1957-09-05 — Page 9

Page

THE CHINA MAIL, THURSDAY, SEPTEMBER 5, 1967.-

TRADE and COMMERCE SECTION

Page: B

MR 'CANADA'S' C’WEALTH PLAN WALL STREET

Determined To Have Outline Ready For Meet

By FRED MANOR

Winnipeg, Sept. 4.

Canada's new Prime Minister, John Die- fonbaker, is determined that his officials have at least an outline of a Commonwealth trade plan ready for the conference

Commonwealth of

HONGKONG

STOCK EXCHANGE

thip

Our Own Carraspondant Business done on the Hong- Stock Exchange kong morning amounted to approxi- motely $195.000. Noon quota-{ ons and the morning's trans-

Letions:

Sharea Bayers Sellers BANKS

finance ministers, who will meet in k Ottawa on September 23.

INSURANCES Ters. Di SHIPPING Waterbunt..

Mr Diefenbaker is in a hurry, and he has three cock

impelling reasons to push matters fast:

say the are, to least, dubious. He might and his preits Thorply reduced without any compensatory ad- vantage.

(1) He must soon go back to ; dollar market the country for a definite men- date, and he must press the Pectorate with a swifi solution of some of Canada's trade prob lems, particularly that ot de. clining wheat exports,

(2) Ie must convince tals highly sceptical Commonwealth colleagues that an

Dominates

7.30

13

སྦ

DOCKS, ETC. K. Whart.. Lock Provident LAND, ETC. ink Thl.

K Land Humphreys 10.0 14.20

Really 1.EL

Analy Trilet

UTILITIES Trom XD

exampits As Stor Perry

Take such improved lary,

Textiles. or

Britain Yeternalk

but

Cammonwealth trade is feasible, dorulates the Canadian market C. Light and should be given preference over any Brusli involvement in the European Common Market rcheme.

to ladies' sĖLOGS.

12 12.20

154 137% 301% 30%

1.430 150

1.45 1.50

Bales

150 20

200 13.20

Go 333

1.30 5000 @ 1.325

23.60 150 2315

133

18.50 500 18.70 440 12.80 1000 12.02 500 29.10

Ike's Plea Likely

To Fall On Deaf Ears

By JOHN HEFFERNAN

Washington, Sept. 4. President Eisenhower's plea to Americans to halt needless buying to help curb inflation is not likely to be received enthusiastically by some of the nation's major manufacturers.

WORLD

RUBBER

MARKETS

Singapore, Sept. 4. The market opened around the previous levels but éased on heavy Federation liquidation with interest In physicals, limited to short covering,

At lower levels selling. fairly well absorbed and 500 3 tall was halted. Futures?

per

-The-motor

car industry, for and, is geared for the opening in a few weeks of one of the

CHARTERED BANK DIVIDEND

The Directors of the Char- tered Bank of India, Aus- iralia and China have announced an Interim dividend of 7 per cent payable on September

27.

German Banker

Jargest sales efforts since_the Holds No Need

war. "Manufacturers are due, to unvell restyled 1958 models and have been banking on a bum- per sales year,

Steer production during the past eight

months has reached

an all-time high in anticipation

the new cars appear.

LURE BUYERS

To Revalue] Deutschemark

of a pick-up in demand when Dusseldorf, Sept. 4.

Herr Herman Abs, a Board member of the Deutsche Bank, said in a nowspaper interview that should there be an upward valuation of the mark, there would have to be a devaluation within

Makers of the other modern appliances such as television sets and washing machines are also trying to lure buyers with new models; and the clothing industry is already well into the the autum buying season.

was

105 200

10.70 18.30

2800

In Imported shoes, but

24

haz not made

any' This

(Ria 12 UD inpuct

Electric XD 29 29.30 is be- Mueɔo ...

(0.43 10.50

7.75

500 27.00

Cement

J2

STORES, ETC.

Dalry

No, rubber

500 15.70

|

129 12.70 44% 4.53 30034.325

0.73 0.25

November

per ib.

September

21,00

**September

asf-as

65% 51%

No. 4 rubber

6.60

per

lb,

4.15 4.273

September

Spot rubber untaled

Blanket erepe

(3) He wishes, by brandish- Catise of US. competition, which | TSATRIALS ing his Commonwealth trade an article of quickly chang iden, to score the US. Congressing fashions ulfers prompt de- fancy Blylcs That into restricting. if not entirely liveries and ybandoning, is give-away pro-appeal to Conadier customers. Aramme. whereby US.

The samne applies to cotton COTTONS whent Is, to all intents and purposes, goods, where fritain sold to Textile

14 million worth, MISCELLANEOUS

Nanyang Riven free

to nations which Canada would normally pay dollors for gainst £22 million sold by the Fi Canadian wheat,

US. Every importer will admit That British cottons are at least as good. i got better than the U.S. product. But the U.S. siylen, packaging, and speedy delivery make the U.S. goods, more desirable.

Some Success

spare-parts

INVESTMENTS Yengirze Allied

LONDON

CLOSES

FIRM

London, Sept. 4. stock market closed firm today despite some light profit-taking that frimmed the highs of the day.

September October

No. 2 rubber

No. 3 rubber per 1.

No. 1 pale crepe.....

LONDON

40-002 0724- unquoted-

6311-8412 06-862 00-82 97-17

Prices closed today in pence per lb, as follows:

The president was careful mót to mention any particular items in his plea for less spending.

The reporter, who brought up the issue, said he had to pay 10 cents more than when he bought a tooth brush, that food prices were continuing to go up and that the taxi he had taken to his office, had cost him 25 per

cent more in line with a re- cent general Washington cab fare increase.

A

Housewives generally are complaining about the continu- Ing Increases for food: and 2931-20%|'clothing— :

2531-956

No. 1 sa społ Settlement house term:

Oct.

Nov.

22361-2170

Dec.

2522-2334

Oct/Dec.

2391-253%

Jan./Mor.

2015-2016

Aur./June

30-2015

General markets, el basis.

Sept. Oct. Nov. Satute crepe tila Det thick Oct.

It can be reported al this carly stage that Mr Diefen- baker's endeavours have met In fron and non-ferrous metal : with some success. His psycho-products--which include Teglent warfare against the U.S. sirplane engues, Congress, consisting, so far, of And all kinds of machinery. thrents to divert one third of Britain is outsold 10 times over Canada's forem trade from the by the US, and, moreover, U.S. to Commonwealth murkets, suffers a grievous competiti hos produced near-proic from Germany, Here again an among US. Senators, whose example should suflee: states would be hardest hit by The Manitoba

provincial any such move.

The government has eritaged in Moreover, the Bedgeling Con- Britain 4 probation officer for servative administration has adult cfladers. Because of the bren specially favoured by vast distances a probation offer Mother Nature, which hus Just hos to cover here, he is normally. blessed with a catastrophic provided with a car. Imagine wheat harvest.

This year's The dismay of this

Ollesues were the mont newly- whent crop will be only 202 arrived Briton when he was active sector of the market and mlion bushels, nose-dive told by the government authori- {elosed higher. from the 516 million bushel last ties that they have ordered for

The dollar premium TOSC year, or from the record crop of him a German Volkswagen, yesterday and this premium is 1952 of 678 million. The poor Experts in Oltawa" believe the amount British Investors harvest will reduce the Cang- that trade with Britain can be must pay for dollar stocks dim whent surplus to manage- į pradually expanded, if only which they order from Wall Able proportions, and also re- British exporters can be per- Street parties. Heve pressure

on the Treasury sundred to shinw

mure interest Industrials made somo head- hard put

enshin Canada. Givet such interest, way to And

with Imperial Chemien Wheat for advances to reitive farmers. | plus active support from Govern- lending the modest advance.

However, Mr Diefenbutter's ment authorities both here and run of luck has not gone as trade with Britain to the tung in London, a yearly increase in far as convincing his Cummon- wealth colleagues of the prae- within the realm of possible.

of £20 to £30 million is well ideny. ficability of his trade Omcials in Oltawn are reported to be sweating in their effort? scheme that to prepare some Would shake the

ready

Visionary Target

However, the £220 million persistent diversion is a visionary target. as believed to have been set prin- Mrcipally to frighten the US. It could only be achlevert by government bulk purchasing by Canada,

and

government-

cynicism of such sceptics Australia's Prime Minister, Robert Menzies,

Quite Clear

Mr Menzier,

who

visited Ottawa, hon

quite cleur

that he

British Government bonda rallied to react to a favourable also closed arm.. Gold shares

August report issued by the Rand group of companies and closed easier-United Press.

London Tin Market

231%-25

RESPONSIBLE

the following 24 months,

to

He described the need

increase the value of

HAS SMALL TURNOVER

New York, Sept. 4.

It was the smallest daily total sinco October 27, 1953 when turnover fell to 1,260,000 shares today on the New York Stock Exchange.

For most of the stock 31st fractional change was the rule. For some metals, motors, oils, steels, chemicals, and mis- losses of a point to more than cellaneous issues there were two points.

A Iew features countered sharply.

Auto issues

sagged despite

good reports on August produc- tion.

Declines

Steels had declines running to two points or more.

The

Dew-Jones

averages showed industriais at 482.00, off 3.63; rol 198.33, off 2.10; utilities 67.92, of 0.34; 65 stocks 165.80 off 1.37.

Of 1,117 issues traded, 644 were lower, 242 higher, 231 lows, five new highs.

changed. There were 43 new

New York Stock

LIVERPOOL

COTTON PRICES

Liverpool, Sept. 4. Colton future closings, in pence per lb, were as follows: Old contract.

October/November December/Jonaney March/April May/Ju

July/August New Bontract,

October/November December/Jorulary March/Apr May/June

wy/AW YORK

25.75

25.00

26.62

220.67

24.07

25.47

20,20

New York, Sept. 4. Trading volumes and open

interests today on the New York Cotton Exchange were as Exchange follows:

Month

bond volume was $2,920,000,

American Stock Exchange Oct. volume was 300,000 shares.

Closing Prices

Allis Chainsets

Amore Power

Am. Motal Am. Breftrig

Am. Tub. n

Am: Tel. & Tel. Amour Bethlehem Steck

Baltimore & Ohio Canadian Pac. Ry Chrysler Mators Climax Mal...... Consolidated Edison Cubars Am, Bugar

mak ceneral Fire.

Eastmin KLOAK

the mark as rubbishen. Foods and said it was quite

wrong, in his opinion, to say that exchange rates were distorted.

There was no generally valid

was Riso

General Motors Goodyear Tyre

eden Newport Corp. Int Harvester

Inil Business Machines

in re&Tet":

Int' Nicket

Kennerelt Cenper Lockheed Aircraft Loews Incorp Lone Star Comment Montgomery Ward

National Lead... New York Central

Oiin Mallifeson..... Pacine Gas Elec. Was Pen Am. Airways

The cost of ilving Index has yard-stick to measure whether 2346-297, risen for 11 consecutive months, currency was over or under-

According to

Kerr Abs oficial statistics valued. the Index for July

Was was 120 8 quoted as saying that it per cent. of the 1047-49 level: not up to the West German The Labour Department has Government to take the initia Penn. Salt Co.

Radio Corp. sold that it does not expect any tive over the plan to coli an Republie Steal great decline for August.

international currency con- Stoep Hock ference.

20

2011

United Press.

CHICAGO GRAIN meat, fresh

MARKET

Chicago, Sept. 4. closed up 3/4 to 1% cents for now and up % to a conts for ald. Soybeans closed up 1% 27% cents.

Wheat old contract

Sept.

Dec

Wheat new contract

Spot

Sept. 10 ( 217(L)

Doc.

The

London, Sept. 4. market WIS inactive

Mar.

MAY

Juty

today, Prices closed in sterling

organised miles by Britain,

The other wook the powerful per long ton at the end of the Corn, No. 2, yellow U.S. Senate

Agricultural Com-afternoon session as follows: mnade i millee was told by an Eisen- Spot

sce no hower

recently

MS

admistration

amcint 3-month

need to worry about the Com- that Mr Diclenbaker might be monwealth murket,

Die In the position to put in "sume Commonwealth nations already rules and regulations" to diver

from the U.S. And, Exchange Rates needless to say, the Senatorn did not like it.

have all they want,

of

This, of course, is the kernet

Mr Diefenbaker's troubles, Omeially, no is committed to

trade.

During July higher prices for

fruits and veget- West Cermany's reserves ables were targely responsible in comparison with those for the increase. Meat was up of other countries, such GB 34 per cent over the month and Switzerland, for example, were frulls and vegetables cost 2.1

not at all large, he added, per cent more.

The breakfast foods-bacon, cially pointed to as the villains eggs and fresh fruit-were off- of the latest price rise,

NOT INTERESTED

The newspaper went on to quote Professor Reinhard Kamitz, the Austrian Finance The July increase meant a | Minister, and Dr M.W. Hottrop, wage rate for over one million to workers whose

wages aro re lated to the official Living index

CANCELLED

cost

of

Paramount Ple

United Press,

London Metal Prices

Tha

was

London, Sept. 4. copper market irregularly easier in the morning and quiet in the afternoon.

President of The Netherlands Lead and zinc markets were Bank, bs saying that their steady but quiet throughout the countries were not interested | day.

Professor Kamitz said indivi-

in the upward valuation of Turnovers in the merning the D-Mark..

50 and were 850,

050 tons respectively for copper,

Icad and zinc.

turnovers The Labour Department said dual revaluations-up or down In the afternoon;

of little lasting value } were 175, 200 and. 100 tons in giving the figures for July |—were 210 24-224 that

average spendable and, in his opinion, the right respectively for copper, lead 227

earnings of factory production way lay in the co-ordination of and zinc. Prices closed 222

workers went up 15 cents

sterling per long ton at the end 2006-11

European inance policy. week in July, but that the in-

of the unofficial afternoon crease

Buyer Sellers

the

was cancelled

1251

the price-rises.

1234-24

The average

for worker

pendents. Was

Spot

Buyers Sellers ..... 7354 130

THE 7JTV *********Untied Pres

Sept.

DEL

Mar.

Mas

July

Eye

Seat.

22335-12

Dec.

13816-12

Onta

local

Sept.

6016

G

5.00 Boybeans, No. 2, yellow

Spot

240-2470

12.29 11.50

Sept.

27 26

Nov.

237-6-55

Jazz,

1.81

24114

NOT

May

210-15

125-133

While Mr Diefenbaker has Finerg Was done in the

unofficial exchange

market this divert to

the Commonwealth been busy scaring the Senate morning at the following rates:

Agricultural Committee, he has US dollar (per 1) above all to Britain, been very careful not to scare Australian Holes (per £1] ....

Sterling notes (per £1) roughly £220 million in trade away U.S. capital investment, Indonesian rupiah (per 100) The magnitude et this target Some legislation may be

and

bo

pit

have

seen from last yent's pared to force U.S. companies Singapore (Straits) trade figurts; in 1956 Canadian operating in

Canada to

Spol

Imports from Britain amounted more Canadion directors on tion, enough additional seats to Batey, to £100 million, which, in their boards; and domestle tax cidentally, was an all-time relief should help to entico

record. Imports from the US. Canadian investors into joining

secure a solid majority.

In Quebec the Diefenbakeri New York flour

amounted to almost nine times the US risk capitol that is all with a French element dat Is

Conservative party is allled 200 lb. sock

the British Agure, £1,400 mil pouring Into Canada.

lion.

#

reluctance

21011

244

$13.18 United Press. WINNIPEG PRICES

Winnipeg, Sept. 4. of grain futures closed cents per bushel as

However, it is doubtful whether isolationist, and morbidly sus

rabidly

Jehly anti-Briush. A British cxporter, fuced with any tax concessions will sufilcopicious of any closer links be-1

to persuade the over-cautious) choice of a sterling or a

Prices dollar market soon finds out Canadians to abandon their gilt tween Canada and Drilain or

today in that the sterling market is ged bonds and risit their the Commonwealth.

money on developing their To appease such elements, Mrj follows: much easier, with conservative country. It is this

Diefenbaker has to trood very fastes reflecting those

of of the Canadians to put out cold short time in the office he has softly. Moreover, during his Britain, and hardly any com- cash for risky ventures and petition,

not shortage of native capital, been learning the hard facts of On the Canadian markel, or "Yankes dollar imperialism economle life. however, the exparter has to that has led to such vast US. Minister Menzies that it sounds He was told by Prime contend with a stiff competi- Investment in Canada. tion, is maleed for speedy des

Incredible that anyone should Barley expensive Packaging

worry because too many dollars)

being invested in the country.

"In Australs the dollar

livery,

and styles and patteras. that

* will not sell at home,

Whatever the destination of

--Well Aware

The Diefenbaker administra tion is a minority government,

Are

with 11 seats in the 208-seat such a rarity that the Australion

Onta

Oot

May

Bye

Dot

May

2149-15

100

Filmeed

May

the British exports the manu House of Commons. And Mr Government dools like collecting facturer will always collect Distepbaker Is well aware that any that do happen their way. sterling so that for him, per only in French-speaking Quebes having hem framed and hung 1504 conts; No. 4, 124 conta sonally, the advantages of a can be obtain, in a future elec-1 in the Cabinet Rooms,”.

Canadian wheat export No: 3,

United Press.

in

19

Anoth

200

2004

Lead int halt Sept.

Doc. Zine 1st half sepi.

90

0015

United Press.

Dr Holtrop sald The Nether- sesssion as follows: out by

Janda would regulate its delicil opendable pay with West Germany by its own Copper spot with three de- efforts.

$75.40 (about He recalled that 227) and for a worker with very long ago that this country It was not out dependents $80.05

£23 119).

had thought of revaluing its currency upwards because of its large foreign currency surpluses, while today it was those

struggling with

deficits. considerable China Mall Special.

(about

The Department vald, that, considering the price increases, purchasing

power - of workers declined by three- tenths of one per cent as com- pared with June but was still one and a half per cent above n ycar ngo---China. Special,

Ma

New York Sugar Market

Volume Open interest

17,100 144,500 21,000 21,000

6.950 9,200

161,600

I

Dec

Mor.

May

July

4:00

Oct.

Dec.

3,000 1800

Total

69,300

111,100 104,400 30.000 1,000,200 bales

-United Press,

NAMESAKES

2

Answers:----1 Bloodshed,' War, 3 Adventures, 4 Describe, 5 Safari, Hunting, 7 Gunshot,

8 Bell, Arms, 10 Script,

11

Spain, 12 Writing, 13 Farewell, 14 America, 15 Reality..

Ernest Hemingway.

Wherever

you're going...

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USA

ORIENT

ROUND

THE

WORLD

You can fly there as the world's mest

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The Guinness Book of Records Chinese Creeds & Custom Vol. 1 Chinese Croods & Customs Vol. II

London Foreign Baby Book

Exchange

London, Sept. 4. Closing rates were: New York Montreal

Amsterdam

284-201

1901-1900

312.0036-29.23 74-19451

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18.00

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25.00

This is Hong Kong ..:

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Hongkong Birds (Herklots!

85:00

Coronation Glory

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King George VI

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It's Fan Finding Out - 2nd series

27036-3.78_8/10 |

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Rupert Annual 1957–8

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Rupert Magasinno

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Collection Builder Stamp Albums

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Asia

Exchange

S.E. Asia

Moomin Music Sheet Korean Artlite

New York, Sept. 4.

Closing rates were:

10015

On Sale At

New York, Sept. 4. Suger futures prices **Contract No. ★ (world) October

Jázmiary

March

May

July

September

October

Brussels Copenhagen Mar Oslo Brookholm

19.0034-10.667%

34.44-2449

121315-421036

Tom aulas 69) contacts.

pos picacia per

Lb. Dob Cube)

Open-interests: 5,#il contracts.

Contract No.

Ten Pointe About Pauris. Points on judging jade

New York Foreign Outline Ralist Map of China

November Marver

(despestis)

30-day

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