1957-06-27 — Page 9

THE CHINA MAIL,

THURSDAY, JUNE 27, 1957.

TRAD and COMMERCE SECTION

THE BILLION-ZLOTY QUESTION COTTON FUTURES

What Does The Polish Worker

Live On?

From FRANK MacGARRY

Warsaw, June 26.

NGKONG RALLY STOPPED

TOCK

HANGE

Ou Correspondent Burne Bernismounted

SHORT ON

WALL

STREET

New York, June 26.

A modest stock market rally was stopped

on the Hong-short today with news the Soviet Union had agreed

to a new American disarmament proposal.

to

this up-

morning's

A billion-zloty question for the Polish Exchange Government: What does the Polish worker live proxin $450,000. Noon on after the 15th of the month?

quete and the 1115

start

1033

The government is worried because every single zloty paid out monthly in wages over the HANKS Sebres counter of the National Bank of Poland returns through the bunking, system, mostly by way of SHIPPIN socialised commerce, by the 15th of the month.

CHATTER

ON WALL STREET

New York, June 26.

that based

Orvis Brothers & Co. says

on

Ginoon

INSURA

Warring DEKS, D

1. What

402)

LAND. E

1K

In theory, the Poles live for Providen

nest

the month the nothing.

of

In practice, they spend, on twice the purchase

amount

L

lly receive in wages from the Humphrey socialised enterprises. AndRUBBER only 10 per cent of all pur- chases are made by people who are in what private enterprise Where is teft,

Thefts

Tie common bellef in that the small for two weeks in every month,

راز

Saler

The advance had been a small one, on light turnover, with just a few features in the aircrafts, televisions and miscellaneous issues.

Sears, Rosbuck & Co.

The Inter selling generated no | Radio Corporation ..... more activity and volumo

for Republic Steel

Reynolds Metal the elon totalled only 1,870,- 7.78 000 shares, lightest since April 5, compared with a 2,000,000 shares total on Testiny.

1.80 3500 G

1500

441

10%

13.

Announcement that Ruania

15.40 1500 10.30 had agreed in principle. to a

31

GT 1030 American proposal for moth

300 10.00 balling ships, planes, tanks and

Shell Oil Co.....

sint Reg

Sinclair Ou

Paper

Bocony Mobilo

Solar Aireraci

South Puerto Ileo Bugar Southern Co. (The) Southern National Ga

204 10.00 uro in a move toward East-Standard Oil of Cal.

10.00 West disarmament. raised question of spending cuts,

224

1.2 1.433

Amalg Trust UTILITI Tra Yaumati

101 100 103 C. lacht 185 1850 1000 18.00 Electric

20 7:00.00

20) 20.00

1.53

Mac 10 10:50 "J'a

ININSTAL

volume on dealings the re-Poles live on the proceeds of ment

cent price setback appears technical.

E. F. Huttun & Co. lists hot air Weather beneficiaries conditioning and beverage stocks such as Carrier, Fedders Quigan, Coca-Cola, Canada Dry, and Pops!-Cola.

IMPROVEMENT

thefty

ак

factories from (One zloty is offcially shopei. worth about 1/104.)

These theft are said to run into billions of zlotys a year

of the shortage of Because commodities, everything in Po land has a grossly exaggerated Ivalue,

The Polish worker do not "blue" his wages in wild living. He cannot afford to. The aver- Bache & Co., analysing Grey-age working wage is about one hound Corp.,

says this year's thousand złotys a month,

1

net may be only slightly higher worles work for a shirt, cost- a year in 300 zlotys: over a fortnight than the $1.27

carned

inonths for a suit, 2.500

ago but looks for improvement for a pair of shoes, G00 złoty later on the basis of the con-2 pany's exparkling earnings buse.

for

Harris, Upham & Co. locks net of 53.85 a share felt Bucyrus-Eric in 1957 against $3.05 in 1956 and anticipates better than $4.50 by 1958.... Colliorni Packing 1957 nct in projected to $a from $5.67 previous Ascal your.

E. F. Hutton & Co.'s analysis

of US Steel, estimates 1957 net

as high as $7.50 or better against $0.01 in 1936.

PAMPHLET

نہ میں

Diminick & Dominick in an illustrated pamphlet on Union Carbide, says the company's Burch, construction, and ganisation plans give it opportunity of maintaining an annual 10 per cent rate of growth and triple net sales and proit by 1907.

te

zlolys. A pretty average dress

for Ja wife costs hatt month's work, 500 złotys.

Making Money

A

A month's food costs the whole 1,000 złotys, anyway. There are other

Ways making money, Poles

exiled

Rope SPORES, I Daley Watien -18 11:0 COTIONS Texti

..4.00 42 Nanyang MISCELLAN Ch Pub, 175 Vibru.90. INVESTMEN Allie

17/N): 20.30 1500 x 28.40

126.40

200 or 3215

Робука ка 0.05

4

....00 4.75

STANLESS

STEL PRUESS

annac

11

new

im-

MiddletonDhb. Jude 20.

Armeo cal Corporation has patented peas for proving hove ability and increasingall yields of stainless sa

As a resuot dies at the

in the West help by sending firm's Bullre rks, it was

Aircrafts

Standard On of Ind.

WORLD

RUBBER

MARKETS

Rex

Now York, June 20,

rubber futubda today

LAPSE INTO

DULLNESS

New York, June 26.

Cotton futures trading today lapsed into dull. ness following a short-lived period of buoyancy at the opening.

Initial gains up to $1 a bale were gradually closed off 5 to up 10 points with elitninated, although the market showed more re-

sales of 120 édtitfucts,

July

Sept.

NOV.

Jpn.

Mar.

May July

33.10 31.08.

31.30

30.99

Standard contract closed lower to 10 points higher with no sales, reported.

July

Sept

Nov.

2314

Jan.

Viar.

Μαν

32.45

32.10

31.65

31.70

31.25

50.58

Most of the terminat markel in #business was represented

switching 4724 || Intra-dealer

opera- 40tions, which accounted for 100 69 of the contracts done, Sept/Nov. were swapped at 20 contracts pointa difference with a small quanilty of Julys exchanged for physical rubber.

Southern Hallway (Com.) Standard Bronch

the

6tandard Oil of NJ,

Steep Rock (Toronto Exge,i

C3% 219

Sterling Drug Co.

Stokely-Vans Champ.

Stulebaker Packard Corp.

Aircrafts, which had ghing Tanging over a point were pared to fretional improvement.

Swift & Co.

Texas Co..

Tide Water Awm, O

Tune Inc............

Twenty Century Fox Film Union Carbide

Leading steels declined frac-Union Pacic Hallway

tionally.

United Ahemalt

United Gas Corp. U.S.

Foil B

average US. Gypsum

Ruits held a small RBÍN--.44 point to Utilities were off .33 point to 09.37.

Metals had losses or so.

116. Rubber

145.30.

US. Line Co.

V.9. Smetting

US. Steel

Warner Bros.

sistance on dips below the previous close.

Mar. May

Day trader covering and a scattered trade dethand fitmed prices again to close the 1st net 1 to 13 points higher. Opening prices were up to 20 points, New Orleans closed up 12 to 14 points.

The Jr'sL buying splurge. United Press.

for

emanating from commission houses and the trade, Was coupled with the absence of July delivery netlees, plus the rapidly dimining chances any cotton price legislation this sesion and crop uncertainties.

A lack of low through buying brought some resolling by

Some crop recent longs. students thought that the hurri- can "Audrey" first of the oes- 500 in the Cult, might bring un- nexxied rains in the threatened areas of Texas-Loulitate, but they helitved the season was too early to cause any irreparable

In the United States, the average price of one-inch cotton at 14 designatext spot markėts was unavailable.

Salts totalled 7,021 bales.-

LONDON

OILS STRONG

Market displayed firmness in Jam trading was relatively was oils.

the foreport of the day, but with the delayed arrival of Indo nesian cabled offerings, buyers 28% backed away again.

33

30%

Reported offerings included ont

at 313 ribs June/July cent: cost and freight, some 447% three

ambers werd offered at 20 1⁄4 cents and four ambers' at

41

2 20 cerits, June/July, cost and Freight, Spot No. 1 Res was 4 quoted at 32% cents. United Press.

SINGAPORE

of a point Westinghouse Electric

Western Chloe TBL Co West Va. Pulp & Paper Woolworth

Olls were narrowly irregular. Motors were slightly easier.

Of 1,182 Issues traded today 423 were bigher, 507 lower, 232 unchanged with 00 new lows set, 21 new highs.

NY Stock Exchange bond volume was $4,910,000.

Stock American

Exchange volume was 740,000 stuures,

Closing Prices

Aiden Inc. Acy Allied Chemicals Allied Millis Inc.

Allis Chalmers

American Airline

American Cable

Corps.

Radio

American Cyanumide Co Amer. Forgn. Power Am. Gas Le

Am. Macht, beca

gifts to the lock at home for sale, found thatrage of boron American Metal ... These are sold for the people added to quite curomium- Atorican Solting who receive them by hops nickel known as "konis."

Am. Sugar net. andchum-man-American Tele

olk Meatly Im-American Tab. is a magnificent proved theirt orking pro-

Arneonda Copper Armco Steel

In one I visited is

display of English commodities Dertie

perties. Laraf studies Armour ....

Ating Cena. Mining in Baldwina-diam.

Ballunere Ohio.

from soap to cigarettes, babieshowed the feet on hot woollies, toys, and even carpels ductility was marked

at prices two or three

the range 2,0% 10 2,400 Denetical Finance re-times higher than in England.

degress Fahnet

Bendix Aviation Corp. People stand and gape at the

Bengurt Cans. windows alt day. But must of them cannot afford to buy, The owner gels 80 per cent The of the price received. people who run the komis gel iwo per cent, and the govern ment eight per cent.

Glore, Foreign & Co. in a 40- page pamphlet analysis of Inter- national Harvest, says the out- Jobk for the second half of this year is defuilely brighter and desplie the poor start it is be- results Hoved the full year's

will approximate those of 1956.

Reynolds & Co. looks for $3 a share for US Freight this year against $3.60 in 1900.--United Presa.

New York Sugar Market

Now York, Juno 20.

futures World No. 4 stiger clogod today unchanged to 5 sales of 300. polits lower with contracte.

Domestic No. 8 sugar closed unchanged to 2 points higher with sales of 43 contracts,

up,

Black Market

CHICAGO GRAIN MARKET

Chicago, June 26. Most grains were irregu- lar at the close of the Board of Trade today.

but

London, June 26. One really strong section Royal Dutch TOLO 2 sterling to 22 sterling its earlier 1967 peak was 23% sterling

Shell 0,654 while

gained 209 shilling. shillings to Volume Open Interest compared with its recent

peak of 218 shillings.

remained at

quiet. Spot interest had con treats for sale at the 35,47 et line, Open July contraels today totalled 55,800 bales. The certif caled stock BRICS Mali July October December March May July October

December

Total

7,300 03.600

10,300

173,000

10.200

234,100

4200

132,300

0.100

127.400

14,400

87,000

10,200

118,000

4,300

11,700

4

British Fetroleum gained 2 shillings ℗ pence, Hudson's Bay was tho dominant figure; 1th

73,300 921,400 bales shares jumped 3 billings to-u

new high of 263 shillings.

NEW YORK

Unilever rose 1 shilling 9

Prices of cotton futures closed penee while Unilever NV gained

today as follows:

The market opened unchanged eased during the day on some further state bull avling. Towards the close the market steadied alightly on reports that

Spol July Russie demands for withdrawal October of troops in Korea..

December March In- May July

There was some factory terest and amali lower grades October enquiries from China. Futures; December

No. 1 rubber per lb. July 014-91% No. 2 rubber per lb. July 91-014 No. No. 4

"

Spot rubber unbaleu. Blanket crepe

39.1

20.90

34.97

33.14

39.73

33.76

NEW ORLEANS

1 shilling 3 pence. Borax, Tur- ner and Newell, Bowaters and several others gained a shilling.-

IDLE....

Forelgh bonds mostly Idle Dolią: slocks were mirked dowi with their premium down

Prices of cotton futures closed per cent to 7 per cent,

July

Aug. 17-2314

001-

21 07-88

today as follows:

PI-2134

Spot

03-24

by

No. 1 pale crepe..

08-100

October

LONDON

May

July

The

rubber.

market

Was

October

lead with spot market up

December

After early advances wheat, the market settled back

5 to alightly below previous closte 0621 at mid-morning,

357

Wheat futures for March and

25 May recorded new highs for the 3/10 to 27-1/10 pence. Prices: 60 season but profit-taking and No. 1 Rus spot

some Hedge selling caused a Settlement house term: ** decline.

Commission caused an advance in soybeans. | Jan/Mar.

Trade

was rather inactive General takeli, eif hasti, pos 18 until the usual mid-day" spurt,

December

March.

LIVERPOOL

31.200

35.81

Turnover at 9,779 bargains, was the lowest for two months,

33.12-15

34.30

34,10

34.19

93.77 53.75

Some of the British Govern- ment stocks Have fallen through what is called their "Sucz lowe" and are at the lowest levels seen since ita trasit of 1020.

SAO PAULO

future closinga, per kilo werd

30.80

$1.00 43.00

But the markets closed with- out the government having done in something about it.

Gills were mainly unchanged except one or two which cased 1 of 1/10th-United Press,

NAMESAKES

Answers-1 kennement, Flowers, 3 Timbre, 4 Zeal, Ball, Duslinti, 7 Pronounced, in 8 Volce, 0 Eletion, 10 Higgins, as 11 Training, 18 Palate, 13 Lady-

like, 14 Speech.

Eliza Doolittle (From Shaw's "Pigmalion").

27-273

house buying v/Dec.

Aug. Sept. July/Sept.

271-2714

Cotton future closings, pence per lb, were as follows: Uld contract July/Aug.

Oct/Nov.

Dec/Jan.

Apr.7June

Mar/Apr.

May/June

July

New contract July/Aug.

Oct/Nov.

28.75

Aur

Some foreign demand was re- ported.

Estate crepe thin Aug.

Dec./Jan.

20.00

thlek Aug.

Mar/Apr.

May/June

77.00 23.00

604

AMSTERDAM

Wheat closed (new) off

to

up cent; Soybeans closed up

4 to 2 cents.

Cat. Tractor

per kilogram,

Celaner_Corp.

155

Wheat No. 2 red

follows:

The rubber market was steady

Cotton today. Prices closed in guilders cruzeiros

July follows:

July

4.5

C. 1. T. Financial Corp. Case Manhat. Bank Chrysler Motorn

Spat

40T

July 2001) 2001(1) 210-82012

Sept,

Climax Molybdenum

Det.

of

Colgate-Palmolive Ca

Mor.

200

2127M 210 20-419%

Oct.

No. 1 rubber

2.00 doze

Dec.

No. 2 rubber.

May

Corn, No. 2, yellow

Spot

Armco salihe quantity of boron requintlo significant improvement y was ex- tremely ming

from 0.0001 to 0.8 p cent, de- pending on ETON.

The boron

Jarnicled in in vialety of urit including

oxides

ag standard neki ngene cumpany

effect mmable

With the increasing number on on ingatre, grain

of foreigners permitted into the country, t immense bisek market in currency has sprung On I, the pound fetches from four to five ilmes It offelni valuo,

Black murkeleers are offer. Ing forelig visiters lo Pozhan Fair all the

zivlyn they need in Poland if they will promise when they retum home to send, as gifts, razur bindes, elgaretten Ind other highly saleable goods blick market value złotys received,

152:

你

Bethlehem Steel Hoeing Airplate Borden (The tv. Burroughe Add Machine Campbell Soup Co. Canadian Paciße R. Camo (J. 1) Co.

Colomblan Carbon Co. Commercial Credit

content had four to date Consolidated Edison

gydl-metallic Commonwealth Elec. xep that it pear to make Continental O11 of Del. zormal

Crown Zellerbach A

more Cuban Amer. Bugar molleable.-Ca M} Special.

Diamond Alicali. Douglas Aircraft Dow Chemicals »... Dupont de Nemours

NEW YOK METAL Fan Airline

FUTRES

New tk, ne 25 Prices of me futes closed

to the follows:

today

of the

Pounds and dollars collected are, carefully hoarded. Poles are now allowed to have holidays abroad. Their zloiys are use

les outsida Poland and they cannot be re-imported,

But with "luck" pounds and dollars, Poly can buy a pas able seepnil-hand citr, drive it home, sell it and enjoy a life of comparative security for a Failure of business in the raw few years. market to come up to expecta-

The igovernment tients this week brought liquida-blind eye to the black market. tion By disappointed long. It is the stealing that worries although prebenda of trade buy the Canmunists most-Expro seg nedorit anted to cushion the service.

dodlink

Contract No. 4 (world)

Jub

Deplechtig

turns

+

a.b↑

1,03

457

$52

New York Foreign Exchange

tipotente per ib, fob Cuba) 41

Eged inbezint: 8,554 contracía, Cortened No. 6 (domenilo)

17

Berlember

0.00

November March

900

B,15

30-y DO- Aurinalle m

5.39 HOT RO

Bouth Africa

(beats" "per, fi, ele NY :Open Internet: 1,478 contragia--

'New York, June 26.

Closing rates were Decado jungand omelai

1.09-1/16

ת!

een pet lb,

Lead June an

July

Pin

Zine June

July Copper Juna

July June July

Eastinan Kesluk

21815-214%

May

July

El Ph National Gas

Sept

Family Finance Corp.

Firestone Tyre & Rubber

Qata

|Ford Motor ...

General Electric

July

Sepi

General d

0013-11 4776-1

as

General Motors

Gen, Pub, UNI

Soybeans, No. 2, yellow

Getty Ou

Spot

161in

Glidden Co.

July

Goodrich (B. F) Co.

Sept.

23417-4+ 2.3121-14

Goodyear Tyre

Nov

Jon.

23014-16

(Strait

Ünk] Press.

LONDONMI TAL PRIES

Herden Newport Corp. Homestake Mining Co. Ingersoll-Rand

Irunnd Stret Co

Interhemical Corp.

Int'l Esens hitchures Dili. Warvester International Mickel

International Paper In{7 Tel Tel John-Manville Co. Kansas C. Power & Light Kannecott Copper ..

Mar.

05! Hurley,

B1%

Бров

41

23 | Köw York Hour

104th 200 1. sack ......

104

50%

407

10011

Liggott Myeri Tyb, Co.

an

today hoed Afteraft

Loo, Jube 20. Prices of me clo follows:

sterling per long on

Tim

3-month Cupper, sput

3-montli Lend 2nd t

Zine and half

wyer

Leews Incorp, ......

Lone Star Cement Co. Events & Bone.

Sellern Donnell Aircraft

70114

Block Exre.) ..........

750 MEDE fron Corp.

Minnesota Mining

Katman Development

Momento Chemical Co. Montgomery Ward

Motorale Inc.

Unik: Beg, “A” Press

Exchange Rates

R.TD 7/32 2.78-29/31 Business was do A1/32 Unofficial

mark

7/10 Hadining at the 8.7643/18

U.B. douar (per. Fig 2.799 Sterling rate (por

Australmin noter. Un “ Indonesian rupible libu tikai (por 300 cl

London exchange rates were unavailable.-United PreOS,

Joe

Fallon Dairy Feb.

National Lead

New York Central'

Din Rathlemark

Otje Elevators

Oken-llinois Class

Pan Amerith, Allways Parariount Pete

thin Parke Davy Op.

Peniel J. C. to. Rong, salt, Co Prilip Morris

10.00

14.00 STEW

100-140/1

$13.80 United Press,

WINNIPEG PRICES

Winnipeg, June 26.

Prices of grain futures closed conta per bushel as

today in followe:

Okla

July

20

103

1976

נן

No. 3 rubber

No. 1 crepe

2:30 done 2.54 buyers 2.77 buyers

-United Pres.

Singapore

Stock Market

Singapore, Jime 27.

Brokers today

quoted following stuck prices:

Balu Lintang Rubber Co.

Ltd. Brim Bomeo Petroleum

Byndicato

Consolidated Tin malteri

On.

Fraser Neave Led On Framr & Neave 7% cunts,

__pref.

the

Opening $1,16

54/

Graporsa (Maaya) limited 140

Bokong

Beaking Corp..

Hongkong Tin Ltd.

Klamper Lid.

KUM Kante Tiri

SHANK

Lanas Rubber, patates

Malayan Breweries

........

New Berandah Rubber Co.

* La

| Prising Tin Llu.

Radion Slotai ju

Singapore Cold Storage Buaile Tradta”

#nship

United Engineers Ord.

Wearn O.

Jexdly

Special.

$17.26

12.30

PRODUCTION UP

Bona; June 20.

The Index of industrieš pros

Jučiškes in West Germany emio fo

PHOON MAP

With Latest Amendments

$500 MOUNTED

four

$43NMOUNTED

392 in May from 27 Apr South China Morning Post Ltd.

This was only five points

| Ibw. The mecord · figure of BST

reached In November, lost year,

ullars/whtat ampere No:-3; 4h18 Miflstry of Espnemide the

101 :: No. 5, 1274 cents, rounged, here. --- China Mail

Special

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