MESSAGERIES
P.B. Box 63. Queen's Bldg.
M
MARITIMES
Tel: 20651.
M
FAST PASSENGer/freighT SERVICE
From Aarseilles
*LA MARSEILLAISE"
"VIỆT NA
"CAMBODGE"
To Marseilles
“VIỆT NAM"
Leaves Matscilice
Oct,
Du 1.5.
A.Oct.
1 Nut.
For Yokohanta
Yokohama
Via
If Bept,
* Det.
19 Nov.
Leaves Hongkong
Duo Meriellies
ib Not
20 Nov.
25 Dec..
Nalgon Saigon Salgott
"LA MARSEILLAISE” 2) Oct.
*CAMBODGE"
3 Nov.
2 Bec,
Via Blatxellies to a Mediterranean de West Africa' Porta
Via Djibouti to Madagascar.
From Europe
"IRAQUADDY"
*MONKAY”
То Енторе
"COURSEULLES"
"AURAY"
"IRAQUADDY"
FREIGHT SERVICE
Leit
***.Antwerp- 1 Sept. .............tunkirk-early Oct.
Leavea Reelung
+ Det
3D Ock, 10 Nov.
Bo TRI
22 net. 24 Nov.
Leaves H.K.
For Manila & Japan Manila & Japan
For
11 Orl
1 NOT.
+
17 Nov.
Saigon, Singapore, Djibouli, Marseilles, Algiers. Oran, Tanglers.
Casablanca, Le Havre, Antwerp. Rotterdein & Dunkirk, Subject to change without motien,
EVERETT LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.
"LENEVERETT"
Arrives Salls
Op. 9 from Slogapore.
Oct, 18
"BRADEVERETT"
Arrives Sails
&
Yokobama,
for Kobe
Oct, 10 Oct, 20 for
Rangoon
from Manila,
Singapore,
&
Penang. Calcutta,
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator-passenger servico to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.
"THAI"
Arrives
Soils
Oct. Qel.
7 from Sandakan. B for Fusan," Yokohama,
Kobe
&
"STAR BETELGEUSE”
Arrives Sails
Arrives Sails
211,
Oct. 19 from Jappan, Oct. 20 for Singapore, Port Swetten- Penang. Madras, Colombo, Coclit, Bombay, Basruh, Khor- Bahrein.
THE CHINA `MAIL, TUESDAY, OCTOBER 6, 1953.
Importance Of The Oil Industry To
The British Economy
Oil production overseas by British and associated Dutch 'oil in- terests increased from 66 mn, tons in 1947 to 100 mn. tons last year, but to meet all their market commitments in recent years these interests have had to purchase additional crude or refined oil from U.S. companies.
This is stated in a survey issued by the bong constructed overseas, Petroleum Information Bureau, entitled, "What annen, near Fremantle and Melbourne, Australia, and at Bombay. oil means to Britain."
The great expansion which has already taken place hins
the Inevitably Involved
com- concerned In vast ex-
sources,
ย
of the most
The bureau recalls that in recent years Bri- tish and associated Dutch companies have handled up to 50 per cent of the world's oil trade (exclud-penditure-a great proportion of ing the U.S.A. and U.S.S.R. controlled territory). which has been provided out of carnings. Some indication. of capacity cost can be gathered from an In the course of the survey. It a combined carrying is pointed out that while the of 0%1⁄2 mn. tone, accounted for estimato, made some while ago, cost of petroleum products to the about 20 per cent of tolal world that
a capital expenditure of U.K. and the rest of the sterling tanker tonnage (vessela of about ርብ is necessary for arcu involves Britain in a net 2,000 1ons deadweight and every ton by which the annual outlay of dollars, much has been over),"
output of finished products is increased. done to reduce this despile ·
FOREIGN EXPENDITURE A further important factor in temporary setback enused by the joss in 1951 of Persian Sup- Ono
important the reduction of Britain's plies, which, in the unmediately features of post-war industslat foreign exchange commitments rasuing period, could only be re-development Επ Britain has arise from agreements entered
between
U.S.A. placed by purchases from, dollar been the creation
various of a major into
controlled companies opernting refining industry. Within zome con
and the British IMPROVED POSITION .. five years, refining capacity in in the U.K.
As a result of the UK. was raised from the Government.
this agreement, the companies in "More recently,” the survey 1947 level of 2,500,000 tons per
question are now able to
supply "the continues,
has annum to over 10 times this position
petroleum producks to the
sterl- steadily improved. This is main-figure early in 1993. In Initial-
without nrca
incurring ly due to the inertuse in producing, thancing and carrying out ng Lon of sterling crude eli
the all in-dollar, expenditures any higher
than made Britain
those incurred by British Middle East sources, and to the dustry has
and British-Dutch companies. development of refinery capacity most important refining country
In conclusion, the It
survey also due to the In Western Europe. In the UK.
effort British companies Reineries similar to those at observes that "every earnings of
Linnd being made by British, in com- from the sales of refined products Fawley, Orangemouth, in overseas markets, and to the arcy. Shellhaven, Stanlow and non with other oil companies increased refinery capacity on the Isle of Grain, rank to expand their facilities to meet and all, throughout the sterling area andƒ among the major industrial the growing demand for
despite the
effort tremendous Western Europe,
post-war needed and the huge The new retineries in Bri-Britain. The smallest of these vast expenditure
capital Involved, there alore 18 Imported now refining operating Ots
plants titn. crude oil, not only now enable capable of refining as much oli seems little doubt that Britain will at least retain its prominent refining to meet donestle as the entire Brilish the country needs at a comparatively low ex-industry in 1947, and the largest position in the International oll but have can process over six in, tons of industry." penditure of dollars. even made available a surplus crude oil annually.
COTTON MARKET OUTLOOK
By SYDNEY S. CAMPELL Router's Financial Editor In mid-August U.S. Secretary of Agriculture Benson announced that, the U.S. would not introduce an export subsidy on colton during the present crop year. Some such announce. ment had to be made, since the rumours of a subsidy would otherwise have killed nearly all, cotton export business: foreign countries would have bought hand to
cotton waiting to get the cotton cheaper under the
subsidy.
British Exports
To Russia Reviving Slowly
After a period when British exports of manufactured goods to. Russia have been reduced to almost negligible proportions, there are now signs that a moderate revival is on the way. evidence of the increase. Exports of British goods The official trade figures do not yet show any
to Russia in the first seven months of this year, at an annual rate of £1m., were only about a quarter of the corresponding 1951 and 1952 totals.
unilateral
But It the recent burst of Hond und:r Russian inquiries for British In-forrangements. dustrin products matures luto: But, even so, the additional
hard business, it is thought that sterling expenditure on foodstuffs there may well be an increase of and on the prospectiva pureliases
£2m,- £3m, in the annual value of industrial goods in V.K. may of exports--even within the well
than prove to be more limitations of the present licens-Russia can dance out of her
reduced current ing restrictions.
carnings. sterling.
of
There is no sign of any relaxa-
Indoed, It is thought that the tion in the fairly stringent itconrecent spot sale of £42m, of ing regulations imposed by the Russian silver in London was UK Government Russian trade.
on Anglo-probably prompted by this need to come by some sterling quickly.
One restriction which has affcc. There has also been a Russian ted the field of electrical exports offer recently to reil some cot-
to has been the absolute prohibition | lon Lancashire.
But Mr Benson has not com- mitted himself for the coming year, so that Importers still have an incentive to keep their stocka down to the minimum, in the hope of a subsidy on the 1954 U.S.
cotton crop, Since that Iz likely to face a huge crop
of something
liko carryover
eight million bales from the present crop, it may need to be tackled by something more than ineffec tive production controls (which do control acreage but do not control production, 1950 brinz best regarded as the exception which proves the rule).
Conditions
have changed sinco Mr Beason spoke. At that Uma of collon were running slightly better than a year earlier, though only about Since half
as good as in 1931. then they have
fullen below Tast year's poor figures, CVCT,
mere accommodating spirit in this matter. Senator Eastland of Mississippi has accordingly returned to the
They negotiated for a attack for an export subsidy. He substantial quantity of cable with claims that the lower prices of a few large companies in Britain Tureign cottons
and asked once have cost the
again that a U.S. about a half of its export consignment of copper wire
and may cost it more. should be included.
the
and During
Inflation sellers' market of 1950-51, other cotton exporting countries re Harded the
price
U.S. expurte from this programme,
export, of some products for Another important contribution pation has to our improving resulted from the steady deve lopment of the manufacture
01 oll
in the U.K. equipment restell of which the of industry ean obtain for sterling an
unrtakings
has
of
the
The development of these new the refineries, which involved
cost es- oil industry in u total
mated to be in excess of £150
hud
important effect in
Britain's reducing slice the cost of the imported expenditure of foreign currency crude oil is substantially
..חונג of
less
erens.ng amount of equipment than the cost of importing the for use in the UK. and over-wined products obtained from reas which, umil
to be paid for in my,
נון
had
given quantity, of crude, ***Thus. The oil industry The survey goes on to staten
Britain
has made a substantial contribution that although the U.S.A. stil
towards Britain's remains the World's leading off
efforts secure a favourable British Interests In trade bulance. The
he additional national oil industry are benelt derived from the
Karachi,
rumshahr
Oct. 21 from Singapore, Oct, 22 for Kobe, &
Yokohama.
the VLTY
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A
(Incorporated in the Republic of Panama
With Limited Liability
Queen's Building, Telephone 31206. Chinese-Department:-Telephone 28293.-
The Rubber NEW YORK
Markets
Singapore, Oct. 5.
The rubber market eased in
the afternout
poor
on selling with Closing trade support. prices were as follows:- No. 1 rubber er 18. Oct. 01-01
Nov.
B12-011% 011-014 Dkt. No. 2 rubber per 1. Oct. 817-0133 No rubber per . Det. 00-0012 No. 4 rubber per . Del. 39-58 Spot rubber unbaled
Blanket crepe
No. pale crepe
LONDON
-United Press.
MARKET London, Oct. 5.
The rubber market was steady with No. 1 RSS spot quoted ni
18 3/10 pence per lb.-
Spot No. 1 RSS
Business
CIF basts No. 1 155 .. Estate crepe thick
thlo
1031-187%
FOREIGN EXCHANGE
South Afrita
Belgium Denmark France Germany
New York, Oct.
$1.01
5.1016 2.03-2.00 2.79%2
HONGKONG SHARE MARKET
is
(From Our Correspondent) Bualness Bone on the Stock Exchange this morning amouat- ed to $407,773, Noon quotations
even
U.S.rted high
as their floor they premiums above it. In the present buyers market most of
it as their them
суда regard
to clear their own
study underselling the
U.S.
and leaving the U.S. holding the baby of the carryover. Those few who still hold out for pre- miums are coming round to this view. Accordingly,
U.S. exports of cotton stumped from 54%, millen bales in 1991-52 to less than 3.2 million in 1952-53 and may fall this season, leaving a again carryover in the
U.S. of more than eight million bules next
and, after of reined products is indoor and the morning's transactions: compared with 5.5 million
considerable,
British U.S. companies.
and by the fact that last year the associated Dutch groups are the value of these
exports totalled The some Eso mo."
oil producers.
se of British companies
a very
com-
raw
DRILLING EQUIPMENT ucquired for the UK.
The survey points out that a spbstantial share of the world's
further advantage of. Britain's oil industry, and this has been
enhanced refining
capacity 15 continue: steadily developed by investment to the present the production from petroleum
up
of the British
materials for the a result, time. As a
ted manufacture of organic chemi- sometimes associated panies, with Dutch interests, produce in cals, which form the bass of new products. Anather a score of different countries in many cluding the U.S.Approximate-important economic benchit has of ly 100 m. metric tons of crude resulted from the building
plants at sil a
a year. The importance of sulphur recovery
some refineries. their total
pil production to
Reviewing tanker construction world traented when it be trade is pesteps, even
and equipment manufacture, it is better
uppi ted that they are responsible stated that at the beginning of for producing more than a third the year, over 60 per cent, of all tennage on order in Britain's. ut all oil entering into interno flonal trade (which excludes all preduced and consumed in the U.S.A. and U.S.S.R.).
TANKER FLEETS "Bilish companies (including the associated Dutch interests) ore concerned in oil production
are
and
con.
ar
shipyards was repretented by oll orders, while orders for oil in- dustry equipmont placed with British manufacturer last
£100 approachod orders covered not only the specialised drilling, refining and equipment zomerly Pipeline obtained in pre-war days mainly from the USA, but included à
HHARES BUYERS SELLERS BALES
'BANKS
ILK Bank .. 1500 East Asia .. 1:00 INSURANCES
Union
...... 025
Underwriters 1K Fire SHIPPING
Asta Nuv DOCKS, ETC. K. Wharf Dock Puvidon! Provident
(Now)
Wheelook
LAND, ETC.
1K Hotel HIK Land
Slat Land Humphreys
UTILITIES
Team
:
5.30. 5t
EMI
20 1821
10 R22:5 3002711
07
1000 21.70
12.00
13
0
站
4.00
17 17.20
100 23.70
312
25.70 1. Tram (N) 21.20 Star Ferry
C. Light (0) 13.99
300 13.00 200 1300 2300 13.00
S
on the supply of copper, includ- Some merchants are expecting ing copper in semi-manufactured that these
moves
will
be form, to the U.S.S.R.
followed by Russian efforts to Last year a large order for resume large-scale exports of electrical equipment was lost by grain to Britain-though it is British company because the pointed out that Molenkov's pro-
for the expansion of Russians
the
contract gramme conditional on the Inclusion of a livestock production will prob
demands on certain quantity of copper wire obly make big
and the ex- Russia's normal export surplus In the consignment,
used, of course grains. refused. port licence for this wa
In the past few months, how-
ave shown the Russians have
ORDERS FOR CABLE
It was thought at one time that. the refusal of the licence for the latter would once again result Jy] the cancellation of the proposed contract for the other items. But,
TALKS ON
STERLING
BALANCES
Treasury Official's Tour Starts
Mr Maudling, Economic British in the event, three British com-Secretary to the
Crompton
Parkinson, Treasury, panies, Aberdare,
over
has left for a
He will conduct economie arid the
and, Enfield. Cables, obtained the Russian orders for series of discussions with electric cable. They are believed sterling area. Governments to be worth, all told, something in the East.
The amount which the Russians originally proposed financial negotiations with to spend was, it is widerstood, Governments of Iraq, Pakistan, considerably more than this, Ceylon and India.
Exports of cable to Russia on the scale of this contract are a There has new
development, also been a revival of Russian sterling balances of the four
countries. interest in British supplies of
Thereafter he will head the electrical machinery-a tradi-British delegation at the
Arth
Bonal
Russian
The subjects to be covered
Include are expected to
the
year and 2.8 million inst your. (By
astonishing c I
export to the coireidenes, the actual figures
conference of the Consultative for
wheat are almost identical market, which has recently been Committee of the Colombo Plan
hundreds In
millions uf
on the decline. of
But the largest item of new that will be held in New Delhi wheat bushels the present
from October 13 to 19. business which is now in the to leave a егор
is expected
Before the mecting on Minis- terial level
there
will be carryover of about eight, com- offing is the export of ships, for pared with 5.0 this year and 2.0 which the Russians wish to place ter last year. The
an coincidence of order of about,' £ 10m. the digits may be a
a freak, but the common development of the two commodities is due to a common cause, a political rather than a meteorological cause),
BEING CONSIDERED
are
*
meeting of officials to prepare the conference, and a meeting of the
|Co-oper Council for Technical
Whether it matures or not de- Me Maudling is, accompanied pends on the Admiralty's decision by Sir Leslie Rowan, a Second about the grant of export Secretary of the Treasury, The ALMOST ANYTHING Licences. The application is still British officials delegation at While th? U.S. Department of being consklered."
the preparatory meeting will be Agriculture is
Some 20 fishing vessels are headed by Mr A. C. B. Symon. ture is officially opposed
11 belleved to be involved, and if to a cotton expert subsidy,
of the Commonwealth Relations actually favours two-price the
licences
granted de: om
Office. It will include officials for wheat. system
Secretary liveries are expected to be spread
from the
and the Benson's Wheat Advisory
Com-
ver several years.
Board of Tradeasury recommendis the pro-
France and Denmark are mitten
After the conclusion of the Chairman
In the North conterence of the Consultative ... Troaly
Organisation Commitles Mr Maudling and supplying Russia with ships of Sir Leslie Rowan will visit
tonnage a consderably larger
various development projects in than that of the vessels in the India. proposed order to Britain.
for, there have been no So Russian or East European orders British consumer goods, for
barter basis. An
gramme; so does the of the Agricultural Committee of the House of Representatives; Government officials have been testing the reaction of the wheat growers.
among countries Atlantic
From Washington's standpoint, almost anything would be better 100 Bes than the present indiscriminate 1000 2020 supports. The idea of the two- except on a 200 2020 price system has a respectable Interesting recent development,
C. Light, (N) 0.00 0.00 2000 49.85 Electric
20
1000 20.20
Telephone
22.30
304 22.70
NDUSTRIALS
100 $420,00 300 30
Cement
however, is an inquiry from East 100 22.70 ancestry, going back to the inte howe
1020s (when it used to be de- Gormmy. for a consignment of
tariff th:
textiles from Britain, reported to be worth
tariff cotton and wool
part
in all the inain producing area variety of miscellaneous Foods other than the U.S.S.R., despite the loss of Persian sup-ranging from office requisites to responsible medical, and sports equiparient. plies, they
"making for about 30 per cent of all oll The development of the British
scribed cll equipment industry-encour-
ង. Froduction in the Middle East aged and helped by the cli
effective," or
the "making contain which is estimated to
companies has resulted in
.... 10.50 14.00
price effective"). But the greater volume of proved oil substantial
Itope
17,70
other saving on foreign STORES, ETC.
exporting about £500,000, Wheat
the world reserves than any other region. exchange account. To the extent
Thiry
23.40 23 500 23.40 countrics and on also provide nearly 30 per that equipment has been ordered
300 pe 20.40 † wheat market They
3000 23.40: by overmas buyers, there has also cent, of all oll
all oll production in
33 OF 2420 Caribbean area, which includes been a welcome contribution to- Venezuela-the world's second wards
favourable balance of
While the overseas setivity of East they account for some British oil companies involve an two-thirds of all all produced," appreciable outlay of foreign cur the survey continues.
Canada
England-official
uomelal
*
Australia
30-day future
00-day future
2.79
224
01-81% 0144-50 60-70
Now Zealand
2,70
2.001
0200-$2
.1453
002616
2385
2633
Italy
.0001
Norway
portugat
.1405
0338
Spain
.0033
1814-18-3/16 | Sweden
..1025
Switzerland
MIDDLE EAS
233414
EAST
Egypt
23125
2.004-
3423
LATIN AMERICA
Far
0728
6350
8220
0001
4020
1,00
1154
ASSS
4530
3003
FAR EAST
2101
3045
.1780
E
inquoted
20 jellor
United Pres.
NEW YORK MARKET
December
March (1054)
May
July
September
Iran 1raq Turkey New York, Del. B.
21.00 Argentina 21.80 Brazil 21.00 bid Bolivia
Cille 2130 bld 21.50 blu Columbla
Cuba United Premi.
Mexico Peru AMSTERDAM MARKET
Uruguay Amsterdam, Oct. B.
Venezuela No. 1 rubber per lb. Oct. 1.70 nom. No. 2 rubber per lb. Oct. 175 nom,
Indla No. 3 rubber per tb. Oct. 18 nom. No. 1 crepe ruuber per ib. 20 nom. Pakistan
United Press.
Jongkong Indonesia Bingapore Japan
Burma Mission In Sarawak
300 yen to USI -Valled Prem.
producer and chief ex-trade. country-while in the
interests Their marketing side are even
for In widespread,
in
handled up to 50
Q
.... 23.00 24.20
Watson COTTONS
Ewo 2.475 Textile Corp. MISCELLANEOUS
Yangtero ... 2.00
24
GOO
1.43
1000
710
2004 7.18
casily
free
can be more imagined than described.
SOVIET STERLING In London it is expected that
in the US, they would later get of sterling. a payment
Sugar Prices In New York
New York, Oct. 6. World No. 4 sugar futures closed four to six points lower with sales of 143 cóntracts,
Trade selling and liquidation caused the decline. The market. reflected the growing unwill- ingness of foreign producing contrive to under-sell Cuba in the world raw market.
Domestic No. 6 sugar futures
takes effect, Under this system, farmers as Russia's new programme of would sell all their wheat in a increased imports
sho may well find herself short rce market, For the portion
Hitherto, it is be- for the difference leved, Russia's export surplus between the free market price with Britain has been just about
The sufficient to offset, her nonnel closed one point lower to 8 and the full parity price
the rest of the points higher with sales at 75 by deelt with would be financed by
The Domestic raw market wasy over to make
refiners watching otherwise with something
to gulos with payments the certain sterling processed for
consumption in the
transferable account countries developments in the dock strike.
Contract No. (world) tax was U.S. The processing London, Oct. 5:
like Swoderi.
Jan, 1954. tried in the U.S. before the war. market
But in the past year, the value March was stendy The whole system would closely.
of Russian exports to Britain hos May "deficiency
LONDON TIN
MARKET
The tin
parents tax levied on. alistering arcs and to leave her contracts. -
a
wheat
milled
от
the world's oil trade (excluding a for lower expenditure of foreiga but quiet. Spot was up £2 to the Britain's pre-war dropped sharply. During the first! July
Commodities Into meet
..
STO
under
pay
Wheat Act. (In Britain "deficiency payments
Sept.
the seven m months of 1953 the total spot are was only £13.9m
125 nom.
1.28 лот.
3.90 bid
against (cents per lb. fob Cuba)' 3.20 Contract No, -6. Nov. as being restored for the 1804 £40.7m, the
Jan, 1954 It is true that there has at the arch crop.
Before the war they period of 1952. Corresponding were financed by in fax
same time been a cut in Russian My wheat Imports. In their
expenditure, chiefly
on
revived
613 for they aro Initially to be sterling
gency, there must be offset against the this the important comings of more foreign exchange resulting from Moreover, the recent Overseas sales.
overseas production by Blich years, as a result of produce companies means that oil supplies ton and purchases, they have for the U.X. and the sterling area per cent of as a whole can be supplied with
the U.S.A. and U.S.S.R.
con-exchange than would have been £011 and three-month fin up trolled territory), and pending the care if Britain had not bull 22 to 2601% per long ton: of their up a substantial interest in the Turnover was 15 tons, all for further extension
cash. production facilities they have Informational oil Industry..
it necessary to
Closing prices were even found
GREAT EXPANSION.
follows:- crude or refined oil purchase
Thus, the oversens production spot in, buyers from U.S. companies in order
all their marketing and sales of all by British com ellers
panies. (and the associated Business commitments.
Dutch interest), coupled with remonts tin, buyers "They have also very
the tremendous expansion of
of Businers city in the U.K. Bettlement the end of 1982 they operated and tho New York. Oct., §.
a total crude oll plants with Leading commodity markelsenpacity
British oil equipment Industry, in excess of 100 min. are all of considerablo: N.Y. Cotton Prices Commerce closed mixed with somewhat
portance by that Burma lus one-third lower overtones. Grains, moved tons per annum, with addition
total rice production for lower on
cash real capacity under construction. In the case of
To provide for the world-wide everseas, production market sale and also pro-ceipts and slow export and transportation of crude oil and from 68 mn. tons in 1047 to
more information of domestic demand. fellos. of beans Sarawak IUS At Chicago, wheat closed off refined producis, Great Beltain nearly 100 m. tons in 1952. A second largest tanker further rise in production has 1% to. 2%. coats, soybeans off owns the
neet in the world (being ex- taki plade during the dest half The mission, on a week's visit to 1% cents.
wheat was ceeded only by that of the of 1958, thereby orderin facilitate trade between the swo,countries, leaves Kuching priced at 189% cents per bushel. U.S.A.) At the beginning of opportunities for added oversens his year, the Brillan, Boot, with sales, and now refineries, ute JÓMBORTOW.---Router.
Kuching, Oct. 5.
U Aye Cho and U Tin Maung, rabers of the first Burmes
Bo mission here, told the nere Chamber
America
Increasing
At Winnipeg.
United Press.
.
sub-
stanital refining capacity, fo: at [refining capacityment of the
**
001
nii,
July Dept. Thas Nov.
cit NV #x-duck)
and the price has spot-frents per
00114 Ananced by Government rubber a smaller quanlity
subsidy, since, as the British boon Government subsidises consumption, it would
Reuter nonsense to tax Iti
-United Press.
New York, Oct. 5, economy. companies
Increased today as follows:
Prices of cotton futures closed
bo
wheat been lower Make
such, novel items as butter from
Exchange Rates bout possible burthases of meat
froen
horn.
nom.
6.15 nom.
8.03
-united Press,
JAPANESE BONDS
Bangkok London, Oct. 8 Japanese bonds TEA
(48 of 1510)
15; JAM
But more recently the Russians have both spending sterling on Australia and New Zealand, and Beon making inquiries they (have)
the same sources. The amounts Involved so far Crocs of 1907) immoral change marked this have not been large, for instance (as of 1924) 05.010823 moentarist the following • rates?»» He hunter purchase from Aust0% of 18307010
STETŐKJO DE 85(3928) A DEL": Sterling now par ZTK 185) traild and New Zeband comes to Indonesian quldara (quez 86194.12Tits 600 tons, compared ur them" (Tokyoahilerine ka
198 total of 21,000 tons of butter Consola
Denmark and
** Businemi, wis dona, in tha" loes!
Rom)
Siamonds)-(pue: 106)
Besabre "(Biruita)
Indo-China piastree
bought from
CamUnited Press.