THE CHINA MAIL,
J
TUESDAY, SEPTEMBER 20, 1955.
庐
TRADE and
COMMERCE
BIG LOSSES ON NEW YORK New
WORLD COTTON
WATERFRONT
MARKETS Copper And Aluminium
New York, Sept. 19. | Liquidation in nearby
October
paced a sharply
lower and moderately active
cotton market today.
The liquidation in October, prior to the first. notice day next Monday,
light, but
persistent
Was
throughtout
the
session but picked up con- aldersbly before the close.
At the close, the list ruled
to 25 points lower. The market
opened 5 points lower to
higher.
New Orleans
5
futures
Anished 9 to 24 points lower,
A leading spot firm reported
the California colton стор
continues to make good pru gress under abnormal tempera- fures, and that heavy
shedding
in Arizona has diminished with a good top In
crop the
making.
The firm safd mill demand for spot cotton in the Atlanta aren was excellent in the early purt of last week but as futures de- elined inquiries slackened, the decline in futures also created more cautions mill buying of apot cotton in the Memphis area, the Arm added.
Trading volume and open in- terest in the Exchange today were:
Volume
30,000
13,600
Diverted From
Stockpile To Industry
the
By JOHN MORKA
New York, Sept. 19.
Czech-Ceylon Direct Trade
Wanted
Colombo, Sept. 19. Czechoslovakia is înfereSË- ed in trading directly with Ceylon following negoils- tions with n`Ceylon trade
niesion
which visited recently, rellable Еигоре sources said today.
The Tron Curtain country has been making
frequent inquiries for several com- modities, particularly crapé rubber and cocontit pro- ducts, and wilt Boon send a irade mission here, the sourets sald.—United Press.
The New York dock strike stalemate was estimated to HONGKONG
have cost the international shipping industry $1,000,000 daily during the past two weeks, came to an end this last week to remove the only dark spot in the bright US business picture.
Cargo had piled up on the docks during the walkout- exclusive of perishable which had to be dumped-was estimated at 200 million, indicating busy waterfront weeks ahead.
the
Cargo casualties, according to iger schedules during the walk- Ford and Mercury Lines, which Commerce and Industry out by using office employees observers believe will be from Association of New York, in to handle
passenger luggunge; 5 to 10 per cent higher in cluded a load of goods of # and most ships started their this year's models. Since
ot-return voyages Belgian ship which became rot- Open Interest
with their in- other major manufacturers have ten and useless when the ship coming cargoes intact, in their set their pricz announcements was forced to return
hulls and their scheduled to Ant-
out later, Ford seems nominated to have do here, going
be be the bell-weather cargoes werp without unloading
price Also
lost
increases. 30,000-case remained in pier warehouses. 4
117,200 727,000
343,700
440,500
Month
Oct.
Dee.
Mor
20,000
May Justy
24,000
11200
205.600
Was
Oct.
Dec
2.400 2,200
Total
139,300 31,800
700
· cargo of bananas.
201.000 2,098,400 bales
NEW YORK
тем
The strike did make itself felt in the copper fabrication ir- dustry where users avere įported to have paid as much as because Prices of futures closed today eight cents per pound
inability to unload foreign ship- ments contributed to the already serious shortage of the metal.
European shipping lines man- aged to maintain their passen-
* follows:
Spot
October
December
March
May
October
March
July
December
NEW ORLEANS
33,4011 32,37 32.78
32,61
32.42
32,28-30
32.14-15
32-04-05
31.68
Prices of futures closed today
L
as follows:
May
Oct.
Dec,
Mar.
SAO PAULO
4
33.30 32.53-51 32 CO-3
12.73
12.20
32,73 32.01
31.52
Future closings, in pence per 1. American middling,
as follows;
Oct.
Dec,
Mar
May
July
1
In
were
31.20
23.45
34:40
32.06
33.DA
the United States the average price of 15/18 middling cotton nt 14 designated spot markets was 32.73 cents. Sales at these centres totalled 58,048 bales.
'
Liverpool prices were available.-United Press.
Singapore
WORLD RUBBER MARKETS
Singapore, Sept. 10. The rubber market ruled steady and quiet with minor fluctuations. Futures were:
No. 1 rubber per th
October
November
December
on
•
Booming
Television sot price boostsi averaging about $20 per sot, -Elsewhere on the donnustic US were blamed by the manufac
on rising costs of front business was economle
materials. Allen B. Du Pont booming in a traditional autumn laboratories hiked most models resurgence made remarkable by $20, Motorla Institute advances the fact that summer had been of $10 to $330 per eet, and good too.
Emerson Radio and Admiral Corporation announced. $10 10 $200 boosts on their sets.
The only shadow was the constantly recurring fear of in- fintion, a fear which caused the government last week to warn saving on borrowed money. Hereafter, the 4,200 institutions
Shortages
Contributing to the television
involved in the order, must picture were the shortages and have loans from 'savings and premium costs of copper und loan
instead repayments
of aluminium used in their manu-
facture. borrowing from the eleven re- gional home loan banks.
That there were waye around a long-term government moves to make money harder to bor row. however, it was illustrated
of
The price of two metals brought government action this week. Eleven thousand tons of copper, the entire amount car- marked for the National stock
the fourth quarter pile during
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock
this Exchange morning amounted to $400,000. Noon quotations and the morn- ing's transactions:
BHANES DUYERS SELLERS SALES
BANKS
HK Bank
INSURANCES
Union Loinbird
DOChart
..
ETC. X Bonus.. Dock
Provident (010) Wheelock
LAND, ETC.
HK Hotel IIK Land
1725 1740
·
SECTION
Market
York Stock New York Sugar Market
New York, Sept. 19.
Profit taking in the closing hour of dealings pared gains in industriál stocks to a few cents and cut prices for rails more than a point on average. Early strength in industrials waned as Wall Street became more preoccupied with hurricane threats and men in the trading element took off for homes in the suburbs to prepare for the big blow.
Industrials,
points
up more than ; Southern Railway (Com.) average on
at their Standard Brande
Standard Oli of Cal. highs, held only 0.13 of the Handard Ol of Ind. gain but it was enough to put Standard Öll of NJ, them in new all-time high Sterling Drug Co
Stokely-Van Cond. ground. Ralls, lagged all day. Studebaker-Packard closeil off 7.12 while dipped 0.20,
utilities Swift & Co.
Техав Со
Trading lightened to 2,390,000 Tide Wator Assn. Di
2,540,000 on Frl- Union Carbide
New York, Sept. 10. World No. 4 Bullar futures closed today unchanged to one point higher with sales of eight' contracts.
Domestic No. 8 sugar futures closed unchanged to 2 points higher
with no sales reported. World futures were quie! with contracts. the issuance of 110 Futures:
Contras No. 4 (world) October
May
September
01 November
Spot cents per lb. cf NY
ex-duty)
8.50
United Press.
Exchange Rates
07
4013
Spot (cents per la, fob Cuba)
Contract No. 8°
800
March
1401% May
04
10
Corp.
10
50
111
-31
116
1024
8144
310
2214
unofficial
474%
morning at the following rates:-
U.S. sellar (par, #1)
8.77
sof Sterling notes (per 21)
18.43
201
Australian notes (per
1)
12,00
402
Slam cols (per 100)
Indonesian rupiah (per 100) ..
10.40
2120
DUC
Singapore (Stratter)
1,80
United Press,
Indo-China plastres (per. 100)
Pactiio Railway
United Aircraft
U.S. Gypan
shares from
day.
Of a total 1,189 issues appear
img
on the tape, 510
were
US. fubber
lower, 440 higher.
Good Gains
A handful of industrials held good gains despite the general casing. Among those fasuca
Lied in
2
the averages, motors were good with General Motors up points and Chrysler nearly
point higher. Telephone rose
a
'American
a point; Du Pont and Eastman Kodak dimost that much.
National Steel fell more than une but Bethlehem and US Steel Improved fractionally.. Allied Chemicals, Scars Roc- buck, Standard Oil of California rose around $1.
Tobaccos were
better
the among
American performers. gained nearly a point, helping average, Philip Morris and Liggett & Meyers each added 10 1733 more than one.
the
Low-priced ACG-Brill Motors, 1000 56 or 1000 Rhodesian Selection Trust, Ben- 53
guet Consolidated Mining and Childs were the day's most ac- five issues.
73 70
... 28% 28.80 500 € 28.70
le 16.30
0.65 10 2000 0.00
+
101⁄2 18.80 1000 18,00
X Al....
84 0411⁄2- 300 e 641% Humphreys 20.30 20.60
..(N)... 13.00
RUBBER
2.40 2.25
A. Rubber Trust ...... 3.2315
UTILITIES
|
New
York Stock Exchange bond volume was $8,630,000,
American Stock Exchange volume was 780,000 shares.
Dow Jones closing averages
Wero:
30 industrials 20 rails:
15 s
03 stocks.****
US. Line Co.
U.S. Smeling
U.9. Steel
Warner Bron, Westinghouse Electric
West Va. Pulp & Paper Woolworth
Business was done in the local exchange market this
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Oalwarda "CANTON"
"CARTHAGE"
"CHIUSAN" "CORFU"
Leaves Lonđón Dae Hongkong Spiled
In Fort 17th October 25th October
30th September 12th October .
14th November
Via Southampton, Port Said, Kden, Bombay, Colombo,
Penang & Hingapore
Leaves Hongkong Due London
23rd September 24th October
"CARTHAGE" 31st October . 21st November
Domewards "CANTON"
483.00
103.17
05.51
173.00
"CHUSAN" "CORFU"
Comm. future price index., 154.50
Closing Prices
100.6 24.00 Alden Inc. Acy.
Tram... 2440 24.70 Stor Ferry 143 143 Y'matt Ferry 147 110 200 (#
100
118
C. Light (0) 23.40 23.60 500 e 23,63 C. Light IN) 18.20 16.80 Electric
13 Mocan Elec. 199012 Talphone) 2014 M35 2500 E 364%
INDUSTRIALS
Cerhent
500 * 17.20
to
3:055
1000 @ 30.50
Rope
17.0
STORES, ETC.
Dairy Watson
22.80
14.0
Crawford
by the manoeuvre of the Hamil- of this year, was diverted ton Tailoring Company Cincinati. Needing cash to buy Private Industry, following
similar diversion of 10,000 tons out three competing firms, the Im
the third quarter. Also company, which does an annual diverted was
of 75,000 tone business of 7 million, borrow-aluminium, unquoted
following
a third from Its 550 cm-quarter ed $100,000
diversion of 100,000.
14147
148-140
No. 2 rubber per ih. Oct. 1IJEME No. 3 rubber per ib. Oct. 139-140 No. 4 rubber per lb. Get, 132-133 Spat rubber unbaled ... 147-1473%
tanket crepe
No. 1 pale crepe
110-112 147-140
NEW YORK Futures today closed 20 to 50 points higher with sales of 334 contracts.
much scent a pound early
Meanwhile, nuto industry
|
ployees in a series of 3 per tone. cant debentures. Payroll deduc- tion to pay for the debenture leaders felt that, despite price was underwritten by the CIO Amalgamated Clothing Workers
increases, 1956 would see motor sales at a level surpassed only to which most of the employees by this year's record business, belong.
Although observers had <X- Less startling was the arrival pected the volume of 1055 sales Future contracts were off as of the first of a series of price to have a striking effect on 1956 goods Prospects, nuto executives pre- increases on consumer
dicted next year would totall been freely pre- Automobiles and tele-between six and seven million This year, still incom- grant increases and a guaranteed plete.
United of between wage provision to the Auto Workers in recent contract units. negotiation, announced in- Bargains were still to be had, creases of $10.00 to $248.90 on however, by those only two of five Lincoln models for 1956 which were in the 1955 line.
vision sets were the first to units. Is estimated at a record
in the day but heavy buying in which had the session boosled prices dicted. not sharply with most of the closing on a higher level than earlier in the day.
Stock Market
Singapore, Sept. 20,
Brokers today quoted the fol- lowing stock prices:
40/31
Future closings were!
Dep.
Mar.
May
July
Sept.
LONDON
48.20 18.20 45.20 44.20 43.75
The market was easy with spot quoted at 43 pence per lb. Prices;
Estate.creps thick Oct.
Later this month, Ford announce 1050 prices
72 and 76 million
COTTONS
Textiles... 3.00 3.90 MISCELLANEOUS
Yangtze
Aised
6 4.20
5.90
1000 22.90
1
Chicago Grain
Market
Chicago, Sept. 19.
Profit-taking by short cover
Allied Chemicals Allis Chalmers American Airline
American Cyanamide Co. Ani. Mach. & F dry. American Motal .. American Emolting Am. Sugar Ref..... American Tel & Tei American Tob. "B Anaconda Copper Armeo Steet Armour
Baldwin-Lima-fam., Baltimore & Ohio
Bendix Aviation Corp. Benguet Cons
Bethlehem Steel
Boeing Airplane
Borden (The) Co.
Huurroughs Add Machine Canadian Pacific R.
Case (J. 3,
Co.
C. I. T. Financial Corp.
Cat. Tractor
Celanese Corp. Chase Manhat. Bank Chile Copper Chrysler Motors Colgate-Palmolive Co. Commercial Credit Commonwealth Elec, Consolidated, Edison Continental Oil of Del. Conunental Steel
Corn Products
|
Crane Co.
Crown Zellerbael:
Cuban Amer, Sugar
Curtis Wright Diamond Aikal
Dupont de Nemours Eastman Kodak
ing helped to check an early decline in grain futures on the who were Board of Trade today and push- atiafled with a new 1855 model.ed most prices above the pre-Dow Chemicals
the nation |vious close, Dealer throughout were paring their profits in Wheat futures weakened, how- order to clear their showroomever, after traders received word will to make way for the 1956 of light to heavy rainfall in the on the models. Those who wait for southwest during the weekend.
such a thrifty method of ac- Wheat closed off to up %; quiring a new model, however. soybeans (now) up to 2%
London Stock
Market
London, Sept. 19. Most sections lost ground In dull trading on the London Exchange today.
Batu Lintang Rubber Co.
Ltd.
Opening
$1.07
No. 1 Ra spot ......... Settlement house term:
Oct.
42%-431%
423-4314
British Borneo
Petroleum
Nov.
4235-4234
Syndicate
Consolidated Tin Smelters
Jan./Mar.
Ord.
20/
Dec.
Apr Juna
42-42%
Fraser & Neave Ltd C
Ord,
$1,80
July/Sept.
Fraser & Neuve Ltd. Tiki
cum. prof...........
$8.40
Hongkong & Shanghai Bank-
ins Corp.
1020
General markeis, elf bosia,
Bep!. pt, Nov.
Hongkong Tin Lad,
7/04
Kempas Ltd.......
$1.82.
Lunas Rubber Estates Ltd. 2.40
Malayan Browerlew
$3.55
New Serandah Rubber Co.
Ltd.
$1.07
Petaling Tin Ltd.
$1.60
Raffles Hotel
12.19
Singapore Cala Storage
$1.75
South British Insurance Co
No. 1 rubber
Lia
22.00
No. 2 rubber
Gill-edge
Straits Trading
$24.75
No. 3 rubber
Siraila Stommihip
$13.40
No. 1 crepe
410 nom.
United Engineers Ord.
$11,00
United Press.
the session.
Wearo Bros.
$2.92
* ed.-China Mail Special.
London Foreign
Exchange
AMSTERDAM
The market was quiet. Prices closed today in guilders kilogramunt, Oct, as follows:
4.07. nom. 4.04 nom,
LONDON METAL
PRICES
Buyers in general seomed restrained 'by-money ́ralo fears and the prospect of new, big stuck Issues coming оп the market.
seemed few and far between cents.
on the American scene.
Despite the elaborate produc- blon plans of the auto industry.
CLOSING PRICES
the shortage of steel continued when No. 2, rea
to plogue industry, with a fur- ther Increase demand from averseas complicating the pic+ The Wall Street Journal quoted industry sources that the was particu- larly active in ecoking siert tonnages from American mills.;
ture. United Kingdom
F
Ford Stock
Prices per bushel in ceste:
1960
Mary
Spot Bept. 100% (11) 1078(L) 2004-4 Dec. Mar.
20314-4 20045-35
JURY
187
Coru, No. 2, yellow
Spot Bept.
Dec.
Moi.
May
July
to Ryo
Sept.
Osta
Nov.
Sept.
Nov.
The shape of one thing come in the automoblie ploture securities and in- was seen in the annotincement of US Steel Corporation Ameri-
Spot Sept, Now.
Jon.
Mar
May
Barley Spot
New York flour
200 1b, mick
El Paso National Gas Erie Railroad Family Finance Corp.
General Electric General Foods General Motory Gen. Pub. Ul.
Cilletto Safety Razor Glidden Co Goodrich (B. F.) Co. Goodyear Tire. Heyden Chemical Homalaka Mining Os, Ingersoft-Hand Inland Steel Co
Interchentical
Int1 Business Machines Int'l Harvester
International Nickel
International Paper
Int'l Tel & TE
John-Manville Co.
Kansas C. Power & Light Kennecott Copper
Liggett Moyers Tob., Co. Lockheed Aircraft, Loews Incorp..... Lone Star Cement Co. Louisville & Nashville R. G Lowenstein “Bone' Atosabi Aron Corp. Minnesota Mining Minion Development Monsanto Chemical Co. Montgomery Ward Motorola Inc. National Casti Reg. “A' National Fairy Prod, National Distillern 2-220 National Lead
Natiori Steel Corp. New York Central Olin Mathieson 100-1400 vatora
Owet-Illinois Gla $13.60m
Pacific Gas & Elec. Pacific Western Ont Pan Americani Altways Parkmanni Pictures - 21 Parke Davis Co.
ted Prem.
398 Horn.dustrials fell back throughout Steel and Wire division that
Consol 24 and it had developed a high fonsile, Boybeans, No, 2, yellow lost £3/8, and 4's both
War
specially stranded wire Tein- skidded foreing cord which Loon 3 par cont
will' per- £ to £75%.
m making of a blow-otik- Industrials showed declines proof tyre. The new tyre, the company claims, is good for up to one shilling threepence, 300,000 miles, meaning it will
the big losses were outlast the vehicle, pra à Courtaulds, Associated Electric, 000 mile Cave is wears might London, Sept. 19. The fin market was frm this Rolls-Royce, and Ford Motors Meanwhile, imvortiment turtlen afternoon with both spot, and Among the store shares, Wool-were awaiting the inminent three-month marked up 3% worths Tost is 1 and Marks first public offering of the Ford points to £764% and £1554. and Spencers dropped ad to 878 Foundation's 2,009,000 of NEW YORK METAL P
The zine and lead markéta | Dd.
The Ford Motor 60. were steady while capper was 2/09/16-3.7845
Olls were erratic, but rallied stock. It was reported that the uncertain. Prices closet teddy bit near the close. Royal
Belongi
discussed Foundation's sterling per long ton as follows: Dutch sell 12 66, while British plan to diversity is investments Petroleum and Burmans also would be begun by the offering betalased Tower, Gold shares wore duning November all or part of torty
itay Ford-holdings. © The plani dull, and coppers mostly quiet, which will be carried out by
Foreign bands were marked by 10145 Loss up to 23 among Japanese mumber of museli investimer
and Clerinant Eaton, but Grense veranderingen Bonda jumpled bhosd £% to £1. maila: 30 meneti
United Press.
1959/50-a76 6/18
London, Sept. 19. Foreign exchange rates today closed as follows:" New York Montreal Atebenden Bruckm
Copenhagen
Latide
10A0-10.6014 130,10-220.36).
11.70-1.7014 800-80.10
To spot
3-month
Copper apot
3-month
·
1
75018
Lead and half Br01 102
New York, foreden exotéingezine thd Half Bept.
Undled
not
avellable
1099207
United Prew.
Morch
Petroleum
FUTURESolar Cumple co
How dock, Sept. 18.
Pillburgir Plate Diane Publicker Inchiatrien -
of metal futures cloud Pure Di center it, as toxtowe Corporation
14579505 Motora
outPorta Flow se
70%
409
+
2nd November 29th November 1814 November '10th December
Via Singaphte, Penang, Colombe, Bombay, Adon, Port Bald & Lendon
Also calls at Malta.
"SURAT"
FREIGHT SERVICE
toads 25th Sept. for S'pore, P. Swetten->
ham, Penang, Colombo, Aden, Port Bald, Genoa Marsellies. Havre. Lon- don, Antwerp, Rotter- dam & Hamburg from UK. via Straits alls 1st Oct. for Japan
"SHILLONG" due 30th Sept.
With liberty to call at Belawan before me after Atralia Parts and at Dombay if inducement offers. Tanks available for carriage of Oll in Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
“SIRDHANA" dos 4th Oct. from Japan
Bail Bth Oct.
5th Oct.
6th Oct.
"SANGOLA" due
sals
"FÜLTALA" dné jih Oct. sails 8th Oct.
[
for Singaporo, Penang Rangoon & Calcutta From Calcutta, Penang & Stratta for Japan from Japan
for Singapore, Bangosa & Chittagong
P. & O./B. I. JOINT SERVICE
"ORMAKA"
"ORDIA"
"ORNA"
due 20th Sept. from Japan
·walls 21st Sept. for S'pore, BOMBAY,
Karachi, Borah. Khar ramaholic & Kuwait dus 25th Sept, from Karachi & Bombay ants 20th Sept. for Japan due pih Oct. alls th Oct.
40
from Karachy & Bombay for Japan
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE"
"ARAFURA”› Jodds B/0th Oct, for Bandakan, Brisbane,
Sydney, Melboume Adelaide
3rd Oct. trom Australia loads 4th Ort. tor Japan
24
All vessels have liberty to call at any ports on or off the route & the route är saliing are subject to change or amendment with or without notice.
For full particulars apply to -- MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.
MESSAGERIES
MARITIMES
YOMBO% 53:37 Queeny Budilday # Tol: 2480) ELEKTAST PASSENGER/FREIGHT SERVICE BU
"CAMBODGEN. "LAOS"
sailing: Oct. 8th.
Balling Nov. 6th sailing. Déé. Brá
"iling Bept: 26%41) King: Det.' 17th: