New York Cotton
Quiet Trading Before Holiday
New York, Nov, 23.
THE CHINA MAIL, THURSDAY, NOVEMBER 24, 1955.
TRADE and
COMMERCE
SECTION
Page
ZAMHAL
Kaiser Building New York Market
PERSIA'S RISING OIL
i
WORLD INCOME
RUBBER
A quiet prechliday trade MARKETS Bigger Yield Than
in cotton futures today was given over mainly to Decem- ber contract adjustments in- cident to first notice day.
After rea-rawing over a range
of $1 bale the market closed
higher
to 1ES po.fla Oprung in e
3 pun
LJ、 1』
2 in 10
points, New
closed off
"
"'T!!!
were
up 2 polnals. N: w York
pr exchanges tontorrow
Orkar & Corton
Kiving Day
34%
WIN
[ur
New York, Nov. 23. Rubber futures today closed 125 1 376 points higher with suits of 423 contracts.
Strungth
December Ju- minated the market The open poslom in December, where
: שיד
of Nailoni Thanks.nding
Degsnber
rent level,
are
All Other Exports
income derived
The growing deaŭngs hereafter will be ilmli-
by Oricans do quidation totalled
327 Persia from her oil exports, which were New Furts at the start of trading
1stles
Rubber for ten otsa resumed a year ago, is stressed in a re- it n certißeated and 15
port marking the first anniversary of the certification Closed at 40 cents a pound, t
agreement between the Persian Govern» new high for the season.
Fr the spo
ment, the National Iranian Oil Company bas tres parsed in FAQS ruth- ber Jan. four
wee and the International Oil Consortium. sheets done
43 cents; Jan. 1er
"Oil alone," F, :;
states 394 Centa and Feb.
the report, "is three decis al 42%
Cenin
already bringing to Iran more foreigt, in- Spot No quoted nominally
all its other exports put
rose to the estab than
new huth for he movement, as short covered with the sunne
delivery notice for ly om
of
5,00
Lagging's tendency in the new crop
months enn inued to be use sociated with uncertainties over disposal
market,
I Res were at 48 cents pound flu zetlers indicated
come than
of the existing cottonwy bits would be entertain- together, and this income will increase
surplus and the governmen price of Futures: support level for next year.
Dec
December established at pre- mium of 87 points--$4 35 a bale! over the verage loan rate und! showed
cumulaílve re of almom $25
the bale
Aca- BUL'A low set on October 3.
May
w', [ 10
42 BO
43.00-86
ה: 1.4 70
30.50b
NI 20
36 3011
SINGAPORE
The widening preinium over The market Was the loan late, as recently
steady on trade buying and good demand pectel by sothe technicians, ap-for loses grades
Futures: par utly attracted more cotton rubber pe: 1b Dee 1203-127
coll an
for certification Th bitch
vailable for
delivery to lay
bales, an
PONU
Contract No rabbica per ib tor 6.258 No 3 Increase of 748 bules |847
low Open rubber inhaled
Manket prepr at the
Nu de crezo
from the recent
in December
contracts start of truding terlay talled 263,300 bales.
Trading volume and open in- terist in the Eschira
יעקוב
في الليلة فجة
420 200
220 30
174 400
110.300
considerably in the course of the next two Oil is the keystone of the economy years. of Iran."
In the period from the effec-¡normal regular maintennée, It five dale
agreement, | is being carried out of the
by about October 29, 1954, to August 31,|4,300 craftsmen and helpers. a total of £23,734,000 wan prid lu Persa, made up as follows—
Siated payment
123-12)
Feb
Dec
UNDAN! 123-1231 121-122 1104-11001 13315-134 1001-10244 138-130
In cash
In oli
Payments against
income-tax
Total
LONDON
Ta nauk was quiet after dm with spot up 14 pener lu 138 pence. PTICER:
3774-30%
371-3711
3016-373
Con- fire
Synthetic Rubber Record Output
of
New York, Nov. 23. A record production synthetic rubber was 08- tablished in the United
States during last October, amounting to 88,113 long tone compared with the 83,507 tons produced in September, the Rubber Manufacturers Association said today.
Increased GR-S
Production
was chiefly responsible' for the record production, the Alzoela- tion said in its monthly report New rubber consumption Ins the United States in October
nounlod
130,312 Lona, second highest month in history, exceeded only by
that
of Last June when 130,404 tens was consumed.
Consumption of all types of synthetic rubber amounted to 81,003 long foes, or, for the third consecutive month, more than 80 per cent of totul new rubber used.
Stock Reduction
In addition to il routine over- hauls, 50 major overhauls have fm. been completed since the effec- 3.318 live date of the agreement 3.602
The International
Он now
comprises 10.854 rium
American
companies. 23.734 major
Cult
Socany Mobil Oll. With 9,000 tons of synthelic (N.J.), Standard rubber exported, there was It is estimated that payments Standard 0.1
(California). The
2,000-ton reduction in stocks. Texas to Oli i for September will amount
£3m.,
7 per making
tola) Ik
of Company each holding
total number
of the Best £20,734,000
11 cent of the for
shares. months of the agreement.
"Steel Plant
In India
Washington, Nov. 23. The Henry J. Kaiser Company amounced yes- terday
The
It wijl build $130,000,000 steel plani expansion project at
Jamshedpur, India. plant will increase India's steel capacity by about 40 per cent, the company safil. The Kaiser Company said the agreement for the design, procurement and construction of the plant was signed by Kalsor and the Tata
Steel Iron and Company Limited, of In- dia.
The project, one of the largest steel plant ron. struction jobs over award- ed an American firm, will raise the Tata planis pro- duction from about 1,300,- 000 2,000,000 inget long tons annually.
The plant will be located about 50 miles west of Calcutta. United Press.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
F
Up Despite
Realising
Late
New York, Nov. 23.
Stocks added close to a billion dollars to overall valuations today despite late holiday realising which pared most issues sharply from the day's highs.
Rails stocks featured throughout the session, sparked by an 8-point rise in Union Pacific respond. ing to a five-for-one stock split proposal and $3 extra dividend declaration.
best Ralls held the
at the laskett Meyefs Tub. Co.
Lockheed Aircraft close and Quished 51.75 higher
Low Incorn.
Minnesota Mining
on average. Steels, metals, oll Loue Star Cement Co. And host of miscellaneous Louisville Nashville R.
Lowenstein & Rona. with many of Mesabl Iron Corp. Issues featured, the last responding to a food of good dividend news and a few stock split announcements.
at a brisk pace Trading waa
lindon Development Monsanto Chemical Co. Monteomery Ward Motorola Inc. National Car Reg. "A"
through the session lifting turn-National Dairy Prod.
over
to 2,550,000 shares from 2.270,000 yesterday,
Out of a total 1.170 issues traded
National Otallern
National Lead
National Steel Corp
New York Central
there were 818 higher, Olin Mathless
413 lower.
Oils Elevntom Owels-ble Glas Good dividend news helped | Pacific Ons & Elec.
Including Nopeool Western Oil many issues
Pan American Airways Chemical, Republic Aviation, aranart Plotures
closed
Patuny J, C. Co. higher. Salt Co.
Philp Morr with Philips Petroleum
Chile Copper, Sperry Rond and Parke Davri Oc. Oxford Paper which fractions 10 a point Others, such as Visking n thuce-for-one spilt
75 - prad
cont
EXASIN
Procter & Gamble pro-barzh Plate Glam extra Publicker Indutrica
Radio Corporation Republie Steel Reynolds Aletal
Business dune on the Hong-dividend, lost ground on realls- Pure Ol kong Stock Exchange thisia after the good news, morning amounted to $400,000. Du Pont, selling ex-dividend, Noon quotations and the held only a point of an earlier
wido rise. morning's transactions
BANKS
KK Bank
Loon
24 ur 1685
INSURANCES
11
Union
40+15
Lombard
AX
Natural rubber consumption during the month amounted to $4,400 tons
with $1,175 torus
DOCKS, ETC
60
During
rubber
compared
Іл September. first 10 monthe lons of natural consumed by
the
530,480 long
was Oll,
Nine other U.S. companies For the current Perslan year
hold
G together
per cent ending March, 1956, the total 5016-07
gress foreign income earned for American Independent Oil. At
lantic Refining, Hancock - Pursia by the oil industry
will 044-3416
Pacific Western OLI, Richfield 321-33 be approximately £33m.. in-
San Oil.
Jacinto Petroleum, Ümieval marketa, ei hania preda
cluding £18m,
in foreign ex- Signel Oil and Gas, Standard Oll 34-37
change brought into the country
(Ohio) and Tide Water Asso to mect 3734
Operating expaises,
to have ciated Oil, This fola is expected
British Petroleum Figen to about £85m.. Includ- ing £18m. in foreign exchange, per cent
today
were:
Month
Volume
Open interest
Dee
No na grad
Mar
01 U
Settlement house
JD
Many
Jule
$,000
Feb
Jin/Mar
AASU
Det
Jan/June
[ar
#NEW!
2016070
| Apt /June
Mu
2.7(N)
30 000
July/Bent
MAY
Total
190,000
1200 1.701.200 balee
the Jan
NEW YORK
Exlete crepe thick Dec
AMSTERDAM
In cents per lb. as follows!
Spot
34,037
market
was
December
May
July
Prices of futures closed today
March
*The
steady
34 35-30 Prices closed today in guilders in the year ending March, 1959.
33.30
kilogram, per
Dec
A3
32,A3
31 76-70 Lollows:
No
i rubber
3.57 buyers
2008
No
rubber
3.94 buyers
No
a rubber
3 48 buyers
No. 1 crepe
October
December
March May
NEW ORLEANS
Prices of futures closed today
in cents per lu as follows:
Spot
December
March
May
by October
December March
3.56
34.24
33.40
12.04
21 74
79.29
29.00
Za 13
20.03
LIVERPUOL closings.
as follows: Old contri
Mny
3.72 buyer* -United Pr❤25,
The ol agreemput provides for following the production of the |minimum quantities of oil (for Persin's internal requirements and for
19m. cuble export): metres In 1955, 29. cuble metres in 1930 and 37m. cubic metres in 1957.
CHICAGO GRAIN AGHA JARI FIELD
MARKET
Chicago, Nov. 23.
Soybean prices slipped as
New Unit
An account of the activities of the Iranian Oil Exploration and Producing Company, one of the two operating companies, gives details of development work
in
the result of un garter trend in bem all and meal and had a the [kw Agha Jart allfeld Future
influenet en American pressing
other during The first your of the middling, in pence per lb, were
grains on the Board of Trado [agreement. today.
New contract
Dee an Mar/Apr May uts
July/Aug May/June July/Aug Oct/Nov
Egyptian Karusk Jan/Feb
26.70 23.10
222 50
Hedging was reported in corn futures on receipts of 300 cars 22 16 here today, including 137 for the
grains
20.06
40.20
CCC.
Foreign demand for US
handle
of
157,000
This development, it is stated, necessitated the completion of a new production unit, which was coumissioned on July 28 by the Deputy Governor-General Khuzistan. This ult has been
lo designed wits slow, but Israel is scheduled barrels per day of crude all, thus to be in
the US market for about four-million
Increasing by 60 per cent the bushels wheat and also
potential capacity of the field. plans to buy A fourth production unit 20.00 1,900,000 bushels of US grain
Agho Jari will be startod 2000 surghuins; 1,280,000 bushels of 1950, as will, inter alia, work on 29.00 US barley, and 380,000 bushels the following items: In the US the average price of of US corn, exporters said,
cruzeiros
SAO PAULO Future cloatrags, per kilo were as follows: March
May
July
Oct.
20.90
at 14
સ
at
in
15/16 middling cotton
Wheat closed of 1⁄4 to 1⁄2 cent; 1-50 miles of oil pipelines In designated
markets spot
the various fields. (new) was soybeans
off to 1% 33.03 cents. Sales totalled 32,518 cents, bales.
KARACHI
29
were
Estimates were
CLOSING PRICES Prices per bushel in cents: Prices remained very steady Wheat No. 2, red
positions the ready Father tight. Pakistan crop further scaled
Sput
lown at about 1,300,000 bales.
200 Dec. 2003) 2004(L) 20011-36 Mar.
2012 May
2021-1 July
-10%3 Sept
1031
4-F Punjab roller gin cotion Corn. No. 2, yellow was quoted at 72 rupees per mound, while others were un- quoted-United Press.
Singapore
Stock Market
12A gas pipeline from Agha
Ahwaz,
United States industry.
Consumpilon of reclaimed rubber by the industry was estimated at 20,717 tons during holda 40
October,
slightly above the 26.444 N.V. De Bataafsche
tons consumed during Consumption for September. Petroleum 14 per cent, and Cie
the 10 months was 269,261 tons. -China Mail Special.
Francaise
cent.
des Petroles
6 per
EAST-WEST TRADE
Russian Policies
Must Change For Improvement
New Orleans, Nov. 23. Present Soviet policies will have to be drastically revised if the tempo of East- West trade is to pick up significantly, Mr Harold C. McClellan, Assistant Secretary of Commerce for International Affairs said today.
Mr McClellan addressed the 75th an- niversary dinner of the New Orleans Board of Trade.
to
K. Whort Dock
Provident (DI Wherlock
LAND ETC.
HK
JIK Laud
(Ris)
Humphreys Healty
RUBBER
A. Rubber
Truki
29.10 1000 2740 145 14.00
0.80 8.83 1000 di 1.05
17,40 17.80
+
I oils, Continental featured
# rise of $2.
Shed Ou Co.
Saint Beg. Paper
on Ou
Sopony Victauan Bouth Porto Rico Sunr
Exchange Southern Nationni Gan
Southern Railway (Com.) Standard nads
New York Stock bond volume was $3,210,000.
American Stock
Exchange Standard Ou of Cal.
volume was 830,000 shares.
Dow-Jones
were:
30 industrials
20 rats
Standard Olt of Ind.
closing averages Standard Off of N.
482.0 103.42
45.10
172.11
$0.12
Conun, future price Index 183.91 Comm. pot price index
100.01.
Closing Prices
18 uunities
20 10
2001340 00:00: 20 00 321⁄2
03 stucka
40 bonds
2000 1070
182 1.875 2650 c
1000
1,80 1.85
Alden Inc. Acy
Allied Chemienta
2.80
67
2.70
Allied Milla Ing.
2000
2.00
Allis Chalmers
$500
2.80
27 70
500 @ 22.90
Blur Ferry
130
Yaunali Ferry
102
100
22 23.40
101
30 30
900 + 3912
0.10
32
33 2000 or 3214
UTILITIES
Tran
C. Light (0
C. Light IN:
Electric
Macao Electric
ха Telephone
INDUSTRIALS
Cement Tope
STONES, ETC
Dairy
COTTONS
Textile Corp Nanyank
Ameriena Airline
Ameriona Cvanamide Ca.
Am. Mach, & F dry. American
American
Meli
Sinelting
Am. Sugar itet. American Tel & Tel Ameriena Tob. "B" Anaconda Copper Annco Steel
Armour
Baldwin-Lima-llam. Baltimore & Ohio
34 342 3250 31 Aviation Corp.
Benguet Cons.
324
Sterling Drug Co.
Blokely-Van Camp
Studebaker-Packart Corp.
Swift & Cor
Texas Co........
Tide Water A. Ou
Twenty Century Fox Füm
Union Carbide
Union Pacific Rotiway United Adreanft
U.S. Cypsum
15. Line Co.
US. Rubber
US. Smetting
UN. Steel
67 Warner Bros. 231% Westloghouse Electric
West Va. Pulp & Papor Woolworth
-United Press.
New York Sugar Market
New York, Nov. 23. World Nu, 4, sugar futures closed 2 to 3 points lower with sales of 359 contracts.
Domestle No. € sugar futures closed unchanged to 1 point higher with sales of 110 cant-
Bethlehem Steel
167
Boeing Airplane
Barden (TĐC CỤ,
Burroughs And Machine
Canadian Pacifle it.
314
8.30 0.05 2000 ** 1.00 8
5.50
C. 1. Cu.
1512
C. I. T. Financial Corp.
Cat. Tractor
STEL
Celanese Corp.
1911
tracts.
Chase Manhat. Zank
5015
Chile Copper
$8
world contract
May
MISCELLANEOUS
Allied
5.00
Oils Lead London Advance
London, Nov. 23.
Chrysar Motora
| Colgate-Palmotive Co.
Commercial Credit
Qenmonwealth Elec. Conpolidoled Edison Continental Oil of Del.
| Continental Steel
Com Producte
Crane Co.
Crown Zellerbachs Cuban Amer. Sugar Curity Wright Diamond Alkal Dow Chemicals Dupont de Nemours Eastman Kodak...... El Paso National Gas Erlo Rallroad .... Family Finance Corp. General Electric
Industrial stocks shared General Foods
A
Gen. Pub. Vül.
in moderate forward General Motors movement in quiet trading dilette Safety Razor
Exchange Glidden Co. on the London today.
Government
Dominant feature In the
today was the
posting of 200 contracts in the
delivery against transsc- tions in spot sugar.
מס
Domestic futures were steady
mixed
dealings between
trade interests. Futures:
14
March
May
July
6421 20916 201
Rept.
Contract No. 4 (world)
Spot-(cents per lb. fob Cubal
4614 March
July
Sept,
May
Contract No.
Spot-(centa per lb, et NY"
ex-duty)
8.50
United Prom.
Exchange Rates
Burines was done in the local
0136 unoillein! exchange markot this
Inaming at the following, zatdar, US. dolar. (per 31)
Sterling nales (per £1) iun Australian noter (per £1)
2015 | Indonesian rupiah (per 100) 9019lam tisala (per 100) 12835 Singapore (Sitsits)
15:00
36
2016
212
textlics and selling pressure and eased Die Stamping
Goodrich (B. F.) Co. Goodyear Tiro Jari to Bandar Mashur, the
Hayden Chemical oil port on the Persian Gult,
He called recent relaxation of | Mr McClellan enumerated a
Industrials showed a number Hemetake Mining Co. which, linking up vith
Ingersoll-Rand an East-West frado restrictions by long list of goods outside export
of gains running around sixpence, Inland Steel Co. existing line to Abadan, will replace by as the fuel.oll the United States "a removal teorictions the Soviet bloo could but buying support was modest. Interchemical Corp.
buy if it really were interested
stocks Int'l Business Machines British now being burned in the re- of red tape rather than a new
trade and
International had found some support and closed 15t1 Harvester his
Nickel finery. The gas will be pur-basic export polley," Mr. Me- in increased
Clellan said export controls en goods to offer in exchange which with gains of about £4. -International Paper ohased from the National
Int Tel Tel: Iranian Oil Company.
strategio goods "pertal only to would be valuable to the West,
Oils were in the forefront of, John-Manville Co. a small scloctive range of goods
the **These include
entirg
Dutch Kennecott. Copper advance, Royal theof particular direct or indirect
the 3-Increasing further
rarigo of consumer goods, from spurted about £11⁄2, and Shell capacity of Bandar Maskur. military value.”
matomobiles
refrigerators, was another big gainer, British 4-A beginning will be made in Ho damnissed Soviet claims washing machines and other Petroleum and Burmah boch mot
equipping the workshops In that the controls were responel- home appliances,
bit, blo for the Emited development textile machinery and, in fact, While the highest productian myth and propaganda. Theretion of consumer goods," during any one day since the
le a range of peaceful goods tid effective date of the agreement which the US and its allies
Heavy
hit GermaKI selling Another fact tending to limit boen 421,000 barrels. ..has 2201
stand ready and willing to
bonds, driving them 23214-14
Agure of around 836,000 barrels export to the Europeon Soviet/ East-West trade is the relative Potnsh
unimportance it has played in down as much as £3... 23410-34
bloc countries."
world trade in the past. At its liens were moally used 233
the 1930s 10.00- 21416
"The American official blamed postwar peak in 1948 US trade except for
never exceeded assented, which rose about £. the contralised structure of tho with
Dollar stocks were mostly 130-14In
Soviet-run economy, with its $400,000,000 out of a total US $13.801
$United Press. said—United Press, The port of Bandar Mashuris emphasis on complete economic export of $12,000,000,000, he higher and showed gains up to becoming increasingly important || #817-gumelenest, “ka," the chief | *** Prices of grain futures closed because it gets jhandle iniper | rhumbling bioak jo greatar East- today in Canadian cents per tankers up to 28,000 tons which | west trade,
Spot
Dec.
MRT.
May
July
"ept.
130 31⁄2-46. 13334 13834-14 132b
Ryn
Loc.
Mar.
Oala
Mar.
Bingapore Nov, 24.
Dec. Soybeans, No. 2, yellow
Spol
!! 31635
4396-15
06-
Nov.
Brokers today quoted the following stock prices:
Jan.
Mar.
Opening
May
July
Batu Lintan
Barley
New York flour
200 lb. cit
WINNIPEG Ph
PRICES
Rubber Co. Ltd....... $1.00 British Borted
Patrokuro Syndicate ..
raper Neave Ltd Ord. $1.73
200
Spot?
per day is contemplated for 1957,
|BANDAR MASHUR PORT
Development Work
Consolidated Tin
Bellors Ord.
Priser & Nove
Niss come fret i $8.00
tongkang à Shanghal
Banking Corp.
BEG
bukke? as follows:
cannot coffie to: Abadan and Can
Kempen, Ltd.
runes Blubber
nyan Brewerken
$4.00 B. et 176.
Okta Decarbur 10xy Fly
cause H is hearer to the "Agna
Jari field, a k
December
$1.80
:
Barley
Kyw: Berandah g
aldes Hotel Burger Cold Storage
Deostriber.
Thanks to the work
[continued from Before or
undertaken by the
-100companies, it can alrom
1998 60 tahkers: per montly addi
capacity wiii, 62)
early, 1966 up tớ. 90, tankers, par month.
Anglo-American Corp skidded showed some
Coppers
of East-West trado as "sheer mast machinery for the produce some Ave shy losses,
·Russia
but other melal
held firm.
New York Foreign London Foreign
Exchange
List
policy
throttles foeta “willingness,
and
Hew York)
Bogtand 90-day future
.caturian dollar, rule)
Exchange
The South China Morning Post, Printing Department
is, equipped with modern dié-stamping facilition,
REGIMENTAL SOCIETY and CLUB
CRESTS & EMBLEMS.
TRADE MARKS.
FAMILY COATS OF ARMS. and MONOGRAMS,
atci, eter
Call and inspect our samples
Orders accepted for Steel Dies
and Copper Plates.
Ring 20002-ack for Mr. R. Labrum SOUTH CHINA MORNING POST LTD.
yncham Street,
Ton a zolách. Simmer
toy' iifdemed: ].Täpärsövo. Jon to the US dollar'