1956-12-19 — Page 9

THE · CHINA - MAIL,

WEDNESDAY, DECEMBER 19, 1956.

COMMERCE

TRADE and

SECTION

Continental Demand For UK HONGKONG

Gold

SOVIET BELIEVED

HOLDING FOR BETTER PRICE

By SIDNEY CAMPELL

London, Dec. 18. There has lately been some Continental demand for London gold coming from or through Switzerland. It has steadied the dollar equivalent to rather over 34.88.

The Swing demand is modest but clearly signifies that the present Russian offers of gold in Switzerland are not big enough to fill the whole marker They appear to be sizable bug her mit being pressed, and the Russian seliers are holding for wamething beiter Than the presenc Posters price

ugkomst

while on the other hand not all of the Russian gold has gone anto The Swiss National Bank. There is nothing unusual

transferabilc Nieri. itussio Sur ing Nearly all her gold rules in * s have been for that

Dollars mantency

tires

LOAN FOR INDIA EVENING UP ON

Washington, Dec. 15. The World Bank bad deckled to make $20,000,- 000 loan to the Indian Iran And Steel Company, rell- able

slated here tonight

JOEL PODE

to

The town is intended to enable the company carry out a bis expansion these sources programme,

kak-France-Presse,

WORLD RUBBER MARKETS

New York, D°e. [8. The No. 1 1 rubber Futures contruct tixday closed unchanged with sales of two contracts. Dember

3040

The x construct elmed 30 to aff podrals perway with salts of 114 contracts

190

Ja, ar Maryl May

1 low to her, except as a means nt buying European currencies discount. Transferable and most

string

first

These resumexi Rus sales of goki in Switzerland transferabile mering the such wales for sevmal entros

m:ticed first were November 26 In the thist haft of that week they were guessed

201 at about £1

worth They contritared to #EAR-A in transferabile

sterling

A1

ime when other types of alert- ing and marketa generally were

01 under severe prÖSSUER

Continuing

cheaper

Hurm's present gold males are much smaller than those which about aristenly Martedi at jubel

yeur 953 this time of the For the Brat Farme

in several voare Russia then appeared an a supplier of guld, and sold nearly

£30 million worth.

+22 ww occasion to, much of it

transferable sterling.

เร

At the sterling was obtained more drectly and some of the gold came

the Bunk st #1 Poland

pay for Russ

Kohi

obviate the need for the British authorities do support 11} TÈN came into last menailt

11

Some of the bott

ferable sterling (Swas purchase of it

End-Year Bills

The purpose of the 1953 sales was to raise money for Moscow billa to pay pressing end-year for the big importe of consumer the Malenkov

extends into this month a Russian offers of gold are cons

Rodds following and have been noticed tinuing again recently.

be

Their total to date may roughly £4 to £7 million, with some more still offered though not pressed. The recent jump of 63 million Swiss Francs (rather over £5 million) in the Swiss National Bank's gold stock only a rough guide since. the other hand, part of that gold came from other central banks, the Husain offers, now from

Is

On

EXCHANGE CONTROLS RELAXED

Frankfurt, Dec. 18.

Co

The Bank Deutscher Laender has further re- laxed West German trols on foreign exchange holdings acquired outside current foreign trade. Holdings affected are pri- those originating marily

gifts from inheritances, and property abroad.

The new regulations provide that accounts abroad, foreign Becurills, interests in foreign enterprises, real estate and un- coined gold must be declared. Other fortign exchange holdings acquired outside regular busi. ness transactions such as foreign claims coins and notes and

пред nu against foreigners longer be declared, however.

Foreign exchange holdings valued at less than 1,000 Marks need not be declared at all.

that The previous regulation foreign exchange acquired by individuals or companies in West Germany had to be offered to the Central Bank for exchange into Deutsche Marks has bežn Jified China Mall Special.

NY Coffee Futures

New York, Dec, 18. Santos "B" coffee futures 10- day closed 10 points lower to 10 points higher with sales of 117 contracts.

The "M" contract closed one to 60 points lower with sales of Su contracts.

Spot Santos 4s moved up 1/5 cent to 04 cents. Santos " closed in cenis per

follows:

J

Doc.

Mar.

May

July

Dec.

TU. 8

06.59

68.32

08.03

C4 10n United Press.

Exchange Rates

Budrions (we done in the local [ufsoffotal exchange. market thi morning at the following ratovim (U9) dollar - (per-43) zuzreiRAYAN is sterling, notes (per 41) jer, 1813 – Austen lány (moles, (per 2S). Sreenimised papielt) (pse 100)

15

19.00

policy and the East Berlin rials, The current series of sales cun only be more vaguely connected developments in with recent Poland and Hungary and with and hardships shortagea the

many which are reported from parts of the Communist world.

Moscow's credit to Poland, for example, is designed to pay for from Russia. Phish purchaLFRON

Communist countries Limes

di gotne

14 is not in sterling, though the

se sterling for their settlements with one another.

In general, the East European the from countries need and

Central Soviet economic system instead of being able

to com-

i tribute to that system. It is not

surprising that Moscow

ورود

September November Janunty

WALL STREET

New York, Dec. 18.

STOCK EXCHANGE

(From Our Correspondent)'

Business done on the Hang-

kong

Stock Exchange

this

moming amounted to apprend-

38 mately $372,000. Noon quota-

Wide irregularity marked stock trading the approaching four-day weekend holiday began to make itself felt.

Repeated attempts at rallying. reflouting the heavy backlog of favourable market news, failed

through

immlers GOTTY turned to realising and evening- up operations.

to

д

The close was higher-by 24 point in the general average--as a few strong special issues and But groupe bolstered the Ital

were far below the day's prices best. particularly in rats where virtually at early gains were pared, leaving that group up

23 point in its average.

Improvement, sparked

ave,

rellect

announcement that it may have lo refund more than $2 of profits if n regional board's findings renegotiation are cubstantiated in Washington,

Of the total 1,208 appearing on the Lape, $10 were lower, 422 higher, 270 unchanged with 22 al new highs, 58 at new lows.

Turnover dipped to 2,370,000 shores.

Closing averages เ Street today us follows:

in the session by higher 20 rails

carriers, the granted

out profit-taking

30.76-73

30.80

early rotes brought closing guiŋks.

38.40

35 DO

35.50

33.05

M4.45

Standard contract closed un- clunged to 40 points Ingwer with 14 sus pred

teen

Match

MIA July

New either

Biggest

36 40

30.00

3040

35-69

3505

34.85

amounted

to Vau point in es auch

tons and the morning's trans-

actions:

Khares BANKS

UK Bank

(01 IN ПОСКА, ЕТС K. Whart Dock Provident

Page 9:

LONDON STOCK EXCHANGE SHARES BACK

London, Dec. 18.

A lack of either good or bad news caused a general backing of prices on the London Stock Exchange today.

Traders left most of the blue chips alone and marked down a few of the nuclear and

sharea. Oll shares were irregu- Jor,

sted CHICAGO GRAIN

Buyers Sellers

Enst Asia

1345 244

Anica

20 e 1590

+

SHIPPING

Wheelockn

103

70 1000 1.03 100 40,00

shillings.

Reynolds

C. A. Parsons in the nuclear scetion yielded more than 1 *k

Was

about 3 shillings.

10

475

48 2000g 471%

100 3.00

duction sei n

In November.

Oils Up

LAND, ETC HTC Hotel BK Land Humplireys

Realty RUBÚRI

Wall Amalg

12

UTILITIES

- 1321

21.20 231

140

102 104

MARKET

Chicago, Dec. 18. Grain futures were ir

The sicel shares declined even | regular on the Board of 37461390 though total iron and steel pro-Trade today, with whoat

new all-time bigir

staging a rally near the end that brought prices up abova yesterday's close,

Early declines in wheat were Royal Dutch gained 5 full-caused by an increased produuc- ton estimate released Inte yes- terday.

1+ 70

เค

MI

192

1443

1:33 JA800 »4 1 52),

Trust Suneala

1771% 1.81

心

090 124.

sarial.

490 00

Tranı

1500 @ 2.30

134.

Star Ferry

15 etilen

67.39

53 stocks

173.00

C. Light 101

23 40 23:30

and

40 Don

Elect

J1 75

17

2000 ... 23 40 2000. 22

ings in the oils. Burman was

smaller amount. UT At

Anglo- Egyptium

lost "[]"

about a sbilling, while the other, were

wore

idle.

only

Comm. hatute prie index Comm, pot pitve index

102,00

Macro E

20

160.14

Telephone

Mouse

+40 00

IDF

24

IND

2314

INDUSTRIALS

Cement

Rope

375 38 12.00 13.50

STOHES, ETC.

$ 16

Dal v

12

Wales

15.30 13.30

13.20

2 15.20

* 15 30

Singers:

COTTONS

168%

Nanyang Xu

7

KW 730

INVESTMENTS

7312

La or up knall amounts Chinese and Czech Rections.

Dollar

Blocks reflected firm ness in Wall Street United Press

1213

8.30

500 9.40

as Baltimore & Ohio, New York Central,

Pennsylvania among

OLHETS.

Mainstay

Steels continued the mainstay

of industrial strength but even

here there were SOIK sharp Josses Lakens.

她 six-point

gainer on Monday, ran up m other 9, In 5107,

Bart of the termblul market

endred in beton enpost arben switching opera- Cements continueit in demand Hots, and exchanges of March

in the wake of price increases, Covering Gains ranged close to 3 points in for physical rubber

if the December General Portlan Oils und operations No 1. but

the the Text of

motors were inu dog the most Jower mürker was

in company

part, Letion's decline and re. with drting the continued pause in

factory domestic

buying in- Spot No Terest

1 Rss quoted nominally at 38 cerit

prand

Wi

In the stupment market, offered Indo-Chinu reportedly Jutitary one sheets at 30 cents

Ideas 14 with buyers pound

offered Thailand under. cent "fair" quantities of three sheets al

34 35 cents, fours at cents and fives at 33 cents pound, e and f

SINGAPORE

of

The market opened below last night's level on disappointing overseus advices and it" sagged further

Tack

interest. neglected were grades Lower and with only spasmodic buying.

Future closings were:

320-231 100-100 100-100 1055-700*+

No

i riber pet fis.

J Feli

No 2 rubber per ih Jan, No 3 rubber per i Jan

112-193

14-135

13-2 133-133

No rubber per 11 Jan. Spot her unbek

El

reto

No

U pale crepe

TC-

LONDON

strain by some

lieving this marginal additional marghal sales

Trifling

of gold.

with was "asy The market sput_quoted at 31% pence per 18 Prices:

No Rxpot ...... Settlement house term·

Feb

Mar

Apr June

July/Sept

Oct/Der

Feli

Flute repe thin

11ick

السلام

344-3214

In pureradta Lockheed gained a point while Douglas fell nearly

Syria After Hard Currency

London, Dec. 18. The

Board of Trade understands that payment in respect of imports into Britain from Syria will only be accepted in sterling by the Syrian Exchange Control if the contracts concluded before were November 4. For later con-

authori tracts the Syrian

ties require payment to be made in United States 315-32% dollars or Swiss or Belgian 314-30

francs.

31!4-31. 3044-31 304%-30%

31-32

or

As regards these currencies, General markets, vil basis, however, importers should note the that the permission unquated United Kingdom Exchange Con- United Frem. trol is required before payment

be rando and they warned that permission is un- likely to be given.

The sales are trißing in com- parison with the unconfirmable German and guess by some American experts that Moscow has a gold stock worth $7,000 million and an annual output of $420 million,

1 Moscow really has any such gold resources, the wonder

allowed the hardships to than it reach explosion point in Poland and Hungary, when it could zo by colleved them easily bave

Washington, Dec. 18. The Federal Reserve Board's spending a tiny fraction of the on massive alleged gold stock

goods Index of industrial production is Imports of consumer

147,-United Press. China Mall Special.

is

US INDUSTRIAL INDEX 147

New York Cotton Futures Slow

New York, Dec. 18.

Minor price changes accompanied

trade in cotton futures today.

A

can

arc

from Syria are All exports subject to export licensing cơn- being trol, but licences granted without difficulty.

are

Allied

Closing Prices

Chemicals

All Chimera

Amer, Forge Power American Mulai American Smelling American Tel▲ Tel.

American Tob "B

Anaconda Copper

Arimo Steel

Annour

Makimore & Ohio Bethlehem Steel Canadian Puctile I Chrysler Motors ("lax Molybdenum

Cigate-Palmolive Co. Carimolidated Edison Crown Zellerbach Cuban Amer. Suger

Diamed Alkali Dupont de Neinatas Esetnian Kodak General Electric

General Foods

General Motors

Glidden Co..

doodyear Th

Heyden Chemical Ingersoll-Rand

Int'l Business Mactunes Ini Harvester

Internaugnet Nickel [-man Tă; & Tel.

Kennecott Copper Lockheed Aircraft

Loews Incorp.

Lone Star Cement Co Montgomery Ward National Cash Reg. "A" National Lead...

New York Central

Olin Mathieson

7.

Allied KK & E

Invert

Buying by commission and Increased

exporta for the rally, responsible The larger crop estimate alu caused selling in corn with only Suez Canal continued strong, limited buying interest reported. 500 gr 24.00 gaining to £53.

Traders said

many stoop-lona orders were uncovered.

Oats went lower in sympathy with corn, while soybeana de. eilned Carly on commission house seiling orders. The market rallied somewhat during later trade on higher prices in oil.

Wheat closed up to 1% reply; soybeans off 1% to 1% cents.

Singapore

Stock Market

Singapore, Dec. 19.

today quoted Brokers following stock prices:

13%) Batu Lintang Rubber Co. Lia. $1,77 97 Brille Bottico Petroleum

British Governments WDTA active, but closed mainly un- changed.

Foreign liens were either idle

NEW YORK METAL

PRICES

GRAIN PRICES Prices per bushel in cenis; Wheat, No. 2, red

24172

Ярог

Dec. 2383,(H) 23TİŞİLİ – 22812

New York, Dec 18. Prices of metal futures closed today in cents per lb, as follows:

Mar

May

July

Sept.

2904

Lead Dee

LA 40%

Corn, No. 2, yellow

Jan

10.2016

Spot

127-1371.

Tin

Dec

100.124 (standard)

Dec.

1314-26

the

Jon

100.12236

Mar.

1353

Zinc

Dec

110010

May

1571-130

Jan.

13.30b

July

1401%

Opening

Copper Dee.

12.188

Spl

1975

53.056

Rye

Tin

Jan.

10116 1 (Strat)

400

Syndicate Consolidated

49/0d

m

Smeltere

10414

Ord

30%

Fraser & Neave Ltd. Ord,

20/04 $7.28

Feb. b-bid, n--nomina).

Doc.

14036-1%

100.251

MAT

14615-3

-traded

Dats

United Press.

Dee

717-50

20346

Framer & Neuve 15%%

cum.

Mar

77

Ba

prof

$4.00

Soybeans, No. 2, yellow

LONDON METAL

Spol

24720

Jam

20075-1

Mar

249-241

May

2014

July

38014-15

Sept.

Barley

Spot

24094

130-145

New York flour

Buyers Sellers

200 1b

nock

705

797

United Pres

7971

油

271

3714

271

¡15

11521

Mar..

114%

Zine and half De

1021

103

Mar

03

971

United Prem.

1,00

Gaminens (Malaya) nited $1.98

Bangkong & Shunghat Banking

Corp.

Hongkong Tin Lid

17% Kempas Ltd...

34 401

Lunaw Rubber Entales Lici Malayan Breweries

499% | New Serandah Rubber Col

$3,34

PRICES

London, Dec, 18.

Prices of metals closed today

in sterling per long ton as föl- lows:

$340

12.20

(1.62

$2 07*

Os Elevators..

Pacific Gas & Elec

$2.301

Pan American Airways

10

Petaling Tin Ltd.

Paramount Pictures

28

| Kafflem Hotel

$2.35.

Parke Davie C

Singapore Cold Storage

31.53

Ti apot

Boul British

fremurance Co

3-month

140,

Lich.

Straits Truding

3-month.

0116

Steamship

33%

United Engineers Ord.

191

Heartie Brom.

37%

div; Curv

-China Mall Sperial.

Penn. Salt Ca

Radio Coporation Sinclair Of

Republic Steel

Socony Mobil Sleep Rock Toruntoexi Standard Brands

Standard Oll of Cal

Standard Oll of Ind

Standard Oil of NJ.

Studebaker-Packard Corp.

Swift & Co.

Texas Co.

Union Carbide

Union Pacific Railway

United Aircraft

11.9. Gypsum

U.9. Rubber

U.S. Smelling

US. Steel...

Warner Bros

Westinghouse ECT.. Woolworth

10

43%

--United Press.

New York Sugar Market

New York, Dec. 18. World No. 4 sugar futures closed today 1 to 6 There have been reports that points higher with sales of Syrian dock labour has refused to load British ships at Latta-966 contracts. kla, but exports from Syria to Lebanon and onward shipments continue without from Beirut difficulty.

IMPORTS DROP

The latest available statistics show British imports from Syria have dropped sharply this year compared with last year.

Total Imports so far this year slow were.

million about £1.8 against £4.9 million in 1956,

NEW YORK At the close the list ruled off 4 to 27 points net The market Prices of futures closed today opened unchanged to up 6 points. as follows: New Orleans closed 4 points lower.

Trickling amounts of liquida- tion, plus hedge-selling and New ; Orleans offerings kept a routine trade - demand over-supplied most of the time.

Spot

Dec.

Mar

May

July

Oct,

Dec.

May

34.Lan

23.02-03 13,80

271.90

32.94

NEW ORLEANS Interest centred mainly on Prices of futures closed today,

New nearby deliveries.

crop as follows:,

months were relatively neglected

traders

cautious

became extra- before the halldayti and reflecting uncertainties over government rotten polley next year...

Dec.

} May

SAO PAULO The slackering rate of loan Future closings, in cruzeiros entries suggested tothi 1936 3m- per iclo were as follows::

ungugled poundings, máy run below the March

May proportions originally expected. This raised a questions of how | Öokobe much "free" cotton may come on · Decembe | the market hereafter, in the form

or hedge-rolling=

Brico was

The cortiflented stock 'remonii" | totalled: 120 od at 2,954, balen.

·Press.

apat

The måla import item was cotton accounting for a total of £1 million so far this year,

British exports to Syria this year so far have totalled £0.9 million against £7,5 million for the whole of last year-China Mall Special.

Domestic No. 0 sugar futures closed 2 points higher to 3 points lower with sales of 16 contracts.

re-

$20.30

1350 Copper pot

$15.00 Lead 2nd halt Dec $2.70 $300

Trading Holidays

Over Christmas

London, Dec. 18.

The following holidays will be observed in world trading centres over Christmas:

DECEMBER

$13.400

New York Foreign

Exchange

New York, Doc. 18.

Closing rates were:

Canada

$1,04-11/32

England official'

2.78-13/10

30-day

futures futures

ARTTES

2.75-18/10

223-1/10

377-13/10

279-3/16

2750

90-day

Australia New Zealand Bouth Africa Uruguay India Pakistan

2022 2094

United Prens.

NAMESAKES

Answers---] Injustice, 2 Samson, 3 Delilah, 4 Salon. 24-In The Atrien, Sweden, and Switzer-| Parliament, & Paradise, 7 Blind- United

Kingdom, the foreign land.

new, 8 Nativity, D Royalists, 10 exchange market will observe Normal truding Lat Japan Regained. normal trading. The following and India,--China” Malt Special, |

John Milton are closing carly: London Stock Exchange,

Exchange, morning session only, Baltic Exchange, morning session only. Liverpool cotton and grains, morning session only. All other markets are closed.

Metal

In the United States, normal trading in foreign exchanges. Closing early are the New York excuttonseed, soybean oil, tallow,

Strength in world futures flected commencement of pected German buying of rows

from various producing coun-

A NEW COMPANY?

pepper, Chicago grains, soy From the word "CO"

beans and lard futures. The tries Dealers estimated Ger-

following markets are closed: many purchases at 25,750 tons, Wall Street, New York Coffee mcluding 15,000 tons from Peru and Sugar Exchange, New York Exchange, New York 8,000 of Cubans raws via a deal Cocon with Yugoslavia: 2,000 tons from burlap, hides, rubber and metal Colombia and 750 tons

future, New York and Now Surinam, Dulch Gulania.

Orleans Cotton Exchanges, New York Wool Exchange and the

Youk

Mercantile Exchange.

from

Tomorrow, Germany is ex- pected to take a large blocks New trom Cuba and the Dominican Republic, Futures:

Contract No. 4 (work)

Canada

4.82 In Canada, the Montreal and 430-22 Toronto stonk exchanges are closed, Winnipeg graing market will be closing carly.

March

4.83

May July September ALATCH

NY Oil And Seed

4.49 Spot (cents per in, fob Cuba) 4,85 Contract No,

16.30.

March New York, Dec. 18. Prices

Dil May of cottonseed futures closed today as follows: July

September in cents per M.)

Spot (onta per lb. clf NY

(ex-duty)

5,72

15.30

·8.20

5,80

36.93

Hind Pros.

15.28

July

15.22

Bept,

15.80

10.08

Dec.

15.25

Cocon Nices in 'cents per b.

were:

Dec

Boyba itet"| 14%" cent

place your printing order where you are assured of personal, attention, expert designing. the finest materials and craftsmanship.

From Articles of Association, Share Certificates to Letter Headings and the many other essential items, consult the Printing Department of the South China Morning Post, Ltd.

Is other countries, afl markets. are closed in Australia, Braxli, Italy, Portugal, Sweden, West Germany, France, Swit- zerland and the Netherlands,

DECEMBER + 25——A1). the principal world markets are Call in at any time,,

and examine specimens

oloped.

DECEMBER ·20min: the of quality printing which United Kingdom, ali marketee shall be proud to slow

In closed.

the United Stales normal trading, also in Canada

STO

LONDON SILVER PRICES

London, Dec. 18,

was quoted In other countries markola for potato' ?/closed, Int Australia, for Abrward (against Denmark, East. Alcica, West -Germany," the ' · Netherlands, (ak perče previously)

Italy, Norway, Singapore, South

Möming Post Building

Printing Dept.