TRADE
THE CHINA MAIL,
WEDNESDAY, OCTOBER 26, 1955,
and
SECTION
COMMERCE
China's Foreign Trade Drive NEW YORK Britain Leading
WORLD
RUBBER
PRICES
New York, Oc!, 25. Rubber futureg Malay elect 20 to 80 pobla higher with sales of 310 ventracts.
A higher conamplion report nich covering by recent sellers put priers un an upgrade after a mixed stort,
Total
tons
wika
domestic
consumption
in September of 128,226 long construed bullishly. Statisticians figured The total might run trilor August in
view
days
effect
fewor of the
In September,
working
The
the
of the muth-to-mouth
increase of 7,000 tona was tradi
fied. The
turned
closed.
jockt Strut mulcer
caster after the
der
Spot No Hza were gitated hi
44 i cents a pound).
Dec.
Mai.
May
July
Sept
Dec.
SINGAPORE
Futures
4330 412-30
46
J7 20
290 00
The market opened stenciler
advice azick
on better oversens
[1
cased later es profit-taking, closed denty on runours pend-
ing packing strike in Singapore
Futures
Na 1 rubbel 4 New
No.
Ne
3
No. 4
rubber ver Mi Nov
Brod rubber unhaled
Blanket erEDE
No. 1 pale crepe..
Dee
1345-21, 12-12
unquoted
120-11
121-12415 102-104 130-137
113-116
LONDON
The market, was firs spot quoted at 354; perer per
1b. Prices:
Settement house
BUT
BLOC WILL
SOVIET BLOC
BE CHIEF BENEFICIARY
new world,
London, Oct. 25.
During the past few days China has begun making efforts to increase trade with the non-Communist
says the Financial Times,
Next year, it is planned to increase China's imports and exports by two-thirds of their level five years ago, wher the Chinese economic overhaul began. The Soviet Union and its allies--retaining an almost complete monopoly of Chinese foreign trade-will be the chief beneficiaries.
10TH GATT SESSION
TOMORROW
Geneva, Oct. 23. The 18th session of the contracting parties to the General Agreement
ונו
But it is hoped that countries Londende the Soviet ble will ex- end their ruling relations with effort: China,
particular, have been made to revive trado with Japan, which AB1 not nly far below {se- prewar volum, but even below the 1950
!
According to a statement bas
week by the Minister of Forehan Tinde, Ye Chi-chine, rode between Chuna and the West bas
HONGKONG STOCK EXCHANGE
WORLD
COTTON MARKETS
today
STOCK MARKET
Prices softened on
In Ship Building
London, Oct. 26,
Britain, West Germany and the Netherlands, New York, Oct. 25. in that order, had the largest number of ships the building in the third quarter of this year, it was stock exchange today with announced today, |Industrials losing 2.42 on
average and rails 0.66.
The biggest losser came in
Official figures issued by Lloyds showed that New York, Oct. 25.
at the end of September Britain was building 346 Cotton prices steadied after a sharp fore-recent strong features with the ships of 2,147,057 tons gross, an increase of 65,523 noon decline carried the dis- main body of stocks moving tons on the previous quarter. She is now building tant new crop deliveries to only a fraction either side of 34.2 per cent of the world's new tonnage.
seasonal low.
Recoveries from the lows re- flected relative firmness of the nearby December contract plús buying on technical reasons and I better trade demand at the lower prices.
than After declining more $3
the Dulu market recovered re than half way to close up more 7 10
23 down
points. Thi inarkel opened up 6 to down 50 points. Now Oricans closed u 8 is down 42 points,
Another sharp drop in the certificated
plus heavy under producer
channels
en when the peak harvest-
stock, Impoundings the government long, and the impression that the supplies in commercini
may Lighten
eted a Is over.
The bolster the spot month. certinented stock deelined 2.420 on the Honghales to 18,208 bales, Business done
Exclung 43535 Stock kong Inorning amounted to $520,000.. We Noon
ciations morning's transactions:
grade zome progress in the paid (From Our Correspondent) inu sem si, It was agam larger!
inontile of the in the first six year than in the corresponding period of 1054
New Products
eletrie
arct
the previous
Orders outstanding--for ships
increased by
Sicel prices backed down as on which work had not yet the time approached US
for the
In the quarter to
Steel directors meeting, begun-had also Big Steels' Board, after the 4,437 tons market closed here, boosted the 1,320,160. dividend and reported record
аль the Lloyds, commenting sales, earnings and shipments slight boost in outstanding for the first nine
was the first months of orders, said this the year. US Steel, off is point checic in a stendy fall from a at $56, Bethlehem, closed off peak Agure of 2,684,203 tons In 1% points to $154% after being | September 1952. up more than 3 points. Motors also sořtenud.
1,033 ships of 4,138,042 tone in nob-ferrous metals, wero being
built in other Rovere Copper fell nearly 3, countries of the world outside National Lead two.
Britain. This was a rise of Oiki wore mixed with most 119,042 bons on the previous Charures small,
this excludod quarter. But Good earstings lifted Sober-China, Poland and Russin
ing Corp. more than a point.
Rails moved in a very nnrow range.
for which no figures were available,
Germany Second
Of a total 1.234 issues traded, 511
were lower, 300 higher. Weakness elsewhere reflected
Exchange York Stock New the
West Germany remained thu the routined uncertainty over
bond volume was $3,000.000. support future parity price
biggest ship- Americun Stock
second Exchange world's
nation although level and the growing emphacis
building volume was 690,000 shares.
Head had been cut. She was SHADES DUYERS SELLERS SALES being placed on the accumula!~ surplusca of
ships totalling 250 closing averages building
713,830 tons, a drop of 98,102 tons.
JAM 51
-< (3
worki wide Inx raw cotton.
List of
INSURANCES
Emi
Lautarti
K Wharf
Provaleat 10) Wherlock
70 71
2020
300 5000 19% 15.70
930 9.40 2000 1000 1000...
18 1900 4 1000
1642 200 0415
110
04
Tariffs and Trade will open The Minister gave
available I line now at Geneva on Thursday.
Tw'y include chilled between export, is expected to last
and froze bol and mution, five and six weeks.
medium
small-sized DOCKS, ETC and
motors. Įmachinery,
D diesel engints, elemicals, news- light products print, engineer ins
Ewing nachts and blcycles, building
terials and they commodities LAND. ER RK Butel China. 1 2 ever exported before by China.
Newsprint, inade by
can-
The
t,“.S
No. 1 Raster
Dec.
Jan/Mar
Apr/June
July/Sept.
3344-357%
3316-3321 35-35% 342-344- 33-33
wusslan
meeting of the
A number of with fracting parties.
be dealt with la meita arire gularly at ench GATE passion wich ab, for instance, the
con alitakana WLEN
1.3 #
reguler
countrica
Nov,
Dec.
General marketu, cif basia, porta
33-333
Estate Crepe thin Nov
thick Nov.
AMSTERDAM
731-354
303.
37
stendy.
The market was Prices closed today in guilders kilogramme, cir Nov, as
per follows:-
No. rubber No. 4 rubber
No. 3 rubber
No. 1 crope
342
3.40 pacel 324 buyres 3.72 vert United Pre
London Stock
Market
whaleh
PULVE
vbtained
under the agreement.
Asian
such
tu
UN
the
נוןTra'
Dow-Jones
were
30 dumrials
435.40
20 ralla
181.24
15 utilities
.70
new were distant
# stocks
102.03
40 bonds
98.60
Comm. fuare price
index
161.30
Coinm, not price index Moody's Index
189.29
206.70
Liverpool traders were delive on both sides of the market, reportedly undoing old straddle
placing 25 20
und 15.60 positions
Forchen brokers 9.35 spreads.
the 930 active sellers of P.39
mond, particularly July and October. Local traders, commis- sion houses and trade interests con- also were on both sides, 3437 solidaling market positions after
decline. sharp the recent
Harvesting of the remainder of the crop proceeded rapidly in the main bell this week under fair, sunny weather, the govern ment weekly summary reported.
northern 1200 4 21.80 western Oklahoma and northern
500 22.70 000 o 17.70 Texas will defoliate plants and the use of mechanical 200 or 425 pernit 1200 42 pickers, volume
the report also noted.
220 2.30
1.83 1000 300
100
24.30 500 to 24.46
DOO 24.30
50 & 113
which retain ungkut restriction Foochow Puper Mill, has already for balance of payments reasons bean cxported in sinal quaati- ; RUBBER
Realty and there havo and consultations with countriesties to India
A. Rubber waivers also been quite recent reports
Print from certain obligatrons assumed deliveries light machinery |
Chica
Southeast UTILITIES Southeast made
ian countries. The catalogue
Yaumati Ferry 113 114 sessions, the of goods to be shipped to Egypt As at previous
C. Light 10 22.00 ContactLag parties will
oon-by China under the recent Trade ster complaints against T- Agreement, which has now be
eer countries
detail, even published by
In considered which
to skul bars and various kinds of construction steel, lather, "dify or pair the benents guaranteer at earlier scations
metal-culting, milling, Krging. and reports will be made at this pressing and mining machinery, INDUSTRIALS session on the progress made
cranes towards resolving them. Other equipment, automatic telephxmo cotton a complete complaints may be considered for exchcantes, the first time.
spinning and weaving ndil, papar mili, sugar refinery and a flour mill.
stabas
Taken
Simplification
Progress towards the similcu- Lem of vertain aspect of custom
will, as usual, bo formalitica
London, Oct. 25. Scattered gains among reviewed. industrials marked an irre: gular, quiet session of the London Exchange today.
us
and other
داوار
Frosts over"
and
and
open 130034 Interest in the Exchange today
Electric
Light (N) 17 00 17.80
42 43
Macar Elec Telephone
12
344
33 700
343
were:
Cement
STORES, ETC
Dalry
37 31%
Menth
Bec.
Volinne
33.34
Open internat
(30,500
Mar.
37,000
301,000
il
10.90 20.10
14.70
100 m 20.23
May
220,400
500 DE 20
July
14,00
540,900
Oct.
11,200
121,700
4,400
04.000
1,000
11,100
construction
As articles of this kind make up the bulk of China's imports in the Cammuuist bloc, kome the arranged shipments may in actual ct bo Chinese Axports.
Watson
COTTONS Nanyang
MISCELLANEOUS
Vibes
Allied
23.30
5.90
TC-
To keep up the fast rate of China's
Industrialisation prq- A special task of uns session |gramme, a sharp rise in imports upon the pro- will become necessary. This, wil be to act
!the
inter-sessional P-sals
In turn, will mean indie agricul- bargaing Only 8,410
were working party for the holding tural exports, which have al- recorded.
investory held of a tariff negotiation conference
ways accounted for some 80 per for which would spen early in 1966. cent. of China's foreign trade. back while they awaited
contracting parties moy although China eun hardly The tomorrow's presentation of
budget
consider inals
situation afford to dispose of food abroad supplementary
which has arisen in regard to just now. Parliament.
Engineering and steel shares the reeunt accession of Japan and the invoking of Article 35 by found support and turned in a
Kurteen governments. fow gains. Rolls-Royce climbed 2s, and Unilever closed 25 60
Fairy higher.
on a roport.
Aviation
was
the
40
2004:23.70
6 40096
2000 5.05
New York Sugar Market
New York, Oct. 25.
futures World No. 4 sugar closed today 2 points higher to 1 point lower with sales of one contract.
Exchange Rates with sales of 30 contracts.
While no additional sales
*od
Mar
Tutal
132 200 2,000,000 balen
Closing Prices
Allied Chemicals
Allied Mills Inc. Allis Chalmers
Anierican Cyanamide Co. Ani. Mach. & F dry American Metal American Smolung Am. Sugar Ret, American Tel & Tui American Tub. "1" Anaconda Copper Armco Steel Armour
Baldwin Lima-310m. Baltimore & Ohio Bendix Aviation Corp. Benguet Cona.
Bethlehem Steel
Boring Airplane
Borden (The) Co.
Burrough Adat Machine Canadian Pacte R. Oso (J.I.) . CIT, Financial Corp. Cat. Tinctor Celanese Corp. Chase Manha Chrysler Motor Colgate-Palinative Co. Commercial Credit
Bank
Prices of futures closed today Commonwealth Kles.
NEW YORK
na follows:
Apct
Dee.
Mar
May
July
Dee.
Mar.
30.200 33.00-01
31.00
**
20.39
29,15-20
29.8:1
NEW ORLEANS
Cosmolidated Edinon Continental Oil of Del. Continental Steel Corn Producte Crano Co.
Crown Zellerbach Cubum Amer. Sugar Curtin Weight
Plamond All
Dow Chemicals
Dupont de Nemours
E1
Prices of futures closed today Pterans Konic ins follows:
20.20
National CaY Erle Railroad
Family Finance Corp.
General Eleetzlo
General Foods
General Motors
in world raws, middling, in pence per lb. were lomatake Mining Co.
called
sur
Tiure are 35 contructing
were reported in the locn) Businers Was done
understood a leading this dealers exchange markat unofficial another bright spot, gaining 45 parties to the GATT and it 13 that. in edition, # favourable earnings expreted
morning at the following rates:
British refiner has 0.78 1.8. dollar (per $1) number of non-member govern-
15.58 tenders of Cuban Sterling notes (per £1) and Inter-governmental | Australian notes (par £1) ments
13.10 morrow in blocks ranging from Indonesian rupiah (per 100) agencies will be represented at
50,000 to 160,000 tons covering Slam tesla (per 100) Singapore the session,--United Press.
1.00 delivery periods in 1950. (Stralia)
Shell and
British Petroleum sparked a moderate advance in the oily soellon. They moved up 19 Gd. But Royal Dutch skidded £%.
stocks British
Government
opened sluggishly, and profit- drove several
issues
taking lower. Gold shares and cop- pers showed strength early in
the
Bession, and
dollar stocks
also managed some gains.
German
bonds fell back, with
Relch and Potash Larns off £1. Japanese issues were mixed, but gains and losses were con- fined to a tow, shillings-United Pross.
13.70 21.80
US Companies Hit
Record Levels
Washington, Oct. 25,
Her
closest challenger
her
WOR
st the Netherlands, which was building 140 ships of 679,002 tons but this also represented a decrease of 4,835 tons.
Italy, France anıd Japan, which followed closely behind the leaders, all showed Improve- $1004ments over the previous quarter.
2013
There were 66 Japancer ships 501 of 573,871 tons under construe- tion, a rise of 87, 730 tons, the was building 12 United States
drop of ships (69,700 ton) a 75.510 tons-Reuter.
1701
Chicago Grain Market
US Steel Corp. Dividend Up
New York, Oct, 25, United States Steel Cor- poration today raised its common stock dividend and reported record sales, earnings, and shipments
for the first nine months of 1955.
The dividends for 1955 after this boost will bring оп 52.15 A xbate common stock.
to
At thint figure, Steel" will pay out 3114,- 878,520 in 1955, a record record high in
the com- pany's history which dates back to the
beginning
the century
of
The company's report elimaxes the
most fabulous nine months in the history of the steel Industry-
automo- period in which bile production, construc- tan, and many other major lines set now records.
In Tho
nine mouth US Steel sold
period, $3.403.005.411 products,
of ita
the first time sales for that period have exoreded the $3,000,000,000. ---Volted Press.
World Bank Loan To Japan
Japan.
да
Washington, Oct. 26. The World Bank today Chicago, Oct. 25.
nounced a loan of $5,300,000 to Most grain Autures soki 1 to 2 assist financing and modernisa cents a bushel higher on the tien of steel plate rolling fncill- Board of Trade today with supetes of the Yawain Iron and Company Limited of port from short covering and commission house buying.
The Bank announcement said: "Modernisation of
stcel the industry is of basic importance to Japan's internal economy and export trade and thus to t
a stronger and 10
Today's lous
The
advances oleo reflected smaller receipts of graing at terminal markets and hedge seting, dealero said.
limited
brought
the
Nows that the government efforts plans to buy up to 170-million more pounds of pork and 30-million pounds of land during the next 10 amount which the World Bank 212 months in a move to boost do has lot to Japan to $46,500,000. 24clining hog pricos brought buy-In 1953 the Bank lent $40,200,200 ing of lard and vegetable oil to the Japan Development Bank to help finance the construction The futures toxiny.
of three high efficiency thermal
7956
201
public utility
Recent statements by several electric power stations by three 374 candidates for Democratic Pres- Drivately-owned
dential nomination calling for a return of rigid 90 per cent of 30 parity support prices for basic to replace the present flexible also influenced plan Zutares prices.
Spot
31.10
Dic.
33.000
Mar.
31.01
May
31.01
July
20.70
The
domestic No. 6 closed unchanged to one point lower
Oct.
Dec.
20.00
Gen, Pub. vul. Gilletts Safety Razor Glidden Co.
Mar.
20.83
LIVERPOOL Future closings.
Goodrich (B. F.) Co. Goodyear Tira
72
American
Heyden Chantent
17.
Ingersoll-Rand
for to-
ny follows:
Inland Steel Co,
Old contract
Int'l Business Machines
300
Oct/Nov.
31.16
Int'l Harverter
20.30
International Nickel
21.00
International Paper
1041
May/June
58.45
Int'l Tel & Fot
Now contract
Jolin-Manyule Co.
May/June
20.00
Kansas C. Power & Light
July/Aug
24.00
Kennecott Copper
108
nk cotton
Liggett Moyens Tob. Co.
09
Jan./Feb.
39.10
Lockheed Aircraft
SAO PAULO
closings, in crizieres per kilo were as follows:
Loews Incorp, a
Lone Star Cement Co.
Louisville & Naahvlile R.
Lowenstein & signs.
riov,
20.00
Membl Iron Corp.
Dec.
20,40
Monsanto Chemical Co.
Mar
May July
said Dealers
the British
Dec./Jan,
Mur./Apr.
refiner wents to base prices on Egeylian Karnak
a
ten-month
market average, similar to its purchase arrange-
for Dominican monta
raw Future
13,00
31.50
31.00
sugor.
The British refiner's purchares of Cubans this year have been below normal, partly because it was able to draw on the British
In the United States, the stockpile for part of its require ments. Dealers said Britain is average price of 15/16 middling 14 dedignated spot not expected to permit any cotton ni further drain on this reserve, markets was 33.23 cents. Salca
totalled 88,205 Press. Futures:
March
July
Contract No. 4 (world)
3.17
3.18
3.20
3.10
Spot (cents par lb. fob Cult)
Open interest: 1,358 contracts,
Contract No. 0
2.30
0.30 $.43
BA1
The
steel, booming
construction and automobile industries carnings and profits of New Rubber manufacturing corporations hit record. levels in May the second quarter of 1965, the government | Sept. reports.
A joint report by the Securities and Exchange March Commission and the Federal Trade Commission May July Rises In US showed profits before taxes were $18,900,000,000 Beut.
in the first six months, up 30 per cent from the same period în 1954.
Consumption
Now York, Oct. 25. Now rubber consumption
Earnings after taxes during However, the amount of earn- the United States last month
first six montho were ings retained by the corpora- totalled 120,228 long tone, 6.4 the
$1,900,000,000 per cent more than the 121,081 $7,200,000,000, 31 per cent higher tions rose from tons uped in
the first quarter 10 $2,400,000,000 August and well than the first half of 1004. above the 100.258 ton con Salca ·Amount od to in the second throo
months sumed In September a year $135,600,000,000 or $12,100,000,000 That was a record for retained ngo, according to the Rubber higher than the first six months earnings, the report noted.
of last year.
of
Bput-icenta per lb, cit NY.
x-duty) Open interest: 374 contracts.
bates.United
Singapore
Stock Market
Singapore, Oct. 20. Brokers today
quoted 6.55 following stock prices
United Press.
London Foreign Exchange
Salts in the All 23 industry groups cover. Now, York. Mamutocturora Association,
Consumption of all types second quarter roached od by the report showed guine Montr
the in anles except for an eight per Amsterdam syntheile rubbers amounted to $70,000,000,000, exceeding 76,875 toru, up 4.2 per cent from previous three months record of cent decline among Instrument und
Copenhagen August, and 41.8 per cent above $68,700,000,000 set in the second producers,
quarter of 1959.
Total assets of the manufae Tankfurt Fue, the Arst nine months this Cash dividends of manufacturing corporations 00:39,000 on yours this ratio was $7.8 per turing corporations in the 099,000 by Amids year from the cent, somparmi with 51.4 ber second quarter remained at the same period in 1904 to a rotora cent in the similar. 1954 period. name $1,400,000,900 level as in of$178,000,000,000. United
United Pron.
the fret.
Bogen pe
Betu Lintang Stubber Co. LAQ. $1.00" British BarneD Petroleum
Hongko
Bank
Minnesota Mining
Montamery Ward
Motorola Ine.
National Chali Rog. National Dairy Prod. Nationel
Distillers
National Lead National Steel Corp. New York Central
Olin Mathieson
Oils ElevatoTR
Paolo qua
tiec.
Pacino Western Qli.... Pan American Airways
Paramount Pictures
Parko Davis Co. Penny J. C. Co. Penn, Salt Co. Phlip Morris Philip Petroleum Procter & Gamble Co. Pitsburgh Plate Glass Publieker Industries Pure
Radio Corporation
Bhell Oit.Co.
Balet Iteg. Paper
Bocony Vacuum
the Repubile Steel
Opening
Binclair Oil
Sauth Porto tico Bugar
C TIN Bmelters
Ord. Framore Noavo Ltd Ord. Fraser & Neava Liu 7
Southern National Ge
20/
$1.07
Houthern Railway (Com Blandlard- Brande
cun.
Standard Oil of Cal.
$0.20
Biandard Oli at Ind
Standard Off of N.
Corp.
$000
7/00
Brudeboker-Pickard Corp.
London, Oct. 24,
Lubs Rubber Estaice Ltd. Malazan Breweries
$1.50
New Brandon Rubber
he
40
Binapore Cold Biörükle
United
Dihors were unchanged. New York foreign exchange. Inter were doi available,-Unjied Press.
Kempas· Ltd.
Bwith Ca.
Texas Co
The Water Amp. OIL yo
Twenty Century Fox Film.
$1.50 Tan Carpe
Union Pacific Hallway United Aircraft
$20.00 UH. Smelog
$15.50 Warner Bros
Woodworth
grain
Joan was made to the Bank, a Japan Development Japanese Government agency established in 1951
to supply long-term credit for Industrial development and to act as
bought 900,000 medium Greece bushels of US hard wheat for guarantees
#
a
for government of private foreign
30% November shipment, but Japan borrowing. The Japan Develop- went to the Canadian market ment Bank will relend the the for 3,850,000 bushels of wheat, proceeds of the lean to
United Press.
Yawada Company-Reuter,
Let US handle
YOUR PRINTING
PROOF
generally
Too many proofs mean time wasted. Wo grasp the point at the onset and
ONE
sufficos.
After that, our up-to-date automatic presses make short work of the job,
Let us quote for your current
requiremente.
SOUTH CHINA MORNING. POST PRINTING DEPT.
of every description Téléphone: 20002