1956-06-27 — Page 9

Page

TRADE

THE CHINA MAIL, WEDNESDAY, JUNE 27, 1956.

amcl

COMMERCE

SECTION

Page

New Cotton City For Eastern WORLD HK HANDICRAFT

Germany

KARL MARX-STADT REPLACES CHEMNITZ

Karl Marx-Stadt, East Germany, June 26.

A modern city to be named Karl Marx-Stadt is to be built on the ruins of the former German cotton city of Chemnitz which was almost completely destroyed during the war.

Nu one who knew the oldjed out”, to use their own ex- Chermallz ever called it bosull-prensicca.

fall or attractive. I was one of itwise places where people work-

ed hard and erenlod a lot

*We

are replacing 14," they

of said, "with muchinery which we

anoke and dust in the process, made ourselves. In fact, we now

It

Way ats industrial blot on the muke

green Saxon plain which lies at tiles.

the feet of the Erzegebirge, ! certainly brought prosperity to its 920,000 people.

We

Kari Morx-Stadt

In

need to produce everything we

export 70 per cent what we produce most of it the USSR but also to Ger-

Halland,

Denmark. Its importance enme from the many,

France.

Italy, South Americaci loes/motive

engineering and

like Uruguay and the colon spinning,untries textile, hosiery and glove manu-Chile, and China.

works red

facturing. It was the Manchester "We could seli 50 per cent

of Germany.

20-Minute Blast

Cymmercially It was always active and enterprising. It sent Its goxxis all over the world,

more texts if we had the matz- power to produce them."

For the export trade, Kari Marx-Stadt concentrates on the USSR, Poland and other coun- Irles behind the Iron Curtain, bul It is trying to increase its business with the Western World

Then rane Hitler and World War II One day in March 1940 e combined British and Ameri-and to this end is working hard

lo produce the things which it

Report Denied

Singapore, June 20. The Fung Koolg Itubber Company (Malaya) Limited today denied Hongkong reporía that it down was going to close

ita Singapore brunch de- cause of labour troubles, the Straits Times reported. -Reuter,

HONGKONG STOCK EXCHANGE

Good News Revives

Wall Street Stocks

By Dorothea Brooks

New York, June 26.

COTTON MARKETS

New York, June 26. Colton futures ..... today moved irregularly ονομ limits in another slow session-the fourth in a row.

narrow

Small evening-up operations hi the July delivery, and a fair- sized demand for October con-

Orleans

points

A swell of good news from steel negotiations through New

brokers, proviied the trading where hopes increased for a strikdess settlement, features. and from Congress here the 32.9 billion highway higher, reflecting covering in

tow July started a construction bill was approved - revived the stock absence of delivery notices, but market today.

Prices

<<)

Increase Southern National Cas

Southern Railway (Corrs). trading late in the stasión after

Standard Brands days of dull irregularity 越 Standard On of Cal, enginess. Valuo of all listed Stamined Oil of Ind. shares today went up around Standard Oil of NS

Sterling Drug Co. 1 billion

Stokeky-Vam Compa

All reading groups did well. with the steal shures, candal and other special issues load- ing the way. Trading picked up to 1,730,000

corts

trom

Studebaker-Peckard Corp Bwith & Co. Taxas Co.

Tado Water Amri, OLI

Twenty Century Fox Film Union Carbide Union Paciile Hallway

(From Our Correspondent)

Business done on the Hong-1,800,000 after lagging behind United Atrorat kong Slock Exchange this

U.S. Gypam yesterday's 1,840,000 charts.

U.A. Rubber

V.3. Steel Warner Bros,

morning amounted to approxi The steels, given an added. Line Co. mately 673,000. Noon quotations push by passage of the construc-US. Smelting and the morning's transactions:tion bill,

ran up gains to 4 points in Youngstown Sheet & Share

Tube, BANKS HK Bank

INSURANCES Union

can air force lambed Chemnitz. thinks the Western World might IK fotel The Taid short and sharp--

want.

all over in 20

minutes. The town

was sanashied

as completely us

wiped out the

try, England.

Two months

As a shop window for Europe the Genom had much earlier and the United States, they pint

centre of Coven- | heir Talth

on Leipzig Fair. Trade delegations, however, are the being sent as far afield as Peking town was caught between the and South America.

artility of

completed its

people fled Virtually

and more

That two fronts,

พรล

ruin. Half the

were killed,

house every damaged in some way. The local authorities estimate that 80 per cent of the town was reduced to rubble,

Kari

Synthetics

Buyers Beliers

Sales

1005 1100

33 et 1000

1773 10

no

500 € 19.78 1000 41 1000 4 40.75 1000 14.40

141 14.70 3230 14.00 (191 10

300 88% 180 1.50 10,000 @ 1,525

Utilities Boosted

The non-ferrous

metals had

gains ranging around 3 points in Kaiser Aluminium and Reynolds Metals.

Airlines wa Eastern leading at up 3%.

a feature with

The industrials utted their average 2.94 to 487.37, its best since May 21.

Out of a total 1,123 issues

traded,

ARTICLES SHOWN IN NY

New York, June 26.

Mr Henry Cabot Lodge Jr, US representative to the UN said yesterday in his brief, welcoming address, that the exhibit of 1,500 handieraft articles made in Cambodia, China, Hongkong, Thailand and Vietnam "will add something to the lives of mony Americans.”

The exhibit of Southeast Aslan products was collected by Mr subsequently gave up all of the Russil Wright, a leading Ameri

Oricans Interests word of a research project for the 2015 New

accredited buyers of between International Co-operation Ad- 3,000 and 6,000 boles in October. ministration. The project aimed

New

con- to improve and expand the pro- market interest

gain and a few points more. can Industrial designer is part

10%

ST tinued to be hampered by the duction of these handicraft 52 slow textilo market, plus steel | articles and to promote their 10% strike uncertainties, and favour-export sale.

71k

Other traders

able crop news, seawplied outcome of bids

231%

121

274

70%

274

With dignitaries of the US and

CHICAGO GRAIN

MARKET

Chlengo, June 20. Prices of grain futures were lower on the Board of Trudo in response to reports of good rains over portions of the corn belt, with more rafa promised

the immediate Prospects of the heavy CONT yleid pressure on now and old crop deliveries alike.

4 ed today by the Governement in foreign governments looking an

parts accept..

Lodge the fourth round of sales out of Ambassador

formally

tor opened the exhibit which fa the surplus stock for export.

The Government weekly crop being held in conjunction with summary

first International House- overall out the said the look remained good. Conditions wares Show this week. Thou- were mostly favourable for good mands of buyers from all over excellent developments the US will have an opportunity Weather

permitled to examine the latest in South- cast Asian products. adequate conditions

cultivation and effee- five

Insect controlling in most arcas. Earlier cotton In

00

201

2315

451%

-United Press.

Westinghoung Electric West Va, Plip & Paper Woolworth

WORLD RUBBER MARKETS

537 were higher, 339 30 to 185 points higher with

0

southern Texas is maturing fast yield prospectst good.

with

Growing weather

Was good in

the far southwest.

Great Market

toward

in

future. resultant

brought

Wheat futures and oute joined thes decrease. There Was

substantial selling by Local dealers and commission house brokers, with reports of heavy yields per nere in some down stato Illinois artos.

In

soybeans July led the and was affected by selling weakness in both oil and meal

Mr Lodge expressed co- Open July contracts today Adence that the showing would Increasing totalled

The contribute 120,900 balos,

the certificated stock remained at

dollar earnings of the

Et futures. nations. 0,180 bales.

participating

the importance phaising other countries of world trade. Mir Lodge said "these transfor

38,000 1,402,200 bales

Lanbard

SHIPPING Weyluck

DOCKS. ETC. K. Wharf Dock

933 1.45

DODB.

40.75 41

Month

Volume Open Interest

July

4,500 126,300

LAND,

'vident

14,00

IK Land Rustyy Amal. KUBBEN Trust UTILITIES

Trom .....

Star Ferry.. Yanamali

140

150 1.25 34 200 1.80 1.00 13,000 § 1.09

3.80 24.20 K30 AR

107

Natural Gas stocks boosted

their and

average utilities climbed

0.60

60 to 80.75, its best since April 9.

Oct.

7,500

285,500

Dec,

13,200

494,500

New York, June 28,

Mar.

5,300

200,300

Oils had

gan ranging

to

mort

than a poist,

The No. 1 Rss, rubber futures today closed 69 to 105 points hisher with sales of 424 con- tracts.

May

0,700

144,200

July

1,000

12100

def.

300

Dec.

000

Total

The standard contrect closed

NEW YORK

Prices ~

futures closed today

500 24.10

Excharige

IO 24.90

sales of 30 contracts.

Closing prices:

as follows:

Spot

38,00

July

34.50

1300 @ 24.80

000 € 21.20

No. 1 Res

12.07

200 24.00

32.48

L34 (N) 21.30 Biric

100 21.00

the

32 33.75 Дори 2115 Rt

Telephong . 24.70 24.00

13:30 $2,75

averages

wtv

July Sept. Dec.

33.03

3249

31.75-05 20.02-00

31.71

+

480.37

30.19

42 21.60 1000 61 24 CO

107.20

Standard contract

13 utilities

00.75

600 24.30

д

stocks

178.03

July

33.25

Rts...

13.90 14.10

572 à 13.00 280 13.00

40 bonda

90.13

Srot

31.50

Comm. future price index..

16GA7

Dec.

Moody's Irudes

424.50

Mar

Comment

3316 33.75 STORES, ETC. Dolly

16.70 10.90 11.00

1400 434.7b

May

Closing Prices

July

* 10% 112

C. Light (0) 24.00 24.90 2200 @ 24.00 lower on the day,

"There are no real difficulties

of trade with in the way West," the executives sald

Marx-Stadt'a greatest problem at the moment is chronic shortage of labour. This

ficts in greater or lesser do INDUSTRIALS free most of the countries be- hind the Iron Curtain.

Afterwards, where a town had once stood, there waa between 4,000,000 und 7,000,000 cubic yards of rubble.

that rubble remains at The are still being cleared away, but

"We employ about the some the chief architect, Herr Werner

the task to be number of people as before the Qehme, expects

war," they said, "but we could finisited this year.

another 100,000, We He has in his once a model do with of the new city he is building. We would like to build some new

badly Indeed. nces them very in bright factories, but what is the use if somewhat grim we have not got the workero?"

countries of

the German world, "We are not going to rebuildWestern

he said.public is going all out to pro- old Chemnitz," the

the

perfect

Bynthells thread We duce "People said it was ugly.

Homething something that will look and want lo ervate

feel like beautiful."

out in miniature on

Laut lange table,

LE

was

contrast to the

town outside.

Not Exactly Slums

of

the

1

There will be a general widen- strocts, Ing

central especially

old Koenig- the Strasse der

strasse,

of the

now

Nation Here the buildings will

be much taller, in keeping with

the other proportions of the thoroughfare

In tho Arst five

year plan.

which ended last you, 9.477 homes were erected and 30,000

The repaired

old- fashioned

Mietskaserne - the dark, unhygienic, barrack-like

were

Bats

In, which

working people used to be housed--is dying out, There are still some left. Al- though not

exactly slums, they are something not for removed. New flats are being built around green squares.

The best architzets available

work together in brigades of 18

Liko the

That the

wool and be just as absorbent. But big developments In colton spinning too are ex- pected during the next fyou critical years.

China Mall Special.

Wartine COTTONS Textle Corp 3.30 9.40 Nanyang 746

INVESTMENTS Yanslate... АПКО H.K. & F.E

Invert

600 2150

1000 5.30

5.88 7:30

11.20 1140

500 11:30

New York Stock

bond volume was $3,140,000,

American Stock Exchange volume was 640.000 shares

Dow-James

30 nduricialm 20 calls

closing

29.00

38.73-80

20.00

27.30

Prices made a strong come- back after

start, ashaky responding to short covering in 33% the July and September dell-

veries.

3ZEL

25%

Nadio

7434

30 20

Exchange Rates

Businem was dono in the local

exchange market

Alden Inc. Acy, Allied Chemicals Allied Mills Inc. Allis Chalmers American Airling Cable American

Corp.

American Cyanamide Co. Am. Mich. & F. dry. American Metal American Smelung Am. Bugar Ret. American Tel & Tel American Tob. "B" Anaconda Copper Armco Bicol

British Petroleum

Free Scrip Issue Rumour

Borden (The) On.

Case (3,5) Co.

Cat Tractor

Celanese Corp. CIT. Finance Corp. Chase Manhas Back Charlor Motore Colgate-Palmolive Co Commercial Credit Commonwealth Elec. Consolidated Edison Continental Oil of Del Crown Zellerbach Cuban Amer. Gagar Diamond Alkali ... Dow Chemicals Dupont de Nemours En Kodak El Paso National Un Erio Radirond

Although most traders con- tinued to be at a loss to explain the markets strengiža.

Factory buyers continued to 414 mark time in the spot market. No. 1 Rss was quoted at 9344 cents a pound.

LONDON

13 The market was barely steady

1500

October

December March

May

July

October

December

NEW ORLEANS

to

Israel and Pakistan purchased a million bushels of wheat cach shipment during July

tions help the US because shy through September. thing which adds to the self- rellant strength of other countries and to their friend- cent; ship for Amerien thereby adds cents. to the security of our country and of the whole tree world

Wheat closed off 1% to 11⁄2 soybeans off 3% to 10

Ho added that it won the "strong Americm foreign polley to want them to be suc- ccssful."

With como 28 million Amerí- cans now owning their homes, Mr Lodge declared "there 'is' a- great and growing market for

Prices of futures closed today home furnishings made of novel as follows:

Spot

October

December

March

May

July

October

December

materials."

He described the exhibit as In example of "intelligent co- operation among nations hold- Lock cultural

CLOSING PRICES

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

Spot

2110 July 20031(24) 207LCËS. 2000-200

21135-4

1227

Sept.

Nov

Mar.

Corn, No. 2, yellow

Spoi

July

Sept

Nov.

Mar.

35,30

34.56

Bro

22.71

Juls

22.49

Sept

22.08

32.51

ing crozomic

Oats

31.73

advantages for the selling and

July

30.78

30,71

buying nations.

Sept.

Soybeans, No. 2, yellow

Spot

per co-operate

July

Sept

Nov.

Kati

-MIST.

Rarity

Spot

130-140

Americans, New York flour

200 lb. mck

$150.00%

WINNIPEG FRICES

Winnipeg June 28.

LIVERPOOL Future closings, in pence lb, were as follows: Old contract July/Aug. Now,contract

July/Au

Oct/Nov.

Doc./Jan

Mar/Apr.

MAY/JUDO

Egyptian

"When we and other nations

intelligently

for these

everybody purposes 24.50 | benedits including ourzülves" 18.15 he said, "There is no doubt 25,516 for instance that through this 24,41 exhibit

the crafiemanship of 23.41

Asia w add something to the TEO lives of many

United Fress,

"Karnak July/Au

SAO PAULO Future closings, in cruzelees. per kilo were as follows.

25%-25% July

October 264-25 December 25-261

March

219-325 MAY

Jeneral markets, clf basis, ports:

The market was quiet. Prices guilders per

closed today in

kilogram, elf July as follows:

ceats, Sales totailed 11,303 bales--United Press:

Singapore

NEW YORK METALives of grain futures closed

today in cents per, buɛhel as follows:

#7

1701

70%

721/

unofficial

this

075

moming at the following rateste U.S. dollar (per $1) .....

Armour

107%

5.00

Baldwin-Lima-itan),

Starling notes (per 1)

15,73

Baltimore & Chlo

48

Australian notes (per £1) ...

112

Indonesian rupiah (per 100) Siam ical (per 100)

18.00

Bendix Aviation Corp. Benguet Cons,

with spot quoted at

25-5/10

2

pence per . Prices:

26.70 Bethlehem Steel

1404

No, 1 s spot

30.00

Singapore (Straits)

7.02 Boeing Airplane

86%

Settement house ter

50

Aug.

10.00

Burroughs Ada Machine

41

Sept.

39.60

| Canadian Pacific R

3115 Jan./Mar.

Ocbi/Dec.

119 Apr./June

2614-2434 26-2415

159 July

45

25-11-201

In the US at 14 selected markets, the average price was 25-25% 35.55

39.00

FUTURES

Onta

July

New York, Jutro 20,

Oct

4035

Estate crepe thin July

31

thick turquoted AMSTERDAM

Prices of metal fúlures closed today in cerits per lb, as follows:

Dec

Byb

Lead

July

Oct

Jume

14.00b

Dec

July

Harboy

Ta

Juby

June

July

$1,106 94.336

Oct

Dec.

Zme

Flaxseed

June

19.506

July

9.39 nom.

were une

Singapore, June 27, Brokers today quoted the fol- lowing stock prices:

Copper

June

18.946

July

Cloding

Batis Lintang Rubber Co.

Ltd.

81.47

British Borneo

Petroleum

Byndiesto

Consolidated

Smel

Ord..

20%

Fraser & Neave Ltd. Ord.

$1.75

London, June 21.

Frauer & Neave. 75%

o

ZDK-2.30. 2.749-2.75

pref

·05.00

Hongkong Shanghai Bouk-

20.041-10.54. ma Corp..

1500

110.03-130.66 Hengkong Tin, Ltd.

0.70

$1.72+

$3.65

unchanged-United

Ltd.

11.67

$347

Too many proofs mean time was

Ramen Hotel

$121

BingADOW Cold Storažo

$1.43

London, June 26.

Sterling which had a daily average of 2.81 for

the first four months of this year, has been under

Family Finance Corp.

Ford Motor

General Electric

General Foods

pressure all of June and today broke through 2:80;ral Motors

or 20 under a leading architect, the stock market didn't like it.

They compile plans for individual houses or large blocks of flats with shops beneath,

There was substantial edling | couple

of Japanese

Gen. Pub. ܧ. Getty Oil Glidden Co. Goodrich (B.F.) C. non-Goodyear Tire

A man who wants to buy his of British Governments but I assented cased sterling but own house puts down between oked as though the authorities the others

for the declines United Press.

intervened

£350 and £600. The rest comes were limited to sterling; in credit from the State and is

some buying just befor the

lifted Old "Daitons"

paid back in rent. If the man close dies, the house stays in

his

ways itmains

the property of

the State,

were unchanged.

Consils and New York Sugar

family, although the land al- changed. up to doso un-

The small factories which

Market

...

Leyden Chemical Homstake Mining Co,

inger#oil-tand

Inland Stoel_Co.

Interchemical Corp.

Int'l Tol & Tel

No. 1 rubber

No. a rubber

No. 3 rubber

No. 1 crope

Singapore subbor prices available.--United Press.

2.47 nom,

2,63 mom,

3.00 nom.

London Foreign

Exchange

New York

Montreal

Amateriam

Firuses

3344 | Copenhagen

93Frankfurt

PRIE

3144 Zurich

56

Init Business Machines Int'l Harvemtex

400

International Nickel

International Paper

Kansas C. Power & Light

Kennecott Copper

R

Liggett Meyers Tol. Lockheed Aircraft Loews Incoro,

120 Press.

604

441/

N

Lone Star Cement C

Lowenstein J. Boris, Mebl, Irors: Cors Minion Development. Monsanto Chemiet Co. Montgomery Ward

Elsewhere the activity was largely limited to lesser known privately-owned stocks

New York, June 28. which happened to be in wore such a the news.

American buying World No. 4 sugar futures to- feature of the old Chemnitz ere of the British-owned Herrod any closed unchanged to 1 polni Louisville & Nastaville R. being replaced by large nation (Baires) lifted the all higher with sales of fivo con- ally-owned factories.

Important deferred sharma is 9d tracts.

The domestic, No. 6 sugar Anglo-Argentine Tramway were also wanted and the first furiures closed unchanged with debentures roze 2 sterling to no sales reportaž. Po prower 2201⁄2. International trade like Houp!❤ mann, Schoenherr, Hamel, and Schubert and Salzer have die appeared beneath

Famous Names

Famous

tho

دالم

wnbracing mantle of communem

BPa Lifted

Leading industrials were idio and the huge State ormanis and unidsföresting. ilon, the Volksdigener Betrich. There

What metraddingry But the spinning machinery activity in British Petroleum organisation which

obedong factor was à rumour that a Hamel la now freater than free scrip Issue, la Impikrora Com over,"

especially "With '» the which Brtod the shares some ti advent of synthede, thamad., 15. Od 5 to 7728534 rifter

and we touched 174 17

Royal having

Dutch

The men who make and

machinery for cotion planing proved a sterling

woaving report that Liver

Foreign bonds were idio apart stilla suma zaidi Bridal = made from a fow targets like Gorman machinery in their dacicries, bui Potash: 814 per cento which rece It la now 30 or ið. yours old, in a sideling and, the, 1 pár canis out of date and le being "chuck" which gained 1 sterilng.

Both markety - rufoj vdow while traders waited develop. ments in thỏ khow and refined situationsFutures

Contract No. 4 (world); July

September October Merchan May July

Septen Spot-icinia

|"Cube)

(Opers)

Open intai United Fre

Motorola Ine, xo National Cost: Rég:

| National Dulty, Prod,

Nation), d

National Sboel Corp, New York - Ceritrul Olin Main Simon Ote Elevator Ower-Illinois, Glase! Pacile das LAN ; KM0, Pen-American Airways Paramount Pictures Parka Devin ·Co. vi. Penny JC, Co. Penn, belt Co. Philip Morris

Prefer a Oemble Pittsburgh – 2Pinto - GlamG

·PatUCJST-Industries

Radó Corg

Bouth-Puerto Rico

404 Others were

Stock Market

19.343-19.343 | Kempas. Ltd.

21.0745-11.077; Lanas Bubber Ertates Ltd. DEO-DUGLS BALKyan Breweries

22.197-12.1076 New Berandah Rubber

Petaling Tin:114.

New York Foreign Exchange

Canada England

Australia

New Zeeland South Africa 4945 | Argentina ?

PAXÍstair

• New York, June

$101-21/32

1.79 futures 3.75-/27/18 futurem

2.70

0018

--- United Pres

LONDON SILVER PRICES

Bouth British Insurance

Eto.

Biraits Trading

Strails Steamship

United Engisbers Ord,

Wears Bros.

Special.

cumdiy

-100

$11.50 57.83 $2.50

ina Mali

LONDON METAL PRICES

London, June 20.) Prices of metals closed Lolay

followe

buyers halfers

Dest

July

Oht

Wheat No. 3, 168 cents; No.

138 cents. -Unite

Let US handle

YOUR PRINTING

Wo grasp the point at the önset and

ONE - PROOF: generally

suffices.

After that, our upstordate automatic

presses, make short work of the job.

Ior us

quote for your current

requirements.

SOUTH CHINA MORNING POST

PRINTING DEPT.

of every des

iption:

20002