WORLD
COTTON
MARKETS
New York, Dec. 13. Cotton futures today opened steady and closed firm.
Final evening-up operations
before its expiration in the noon
TRADE
THE CHINA MAIL, WEDNESDAY, DECEMBER 14, 1955.
and
COMMERCE
Fiji Launches Drive For Capital
LONDON IN SELLING MOOD
London, Dec. 13.
in the December delivery, Disappointing trade fi- hour, was the dominant trading gures combined with wor- feature. December went off the|ries over President Eisen- board holding firm at 34.48 cents hower's health and sabre- a pound.
After the spot months ex-rattling in piration, trading turned quiet East to put
Interest
The
Industrials
Investment
WANTS TO ESTABLISH LIGHT INDUSTRIES
By John Stackhouse
Suva, Dec. 13. Colourful, tropical Fiji, the British Crown the Middle Colony in the South Pacifle, has launched a drive
to attract industry.
traders in
were
hard
hit.
The colonial Government has promised tax reductions and other assistance to interested firmns and has completed surveys to describe the many untapped raw materials which are available here.
and the lack of selling pressure selling mood and drivo making prices sensitive
to most sections lower on the moderate buying orders. Trade
Stock bought
Exchange noarby London the months, along with covering by today.
in- some of Monday's seilers. vestment buying in now
стор months was attracted by their Fud-of-necount prodt - taking
pushed many blue chips lowerment geheine, designed to lessen the
The drive is part of a develop-correct the trade
balance with wide discount, traders thought.
Commonwealth. New Orleans office of with many American favourites
Fiji, 110 Cor- leading the downtrend. Unilever, its pressot three steple products: 000,000 from Australia in
the depo:dence of the colony on said, imported more than £F3.- the Commodity Credli
1952 poration has first opening bits will be con- bay. and Electric skiddied two old, rugar and vopra.
against £F4,000,000 from Eng- Cumercial experta here beland. But she sold back to Aus ducted on January 3 under the shillings, and Associated Electric',
lieve that beat Industry would tralia only £F1,500,000 worth of government's plan to sell around dogged more than one.
help to vary the very
£F3,500,000 and goods
sous against cushion the blow of a England. and redreline in prices of the three The Fijian pound is tied
ma export commodities.
sterling at the approximate rate, of £Fill to £100 sterling.
Fill offers conut oil to inak margarine, a variety of mineral:
心
announced
The Borax Consolidated.
million bales of collon over- at competitive prices.
35411
Hudson's
some Industrials rallied would
Meanwhile, trader will study JB before the close
the catalogue covering colton
stocks held by the government,
187,600
gated part of their losses.
Koina,
Correct Balance
Mai
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange tha morning amounted to $420,000. Noon quotations and tho merning's transactions. SHADES BUYERS BELLERS GALEG
BANKS
23 @ 1605
P10
10 a 016
H.K. Dank .. 1833 1700 INSURANCES
Union Lombard...
02 0011 $100 00
224
300
SHIPPING
to
Waterboat... DOCKS, ETC.
K. Whart.... Dock
....... 29.15 Provident (0) 14.40 14.88 Wheelock XD 0.10 8.25 LAND, ETC.
*
T1
300 @ 20,20
10
IK. Hotel.. 17.10 17.30
H.K: Land
(Ita)
500 C 1300
RUBBER
Trust
UTILITIES
Tram........ 2339
600 62235 1000 p 22.03
here
Yasinati Ferry 100 103 C Light (0) 23
2:30 2134
in-
01 com- hemp sub-
C. Light (N) 15,84 18.10
Electria
200 10.10
1500 10
20
500 2 2011
Telephone
I 321% 1000 a $2
A top Government official told spurt from guld, the newest and the that the colony hoped to sev
Important of which 15 rich fishing the untabishment of several lightanganese,
and industiles Fiji to lake, at-whaling offshore and a develop- ventage of Heal Fow materials cocon industry
Flut and perhaps build up an export
Zeland, Bie nearest
Month
De
MAT
43,300 47,700
May
32,700
July
44 000
Chet
$1,000
200
1.32.1X2
<>""
2,000
46,700
400
1
211 200
1,120,000 bajen
NEW YORK
34 7011
expired
Ods were mixed. Fractional Truding younes und open losses outnumbered the Interests were!
(although Royal Dutch advanced Open intervalou £4. Volume
37,100
British Government stocks 1:30 DOU
Scal- 517300
were mostly unchanged. 235.00
tered losse were held to £%
less. Guld
shares copper closed Пат buf un shares eased on profit-taking,
Foreign
bonds were mostly mariesta. selected Gennan Issues up as muh
£2. Japanese were strong-United Press.
and
09
I
Mar
Mny
Telai
Prices of futures closed today
us follows:-
Spot
Dec.
Mar
Mar
July
Oct,
Dec
Mar
May
NEW ORLEANS
23.43-44
313
29 64-RA
29 70
2044
29,27
Price, of futures closed today
as follow
Spot
Dec.
Mar. May July
Oct
Dec.
Mar.
Mar
33 DU
expired
33.36-37
$1.39
29 01
2000
9.40
20 24
colonial
officials
race with Australia and New Would like to see local
dustry making use major
modity such as ginger,
Abres. He said that the Government and offer aise would particularly welee Aus-lute for rafla, ir and kapak.
These all Investiment 10 help
New York Trading
Less
Active
New York, 13.
Stocks moved irregularly in less active trading today with industrials holding a Future closings, in pence per slight edge on the upside while rails
LIVERPOOL
lb. were as follows:
Old contract
Deo an
Mar/Apr
May/June July/Aug.
23.13 22.40
May/June July/Aug
22 40 270 24.90
OM INDV
10 0ე
Now contract
Egyptian Karnak Jan/Feb.
SAO PAULO
Future closings prices,
kilo per
cruzeiros
follows:
March
May
July
October
+
declined on balance.
There were wide changes in only 2 selected group with most leaders holding a fraction either side of the previous as
in traders held back awaiting fresh incentive
vau,
grow wild here and #s! prevent only gathered spasmodically.
American Firm
Lanci wald probably be available to plantations of any of these commodities, one ofBetul told me.
An American-owned firm here has opened up a large timber- cutting enterprise in the moun- lainous heart of Viti Levu, the
principal island in the Fijian group.
A Government spokesman sald
Perts
has
ex
that the Fiji Government available for lease another large tract of forest land which
believe would be sell- supporting. The tract is big enough to allow cutting over 25 to 30 years, by which time re- planted trees would be maturing for a second out.
There is much valuable timber in the island's hills, forestry
survey survey
here has disclosed.
The
is nearly completed
A. Rubber. 1.50 1.ATIS 2.41 2.50
INDUSTRIALS
Cement...... STONES, ETC.
Dalry Watson
Lane
Crawford
COTTONS
Textiles Nanging XD
900 m 2 £
34 31 300 # 34%
18.40 19.79
13.20 13.40 650 13.30
200 30
0.20 0.05
1000 V 7,85
MISCELLANEOUS
Allied XD .. 5.40 0.40
CHICAGO GRAIN
MARKET
Chiengo, Dec. 13. Cold weather over the grain belt, need of moisture in the southwest, small cash receipts at terminal markets and large pending export sales were be-
SECTION
WORLD SUGAR
MARKET
SKEPTICAL
London, Deo. 13, While the suger zanrket kaa 1109 been inpromed by the
Baianos
sheet dry wa up by the International Sugar Conn- cil at its recent meeting, the general resction on the whole has been favourable, As a result the. progres. alve weakening of sugar priots in the weeks prior to the conference has been halted around 13 points below the
"agreement" four, and during the part dour the Wock market on the whole has remained pretty steady.
There
considerablo critician in the trade here of the unreallly
of the statistical balance sheet.
Niza
chief criticism
18
the Council's disregard in the
of its
formulation mate
of the avaliable ex- ports In the coming' year of the non-signatory pro- ducing countries.
By reducing the export producers
Quotas of the
signatory to the agreement the Council has allowed by
But
In
a balance
tance of 524,000 tons an outlet for the BOD- signatory exporters, It is the general belle? sugar circles here that the Bon-Blanatory exporters in 1950 will have a tonnage
of at least 1,000,000 tons available—United Press,
Indonesia
Wauts Foreign Capital
Djakarta, Dec. 13.
Page
Former Axis Powers Make Big
Sales Gains
New York, Dec. 13.
Japan, Germany and Italy are making the biggest percentage sales gains this Christmas, according to a survey by the Journal of Com-
merce.
"British merchandise that generally "sells on its reputation for quality will make much smaller percentage gains this season than goods from Germany, Italy and Japan, but turnover will be outstanding as usually handlers differ as to whe- ther or not the value of this season's sales at retail of British goods will be higher than last year or about even.
comment
Excerpts of trade on imported Christmas goods:
UNITED KINGDOM – FOTO handlere said British goods are marketed on a quality appeal - not novelty but English
producers are placing
much reliance
a bit too
FBANCE-French goods aro muking a better showing this year with merchandising said to be much better.
Also
favourably mentioned by
from perhaps buyers were imports
other
countries, notably, Swedish ond. Danish silver textiles, In-
OF
tradition. This factor is not use
Items, Hongkong
good a selling point as it once dian handicrafts which, with was. It was sold that the their unique eppent are helping cashmere and worsted business to boost over-all retail sales was being cut into by other this Christmas well above last supplying nations.
year's."-United Press.
GERMANY-goods are being offered In enormous variety. Toys, Solingen products (not_ ably stenk knives) clocks, household articles and novelties are strong items.
ITALY leather bags are out- standing.
Silk and wool pro-
ducts are selling well, as are straw baskets, sandals, hots, leather
gioves, velvetcens,
among others.
JAPAN an enthusiastic buy- Ing house declares that cheap Japanese qual
(in the
sense
of
is a thing of the past. of many sorts, include full-fashioned ing
shorts, silpper sweaters for women, capslin socks and nylon stretch gloves are mentioned as fast-selling items. Silk scarves that in the past have been an active pro-
WORLD RUBBER MARKETS
New York, Dec. 13.. Rubber futures today closed lower with
65 to 135 points
sales of 210 contracts
the close under selling credlied'
The market weakened toward
speculativo account
to
havo
been holding fairly steady under forenoon. About 55 per cent of the trade was
dealer switching
The Indonesian Government duct are characterised by this. In the outside market, hos invited foreign investors buyer as a flop. Very good look interest in
buyers and dealers indicated to provide capital to "accelera e ing umbrellas are also on the inquiries dried up later when the forenoon, - but· the "Hoor" turned easier. Spot
hind the upturn in most grains; and on the Board of trade today.
Short
covering and evening up of Deecîmber" "contracts also
Armness in cash grains
for a continuation of the advance which closo-grained kauri pine, almost helped the markets, along with per cent of the capital in basic | lifted industrials to new highs last week-
were
as
220LEME
20 40
20.50
or reason for selling.
in the US the average prier 14 de- of 15/16 middling t signated spot markets was 33.00
totalled cents. Sales
42,549 bales.United Press.
New York Sugar Market
World
Now York, Dec. 13. No. 4 sugar futures closed today 1 to 3 points higher with mics of 291 contracts.
Guins of 2 points in General Curtis Wright Foods,
a point or so in Eastman Dion and Alkali
Dow Chemicals Kodak and Sears Roebuck Dupont de Nemours helped 1ft the industrial average Eastman Kodak 0.67 on the day.
El Pazu National Gas their retailed
Familly Finance Curp
in rails-off 0.72 in
inversSanta Fe fell 2 points, General Electric xd
CM-
Out of X1 total
1,180 issues
Genoral Foods
General Motors
Gen Pub. Thus,
Gillette Safety Razur Glidden Co.
Goodrich (F. Có Goodyear Tire
Heyden Chemical Homatake Mining Co. day: Ingersoll-tand
traded, there were 473 lower and 428 higher.
Trading lightened to 2,430,000 shures
from 2,310,000, yesterday. US and Foreign Securities, off more than 2 points on the day, Domestic No. O sugar futures
was the active leader, followed | Inland Steel Co. closed unchanged to 2 points by low-priced
ConInterchomical Corp. Benguet higher with sales of 47 contracts, solidated world raw market been in held unchanged, traders sought sessions. confirmation of rumours to the effect that Russia bought around gains, ranging
Aircrafts
200,000 tons of raws from the | HAL
points In North American, Kennecot: Copper Cuban Sugar Institute aroundrelling ex-dividend. Non-grett Meyers Tob. Co.
While the
be attractively under spot level.
This sugar
Int'l Business Machines which Mining
has In Harvester demand in recent International Nickel International Paper scored substantial Int'l Tel & Tol
John-Manville Co. to more than 3
Karaia C, Power & Light
Lockheed Aleerači
Lone Star Cement Co. Loulavile & Nashville IL. Lowenstein & Sons Morabl Iron Corp.
05 cents u pound, fob. That ferrous metals continued strong, Loews Incorp. price, traders reminded, would with Aluminium up more than 2.
current Molora moved narrowly.
Now York Stock Exchange would be for do bond volume was $4,510,000. livery next year, market
American Stock observers understood. This year, Russia-normally an exporter-
¡volume was 840,000 shares.
Dow-Jones understood to have pur- chased about 500,000 tons from were: Cuba Futures.
wns
Contract No. 4 (world)
30 Industrials
Minnesota Mining Mission Development Exchange Monsanto Chemical Co.
Montgomery Ward closing averages Motorola Inc.
Comm. future price Index.
National Cash Reg." Nailonal Dairy Prod. National Distillers 414.29 National Lead 102.78 New York Central
65.35
Olin Mathieson
172.30 Ots Elevators
10.25 Owen-Illinois GLARE 102.12 Pacific Gas & Elec. 16104 Pan American Airways
403.20 Paramount Pictures
Parke Davis Co.
Penny J. C. Co.
20 ralla
March
3.1 n
15 utilities
May
13.14
66 Blocks
July
40 bonda
Sept.
7.17
Spot-fornia per in. "fob
Comm. spot price Index
Cuba)
3.13
Moody's index ....
Contract No. 6
March
Closing Prices
May July Bept.
Penn, Belt Co.
B.47
Allied Chemicals
$11
Philip Morris
Spot-cents per Ib. elf NY
Allied. Milla Ins.
31
Philip Petroleum
Allis Chalmers
Procter & Gamble Co.
ex-duty)
8,30
American AirÜsto
14
Publicker Industries
-United ProSA
American Cyanamide Co.
Pure où ...........
Am. Mach. & F dry.
25
Radio Corporation
American Medal
Op
Republie Steel
American melting
Bo
时
hide futures at
1700 GMT on
Boeing Airplane "Burden. (The). Co.
Singapore
Stock Market
the economic development of the market, country and to boast national Production
A special Government In- nouncement said that both Gov- ernment loans
and private in vestment would be welcomed
that "attracave would be offered.
Foreign investors would be allowed to provide up to 49
Singaporo, Dẹc. 14, Brokers today quoted the industries and to transfer allfollowing stock prices; Formosu bought 865,000 profits abroad after payment of
Opening bushels of US soybeans today taxes, the announcement sald,
$1,70 The only industries not open from gult ports for for shipment suitable
during Deccinber through to foreign. Investment would Oficials here emphasise, how-
and exporters Jantry,
sold be publie uulities and crders have been small Industries 2291% ever, that industrial
develop ather large 834% ment for the Fijian market must placed for US wheat, corn, soy-considered traditional,
necessarily be smail at first. The
beans and tard.
Exporters also received word population is at the moment
Corp. only about 330,000 and expart
that Argentina sold 3,775,000ceived the announcement with Hongkong Tin Ltd. posedbilities have
bushels
whent 10 four
Kempas Ltd. hardly been
They said government Lunas Rubber explored.
European countries.
Wheat closed up 11⁄2 to off cent; soybeans (new) up of cent.
cut out in New Zealand, is still freely available here while some figure grained woods thought to be
2016 veners and plywood.
vs
47
21
24
tatal
231
91
a7
4091
Fil's Governor,
101
Keynote Set
SI Ronald
Garvey, set the keynote for the
drive for Industries in a recent seats
CLOSING PRICES Prices of grans per bushot
Deo. 212tk) zio(L)
ລັກ 2111
196
6315 speech n the Colony's Legislative spot
Wheat No. 2, red
574 Council,
401
"wish to state publicly that 30%
shall do everything in
01
117
Mar May my July power to ensure that the policy Sept.
0915 of the Government and this in Corn, No, 2, yellow
No. 1 R were quoted-nomin- ally at 474 cents a pound.
Futures:
March May
July September December
LONDON
43.43
30.55
37.50
36.00
34.30
The market was. quictly steady with spot quoted at 30% pence per b. Prices:
No. Ras spot. 3872-2016.
Bettioment house torm
British
which
certain We
Batu Lintang Rubber Co
Ltd.
Borneo Petroleum Syndicate Consolidated
43/
Jan
Ort.
With Reserve Foreign businessmen here re-
Tin Smeltem
Fraser & Neave Ltd. Ord. Traser & Neavo 75% cim.
grel
Feb.
30/
Mar
$1.70
Jan/Mat.
Apr-June
50.00
July/Sept.
Hongkong & Shanghal Bank-
General market, elf hasir
Dec.
0/34
Jan.
30-2011
$3.03
TCACTYO.
Estates Ltd,
$4,02
$3.42
Rubber"
TEXT
Petaling Tin Ltd.
$4.38
into
Rattler Hotel..
SZAB
closed today
$1.00
$27.50
No. 1 rubber
$23,00
No. 2 rubber
$13.20
No, 3 rubber
*1830
was at present in the hands of Malayan Breweries
cabinet and they | New Sarandah caretaker to doubted whether it could put · Lid,
the
necessary regulations
in operation-before its term of Singapore Cold Storage
olice
1
ended. Indonesians, who voted in their first general elections on September, 20, go to the polls -20011⁄2 | again on
on December 15 to clect Constituent Assembly which is to draw up a new constitution.
China Mail Special,
London Foreign
Exchange
cludes
1101
udes taxation
encourage
7149
023
192
1001
1 capital or the ploughing back of ye
profits already comed."
Omela! Government policy, as oxis set out in a bendbook for In-Dec. vestors makes these points.
Spot development.
Sir Mar. Ronald said. "We want to en- courage either investment of new Sept.
la to Dec.
May
July
Deg.
Mar.
1204
Mar.
New York
Boybeans, No. 2, yellow Spot Jan.
Montreal
Mer.
May
7414-241
248 277-2771/
Paris
Zurich
Stockholm
Six Points
1. A no company tax, normally Sept.
new company pays July.
Darley
ds 3d In the £1, on Its profts Spot
up to £5,000 If its establish-New York Bour, 205 Ib. ment is approved.
Taxation concessions on
Improvements are also granted.
BACK
130-141m
$13.40 WINNIPEG PRICES
Winnipeg, Dec. 13.
Anutertian
Brussels Copenhagen.
London, Dec. 13.
240-7/16-2,801% 2016-2.30 3/15 19.8774-10.03JG. 139.73-139.50 10.3334-13.333 $1.767-11.74
0.08-30.18 1780-1760
14.511-1452 122011-12.291% -United" Press
Prices of grain futures closed New York Foreign
tax is comparatively low today in Canadian cents.. per
-2.
depreciation and capital
10014
3. Basic personal Income
There
bushel as follows
01321
4. The **
Goverment has Onte given an assurance that it: will not pursue a proposal that dividends should be taxed in the hand of the shareholder.
Dec.
May
July
Eye
Dec.
*
Sinclair Oil
7144 Socony Vacuum
54]"; South Porto Rico. `Buger
1735 | Southern National Gas
141|| Southern Hallway (Cons.) 4854 Standard Brands-
2734
11116
5. Customs conecasions will apply to imports of in- dustrial and agricultural ma- chinery.
MERY
July
2067% 1104-11 100%
W
Barley
Doc.
May
July
sood
Dee...
July
Wheat,
Reynolds Metal
Shell Ou Co.
17035) Saint Beg, Faper
100%
US MARKETS-
HOLIDAYS
New York, Dec. 19.
The Board of Governors of
Am. Buxar Hof,
American To! & Tal American Tob, "D" Anaconda Copper Armeo Stori Armour
Commodity Exchange, Inc., today | Baldwin-Lama-Him.
voted to close the exchanga for
Baltimore & Ohio Bendix Aviation, Corp.
all business in silk, burlap, tin, Benguet Cons. lead, zinc, copper, rubber and Bethlehem Steel
Friday, Dec. 28 and Friday Burroughs Add Machine ad.
Dec. 80. United Press.
LONDON SILVER
PRICES
London, Dec. 18.
Canadian Pacific R. CASO (1) Co.
C. Lt Financial Corp.
Cat Tractor A
Celana Corp. Cham, Manual," Benic Chrysler Motors Colenta-Palmolive Co.,
The price of silver, was – Commonwealth
Consolidated
quoted, today at 78% pence per caminantal Oil of Del Tins ounce for-spot and 28 pence. Continental pael, for forward (uzainat dye and Corn Products "prop", yesterday) United Crabs Co
·Crown, Zellarbadia
Cuban ArtME",
50% Bandard Oil of Cal.
Standard Oll of Ind. Standard OU !of_N.J. Sterling Drug Co., Stokely-Van · Camp,
Studebaker-Packard, Cor Bwift&Co.
Toxas Co..
My Tide Water · Asins.
Twenty Century: Fox Film Union Carp
Union Facity.
United
6. Fiji Goverordent agen- cles will always offer help or advice-China Mall Special;:
NEW YORK METAL
FUTURES
New York, Dec Prices of metal futures today in cents per, as follo
'2001
Exchange Rates
Australia
Exchange
New York, Dec, 13.
so-day. futuros
New Zealand South Africa
India
Pakistan
LONDON METAL PRICES
andon Dec. 18
South British Insurance
Lid,
Straits Steamship Stratis Trading United Engineers Ord. Wearne Brok
• ed→→China Mail Special,
Estate Crope all unquoted,
AMSTERDAM
The market was quiet. Prices in guilders per
kilogramı, cif Jan, as follows:
No. 1' crepe
3.65 paid
3.00 pald 3.41 paid. 3.70 nom
Singapore rubber prices were
unayotable.-United Press,
Those
Christmas Gifts will look better Personalised
We undertake gold lettering on Wallets Briefcases. Hand- bags, Camera Cases, Diaries, Shaving Kits, Manicure Sets, Books etc., etc., etc.
Commercial enquiries also invited for gold blocking on small articles of plastic, wood, leather, raxine etc,
South China Morning Post Ltd.