1958-08-20 — Page 5

London Holds Up Well

London, Aug. 19. Stock markeis held up well today and shrugged off the overnight reaction in New York. The markets were firm, undisturbed by profi-inking sales.

Gilt-edged zecurities were firmer and the bank share sec- Ilon was bright. Investment de- mand for gills, however, was 298 rather subdued but the featuro 2014 in this marjeet was the raising of the government's top price for Exchequer 535 per cents by 1⁄4 215% to 101 One or two of the isnes Cased fruc~ 30 Lomally but short-dated itsuen

1103%

10112

long-dated

Boly were drm,

49

371

01

In foreign bonds GemaNS continued in demand and Were

100xd up to 14 higher, Dollar stocks

were lower.

4011

1146

3244

351

U

Miwion Development

231

10304 Manranto Chemical Co.

78.12 Motorola ine.

120.00 Momenery Want

172.77 National Blacuit

00.49

367 Notiottel Dairy Prod,

441%

National Steel Carp.

New York Central

107;

Norfolk & Western By.

North Amer. Aviation

31

844

North-west Airlines (Con.

174%

38

Qin Mathewin

253

201

Quis Elevators

102

Owen-Illino Glass

12*

Oxford Prber Co.

49

Pactic Gas & Elec

Pan American......Airwaya

Perr. Salt Chi

Phil MorTİR

Procter & Gamble Co.

Flishurgh Plate glas

Publieker Industries

4344

Paramount Pictures

106

Parke Davle Co.

Petiny C. Cu.

43%

Ain. Sugar Ret.

|

Au

American Tel. & Tel

15227

120 2040

American To, "B"

07

Pure Oli

491

Radio Corporation

Radio Corp. Pref.

18

Republic Steel

31% 22 1330 15.30

10%

Reynolds Metal

1214

143

Baltimore & Ohio Beneficial Finance

35%%x

Sears, Roebuck & Ca

Shell Oil Co......

237

1345 1.075

Saint Reg. Paper

1573

Isenix Aviation Corp.

ST

Sepair O

2.15

Denguet Cond.

Boceny Mobitoll

1.90

195 2000

1.05

Belcher steel

444

Boeing Airplane

ક

Bouth Puerto Rico Buar

恋品

Borden (The) Co.

7212

1000

231 10:00 5

Bunoughs Add Machine

Calif. Packing Corsa

10. 201

Campbell Soup Cu

0415 031

Canadian Pacific It.

to

3005

13.40 17.00 17.40

1550 17,40 27.28 27.40 1000 0 21:30

STORES, HTC. Dairy

Watson

16.02 L CONS

12.51

Nanymat

23.20 23.49 100 255

meno 23.30

500 23.0

50 25.30

100 2 $3.30

22190

17.10 17.30

10.50

13.20.13.40

6.03

20.00 | INVESTMENTS

1.00 father

GUT

100 17.00 1000 17.20

2000 17.20 103 170

Cow (1) Co. Cat. Tractor

·Celatiese Comp. C.1.1.

nat. Bank

• Financial Corp. Chase

Chrysler Motors

clue Peabody

Colgate-Palmolive co

Colombian Carbon Co. Commercial Credit

301

Solar Aircraft

Southern Co. (The

Southern National Gay Southern Jailway (on y

Standlord rands

Standard Oil of Cul

Standard Oil of Ind.

Standard Out at N.7.

Sleep Rock (Torontu ER.) Sterling Drug Co.

Stokely-Van Camp.

Studebaker Parkali Corp.

Bunshine Mining

SWLI LI.

Texas Co

Tel-Cont. Warrants

Twentieth Century Fox Film

Uulon Carbide

Commonwealth. Elre. Consolidated Extimon Conlinemal Oil ut Del

30a

Textron Ine......

Tide Waler Aran. Oil

DAY

Time Inc.*********

Crown Zellerbach Cubon Amer. Sugar

2000 5.93

Diamond Alkali Diamond Match Co. Douglas Aircraft Dow Chemicals Dupont de Nemours Eastern Airline

1000 0.08

COMMODITY PRICES

FOREIGN EXCHANGE

NEW YORK

Closing rates were: Englared official

T+ 30-day

B0-dyz

Other unchanged.

LONDON

Closing rates were: New Turk

Montreal Bri Frankfurt Paris

unqueteri

2.793

2.8016-200-9/19 2.701-2,70-0/10 13086-139,00 11.084-11.631 117246-117212 14.4315-14.4336

Stockholm

Other unchanged.-U.P.I.

COTTON

NEW YORK

Priers of cotton futures closed today as follows:

Spot D.- Dac

Mar.

Mny

July

Oct

Dec.

NEW ORLEANS

38.40 nom. 36.11

31.20

16.20-30

36.10

35,10-11

اد

37.10-17

Del: 49.70; Dec: 30.50; Mar: 50.00; May: unquuted

the United States, the average price of one-inch collon at 14 designated spot markets

was 34.85 cents,

Total sales were 0.893 balcs→→→ U.P.I.

RUBBER

NEW YORK

Rex rubber futures Today closed unchanged to 15 points higher with sales of 28 contracts,

Closing prices:

Sept: 28.30; Nov: 28.13; Jan: 20.19: Mar: 2008: May 27.00: July Sept: 27:83.

AMSTERDAM

METALS

NEW YORK

tirion Oil of Cal

Union Packie Railway

GAT

United Aircraft .....

193

United Gas Corp.

2005U.S. Foi "B"

Prices of metal futures closed

today in cents per 1 as follows;

Lead

Aug.

Sept.

Zinc

Aug.

Sep1,

Copper Aug.

Sept.

Tin AUR. Sept.

LONDON

V.8. Gypsum

V.S. Rubber

V.S. Line Co.

U.S. Smelling

U.S. Steel

U.S. Steel 7 P.C. PP Warner Bros. Konkr Westinghouse Air inko Westinghouse Electric.. Western Union Tel. Co. West Vn. Pulp & Paper Woolworth

Industrials

Industriale presented a dem front. Among the leading equi- ties Imperial Chemicals were up on investment buying and British Oxygena, Tumer and Newall, British Aluminium and Unilever were a penny or two higher. Steels continued dirm,

and several good spots were among engineering.

Fees

Gold slams after initial hesi= iance rolled on the appeariner of buyers. Coppers recovered some of their early falls.

Oils moved within tstrow limits and closed with le material change. Royal Dutch was unchanged. The setback on Wall Street yesterday wes largely responsible-U,P.I.

CEYLON TRADE

WITH CHINA

Colombo, Aug. 19.

The Governmeal warned to- day that Ceylon's imports from China

4% | while

BA**

arc zooming steadily its exports are logging

seriously behind.

The Department

of Com-

4% modily Purchases maid a recent

Af survey

GOT

401 Variety

hows that "a wide

of Chinese commodity

A goods have found markets in

Ceylon, some of which are com-

11

14

ay originating

10612

402

peting successfully

from

|sources,"--UP.I.

with goods traditional

Czech Contract

New Delhi, Aug. 19. India today signed a 100,- 000,000 rupee (about £7,500,- with Czecho- 54% 006) contract

slovakia for the supply of machinery and equipment for n proposed state-owned foun- B4%) dry AL Bihor, northeastern

India.

3827

TI

140

201

20

Under the contract,

01 technicians will

prepare

Czech the

of erection Reuter.

the machinGTF.---

24 project and superviso the

471% .P.I.

THE ROUBLE MAY

BECOME A

0.871

D.

8.429)

6.02

26.00b

WORLD CURRENCY

26.15b

03,250

1.2515

Washington, Aug. 19.

Prices of metals closed today The possibility that the Soviet rouble may be

in sterling per long ton as fol- lows:

28,10:

Тіл

Was

The rubber market steady. Prices closed today in gullders per kilogram, elf Sept.

as follows:

No. 1 rubber

No. 2 ber

No. 3 rubber

No. I crepe

Spot

3-nonth

Copper

Spot

3-month

Lead and half

Aug.

Nov.

Zine 2nd hat!

2.27 buyer

223 rubber 2.16 buyera

Aug.

Nov.

7.46 Buyer

SINGAPORE

After opening around yester day's closing levels the market cased slightly on some Federa- tion liquidation,

Prices of cotton futures ele ed No. 1 rubber per-lb. Sept. 80%-os today, as follows:

ואנלי

De

May

July

Oct, Ded

of

Oct. 1-10

10.30 No. 2 rubber per lb. Sept. 1874-701

No. 5 rubber per ib. Bept. 74175 No. 4 rubber per b. Bept, 70-201 Spol rubber unbeld.... 791-003 Blanket crepe

30.50

cais

35.10

No. 1 palo crepe

BT-30

$2.04

20.10

LONDON

in

Buyers Sellers

73015

Trit

729

203316

20

63 634

SUCAR

established as an international gold convertible currency is being discussed in financial circles in Washington, following the recent publica- tion of two articles in the USSR by Vice- Premier Anastas Mikoyan.

Mikoyan indleated that they Africa, would have gold slocks rouste will eventually become inrge nough to allempt n an international currency. limited convertibility. It Moscow Experts here emphasised that should decide on such an opera-

in this steps taken

direction tion, however, it would first would not represent any dan have to settle a number of Im portent and delicate problems. future ger in the foreseeable for the doilar or for sterling at

PRICE STRUCTURE present, the two principal inter- national currencies.

CONVERTIBILITY

In particular these relat: to the the differences between Soviel prices structure, Oxcd the state and prices by

of

cЛect of

of Its gold in London in order try's economic offensive to oblak the sterling it needs and trade expecially in rela-

In their view convertibility of Savlet productes abroad which "New York, Aug. 19. -

sce exposed to the the rouble which at present can World No. 4. sugar futures only be limited would be no supply and demand. closed two points higher to three more in the inmediate

fature

If the Soviet Union should of rolse the internationsi decide to establish a degree points lower with sales of 640 than t

economic circles prestige of the Soviet Union. convertibllity, contracts.

It would eliminate the Soviet in Washington believe the move Domestic No. 0 sugar futureation's present steed to dispose will be an aspect of the count closed unchanged to two points The rubber market was steady higher with sales of 380 con- LIVERPOOL

with spot quoted at 23-7/10 trets. Collon future closings, pence per lb, were as follows:

ponco per the Pricts: American Contract

No. 1 in spot 2014+2351⁄2 Det/Nov: 24.10: Dec/Jan: 24.40; Settlement house tenn: Mar/Apr: 24.48; May/fung: 24.33) | Sept.

Det/Dec. July/Aug: 24.5.

Jan./Mar. Mixed Contract

Apr./June Oct/Nov: 14.68: Dec/Jan: 4.20: July/Bept. Mar/April 84.70: May/June: 24.20,

General iharkets, eit waain July/Aug: 24.38,

Aug. SÃO PAULO

Sept. in lost. Colton future closings,

Meanwhile, the banks' share of advances for hire-purchase, which has been decreasing. should rise again. Currently, the ÚCARCELY any contracts for clearing banks' odvances The agreement is subject to

new ships have been placed around £31m, account for only the approval of the British and with the

nulor shipbuilding 1.8 per cent of tolal advances. American governaments. The yards of the world during the The banks will than have a sis

ful outlet for loanable funds as Teade sources say,, however, well as sharing in the profile of So for, the Fainey Company that secondhand values for large their new Investment. has built only one, prototype of standard war-time bullt ships The "authorities," who in the the Rôlodyne. For several have now fallen to a point where recent phase of the interse cre- months, it has bens attempia many buyers are ready to enter dit squeeze were unable to control to obisin a subeddy of £8,000, the market

the groll of hire-purchase finance companiço, should have les dificulty in future it the need arises. Through co-opera-euzeiros per kilo were as fol- crepe ihm Bent | tion with the beals and, as a flown

for

000 to £10,000,000 from the Recent sales of war-time bullt Brillah Government

the Liberty-type ships have shown a plane's manufacture.Franco-alight Increase in value to about Presse,

£140,000-£145,00.

.

tate crepe thick Bept, ..

Darts:

Contract No 4 (world)

Sept: 345 Cel: 2.47; Jim. 3.40; Mar: 142: May: 342: July: 3.43 Sept: 3.43; Oct: 3.44; Sput(cents per 1b. for Cuba: ab: Open inter cal: 6,100 contracta.

Contract No. & (doruesilo)

1

Sept: 0.08 Nov: 63: Mar: 5.62 Sept; 9.72: Spotefcence per in, eit NY ex-duly); 6,77 Open interest: 1,ita contracín.-U.P.I.

+

aid

wo

conclude variou fister- tion national transactioni, It would countries.

Under there circumstances f be a symbolic denson trailer of tlin econojnic

Anuncialin not considered likely that sucht strength of the country which as convertibility would affect rela Premier Nikita Khrushchev saidtions between

to the under-developed

ns declared economie war on other the United States.

It is reasonable to bellevajsettled by ht the Soviet Union.

the USSR and Communist erruntries.

continue These would

to be a clearing system. priwipal the The

boneficiaries 50cond largest gold producer would be the underdeveloped

the Union after

South countries.---France-Prekat.

of