THE CHINA MAIL, THURSDAY, AUGUST 11, 1955.
TRADE and
COMMERCE
SECTION
Pago
PRODUCTION OF TITANIUM Brazil's Wheat HOLIDAY SEASON
HONGKONG STOCK EXCHANGE
(From Our Correspondant)
Business done on the Hong- kong Stock Exchange his morn- ing
amounted to $1,100,000. Noon quotations and the morn. ing's transactions:
SHARES BUYERS SELLERS BALES
GOVT, LOANS
32 (1040
1700
5000+ 9215
101 1000
17
31030
BANKS
TK Bank
INSURANCES
Unlun
1020 1030
30 1035
24 10:30
22.40
75'
70 300 73
Logk
1
Provident (N
111 1000
1602
9 1300
16 15:20 0.70
SHIPPING
Waterboal
DOCKS, ETC.
1. Whart
Wheelock
LAND, ETC.
His Hotel
UK Land
RUBBER
2000 11.93
Chemical Organisations
Submit Application
For Joint
Production
London, Aug. 10.
Imperial Chemical Industries Limited and Columbia- Southern Chemical Corporation of Pittsburgh, USA, have submitted a joint application to the United States Government for a contract under which the Government would undertake for a five-year period to purchase 5,000 short tons per annum of granular titani um metal.
In their application to the Government for a contract have completeri the companies have stated that they arrangements for the introduction into the United States of a granular titanium process not at present employed there and would also make available to fabricators techniques not at present known or employed in the United States.
If a contract is awarded in enterprise lies in the production
19 DU 2060 20,10 pursuance of their application, of titanium tetrachloride, from
500 20.20 ICE
and Columbia-Southern which granular Hanium metol 2562010Chemical Corporation will form will be "marie.
5.00 10AM a jointly-owaed subsidiary for
the
of purpose
Hitanium
producing melal
World Cotton
Markets
INT'L SUGAR
COUNCIL
MEETS
London; Aug. 10. The Executive Committee of the International Sugar Council met in London today.
Top question on the Com- mittee's agenda was how much farther to cut the export quoins to the free market of the sugar- producing member countries.
of
Under the terms of the In- ternational agreement export quotas must be cut by at least five per cent if the world price sugar remains for 15 work- ing days below the floor price fixed by agreement. This will be the third cut in quotas since the beginning of the year due 10 low prices.
Another
cut five per cent would
represent tonnage of 207,004 of which Eastern European producers, excluding the Soviet Union, would count for 26,750 tons,
ac-
Production
Rio de Janeirò, Aug. 10.
Arthur Santos, head of the Bank of: Brasil's Agriculture Credit Depart ment, announced today a $40,000,000 programme for development of wheat production in Parana State.
pro
Brasil's wheat
duction of about 800,000 tons annually now comes almost exclusively from Rio Grande Do Bal and Santa Catarios States.
Wheat is second only to petroleum in valus among Brazil's Imporia, The country currently importa
than 8,000,000 to of wheat annually.-United Press
more
MALAYA
BYPASSING
HONGKONG
RELIEF FOR
STEEL INDUSTRY
London, Aug. 10. With the peak holiday season now here, the iron and steel market is virtually idle.
Producers of many products are so heavily booked, however, that they are glad of a respite from the incessant pressure of demand.
No serious repercussions are expected to follow the rise of prices which had been geriond- ly anticipated.
In any event, British iron and
steel is still relatively cheap and
Australian
consumers who are compelled Wool & Wheat
much
to buy foreign material find that they have to may higher prices.
Following the rise in dome- stic prices, certain categories of} Brith steel expert prices have been raised by £2 to £3 per
ton.
Among heavy items, plates of
Øver
Prospects
Excellent
Sydney, Aug. 10.
3/10 of an inch thickness and Australian agricultural experts have been increased by drew a highly optimistic picture £3 per ton to both Common of Australia's wool and whent wealth and non-Commonwealth prospects this season. destinations to £42 per ton
to non-Commonwealth de
Excellent climatic conditions.
Singapore, Aug, 10. Malnya is buying more and and more goods from China
direct are Inade shipments from Chinese ports Instead of and
said stations to £43 per ton both it was sald, had ensured record vla Hongkong, importers
FOB.
wheat crop and wool clips, with here today.
In re-rolled products, rein=|prospects of record, exporta this, QUOTA DEFICITS
Importing house sources sold forcing bars have gone up by season. Another
from the that goods matter which
China are £2 per ton, bringing the basis
A report issued yesterday by Executive Committee will dis- usually brought in by barter for 5/8 of an inch diameter and
trade. cuss is the question of quota de-
Company said the all Dalgety and Under the barter trade larger to 240 per ton for
Eastern Australian scene prò- ficila, Due to last season's bad arrangements Malayan products destinations,
Meanwhile,
of harvests of
new miscd "most widespread abun- beet in are shipped to China where sugar Liverpool, Aug. 10.
by dance.
of herbage for many steel plant has been given Trade Bureau Cotton future closings, Ameri-Eastern Europe, which Includes Goverment
Fox the sugar-exporting countries of | distributes
Samuel the them. From
and Company years," in pence per lu, Poland. Czechoslovakia, Hungary proceeds of the sale the Eureau Sheffield, a branch of the United already carrying a record sheep
Limited.
of Stockbridge. near
It reported that the land was and USSR, these countries have buys Chinese goods and ships been unable to deliver their re-
Steel Companies.
"oven population, adding that them to Malaya, the exporters
spend nearly the most quired quotas and have become getting a three per cent
They
conservative' graziers pro- £2.6 million on a now temporary importers.
com- subscribe to the view that Aus- bination bar and continuous rod stralla will soon carry 200,000,-
heat 000 sheep."
Columbia-Seuthern which is by itself as of the leadbag Ameri- ICI's sodhum reduction process,ean producers of chemical pro- wholly-owned ducts and is subsidiary of the Pittsburgh Plate Glass Company, has been in earch 011 the engaMETAL chlorination of titanium-bearing can middling. ores since 1937. It has estab-were as follows: fished a broad patent position
509 v 19.430
72
73 1100 737
1000
23
Kranular
Humphreys Really
20.30 2.25 2.30 8000
2.321) 11,600 mA 2.30
A. Rutiber
.2.15
33.000 1000
24.00 700 23
13 100 ON
KO
120 130
120
120
231
Ruber T..
UTILITIES
Tra
Star Ferry..
Yaumuti Ferry
C. Light (0) 23.10 231⁄2
S. Light IN)
Picctric
Marzo Elec
Telepho
INDUSTRIALS
Cempat
STORES, ETC.
Dairy
Watson
E1.20
34
33% 200
will companies The parent cach hold a 50 per cent inter- est in the new company, which
as Columb). would be known Titanium Company. The plant would be built at Natrium, West Virginia, and would have
a capacity of 5,000 short toms per annum.
The cost
of
the
in this held and today genees other companies under Colum- bia-Southern patents.
proposed Columbia-Southern and
Patent Position
Oct/Nov.
Dec./Jan.
Mar/Apr.
May/June
July/Aug.
ICI
KARACHI
to
in
30.50
201.03 20.37 28.0
can
are
Under the agreement they 23-40
should have notified the Council 18.20 200 18.10
metal plantbelleve that their proposal granular fitanium
of the size of their quota de- 43% 1000 44
the in
Prives of new crop were high-floits by of the Government will result 2000 41 will be
region
now. Despite this. US$10,000,000.
lower capital
production is erratic en conflicting rumours however, and
these countries 400 / 341;)
Fensts and in the acceleration of about export duty revisions.still use their quotas until the
s titanium fabrication Industry For the last two days there were end of the year and there in the USA. China Mail strong rumours about export already Indications of offers of Special,
duty en staple varieties will be sugar coming from East Ger- raised 50 per cent as demanded muny, Poland, and Czecho- by Pakistan Textile Mills Asso-slovakia during the last three ciations, as they plead that they moribs of this year. are the biggest consumers of Pakistan collon, and hence need protection,
100 of
ICI's patent position and 23000 23.3
500 23.30 pruduction experience have an 100 21.30 usually broad buse through 100 M 23-20 their experience of chemical
metallurgical and
1000 un 23
15.70 Crawford 371% 5815 300 30
knowledge
technology World Rubber
Markets
Their patent and procese extend from the production of granular Uitanium New sadiumi by their
nictal
Exchange Rates process, to melting, scrup re-
covery, alloying, testing, joint-
New York. Aug. 10. Rubber prices reached new are favourably placed by virtue post-Korcan war highs with no 13or their
IaIndication of А реак being. wide experience
Business was done th the localing and fabricato, in the lat- unofficial exchange market thikter of which particularly they morning at the following ralcs- U.S. dollar (per $11
12.00 non-ferrous metal technology. reached, Bache and Co. said lo-
Sterling nutes (per £1)
Australian nutes (per
1)
Indonesian rupiali (per 100)
13.33
Slara teak (per 1001 Singapore (Strait
23.30
1.80
Indo-China piastres per 100)
8.15 bution
Columbia-Southern's contri-
to the proposed joint
West
Eire After German Industries
Bonn, Aug. 10,
The Eire Government plans to encourage the establishment of German industries in Eire to help the country towards national, self-sufficiency, Mr William Norton, Eire's Deputy Prime Minister of Commerce, has stated here.
Mr Norton, who was on his way home from a private visit to a trade union meeting in Wiesbaden, stopped here for talks with Dr Franz Bluecher, the West German Deputy Chancellor.
up
in
10
in
day
on.
The advative has been based primarily
"unprecedented" demand for natural rubber by the United States and a sharp increase in demand by Russin, the brokerage house said.
80-4
LOWER PRICE.
Tinde circles In London say
the
been Russian
At.
are to
news
bar
and associated The sources said that direct mill and purchases
cost by treatment plant. reduce the
A report by Goldsborough Completion of the project is between three and seven per
Mort Company said that sca- two years' Ume. expected in cont compared to purchases
Insomal prospools were the best in Provision is being mode made via Hongkong,
the initial layout for the erec-many years.
Rural Bank President C. R. Goods for Malaya come from tion of an additional mill and
of the new Mckerihan said he "had never for the extension bar treatment plant should these seen greater evidence of a bum Tlentsin, · Swatow, Dairen
developments. be required In per year" for, farm production. Tsingtao.-United-Press.
-United Press. future.-China Mail Special.
Chinese ports IS Shanghai,
Singapore
and
satellite countries for shipment Stock Market
- Prices closed today in rupees that sugar has already
from offered per mound as follows:
trupee and ansas) during the latter part of the 4-F Sind_joller-ginted
00-12 year at four pounds sterling per 280-FNT Sind roller-gione.. Haw-ginneų
100-12 ton below, the price of Britisli
07-13 200-FNT Punjab, roller-ginned
réined. 100-12 saw-ginned
-United Press.
Chicago Grain Prices
•
Chicago, Aug. 10. Russian purchases, it noted, are
Prices per bushel in cents:
Closing prices the heaviest in four years, with no indications they have near Wheat No 2, red
Spo1
104 covering their requirements.
September 19511) 40322(1) 19374-44 Bache said it further increases December
March
108 for
May develop, a price increase
can also be July
182 synthetic rubber expected,
AMSTERDAM
Corn, No 2, yellow Spot September December
130
The market, was weak. Prices March
closed today in guilders per. May kilogramms, ell Aug. as follows: Ire
4.1.
No. 1 rubber No. 2 rubber No. 3 rubber
No,
BINGAPORE
4.00 nom. September November 3.85 rom. 4.17 nom.'
Oats September November
The market opened firm with Soybeans, No 2, yellow active trading. There was some Spot profit-taking at high levels, but September Mr Norton said any German | goods could be exported
all was well absorbed The November enterprises set
Eire Britain duty-free and would also market was uncertain towards March
facilities would have the benefit of Cum- enjoy special Ironwealth preference arrange- Canado, Australia, New Zealand, the close, ments through Elre's trade und South Africa. Among other could agreement with Britain.
which Eire Their advantages
offer German industrialists, Mr Norton 1sted abundant power and cheap electricity.
Telephone Contract
For Germany
Teheran, Aug. 10. West Germany has boen awarded
to supply a contract Porsla with 180,000 telophones, It was stated here today by n German trade official.
man
131-130% 125-14- 12014- 13112-1
87-15 100%
B74%
GL-60%
2441
228
223
January
Future closings were: No. 1 rubber per b..
August
May
Barley,
No. 2 rubber per ib. Aug.
1511-75124 Spot 153-10312
New York flour unquoted 1404-148 200 lb. nack 140-7411
$14.10n
United Prem
September
October
No rubber per lb. Aur. No. 4 rubber per tb. Aug. 131-132
114-115
163-152
In order to develop her in- Spot Tubber unbaled 13112-181% dustry, Eire did not need new Blanket crepe Imoney so much as competent No. 1 pale crepe ...... tcehnlelans, Mr Norton said.
LONDON
Confidence spot down 1% penco to 42
pence.
Oct/Dec.
Fatures closed today with
No. 1 Rss spot was
Prices were: The new enterprises needed quoted at 4194.
Settlement howe tern! bo supported by only 40 September
42-4314 much German capital as would October
4136- $135-4 demonstrate German Arris' con dence in their new ventures.
Eire was chiefly interested hij expanding her textile and light engineering industries, Mr Nor- ton added. There, would also be a good market for agricultural machinery, and a
prosperous chemical Industry could rounded in extile products,
Mr. Norton also stated, he The official said the contract, would be sending a "high-lovel signed by the Persian Ministry delegation to Germany in Octo-
He said the German bid had accepted in competition been
British, against
American, Japanese, Belgian and Swedish firme.
Was
be
be
Jan/Mar. Apr/June
General markets, cif basis, porta: August,
42-4214 September October
41.42 Estate Grupo Aug, and Bept. thick and tun were unquoted
New York prices were not received-United Press.
LONDON PEPPER MARKET
London, Aug. · 10.
120-140
NEW YORK METAL FUTURES
New York, Aug. 10. Prices of metal futures closed doday in cents per lb. as follows:
the
Singapore, Aug. 11. Brokers today quoted the following stock prices;
Opening
Sugar circits here do not believe that a third cut in ex-flatu Lintang Rubber Co. Ltd. $1.65
British Borneo
Petrolcum port quotas by the Executive Syndicate
4TR Committee would have this Consolidated Tin Smelters
Ord...
30% 3d desired effect of causing
Fraser & Nerve Ltd. Ord. 1.70 price to rise. While it is realised Fraser & Newve Ltd. that there are still certain coun 1357% cum. prei.
$6.50 Hongkong & Shanghai Bank- trics that will have to buy suging Corp.
under trade from Cuba
and Hongkong Ltd. bilateral agreements, there seems Kemper Ltd.
to be ample sugar to supply the Lanes Rubber Estates Lid.
Malayan Breweries
world's needs for the remainder of the year.
In consequence, the trade here belloves the market will remain quiet for the remainder of the year-United Press
London Foreign
Exchange
New York
Montreal Amsterdam
Brusela
'Copenhagen
Lisbon Oslo
PATIE Blockholm Frankfurt Zurich
Others
Press,
London. Aug. 10.
2.78-1
10.0216-
150 127%-100.13] 10 3318-19.394& 79.00 30.05 10.00-19.999% 0733-074 1436-14.95 11.00111470 12.1634-12.17, were unchanged.--United
London Wooltop Market
London, Aug. 10. Wooltop, futures market closed steady with prices quoted as follows:
September
Lead Aug.
14.00
Sept. Tin Auk. Sept. Zine Aug
Bept. Copper, Aut. Sept.
14.67h
90.60b
October
34.000 December
12.500
January
12,15b
47.000
May
45.750
United Press
September
LONDON METAL
PRICES
London, Aug. 10. The tin market was steady in the afternoon. Other metals were also steady. Prices clowed today in alériing per long ton 25 follows:
of Posts and Telegraphs and the ber or November to inferview West German Ministry of Pozia, industrialists who might
valued at between $20 | willing to invest In EJN. it Pepper market, was decidedly million (marly, 27 million) would be led by Dr. James dull White Sarawak was quot- Tot and 380 million (nearly £11. Beddy, Chairman of the ca, at 31, 43, while black Bary. ·B-month
Copp million)
It was the largest ahula contract granted... to. Cermany uitics the wRK/
Government's Industrial De, walk-spagialewan on 26 3140,
velopment Commission, art by rollers, for o Augu #hipment."] Lend
K:Jonn Loydon, “ high ofčin) Black, Malaber,
of the Commerce Minilstry. quoted at 322». 6d par hundrede. China Mikli Special.
Rinovitat
March
July
October Elecernber
New
-Unid
1-10075
New Secandah Rubber Co.
Lid.
Petaling Tin Ltd. Raffles Hotel
Singapore Cold Slomge South British Insurance Co.
Ltd.
Straits Trading. Strata Steamshilp United Engineer Oni. Wearne Brds.
30T0
3 1.80
$2.30
3.30
1.GO
China Mail Special.
888 888 88222
U.S. May Reduce Oil Imports
Washington, Aug, 10. The U.S. 'Government, possibly moving to curb foreign lim- ports, asked importing com- panica today to submit informa- tion on their shipments of crude petroleum, refined products and residual fuel off.
It sought data covering the first seven months of this year as well as anticipated Imports for the next 11 months.
The action came a week after 27 Bonators demanded to know what the Government intends 10 do to hold down imports which are allogedly hurting domestic production. United Press.
Currency Talks
In Korea
Washington, Aug. 10. Authoritative sources said to- day Korean and Antèrican nego- tiations appear to be approaching jan agreement, to set the ex- chaine Tate between the Korean Hwan and the United Bates “In the neighbourhood of 458 to
ork Wooltop one ca
They, “said.
that the on how
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Satts Sept. 12
-- Sept. 30
- Oct.
1
- Oct.
12
--- Oct.
13
24 Oct.
www, Oct.
20
Loading for Koba, Otaka, Nagoyz, Yokohama.
"REDEVERETT”
"NOREVERETT**
TRADEVENETT**
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ATT. Aug. 13 Ball Aug. 14
-- Sept.
2
Sc# Sept.
-- Sept. 14
3 -- Sept. 15 Sept. 27
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17
- Sept. 9
Silla Aug 18
Sept.
Sept. 28
Oct. 2D.
-- Sept. 27 - Oct, -Nov.
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7 - Nov.
Sall "Aug.
- Oct.
Oct
Bept. Sept. 19
.15 27
Tom Hopt. -- Sept.
Oct. 20
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