THE CHINA. MAIL, WEDNESDAY, NOVEMBER 23, 1955.
TRADE and COMMERCE
New York Panama Canal Company
Cotton Comeback
New York, Nov, 22. Cotton prices regained a foothold after a mixed start today.
Pivo ing on strength Its the spot December delivery, where denberg vental-up
Lefore Anit nothe day KEREITOW. the later chelly on les were able to convert o enligt 10:ses Life moderite ne, goir.
In
view of the
WORLD Being Sued Singapore
RUBBER MARKETS
Rubber 65 polnts Contracts,
New York, Nov. 22,
futures Plowed 50 to lower with sales of 100
A big proportion of the trude Wis 12 Intra-ler lan switching tegerak kenas, Exchanges included.
zmat perti- May March 205 points; July-May feated stocks, traders experied 130 points; and March-Dec. 450 few. ir my. initi tenders, | poliste,
Colton avilable for callvery hereused overnight 10 5,780
contract
bal featured 104 brics Bul spot market
shund wire reportedly switched at tiu ee-quarter cent and Dee -
Switching operations Also
moderate business in Dec-Jas, three
the open pusition in Dreember at the start of business today totalled 200,000 bales,
Che sing
OVERCHARGED TOLLS
SINCE 1951
SAY SHIPPING LINES
Panama, Nov. 22.
Stock Market
Singapore, Nov. 23. Broker tothay quoted the following stock priers
Banking Corp.
thong The lad
Kempn. Ltd
SECTION
Chartered Bank Project
Loniton, Nov, 22.
17 Chartered Bank of Indla reday announced the formation of a two million
terii::
project tor
212 development
Balunkry and agriculture in Southern and Sruth Eastern Asia,
Th• project will take the form . ณ dretlopment board headed by the chair- ተጉÁ- ቤ of the bank Me Vin- cent Granthum end 415- eloding four of the bank's directors.
A bank spokesman said Poday that I' al wolk be to provide medium term
edit Tu viable dustries and new agrlent- tural projects.
Ur elakeed fla
{
Batu Lintang
Iliber
Vo
LA Pritish Baines Poividemme
By ndiente Cens linated in smelters
Ord.
SPACK
12/01
29/
Fino Nenve Lu, Qi Fooser & Neave 71% cis
pref
3174
Mengkong & Shanghal
$IMA
71
$4 INT
*30
buy
Italing Tan th
12 45
Sompere Peld Staing
$170
South Brush. Inpurinée d
1.fa
$2750
Burnal
A0630
$19
Juno- Rubber Exhales Lat Malisa Brewer tex
erandah Hubber Co
1. mettet
A windfall of about 5,400,000 dollars (over £1,800,000) could come to shipping ines flying the British flag as the result of a suit before the Federal Court in the southern district of New York, where 12 Jan Jour shpels atcent lines who fly the United States flag are quel 1: 46 cents bid, and 47 suing the Panama Canal Company for
27,000,000 dollars (over £9,000,000) alleged Fees Dra to have been overcharged in Canal tolls since July 1, 1951.
on tally the list anul.
Sout No 1 Res were
ster with crt ge us of thked, Futures
28 potuis Opening – prives
Wenn
1 5 lu off 10 patula. New
Orlatnayi elt send up 8 to 20 points
The spot month
. How
the 3430-cunt level i high for the movement and a
Kala of 33 points : eumulative ---$19:45 a bale from the MOTE- ᏚᎢ .
розу
1 un be: 3
Strength of December coutures truele buying in early 1958 deliveries
Mer
Ma
July
Bespl
Dre
45 75
41 20-25
at 25
34 93
33 06
SINGAPORE
Daw
The suit has been filed as a so-called class suit. That is, the 12 plaintiffs named are suing on behalf of themselves and all!
shipowners using the
Th market
early im- prosament enly shortlived and prices sigged Curing the day on other
Canal.
01-
The
liquidation. Futures:
No 1 rubber per
Dee
Jan
Feld
on the Theory, traders sald, that they
* to inherit streng h of December
No 2 rubber per 14 Dee Moreover, the heavy sale of¡ No 3 subper per th. Dee producer entries under the gov. Nu rubber er > Dee.
Spot rubber unhaled ernment loan are expertzi tu
Blanket etape
tighten up the commercial sup- N. pale crepa
of ention by the Lafe spátug
ply
and early summer
Crop news,
developmenta
1. Klik
and
price-haping inforne
just
sight of
market
usual
AMSTERDAM
114-115
Panama
Strasts Trading
Stenturp
Bone Bros
M.
London Foreign
Exchange
Landoti No 22 Porengn exchange putes » İnvest
Manfrowl
Latest
show figures
that The alleged overcharges date! New Vork about 20 per cent of the Cunal from July 1. 1851. because that Montcla traffic consists of vessels y-
Wis The cute on which
ing the British flag. Therefore, | Panama Cina) Company.
1344 123
121-121
ungucited
Jedd
12011-121
[14-135
if the sull
shouk be
100-105 1301-1384)
pletely sucessful,
com- | Into being the Bellsh¦ turporations.
፡፡
million dullers.
The manket was quiet, Prices
La
today www.closed
guilders per carlly Blogt er, elf Dec as follows.
traders become predecupied with i Desember adjustments.
Velime Open interest
13,000 290,000 31,400 427,600
The market was barely steady with spot at 90% pence per ib. Prices:
No It suul Seillement BROUS
tenn
30%-30%
302-36 30-30 34-341 32-32
No
No t rubber cunfer
Trading volunze and open in-¦ Ma terest in the Exchange today! No
3 Tubbri
I crus
350 jl 347 mann 340
PX2511 13 MI
WITE:
LONDON
Mond
Dec
Mar
May
25.000
544,400
July
18.500
Det.
10,000
171.000
Dec.
10.400
114,100
Mar.
3,000
34 MG
Jan
May
Tutal
100 1.000 137,700 1,810,000 bales
NEW YORK
Feb
Jan/Mai
Apr/June
July/Sept.
Ost./Deo,
in cents per Ib
as follows:
Dex
Jan
35 100
Spot
35-35 Kalate prep tuck Dec 371%
- United Press.
Der
Mai
May
July
Dec
Mar
May
Prices of futures closed today
NEW ORLEANS.
Prices of futures closed today
in cents per 1
Дахов
Dec
MIAR
May
Jul
Det
Dre
Mor
May
as follows:
33 50
34 20
LIVERPOOL
889895
כז-
Future opening prices. Ameri-
con middling of 16/16 inch, in pence per 16, were as follows; Did contract Úse /Jan
Mar/Apr
New centraet May/June
27 10
32-724
si powners approaching
weli get
Ave
world
CE
-
this
bes the
Beld of development whileli
betw
take over ment
the large- develop.
ment projrets suels as the Velombo Plas
eredit
cruted Tex the Reuter
the Theifilter
HONGKONG STOCK EXCHANGE
THE RUBBER INDUSTRY
Malaya Institute Fighting Off Synthetic Threat
Kuala Lumpur, Nov, 22.
New methods of propagation and intensive 'study of all aspects of the rubber industry are helping Malaya to stave off the threat of synthetic substitutes.
At a new rubber research institute near Kuala Lampor and a 3,000-acre experimental farm 18 miles away, chemists, botanists, soil scientists and field workers are working hard to improve rubber grades and increase yields.
They are al post working
DE SUNT, SE the beat restant
rubber and to Im- CHICAGO GRAIN
qu bit of prove repointing & ebulques a the Malivan Govern $28,000,000 rephitoling
ejų me
alt
200 000
workers 121 Industry 2112f the vul yers, the work ear- institute gives costume i preperity
Flat wok of the thattute is Experiments in cross- pra sem fe produse hardier.
til "1"}
A
יזי
MARKET
Chicago, Nov. 22. Cum Den Hye Arished firm, Istat other grain, veran off frag- flomally in the Hound of Trade turday
com
Suffer endt prices for helpra the feed gran futures, along with reports that farmers ad- continulug to take wanitage of the government loan with their earn propi,
Sushean
Culture,
dropped
in
pik's
Fatek Termy of weakness
and over toyhan oth
www
hanet duty "while FIR
"and Dont "
**
12:0
sking booting.
cultivation and de
mutid to
vel aques
les. At
improve
one/ the i
ald. Some suppor
Jiew that Department
Wiz altracted the Agrienture authorised) tar
¡From Our Correspondent)
Business down on the Heng-
Exhange Sick
NE
To
DOA 102 159,
E46, 12,
autonominus Before that.
the en
the lo Depolup Fant Lin
1
175*1] 79..
00 10-13- 1700-670*
HONDA
NIMIEL
gear Caltong
tions
United Ins
| 1912 9 BEATIN
SELLERS MALANGA Baat nu w
EL...
BANKS
10 Boos
sum Canal came under the Depart-, S6. The an
New York and a halfant of the Army China Mai..
Crates unavailable
The sult will be defended by the Justier Department on be- half of the Canal Company, an mutonomous corporation
In
which all the shares are held by the United States Secretary of the Army.
Basis of Suit
the The
The basis for the suit is the vexed
of question
defining activities
essential
to operation of the Canal. Punana Canal Company holds that such ovential sevices - Claude the provision of hous ing, electricity, shopping faeli- ties and so forth employees.
152
The company believes
unquoted with u
General markets, if basin, porta.
332-30
LONDON METAL
The
PRICES
London, Nov, 22. market
wus steady down
2 points and
with spot 3-month up 4 sterling. Other metala were Br. Prices closed today in sterling per long ton us follows:
comp.ny low-cost inducemen's
provided,
Special
foreign exchange
NY Industrials
Recover Most
Lost
Ground
New York, Nov. 22.
of the Rail shares, steels, aircrafts, oils,
sort, it would be impossible to
induce United States skilled metals, chemicals, spurted a point to I workers to come to this tropieni
ora
the
DE VARU, con- of States
les de lving. MEFICHORA of
The shipping compantes con- send that such activities, should the Panama Canal Company
nearly 5 points today, lifting market
values some $1,500,000,000 overall.
Trading picked up on the rise with
choose to sponsor them, could volume totalling 2,270.000 shares com-
be completely self-suppor.ing.
and would not need to be sub-pared with 1,960,000 yesterday.
sidised from ioli revenues.
Some Support
Industrial erased all but a | Fastman Budak
1 pon of their loss of 5.01 yester-Enie Railroad..
El Pano Natierul Cu
What the shipping companies | duy deine as operations £#ང་TitLtI
to the operation of the Canal
Du Post.
which
INSURANCES
Unders
1
1
10K
13
KEL
1 f
Why doen
AND. FTC
TK Motel 1550 191
17 49 47 401
Mik
25
Henty XD
,יכז כל?
..
experimental saliva, i for mybe meal futures,
was
. 300 th an aer. von ge rubber, yeld in Molaya. jwazil to start buying abour
progenitation methods. restarch mproved speeles and info disers have now increased and the vachi ba tween 800 115
1,200 16:
250,000 metite to as of US wheat
wider previous allocation.
Wheat closed off 4 to 1-1/7 cents; pnybezian (new) of 1% to 21, cris.
CLOSING PRICES
Prices per bushel in cents;
MAIN PROJE("TS
21-
Seventiera
of betwee
tabs F
believe that
1,500 lb und 2,000 sable
yields
Wheat, No. 2, red Spot
treef ng und P
Porhages the two main projects) Dee, 269% 1) 2004(L)
which
the institute Is
207α
20014
AL
I present engaged are thos
pectraves mixture of natural
de-July
Mar. May
20316-4
2024%
1012-
a chemical? Sept.
1931-M
FA
and allur Corn, No. 2, yellow rubla.r to produce the Spot perfet product for a number of Dec.
11040
12514-38
DAR SING
20
Mar. May experiments are. Juls
142
Simp Ryc
ず
Narsam
Yout
32% MIN FULANING
19
* י' זום
1
S me of the hang varmed mit secretly.
experiment in derdinged Der
to produce the prefect rubber | Mat
Elgie spelling, with thick | Onts kad vigorous growth Such Dee tren ate slowly being developed | Mar day by hand pollination and same Boy beans, No. 2, yellow
das pes ar approaching the Nav guteal.
th
127)
Spot
Spot
200 h, ack
1343-34
11-112 114%
227
334/4-234
2301%-3
2301%
234
225
130-141
$41 60
dustry is closely watching Bartey,
he work of the rubber institute,
jas it continurs the battle against New York flour
cheronchment of synthetic substitutes.-China Mull Special,
London Wooltop
Market
London, Nov. 22.
PRICES Winnipeg. Nov. 22.
WINNIPEG
Pricea of grala tutures closed today in Canadļur cents per bushet as follows:"
legalese
Jan,
INDES THALS
Prm Chinese
rubber tupper Mar
...t
나
pe Europea planter, sveryone in
My
The
July
MTON 3");
532
Lates
48
Fally Finance Corp General Electeu weighed Generul Foods
29
115)
60%
Gen. Pub Uu
39
Tin apoi
Bayern Seljern
787
ting the lock guies,
the
10 points, re- covered pointe today.
Gillette Safety Razo Glidden Co
40
3-month
Goodrich (8F) Co.
761 700
331
- รพ เเล
300
3001
in navigable condition.
best
terd 2nd hall Nuv
Frb
100
1081
Zine 2nd half Nov
014
got suno
foto.
024X
--United Press.
Cipper spot
302
Egvosion Kamak Jan/Feb unquoted NEW YORK METAL
Closing prices were unavailable.
SAO PAULO
Future closings, in cruzeiros
per kilo were as follow:
Dre
Mar.
FUTURES
is restricted practically to the heavily on the average when it General Motors inechenles of opening and shut-plunged nearly
and
maintenance of the waterway
of
It was rails that turned in the
performance, however
Goodyear Tire
Heyden Chemical Hointake Maning Co Ingersoll-Rand
Inland Sters Co
Corp International
Tel
AM
Closing prices
Oats
****
Dee
2416
New
York
Market
Sugar
May
July
7014
304
WES
Wooltops future market closed steudy with prices between to of a penny higher. Tumover
Jots. 74
Kyr
Под
M
May
100
July
100
Barley
1024
were:
体验
New York, Nov. 22.
10
Dec.
.10435-103
92
World No 4 sugir Autures
Fon
301
closed unchanged to !
1 Mar.
higher with goles of 30 contracts,
104-1044 10414-104% 304-1045
July
704-10423
4915
Sept
1014-10124
20
104-1042
Lone Star Cement Co.
301%
†
434
tractes.
Dec Jan May
104-10 104-1047
192
291
45
10% lending British
47
acereused buyers
304
Kennecott Copper ..
This polm of view recently They climbed 2.17 on average
from support
anwih individual gains ranging to auditors' report on the Paname nearly 5 points in Union Pacific. Int Business Machines Canal Co., issued by the
fat'l Harvester General Accounting Office of
Of the 1,177 sues traded, 038 International Nickel the United States Government, stocks closed firmer, 208 closedrnational Paper Canal Company's
The report critleland the lower, and 243 held unchanged. John Manville Co.
practice
Steels were strong performers Kansas C, Power & Light charging the operating losses with gains of 2 palats or more in Uggelt Meyers Tob. Co. On several of Its auxiliary Bethlehem, Youngstown Sheet Lockliced Aircraft activities against toll revenues, and Tube, and US Steel, New York, Nov. 22. Money-losing activities
In aircrafts, North American
Lowenstein & Sons. Included the Transisilmien ran up nearly 3. Prices of metal futures closed
Merabl Iron Chrpi today in cents per lb. as follows: Panama Railroad,
gues. Jersey Standard, Royal Dutch, Minneenta Mining
Mission Developinent by the com-Cities Service and Gulf Oil, add-Monsanto Chemical Co. houses operated 10.13 pany, the Pannig Line which jed
a point to more than 2 points Montgomery Ward three ships between in the oils.
Motorola bắc. operates Cristobal and New York
National Cash Reg, "A via New York Stock Exchange National Dairy Prod. Port-au-Prince, Halt, and cer- bond volume was $7,340,000. tain ship repair facilities,
American Stock Exchange vo- National Lend lume was 740,000 shares.
27.20
2000
AIMJ
29 00
July
20.00
Leod
Nov. Dec.
In the US, the average price Tin of 18/10 middling cotton al 14 designated spot murkels
Nov.
15.14 18.203ab
Dec
08.231
Zing
Was
Nov. Dec.
12.04b
12 05t
Sales at 13 | Copper Nov. 53,417 bales.-
47,000
Deg.
NY ACTD steel" 42.00-438 b-bld, Läräded.—United Press.
47.250
unevalinble today.
mistices
Wor
United Press,
London
Irregular Note
Closes On
London, Nov, 22.
Currents of good and bad news kept stocks in a narrow range on the London Exchange today, and the market closed on an irregular note.
two
On Definition
elled
The case appeurs likely 10 centre upon definition of what constiutes services essential to the operation of tho Canal. This has never beci set cut by
Closing Prices
Alden ing Abr. Allied Chemicals
a Court of Law. and falling Allied Mills Inc. such legal definition the Paname All Chalmers Canal Company has telt froo American Airline to place is own
on the term.
construction American Matal
American Cyanamide Co.
Panama Canal tolk
not changed.
Amerions Smelting rates American, Tol & Tet
American' Tob. "B" appreciably Anaconda Copper and the Canal opened by August Armce Blect
Armour
Loews Incorp.
National Distillers
National Steel Corp. New York Central Olin Mathieson Ou Elevators Owrn-I'no Glar Paelic G & Elec, Paofle Western Oil Pen American Airways Perminoval Pictures Parke Davis Co.
10
Domestic No Gun Tatures closed 1 point lower to polnoci.
of 32 con- l;ther with sales
Int the world Tow market,
refiners
WORD
of at least
one cayo of Cuban rawa for 101 January/February shipment
B6%
7111
442
4919
3.15 cents a pound, tab.
at
Dealers suld the price was 701 ten points under the minimum of
the in'ernational sugar egres ment and on that basis looked for the International Council to set the ini fal.1050 world port quota at less than the basis under the pael. Futures:
11014
344
Peony IC. Co.
int
Penn, Bolt Ch.
4715
PHATS Petal
DALT A ("my- Ch
404 Puleker Indusities
100%
Pure 01
5674 Pittsburgh Plate Gloss
101 Pal Comerstión 74% Republie Steel
15 Shell Oil Co.
DI
Contract No. 4 (world)
cx-
9.170
1.17b
3.1711
2.156
7 3.18
"Open Interest: 1,440 contacle,
March
Mny
5012
July
Metal
Sept.
Spol-icenta per 1. fob
Swat Reg. Paper
Cuba)
401
meter O
54
Sony Vacuum
196 Routh Porto Rico Regar
Contract No. 6
1674 Southern National Gas
649 Routhern Tollway (Com.)
2010
Marck
4.34
Ptraderd Brands
May
8.30
Stanard Out of Cal.
ச
316
Standard Off of. Ind.
July
8.40
Sept.
10%
Riandard Oil of N.J.
1473%
obe
T. Financial Corp.
Celanud Corp, Cisque Manhat, Bark Chils Copper .. Chrysler" Motors the Colgate-Palmolive Co. "tako | Commercial Credit
Commonwealthy Else.
Spat-Cents per the cit "NY"
401 | Bterling Drug Co.
ex-duty)
5.50
10 United Press.
Open interest:
contracts,
80
since 1914.
Many Panama Canal
Baldwin-Lima-dum, Baltimore & Ohto whose cost of living Bendix Aviation Corp. ployees,
considerably since Donguet Con those days, have been pubildly Beene Airplane Bethichein Bieri. urging both here and In Wash Borden The Co Some good corporate news solidated, Hudson Bay, and inglon that the shipping com- Burmour Add Moghine was offbet by worries over a Imperial Chemicals fell back. Panlos, for whoso the
Canadian Pacte 1,..... credit squeező early next year, Olle were buoyant, buying Canal exists, should bear some Can (7.1) Co, The overnight setback in Well psiod Itoyal Dutch ahead by of the burden of rising cosia Street also restrained 1 12 at is rek, but profile by paying higher jolle.
24. For this rousón, xDMO Sh out the gain to 1AAS
and British Petroleum Dervent effant to see the tuli two shillings of better deld shares were part of their looses and closed and copper Bnished
/regular.
An advance of mich Consolidated Idleon with all dadlines moderately. running around £herjee
dull, move, rather then a serious Continenza ou of pel Foreign bonds with Japanese liens unchanged effort to Selective buying, lent
Corn Proquat except for, a few fractional cover so large a Conmental siest
money moderately firm tone to the in- lowood Germans were quiet yuk The total was not calculated Crow dustrial list, sawith enginnering berbaliks sipels dipped: 11 and by the plant companies, but Sibals Ames Maps "alectricals", "neic stores shares more following Wall Street's, was takersdirmat from thol Curtta (WEIDA
tacking on a number of frée. Monday downturn. United General Accounting Omer oris Diamond Kas
Dow Chemlesti
enthusiasm.
British Government opened weak, but recovered.
stocks
to
B51, KTORP-Van Cames,
1942 Atulebeker-Packard Corp.
wits:& Co.
DA"] {Texas Co.
VII: Tido Water Ann. Oil 1.
60 Twenty Century Fox Flim
8112 Union Carbide
42. Jinion Pacific Railwa
4815|| United, Alvorett
ILA. Ding Do
A Rubber
Smelting
10715
109!4
231
Exchange Rates
Din Won done in the focal |47|5| unomidist, exchange market, this. porning at the tollowing, PUTORIAL kawa dollar; (per)si). Eleriing notes (por £1) traTA Australian: notes. (per £1) .. “Indonesian rupiais (por TOUJOU "Elamutionla" Aparición)TIVE
fingapore (Units) 2003
All in price per 15.-United Press.
Dre. MAY July
Flaxaced
De
MAY
July
Wheat No.
anted at 183
32444-12
3, northern Was
cents a bushels
5 was at 128 cents.
United Press.
No
Let US handle
YOUR PRINTING
Too many proofs mean timo wasted.
Wo grasp the point at the onset and
ONE PROOF generally suffices. After that, our upstordato automi ic presses make short work of the job. Let quote for your
requirements.
current
SOUTH CHINA MORNING POST PRINTING DEPT.
For print
Telephone: 20002.