1957-08-22 — Page 9

Page

BAT Declares

Second Interim Of Six Pence

Londen, Aug. 21. `British-American Tobacco Company declared a second Interim dividend of six pence per unit. free of tax. for the year ending Sep- Lember 30, 1937 on capital Mereased by 33 per cent free crip latue,

A firat interim of seven pence per unit was paid

tor to the capital in...... 'ercake,

In the previous year, a Arst interim of lx pence was followed by a second of seven pejice, and a Almal

of 11 pene per unit- Chiba Malf Special.

BRITAIN'S TRADE GAP WIDENED IN JULY

THE CHINA MAIÉ, THURSDAY, AUGUST 22, 1957.

TRADE and COMMERCE SECTION

Possibilities Of Common Market In Americas

By WILLIAM L. F: HORSEY

Buenos Aires, Aug. 21.

The idea of a common American market for Latin American countries was undoubtedly a burning topic at the inter-American economic conference officially opening here last Friday but it is more likely that regional markets will be the only practical outcome of the parley.......

Eric Johnsion of the U.S.

delegation but week called it a "dream" but something worth wanking for. The major ob- stocle at the present line for such a scheme is the lack of conmunications. With the con- sequent high freights, and ot course, the vart distances that most countries' products must

'Then Dave)

are vall countries with. complicated Toreign exchannu systems ke Brazil and others with multiple rate system ke Argentina and very few Indeed with a from ex- change.

OILS SCORE

GAINS IN

LONDON

London, Aug. 21.

Oil issues shook off the However, the European com- Syrian crisis today and mon marker has scared a lot of scored gains of up to 50 Latin American nations into ex-

highlighting 4 ploring the id for themselves, cents This was very obvious at the generally mixed stock mar- meeting held in La Paz, Bolivia, ket. lant May, of the United Nations Economic Commission for Latin America,

A CRUSADE

Oils rallied further in after- ncon trading but bucked convit somewhat at the close. British Petroleum and Shell staged the widest advances.

London, Aug. 21. Britain's visible trade gap widened to £69 million in July when imports were higher than the monthly average for the Brat half of the year, the Board of Trade said here today.

Juni

were low Imports In

July but they rose sharply 1

One of the first voices raised agalan modest therese In

In in alarm at what he called "the slight drop A experts and

European African danger" 10 re-exports,

As a result the visible trade Latin American economies was dichelt rose by £31 millen from that of the Argentine journalist, ing.

Allende, who the comparailvely low level of Joaquin

continental crusade £38 million in June.

Carloa July importa totalled to plug it. The late

million Davila was also keenly alert to

the possibility.

or £30 £300,500,000 more than the month before and three per cent above the, month- Iv average for the year,

MORE THAN

Exports of £281,400,000 in July were £5,500,000 more than the previous month.

wen1

Blayn

The resurgence of confidence In Wall Street yesterday acicd to boister most aller reelors of the market, Stock, were frak. tionally mixed in selected trad-

INDUSTRIAL

Industrials registered small galng, Borax, Hudsons Bay, Unilever and British Aluminium were firm among US favourites. Department stores issues were generally firm with the

They pointed out that European investments had been largely spent in the First World War and wiped out almost in the second Wa so that less ex-exemption of Great Universal change was available for taking Stores Lft.. which cased on dividenda

Paw materials.

news of a Government thumb's Engineering experts did not They correctly forecast that the down on its proposed issuance. maistain att increase regarded Furopean ematians would brister of stock bonus to stockholders. in the cond quarter of the the enfeebled

economics by

British Governments svere steady and quiet,

year the mainly to lower ex-Importing 18 for as possible

ports of ships and bouts

including the July figurer, ex-

From their African colonies.

ports for the first seven menths of The eruit has been steady

the year were fix per cent inapprent The only copper value and about three per cent mills in the

in valuno above the corres ponding period the

betare-neuter.

year

New York Sugar Market

New York, Aug. 21. World No. 4 sugar -futures closed today 13 to 27 points higher with sales of 1,615 contrucis.

Domestic No. § sugar future: closed unchanged to four points higher with rules of 20 con- tracts, .

world which did not close in the depression were these or the Belgian Congo and Northern Rhodesia, which .could then proxiure at only four écrits R pound. while Chile-until then the cheapest producer-- could only produce at six cents,"

Britain now takes a great part of her colier imports, Ironi West Kenya, Fast Africa; and African coCOD exports

from Ghana and Siera Leone have wide European

markets now, Egyptian cutlon was always a faclor but now Sudon has in- creased: its production. Only Peru Egyptian Abres.

comes near

1ise

LESSER EXTENT

Bolivia's

tin exporta

Ane

Soul! African gold mining shures advanced on expectations of higher quotations.

Doilar stocks were mixel.-

Unite: Press,

UNIVERSAL

STORES

REFUSED

CONSENT

London, Aug. 21. The Directors of Great Universal Stores have been informed that

Non-Stop Building

As the Royal Mail Lines cargo-passenger · motor ship "Loch Loyal" takes the water from her launchlar in Belfast, another keel is laid for yei another new ship, "Amazon", on the slipway which the "Lech Loyal" has Just left. The "Loch Loyal" will join the Royal Mail Lines' cargo and Passenger service to the West Indies, Central American and North Pacific. Her gross tonnage is 10,000. — Neuterphoto,

Cotton Futures

Irregularly Lower In NY

New York, Aug. 21.

Cotton futures today moved irregularly lower for the second session in a row, with new crop months giving the most ground.

Day trader covering at the close restored part of the extreme loss with the list closing unchanged to off seven points. The market opened off one to 11 points. New Orleans closed off three to 11 points..

A continuation of Tuesday's late selling was attributed 19 Agriculture Secretary Benson's recent £tatemen!

suggesting

that the loan on basic crops be and that acreage lowered limitations be liberalised.

features Individual trading Treasury included the purchase of around consent has been refused 5,000 bales of July by spot in- for the proposed free scripterests, supposedly against cot- ton sold for future delivery. an issue of one "A". Ordinary Alter, the same accounts were from Malaya Lui also to a lessor for each Ordinary or."A" moderate sellers of July

and December. Nigeria. Ordinary held. thekent i Northern understood

The waitle or Mimoza bark

The certificated stock remain

L 3,001 bales-United

World contract strength re- flected the sharp upturn in the raw market and the absence of reduced mostly by alluvial

Bnzillan offerings,

position was that part of this sugar might go to the Sudian in 1.0 the form of rened, since word was received on a tender for 10,000

reine: for tons of that country on Tuesday.

Contract No. 4 (world)

were

0.000

Open Interest

CHATTER ON WALL

STREET

FURTHER RECOVERY STALLED AS CAUTION DEVELOPED IN NY

By DOROTHEA BROOKS

D

New York, Aug. 21. Further stock market recovery was stalled in late trading when new caution developed on news that the Western powers, had offered to halt

Page

HONGKONG

STOCK EXCHANGE

Our Own Correspondent Busincs done on the Hong-

kong Stock Exchange Vals morning mounted

nuclear tests for two years 5 ima bid for Russian co- proximately $492,000.

#D-

to

Noon

quotations and the moming's transactions:

operation on disarmament.{

The news did not spur any selling to speak of, States Inyers Beller Sales but sent many traders to the sidelines.

Closing BANKS

prices, while well below.the highs in many cases, UK Bank 907 still were predominantly higher.

A few selected issues had Pure Oil ....... guins runcing to ex points Oils Reds Corporallon

Redio Corp Pref and aireratte Avere besi par= | | [tepsiste Steel formers in the early extensions Textron Ino of Tuesday's rally.

Trading was routine through out the session and at a 1.720,- 000 share total was in charp contrast to Tuesday's 2,700,000 shares, the most since July 11.

Blue Chips

A few of the blue chips did weil American Telephone, up a

point, and Du Pont, up nearly one ex-dividend. Activily cen-

tred in Sunshine Mining,

General Motors, Jersey Stan dard, Trans-America und Bethlehem Steel,

Reynolite Metni

Benre, Roebucks & Co. Shell ou co....... Sinodel 01 Sand Reg. Paper

Sorony Mebleit Solar Alterzik 3. South Puerto Rico Super Southern Co. (The) Southern Notional Gis Southern Railway (Cam.) Butter RY Bandard Brands stendard Oll of Cal. Standart Oil of Ing. Sundard Oil of NJ Step Hack (Toronto Fre Blakely-Vun Camp, Studebatter-Packard Carp.

Wit & Co. Sibelline Miolog

Texas Co...

Tide Waler Am. Oil

Twenty

Sunshine was one of the wide wen Century Yes Film losers, dropping two points to 12%.

fractionally

Steels were higher; motors tractionally lower. Rolls were mixed.

Mensured by the averages, in- dustrials were up 1.28 at 405.14; raits off 21 at 141.20: utlilties up 31 at 06.03 and 65 stocks up

34 at 167.87.

Union Carbide ....

Union

Union Pacifle Railway

United Aircraft

United Gas Corp

U.S. Foll

U.S. Gypru

V. S. Line Co.

| U.S. Rubber (xd)

U.B. Emeiting

U.S. Steel Warner Bros.

Westinghouse Electrie

Of 1,117 issue, traded, 687 Western Union Tel. Co. were higher, 280 lower, 242 un- West Vo. Pulp & Paper

Woolworth changed with 47 new lows set

and 3 new highs.

New York Stock Exchange bond volume was $3,400,000.

American Stock Exchange volume was 850,000 shares,

Closing Prices

Alden Inc. rey.

Allku Chemicals Alled Mille Inc. Allis Chalmers

American Airline

American Brake Shoe Codi Ainerican Cable

Corp

American Cynnamite Co

Amer & Yoren, Power

Am. Gua - Electric

A Mach. & Fury

American Metal American Smalting A. Sugar Net, American Tob. "B"

Amertean Tel & Tel Anaconda Copper Armour

Armco Strei

Attas Const Mining

wint-Lima-Ham.

Baltimore & Ohio. (xd)

Reneficial Finance

Bendix Aviation Corp.

Beliguest Cora.

Betlehem Steel

Boeing Airplane

Borsien (no) Co,

Burroughs Add Machine

Campbell Soup Co.

Canadian Facile A.

Cafe (J. 1.) Co. Cat. Tractor

Celaurac Corp.

C. I. T. Financial Corp. Chase, Manhattan Bank Chuyler Motors Climax Molybdenum Cluets Peabody & Co. Colgate-Palmolive Co.

Commercial Credit

Consolented. Ellison

New York, Aug. 21. Fitch Investors Service Colombian Carlibet Co, says investors should adopt Conwealth Elec. a conservative attitude forContinental Oil of Dei, the time being with

the Crown zeuerbach investments confined to Diamond Alkall carefully chosen, soundly Douglas Aircraft evaluated

common

Cuban Ames, Bugar

Diamond Match.

stocks Dow Chemicals

Dupont de Nemours where the outlook spells Fastern Airline

uf

Dealer United Kingdom bought 21,000 in Notel, South Africa, has The Directors have asked to ed

uns of Meuritius raws, A made a large hole in the one-be given reasons for the refusal Press

time Argentine and Paraguayan of consent but, in accordance Mouth comlame

the Quebracho with usual practice, the

TTCL- and Tanning extracts markol.

sury has refused to give reasons,

Volume

Det Dec

0.400 11.400

150,000

275.200

Mar

164,200

Alny

6,500

149,300

scale, On a smaller buys more and more fruits likes cocoanuts, 4.26-27 et from the African colonies. 4.20-23

4.04

3.77-01

The establishment of regional capitalisation proposed and the mrkets as a first step is quite lensible. The obvious stort could Directors, had

Europe The Directors pointed out that tropical | consolidated capital and revenue bananas reserves as at March 31 this year amounted to £44,173,170. These

justined amply

July

11:190

108,200

satisfactory

Oct.

109,000

Dee,

Tatul

1,200 50,000

34,290

1957.

090,100 bales)

NEW YORK

the

Spot in their opinion

Oct.

Dee.

Mar.

Mey

July

Ort.

Mull

Dec.

Sept

Oct.

Jan

hay

July

Sept.

Teb Cuba)

לק 4

3.00

5.47

433

Spot-penis per 1.

Open interest: 1,340 contracts.

Contract No. 6 (domestle)

Sept.

Nov.

Xar.

ntoy

Sept

Nov.

be made in the River Plate area established a strong case which ar even between Argentina and met all the requirements of the the neighbouring countries gen- various directives given to the Ferally. As a matter fact, there Capital Issues Committee from

is wholesale and widespread un-time olheiat traffte across the borders Special,

.GB 5.05

of Argenting 1.0

6.31

5.03

·

... 1.50

Spaliceous per . cif NY

Open interest: 1,031 contract United Press.

New York Foreign Exchange

New York, Aug. 21.

Closing rates were:

Canada Englak oficial."

*

14 **

Unamclai

30-day

DO-RY

New Zealand ....

South Africa

With Uruguay,

Brazil, Paraguay, Bolivia Chileinctly

and

121 food-which the huge frontley force of yore sharmes or the river patrols of the maritine prefecture have never been able to cope with completely.

Firstly, the

10

time.--China

SINGAPORE STOCKS

results

Moody's holds the

suffers from apathy and frem General Electric Prices of collon futures closed loss of growth of enthusiasm General Motor today as follows:

33,001

33.70 33.72

33.92

32,32

23.09

NEW ORLEANS Prices of cotton futures closed today as follows:

33.72

53.90

21.1

32.02

14.00

in

LIVERPOOL

future closings, Singapore, Aug. 22.

the pence per lb. were as follows:

following stock prices!:

Mar/Apr.

20 DO

26.24

26.50

20.82

26.09.

2000

Spot

Ocl.

Dec

Atar

May

July

Dec.

vart

Collori

waterway

Bystem of the rivers Parina, Brokers today quoted Uruguay aud Paraguay with their myrind tributaries provide cheap water transport between Argentina and those countries, $1.00

Morever the Parana, valley 2.10-7/16 353-260 in recent years is studded with Comidated 2.10-11/16 oil refineries, steelworks, chemi-Framer & Heave Lul Ord .. 1390 2.74-11/10

cal factories, drug plants, plas-rar & Heave. 74% cum. 2.77-7/16

pret 2.18-13/10 tics, pipelines factories, paper Gammons (Malaya)

milis, etc. Until today it is the Hongkong & Shanghai Misisipul of South America Honging in Ltd.

Corp. even to the squarr-ended barges Kungas tid.

Old contract

a Ligang Rubber Co. Ltd. British Borneo Petroścum

Byrulente

Ord.

Opening

$2.82V

847-

Oct/Nov.

Dee./Jan.

May/June

July/Aug.

New contract

Tin Shelters

3/30

Oct/Nov.

Mar/Apr.

$4.00 12.00

May/June

July/Aug

2722.

27.AD

$125

TAK

$3.16 40/30

SAO PAULO Colton future closings, in cruzeiros per kilo were as fol-

Lows:

Dec.

49.30

Mar.

Serandah Itubber Co.

MAY

43.30

00

July

40.17

228714

$1.13

Other unchanged Unlled Press.

London Foreign pushed try tugs.

1

Exchange

Kunis Kampar. Tire Then, too, there is a magalus, Stubber Estates Lid 1.10. leent highway system from Malayan Breweries

3.72 Buenos Aires to all the borders Ltd. London, Aug. 21:

and international railroad lines Patung im ita.

Raffles Hotel Closing rates were:

which link this' capital with

Slapenore 276-316-7/15 Asuncion, La Pes and Santa

Trad Storage Cruz In Bolivia, AntoBagastu, Baits Btcamaily.

Uration Engineers Ord. 14.4412-1149051| Santiago and shortly Talcahuano,

Wearne Bros) -Walled" Prem | la Chile -United Press,

New York

Montreal

Stockholm

#

$5.4714•

20.00

rather than from fear.

Gen. Pub. Util. finds Getty Ou Journal of Commerce

Glidden Co. demand still is evident, although Goodrich (B.F.) Co.

INSURANCES

Union .....

SHIPPING Whoclock DOCKS, ETC

A03 4044 203

92

ง

7.5

7.80 2000 4 1.75

117

403 40

13

K. Whorf Inscie 281% Provident..

A

87

11.70. 1.10

***

02136

LAND, ETC.

Hotel 15.40

JK Lehd

2016

Humphreys

237 ilealty

2010

14 1000, 11 DO 3020 1.10

RUBBER

301% 30% 500- 30 14.50 10.40

1.75 18000

1.45 1.50

1475

23.30 27.90 2100 0 23.50

10% 101

18.40 10.80 2000

Armain

42% UTILITIES

4312

Tra

E

Yaumati

IT

C. Liget

751

(Risi 12.50 12.00 TOS Flectric,

Macau E. 801% Tel.

33°

201

20

INDUSTRIALS Cement Hope

STORES, ETC. Dairy

41Watson

03% COTTONS

214 TextBe

200

2012 29.70 2000 ( 79 00

27.00

5342 3072

200 g *

15.50 10.70 1000 15.0

140 8

500 15.70-

1240 15.00

600 m 12%

4.50 4.3215

1275 MISCELLANEOUS

Ch. Ent.

10

30% INVESTMENTS

-United Press.

WORLD RUBBER

MARKETS

New York, Aug. 21.

Yongis20

Allied

0.00

425

500 450

CHICAGO GRAIN MARKET

Chicago, Aug. 21.

Grain

futures

closed

Rex rubber futures today irregular in a quiet session closed 10 to 19 points tower of the Board of Trade, to- with sales of 25 contracts. day.

September

17542 November

70 January 853% Morel

Blay

B4

July

11

531

September

Standard contract closed to 10 points tower with

sales reported.

1 September

451 November

3916 JanuoTY

6012 March

41% Mny July

34

3314 September

711

A

Was

plts Trading in mast 31.90 rather featureless and slow, 31 45

Commision Jouse trading 31.71 31.63 reported on both sides of the 31.50 market in wheat futures, Trude 31.30

was rather slow in com with no most prices moving lower in corty trading in sympathy with 32.00 wheat and toybeaje,

31.00

313

31.75

Scattered shows and cool were forceest for temperatures 31.03 the corn and soybeans belt. Hot 110 weather was

Was wanted for

the

ted fast development of these crops.

featured

routine session dealer, intra-changing of con-

West Germany bought 600,000

tracts while speculative interesis bushels of US hard wheat for marked time perding new deshipment during Oet, and Nov... velopments. Shipment offerings in the day's export trading. ogala light and high priced. Spain postponed until later Domestic factory demand negli date the purchase of 700,000 igible. Spot No. 1 Ras was bushels of US whent, 1.

quoted at 32 cents.

281

SINGAPORE

Wheat closed up 1% to 134 cents for few and up 1% cents The market opened slightly for "eld, Soybeans closed up lower on overseas advfoes and 13% to 24 cents. eased further on some federa- Į Wheat, old contract tion liquidation.

Sept. Dec.

It ruled quiet throughout the wheat, new contract

35 No. 3 rubber

NO. 4 rubber

Spot

101 x rest of the day with fair en- quity for lower sheets.

Spot

Eastman Kodak

for

El Paso Nations Gas Family Finance Corp. Firestano Tyre & Rubber market Ford Motor

forles

showed

Interest

very

Future closings were:

Fac- limited

Dec.

Mar.

May

July

Sept. 1967 210) ZIGALIL),

Ost

No. 1 rubber per .

Corn, No. 2, yellow

General Foods

479i

Sept,

OM.

302

Nov.

3-DaRi unquoted

Sept

Dec.

Fel No. rubber

CPL-01%

May gent. Dis.d144

Mar.

Sept. 88-0815

July

B4

Epot rubber unbaled

012-0132

1309; | Blanket greno

03-04

Sept

142 No. 1 pale crepe

101-103

LONDON

Dec.

Dati

Scot

2016

4093

200 27 8/10 pence per lb. Price:

No. 1 rac spot

ir steady with spot quoted at

Dre.

Soybeans, No. 2, yellow

- 273-273

Spot

| Settlement houpa term:

Sept.

Sept.

OZ

Oct/Doc.

273-2736

Jan-/Moe.

Mar

Atm./June

May

25

274-2716 Daricy

Apot

to a lesser degrce for shares of Goodyear Tyro those companies where earnings Gulf Oil ........

Heyden Newport Corp. aro unsually good and promise Hamstake Mining Co. to continue favourable.

ANOTHER RALLY

Ingersoll-Hand

kland Steal Co.

interchemical Corp.

Int'l Businem Machines Int'l Harvester. International Nickel

"E, F. Hutton & Co says International Paper

דם

The rubber market was quict-

July/Sept

100% General markets, dit basis, porte:

Aut

Supl.

Tas

3475 Estato crepe

thin Bept

(Am

thick

a base will be inti Tel & Tel **** gooner or later formed for another rally and J. Ray MoDentrots another attempt to pleco the John Manville Co. ....

C. Power & Light the long-term colt Copper ** upper side of 32.59

Liggott Meyers Tob, Co. trailing rongy.

Lockheed Aircraft .... Reynolds & Co., estimates Loews Incorp. Aveo Mig met may tell to a $1 Zone Star Cement Co. a share from eariler estimates of Lowenstein de Bonk,

Montell Alteraft 31.60 because of a four-month stock Exgs) strike in ene of its divisions...Mesabi Iron Corp. Deere & Co., may net $3.76 a Minnesota Mining ahero against $2.67...P.R. Mini Development

Monsanto Chemical Co. Mallory is expected to exceed Montgomery Ward $2.50. a share against $1.00. Meterala 2. Fairchild Camera & Instrument National Cash Reg. A 1997 results will exceed 1956 National Dairy Prod.....

National Lezi” ....... United Presa..

National Steel Corp. New York Central Norfolk & Western By Din Mathieson ............. Oila Elevatotu Ovrets-Elois Ojake Oxford Paper Panilla C# de Hee. Den kremy Wam done, m the localPa Amarban, Airways

excheerleak. Uils Parenosant Plolures unrela morning, at me mallowing malama Paris Devje (ie. 40 Penny 3. C. 66. VB. döller (per $1)

108 Pert. Salt Co. ofurling notes (cos 21).

10 Pro · Month - FLLAD Australian notes, (per, #1) Indonendas rupiah (per 100) Jłem tical (par 100)

Ling

In the United States, the average price of one-fich cotton

at 14 designated spot markets was 13.61-cents,

Total sales at these markols ware-0,852, bales-United Frum

Exchange Rates

10.20 Pooler & Gamble Co.. F2 Pistaburgh Piste Glam

AMSTERDAM

20 Anyer New York flour.

200 To,

mquated

The subber market was very

218-2-219

133-133

197

電話

called Press.

WINNIPEG FEICES

Winnipeg, Aug. 21.

Prices of grain, futures, closed

qulot, Pricas closed today in today

in Canadian-entils por

guillery per kilogram, elf Sept. bushel as follows:

ca follows: |No. 1 rubber No. 2 rubber No. 3 rubber No. 1

tropo

100

Osta

2.47 nobo

203 buycia

Doc

2.01 not. 2.06 Durate

May Byo

sunited Pram.

Oct.

Det

Hor

Elarity.

Del.

Deg

MAT

Oct,

May

Canadian wheat

non-IWA 150%

NAMESAKES

Doo.

[Anwork-i Politics, 2 Flanscod #| Deaths, a Provisions, 4 Economy, 6 Famine, 0 Standards, 7 Farm= ing, 6 Scarcity, D Population, 10 493) Statistics 11 Births, 12 Produc- Alan, 13 Increase,

. Thomas Makhus.

|non-IWA 100% „rétita, Na,

Press