1957-03-13 — Page 9

THE CHINA MAIL, WEDNESDAY, MARCH 13, 1957.

TRADE and COMMERCE SECTION

G

Page

CANADIAN DEVELOPMENT BOOM STERLING SHOULD DO WELL

FLATTENING OUT

RCA COLOUR TV FOR JAPAN

New York, Mar. 12,

Radio Corp. of America

Ja giving Tokyo its first glimpse

colour televi

van

of

sjon,

The

company han ship- ped a million-dollar cara. of colour televisiou equipment to the Japanese capital for demonstrations at the international trade fair there from May 5 to May 19.

Waitern,

Vice- A. F. Prezident and Operaiton Managor of the ROA Inter- national Division said this will be the first showing of ROA

colour compatible equiptment which includes fuli

colour TV

two

facilitlem

studio CAREER

chains, lighting and test- ing apparsluð, film trans- allung faciliiles and two fully equipped

unita.—United Prem,

mobile

Businessmen Watch Situation Closely

Ottawa, Mar. 12.

Canadian businessmen are keenly scanning the Private and Public Investment

for 1957, as programme

HONGKONG

STOCK EXCHANGE

(From Qur Correspondent)

WORLD RUBBER MARKETS

New York, Mar. 12. The rex rubber fulures today closed 20 to 30 points higher with sales of 68 contracts.

Bysinces done on the Hong-March

Stock

May kong

this July Exchange morning amounted to appro- September forecast byxinitely $463,000. Noon quota-

November January the Department of Trade and Commerce.

Mercha

A sharp sui-back in

housing construction, beginning in 1950 but gaining in intensity at the boginning of 1957, though

to high interest rates, has led ther 10 wonder whellor Canada's postwar development boom may be about to wane,

wvemments and private house- bullters

F

tlong t the morning's tran- sactions:

Rhares

BANK

HK Bank XD 1840 150 INSURANCES Unim

Tesidentiu! dur

construction exposted in be 18 per cent lower

Lombard On the other SHIPPING 1050. bund, outlays for non-residential Wheelock 0.70

DOCHS, ETC. evi truction more than take up

K. Whart the stack, with an increase of 18

Doult per селі. Expenditures equipment are expected to be up 10 per cent.

Largely because of less house buliding, present plans call for an Increase of only 8 per cent in capital expenditure during 1957, compared with no over- all increase of 17 per cent 1956, Talal expetiture.

KvOy,

En

how- amount to 3,500) tabout £2.810 welt above

million dolors million),

fast year's record-breaking total of 7,000 million dollars (about £2.700 million). Thre Totals include the capital expenditures ot all business institutions

WALL STREET

INDUSTRIALS

CLOSE

FIRM

New York, Mar. 12.

A few special issues showed sharp price change and one or two were heavily traded in a generally irregular and narrow market which generated the smallest volume since Feb. 26.

Turnover totalled only 1.600,- GUQ shares, 60,000 behind Mou- diny.

ย

Industrial stockt: closed on firm note in their average-up i point to 470.81. Rails lagged with their average off 16 point while utilities rose .29 to 70.98.

centred in

Trading interest the motors with American Motors in taking top spot on continued strength stemning from news that Anaucier Louis E. Wolfson is seeking to take over the auto firm. It rose 12 point.

Missouri Pacifle placed third in the sellves and climbed 1% points to $42.

Hardest Hit

Metals were hardest hit of the leading groups with losses rang- Ing close to 3 points.

Douglas lost over 2 the aircrafts and Boeing gave up u fraction on realising after its late run-up on Monday on news of ita record-breaking jot.

Steels ranged from a gain of clope to 2 points in Inland to point losses in Carpenter and National Bethlehem dipped fraction in netive trading.

#

Ot 1,117 issues traded, 484 were lower, 401 higher, 254 un- changed. There were five new highs set, 21 new lows.

Counesa Corp. CIT Financial Corp. Chrysler Motors ...... Climax Molybdenum

Colgate-Palmolive Co Colombian Carbon Commercial Cred!!

Diamond Alkali

General Foods

523

41 7636 0474xd 4202

4454

$B

Commonwealth Elec

Consolidated Edison

40

Continental Oil of Del.

53

Crewn Zeilerbach

51%

Cuban Amer. Bugar

2416

Douglas Aircraft Duw. Chemicals

704

30

Dupont de Nemours

Eastern Airlines

Eastman Kodak

El Paso National Gas (New)

3014

Family Finance Corp.

231%

Firestone Ther

8434

Ford Motor

5711

General Electric

4331

3

234 091

Goodyear Tyre

Gulf Oil

ileyden Newport Corp.

11714

Hoistake Mining Co.

344

Ingersoll-Rand

Inland Steel Co.

701

Intercheinteal Corp.

27

Int'l Business Machines

301

International Puper

International Nickel

32

3014

1001

息糠

43!

18

General Motors

Gen Puh. Util

Getty Oil

Gikkten Co

Int'l Harvester

Int'l Tei & Tel John-Maville Co. Kanisan C. Power & Light Kennecott Copper Liggett Meyers Tou. Co. Lockheed Aireenti“ LAWA Incorp,

Lone Star Cement Co. (New) Lowenstein & Sona, Mosalt Iron Corp. MacDonnel Aircraft

Minnesota Maing

Salon Development Munnio Chemical Co. Montgomery Ward Motorola Inc.

National Caplı flest. "A National Dairy Prod. National, Latvi National Bteel Corp. New York Contral bond Olha Mathieson

Our Elevators Owen-Illinois Oline Pacific Gas & Elec

NY Stock Exchange volume was $3,620,000. American Stock

Exchange volume was 700,000 shares.

Dow-Jones closing averages

wone!

30 Industriale

330 Talla

I ulos

CB locks

40 bonds,

Comun, future price index..

Closing Prices

Allied Chemicals

Allied Ms Inc. Allis Chalmers American Airline American Cable,

Corp.

American Cyanamide Co.

Ameri. Forgn, Power

A. Moch, & dry.

American Metal

American

melting

Ani. Bugar. Ref.

American Tat

American Tob." "B"

Anaconda Copper

Anog. Boel”,

Armoi

470.31

Pan American Airways Paramount Pictures Parke Davis Co. Penny J. C. Co. Penn. Salt Co. Philip Morris

Proofer & Gamble Co. Pittsburgh Plato Glasn

141.70 Pune Ol ........

70.98 100.37

20.87

tadlo Corporation

Republio Blogl

Reynolds Metal

100.03 Shell Oil Co.

#87

2014

224

Saint Reg. Paper

Sinclair Oil

Socony Mobilolt

Bolar Aircraft

Bouth Puerto Rico. Sugar

Southern National Gas

Southern Railway (Com.) Sleep Rock (Torontoux.) 104 | Blendard Brands,

Standard Oil of Cal:

31, 20

31.35

31.20

31,00

30.70

21.00

30.85 30.70

30.53

Buyers Sellers

Bales

Standard contract clpsod 25 to 30 points higher with no sales reported

March

3120

[K10

May

50

July

September

0.89 1000 a 8,00

November

January

102

March

461%

on

Prov. (0) LAND, ETC. HK Hotel

13,40

23 1320

10 15.10 1000 @ 15

cables and

NK Land

35%

17

1.33 1.375

1.45 5000

1.42

3000 1,0

2000

22

136

100 100

200 21,00

100

160

*The depriment estimates

x All.... Thus, 17 present plans bold, Humphreys

XD capital spending will not

only Really be the hughest na reeard but | HUBĀKIE will also penbably absorb the Amok.... 1.42%

Trist large proportion of the gross UTILITIES onal product of any poel-Tron X war yeur. In other words, the Star Ferry devilepinent boom may be fint- tering can but it is stri truch under way

Peak This Year

You all

Light very | Becir XD

Macao F. Telephone

Xb

Most Of the expenditure planned represents projects un- dertaken in 1950 and reaching their peak in 1957. Indicative of the flattenhug out is the fact that planned expenditure on new projects to be begun during 1957 is relatively small. The end of the recent bulge in the boom is therefore in sight, though great development may continue.

During 1950, scarcity of key labour ligh!

materials and

supply proved the main bottle- necks in currying out capital feels

expansion programmes. In 1957, the Trade Department

present

plans call for only dditional demands on

ts and labour, Provided that there is no renewal of the steel strike in the United States, which handicapped lust year's progress. there should be no shortage in mast Курен об steel.

con-

Wis

So far 15 labour is cerned, the labour forcO fully employed during the peak of the 1056 building season.

Emphasis

200 102 200 de 40

100 40%

2200 23.10 2700 or 22.90

9.30

53200 11.00 2000 F 2390

INDUSTRIALS

L'oment XD 329 21 7200 32 Itope

12.30

200 1.0215

Metal 1. 1,0216 Ay Can az

10.10 10.20 500 18.10

STORES, C Dairy

... Watson: X A COTTONS Tooc1iles... 4,70 Natang

11,20 11.40 1000 13.30

4.00

MISCELLANEOUS

Entert

8.00

10.10

London Stock Market Higher

The

London, Mar. 12, stock market closed Irregularly higher despite fears of labour unrest in shipbuilding and engineering industries.

Department stores and assort.

ed electricals recorded gals. British Ford was firm following Its unchanged final dividend for the year ended Dec. 31.

In the aircrafts de Havilland closed higher following a dividend boost nd report of higher earn- ings Textiles closed lower.

Middie

Os, although steady at the close, were sensitive to East uncertainties. Gold mailpg shares declined. Copper shares were irregular. Rubber and tea shares closed study.

This year, since the emphasis is on the cugineering type of development, there will be com- little increased de- partively mand for on-sile building 4werkers. The numbers employed are likely to be about the same

rallied as last year. The labour situation is therefore likely to be a little easier than in 1950.

Summing up, trade and com- merce ometals expect that this year's record investment

pro-

gramme will be realised. But if

Higher trend reflected seller cautiousness in face of steadier

indications of Д

developing factory demand in the focal market.

Shipment offerings were

in

fair volume and steady to firm prices.

Reported sales included some

IN THE LONG RUN

London, Mar. 12. SHIRE »çema tô be few intractable problems, other than the D-mark und the French frano,

which is far more important, may not do brilliantly in the shorl Fun but should do well enough in the long-

KOTI-

For this century the dollar debi

will be most valuably solidated by replacement of outright walver of the Interest, which had become void for uncertainty, By the possibility

af postponing both interest and principal, next century can look after itself,

There is always the possibly too, of the reserves being strengthened by a liquidation at Inventories.

Sterling labiles to sovereign equntries have also been most valuably worked down over the years, though there may still be some pressure to come. and when· Industry in Bri- .

tain and other storing coun from the big sterling balances of colonies

tales has to work in and ex-colonics, notably West Africa.

petitive conditions which

In the way Congivas works, it may be some months before the $140 million sot näide for the interest waiver

be wrilion back into Britain's

can

TEBOTY ES. Meanwhile they will be helped by India's drawings from the IMF, The slownoes of bear covering

moans that there is all more of it still to come.

the

New York Cotton

Futures See-Saw

WORLD PRICES

New York, Mar. 12.

Cattan futurea see-sawed over a wide range

March shipment one sheets out today in spasmodically active dealings,

of Cambodia at 30% cents

a

pound, cost and freight. Local-

ly, Spot No. 1 Res was quotea bị 31 Ent.

SINGAPORE

The market ruled dul Throughout the day without much trade interest. There was some small Inquiry for lower gmdes. Futuro closings were: No. 1 rubber por 1b. Apr. 89-91

May 893-00 No. 2 rubber per 1b. Apr. 871-, No. 5 No. 4

Spot rubber unboled Blanket crepe

AMSTERDAM

|

Operations centred mainly on final adjustments in the March delivery" before its expiration tomorrow. Outright liquidation was absorbed by spot interests while other dealers switched bolween nearby and lator monthɛ.

March contracts closed at the day's best lovels ruling 26 points

up only. 3 to 5 higher while other months were points The market opened off 10 to 1'polat. New Orleans closed up 3 to 53 points.

Singapore

Stock Market

Singapore, Mar. 13. Brokers today

quoted following stock prices;

the

Opening Bota Liptang Rubber Co. Ltd. $1.00 Brian BOTTEG Petroleum

Byndirat

-

+

64-65

Consolidated Tin Smelter

No. pale crepe

70-78 05-87

on proposed cotton legislation

Ord, Fraser & Ntavo, Ltd, Ord. ... Interest in new crop months | Star. & Neavo 7147% buy.

prof. lagged, as traders awaited crop accounts and congressional deve garnona (Malaya) Limited $197

Hoogkong & Shanghai Banking

Corp. lopments on farm legislation. The The market was steady, Prices House

7/84 Agricultural subcom-Hangkong Ties Ltd. closed today in guilders permities today opened hearings Le Rubbe kilogram, cif April as follows:

31/01 $3.30

$4.00

Rubber Estates Malayan Breworlea pun New Berandah Rubber

12.00+

No. 1 rubber

No. 2 rubber

2.04 bugerS

Petaling

Lu Tin Lud.

No. 1 rubber

250 buyerA

an

No. 1 crepe

2.57 pald

2.11 buyers London rubber prices were unavailable-United Press.

CHICAGO GRAIN

MARKET

Chicago, Mar. 12. Most grains closed stendy on the Board of Trade today.

Wheat

finn in early trading due to commission house buying on the reports of a cold spell in the southwest.

wns

Wheat closed up to off cents.

bonds Soybeans closed off to up casiness, cents.

were wheat No. 3, red

British Government

from intial Some Japanese bonds casier in an idle foreign section. Dollar stocks were mostly lower.-—United Press,

bond

casts continue to move upward. New York Foreign

as they did last year, its dollar

value

mny be considerably

higher than the planned 8,500

mlilion dollars. China Mail

$ Special.

New York Sugar

Market

New York, Mar. 12.

sugar futures

World No. 4

Overnight issuance of delivery

notices for 1,000 bales brought Poles Hotel

Singapore Cold Storage

Steamship

opening furry of Murch month to 34.00 cents A pound Straits Trading Iquidation, lowering

the spot. South British Insurance Co.

Ltd. and widening the discount under May to 36 points. With stop page of the tendera Агрипа noon, the markot recovered with. March recovering about two-thirds of the discount.

Open March contracts today totalled 18,500 bales. Trading will

12.30 pm. to- ccase at morrow. Traders pondered the possibility of additional stock to 10,070 bales,

month

March May July

October December

March

MAY

July

Total

Volume Open interesi

6,000 47,200 23,400 352,400

3,700 144,100 5.900 102,500 3,400 71,400

2100 140,700

2,000

1.400

63700

39200

$3.900 1,000,200 bales

NEW YORK

Prices of futures closed today

May

October December

March

MAY July

NEW ORLEANS

Spot

2321-2331b

Mar. 232 2310

as follows:

May

July

Apol

Sept.

2204-14

Match

Dec.

24934

Corn, No. 2, follow

Spot

Mar,

Mar

Exchange

July

Sept.

Dec.

New York, Mar. 12. Closing rates were: Canada

Ryo

Mar.

1.042

May

2.07-169

H

official 110-days D-day's

2.79-11/16

Oats

3.70-7/10 Mar,

13744-139

น

as follows

Spot

March

May

3.79%%

Australia

New Zealand

South Afrien Belgium Uruguay

2.70-11/10 2.00-1/10

May

Soybeans, No, Z, yellow

Spot Mat.

December

240 24392

March

United Press.

May

July

Sept.

2442-14 2414 234-23514

May

July

Nov.

England unofficial

3050

closed unchanged to polie London Foreign Barley,

2 lower with sales of

544 con-

trnets.

4512

45

TAAL

No. 8 sugar futures

closed

30% unchanged to one point lower,

623

41

with males of 77 contracts..

Exchange

London, Mar. 12. World contracts faltered after

Closing rates were: yielding early New York

4114 & flrm start, 结

1716

Montreal

gains, and a little more, under Amsterdam commission house liquidation Brussch 341) and producer selling while the Copenhagen trade awaited further raw mar sto

Milan kot developments.

19

Stockholm Vienna

2.70-0/10-2.791% 2.0755-2.073.

10.0114-30.0731

140.735-140.775

10.424-10.4234 $700-170034 19.009-10.00%

1449-14AB1, 77-03-72.80

Others were

Zurich

Press.

34.89

12

Prices of futures closed today

July

October

LIVERPOOL

28.04

21.43

Futures closings, in perco per

lb. were as follows;

Spot

130-140

New York flour

200 lu. wack

Old contract

inited Pres

$13.400.

Mar/Apr.

May/June

July/Aug

UCE/NOT

Ded/Jan.

Mar/Apr.

MENUNG

July/Aug

Oct/Nov.

Dec/Jan

Egypuan Kaynik

Jan/Feb.

NEW YORK METAL wontract

FUTURES

Now York, Mar. 12. Prices of metals closed today

in cents per lb, as follows:

10.100

Lend March ..

unchinkedUnited | Zino

April... 15.000

12.201

March.. Aparihar 13.036 20150 Copper March

LONDON METALTM

PRICES

London, Mar. 12.

Pricen of metals closed this

Radio

Handard Oil ut Ind.

Contract No. 4 (world)

76

Standard Of of 14. ....

14

Sterling Drug Co. (New)

K

| Blakely-Van Camp,

183%

2514 Studebaker-Packard Corp.

712

11016 Texan Co.

Bwllt & Co.

Moy July Sept. Mor.

6,13-14

G.IR-13

002

15 Tide Water. Amen. Oli

May

July

Gold Time 100. ****........

0411

Twenty Century Fox FUM

200

Spot-(canta per ib. fob

Cuba)

9.10

6315

Union Carbido

1101

182

Open Interest: 0,169 contraçta,

Attas Cone Mining

Union Pacific Railway

2716

1936

United Afreente

Baltimore & Ohio'

atk

Fold "B"

Contract No. 4 (domestko)

Rs follow

Bendix Aylation Corp.

sal

Batt

US. Gypur

Beneficial Piano

Benguet Con

20.8. Rubber

UA. Line Co.

May

41

UB Bleet ...

Blowing Airplane

4714

Warner Dro

(716): On.

Western Weetinghouse Flagirie

Union

5.90.

Csókolan" Packlo ft."

Cage (717) D.

Wht Va. Pulp & Paper Woolworth

per 16. tit

Open inter

Cat. Traktor

20562

Kards.. gkijk) (standard)

94BTI) - (VERIL) 97.8735)

*United PregR.

April March

April...

morning in sterling per long to Exchange Rates

Tin spat

3-month (Copper spot, Cannon thi

Land let Balk

Izine-18) half Maret

June

Business, was done in the locs! möming at the followin

FUR FARUK noted "per

rupinti_(pe

2555

Bam-11am) - (per 100) singsporw ♪ (truita)-

10%

SAO PAULO Futures closings, in cruzeiros per kilo were as follows:

Dee,

38.40 50,00

In the US the average pripo of one-inch cotton at 14 der signated spoi markets was 33.78

at cente, Total majes

theme markets was 15,400, balss.

КАВАСИ

- The market was eruśle due to. tile local speculative operation. 10- day. Peloos ir taproos per maund ma follower; ?

A Sind roller glo

United Engineers Ord." Weame Bros,

cumdiy

China Hall Special.

$1.00

30

$37.00

30.001

2.90

NOW!

Ir

com-

force it to husband instead of to pad is inventories, thero

la

scope for Dubstantial transmutation of Physical into monetary resetves,

At the 10west, B not-

Indationary expansion British Industry

should

TO

not

require or entail BILY. Over expansive restocking of Im- porta-China Mall Special.

AUSTRALIAN BOND ISSUE

IN AMERICA

New York, MSF, 12.

úcaded by

A Morgan Supley & Co. is marketing an issue of 20 infllion of Commonwealth of Australla 15-year flvs per cent bonds-ihe third publlo Ananging by the Commonwealth in the US since 1954.

The Commonwealth will ugo proceeds from the saje toward payment of $12- 114,000 of 10-year 34 per seni bends and dapital works and expondligree,

The new bonds, dug March 1, 1978, are priced at 100 per cent and ́avcrued interest to Field 'live per gent to mainrth?,

The mom) recapá puklio of Commonwealthi sale bonds -herɑ involved 'gn Imao of 25 million 15-year 41⁄41⁄2s marketed in Jane 'of lari year.......Unitsa Prem, --

2 Mur-

NAMESAKES

Answers: 1 Delect,

der, 3 Grammar, 4 Newspaper,

& Thriller, 0 Writing, 7 Candle, 8 Journalist, 9 Fleet, 10 Plaque, 11 Clues, 12 Mystery.

Edgar Wallace.

FLY Taloa

OKINAWA-U.S.A.

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