THE CHINA MAIL, WEDNESDAY, JULY 31, 1957.
Pagb
TRADE and COMMERCE SECTION
HK $ STRONGEST ASIAN CURRENCY
Cost Of Living HONGKONG Small Recovery
Takes Toll On
Money Values
By JOHN MORKA
New York, July 30.
Uncontrolled increases in global costs of
STOCK EXCHANGE
Our Own Correspondent
Finations to on the Hang-
Stark Exchampe toia
Amana A D
-
Experienced
Wall Street
On
New York, July 30.
CHICAGO WORLD
GRAIN
MARKET
Chicago, July 30. Grain futures were steady to heavy at the close of the Board of Trade today.
Wheat, tye and soybeans were aff mete han 21613
the make, enched steady in entend the et shanty before mid-
Stocks managed a small recovery of yester-u-b gloxing Atty sau: 400. Noon living have taken a "heavy toll" of international orations and the morning's day's 2 billion loss as support developed grudging currency values with more than 40 currency units serving up to two-thirds of the world näst population candidates for further devaluations, įkšenÄLT according to an international monetary expert and economist.
Staari
Huver, Sali
ara
Safa
17 V223
I'm
PAPANG
1.7
It ta
211
Fry vidt (0)
on
* !
Among the "stable" monies, according to lives, re Franz Pick in his 1957 "Pick's Currency Report" | published last week were the Canadian" and US dollar, the Belgian franc, the West German mark, the Italian lira, the Dutch guilder and the Swiss franc.
Staling. de pike mang car ficvilica, vindan belum
annged and contributed sontaally to the wath precisi Bus stability of the feet work... modelway lindo". Park notes,
Depreciation
payment: mich might ultiman je had to super-clearing
armagement which would help
Humohrevo
4.
10 minute joki chipunants; Yo
fr who will Westem purchaLAR 107
Tite extension of the
t
Uthung-EPU trading areas. Puding
Southr Americ tending nations via the "Hasun Excide
In his analysis of tå vutakse, Cute Bed the "Paris Club" are
ww4. Prble cutiemens, Pike niki tane facts me of waltari epilet
taf
M
1. .. moabing riep do thoi tugais An into ational trade at
Blog of muvenog, eating th monvertibility. In 1985, Brazy Ma catire world, capitalit le ng we reloget a multilatmal
14142
21129
1
:
RUBBER
MARKETS
New Yel, July 30. Rex rubber contract closed 10day 10 to 35 points lower with rates of 136 contracte
July
པོ་tut
ព
J:17
Foly
Sext.
Standard
| mening and the prices weat
jewer.
He.. ermmission haue re-
ly for leaders such as Bethlehem Steel, General Motors, Chrysler, Allied Chemical and Du Pont,
The Monday loss, widest since Feb. 11 for both: industrials and rails, was extended on the opening a lot in flette mill buy- carry-over of orders but the market almost imme-an, one serwera heme seidig!
i wered when, uinre diately stendied into a firm, but dull routine,
Investors appareatly wer nat Fußleiently ithnet..! with price
yet, bought out by the Mod-
pelling Buy
to by volu
"BS 1 BCA | Winoul rom: furthey inecative, Neither was there my pissure Urte a Monci-off 10%
to
thest of the region with special up on rain providing the item st with individ autoglang
19 1920 1929.10 point.
B
10 15 2
KALA polit to
fat in the -fssion, a tally
Paramount Pictures
Parke Davis Co. Penny J. C. Ca, Bean, Salt Co.
Pha 31stilet
Pacter & Gambie Co. Pattburgh Plate Class Pure Ol.... Baba Conyoratiba
Republe Ret
da Metai
her. Neobuck
| Str 04 Cə
St Her reper
3diatr Or
Hi Alcra
of
20 o mai müdert proportions liked roms
of the Kadni a point or more,
Improving
1 Behlerm Steel opped the
+
1. Improving Date.
Sama Puczia
en suer tlet Co. (Tnej thema National Gas
arry Hallway (Com.) Matlabi bent
Standart bit of cat
4 Standard Oil of
i stundara 01 of 23,
Rock (Toronto Ange Sieling_Drug Un. Sety Van Camp Stuter-baker-Packard tim
Co
Sally in aeted roup whics from-W
tione dueled for the Grat half reper of US 21
en.ement WPN, WOR
1969
iam na em
COTIONS
4873 443 AND 483
435
as Tron Curtain country. In orang payarni- United States, he said, the dollar Titin, the Notarians. ha lot $0.50
per cent ca 15 Wert Grmany. 1 value are 1940, 3. Bodrum, Jak di France jon, PA AVENTS, Dying,
Haku Cha" per cent of this chistrar tot va us
a willej s tristina Ca
Peay
ken place between Maren 1a Fe, th: up: bing and arch 1987, by this west hos min de rterling area and| depreciation alone, b aca. ht to
EP! LOT Brazil hot tea than 37 talions of dollarim, higpit stair lars of purchasing power were, palm.ni
Withi
ply wiped out, equivalent, 19 Reat Britain, 11aland, Belgium. i hot $15 for every
France, Itay, Au rin,
Pie
-7
king on the debe os 16 2213 hork, Norway on Exchange Rales
per capita or US population.
Den!
came an indiret me ber of the
Even the Suvia Warn, space; sterling area and the EPU, Tus; Tule was dear in cynical" than capitalistic nation &¦ terene, mint has became known, todavia con marci recorted to debt repudiation 9 fistan "Paris Club," Patponing the red-mption date!
of outstanding er kans el 253,000,000.000 roubles.
about
the ent
tiliz
Canent at the folowigg latest
46.5, dulky (per STY
5. Great Britain is made to decat de curs
altra Pre
Iti.ti
15
K¦ Sterling antes (ps) £11,
Australien palet per fi Tudtonea piguali iper ftki) ..
Sinere (90altsy
These benda, acending 10 Peg in the force table fate, o tural per 100
RIC now
valueless
for
Fractical
Berpite! purpo promises nai to issue new tranny during the year, the Soviet? Union began issuing a loya at 12,000,000,000 roubles six waving after reputintion of its old enou nirents, Pick said.
"In the capitalistie (nerka vi the globe, money had to lov value lu order to help to inuias. tain all employment," dini added.
Uneconomic Plans
"This technique beenne, fully
accepted #5, broretically
lenst, it protested the biggi Sztors
FULL RECOVERY
ON NEW YORK
10
COTTON MARKET
New York, July 30.
Cotton futures today, after opening sharply Mation which would make them lower, made a full recovery, converting losses of
nquist the risk of a futher de-
lure their jous. In the Co- 85 cents a bale into moderate net gains.
munitie and allite world,
monetary value ev povernment;
Closing just under the day's best levels, the
Tray Ch. The Water Asen, ou
Cap at which the empany Twenty Centary Pex Film jparka koud caining
151.642 Cribe
Borellog
59
27
CONTINUATION
32.15
12.01 123,95
31.03
10
contract closed to 35 points lower with no sales reported.
;". !5
HELGE
23.05
21.05
31,05
31.65
2143
¡
WORLD RUBBER
PRODUCTION
REPORT
London, July 30. The International Rub- ber Study Group released its May report here today. World naturel rubber produc- tinn, consumptiun and lock totals were given as follows in long tons:
May production 137,500; May consumption 156,000 including estimated import into Russia of 4,750 and tile Communist Chica of 9,250.
January
- May production 732,600; January-May consump- tien 792,500 including estimated Imports into Russis of 39,350 and into Communist Chinn of 37,400.
PRODUCING AREA
at
Sleeks in producing areas the end of May 242,500, down 22,500 in 1957; stocks on con- suming orcas 380,000 excluding government stacks not available Prices caled with the Lendon United States, down
to industry in Britain and the market and eating the dise
2,500 In curaringly slow demand fra 40,000 in 1947; stocks overall 1987; stacks cfloat 172,560, down demezte freteries and ether | 795,000 consumers, Shipments offertug 1957.
£5,000 in
mall amount of business artu- were aperted moderate with a
World synthetic rubber figures hy werkri.
in long tors according to the international rubber study group: May production 107,500; May consumption 105,000; January- May production 507,500; Janu- #ry-May 237,050, down 30,000 in 1957.
and
horus
Epher, rithough showing | peing of andre than a cost at the uping, celine at midday at ccutiuntion of ye terday's anci gominission house Felga trde was real faldly Better with Mexico purchasing en rutina'id nyo milieu bushels US CLA and Isingl baybig
Reported rules Included: 0154 00.000 buche's US hard sheet at 314% cents and
wheat.
icec' . 39% conte a elen 68 to Us AuguEL Wheat
shipment, cosi
and tems for oli and off to freight cut of Salpon. Also "hree
cheers cut of Talland at 31sexports during May costs Aug-Sept. shirment, cast to 44,455 long tons, with 15,283 amounted nd freight. Locally Spe! No, i of that tolal of estate origin. Pra was quoted at 32% eents,
الذي
440 4134
AMSTERDAM
one two pound.
The tuber market
was duil Prices in guilders pe kilogram,
No. 1 rubber
at new.
Soybets closed off 1
to 2
colle
Wheat old contract
Besterton
214.
Dicensber
2
Wheat new contract.
Spot
2151
Sept
2168
2147,XL
2160
December
22
26
AKEN
vit Aug. were as follows:
Ria
Corn, No. 2, yellow
Spot
13t
190. 2 rubber...
63
September
23011
No. 3 rubber
December
EMPE
1301
May
1330
471
Rye
197
Reptember
et,
US Str....
Deminer
Wear Bos
21
Oats
Westhur Fie
September
We teni Puin Tel Co. Woolwork
1
ferter
BANK
West Va. Pulp & Paper ....
-41
Soybeans, No. 2, yellow
7%
Spot
United Press.
Septembe
Velang von below Mouly at $1,700,000 share company wia¦
100.000.
0: RG Ber Guard.
hu: ace. 389 lower, 276 Changed with #new highs
31 Intr
1 Էր
Dow-Jeter clo
By rages showed industrial
Uuden Pande entway the Arcraft
The Gas Pump.
MR
1.5. pan
S. e Co.
PS. Rebben
-0.5. Setel
A pant at 500.93; de o 09 at 150.23, utilities off 18 at 69,73 jad GS stocks un 24 ut 175,369,
NY Stork Exchange
bund vultume was $3,270,000.
American Stock Exchange volume was 760,600 shares.
Closing Prices
Abad Chenil 2
Ali Pill ine.
AB
Chelten
Bata Cable & Ruda
Aartiera Canoe Am A Farm. Povr
A. Melly & Puy Aumkan MaM Aviigan Simelting Aa Sugar Ref Amurian T
& TH Amir Aob. "74" Anaconda, Copast
Amour
As Steet
A Con Amina
|__| Haldwin-Luna-flajm -Baillaure & Oin
Bene
Avion Chep
Bettpact Cons,
dib: estificates hd to be de- list showed net gains of 2 to 7 points. The market hem Steel unconmic By-year-plans opened off 8 to 12 points. New Orleans closed up
troyed in order in keep the:
to G points.
Burrows Add Menina
imply Sum
Hem Aptalle
1
Graden Pavite R. ACUN M. 1.
n.
Fotowo take cat. Taselor 123.900
NEW YORK
Cumme: Cam.
ja. T. Panzerat torp.
| Conte, Manhat. Dank The fentien tutures elerede is.... 12% ollows;
Ly and keep Live the user of balanced intergets,...
"Monetary management every- Auried her selling modes there) where made little offent to re-
Only le ginning, and fchnical nedy the given facts. Western Germany and Switzer upsidevations acted to turn the land ficiently opposed the can- ter the imat ca bad to cerous growth of the domestic aning r leur days in now. at can! In all other coun- price level,
Cumaldive
sears at 10. Sp4 me much was talked about, flows from the Hittle done."
fmatis earlier ingen from $3 Pick made the other obser- to afme:) $18 a bale, vations:
Fayeunable
*
1. The Canadian dollar,
erep news, Ouli-
Deer 19561 MICA May July
21.
December
new being quoted at a press in the textile rurket, n mium on the US dollar was theertain uncertainly over die world's best moniary unit at the al loan rate for the www. eropa. end of March 1957, despite aften'inti 11: zemiann. in- three per cent rise in the corticates
of living in 1956. "The manage- ment of the Canadian curreter deserves the highest praise for
rather
Parity Report
far-sighted classical handling of its monetary
Technigiamy twalled the mid- problems and for its muccessi)|July parity popoli zch-duled for budgetary operations and for the tomonew, which will 1urnish confidence its polley inspired."the base for al calculation of 2. The "strongest Asian the over June to 37.48 cents a *
currencies in order ael pound fe middling 3 inch, follows:
dollar, Hongkong Malayan dollar, Thailand baht, Unlike the practice of molly Indian rupes, Ceyloneze rupce, previous reasons, it is under- Pakistan rupee.
the tool the fut loan will be an- wopzo": Burma and Indonesia, nounced after the parity report, The strongest Communist-orbit but may be delayed until after cutroncy: The Chinese yuan, lesuance of
government followed by the Soviet rouble crop estimate on August G. Trade opinion differed on what parity rate will be used, ranging from 75 to 85 per cent.
Among
and the Polish zloty.
Super-Clearing
the
NEW ORLEANS
2.43
34 41
Prices of cotton futures clored
today as follows:
Syn!
Chetsbr
December
Match May JAY Oeicher December
LIVERPOOL
nax Maly be
| Dilgate=1th bootive Co.
Columbian Carbon Ca. Commental Credit Kamnawealth Kee. Cansolated on
| Centinental Out of ON),
frown Zeijeihachi Calary Arier, Sugar BORAY! Aall Data Aneraft Dow Chemicals
in de Xemou.
1 Airline
Batman Kapak ....
Paso National Gas
LE
4.
Record High For Canadian
Dollar
New York. July 30.
The Conaban
today reachcl
dolar
# new ta
curd Bigh In comparkan with the American dollar for the second time i week.
ntw
Treord 1.03-17/32
was 5/33 higher than the mark of 1.05% et la 1932 and 1/10 eral higher than the new peak set last week.
Traders attributed in- crearing Canadian dollar sirength 011 the world
money market
to th: profusion of Canadian hom
is rerntly floated on the Anesten market; a centuel index of British capital into Canada: ant a lack of restrictions Da cold dealings north or the border.Bulted Press.
LONDON HAS
Prants
M..reh
Barry,
Spol
Neke York Hour
260 16. suck
No I crepe
SINGAPORE
32 nom. 2.61 non:. 2.60 nom, .BA be.
The report stated Indonesian
AN ALLOWANCE
Adding an allowance of non- reported experts of 2,500 long tons, the Indonesian monthly totni became 40,055 long tons and 251,307 in the Arst five
months of 1957.
The group also made avail- able rubber statistics Issued by the United States Department of Commerce for May, igures enco more in long tons
The market epined around last night's close and ruled quict throughout the day,
There was a fair interest in 40,385 of which latex 5,810;
lower thiels but only a small festoy Inquiry, Futures: 14242 No, rutber par 15. Ave. 91-91
Sepi. 03-09
Oct. angusted No. 2 rubber per lb. Aug. 119-02 No. 3 No. 4 Set rubber unhaled No. 1 pale crepe
125-197
$13.00
WORLD BANK
INCOME RISES
Washington, July 31. The World Bank today; reported a net income of $36
LONDON
Natural rubber consumption
01,815 jstocks
11,730.
of which latex
Synthetic rubber consumption fete 79,930 breken down as S- type 66.515: Butyl 4,015; - Neoprene 6.474; N-type 2,027. 0149-025
100-100
The rubber moricet was quieti with spot quoted at 2876 parte Der 15. Prizes:
S. Rr rat
Sitement hou, erm
AUR
Nept
Our Dec.
| Jan/Mar.
Apraduno
Gaal market, elt bakir,
Auk
Isra
#tale ape this Aug.
Thick
2823-27
27.370
والات
-United Press.
million for the fiscal year London Foreign
ended on June 30, 1957.
is !
compared with $29 million for the previous year.
Exchange
London, July 30. Closing vates were: New York Montreal Amsterdain
The Brink fatement said that j the total reserves at the end cl The focal year were $250 million.
The Bank made 20 loans to firuseli
Orlo
15 countries in the seral year | Copertugen totalling the equivalent of $300 Stockholen
**, million and brought its gress. Dilen, unchanged to'al lean commitments at dime
20 to $3.100 million
Sixty countries are members
of the bank, the plattanto; vald, j
but the total tubscribed capital June 30 was $3.260 million. --Reuter,
BAD DAY New York Sugar
London, July 30.
Markets had a bad day,;
partly to the severe
42 fall in Wall Street and
Market
2.78-2.70-9/16 2.03-2.64 10.03-10,034; 13902-190.6712 10.33-10.33 19/2015-10.0014 14.4124-14.43
United Press,
Synthetic rubber stocks total 174,413 broken down as S-type 122,396; butyl 31,951; Neoprene 12,004; N-4ype 6,802,
Tolal United States new rub- ber production in May 128,315, -United Press.
New York Foreign Exchange
New York, July 30, 1
Closing rates were:
Canada
England (official)
Best
Argentin
Othms unchanged
1.03-17/02
2,70-9/to
100%
-United Press.
NAMESAKES
Answers:-1 Mcon, 2 Laughs. 3 Extras, 4 Bews, 5 Bermondsey, Clowning. 7 Acler, 8 Audi- ence, 9 Variety, 10 Entertains, 11 Filme.
Max Bygraves.
P&O
R.M.S. "CARTHAGE”
33.69
Family Fes Corp.
31.40
Fite to Tyre & Rubber
1012
Fold Mutur
General Floctite:
due
34.50
Genval Foods
481
33.07
Gen Mt.lors
Gen. Tab. Qu.
20
3.19
Gelly Oil
also to US reduction of ail
Goodrich (B. F.) Co. Cloodyear Tyru
74
30% imports by 10 per cent.
New York, July 30. World No. 1 sugar futures closed today un- BAILS:
Ceiten futurea clesinga,
10
prese mer tb, were as follows: Old contract
July/Aug.
Oct Nov DIC./Jan Mar/Apr. May/Jung New contract
July/Aut. Det/Nov. Dec Jan. Mer/Apr May/June
Cotton
December 32.74 conta a May
9. The recently announced However, In no event can the Soviet Union payments for loan sato be less than the cruzeires its Eastern satellites will give guaranteed minimum, cnnounced follows: the latter more independence in in February of 31,60. cents for October Its trade relaties among the middling one-fuch colices. Lost March mdaber-nations. There *wos! nup the possibility that the Yar's foon wo Risis might be thinking, of pound. Lille pegments-bloc in terms of Month f#--"bridno" to the · European ber
May
„Payments Union, this paving the
way for a possible, increase in March. ede between the... Hist and my
A loking of sha: (wol october.
July
SAO PAULO
future clcsingz, per kilo
ware
Chuddion Co.
Cuit Oil......
Hyden Newport Corp. festake Mining Co
Inger-Xpad
26.25 Inland Steel Co.
26 42 7611 Hai vender
24.03 International Nickel
International Paper
01 The move alt oil shares with changed to 11 points higher 140480 | British Petrolcum down from with salen of 533 contracts.
ISTA
ESPA 100
chillings
nce to 154
The domestic
No. 6 sugar
15 shillings while Royal Dutch lost futures closed today unchanged 2016 shillings to 23 sterling, to 3 points lower with sales of
120 ccntracts.
BRIGHTEST
2010 Tateretenueat Corp.
20.32 m Business Mines
31304
34
DU
101
20.00 Int Tel & Tel
3519
4799
the short-dalieds
& Ligti
30
170
War Loan 1/10.
18
20.75) John-Merville
27.17 Kennacott Coppor
262-grit Meyers Tob. Up.
Lockhard Alterati
Lerwa temp.
Lono Birr Cement Co,
Lewelikola Bona.
10 AleDonnal aircraft. tan.
N Block Es...
Merab Iron Corp.
Minnesota Mixing 38.40 clon Davelopment 3D Mogsanto Chemical Co. 40.70 Montgomery Ward 4080 Motorola Ine,
40. National Coat Res. A
National Dairy Prod. Nations Lead the
In the United States, the
allons Steel Com
Volume Open Interest; average price of one-inch coften
at 14 dezignated spot marke's New York Central
16.300 179,400
24,300. – 245,200 16300107,600 11700
158,600 -20,900 ··310,000
was $3,88 carita ».
dis. Mathe Cits Havelo
fotul per weTO 17,774 balos, Owada Unite Press.
Firmness in tho 'world con- Brightest spot W 19 British tract reflected covering with the Geveniment
elocks copiciadly steadier raw situation, which
which gained posted up the reported with 5/16. Old Consols rose 1⁄4 and drawn) of Brazilian offerings
ead a colneldont · Inquiry from I farcign bonde German Chile, Potath 6% per cents jumped 2 2011 Fierling.
October
4.53-44
443-80
4.13
4.00
4.08
Contract No. 4 (world) Japancra chowe Beptember raine up to stering. Canta incory dian and dollar stucks tedic Maron
May punishment.
July Industrials virtually ail Beptember, marked lower and rises were October almost entirely confined to Spot teenta per lb. fob Cuba)
Open:Interest: 240 contr lotter-known isnies,
- Control No, & (domes eptember
In mining, shares the gold
Novembar
Annnes houses showed moderate Match-U1971
galma + but, buro / metals were weak.. Coppers fell, donutia, tina
Septeenberic
has 5 pontS, DIE
NOTICE TO PASSENGERS
BAGGAGE:
Thursday, 1st August, at 12.00 noon for the UNITED KINGDOM, vis Singapore, Penang, Colombo, Aden and Port Said.
Passengers are requested to send ALL BAGGAGE to the Hongkong & Kowloon Wharf Co.'s Godown No. 2 GATE, CANTON ROAD ENTRANCE, by Noon on Wednesday, 31st July.
SPECIAL NOTE: With the exception of hand packages carried by passengers” themselves, ALL BAGGAGE must pass through the Wharf Co's Godown for loading on board by ship's elings only,
..
EMBARKATION: Passengers should embar
9.80 and 11:00a.m. on 1st August 1957.
No comments yet.
Private notes are available after approval.