1956-09-13 — Page 9

TRADE

THE CHINA MAIL, THURSDAY, SEPTEMBER 13, 1956.

and

COMMERCE

Short-Term European Steel Pool Weakening

Loans For

Farm Goods London Stocks

Buyers

Washington, Sept. 12. The United Stator Export-Import Bank

An.

bounces it in willing to make short-term loans to foreign buyers who want to import United States surplus farm products.

The Bank said it would make such logs for six months to one

year or

cumstances

of lenger

E

1

ruiturity when warranted by perint el

" Situations

IN which equa e credit available from The usual em- mercial sources "

for

Move Narrowly

London, Sept. 12. Stocks moved narrowly and finally closed on generally steady note quiet trading on the Lon- don Exchange today.

in

In Some Sectors.

DEVELOPMENTS IN

WEST GERMANY

PLAY BIG PART

Luxemburg, Sept. 12.

WORLD RUBBER MARKETS

Singapore, Sept. 12. There was some aelling

or overSCAN advices this morning but offerings were wall absorbed by trade and the market improved after receipt of Intest

Some sectors of the European Coal Suez developments. and Steel Pool's steel market have been

Traders tended to stay on the showing sporadic signs of weakening for

sidelines awalling new develop ments in the Suez crisis, although mindest buying brought strength

in a low velletas 15

Financial en huice would be available

exports United Slates commodities,

Industrials opened on the easy cheese, maize. namely, barley,

then pushed ahead frac cotton. dry rottle beans, gran side

5qkhc• 171 Berghuins. In-fat

milk tally sir y

Electric

Musical industries solidis. CME TICE, TURIN, rve.

Borax Con- tabacco, tanpenline, Vegetable was a firm pol

stainted and Bowater had all

oils at whent, the lank satıl

MODIFIED

This might be

from me lo me

ofter

sultaten with that

ינון

CHES WIT

some time, despite the maintenance of a big and real overall demand.

Developments

dealings, CHICAGO GRAIN this situation.

mrat and ele ed cai

MARKET

The factory small. Futures:

No. 1 rubber per in

HIPL.

Qut

Nov. **

Interest

No rubber per lb Sept. No 3 rubber për th.

was

011 unqueled

Bi-Di

Hept

No. 4 rubber per lb. Sept

01-01

73-15

news

110-118

that

Spot rubber unbated in Wem Ger

| many have played a big part th

German iron merchants were heavy stockpilers varlier in the year in anticipation or 132- eree in steel prices.

The West German Economics notified

Minister Chicage, Sept. 12.

succeeded in avoiding Gran en the downside after profit-tilang.

futures were mostly such an increase, however, and Commality, his the group late in the day. lower at the close of an active the subsequent heavy cost

the mer. Credit prestation at the De Burnahı atıd Isritimis Pets oleum. son on the thord of Tradebank credits forced

chants to unloud large parts of Agricultuan.

were weak spots, but Canadian; textay. parent 31

their stocks on to the Pool's Eagle went the other way

steel market. This led at times Bank oferal aid the credit

[ twu rare would supplement British Government programTK

showed

to the paradox

world markots--| products lenses, reflerin Department fractional Agurulliste

navai plates-being thick end In sterling and Dri medit programme covering sales, weakruss

offered by Germany ON the Aint teat stu pluses This fate's disappointing August

Belginn

reduced progimine extends

verseas trade belange

prires

Bank J

the

of

American

abroad, but

zelit

exporters for sales

Bever

Gold shares posted gaKETIN considered 1+ successful in selective buying, but moving any large quantiles af, wazeri. farm products

Special

On

coppers 11 rumblings of cou- Chan Mand labour troule In

Rhodesis -United Press

Wall Street Stocks

Fail To Recover

New York, Sept. 12.

Stocks made a stab at recovery today but it was cut short by the worsening in the Suez Canal outlook.

1

Corn led price declines after the Government vrap estimate yield yesterday put this year's at higher volume than expected, The drop mensated one to two pole at busted lower

Wheat and nato followed them downward Tread in vorn, while | bye and soybeans. Juki their mwn or closer lightly lower.

Wheat loserl

HT 24 10 134 certe soybean off to up th

Future:

*2414

on

murket

Shortlived

However,

fligh competent Authority sources Thank this phenomenon likely to be short- lived. They point out that new orders, alsó sporadic bug massive in size have to a certain tent cushioned the shock which the Pool's steel market had the Soviet

(x-

had placect Important

The United States had also increased their orders in Euro-

pean plants, notably in Belgium and Luxembourg.

Wheat, No. 2, Tri

22411

Sep. 223 2241.

expertenced. and

[

2237-

Union

Mar

231

orders.

Alav

2301

Ja

22422-

Carn, No. 2, yellow

Sp

180

Heps: Dec

14717

137

As far as thin

Ma

1413-

!concerneri,

High

Mai

145

, sources

that

sheets are Authority production

Jun

1472

in-

Rye

Hi!

Ret

Burroughs. Add Machine

many Paesite #

Irr

Onts

Cum 1 11 Co

Sevke!

Cut. Tructor

87

Dec

16

per

Inition dollars

There were a tew outelanding; ; fenden The Cu strong featuring and fow Bim groupe, paced by the steers, but

weakness in the oils and metals

overshadow.r formers

The markr! around

the better

C'elistrene Corp

el Pinnawet Cury Chase Manhant Bank 1.Chrysler Muton

121x Molybdenum

Colgate-Palmolive Co Usted values in its niin declar | Conmeroul Credi!

Industrials dropped Commonwealth Elec

in a row,

Consolidate Edusn

2.19 en verbge back to enCuntmental Oll of Del August level

0,40, were July 2

Bail

slippet | Crane Co

Invest sities Crown Zetterbeen

Or a total 1.153 issues trade, 041 were

Guly higher.

There Hill was no real pres- sure against the list. However,

Diamond Alkoli

Dow Chemicals

21 Soybeans, No. 2, yellow

145

149'

717

1874-1

22:34+2 2331 20334-234 237.1

240

243-1

GRAIN PRICES

capacity

have beent may

creased too rapidly and that the Pool may have "over-equipped" itself for this product.

Very Rare

Competition from plastic 100f-

materials ing

had affected galvanised plates, whose market is clearly weak at present, but | thesi

add that one should not jump at conclusions in this matter 100.

sources

Heavy shapes, merchant steels, thick plates and naval plates are still very rare on the market,

The plants in the Pool In

Hinakot repr No. 1 pale crepe

Late yesterday Chloa was buying only thise thousand tons of Malayan rub- ber, immediately sent the murket down.

market.

SECTION

CA Dollars

For Pakistan

Washington, Sept. 12. The International Co- operation Administration announced today that it bas

silocated $3,059,000 to Pakistan for the pur- chase of chemicals, In- dustrini machinery and olled machines in Germany, Omolats Reutil the material

bo Aro delivered by February 28, 1957 and will be paid for

deutschmarka, The

International Co-operation Adrainistration handien United Stales foreign aid. -United Prob.

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

Cotton Futures Turn Irregular

New York, Sept. 12.

Cotton futures today turned irregular after a post-opening rally lifted new crop deliveries almost $1 a balc.

Closing prices ruled 8 lowar to 14 points higher. The market

opened off si to up & points New York Sugar

New Orleans closed op 3 to 11 pointa,

Market

October quidation and spot house selling in December, up- set the nearby while inter de- liveries me! realising after closed today Monday's sharp upswing.

December selling was associccetracts.

points higher with

aled

with mill quidation of long hedges, possibly

against

New York, Sept. 12. The world No. 4 sugar fututa {5 2 unchanged

sales of 47

The dicanestie

contract eloved

the nequisition of spot entton. unchanged N 1 paint higher

Brokers who have been with Sales of 21 contraels. peralstent sellers of September | Future lately were credited with pul

Contract No. 4 (world) another 10,000 baits

at

Ort Mot May

the ring today.

Earlier, the market reflected | July Bril the producer holding movement,

Spot-cerats per i fos Cutia with expectations the in-

Contrac: No, d creasing rate of toon entries will Nov tighten the "free" supply later Mar In the season, Shrinking

Juts

current crop pros- Benl

Business dons on the Hong-pects, with some estimates that Nov

OK-uts

3,50

3.34 3.24

5.40

6.40

0.01

5.54

5.34

3.54

United Pres.

kong Stock Exchange this possibly 5,000,000 acrrs n be Spot-jeente per in, NY meaning mimounted to

out of production next ap-ken proximately $500,000,

the Noon year and put

soll bank quotation und the morning's reserve also was influential.

The New York tranmetiona:

Cotton change

Bhares

11K Bank Bert Asta

INSURANCEN Union siPPING Wheelock

DOCKS, ET K Wharl Воен Provide it

Service Bureau

Ex-

Today

cstimated domestic consumption

of all raw cotton in August at

Exchange Rates

noticia!

Business was done in the local

sachange market marang at the following rates-

compared

with

U.S. dollar sper sty

Daily

Sterling notes (per 41)

Inst year.

Buyers Sellers

Sales

H! *

334 246

183 740,000

717,000 balen

bales

1000

37.1

073 317 1000

B (W)

1000

8 75

In July and

August last year.

Since the departure of the Join! trade mitalon from Singa- the Federation of pore Malayn for Peking more than a ago, the Singapore fortnight rubber market has been con- inuously supported by rumours. that Chica was coming in buy heavily from the Malayan BANKS

Rubber men placed 20 to 30 thousand tons as "conservative estimate" of China's immediate needs. They were dumbfounded when a Peking dispatch 511- nomeet that China had only contracted to buy 3.000 109s.

The disappointment was måde.

Severo because of the more high sounded notes of optimism

that and propaganda

pree:ded LAND, ET

of K fotel and accompanied the entry

HK Land the joint misalons into China.

One rubber source said that Humphreys, before the UN ban on sale i strategie materials to China her of Malayan rubber purchases amounted to nearly 10,000 tons In 1982 China paid в month. about 1 dollar and eighty cents

100 Yesterday Malayan per pound

C. Light (0) 24.20 24.40 2000 pound. Light (NI she paid 92% cents per

211 21,80 Electric for the 9,000 tons contracted.

Some sections of the market described the purchase as Telephone CIT token shipment" "rample offered 10 the Joint trade missions in Peking to help them save "face."

NEW YORK

The No. 1 Rss future contract

35 to 45 today closed higher with sales of 22 contracts.

Closing prices:

Sept... Des.

Australian notes, sper

rate of use last month averaged Indonesian rupiah (per 1001

7.000 bales against 37,500 biles Siam tent (per 100) ..

si Singapore (šventė

35,200 bales

Open October interest today totalled 181,200 bafes. The cer- ileated stock remained at 4,014

[2 4014

M

bakes,

13, 130

900

13 70

Month

Volume Opers interest

300

1300

Oct

12,000

iB) 200

Dec

25 DOO

500 500

Mati

12,700

377,300

15 10 1 30

1000

15.21

60

07'

100

Mas

28.300

224 209

07

July

400

07

27,100

115,500

Oct

14,000

52.000

Dec

4,000

37,200

1 40

1 48

. Total

140

130 8000 475

Tra XD

13.30 231

1300423.40

ng follows:

Star Ferry Yaumall

133 137

Burst

107

104 107

October

150

107 24.30

December

1000 v₫ 21.00

Really

RUBBER Amalg UTILITIES

123,709 1,507,800 balcy

NEW YORK

Pries of futures closed today

March

May

30.75 July

30.75 October

100 31

1400 2400 1000 24.50

December

NEW ORLEANS

34,25A

32.00

NAMESAKES

this

0.14

15.86

12.05

18.70

21.50

1.83

Answers Bowls, 2 Spain, 3 Admiral, Fleet, Broadside, ( Galleon, 7 Pennant, & Cannon, 9 Hind, 10 Ensign, 11 Armada, 12 Sailor, 13 Voyage, 14 Keel, 15 Elizabeth.

Sir Francis Drake.

Fly PAN AMERICAN

Prices of futures closed today world's most

December

LIVERPOOL.

28888888

Future closings, in pence per

lb. were as fellows;

101

Telephone

(N1

24 40 24.00

as follows:

INDUSTRIALS Cement flope STORES, ETC Dairy

23 40 23.70 2000 or 33.00 500 4 23.60

361 37 100 30' 12.80 13.20

15:

Spot

October

December

March

May

July

13:30 2000 N 30 80

October

points

600

15.70

1000

15.60

1000

15 30

Watson

12 30 12 70

COTTONS

Texule

Old tract

cmp.

4.40

Oct/Nov.

7

1000 in 7:30

Dee./J012.

Mar/Apr.

May/June

July/Aug.

New contract

Oct/Nov

Dec/Job.

May/June

July/Aug,

Egyptian Karnak

Nov/Dec.

32.40 32,15

The rex contract closed 25 to

45 points higher with sales of 103 contracts.

Sept.

Nov

| general have weli furnished order book which will keep them fully occupied until the end of the year.

JONER.

Mor.

Mor

July

Sept

DA

Winnipeg. Sept 12 Precs of grain futures chased

conte per bushel

Ampl

NAN

Jan

34

Mku

40*

Mire

123

Barley

Hout

130-140

0.58 February

10 their

16 and utilities, T

Luban Anver Sugar

101.

New York flour

2001 mex

#13 200

of Their lows sister

741

United Preve

Dupont de Nemours

204

Bainan Kodak

WINNIPEG

El Paso National Gas

95%%%

208

Erie Ramad

201

Family FiBaner Corp.

2216

Ford Motor

591

General Electne

today In

General Fin

47

follows

4712

(018

30

Oct

30%

Der

T4Tb

May

Rye

Heyden Chemtent

14%

የካቲ

Erratic

Honistako Minang

Ingersoll-Rand

Dec.

May

Inland Steel Ca

int Business Bincikhes

Rarity

Orl

comment in-

s' Harvester

Dec

International Nickel

International Paper Int'l Tel & Tel

123

May

123

Flaxreed

Oct

41%

Det

139

May

072%

as evidenced by volume which totalled only 1,930,000 shares,

General Motors ..

Gen. Pub. L. Caden Co

compared with 1,020,000 yester-Goodrich (B. F1 C»

day.

Wall Street dicated the Suez crisis and other

international news. while

10

dampen

buying sumcient enthusiasm and prompt seme profit-taking, was not enough to touch off my heavy liquidation. More

Goodyear Tire

John-Menville Co Kansas C. Power & Light Kennecost Copper Liggett Meyon Tub, Co. Lockheed Aircrati

mark"alysis anticipate erratle Loews Incorp

election.

tcast. until al

after

International oil shares were

Lone Star Cement Co Louisville & Nashville R Lowenstein & S.

Messi Iron Corp.

Minniceria Midg

hardest hit with losses ranging Mission Development

to

Royal

3 points in Gull, 1 In

Monsanto Chemical Co. Dulch

Union of Call-Montgomery Ward xd

Motorola Ino. fornia, Amerudo, Jersey Stand-

National Cah leg. "A"

ard and Standard of California Nation Dairy Prod.

point to more than Natioemt Lead

Joi

points.

Metals also hati some wide Josses-a point or 1-1/3 points National in Alcon, Magma, Land, International Nickel.

National Steel Corp.

New York Central Olin Mathieson Otis Elevators Owen-inda Glowe

Pacific Gas & Elec. Pan American Airways Paramount Pictures Parko Davis Co Permy J, C. Ca Salt Co. Procter & Gamble Co. Pittsburgh Plate Gines averages Publicker Industriew Puro Oli Radin Corporation

Motors wero narrowly mixed. New York Stock Exchange band volume was $4,300,000.

American Stock Exchange volume was 980,000 shares,

Dow-Jones closing

wert:

30 industrials

20 rails.

15 uutis

00 stocks

40 bond

Comm. future price index

Comm, pot price index Moody's index

Closing Prices

Aldon Inc. Aey.

Allied Chemicals Allled Mijla iné. Alla Chalmora

Amerlen Atrilha

American Cable & Radio Ce American Cyanemide Co. Amer, & Foren. Powor Am Mach, & furg. American, Maik), American smelting American Tej & Tot American Tok. "B" Anaconda Copper Armoo Bisek Annour.

Dallimore-é Oble. DNES Aviation Corp. Benguet Cune Bethlehematest"

· Hoeing. Airplate

Pip Morris

499.07 Republic Steal

187 10 Keynolds Metal

| 80

68 02 Shell Olt. Co...

170.08 Saint Re

Рарет

02.00 Sinclair 01 .......... 180.73 Bocony Mobile

164 04 South Puerto Rico Bukar

425.70 Southern National Gas

Southern Railway (Com.) Standard Brands

Standard Oit of Cal.

Blandard Oil of Ind.

Blamlard Oil of N.J.

10 Stoop Rock

Sterling Drug Co.

Blakely-Van Camp,

Studebaker-Packed Corp.

świfi & Co.

・014 Texas Co:

70%

Tide Water Ama, Oil,

14 Twenty Century Fox #tim

Union Carbido-

19 Union Pacifle Türilwa 011-United Aircraft.

SEKSAKEMLano-Co.

Rubber

PELI UTEX smelting

A61) Westinghouse, Electric

"West Vay Pup & Pašer

Woolworth

-United

יד

whent

32.16

32.25

31.00

31.00

31.00

10.43

On the other hand, the slight The standard contract closed Legression which took place in 35 to 45 points higher with sales West Germany failed to have of 30 contracts.

any repercussion in France, Maly

#

784

ΤΗΤΑ

or

1393. and

1350

107

100+

1031

318

prices

204 2001 Wer

Canadian unchanged.--United Prési

Singapore

Stock Market

In the

ΟΙ Grand Duchy Luxembourg. It was the Dutch, to a certain extent, the Belgian market, which was 0 downward trend.

Total Orders

Exports to countries

outside

the Pool are said to remain at satisfactory levels, although cer-

| tatn products such as thin sheets

and strips, are tight,

Merchant steels, heavy shapes, naval Joists, and especially plates, thick plates

even medium plates,

and are in demand

by

the

your

on the export market.

Total orders registered plants in the Pool during frat six months of this averaged 3.8 million tons month- thely against 3.3 millions in the

Brst six months of last

Looking to the future, Opening

servers here point out that the European steel industry breathing space and that it could benefit from

Singapore, Sept. 13. Trokers today quoted! following stock prices;

Batu Lintang Rubber Co.

Latu.

7% British Borrico Petroleum

Syndicate

Consolidated

Ord

Fraser & Neave Ltd. Ord...

45% Fraser & Neave 76%

year.

4.

needs

Sept

Dec

Mar.

May

July

Sept.

In

31.24

30.23

29.73

28.75 Uncertainties

the Sucz situation and strength at Lon- don shaped the trend on the London terminal market. brokers were accredited buyers of Jan, and March contracts on abritzage operations. The foreign the demand were brought to markets to a practical parity.

Nanyan

INVESTMENTS

Yangize

★ ብዙ 4.00

STOCKPILE

BARTER

DEALS

Маг./Арг

2430

24.03

SERE SAEZA

24.03

24.10

50,00

SAO PAULO Future closings, in cruzeiros

per kilo were as follows:

Oct.

.unquoted

Dec

20,00

Mar and May

unquoted

July

37.60

In the US the

average spot cerris.

15alc

priez was 13.03

Washington, Sept. 12. The US Department of letailed 37,274 bales.

of bearish

repert.

In rupees

77/0

10/1

70/0

Agriculture has released

KARACHI The market stendied after an the first public informa- tion on

carly dip because barter deals for

American bure:u strategic materials for the Prices closed today supplemental stockpile, re-er mound as follows:

47 Bind roller gin Shipment offerings were re- porting that in July its

280F 8ind roller gin ported on the light side but

for local still ceptance. Reports small included some December

too high

ac-

transactions amounted sales $15.3 million.

four

to

2007 Punjab roller gin

This total for July, the fest sheets at 30% cents a pound, month of the fecal year of 1957, delivered bass,

LONDON

The market was uncertain with spot quoted at 29 penge per lb. Prices:

No. 1 Ta spot

Bettlement house term: October

a little slowing i det/Dec.

Lack Coke

November

December

Jan/Mar.

Apt/Jun

July/Sept.

"We look coko, we also lack November Iron acrop and, pig iron,"

compares with $26,300,000 In July 1955 and with $104,000,000 for the entire fiscal year 1956.

Under the Department's barter Commodity Credit programme,

owned farm com- сте offered iTL 20tion

change for minimum long-term and supplemental-type strategie 25) materiais, which are stockplied

for national

and for defence,

for non-strategic materials

Government transfer to other

20-205%

28-28

Tin Smelters

$7/00

27/0d

$2.0T

down of the present tempo.

Cum.

pref.

Hongkong

Shanghai

64

Banking Corp.

$3,00

$168

4316

Hongkong Tin Ltd.

6/30

416

Kempas "Lid,

$1,80

04/

701%

Lunes Rubber Estates Lid, 0.80

Malayan Breweries

512

New Serandah Rubber Co.

297

Ltd.

61

Petaling Tin

Rafting Hotel

$1.67 $372 1243

is a Estate crepe frequent complaint here. We unquoted. want to replace' scrap by pig iron, and we must replace coke by scrap,"

thin and

thick

AMSTERDAM

The market was steady. Prices

Co Lid.

234 Singapore Cold Storage .... $1.47

381

Sol Brist

319% | Straits Trading

591

Steamship

General markets, cit basis, ports: agencies.

Of September

the supplemental type October

strategic

materials controoted July 1066, $9,900,000 re- presented beryllium copper master alloys, $3,400,000

or, $1,200,000 mica and $800,000 cadmiumk

The $104,900,000 contract, total

ALAYA

mari-

2.00 burers $40,100,000 for ferro-manganese,

If the present pace is not closed today in guilds per for the fiscal year 1950 included slowed down, some "short cir-kilogram, elf Sept. as follows: cuita" pro deardd, In chứa 1 No. 1 rubber $140 spect, it is argued,

Insurance

$33.50 124.80

United Engineers Ord.

$8.50

1431 || Weard Bros saveze | $3.00

• cum div.---Ching. Mail Special.

NEW YORK METAL

FUTURES

No. 1, crepe

the slight No. 2 rubber slackening on the German steel. No. 3 rubber

cott- market could hardly be sidered as a calamity, China Mall Special:

CHICAGO LARD FUTURES

Chica Sept. Prices of fard fluros 19.106 | Loday in cents por itɔna

'Now" York, Sopt, 12, Prices of motál futures closed today in cents per ib. as followsi Lead

tuzio Copper Bept.

Oct.

OFL

0.100

for

2.61

$20,200,000 for industrial dia-

and $11,800,000 mands 45

Auorspar-China Mail Special. “United ProES.

New York Foreign Exchange

New York, Sept. 12.

London Foreign

Exchange

'London, Beal, 12. Closing rates were 10247/32-1.0240/16 ...} New York -3.02-0/23-14 asin Montreal

#W101-23/2341.01-13/14. stockholm

unchanged.

£2/1

saw gin

saw gin

-United Prose,

80/1

experienced airline

to

EUROPE

and the

USA

For reservations,

call your travel agent or Alexandra House, Phone 37031, Hong Kong

Peninsula Hote!, Phone 64005, Kowloon

Pan American Paid Airways, Ina, Loverpontiat

in State of New Tak, UISLA (WUkEmtinė klubitay

PAN AMERICAN

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V

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