THE CHINA MAIL, THURSDAY, MARCH 25, 1954.
TRADE anal COMMERCE SECTION
[WETTEST SPOT-OVER, 180% OF NORMAL
ADRIES PSPOTS LESS
THÂN Ở LI NORMAL
PRECIPITATION.
Below normal
L
Above normal
-DECEMBER-JANUARY-FEBRUARY
|COLDEST AVERA
SPOT ALL WINTER
EMPERATURE
0° to 1o below normal) 0° to 2o above normal +2° to 4° above normal to 6o above normal]
+6° to 9o above normall
TRAS
Af Newsfentures
WARMEST AVERAGE SPOT ALL, WINTER
LESS RAIN AND SNOW IN 1953
America Had
Warmer
And Drier
Winter Than
Normal
This winter has been warmer than normal over most of the United States. It has also been drier than normal-less rain and snow-at least, that's what the U.S. Weather Bureau records show,
-But A Different Story From Ankara:
Turkey's Worst Winter
For 25 Years
Ankara, Mar, 24.
Turkey's worst winter for 25 years has been causing great hardships throughout the country. Hungry wolves have even been driven nearer the cities.
This combination of warm and dry winter rings bells for Mid- farmers. Win 11 west dust storms, sand storms, wheat that burns on the stalk?
meon
Weather Bureau people are cautious abrut forecasting that far ohrad. it takes heat, wind and lack of rain in the summer to repeat the destructiva drought The mation suffired [11 the mid-"30s,
is just The warmer winter part of a long-time trend. Win- tern have been slowly turning warmer average tem- perature for 60 to 70 years the Weather Bureau fecords. It's Anybody's guess whether that will keep up.
In Istanbul, the acute shortage of household "P fuel takes precedence over all other news, including the Berlin Big Four Conference, on the front pages of the newspapers.
Queues
makes it im-
In the wood
of shivering Turks Snow blocking the main roads to tunnel our form every day in front of the round Istanbul
yards, in the hope possible to bring WL..die's
will that lorries
arrive with cut and lying in neighbouring
Coke forests. the forests, from
Altea peris
Wood
The
newspapers
210
US STEEL OUTPUT CONTINUES
Another Slide TO DECLINE
In US
Share Market
New York, Mar. 24. The stock market
had
another late shake-out to-
day not as severe as the one yesterday, but sufficient the month's to wipe out gains in industrial stocks.
Failure of Pennsylvania Reil road directors to declare alvidend usually ordered March, touched off the selling late in the afternoon after an uncertain early market.
the
The Company, which has paid a dividend yearly since 1848, may
declare one later, since there is
No Recovery
In
Seen March Figures
Signs of the eagerly awaited spring pick-up have yet to appear in the American steel indu try, says the Washington correspondent of the London "Financial Times.”
No fresh rush of new orders has appeared, and steel production-instead of rising-has been declining. It is believed that production during the
no regular time for the declara-week beginning March 8 was the lowest in any
tion. However, market men
were quick to use the omission
As an
an excuse for selling what Fonte commentators called over-extended market.
the case yesterday,
Week this year.
in
Steel executives frankly admlt to being disappointed by the March performance. They had generally expected that March-normally one of the beat steel months of As was
which have lagged the year-would mark the beginning of rail stocks,
a recovery of the the rest badly behind
steel activity. and the air- market for weeks, crafts, which have had a steep, rise
sessions, were recent main targets for relling.
1
Also in a repeat of yester- day's pattern, prices rebounded real fron the lows when na seiling developed,
total
1,900,000 shares
Uranium Found Denmark Will
Near Mt. Isa Buy More
British Goods
London, Mar 26. The London offée of the Australian mining cott pany, the Mt. In Mine Lid. today confirmed re- porte_that_urantum-bearing deposits had been found near Mt. Isn
north- eastern Australia.
The
Company said that discoveries had been made on its own conces- nions, adding that it was all not known if the deposits could be exploited commerclafly. Franco- Presse.
the
HONGKONG STOCK EXCHANGE
London, Mar. 24. Denmark has agreed to buy larger quantities of leather footwear, bicycles
and bicycle parts, and household electrical machinery such as washing machines from Britain in 1954, it was learned today.
These were the main items on the list of goods which Denmark agreed to take at Anglo-Danish, trade talks here. Other items were whisky and gin, china and glass ware, certain metal con- sumer goods, and gramophones and
records,
Britain will also be able to participate in a global Import queta which Denmark has fixed for motor vehicles and machinery of all kinds.
to
For Dritish
no been
Dritish exports of textlica to Denmark in 1954, (From Our Correspondent) But it now appears
that ordering will not then be forth-
ilmits have quantitative production has gone
down coming.
Business on the
Stock Ex-xed, but Danish Imports will for
the third consecutive hos had this
But it is disturbed because it change this morning amounted be governed by special complex
idea for several
financial arrangements. to $303,165.40, Noon quotations months. week,
and the morning's dealings i Consumption of steel, the in- Output luctuated al rate dustry is convinced, is exceeding | suANES DUYERS SELLERS SALSY between 74 and 75 per cent of
production But still the re capacity during the first seven orders have not appeared. wicks of the year, cased to 73.8
Users have been reducing In- In the week beginning February ventories 22, dropped again to 70.7 from market prospects, partly
partly because વર્ગ be- March 1, and then was scheduled cause of the sharp change in the beat 88.8 per cent last week. supply situation sloce fast sum-
The sell-off today occurred on smaller volume and turnover
day.
of
If production was at the scheduled rate, outpul fell to
mer.
inventories
Arc no
1,842,000 net tons-the lowest longer necessary since the pro- for any strike-tree, non-hollday ducers now can quickly deliver week since March 6, 1050. in response to orders--the normal]
February steel output, inciden-situation in steel. tolly, had been the lowest for Deliveries that required seven weeks lead time as any strike-free
since Sight
cently as last Autumn, now are September, 1949.
being made within three weeks of the time the orders placed
month
HIGHER CAPACITY
to
BANKS
HK Bank
East Asta
INSURANCES
Union
.. 1600 1700
170
Underwrie DaS
Lombard
SHIPPING
Asla Nay
13 of 1000 101003
1.20 7.30
6014
57
1.10
1300 @ 15
DOCKS, ETC.
K. Wharf
XD
70 Dock XD***.
20.00 Provident (0) 12.70 13
lungkaw
S'ha Dock.. 139 Wheelock
compard with. 2,180,000 seater "Some market men look for a bit more selling still to absorbed as technical considera- tions dictate the market action. They pointed out, however, a still
impressive backlog of supporting factors such as easy money, shrinking bond yields and tax relief.
{Bles Of 1,149
traded, 610 were lower, only 274 higher. A fow Isattes, however, moved strongly against the Keneral trend.
Gulf Oil, in particular, featured.
Production Il rose 2 points to a
of 1,042,000 tons The industry is disappointed new high at $55 on a good earn- during the past week would and cautious about 1954, but not Ing report.
compare with an output of deeply concerned. There kas Pennsylvania Railroad was 2,284,000 tons during the same not beep. a -sharp break and the most active imue. It fell week of 1863-when the industry some products-particularly the LAND, ETC.
NY stock ex- ogersted at 101,3 per cent of structural shapes needed in con-
rated capacity,
structiori" and the tubular goods Last year's capacity estimates used by all companies are in were based on a January 1, 1953, strong demand. annual capacity of 117,547,470 closing averages tons, while the current estimates are based on a sharply expanded
The $10.
change bond Volunte was $3,040,000, ond the American Stock Exchange volume WOR 420,000 shares.
Dow Jones
wern:
30 industriadis 20 calls
15 utilties
4 stocks
40 bondr
Com, index
954
203.13
Jonas January 1.
34.
124,330,410 tons.
112.00
700,0
Steel Industry
1801
-United Press.
CHICAGO GRAIN
MARKET
esmate of
officials have shown no disposition to read the latest
output figures as a sign that steel demand has taken a turn for the worse.
But where for an uptur
Chicago, Mar. 24. now believe
the be
Wheat and rye were on
in
other grains managed
off
to level
they had looked in March they the industry will to match its
10 performance.
Now
to April.
200 * 70
2000 y 15
603 0.10 5000 7.05 1000 09 7.95 1000 2.03 1000 8 400 B
Goods which Britain agreed
buy from
Denmark In 1954 included biscuits, chocolate and confectionery, steds, tinned fruit and a limited range tinned of other manufactured goods.
In expectation of the return of condensed milk to private trade, Britain also agreed to an import quola for Danish condensed milk.
It was emphasised, however, that
the goods covered by tho new agreement form only a small part of Anglo-Danish trade- goods traded on private account but subject to import control.
Danish dairy produce eggs. Danish butter and cheese-and bacon are covered by an agree-
1500 8.05 ment made last December with 1000 0.05 the British Ministry and thus 400 6 0.03 not subject to quotas. China 200805 Mail Special.
2000, 20.10
HK Hotel HK Land X All
.. 0.00 0.15
0016
100
200 20 DI
Blunt Land Humphreys Stealty
.....
Tram XD
Singapore Rubber UTILITIES
Market
Singapore, Mar. 24,
The market opened lower on overseas advices but there was! no selling pressure. The market | remained much the same level throughout the day, and prices closed as follows:-
No.
has
April
May
Запо
rubber
1.325 1.40 13: 1800 2.10 2.174
VIS
28.70 20.00 1000 19
300 1000
ase
1000 28.82
C. Light (0) 18.00 10.00 1000 « 18.70
C. Light (N) 13.60 (330
652 16.70
1000 10.70 1000 or 18.70 1000 or 38.10
рет
3h..
5514-593% 355-5632
554-55%
Electric ... 331za
Telephone
INDUSTRIALS
Coment
... 17.00 STORES, ETC.
Dalty
.... 27.00 27.20
་་
20
18
65-551 50-10% 02-04
27.10 27.70 27.70
Walson
10 1640
1.00
United Prese
downside today. although the February
that the recovery been pushed bock another Selling In wheat ngain was month, the Industry is looking
No. 2 rubber per th. April 50-5314 Influenced by a promise of more
No. 3 rubber per lb. April 54-041 Whether the recovery will, in No. 4 rubber per b. April 53-54 main growing fact, appear moisture in the
probably depends Spot rubber unbaled arcas. Domestic flour business
almost entirely
Detroit's Blanket crepe slow, was
motor-car industry. March has No. 1 pale crepe buy 00,000 sacka been scheduled to ex-
disappointing most of US bakery grades temorrow anticipated motor-car sun's und a similar quantity of low
grade US flour on Saturday.
The Foreign Operations Ad- ministration announced it has
il coal are also in short supply with bitter attacks on the Town meteorologists
Council. Cartoons show the rays are getting hotter. But the
and hardware shops are doing a Fouring trade in oil stoves to istanbul citizens whose central heating systems have ceased to function,
The shortago
of
fuel
to heat cauldron,
feet
an
below,
not
but Jamaica
and wheat
on
because demands
for steel did not materiale-or| at least have not as yet.
MOTOR-CAR SALES
NEW YORK MARKET
New York, Mar. 24. Rubber futures today closed unchanged to 30 paints higher with sales of 16 contracts,
Mast of the day's activity.
Next year we might all have way through ice and snow to get to work!
What has caused the wormer
Weather Bureau winters?
out that point
think the
method of mensuring the sun's Mayor trying
imperfect that markerlays is still 20 enormous "Istanbul"
alloted $1,450,000 to finance the with a tiny candle the explanation is simply offer
An influx of large motor-car happened at the close when a wooded as the most likely and held for
purchase of wheat flour to meet a threatened food industry orders would cause an spurt of dealers buying in the bakeries has threatened the city merchants burning their sawing the final answer.
shortage in Afghanistan, but "pward movement in April. But May contract found sellers more benches in a last desperate effort | Through the winter there
variations
did not indicate when the buy-retail sales of motor-cars will reserved. In different
determine whether vehicle pro- ing would start-United Press.
Future closings were: parts of the country,
duction will
be increased and May CHICAGO GRAIN PRICES
whether in the chain of events July
demand steel
will begin to September December March The steel industry is uncertain || May how large a part. is being played in the current altuation by customer inventories. It knows that the reduction in steel in-
with
bread shortage.
The harsh winter in Anatolia has resulted in the cancellation of 15 trains weck
ย
which brought ment
Asiatic from
Turkey. As
a result the price
of mutton hos doubled.
to keep warm, and the cost of were living groph soaring.
Influenza Epidemic
In Ankara there is as yet no fuel shortage, meat is not so Small restaurantes claim they plentiful as usual, and has cannot serve meat dishes at the casionally disappeared altogther maximum
permitted by from some of the city's markets, and will be but prices have not risen to the
entiraly Istanbul level,
the munic forced to
offt
vegetarian menu.
M. Fahrettin
an
413
the
Through December southern part of the country was four degrees cooler than its usually balmy winter weather.
40 Below
Chicago, Closing prices per bushet in cents: Wheat, No, z réd
Mar. 24.
Spol
May
July
Sept
22in 27296-15
218-210
Dec,
27214
Corn, No. 2, yellow
spot
1501%
May
July
Sept.
154-15451 1803-188 164%-14
Spot
soybeans, No. 2, yellow th
363n
May
July
Some
Sopt.
Nov.
Jan.
below
Barley, pot
New York, four, 200 lbs. sack
Unitad· Press.
58022-307 3601-301 274-274
climb.
20.33-40
20.10b
20.106
20.10
20.15b
-United Press. LONDON MARKET
London, Mar. 24. ventories has continued far The rubber market was steady longer than steel executives had with No. 1 Re: spot quoted at anticipated it would when the 10-7/10 pence per lb. Prices: fact of the inventory cutbacks No. 1 Ras spot..... first became
Instatement house term;
appearent
May
Juña
NOTICE
The following advertisement has appeared in United Kingdom papers:-
MINISTRY OF TRANSPORT AND CIVIL AVIATION
SHIP FOR SALE
ot
Hong
1. The Ministry of Transport 600 6 13.70 and Civil Aviation invites offers 1000 13.70 for the purchase from him of
9001 the undermentioned ship "* 200 gì 31, 3000 ** 1116 lying"
Kong after 200
removal of certain Naval equip ment and stores. It purchased for scrap, certain other equip- mant. will not be incrced in the sale and will be removed before delivery to purchaser,
2. Ofters for this ship will 7.40 bo considered from any person and should be made in writing to the Secretary, Ministry Transport and Civil Aviation, Room 4017, Berkeley Squaro House, London, W.1. Envelopes should be clearly marked "offer to purchase" and should reach the Ministry on or before 18th
740
2000 a 7.70
COTTONS
Texuio Corp. 7.65 MISCELLANEOUS
1.50 0.83 1009 * 0.00 Yangisze
5000 a 0.00 Yaumati XD. 134 130 Allied
Invest
4.04 4.10 1500 @ 4.05 April, 1954.
1000' 4.07
New York Sugar Market
New York, Mar. 24. World No. 4 sugar futures today closed 2 points higher to one point lower with sales of 133 contracts.
Domestic No. 6 sugar futures closed 2 to 4 points lower with sales of 872 contracts. 102-16-7/10
autumn.
1032-101& The expectation then was that ly/September cally-250 the
Inventory
adjustment in General markets, cif basis, ports:
April
10-7/10-10 steel would be
over by the end May
16-7/10-16-0/10 20%-10% of the fourth quarter of 1953. June
Extate crepe thick... unquoted But the correction process is
Estato crepe thin
184 still under way.
United' Press
London Foreign The most recent cutback in
The changing weather had to the outbreak of a minor The luxury tourist restaurants, led to
In January some northern epidemic in the creus →→ the north-east,
Doc the prices are not controlled. Influenza whose
Turkish capital.
Plains, the northern Since before northern are not so far affected.
in Rockies and the upper Groat the weather Kerim Cokay, Christmas, the Vall (Governor) and Mayor Ankars seems to have adhered Lakes-had it colder than their of Istanbul, has appealed to his to a fortnight-long cycle about usual January average. fellow-citizens not to attempt to four or five days of mow and places in the northern Rockies
12 degrees intense cold, with minimum night registered build up stocks of fuck, if they | int
their normal cold weather. As low con and any, and to eat meat temperatures falling as
minus 27 Centigrade (minus 10 only twice a week.
But southern Idaho hnd Fahrenheit), then a few days of January No Wood Left
average 10 degrees. mild weather, turning the strests
above averige. The meat shortage has driven of the town into a sea of slush up the price of fish, which is and mud, and then another hard | "Through February practically normally plentiful In Istanbul, freeze-up, followed by more the whole country had warmer to a point where most Turks now.
average weather than usual. In cannot afford to buy it,
Every time show folls public parts of the Dakotas it xvas 20 Forgetting their Mosiera transport is completely disor-degrees above normal, principles,
Istanbul genised, and half the taxla go
The coldest day rung citizens are beginning to eat off the roads. With the thaw, wild-bear meat. But pork and torrents of muddy water pour through February wild boar are scarce in Turkey, down Ataturk Boulevard,gress below in western Montana. because of the small demand, Ankara's main street and pass-Through March 10 the highest
if this trend continues ing busce
apray temperature noted in care
with received by butchers predict that the price podestrians
the gonorously
WAY 99, Traile
at sacidents. ara Bureau of their meats will go above mud.
Texus. even the price of the best frequent. muftan.
The wolves, zizo short of food,
This winter's cold' to "Town Council claims the are moving in packs closer that Montana, day of 40 degrees crisis arose
wood the cities. One was reported merchants How heat in prowling in the Ankara, suburb cold record where named the in this, cbstntry. recent years with large stories
10 Th was a 60 below, register on their hands an aromat of Presidential Palace 1 atuated.. ed on Pabi„9, 19937, fit. Yellstru the renismally willd Winters Pires, men have disappeared stone Park. Threo
and
The
some
beckist
and
Carlayn, where
Exchange
Blocked Mark
output is said to reflect an Inventory adjustment
at millle rather than the continuation of customer stock changes.
London Metal
Prices
Mills had acquired substantial | London, Mar. 24. foreign exchanges holdings of ser
of semi-finished `steel in
London, Mar. 24. closed today as follows:
anticipation of the Marsh de- 2.0114-2.0136
The metal markets, were all mand increase for finished pro- 2.734-3.3.13/10
that fulled to develop, steady,, Pricos, closed today in ducte 10.042-10.7436 12.13/16-17 Ingot output, therefore, has been sterling bar long «len Cas 11.712-11.72 reduced to enable the mills to follows 140.173-140-223"
TIN their inventories,
of semi-moniti
spal 7271% buyera. 73211⁄2 sellors {out! 19/139-19419% *
Anished
#pot 236 20.00-20
metal
tho authoritas ARC he, tron
Lead March 87% 14.01-1959)4 tive magazine for the indus
Bald" at the midweek that
Zina. March. 78 Inventories of ingots, and sumi-ke June 17 finished steel were, more. Kiian.
London
Up
New York
Montreal
Amsterdam
Hamburg
roports Weather
Brusrein
Laredo,
Copenhagen
Paris Stockholm
record
Thi per le merchants did not from some for The hottest diy turned us attempt to build up and Istanbul, ca in log fared that Jul 10101010
Dadernber when
they have been, vadon by Wolves. ruch
The Candy lesen “found, war, the hit 134H hard cons of one of Abem, ripped to hotter than if the col
deylichida Mall-Special.;
United Press,
199
גים
^^^^^NEW YORK.FUTURES")
New York Cotton in Cone above normally the New York, Mars:241
teginding of the year, and had BB New York, Mar. 24 Prices of cotton, future today harply saince thrust wone down an
3. "MAINE" R.N.Hospital Ship of about 7515 G.R.T. 4205 NR.T. Length 428.3. Breadth 4.2. Built 1925 by Ansaldo, Son
Engines
by Georgio. Ansaldo, Sampierdarena. 0 steam turbines DR. geared to 2 shafts. 4 watertube bollers and 2 single boilers. H.P. 6500, Max. Seagoing speed 18 knots,
Ship is under the care of the Commodore-in-Charge, Hong Kong, to whom applications to inspect should be addressed,
Trade buying and covering 4. Further particulars and orders predominated in a quiet | coples of the form of purchato trade for the world futures.
agreement can be obtained from Domestic futures faltered the Ministry of Transport and start under Civil Aviation, Room 4013, at after a steady liquidation and scattered hedge the above address. (Telephone selling ponding further
raw No. Mayfale" 9404. Extension market developments.
Future 2830). closings:
Contract No. 4 (World)
May
July
Septmp ber
October
January (1035)
March
May
Juty
Cuba).....
Spot (cente per ib. Zah
3.32b
3.31
1,326
3,31M
8.23
Open interest: 1.867 contraste,
Centrace Na...
5,00
May
July
Beptember
November
Baroti (1988)|
Spot (penis per lb. alt
"NY ́ex-duty)
6.62
Open interest: 7,349, contracts: Ensiad Pruni.
Motal futures closed today, as Exchange Rates
follows in cents per
Otrova .or
the
6. The Minister will not accept responsibility for any
omissions in |particulars and description of
tho ship or for any information:: which the perron submitting, an [offer may Have obtained from
any person whomsoever.
61 The Minister dões nat bing hlistself" to decopt any offer- for purchase arid: his decision. 'in any, casó must be accepted as Anal.
W. WOOD, Sigled by authority of the Minlathe Of Transport and Civil Aviation at Berkeley Square Hore, London W1 this 3rd day 62 March, 1984:
*In Hong Kong, jurther partļojim lare; and (copies of the form of