THE CHINA MAIL THURSDAY, DECEMBER:
TRADE and
COMMERCE
WORLD UK Cotton Grey Cloth
RUBBER MARKETS
New York, Dec. 28. Rubber futures today closed
70 to 130 points lower with sales
of 328 contracts.
Over
The easier trend reflected the lower primary markets sess and the lack of follow- through commission house buy-
ing:
was
About a third of the business represented in dealer switching operations. Exchange included July-May at 180 and
180 points; Sept.-July 150 points and May-March
points difference.
380
The apat market was dull
London Stocks
MODERATE
Imports
INVESTMENT INDIAN SHIPMENTS
SUPPORT
London, Dec. 28. Moderate Investment support helped most sec- tions show gains in quiet the London
Reported sales included a small | trading
on
tonnage on March threts at 43 Stock Exchange today.
cents a pound. Futures:
Marcit
May
July
Sent
Dec.
SINGAPORE
40.70-00
40.65
a0.10 37 19
30.00
The market was lethargic all day with small interest in lower grades. Futures:
No. 1 rubber per Ib Jon,
Feb
Mar
No. 3 rubber per 16 Jan No. 3
No. 4
"
Spol rubber unbedeć
Blanket erØDE
No. 1 pole crepe
LONDON
20%-129 12714-120 unguiated
123-120 12414-120' F174-1404 1874-1281 90.101 140-141
The market was barely steady with spot quoted at 371⁄2 per ib. Prices:
No. I spot Bettlement house term:
3744-375
Feb
3707
Mar
36%-30%
Apr/June
2016-30
July/Bopt.
Ocl./Dec.
33-3321 31-31
Juti Fre
30-273%
General markets, eit basis, port
Estate crepe thick and thin boll unquated
-Untled Preza
Exchange Rates
Business
unoficial
Spring at the tollower ente
Olis were frm, allhough Royal Dutch eased about 2.
British Fetroleum, Burman, and Canadian Engle all found up
port and managed gains rang-
shilling or more. ing to
Buying was slow to develop after the extended Christmas holidays Then selected Indus- help from American
ohead
trials got intereste and moved
Borax, Elteirical & Musical ir
&
dustries, Rolls-Royce, Imperial Chemirik. and Stewart Lloyds were fentures,
EXPAND:
OTHERS STATIC
London, Dec. 28.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Block Exchange this morning amounted to $640,000. Noon quotations and tho mothing's transactions:
SILAIRS BUYERS SELLERS BALES BANKS
HK Bank .. 1700
Union
Lombard Underwriters BIPPING
Waterboat
950
DOCKS, ETC.
..23.30
K. Whart Dock
Although United Kingdom imports of INSURANCES cotton grey cloth in November remained around those of the preceding months, shipments from India expanded again to the best total since August, imports from Japan however dropped to the smallest monthly total of the year.
311700 11040 80–200 vo 80% 9.00
20 303 300 # 501% Provident (0) 15.00 15:05 Wheelock
9.30 85 1000 @ 3.45
LAND, ETC.
HK Hotel .. 17.00 7.50 300 4 17.80 HK Land 1621 100
(R) 51
I
Realty
A. Rubber .. 1.00
TYRI
During the first 11 months of this year | RUDBER imports of this cloth already exceed last were idle, and British Govern- year's total imports with India supplying
nearly half of this total.
Gold ahnres and bose metala
closed
virtually 1121-
ments changed.
Among foreign bonds, Japan- and Les lens found support
Tokyo Electric paced in general a gain of £1. advance with
German issues
qui:1. wcre Greek bonda tacked on gains of several shilings.-United Press.
London Foreign
Exchange
New York
Montreal Anterdum Brussels
Copenhagen
26.00 Others
1.80
WAA done
exchange
the local AS
th! market
Trankfurt
U., dullar (per 315
031
Mian
Sterling notes (per 21)
10.10
Paris
Australian notes iper
L
Indonesian rupiah Iper 1001
17.00 15.00
Blockholm
Slam Ucal per 100)
Singapore (Straits)
Zurich
Press
New
were
London, Dec. 28.
2.80-2.803
2.00-1/10-280-3/10!
30.6244-10.03
139.00-130.65
10.30-10.3341
11.7114-11.7134 1703-1754
Rye Futures Improve
In Chicago
United Kingdom cultum cloth Imports in November totalled 17.2 millon
square yards necording to the latest Board of This compares Trade figures, with 17 million square yards in October and 21.1 million square yards in November 1884.
India sent
yards
s
Blar Ferry 231%
1.0025
1300
Yaumati Ferry 103 104 200
C. Light (0) 33 23.30
C. Light (N) 10.90 17.30 300 46 172 Electro
... 425 42.75 2300 ủe 42,7
Telephone
INDUSTRIAL
Cerment STORES, ETC.
Daky
Watson COTTONS
33 33%
500 42.50 100 or 42.73
1500 3330 50033
37 374 3200 @ J
10.40 10.00 13.30
100 o
500 130
11 million square Textile Corp 180 5.00 14,000
In October and 7.9 million | MISCELLANEOUS square yards in November last
year, Japari only 1.0 million
square yards against 3.8 million ས་-་
and 8.1
million
square yards
square yards and Hongkong â million square yards against 3.3 million square yards
2.9 and yards respec-
Chicago, Dec. 28. Rye futures picked up million
a cent atively. gains of about bushel on the Board of Trade today, but other unchanged.-United grains held steady.
0034-0833%
145-1462
12.24-12249%
York Stocks
Still Irregular
By Elmer Walzer
New York, Dec. 28.
in
irregular
Stocks continued routine pattern today.
an
A few issues moved a point either way but for the most part fractional changes were the rule. Trading was moderately active.
There was litle in the new either to stimulate new markul Interest or to prompt selling of any Importance.
Auto shares,
El Paso National Oa Erie Retiroad Family Finance Corp. General Electric
General Foods General Motor
which dropped den. Pub, Udi
Edupply yesterday on talk of Gillette Safety Razar reduced production schedules Glidden C for 1958, continued easter and Goodrich B. P.) Co.
active.
vih & 9,000
Goodyear Tire
off th th share block of 48%, Hometake Mining Co.
%
General Motors opened Hayden Chemieni
dipped
to $459. Ingersoll-Rand
Inland Steel Co. Chrysler cased to $87.
Int'l Business Machines Stoels were narrow. Bethle-Int Harvester
dipped 4 to $162, US International Niejed Steel edged, up to $575. Int Tel & Tel Republic
to $48k and Johns Manville Co. Youngstown Sheet & Tube Kansas C. Power & Light".
$97%
to $97
International Paper
Kennecutt Copper Lockheed Aircraft
In oils, Texne Co. added Loews Incorp. point to $118%. Standard of
California to $90, Sinclair
On % to $6736,
Lone Star Cement Co.
Lowenstein & Sona.
Mesabi Iren Corp. Minnesota Mining Mission Development
Dow-Jones closing averages Monsanto Chemical Co.
were;
30 Industriain
20 Talis
15 utilities
65 stock
40 bonda
Comm. future price index
Moody's index
Closing Prices
Alden Inc. Acy. Allied Chemicala "Alled Mills inc.
Allis Chalmers
American Atrikna
American Cyanamide Co.
Am Mech_&_ 7' dry
American Metal
American Smelting
American Tol &
American Tob.
Anaconda-Copper
Arco Steel
Armour
Baldwin Amaian,
Baltimore & Ohlo
Bendix Aviation Corp.
Montgomery Ward
484.22 Motorola inc.
11.00 National Chgh Reg.
64.30 National Dairy Prod, 171.85 Nallonal Distillers
98.00 National Steel Corp. 12.63 New York Centra! 600.2001 Mathieson
Olis Elevator Owen-Ilincia, Giens Pacific Go & Elec. Pacific Western. Ģil Pan American Airways Paramolint Pictures
$234 1152
34. Parke Davis Co.
Derlings
tr
wheat
square
First 11 Months
Cloth imports for the first 11 were months of 1954 reached 268.5 square yards against million 206.7 million square yards in the same period last year and only 531 millon square yards In
1953. has excceding lost year's 12 months total of 236.4 million square yards,
mixed, with Some buying at tracted on prospects of export sales in the near futures and on reports that southwest winter wheat areas need moisture, but rallies met profit-taking.
Pending export business in Royber ins and edible
teiped
India's contribution to the 11 total was 124.6 million months oils benn Cutures
square yards compared with carlier
115.3 million square yards a today,
but the announcement
ago and only 11 million that the Government has
two years ago. released a large amount of pea nuts for oll had a depressing effect on the soybean market.
Exporter, reported the sale of two-milion bushels of US grain Forghums to the Continent Bald Portugal is overnight and
scheduled to buy a cargo of US wheat tomorrow,
Wheat closed off Ya to cents; soyboxos old up cent; soybeans new off % to up cent,
Prices per bushel in cents:
CLOSING PRICES
Wheat, No. 2, red
spot
2120
Mar 2003 (11) 205 (1) 20835-21
May
July
194%
Sept.
100
Corn, No. 2, yeHow
Spot
Max.
May
July
120 100% 1214-41 1345
112 Sept.
Ryo
Mar.
392
Mar
1304.
Osta
Mar.
19
May
27 Boybeans, No. 2, yellow
494 Spot
23794%
Jan.
Mar
May
July
Sept.
Barley,
Sput
New York four
100
200 lb. mak
WINNIPEG PRICES
дель
Japan
ment Yangito Allied
0.00
1.03
300 19
3.45 1.85 3000 NA 015
Singapore
SECTION
Germany Objects US Economy Should
To US Rubber Split System
The
Frankfurt, Dec. 28.
West German rubber industry regarda Introduced ile reconlly
system of spilt prices for synthetic rubber in the United States, de a discri- mination
Resinst foreign buyers of United States rubber, industrial sonroes mid.
Prominent
represonia- Wives ok the Indertry pointed out si A recent meeting that the system of different domes- ile and export prices for United States Synthetic
rubber was not in stor dance with
general prin- ciples of United Alates trade polley.
They feared that birder export
prices might seriously affect cost and price relations of the in- dustry which to the grOW- ing extent depended on Imported synthetic rubber.
Of the total of about 16.000 toma
of synthetic rubber imported by West Germany in the Arst 10 months of this year, more than 10,000 tons came from the United States--China Mall Special.
WORLD
COTTON MARKETS
New York, Dec. 28. Cotton futures trading to- day continued to be a tame holiday affair.
On small operations between trude accounts, prices sawed
over a harrow range keeping close to the previous
Stock Market levels most of the thine,
Singapore, Doc. 29, Brokers today. quotedt following stock prices; Batu Lintang
Rubber Co. 140. British Borneo
Petroleum Byndicate... Consolidated Tin
Smelters Ord." Fraser & Neave Ltd Ord. Fraser & Neave
71 cun. prof...
Hengkong & Shanghai
Banking Corp. Hongkong Tin Ltd,
Kempas txt,
square mulied 01.4 million | New Berandah
square
million
the
Rise To New
Heights In 1956
Commerce
By Robert F. Morison
Washington, Dec. 28. Secretary Mr Sinclair Weeks predicted today the soaring American economy will rise to new heights during the first half of 1956, paced by the steel, auto and construction industries.
He also foresaw a "little" upturn in the farm economy, a "good chance" of a balanced budget and
по "crash" potentialities in the current stock market situation.
Mr Weeks ducked any pre-thinks there is a "good chance diction of a tax cut in 1950, but of balancing the budget this sald rit cants the
year." This presumably referred phasis" should be "on relief to to the current fiscal year ending the consumer."
next June 30.
on
The Commerce Secretary made his rosy forecast of even bigger boom in 1958 in next year, he madio interview.
Ho backed it up by releasing comprehensive survey of major industries showing that nearly all segments expect to continue at or above high level at least through next June. Highlights of the survey showed:
current
sny
While declining to directly if he favours a tax cut
saici 11
Wna "ahmost
axiomatic" that the off the people will be because lower the tax bill "the batter
then their efforts are towards creating wealth."
He said that out of the 1954 fax cut, about 08 per cent went to consumers and the rest to industry. In any new cut, he urided. "I would personally
to the
con-
AUTOS: Outpul expected to bit 4,250,000, a boost from the rather ese the emphasis placed 4,227,000 produced in the fratn the rellef half of 1956. Truck production,
|sumers." which saw its best year in his
Discussing the booming stock bory
in 1955, slated to show market, Mr Weeks sald he saw 'Aizobic Increase" in theno comparison with the mar January-June period. The aur. kat situation in 1929 "insofar vey did not Indieste whether it
as potentiality of a crash is con- Into
the Ford comed." account look
statement
He said the market today has "built-in safeguards" such big permanent investments stocks by Insurance firms and pension funds and a high 70 per cent margin requirement, United Press.
Motor Company's Last week that its 1850 pro duction schedules had been reduced.
Realising at the close brought Irregularity with the list finish- CONSTRUCTION: Estimated ing 6 points lower to 11 points 1956 spending on all new con- bigher. Opening prices were up struction at 44,000,000,000 Opening
1 to 11 points. New Orleans Collars,
a five per cent boost closed unchanged. $1.00 cd
from 1939, record. This despite
46/-
*/.
$1.70
$4.00
KB00 0/-
six
Lunas Rubber Estates Ltd. Malayan Breweries
$4.06
$3.38
Rubber Co. Ltd.
$1,00
Petaling Tin Ltd. Rallies Hotel
$4.30
$2.35
South British
du Singapore Cold Storage
$1.00
Insurance Co. Lid.
#37.50
Straits Trading
Strails Steamship
$12.60
Unlied Enginbers Ord.
39.80
Wear Bros.
$1.80
China Mall Special.
yards against 41.8
square
yards million and 38 y car yards in 1053, yur
(Pst square and Hongkong exported 44.5 million
*quare yards against 16 million square
only yards in 1954 And
Ava million square yards in 1868 China Mail Special.
WORLD MERCHANT FLEETS
Norway, Germany
And Holland Step Up Size
London, Dec. 28. Norway, Germany and Holland led all other European nations in stepping up the size of their merchant fleets during the past year, Lloyd's register of shipping showed today.
But the world's biggest merchant fleet was still that of the United States, which topped even the combined total of all British Commonwealth nations.
as in
In addition to the holiday an anticipated drop of 100,000 New York Sugar
feeling, traders were cautious in new home construction. about entering new commit-
Market
ments pending developments on IRON AND STEEL: Current farm legislation and commence record-breaking production ex- ment of the Government's cot-pected to continue through next
New York, Doc. 28. ton surplus sales programme June, making the first half of
World No. 4 sugar futures to- 1056 one of the highest "If not day closed unchanged to 1 point after the New Year.
higher with sales of
88 con- tracta
Domestic No. 8 sugar futures closed unchanged to 1 point
of 41 lower with sales tracts.
were
the may
health
In
the
radio
was
World futures
steady with trade house on both sides
of the market.
World .rawa....hold steady. Dealers understood further bids like the way construction "very closely and had been submitted to the I read" Its Cuban sugar institute for ad- prospective increase in 1950.
On January 3, the Corn- the highest" in history,
Credit Corporation is modity
Mr Weeks, sheduled to accept, or reject, interview, said the auto indus-
1035 bida for the sale of around atry's big output in million bales of shorter staples veryonential' to bolstering from the Government stock.
economy. He called the in- Some traders were
น doubtful dustry "great barometer about
amount
with of cotton economic
along which
heavy
ond bo sold niliy other
Industries Overseas until They can learn construction.
He said he personally watches more about what level of bids will be acceptable to the ag
Raw cotton exported for the season
thus for approximates 670,000 bales against 1,540,000 to the same time bales shipped to last year. Some quarters were hopeful of increased shipments
the When
Government saics
Mr Weeks programme gets into operation. farmera
sold that whilej sales of around 100,000 tons to "have shared to the various operators and dealers The cortificaled stock held
degree that people generally said prices on the institute sales unchanged at 17,083 bales.
have" In the current business range from 3.18 to 3.26 centa a open interést
boom, "I think the turn is go- pound, fob futures. Futures:
a little, rather
Contract No. 4 (world) than the other way...
He did not
claborate. The March Agricullum Department's latest day economic analysis forecast
Volume
were
and
Up A Little
Volume Open Interesting to be up
Month
March
May
14,100 404,900 17,100 138,800
July
0000248.500
·
Oct.
4,100 188,400
INKO
$3000 .141.200
Mar.
May
Total
900 81,500
200 14,300
45,100 1,587,700 balea NEW YORK.
Prices of futures closed today as follows:
pot
May July Oof
Doc. Mar.
38.03n
odst
33.224.
11.81
30.08
20.91
BENSHIRE.
May
130-140
$13.40m
NEW ORLEANS Prices of futures closed today
4344
Prices of grain futures closed today in cents per bushet as 31 follows: 40% Onta
Britain, Norway, Liberia and tanker feet WOB the world's Panama had the four next | Nith largest,
July largestowed a modérate highest totals, In that order, according to figures compiled Increase in its total merchant last July,
shipping during the year,
as follows:
Spot Mari May'
33.60
Doc.
Mar. May
Penny J. C. Co.
073%
10% Procter & Gamblo Co.
Dea.
•May 46°
July $1%8 100
Dec.
Statistics
100$
May
1081-100
70 Pure Oll
July
1073
70
48 Barley
Déc.
NEK
171
SIGA MX 0439 July
804
90
574000.
Penn. Salt Co
Phillp. Morris
2015 | Philips. Petroleum
Piltaburgh Plate Glam
100% Publicker Industrien.
Radio Corporation
Repubila taul
Reynolds Metal
14 shell Oil Co.
4014
Baint Bag, Paper
Bocony Vacuum
South Ports Fico Bugar
Banquet Cons
Bath Sinclair Oil
Bethlehem Stoel
18135
Boeing Airplane
73
Bouthern National Cãe
Borden (The) Co.
Burrought Add Machine
Canadian Pacific IL
CVXI. "Tinancial Corp.
Cut. Tractor
Celanese Corp
Colgates
Commercial
nental
Bouthern Baliwne (Chen, Mitanda Brande
Biandard
DeeJane
Msc./Apr.
May/June
July/Min.
May/June
Oct/Nov.
ditional supplies nt 3.25 a pound.
However,
the institute o
portedly did not take action on the bids following its recent
July
somewhat lower incomo for Sout farmers in 1058 compared with
when their prices May
this
year,
and income were falling.
Spot-(centa_per in. fob Cuba)
Contract No. 4
Mar.
July
Mr Weeks did not go deeply Sept.
Into the subject of the budget Spot-(cents per lb. ch NY
ex-duty ог taxes, except to 'gay ho
United Pres
300 2015035 May July
34715-35 101 Wheat, No. 9, northern, cente: No.-6.-123 cents.
United Press.
Liberia's merchant. Beet, entirely a postwar develop- ment, is based largely on the Onagris
Nichros tanker fleets. · During the plast year, increase Liberia showed on almost as large, as the total merchant fleet of Denmark.
Combined Fleets
Statistics on total feats of leading maritime nátloris:
United
Blates 28,423,000 |
Britian down 921,000 19.887,000 up 842,000; Norway- 7,249,000 up 444,000; Iberia 8,997,300, up 1,016,000: Fanania, down 188,000, France
82,000: Italy
'The world's combined. mer- chant fleets totalled 100,589,000 3,785,000 up tons, an increase of 3,147,000 Lunds 3,696,000
Sweder 2,801,000
· fons "over... thế.../pretious year.
Tanker fleeta umounted-
ark-- 1,652,000
New York Foreign 26,45000 tons, or 20 per cent
Exchange
of the world's total. The Increase in tanker deste dux the des
went to Liberia
Nether 253.000 up 100,000 up: 88,000
LIVERPOOL Future los pence per Ib, were as follows! Did contract
New contract.
Egyptian Karnak Jangebr BAO RADI
Future closinge. In cruzeiros par kilo were dis follows; \
March
Oct,
In the US the average peleé of 15/16 middling cotton at 14 woot markets today 33-77 canté par b
KARACHI 'market wa
Bales
Let US handle
YOUR PRINTING
Too many proofs mean time wasted. We grasp the point at the onset and ONE PROOF generally sufficos.
After that, our up-to-date automatic
pressos make short work of the job.
Let
quote for your
current
req
ents.
SOUTH CHINA MORNING POST PRINTING DEPT.
36.70