TRADE
THE CHINA MAIL, TUESDAY, AUGUST · 7, 1956.
and
COMMERCE
SECTION
NEW YORK RESERVES SATISFACTORY General Motors
RUBBER MARKET
New York, Aug. 6.
The No. 1 Res rubber
futures
contract
closed 159 to 215 higher with sales
today points of 120
contracts.
The standard contract closed 140 to 210 points
higher with sales of 27 contracts.
The Rex contruct closed 155
to 210 points higher with siler of 34 contructs.
Closing prices were
1
New York Sugar Big Improvement
Market
New York, Aug. 6. World No. 場
sugar
futures
closed today two to four points higher with Fales of 38 Cun- Traels
Domestic No. 6 sugar futures closed a point tower with sales of 164 contracts.
No. 1
Julerest in both the futures and raw
sugur markets Was rather light again today. the one th and Cuban prices remained unchanged
Futures
Both
spot
Sept
20-40
Contract No. 4 (world)
Dec
Standard contraet
$
240p 337
Sept
10 25
Mor
Dee
Mar
*
300
MAY
Seul
32
July
Tam bæt 15t
Job Listen
NEN JA
Contract No. 0
Itex contract
3432
NO QU
IN..s
AIKI
Nuv
Max
541
34 ZA
July
AAL
31.90
e-chuty
20 JA
30 00
T
over the
There
Mai
Mar
July
8ཐཱstz!
Trading 14 rubber futures. was mostly speculative
reflecting nervousijiaz
Suez Chund
situation
was very little buyin factory
Trusty the outside market.
The London mand Singapore markets were closed today for The August Bank holiday. Spot No. Rss was quoted at 30% cents a poreni.
akten Prent
3 113
Ib V NY
United Pres+#+
CHICAGO LARD FUTURES
Chiengo, Aug. 9. Patzes of lord futures closed detay 15 cents per 30 as follows: Sesteraber
11071 11. 00m 13 e
October November Drevinbeg
Alat Piss
Suez Canal Seizure
Causes Selling On Wall Street
New York, Aug. 6.
The worsening crisis over the Suez seizure pulled the rug out from under the stock market today.
Selling triggered by fears thut | Anaconda Copper other
Aral
nationale Live
the
thum
Middle East lopped mare
$2 billion
markel worst tweak Eisenhower's
valuations in the
sine Presiden) illness on June 8.
70%
nations In ly
Armour
vil Industry Ini
Baldwin-Laina-tam.
1416
Baltimore & Ohlo
104
Bendix Avalon Curp
If
Benguet Con
329% 13
Bethlehem Steel
104%
Boeing Airpinte
201
Burden (The
Co
02
Buroughs Add Machine
Canadian Pacific
41. 343.
[3
$54
ZITA
01.
422
Olly WIT hard Jil gtl showed losses ranging several point, we their lows. However, a te rally reduced. all seellons of the market.
Cat Timeles
Celanese Col
| 1 lanau Maneat Dunk Hessey In | Chrysler Malars
Climax Molybdenun Poignie. Palmolive Co toristsereial fred
Commonwealth Fee
At one point the murket was uff Sf billet from yesterday. The rally.
powered by
pak 6 bright varnings reports economile vuticok restcred $1 frown Zelithsch
trillion to the valuation of all
crane Co
الاول
346
15. 50
Logsdictatest Faliment L'ontinental Ol of Dei
Cuban Ainer Sugar
Duo Alkut
Dow Chemicals
the noor
Phajoint de Nemours
Eastman Kodak
$17
53 Pame National Gam
stocks listed on the "big boord."
Murket
market's
experts recent rise
Bied
to
record levels made it vulnerable | Erie Railroad
to
a selling wave. They said
many investers and speculators used the Egyptian situation is
turi
excuse for doing a
selling.
Steels Off
Family Finance Comp
General Electric
Ford Motue
General Pros Gemerni Motors
Gen. Pub West
little
Getty Oll
Glidden to
Goodrien 125 K Co
Goodyear Tre
Loss wire heavy in other segments
Bethlehem
of
the inarket.
Steel Jos! more Not even than 3 in the steels.
Heyden Chemical
make Mining Co.
Internoll-Itarted
Inland Steet Co Interchemtent Corp
Machines
Int) Businew Int'l Barvester
International Paper Int'l Tel & Tel
the resumption of production International Nickel
after a 35-day steel strike could stem the ude here. Youngstown was off almost
Aluminium
shares also fell. Aluminium fell almost 4, Alcoa almost 3 und Kennecott und International Nicket more than 2.
Ratiroads
a share
Of the
also
and utilitics staggered under the weight of Josses
sses ranging to more than $1 1,175 Lastes traded today, 807 stocks declined, 178 advanced, and 192 held un- changed.
The most nottve issue Loday was Royal Dutch, with 40,000 shares changing hands. Gulf was next with 41,200 shares. On the American Exchange, British Petroleum was the most active I tell $1.50 on volume
влатся
Issue of 10,900 shares, including a single
block of more than 10,000 New York Stock Exchange bond volume was $3,470,000.
American
Exchange Stock volume was 980,000 shares.
Dow Jones closing averages were:
30 Industrials
23 mil
12 utilitlen
83 stocks
40 bonds
Comm, future price Index
Comm. spot price Moody's index.
Closing Prices
Alden Ino. ACY. -Allled Chernioa la "Allled Mille The.
· Allis, 'Chalara Aretoan Airline American Cable
Radio
American Cynzamide Co. Amar de XoyEE, POWDE Am. Machi * "Mary,
·American Meta16216,
Pam, Bugar Tet, "American "TWIN „Amerioun „Iob,["E
513.08
John Manville Cu
Kansas C. Power & Light
Kennecot! Copper
Liggett Meyers Tob.
Lockheed Aircraft Loews Incorp Lone Star Cement Co. Louleville & Nashville R.
Lowenstein & Sons,
Mesabi Irun Corp.
Minnesota Mining Mission Development Mocanto Chemical Co.
Montgomery Ward Motorola Inc. Natoinal Cash Reg. "A" National Dairy Prod. National Lead ..... National Steel Corp. New York Centraf Olin Mathieson
Otis Elevators Paolfie Gas & Elet, Pan American Airways Paramount Pictures
Parke Davis Co.
Penny J. C, Co.
Penn Ball Co. Philip Marzia
Procter & Gamble Co.
Publicker Industries Pittsburgh Plate Glass Pure Oli Ratio Corporation
Republic Sten!
Reynolds Metal
Bball Oil Co.
Saint Reg, Paper Sinclair O
Bocony Mobilol.
167,64 South Puerto Rico Sugar
70.01 Southern National Gas ... 181.08 Bouthern Rallway (Com.)
96.05 Standard Brand
159.45 Blandard Oil of Cal
183.70 Standard Oil of Ind 419.50 Stepdard Oil of N.:
Steep Rock
Over Last Year:
No Relaxation Yet
From
RONALD BOXALL
London, Aug. 6.
US STEEL
PRICE
RAISED
New York, Aug. 6. The giant US Steel steel Corp. today raised prices an average of $8.50 a ton to offact higher la-
United Steelworkers of America.
*The three-year agreement
Coming from a government depart-bour costs stemming from three-year contract ment whose members are schooled to the take nothing for granted until at least 18 signed last week with the months have elapsed for mature reflec- tion, the Treasury's comment on the rise in the gold and dollar reserves in July counts as high praise. Less inhibited observers, however, have said right out that a gold gain of $20 million at this products made of steel. time of the year is better than just “not unsatisfactory.”
Consider what happened during } the month. There was a widely pubileised strike of our workers (which is offelally "on" even though the factories cor- cerned have clo
Northoles as one mith's performane; -- and particularly when it is contrasted with what i was limppening a year ago......the July Byurea fully justify souls- for the | (helint. But i vrtaluly does not annual holidays). There was arsenas Uhat we can now alTorel to the usual flow of five spending relax disinflatioasary pressure on
the
had Continent, rach
which "cononly ime of them with a thy part of played a big part in making the the gold reserves in his pocket, improvement possible. exam if he didn't know 11, And This was made elvar in
Taurists to the
the
by
with the USW will rub the in- more than $1.3 billich.
dustry's total Jubour costs
moan
rise will The price higher retall prices for the many
that
The announced price increas. hy US Steel was below antielpated Most observer Bad speculated prices would be rat od $10 to 12 a ton
35-DAY STRIKE
came as
The price increase steel plants pressed to get back into production after the 35-day strike that cost more than $50 million a day.
Industry spokesman said the $850 on inervese meant the world's biggest steel company
**ubsorbing** Wis
some of the inercased wage cost in an effort of mitigate the inflationary effect of the price rise, Unalted Pros.
Dividend
New York, Aug. 1. General Motors Corp. today declared a dividend of 50 cents a share on ite
common Neptember 10 to holders of record 16,
mlock. payable
stock. August
This is unchanged" from the two previous payments made March 10 and Juno 9.-United Preis.
HONGKONG STOCK EXCHANGE
Cotton Futures Show Strength
New York, Aug. 6.
Cotton futures moved higher in moderate dealing today, with the distant deliveries showing the most strength.
Nearby months advanced slightly on domestic and foreign price fixing which encountered only limited offerings.
At the close, the list ruled j
NEW YORK
two N 21 points higher, The Prices of futures cloved today maket opened two higher to New Orleans cford ume lower Alx to 24 higher
The vise in the for-off de
the mere:red Ivories reflected popularity of the well bank 1 is believed in ciuw elrek that the so bank next year will be more effcetive in reducing colfon Caervage. This, in turn, would
brost loan rates
as follows:
| Spol
Ok tatter
December
March May July
October December
NEW ORLEANS
Prices of futures closed today as follows: Spot October
32.50
33.00
Bales
Mory trutors $11 were Doceniber awalling the Government's erop May estimate on Wednesday, Aup, 8. Private estimates 190 far have October beet below sxpectations, bul have failed to stir the market,
32.78
22.27
32.52
31.00 31,40-41
December
31.42
SAO PAULO
(Prom Our Correspondent)
Business done on the Hong- kong Stock Exchange ttus merning amounted to approxi- mately $860,000. Noon quotations and the morning's transactions:
Shares Buyers #ellers
BANKS
UK Bank Plant Asin
March
The New York Collon Ex- Futures closings, in pence per
chunge reported experts for thelb, were as follows;
ப
241
INSURANCES
Unles
SHIPPING Wheelck
070
crop year ending July 31
at
2,192,029 bules. against 3,445,473
Aug.
Oct.
1,00
85.70 6000 4 1.09
in the previous year.
Doc.
Mar
DOCKS. ETC
Month
Volume Open Interest
May
K. Whart Duck
07
Uka
October
0.100
204.800
July
43
December
19,500
139,000
March
1,800
3303,800
LAND, ETC" FUSC Bud
May
5.100
164200
14 20
500 g 14.00
July
3,500
120,000
1000
24.40
October
11,200
47,000
4000
14.20
December
15K Land.
20
00
100 07
Total
of course there was the Suez | Government's progress report in business which on top of Bri- the enrijsign to stabiilse Briush tain's other economie troubles is prices and cons which is the hurelly calculated to Increase key to any lasting improvement confidence in the sterling arvo in the reserve),
Progress
made
so far, it said, i has been reflectext throughout 12 economy... Retall prices have remained Comparatively steady CHICAGO GRAIN A
Seasonal Strain
These things happened, mure- over, in a month wher
the sterling area's gold reserves are feeling a normal seasonal strain as Imports from the dollar arva increase azil exporia decine.
In
The story of the gold reserves in 1950 has been one of steady, If unspectacular progress. Die tot seven months of the your the reserves bave gained $285 million and thus more than recovered the heavy losses of the inst four months of 1955.
In the sine seven months of last year the reserves lost $218 million-more than a half of B July. But this July inst
af kang gold we were gaining 11
ali
could
In
All spokesman
unle
over the past two or three months, exporta have risen substantially and there has been | a "considerable" Improvement in the balance of payments and in the gold reserves.
National Interest
MARKET
DE ** DOT
100 00
200 à 6512
입니다 ? 집에가다
1400 05
Really
RUZKUDH
1470
1475 102
6000 v 1.025 3000 1 1.00
1000 GS
5000 1.00
400 23,50
500 29.40 400 à 29.20
UTILITIES
Trom
Yอเมร
107
118
Chicago, Aug, 0.
CL (0) 21.20 23,00
200 @ 23.0u
30
8000 30
1200 DO
1000 24.20
500
23.80
1000
23.70
3000 23.00
The
grain futures markel firm to closed
Electric strong on the Board of Trade today.
Wheat, rye and soybeans made Telephone But this improvement is by the largest gaine as commission meates sufficient. The state- house short covering pushed the
A Threats WITA
strong flour mill to the market up. stability ut costs and prices buying holped the advance in mtersin
wheat futures, while reports that Canada would harve sim rye crop helped gains in that murkti.
ment
Tho
Government emphasis. ed, therefore, that the national interest could only he served by
continuing
effort
keep prices steady d if possible
them reluce
"even where this process would affect
Lo
then,
في الي الراحة
(Q) 23.70
2340
(N)
INDUSTRIALS
Cemen
3412
3924
ຕ
STORES, ETC. Dairy
14 700
13.00
Lane Crow 20
COTTONS
700 v 2920
4.40
2 Textiles tu
INVESTMENTS
620
The stimulated baying.
Whent closed up conls; soybeans
Surz
situation Canal
I
110
lo 17%
Alted
Futures:
CLOSING PRICES
from Wheat, red, No. 2
the Treasury have sub- skifted "satisfactory" for the profits and dividends." All those cents. 4412 negative phrase
up responsible for decking the levej without pestring frivolous.
of wages are reminded that a But
he
sinullar recognition of the na- would have been right to qualify
tional need" is expected this with hie usun warning that
month's gold
and 2131,
dottur figures can be misleading.
pain Last month's gold
of 312% 263% | $20 million was arrived at after 20% crediting the reserves with $16
inillion of American
defence (in unusually
large
"mount) side $20 million was paid over to the European Payments Union in part seitje- ment of the previous month's defelt with Western Europe and in bilateral payments creditors of the Union.
1936
42
20
2154
76
34%
701%
03
Goz
379%
ག
On the debil
these transactions
Taken in conjunction with their recent "request" to banks not to relay the credit squeeze this can only moun Lirat the Government ald
is determined lo the fight against inflation
Lo through
the finish- popularity polls notwithstanding. London Expreza Service.
to
Bre
87% excluded the true state of the dollar balance with the world 100g outside Western Europe in July 140% (appears to have been a "nol
Bay
32unsatisfactory" surplus
43
million.
137
COP!
404
20%
100
Warning Note
of $32
SCC
NY SILVER
PRICE UP
New York, Aug. 6. The price of silver edged up cend today to 90 cents a Ane aunec, reflecting increased demand for industrial usĖS.
Hundy & Harman, bullion
But this is where the warning dealers, quoted the new price
note should
For be sounded.
noting it in the first change last month was a bad
one for since July 5. our financial
transactions with Western Europe.
2102-9%
Singapore
Stock Market
Singapore. Aug. 7. Brokers today quoted the ful- 10in 14775-148lowing stock prices: 138-14-1 1424-1 1451
1:30 140-139%
Opening
Batu Lintang Rubber Du, 1 $1.00 British Borned Petroleum
Byndicate
Consolidated Tin Smelter
Ord,
12/00
29/- Fraper Neave Lid. Ord. $1.07 Fraser * Neave Lid 7}%%
*
ungtotąd
30,00
30.60
32.45
3780
37.20
1,000 10,200
In the US the uverige price for 1-inch middling cotton at
14 desenated apot markets was 32.00 cents. Sales totalled 1,484,700 bales 18,783 bales.--United Press.
B.500
P.OB.I
E&A
COMPANIES
Gutwards "CANTON"
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
“CHUSAN”*
Leaves London
Stalled
16th August 12th September
25th Beperkar
Due Hongkong 20th August 17th September 15th October
27th October
Via Southampton, Port Said, Aden, Bombay, Colombo,
Homewards
Penang & Bingapore.
Leaves Hongkong Bus London
"CORFU”
"CARTHAGE"
"CANTON"
"CORFU
24th Augu
24th September
List September
rand October
"CARTHAGE" 19th October
"CHUSAN”
Vis
Singapore,
"ADEN"
October
PERARE,
Colombs,
Port BALE &
19th November
77th Novetpber
Hombay,
London.
FREIGHT SERVICE
que 10th Aug
"SHILLONG”lands 1512 Aug.
Брой
213PA
Sept. 217
21612)
Nov.
Mar,
223%-
May
722
Corn, No. 2, yellow
Spot
Bept.
Nov
Mar
May
Rye
Sep1.
Nov
Oste
Sept.
cum. pref.
$5,50
Nov,
30
Hongkong & Shanghai Bank-
Soybeans, No. 2, yellow
ing Corp.
Spot
244-24511
Hongkong Tin Ltd.
$890 xd 8/04
Sept.
24114
Kempen LA.
#1.72
Nov.
Laman Rubber Estates Ltd. 0,75
Jan.
2414
| Malayan Breweries
2.33
Mar
244
New Berandah Rubber Co.
Мду
245
LA.
$1.77"
Petaling in itd.
$3.08
Raffles Hoto)
130-140
Singapore Cold Storage
$2.35 $1.49
"SOUDAN"
due 14th Sept.
$13.40 -United PreRY,
South British Insurance Co.
Led.
Strutte Trading
Straits Steamship
United Engineers Ord.
Barley,
Bpot
New York flour
200 lb. sack
high New York Coffee
The metal reached this year on Feb. 17 at 91 % ochts an ounce.
'The bullion dealers noted that reopening of plants following a than vacation closing found increased in demand for the white metal,
July is a popular month for and holidays and as British Commonwealth tourists spend more on the Continent European
tourists spend Britain threequarters of difference was
adrula on the
the
gold reserves.
18
Throughout the
month
30
the
German mark was exceptionally strong in the foreign exchange market and switching into this 45% currency resulted in a specula-
tive movement
against
Prices
New York, Aug. 0. Santo "B" coffee futures to-
to 145 day closed 50
points
The market in London was higher with sales of 298 con- closed today for a holiday United Presti,
NEW YORK OIL
tracts.
The "M" contract closed 100 to 125 points higher with sales | of 74 contruęfis.
Strength in futurée prices reflected reports of min dam- age and reduced crop estimates from Brazil,
the
AND SEED
13 pound. In the last few days of
95 the month the Suez situation.
ay with the coming and going of
New York, Aug. 6. Prices of cotton soed cil
NODO
In the spot market, Santos 41
cent to 50 centa
31 statemen in London, the naval futures closed today in cents per pound. Prices were: 001 movements and troop call-up-lb. us follows:
caused a further fall Adence in sterling.
of com
Sept.
Oc
Dee
0731
So in addition to the $50
Jan.
43
1% milon that will have to be
paid out this month in 3014 payment of the June deficit will
Mar
May
Bart
July
Best.
13
B01L
Bates 106 contracte. KPU countries the reserves will now have to withstand the
... Today, no pelos strain of declining confidence in 193| sterling me well 09 normal 20 seasonal pressures."
Sterling Drug Co.
Bjokely-Van Camp, Studebaker-Packard Corp. Swift de Co.
2214 Aços Co. 119)
Tide Water Awn. Oil
Twenty Century Fox Film Union Carbide
Union Padle Rajwi
245 United Aircraft
B
1.8. Сурчол
U.S. Line Co.
24 |U.K!· Rübler-
10.S.Smejting.
50 Warner Bros BEL) Werthighouse. 99% WeV4, Pulp
Woolworth
405
Satisfaction
Sept.
14.43
Dec.
73.70
14.45
Mar.
02.00
14.30
MAY
07.99
14.33
July
06.25
3670
14.30
United Prce.
14.18
14.10
Soybean oil was quoted at 115% conte copes was quoted at $150 short ton, cit Pacific Coast;
per, lb, west cost-United Press,
Dooodnut oil was at 10% cents
And that may not be all that New York Foreign
is In store for August For
poyment of $11 million by
London 'unskururilers, in corner- / Exchange
2014 | dimster, though v mado"in","thd[[or]
tion with the Andren Doria
Now, You
Prosa,
closing days - 62 Fity, tờ đónn det | Canada appear to have been included in England the month's rok), and duller ac- courit
201-11/14
a
Wegrne Bros.
* eumdiy-China Mall Special
NEW YORK SILK FUTURES
New York. Aug. 0. Silk futures today closed un- changed with no sales reported
Closing prices were:
August
September
October.
November
*
"SUNDA" due 10th Aug, "BALSETTE” due 24th Aug.
loads 11th Sept. "SUNDA"
from U.K.
Aden,
for Singapore, P. #wet- tentiain, Peng, Adao, P. Gad, Horzze, London, Hamburg, Rotterdam & Antwerp
from UK.
from U.K.
for Singapore, P. Swat- tenhamn. Ader, P. Bax, Hava London. Hams
Rotterdam bunt. Antworp
from UK.
BRITISH INDIA S.N. CO., LTD.
1850 - A HUNDRED YEARS OF SERVICE — 1958
from Jepan "BANGOLA” duo 19th Aug,
salia 111 Aug. Lor Singapore, Panen
Rangoon à Oilcutta
"ORMAHA”
dule 14th Aug. salis 10th Aug.
&
from Japan & Shanghai for Singapore, Penang. Rangoon, Calcutta, **** Chittagong
P. & 0./B. I. JOINT SERVICE "ITRIA"
“UMARIA"
4.31
4.30
4.30
4.30
December
4.20
March
429
"IKAUNA"
Prices in dollars and cents per lb. all bid-United Press.
NEW YORK METAL FUTURES
New York, Aug, 0. Prices of metal futures closed Lodiny in cents per lb. as follows: | Lond" - Aud
American Stock |TM
Exchange Loss
+
to
*** Sept.
Aut.
Dept
Zino
Atig.
Dept
Copper Aug.
Bept.
United
16.280
*15,200 7.730
Exchange Rates
New York, Aug, 0. Olle had losses: konging more than 3 pointa in lower and moderate y dealings on the American Stock Exźbango today,
Tuhan wan dərinin "the loco Bilgent Interest centred in the
**WIUS DOMICKE8 Eastern normally exchange market.
SHOIRIDE" AV Ahe, following rstením. operations Brius Petroleum by outper 10942-hourly 2, polnie con more fisteriin, neela (pedan than, 9,000 shares dretsed. Bettis pAustenian Toled American Oil lost pondly, dhouse (Indonesian rupiah
Blant:tions (per:100)
United Prom,
thli
"URLANA"
in Port
Bulls Bib Aug.
due
from Karachi & Bomber for Japans
8th Aug.
From Karachi sails 10th Aug.... for JapNO
due 11th Aug. - mile. 13th JUNE:
due 24th Au BAILA 2013 AUR.
from Japan
for Baseapore, Bomber, Karmoki
Barrel. Khorramshahr die Kuwati
From Karachi & Bombay for Japan.
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NANKIN". In Feri
Grils Oil Aug.
trom Japan - for: Bandaian, Botabene, Bydowy Auckland. Adelaide de Melbourne "ARAFURA" duc 6th Sept, from Austrails
All, vessels haws liberty to call, as shy, portal: wm, er’elf the route à, the route &: mailing ára subject' thangs or sisendment with or without notion,
For full particulacs apply tu, MACKINNON. MACKENZIL & GA
OF HONG KONG 110. Toluphone lio: 2772A A
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