TRADE
THE CHINA MAIL, THURSDAY, JULY 26, 1956.
and
COMMERCE
£450 Million Development
London Market Plan For Iraq
Recovers In Afternoon
London, July 25. Stocks recovered from Bome morning uneasiness and most sections closed fractionally higher on the London Exchange today.
Totuve.
A good mumber of unhestrials. made gang of a shilling No Fri- Amerien Imperial Royer
Chemical
Hofis-
tim. ver and Imperial
Toborco
11 protect
gains Torx
sielerfest
sizable hisch-
+
lighted With an advance
about seven dullogy
British
Govername
were less betier but i taged home fractiuni advances in the long-datri Iseas
Outs were negle, text, although
MORE CONSUMER GOODS
WILL MEAN
FEWER IMPORTS LATER
Baghdad, July 25.
A five-year plan for the industrialisation of Iraq which will cost about 454,000,000 Iraqi dinars (a dinar is worth £1 sterling) has been approved by Parliament and is now in full swing.
The
frap
Development
Bord's plan uns at providing the country with new Source of electrical power. The Bourd will also help in the senech for and exploitation
Trang's 43 muthernl
RECOURTN
A Development Bond spokes- 17341 explained thin the estab, Lasiment of variaAIS industries
In late rally held declines 19wn meet Iraq's present need
mall amount
Royal Dutch, esimer gends
and Kove Burmal al British Petroleum
Bey which she FIRS been all Bebel lown on the day.
pending on troportes Foreign boucle showed seal- tered gains in quiet dealings
Gold shures Armed and coppers improved Dollar locks closed with all gains
- United Press
The spokesman said that one
Thee electrical power stations. will be built,
to the Developpent Board, have produced a report on the estab- lishment of light and heavy
industry in Tracy,
NCH-
The 1310
WORLD
COTTON MARKETS
New York, July 25. Cotton futuros prices! moved irregularly today
drifted
in another quiet session.
The nearby contracts lower near the close and the list Anished three
six. lo
points Opened three lower to lower. one higher, New Orleans closed one to seven lower
Nearby deliveries incllel tower ut the opening on light ilquishes tion and pries fixing, while the Pus-aft Gelaber and December under pressure
Contac
meid lose 50 to 80 cents a bale,
months Prices for the nearby advanced slightly for their early how by noon and the ust held within a narrow range through- Cut the aft theon Volume was 30.300
The Best, at Karkuk, due to be finished in 1958. will serve the whole of northern Trag and
Some of the projects will have an initial empacity of 80.000 KW I w ultimately, fined in the report are already bales
under construolion, white produce 159,000 KW
bluaning of others, such as The 1(២ ។ +1 ] ^{
station. also due to
satilisation of Iraqi woul. the bas vatrazaleted!
establishment of a rayon Abre 1958, will be in Baghd i eity
This will serve at dest 172 ely area aut later the whole of semirol Temp.
The
power
wall station
have initial output of 40,00 KW and
jel the most important aspeels, of will ultimately produce 100,000
i me plan was the electrification | KW
of the country at an estimated tem of 12,000,000 dinars
Wall Street Stocks
Close Higher
New York, July 25.
Stocks closed higher today in the Dow-Jones averages but declines beat out gains by 457 to 456 in the final count.
ulony for
the Armeo Stref
riso
Things went bulls with the steel and railroad shares leading a general Trading picked up, too, and that, helped sentimerat.
Wall Street looked for an early end of the steel strike as negotiators went
morning session marker
ron into
Into
"The dilleulty
A700
Baldwin - Lima-flam Baltimore & Ohlu Bendix Aviation Corp Benguet Cone. Bethlehern Steel
The third power statun will beat Basrah. It too will serve
the elty area. Arst
WHE Σήτησης provide power for Bohern frasz It will have 11 Anal output of 140,000 KW
To meet the country's need for large quantizies of cement of <lams. for the construction
reservoirs,
bridges
and roads.
the Board as constructing twn cement factories
near
Almost Complete
#1
The first will be at Serenjas,
Ariatmaniyah
Lize Kurdistan şarea and the second at Harm Al-Alil, just mutside j Mosul in ndulhern Eng
1013 ! be finished in December.
Brindus of Brussels,
consulting
engineers
Development
Board,
stant and a chemical factory to be run by using natural gas. now being completed
ונו
Ek
The scheures workert
will the report
te carried through as part of the {1༢་༢ your plan Chus Mod Special
who are the
July prepared Sept The plans and estimates for both i Dee factories.
Bueing Airplane horden (The
DOS
Cu.
2016
A
Burroughs Add Machine
4431
Canadian Paciße K
3211
Care 1) Co
1437
Tractor
M
Celanese Corp
10
CI. T Financial Carp
47
Care Manhat Bank
49:
Chrysler Muform
6431
11.
423
4B
£27!!
Some late Arading | Cat in the when the afternoon steel meet- ing wor
4.30 reset
p.in, Another reason for the profit- Lie the height of
taking was
averages.
L
The industrials were
record high,
bumping their
#
level at which many people are willing to tell sock
Industrial lares elused willi
of about Roid
a pun on Average, but the finish WIN down mort them 2 points from Rully Anished lower 11⁄2 ts
Uulties with
the early high.
thoru
than
from their high,
a small rise ended the day at a
new high for more than years.
The theth
Narrower
26
was narrower
market
by seven yesterday's issues with 1.107 stocks appear ing on the tape.
of
A total of 244 them closed unchanged, There were 32 highs, one more than yesterday and two less than session
Colgate-Padiolive Co Commercial Cred
Commonwealth Eler
| Presedilated Exlimate
Continental Oil of Del
Crane C'
Crown Zelterbneli
Cuban Amer Sugar
Together they will cost Bome 8,000,000 dinars. Each is design-
WORLD RUBBER MARKETS
SECTION
Page
POOR RUBBER Int'l Whaling Commission
Colombo, July 25. China complained omeläily to Ceylon today that
only 70 per pent of the rubber shipped to China under the current trado dgreement in met the
speelhed wiandards while 11
cent described as poor quality."
Der
The Ceylon Rubber Comitestoner is conferring with producers on mitatin to uphold the standards, United Press,
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done the Hang-
and
kong, Stock Exchange this mom
ng mounted to approximately $830,000. Noon quotations the morning's transactiona:
Shares Buyers Sellers
than westerday's
Sellers of the distant month, according to trods eireles, may be looking ahead to the posse BANKS tulity of a big celton crop prxt
which consequently East Anka ver uld lower the lous rate.
The market falled to respond : INSURANCES to the overnight sanouncement of collon Textile subsidy rates,
The Department of Agricul- SHIPPING
Asta Nav uf 6.58 Wheelock ture said a base rate
will be paid pocks. Ere cents a pound
Males
IK Book XD
1061
50
$1676
244
02'
43
Union
Lombar
produc:s | Where
exporters
of cotton
shipped on or
after August 1
Dock
the subtly is designed to help Pvident U exporters compete abroad.
Volume Open interest
Prices of tukirts closed today Star Ferry allows
10=88
NEW ORLEANS
Prices of futures closed today
5
40+
142
1300 ZEN
1+ 330
י7
700 031
Hopes Russia Will
Limit Its Catchers
London, July 25. Official spokesmen for the International Whaling Commission here would not comment on Oslo reports that the Soviet Union was 'refusing to come into an agreement to limit the number of whalers operating in the Antarctic during the coming months.
or
They refused to confirin deny that the Soviet delegates
'discussions.
had been approacted in private New York Sugar
B:11 well inlarmed trade :sources here suid rul approach had been made to the Soviel Union for the first time several Soviet days ago and that the representative,
Soldanick may have had to communicate a with Moscow for instructions.
Mr
1
Market
New York, July 125. World No. 4 sugar futures to- day closed unchanged to one point higher with sales of 24 contructs.
Domestic No. # sugar futures closed unchanged to ano point higher with sales tracts.
A private agreement had al- month ready been reached age between whalers from Nor
Helland, South way. Britain, Africa and Japan to reduce the number of calebers operating with
the factory ships Amtaretle by about 30 vernets in the coming season. This was for! economy reasons and to extend Me The seasoYTİ,
No Difference
of 21 con-
Activity in both the domestic
and world futures markets fell off considerably today but the nearby domestic September contract again reached
Futures: 1956 high.
Contract No. 4 (world)
Odl
May Juls
Sepil
A new
Spot-Verpla per 1 tob Cutina
Contract No. #
MAI July Spot rents per th elt NÝ
ex-duty a
5.03 -United Pres
The Soviet Union. the only fegit .country operating
govern- Nov. ment-controlled expedition, was not approached when the origin- 10 1470 al agreement was made 11 is
understood that it was deckled on at that time to put the
the before
Soviet agreement Government representative 4t thie week's meeting of the Commission-un Inter-govern- mental dy--arid ask him Jezits
א 12
1
to
No informalkun 13 avaliable yet on what happened at a rumoured meeting between parties.
the
But trade sources here say
that it will make no difference
650 or 23.40 to the agreement whether the 500 e 23.40 Soviet Union enters it or not.
23 66 The other countries
will
25 50tinue with their plans.
30.40
Electric Telephon
322
2)
1000
on 321
25 25 DO
2000 300
INDUSTRIALS
Cement
STORES
ETC
32.23
Dairy
Watson
32.44
HWR 4,
32,40
312 Textile Corp 3068
COTTONS
Nonyang 30.43 INVESTMENTS 30 44 11.3. & F.E
Invest
con-
A prominent whaling conceŢII, which accounts for a major part
10 14.30 2300 14:30 of the 12.00 13
150
+.00 470 3324 85 7 50 772
11
910 330
345353
187030
said:
British Antarctic fleet, "It would help if the Soviet Union joined in, because that would help to extend
slightly. But
season
stands
out it will make
difference
the
she
no
at all to the other countries' determination to con- tinue as planned."-China Mall Special
140,
14 BO
Month
Det
10,000 280, 200
Dec
13,400
520,900
Mer
3,900 324,400
May
1.000
101,800
Jul
1,400
E20,000
Chat
5,000
30.010
LAND, ETC
Hote ICK L Shot Land Really
RUBBER Amalk
$15
13:00 15:00 (59)
SODE V
$203
09
1 no 1920
1476521,
Ber
200
5,000
Trust
£57%
Total
30,000 1,442,000 balen
New York, July 5 The No. 1 Hes rubber futures to 75 contract today cinsed 30 points higher with sales of 110 vontracts
NEW YORK
TO,ITIES Tram
Yaumati <th>
25 23 10
0100... 25
140
200142
113
13
24 10
20
5:00 20
Spot Øet Dec
34. Z
100 25.10
2300
23
Lent INI
22 M
22 40
700 / 22.40
The standard contrael closed 25 to 70 points higher with no tules reported.
Mu
200 or 22%
MAY
July
Oct
11
143
The Serenjur factory mest complete
Closing prices
Der
No. 1 Bases
3.33
20
The Mosul factory
1 1
Judy Sep
34 24
as follows
12.80
Stot
310x1
Belgian
Mensis
Oct
Chec
Standard contract
MINT
May
33.00
32.09
July
Oct.
30 20
Der
Mor
Min
July
29 03 2.120 20.30
LIVERPOUL
Futures strengthened Futura prices
buying. per ib. mainly on speculative
No 1 Rss was Spol
quoted Old contract nominally at 34 cents a pound.
closings. were as follows:
111
pence
July/Aug
27.20
Oct/Nov
24.10
23.10
Mor/Apr
23.10
AMSTERDAM
May/June
July/Aug
The
market was steady. New contract Oct Nov Prices closed today in gutklers i per kilogram, eif Aug. as fol-
Dec/Jan.
Mor/Apr
May/June
July/Aug
OWS:
No. 1 rubber
2,85 buyer
200 buyera }
SAO PAULO
2,48 buyerW
320 buyers
per kilo were as follows:
October
LONDON
December
March
Just
The market was very sieudy with spol quoted ut 20-6/10
Prices: pence per id, No. 1 R spol
Settlement house ferin
May July
2014-2016
2012-201 2-334-25
wis
at
13
3.33 today. 38.40
Wheat prices showed a decline 30.60 as proft-talking and scattered 38.40 3.10 hedge selling became prevalent. The US pot price In the 14 A dip in ryc prices
unbuted to the falling wheat mar- Lead markets designated avellable todny Sales merkets totalled 9,836 boles.
pot a-month was attri-Copper Epät
3-month 2nd half Lead 2nd half Zinc 2nd half Zine 2nd half
buyers selicte
750
Oct. July
#2
-United Press.
2311-234
24-2416
2441-2435
The
| drop in soybeans prices. export
market
24% nom.
42
131
and
074
401
20
The mill has
25,000 spindles Aug
well 630
Sept loarps 19
Oct. taellities for bleaching, dyeing.
Estale crepe this Aug.
thick printing and finishing.
2011-20-11
ELN
251-20 2515-2516 33
30
100
and
SINGAPORE
The market
was inclined to
સ tu produce 350 tons wi cement a day. The two facturies
that svere
by so constructed
machinery The 301 adding certain 6431 daily production can, If nexes-
sary, he doubled.
I
10
Diamond Alkali
BON
Dow Chemicals
7731
Dupont de Nemours
21541
Etman Kodak
มอน
El Pano National Ga
Eri, Railrund
Family Finance Comi
Ford Motor
General Electrk
General Foods
General Malom
Gen. Pub. Qu
Getty On
Odden Co.
| Heyden Chemical
onsloke Mining Co
Ingersoll-Band
1409
213
Both factories have their own; generaling plants and houses for engineers and labourers
Provide Surplus
, No 2 raber
No 3 rubber
No 1 crepe suid
The Board's spokesman that the two new factories, with twu privite ones already operut- 20ing in fraq, would not only meet the country's needs, but would provide a surplus for export to neighbouring countries.
Goodrich (D
P) Ca
Goodyear Tyre
781
is
94
Inland Steel Co
BOK
Int'l Business Machineh
137
11' Harvester
| International Nickel
12 lows,
International Paper Into Tel & Tel
In the previous
Soles for the session lotulled 2,220,000 shares.
The rise in ralls was induced mainly by a gain of nearly $4
& share in Santa Fe which more than oftet n loss of $1.50 Union Pacific,
The industrials rise was pro- duced mostly by $2.50 gain in Du Pont,
Steels did well with their best
Kansas C. Power & Light John-Manville Co.
Kennett Copper Liggett Meyers Tob Cn. Lockheed Aireratt
news Incor Lone Star Cement Co. Louisville & Nashville R. Lowenstein & Sons.
Membi Iron Corp
A cotton mill at Mosul. completed at a cost of more than, Aug. ¡Sept. 41% 8,000,000
will produce Del/Dec dinars
yards square
of Jan/Mar fabric and 200 tons of yarn
#Apr/June July/Sept.
100% 19,000,000
BAT year.
$4
A 3,000 KW power station |
200 about
houses have been built near the mill.
This and existing fragi cotton
General morketa, clf basis, ports:
mills will meet the demands of be easier on reports of probable cotton settlement of United States steel
the home
market for 44fabrics and will save the country
[3
Minnesota Mining
737%
Migalon Development
40
Mormante Chemical Co
42
Montgomery Ward
4316
|
Motorola Le.
a group Ralns In
the National Lead
National Cash Reg "A" National Datry Prod
00
42
110%
74
used
group outside the stocks
National Steel Corp. New York Central
to calculate the averages. In Olin Mathieson this section Youngstown Sheet
and Tube gained nearly 2 and Crucible Steel the same.
Metals had a good market
for a time with the coppers
Otis Elevators
Owen-Blinots Glam
Pacific Gen & Elec.
Pan American Airways
Paramount Pictures
Parko Davis Co. Penny J. C. Co.
and aluminiums ira demand. Penn. Salt Co. These issues held part of their Philip Morria
rise. Olis produced a long list
of gainers up to $1.23 a share
in
Proctor & Gamble Co. Pittburgh Pante Glass Publicker Industriez
Continental. The mators Pure Oli
were up a mite.
Radio Corporation
Republic Steel.
New York Stock Exchange Reynolds Metal hord volume, was, $3,350,000.
American
Shall Oll Co.
·Saint Het. Paper
Stock Exchange Sinclair On
volume was 620,000 shares.
Dow Jones closing
were:
30 Industrials
20 raita.
15 title=
03 sideks
Comm; fare price index
afoody's index
40 bonds
averages
Closing Prices
Alden The Ar
Allled Chemical
Alle Chalmers
· American Airline
American Cable & ttadio Cor American Cyanistide Co. Arherican Metal American Bhalting American TORMENI Americans Tob, "n Anaoenda Copper
Socony Mobilonl
Bouth Puerto Rico Sugar
Bouthern National Gas Southern Railway (Com.) 514.13 Blandare Brands
171-31 Randard Oll of Cal. 20.31 Anders Oil of Ind. 102.87 Standard Olle N., 147.10
414.10
Gjering Drug Co.
|:Stokely-Van_Camp.
1.52 Studebaker-Packard Corp
Swilt & Co.
Texas Co.******
„Tide. Water Arm. Olí
Twenty_Century Fox Film
193 Union Carbide
nion Pacific Railway
lied Aircraft
941 U.. Gypeum
DUA Line Co. 741% 7.8. Rubber
29 UB. Smelling
63% Warner Bros.
1868 12 AVest Va. Pulp
791% Woolworth
Paper
about 10,000,000 dinars a year on Imports.
within
Sull
the scope of the ! 401, five-year plan the first govern- 57% ment-owned sugar plant is to 50% be built at Mosul by a German
firm, Salzgitter Industrie Bau.
it will cost 2,040,011 and is due to be November, 1957.
1
19
trike.
it closed off a bit from the
Futures: best of the day. No. nibber
per ib.
August
September
2131-0132 90%-0012 unquoted
October
No. 2 rubber per lb. Aug. DOVEDI No. 3 rubber per lb. Aug. 66-Bʊy, E No. 4 rubber per ib. Aug. 834-0314 91-013% dinars Spot rubber unbaled 20 Inished by
71-73 Binnkel crepe No. 1 pale crepe
111-13: -United Pread. “
Sugar Plants
Dec/Jan.
14T003e
CHICAGO GRAIN
MARKET
Chicago. July 25
Grain futures were mixed at
LONDON METAL
PRICES
London, July 25. .Prices of metals closed today Futures closings, in cruzeiros! the close of the Board of Trade in sterling per long ton
follows:
kel.
weak market in soybean oil (and meal futures caused a sharp
ថ
was
KARACHI There was very little interest
France purchased in the current crop on the raw strong
Prices per large wheat supplies. market here today
Wheat closed
off % to 1% closed
cents, soybeans off 1% to 3% 70/12 cents. Futures: 70 Wheat, No. 2, red TR/0 30/4
muund follows:
ח1
rupees
4F Punjab roller gin 20F Sind roller gin 2007 Sind saw gin 280F Punjab roller gin 200F Punjab Raw gin
-United Press.
Singapore
IL5
Stock Market
Singapore, July 20. Brokers today quoted following stock prices;
Batu Lintang
Rubber Co, Ltd.
British Bartico
Consolidated Tin
Smeltera: Ord.
Soybeans, No. 2. yellow
Spot
210
Sept. 218(1) 210(L)
2104-210
3974
Nov...
240-4
Mar.
22216
May
219%-15
Corn, No. 2. yellow
Spot
130-150m
Sept
[al-%
Nov
13674-137
Mo
May
1423 144
Kyo
Sept.
Nov.
14274
Dals
Sept. the
Nov.
Opening
Spot
$1.CO
Sept.
Nov.
Petroleum Syndicate
83% 50
Jan.
Afer
20.
Moy
Fraser & Neave Ltd. ord.
$1.05
Barley
(Spot Arti
2-5% cum. pref
$5.60
New York flour:
Hongkong & Shanghai
200 16. sack
Banking Corp. (eumdiv),
$.000
Hongkong Tin Ltd.
5-91
New York, July 26,
Kempas Ltd,
$1.70
Luna Rubber. Estales Led
0.73
2.10%
Mainyan Breweries
$2.75
2.14
2.231
New Berandah Rubber
Co., Ltd.
£1.73
$3,27
2.7016
Names Hotel
.0201
Bingapore Cold Storage
31,47
$3.33
tadby hi Canadian cents. per bushel is follows:
.2013
South British Insurative
Date
.0073
Co. Lid...***
$30.00 July
2375
Straits Trading
824.00
Oct.
*2003
Straits. Stearishilp
$13.70
Dec.
.1007
United Enginenin Örd,
10.00
May
Unto Press.
Wearne BrOR,
$2.06
RYO
--China Mall Special.
July
Oct.
100.
May,
Rates
The plant will produce 35,000 New York Foreign
tons of sugar a year, of which
*4515 | 10,000 tons will be from home-
grown sugar, best..
abmw.material · until 'sugar beet
Exchange
The remaining, 25,000 tons will be
produced from Imported England ofthett
30-day futures 10-day futures 411% production in northern Troq can | Austraila
New Zealand 3714
The Board intends to build South Africa
Belgium two other sugar plants this year, Holland A bitumen refinery plant at Peru Qayara, south of Mosul, bullt Uruguay
00
20
4031
be expanded.
India
at a cost of 855,000 dinars is Pakistan already in full operation.
able
to handle The plant 4300,000 tons of bitumen a year.
Prasor & Neava
2.70 3/18 | Petaling Tin Lid."
2% which is sold locally at oight London. Foreign
diars ton. Imported bitumen
311%
uned to
cost 30 dinara a toil
The refinery
also, produces
2934 |the followving antimă amounts of
2014
by-products: 13,300 tons of
Exchange
ligki kerosene, 8,000 tona of New York hony Heroadtia "enja) 0,000, tons of benzine, vi
The American firm "of Arthur D. Little, economic conltants
Montreal
Parik
London, July 26/
2.70 1/10/2,17056 20
10.30-10.15 99011⁄2-900"]".
United' Press,
Others; were: unchanged
Exchange
24314-12
120-140.
$13.50
United Press,
WINNIPEG, GRAIN PRICES
Winnipeg, July 25.
Pricts of grain futures closed.
trarfoy
July
Oct.
Dio,
kultnesa was done in the - 16cal uboffefal - gerchange market: this;} } DARY/ morning at the following rates:- Flaxwood 17.8; Holarak poruk1), 21., 1995.98|| 7 JULY Sterling notée (per el
10.07:
Austrálián, nates, (per/k3)AYSIAN Indonesian rupiah (per 100) 15.80 Blam, tiesi - (par) 100)(((:00 singapore); (šteutta) (ava
Dec.
May
Wheat
05
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