1957-07-17 — Page 9

THE CHINA MAIL, WEDNESDAY, JULY 17, 1957.

TRADE and COMMERCE SECTION

WARNING OF JAPAN TRADE DANGER ADVANCE BROUGHT

Pact Threat To Australian Industries

Canberra, July 16.

The President of the Associated Woollen and Textile Manufacturers of Australia, Mr H. W. Adcock, said here tonight that dangers threatened Australian industries because of the new trade agreement with Japan.

1

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

COTTON FUTURES

STEADY IN NEW YORK ·

New York, July 16.

Cotton futures steadied in quiet trading to- day following two sessions in sharp declines.

Nearby deliveries registered the best gains on Business done on the Hong trade demand, while the far-off months improved

kong Stock Exchange this ning umounted to др

$314,000. Noon proximately quotations and the morning's fransactions:

Stierew

Balce Buyers Bollers

IIK Bank

10 1740

statement,ANKA These dangers, he added in were "due to the Government's overpowering desire to sell grain to Japan.”

GIVE IT

A FAIR TRIAL

-Says Newspaper

Melbourne, July 17. THE Melbourne Age to- day urged that Aus- tralia's new trade pact with Japan should be given a fair trial.

Noting that some sections of the local manufacturing inclina- try sad the British txille in dustry saw the pact as an "open abor for Japanese exports and buteved it was certain to place important scelors

sl

CEDIDINY

copardy, the Age said these apletons could not be ignored. It added, however, now that Australia's rezdjustmen! Srade relations with Japan had "we should be been accepleg

how it prepared to wall and

Sc work out."

Is

It is worth noting that the manufacturers pokesman, who urges a fair trial for the pael, represents un industry which In the past has been possibly most vulnerable to Japatiese competi- flon."

Hs organisation did not as erpt the Government's state- ment that because Japan bought Australian wool Australia must buy more Japanese goods.

36 1745

1740 1740

INSURANCES

-

Union

$31,

Lombard

3714

SHIPPING

-7.03 7.90

108

500 7.00

Wheelock

DOCKS, ETC.

K. What .. Dock

P'videos JO LAND, ETC. HK Hotel.. HK Lend Fealty BURBER

"We believe the world donard for wool is equal to world pro- duellen, and if Japan did nui

oi buy one bale

Australian Amalk wool, other countries combined our total would still purchase clip." he said.

Pressure

Trust

1140 12.10

6.10 10.10 331 332

14D

1.471; 1.3219

1230 1326

UTILITIES

Fram

..... 23.50 Star Ferry..

24 130

Yaumati

103

C. Dgh! (0) 14.30 – 18.30

tris) 12.00

Electric

ཚ་ ་

22. 29.04

19.30 1012

Mneno

Telophone 1.80 27.99

...

As a result of this policy the Government would be under

mit never ending cement

INDUSTRIALS increasing pressure 10 allow more und Rope more Japanese imports under STORES, ETC. threat of Japan.

buying wool Dairy el where, he declared.

"The only means by which the Government can hope to prevent Japanese Imports from crippling focal industries is to allow into this country only goods which not in ready supply from manufacturers here and then only in controlled quantities,"

ore

Mr Adcock rald he strongly Government's challenged the statement during the last session of Parliament that its refusal to increase duties on importeri wool textiles had been taken in the overall national interest,

Lower Rates

He said the duty rates now in

.....

B00 + 3315

BRR

on short covering.

WORLD RUBBER MARKETS

ход

New York, July 16, rubber futures today closed 5 points to 10 points lower with sales of 70 contructs.

33,18 *2.60 32.60

July

September

November

Joctuary

March

Miny July

22,40

33.30

52.30

31.35

The standard contract closed 5 points higher to 10 points lower.

July

September November January

March

1300

3215

MGY July

230 14.70 730*14.70

405 1000 4%

1000

14.70 14.00

Watson 11.30 COTTONS

4.53 Texillo XD Nanyang AISCELLANEOUS 0.15 Entert

19.40 Vibro

15.20 INVESTMENTS Allied

E. & EE. Invest. 10.10

414 4.60*

New Rhodesian

Trade Regulations

Salisbury, July 16.

Demand picked up near the close and must deliveries closed on their highest levels for the day. The list finished 13 to 32 points higher. It opened 8 to 10 higher. New Orleans closed 11 10 10 higher,

Trading fell of considerably from recent sessions as traders were inclined to awelt further developments in farm legista- tiun.

Thoughts among market men are that support on the final loun will range between 80-03 per cent of parity, us against the Interim loan rate of 71 per ccat.

but

The weekly weather report was considered favourable had little if any effect on the market,

INCREASE OF DUTCH BANK RATES

Amsterdam, July 16. The Netherlands Centrał Bank today announced an Imus:diate incréase of ' £hab bank rate by 0.5 per ceni,

Discount rules are now! for drafia 44 per cent; for promissory noles 43⁄41⁄2 pier

ceni: for tuanis #ad advatices on security for private clients $34) for all others 434.

Last Ume the bank rafo was raised, was on Octo- ber 22, 1956. Then also the increase

per WAS 0.5 cent--United Press,

CHICAGO GRAIN MARKET

Chicago, July 16, All grains, except at were mostly higher at the close of the Board of Trade today,

Soybeans showed gains of Volume Open interest more than ten een!s a bushel

5.000 23,200

during the day's trading while 0,800

wheat and rye showed rises of more than oño ent. Oals were down by more than a cent in the

UP SHORT OF ALL-TIME HIGH

New York, July 18.

The stock market advance once again was brought up short of a new all-time high as traders appeared unwilling to extend commitments with- out fresh incentive of some sort.

The market in a firm, active opening promised

a resumption of the advance in progress over the past several weeks. Early gains ranged upward to 9 points in Du Pont. The industrial average

climbed within a point of its all-time high set in April, 1956.

Dow Chemlasis

But there was

not, Crown Zetterbach just

Cuban Amer. Augar though push behind the move Diamond Alkall to lift the overage through the Douglas Aircraft barrier which has slymied the rise so often in recent sessions. To many traders caution and profit-taking seemed the wise

course.

Seen as a bright spot, how ever, was the steadiness in rails which, alone of the major groups, managed a gain in the

There were rises avtrüge. around a polna in Illinois Cen trel, Louisville & Nashville and Worfolk & Western. New York Central held point of a large rise scored when directora ordered a dividend in shares of Reading Co.

Strong Spots

Aircrafts were strong spots Through much of the session buf only Curtiss-Wright heid :

157,400 balen early trading.

The market opened irregular | goin of any alze, inishing uỷ but most grains showed "ad- nearly 2 points in reftcelinit of yances al mid-morning.

33.15

31.20

Month

32,00

32.00

July

December

237.400

32.00

32.43

March

145.400

Miny

11,500

136,000

31.08

July October

20,300

114,000

34.800

110,700

December

10:00

23,100

Total

141.000

NEW YORK

Prices of cotton futures clored today ng follows:

33.650

October

34.00

December March May July October December

34.30

34.83

34.00

Futurea priets turned easier In early dealings in line with lower London

.but cables, steadied inter on a laɛk cheap offerings. There

small

the dealer buying reported in physlent market. Spot No 1 Rss Was

at 33 cents o quoted pound.

Wis

SINGAPORE

The market opened better on overseas advices but higher prices attracted profil-lakers and the market eased.

There were fairly large pffer. Ings of nearby one sheet and sono factory interest.

1048

NEW ORLEANS

news about its new "quiet" jel

Wheat prices advanced with Engine. United Alrcraft closed e news reports from the mid-with n loss of close to a point. die East and reports of prospec-

Du Pont, up 1 points at its live our business.

July

and September

con- tracts in soybeans showed Inde 34.30-31 pendent strength with the rest

of the "controots about steady. Oats declined because of private cup report that estimated

23.47 23.01

Prices of cotton futures closed Fitures today as follows:

No. 1 rubber per lb. Aug. 23-031 Spot

Despite the less favour-No. 2 rubber per ib. Aug. 9214-9313 March force were lower than those able position of the Rhodeo,

The Age rald manufacturera operati could forestall any Bofforis, 1047. either by secking the ais Tarik Beard or impressing the

the

powers.

"Bu unit dangers arise the new pact should be rewardeŋ ut an Important experiment from which much could be gained" the newspaper said.-Reuter,

1400-63

Oct.

Sept 141-44

imguoted

October

3

021-925

**

Spot rubber unbaled ...

No. 1 pole crepe ......

LONDON

377-03), 03-55 101-103

December

May July October

December

LIVERPOOL ·

between 1032 and sian Federation's balance of Blanket crepe ..........

payments new import con-

Federal

In the meantime, increases introl regulations for the Government with the need to wage levels in Australia out period ending December 31

most other

The rubber market was dull St emergency tariff stripped increaseY

countries,

this year would show that with spot quoted at 27 5/16

Prices: steps had been taken in "the pence per lb. ni Aur direction of liberalisation".

No. Bre spot Settlement hcg term: Stating tiils the

AVE. Bent. Ministry of Commerce and In-

Oct./Dec. sustry said regulations to be Issued shortly will mean thal motor cars from CEFC counttles General markets, clf basir, poris

July will no longer be subject fo quala or to any limitation on maximum fob value allowedt. These will be transferred to open general import licence as with all other foods now restricted from OEEC countries.

WEAVERS GET INCREASE

ers

Manchester, July 15. A five per cent wage in- crease for 245,000 work- in the spinning and weaving sections of the British cotton industry was agreed at joint nego- tiations here today.

und a half per cent,

The Government's decision dealt a "bony blow" talion living standardy,

"Hits refusal to adopt the Tarif Boni's recommendation in this cas Indicates the Gov- ernment's policy generally, few Australian Industries can view the future with confidence," Me Artcock sald.--Neuter,

LONDON HAS SOME TEPID

BUYING

London, July 16. Employers estimated it would

The stock market was cost them between £4 million and £5 million a year.

dull, uninterested. British Leaders of nine trade unions Governments suffered an- had sought an increase of seven other fall at the opening but The increase awarded gives a little tepid buying lified man an gotra 10%. 3d a week some of them off the and women 6s. Gd-Reuter.

bottom, notably War Loan

received fresh selling.

Olu

UK Exports To America

1

Consoly closed changed but War Loan last 5/18 to 057% sterling, historically another new low, several others lpst sterling.

DOLLAR GOODS

As regards dollar countries quotas for wheat, plece goods for clothing manufacturers, stoves and washing machines remained unchanged but certain Items have been added to a

Jan/51nr. Apr./June

Aug. Sept Estate crepe thin July thick

3C

33.95

J4,83 34.03

Cotton futures closings, pence per lb. were as follows:

Old contract

July/August

October/November

December/January

March/April May/June New contract

211

a bigger yield than had been

$xpected.

General trading considerably lighter than in recent sessions,

Foreign trade was slow, Grains at outside markets were mostly higher,

Wheat closed up 11⁄21⁄2 oft etat for old and up 15% to off * cents for new.

Soybeans closed up 2% to oft 11⁄2 crafa.

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

21014-21744 July 2105(10) 2015/L) 218-1

2171 221-2201 217-217

26.80

273-2

28.42

22314

20.57

Carti, No. 2, yellow

2746-211

20.02

27-271 2718-2724 27-47 279-279

36.75

May/June

20.22

1304

July/August

20.04

October/November

.13.15

December/January

March April

2731-2724

May/June

13412 135+

uniquel

KARACHI

07:5

AMSTERDAM

The market was easy today Soybeans, No. 2, yellow due to offerings of new crop Prices in rupees per maund as follows:

4 Sind roller gin

10/4

24716 2471-247 243-21411 ZALIL 24516-44 24315-319

200F Sind rollar en

70/19

2.01

04/4

130-140

2.50

280F Punjab roller ghi

2 д

saw gin

B3/12

WIE New York Hour

"

United Press.

$13.50 United Press.

B40 PAULO

WINNIPEG

The market was quiet today. Prief's closed in mulders per kilogram, eid Angus as follows: 1.63 buyers

No. 1 rubber No. 7 rubber No. 3 rubber No. 1 crepe

ilst of dollar goods under open NEW YORK METAL

general Hecnec.

FUTURES

These include locks, of all kinds, cigarettes and many- factured tobacco, diamonds in

New York, July 10. the rough and precious stones, Prices of metals futures closed ports goods, gramophone today in cents per lb, as follows; records, and fruit juices.

13.10 American type motor vehicles Lead July assembled in the Union of South zine

August July Africa

August

Closing futures prices were unavallable.

Winnipeg, July 10.

Prices of grain futures closed

Dupont de Nemours Eltern Airline

Earlinan Kodak

El Fado National Gen Family Finance Corp. Posetina Tyre & Rubber Ford Motor

Gentem Electric

General Motors Gen. Pub. UM. Claden Ca

Gener Foods

Good teh (E.) Co. Goodyear Tyre Gulf O Heydon Newport Corp.

Lane Co Inland Steel Co.

Ingersoll-Rand

trhemical Corp. Jeff Bushers Machiner Int'l Horventer International Nickel International Paper Inti Tel' | Tel. Jean-Monvitic

Kanas C. Power & Light Kennecott Copper Liggett Mayers Tab. Co Lockheed Aircraft

Loewn theory... | Lone Star Cement Co.

Bowensiela Soria,

McDonnell Aircraft

Stock Exps)

|

Mesabi Iron Comp.

Minnesota Mining

Mixtion Development

Monsanto Chemical Co.

Malgomery Ward

Motorola Ine.

Nations Dairy Prod. Pritional Cast Reg. "A best, had a net loss of i3⁄41⁄2 pointą į National LEAG on the day. Profit-taking hit at keng Steel, Fester Wheeler, Minneapolis Honeywell, Transur & Williams, Johnson & Johnson, Newmont Mininu. Americani Cyanamid,

American Home Products National Cylinder Gus, International Salt, off a point to 3 points.

New York Cantral National Steel Corp. On Malekční quis Elevators Owen-Illinois Clam Pacific Gas & Elec. Pan American Airways Paramount Pictures Parke Davin Co. Penny J. C. Co, Pean. Salt Co.

Philip Morris.

Pätsburgh Plate Glas Procter & Gamble Co.

Metals were hurd all, Inter-Publicker Industries national Nickel and American Pure Ol...... Smelting dropped around 2 Radio Corporation

Republic Sicel while National Lend off close to

Reynolds Metal 3. In oils, high, priced Superior of California fell 35 points to $1,895. Socony Mobil and Getty fost a point or more.

Motors were actively traded. Chrysler, of %, was the most active. Ford, up 1⁄2 point, and General Motors, lower were among the top ten.

Stood Out

Shares of El Paso Natural Gas stood out in utilities with losses of over 2 points.

Measured by the averages, Industrials were down 2,74 points at 517.42, rails up 86 153,46, tities of 41 at 71.23 nod 65 stocks off .59 at 170.23.

Or 1,182 issues traded, 378 were higher, 545 lower 250 - changed with 40 at new tops and 35 setting new lewe.

Volume of 2,510,000 shares 2,480,000 ort compared with Monday.

American Stock Exchange

volume 1,000,000,

Bond volume was $3,550,000,

Dow-Jones closing averages

13 tes

In the United States, the today in cents per bushel as average price of one-inch cotton follows: at 14 designated spot markets was not available.

Ju!

7016

were:

Det.

7112

13.00

៣. និង

9.030

77,100

Total sales at thees 13 mar- Rye cots: 730,000 balès. -- United Guy Press.

Dec.

091

50 industrials

20 rais

113

1181-11812

03 ccks

DIC

10 bonds

August

27.60%

August

14.000

Barley July

October

£3.000

+

29,251, + July Celpber

$15.00 (standard): (STalt)-United

Fresn.

10

will no longer cost Federation dollars and these Copper July will be placed on open general rin Hecnee. The quote of dollars Axed for direct import of

vehicles dolier

from North America is based on actual ex penditure incurred by importers during the period January June this year. The stalement Industrials moved p

and says no changes are contem- down a few pence. Department plated regarding countries not stores and chain stores were included in the OEEC group or more active with Woolworths up dollar area, China Mall Special. The Board of Trade an- shilling an John Barker nounced that United King- down I shilling pence. Steel dom

to North and engineerings moved in Exchange Rates exports America amounted to £34.4 decisively.

Down

London, July 16.

million in June, which was

4

Olla

Singapore

LONDON METAL Stock Market

PRICES

London, July 16.

Singapore, July 17.

Dk. Flaxsted

pel.

12412-12013

Canadian wheat export No. 3, 15114 cenis: No. 5, 1274 cent.

United Press.

Brokers today quoted the New York Foreign

Prices of miftale closed today following stock prices; In sterling per long ton as fol lows:

Tin pot 3-mont with were irregular

was done in the loont Copper pot Busines

exchange market Dutch

this month again wanted, oficial

Lead and halt July moshing at the following rates;— tling 9. shillings while Shell

0.04 Zune and half July 11-8, dollar, (per (1)

nearly £4.6 million loss Royal than in May.

To the first half of the year Tansport gained a shilling 3 British exports to North Ameri- pance, British Petroleum fost a String notes (per £1)

shillings pence despite

#

10.41

Australian notes (per £1 Indonesian rupiah (per 100) Shopā (per 100) Singapore (Struita)

12.45

23.00

NAMESAKES

ca were 731⁄2 Der cont more than very firm opening in the corresponding period last your-excluding aliver bülllin Japanese non-assonieră of the repermunts to Ile United States 1800s and the 1910s were sold Exports to the United States and lost 1 sterling, while the In Jung totalled £10.7 miljon, 1024, last 1 starling; several which was £1.25 inflion, foa amenint cared at 14. Chincue

Answer:-7 Show, than in May.

ernal dawn stains, 3 Comedians, Exports to Cabada tololled Germans were unchanged. Värdety, & Chorus,

181⁄2 percent

£14,7 million in Juhë,' £3 mill- | Premium dor dollar socks Wire cos, Bul

Hon less than in May.Chlaa | rose

Mail Special.

to Uinted Press.

1/4

Henry Hall,

.

Exchange

upamelal

617/2

13334

11.23

172.23

Scars, Rocbuck & Co. Shell Ou Co.. Saint Reg. Paper Sinclair Oil Socony Mobi

Aircraft South Puerto Rico Sugar Bouthern Co., (Tic) Southern National Gas Southern Railway (Com.) Standard. Brands Standard Oil of Cal. Standard Oil et Ind. Standard Oll of NJ. Sterling Dr Co. Blokely-Van Chiny, Studebaker-Packard Corp. Swirl & Co. Texas Co. Tide Water Asan, Oil Twenty Century Fox Filmi Time Inc.

Corbido

Union Pacing Bailway United Aircraft United Gas Corp. U.8. Foil "B"

.8. Gypsumn

8. Line Co U.8. Rubber

.8. Smalting U.8. Steel... Warner Bros.

Westinghouse Electrie Western Union Tel, Co. Wout Vil Pulp & Paper Woolworth

-United Press.

New York Sugar Market

20.56 closed today

Comm, future price index. 151.10

1

Closing Prices

Allied Chemicals

Allied Mills doc. Allia Chalinetaj...

American Airline American Cable & Radio Corp. American Cynnamide Co, Amer. Porg Power Am. Gas & Electric Am. Mach K Fdry.

American Metat American Smelting. Anı. Bugar_Nef. American Tel & Tri American Tob. “Dh Anaconda Copper Armour

Atian Cons Mining

Te

2730 Baltimore & Ohla unchanged United Beneficial Finaron

·Elendix "Aylations Corp.

London Foreign

Buyers Bellery

748

703

21492 21314

Balu Lintang Rubber Co.

Li British Boraco Petrolquen 740

Syndicate

Opcalag 13.20

60K

217

蝦

740

Consolidated Ts Emplter

Ord. Fynder & Neave Ltd Ord, .. Trains & Neava Tii, cum.

13

$2.77(4

$4.05

New York, July 18. Closing rates were: Canada England ometal

diners

$1.003

-Valled Press.

Commons (Maisya Limited Hongkong & Shaileßaf Dank-

1.7

ing Corp. zn

Hongkong Tin Lu

Kumpar "Lid, vaakat

$

$3.00

Kuala Kampar Tin Lunas- Rubber. Klates LNG. Malayan Breweries New

*Ea. Petaling d

Seranden Jubber Co.

$3.47%

New York

Stontródi

Zurich

All

CHICAGO LARD FUTURES

Chicago, July, 10. Prices of land futures closed 2 Enter- Theatro, 5 today in cents per id, as follows: Autorice,

1.00 10.00

amen Ryte) e don Haripoo cold storaky *** "Strait #teamaālp

unked · Ragineers Örd. 42. Wakine Bros LETTER

oundly:-China: Msf: spesiät.

Exchange

London, July 18.

Der -55001 Docing Altplate. Borden (The) Co

Burrough Add Machine Campbell Bloup Co. Creadors Facin Camo (3) Co Sat Tractor

LONELIT, Winancial Corp.,

Chrysler Mo

1-18/10 | CU/01,

Columblaus

Commercial

omm

28

New York, July 16. World No. 4 sugar futures

to 5 points lower with sales of 1,479 cnotracts.

Domestic No. 1 suyar futures closed today 1 tą 4 points lower with sales of 82 contracts.

World futures were down ou much as 30 palate in the nearby September delivery at one time on liquidation which was sitri- |buted to the dœeline in the world raw markel, and to further offer- ngs by Bimali at prices well under Cuban levels.

is sulitos free auto,

Dompstic

** Contract No. 4-(world)

10 pptember.

March

July

September October.

Spot (canis per iii. fob Cuba) ***"Open" "Unterest!" 2,140 contracts.

Contract, No. 4 (ömasallo)

2016 September Kovember

Spor (cent par le, cit NY

Usled Prem

0.30