THE CHINA MAIL, THURSDAY, DECEMBER 15, 195 Min
TRADE and COMMERCE SECTION
WORLD African Territory Turns Late Selling Hits
COTTON
MARKETS Into Boom Land SILVER PRICE
New York, Dec. 14. Cotton futures today maintained an overtone of stendiness as the market see-sawed narrowly in quiet dealings.
Traders estimated the volume smailest In severni to be the
weeks as routine domestic mill and other trade buying was sup- reduced hedge through plied selling and quidation.
Approach of the usual end-year holklay trading luit, and the dis position to await further deve- lopments in the
exskirt
and news on farm
picture legislation. help to handicap new interest,
Forward attention was directed particularly toward the govern- export cotton ment's
special
which becomes
Up, to
programme
operative in January.
million bales may be disposent of by the increases as
minimum
bid prices
to what
will be
receptable to the agency Ex-
The Nenu
York Cotton
change Service Bureau
Lorlay
estimated domestic consumption of all raw cotton for the four- 21 at week period ended Nov.
bairs
compares This 720.000 with 737.000 bales used in the preending four-week period and 704,000 bates last year.
Indicated consumptum for the Use scasoti first 17
wreks July 31 to Nov. 26- approxi- mated 3,054,000 bales against 2,800,000 bales a year varlier The certheater cotton rose 858 to 18,538 balen.
Volumes and
stock
open
interests
WITC
Mont
Volume
Dee
300
Open Filetom!
10,400R
Mar
200
443,000
Mas
24 IN
530,100
บริจ
23 ALU
2303
200
1.000
Mar
4/13
10 4X
נינן לוקו
RAILWAY DEMANDED FOR SWAZILAND DEVELOPMENT
Mbabane, Swaziland, Dec. 14.
Swaziland, one of Britain's Protectorate territories in South Africa which the Union Government wants to absorb, is now becoming a rich asset for the Commonwealth through new agricultural and mineral de velopments.
Large sums of money invested in irrigation schemes, new industries and geological surveys in Swaziland since World War II have lifted the territory out of dependence on British Parliamentary grants and made it self-supporting, with balanced budgets since 1950.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this morn- Ing amounted to $310,000. No
the morning's Quotation Transactions:
ARAKES DUSERB NELLERS SALES HANKS Z
Ik Back INSURANCES
Uniory
It +4+ 72030
three territories by Art
tha
7734
pros-
project Another Irrigation pronalas f the bringing life and food to more is Swaziland administered of undeveloped
not far South Africa, the Malkerns Scheine, 11
This pro The other two. Basteland and from Bremersdorp. lechunnaland, are still largelyject, belleved to be the largest
scheme private irrigation balanced by British grants.
British southern Afrien, taps the Great The second smalles
In Afrien after Umrtu River,
оли
the largest river dependency
6,700 in southern Africa south of the Swaltunds Carbin
area smaller Zambest, which rises in South squive miles, un
appear
tion Wales.
UP AGAIN
New York, Dec. 14. Handay
Harman, dealers, today vallion raised the price of silver 0.59-cent to 10 cents a Ane auxco.
Thin
first marks the change in the price of the white metal since Decem- ber 6, when li dipped 0:34- cent, to 90.16, and brings the price to lia best level since November, 30.
P
The December 6 reduo- tion ended a round of fivo price
within changea nine-day period, four cuts und one boost.
reflected • The cuts seasonal decline in demand for silver and the increase resulted from an insufficient supply to mooi demand să the lower price.
In
151
rose
pence
London, spot allver penny today to 181⁄2
United Press,
Page
WORLD RUBBER
New York Stocks MARKETS
New York, Dec. 14.
Selling hit stocks late today as it has in the past two sessions, cutting more than $1,000,000,000 from overall market valuations,
76
New York, Doc. 14.
Rubber future today closed
to 125 points higher with al of 210 contracts..
The higher trend on the ter- minal market was associated with higher than expected
London cables and trade cover-
In
The decline was not under pressure, but more exploratory in nature as traders sought levels at the spot market, dullness which new demand will develop after last week's rise to all-time highs in the industrial average.
for
Diggest losses enmo near the Publicker luduntries
Pure O close. Even aircrafts, which
Radio Corporation strong on President Republic Steel had been
recommendation | Reynolds Metul Eisenhower's
an increase of $700,000,000 Shell On Co.
Saint Iteg. Paper in defence spending, came down Smelale On from the highs at which gains Socoy Vacuum
more than 3 Soul Porto Rico Bugar had runged to points 113 North American Southern National Gas
Southern Railway (Com)
Aviation.
North
more American heid
Aircraft and than 2, Temeo
cach. point United around Boring and Douglas, bowever, Jost small fractions and Glenn anali Martin
only D was up fraction on the day.
destined Africa and Bows east through CHICAGO GRAIN & Tube nearly 2, IS Steel a
to Portuguese East
for striking retinomic develop Swaziland inents soon, matching the ex-Africa and the Indian Ocean. ploitation for sometime under- the neighbouring way bederlands of South Africa's Natal und Transvaal provinces.
121
Soon Justify
14:xs
30-
Mining Revenue
recent
much
surveys give greater
Ju-
MARKET
on
Chicago, Dec. 14.
wheat Soybeans and nearby contracts held arm
the while Board of Trade today, profit-taking put other grains Irregularly lower.
Chrysler Loser 2
in atcels, Bethlehem more than 2, Youngstown Sheet
fell
point.
Chrysler lost nearly 2 points. General Motory a small fraction
in their group.
Standard Brands
Standard Oil of Cal,
Standard Oil of Ind
Standard Oil of NJ. Sterling Drug Co. Stokely-VanCamp, Studebaker-Packard Corp. Swift & Co.
Texas Co.
Tido Water" Assn. Oll
Twenty Century Fox Film Union Carbide Union Pacific Railway United Aircraft
U.S. QypUni
S. Line Co.
U.S. Thibber U.S. Smelting
US. Steel Warner Bros.
Westinghouse Electric Woolwerth
continued with a small tonnage
Including sales of January one choots A 44 cents and February Spot one shoots at 481⁄2 cents. No 1 Res were quoted at 471⁄2 49% cents a pound. Futures,
$23
44.25
40,25
30.78
35.75
4916
March
3115xd
May
616
July
Sept.
Br
Deo.
00
276
SINGAPORE
34%
100%
DI
4
After being steady the market
lack on
of oased 50% Future closings were: No. 1 rubber per lb. Dec.
support.
1274-120
Jan.
12612-177,31
10
Feb.
No. 2 rubber per tb. Dec,
117/4 No. 3
15314~12432
No. 4
115-116%
3316
Spot rubber unhaled
12734-12
Blanket crepe
08-100
13895-14015.
LONDON
ROT
183
05-96
120
United Prea
4033
No. 1 pale crepe
The market was barely steady
87 with spot at 38% pence per Th.
874 No. 1 Ra spot ....
Prices:
5095-36
471%
Settlement house termi
Jan.
Feb.
Mar.
Jon./Mar.
Apr./June
July/Sept.
General markets, cli
Dec.
Jun.
Feb.
Rell losses ranged to nearly 3 London Foreign
more.
points in Southern Railway. Union Pacific. Santa Fe, Dela- ware and Hudson lost a point or Outside the average of group, Texas & Pacle declined Brotters reported selling
follow-more than 3. distant wheat futures ing word of snow overnight in
southwest and industrials were down 3.45 on parts of the hedging in corn futures on the arrival of 111 ear of the feed grain here today.
Measured
The averages,
by
the day: Rails 1.30 and utilities 0.31.
Twenty miles of main canids varry its water to lands giving bumper crops of rice and pro- mising large harvests of citrus and sub-tropical frull,
has Swaziland Swaziland farmers unl
In mining. long derived considerable vestors, hope that the new era
World War since
venue from its rich Havelock opened
where umuat thriving
experimental with
Asbestos Mine, fubd erous,
miles mony
of production is now valued
about £2.300,000 sterilng. But maturing pinewood plantations mineral
pronise extensive and
mineral deposits located, will soon now rec
wealth. Justify the territory's long de-
50,000,000
Japan bought large quantities Deposits of some mau for a railway.
iron ore, of US white wheat today, along Swaziland's new prosperity
amounts smaller une of the best iron with perhaps follows new British parts and tons of high grade
the Belde in southern Africa, have Canadian and Australian wheat, Anancing to try to make
scheduled Swaziland's found On British-run territories in South been
but postponed
pur- Africu
for
of barley until a later themselves.western border with Transvaal, chases pay
word are to be the
province date. Exporters awaited Economic resources
South African
as much on offerings to Greece of three- revenue Nearly three times exploi.ed to increase
01 bushels
US hard Improved standards 22 00
and bring
low grade ore has been traced million of wheat. for the inhabitants.
and some 50,000,000 tons nd already
has two coal as well. Gold and other financed min
also
Pending export business also minerals aro
with
large amounts of soy- were: hydro-electrle includes territory.
Formoso, smaller 20 simultane-beans
30 industriais power possibilities
amounts for Denmark, Norway 20 ralis Dusly under survey.
10 t'ties Western Germany, and Rallway communications now and
63 stock for the pro- million bushels of bread grains 40 bond become essential
exploitation
5
AL
SHIPPING
Watearen $26.
ETU
K
Wimal
tailed!!
07 exch Provident 147, 1400 14 TO 1500 Wir h XU 10 8 20 LAND Kit
0
1
.. 14TH
verita
HK Hotel
17:20
CANG 30
100+ 17 au
4033
185
1.90 10000 16 1 05
22.50
1444 2 TD
200
1000 m 22.70
130
ΟΙ
100 103
00 + 101
Moy
Total
*--include
which tiers
1.02 201
44 10
12.300 1471 150 bate
Tales 10.0***
BRUA
bech hay
Teaving no balance.
NEW YORK
Prices of tutures closed today
as follows:
3 B30
HK Land
A Rubber
UTILITIES
Tran
Spot
Mar
Мду
July
Oct
Der
Mar
May
NEW ORLEANS
88888
BRIHEPER
Runni
Trust
33.40
31
9
Star Ferry Y'all Ferry
73
C
Electric
Tulebode
Prices of futures closed today
as follows:
Sport
Mar
Moy
July
Det.
Dec.
Mar
May
LIVERPOOL
ជនន៩ឆិឆិឆន្ទ
41-42
32383628
34.04
74.40
23.10
22.30
Future closings, in pence par
lb, were as follows:
Old contract
Dec/Jun
Mar/Apr
May/Juar
July/AUR.
Now contract
May/June July/Au
Oul./Nov
Egyptian Karnak
Jan./Feb.
SAO PAULO
1.20
39.05
Futuro closings, in cruzeiros per kilo were as follows:
March
May
July
October
11ht IN 15.06 18.10
Light SO 211 21.10 8300 21.60 enterprising schemes
by the British Colonial Deve- In one lopment Corporation, afforestation and the other food with crops and entile raising an ambillous
INDUSTRIALS
Corrent
STORES, ETC
Dairy
Watson
3915 39.26
600 100 + 32%
32
600 от 12 500
32.25
34 349%
14.30 10.60
13 20 3.40 1500 13:30
OTTONS
Pextile Cop 6 70 5 po MISCELLANEOUS
600
Y
MİRZD
Allied
now taking shape,
timber-or possibly moking including
0.40 6.55
are expected
Singapore
Stock Market
Singapore, Dec. 15. Brokers today quoted the following stock prices:
Batu Laniang Rubber Cv.
Ltd... British Borne Petroleum
Opening
$1.05
42/06
Syndicate Consolidated Tin Sinelters
Ord. 21.00 28.75 Fraser & Neave Lad. Ord. $1.70 21.00 Fraser & Neave ou
29.20
prof. *** Hongkong
Shanghai
Lid.
In the US the average price Banking of 15/10 middling cotten at 14 Honalong ful
was Keinpes Ltd.
Lunas Rubber Estates Ltd. totalled Malayan Breweries
New Serandah Rubber Co
L44.
designated spot markets 33.05 cents.
Snics 34,903 bates--United Press.
LONDON METAL PRICES
The tin
London, Dec, 14.
coster market was this afternoon. Other metal markets were steady but quiet, Prices closed today In
per long ton as follows:
$6.00
1890 J/- 11.02 ed $3.70 d 33.37 xd
10 COYOT
BAW
been
In the
Exchange
New York, Dec. 14.
.............. $1.00 1718 2.00-7/16 England official
Canada
Unofficial
Do-day futures
New Zealand
South Africa
2.04-2.00 2.20
2.7010
2,80 10/10
London foreign exchange rates
650 were unavailable.
-United Press
Estate crepe nil unquoted.
AMSTERDAM
The market was steady. Prices closed today in guilders por kilogram, clf Jan. as follows:
No. 1 rubber No. 2 rubber No. 3 rubber No. 1 repo
3.35 nom. 331 non 345 nom 3.70 non
United PreERS,
Queen's Building
Tel: 26851
MESSAGERIES
MARITIMES
P.O. Box 53-
FAST PASSENGER/IREIGHT SERVICE
.Sailing Dec. 81rt Jan. 28th Feb. 25th
FAST FREIGHT SERVICE
Sailing
traded Of 1,204 issues were lower and 300 higher.
02
US & Foreign Securities was the day's most active issue.
Stock American On the
U90,000 Market, sales toiled shares.
Bond volume on
Stock Exchange York $3,540.000.
Dow-Jones
the
Now
was
47.84
closing averages "VIETNAM"
"CAMBODGE” "LAOS"
101.40
45.04
171.00
99.10
181.00
403.90
"MONKAY" "DONAI"
Closing Prices
Allied Chemicals
Allied Mills Inc.
3415
All Chalmers
GUN
American Airline
215
American Cyanamide Co. Ain. Mach &
dry.
PENINSULAR
24
Alacritas Metpl
50%
5271
1702
112
70%
plan irrigation
of all these to Nationalist Chinu. The latter comm. future price index by the new developments. Pino forests planted
Talks, award was granted by the Inter-Moody's Index
Adminis- on national Co-operation going Colonial Development Corpora- which have
21 contract period for
thetration with Swaziland
between tion in
intermittently paper South African Government and of December 16 to March 31.
It also was announced today British High Commission newsprint-
the
by Secretary of Agriculture Mr in South Africa respon- 10,000
offices
that the goy- acres by the end of 1956, one sible for Swaziland, about rail- Ezra T. Benson
corn, to Swaziland ernment will add wheat, of the largest plantations
rice and dry beans to the list recently Southern Africa.
26 years, were
of surplus commodities to renewed."
Kiven nway to US welfare agencies for relief distribution Mr Benson also said overseas.
bo wheat and com now will Available for donation to school and lunch and other domestic welfare programmes.
This is part of some 200,000 acres set aside for afforestation in the territory of which over will ultimately three-quarters curry pines draping long ranges
barren mountain of with cool dark green forests.
way extensions for
Other Ideas
ал
One Idea is to extend
from Inc slopes Eastern Transvani
34 at Lothair, its terminus miles to the Swaziland border, Modern Miracles while Swaziland carries it an-
*
B.
Wheat closed off 4 to 3
14 cents; cent; soybeans oft Its soybeans
CIT [W cents.
24 to 19%
..
CLOSING PRICES
uther
miles inland to 22
near Bremersdorp,
This line hub. Another of southern Africa's Polist
io plantations
new to the largest timber
pass closo A Swaziland' by
the operated in
and serve Irun deposits who are in- private company
Colonial Development Corpora-
Prices per bushel in cents: over £2,400,000 ster- tion's vesting
great
36,000,000-piretree ex- ing in pine trees grown
ready Wheat No. 2, red
2150 forest, which will be
Sput core or veneer clusively for
for marketing in a few years.
Dec. 2121 (11) 2104(L) A tho Mar.
2003-2 board, produced from chipped
Other ideas are to take
20516 wood which will be sold in
ils July
19515-5 197 Britain as well as South Africa. Transvaal extension right across May
80 miles of Swaziland to castern frontier to link there Sept.
East Corn, No. 2, yellow with the Portuguese African line at Goba for a sca outlet at Lourenco Marques, or Dec. to join with the South African Mar Gollel July I are almost modern miracica. Natal province line at Fields of wheat,
rice, sugar, in the southeastern corner of Sept.
the for access groundnuts, potatoes and pine-Swaziland 12.30 xd apples
thrive where, scaport of Durban. Swaziland's few years ago, there was only progress
decision demands a virgin bush.
acco-China Mall Special. encouraging
have these
that the been experiments Colonial Development Corpora-
$1.85
Petaling Tin Ltd.
names stei
$155
xd
Singapore Cold Storage
$1.60
South British Insurance Co.
Ltd........
$71.60
Straits Trading
Straits Steamship
$13.10
United Engineer Ord.
Waarne Bros.
China Mail Special:
Exchange Rates
0175 unofficial
sterling
buyora
sellern
Tin spot
032
033
3-montiu
817
Copper spot
4m
3-month
Lead 1st half Doc. 112%
Mar, 112
113 113%
Zine 1st half
Dec.
0714
-United Press,
051
The process is a secret Ger- man development.
Food crops grown in Swazi
experimental irriga- land with tion schemes since World War
now
to
Spot
May
done in the local ons nancing a dam or weir New York Sugar Soybeans, No. 2, yellow
Ryc
Dec.
Mor.
Oats
Dec. Mar.
Market
Spot
Jan.
Mar.
1.80 growing scheme ultimately covering 100,000 acres of developed bush country.
un
New York, Dec. 14. World No. 4 sugar futures Sept.. closed today 2 to 3 points higher with sales of 22 contracts,
May July
Barley,
Domestic No. 8 sugar futures
spot
this across
the Komati, River in
of corner northeastern 8.32 the 10.22 Swaziland to supply n 40-mile 12.30 canal
to irrigate being built
food 25.70 some 30,000 acres of a
Business was
exchange market 40311⁄2 | morning at the following rates:
V.9. dollar (per $1).get Sterling notes (per 23)..... Australian notes (per 1) Domshan rupiah (per 100) 15.50 Slam tent (per 100) Singapore (Straits)
Good News Enlivens
London
Market
engineering London, Dec, 14,
Food Supplies
Construction on the Komati
closed, 1 point higher to I New York flour point lower with sales of 33
arts: contracts.
In work raws, some dealers
River weir is due to be finish- felt the
reported sales of
200 lb. sack
American Smelting Am. Sugar Her..... American Tel & Tei American Tob. "D" Anaconda Cupper Armco Bleri Annour
Haldwin-Lima-llam. Baltimore & Ohio Bendix Aviation Curp. Benguet Ch
Bethlehem Steri
Boeing Airplane Borden (The) Co.
Burroughs Add Machine
Canadian Pacifle n.
Case (J. 1.) Co.
C. I. T. Financial Corp. Cat, Tractor
Celance Corp.
Chinac Manhot. Bank Chilo Copper Chrysler Motors Colgate-Palmolive Co. Commercial Credit Commonwealth Eire. Consolidated Exxon Continent Oll of Del. Continental Steel
Corn Products Crane Co... Crown Zellerbach Cuban Amer. Sugar Curtis Wright
Diamond Alkali
Eastman Kodak
El Paso National Ga
Eric Balanci
Family Finance Corp.
130
120-4-126
1304;
1831-1
133
136-130
Dow Chemicals
Dupont de Nemocra
110
118
066-04
08%
Gen. Pub. Ut
236n
537
230-35
·24016-36
130-140n
$13.50r
United Press.
WINNIPEG PRICES
Winnipeg, Dec. 14. ed towards the end of next 200,000 tons of Cubans to Russia
·Prices of grain futures closed. your. The canal, 30 feet wide, at 3.06 cents a pound, for
next year. will be
may today in Canadian cents per ready in 1957. On its delivery way to the Corporation's lands, foreshadow a larger Cuban crop bushel as follows: shary also wore it passed through: Swazi native in 1956.
also benent.
sentiment has Oste Up to now, areas, which will
Food
for the
terri-
been that Cuba, would restrict De
May were mixed fu
supplic
Increased through the new. crop to the same level sur quarters brought a firm quiet dealings. Canadian Hagle tory trization schema and sure as this year Futurea)
Hye A fakturm undertone to trading on the was
and closed, the
Contract No. 4 (world) pluses for export produced. London Stock Exchange to-higher, gr
Africarts will be taught how support Gold shares found
Stay. day, 5
and moved ahou Coppers to extract higher yields from
July lands Improvemente in Britisha ni ware, popular entirely their own
Good news from varied popular.
Oil shares
gold and dollar" positions, plug German Pota hands stood Part of the shane embraces good news from other quart
considerably, Industrial
khead sono @shilli
out in the foreign
of me 6,000 on cattle gaer occupied ir Jobeunder the quarters village for the wheme,
the ranchin 2,000 natives are.
Deo
May.
5.17
May
General, Electric
General Foods
General Motor
Gilette Safety Raz
Glidden Co.
Goodrich (0. F.) Co.
Goodyear Tire
Heyden, Chemical
Homatake Mining Co.
Ingersoll-ftand
Inland Steel Co. Int
Business Machines,
Int Harvorter International
International Paper
Inta. Tel & Tal
John-Manville Co.
X C. Power & Light
Kennesatt Copper
Liggett Mayefe Toh.
Lookheed Aircrart Loews Incorp.
E
Lone Star. Cement Co. Zoulwville & Nathyllo R. Lowenstein & Scors Besab Iron Corp.
Minnesota Mining Mission Development Monsanto Chemiesi Montromery. Wurd
70% Motorola ine,
78
T
National Coal Ilog,"
09 National Dairy Prod.
National Distillers
loags: sitional Lead
National Steel Corp. New York Contrat:" Mathieson
Our Elevators Owen Illinois' Glam
dis:Pablle: Waltern Oll-
Pan American Airs Páromdink; 1 telur
4836
1003
F
to Marseilles
Jan 18th
Feb.
to N. Atries/Burepe
BLD
QUE NOS SEPARABIT
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CANTON"
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
Friday, 16th December, at 12.00 noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden & Port Said,
Passengers are requested to send ALL BAGGAGE to the Hongkong & Kow- loon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE, by Noon on Thursday, 16th December. SPECIAL NOTE: With the exception of hand packages carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.
EMBARKATION: Passengers should embark between 9.80 and 11:00a.m. on Friday, 16th December, 1955.
XMAS BLANKS
There is still time to order Christmas Cards for Hong Kong friends with your own personal greetings and name printed. We have a splendid selection of die- stamped Christmas Blanks depicting traditional Yuletide scenes suit all pockets.
Minimum order 3 dozen.
SOUTH CHINA MORNING POST. LTD.
Printing Depar
Hồng Kong
Toon