THE CHINA MAIL FRIDAY, JANUARY 19, 1951.
Increase In American Raw Cotton
Demand For Silver
Stocks Register A
Expected Sharp Drop
New York, Jan. 18. Messrs Handy and Har
said man, bullion brokers, today in reviewing the mar- kot for 1950 that demand for silver increased since mid-year and indications are that it will continue to ex- pand.
The silver price in New York
last year ranged from a low of
72 to high and close of 80% cents per fine ounce. The re- unly the calendar port covers
it does not 1950, since Year touch upon the fact that for-
silver elin
spurted cents per ounce here on
11.
Washington, Jan. 18.
A sharp drop in raw cotton stocks in the United States was emphasised in the latest Census Bureau figures released on Wednesday.
These showed.only 6,633,000 bales on hand in public storage at the end of December, 1950, com- pared with 10,694,000 bales on the same date a year earlier.
Cotton on hand in consuming] establishments on December 30, 1050 was 1,000,000 bales, com- parcd with ta
A 1,000,000 bales 90.41
Jon. year earlier.
United States cotton con- December was tons against 73,000
of in December 1949.
From 1940 to 1950, the sun-sumption is tion generally was one of over- 704,000 supply. Siner the middle
non-Communist IDS, with the world, and especially the Unil- ed States, apparently committed to long-term defence economy, there has been growing demand silver. not only in for use of the present lines, but als as
tjens.
Consumption for the months through December was report- ed at 4,400,000 bales, compared with 3,003,000 for the period in 1940.
same
HONGKONG
SHARE
MARKET
The volume of business trans-
New Record Set At Wool Sales
Sydney, Jan. 16.
Goulburn wool At the mics, broken Morluos brought 252 pence a pound, which was a world record. Merino locks sold at the
BAT00 auction for 213-54
world ro- pence, another cord. Greasy Merino sold
Biso for 312-14 pence, world record.
Abalo of comeback lamb's wool, sold at tho Geelong
Loday, sales braught 951 ponce beating the previous world roooni this week by 10 pende Associated Press,
RUMOURS
SEND
Scrambled Closing On Wall Street
Air Force Orders Affect Markot
Now York, Jan. 18. The stock market closed in a scrambled slate today | with only aircrafts and some auto stocks showing any | real strength.
NOTICE TO CONSIGNEES
Consignors per
"BENMILOR"
aro hereby notified that their cargo Je being discharged into the long- kong & Kowloon Whart & Godown Co's godown, where it will be at Comalmoes rink and subject to tho Whart's forms and condition of storage, and where delivery may be obtained
Damaged paciosges are to be left the Cipdowne for examination by Consignes and the Compaña's miri veyors, Mes Carmichael and Clarke, at 10 am. 23rd January, 1931.
Τα
Bonded
General
comply with · thie
Warehouao Regulations, Condenceu mu vo a Revenue
fleer in attendance when damaged dutiable goods are examined.
No claims will be admitted after the goods have left the steamer's godowns, and all goods remaining dirindelivered after the 24th January,
1531, will be subject to rent,
Lasses predominated but plenty of plus signs were tributed through the list,
Military orders spelled the difference that kept the plane and auto makers shares up,
It was the first time in eight straight trading days that the maricet as a whole was lower.
Trading was really brisk only at the opening and moved along at the rate of about 3,100,000. shares for the full session,
Higher prices were Youngstown Sheet,
Willys, Continental Montgomery Ward,
United
All claims against the steamer must be presented to the unders 4th February, 1951, or they will not be recognised.
signed on or before the
No Fire Irenzende will be effected,
W. E. LOXLEY & CO. (CHINA) LTD. Agents,
Ben Line Stekkers, Ltd.,
for Hongkong, 18th January, 1961,
Motors, NOTICE TO CONSIGNEES Boeing,
Aircraft,
Electric Boat, American Tele- phone,
McIntyre Forcupine
GOLD Mining and Gulf Oil.
PRICE UP
CONSIGNEES PER
STATES STEAMSHIP COMPANY
8.1. “CILABLES E, DANT"
Marked down were Bethic- hem. Firestone, Goodyear, Du Font, Eastman Kodak, Santa are hereby noted that their cargo being discharged into the Hong- Fe, Standard Off,
S. and U.
kong & Kowloon What Godown Gypsum
Co's Kodown where it will be at consignera, rise and subject to the Wharf's terms and condition of storage, and where delivery may be obtained.
Dow Jones Averages:
20 Industrials 16 Ralla
Mexico City, Jan. 18. Reports that Mexico is storing gold against possiblo change in 10 Utilities the world price have pushed the Mexican quotation up to US$40 {
an ounce.
Gold opened at this price to- day after dropping 10 points
+
1230
GLO
50 Q (30
71
1
10
UK Hotol JK Land
0.70
34 100 33
Shai Land
1.05
trom the high
UTILITIES
111⁄2
C. Iight
The
C. Light (N)
3,70
to
C. Light
(Bonus)
Firetrie
2315 500 23
Nope
11
Tram
acted on the Stock Exchange this morning was valued at $79,- reported
The half day's business that 825. The Bureau
exports of do- and noon closing prices were as substitute for those metals - United States ready under Government alloca-mestic cotton for four months follow:
through November totalled 1, SHARES BUYERS SELLERS SALES
BANKS 1,227,-
HK Bank World production of foreign 384,263 bales as against silver amounted to about 115,- 672 bales for the same period a INSURANCES
Un son carlier. 000,000 ounces, although there year
Exports for the four-month DOCKS, ETC.
K. Wharf are undoubtedly other alzable
weal to the following Provident but the period Supplies in existence, amount available for sale is countries (with the first figure LAND, ETC.
1950 and no representing
the hand Umited. On the other
Je second figure that for 1049): Sofal
consumption, industrial
HONGKONG SHAGE The United disregarding: coinage require
Kingdom 208,856 inents, amounted
nearly
and 154,542, France 146,211 and 1050,
278,609, Italy 44,955 and 175,- 141, Germany 140,094 and 200,- 605, Netherlands 41,493 and 78,- 732, Belgium and Luxembourg INDUSTRIALS 732, 25,050 and 44,816, Poland 1,123 STORES. ETC. and 11.946, Spain 12,034 and 5,040, Other European countries
326 and 03,257, China
50,927 71,793 and 96,004, Canada 114-COTTONS
Japan 421,559 · and . and none, 60,208, India 3,011 and none, Hongkong 20,281 and 883, and all others
57,127 75,247 and bales. United Press.
to
150,000,000
ounces
Actually, the
total world con-
sumption
wns
undoubtedly
somewhat higher,
It is apparent, therefore, that non- from offerings
being
sources
over
unless
the producers
greater than coming year are during 1950, any expansion in demand can only be satisfied ut of US production, currently ing sold to the Treasury 90% cents per fine ounce.
Imports of silver into New 1950 York
market during
EXPORTS FORECAST reached a fost-war high at Exports 130,300,000
Washington, Jan, 18. 4,000,000 amounted to only
The United States may allow ounces and net imports totalled
200,000 Mexico between
and 500,000 134.400,000
ounces,
ounces.
ef silver available to the worldtion to 3,400,000nt.
market last year.
Watson
Ewo
May
2.30
21 050 m 20.50 1000 20.00
COTTON
FUTURES
IN NY
45.00 nominal
43.93-4195
43.01-43.02
43.04-43.05
49.34
39.03
closing of
point at
the
the market yesterday. drop was apparently due reports from
Washingthed
247.30 83.78 43.32
-Associated Press,
RUBBER FUTURES
IN LONDON
that
U. S. Kold "would prices
not go up. Mexico is
is one of the few en- tirely free gold markets. Reports
London. Jan, 18. published here earlier this
Prices in the rubber futures that Mexico was buying gold with an Influx of frighten- market here closed today as
A follows:-
were week
to have 50 ரர
ed dainst possible devalúa- No. 1 rubber
hedge
tion of the dollar in relation to gold. The rise in gold prices followed.Associated Press,
Saving Bond
Plan In U.S.
Announced
New York, Jan. 18. Secretary of the Treasury John Snyder today disclosed a 39.79 nominal plan whereby Serios "E" Saving 39.39
Bonds that mature this year -39.13
may be held at interest for an- other 10 years.
continued to play the dominant bales of cotton to be exported marketing year In addi- bales already role as the largest single source this
New York, Jan. 18. allotted for
Prices of cotton futures closed This forecast was made by: Messrs Handy and Harman said the silver market in London the Department of Agriculture's here today as follows.
Spot operate substantial-cotton experts today. continued to
A final decision would de- March (1951) ly under the some degree of control in 1950 that had been pend on whether the Govern
ment's target of a 60 per cent October in effect since the war.
in the larger crop this year was reach- December production Silver Western Hemisphere increaseded and on a more accurate est!- March (1952)
needs bout 6 per cent over 1040 to mate of the American
between now and the harvest of 134,700,000 ounces in 1950.
the new crop. Treasury stocks of silver prob-
The Agriculture Department ably increased by 400,000 ounces
another 663,000 2,801,200,000 today allotted during 1050
(of the 3,450,000 total) March (1951)" ounces at the year-end, includ- bales ing circulating coi
coins.
for expert by March 31. The May orders were highest allocation was 170,000 July Foreign coinage reduced sharply last year from bales for Japan. Britain was 1949, and dropped to 1,040,000 allocated 30,000 bales-Reuter. March (1052)' from 60,000,000 ounces.-United
GOVERNMENT MOVE Prest.
to
Chicago Grain Futures
Chicago, Jan. 18.
futures Prices in the grain
closed today
market here
Wheat-price per bustl
Washington, Jan. 18.
The Government took steps
today
to encourage sharply
MBY
July
NEW ORLEANS MARKET
Closing rate
Spot
4150 nominal
$3.49
43.45
42,90
October December
May July
40731
30.03.-30.07
50.70 bid
33.40 bid
30.01 bid
United Press.
larger production of extra long New York Sugar
staple types of cotton for stock- piling under the defence pro- gramme.
This type of cotton is used principally in making strong
Futures
New York, Jan. 18.
thread and carriable materials Domestic sugar futures No. 0 needed by the armed services closed five higher,
The Agriculture Department March announced
it will support grower prices of this type of July
September
5,49 bid
5.45 tud
5.50 bid 6.50
cotton this year at favourable World futures No. 4 closed levels. It was not supported (three to 17 filgher.
last year;
March The cotton to be supported is May Juty amsak and plma 32, varieties September
American - Egyptian long sw might apot
as
follows
Spot
December
March (1951)
Bay
July
2.1332 2.6312-14 2.3742-12 2.381-238 of
Corn
staple.
Spot
December
March (1051)
Moo
July
Oxte
1.743%
1,77 1.73/2 1.5632-35
0571
1.7594-15
The Department sald a crop
of at least 75,000 bales is do-
December
March (1001)
001-12
New York four-per 500 lb. sucit. $13.00.-United Press.
Offers Of Copra
New York, Jan. 18.
sired. It estimated that not!
$296-07
3.00 nominal 6.07 5.05 nominal
Amandated Press,
per lb.) February
| March
April/Juno
July/September
(in centa
October/December
014
2015-01
69 -50K 5031-8722
32 -5212
48 nominal --United Press.
SINGAPORE PRICES
London, Jan 16,
Damaged packages are to be left in the godowns for examination by Consignees and the Company's aut veyors, Mesors. Carmichael & Clarke at 10m. on the 22nd - January, 1951,
the General To comply with Bonded Warehouse Regulations, con- zignees must have a Revenue Officer in altendance when damaged duti able goods are examined.
No claims will be admitted after the goods have left the steamer's godown, and all goods remaining Undelivered after the 23rd January. 1951, will be subject to rent.
All claims against the steamer must be presented to the Under- signed on or before the 30th Janu- faty. 1031, or they will not be re-
cognised.
·
No Fire Insurance will be effected.
DODWELL & CO. LTD. Agents
Hongkong. 17th January, 1951.
Prices of rubber futures closed NOTICE TO CONSIGNEES
here today as follows:- Number 1 rubber, per 1b.
January
204-200
107-108
Number 1 rubber, February Number 2 rubber, Janusty 108-200 Number 3 rubber, January 103-104 Number 4 rubber, January 180-187 218-210 Apot rubber, unbaled
160-182 Black crepe
216-221 No. 1 pate crepo
United Press.
/ "AUTOLYCUS"
Damaged cargo ex this vessel will surveyed by Messrs. Goddard & Douglas at Holl's Wharf from 10 a.m. on January 10 and 20, 1831, and consignees are. requested to have their representatives present during the survey.
BUTTERFIELD & SWIRE
LONDON
TIN
Agents
Hongkong, January 18, 1961.
MARKET
was
London, Jan. 18. Speaking before the Now The in market was steady
Turnover York Board of Trade, Mr Snyder this morning. said thirt instead of holding 250 toss, Including 100 tons for present bonds with the interest spot. automatically extended, holders Prices closed today could elect to turn them in for end of the official cash or exchange them for a session as follows :---- current income savings bond of Spot to buy ou Series "G",
Spod tim tayéte
at the morning
1958
1200
1223
Necessary legislation to put Business dopo at
1.200 Three-month's tin, buyers. this three-fold plan in effect will three months. Un, gillers be required immediately, Mr Business dono at Snyder said.
Under one of the options, the "E" band would be extended automatically, bearing interest
Settlement
1.221
-1915-
--United - Press.
at the rate of 25% per cent for Bank Of France
the first 7 years, thereafter, at the same rate suficient to bring the aggregate return for the 10- yeur extension period to 4.0 per cant compounded. — Ascociated Press,
"Quicksilver Market
Unsettled
New York, Jan. 19. Tho quicksilver market was unsettled today following word that Spanish producers had
more than 10,000 bales would NEW YORK BANKased their prices, US440 a fluss
be
without special produced price incentive,
The
that Department said while exact support mates could not be announced at this time, level averaging around US 1.04 a pound for Grade Two, 1.5 inches in length, with appropriate deferentials for
Sellers offered copra for near-other grades and staple length, by shipment at $257.50 per short would be required to obtain the ton, CIF, the Pacific Coast desired production Associated
Press, United Press.
"Point Four" Aid
For
Saudi-Arabia
Washington, Jan. 18.
QUOTATIONS
New York, Jan. 18. Closing bank quotations; Bank of America 25% bld 273% asked.
Chase National 38 bid, 40 naked.
National City 46% bld, 48% asked-Associated Press.
New York Metals
Now York, Jan, 18. Prices in the metal market here closed today unchanged with the following exceptions:- Tin, Grade A (00.80 per cent or higher) Now York, per ib. 176 United Press:
Mr Henry Bennett, technical co-operation Exchanges In NY administrator of the Point Four programine, to- day announced the signing of a general agreement for technical co-operation with the Kingdom of Saudi-Arabia.
New York, Jan. 18, Foreign exchange: Holland 20.28 cents. Olbers "were unchanged. Associated Press.
Exchange Rates
Ho mid the Saudi-Arabian! The State Department; in Ita Government already had announcement, paid tribute to quested tochnical aid in reclama the efforts being made by King
Tutaliens was done, in the local tion, Irrigation and underground Ibn Saud to develop the king-
dom declaring, that the ruler unofficial exchange foarket water resources development.
had been taking progessive steps stering noto (par C).
mory at the following rabensin da 10.42 He also sald un neral survey to develop his country and im US Cole (por. of the country's resources (waa prove the standard of living of Indoorste mulders (per 100)
Gam tione (por 100) Singapore (Shemale) Fires (per 100)
́being plannedi
the poopin We currently devoting American co-operation (also sought to improving more than 20 percent of the
methods of Governant no country's revenues to the catabs, ccounting, Coonco and Customs laiment of public works!! it
procedures.
added-United Press, p
to US$200 at Spanish ports yes- terday.-Associated Press.
Statement
Paris, Jan, 18. The Bank of France statement for the week ending Jan, 17, reads as follows:-
Total gold holiling Fra 101,704,771,243 Total of other cur-
renties
Sight balances
abroad
Advance to curren
cy
fund
stabilisation
Bills 'discounted in
Franta Abroad
Notes In alr-
culation Carrent Accounta
and depozita ...
4,370,040,121
150,757,037,113
153,600,000,000
395,255,009,334
15.070.200.82T 200 140,540,071,101 United Press.
M.V. "LA MARSEILLAISE"
Roundtrip to JAPAN
vla Manila
13 days away
Sailing from Hongkong 26th January 8 p.m.
to MANILA, YOKOHAMA and KOBE.
Arriving from Japan 8th February, 6
1st Class
Tourist
ROUNDTRIP FARES .
HK$810 to HK$97). HK$580 and IIK8015.
Bxcursions In Japan arranged, on application,
11
R. G. L.
ROYAL
INTEROCEAN LINES
• SINGAPORE JAVA FORTS and MACASSAR
"NIKUŴ HOLLAND" "VAN DEUTSZ” ** "TJISADANE****** "TABMAN" • “TJWANGI"
10
to Bugapore & Java,
25th Jan,
10th Jan,
In .In Port
ARRIVALS
Port
· SAILINGS
Send Jan. .21st Jan.
27th Jan...
only to Singaporo, Penang & Deli
only to Singaporn,
soi calling at Singapore.
O MANILA, EAST &
SOUTH AFRICA and SOUTH AMERICA "TOISSEVAIN”
**TIRANAS”
“THIBADAK”
ARRIVALS
„23rd Jan,
39th Jan,
1st Feb.
#vis Japan,
✪ JAPAN
"TJIPANAS”
"BOISSEVAIN" "TJIBADAK”. -
ARRIVALS
....10th Mar.
1st Feb.
28th Feb.
SAILINGS 17th Mar,
15th Feb.j
SAILINGS 15th Feb.
25th Jan.
5th Feb.
Agents: HOLLAND EAST ASIA LINE
• EUROPE við MANILA
and "MALAYA "MELISKEIK” "AAGTEKERK” "TITWANGI”
Through B8/L
to
issued Mediterranean and Northern European Ports.
✪ JAPAN
"MELISKERK” † "AAGTEKERK" +
+ via Manila,
ARRIVALS
4th Feb.
5th Feb,
ARRIVALS
9th Feb,
4th Mar.
SAILINGS 10th Feb.
5th Mar.
SAILINGS
11th Feb.
* PEKİNGSEBUILDING TELEPHONESBURSTOF280179 5
.
instali
AMERICAN PRESIDENT LINES
The Global Flee
ST. GEORGE'S BLDG.,
PHONE 28172/5.
TO HONOLULU AND SAN FRANCISCO via JAPAN PRESIDENT WILSON
PRESIDENT WILSON
Arr Feb. 4 ́· Sulis Fab. 5 Art, Mar. 23 Balls Mar. 24
TO SAN FRANCISCO AND LOS ANGELES via JAPAN PRESIDENT TAFT
Baile Fel. E
Arr. Jan. 31
TO NEW YORK, BALTIMORE AND BOSTON via PACIFIC COAST AND PANAMA
PRESIDENT FILLMORE ... Art. Feb. 10. Balth Feb, 11
KOUND-THE.WORLD
Via Manila, Blagapore, Colombo, Cochin, Bombay, Karachi, Snes, Pori Bald. Alexandria, Naples, Marcelles, dienos, New York & Boston. PRESIDENT JEFFERSON
Art. Jan. 10 Balla Jan. 30
The wars our generation has witnessed have brought what wors have always brought disturbances, unrest and a feeling of general insecurity that's the way of all wars. Industry and mutual trade-ibatul pursuits of peace-are the endeavours in the opposite direction. This concern has argued whenever It could, that free access, free intercourse and trade between peoples, contributes .to.peace and friendliness and security and takes the tension or where diplomats seem to fail. For, when all is said and done, people want the opportunity to work for a living. Trade and industry, free and untrammelled, not only con- tributes to that opportunity, but is a way of life. Vessels of our Line aro plainly marked and can be recognized easily when they sail in and out of the principal ports of the world, and we like to feel that they are practical symbols of this philosophy: Isbrandtsen
INDEPENDENT
DEPENDABLE
Regular Sailings from Hongkong to New York, Baltimoro and Philadelphia via San Francisco or Los Angeles
S.S. "FLYING TRADER"
SAILS FOR:
DUE FROM: (Uncalling Hongkong. All non-positive Kat cargo transfilpped to sa. "FLYING CLOUD"
Japan,);
S.S. "SIR JOHN FRANKLIN" at Singapore; positive list cargo off-loaded in
SS. “FLYING CLOUD”
New Yort via Manila Feb. 1st
Kobe, Nagoya, Yokohamı, Ban, Francisco, Los Angeles, New York; Baltimore, Philadelphia, Boston via Panama Canal. Feb, 2nd
(Transhipment cargo accepted for Jamaica, Havana and other Cuban Ports, also Venezuela.}}
LIMITED PASSENGER ACCOMModation availABLE »
Above Dates Subject to Change
For Information Apply to:
A.P. PATTISON & CO., INC.
GENERAL AGENTS: CHINA, FORMOSA, KOREA, JAPAN AND HONGKONG.
12-14 Queen's Road Central 4th Floor.
Tel: 25840
· 5.90
240
CHINESE AGENTS:
25.00
14.00 22.00
CIE DES MESSAGERIES MARITIMES Queen's Building
Tel. 26651 (8 Lines)
48 Bonham Strand West, let Floor
Los Angeles, Jan. 18. The as. Tudor arrived today from Manila,—Apsoolated Pres.
CO., LTD.
OVERSEA - CHINESE STEAMSHIP
Tela: 26127 & 81119.