THE CHINA MAIL, THURSDAY, DECEMBER 1, 1955,
TRADE and COMMERCE SECTION
Germany Should Make More Ample Supplies US Depends On Wide
WORLD Use Of Surpluses WORLD
COTTON MARKETS
New York, Nov. 30,
Cotton futures today see- sawed In spasmodicully active dealings.
Alternate spurts of belge sell- ing and realising were met wit furries of dome u mntil, expor
ter, Liverpool and commisions hier buy.ng.
E
Technicians though; the mar- i ket wits consolidating its position following a tie of around $5 to $8 deliveries
12
DAMMING BACK SPENDING
POWER AND PILING
UP FOREIGN EXCHANGE
By SYDNEY CAMPELL
London, Nov. 30.
In theory the German Financo Minister is damming back a bale for th deferred spending power, and piling up foreign exchange, so as to have
the
inflationary pressure when the means of relieving the defence burden comes in 1957 or 1958.
KMMEN
The past with Expectations nother
for
THE I joined with firms t the extil macke sad vallon: prier-boltering proposal, vx- peted to be introduce wher
Congr
bulitinys,
al es
is Jonyvach.
cushioning IN
tw
decllues.
Nearby December ducted narrowly in quiet dealing, L-i Ing apot luterests sold moderate- 17 with the offerings being taken up by the trade, partially ageinst sales of the Inter months
delivery strik moved up ans other 1.832 to 1,737 budung, SUR- gerking that more cvlton may be
moving into a deliverable posi- ton, fraders said.
The
mid-November parity
trday
won 31.07
price report
centa a pound, unchanged from the October and September level. At the close the list ruled 19 points higher to 9 points lower. Opening prices were unchanged tup 13 pointą. New clored up 1 to 11 points
Volumes und open
were
Month Volume
ผง
Orleans
interests
Open talere!
Dec
12,000
237.100
Mar
29.30)
$29
May
20,100
243 200
July
18,700
121,000
17.000
179.700
Deu
13.700
120,000
Mai MAY
12,000
34,100
Total
4,100 126,800
7,000 1.767.500 bales
He refuses to enlarge the defence appropriation, and he intends to tuck it away in the coming year just as he has done hitherto. But he does now contemplate spending it and with some use of the import valve.
The Even assuming that the iden then reve fence burden does come on by would aggravate it 1957 to 1958. mere five 你
problem;
There
power
Yeux ufter the originally Second, havign exchange
may be not the place in which to make schedu mal date.
Buy where and flows in this theory First, room, because at in
rlee of damned-back Internal the shoe is going to pinch: the spending
would not early stages of Germany's
те
Late Profit-taking Stops New York Break Through
New York, Nov. 30.
armament
RUBBER MARKETS
New York, Nov. 30. Rubber futures today closed with sales of 10 points Lower 343 contracts,
Of Rubber Forecast
New York, Nov. 30. Mr Harvey Firestone, Chairman of the Board of the Firestone Туге
and Rubber Co., returned from Monrovia, Liberia, where he attended the Inter- nationsi rubber conference.
***The proceedings in Liberia gave rubber mana- (acturers' confidence that
foreseeable future in the there will be ample sup- piles of both natural Synthetto
rubber," Firestone Included
aboard
Most of the business on the floor was in switching Spurs
Exchanges
points;
nt 070 Sept/March Dec/Mar. 675 points: May/Mar. 816 points; July-May 145 and July-Mar, 450 polnis. In addi- 30 lots of December futurca for February were exchanged th:00 sheets
tion
cents a pound,
The
at 37% and 38%
spot market dull Spot No. 1 Rra
and
Mr
fold HOWAIDEN the Uner Queen
said plans were muzie
at the conference for 4 programme of
with new
replanting
many stock
under cultivation.
"If these plang are put Into
"I effeol,"
he said, feel sure the natural rub- Industry call meet
continued
www.
her
quoted of 493⁄41⁄41⁄4 cents a pound. Futures: December
Mny July
September
SINGAPORE
December some day,
41.031 30.00
34.59
30.40
3030
The market opened steady at around last night's level but
Futures:
are going to bring eased en inck of support. There her a new Goloconda of foreign | was some buying interest at the exchange from Britain and the close. US. Britain's payments of 180 No 1 rubber per t
Ior million a year to Germany stationing costs are to start next May.
Not As Early German purchases of detence material from Britain will cer- tainly not be as early as that, and
It remains to be whether they will ever be large as that.
03
Des
Jaa
Feb......
No 2 rubber per b. Dec. No. 3 rubber pey ib. Dec. No. 4 rubber per lb. Dec. spot rubber unbaled Blanket crept No. 1 pale virpy
LONDON
..
12644-12615 123-123% unquoted 121-1223 120-120
133-18434 1274-1291 97-0015 133-130
The market was barely steady with spot quoted at 37-8/10 pence per lb. Prices: No. 1 Rss spo
Third, the German Industrial
not are
ikely to allow Germany to import very much Jan
Bettlement house termi
of her defence materials for Feb foreign exchange. instead of Jan/Mar making herself or, preferably ne July/Sept. fruin their standpoint, exporting Additional civilian goods against | Dec. Jan. it.
of
379-37%
the twin challenges of in- crossed demand and com- petition from synthetic rubber."--- United Press.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Variety Of Imported Supplies
Washington, Nov. 30.
of raw
The Commerce Department, in an analysis
materials supplies, revealed today that the United States is dependent upon imports for a wide variety of indispensable materials.
Among 140 commodities essential to industries, imports represented from 80 to 100 per cent of total supplies in the case of 81 raw or semi-processed products.
For an additional
10
But
ali
Bel-
United
These included such important
US imports of materials as tin, lekel, dia-nitrogenous fertiliser materials monds. newsprint,
valued wore natural
at $106.390,000 rubber, etc...
(23.2 per cent of supplies), and largest suppliers were com- the modities, including long-staple Canada, West Germany. cvilon and
Netherlands, gium, numerous metals,
Kingdom and Norway-United imporla furnished 80 to 80 per
Press. cent of United States supplies.
The comparisons were based on supply and import figures for the your 1863.
New Sources
The analysis revealed that the United States has found new sources of supply for numerous products formerly imported in large quantiles from the Soviel bloc countries, as for example Russian manganese, and Chinese tung oil, bristles, tungsten, silk, tin and antimony.
Business done on the Hong- The Commerce Department kong Stock Exchange This alatistics indicated that a for- morning amounted to $240,000, midable competition is develop- 3736-3771 Noon quotations and the ing between countries of the
Western and Eastern
3096-3815
3045-301
331-334
BANKS
HK Bank
INSURANCES
31-81 General markets, cif basis, ports:
3014-3044
.....
Estate crepe thick and thm all un-
AMSTERDAM
They are already demanding quoted. that any German imports
The market was easy. Prices military goods should be under bilateral agreements,
against closed today In gullders per
for outlets
kilogram, elf Dec. as follows. No. rubber No. 2 rubber No. 3 rubber No. 1 crepe
Stocks moved toward new highs at a fast pace through most of the session today but failed again to break through to a new top when late profit- Prices of futures closed today taking brought irregularity.
additional export United Press
NEW YORK
na follows.
Spot
Dre
May
July
Oci
1)ec
MAT
May
NEW
34:00 34.20
33 49.50
32 12
3007
29 73
29 00
ORLEANS
Industrials managed to hold 0.66 of an early wider gain in their average while rails declined 0.13 and utilities rose 0.21. Out of a total 1,200 issues traded, 589 were higher, 367 lower.
Trading was the most active since October 11, with her virt dealings Taking place on the up- side. An ཌྷ《1རྙ་ཐཱ་ opening
Prices of futures closed today :orced ticker to run lake briefly as follows:
¦and turnover Tur the
Sput
Thec
Mat
MAY
July
Oct,
Dec
яг
May
30 30
33417
12,00
311 37
3010
21 95
20.10
29 30
LIVERPOOL
Closings, in the pence per lb.
were as follows:
Old conifert
Dec/Jan.
Mar/Apr.
May/June
July/Aug.
New contract
May/June July/Aug.
Oct/Nov.
Egyptian Jan/Feb.
BAO PAULO
Future closings, in
as follows:
March
per kilo
were
Mar
July
October
In
20.
23.03
totalled 2,800,000 tart, e- pared with 2,370,000 yesterday.
A few isaurs featured with wide changes ruche Hercules Powder which rose 12 points ut is high in three-for-one stock split news and held more than 5 points at the close.
Usual Dividend Delaware and Hudson, on the other hand, turned an carly gain of around 3 points
22 31 loss of a point when directors
22 13 ordered only the usual dividend.
This, together with a loss
Culgate-Palmolive Ca Canerclat Cred Commonwealth Elec vosta.ted Edison
Continental Oil of Del
ntinental Steel
Corn Products Crusse Co Crown Zellerbach Cabon Amer. Sugar Curtis Wright Diamond Alkat Dow Chemicals Duport de Nemours Eastman Kodak
El Paso National Qae Erie Railroad... Family Finance Corp. General Electric General Foods General Motors Gen. Pub. Ust. gilette Safely Razor Glidden Co.
Goodrich B. # Co.
Goodyear Tyre Heyden Chemical
omstake Mining Co.
of Ingersoll-Rand
2335 more than 2 points in Union Inland Stesi Co.
24.381
28 Pacific and
ex-dividend ad-
40,20 Justmen for the latter,
down the rall average.
Interchentcnt Corp. int1 Business Machines pulicamat Harvester Sonia International Nickel
Fe rose 3 points and Southern International Paper
Railway
Ohio about
30,20
30 20 stebla
Baltimore and point,
int'l Tel & Tel Joha-Manville Co
Kansas C. Power & Light
In Kennecoll Copper
up
Liggeti Meyers Tob. Co. Lockheed Aircraft
Lasws Incorp...... Lone Star Cement Co.
Louisville Nashville H.
There were strong spola
with Bethlehem 30.40 nearly 2, Youngstown Sheet and 30.40 Tubo up almost 3, Jones and United States, the Laughlin nearly a point higher,
rose nearly
Mesabi Iron Corp. and Texas Co., moru Minnesota Mining
Mission Development Morgante Chemical Co. Montgomery Ward
average price of 18/16 middling
cotton
Shell points
2
at 14 designated spot than one in the olis
Aircrafts, yesterday's pace-
markets was 33.02 conts, Sales
totalled 59,829 bales.
KARACHI
was erratic
The market
Lowenstein & Sons,
sellers in the late rally were Motorola Inc. mixed with Bendix and Douglas National Cart Reg. "A
almost a point; General National Dairy Prod.
National Distiller as Dynamics
large arrivals and hedge selling i Amerlane of nearly 1 and North National Lead
offset local mill and shippers' than one. demand.
4F Punjab, roller in was quoted at 71 rupees per mound. Others were unquoted-United Press.
Singapore Stock Market
Opening
Singapore, Doc. 1. Brokers today quoted the following stock prices:
Batu, Jintang Rubber Co.
Ltd. British Borneo Petrotalamo
Syndicate Consolidated Tits Ameitat
Ord. TRANS
Nears 75%
"Banking Corp.
Hookon Tin LA. Kompas:Lia. Den
Lames Rubber Estates LAJ., Kamyan Drawertes
•New Gerandah Humber
42/-
10/2ả
$8.00
Motor
Aviation off
eased
more | National Steel Corp.
New York Central Olla Mathieson
Pacific Gas & Elec. Pacific Western Oil
Chrysler Elevators dropped nearly a point; General Owen-linols Glass Motors a small fraction,
American Tobacco and Philipp Pan American Aleways Morris gained around a point in Paramount Pictures their group. Bullard, Konnecolt, Parke Davis Co. General Electrie improved. Penn. Salt Co.
Penny J. C. Co. point to more than a point, Phiko Morta
New York Stock Exchange Philpe Petroleum
Procter & Gamble, Ca. bond volume was $3,480,000.
Pittsburgh Plata, Clasi
American Stock Exchange | Publickar Industries
volumo was 950,000 shares,
Closing Prices
Alden the. Acy. Allied Chemicals Allied Mills Inc. Aili Chalmers, ( American Airiña
American Cyanamide Co.
Am. Mach. Je v dry. American Metal
American Athelling
American Tel "American "ZOB. "E Ahucenés Copper
Armco Steel
Armour
UNST-BLENDSHEMADE BEE
Kailimore & Ohio
Dehdia Aviation Corp. Sahausi Cons, Beliebensteel Boring Airplane Borden (The) Co.
Canadian Pacie
·Murroughs · AGR
Pure Oll
Radio Corporation
Republic Steel
Reynolds Metal
1133, Saint Reg., Papee
54% Binclair Ou
67 Sony Vacuunt
24% South Porto Rico Bogar nell Southern National Gas
25 Bouchem Ballway (Com.)
Sjandard ikeandm
Itandand
United
"Camp,
German civilian goods.
the defence material that Germany expects to obtain from abroad, she intends to buy only
that part that she connot obtain by grants or by lend-icase. dollars which he has no reason-
Instead of piling up unneeded
Dr
able prospect of spending.
better od- Schaeffer might be 871% vised to spend some of them
0% right now on
importing
4
45
0314
the
means for enlarging productive Capacity in coal and other bask
preventing
much than trying to cope with them
42 essentials: 273% betLenecke
13
15 after they have developed,
the better
Cheapest In End
43
03%
22014
83
00
22
24%
money
3T
40
3045
ja:
Brl-
3.50 buyers
3.40 buyers
1.40 bom.
3.70 nom. United PTEN.
CHICAGO GRAIN
MARKET
Chicago, Nov. 80. Soybean futures showed gaine, but other grains were slightly lower on the Board of Trade today.
Dealer sald
for with
Industrials Advance In London
London, Nov. 30. Industrial shares staged
ļa modest but well-supported
morning's transactions:
hemi-advance and the London sphorta in supplying United Exchange closed on a firm SHARES BUYERS SELLERS BALEB States Import requirements
| note today. and petroleum
metals, Middle East and African pro- Buying was centred on ou duction Tooming in future im- portance,
United States Imports of crude petroleum and fuel oll in 1953 were valued at $753,172,000, and represented 18.9 per cent of US total new supplies.
Union
Lombard
1060 1019
910
101005
100 01
DOCKS, ETC.
K. Wharf...
12 Dock
28.10 Provident (0) 14.40 14.70 – 230 or 1415 3131415 Wheelock
XD
8.20 0.43 72000 @ 30 600 # 8.30
LAND ETC.
RK Hotel... HK Land
RUBBER
A. Hubber
UTILITIES
Trem
17 17.30 1000 1720 00 60% 100 # 63 10000
10.20
1a25 190
1,76
2.50
33
Star Ferry
130
I'mati Yerry
102
104
Light (0) 23 22.40
Ligat (N) 16.30
Electric
30 391
GGGCEP
•
Manganese Ore
Imports of copper wore valued {at $422,018,000, representing 41.5
per cent of US supplies,
The US imported 05.2 per cent of its supplies of manganese ore valued at $98,200,000.
Importa of iron ore were $96,780,000, or 9.2 per cent of 1.40 US total supplies. From Sweden came 28.1 per cent of imports: Venezuela, 17.6; Canada, 16.5; Chile, 12.8; and Brazil, 0.0.
In
1953 wero
wi h
up
Royal Dutch shares, nearly £ at the close. Shell Transport gained more than two shillings, while Burmah and Br.- ush Petroltum losed higher by more than a shilling.
Unilever, Imperial Chemica', Hudson Boy Ind Associated Electric sparked the advance
other among
industrials. But gains for the most part were less than one shilling.
De Havillands Bright
De Havilland was a bright spot Great in the aircraft section. Universa Stores fell back under profit-taking pressure.
Coppers were Arm Gold United States Imports of tin shares advanced at the open- ating, then quietened down and valued
with a sprinkling $258.653,000 which was 90.0 per closed ceat of letal new supplies. From small gains.
British Malaya came 38.2 per cent; from Brit Government stocks
14.8; Bolivia,
and from Nether- were quiet and virtually un- 100 18.50 lands.
13.6. Other
changed at the close. suppliers 18.10 were United Kingdom, Thailand, 1940 and the Belgian Congo. 200 18.01
The United States 12.90 13.10 399 13
imported 2004 13 mercury valued at $13689,000, 1000
or 85.3 per cent of new supplies.
larger than
Macro Telephone INDUSTRIALS
Elec. 9 9.00
31 3211
531 316
18.03
100 13.00
Dairy
Watson
All European countries,
should seriously expected October goy being cruh STORES, ETC. tain not least,
more and brivier use of crude soy- consider
spending
the buying education bean oil prompted on technical research, It would not cost of soybean futures.
11 is reported that the Japan- much in additional inflationary Whatever it cost would #DS fuel.
ese Government bas authorised come
An cheapest
the end. the import of 8,800,000 bushels Otherwise it is not merely of soybeans from October, 1955, the to March, 1956, with about 1/3 To matter of keeping up with
That country. 84 United States.
from the United States and the balance on a global basis.
The Department
of Agricul- the carryover stock ture said of soybeans next October 1, will be about 20 million bushels, about twice as many Go there were to hand at the start of this serron
307
can easier
10 where medium concerna 30% spend tens of millions Gthan big European concerns can So spend millions, shows algns of of Europe's forging right out 3641 sight.
70%
Germany.
for one, cannot του Tot afford to let it happen. For a
country with
such strong Binances and such dependence 118% on technology, parsimony would
Bisbe very false economy. 20% Like Mark Twain
87
GB$
HD
notice Today was the frst
for intentions to deliver day against December grain
con-
were corn
and dealers reported considerable liquidation of near- Economics Miniator Erhard,
by contracts after moderately
notices delivery 25% another Bavarion, who seems to large
believe, with Mark Twain, that
received against wheat, only logical weapons for a and cats. the 3014
duel are axes, has suggested
Some buying of wheat stem- **Import 1001 wider opening of the
med from additional reports of individual 47% valve by allowing
107
B4%
384 Germans to bring in their own dry weather from the south-
west. Imports from mail-order houses
Exporters reported that Fo- to is likely abroad. Nothing
land bought a total of 5,600,000 11% come of it.
Both at home and abroad, bushels of low-grade Canadian 561% Germany
could make more wheat yesterday and today for serious use of her budget ur-December shipment and that Boi pluses and forel exchange Japan purchases 3,500 tons US accumulations. China Mall wheat, 10,000 tons of Canadian wheat, and 2,000 tons of Aus- 1716 Special.
trollan wheat today.
í
New York Sugar Market
New York, Nov. 30. World No 4 sugar fulures to day closed unchanged to 1 point Jower with sales of two con- tracts.
Wheat closed up to off cent: soybean (new) up one to 84 cents,
CLOSING PRICES Prices per bushel in conta: Wheat, No. 3, res
Spot
Dec. 2004), 303;4(E)
Mar.
May
July
Sept.
Corn, No. 2, yellow
Spot
Mar
May
July
offers on its inquiry for 30,000 tona to 100,000 tons of raws for BTD
Rep.
Dec.
delivery
next year. However,
Domestic No. 6 sugar futures closed unchanged to 1 point higher with sales of $1 contracts,
world
dealers raws, understood Morocco had rejected
new offers are expected" 10 bú Dan mado "komorrow, Tuluren
195 Coatynes 20,
(world)
3000
600 18.5D
200
COTTONE
Textile Corp 6.70 5.90 1000 do 5.00 Nanyang
B.30 8.50 1000 4 8.60
Allied ..... 5.45 800 800 8.55
MISCELLANEOUS
Japan
Should
Her
Stop Dumping
Tokyo, Nov. 30, Japan's dumping of 20 per on the cent of her exports world market at "terribly low" prices led other nations to im |poso restrictions gainst Japanese goods, Mr Koichiro Asakal aid today.
Mr Ankul, who returned last Geneva, where he night from let the Japanese delegation 15 the 10th general meeting on Tariffs and Trade (GATT), de-
BO
per clarod, "The prices of bent of Japanese products are stabilised, but 20 per cent are
Bold being
Iow at terribly. mentures”
He said the Japanese Govern- kocht must "take strong mon-. sures against this" to win equal tariff treatment with other coun tries.
chlef Japan's
problem at Geneva was to persuade 14 GATT member nations to ceas Invoking Ariicie 36 of the GATT Jepan under Charter" against which they have refused Japan equal tariff treatment with other countries United Press.
Exchange Rates
new way? done in the kočni
market
(100)*
Apparel Wool
The US supplemented its own with production apparel wool"
of
Foreign bonds were firm. A few Japanese issues moved up liens 21% or more. German
few advances, but managed a Potash six per cents skidded £1.
Dolar atccks showed maring
About $1.-United Press.
10
imparts valued at $186,291,000 London Foreign
or 40 per cent of total supplies. The US in 1959 imported tung oll valued at $5,405,000, or 35,2 68.1 per cent of supplies, and
per cent of these Imports came from Argentina. Before the war tung oll, come chiefly from China.
of
United States relied entirely upon imports for supply Quecbraco extract valued $27,220,000. Argentina furnished 85.7 per cent of imports, and Paraguay, 13.8 per cent.
Exchange
New York
Montreal
Amsterdam
Brusch
Copenhagen
Lisbon
Paris
London, Nov. 30.
2,00-2.80-3/16
2,00!a=2,80«3/16 10.03-10.03%
139.95-129.87 19.3344-19.333L
60.00-10.15 98116-0015
Others were unchanged.
New York foreign exchange rates were unavailable—United Press.
Let US handle
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