THE CHINA MAIL, WEDNESDAY, DECEMBER 21,
1955
TRADE and OMMERCE SECTION
Page
South African Business Conditions Remove Artificial
SHOULD REMAIN
BUOYANT
DURING 1956
Johannesburg, Dec. 20.
Business conditions in South Africa are expected to remain buoyant during 1956, according to the Associated Chambers of Commerce of South Africa in a newsletter to members.
says:
WORLD COTTON MARKET
Now York, Dec. 20.
In one of the slowest sensions of the year, cotton futures today settled back irregularly after a steady start.
Plane Manufacturers HONGKONG
New
Highlight
York
Market
New York, Dec, 20.
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchango this morning amounted to $380,000.
ing's transactions;
Aircraft manufacturing issues highlighted a the list ruled 22 generally mixed and moderately active stock mar-Noon quotations and the morn points lower to one point higher.ket today.
At the close
The narkot opened off 8 to up New Orleans closed
Commenting on investment expenditure, the newsletter
capital "Expenditure on development--one of the main determinants of points. the level of business activity-may well take off 4 to 22 points.
reduced rate in place next year at a branches of the economy, including the new gold mines and uranium extraction plants.
WORLD RUBBER MARKETS
"
New York, g Rubber futures today cloted 40 to books Jower wlis mele, kul 217 contrac's
Pro-ho!uday
year-ui.d
evening-up operations provided the main interest in the femina! market.
Dea er
Intrn-swilebing
# -|
cou ted for about half of this trade Exchanges in briel May- March at 340 pour: July-May 190 and Sapt-May 350 pets.
In the spot market, a small busines: Included January three sheðis at 44 vente qua datanrɔ, four chee's at 1014 cuts pound, landed. Spot No. 1 H
4740 quoted nominal Furires
WELC
March
May
July
Sedl
Havi
SINGAPORE
Cents,
44.40 40.93
10
37.30
F
many
cotton stock The certinested rose 132 to 18,033 bales,
Traders side the lack of in- the oncoming terest reflected
orders of
Gains in the aircrafts at the close ranged to more than a point, Industrials finished a few Rail- conts higher as measured by the averages.
| road equities were down slightly.
MARKET
There was very little in the day's newa to sway prices
ther
However, the holiday season seems to prevail in Wall Street.
General
the Motors topped inost active list. The stock closed with a loss to $43 44. Boeing was the leader in the aircraft
way. d the CHICAGO GRAIN "Investment activity may la-year-tud holidays eren in other Aelds, however, position to awa.t the recovenint 13 January, when te meet the expected increased of Congress demand from a growing labour farm legislation is expected to
ong of De flest force enjoying a rising standard be
Desplie u o living.
recent business, eleckening In the demand for machine tools and other itmes Fef capital equipment, it is likely that the expansion and moderni- the dose. Tary will continue exi part by the competitive affect of factory modernisation and labour-saving installations faking place over-
Fridustries
Бейв
mulated in
"No marked chungo in com~ merelal and Industrial inven- torina is experiod.
Building Activity
Building wetivity should con- tinue at a high level. The value of bulleting plaus passed, for residential and non-residential buildings, has been running al slightly higher levels than ouring the coresponding months
year.
"Production of electric power expanding rapidly. The installed capacity of generator of the Electricity Supply piant Commission at the end of 1954 30.00-19 was 2,000,000 KW, and at the me date 930.000 KW were under construction or on order. the year 1954 152,000 The markel opened steady During
lower. KW capacity was used. From demand for with fair
In the afternoon, the these figures it is reasonable to grades. market sagged with little inter- deduce that a considerable par- tion of the capacity under LOL. Futures:
construction or on order at the end of 1054 will be in process of 121-120 120-27: completion next year. unquoted
"T30 expected high capital 120k-12424 123y-lzite, expenditure by the Rallways, as 110-Itap
well as other Government de- 72042-4454
should 00-100
be in im-. partments. 138-130 portant influence on the general volume of investment next year"
No 1 rubber per Pa
Jat.
Mar
No. 2 liber per 19 Jan.
Kr. 3 rubber per i Jan
No. 4 rubber per lb Jahan
Spat rubber unhaled
Hanket pe
No. 1 prie ciepr
LONDON
The market Was quietly steady with spot quoted at 371⁄2 pence per lb. Prices.
No. 1 Ras spoi
37-37
battlement fuumo termi
Feb
Mar
Apr/June
3071-9071 3616-309% 35-334
July/Sept.
Def/Dea.
21-321
301-3614
General marketi, eif basia, porta Jan. Feb. hatate crepe thin Jan. 391
AMSTERDAM
Interest Rates
But shortage of capital, suys the newsletter, and a tendency for interest rates to rise, roay limit capital outlays.
Chicago, Dec. 20. Business meanwhile WAS Most grains weakened on the mostly of professional origin., Board of Trade today after the Routine hedge seiling and pre- government's December 1 crop holiday liquidation was taken report showed higher-than- up by the brokers who bought, expected estimates on wheat Marca and May against
ues and soybean production, of July and later deliveries in
Was months.
shown
sales
the
In
forenoon. Little interest Liquidation of December
in the now crap { contracts also wis a factor
decline as this was the last trading session for these private 2:4male | grein deliveries, Win running closer to the seven mil- bale mark, solisticians Iton
#)
On
Dealers said demand for crude
Interest soybeans oll continued strong. refce:ing prospects of the sale of eight-million pounds of refined off to Greece on Thursday,
Open InterEAT
338828
A few of the high-priced oll shares managed to display considerable amount of strength, Gulf Oil improved a bit and Standard Oil Co. NJ moved up 1% points to $151 .
Westinghouse out in its section.
Electric alood
Of the 1,189
SHARER BUYERS SELLERS BALES BANKS
HK Bank .: 1720
Unloo
201730
INSURANCES
235
Leanbard
33
DOCKS, ETC.
K. Whart
се
70 20.30 2011
Dock Wheelock
LAND, ETC.
1K Hotel ItK Land
RUDBER
A kutser Thut
UTILITIES
'I ZA
Star Ferry
B.30 1.40 2000 1.30
קי י
0145 073
1.9J #3000 2.79 2.1 303
13
2.73
23.40 23 70 232
2315 1409 23.40 100 130
Y mati Ferry 101 104 100 or 102 C Light (0) 221; 23.03 700 në 14.00 1600 22.30 17,80 C. Likhs (N)
415 3 10 41% Telophaire INDUSTRIALS
Centon!
issues traded, 510 finished STORES, ETC.
lower, 398 advanced held unchanged.
and (8 Baky
Bajos today totalled 2,280,000 shares, compared with 2,380,000 shares yesterday.
New York
Block Exobange
bond volume was $3,822,000.
American Stook volume was 1,020,000 shares.
Exchange
Closing Prices
| Alden Inc. Acy
Allied Chemkamin
Allied Milia Inc.
Wheat closed off 1% to 13,Alle Chalmers rents: soybeans new unchanged $10 off vent,
CLOSING PRICES
Prices per bushel in cents: Wheat No. 2, sod
13012
j
Exporter old
curgo gured on a tightening supply white wheat to Koren end two
hereafter, although cargots situation
of grain sorghuma to the marke Norway and were awaiting word skeptics doubted immediate rallying power in from Brazil on offering of two- disposal million bushels of US corn and view of the
surplus scheduled
to get four-million programme
barrels
US ♡ under way right after the new year.
of
lard.
Volunte and open
were:
Month:
160
Volume
7,000
Mar
8,100
420,000
May
J6,000
12,400
240,300
Oct.
1000
100 200
Lage
2,3000
130,200
47,000
May
200
12.400
Postel
$2.004
1.800.300 hales
NEW YORK
Spul
Price of futures closed todny LB follows:
Dec. 2014" 203 (L)
Mar
May
July
$100 201
20346-94 1941
2014-200
Spel
35.000
Sept
196
Corn, No. 2, yellow
Jala
Spot
128
G
Dec.
124-128
11:4
01-00
Mar.
1287-11
May
1312-15
May
July
Bept
NEW ORLEANS
Rje
Dec.
Mar.
Prices of lutures closed today
Oats
as follows:
Dec.
Mar.
Boot
PS.ME
314-70
Spot Jan.
July
33.25
Mer.
Out
Dec.
*9.0:
May
ሉ : ኒ..
29.30
July
May
29.20
Bept.
Baricy.
LIVERPOOL
Sput
130-1400
200 lb. seçk
$13.00
Closings, in were as follows:
Ok contract
pence
per
ib.
WINNIPEG
Dec/Jan.
Mar/Apr May/June
23.80
Prices of grain futures closed
Canadiari toctory in 23.20
bushel as follows:--
conis per
22.65
Onto
May/June
21.09
Doo
July/Aug.
May
OGL/Nov.
24.00
July
Egyptian Karnak
28.70
Ryt
Dec
SAO PAULO
May
July
Fulure closings, in cruzeiros
Barley
Dee.
May
90,00
Ju13
20140
Flaxseed
$8.50
20.80
May
be should Captial Inflow estimated conservatively; it was only of the order of probably 50-3015
10 millian net during the first eight months of this year.
Readjustment of interest rates sumulate BOXO upward The market was steady. Prices closed today in guilders per kilo-movement next year, however, and the loan of £18 million to G11 the New York De ruised market and from the Interna tional Bank many result in an Creasca toai capitai xullow for 1950.
gram, cif January as follows:
No. 1 rubber
No. 2 rubber
No. 1 rubber
No. 1 cre
3.46 nom.
3.12 buyers
3.40 nom, 2.70 nom United Prem.
LONDON METAL
PRICES
, London, Dec. 20.
may
July/Aug.
New contract
South African products are un-per kilo were as follows:
"Falls in the export prices of
likely in view of the continuing! high level of economic activity
in the main overseas markets...
and the USA
the United
Kingdom.
Marcit
May
July
October
In the US, the average price of 18/18 mlddling cotton at 14 "The volume of merchandise designated spot markets
con- $3.75 cents. Sales totalled 30,- Other metals were also steady. Imports, particularly
The tin market was steady.
Prices closed today in stering, sumer goods, influences the level 485 baien-United Press. per long ton as follows:
of consumer spending both direcBy and indirectly ---- in-
buyers sellers directly because a forger variety
Tin
Hot
400
3-month
304
Sut
choice of gods in the stones tends to stimulate consumer sponding generally not only en imported, but also
on Bouth
Lead 2nd half
Airken goods.
Dro."
213% 114
Z 2nd half
Import. Quotas
pec.
Da
De
*United Prosti.
Mar.
WAS
Singapore Stock Market
1314
1182-4 1169-191
03.00
545-7
Soybeans, No. 3. yellow
New York Hotır
239-240 240
103%
721
981
3
C
230-23114
July
Whest, No. 3, northern, 10071⁄2 cents; Na. & 123 cents,
---United Press.
New York Sugar
Market
New York, Dec. 20.
American Airline Auneriem Cyanimide" Co. Am. Much, Mc Fdry American Metal
32334
Walsot
COPTONS
33 33 2030" 33
2015
18.00 10 30
000 7 10 200 14 10.10
13 13.00
Texili Сыр 3.60 0.03
MISCELLANEOUS
Allied 0.40 5.60
الها في المان
London Foreign
Exchange
A New York
Montreal
Ammlerdani Brussels. Frankfuri
241
6014
Labon
B246
Milan
American Tob. "B
American Emelting American Tal, & Tel.
19 Pars 1789%
Stockhol
BO
Zurich
+ Adecundh Copper
Armeo Steel
Armour ***
Laki-Lalivo-Ram Baltimore & Ohio
Benguet Con
| Bethlehem
Steel
Chording Facido R.
\03 (TC) DEKİ |
cất. Socior
Celanese Cory. Chile Copper
Chrysler Matora Colgate-Palmolive Co. Commercial Credit
Commonwealth Fięc,
Consolidated · Elson
Crniinental Of of Del. Continental Steel
Corn Products
Crown Zellarbach
| Cuban Ainer, Sugar
Curtis Wright
Diamond Alkal
Dow Chemicals
Dupont de Nemours
Eastman Kodak
Pao National Cas Erie Haltrond
Family Financo Curp. General Plectric. Generi
Foods
General Liaturs
Gen. Pub. Utk.
Gillette Safety Razor"
Glidden Co.
Goodrich (B. F. Co.
Goodyear Tire ...
Hayden Chemical
Homatske Mining Co. Ingersoll-Rand Inland Steal Co. Interchemical Conchines Int'l Business
Int'l Havation
International Nickel Int'l Tel & Tel
Karpacott Copper,
gett Meyer Tob, Co. Lorkhood Aircraft Loews Incorp.
Lone Star Cement Co. Louisville & Nashville R, Lowenstein & Bonu
Mesabi Iron Corp.
Minnesota Mining
Mission Development Monmanto Chemical Co. Montgomery Ward Mothrala Ine, so National Casts Reg. National Dairy Prod
| National builters
National Lead ..... National Steel Corp. New York-Central, Din Mathiesen, Dils ElevatoES ....... Owen-flinois Glass Pacifle Gun & Misc.
·Paathe Western Oil Pan American, Airways Paramount/ Pictures Parka Davis Co. Penty J. C. Ca... Penn Bali Co... Philo Morel
Philos. Petroleum Pittsburgh Phew Glass
World No. 4 mugno futuron 20-Publieker. Industrias
Pury Oli y
day closed one pains higher with
Radio Corporation [no sales.. Singapore, Dec. X1.
Reptablin Steal Horgoles MetA According to ministerini Brokers today quoted the fol→ The domestic No. ✪ contract shall Ou Co. statements, consumer goods ira-lowing stock prices!
closed 1 point- lower in 1 point Saine. Her. Paber port quotes seem likely to be
Opening higher with sales of 20 con- Sinclair. Ölf 12.30.ed|truct,-
NEW YORK METAL substantially larger allocation ta consolicited
FUTURES
New York, Dec. 20. Prices of metal futures closedi today in canta per Maį se follower
maintained in 1960 at much the Bain (Antang Rubber same level as during 1950; aprilia somen
Byndicat unlikely
unless some unforeseen Ord Improvement in our bence of Traser parments occurs," concluded the axer, Harve
Special, Hongkong -China
Exchange Rates
the followingE/TALJOB:
(per 100)
MAKE
The domestic contract ruled steady in line with the highes raw rourkel, Futur
South Ports
London, Dec. 20.
2014-2.803 2.00-3.80)
70 62-10 0475
138.50-130 8015
11.73-11.734 80.00-09.10 1738-1788 98134-992
143144-14.311 12.2435-12.23 New York foreign exchange rates were not received.--United Press.
THE
Trade Barriers Says Macmillan
London, Dec. 20. The British Foreign Secretary, Mr Harold Macmillan, today appealed for greater freedom from “artificial barriers” to European trade. He deplored the "drug habit" of big protective systems,
+
Mr Macmillan anid: "If | liberalisation and expansion of France and Britain and olhor Franco-British trade-France- countries of Europe are to Presse. itourleh, they must increasingly trade with each other and the moro that trade can be free from artificial barriers and the less it has to be stimulated by
pids, artificial
the better t} will be in the long run for us all"
He continued: “11 1, true that sick patient often requires a shot in the arm, but this form of stimulus should be occasional and short and should not be
-habit. As Individuals come a can become enslaved
the drug habit, so can nationa enally become addicts of high protective syslems."
to
Could Not Continue
Mr
to
who
wak
London Market Dull Before Holidays
London, Dec. 20. Stocks wero quiet on the London Exchange today with declines slightly out- numbering gaina.
con-
Traders cited holiday Macmillan,
and unconfirmed addressing the French Chamber siderations
Cabinet re- of
In Commerce
London, press reports of a the
shuffling as reasons for dullness. referred
"stortlit," increase in French Import to Bri- Favourable corporate Down tain, but warned that this was kept all shares in favour, but not matched by British imports small declines were distributed to Frame and that this one way ifberally In-mainder not continue
Industrial truffle could
definitely.
The French
throughout the
N
of the
section.
10
Chauval, buying.
Bowater was a Arm exception aided by local and American
Gold
share, improved good overseas
nt
14-
Ambassador M. Jean agreed in his reply to the Bri- Lish Foreign Secretary Franco's exports to Britain for times with
that
the past ten months of 1986terest noted for selected Orange totalled £147,000,000 as against Free State development issues. Britain's total
of £84,000,000
in exports to France.
The Ambassador said, how
ever, that France's favourable WILE balance of £50,000,000 more apparent than real, as the surplus was needed to buy materials in the Franto's raw sterling area.
M. Chauvet gald be hoped
would 1050
bring
stocka
British Government had losses to almost £1 on lack of support and routine sales.
appeared An improved tone
fa foreign liens with German and Chinese bonds dominating on overseas buying interest. Japanese lens were easy.
Dollar stocks were mixed. -** further United Press.
FINEST VALUE EVER OFFERED
THREE DOLLARS
Ton of