THE CHINA MAIL, THURSDAY, OCTOBER 20, 1955.
TRADE -and
ANGLO-JAPANESE
WORLD
RUBBER
PRICES
New York, O. 10.
Rubber futures today closed 30 to 65 points lower with sales of 310 contracts.
Commission house selling on balance, plus senttered hedging. supplied a demand from ace its and tackers sometimes acting for London eccunts.
In the put markel, business was less than routine, with re-; ported sales including spot one sheeis 44 cents,nd January theo, beets 1414 cents pound.
L+
Spot No. 1 Rss were quotes nominally afterward around 14
conta pound
Dre
Mor
May
July
Sept.
Doc.
Filures:
SINGAPORE
43 41-40
40 00-00
39 20
27 60
33 60
Un
short
The market was arm beiter overies advlees, covering and inde acceptanc Eased at the close the market eased on profit taking. Futures:
No. 1 rubber per 1b. Novu.
127-127 Dec. 123-120
Зал unquoted
3224p-125 121.125 122-127
No. 2 rubber per 16 Nov
No. 3
No 4
Apst rubber unhaled
Blanket crepe
No. 1 pale crepe
LONDON
1271%-
127
103-197
137-138
The market was errule with
spo. quoted at 30% perce per
Ib.
Prices:
Ras apoi
Settlement house term:
No.
November
December
Jan Mar.
Apr/June
July/Bept.
October
November
3014-30%
3042-2004
33-30
33-334
331% -33%
General markets, elf basla, ports:
354-3544
Erede
ttain thick
3834 Nov. Nov. 38
December
ilato Emoto
crepa
The
AMSTERDAM
market
WILS
Prices closed today per kilogramme, cif
us follows:
No. 1 rubber
No, a rubber
}
No. 3 rubber No. 1 crepe
steady. in guilders November
3.40 net.
3.40
3.40
mm. mm.
379 north.
Untied Prom
London Stock
Market
London, Oct. 19.
COMMERCE
TRADE
Recognition Of Principle Was Main Object Achieved
SECTION
NEGOTIATIONS Confusion In NZ
London, Oct. 19.
the "long The Financial Times said yesterday that drawn out trade negotiations with Japan seem in the end to have achieved their main object."
"This was essentially to induce Japanese authorities to recognise a principle, rather than to bring about any radical change in the balance of payments between Japan and the sterling area. The principle was that any further expansion of Japanese exports to sterling area markets would only be permitted if Japan made a deliberate effort to increase her expenditure of sterling on useful objects.
11
clauses In the new
nt
era-
intentions
the sterling me with CHD way or another"
WORLD COTTON
MARKETS
New York, Oct. 19. Irregularly higher prices accompanied a quiet trade. in cotton futures today.
Strength at Liverpool, plus reports of heavier producer im poundings under the loan and İnvestment buying in new crop months combined to impart an oversone of sieauin055,
South Africa's Bullion Up
Johannesburg, Oct. 17. Bouth Africa's gold coin and bullion bobilngs rose to 276,937,000 in the week ended October 7 from £78,030,000 in the previous wock, according to the Istesi Reserve Bank To-
Detalls
were as follows
(in pounds sterling, with previous week's figures in parentheses. whero changed):
Technicians believed the re duced volume of hedge selling pointed up reports that a Ng part of the new
Other crop ginning have been going into the loun.
Additional
the buying in December delivery followed the avomukhi Nauction Japan than 4,000 bales to 20,484 bales in the sock of certificated cotton uviúlable for contract delivery,
Di more
Forean bills discounte 31.700,000 (31,020,000); Other
in the securities Unlon 2.460.000 (2,503,000); foreign securities 5,010,000; Other aarots in- side ihe Union 2,360,000 assots Other (6,751,000); outside the Union 3,334,000 (2.068,000).
The
gold ro- ratio of serves to publlo liabilities Win 59.8
00m- ner cont pared with 57.0 per cent
the previous week.- China Mail Special
HONGKONG
is not clear exactly how ten; to which the British act of faith far Japan tas gone in looven-
Jup: ness in ing the strictions on rierling towards the sterling area turns!
O'her newspapers Indulged it was, no
In The nearby March delivery, imports, for any of the detalle out to be justined
guessing *** in A
good dent of British agreement
because the dobi
to the 38-cent in about the terms of the agree-working up I have not been disclosed. But
negotiators were keenly aware
ment but those who know the level, showed a recovery of 180 there have been several
of the proceeding that they situation fairly well say that it poln.s-0.25 a balc-from
the on polats of principle,
sis'ed 50 Tssions
on the recogni- ho ly
low reached on October 10, the the is not so much a trade agree- which the Japanese,
tion by any
the Japanese of HOST
the conventional pat- date of the last government crop rate,
main point regard as important.
of principic. In ment of fact.
les as it is an agreement for report. they spent MTU
Tire Census Bureau reported co-existence" between the two
Japan and the sterling domestle consumption of all raw cotion in Sep ember at 874,459 balca. The igure was in line with expectations and compared with 817,459 bulka used la the same period last year.
End-Sep.embox stocks in con- suming establishments totalled
Jour
The final outcome, hinnes months arguing about the ap- <n The accuracy of the statis-plication of this principle to a tinj estimate of demans, few minor items of UK trade,
the and less over
which cannot seriously coming months, and on the ex-
the balance of payments
affect of
Stock
New York
Market
New York, Oct. 19.
Prices on the stock exchange closed with gains ranging to more than two points today under the leadership of the high-priced issues. Trading picked up on the advance.
areas.
area.
STOCK
EXCHANGE
Motorcar Trade Market Upset
By
Controls
Wellington, Oct; 19.
New Zealand's motor trade has again been thrown into a state of confusion as a result of the Government's announcement of Д reduction in car imports for the coming year.
one-third
The announcement, made by Minister of Industries and Commerce Dean Eyre, followed discussions between the Board of Trade, the Reserve Bank and the Treasury, and is part of the Government's plan to reduce substantially the spending of New Zealand's overseas funds. In 1954, more than 48,000 cars were imported, most of them from Britain. The estimate for 1956 is 50,000--against an allowance of 30,000 for 1956.
New-car dealers estimate that
The New Zealand buyer been put on imports, he said, as seeking & new motorcar has soon as the market was sailafcd. almost given up hope of a free
Now the position is roughly market, Since the end of World what it was a year ago. War II, more than 200,000 cars, of predominantly British makco,
| The Alushing of Import figures have been imported. That figure will result in at least twles the represents more than half the delivery delay for the private total present car registrations user.
is still a strong -and there sellers' market.
That, they suggest, 13 the renson that the details are kept secret for the present until the
Indications recently, however, British delegation can return
have been that these abnormal to London and fully explainį
conditions which have existed the situation to the Board of 1,209,252 bales, off slightly from Trade and the Cabinet.
the August figure, and compared (From Our Correspondent) for so long that they are almost accepted as normal, were about win 1,101,370 bals on hand at Basic problem ሆኖ Japan's the same time last year.
to change, and that the market Business done on
the Hong was policy-in the pzsi-regarding Towards the close liquidation
going to revert to prewar Slock Exchange this stability. kong she bought in new crop deliveries found a
to $750,000. the sterling hin gemand ns pricts dropped morning amounted
and the quotations $1 a bale from the morning's tmnsactions: |forenpon high.'
from
sterling. In 1053 more goods area than she had sterling to pay for them and Incurred
༣
more
Noon
SHARES DUYERS SELLERS SALES
deficit of £108 million;** the The general list closed 3. points 1954 agreement
was designed higher to 19 points lower. Opin- to correct this by increasing hering prices were up 2 to off 5 BANKS access to tho Commonwealth | polnis. New Orleans closed up and colonial markets but she 3 to off 14 paints,
Into heading went
Trading volume and open in- accumulated surplus tercst in the Exchange today which rose from £7,800,000 in were:
und
thie
The upswing, in industrials marked the fourth and advance in six sessions. For the rails and utilities the first quarter of last year Month it was the fifth in a half dozen.
the Col. Tractor
Market news was favourable side. In particuler. Wall Street was quite impressed with the third quarter earnings results being released at this Ume.
The list made its best show- init In the closing minutes of the market trading. However, ild open higher and continued trend throughout session, with prices finishing at
this
their highs of the day.
the
The Industrial average closed
with gains of
Chose Marshat Bank
Corn Products
Crane Co...!!! Crown Zellerbach
Cuban Aaner, Sugar Curtis Wright Diamond Alkal
Dow Chemicals
204 tumbling from £33 million in Oct. the fourth quarter of 1954 to Dec. £24 million in the first, £4.8 Mar. million in the second quarter
HK Bank .. 1400 INSURANCES
Union
Lombard
040 045
53
DO (794234
DOCKS, ETC.
Dock
Provident
Wheelock DAD
HK Hotel
Second-Hand
Prices Fäll
Used-car dealers expect A steep increase in pricts. Those who are carrying large stocks, bought on a declining market, are jubilant. Owing to the un- ines which prevalled until he reductions were announced, however, most of them Trading Bightly and do not stand to
profit greatly from change.
the
agreed
Both sections Bre that nya renewed shortage of supplies to meet demands will result in a reappearance of the difficult conditions and unde-
the post-war market, China
Second-hand car prices bave strable practices prevalent on fallen steadily this year, more sharply than in any other post- Malt Special war year. They have been con- sistently and fantastically high
CYCH
cara made before 1930, and used continuously ever since, are still not infrequently 15.00 180 @ 10.10 bringing three-figure prices.
20.70
to £33,100,000 In the fourth quarter.
Oct.
Valuine Open interest
3,000
another
But 1055 was story, her
again
Dec.
30.200
601,800
Mark are
Surplus May
30,500
$20,000
14 athl
22 out
0,900
124,000
2,000
03 600
LAND, ETC.
7,000 63,400
139,500 1,085,100 boles NEW YORK
HK Land
rie Humphreys
New Really
1035 2000 2.30
34.03b 32.70-00
RUBBER
30201-02
31.80
30,50
30.11
20.07
Long Term
Prices of futures closed today ng follows
1.00 A. Rubber
Trust 3031-34; UTILITIES
Thin
3
14.000 9.13
There has been a very active black market in second-hand postwar and, at
07 North American cars with only nominal mileages marked up, were realising up to 'double list price.
*****.. 24.20 2416 2015 82420 Star Ferry
100143
The
credit
Government's restrictions carlier in the year- had their effect on the market, and so did the decree that the deposits for hire purchase were 50 por cent to be not less than
Celanose Corp.
Chrysler Motor Colgate-Padreolive Commercial Credit Commonwealth Elec. Consolidated Edison Continental Oll of Del, Continental Steck
4
的话
Co
B01
Total
10
42%
and to £1.8 million In July and August.
30
Spot
DI.
Mar.
2014
May
Discussion between the two
July
Dupont de Nemours Eaman Kodak
2104
countries on how to correct all
Oct.
Dec.
10
Pa National Gas
00
2312
this started four months and has only now reached, sp parently, a long-term solution.
ago
Mar.
Yaumaul Ferry
XD
77
1342
301
It has been in London a po-
that the pular theory
agree
Prices of futures closed today
112 136 C. Ligi (0) 21.90
as follows:
37
70
ment envisages total trade, both ways, of £2,255 million
Spot
13.30
Electric
4146 42 480
Dec.
52.31
41.50 1000 412 1300 @ 43
but
Mar.
67
1734
the Times today dismisses the idea cf an
May
31.03
July
30.38
Macno Elec Telephone
11.00 ..3412
04 @ 34.25
1000
34.50
30
exact
figure
as
Oct.
30.30
3470
of the
0214
having
861
48
lem concessiona
по meaning; the prob-
Dec.
30.10
mutual will bring
Mat.
30.07
INDUSTRIALS
Cement
New tho
4.51 to 453.09; Erie Hailroad...
railroads added 0.82 to 149.83; Family Finance Corp.
utilities countered with a of 0.12 to 01.75; and
1.00 to 160.72.
loss General Electric the Generd! Foods
Fears that Chancellor of Eneral market average was up
the Exchequer Mr Butler, will move to lower consumer toll on the prices took a London Exchange today, and most sections closed lower.
Leading Industrials failed to maintain their recent recovery, fractional and suffered mainly losses, Heavy selling drove Associated Elecirle down 25.
General Motors
den. Publ.
GJliette Safely Razor Glidden Co. Sales Increases on the rise Goodrich (D. F.) Co.
totalling Goodyear Tire volumo today with 1,700,000 shares, compared with Heyden Chemical
Homstake Mining Co. 1,080,000 shares yesterday.
Ingersoll-Rand Inland Steel Co. Diterahemical Corp.
of
Oils Best
":
the 1,128 issues traded, 034 closed higher, 250 declined and 244 held unchanged.
Oil" shares
mace the showing, Standard Observers noted a switch to (NJ) was the bell-wether. British
Inti Dus.ness Mochinea Int Harvester
teatmed Nickel International Paper
Int'l Tel & Tel
is to and those
which
307 total trade into balance and
30%
75%
2715
will have keep it there. Japan increased access to Common-
wealth
markets
the and to 30 United Kingdom while she has
10115 removed burriers heretofore
sales preventing British Japan-United Press.
Jin-Manville Co.
best
Kansas C. Power & Light
Co.
Kehnecast Copper ..
Liggest Meyer, Tob.
It
Lockheed Aircraft
4
Loews Incoro. ....
Lone Star Cement Co.
It
Government issues, moved up points to $131. which staged a brisk advance, Standard of Calir, jumped 241⁄2 Olri Consols and War loan jumped 15s, while others tacked
on gains of 109 or better.
Oils wero mixed, with Royal Dutch up
£% and Canadian Eagle up is. dd. But others lost up to 15.
poins to $83.
Louisville & Nowville R.
Lowenstein & Sona.
Megabi Iron Corp. Minnesota Minina
of Man Development
Monrento Chemical Co. Montgomery Ward
Du Pont led its group. registered an improvement 8% points to $216%.
Motor shares also joined
General the advance.
Moks
in Motorola Ing.
at $1344 was up 14. Chrysler Armed.
National Cash Reg. "A" National Dairy, Prod. National Distlers Nation Lead.... National Steel Corp. net consider New York Contral
Olin Mathilon- Ota Eevators
Metal chares Among foreign bonds, Ger- mans were mostly lower, Young able demand.
Curtiss-Wright led the market, ower-Illinois Olas Lorn non-essented and Dawes
turnover with 20,000 shares Pacife Got & Elec. wore major targets, but Polnshi
hands. The six
stack Pacific Western Oil per cent gained £1. changing
Pan American Airways closed $24% UP Biock Exchange Parka Davis Co
雅 Japancee liens were mostly un-
Paramount Pictures New Yor changed, except for Tokyo
American Stock Exchango Penn. Salt Co.
Electric non-assented, which bond volume was $3,210,000.
jumped £1.
Gold shares were mixed, coppers showed
United PresI.
volume was 710,000 shares.
Penny J. C.
Philip Morris Philts Feiroleum
Dow-Jones closing averages Procter & Gamble Co.
strength were:
New York Foreign
Exchange
New York, Oct. 10 Foreign exchange rates today
closed as follows:
Canada
Englarid - Official
tonificial
+ 30-day futures
Australià
edaj fulures
New Zealandh Broth Afrien
Uruguay
India Pakistani
London
30 industrials
20 rails
18 utilities
plocka
40 bonds
Pittsburgh Pinto Glass Publicker Industries Puro Oli
Radio Corporation
Republie Stoel....
Reynolds Metal
Saint Ro
Sinclair
Paper
in
UK Supplementary Budget No Effect On US Spot Sterling
New York, Oct. 19.
The announcement about the United Kingdom's supplc- mentary budget this
autumn
101% had ho offect on apoy American
NEW ORLEANS
LIVERPOOL
Future. closings. American middling, in pence per lh were:
O contract Oct/Nov. 31.10 Dec/Jan. 28.50 Mar/Apr. 25.00-65 May/June 24.05 July/Aug- 24.03 New contract May/June 28.35
July/Aug. 23.70
SAO PAULO
Future closings, in cruzeiros per kilo were as follows:
Dec:
20,10
3,10
Mar.
Mar July
31.00 31.00
of the total price of the car. These factors, indeed, resulted 500 22.90A" 2000 23 in a steady but quite sleep de C. Light (N) 17.30 17.00 500 1750 cline in used-car prices and effect were not without their on new car sales.
STONES, ETC.
Dairy
Watson
COTTONS
Nanyang
37 37% 41 3114
10.00 20.20 500 @ 20
1000 0.19
14.70
20.10
3000 # 8.40
New York Sugar Market
cakes
New York, Oct. 19, In the United States, the World No. 4 sugar futures average price of 16/18 middling today closed unchanged to 2 nt. 14 designated spot markets poin's lower with was 33.07 cents. Sales at these | reported. centres totalled 47,319 bales.- United Press.
Singapore Stock Market
Singapore, Oct. 20. Brokers today quoted account sterling which main following stock prices: 20tained its armness in afternoon | Batu Lintang Rubber
dealings trading at $2.791⁄4.
403.00
149.03
0175
100.72
08.03
Shell Oil Co....
Comm. future price
Index
18.11
Pouth Porto Rico Sugat
Southern National Gas
Southern Railway (Com)
B01
$104
Standard Brands
37
DOL
Standard Oil of Cal.
631 Standard ou at Ind
Closing,Prices
Allied. Chombosis Killed_Kilifs 'Inc.'" Aila Channer American Astline American Cyanamide Co. Am. Mach 1 dan a American, Methi
American Bylting
An Buar Hà
American Tol
Socony Vacuum
standard ou of NJ.
Sterling Drug Co
21}% stokely-Van Camp)
Studebakel Packard Corp.
củ
40
1412
Tol
17
HWH & Co. Toxi
2.02-204 Azerican Toh. "B"
Anaconda Copper
$1.00 MUNDIA
1.TAT 2.7816
Armes Blogt-
AITIQUT
3.TO 5710
2.791
Balimotsi
.2000
307
2100
exchange
United Pres.
(010096 | Faridix Aviation Corp.
Deprint
74 Tide Water Assn: Dil
043 Treaty Century Fox Fuim
Union Carbide)
Union Pack]a-Ra
1yUnited Alteract
Blok Co. UB. Nubber
03. genelting
Wecher Eros Westingh
| Woolwo
་
Eo. Lidij British Burnto
Petroleum Syndicato Smelters Ord,
The announcement came as aļ surprise as no sction had been Consolidated in
11% anticipated before reassembly Frater Neave Ltd Ord.
B1 of the House of Commons on FORCE Neave
07.
October 20.
-
*141* eum prof.
Hongkong Shanghai
Banking Comp:
In the market supply and de Hongkong Tin t mand apparently
20% Balanced.**
Ware Will Icanpas
no
Domestic No. 0 sugar futures closed 2 points lower to 1 point higher with sales of 85 contracts. Business ins the domestic contract was mostly routine and limited to trado interests. Fatures!
March
MAY
Buy
Sept.
<
Contract No. 4 (world),
Spot-(cents per lb. fab Oubs) Open Interest: 1 contructs.
the
Opening
$1.00
42% od
29%
Nov.
Mar.
Bay July
#1.70 ed.
$0.30
Kindled Pro
$300
$1.45
4848 2858
famas Rubber Estates Ltd 12.60 Malayan Breweries Foreign exchange dealers 'said. New. Serandah Rubber supplementary budget putauide Tin' Lidi
the
#should help Bolster confidence, tained Hotel
in the longer term value of SMA UM
Cola 'Morga
sterling but that some caution Insurance Co. Ltd.
might, in fitues be exercised
sterling dealings pending benetul:
b
Ord.
disclosure of the supplementary Wharne arom
bud mot contanta agenter.
Contract No. 4
Spot-(cents per ib, et Ny
ex-duty
Open ·inforest:
0.50
$12 contract.com
LONDON SILVER PRICES
London, Oct. 19.
The price of silver was quoted
Following the announcement
new
CHINA'S DEBT TO CEYLON
Assured
Of Payment Says Minister
Colombo, Oct. 10.
The Chinese Government has ured Ceylon that China's debt of £4,000,000 to Ceylon will be Faid by the end of this year, it Was-leamed today.
The nesurance was given to a
kes de
to delegation the cylon import cuts
Minister of Zealand representative of China headed by
Coren British Society of Motor Lumineres Mr Shirley
Mr B. G. T.which recently returned from Moniecturers,
China Clarke, confirmed the impres- sion that new cars were be- coming easier to get.
Imported Faster Than Normal
was
The Chines? assurance said to be backed by the Bank of England..
Mr Cores said that his mig sion was highly successful and tha. rubber ́producers' and rico consumers have no cause for "It is estimated that if the complaint regarding the con- current level of Imports were tract with China for next year. to be maintained, the backlog of orders would be overtaken" in After detailing the new rubber another few months," he said, prices," Mr Cona, referring to adding that this indicated that the ried agreement, mid "we cars were, for the Arst time agreed with China to a formula since the war, bing imported for fixing flexiblity in obtaining faster than the demand would our rice quitemen. for hexi be under normal conditions. A year at world market price." automatic brake. would have United Press.
Die
Stamping
The South Ching Morning Post, Printing Department is equipped with modern did-stamping facilities.
REGIMENTAL, SOCIETY and CLUB
CRESTS & EMBLEMS.
TRADE MARKS.
FAMILY COATS OF ARMS, and MONOGRAMS..
etc., etc.
Call and inspect our samples
Orders accepted for Steel Dies and Copper Plates.
Ring 20002—sk for Mr. R. Labrum
today at 60 pence plz in unce SOUTH CHINA MORNING POST. LTD.
for apbt 400-7034 portefor
áratnat 60% and dow
previously,), United
dham Street...