THE CHINA MAIL, TUESDAY, OCTOBER 25, 1955.
TRADE and
COMMERCE
AMERICAN ECONOMY
TWA Backed By Northwest
In Manila Bid
Washington, Oct. 24.
10
Interest Focused
TWA's proposal to extend its prtant International route be- you lombay and Ceylon Manila was
try supported Northwest Airlines S pre- liminary hearing before CAB Examiner William J. Mudden
"Northwest Airlines hopes To
see TWA's application granted
W
fr+
possible.",
amplly NWA'S attorney cumented The peharing conferefier
Approval of TWAS applies- ilon
would establish 1.5.
round-the-web nag service enabling TWA In con- Brel
Mala with NWA round-the-world service by the gile
3WI
ww
13046
whe
On Automation
HONGKONG
STOCK
And Its Impact EXCHANGE
By JOHN MORKA
New York, Oct. 24. Americans talked last week of automation and of its sociological and economic impact on the nation.
Interest was freused on Washington where congressional subcommittee heard conflicting testimony by experts on the implications of this new concept in the streamlining of production and the processing of goods.
The big question for labour: How many Jobs will automa tion display.
For business the tremendous
How a meet
DIOCESSIN
ננסן!
that new advance, an automa-
have Fer:
tit.stance 1 1 SUB- managements" althily prehend what it can
Bug hecine
de mind forsarage
ENT...
with
N-
goods with more efficient post-¦ dining moastra, sirpped-up contemplated
employlad' detnond genitally.
and rising Culing to join TWA was authorised
In one els of production, are
now NWA at Shanghai This route, electronic techniques
the cases at least 1,000 Unes more
giving are
attention never before to autemination. Su efficient than present relative
burdensome devices.
so that the automation ly
to esti- areizus
however, was closed off
Cunuunnist UST 1 In Chun
TWA arul
quently requested sion to Tokyo
wy activity stabze-
am PX VD-
via Hongkong i which the CAB did not grant.
A heating to consider TWA's Bas been tenta- new proposal
24 Jan lively scheduled for
New
The automation industry Is 1301 something that has sprung up overnight. It has been long developing.
much industy,
prate now int luster. about
1,000 company, with links to
other at Irost a dozen
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange utis moming amounted to $770,000.
ing's transactions; Noon quotations and the morn
BHARES DUYERS Sellers BALEY
BANKS
IK Bank INSURANCES
Union Lombard.. Underwriters
DUCKS,
K. Whart Dark Provident
(nd) Wheelck
.. 1700 1715 10 @ 1719
FAC 945 11 045
10
70 71
20 50
1011⁄2 10.00
9.30 1.80 1700 @ 0.50 1800 9.45 2000 of 940
20.70
10.30
70 38
LAND. ETC.
1K Hotel 182 18
HR 1.
(Rio) Thumpopsya
INI Rey RUBBER
A Rubber 1.901.923 2000 g 2.90 Trust UTILITIES
Tri
242024.50 Yurt Ferry 123 (Light (0) 270
2.222.273 10,000 yr 1,25
Ligot N Fitria
424 40
COM-
-25140
In recent years, progress has that to su temendous observers, it now appears.
It is now businers, billions,
$3,000 m £1 KIVO Take and the chi
few
110-
Maçao Telephone INDUSTRIALS
Wenent
York Market
Continues Advance
New York, Oct. 21.
The stock market capped with a strong finish
where in sight.
Last werk. labour leader
orged Me Waher Houther gradual reduction in the work- ing week to 30 c 35 hours as a cushion to protect the work- ers from automation. He esti- muted that to maintain present high levels of demotie activity in the United States. the US will have to turn out from
to 7 per cent more goods and services yearly, compared
an average gein of 5 por cent.
at this
today its sixth advance in a row and its best string Expansion of gains since the market bruke
Eisenhower's illness a month ago.
Un President
Trading picked up a bit from the Friday pace, with turnover totalling 1,820,000 shares, pared with 1,710,000.
Reports
st
record
another batch production,
reports. Invourable
Vypnuter Bone good dividend, predje- tions of record Industrial output next year, all helpst sentiment. Steel shares were among the best performers as Wall Street walls the outcome of the US Board Steel
Bethlehem meeting later this week.
+7(98)
Aircrafts, motors, oils, ferrous metals and a host of special stocks rose a point to 3 polnis, with Industrial stocks up 2.35 on average, rails 0.55 and utilities 0.10.
Douglas Rally
Douglas featured in a fast- minute push which added more than 3 points to its price us the
announced company DC-8 10 mirtiner is in duction, Lockheed, Beeing and
North American gained than a point each.
more
Continental Of Del
Combiental Steel
Corn Products Crime Co.
Crown Zellerbach Cuban Amer. Sugiu Curta Wright
Datum Alkalt Dow Chemicals
Dumont de Neznuary Kuzman Kodak
Fil Pan Nationat Cas Esto atroci
Gen. Pub, UL.
| International Paper
in Tel Tel
com-
rate
19 ΓΟΥ
necessary
to make jobs 800,000 ཌྷ་ 1,250,000 workera annually, he said, and to pre- vent displacement each year of some 3.5 million workers when productivity rises by 5 or 6 per etal.
New Industries
100 un 311⁄2
113
160 0
23 100 @
1400 23
150
1 2000 1000
Flee 11.00 12
STORES, ETC
Dairy
Watson COTTONS
1000 4 43
200
200 424
1000 # 43
35 20 000 35,25
37% 37% 1800 m 3715 G0 3715
Yangleze XD 7,05 720 Allied
WORLD RUBBER PRICES
on
Fadden Urges Gold Price
Increase
Canberra, Oct. zë.
Sir Arthur Fadden, Aus- tralian Federal Treasurer, today, advocated a higher world price for gold and lower European tariffs on primary producis os essell- tial moves towards world currency convertibility.
Sir Arthur, who
معلم
of the
Deputy Premier, told the Council Federal Country (Coalition) Party that continued low gold prices prevented_gold_pro- duellon from playing an effective part in Inferna- tional settlements.
He urged that as soon as progress had been made towards convertibility in other aspects, the enlarge- ment of gold reserves and the reinforcement of earn- ing power by an increase In the gold price should be undertaken.
(Mr Eric Lown, South African Finance Minister, urged an increase in the world price of gold when he addressed the yearly meeting of the World Bank in Istanbul last month.)- China Mall Special
WORLD
COTTON
MARKETS
SECTION
SUPPLEMENTARY BUDGET
Tomorrow's Measures Should Be Worth The Price
•
London, Oct. 24.
New York Sugar Market
Now York, Oct. 24. World No. 4 sugar
fattires closed 1 to 2 points lower with anies of 03 contracts,
Domestic No. 8, sugar futures closed one point lower sales of 30 contracts.
with
Both markets remained, mulet ponding-devoloprienty-in-ine raw and refined markets,
In world raws, dealers' uns confirmed reports say that Iran
The measures taken since February to remove the overstrain are plainly working. The purchased a cargo of Cuban re- further intended measures seem well conceived, fined suger and a cargo of both in general and in the specific sensitive sectors of defence spending, housing and farm subsidies.
Formosan refined.
Futures:
Contract No. 4 (world)
March May
3.18b
3:18
321
Sept.
3.20
"Open interest; 1,320 continels.
Contract No. G
437 0.43 0.33
8.33
When announced in Parliament the new y measures will no doubt fall short of perfection, Spot-teents per lb, tob Cuba) but the prospect is that they will be more than adequate for the immediate problems, leaving something over to do more permanent good work ar and
March
to give the chance of a fundamental Sept. strengthening in the economy and in sterling and Spot-cents per lb. elf NY the dollar reserves.
The credly squeeze is likely 10
hard pinch increasingly from next month until About
has niso appeared
for some months,
involve some temporary squeeze
March.
and is now
generally accepted, that the needed Hep-down Nationary cvcremployment
sound full
In-
employment would
from
profiles,
For markets and investments, both of these temporary pleasantnesseR should be well worth their price.
~
be
Its
£ས་
px-duty} Open Ikilted Pre
Interest: 388 contracts—
Dae Hongkong 29th October
14th November
9th November
12th December
01 January
Doé London
29th November
For the Goverment to doing instead of shirking duty must be us good for ki vestors as for the country.
Not Rational
It is not rntional to hold that sen- the nation's equities rau thrive national downfall, which is what a
up to $7.20 a bale before the of the inflation would have
Before the Istanbul Confer- sharply higher eup pros-ence the view was taken that when the various measures succeeded In strengthening Today's selling, coming from su
July
Truders attributed the selling splurge to: 1. Woakness at Liver- pool; 2. Growing emphasis on
.course.
Gilts have duly surpassed and there all expratalions,
reason why equities
the Increasing world-wide sur- should not fare equally well, as plus of
they go ex inflation and cul cotton; 3. Uncer raw
future tainty about
domestic sound growth. prices support levels.
over
over President and Dr Adenauer but Committee.
the overcloud world markets visory 12215-1224 week-end, warned that if pre- there is no sign of a slump in
sent production trends continues, either the US
Germany. Some observers in both coun- joverseas consumers, In two or
the uncertainties three
years, will be able to get tries regard
without Importing Q
as a salutary check along
exuberance. single bale of American cotton,
Despite
of rigid "pproval high price
expressed
NEW YORK Futures today closed 110 to mendously dynamte stage and 150 points higher with sales of its numberless applications 184 contracts. haven't
Lo been tailored yet industries suit individual plants.
But this much is certain to Automation, most like the auto, is here to stay,
automation How fant
will sili become commonplace
observers:
A splurge of dealer buying or and covering in the December delivery at the close climaxed a day of advancing prices as traders took
a cue from the London murkel.
Moxicrate quantities of ship ment
offerings from Slam and open to debate. Some bellove Indonesia were reported worked it will bo a gradual process, over the weekend. Others, like Dunn's Review and Modern Industry, feel that
by some partial candidates
One of the themes traders were more affected by Istanbul Conference was
two Southern US recessions nowadays comments
Senator Eastland to be limited. legislators.
the
was quoted to effect that he Tho Federal Reserve Bank of believed the next Congress will New York, a highly conserva- assure that the current surplus tive institution, is remarkably present will be liquidated in an order reassuring about Iy manner
arid strengthening competitive supporting at
factors in the US economy. prices.
With no general election due Senator Ellender was quoted
decade,
is just around the corner, that livery four sheets at 38% and to the effect he beloved there until the end of the 201 its immediato impact will be 39 cents. Spot No. 1 Rss were was not a ghost of a chance Britain's internal politics have
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT, SERVICE
Outwards "CHUSAN"
"CORFU" "CANTON"
Leaves Loa dan
Sailed
"CARTHAGE” 7th December
Via Bouthampton, Part Sajd, Aden, Bomkay, Chiombo, Penang & Singapore
Leaves Hongkong
2nd November 18th November
19th December
18th December Isth January 10th January 13th FebrADO'S Via Singapore. Penang, Colombo, Bombay, Aden, Fort Bald & London
FREIGHT SERVICE
"SHILLONG" loads 29th Det
·
Fonds Sth Nov.
tor B'pore, P. Swetten.. harm, Penang, Colombo, Aden. Port Said, Genoa Marseilles, Havre, Lon- don, Antwerp, Rotter- dom & Hamburg ·
for Ame "SIJILLONG"
Que 13th Nov. from U.K.
sails 14th Nov. Jor Japan
portn
48
With liberty to call at Delawan before or after. Biralts ....
Ports and st Dombay it inducement offers.
Tanks available for carriage of 011 In Bulk. Space for refrigerated cargo. Limiter Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
all 27th Oct.
for Singapore, Penang, Kangoon & Calcutta
dite 6th Nov, from Calcutta, Penand
& Straits salis 0th Nov. for Yokohama, Nagoya
& Kobe
sails 1th Nov. for
Singapore. Chit- tagong, & Kangoon
P. & O./B. I. JOINT SERVICE
In Port
salis 20th Oct.
from Karachi, Bombay
& Cochin
for Japan
duo 3rd Nov. from Karachi & Bombay. aits 4th Nov, for Japan
all4th Nov. for Singapore, Cochin,
BOMBAY,
Khorram-
sjahr & Kuwait
for Singapore, Colombo, Karachi Basrab, Khar- Jamaahr & Kuwait lords 28th, Nov. for Bingapore, DOM-
BAY & Karachi
EASTERN & AUSTRALIAN S.S. CO., LTD.
loads 0/7th Nov. for Sendaka, RANAUL, Brisbane, Sydney, Mal- bourne de Adelaide
All vessels fave liberty to osil at any ports on eT off the route & the ronis & sailing are subjecź to change or amendment with or without notice.
seeme no
The International Cotton Ad- Ees
of
or
over-
One Theme
"SANGOLA"
"SANTHIA"
nt the that tenti
"WANORA”
20 20.40 1200 * 2020
14.30
New York, Oct. 21. New crop cotton futures today plummeted to
Textiles 3.70 0.00 1000
0.85
sonal lows, suffering losses only
Nanyang MISCELLANEOUS
6.40
continuance
4.00 4.10 8000 2
0.03
500
0.06
6000
5.10
13000
6.05
market. levelled off to make meant. about half-way recovery. With the easier trend in raw inventories prices, may bring some relief to
Was
At the close the list showed material recoveries up to $4.25 n bale from the lows but still finished pressure on company liquidity. Where, as in steel, prices with net losses of 7 to 59 points.
are higher than New Orleans closed off 10 10 39 abroad
disinaction of home, paints. It
the sharpest break demand should not hurt over- since Oct. 3 when the market age p:cfit margins, plummeted almost a like amount
the
Homewards "CHUSAN"
"CORFU”
al home
"CANTON"
"CARTHAGE”
pects.
Steck
of
Chryder Motory
95
Colgate-Palmolive Co
Commercial Condit
196
Future closings
today
COT120gr Wealth Elec
12
Consolidated Elion
4}
嘻嘻
rubber per lb.
200
Nov.
174
Dec. Jan.
937
217%
Manket erepe
Family Finance Corgi,
General Electric
General Foodza
General Motors
7822 #379%
Of course Just what
no one is certain form automation may take. It's still in a tre
No. 1 palo crepe
1223-123 12134-122 unquoted
12055-121
118-120
113-114
102-104 13444-1331
and foreign Interest, commission sterling and the economy houses, locals and accumulated in reviving foreign confidence, Singapore, Oct, 24.
excellent for weekend hedging, touched aft they should be
frst Instanc Trading in the rubber market industry But
spokesmen
mid-silt-edged a the orders on stop
due too, in Mr was quict with minor fluctua-morning break which pushed and for equities 10 challenge were quick Reuther's fears. They insistexi, tions.
wili were:. instead, that automation
more and cheaper No. 1 goods, in affect makes for more jebs and new Industries which 139% will crop up to supply the re-
No. 2 rubber per 1, 24quirements of outomatie
pro-
NOV
rubber per lb. duction. Further, they argued, No. 3 buci
Nov- nol automation's impact will
No. 4 rubber per lb. affect all industries at the same
Nov time; that is impact will be Spot rubber unbalet
different levels.
Joss
ten points.
#
"SUNDA"
"SOUDAN"
Culejte Safety Huzoor Gidden Co.
4214
3746
Goodrich 18. F. Co
701
Goodyear Tire
Gt
Heyden Chemical
1734
Hestake Mining Co
Ingersoll-Rend
8215
Inland Steel Co.
57
its
Interchemical Corp.
433
pro-
t'i urinusa Maclisier
int Harvester
709%
International Nickel
703
10-13%
"OLINDA"
201
Kains John-Manville Co.
北
Kanm C. Pawer & Light
AMER
10111
and
Liggett Meyers Tub, Co.
Lockheed Aberaft
Loews Intery,
"OKULA"
"ORDIA"
Union
Lone Star Cement Co. Lowville & Nashville Lowenstein & Sons Megabi Iron Corp. Stude-Minnesota Mining
Glenn
121
0121
felt in the data collecting and
quoted at 48% cents.
503%
100%
offee units af, big industries. Future closings" whic; Commented Duna's Review:
Deu.
Aidon Development Mormanto Clienten) Co. and, Montgomery Ward the Motorola Inc.
Mar.
43.09-30 40.40-00
yem.
that Congress will restore rigid some cbvious advantage
the <t
US, Germiny high farm price supports next those
France and other countries. China Mail Special.
over
"ORNA"
Ionds 7th Nov.
40%
May
30.20
NEW YORK
"OLINDA"
July
37.50
Sept.
Deo.
35.00
LONDON
as follows:
The market was very sleady
Spot
Dec.
spot. quoted at 35-9/18
Max.
May
174L
20
30 industrials
20
DU
13 ilities
03 stocks
40 bands
Comm. future price Index
150.84
Comm, pot price index
150,00
2005 | Philips Petroleum
Procter & Gamble Co Pilzburgh Pinte, Glaav
70
1250
024
Moody's bidex
Closing Prices
Alden Ino. Aey.
Allled Chemicals
Allied Mills Inc.
Allis Chatiners
American - Airilno
Ameriena Cyanamide Co, Am. Mach. & F dry. American Metal.... American Smelting Am. Sugar Ref... American Tel & Tel American Tob. "U" Anapenda Copper
Armco Steel-
Armour
309.40
Publieker Industries
3344-35% 354-3312 3-3514. 31-34 327-03 General markets, cif basin porta; October
unquoted has a long way to go. Workers November
341-3314 have to be trained, manage- December
crepe has
Oct. unquoted ment
of the Fetale cut costs Lo
Esaic.
Nov, 303 crepe in Estale crepe thick Nov. 372 now equipment and the con- 013 sumer has to be educated.
AMSTERDAM.
****** 3312-2016 Settlement hour term: be November
July
Oct. Dec. Mar.
in
Pricea of futures closed today as follows:
quiet trading on the London Exchange today.
Market experts
Spot
33.0
little evidence of continued switching
saw
Dee.
4.02
Mor.
31.12
May
31.03
2uly
Qot,
20.70
Pure Oil
331%
Indio Corporation
41
Dec
20.71
20.30
Republic Steel
Keroids Metal
DAAN
Steel Oil Co,
1543
LIVERPOOL
$2215
Saint Heg. Foper
4019
10035 Sinclair Oil
No.. 1 rubber
Future
30%Soceny Vacuum
6352
South Porto Rico Bugar
236
Southern National Gas
331
pops
out the other end,"
to catch a packaged shirt as it
No. rubber
No. 3 rubber
it
No. 1 orope
471
Bouthern Itallway (Com.)
su
obcerved.
31.10
2016
Bandar Brands
301
Standard Oll. of Cal
349
The future, it added.
will
401
Blanderd Oit of Ind.
49 probably bring out automation,
054
Standard OR of NJ.
115
but in moderation.
17
Sterling Drug Ce.
7
Blokaly Vnn Camp,
Automation, it
said,
00
gudebaker-Packaiti Corp.
10%
come not so much is a
tidal
4R
Swift & Co.
45
1431
Texas Co.
Tide Waler Amn. Oil
319
Waldwin-Ama-jam.
Baltimore & Ohio
433
Twenty Cobury Fax Film an
Lond
Tondix Aviation. Corp.
4912
Unloth Carbide
Union Pacifio Railway
longuet Cons
United Aircraft....
Exchange
Tiethlehem Steel
.100
U.S. OVDUTTE
2014
May
1240
Booing Airplane
607
UBL Co.
Borden (The) Co.
UA. Rubber
Zurrouglis Add Machine
Canadian Paciņai R.
Case (J._L.) Co,
Financial Corp.
CSL Tractor
Celance Comp
Chano · Marilián. - Flank"
24 US. smelting
| 139 | Warner. Bron,
mögninar: as the following rates
VB Bleel
,, taular, fper 1)
18
West Vas Pulp & Paper Woolworth
Bierling notes, (por^£1)
Indonesian rupiah" (per 100) Njar ticale (DAF, 1003). Singaporn (Bizalla)||
Australan note", (per (21)W2!
isisiekote" was 33.22 car
đòrta Blind
(82,242 :: lalów/~
stui dimcult to im- The market was steady, gino a factory where you can Prices closed today in ruilders
Lost L couple of cotton balls per kilogramme, elf November
In one side of a Karganlusa as follows:
admachine and then run around
wave but more as a series of
2003 ground swelln-United Press,
3,43 buyers 4.30 buen
31.17-10 g:oup was mainly quiet, but a fow issues gebod £ and War
Loan closed £4 higher.
Industrial moved narrowly. Rolls-Royco, Unilever, Imperial Chemicals
Associated
closings, American Electric managed gains of one 3d buyers middling, in pence per ib, wero 3.70 buyers as follows:: United Press. Old contract Oct/Nov.
to
Howater two shillings. Jumped sharply on favourable Deo Jon. 2016-10 renction to its just-chnounced Mar/Apr..... 24.03 reorganisation plan. I moved
21.60 May/June,
up Ba to 1009,
London Foreign New contract Mo...
Rates Notre
Exchange
Now York- Amaterunin Brusse
Bunker was done in the Soos) | Frankfurt.
exchange market Bus Dispon
BIO Zurich
13.00
Other were. All und
new York: LOTGEN WWW NOG AYKİ
25.50
Egyptian Hamak. 361/Feb. 20.45.
·SÃO: PAULO ;) Future, closings, in cruzolro per kilo were as follows;
Nový
'Olla were stronk, with Royal Dutch
10s higher to lead the advance. Other had gains of 1..1 or 3a haren were largely
Miriing a falan
For full particulurs apply to:- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos, 27721-4.
MESSAGERIES
MARITIMES
PO. Box 13 *** Queen" Building K-Tel: 001
FAST PASSENGER/FREIGHT SERVICE TWELV
MEMO Bailing Nov. 5th "CAMBODGE"?
foreign bonds, German Reich Loans and Polash bonds."LAOSZ fell
£1. Japanagollens, had "VIETNAM” amallos Tokyo Electric dington-assented, was a major lower/
£1 lower. closing. KERTurnover, was light, bargains Jaited 1,951
United Pr募集。
Sin the United States, & the javortigo price/ al
dation SEKE
Balling Dec. Brd Balling Doc, $1st
SERVICE
mailing Nov. 7th sailing Dec. 9th
from industrials
into British
governments. The
government
FAST:
with "INDUS! ded. "MEKONG”
Non-ferrous metais
ranged to more than 2 points Kennecolt Copper
in Revere
Molybdenun.
Cupper
For rails, the best gain in the leading group
came in Preific, up more than 3.
Activity centred In baker-Packard, US Steel, Martin, Jones & Laughlin Pepsi Cola, all higher on day.
of a total 1,145 issues traded, 600 were higher, 315 lower.
New York Stock Exchange bond yclume was $1,040,000.
National Cash Heg.. National Distillers National Dairy Prod.
National Lead National Steel Corp. New York Central Olin Mathieson
American Stock Exchange On Elevators
volume was 740,000 shores,
Owen-Illinois Class Pacific Gas & Elec.
Dow-Jones closing averages Pacifle Western Ou
were:
Pen American Airways Paramount Picturen
460,32 | Parke Davis Co. 152.00 Penny J. G. Co.
0201 Penn. Salt Cu.
163.27 Philip Morris
18
10
072
44
44
Breakthrough
Locally.
small factory buy- iting Included some January de-
"The next decado will sco breakthroughs in automatic processing and transmission of vital business data beyond the imagination of management to- with day. These will be of such im- pence per lb. Prices: portance as operating tools that No liss spos will whole organisations
4u recreated and now
4015formed for new departments, December
Jan./Mar. Apr./Jime
Business Week, on the other July/Sept.
still automation hand, insist
30.80
Prices of futures closed today
NEW ORLEANS
31.15 32.03-17
31.05 31.17
29.00.
London Stock
Market
London, Oct. 24.
Most sections failed to show a definite trend
20.38
2015
"NELLORE"