1957-09-04 — Page 9

14

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 1957.

TRADE and COMMERCE SECTION

PRESSURE ON CURRENCY EASING

Much Depends On Outcome Of

German Elections

By SYDNEY'S. CAMPELL

London, Sept. 3.

HONGKONG

STOCK EXCHANGE

Our Own Correspondant

Business done on the Hong- kong. Stock

Exchange This

tions and the morning's trans actions:

Sterling was much firmer last week on week-end covering and necessitous end-month buying as overseas countries were acutely short of it, There is more recognition that Britain and Holland have ample means to hold the position until something more sensible can be devised. Last week's German and British denials of currency changes have deterred short term G speculation.

Government

Bonds

On Decline

London, Sept. 3.

Government bonds declined

נא

The drop in forward pre- ก. เงาง

foreign currencies cuts both ways since It estilles lo casing of pressure, but also makes speculation cheaper, As the German mark is almost universally regarded as under- valued, unnettioment may recur periodically antil the end of this month, depending on such German élection things on the result on September 15 and attitudes to the IMF meeting in the last week of September.

No Confirmation

There is no confirmation

ANKS Dayers Belteis

Food Delicacies Show

In America

WORLD RUBBER MARKETS

New York, Sept. 3. Rex rubber futures today .closed 10 to 84 points lower with sales of 52 contracts.

Sept.

Nov.

Jan.

tur.

May

July Bept.

30:50

3047

30.50

30.pi

30,53

30.00

30.40

Standard contract closed 31 to

Sept.

DULL TRADING CONTINUES ON WALL STREET

By DOROTHEA BROOKS

Now York, Sept. 3.

Stocks extended Friday's gains by frac- tions to a point after a hesitant start with interest in special issues during the move.

The rise was achieved on Gen. Pub. Utlt. tontinued duli trading. with Go Of

Gdden Co. trover of 1,400,000 shares Goodrich 18. F.) Co. 110,000 belind Friday mir Goodyear ryze

Gulf Ou........... smallest alice Aug. 10,

Heyden Newport Corp. Late

demand developed for Homestake Mining Co. Sharon Steel, P. R. Mallory and Ingersoll-Rand

Inland Steel Co. National Distillers as announce Interchemical Corp. ment LA made that they Int Business Machines

International Nickel International

By JOHN MORKA,

New York, Sept. 3. morning amounted to approxi-Buyers representing thousands of stores mately $444,000. Neon quota-

throughout the United States were placing big orders for a wide variety 4 points lower with 110 spies of international gastronomic delights reported. being featured at the Third Annual Nov. National Food and Confection Show.

I will set up a new company in | 1011 Harvester

the nuclear-missile-age metala Industry. Now in its seventh day, trade From Australla comes

1011 Tel. & per Olla A post-hollday sluation pre-

were strong. Metals John-Manville Co. soup; source are looking for at least Kangaroo

over the famous cheese centres, Switzer with the trend easier in com- price cuts to

vated on the terminal market argely ignored further copper Kansan C. Power & Light

3. Ray Mcdermott a 25 per cent boost 1.45 1908 1421%

Katser Industry 9242.42 $00,000,000 worth

Holland, of business land. France,

Ger

Kemerolt Copper done last year. Some are even many, Denmark, Ray

Shipment runsing around a point, and they with London. 11⁄2 hopeful or a $100,000,000 volume Netherlands, specially-aged pro- offerings were moderato and Slightly Lower 5901341

ducis; from Spain,

high price. famous 540 540 next year. 10503

744204

olives.

675

Salet

1/30

7.05

10034%

7.03 6300 7.85

1024

INSURANCUS

Lombard

Why closel

DOCKS. ETC. K. What the k prvidert 101 1430 123

LAND, Ma HK B

་་

UK Land.. Humongye RUBBER Apkalp 'Truxt UTILITIES Train XD

เคร 1:14 JB' 10.50

From

from

FIBRE BASKETS

the

JAD,

Mar.

May

July

Bepi.

30.03

30.41

30.55

30.31/

30.50 30.90

But consumers remained in- affferent In the spot market, although there appeared to be a Mexico, fair sized trade demand in fatures at the 20.80 cant level Spain,

With more money to spend, Americans are travelling abroad 19 never before, acquiring a inste for

Yugoslavia, focus of the Japan, the

Hongkong and nators they visil. This growing come the attractive fibre bas- Spot No. 1 Ras was quoted at

forelen specially 23.50 foods is expected to keep cash fruits, preserves which are be-

kets for packaging the fancy 30.50 cents. 200 100 registers humming over the

coming increasingly popular as 500 13.50 next few years. nccording to Christmas gitta. 2300 10,6

trude leaders,

10. 21.39 interest

200 23.58

15.40 151

30.23

16.10 10 30

146 1475

23.4 23.14

Yaumati

G LIST (0)

: 12.30

or

Meer's XD Morao E. Telephon

37 29.30 1345 16.53 37.70

Cement ... 313 321%

Red

1420 STORES, vic. DAJT ... 18.5 15.70 3500 15.70 Wytson... 12.54 12.70 2003 12.00 155 13.80 1401250

10 12.5

in generally mixed trading

Bann today on news that Bri- denial of the specifte

That

British the tain's gold and dollar Tumour

Chancellor has proposed Anglo- | INDUSTRIALS reserves dropped sharply German talks, but it cost almost in August.

be taken for granted that there will be some fort of discussions on a matter fraught with such importance and indeed dangers for world prosperity.

Closing prices of Government luues showed forses ranging to more than a dollar.

WIS

The stock market generally The talks could occur at fractionally mixed and various levels, starting perhaps quiet as trading was restricted with Britain's ordinary financial by the ending or the current | reprezentatives abroad. account period.

INDUSTRIALS

Since the distortions centre jon European currencies, it

natural would be

for the concert attitude before

Industrials moved In narrow European countries to Irregular trading with leading some common

close, and for the IMF meeting.

half

The a drop in Its

at

the

D

issues casing Unilever lost nearly dollar following half-year net profits,

Olla closed lower. however, was in demand closed higher.

Adenauer

COTTONS Textile 4.474.3715

Vibra

2000 119.63

2012.00 DO 12 R 2130 22021

502 264 3124

BY AND LARGE

Displayed are more than 6,000 fancy foods and confections by 400 mamifacturers from all over the world. By and large, the wide range of fancy foods and confections covered soups, mes and fish delicacies, cheeses, entres, jams, jeilles and conserve, and herbs and spices.

SINGAPORE

currency

The market opened slightly France Is well represented tower on overseas advices but with a bit display of chocolates, steadied on further cheeses, bread rusks, wines, rumours. At higher level there Jams, candles.

was a fair selling and the market The Irish exhibit sponsored closed cent below the best of by the Irish Export Promotion the day. Futures: Beard is also attracting lots of No. 1 rubber per 16. Sept. 0115-08% interest from buyers.

Det, 8014-00 Per- ticipating for the first time in No. 2 rubber per lb. Sept. 871-68

Nov, unquoted this annual show which attracts Na

No.# arents from about 12,000 stores. Spot rubber unboled Ireland Is showing bacons, Hanket crepe hams, biscuits, cheeses, There are also such conversa-

cakes. No. 1 pale crepe tlons pieces is chocolate covered plum pudding. honey, canned

LONDON anis, whale skin, snail seasoning, meals, catmeal, jams, marma- French-fried grosshoppers, roast- lades, ten. chocolates, candies, Rubber prices closed 500 € 16.90ed bumbles bees, salted sain, beer and stout

per lb. as follows: broiled sparrows, broiled rots. Charles D. Kelly, acting No. Ras spot ora 0534-20

Settlement fried zaza insects, flet of wild manager of the Export Board, October" house term: boars, worny and caterpillars, - said the response of the Irish November

20-201 Then there Westphalian products, was very favourable. act/Deg.

other meats hams and

from So for there have been at least Jan Mar. West Germany; baby shrimp. 500 inquiries from the trade, and

Aur Junk July/Bapt. oysters and clams from Holland; many more are expected before 3.97 herring fillets from England and the show closes.-United Prest. 12.26 the Scandinavian countries, and 11.45 partridge and pigeon breast

11 vasted in jelly from France.

D.00 9.00 1000 20

15.00

4.10

Nanyang MCELLANEOUS

INVESTMENTS Allied

Exchange Rates

thin

Business WAN done In the locs! unuictat exchange market morning the following tales:

Government | 7.5. Unike (per 113

Sterling notes (per El Australian notes (per

S

ord Mr Adenauer personally are very keen on. European Indonesian rupiah (per 100 Shell,tegration, but

Professor Slom cal per 1007 and Erhard has often remarked, the Singapore Straits

present distortions are heading fast towards

dis- European Integration.

Copper shares declined follow- ing a further cut in prlee. German issues gave ground in r quiet forelim bönd market.

Dollar stocks were mostly

unchanged.--United Press.

CHICAGO GRAIN

MARKET

They are conduring much more towards collapse of the existing Europeto Payments

don than towards creating n workable new common market or free trade srca,

Profitably

Amercian

Men of goodwill could pro- fitably discuss these problems ond doubtless they will Mr Per Jacobsson, the hend of the International Monetary Fund, who left the Latin Chicago. Sept. 3.

conference

Buenos Aires Whoat closed up 14 to off

Two weeks ago would no doubt one, cent for now and upbe available to come and give 1% to 1% cents for old. Europe the benefit of his

advice. Soybeans closed off 4 to 13 corts.

Prieus per bushel in cents: Wheat, old contract

14.00

27.30

NEW YORK COTTON

CONTINUES TO

CHALK UP LOSSES

New York, Sept. 3.

Cotton futures today resumed the reac- tionary trend underway before the weekend holidays, chalking_up losses of around $1 a bale with the far for- ward deliveries relatively easy.

Nothing of the sort is known to be scheduled and

ony dis- cussions would probably have

At the close the list ruled 11| Mont:: to be exploratory or provision)

LE after the

to lower

two Dobits Oct. Dec, German points

higher. Opening

prices were Mar, off two to nine points. New Mey Orleans closed off five points.

clections.

Much may depend or 22333-220whether they give the German

Favourable crop news with Government an immediate free hand or whether they entalla private crop surveys showing a engilty interregnum of coalition big gain in production prospects 1927-123 building. The latter would be during August spurred the sell- inconvenient and possiblyg in forward months. dangerous for the world.

19922 1324-12

Repi

210

Tec.

222?

Wheat, new contract

#pol

Heps.

2174 Z1%) 210VALA MINSA

Der

223

Mas.

MDS

July Corn, No. 2, yellow

Spol

2049

1245

Sept.

Dec.

Mar.

Max

July

Ryo

Sept.

13015

Dec.

73514-15

Ozia

Bepl

nee.. Boybeans, No. 2, yellow

003 SUIT

Spot

244-2450

Hept

Nov.

Jan.

MOT.

May

230 2414-15 27613 24335-

235-235

123-133

Darley Apot New York flour

13496-15 Germany's

100 1. rock ............ $19.23

United Pretz

WINNIPEG PRICES

Winnipeg, Sept. 3.

Prices of grain futures closed

today. In cents per bushel as fol-

position,

Nearby deliveries held rela- being tively slends, meeting an under- eruclul, it is unfortunate (and lying demand from the trade not very creditable to Europe's placed around the 33 cent foresight) that these matters are level.

to a head during Л

coming

general election

Ono crop survey placed the

campaign and end-August yield at 12,750,000

its aftermathChina Special.

Mall

UNILEVER

PROFIT

DOWN

London, Sept. 3.

bales. This was up 858,000 bales

from the last official figure und

Volume Opra interer!

10,300 148,COD

New York Sugar Market

New York, Sept. 3. World No. 4 sugar futures closed 5 to 19 points lower with sales of 677 tracts.

con.

Dotnestic No. 8 sugar futures closed unchanged to two points lower with sales of two con- trnetu.

A lower raw market brought resumption of the liquidating movement underway at the 'and

DE

close with gains

Ligeti Meyers Tab. Co. Lockheed Aircraft.... Loews Incorp. Lone Bar Coat Co. Mators were narrowly mixéd.

Lowenstein & Sona Leading steels cased. Hails McDonnell Alwaft were nortów, end

Stock Exge.} slightly

Membi Iron Corp. lower on balance.

Minnesota Mining The Dow-Jones пvcтages showed industrials 480.13, up

Milton Developement Monsanto Chemical Co. 1.75; walle 137.43

T 0.06: Montgomery Ward utilities 60.06, up 0.22: 65 stocks National Cash Reg. "A"

Motorola Inc. 107.03, up 0.45.

National Dairy Prod. of 1,108 Issues traded, 040 | National Lead were higher, 336 lower, 222 New York Centre....

National Steel Copp unchanged. There were 32 new Norfolk Western Ry

On Mathiesos

Olis Elevator

Owen Dios Oxford Paper

Pacific Gas & Eleo. Pan American Airways Paramount Pictures Parke Davis Co... Penny J. C. CD. Penn. Bait Co.

Radio Corporation

Radio Corp., PI

Republie Steel

Reynolds Metal

ows.

NY Stock Exchange volume was $3,010,000,

American Stock volume was 500,000 shares.

Dow-Jones closing averages

bond

Exchange

were:

30 Industrials 07-8715

20 8776-001 19 ier 8315-831|| 69 steeks 09-100

40 bonds Comm. futures prices index.

400.13

Th

Philip Morris

01.03

Procter & Osble Co.

107.03

Pilisburgh Plate Olase

162.00

64.0 Pure Oll

Publicker Industries

Closing Prices

in ponce

Allied Chemical

Ailled Mts Inc.

TEN

Allis Chabnero

American Altline

2014-20

Americon Cyanamide Cɔ.

Amer, & Forga. Power

Solar AireraIL

24-2014

Am. Drake Bhor Co. Am. Gas & 20%-20% Am. Mach. &

4131

lectric

dry.

30%

Southem Co. (The)

2714

Southern Railway (Com.)

General markata, git basis, ports: September

American Smalling Ainerican Tel & THI

17439

23-251%

American Tob, "

7%

Standard Oil of Cal

November

Hept 20-2014

Anaconda Copper

04

Arco Bleel Atmour

1377

Allas Cons. Miring

Baldwin Lima-fam.

127

Ballinore ▲ Ohio

Beneficial Finance

Talk

December

Delabur

Estate crepe thin

26--01:

2012-2011 American Metal 203-27

Etnie crepe thick Sept. 29

AMSTERDAM

The rubber market was easy; Bendis Aviation Corp. today. Prices closed in gulliers

per kilogram, clt Sept. as fol- lows:

No. 3 rubber No. 1 rubber No. 3 nibber No.

crepe

Bethlehem Steel

Henguel Cor

boeing Airplane

Borders (T0) Co,

Sears, Roebuck & Co.

Shell Oll Co.

Saint Te

Sinclair Oil

Papor

Bocony Mobo

Bouth Puerto Rico Sugar

Southern National Gua

Standard Brands

Standard Oil of Ind.

Standard Oi vf, NJ.

Bleep Rock

Toronto Exge.)

Sterling Drug Co.

Blakely-Van Camp.

Riudebaker-Packard Corp.

Bunsiina Mining

Swilt & Co.

16 Texas Ca

43

2,81 nom.

Burroughs Add Machine Campbell Soup Co. Canadien Pacific R

421

25 nam. 2.47 nom,

Cade (J. 1.) Co. 2.35 nem. rat. Traptor United Press,

SINGAPORE

STOCKS

Singapore, Sept. 4.

Celanar Corp.

....Financial Cor Chase, Manhat. Bank Chrysler Metors Climax Molybdenum" Clust! Peabody Colgate-Palmolive Co Colombian Carbon Có Commercial Credit Commonwealth Elec. Consolidated Edison Continental Oil of Del. Crown Zellerbach Cuban Amer, Sugar

Hamond Alko Diamond Match Opening Douglas Aircraft

Brokers today quoted the fol- of last week, with nearby towing stock prices: months standing the brunt domestle contract ruled dull and featureless.

Co.

the selling pressure. The Bilu Lintang Rubber

Lid. Brittan

Petrolcum Byndicate Consolidated Tim Ematter

Ord.

Dow Chemienda *7.024 Dupont de Nemours

Xarter Airline

Eastman Kodak

Pato National Qu

| Family Finance Corp.

$2.87% Firestong Tyre & Rubber

Luan Rubber Estates Ltd. $1,15

General Electric

General Foods

General - Mólore

Contract No. 4 (world)

045

Ma 34

Oct.

Jnn

Mar.

4.27-30 4.00 3.68

ser & Neave Lid Ord... Fraser & Neave 7a57% clum,

prer

Ford Motor

9,800 244,800

May

Cimmons (Malayal Limited Hongkong Shanglist Dak-

£2.50

$300 102,100

Juff

ing Corp.

$475

7,300

180,000

Sept.

3.90

Hongkong Tin Ltd.

1a 720

July

Dec.

3,300

111,600

Oct.

1.80

Kampas Ltd.

7.10

4,800 200

104,400

Spot-[cents per lb. fob Cube

4.40

Kula Kamar Ti

436

Total

35,200 40,000 1,000,500 halce

NEW YORK

Open Interest: 5.001 contracts.

Malayan Ureweries..

Contract No. 6. (domestle)

New Serandah Rubber Co.

Lad

Nov.

Petaling Tin Ltd.

$3.23

Prices of cotton futures closed today as follows:

5.48

Hales Hotel

MAY

0.

Bhgapore Cold Storage ...

Bept,

6.60

Straits Trading

NOV.

33.001

Epot-cents per tb. di Ny

1.00

Straits Steamship...

United Engineers Onl

23.57

ax-duty)

5.60

Wearne Bros.

$3.40

Open Interest:

50 contricit

39.80

Unlled Press.

37.65

NEW ORLEANS

compared with last year's crop today as follows:

of 13,310,000 bales, The cron

condition 1060 during August whereas it normally chows moderate decline.

Prices of cotton futures closed

33.00

23.50

33.54

33.85

23.47

LIVERPOOL

IN CU

32.00

The increase of 833,000 kalts was termed "conservative" the report said since substantial al- Jawanco was code for lateness of the crop in some areas.

Cotton future closings, in Another survey placed the end-

at August yield

12,217,000 ponce per lb, were as follows:

London Foreign

Exchange

London, Sept. 3.- Closing rates were,

New York Montreal

Amsterday

Brusseln Copenhagy Frankfurt

Millau

Odlo Parle Stockholm

The total value of the turn- over for Unilever Limited and bales, The Government report Old contract Oct/Nov... unquoted zurid

Vienna Unilever N.V. months

Dec/Jon.

MAT.CAPT

May/June

July/Aug

Deo/Jan.

Mor/Apr.

__May/June

Mili demand for spot cotton New enntract Oct/Nov. million in the first and second in the past week was confined

Iowa:

Osta

Datober December May

TOIL

091%

for the six is scheduled for Sept. just onded June 30, 1957 | one week, hence, amounted to £840 million

70

against £813 milion and £058

Eye

Otabar

1103

December

212-6

halt of 1888, respectively.

May

110

Consolidated profit

50

DSEL

pecond six months periods of 1050 respectively,

Batley

to

nearby shipment, Atlanta

Very noted. for reports

ulo

Unilever Limited was £22,400,- forward buginosa Whe donc. October

000 against. December

£28,400,000 and Mille complained about the lack £23,000,000 in the first and of cloth shies and demand for MAY

not Flariced

cotton

expected to Oktober

Increase until mills sale im. December

Taxation absorbed #11,300,- prove. May

000. auraityt £11,700,000 and The cortiñéated stock today Canadian export No. 9. 150% £12,200,000, in the first and totalled 8,028 balos, up 209 cents, No. 6, 122% cenia-Unit-Į second half of 1953, respectivo- bales from the Inst posting od Press.

ly---China Mali Special.

To work ago.

JULY/AUZ.

20,40

20.03

20.71

2.70% -2.79 5/10 2.01-1.68 15/10 **** 10.632-10,631

120023734-130.65 19.333-10.33}* 31.07.-11.873%

174-36-2745 19.9511⁄2-198,5GE

16794 11672 14.433-16455, 72253-1022 12.151-12.16 -United Press.

New York Foreign

Exchange

HAO PHUO

New York, Sept. 3. Prices"all" unquoted. In

Closing rates were: the United States, the |áverago, price

one-inch canada cotton at 14, doodgrated, spot | Hngland unofficial markets was not available.

of

exdiv.-China Buti Epecial.

London Metal

Prices

London, Sept. 3. Prices of metals closed today in sterling per long ton at the end of the unoffelgt afternoon scalon as follows:

Textron Inc.

Tide Water Asia, Oli

Time Inc.

Twenty, Century Fox Fin

3315 Union Carbide

0014

Union Pacific Ratiwa

United Aircraft

United Gas Corp. 14% Union Oll of Cal. 434 U.S. Foll" "EN"

U.S. Gypsum

V._8._Line® Co.

US, Rubber

371

US. Smelting

47

U.S. Steel, 7 po pf

402

US. Steel...

4719

Warner Bros.

25xd Westinghouse Electric

4219

6713

4015

West Va. Pulp & Paper .... Woolworth

United Press.

IDOS

Western Union Tel, Co.

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New York Metal

Futures

New York, Sept. 1. Prices of metal futures closed today in cents per ib, as follows:

Sept

30-dama

00-dagra Total sales weto 28,041 bales. New Zealwod --United Press.

0.06 1/10 203-204 ATTIS 2.30 5/16

Lead

Zinc Begh

15.800 unquoted

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Out

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