1956-06-15 — Page 9

Page

THE CHINA MAIL, FRIDAY, JUNE 15, 1956.

TRADE and COMMERCE

SECTION

Pare 9

Lack Of Interest Disposal Of Persia's Oil Cotton Futures

On Wall Street

By Dorothea Brooks

New York, June 14.

Stocks ran into some opposition today after three sessions of steady advance, but there was no real pressure to the selling that took place.

WORLD RUBBER

MARKETS

The uneasiness seemed to reflect chiefly a lack of interest in the market. Turnover dipped Lo 1,870,000 shares from 1,700,- 000 yesterday.

Industrial shares stumped 1.88 on average, wolghed down by declines of a point or so in such

Du Pont, leaders as Chryster, Goodyear Tyru, Nallonal Stect, Texas Co., US Steel.

were

No Commentary

It is regretted that owing to the Indisposition of our Share Market Correspon- dent the umat Friday's commentary la not avail- abic,--Ed, China Mall,

HONGKONG STOCK

EXCHANGE

Revenue

LITTLE AVAILABLE

TO REDUCE COST OF LIVING

Teheran, June 14.

Price increases of 10 per cent on tobacco and alcoholic drinks sugar, tea, have angered the citizens, of Persia where (From Our Correspondent) the cost of living has gone up by more

than 1,100 per cent since 1937.

There

low wide- maying speelal issues, Cosier New York, June 14. Petroleum fell 46 points to The No. 1 Ras rubber | $45%%% on the day's heaviest futures closed today 40 to turnover ues aucement was

Business done on the Hong- a plan- 70 points

withde of termination of higher

W. R. Grace. kong ned merger with

Stock Exchange Grace added a point to 351 as morning amounted to

I will ximately $860,000. Noon queta- the company disclosed putchase 50,000 shares of Texas | tions and the morning's trans- Gulf Producing Co, at $44,50 a factions. share na part of an aggrvement

sales of 198 contracts.

in Libya, Texas Gulf supped

This

приго-

The standard contraet closed 40 To D points higher

With

sules of 15 contriels,

Closing prices

July Sept.

79 90

27 $9 20 90-115

A to $15.

Mhares

BANKS

Duyen Setters

Balce

Standard contract

Justy

29.73

Olls were neflye sueS.

the

day's most

HK Bath East Arda

1000 1000

$40

INSURANCES

Sep

27 70

Mar

20 30

23,45

Union Lorn bed,

XD Underwriters 10

S07

1000 45

SHIPPING Waterbom

INJ

averages

Wheelock

DOCKS, ETC.

K.. What Dock

$1,20

1.30 4000 ry

DO

2100 434

14 80

13.02

104.16

with

market

factory

nominally

50.10

er

May July

24.00

Commission house Interests operated on both sides of the Hanbal market, with the high- eubles bringing in seatlerend covering orders,

romaineil buyers marking Ume. Spot No. 1 Ras

7744 spot

below

was quoted

GAPORE

There was mikel ductations with Leh bency drift lower during Towards the end

the morning.

In the afternoon sessuja Cheru

wag some

buying and market forvek uz) int1. closel

below the highest after being erratic,

Future closings were

No rubber per

Aug.

No. rubber per I June 705-77

No rubber per ih. Jine 78-781

No

rubber per th June 731-741

Sput rubber unhaled

Himiket crepe

01-137

43-40

The market was steady with spot quoted at 23 panico

ib. Prices:

Steels were mostly with US Steel, National and Armev

down nearly a point each.

or 1,090

issues traded, 480 were inwer, 386 lugher.

New

York Stock Exchange bund volume was $2,770,000,

American Sluck Exchange volume was 070,000 shares,

Dow-Jones closing

40 bonds

Comuni, Spot price Index Moody's inaux

Closing Prices

Alden low. Avy,

Allied Chemicals Allied Hill The As Calmers Aiserican Airline Alperican Cable

American Cayramnite Co.

Am Mach, dry

Aunerton Metal

Annettean Swiežting Alan tuna. Pol & Tel American Tob. "B Anaconda Cupper Aimeo Steel

Armour

Badwin-Lima-diam.

June

July

trade

Nu i prepo

LONDON

LAND, ETC".

HK Lond Hunjabreys

14.29 14.30

17.20

04 0413

это 45 ев

743 1.00 6000 @ 1.476 1.00 163 10,000 1.80

were:

30%

30 industfuln

20 rails

13 ite

do stocks

173.00

HK Huvel

IMG_20

Comm, are price index

114.77 101

410.10

RUBBER

Amald Trums

UTILITIES.

Trusti

24

500 g 23.80

Star Ferry

100 211

13 @ 23

500 g 20.g

1000 31.70

3070 30%

unquntra

70%-30%

70-789

123-117

Corp.

Y

The exin taxes were one of | The fact that the pipeline. the final acts of the Government will cut fuel-for-industry costs before the dissolution of the 18th | by as much as 50 per cent and

Majlis (Lower House) last will also free the over-burdened

Russia Buying

Pakistan

Cotton

Karachi, June 14.

The Soviet trade deloga- tion now in Harscht has offered to buy outright, 2,000 tons roughly 10,000 bafes -- of modiam staple cotton, it was Jescued frons, * reliable source here to üight.

The offer was made'nt a plonaty session during the Pakistan. Soviet

LX. during which reports of

on sub-committees v

methods and

1wo

paymentes Weis exa-

The negotiations, which started on June 2, are OK- pected to finish at the end the week. -- Franco- PERSOL

ol

March. They were needal to single railway line from Persia's CHICAGO GRAIN

Khorramshahr, help meet a budget defiet of sole large port,

Teheran

vital for other some £30,000,000, spokesmen to

supplies, is not mentioned. sald

Recent price increases were calamitous In their effect on

The foremost problem facing the newly elected 19th Majlis this question of the constantly rising cost of living,

Disturbing Period

public opinion therefore for two

MARKET

Drift Lower

New York, June 14.

Cotton futures prices today, drifted irregular-

ly lower in the tenth consecutive session of slow dealings.

Out,

Tojal

At the close the ist ruled 14 Jub 10 4 points lower, Opening prices were off. 2 to 9 points. Now Orleans closed off 2 to 4 points,

Apart from evening-up operations in the spot July de- livay, anticipating first notice day June 25-trading lacked a particular feature,

Most operatoru, kapt close to phore pending news on outcome of bids subiriiited curlier this week for sales out of the Coy. ernment

cotton surplus Hopes WCTO entertained word that score wit cype before the weekend or sometime early next week.

on

Meanwhile, textile mill cur- tailment mostly ignored

privato crop MITVEJ indicated fair to good progress in east belt scellons over the pal week. Mostly good pro

was reported in the con-

tral belt, while good to excellent conditions were noted in the west and far western producing areas, with a few exceptions,

The Commodity Credit Cor Chicago, June 14. poration reported loan reposses main reasons.

Grain futures were irregular nions for the week ended June 8 Taxes were imposed, on the on the Board of Trade today. totaled 33,701 balts, leaving the essentials of the ordinary man's

Wheat advanced mainly on a net stock of 1955 crop cotton, in dood and entertaining require large percentage of new wheat the loan at 6,139,982 being. ments sugar, ten, tobacco and

Open July contracts today Publie discontent with the vodka, beer or wine. Everyone moving from the southwest and

into

than being totalled storage rather

105,800 bales. The authorities for their failure to drinks tea, everyone smokes and placed on the

market demifented stock remained open a lot of people like an occasion Support was received from both 10,225, bales keep down prices is mounting

commission houses Month

Volume Open Interest but statemen are trying to avoid af bottle of cheap locally distill-local

Auct at all costs a serious public out as other drinks.

ed vodka in the house, as well

17,000 169.00 and intimations of a renewal uld jeopantise, for which would

9.500 сту

of interest in making

7,500 470.500 more than Communist, subver-

purchaser.

5,500

sion, the country's hard-woo stability as a result of the 1954

Just Beginning

Jub Opt. Lour Dec.

Mar.

Soybeans fell off today ать agreement with the Weturn

Secondly they had been led lower bear oil and meal prices. Conwerttum which operates its to presume

the that with

Wheat closed up 1 to 13% only major exporting Industry-settlement of the oil dispute, crate; soybeans off % to 3% oli.

their main ecumornic problems cents. Between now and 1958 when were over. the first results of national con- But in foot they seem to be struction schemes become ap- just beginning. Now that oil re- parem to the man in the street venue is flowing into the coun- the Goverument faces a disturb-try at an annual rate of over £40,000,000, the United States ing

period. It will be a period in which has heavily there will be little to show the dollar ald

After the overthrow average Persian in the way Mossadeg and for almost

development. 88501320 national

Peralan cconomy in equilibrium years, the United States

G. Laghu (0) 23.30 23.00 1000 23.40

Electrle 311

JLt. 20.00

9.19

January

CLOSING PRICES

320

$13

33

Prices per bushel in cents: Wheat, No. 2, rad

C. LAKİ (N) 20.00

Spod

217150

2414

July 2109(11) 2001)

tatto

Botus 3015

7011

23%

Macio E Teleptione

.

of

11 reduced

of

tree

September

2111- 2101-210

November

218

30

24 24.30 fita. 13.20 1335

Tho

Dr iwo

March

52

100

INDUSTRIALS

Cemon!

00

Rope

3012 10,20

30

per

STORES, ETC.

123

Dairy .... 16,0 10,00

Ballimory &

Ohlu

40%

No. 1 spot many... Settlement house term:

234-2394

Bendix Avtalion Curs.

Watson ...

12. 30 12.40

830 10.00 200 g 10.70 BOU 12/10

struggle to close the budget a 30 2400 334 will become increasingly urgent,

unless large-scale ald from the with monthly grants of 5,250,000 paid essential United States or any other avail-dollars which

Governmnet expenses. able sources is received.

kept

Corn, No. 2, yellow

#pok

July

Beptember

November

to

Benguel Cona

July

23-23%

Boeing Aurelane

Лики

2336-2341

Borden The! Co.

0014

COTTONS Textiles

September

Burroughs Add Maviske

462 | Nanyang

335

7.00

400 M

7.00

In last few months that aid fins Bre fallen

lcss than 2,000,000 dollars a month.

Persian Government chiefs state bluntly that

the

Biocha

July

Bepberaber Qata

July

they need

September

July/Sept.

2336-2374

Oct/Dec.

2211-224

Jan/Mar,

1244-2233

App/June

2217-224

June

July

230-2311

Aunt

20

Estate Crepy thick

AMSTERDAM

General markets est boala, poris,

Estale crepe tiin July ..

The market was quiet.

day's quotations

changed.-United Press.

Singapore

Canadian Pacific R.

Cut Tracior

Colaeva Curp

CLT Financial Corp.

Manhat. Bank

Chrysler Mutors

Colgate-Palmolive Co.

Commercial Credi

Commonwealth Elec.

Conlisted Edison

Tootinental Oll of pál

Stock Market

Singapore, June 15.

Brokers today

quuled the

following stock prices:

Batu Lintang Rubber Co. Ltd. $1.38" Briti Bogreo Petivism

Ord.

& Neatres Ld. Ord... Fraser

Fynser & Neave Ltd. 75% cum. prof.

Hongkong & Shanghal Bank-

ing Corp. ...................

Crane Co.

Crown Zellerba

Cuban Amer. Bumar

Dlabond Alkal

Dow Chemicals

Dumont de Nemours

Estian Kodak

El Pop National Gos

Erie Balkond

Family Funaher Corp.

Ford Motor

Ometal Electric

General Pikia

General Motor

Get Pub G

Getty Un

Gilden Co

Goodrich 18. P.) Co.

Hoyden Chemical

Cam (1) Cu,

INVESTMENTS

Yangtale

423

Sport Hy

September November Jatriarty March Barley

Sport

127

0875-07

639%

31434

31436-315

*

*

ཐ

unquoted

290,100

ZLA,100

7,300 157.100

1,200 119300

83,300 1,454,600 bales

NEW YORK

Prices of futures closed today

as follows:

Spot July

October December March

Mag...

July

October December

NEW ORLEANS

Prices of futures closed today as follows:

Boot

July

October

December Alarch

May

Judgi

October

December

LIVERPOOL

30,00

30,70

Future closings, in pence per Ib. were as follows: old contract

July/Aug

New patrol

July/Aug. Oct/Nov Dec/Jan.

$lac/Apt. Masude

Egypt

26,40

ZE7A 25.29-33

2451

2490-80

13.19

Karpak 7/ALSO PAULO $7,00

Future closings, in cruzeirde per kio were as follows:

July

Det

Dec:

at

May

3130

31.20

20.00

40.50

30.00

In the US the average price of 15/16 mldding cotton at 14 designaled spot marketa WAS unavailable today. Sales total- led 5.84% bales.United Fress

P.OBIE.A

COMPANIES

Syndicato

Consolidated

תליה

Were

11-

49/01

30%

Gevear, Tire

Opening

Homstka Mining Co.

frugeroll and

Inland Steel Ca,

Interchemical Comp

614

Smelterm

Inti Business MachineCR

20/30 $1.72

Inft Harvester

International Nickel

International Paper

130

Hongkong in Ltd,

$3.70

глаз 5/3d

Ini Tel. A Tel,

Jahn-Manville Co

50

Kansas C. Power & Light

Kempas Ltd.

$1.05

Kennecati Copper

12312

Liggett Meyer Tob. Co

Lonis Rubber Estates Ltd,

0.70

Lootheed Aircraft

Malayan Breweries w.........

$3.45"

Loewa InTP.

New Berandah Rubber

Co.

Love Bine Cement Co.

$1.05

Louisville & Nashville 1,

Petaling Tin Ltd.

Staflice Hotel

$3.45 32.20

Lowenstein, &c Sonat

Kembi Kron Corp.

Singapore Cold Storag

$1.40

46

Minneola Minta

Bouth British Insurance

Mission Development

130.00

Straate Trading

$35.00

Megando Chemical, Ox

Brille Stonehip

Montgomery Ward

$11.00

17.70

Motoren Inc.

454

National Cah Neg, “*A*

$2.00

Notional Dairy Prod.

National Lead

Kalori Sieni Corp.

Ltd...KITA.

United Engineers Ord. Weare Bros.

axdly.

-Chiam Mali Special,

New York Sugar Market

New York, June 14.

New Yorld Central

On Mathieson

Pacifie

Elec

Pan American Altwaya

Paramount Pictures

Parko Daviz Su,

Penny J, C. Co.

Pinn Bali Co.,

Philip Morris

Procter & Gamble Co.

World No. 4 sugar futures, closed today unchanged to 4 Pittsburgh Plate Class

Publicker Industries

points lower with sales of 79| Pure Cli contracts,

Domestic No. 9 sugar futures

low changed to 1.

tracte

with sales of

World No.

sugar

Tadio Corporation. Republic, Steel

arnol Metal

point Saint Reg. Paper

76. con-

sinclair Oil Secony Mobuoli futures South Puerto. Heo Sugar

Bouthem National Gas.

cased on scattered liquidation in Bandard Brands the July delivery, while domes Standard Ou of Che

Fundard Oil of Ind.

tie futures were relatively stendy Biandard bi of NJ.

its a mixed trade. Futures

Contract No. 4 (World),

July

Beptember

Oktober

Meets

Blay

July

Blerim Drug Co.. Siddebaker-Packard Corp.

3.41 Bwift & Co

·Texas 50,.4945 331 Tide Water. Amen. 011

331

Twenty Century Fox Fum Union Carbide Pa

Union Paid Ballway

United Aircraft

Yeh JUB. Optum, aya

$42, UK. Bigel

Warner Bros.

$5.87 Westinghouse. Becicka..

| West Va Pig & Pad

10.00 7.20 2000 * 705 Alled ... 8.90 $30

London Stocks

Close Firm

op

London, June 14. Stocks failed to make headway

limited the London Exchange today but most sections closed firm.

volume

on

Anger And Despair

If the year 1037 is a have an index of 100 then the of living index in present, cost Persta shows the figure of 1,100 -Over 11 (and nearly 12) times that of the 1937 level.

"considerabla" United States ald Soybeans, No. 2, yellow

for at least three more years; until they have managed to re- store the economie balance which nationalisa- Dr Mossadeq's ol tion policy destroyed.

The anger and despair felt by

Of Persia's oil revenue, about the ordinary Persian worker or clark is directed not only against 70 per cent is set apart to pay.

develop New York flour

200 lb. anck his own Government for their for national economie

The remaining Lallure to stat

ment schemes stabilise

the price 30 per cent goes to help meet structure but also panist the budget deficit and to the Western countries.

nationalised Iranian Oll Com- pany.

Prolong Crisis

Osta

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Osturarda -“CARTHAGE"

-“ADEN”.

"CANTON"

"CORFU

"CARTHAGE

Larves London

20th June,

10th July

Dye Dyngkong

Kith June,

8th Aug

1 August,

15th August 1741 September

12th Septemberth October

Via Southampton, Pert Bald. Adeh, Bombay, Colombe: "Pedang & SIBERPOTE,

Homewards "CARTHAGE"

**SURAT”

Leaves. Hongkong Des London 2014

June

11th July

Züh AuguST

1

31st July

13th Augus

14th September 1st September. £ind October

19th October

Singapore, Penang,

Port

Said

19th November Colombo. Bombay Ads,

Landon,

* Also calls Hamburg, Rotterdam & Antwer

“SOMALI"

130-140

$13.70m

"CANTON"

United Press.

**CORFU"

WINNIPEG PRICES

*

"CARTHAGE

Winnipeg, June 14.

Tta

Prices of grain futures closed.

*

today, in follows:

cents per bushel as

July-

8035

October Vereinber

782%

7745

July

October December

120

1193

1181

Harboy *July

October December

108

"SURAT "BURAT

100% 100-101

310

"We were told that with thei signing of the oil agreemeel we would all benefit from large oll exports and that the country would be richer than ever bo

Unless these Bohomes But all wo

of We see now is a

rehabilitation ore economic steady risa in

40 develop Persian į Ryo arguments allowed Well document they say

ylil

be, re- which illustrate convincingly economy

mic vitalised and the nation's living roads, why

factories, cement

will move · steadily standards water systems, dams and, Lines take at least two to three downwards, yours to build fall on unreceptiva

cars,

never

July

Oils were favoured and scoręd modest

British advances.

It would be disastrous there- Petroicum added more than two

a temporary fore if, to meet shillings and Burmah about one.

The Persian man in the street budget crisis, the Govaramont Flaxseed Trinidad Oli was active but

October development. aside for

December closed only a few pence higher wants something for his oil had to, dip its hands into funds Agreement Dow today. The on the day. Mis the makes allure over many years of pre crisis, and, if the public temper 5, 138 cents.-United Press.

This would only prolong the

Wheat, No. 3, 103 cents; No. closed, word came that the Bri-

administrations tọ. Hw up, tish Government had approved to the promises of a better lifeally broke, it might destroy

Persia's hopes for future pros with reservallons" a bid by have bred in him an lastinctive Texas Co.

1. taka över Trinidad. distrust and suspicion of his/Perity.China, Mall Special.

tulers. He only belloves in what Industrials moved in a narrow, socs; promises and arguments range and closed mixed, pl- 22k though gains held

19%

slight no longer have any signifience Process Price

majority. Ford Motor, Imperial for him. Chemical and British Aluminium featured on the upside.

Frustrated

British Govermenta were. In this atmosphere it is corres quiet and finished with santicand pondingly pastor for individuals small losses,

elements who wish Or poilical

Foreign bonds were irregular, | although German Government liens found good support.-- United Press.

New York Foreign Exchange

Canada England ook

New Zea South Africa

Increased

London Foreign Exchange.

Near You Montreal Amaterdoar

Mallor

Pittsburgh, June 14. Koppers Company ine, has in Frankfurt creased dia price for super dyland Par to belittle the present regime playthene-legler process-plas-stockholm and who wish to disxed the in quantity orders by four Zurich West in the eyes of the nation to cents a pound,

achieve some daziza of propi- The new price for 20,000-pol ganda stoess.

quantities, in natural in. 47, courte These people, who are then a pound, and in colour, 50, cents. selves frustrated by the slow: The company said the action pace of life in Persia, or who resulted from the unexpected in- have some personal quærdi with crease, in costs Involved in thu the Goverment often, dug to transition, from laboratory to failure to obtain cn appoint semi-commercial. production. mant

gaining wide China Mall Special,... audience these days.ar

-They fell thr

through people street gossip, or by allusion in 2.70+1/33

that in reality, the newspapers 2.78-9/10 780-1371801 revenue is being speat as th

Westen powers dictato-and not in Persia's own int

ya interdels.

New York, June 14,

Futures

$1.01 10

2.80-1/10

faited, Prem,

NEW YORK METAL FUTURES

Now-York,. June 14,

futures closed Ib as follows:

19,765

a

NEW YORK QIL AND SEED

· Septem! October December

New York, June. 14. that *. They to mul

b vast

Prices of cottonseed all £30,000,000 rond building profutures closed today. in cofits gramme which is Just now beginning is no

la tinent per lb, as follows. the country at ni.• . being bulli, op, "ordarą"" of the Western powers for strazogle birpiica.

"A pipeling trom the olfelda God; mile In the moul :10 Teherṇa, which will become pleted towards the end of hext i

T£10,000,000

Persian eturn

uky,

London, Juno 14.

FB014-2.80 1/10 2.70-2.76,7/10 10.00-10.601 129.20-130.23 134016-11.00{{ 170115-170Z 08194-93131.

14A014-147ADJI.

RM 172214-12216

linchangód-United

LONDON METAL

PRICES

London, June, 14. Prices of metal futures closed todays in sterling per long ton, as follows:

Buyers Seller

Spottin

Coppé

CHICAGO LARD FUTURES

cents.

FREIGHT SERVICE load# 17th June

due 27th June loads 10th July

for Engagore, P. Bwet- tenham, Penang. Adeo, P. Bald, Qanos, Mar wellies, Havre, London. Hamburg, Rotterdam de Anyone from UK..

for Gingapore. P. Bwat- tentam, Penang, Aden, P. Said, London, Ham-

Botterdam burg,

ANLUD

"SHILLONG” duá 21st July from U.K.

BRITISH INDIA S.N. CO., LTD. 1858 — A HUNDRED YEARS OF SERVICE --- 1833 "WARORA” sails 15th June for Singapore, Penang,

“SANTHIA”, alis 15th June "SANTHIA” dus 3rd July salis efta July

* «FULTALA” due 19th July.

ARİH 2011 July

*Rangoon,

Chillagong A

for japan

from Japan)

for Bingapore, Penang Rangoon de Calcutta

From Japan

for Bingapore, Penang. Rangoon & Calcutta

P. & 0./B. 1. JOINT SERVICE

das 20th June' from Bombay anila fond d'une for Japon

QUA

“ORDIA”

"IRAUNA"

"ITOLA"

sih July tum Bomber,

Tor Japan dus' 18th July, from Japan, Jails 17th July for Singapore, Colpenboy

Bombay,· Efsatarangt

Karachi

“UMARIA” e das 18th July From Bombar

HAJIA, ZDE, JULY, · KOK, VADER. “ORDIA” dave 26th, Juls trom Topaci

F27E, JUNE 2 ft Bingapore, Colombo,

Cochin,

EASTERN & AUSTRALIAN 5,5; “NANKINU

NELLORE

For full puckenters apply to :

MACKINNON, MAJKELZI. N .3 OF HUNG KOM .19