1957-06-12 — Page 9

Page

THE CHINA MAIL, WEDNESDAY, JUNE 12, 1957.

TRADE and COMMERCE SECTION

GROWING MARKET IN RUSSIA FOR UK RAPID AND WIDE

America's Export WORLD Also Rising To RUBBER Eastern Europe

London, June 11.

MARKETS

New York, June 11. Rox rubber contract closed to- day to points higher to 20 points

July

Sept.

Nov

Jan.

Mor. Atoy Juty

British goods are finding a growing market lower with soirs of 135 contracts, in the USSI and Eastern Europe, and to some extent, so are American. But the latest trade figures from London and Washington serve to underline the difference both in scale and range of products.

The US licensed more goods for exports to the region during the first quarter of the year than in any other period since 1949-some £5 million worth, of which just under half is likely to be acually exported.

Д

This amount, which excluded relief supplies to Hungary, WON

amount licensed twice the your age, and, according to the Commerce, Mr Secretary of Sinclair Weeks, "reflected progressively broadening interest in US non-strategic goods, not only in agricultural products, but also in industrial machinery, textlies and chemicals."

Observers aay it also reflects larger US imports from the region at the end of last year.

Recently

Until very recently, the seale of US ales in the region had not seriously concerned other Western exporters, But neither dld Wes Gorman sales three or neither do four years ago, Japanese sales at present: bul both show

signs of Caching great strength positions of

HS suppliers to the region,

The actual rate of American exports in the last quarter of 1956 was just £3 million to the USSR and Eastern Europe almost combinan amount Italgnificant in relation to either German, British or French sales. Trade observers view the US trade statistics with particular interest in the ilght of current US moves Lo

lighten umbargo un shipments to region.

the the

It is clear that American trade is sill; largely confined to

furm products, us the first seven

categories of goods

show.

licensed

The largest machinery

In the reverse direction, Bri- tain has been taking a steadily increasing amount of Soviet pro

Britain took duvis. In April, £3 worth for every £2 laken thus lifting the in April 1950,

£14 clate wo year's million from £13 million (a rise of about

total to

year ago per cont).

Record

A

In April shipments of Soviet ures to Britain resohed record proportions. Pig-iron alone was worth Tarly £900,000 and manganese orcs over £500,000.

Tuicing the first four nonths of the year, Soviet plg-iron has been worth almost £2 million (slightly less than a year ago) while munganese ore was worth £940,000

with (compared

800,000 a year ago). Supplica of Soviet word and of cotton showed conflicting shipments were trends: wood

pur cent running about 12 above last year's level, worth nearly £1 million, while cotton to £1 rallion fell shipments from £1.7 million.

Sovlet oll and products, on the other handt, made a recovery and were worth April in

bringing the year's £120,000, total to date up to £360,000 or almost as much as was shipped in the whole of 1030, China Mall Special.

TREASURY

22,45

Standard contruct closed 10 ne sales reported. higher to 20 poln's lower with

July

Sept.

Nov.

JOB.

Mar May July

32.04 32.03 12.45

33.00

Realising by some of Mon- day's buyers and dealer hedging brought an easier tone toward the close following forenoon firmness with the higher Lon- don cables, and reflecting higher shipment

offerings prices, Domestie factories also were reported to be fair-sized buyers on the advanco,

In the shipment market offer- ings from Saigon and the Indo- nesian area Included one sheets al 32% at 32% eents; two cents; threes at 321⁄44 and fours at 3274 cents a pound, June/July, coul and freight. Locally, spol at 33% No. 1 Res was quoted cents a pound.

LONDON

The rubber market was Arm with spot quoted at 27-11/10 pence per lb. Prices:

July/scut.

CHANGES IN

HONGKONG OCTOBER COTTON

NEW BUYING IN

NEW YORK AS STOCK IKE RECOVERS EXCHANGE

New York, June 11.

New York, June 11.

Rapid and wide changes in the October, 1958, delivery dominated cotton futures trading today.

After soaring to a new seasonal high, October slumped $1.25 a bale under realising and increased hedge selling coincident with a let-up in commis- sion house buying.

Our Own Correspondant Stock surged forward to new highs for the

Business done on the Hong- year on renewed enthusiasm today as President og Stock Exchange this

Closing around the Eisenhower returned to his White House office, morning amounted to

the list. showod ximately $628,000, Noon quota- lowest levels apparently recovered from the weekend illness tions and the morning's trans-net losses of 0 to 11 points.

actions.

The market opened unchanged which gave the market such a jolt.

to up 3 poinia, and at one time New contract July/Aug

All sections of the list joined in the rise which BANKE lifted individual stocks a point to more than 6 INSURANCES points on active turnover.

The President's appearance at his desk shortly before the mac ket opening brought new de- mand on top of the buy orders which had plied up overnight

the rise and

was extended steadily throughout the session

by

Shell Oil Co Saint neg. Paper Binclair Of

Socony Mobiloli South Puerto Rico Sugar Southem Co. (720)

them National Cas

Standard Brands

Southern Raliway

Standard Oil of Ca

Standarti Oll of Ind. Although overshadowed

Standard On of NF Monday's 3,050,000-share total steep Rock (Toronto Exge.j achieved on activity which kept Sterling Drug Co reporting tickers running late by Storely-Van Comp.

Studebaker Packard Corp. as much na 14 minutes-tura-Swift & Co.

Lotalled 2,650,000 Texas Co. over today

of the year, shares, one of the best sessions Tido Water As, Oll

Tline Inc.

Sharp Gains

numerous

Bharos IIK Bank

Union SIRPPING Waterbost 20.10 Wheelockd 7.00 7.09

Realty

NVER

appro-

day**

Old contract July/Aug.

Det/Nov.

Dec/Jen.

Mar/Apr.

May/June

J09/AUR

Oct/Nov.

Dec/Jan.

Mar/Apr. May/June

25.01

20.01

July/Aug.

KARACHI

on

Techniciana pointed out that

showel

at the high polat today, October a cumulative rise of $10 a bate from the

low established

almost

July contract continues to be under

speculative. pressure, touching now lows on current downward move.

Now crop contract encountered little selling today,

Buyers Beer

1030 1040

00 D1

MAYON

43035

30 w 90

was up as much as 17 points. New Orleans closed off 2 10 14 points.

1000 L 3X 1300 7.55

950 † 7.10.

DOCKS. ETC.

Wharf..

Dock

110 4334 44% 300 a 44 Pykent (0) 19.30 13.40

season'a April 20.

(Com)

LAND, ETC.

44

Hi Hotel..

30

tumphreys

Land..

15.40 1510088 30

2000 m 1514

Three Factors

作

1.50 1.5235

Trust

1.30

UTILITIES

Tram

...... 23.30 23.00 1350 a 21.30

201

Star Fony.

137

ભ

Y'aument

Twenty Century Fox Fibr

Union Carde

1

C. Light (0) 18.00 19.10

(g) 13.20

A post-opening buying ruah sympathy with New York, was coupled with three main partiy on expectations factors: 1. Expectations that favourable Pakistan-Japan trade the sail bank programme will be agreement talks

which 100 of 21.30 in operation next year, 2. In-menced tomorrow,

areasing doubts about any cotton price legislation this

partly in

and

of

CONTI-

M

Prices closed in rupees per

Unios Pacific Railway

203%

71/2

Utilted Alteraft

120 Electric 50

29.90 Macao E... 0.50 Telephone 2011 20

18/4

300 20.00 2000. 20.50

200 Punjab roller gin

maw gin

saw gin

SAO PAULO

02/4

BLA

INDUSTRIALS. Cement

327%

33

200 $3

600 323,

300 33

Поре

13.40

Amoy Cau 34 STORES. ETC. Dairy

500 35

against

October purchase on the theory

July

Oct

39.00 unquoted

14.70 14.00

Watson

Lane, C

凹

500 G 14.89

70032

Kwong S. II.

that the present wide-intra- month difference will eventually level off.

Dec.

41.01

Mar

41.20

May

$1.10

181

The government weekly crop bulletin

States, The

lete in the week following.

迮

nt 14 designated spot markets

23.00

change to warm sunny weather

in the western portion

of the

United Gas Corp.

U.S. Foll "D" With sharp gains in the steels, US Line Co. chemicals, oils, motors, metals | U.S. Rubber and

miscellaneous Smelling

US, Steel Issues, industrials ran up 5.72 points to 509.48 in their averages. It was the best gain since Feb. 15 and fifted prices to the lovel of last Sept, 6.

Even the laggard ralis joined 279-273 in with a gain of 1.45 to 145.08 On average, Utilities picked up .14 to 73.70 and the 65 Hock composite rose 1.83 to 170.51.

No. 1 Ra spot

Settlement house terms:

July

2731-28

August

271-28

September

273-28

27-20

Jan./Mar

271-20

Apr June

273-26

Gestal markets, clf

basis. ports: 27-7732

44

Det Dee."

June, July and Aug. Extala crepe

Estate crepe thick July

AMSTERDAM

The rubber market was firm. Prices closed today in guilders. per kilogram, clt June as follows

No. 1 rubber

No. 3 rubber

No. 2 rubber

No. i crepe

3,00 paid

2.06 puld 2.02 buyers

2.63 buyers

ilm, for instance, was TO CHANGE Sober prices were

worth

of

making The Commerce Department's details

following show the

machinery for Czechoslovakia.

groups of venced goods for the

first quarter; incatble

tallow,

hides, boods, pearuis, wool rags, and soybeans (each of which

PLANS?

New York, June 11. An increasingly tight

was worth more than £150,000):money market may force

Dynel

knitting yarns, moter-ears (each

worth

and over

Values

£10,000).

followed by petroleum coke, the Treasury Department to change its plans for borrowing between $3,000 and $4,000 million in late June early July, ac- cording to financial quar ters here.

The

actual values

tallow (mainly for USSR)

£800,000:

were: Poland and hides

anl

and

peanuts

or

The Departament is now said to be considering suggestions

unavailable-United Press,

New York Sugar

Market

New York, June 11. World

Of 1,183 issues appearing, 713 were higher, 251 lower, 210 un- changed with 65 at new highs,

a new lows.

NY Stock Exchange bond volume was $4,480,000. American Stock

Exchange volume was 1,140,000 sharta.

Closing Prices

&

Alden Inc. Agy. Allied Ms The Allis Chalmers Ainetlean Airline American Cable

Corp. American Cyanide Co. Amer. Forgn, Power Am. Gas & Electric As Mach. & F'dry. American Metal American Snelling Am. Sugar Hef. American Tel & Tei American Teb. """ Anaconda Copper Armco Steel Antour

AU Com: Minlog Baldwin-Lima-Hani.

Rallimore & Oile

No. 4 sugar fu- Benguet Cons

closed tures changed to

today

14

Butlichem Sterl

un-loving Airplan

Borden (The) Co. points Durrought Add Machie

Campbell Soup Co

higher with sales of 1,105| Cazzadian Pacilie 1. contracts.

of this money which it needs points higher with sales of 291 Climax Molybdenum

to offset & normal seasonal lag contracts. 17 tax collections and then acquire the remainder some time in August.

Warner Bros. Westinghouse Electric Western Union Tel. Co.

West VA, Pulp & Paper

Woolworth

United Press,

CHICAGO GRAIN MARKET

Corn

Chicago, June 11.

futures closed higher, other grains do- clined

Board of on the Trade today after a quiet 171 Bossion.

30

"

The Influencing factor in 10- day's market was the Govern- ment crop report released late 20% yesterday which predicted good

wheat production this year.”

301

2011

Wheat began_moving lower ut the opening, reflecting this news Other grains followed the action by whoat

COTTONS Textile

103 103 200 104

season, 530010

Serious

over the maund as follows: B23 ur 2240 13 20 delayed crop stam over large sind roller gin

concern

areas of the etatral und wisten dior Bind roller gin

110028.00 belts.

126.00

Nearby deliveries lagged most of the acsalon. Spol house cf- ferings at the 35.33 cents levol for July

hampered rallying

tendencies in that soetor. Fres

Cotton futuro closings, in crus

sure in now July was credited zeiros per kilo were as follows: 10 straddler seiling

11.70.11.90 2000 11.9

4.60 4.03

Nanyang XD $.05 MISCELLANEOUS

Entert

INVESTMENTS

All ed

4.50

Invest. 10.30

HK & FE

SPECULATORS BUSY IN LONDON

London, June 11. Speculators, arguing

that South African, gold shares have been

In the United

noted an improvement average price of one-Inch cotton

was not available,

main belt. But critical concern Total sales at these 13 marl:cla

was indicated for Jale

sceded was 21,905 bales.-United Press,

cotton in the low plains where

the crop is two to four weeks

Jetc.

Month

July

Volume 3,100

Open InterENT

109,800

Oct,

1.200

171,300

Dec.

13.100

212,100

Mar

8,300

120,000

7,300

120,000

July

1,200

70,300

Oct.

19,100

75,500

Todal

€3,800 838,700 bales

NEW YORK

Prices of cotton futures closed

today as follows:

Sput

rūty

over.

Oct

Dec

sold and are a good pur-

MAL

May

at current prices,

July

Oct

Wheat closed off to chase cents for old and of % to worked gallantly today to cunts for new. Soybeans closed | revive that rather 401 unchanged to oft i cent,

market.

210-210 20412 210-210 210-

Вспеле Finance

18x

Bendix Aviation Corp.

Wheat No. 2 red

Spot

204-20451

401%

July 2011(E) COL) 2011

鸡经

Sept

20412

ᎬᏁᎸ

Déc.

ZDO

40%

Wheat new contract

SILL

July

30% Sept

Case (J. 5.) Çu.

161

Dec

Cat. Tractor

时候

Mar.

Colonese Corp.

1BT

May

2001

The domestic No

6 sugar that it should borrow only half futures closed unchanged to 5

C. 1. Financial Corp. Case Manhet. Dank Chrysler Motora

46

Com, No. 2, yellow

48%

Spot

333

73

July

TREA

Sept

Doc.

45

Mar.

402%

May

3034

Ryc

広

July

12311

110

Sept.

110%-%

Data

10

771%

July

Sept. 0644xd

0372 041

105

Boyleans, No. 2, yellow

Spat

104

July

50%

Gas

Hept.

Family Finance Corp.

Firestone Tyre & Rubber Ford Moter .....

25

Nuy.

232-237111 203%

22034-3

.Jan.

55

Atar.

Gemoral Electric

70

Harley

4012

New York Bour

Get Pub. U.

200 lb, sek

-United Press.

Goodrich (B.F. Ch.

E

skins (mostly tu USSR and Czechoslovakia) £040,000; seeds for corn, gruss, and uffalfa

Germany (mainly East Rumar.io) £010,000: for Poland £440,000: wool rags for Poland £210,000: soybeans for Poland £100,000: petroleum coke for Poland £70,000: Dynel knitting

for yarn

Poland 220,000 and motor cars For Czechoslovakia Poland, USSR, and Rumania £11,000.

Twice as many British goods were shipped to the USSA in April as in April 1930, and this Britain's helped to Increase exports this year by 20 per cent to £12 million.

Desplie a slight deeline in the mola, product, copper wire, the maturing Government securities Contract No. 4 (world) annual rate of these exports to obtain funds that can now £36 million, which means placed in better-paying an expansion of one-third over porate obligations-China Mall last year,

Special

Narrowing those successes to some extent have been lower re-exports of rubber, now run- ning at under half ine level of a year ago. Recent Soviet pur- chases on the London market are believed to have been sub- stantial, a Luctor which will boost these figures later in the

year,

Strength In world futures re- ceted the higher raw market and reported Russian purchasea The tightness

tons of refined from of money has of 35,000 already upsci

of Great

Britain plus reports Treasury loan operations in the Marocco might set on June, 19 as recent months by leading the the date for its sugar tender. Treasury to borrow short-term money when it really wanted Domestic contracts also Intermediate CT long-term neeled the firmer raw situation capital.

and increased reiner purchases, At the same time, investors anticipating the heavy consum- have been

the jing demand during the sunumer nggTaveling situation by cashing in

an months, abnormally large volume of

bo

Cox

Singapore

Stock Market

July September October March May

July

September

Spot-vente por 15. fob

Cuba)

Colgate-Palmolive Co. Colombian Carbon Co Commercial Credit Cummortwealth Elec Consolidated Edison Crown Zelierbach.. Cuban Amer. Sugar Dunand Alkali poucas Aircraft Dow Chemical Dupont de Nemours hastem Airline Rasiman Кошак..... El Faro Nations

General Foods

General Motors

Gliddon Co,

Goodyear Tyre

0.10-20 Cat ou

6.17-18 Hayden Newport Corp.

6,13

4.61

Homerlake Mining Co. Ingersoll-Rand

Inland Steel Co.

458-67 Interchenical Corp. ........

4.37

Open interest: 1,105 contracts.

Contract No. 6. (domestic)

Int'l Burners Michines

Int'l Harvester

International Nickel

401

100%

October

December

July

October

054%

3131

Oate

July

Intonational Paper,

1000.

at Tei. „Tel_.........

3571

John Danville Co.

AD

Ryo

Kansas C. Power & Light

July

0.01

Kerncott Copper ...

September

0.03

November March

0.00

Idggett Meyers Tou. Co. Lockheed Aircraft ....

6.50

September

6.70

Loews

201

Spot-(conta per lb. cil NY

Lone Star

Opening

$1.05.

Uraled

ex-duty Open interest: 3,301

0.63

(All

contracts.am

Flaxseed

July

Tresa.

delober

133

December

Singapore, June 12. However, Britain's exports of Brokers today quoted the fol- machine tools showed a further lowing stock prices: Improvement in April and wore

£100,000. The Batu Lintang Rubber Co.

worth nearly four months total of £420,000 Briti almost three times as much as was shipped to the USSR a year ago.

Ltd.

Dotzio

$1.00

$4.00 †

Petroleum Syndicate Consolidated

Smelters Ord,

3 Fraser Neave Lid Ort. .. Textile machinery shipments Fraser & Neave ita cum. were also higher in April Gammons (Maya) Limited 11.10

pref £138,000 against mil Įpat April. Upngkong & Shanghal Bank-

But the year's total to date is ing Corp. still only 40 per cent of the rato Hongkong in het

Kumpas "Ltd.

a year ago, azul, expressed at or Cuala Kampar Ti antial rate, in only 75 per cent | Zinas Rubber Estaton of what was shipped to the Malayan Breweries USAR in the whole of 1960 New Berandah Rubber Co. (£2.1 million).

Petaling Tin Lig."

Singapore Cold Biorego true.

Eleptalenk - machinery -ship Rackow Elatai ments were only some se per Trading cent of their lovely at a while gripmond dry April were United Euribors

Woarna BrOR, VALAM hardly to pec ont, of April Paka Seva 1 Gronder) - (33 12500

$550

Ga 2015

6814

heavy

Their main trouble is that while the gold which the miner sell fetch only $35 an ource--- same as back in 1934-their coole have doubled and the profits of most them are very modest, This buying lifted Free State gold more than shillings, but the gain si the close was only 3 shillings.

The index of gold shares is now around 74 compared with 94 early last year.

DEMAND

was

even

NEW ORLEANS

New York Foreign Exchange

New York, June 11. Closing rates were:

Canada ..... England of

unonical

30-LAY 90-days

23.453

South Africa Uruguay

1.04

2.78 29/32

274-2.70

1.78 21/12

1.78 1/10

2.70 3/14

2475 -United Press.

London Foreign

Exchange

Prices of cotton futures closed today as follows:

Spoe July

30.10

October

་ཉ

25.40

New York

34,03

Montreal

34.03

Amsterdam

December

March

May

July

October

LIVERPOOL

Cotton futuro

London, June 11.

Closing rates were:

Brumala

Copenhagen

||Frankfurt

Paris.

Stockholm Vienna

closings, in Zurich

pence per ib. were as follows:

2.781-2.78 15/16 2.65 9/10-8.06 11/16 10.04-10.05} 140.072-140,621 19.4334-19,433 11130-11.224.

9342-204

14.4045-14.00. 72.37-72.00

13322-13333

Other unchanged.--United Pron.

LONDON METAL

PRICES

London, June 11. Prices of invints closed today in stocking per long com as fol-

·low:

Cement Co. Lowenstein & Son

McDonnell Alternit

AUKIPU

Btock Exgo.) ............. Megabi Iron Corp, Minnesota Mining Madon Development Monsanto Chemical Co. Montgomery Ward Motorola Inc.

National Cash Reg. A National Dairy Prod. National Lend

National Steel Corp. New York Cenimi Quin Mathieson Dila Elevators

wearilinois Clam Pasile Der & 100, Pan American Alkways Baramunt Pictures Parke Davis Co. Bygaru Seligy Peptor 700

291). Panny Salk "Co 700 Filip Morris

Procter & Gamble Co

130-140

$13.40m

WINNIPEG PRICES

Oll shares were in tremendous Shell Transport demand. Squred 14 shillinga to a new peak of 214 shillings, acconi- panied by Royal Dutch, up 13 sings 9 pence, also to a new peak at 23 sterling. British Petroleum rose 4 shillings and Burmah 2 shillings.

Industrials had a long list of smell gains; only feature Unilever N.V., up 9 shillings û penec. British

Governments Winnipeg, June 11. dull, down by 1/10s or Prices of grain futures closed 3/16s. today in cents per bushel as fol- Icws:

Chinese

were wanted and showed Vaing of 14 or BA sterling. Japanese sud, German were Idlo and featureless. Dollar

marked zlocks were down with their premium down

to 8%

Press.

per cent.(3nited

Exchange Rates

麵

Burtne was done in the local 234-253

unofficial exchange market this Canadian, wheat urport: No. 3, i morning at the following ratos:~,

30% non-IWA 1521⁄2 cents; No. 5i Va. dollar (per $1)

1332 cents-United Proso,

NEW YORK METAL

PRICES

New York, June 11. Prices of metal futures clóood- today in cents per lb. as follows:

13.40

Sterling notes (per 41) Australian notou (per (21) Indonesian mušlah (per 100) Glam fical (100)

apore (Biralte)

NAMESAKES

6.50

Answers:-1 Stupidity, 2 Ridi- culous, 3 Daink,

* Jopes, Dinky, 0 Dunco, 7 Caper, 8 Tipple, 9 Clowning, 10 Book, 11 Grin, 12 Laughter, 13 NonICERO, 14 Comedy, in Chach, 10 Jolees,

Dance, 18. Knowledge.

Sir Andrew Aguecheek (from

TYPHOON MAP

With Latest Amendments

$500 MOUNTED $49 OHMOUNTED

South China Morning Post Ltd.

HONG KONG & KOWLOGH

$3,10

$7.47T

DOS

*3-month Capper spot

404

December Barley

July October December

Copper

...רויד

June