Page
THE CHINA MAIL, WEDNESDAY, SEPTEMBER 11, 1957.
TRADE and COMMERCE SECTION
NOW BRITAIN WILL SHOW ASIA Stocks Again
Trade Fairs To Be Held
In 5 Cities
WE'RE OUT TO BEAT JAPAN & GERMANY
London, Sept. 10.
A scries of British industrial trade fairs in five Southeast Asian capitals is being planned to combat Japanese and Wost German competition there.
HONGKONG STOCK EXCHANGE
The market was quiet and stendy today, Docks which were bid up suddenly last week saw a downward reaction of about $2. Cements also continued jo be weak.
Ald
Builder prices were generally
maintained. Wheelocks Amalgamated Itubbers were fairly active, The tacnover for the day Amounted approximately $572,000.00,
Our own correspondent re ports this morning's priccat
thats Buyers Bellets Bates GOVT. LOANS
The exhibitions, supported by the Board of Trade,
are being organised by local trade committees, Bank who hope to stage them between next summer and March 1959.
to
INSURANCES Union Sink itwa w CH
DOCKS, ETC.
Dock
..
395
7.70
130
$10,000 30
#70 #2870
01
11.000 7.80
124
$2,000
རྒྱr - -
62
I VJERE (0)
12 12.20 1,000
1425
12.10
They will be held in Singapore, Kuala Lumpur, Saigon, Bangkok and Rangoon. It is expect- ed that the first exhibition will open in Singa-LAND, HTC, pore though no date has been fixed as a site has still. to be found.
HK Land
Really
A...
A Board of Trade official said today that the t
response from British industrialists had been "good."
The original idea of holding the trade fairs came from the United Kingdom Manufacturers' Representatives' Association in Singapore.
SPURRED INTO ACTION
$5 20 15 30 1.000 14.30
Yalamat.... 101 103
2. Might FOY 10,10 18.00 3,000 / $8.00
(rta) 12.70 12.00 134
NEW YORK COTTON MARKET
New York, Sept. 10. Cotton futures today re gained stability after faltering start, although trading turned on the up- turns.
to
Technical considerations, plus the small omount of hedging met in face of Monday's tin- crop estimate, and the slow rate expectedly largo government of entries under the Joon pro granime, combined to reverse the recent sogging lendencies.
Closing around the day's best levels the list was up four eight points net compared with carly forenoon losses by two lo six points, New Orleans closed three to five points lower,
In addition to covering by recent sellers, based on the optimistic crop picture, the market derived additional sup- porl from trade interests, de- spite the discouragingly slow posl. development of expected Labour Day buying in the tex- tie market.
The Government weekly crop skynmory, while mixed, was considered favourable in the overall.-United Press.
Volunte
Open interest
1,011,000 bales
-United Press.
NEW YORK COTTON
PRICES
New York, Sept. 10.
Prices of cotton futures
closed today as follows:
2014
Had
1.475
3
1.59 5.000 3.473
Menth D.
8.700
134,900
Dev.
19,000
281,000
1523
1.45 33,700 1.28
Mac
19,100
172,300
100 330 3.000 of 1.305
May
13,400
160,000
UTILIS
July
6,900
113.000
ART AU 23.20 2340
Uct.
0.100
108.100
15.6.0
Total
70,200
2000 : 10.70
300 18.0
12.00
Fleetrie XD 24970 Tulepauna 27.70 27.80
INDUSTRIALS
1,100
1,200
100
27,90
27.86
31
pe
146
STORES, ETC.
3303
18.00 15.70 1,000
15.00
33.00
100
15 70
May
A
500
15.00
July
33.40
October
32.54
1215 12.0
301 M 12.50 500
December
37.40
12.5D
4,525
-United Press, NEW ORLEANS PRICES
New Orleans, Sept. 10. cotton
futures Prices of closed today as follows:
6.00
420
Spot....
33.10
.K. & F.E. Invest.
October
3385
0.50
200 0.20
December
1.ang.
They were spurred into action by a floating exhibi-Ba tion of Japanese machinery which toured Southeast Asia early this year and to a leaser Walkon extent by a display of German goods, Recently a senior Board of Trade official visited Southeast Asia to advise local trade experts on exhibitions.
It is expected that British manufacturers will send products in the fields of civil and mechanical engineering, electronics, pharmaceuticals and transport to Singapore.
In all the capitals the Board of Trade are hoping
to provide atomic energy exhibits.
Probable dates for some of the exhibitions: Kuala Lumpur, September, 1958; Saigon, December,
Empurulm COTTONS
PALIO INVESTMENTS Yangisze Allied
New York Sugar Market
New York, Sept. 10. World. No.
4 sugar futures
1958; Bangkok, February, 1959; Rangoon, closed today 1 to 5 points lower March, 1959-Reuter.
Trade Treaty
With Japan 'A Threat To Employment'
GERMANS
DISCUSS
TRADE
with anles of 406 contracts.
Domestic No. 6 sugar futures closed unchanged to three points
with sales lucher
of 25 con- Travis,
World futures ruled quiet and easier in lone as traders awaited furtier Cuban devetop- ments on the prosposed transier of ut fendt 200,000 tons from the world quota to the U.S. re- talled quota.
Cuban Sugar Institute WITH CHINA
Peking, Sept. 10.
The West German trade
de.
pter
The special committee of the which hold the proposal, will further meetings In connectica Wall technical details, traders understood.
legallon, which 13 vising October Peking, had its first normal! Jonuary meeting with 125
opposite Merch number the Chinx
Com Mas mitlee
for the promotion of September International Tradets Detaling
***
Canberra, Sept. 10. Moving budget censure motion in the House of Representatives today, tho Opposition leader, Dr Harbort Evalt said that
The meeting lasted ninety the Japanese trade treaty would reduce employment minutes, was most friendly and
statements were made as points may that should be discussedi
in Australlo.
lo sold Australin had a run dowa economy with increasing unemployment instead of the stability and
morning.
iter meetings.
Spot
October
December
March
Marels May July
October Broomber
33.50
Germany's 'No' To
WORLD
RUBBER
Export Cuts MARKETS
Don, Sept. 10. Dr Ludger Westrick, State Secretary of tho West German Economics Ministry, today oppes:ď artificial restriction of ex- ports
as a way to reduce West Germany's large balance of payments sur- nlus. plus,
Dr Franz Bluech^r, the Vice-Chancellor and Minis- ter for Economic Co- operation, in an unofficial memorandum issued yester- day, had suggested a giver- alon of exports to the home market as one way of
ucing the payments sur-
Financial circles in some countrie of the European paymenia, particularly Bel- tain and France, have called for West German
Relion
to reduce her large pay-
surplus In meals union, which totalleɑ near- ly
ritark 4,000 million (about 2330 million) the end of last month;---- China Mall Special.
BOOM IN
GERMAN
BONDS
New York, Sept. 10. Rex. rubber future closed to- day 15 to 30 points lower with sales of 50 contracts,
Sept.
Μαν.
Jan.
Atar.
May
July Sept.
30.40
Skodard contract cinecd 15
to 32 points lower with no sales reported.
Sept.
Ja.
Mar.
May
Jilv
Sept.
30.18
30.21 30.21
30.21
30.20 30.20
Depressed On Wall Street
New York, Sopt. 10.
Stock traders, in another late selling rush, tried again to put prices down to a levol which would attract new buying interest and shake the market out of the doldrums.
that el General Electric
The selling, like Monday although more severe, capped a routine, slow session. It sliced about $2 billion from market value; and stepped up the trading pace to the heaviest seen in seme time, fting tum over for the final half hour to 510,000 shares.
General Foods General Motors Gen. Pub, UGI. Goity, Ull Goodrich (F) Co. Glen Co. Goodyear Tyre Gulf o
tomestaka Mining Co. Heyden Newport Corp. Ingersoll-and Inland Steel Co. Interchemical Corp.
Int'l Tel. & Tel.
Jay Mcdermott
Jan-Manville Co.
Kaler Industry
Lealer seiling and hoping Imparted a mote, of eesiness at the close to feature an oder- wise stow session. A good part of the small trade was repre- sented in intra-dealer awlich- Total volume of 1,870,000 ina, including exchanges of shares wan the heaviest since int'l Bushess Machines
at dve points August 27, September/May
compared with Int'l Harvester... and May/January ut three 1,420,000 shares on Monday and Intan ma points.
with last Wednesday's 1,260,006- Shipment offerings from the share turnover, the Eghtest in East continued too high tu nimost a year. interest teral buyers.
Melal shares, Buyers
reflecting and sellers were reported about weakness in the raw markets, VA cent apart on Standard steels, meters, selected oils and grades while the gap on off-other special issues lest a point graders wwas about cent. to more then two noints, Ralls European interests reported-joined in with decines running ły were checking the market jelese to three points, here seeking some low-priced rubber. Dome.tle
factory buyers was quoted to operate on a hand-to-mouth tasis. Spo No. 1 Rss ivas quoted at 30% certs. Unite! Press.
BINGAPORE MARKET
Singapore, Sept. 10, The market opened slightly tower on disappointing overseas advices and cased sharply Federation godown hedgo sell
On
NY Stock Exchange bond volume was $3,703,000.
American Stock Exchange volume was 800,000 shares.
20 induriais
28 ra.la
13 jes
3 stocks
40
Com, future price index..
Closing Prices
Alten se. Acy, Ailled Chemicals
Alliet-Minis Inc.
Allis Chéinciy American Allize
47023
129 93
Kamna G. Power & Light Kennecott Copper
Meyer Trb. Co, Lockheed Aircraft
rows Incorp
Lone Dlar Cement Co. MeDell Aircraft Lowenstein & Gris.
Stck Exge.
Mezald Iron Corp. Minneola Minion Mielen Develpiment Menarto Chemical Co. Angeniero Word Molerola Inc.
National Carh Roe. "A
National Dairy Prod. 62.04 National Lead 101.24 National Steel Corp.
65.14
New York Central 100.77 Norfolk Western Ry
Olin Mathieson
Otis Elevatore
Owen-linols Olasa
Pacte Gas & Eis
Prn American Airway
Paramount Picture
10 Penny J. C. Co.
20
$13
2B
31 Parke Davis Co.
American Cabin & Radio
Fair
Corp.
4
American Cyanamide Co.
Ams & Forgn. Power
14
Am. trake Shoe
47
Ant. Gas & Flectric
ing. London, Sept. 10,
Liquidation was well absorb- A renewed advance in
ed at lower level but only small British Governments and aInterest for lower sheets. minor boom in German factory enquiry and the mar
closed bonds provided the best fea-ket
baroly steady. tures on the stock market No. 1 rubber
Futures:
Sept today.
Oct, German bonds shot up at the No. 2 rbber per l, Sept. opening on the reported debi No. 3 rubber per tb Sept
ner 15.
0714-43 801-892- 38-Ca 83-014
an13-82% 00-100
Am. Moch, & Fury. American Melki American Smelting Am. Sugar Ref. American Tei & Tei
repayment plen, and closed with No. 4 rubber ner Ib. Sept. American Tub. "B"
33.43
35,32
a general advance ranging, over five points.
Spot rubber unboled tolanket crepe
No. I pale crepe
33.37
32.53
32.45
-United Preos, LIVEEPOOL PRICES
Liverpool, Sept. 10.
·Tutu closinga, in pence per lb. were as follows: Old contract
Cotton
Oct/Nov. DeeJan. Mar/Apr. May/June July Au New contract
German (Dawes) 5 per ccal Jumped six points to £125 and the assented five per cent ta 84. Young 44 per cent rose £44 to £225 and the us sented £2 to £155.
Potash rose 10/- to £48 and
cent race three Transport 3 per 23.84-eighths to £85%.
Industrials closed with a de- pressed appearance. Marks and Spencers and Bowaters hoth Tell 1/9 to 59/- und 34/» respec⋅ tvcly.
Unilevers. Tast 2/- ia 90/0, olher falls were around nine
2348
26.10
20.40
20.00
25 B5
Dee Jan.
26.15
Mar/Apr.
28.03
May/Juna
24.33
July/Aug.
27.00
SÃO PAULO PRICES
Sao Paulo, Sept. 10. Cotton
closings, Zuture cruzeiros pcr follows:
klo
wefe
15 05
in па
fum
Set Det.
Dec. Mar. May and July unquoted . In the United States the average price of one inch colton at 14 designated spot markets was 33.21 cents.
Total sales were 20,657 bales. -United Press.
ADVANCE
ARRIVES
Contract No. 4 (world)
4.20
4.30
4,03
PARTY
4113
4.04
02
Spot (ients per 1b, dras Cuba) 4.75
Open Internet: 6.054 contratan,
Contract No. 6 (domestic) November
k
November
Spot cents per . et NY ex-
Onen Interest: 837
contracts.
6.65
5 20
The West Germans have growth that the accepted an invitation to visit United Press. Government claimed in its industrial plants and will travel budget,
10 the northeast before buy
He moved the traditional gretment is signed.
forin of ecfisure motion that
the first item in the estimate be
The date of the next formal
reduced by El and that the meeting has not yet been decided
Government be Instructed to
correct_unemployment and dent
with her problems
economy.
of
the
Dr. Evatt sald there appeared to be now more than 50,000 ua-
employed in Australis,
Reuter.
Ban On Cars
Buenos Aires, Sept. 10.
Singapore Stocks
Singapore, Sept. 11. Brokers today quoted following stock prices;
дл
London, Sept. 10. 580 The London Chamber of Com- 5.57 merce announced today
advance parly of seven members of a technical mis- slon has orived me from China for a four of British manufacturing centres.
pence.
Intel Prest LONDON MARKET
London, Sept. 10. The rubber market was quiet with spot quoted at 25% penes per lb.
No 1 s pat...........
Settlement house term:
Jan/Mar.
Ansernda Copper Army Steel Armour
Aties Cons. Mintax Bakiwin-Lima-am. Baltimore & Oltio Beneficial Finance Bendix Aviation Corp. Bethlehem Steel Pesquet Cons,
Boeing Airplane
2814-204 Cat Tractor
Penn, Salt Co.
Philip Morris
Preater & Gamble Co.
Pittsburgh Pite Glass klickar industries
33 Pure O!!
03
Rule Comeration Pepsicle Steel
401 Reynolds Metel
Seiru. Boshier & Co.
170hr1
BJ
まい
121
237
52
20%
il co
Saint Her. Paper
Socony Mentio
Solar Aircraft
South Puerto Rico Swaar
Southern Co.
(The) .....
Southern Mallonal Gaz
Southern Hallway (Com.).
Stender Brands
Stepcard is of Cal."
Standard Off of Ind.
Standard O at NJ,
Siero Rack (Tronto Exge.) Sterling Drug Co.
St-kly-Vrn Camp
Stud haker-Prekard CurD.
14% Swift & Co,
2314-2314 | Utuon (T9) Co
GAV
Ocl.
| Nov. Dec.
2315-282
|Burrougha Add Machine 25-235 Campbell Soup Co. Canadian Paciile R.
B144
34
nare
2124-2333
Care
Co.
Apraine
Jule/Sept.
7416-2818 TAK4-2011
2012-2011 General markets, elf hast, porta
| Sent.
2114-279%
Oct. Nov.
24-2312
231-252 -United Press.
Oils cased and closed one to New York Foreign
Two shillings lower,
Coppers provided one or two
apola but mostly closed lower.--United Press.
Commission To Investigate Swettenham Problems
Kuala Lumpur, Sept. 10. that A commission under Sir Eric Milbourn will visit Malaya towards the end of this month to review the labour situation and ad-!
at
"The advance party is in ministrative problems terested principally in textile Port machinery und, under the Federal
auspires of the Sino-British
Swettenham,
government
trade committee, will be visit-nounced today. ing appropriate manufacturera,"
the, announcement said.
Exchange
New York, Sept. 10. Closing rates were:
Canada
England Melat
"
unofficial 30-day' Argentina....
Celanese Corp
E. I. T. Financial Corp. Chrysler Motors Climax Molybdenum Cluelt Probody.....
Colgate-Palmolive Co. Co.
Colombian Carbon Commercial Credit Commonw*alth Elec. Consolidated Edison Continental Oft n? Dei, Crown Zellerbachi Cuban Anier, Bugar Diamond Alkali
Diamond Matchi
Douglas Alterafi
Dow Chemicals
Dupont de Nemours
Eastorn Alskine
Batman Kodak
1.04 11/161 Pas National Gas
2.78 11/32
2.69-2,01 3.
Rams
the unitinfied Pre
London Foreign
Exchange
London, Sept. 10.
Closing rates were:
Now York
Montreal
Amsterdam
Copenhagen
MJJan Osla
Stockholmi zurich
Vienna
2.2014-2.2014
2.6332-2.03.
10.431-10.09.
19.334-19.34
3740-17471
19.9516-19.0332 14.431-14.44
24-45-120k
12.10-12.1034 -United Press.
London Metal
Prices
London, Sept. 10. Prices of melais closed today in sterling per ling ton as fol- lowe:
tho
an-
The Government has asked Sir
Tin spot
3-month
Sinonth
Copper pot
Buyers Sellers
7301
717
737
73746
1972
190 P
101
901
DO
1346
Dec.
United Press.
It is understood that an ad- Eric Milbourn, adviser on ports to the British Ministry of Tron- ditional mission of about 10 technical experts from China is part, lo veit Kuala Lumpur and expected here later this month Port Swettenham, 40 miles away.
Lead ist half Sept, the for a visit to light engineering
Dec 5 Eric is at present in zine ist hak Sept. | End electronic factorles.
Singapore, where he is carrying A spokesman for the
Sino-out a similar inquiry into the British trade committen said working of the port. that after the Chinese missions
Opening Batu Lintang Rubber or $2.623
Syndicate
A bon on imports of auto- | British Borneo Petroleum mobiles and chassis went into
effect today, for an time.
indehalte
The Government's migration policy was not giving a chanet either to Australians or New Australians in getting jobs.
He said the Government again proposed to spend A£180 mlilion on deface, but “wề The move decreed by the have been given co policy defenco."-Reuter.
NAMESAKES
Answers:-1
Zlerfeld,
6.3 Smaltors Consolidated Tin
341 od Ord. Fraker & Neave Ltd. Ord... $2.04 Proser Neava 7555% cum.
pret
Gammons (Malaya) Limited $7.17% on government of provisional Hongkong & Shanghai Bank 2473,
5
Hongkong Tin Ltd,
17.10
Kuala Kemper Tips.
452bd
President Pedro E. Aramburu was intended to strengthen the Rumore Ltd.... falling Argentine eutrocky which at the close of trading yesterday reached a record low
2 or 45.63 pesos to the US dollar, Imports of trucks and truck and bus chase had just been banned for 90 days. Proys,
Rogers, 3 Fleet, 4 Daddy, Roberta, & Entertains, 7 Feet. 8 Broadway. Divorce, 10 Rou- tine, 11 Face,
Fred Astaire.
1 Rubber Estates Ltd. 1.07 Malayan Breweries **** New Berandah ubber
Lid.
Petaling Tin Lta,
have completed their investiga- lo Singapore today, the Ship New York Metal
tions, discussions will be hold to, owners Association suggested at delermine the composition of a sitting of the Commission that return British Mission to China, the Singapore Harbour Board be
United Press.
Exchange Rates
Futures
New York, Sept. 10. Prices of matul futures closed today in cents per ib. as follows: Lend
scrapped.
$3.92
It urged the setting up of n Port Trust which would be self financing and promote a com», petitive atmosphere.
Sept.
13.580
Dd.
unqualed
Zine
$2.73
Sept.
9.501
13.
#2.57
11.10
8.00 18.70
$17.50
Ord.
maana ni
*$1,4235
$5.40
Epecial.
Australian notos (per 1)..... Indrorson rupiahi (per 100).. 11.75 Bitm Boal (per 100) ... Stampson (Biraste)
Shipping and commercial in terests should have majority control, but Government in terests should be represented, the Shipowners Association proposal sald-Houter.
Oct
9.301
Cooper
Sept
Dot.
+1.006
Tin
Fapt. Oct,
11.505
92.500
unded Pres.
D
itaffes Hotel Ningapore, Child Stonego Atas Trading. ............. Strait United United Ennine Wearno Bros.
Duntes Well done in the local ometal exchange market MONTS!IHg, at the following rate: U.B. dalle (per #1) ................... wr.dns | Stadion notas (per 23).
Family Finance Corp. Firestone Tyre & Rubbor Ford Motor
10%
Pri-Buschine Mining
12%
Texas Co.
74%
10"
50%
me Inc.
Tide Water Asm. Qu
Textron Inc. .....
4657 Twenty Century Fox Fini
Unten Carbide
454 Then Oll of Cal
R. Live Co,
pe pl.
Union Paole Railway
42
Tinted Art
47
United Gas Corp.
is
V.A. Fed "p"
23% U.S. Gypsum 42%
JU.S. Rubber
54. Emelling
84U.S. Steel...
183. Steel
135
Waner Bros.
171
Westinziosa Estelzle
30%
Woodworth
5216
Western Union Tel. Co
241 Wert Ve.. Pulp & Paper....
4015
Unlied Pres
TYPHOON MAP
With Latest Amendments
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$4. UNMOUNTED
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