THE CHINA MAIL,
WEDNESDAY, OCTOBER 19, 1955.
·Page 9
TRADE ·and
COMMERCE
SECTION
US Vehicle WARNING TO RUBBER GROWERS CZECH GOODS
Controls
Prospects Are Dim
New York, Oct. 18. Prospects were dim for any relaxation by the US of! present controls on ship- iments of certain categories | of vehicles and automotive parts to the Soviet bloc, ac- cording to a Department of Commerce oficial.
Addressing a meeting of the ! Overseas Automotive Club Mr John C. Bolton. Dirvetor of the y
of Department's office
export
$11.
supply, uke! instru American auto manufacturers divert their sales efforts to me profitable machets
Despite the very strong +10- mend throughout Eastern Bumper for automotive Its unt military-typus
fort vehicles, the US
*
Pricing
Themselves
Out Of World Market
Says Top Executive
Natural rubber
Boston, Oct. 18. growers appear to be pricing themselves out of the rubber market, according to a top US rubber executive,
Addressing the Boston conference on distribution, Mr W. S. Richardson, President of the B. F. Goodrich Co., said that while man-made rubber production will continue to rise, "there never need be a complete changeover to synthetic rubber in the US."
+1
ཧཱུྃ་ -
erude rubber can be produced at under move quickly to insure miderably lower cost than any to be in the supply beling adequate pacently known man-made rub- Government was not kry aprov; expet i cences for these and the price of the product com- lets." entegories since they are con- jeclive with man-made rubber.
he there will always sidered skroligie muderade,
their product," he said Rutch.
Governmen The 19
would probably approve shipments of
ear girls, has added passenger bad thr nachet for 18 produer
artalet vehicles
and
"exceedingly limited."
The
19713
ONLY AREA
only area, according to j
kelihood
Mr Bolton, where there uny
ཟ]]
market
C
This situation encourages the being mor whel INI
synthetic rubber plents through these grower fail to do but the world, he said. he warne, the price oli
The trend is charly and do- crude rubber will decline with i
dicetim of in- production finitely in Dis synthetic PAT PANE
me-made rubber falls to an incronomicze 2
No Relationship
n this country and throughout the world." he asserted.
|
Woh production of synthetic rubber will have to increase by Weak price for evude rubber, Fabout 50 per cent, in the next
that Be A is To take care of the: of developing he ana sted, were at evels miles to Eastern Europe ts ນ da ti relats aship to the cost expected rbe in demand, Mej
hve rubber and, .ciu kom devtared * }ELH W$f1⌘ they present opportunities for
paration
passenger cars assembled aberr from US-produred parts. How ever, in such cases he explained. speelfe authorisation
mis!
given by the Bureau of Parigh Commerer to the parent cost- pany.
One of the rousons why 1 US Government intens mulntain export controls over
is automotive supplies
that
many
the American-type | parts such as ring gears, pinions, transmission gears, uxles
both World War I and present- day vehicles can be used on the trucks and sume of the passen- ger cars being made in Russla today.
He said that there are now
Cruic
Lo rubber
The fullure of crude rubber
must continuo to be made by increased production of made rubbers," he sildc
WORLD
COTTON MARKETS
Now York, Oct. 18. Cotton futuros today edged upward irregularly after a hesitant start, scor- ing a gain of $2.40 à bale, before the market levelled]
FOR BURMA
Vienna, Oct. 18. Czechoslovakia wilt do- liver goods worth 87 million Catch crowns (U883.7 mil. ilon) to Burma, the Czech Communist Party's news. paper Rude Prave report. ed yesterday.
The goods to be dollyer. ed to ·Burma include tractors, motor cycles, tex- tiles, shoes and boor, the Newspaper guid, --- United Press,
NEW ZEALAND BUDGET
Modest Gesture To Taxpayer
Auckland, Oct. 18.
Although not 80 bold as Australia's flat rejection of any tax concession in the context of overfull employment, New Zealand's Budget estimates for the current year reflect only a modest gesture to the taxpayer, and an attempt to keep government expenditure in check, says
off a little under realising HONGKONG The Australian, New Zealand Bank Survey.
and some hedge selling.
Closing about 70 cents a bite under the highn, the list finished net four points lower to 30 I points higher. Opening prices were up 2 to off 10 points, New Orleans closed up 6 to 27 points.
New Orleans Interests, com- mission houses and Liverpool brokers were buyers on balanco
the early
1950 deliveries, up-in man-while the Deo. delivery lagged under the weight of realising by recent buyers and hedge offerings. He estimated that world con-
Buying in the later positions sumption of all kinds of rubber 'Ti 1950 will be 2,800,000
supposed to be against tons, and wil exceed 3,000,000 | straddle positions with the Liver- long tons by 1960.
pool market, plus investment buying attracted by the markets lacount under the government, Joon basis and reports of heavier producer impoundings under the loan.
<rt
long
crude
Total
production
was about 185-1 tuber
The supply 1,800,000 g ns,
rubber for the of world en ude
xt five years will execed only slightly that figure on a year-to- year basis, he said.
Output
The United States can
SUM
Some buying in Dec. and Mar. In the forenoon whe coupled with shipper covering against Korean purchases of 10,000 ba‡oл on their original inquiry ulters on 30,000 bajes.
The government weekly crop
STOCK
The pressure of consumer demand may be increased by the chief tax concession, a 20% rebate (worth up to £NZ75 per taxpayer) on individuals' income tax, but lessened in
some
EXCHANGE degree by the imposition of restrictions upon
(From Our Correspondent) Business done on the Hong kong Stock Exchange morning amounted to $030,000. Noon
quofalions Anci the morning's transactions:
this
SHARES BUYERS BELLERS SALES BANKS
12 64 1000
Bak LORS
INSURANCE
Union
Lombard
DOCKS, ETC K Wharf
Wheclock
Dark
140 043
37
10 HO
BOT 940
7~212 201
hire-purchase terms which require a deposit of 50% and repayment within 18 months for motor vehicles and a deposit of 15% and repayment within 24 months for other goods.
ale
allowances in Australia.
033 500 9.30 receipts from taxation and social
security charge
£NZ210 million last year, and the cur-
20
1400 18
$ 37 B00 10,00
of
3006634 year's estimates of £NZ223
million
Despite the new rebate (cost- ing some £NZ7.5 million). in come tax is expected to yield LN290.7 100 the record figure of 100million and receipts from the 2.00 Social Security charge of la. 6d. in the £ on all incomes are es¬ 24.20 timated at £NZ60 million. 142
Special depreciation allow the estimates for housing con- ances for commercial buildings struction (£NZ10 million), land are discontinued, as it is con- settlement (ENZO,8 million) ndered Inappropriate to alimul- and railways (£NZL4 million). oppital expenditure on A major exception is electri- buildings at present the reason city development works, which given by the Australian Trent NZ10 million, are above surer for not Increasing
these last year's estimate and nearly
£NZ3 million above last year Taxation concessions this expenditure, Even at this high. year, valued at £NZ8.8 million rate, supply le barely keeping may be compared with actual pace with rising demands.
The Government's total capital of 2N274 million programma Includes £NZ10.7 million to bo be This will spent on roads. financed from Roads Board re- ocipta from petrol tax and its other revenue, with some as- stanco from the Consolidated Fund.
the The remainder of works will be financed to the extent of £NZ18.9 million from current revenues, and £NZ6.R million from the previous your's budget surplus.
Incroused National Sayings and Post Office Savings Bank
for
LAND, ETC
H.K. Hotel 170 H.K. Lond 83
(R) 737 Humphreys (N) 10% Resity
RUBNER
A. Rubber..
Truel
190 193 17,300 †
33,300 2,00
3 23
24
130
100
You Ferry
X.D.
112 115
300 * 22.60
t; it to the price of man- supples to rated the total world produce more than 1,000,000 og rummary sad opening of holis
although ende avinanal . being made up-andons of man-made
rubber,
New York
Stock
Market
New York, Oct. 18.
rubber, and Those facilities must he EX- panded, he said.
Mr Richardson observed that
without America's "know-how and facilities for making rubber, the world would be short about 1.000.000 tons in quantity.
Stocks moved higher on the New York Stock cents." United Press.
Exchange today under the leadership of aircrafts
theusands of American trucks of and railroad shares. World War II vintage still
use by the Eastern Soviet toe active.
and the Communist Chinese, į
Their useful ife could be "im- '
mensurably creased by ; ethan quale supplies of replacement
parts from this Uute States
he said.United Press.
London Stock
Market
London, Oct. 18.
The London stock
Trading
was
moderately
Gains in the aircrafts and rails ranged to more
Autos also met demand.
! point.
shares and oils moved irregularly.
After the fin opening. The Coneoliated Echison market turned somewhat irre-Continental Out of Del.
Continental Steel
gular. However, shortly par Car Products mid-session, some buying power Crown Zellerbach developed Ers selected Lasues Cuba Anier Stigar
Curka Wright which helped other departmen». | Damond Alkali
Dow Chendoula Dupent de NemOUTH Eastanan Kedak
Newsprint stucks turned higher in news of a price hike as National Cas in their product. Rronds met Erte Railroad
when: mar-demand
the Intersta eFamily Finance Corp.
Geral Mect:le Commerce Commission extended Central Foods kets had a nice orderly day, indefinitely a freight rate indieneral Motors almost as though they had greases that was to expire at the Don. Pub. Uti stepped out of a textbook, year-end.
and Buyers through their brokers (plus the dealers) and accomplish-day, but it amounted to very
sellers
met
Volume
Get Safety Razor Gikten Co
F CO. Goodrich ( increased somewhat Gandyene Tire
Heyden Chemical Ingersoll-Hand Taland Steel Co.
Sales totalled 1,550,000 ed their ends without aeri abares, compared with 1,480,000
shurts yesterday. mony.
In Businers Machlies Interventer International Nickel
Of the 1.12 issues traded. 050ternational Paper British Government
stocks i opened rather
mestly moved higher, 318 closed lower int'l Tel & Tel weak,
New Jou Manville Co. down one-eighth or thereabouts and 237 held unchanged.
we're registered by 10 but rulet
which highs louying
slocks and 15 made new lows. persisted all day cosed rises
Wor North American Aviation was with of at the close
the bright spot in the aircraft Lonn up %.
It rose 131 group.
point:
Investment buying of en- $63%. gineering and electrical shares coused moderate appreciation.
Kennecolt Copper
legett Meyers Tob, Co. Lockheed Aircraft Loews Tucorp.
Steel
and harvesting were
favoured
Tram
by mostly fair, sunny weather UTILITIES in the main cotton belt, except for showers on about one day
in the middle portion, especially
In Tennessee.
Trading volume and open in- terest in the Exchange today
Star Ferry
C Light (0) 23,70
100 22.80 200 or 22.80 Electric 412 4132 2300 19 41
17.00 C. Light (N) Macan Electrle 11:00 12 Tetopheno
345 34
CURRENT EXPENDITURE Customs receipts are shown at last year's level, although at balances are expected to provide the present rate of imports a £NZ19,3 million bni depart- higher figure seems justlled. A mental investments and use of decline in TOVERUC totalling
ing a loan arranged with the United ENZ2.5
is anticipated States Export-Import Banke two million, in only two categorica. The years ago, cash £NZ4 million. are sales tax, due largely to The remainder in to be raised the exemption from tax of 4 by a public lan to be offered 30 500 number of items, and stampater in the year in the light of 3003 and death duties, due to sub-warles mores and the state of
stantial reductions In death, the loan market.
18 at 24
2009
200 69 34.15
were:
"And the price wo would be
rubber," plying for treo edded. "would be stated dollars per pound rather than
he
Month
in
Det
Volume Open interest
4.400
Dee.
51,000
070,700
INDUSTRIALS
Mnr.
20.200
370 900
Coment
17
May
37,500
523.100
July
10,800 207,300
Oct.
11,700
Dec.
2,000 01,700
Mar
4.400
123,100 8,700
STORES, ETC.
Dairy ..... 19.00
20 1800 or 20
1100 10.00
WORLD
Total
151,000 1,970,000
NEW YORK
as follows:
Spot
Def.
RUBBER
Prices of futures closed today
Mar.
PRICES
MAY
July
4:14
Oct.
33
Deo,
20%
Singapore, Oct. 18.
Mur.
1024
The
rubber market was
214
steadier оп belter
overseas
advices and good demand for
213 lower graries. Sellers were re- thr close.
34.0011
34.76
32.03-00
31.60-02
30:50
30.47
20,30
30.18
NEW ORLEANS
Prices of futures closed today
#s follows:
70%
served Futures,
towards
Spot
21
Dec.
Mar.
મ
No.
1 rubber per 1b.
77
Nov.
123-1231 1274-122
Mav
12
Dec
Gel.
Jan.
unqueted
No
rubber per 15,
17
Nov.
U
14. 3 lubber per lb.
471.
Nov.
121-123 11915-120
Bre. Mat.
17
No. 4
rubber per lb
36
Nov.
R2
Spot rubber unbaled
50%
Blanket crepe
305
3014
道
109
2717
02E1
No. 1 pale crepe
NEW YORK
33,30
39 70.05
32.10-10
34.0
30.54
30 33
30.24
34.30-56
LIVERPOOL
Future
American 113-114
closings, 12015-124% | middling, in pence per lb. were 102-104 139-1841 an follows:
103 Futures today closed 100 to 1200 points higher with sales of 405 407 contracts.
20
to
Lone Star Cement Co Louisville & Nashville R. Lowenstein & Sons.
#1
23
Mounbi Iron Corp. Minnesota Mining Mixion Development
In the motors, General Motors Monsanto Chemical Co.
Rolls-Royce gained is 9d. Uni- stood out with an improvement, lever is 3d and others around of 1 points to $133. one shilling.
In the mixed oil group, Texas Company and Standard Ou Co. Oilfields (NJ) TUSC nyare Angle Ecunctorian
than a point TDSE 35 9d to a new peak on the each. strength of a renewed and high. New York Stock Exchange er tako-over
English American Electric also enjoyed a speclat demand attracted by reports of a new diesel engine.
bid from ມ company.
Oils were mostly easier with Royal Dutch down sterling.
Gold Bares opened strong but tended Casier inter. Other metals were quiet.
Despite a good press on the Anglo-Japanese trade agra- were fraction- ment, Japanese
ally easier with Tokyo Electric down £1. Among the Ger- Loon fell £1- mans, Young
United Press,
London Foreign
Exchange
New York Mantresl AmsterdamA Brusasia Copenhagen
Thebon... Milan Btooom Zürich
London, Oct.
1.20 1/10-2.791 2.7036-2.201 159.4216-130.45 10.3214-193312 22.73-11.7235 on 09-80 10 1755-1.75911.
12.21-12.2114 Indied Press.
bond volume was $3,170,000.
Stock American
Exchange volume was 710,000 shares.
Dow-Jones cbeing
were:
30 intustrials
20 li
15 titlen
DA RIDERS
40 bonds
Motorola Inc.
Montgomery Wardt
National Cash Reg..
National Dairy Prod.
Nations) Di tilers Natunai Lendi
National Steel Corp. New York Central Olta Mahlerun
otla Elevators Gwen-finale Glass Pacific Gas & Elec. Foellie Wertern Oil Pura American Airways averages Paramount Pictures
Penny J. C. 448.5ean, Salt Co.
Davis Co
140 G1 Pillp Morris
Philips Petroleum
01.no
130.63 Procter & Gamble Co. ta.60 Publicker Industries
Closing Prices
Aldon Inc. Asy, Allod Chemicals Allied Mille Ine.
Allis Chalmers
American Bineiting Ani, Sugar Ref. Amartean Tel & Tel American Tou. "D"
Pure O
Redle Corporation
Republie Steel
Strength reflected the rise at and Singapore, plus B0%, London
rumours from the Continent of a 44 possible increase in the price of
synthetic rubber.
201
30
4012
341
301/
20
some
50%
40
Confirmation was lacking, but deaters understood sub- stantial premiums had been paid here for synthetic needed to ful- export engagements
64 Latin-American countries,
120
40
170
20
to
In the shipment market, a on three toprago fair-gized ambers, four ambers and browns reportedly had been done over- night from Indonesia.
Locally, January one shoot sold in the forenoon at 42 centa and December ones at 43 cents with later bids up 4 pente a
$4 pound, dellvored basis. Spot No. 301 Res were quoted nominally 44
cents. Futures closings were:
ala contract Oct/Nov 31.10
Dec/JDEL
20,28 Maribor. PK PA May/Jurva 24.05 20 July/Aug. #New contract May/June 20.10
July/Aug. 26.06
8A0 PAULO Futures closings, in cruzeiros per kilo were as follows:
Des.
Mar.
May
July
29.10
31.50 31.50
In the US the average price of 16/18 middling cotton at 14 markets today designated spot was 33.06 cents. Sales at these centres totalled 03,135 baies.
-United Press.
Singapore
Stock Market
Singapore, Oct, 19. Brokers today quoted the following stock prices: Batu Lintang Rubber
Lid, British Borned Petroleum
Co.
Watson
COTTONS
Textiles
MISCELLANEOUS
Allied..
14.70
0.10
B
500 10.00
100 @ 20 900 at 20
International Tin Agreement
INDONESIAN
ACTION
UNLIKELY
succession and gilt duties.
In view of prospective
པ་
creases in population and
the New York Sugar
Market
rise in Internal costs which has already taken place, estimates under many headings of cur. rent expenditure Indicate ren- By extording sonable restraint.
an
World
New York, Oct. 18.
No 4 sugar futures
this policy throughout its field, closed today with sales of 34 the Government can make
contracts. important contribution to na- Domestic No tlonni stability. The most signi- closed unchanged to 2 points 6 sugar futurez Acant increase In current ox higher
with sales
crease of £NZA million, arising a mixed trade between refiners, partly from increased payments dealers and commission houses. to some classes of beneficlary Futures: under the Budget proposals. The provision for defence has been increase by £NZ2.7 million.
penditure toms is in
social
services which are expected to exceed £NZ120 million, an in-
tracts.
of 80 con-
Both markets were quiet with
Contract No. 4 (world)
March
321
Млу
July
1,23
Heptember
3.23
Spot-(cents per lb. fob Cuba) 320
Open Interest: 1,328 contracts,
Contract No,
November
5.30
5.40
0.04
CAPITAL EXPENDITURE Capital works expenditure by the Government last year fall short of the estimates by some
March LNZ7 million (9%), due chief- Moy and July ly to shortages of labour materials. This year's estimates Sept.
Ex-duty) Open interest: 012 contracts.
in general lle between the Spot-(cents per ib. elt NY" London, Oct. 18.
actual and estimated outlays for With a lege number of do-ast year. This is the case with mestic troubles facing the new Government, there appears to
bo
little hope of "Indonesia taking any action on the interna- tional tin agreement before the end of the year at the earllest, Financial Times wrote today.
Some observers, it added, would put the possible date far into 1956.
With the price of fin at over £750 per ton together with the Amerlenn large- continuing scale purchases of Indonesian ure for the Texas smelier there is little incentive at the moment for her to rush into signing.
The Indonesians appear to and regard the tin agreement the continuation of American "mutually ex- stockpiling clusive, alternatives." Unl.ed States
stockplling policy, the Financial Times said, is there- fore the lynch-pin in their at- tkuda-China Mail Special.
Opening New York Foreign
Exchange
New York, Oct. 1B
$1.0034
2306; United Frend.
Reynolds Metal
Shell Oil Co.
Saint Rrg, Paper
$22
Sinclair Oil
1021
Socony Vacuum
38
South Porin Fuco SAT
2016
03
Southern National Gos
Dec.
44.00
American Cyanamide Co. Am. Mach. F dry.
544 Southern Railway (Com.)
Mer,
2412
Standard Brande
2714
May
American Metal
354 Alandard Oil of Cal.
B3
July
44.10-16 39.00
1.30
Byndicate
372.00
Consolidated
Smelten
AG
Standard Out of Ind.
49
Sept.
bs
Blonderd Oll of NJ.
30.06
Ord.
20/-
12054
Trator
177
Sterling Drug Co,
784
Enitely-Van Camp.
179
LONDON
pref
43
Studebaker-Packard Corp.
49
Swilt & Co,
15
Texas Co.
10424
1
Tide Water An. Oil
44%%
Twenty Century Fox Film
2016
The market was very study with spot quoted at 95 pence per lb,” “Pricci
16/19
Hongkong Tin Ltd.""
CUT.
Hongkong Shanghal Bank-
ing CorpNETES
$1.70* Neaup Ltd. Ord.. Fraser Neave 715
Canada $6.20 England
Kempas Lid pean
Lunas Rubber Existes L14.
403%
Union Carbide
Malayan Breworten.
1inion Preine Railway
1471
United Aircraft
New Beranian Rubber
Kid,
U.B. Gypsum
settlement hoved termi
Pothing Tin Ltd.
MEEZ
V. 8. Line Co.
Nay.
Reffins Slate) pokornos Bingapore Cold Storage
1417
U.S. Emelting
South British Insurance
Us.. Stoele
TE.DO
Warner Bros.
General markets, eit basi 001
Strate Trading
$74.78*
Nov.
Biraits leanthip
$13.00
Fhijed Engineers, Örd.
$10.40
Wekrna Bron,
$1.8T
Glam tiekio «b«XBO)
• cat xd-China Mail Special
Anaconda Cupper Armou Sicel
Armour Baldwin-Lims Ham
Baltimore & Ohio..
Hendix Aviallon Corp.
Benguet Cons, ..
Bellolem Steel
Boeing Airplane
Borden (The) Co,
Burroughs Add Machine Canadian Pacifle B.
(JJ) Co
Financial
C. Tractor .
Oneness COTT Chry Ger Motors
Corp.
Colgate Palmolive Co.
U.S. Rubber
Westinghouse Electio
Wert Va. Pulp & Paper ..........
Woolworth
No. 1 d. 3036-30
Dec.
Apt/fune
Jly/Hept.
Etate orepe nquoted
Exchange Rates
thi
Mariners, was done in 10 local
market úgnificial, EXCHIRDKO morning at the following ratos:m
Us, döller (per: 91) Bang Bierling noter. (por41), Australian holes, (per CU
Indonesian rupiện Xper 109)
more (Ftmlto)"
Indo-China plastres per 100)
-United Press.
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