SECTION
ASIAN WARES AT NY THE PRICE
TRADE
FAIR
Now York, May 7,
The
OF GOLD
New York, May 7.
New York Journal of Commerce sold today it could tab little reason for the US Government to Increase the price of gold "and little likelihood that it will."
Ten nations of the Far East participating in the 1958 United States World Trade Fair, which opened today were one of the main centres of attractions, as several thousand officials and guests trooped into New York's vast Coliseum to view the products of 60 nations of the world displayed for buyers and the general public. India, with its colourful dis-turat products and offers out- 10 4 777 50 play of art and handleruft, and standing examples of silver and the tasteful decor of its pavilion wooderafts, embroideries. Batik
inulea, the textiles.
in International business circles chalas, vases. attracted Chrongs, Japanese natlout pavilion, coffee, herbs and medicines and that the price of gold would go
up. "This talk probably together with the various booths even canned Ash delicacies,
The entire exhibit is housed | Nects wishful thinking more representative of Japan's pri-
complete Balinese temple thing anything else," added. vate industry, had perhaps the in largest single exhibition
was shipped from New York.→→ JAPANESE
Our Own Correspondent Business done on the long- Stuck Exchange this moonlig Anointed to Ap- The dip, a not unexpected move, came after carly
$204,000. Noon frinness on volume which had forced report- roximately ing tickers to run late briefly. There was quotations and the morning's
Mhatre Final prices! little pressure to the selling. generally were above the day's lows and acti- vity lightened on the downside with the day's turnover running well below yesterday's 3,110,000 shares.
ut Copper
aireralis, Steel shares, oil, rails, vilties showed mostly gett Meyers Tob. Cu
Lockheed Alterafi Les Incorp... neilonally losses with a few
Lone Star Comment to.
AIDETHEL McDonnell drope of a point or so.
Stuck Exter were sile features, There
a late Met on Cora US. Borax to, with highlight on a rise of more than
point on volume.
Olis Elevator set a new high on a favourable earnings fure- cast.
Th
Mining HT Mamento Choinked D'u Montgomery Ward Motorola inc. National Cash Reg. "A Nusrat fatry Piod. National Tran
National Steel Carpi New York Cential bun Mattagin Qus Elevators
Unet-lihoo
Of a total 1,103 fentes traded, 411 were lower, 427 higher.
New York Stock Exchange volume was 3,770,000 shares.
New
Exchange York Steck Imad volume was $4.8UÐ,000.
Stock Exchange American nume was 1,00,000 shares.
Dow-Jaxy! ciósing averages | Penny 4. 4. Ch
acoustical advises
Burgess Pro- Britain's Mussts ducts, have tlong a fine job, and residents ut Kowloon City will have no sleepless nights while thetruts engineers work on overhauls, n
were;
EXCITA
Mastirs
I hoped to use the equipment 24 beurs a day.
05
40
Siber mus
INTRICATE
The test bed is equipped with Es OW!! triple underground Janks. These are temporary, and when the new layout (the pure- Jetwing is completed, larger tanks aliing 24,000 gallons will be installed. The tankage, present and future. is provided the Shell Company of Hente kont.
Shove kerosene t the tur- nes and petrol (in the piston engines) is used plus a water methanol mixture for bigh powers, the intricate piping in the workshop inetudes turing ul. piston engine oil, inhibiting lls, cooling water, compressed water kerosene, petrol, Ple witamethanol and carbon dioxide,
engineer The young Chinese
|
Fay, fattore price index
Closing Prices
Allied toe.
Allied Chemcaire Allied Mia ine. Allis Chalmers
A. Brake Shoe
American Aariu
Andrican Estle & Radio Ciru America Cymanki Cz Auer, à Fulgi. Power Am Gas & Electric
Ash & Edy Ameri Melal Auwrican Smelling Am Ruger Ret Atticum Ter & et Ametteun Tob. "' Annevala Vupper Ames Stret
AFTE
.......
All L. MOR 15-Lam-11am. Haitian &
Beneficial Finanes Bendix Avialun L'orp. Benguet Co
Betlehem Stent
The Chinc Engineer in charge of the equipment, Mr King Howe,
cumpare und
in charge of the test reli is Mr Hord xinlar installations anywhere in "TH WOŊd.
It is unique since the to- King Howe, a product of Shang bed can be adapted to service haita Utopia University and the Turbo-jet engines as well as the Far East Flying Training School Piston modeis, Another wing of Hongkong. will be added to the building la, with HAEC the near future to take pure joyens. cogines.
A FEAT
"I think."
Commeture
HAEC
Aeroplate
T Cu.
Campbell Soup Co. Canadian Pacille R. Case. I. Co Cas. Tractor lie has worked
Cranese Corp. for the last eight
Financial Corp. Chase Mantial. Bark
commented Air CHINA BUILDS A
T.
C. Dickens,
al
the
"domestic christening yesterday, FREIGHTER
that this engineering feat stands
one of the finest compliment
to our technicians here in Hong- The Colony is an up to
Bat.
date in the aeronautical field as
my other place in the world,"
A
The HAEC project was insti-tons,
Katerl
by the
Paris, May 7. STEAM freighter with
Was
overhauling Lushun-Dairen
necessity of Hongkong Airways was the first cargo vessel of Vickers Viscount alreraft, which such a size to be built are led with the Rolls Royce Dat engine, But the test cell Chinese yards, the New
Chrysler Molers Chuett Peabody Colgate-Palmolive tu. Colombian Carbon Cereal Credit Contrawealth Bee. Consolated on
Olt Del.
Cunlinedernach Crowen Cuba Aner. Sugar Diamond AIRSH Diamond Mete Douglas Aircraft Dow Chemical Dupont dr Neuaur.
Easter Airline
Kastinan Kouk
LAR.
אים
transactions were;
BANKS
Buyers Sellers
773 *100 263
72 14
Kater
Bank Union XD Winlocks
ન રમેશ
SHIPPING
*.03
613 2.000 or 0.03 23.10.19
DOCKS, ETC.
E. Whurt..
162
Duck
40
41
Fylket (0) 1850 11.50
LAND, ETC.
Su 201
30 40
2000
HK Holes 15.1M) 10 x1,000 12.00 La 360 32.73 4354
Realty
Amain.
and
exhibits fea- The Japanese
hequer Ware. textiles, tured
and de- porcelains, chinaware corative vases, lamps and other huma accessorías.
A focal point of interest was 24.50 the exhibit of Japanese comeras, 2480 sewing machines, bicycles, hi-f
equipment and other products;
spectalised 200
of Japanese
1.000 30.00
1.50 1.46
RBBKIT
1.35
1.40 3.00 1.50
125 135
Hila
A Towel..
1.033
UTILITIES
44
Tratt
24.70 24.90
200
330
51
Star Periy
!11
213
Youman
55
C. Light X
17.20 17.00
99.30 300 19.60 000 17,53
Kilass
Ekcitie
... 20,00 20,00
300 & 20.90
500 .500
Oxford Paper Co.
Puelle Car & Flee
54
Pen American Airways Part Fitnes Parke Davis Co
15%
Telephone INDUSTRIALS
1
* 20 3.40
22.30
2300 25 40
STORES, ESC.
Bo
Dairy
10:30 18:35
X309 LE
50
14.00
30 10.70
2
1. Chaw
Sinceres
155 14 20
3.55
1,909.3.53
TIONS
33:
Textle
331
IDDYORK ...
4.326 4.373
15.43
$50 $523
74
MISCELLANEOUS
A
14.40
INVESTM
20
Yangisze
3.35
1,000 / 5.4
얼마
Allied.
440
329
Sumpalo
1.30
Inda-China
Divi. Pref.
17!
Det. 10.
Bonus Def. 7955%
Pean, 5:81 (
402 Adip Morts ***
113 94ter & Gamble Co.
77 Pietrarch Plate Glu
250 49
10
1552
Pubileker Industries
j'ure Ol
Radio Corporation
1. C'atja. Pref.
Republic Steel ...
Stealeolus Sett
St Bertuck & Co.
20% Shell O
Sinclair Oil
P24 Shasta Porto Rico Sagar
Ram Re Paper
Socory Mobilo
44
Solar Alterati
AVA
South Co.
The
AUT
Southera National Car
ION
Suoisern Hallway (Cont. I
4474 Storittura Brand
उनक
Standard Oh at al
201
Standard Ohi of 14.
34%%
Standard Oil NJ.
2014
Steep Reck (Tarant Expe
175%
Storing Devp On.
8330
Stokely Year Cany
Studebaker Packard Corp.
7 X
14
A
1005
Sunshour Minirk
Swift &
Texas Co.
Text Inc.
201 The Water, Asia, Oil
2013
Watron
dustry.
In-
The Inmed Japanese cultured pearls made another attractive and popular display. other centre of interest was the
and an-
Huth exhibiting transistors and which have traistor radios.
X 16.44 218.40 reently regtved vast publicity
Singapore Stocks
Singapore, May 8.
quoted the Brokers today foluiving stock prices! Hatu Lintang Rubber
Opening
Co.
#427x6
Tune in
612
4045
Twentieth Century Fox Fib
1
Union Carbide
4014
Walon Olaf Cal.
Brush Borne Petrole
Syndiele Cursedated Tin Smelters
Ord,
$1.00
17/-
27/-
Union Paclite Ralway
2914
6714
United Airera/i
024
& Neave Ltd, Oru... Fraser Neave Flate CHE Farer
RATI
Vinisol-Das Katu
pref.
$4.03
24
U.S. Full “13′′
US. Gypsum
iz Hongkung &
Stanglini
IB
U.S. Line Co.
Banking Corp.
$40
Hongkong Lidl,
5/30
Kipas Lid. .......
$1.321
Kuala Kunpar
Malayan Breweries
$3.001
101
New Serandah uber Cu.
92.47%
Petaling Tin L.
$1,37-
United Press.
44% Raffles Hotel
Singapore Cold Storage
30.30
Straits Tending
$1.60)
Strap P
$0.87
03
16
51
US. Steel....
493
40
Westinghouse Elretrie
Sin US, Rubber
US Smelting
Whiner Bros.
Western Union Tel. Co
West Va. Pulp & Paper Woolworth
Lunar Rubber Estater Lid, $1.03
New York Metallers Ord.
Futures
New York, May 7.
Pelces of metal Futures clused today in cents per lb. as follows:
-wrights.
Mail Special,
KONS
$2.022
£1034
texana
Exchange Rates
Business was done to the facel unofficial
this exchange market
5.10 10.14
1 the United States,
INDIAN
. In the Indian pavilion were beautiful handboys ant ex-
which Djakarta France-Presse.
to
NEW YORK RUBBER MARKET
New York, May 7. Rex rubber futures today closed unchanged to 20 points higher with sales of 25 contracts.
May
July
Hept.
Nuv.
Jal.
Mar.
May
24.50
24.0
24.RO
34,81
24.70
24.70
24.70
Featureless conditions pro- valled on both the terminal spot nuurkeis. Domestle
qusite sarle as well as engraved bracswire, Incquered wares bud
The financial dally ack. nowledged that there was talk
TC-
en-
have been Rumours couraged, it said, by "a large und rather sudden outflow of gold from this country. casioned in large measure the moves banks
holdings."
pc-
by
of foreign central facroase their gold 11 said that 600 million in gold had left the United States this year-at Fanual rate of 3,000 mlillon.
SPECULATION
07
Another factor, the editorial said, Is that the economic reces- sion has encouraged
on that the US dollar may be pehred.
specula-
"An Increase in the US gold price would, of course, raise proportionately the value of foreign gold reserves and ald such goil producing countries or the Union of South Africa, Canada and. internationally enough, the USSR," the Journal
and allver-filigree jewellery, consumers still operated on a of Commerce said.
The beautiful craftsmanship hand-to-month basis, Shipment)
allentiorf,
The
with was negligible,
46 an
of the sandalwood and walnut business
"I would also up the dollar products come in for speelal prices s mostly too high to value of US gold reserves and
Interest local buyers.
Luister domestic production, anti-recession alts and
few sales reported in- But, The Philippines crafts made another attractive cluded a fair quantity of three measure for the home front it of Thalland, May/would do little good and could course Manda sheets out display and of
In June shipment at 224 celīts, do considerable harm.. hemps were prominently
freight. No, 1 Res evidence.
Vietnamese han loomed really was quated at 244ents, vantage in devaluing the dollar "No de wo see my ad-
as a means of proinoting our foreign trade.
silks and cotton textiles as well
were
art objects as delicate excused in ulta-modern_decor built and designed by Rusteli Wright.
Thailand and han contributed
Woven
Most and
Homtoal.
AMSTERDAM
The rubber market was quiet, Frices closed today in guilder
kilogram,
May
per
a splash of colour with hand-follows: fabrics, hand painted accessories and naturally the world-famed Persian rugs.
ware
KOREAN
No. 1 rubber
No, rubber
No. 3 rubber
No. 1 crepo
SINGAPORE
2.03 num. 2.00 лот. 1.Bộ namh. 2.20 not.
The market opened lower in
The fact is, in this particu. for acid a gold price increase would collide head-on with tho basic foreign economie policy of the administration.
"One of our nailonul pro- blems is to find ways of ac |commodating micro imports to offset our stendy export surplus, Foreigners already find it hard and enough to sell here, and if
they cannot sell, they
cannot moved huy-nut unless Americans are
willing to underwrite more and more foreign ald. Devaluation of the dullar would merely, ac- centuate this difficully, too."
Korean art objects and brass-
provided an rye-filling sympathy with overseas exhibit and much Interest was after some business at lower
records levels the market shown in phonograph made in Korea, featuring na Irregularly upwards with small
business passing. Honal music.
The Indoneglan exhibit dis- plays a complete line of agricul-
New York Sugar
Market
Feir business was reported in lower sheet and offgrades on covering.
In
there
During the aftern.000
The editorial concluded: "Our VES further shorl covering, guess would be that the chances caused by possibility of estate of a gold price Increase which workers strike Federation, stood, say, at one in a thousand Futuris:
fen years ago, now stand at og Tuch na bne In 998."-United Press.
No. 1 rubber per it. May 789-7214
Jie 11-72
No 2 ribber per Ib. May - May 03-04 iu rubber per i No. 4 rubber per in May Day?
671207! No. 1 rubber, spot unbulød Flagked prope
Day-002 70-18
New York, May 7. 12.46 World No. 4 sugar futures Nu. 1 pale eve
lante{ v
El Paso National Ga
Lepsi
May ................
10.761
today. It
Family Finance Corp
July
20.7511
Firestone Tyre & libre
Zinc
Mar
8.201
Ford Motor
N.30
in
General Foody
General Electric
Cupper May
23.112
Tin
July Mev
23.361
Gen. Pab, Ull
July
13.300
re-
Getty OB
Voited Pr«:56.
meaning at the following rates- U.S. dollar (per 1)........ Starling Boles (per £11... Australian nutes (pre 20 Indonesian rupiah (per 10B). Slam Deal (jær 10 Singapore (Straits)
3 ว
20.10 1.80
Codes Co.
Godrich 10. F. 10. Goodyear Tyr
WIR but with an eye to the China News Agency future when other airlines sported.
#xpected to bring wat turbo-jet
and pure jet aircraft,
The Peale No. 25 cargo ship,
The teaf cell has a copability wholly designed by Chinese wi-
of lustling engines of powers upgineers. Is built by
to 10,000 horse power, A novel feature of the "bed" is that, by
a system of torque renelon, it
I able to accurately measure the developed horse power as
heck on performance.
the Dairen
Shipbuilding Company,
Geneva Motors
Beyden Newport Corp. Hintake ing co Ingersoll-fland Inland Steel Ca Sais China's In
I will ply between major seaports md ako betwen Chin and Southeast Asia. France-Presse.
Air Commodore T. C. Dickens, HAEC manager, pointing out salient features of the Company's unique $1.5 million aircraft engine test-bed which was officially opened yesterday. In the background can be seen one of
Machines
International Nivitel TUTO & TV
John-Manville Ca.
Kansai C. Power & Light
the "balls" which allow air (nscessary for the running of turbo-jet and pure jet engines) to flow freely, but effectively soundproofs the roar when an engine is being tested--Staff
Photographer.
31.750
The New
York
Cotton Market
New York, May 7.
today closed unchanged
to ona point higher with sales of 99 contracti.
Domestic No. U sugar closet unchanged with contracts.
sales of 128
Both markets ruled qalet and mixed with most traders mark- ing Ti awaiting raw market developments or other new in- centives.
Cotton futures today opened steady and kept sept.
LONDON
The rubber market was in- nctive with spoi quoted of 1/10 lgher at 21 3/10 pence per ib.
Prices: No. 1 spot
Settlement home term: June
ير العدل
Oel/Dr
Jan/Mar.
Auri/Ju Cenedl markets.
MAY
Estate erép
211-211
1-211
12-16
2
cbki
June
Contract No. 4 (world)
liin las
gradually adding to initial gains for the rest Mar of the day.
Juty
Oct.
3.49
thick Jun
2.14
1-2100 porta
21-3144
2243 United Press.
3,38
May
237 3.40
Spot-icent per l, fab Cuba) 341 LONDON STOCK
4.78
в.та
5.00
6.78
blind contracts....
July
Open Interest: 0,301 constancia.
Closing near top levels for Raw cotton exports today the session the list was ap 11 totalled 6.300 bales, bringing Contract No. 0 (domestic) 27 points net. The market total for the seacon to 4,447,754 | July opened whanged to up bales versus 6,085,391 bales last Sept.
Nov.
points New Orleans closed up year, according to the New York Spot-cents per 1b. clf NY
Dex=ditaty} 14 to 20 points.
Cotton Exchange,
• Open Interest! 2,104 Month
Volume Open interest United Press, Unfavourable
crop highlighting a long range fore- July cust for continued wet and cool weather over wide areas of the south, bought in covering by re- cent sellers,
news. May
7,200 1,000
28,200
204,300
Oct
10/20
242,700
Dee
10,000
189,000
54,700
May
2409
175,000
July Oct Total
7.200
101,700
13,000
40,000
83.500 1.447,200 betra
NEW YORK
Crop experts stressed the im- for a pro- perative need now longed period of dry and warm weather.
the
Covering operations in noarby May delivery added 10 the upside momentum.
Other buyers were impressed by Agriculture Secretary Ben- son's warning that without change in the farm law,. tho
London Foreign Exchange
London, May 7.
Closing rates were:
New York
Prices of cotton futures closed today as follows:
Sput: 30.06: May: 30.09: July: 3444: Montreal Det: 30.30; Doc: 37 29; Mat: 37.00: Amsterdam may: 370; July: 30.62; Oct: 25.45 Brussel
NEW ORLEANS
Prices of colton futures closed today as follows:
Spot: 34.05: May: 2500; July: 2018:
Paris Atockholm Vienna
201-1/10-11-3/16 10.5844-10.537 130274-139 32 20.0011-20.0114
1701170
Other unchanged--Unilodi prent.
MARKET
London, May 7.
Stock market was on the
down do today because
US Export Increases
Washington, May 7. US expor irade increased sharply from February to March the bat remained well below same period of last year, the Commerce Department reported. 10day.
The preliminary estimate for March exports was $1,504,000,- 000--10 per cent above February but 17 per cent under the all- Lime record 'total of $2,151,000,- 000 for March, 1957.-Called Press,
Melbourne Wool Sales
Melbourne, May 7. Continued lack of interest in bast alyle merine and fine como
of the bus strike and the back wools disappointed sellers
weakness of sterling.
Geelong sales today
Wor Loan 28/- to £64%, 4 competition
but
WIR strong for
per cent Consols 15/- and Old average to good merino forces. [Consola 12/6." All closed at the
Main buyers word Eastern day's low but within 20 minutes Europe, Beltain, Japan and after the close of the market, Australian mills with top prices beavy buying of sterling-ap- | marino at 90% pence, pome- parently from New York-lalt back 82 penee and lumb: 130 ed the decline and lifted the pence a poând.—Uplied Prez. dollar rale frem 2.81-1/10 to 2.81-9/16. Sterling is #101 above Its dollar par of 2.60.
Leading industrial were in- arlive. There were numerous declir of Ed or pd.
cotton acreage in 1980 4,000,000 3185 37.65: JANE: SELLE. New York Foreign all down by 1 or
back to around Oct:
acres. This year's ncreogo allot- ment is about 17,700,000 acres. May contracts moved above the 30-cent line, the highest level alneo late March. month trading will Tuesday.
SAO PAULO
Prices were unquoied today. In the United Blates, the Spot | average price of oneslich cotton end on at 14 deadgnated spot markala One delivery notice was 34,65 cents.
The open Issued today. position in May was down to were 24,400 bules, while the certif- Press, cated alock remained, at 21,950 bales
was
Exchange
were virtually
London Metal Prices
London, May Ti 2 shillings.
Prices of metals closed today Germans were steady with in sterling per lang tan
the Young Lonn non-asseeriod follows:
up 1 and the assenied up
£14, the anted of the 7
per cent Potash cose %. Only Tin pot,
4-month 1.00-1/24 movement in Japanese was in Copper apol
New York, May 7. Closing rates were:
Conta Total salen at these markets England official
balen—Ünited | Holland. 11,000
Brazil Note: Liverpool cotton prices were unavailable,
Olen unchanged,—United" Press.
Argentina
days
3.800/16
„2012
oong
0610
the 1980s which foll £4, both a-month
avented
apd
non-dented. land ist half May Dollar dtech's premium was UP, zino ris-kas MY
1 per cent to 8 per cent. -- Unliod Press.
ANE
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