THE CHINA MAIL, TUESDAY, SEPTEMBER 18, 1955.
TRADE and
COMMERCE E
Page 9 FORMELHOF MOI22343)7
SECTION
BL A
AMERICAN ECONOMY UK EXPORTS New York Stock Application
WORLD COTTON MARKETS
New York, Sept. 12. Cotton futures today opened lower and remained on the defensive for the rest of the day.
HONGKONG Price Increases But
STOCK EXCHANGE
(From Our Correspondent}
kong Stock Exchange this morn ing amounted 16 $1,810,000.
Business done on the Hong-
In the third straight session Noon quotatione and the
of sagging prices, ali 1850 der | morning's transactions;
Jiverles lows."
dipped to schsonal
Trading developed in spurts, but in the
business overall Was on the qulet side while several traders pondered the uncertainties overhanging the market,
Cited
among them were:
SHARES DUYBOS BELLERS BALES,
BANKS
234
1.
HK Bank Earl AR INSURANCES
Union Lombard .... 52!$ DOCKS, ETC. K. Whart Dock
$740
Disposal of the Government's raw cotton surplus; 2. Unetr-
Govern- about future tainty ment policies on prices sup- ports and production controls; 3. Quietness in the textile mar- kots with fcurs that lowered Japanese tariffs on cloth imports wli!
Provident
Wheelock, 0.00
incan increased competition LAND, ETC. for domestic mills and a resul- lant slow-
slow-down la raw cotton used here.
Carolina mill interests on Mon- day were credited with selling around 7,500 bales in the December delivery.
Traders guessed this selling was either Jiquidation of futures against purchases of spot cotton, or hedging against cloth Inven- tories, encouraged by the Japan-
competition fears.
Closing at the day's bottom levels the list was off 16 to 24
Opening points net.
prices were off 1 to 5 points. New Orleans closed off 10 to 23 points.
Trading volume and open interest in the Exchange today were:
Too Early To Predict Inflation
By JÖHN MORKA
-New York, Sept. 12.
A longshoremen's strike tying up the port of New York, shortages of steel and copper and 5165 1750 indications that labour will deal more gently with independent automobile producers than it did with 1010006 the "big three" marked this holiday-shortened post-Labour Day-week in US business.
20.00 500
1000 20.00
2000 20.70 10 3000 11010 1200010
1634 800 20.40
IK Hotel 18.00
1K Laud
74 21umphrey' 20.40
(N)... 30.40 19.80
..... 2 Jay
Realty
RUBBER
A. Rubber,
UTILITIES
Tram
500 as pos
10 500 18.00
2500 10 75 1400 75
2000 W 2015 800 19 150 500 6 10.50 15,000 @ 23716
12.30 20,000 @ 22115
Star Ferry Ymas Ferry 10
The week, as expected, brought some price increases, notably in copper, zinc and platinum, but it was still too early for any solution to the the traditional autumn question of whether unawing in business will drive the American economy into a new inflationary spiral.
Thirty-thousand longshoremen walked off their jobs at the New York and Now Jereby plers Wednesday morning in protest against recent arbitrary and in- human actions of the New Waterfront York-New Jersey Commission set up by the two
to curb union racketeer 24.00 100 25
states 500 6 24.00 Ing, The chief complaint of the strikers seemed to be that the had withdrawn Commission work permils from unich diem- bers with lengthy criminal re- cords.
140
C. Light (0) 231⁄2 23.80
C. Light (N) 10.20 18.40
Electric..... 435 43.75
110
iai 2200 @
300 120 2000 2
600 db 23.00 500 2510 200 10.80 500 g 10.50 200 9 46 3300434 Масло Elec. 143% 11.00 Telephoto 32 34 3250
209034
36.78 38% 1800
Month
Volume
Open interest
INDUSTRIALS
Comment
Oct.
10,800
201,800
Dec.
37300
739,000
Mar.
8,700
356,300
May
9,000
421,400
July
4,000
270,400
Dec.
3,000
132/200
Mal
70,300
2,161,700 bales
NEW YORK
L
STORES, ETC.
Dairy
Watson ... 14.70
Crawford 37
Prices of futures closed today
as follows:
Spot
Oct.
Dec.
Mur
May
July
Dec.
NEW ORLEANS
3456
23.29
33.21-20
33,01
33.00
12.42
32.10
Prices of futures closed today
as follows:
Spot
Oct.
Dec
Mar
Mary
July
Oct.
Det/Nov.
88888888
RRACORNS
32,12
LIVERPOOL
Future closings, in pence per 1b., American middling, were
ns follows;
Dec/Jan. Mar/Apr.
May/June July/Aug.
SAO PAULO
Future closings, in cruzeiros per kilo were as follows;
October
December
March
May
July
In the
COTTONS
3410
80% .1000
2000 ₫ 30
2320 23.30 1500 23.20 500 23.20 16 100 @ 1490 2100 14,50
.... 3.80
0 3600 @ 800
35 8.25 2000 420 ...... 5.90 5.50 1000 or 850
Textles
MISCELLANEOUS
Yangtze Allied
Singapore
Stock Market
PICK UP
London, Sept. 12,
British exports picked up considerably during August after haying undergone the harmful Influence of railway and And dock strikes ki, Juno July.
Today, the Board of Trade anngunded
that British exports, (fob) for Anguist
amganted t £284 millón dealast £222 million in July and £157
million in June.
In spite of this improve- ment Brital has agam registered very heavy trade deficit of £68 million.
Imports amounted to the Jovel' of £342 million high (olf).
The level of British ex- porta to the dollar sono canthues to Бе factory--FraNON-Presse,
World Rubber
Markets
Singapore, Sept. 12. The rubber market was quiet the price to British consumers with little interest in trade. to 45 cents a, pound, two cents Futures: higher than the US price, which may be forced upward, Zine No. 1 prices In the US climbed 14 gent per pound to 13 cents dur- Ing the week, and platinum coured $11 an ounce to $91 an ounce for bulk and $94 small quantities.
Other developments:
Employment
rubber per lb.
rubber per lb.)
rubber per ib,
**Sept
Sept. Oct. Nov. No., 2
No.
for
Sept
No. 4
rubber par 15:
Sept.
Spot rubber,unbaled Blanket crepe
A
Employment in August set Passengers continued to arrive new high for the, third copsecti from and depart for Europe but tive month, The figure was 05.5 freight traffic
seriously millions. Unemployment, accord White collar office ing to the US Department hampered.
of workers from the various ship-Layoun, dropped about. 250,000 ping lines handled the mooring trom
the July total of 2.5 lines and passengers luggage ofthillions. arriving and departing ships, of jd dozen flaga but loading
and 1935 unloading of freight without the services of the picketing long shoremen was a tough nut crack.
In Sympathy..
to
Near the week's end, sym- bathy walkouts were ocoursing in Boston, Philadelphia
and Hampton Rouds, with other strikes in the making of other ports.
No. 1 palo erepé
24"75-14015 PLAY-MON unquoted
139341
- 142-14234*
135-138 14837-147%
113-135 149-155
NEW YORK
¿ Futures closed today 25 to 30 points lower wiût sales of 174 contracts,
Markets of
New York, Sept. 12.
of US anti-trust laws
Washington, Sept. 12. "Senator Harley M. Kilgore Several spectacular moves among the indusnounced today that he will trials took the spotlight today while rails rested confer in the European capitals with American businessmen con- after their leadership, last week.
corming the application of the Industrial strength, centred in steel, motor and United States anti-trust laws to sorelyn tracto and foreign Invest- metal shares lifted the average nearly 2 points to a mente a
new all-time high. Rails, with mostly fractional Ben. Kilgore made his decision
Utilities after changes, held unchanged on average,
American chambers of commerce in Europe wrote him dipped a bit..
expressing interest in the cur rent investigation by the anti- trust And monopoly emitton and
Trading continued at a good clip with turnover of 2,520,000 shares. the heaviest since July 21, compared with 2,500,000 shares on Friday.
US Gypsum was the thyr mover, nouring 29% points to $325
five-for-one stock split wan proposed by direc-
tor
04 0
Standard Brands Standard Oli of Cal. Btandard Ol of Ind. Standard On of NJ. Stokely Van Camp, Studebaker-Packard Corp. Swift & Co. Texas Co.
Tide Water Assi. Oil Twenty Century Fox Film Union Carbide United Aircraft U.S. Gypsum U. B. Line Co, US. Rubber US. Smeling USB, Steel
1331 views beco
.463%
sub
that their
"Since it is the policy of Congress to encourage Ameri- can businessmen to engage in to maka
the' Senator said "It is incumbent
foreign. trado and
Investments
foreign
1 on us to determine how this
પ
be policy
may
effectively Balcarried out without rinning foul of the oqually important policy of maintaining effective competition under our anti- 50% trust laws."---United Press.
-United ProM.
Reynolds Metal, a centre of attention for some time how,
Warner Bros. shot up another 18 points to
Worlinghouse Electric $297 on the day's most active wet Va, Pulp & Paper turnover. Reflecting this move | Woolworth on... the American Stock Ex- chango, US Foll B_which holds a large interest in Reynolds, ran up. 10/points to $227. The latter proposed a six-for-one spillt last week.
Motors Up
**
'General Motors shot up near-
4 Jy points
the time approached for the special mpeting at which stockholders will consider, a proposed three- for-one stock split. Chrysler followed G M up with a gain of almost a points.
Demand for steels
lifted Bethlehern, Armco Crucible, Inland and Republle Stect a
Iwo point to
and points Youngstown Sheet and Tube more than 3 points.
In rails, movement was nar- row except in a few issues. Rock Island, Northern Pacific and.
New York Central lost around a point. Illinois Central' gained almost one,
The market moved Irregular 1y while treklers consolidated positions after last week's 'Hid In Pointing out that the 1929 and and pending, developments 1937 stock market declines oc- the waterfront strike. intefest
of 3 total 1,1983 les traded, curred shortly after Labour Meanwhile, factory Day, the Journal of Commerce in the spot market, simmered
505- advanced, 458 declined,
volume today on the Bond took a look at the market and down to
Practient halt. New
York Exchange was decided that elements
Among the Best sales reporta $8,380,000. strength and potential weakness were November one sheets, dr
Volume от the American are pretty well balanced, with 473% cents, and December .ones
Stock Exchange wàs 800;000 the line of least resistaxe still br 47 cents a pound
Spot shares. upward. However, the paper No. 1 Ras wero quoted at 3844 warried Investors to be alert
of
a
against any evidence of change cents. nom. Futures:
LONDON
-
Closing Prices
$0.05
Alden Inc. Acs.
Allied Chemicals
43.84
41.30
Allied· Mille- Inc. Allis Chalmers Arborichililinä, American Cyanide Ami Mich, & F day, Americks" Metal, American Smelting American Toi & Tel American Tob. "B" Anaconda Copper Armco Steel Armour 44-Baldwin-Line Ham.
pence
The market was barely steady with spot quoted at 42% per lb. Prices:
No 1 spole
In the situation.
Sept. Back-to-school business in- Dec. creased New York
Mar. department May Elsewhere on the labour front store sales last week. Compara- July the United, Auto workers sign-tive figures from reporting stores Sent. ed an agreement with American showed business
per cent Dec. Motors Corporation embodying above the same period last year. much the sanią wagę, increases The Commerce Department and guaranteed wage benefits reported that wholesale sales in wrung .from Ford.
General July fell nearly 500 millions be Motors and Chrysler, but, de- low June's, volume, but topped Laying for 16 months the July of last year by more than effectiveness of the layoff pay 100 millions. Inventories show- provisions. This apparently w
ed a starp rise. recognition that the ladepen-
The same department an- dent producers have "special nounced that បទ exporters problems," and augured similar shipped 10 per cent more com
with concessions in bargaining
mercial good abroad in the first Studebaker Packard Corporn-seven months of this year than tion and Kaiser Motors Corpora- in the like period last year, with tion.
total exports amounting to 8,000 Auto production was headed millions, including 753 milliona this month for the lowest point in military. ald
of model United Press. of the year because changeovers, but was expected $180 cd to pick
Singapore, Sept. 13. Brokers today quoted the fol- lowing stocle prices:
Opching
Batu Lining Rubber co.
La
Bridal Borneo Petroleum
Syndicate
Consolidated
30,42
31.22 Fraser & Neave Lid. 712
cum. prof.
Smetter Ord. Fraser & Neave Lád, Ord..
Ale
20
$1,77
$6.49
ing Corp
20 22 Hongkong & Shanghai Bank- 28.03
010
23.00 Hongkong Tin Ltd.
734
Kompan Lud
Luna Rubber Estates Ltd... Malayan Breweries
$3.00
New Serandah Rubber
32.70 Bates o
$4.00 2
$1.00
$28.00
Petaling Tin Ltd,
360 Singapore Cold Storage
Ltd...
33.40 South British Insurance Co 33,00 13.30 Strast Trading United States, the Straits Stearnship
United Engineers Ord,
average price of 15/16 middling Weare Bros.
cotton at 14 designated spot markets was 33.20 cents. Sales totalled 40,077 bales.-United Press,
NEW YORK METAL FUTURES
New York, Sept. 12. Prices of metal futures closed today in cents per ib. as follows:
Lend
Sept.
Oct.
TR Sept. Copper Sept.
Oct.
12.37b
10.23b
$2.3
$13.00
$10.00
China Mail Special.
Chicago Grain Prices
Chicago, Sept. 12. Prices per bushel in cents. Whent No. 2, red
-20
14.74b
14.78b
95.zon
Mur
$4,000
May
Spot
10314 Sept. 197) 1994 (L) 1974-1 Doc.
20041
190-
July
Ziric
Oct. Sept
12.40
Oct.
60.00
Corn, No. 2, yellow Spot
-United Prem
Sept.
LONDON
Dec.
London. The tin market was steady July with a turnover of 50 tons. Spet Rye remained unchanged at £744% Sept. and three-month lost
Mar. May
Not
to
£744.
Qata Sept,
Other metals were steady, | NOT.
Spot
buyers salters
Bept.
74434 745
Nov.
$4432 740
Jan.
打
Mat.
300
Barity,
107 1073%
Spot
New York Dour
Dec. 4
14
200 ib, sack
130-100n
$13,600
---United". ProRN
Led Free,
Prices closed today in sterling | Soybeans, No. 2 yellow por long ton us tchowa:
Tin spot
3-month
Copper spot
3-month
Lead im Half Sept.
Doc
zine 1st half sept.
00***
10734.108
May.
B7
4
up in even greater volume in mid-October when ther now models will go mass production. The slump in productions seemed overdue be- cause retail dealer. throughbist. the country reported high hiven- tories which probably meant A temporary rich of price cutting on new but soon to be out-dated models.
unifon In many other lines, negotiators won concessions matching the diíto Wage pattern with and without strikes, Walk- outs at Bendix Aviation Cor- poration in Detroit, Allis Chidi- mere Manufacturing Computy
shipments
4214-436
Baltimore & Ohio .. Bendix Aviation - Cord..... 417 Benguet Cons. 43424 Bethlehem Steel
Settlement house term: October
...
November
December
Oct/Dec.
Jan./Mnr.
Boeing Airplane
July/Bapt.
Apr/June
September October
303-3054 300 General markets, clf basis, ports:
Borden (The) Co.
Burroughs Add Machine
Canadian Pacino I
CANO (J. LY.CO.
November
unquoted Estato cropo thin and thick Oct unquoted.
AMSTERDAM
The market was quiet. Prices closed today in guilderis per kilö-
NETHERLANDS gramme, of September as fol-
EPU DEFICIT
Amsterdam, Sept. 12. The Netherlands had a deficit with the EPU in Augist of. 955;" 200 gulders, the Netherlands, Bulk announces...
Jowe:
No. 1 rubber No. 2 rubber No. 3 rubber No. 1 crepe,
110 nom. 1.02 from.
3.00 mom. 2.13 potti. United Press.
London Stock Market
C. I. T. Financial Corp. Cat. Tracto
Celanese Corp.
Chase Manha
Bank
Chrysler. Motors Colgate-Palmoliye Co. Commercial, Credit Commonwealth Elec Consolidated · Edlich- Continental Oll, of Del. "Cantinental. Bioni
Com ProducİS Crane Co.
Crown Zellerbach Cuban Amor, Sugar, Curtis Wright
Diamond Alkali Dow Chemicals
Dupont de Nemours Eastman Kodak
Iz Paso National Gar Exie Talkroad Family Tinacion Corp. General Electido Geod Foods.
Decoral Motor
Geh. Pub, · LUI affette Bestety Razor to Glidden Co.
Goodrich (HY.) Goodyear The
Of this amount, the Nether- lands will pay 725,800 suilders in dollars on the settlement dale September 13, while an amount of 239,400. guilders will be do
London, Sept. 12.. in Terre Route Indiana, ducted from the credit granted Springfold; Illinois, and tho
Stocks were firm in quiet atendies Chemford to the SPU.. Budd Company, Gary, Indiana.
Moreover, Dutch credit to trading on the London Exotics Beinknas were settled when the con--the PU will be reduced by change today. panies granted the UAW which 3,883,000 gulders,
ས་ ༣ which wil represents their piployees, coft- tracts substantially the same a the auto formule;
Other Contracts
*
Tel.
an . Power. Elgit
be received in dollars on that Delish, Governments led An
International. : Nickel date under the consolidation advancing contingent which in bercadal Paper
with Britain, cluded a number of industrials.hradovile Agreements Frince, Norway and Iceland, ... But oils and foreign bodds
After labet, pyttioments, the generally showed losses.
War Loan 35% per cent jutópeć Dutch claim on the EPU will be Other contracts wire signed 070:710,200 guilders China 10s to £76, and Console 24 per by various unions already were Mil Speciál
cent turned in a gain of seven Goodrich Companý and notch Altcraft.
In the shortage department,
:
steel makers, alreddy were tal-New York Sugar
ing, ortier for the list quarter
of next year much earlier than
|úmail-Decatie users are worried
222
by an extremely tight, supply situation, which threatens to bo- come, worse Republic Steel,
Market
New York, Sept. 12: World. No. 4, sagar futures plans for today closed unchanged to
shillings six pencedustrials Ady
Interest in
Kenziecats: Chupet Kerett Kerem 266. Lockheed Aircraft
Loews IncDET AVAI Lone Star Cement Louteville & Ngahype
Lotion Com
Iron
small, but a good; nuimber, of Mon Development. issues tacked on a few vente in Monsanto Chemical Co. selective buying.
Foreign bonde attracted attention...
onred is much as 11% polls
is
Montgomery Ward-
tools ne
National Cash Heg
National Land
National Dubilier E National MLS
the
ten knulling and" Slaw yorktober
another bright, mode dirk Bevator
Dib Kribidony
4-223 deanwhite, tuzna pró, 1. polte, adter with Males of one with a 10% pence VeAllt | Pació Can 44)
a. 150 millor
mimo Which wouk boot. The contract" enotheity by 1.8 million wou
ntially. Thi mové
Dire deportlist lotë
ase oppper;
iridiatrics, pätiti Ebenbare to ral
London Foreign New York Foreign Somer or ro
Exchange
Exchange
de Cob
Joint yent shöfané or koppër hill bros duped
sworst orisis in
The Homestle No.
futures closed" unchanged "to" 1 point higher with soles of 60 (son tracta
Both ma
and feature eISA
Burmak
Gold, Mind closed p
and coppos
ézáed on the
dülot
Exe
Owen Ellipoli
Profilo Western,
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards "CANTON"
"CARTHAGE” "OHUSAN"
CORFI"
Leave Lomdasan.
Balled
Due Hongkank
19th September
14th September 17th October :
30th September 19th October tal
14th November - 12th October,
Via Boutfiampton, Port Sxiä, Ádan, Hámháy,' COLOMBI,
Penang à Singapore -- Leaves Hongkong 'Due Lazdon
24th October 23rd September
Homewards "CANTON”*•
"CARTHAGE" 1st October 21st November :
"CHUSAN" "CORFU"
29th November 2nd November 18th November 12th December
Via Singapore, Panas, Colombe, Bombay, Adan, Port said & London * Also
calls at 'Majis.
SURAT"
FREIGHT SERVICE
tonds 280 hept. for S'pore, P. Bwetten,
ham, Penang. Colombo, Adek, Port Said, Gebom. Marseilles, Havre, Lone don, Antwerp, Rotter da de Marburg -"SHILLONG" due 27th Sept. from UK. via Straits
soade 28th Sepi..for Japan
N..
Wien Überty to call XX.Balawan before or after Bizalta Forts and at Bombay it inducement offers. Tanks available for carriage of Oll in Butk Space for refrigerated cargo: Elinites Passenge
socommodation
BRITISH INDIA S.N. CO., LTD..
from Japan
"SANTHIA"
In Port
salis flla Sept. for Singapore, Penang
Rangoon & Calcutts froat Calcutta via Han goon & tračts
"SIRDHANA" in Port.
FULTALA
its 14th Sept. for Japan dus Tih Det.
from Japari
Falls Si Oct. for Bingapore, Hangoon
·
P. & 0./B. I. JOINT SERVICE "TTOLA"
"ORMARA".
'"ORDIA"
"ORNA"
La Fort
salle 13th Sept.
due 13th Seat sulle 19th Sept.
from Japan
for Singapore, Madras, Dhanagar
Karachi, Bawah. Abadan.. Khor- rumanahr di Kuwait from tápan
for B'pore, BOMBAY, Karachi, Basrah, Kho rainstar & Kuwait dum zard Sept. From Katachi & Bombay salla 24th Sept. for Japan to
due
lat Oct. from Kerschi & Bombay vallà 2nd Oct. for Japah
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE”
· FARAFURA”.
2. T
ans in Oct. from Australia lords th Ort for Japán Loads / Oct, for Sandalcin, Brisban
Bydowy Melbourne Adelaide
All vessels have liberty to onii si any ports ou or off the roule & the route & mailing are subject *to.chaare or amendment with or without, notice.
LABAMA
for Fall perlhulers apply t MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos 27721-4.
MESSAGERIES
MARITIMES
PO. BOX 13. & Queen WA BULLT ZANIK
- FAST_PASSENGER/FREIGHT SERVICE
"VIETNAMO
CAMBODGER
Balling Ook 8th -Bailing. Nov. 5th
were
unch
The Rhodesians
of co