TRADE and
THE CHINA MAIL, FRIDAY, FEBRUARY 11, 1955.
COMMERCE SECTION
UNEMPLOYMENT IN CANADA
New Construction Projects
To Alleviate Seasonal Lay-Offs
Ottawa, Feb. 10.
New construction which may total over $100,000,000 (about £33,400,000) in the next few years and changes in the Unemployment Insurance Act to permit the payment of increased supplementary benefits over a longer period are two of the ways in which the Canadian Government proposes to alleviate regional and seasonal unemployment.
When
Parliament met early in January, it did so against a background of cautious forecasts of a continuation of increasing prosperity in 1955.
131 a drop of ten per cont Iz 1954
Yet, when all adverse factors
The year 1954 was the second most prosperous | resultedi in Canada's history, although, as the New
Year
opened, there were some weak spots in the nation's have been teken into account. economy which called for attention.
Gold
London
Price Rise
London, Feb. 10. The price of gold today rose one penny to another tigh of 251 shillinga Il pence.United Press,
now
SINGER CO.
SEEKING
DAMAGES
New York, Feb. 10.
The Singer Manufacturing Co. discked today that it has led suits seeking damages and in- junctions against Japanese-murie tho in pewing machines Bold United States alleging infringe.. mead of a Singer-owned patent
a thread sensim device. The ruls svek not only
150 of restrain both the
to
The were
example
TU-
1954 remained a year of markable overall prosperity In Canada, with many new records set up and the groundwork put 214,000 patrons, representing a ↑
in loc still gretur expmazon in per cent of the labour forev
the year ahend. unemployed end reckung Over 1.750 000
of new
mattomand apk ment
11 Th}hysio-electric empacity wa 151.000 1HT
The 28 per cent of
developed, fr exemple, in 1934. labour force,
the R
previous exceeding all previous
by 700,000 h.p.
veur
More Catundians, however were ganfully employed as 1995 opened the at the beginning
s.1
1954, wHhugh not by many
MAJOR
records
PROJECTS
Two major projects nervinted. her this thereans the Sir Adam
is propertions to jpulation and Beck-Nirgarn generating station
the size of the labour force.
FARM INCOMES
In Canachi, 1954 saw a drastic reduction vf form İNSION
{}
per
wing to a combinat on of poor wheat crop and reduced export ales. This facter, more titan
for other, accounted any reduction t the grus national product of
roughly two
from 1949 to 1833 cent, whereas total production hael increared each year by about five per cent, giving this why 121 ሆነ - paralleled poriod of prosperity, There wis olny a marked de- cline
in foreign trade in 1954. with exports and imports per less for the first three cent quarters of the year.
Internationally, Canada freed this intensified competition in munu- device and the sale of much refactured Kods, expecially ca which
employed, but hxides, electric appliances and
well.
of sectiwal and many types monetary damages as
The first sull has been led industal equipment. today in the Federal Court of)
it
the South District of New York | SPECIAL DIFFICULTIES
Brother International aguluist
Service Corporation and Hotter Sewing Machine Company Inc. both of New York City The other sult has been led in the
AL home, special difficult::s faced the farm Implement and mokorçar manufacturers.
เ
Private Atomic Power Company
Washington, Feb. 10. New York Cityte giant Tulity arm, Consolidated Edison, anounced today that it expects to apply for
build Hoence to
and operate an atomto power plans without Government inancial help.
Mr E. R. Bearlag, President of Consolidated Edison Co. of New York, IRO., told tho Confrer Atomic Energy Committee the Company has "every of applying expectation
for a floenoo “in the very
near future,"
Later
Mr Scaring told nowwmen that the Com-
bulla ita pany
plans to atomic plant about five miles south of Peekskill, New York. Ho said it will be at least a year before construction starts-United Preps.
World Cotton
Markets
New York, Feb. 10. Cotton futures today opened maintained slightly higher and the advantage for the rest of the session.
Abated hedge selling general cautiousness sellers,
of because politicial uncertainties, prices reserved,
BRIGHTER TONE ON HONGKONG STOCK EXCHANGE
By A Special Correspondent
With the exception of one or two issues, there has been an all-round improvement in prices on the Hongkong Stock Exchange this week.
The rises have not been large but they do suggest that the depression and uneasiness which prevailed during the days immediately prior to the Tachen evacuation have cleared.
Brokers confirm that in the last few days sentiment has im- proved and they say that buyers are reappearing on the market. A good barameter to feeling in Chinese financial and business circles in the Colony Is the trend in the commercial gold rete and the American TT rate. Generally they are inclined 1 rise with any increase in tension and east when the market feels that the tension hos decilned,
הנז
This week commercial gold hus fallen from $262.025 tacl jun Saturday to 8289.878 a tael Wednesday American TT opened at $5.99 on Monday and was quoted $5.0575 on Wednes- day.
TODAY'S SHARE PRICES
(From Our Correspondent)
Business dono on the Hong- kong Stock Exchange this moming amounted to $757.229.09. Noon
and quotations morning's transactions;
มาด
SHARES BUYERS BELLERS BALES
BLANKS
Page
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards "CONFU" "CANTON"
"CHUSAN"
Leaves London, Duẻ Hàngkong
TUN March
2nd March
4th April
18th March
10th Apri
And May
"CARTHAGE" 30th March
Via Bouthampton, Port Said, Adm, Bombay, Colombo,
Penang & disgapore
Homewards
"CORFU"
"CANTON" **CHIUSAN”
"CARTHAGE"
Leaves Hongkong
Due London
11th March
11th April
2th April
1th May ►
2nd May
0th May
30th May
Mi Jun
Via Singapore, Penang, Colombo, Bombay, Adan,
Part Said & London
• Also calle Marsellies,
FREIGHT SERVICE
"SINGAPORE”in Port
"SOMALI"
alis 13th Feb.
lunds 13th Feb.
for Kuba & Yokohama for S'pora, P. Swetten- bam, Penang, Colombo, Aden, Pors Bald. Gonos, Marsellica Havre Lon- don, Antwerp, Rotier- dam & arb tirg
"TREGENNA" que 20th Feb. from UK.
With Uberty to call at Dalawak before or after Deraisa Ports and at Bombay Li inducement oflare. Tanks available for carriage of Oil in Bulik. Space for refrigerated cargo, Limited Passenger #commoda Llosa
BRITISH, INDIA S.N. CO., LTD.
trom Calcutta & S'pore for Whampoa & Japan
from Japan
for Singapore, Penang, Itungan Calcutta
"FULTALA" đue 14th Feb. salts 18th Feb. “SIRDHANA” due 22nd Feb. walls 24th Feb.
"FULTALA” dus, 3rd Mar.
Balis 4th Mar
due lat Mar.
sala 2nd Mar. for Japan
"SANGOLA"
from Japa
for Singapore, Rangoon, Calcutta de Chillsgon from Calcutie Ranspopri
Straite
P. & O./B. I, JOINT SERVICE
0
FK Bank
INSURANCES
Vado
Pies 2140 30212S
Lumbard
42 ED
200 0 40%
DOCKS, ETC.
"OLINDA"
K. Whart
Dick
23 2016
15% 15.80 2000 @ 10%
71 130 000
"OBRA"
A TOUCHY WEEK
Nevertheless it has been und touchy week in Ice House Street anong and The improved trend only foreign caine really apparent in yes-
made terday's
trading. Wednesday's morning call brought a
a sugges- in Ontario and the first stage.
Closing on a note of firmness of
t of a steadying tone but it The Kin- Kitimed the list Brushed with
confirmed net gains was not fully
when development of |jātamata kam-power
business closed at lunch-time. points. Opening prices were northern British Columbia
I said it New Orleans up 2 to 3 points.
it has been a "touchy Plast utulor
wek" in the market.
Broker's construction closed up 10 to 14 points. und scheriuled to be in speration Evening-up here the end of 1958 will add another 1000,000 h.p.
with 10 further 2,500,000 contracted for
roceeding yours. As 1055 opened, hydro-electric
123
energy
In
2
Provident
(old) Wheelock
The aby probably consider that an unfor- LAND, ETC. March ovlivery proceeded quiet.
Kivable understatement. For
Export sales of raw cotton have been very light because of
serious price competitions fron other
Recording growths,' the monthly letter of a lending
pot Arm.
to
For
ly. Outright liquidation there some it would
uld probably be more was absorbed by spot interests conect to describe it as a down- against sales of new crop mensilia, right_nerve-racking week
and locals available Commission houses
few impetuous brokers have futellut interests took the other end of
been supplying the market with 16.684.000 h.p., or less than 20 the exchange,
burid, exclusive necounts of tho per cent of known resources.
Battle of the Tachens.” These China Mail Special
private wire Tumour services have reported the sinking of a couple of aircraft carriers and a couple
Yes of destroyers.......... the brokers, to mention only a fow, will be more than glad when tho evacuation has beeCTI sfely and successfully accom- interest plished.
400,000 The main feature of this week 1,100.00
was the announcement by the upa zbo 223000 Green Island Cement Company 138,000 of its increased dividend and
19.100 bonus issue.
World Rubber
Markets
Trading volumes and open in terests In the Exchange today
were:
Volume Open
NEW YORK
EXCELLENT FIGURES
נית
FUK Hotel
16.30 15.40 200
500
HX Lind .. 00!$ 0735
24 1601 Humphrey Realty. 1.07% 2.03
UTILITIES
77.27
21.10 21:20
Yurti Ferry 184 C. Light (0) 1716 17.00 & Light (~ 141 14.00
Electric Macao
Telephone
INDUSTRIALS
Cement
37
322/
4500
443% 45% 3500 4914
45. 90 40 395 1200
20 23.30 630 Ľ 20
100 23.20
1000 g 2010
Month
March
40.700
Muy Singapore. Feb, 10.
July The rubber market opened Deliber quietly stealy but larmed December
Masch on speculative buying wird
May further political rumours.
July The
cleved
sturdy abom va cont below the best Level of the day. Future closings:
rubber per st
40,800
21,700
£1,200
$,500
3,400
1.300
81,920
ALI
1200
Toial
120),UKK)
2AGG.000
de
STORES, ETC.
Dairy
3.(On
34.07
NY Stocks Jump
per th
Feb. No. 3 Fubber
per ib.
No rubber per lb.
Feb. Spot rubber unbated Blanket rrepe
35.00
25.1#
33.2!
December
33.49
March May
July
No. pale crupo
did until yesterday but Prices of futures closed today appear
buyors who were catielpating Fel 103-1054
as follows:
had carried COTTONS Mar
Spot 103-1054
some good news Apr
March unquated
thoir bids to $43% by Tuesday. Textiles May
Yesterday the shares jumped to 104-104
July October Feb 103-102
10)15-192 104-100 03-90 100%-100%
The ANNOLINESMont
Watson
14.50 (N) 14.20 L. Crowfurd
13
20 500 @ 2515
6.40 0,00.
$48
Arg
Allied
Falling farm incomes, evening | NG Fixieral District of the Eastern on top of high implement pur- District of Pennsylvania against chases up to 1983, accounted for Brother Sowing Machine Com-the former while record buying No 2 rubber
of Pennsylvania. Philadelf maketars in 1953, making for
Both suits involve a tension device which
claims is nfringed by
thread Singer these
companies, who sell sewing ma- the chines made in Japan in United States.
The Singer Company said it is now considering taking action against other importers nud dealers who sell machines which it claims infringes the potent involved in the two nuits fled today-United Press.
Reciprocal Trade
Act Extension
Washington, Feb. 10,
u! saturation
The market.
New York, Feb. 10.
NEW YORK
Rubber futures today closed
33 to 60 points higher with Bales of 105 contracts.
Dealers reported a fair amount
The awk market rose again of shipment rubber - possibly
to another all tane record today.
several thousand tons--was dono In the outside market with The advance was general with shippers in Malaya and Slan. many individual stocks display.
Factory demand ing exceptional strength.
was
more
NEW ORLEANS
39.60
33.45
35.45
sale, fell back to $45 and MISCELLANEOUS
Yunglaze in the er announcement
closed at $484 in
The
shadows some for the year,
Prices of futures closed today balance sheet us follows:
Brport
May
July
October
December
Karch
May July
excellent Aguree
I hear, and the
and Chairman's New York Sugar
report should provide some in- toresting reading for the investing
34.25
J4.20
12 11.18 33.22-20
public.
tilities
39.62 53.02
3.18
have made
good
edvances from their low levels
In the previous week although,
Market
New York, Feb. 10. World No.
sugar futures
they are still about ten per cent closed today 1 point higher to lower than the peak levels they 2 points lower with sales of 238 In reached at the beginning of this contracts,
year.
Domestic No, sugar futures
LIVERPOOL Cotton futures closings,
per ib., American pence
On the afternoon call Trums, chorod 1. point higher to i point inch, middling cotton,
Electrics and Telephones ap- lower with sales of 40 contracte.
little hesitant. 24-25 pred to be
Future slosings were:
On Tuesday the stock market noticeablo, with April delivery were as follows:
receded under the impact of the jchanges in the Soviet Govern-
15/16
done at 30 cents one sheets and March delivery 33%
at RES were cents. Spot No.
a pound,
37.83
30,50-00 35.95 35.00
values for
Mar/Apr. May/Juno July/Aug. Oct/Nov. Den./Jan Ofdel include:
20 points declined on Indian and
exception Pakistan, with the
3220
32.18 11.99 31,38 spot cottons
of
34.95
34.40
The House Ways and Means ment. But the next day a sharp quoted at 37 cents Committer today voted approval recovery drive started and has
nominal. Futuro closings: of a three-year extension of the continued strongly. Reciprocal Trade Act, with no IG! Toronto the Canadian its charpest major concessions made to op- stock market had
United climb in more than four months. ponents of the Bill.
—Router.
Pres9.
US Man-Made Fibre
Production Down
New York, Feb. 10.
Mar
May
July
Sept.
Dec
Mor,
а
Vibro Filings ennounced
Д
good dividend of $1 earlier this Contract No. 4 (world)
March weck with $1.50 bonus and I
May see that buyers are now offering Jiy $18. These shares have made a September good advance in recent months and, with the building boom con- Bongal which is 80 points decline.
Exyptian Gita 30, fully/good, 39 tinuing their prospects are good. points advance.
Que Ard Feb.
sall 23th Feb.
from Japa
For Singapore, Penang, Bombay, Karachi, Bas * rah. Khorrambag Kuwait
que Zod Mar. from Karachi, Bombay,
Cochin & strigapore catis 4th Mar, for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE”
"NANKIN"
duo ith Mar. from Japan salle 8th Mar, for Bandakan,
Biclana bourne de
due 13th Mar,' from Austratio salis 14th Mar. For Jepart
Rabaul,
Mel
de
All vessels have liberty to call at any parts on or off the route as the route & sailing are subject lo change or amendment with or without mottos.
For full particulars apply to `- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4
EVERETT
LINES
EVERETT ORIENT LINE
to
Fast regular freight refrigerator
service
Korea, Japan, passenger Philippines, Indo-China, Siam, Malaya, Rangoon, Calcutta and Chittagong.
"NOREVERETT"
Arrives Sails
Feb. 19 from Singapore, Feb, 20 for Kobe
"REBEVERETT"
Arrives
Sails
Spot(cents per tb. fob Cuba) Open interest, 3,423 contrmeria, Damesile No. 0 Contract
Others were all unchanged.
Cotton futuros glosing, cruzeiros per kilo were as
In
March May July Beptember November March
lows:
term!
30%-30% 2013-3071
Mar.
20,00 20 BO
May
July
20.65
30.80
Oct.
•Dec.
11.20
LONDON
The market was fim. No 1
SAO PAULO
May quoted at 30% Rss spot were pence per lb. Prices:
No 1 Ris Dot
Settlement
March
[April/June
July/Sept
house
Oct/D700, General markets, cif basis, Feb.
Mar, April
thin
Total man-made fibre production in the late crops thick United States during 1954 declined 4% per cent to 1,431,800,000 pounds, according to Textile Organon, Statistical Bulletin of the Textile dood in guilders par kilogram, Economic Bureau, Inc.
production
during
AMSTERDAM The market was firmer. Prices
CIF Fob, as follows:
No. rubbar
No. 3 rubber No. 3 rubber
No. 1 crepa
1.01 huyors
United Fresh.........
Imperts of man-made stapte London Foreign horwe painted out,
at
Production of acetate flament or oxcred Damprinted to 1,088,700,000) 1984 end producers clock thus pounds, down 0% per cent from declined to 87,600,000 pounds 1958, while non-cellulosic fibre at year-end of 1059. output rose 14 per cent, to 340,100,000 pounds,
Oriranon
in the first 11 months of 1954 ever, that world production of totalled: 40,819,000 pounds rayon and acetate flament year-end, comparect with 68, yor and staple in 1954 in 711,000 pounds in the full year crossed 51% per cent to a record 1983. 4,300,000, pemde. Output of staple was up 15 per cont while yar production declined 41⁄2 per cent
Organon also noted that stalp mental generally kept pace with
Exchange
New York Montreal
Thare Imports consisted of Amsterdam 45,081,000 pounds of rayon Eirsummala staple, "and" 158,000 pounds Roof | Parla non-celluloele man-made fibre W Unlied Press,
WHEELOCKS BETTEL
Whoolocks have made a emet during the week. fol-Improvement
Last Friday they fell to $6.90 but today they showed strength and climbed up from $7.15 to $7.30 on a turnover of 5,400
hares.
Wharves and Docios are still the doldrums but Providents,
In the United Stales, the
. of price average
15/10th middling cotton at 10 designated spot markets was 34.10 cents are Bales at these contres totalled 14,285 baleaUnited Press,"
No New York Stock Prices-
The New York stock market .comment andi Dow-Jonan closing averages were not receivôd this | morning-United Frogs, **
New York Yen
Rate
York
Proy market Japanáso/yir to the US. ae quoted by Pick World
a little better on the wook There has been a fair amover of Hotels and Lands but no trend is evident.
Spotcnte por lb. cif NY
<exutisky) an Open interest,
BAS
Contracts.
United Fremd.
Exchange Rates
*Business was done to the local
exchange. unealai
market the morndog at the following rster:- U.S. dollar (per 83) akars
Rubbers, slipped back, again Sterling notes per £1)|| this wool with Amalgamateda | Indonesian, semiah (per 100).
meals per 100)
rolling 075 to $1.825 and Trusts
Calling to $2,70.
Shigsporu. (BR0490) 149)
|Indo-China" pinaire (per 100)
MESSAGERIES MARITIMES
‚‚P.O. Box 13 Queen * Building & NH38).
SO FAST. PASSENGER/FREICHT SERVICE".· "CAMBODGE".
"VIETNAM”"
dalling Feb, 26th
iling/Apr. 8th!
lper Mar. 2nd
Mar, 10th
& Yokohama.
Feb. 23 from Manila. Feb. 24 for Singapore, Penang
Rangoon, Chittagong..
Calcutta
(Accepting cargo for transhipment. Kobo/Puan
401
Kobe/Okinawa)
EVERETT STAR
LINE
to
Fast regular freight — refrigerator service Japan, Malaya, Colambo, Bombay. Karachi - and
Persian Gulf.
(Kubject to inducement for direct call Korea).
"STAR BETELGEUSE".
Arrives
Balls
Arrives Salla
Fab. 16 from Singapore,
Feb. 10 for Kobe & Yokohama.
Feb, 20 from Japan..
Fob. 27 for Singapore, Port Swel
tenham, Madras, Colombo, sa Bombay, Karachi, Basrah, Kuwait & Bahrein, (LIMITED PASSENGER ACCOMMODATION) (Accepting eargo- for transhipzavazzá \Kobe/Pusan
Kobe/Oklanwn)
EVERETT STEAMSHIP CORPORATION S/A
with almitos", Idability) Chinère Department: Telephone 28293. Queen's Building, Telephone 31206.