1957-07-11 — Page 9

Page

THE CHINA MAIL THURSDAY, JULY 11, 1957.

TRADE and COMMERCE SECTION

Page

UK EXTERNAL TRADING GOOD COTTONS CLOSE

But Sterling

And Dollar

Reserves Fall

By SYDNEY $. GAMPELL

London, July 10.

HONGKONG

STOCK EXCHANGE

Our Own Correspondent Busincas done on the Heng-

RAILS HIGHEST

Wall Street

FOR YEAR ON Sees Graham WALL STREET Preach.

New York, July 10. Industrial stocks pushed ahead to a level just king Stock Exchange this a shade below their all-time highs while rails turn- At a time when Britain's own external morning amounted to appro ed in an even more spectacular performance, scor- trading position seems quite good, sterling and at $037,000. Noon qulaing their best gain of the year. the dollar reserves are still suffering from the'ctions: strength of the German mark and the weakness

of the French franc and Indian rupee.

CHICAGO GRAIN MARKET

Chicago, July 10.

were mixed

+1

tions at the moralog's

Kharc

BANKS TK Pank PAUTANCES Uni Lombrid SHIFPRG Wheeluri. 7.00

DOCKS, KTC K. Whars Duck

Пyers Setters Rader

1250 170

41 100

33

715

230 17

1073 M 7.5J

14:01 1

15:20 434

109434

12.70

15 30 40

3000 15,10 1045 76 2925.15

Ron

1.45

Prident 10, LAND, KTC. Hotel ..

On

construction, fur Britain appear: to have had a surplus of $32 million in Ajrli followed by deles of $39 miffion aplece in May and June.

No doubt, thir is better than Japan's rent parfotrannce but for the seasonally good time of The year It is Door irend, However,

Indian drain should tesrun

India 10K

imposed

Itrally virtunt

RUBBER atineratorlum OUT new import Analg.

has decided to UTILITIES licences and irim and steelch out her

Fram Yout costly development plan.

Grains the close of the Board of Trade today.

The market opened lover but prices becaune irregular at mid- day, Pelers rangcil from steady to weak al the close.

Hedging pressure kept whent prices low In a fairly active sion. However, activity was

not be grout as curlier as two cents a .trading.

bushel in the day's

Forelan demani was quiet. Old contract of wheat closed up to cent; new contract clored unchanged to up 3 cent.

Soybeans closed of

to

cent,

Prices per bushel in cents: Wheat No. 2, red

Spol

July 214

Sept.

Dec.

Mar.

210

22 214'

2103%

May

Corn, No. 2, yellow

Spot

July

Sept

Dee.

Mar.

Alay

Rye

July

Sept

ORIA

July

Sept.

Seyhrar", No. 2, yellow

Spot

PADIN

Sept.

Nov.

Jan.

Mar.

Burley

Spot

New York flour

200 lb.

sekt

131

E

19)

2-127

238-

210

130-140

$1350

WINNIPEG PRICES

Whnipeg, July 10. Prices of grain futures closed today in cents per ahel us follow::

70

719

هران

Osta

July

Rye

July

133!4

Ocl.

Dec.

Barley

July

Dec.

Flaxseed

July

Del.

Dec.

The

now that

5)

Windfalla

The rise of $248 million Brink's half-year is

In Land..

Inement

Rope

In what was seen as confirmation of the indus- trial rise, rails scored individual gains ranging to | nearly 5 points.

The rise itted the rail aver-Radle Corporation age 2.50 points, its widest gata Rebite Steel since Dec. 13, to 152.42, best sours, Roebuck & C level since last Jan. 17.

Reynolds Metal

Shell Oil Co..... Noint Res. Paper

The gain in Industrials, paved Sinclair On by steel shares, chemicals and Meblio Solor Aircraft pharmaceuticals anti miscel-Seth Puerta fited Sugar Janeous specialties, lifted their Southern Co. (Ther average 3.44 points to 518.81. Sixthern National G 200 4343 ts best level since last Aug. 3 Standard Brands Southern Hallway 33.75 und only 1.24 points below the Ell-time high of 521.05 get on April 6, 1950.

1.17, 1000

1.50 1.500 20000 13,

23.10 29.20

reserves in the Arst STORES, ETC.,

more than wholly Dairy due to various windfalls, Watson Obviously, there

been COTIONS

הון

little, if any, covering

tndard Oil of Cul. Standard Oil of Ind.

Standard Oil of NJ.

Steep Rock (Torento Zane. Sterling Drug Co.

declined, dip-tukety-Van Camp.

so any appearing on the tave 573 were 247 un- higher. 384 lower, changed with 59 new highs set and 27 new lows.

Sturlebøker-Packant Corp. Bwilt & Co.

Texan, Co.

Tide Water Aren, Oil Tiniu Ing.......

U.6. Fall "D"

U.S. Gypsum

U. 9. Line Co,.

U.S. Rubber

V.9. Emelting

375%

27

CẦN

4.

17

31*%

New York, July 10. A crowd of nearly 10,000 sirong

gathered in Wall Street today

hear to Evangelist Filly Graham launch an appeal for moral revolution in the American business world.

A

Hundreds more listened to Graham from windows of the huge Morgan Bank and Stack Exelange and

buildings other

in the vicinity.

Graham told them that the United States needed no more alomle weapons, not a stronger army, only a sirenger falth in God.— France-Presse.

WORLD RUBBER MARKETS

ON STEADY

UNDERTONE

New York, July 10.

Cotton futures moved irregularly throughout most of the day but finished with a steady under- tone. Trading was quiet.

At the close, the list ruled two to eight points higher. The market opened 8 points higher to 13 lower. New Orleans closed 7 to 23 points higher with nearby July recording the biggest gain.

1058

deliveries

Distant declined as much as 13 points in carly dealings on selling which reflected House approval yester day of a tightened-up soil bank programme.

LONDON

[1

STOCKS

LOWER

Market men believe that provision in the miting payments to any one faltner at

would 2,000

weaken the effectiveness of the programme rext year.

The earlier losses were all re- covered later in the session on i scattered New Orleans buying.

London, July 10. Stocks closed irregularly Other deliveries Armed on lower today in trading technical adjustments following that featured scattered

July, which expires next Mon-

Nearby gains in British Govern-

yesterday's cnsbless

day, contluued

evening-up operations.

onment bond.. steady

In

British

carly dealings Certlicated cotton stocks held Governments advanced a bit unchanged at 8.821 bales, but the recovery mustered little support and gains were elther reduced or erased at the close.

Mouth July

New York, July 10. Rex rubber contract closed Oct.

300 13,000

147,700

Copper, lead and zinc iuca declined reflecting the lower trend in metal prices.

Selective strength enlivened en

over-

103 161 7634103 e. Light 40. 16.60 18.70 2010 16.80 Bleetit.

2D IN 20.90 200 20.00 ME 10.29 Telephone. 27.70 27.90

210 27.80 270

INDUSTRIALS

12.60 13.50

.... 14.

Ulities alone ping .15 to 71.30, reflecting numerous small losses.

Volume pleited 610

Lip advance

gathered 1000 with total turnover of 2,880,000 shares 430,000 shares ahead of Tucsday.

of

fas momentum

the

Twenty Century Fox Film.. Union Carbide......

Volume Open intarest

Union Facilo Railway

2435 204

&,000

United Aircraft

United Gas Corp.

oat today unchanged to 10 points 347% lower with sales of 113

Det.

12,400

225,000

5.800 144,500

total a

1.204

istues

facts.

0315

con-May July Def.

3,000

13.co

0,700

311,400

14,300

120,000

11.40 11.20 30%

42

401

July

Des

2,500

20,200

Sept.

22.70

Toil

4.35 4,39

7136

New.

32.45

231

Jan.

32.30

し

Mor.

947,800 bales otherwise quiet and easier Tut

British Ford improved on ports that the company

wil

100%

443

May

431

July

The standard contract closerl

Spot

unchanged to 10 points lower with no sales reported.

July

Ort

Dec.

Mar

July

May

Sept.

July

Nav

Oct.

1319

Jon.

Ure.

13.07

MAT

MAY

NEW ORLEANS

of the Textile XD

big sterling hear position which Nanyang 8.30

existed last December.

However, as the beur

Lover-

is still to come, as the worst of the Indian. French and oll strains has already been taken, the reserves which foll during the casy half-yap might rise during the normally dimeült second half.

Germany's

imuninent rlebt pre-payment of £75 million to the Bank of England will come I bandy-China Mail Special.

45 1.00 1230 2455

MISCELLANEOUS VIDIO

..... 15.00 Allied 1.K. & P.E.

Invest.

16.30

Exchange Rates

Telness was done in the loen Udal exchange insukat this morning at the following rates: US. dollar per $19 Sterling notes (per 41) Australian notes (per E1) Indonesian rupiah (per 100)

Slain tieni (per 100) Singapore Straits!

Buffer Stock

Manager Can

New York Stock Exchange bond volume was $4,283,000.

American Stock Exchange vlrime was 1,170,000 shares,

Dow-Jones closing averages were:

30 industrial 4.03

20 rails 10.40 15 utilities

$10.81

182,42

71.50

12.44

15 stocks

179.40

14,50

40 bonb

20.00

Comm. tulurc

slure price index

101.34

1.80

Absorb Surplus

London, July 10.

Closing Prices

Atuen Inc. Acy.

Allied Chemicals

Allis Chalmers

Anterican Airline

An. Cable & Radio Corp.

American Cyanamlite Co.

Am. & Forgn. Power

Am. Cras & Electric Am. Mach. & Edry, American Metal American Smelline Am. Sugar Ref. American Tel & Tel Americun Tob. "I" Anuconda Copper Armen Strel Armour

17

U.S. Steel

Warner Bros

Wealinghouse Electric

West Vn. Pulp & Paper

Woolworth

United Press.

CHATTER

ON WALL

STREET

New York, July 10. Selectivity continues to 201 be the dominant char

acteristic of any near-term advance, according to E.F. 42 Hutton & Co.

July

BRKERES

3388228

35.50m 35.83

re-

51,300 NEW YORK

Prices of cotton tulures closed | shortly reselve a $980,000 order today as follows:

34.01 31.03-01

Prices of collon futures closed

from Czechoslovakia,

Borax and Hudsong Bay jezucs were Ann. Ou shores were firm with active, trading in Burma and Canadian Eagle.

Dollar stocks were mixed United Press.

3170

31.00

C

today as follows:

Spot

July

Oct.

Dec.

Mar.

May

July

Ocl

Dec.

Futures prices steadied on combination of dealer buying and eng. There was not much rubher offered of consumer in- forest. Spet No. I itss was quoted' nt 33% ecals.

SINGAPORE

The market opened higher on ' overnight advlees und, Liter overseas inquiry,

34.92

33.00

Whorevor

you're going...

$4.00

.48

34.01

31.80

31.03

3402

34.12

33.80-90 33,06

EUROPE

LIVERPOOL

Cotton future closings, in

There was a fair demand inpence per 1b, were as follows: lower grades with sellers int contret elled to be reserved. There was some factory inquiry too. Futures:

investment Advisory No. 1 rubber per tu. July 9315-32 13 Service lists seven slocks with No. 2 rubber per R. July 911-05 5415 electric

USA

20.07

20,81

27.15

ORIENT

201

Bach & Co.

30%

170

73%

notes a better tone shown by rails is a very encouraging

Judy/Aug

Cet./Nov.

factor particularly

Doc/Fan

BUR

from a technical viewpolul,

Mar/Apr.

B07

May/June

15%

Poors

New Contract

17

Aug. 0351-031

July/Aug.

Oct/Nov.

181

53

13

3012

ยา

Electric System, Hockland No. 4 Light

Spot rubber unbaled And

Lower, South- Blanket crepe wcalern Public Service, Union No. 1 pals crepe.... Electric Co.. and United Corp.

4

"

92-4215

Ded./Jan.

9115-92

Mar/Apr.

13-93%

May/June

03-65

100-13

available today-United Press.

LONDON

Burrough Add Machine

33

Reynolds & Co.

says Briggs

Allan Conn. Mining Baldwin-Luna-Itam. Rallimore & Ohio Beneficial Finance

Bendix Aviation Corp,

Benguel Cons

Rehen Steel

Boeing Airplane

Borden (The) Co.

Compbell Soup Co. Canadian Pacific It.

Four points need examining when discussing the tin market, writes A. Strauss & Company Limited in the July issue of its monthly bulletin.

Undve the heading "Will Tin, In the case of the British re- Stability Lat" the review raya kave the required six months' | Case 13. 1) Co. the first point in the operation notice is already well past. The Cat Tractor

Celanese of the Buffer stocks.

fer is forming that perhaps the c. 1. 1. Financul Corp.

Corp. offer of this official tin may be Chain Manhat. Dank Secondly, seasonal influences postponed for a while, especial- Chrysler Motors ..... may sway prices a little duringly in view of the present level the nutumIL

of the market.

RUNS OUT

Thirdly, the enle of official stocks by both the British and Canadian governmente could

The Canadian release of 3,000 ecome Importunit, and

tona cannot be sold before the import Fourthly,

cuts in middle of December when several countries running into statutory six months' notice runs 1171-115 balance of payments dificulties out. The question is whether might well reduce the marginal the Canadian authorities are demand for the metal.

155-150

רכנן

258

39511

CAPACITY

considering seriously releases towards the

the

Colgate-Palmolive Co. Chinax Molybdenum Columbian Carbon Co. Cummeretal Credit Commonwealth Elec. Consolidated Edison Continental on at Bel

Crows Zellerbach.. Cuban. Amer. Sugar Dimond Alkal Douglas

Alretuft Dow Chemienia ..... Pu A

Eastern Arling

Eartinan Kodak

regulur

El Paso National Gra Family Financo Corp. turn Firestone Tyre & Rubber

the year, or whether they are merely giving themselves room manoeuvre should they It is especially important to for know the buying capacity of f need it.-Chinga Mall Special, Contidian wheat export No. 3, tho Buffer Stock

Manager, 151 cents: No. 5, 127 cents.

Stranes.continuts. It has been -United Press.

generally assumed that he can absorb up to 15,000 fons. in pre-i Echt conditions. But this was based on the original floor prica; of 2040 ton.

Singapore Stock Market

LONDON METAL PRICES

London, July 10, Prices of metal fatures closed

Dosing the estimate on the today la sterling per long fon current floor price of £730 and į as follows: on the £9,000,000 which ho postesses, it seems clear that his Tin spot present capaelly may be lailted : 3-month to just over 13.000 fone.

Cupper spot 3-month

Singapore, July 11. Brokeru today, quoted the

At the present spot price of Lead at half following stock prices;

Opening around £760 it would work out

Zind at half Batu Lintang Rubber

_500. British

Syndicate Conentidesed

Co.

$2.15 Petroleuni

06/dd* Tin Sellers Ord

30/04 Fraser à Neave Lid. Ord. $2.70 Framy & Weave 7.4% ctim,

prof.

64.03

Gammons (Malaya) Limited Hongkongk Shanghai

Epikte Corp.

Hongkong Tin Lull,

at nearer 12,500 tons.

If in surplus continuça even after this, sufficient to necessitate tho Tin Counel im- posing restrictions

Ford Motor .... General Electric General Foods

General Motors

Ges. Pab, til,

Gelly Oll

Glidden Co.

Goodrich (B. F.) Co. Goodyear TYTO Gulf Oil....... Heyden Newport Corp. Bonestake Mining Co. Ingersoll-Rand

Inland Steel Ca... Interchemical Corp.

18th Biness Machines Int Harvester

International Nickel

International Paper

Int'l Tal & Te

Seller John-Manville Co.

Lowenstein & Bons.

Stock Exge.

Mental Irun Corp.

Minnesota Mining

70

light, New England No. 3

The rubber market waa

Sao Paulo quotations were un

& Stratton earnings this your quietly steady with spet quoted BANK RATE

should equal or exceed the 40 at 274 pence per lb.

cleared in 1057

.Standard

Brands should report higher No. 1 Ras spot .......... carnings this year than the 3.48

Easiman Kodak

make

Priers:

**........ 211-273 Sellement house termi

27-374

RAISED

Stockholm, July 10.

AUR. of 1950

Bugt may

a bid for л Oct./Dea, share of the growing magnetle | Jean

Apr/June

The Swedish Bank Rate was tape market. United Press. General markets, ef basis, ports: today raised from four to Ave

July

27-274

per cent. The New Bank Rate 2733-2714 Sept.

279-271 | operies from July 11, Esiste crepe thin July...

The lost increase in the rate thick July ... 3116

took place in November when United Preas.

It rose to four per ent from 334 per cent,

New York Sugar Market

New York, July 10. World

No: 4 sugar fu- tures closed unchanged to

12 points lower with sales

10 of 1,097 contracts,

34

7814

Aus.

30

Bank Mcials' cald the lalost

London Foreign measure was intended to check

Exchange

London, July 10. Closing rates were:

New York

Montical

Anısterdam

Brunel

Domestic No. 6 sugar futures Copenhagen

Frankfurt

43 closed unchanged with sales of Libe

23 ccntracts.

Milon Oslo World futures were down as Paris much as 18 points at one time vlera

Stockholm

on word that Brazil is offering Zurich sugar to Europe at pricee well

14 under the Cuban naking price.

Dullness

2.70 1/10-2.7044 2.6324-2.65 139/18

1984-10.0474

140.18-140.171

10,3431-10.349

1109-1160%

DG.SU-80.15

1730-1739 10.0335-19087% 98072-0011 14.473-14.473 72.31-73.36

13.3016-12-104

---Unked Prcad

in domestic raws New York Foreign

earried over into Futures where

Exchange

Buyers

702

·

753

Emas G. Power & Light

Kemeccat Copper

2102

ZID

211

Liggott Meyers Tob. Co.

Locktited. Asterart

01

Loews Incorp

10%

TGT

ons Btar Cement Co.

741

20%

-United Press.

McDonnell Aircraft

(Am.

prices held stendy.

31%

43% Contract No, (world)

强

0.87-80

Montgomery Ward

41% Oulobet

BAR

Joetry

4.80

Motorola Ind.

National Cash Beg "A"

Maruh

4.50

May

4.45

New Zealand

National Dairy Prod. National Lead National Steel Corp.

Juty

4.45

124/

Reptember

4.45

100 Na

703%

October

4.43

Spot-[cents per lb. fub

Cube)

AMIL.

·Open Intereri: 7,914 cóntiraola.

Blasio Developmen!

en produc- NEW YORK METAL Monato Chemical Co.

FUTURES

Hour, then the Buffer Stock can take up another 10,000 to: Sot 13.52aguinst the Council's prellgled nurplus of 5,000 to 10.000 tons

New York, July, 10, for the full year 1957, the Buffr

Prices of metal futures closed Slook Manager's absorptive today in

conts per' lb. capacity is plainly ample, follows:

Lunar Itubber Zutatos Lid, 0.62.

13 York Centrafi

Mathieson

Ou Elevators

Chweninos Clone

Ducille Dan de Elec.

F American Airwaya

103

6/34

Kampas Lad.......

12:00

Kuala Lumpur Tin

41234

Malayan Breweries

New Berkudah. Hlubber Co.

LAG,

12.40

$2479

Strauss says.

Lond July

Posting Thy Ltd.

Basica Lotel

$2.40

ly asked in the market les when

The question now being wide-zine

AUK

13256 13.106

July

9.00

AUX

1.205

Sizgapore Gold storage

14.20

fitralia Tradin

до

Bouncy A

United Chandra Ord.

$17.40.

Weare Bros.

kokpilte for sale on the mar

the announced Intentions of the Copper July British and Canadian govern Tin monte to offer part.

of their

Aux

July

2005 (standarts

Alex

July

xdly

Ma

ket will be put into operation,

AUT

-Vislied Preus. J' Pure Oil

Protermount Piztiaren

Pakke Davla Co.

Forny 3. C. co....... Penn, Balt

Pepper & Carable Goy Pallavargh_17inte Glass Publicker Industriou

30%

September

Contact No. 6 (domtalie)

Sepberaber

November

New York, July 10. Closing rates were: Canada*****

England quite501,

U0-days

South Africa

Others unelienged,

1,03

2,70016

3.78%

2.791%

261

United Press.

NAMESAKES

WILE

inflation, By offering higher rates of interest to inves.org, li |

hoped

to r.Jiuce the! nation's consumption of goods and Increase savings, China Mall Special.

ROUND

THE

WORLD

You can fly there on the world's most oxperienced alrilno For reservations,

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

PAN AMERICAN

Van Annica Vald Airways, lat, Fucorporated in she lean of Hai Tork, 0.86, with tinteák kabiliy

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Call and inspect our samples

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Juggle, 0 ́Alfabky † Pam, `Q

0.01

100

{vateta' poz. 3tr, vir NY Oor interest: 2013

.8.15

conci

100

bailer).

Movements, Scotland.

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