Page
THE CHINA, MAIL, THURSDAY, JANUARY 5, 1956.
TRADE and
COMMERCE
1955 Canadian Economy Was
Bright
BUT THERE IS NOW FEAR OF INFLATION
By Nornian Macleod
Ottawa, Jan. 4.
Top federal economists believe 1955
contrast
has witnessed a greater
of
HONGKONG New York Stocks
STOCK EXCHANGE
From Our Correspondent) thisinere done on the Bong- morning amounted to $700,000 Nal suolakon4 morning's transelions:
kon Sluck Exchange thia
And the
SHARES DUYERS SELLERB SALES
BANKS
FX $3
INSURANCES
1000
15/1
1700 31778
30 1300
Lambad
bi
Underwriters
14 40
2XX)
Waterboat
23:30
BRIPPING
spectacular achievement mixed with fresh problems than any other year in Canadian POCKS E economic history.
LA
3144
Lose Ground
New York, Jan. 4.
Stocks continued to lose ground today with individual declines ranging to more than 2 points and the list generally off a few cents on average:
The trading pace lightened on the |move-to 2,290,000 shares from 2,390,000
yesterday.
Standard &
Poors calculated | Intl Harvester its index of 60 industrial stocks International Nickel
International Foper nft 24 cents, 20 rails off 47 cents Inti Tel & Tel..... to and 20 utilities up 4 cents with John-Manville Co
the 90-stock compilation down 20 cents on the day
2200 31 73
100032
K Wher Dock
Pinvident 101 13 da 13 6 1000 15.00 Wheelock
11 30 40 30.
0.30
LAND, ETC
Kutel
If it
UK
At its start the year was not expected to turn in any remarkable records. simply reversed the downturn that had marked 1954. authorities were prepared
to be satisfied,
But that Cheng 1985 kes Bols d
'teetered
2mply
peter vang 1951-
נייי 41
new all torka zeven d with a da mabe sind på din broni running the
000,000 annually
15 12 per
1904 and 3
prevrug becord od 1953
Other Features
וין
32161
Other teatime, ad Tha bove regiali ed
A
Find by
T-
pressive guns
Building
gained 43 a
repelt a
11%
now pear of part ander
Huufion that + favourable to
flation Feder
וי פינוי
Really
ROBBER
A Hubber
ATTILITIE
$40
Steel shares were among the hardest hit of the lending groups with Bethlehem aft more than 3 points, Youngstown Sheet went 1724 17 60 1000 17,40 | down 2 points.
はしょ
Yaumat Ferry 103 ぐ Light 10+ 22 19
72 63
Continental Out fell 2% pouits, 19, 2000 1.07% Gulf Neaggy 2 and Jersey Stap- 120 10,000 1,05 dart a point in the otts while 5001925 Texas Co. emtimed strong ising
a polot
Keneral agronst trend 300
Telephone 3333
41 10.30
the
Duded 810 cha, 334
|
Kansas C. Power & Light
Kennecott Copper
Liggett Meyer Tou. Co Lockheed Aircraft
Lone Star Cement Co. Lisville & Nashville R Masati Corp. Minion Development Minnesota Ming
Monsanto Chemical th Montgomery Ward Meloruin Inc. National Cash Neg National Dairy Prod National Distlikern National Lead National Bay Comp New York Central Om Mathieson Owen-Illinois Glam Paolfe Weale 1 1 Anertean AirwayYS Paramount Pictures Parke Davis Co Pen Bali Co
Exchange | Philip Morris
242022
2011
24 20
24.40
100
21 2000
22 00
1000 23
-
C Light (N; 10 00 Electri
Of Jota were juwer
1.183
[1
the
421 421
1006 u 4214 | higher
veria
70033.44
200 330,
New York
Stock
bond volume
J 374
tkk
30
500
1
America
was $4,538,000 Stork
volume was
Duw-Jan
710,000 shoes
cling
averages
Dairy Watson
T 131330 1500
30
10 30
were:
1310
copTONS
Textile Corp Nanyang MISCELLANEOUS
Allied
24 tundusiramen
571
201 1.80 1.00 300
20 rail-
Repe STORES, FRA
Vron mais fear
1 148 Nation especwils ujeli Canada's Kaeigu Trade
Promperty duong 1955
INDUSTRIAIS MIS
L'ement beni layed on the activity of the con fructam and emp
iNK 1- the
the salutal T- foreign markets for raw materinis, base ins lal reveally but als In- radig is hy mautuetured prets as newspamt
neweloperat
**
All these faventables fuctors ་་ཇཱ་ vra ported
federal
In
Kakak well mla 1966,
they wil continue But the outlook for ding the year is
OU A 70
New York Sugar Market
$2,000,000,0 the untered with me uptimists even pre- exploration, together with power, dieting that development and generat ex to 1957 pansion of natural resourers, argjögriculture going forward an su unprecedent=¦ guised as me to uptimiste.
And the danger of an infat closed today ed pace.
S., much to this fight side,ary price trend is regarded
ather Jusuhnation for a note at over-contracts Unfortunate Is then re
all caution United Press.
1 palatable seulition.
Outstanding among them The problems 1 Biding market » for the huge hold-over of gian, and the danger of a delayed in- Ralion overtaking. INIANS making the nation's exqaris no kongee competitive
Grain Surplus
at
The grain suples problem ta} The biggest bred.clie to
federal govenment A louateful | 1955 he has bumper
added tsvil 1954 and
וי!
1953 | stB unsold The situation exists
of the both sides
on
Inter
national Borden and Waslongt
is meeting it may by RIVE-
WIDESPREAD
GAINS IN LONDON
Stocks
New York, Jan. 4. Weld No. 4 sugar futures unchanged to 2 points higher with sales of 23
Domestic No. 6 sugar closed
1 point higher to 1 point lower with sales of 134 contencia,
in world rows, a British re- her was the accredited buyer of a cargo of Cubans, bulk baris at 3.24 cents a poudi, April-May shipment.
Dealing in the domestic con- tructs were agalsi raw market transaction.
Local cane reßnera and operators reportedly bought
47.000 tons of raws around
position spul
al unchanged Futures: prices.
Contract No. 4 world) | Match London, Jan. 4.
May on the London Jus
Exchange closed with Sept.
away and l-at-ps-prive-and-widespread fractional vn-any-term politics This gains today United States dumping has con- tributed seriously to the weak-
dem calut
ness
ani
normal Canalton exp
kuls.
At the moment prairie growers inventory are carrying a wheat
ex-duty
Late business news caused |Spot-teents ner th industials to rally with steels, fextiles, tobaccos and shipping saurs, mat fret.
15 utif
Philips Petroleum Pluhures Plate Class
Exchange Publicker Industries
Pure Of
Republic Steel
Reynokia Metal
Shell Oil Co
Saini Reg. Paper
Socery Vacuum
j0
544
13
171
301
40 x
SECTION
Texaco Co
Granted
Libyan Rights
New York, Jon. 4. Texaco Overseas Petro- leum Co. was granted on December 31 a one-half undivided interest in exclusive prizoleum con- cessitats covering approxi- mately 14,200,000 acres in the
Cyrenaica
and
provinces of Libya, the parent Texas
Co. announced today.
Goological and reophysical work has been conducted In the general area during the past two years, the sanguncement said, and further activé exploration PTOSTRILLING is planned to oover the specific areas of Meno concessions—Unfied Press
WORLD
COTTON
MARKETS
Page
TWA Revenue Jump
Seen If Route
Extended East
Washington, Jan. 4.
TWA, which has been able to maintain both its domestic and overseas routes without government subsidy, said last week it could foresee additional
revenue of more than $4 million a year with the approval of its application to serve Bangkok and Manila.
The forecast was contained ju
n series of exhibits submitted to the Civil Aeronautics Board in support of TWA's bid to extend Its International roule beyond Bombay Colombo.
and
proposal contemplate SCTVÍCU by connection with Northwest Air- fines in the Philippines, and also
one-carrier service. Bffers new from Bangkok and Muntha to as many ሓ። 13 major vities throughout Europes and
East now
Middle
the
served by TWA-TOUR them. Mindrid,
Geneva, Zurich
our ("oru.
Milan, Athens
Large Part
New York, Jan. 4. Cotton futures trading today was active with gains ranging up to $1.50 a bade,
The TWA exhibit deat reflecting traders' cautious-
large part with the superiority rss in face of short cover-of Manila as u terminal, and the ing while dealers awaited need for bridging an sertai gap Washington developments ¦ in an area of constantly growing economie, military and political coin farm legislation.
importance
'round
bul also
Chicago Grains Gain After
Low Start
Chicago, Jan. 4. After slightly lower start, most grains gained Board of
Armness on the
Trade today.
Profit-taking hit the markets early in Ric cines did
but de.
not carry far because hedge-selling was limited.
Dealers reported some buying 10 wheat as a result of forecasts for conthuned dry weather over The winter wheat
helt during
;iaue"གྲྭ whales extreme
PAA, the lone airline uttering the next 36 hours gains at the close hut the st
Soybeans totterti because of -the-world service, still finished unchanged 10 30
sizable meny that captures nei truy
country offerings of points higher. The markel open-
market
attacts surplus beans have increased el off to up 4 points. Now
following recent price xtvances substantial business from the Orleans do-ed up
10 L 33)
other Carriers, thr
the announcement exhibit and
that a showed
large
Mid-Westem
process-1 Bearing it predictions made will cariall crushing operations new form wili putine
by TWA in 1968 as to the grow-by per cent. programmes to Congressmen on ing volume of round-the-world Exporters solch
228,000 Monday, and reported Adminis-business, TWA reported that the
bushels traiion plan:
alleviate
50%
63
434%
04
South Porto Rico Sugar
03 37
Southern National Oos
041
03 Stck
70 74
Southern Railway Com. !
109
pointy
49 bols
Standard Brauda
39%%
DB 23
Cannu future pries
Standard Oll of Cal
DOS
Standard Oll of Ind
B01
Inder
News the President Eisen- husver
Moody's indax
Standard Ou of NJ
452
404 00
Sterling Drust Co
501.
Closing Prices
Stokely-Van Camp.
20
Studebaker-Packatts Curp
10
Swift Co
4714
Alden Inc. Aer.
Texas Co.
12444
Allied Chetnicala
$261
Allied Mills Ine
113
Tide Water Aqu
33%
34
Twenty Century Fox Fi
244%
Allis Chuirner
01
Union Pacific Railway
1704
United Aircraft
American Airline
23
034.
U.8. Gypti‡ty_
300
Also
25
US Line Co
11
1.5. Rubbe
$24
40
US strel
48
45
#7%
Uniter Prear.
CTOS.
Some technicians the market was
American Cyanamide Co. Am. Mach. & F diy American Metal American Betting Am. Sugnt Ret Anaconda Cooper Armco Sieat..... Anneo
Baldwin-Lima-fnun. Bendix Aviation Cor Denguet Cons. Bethlehem Steel Boeing Airplane Borden The Co Burroughs Add Machine Canadian Pacific H...
C. L↑ Financial Corp Cat Tractor
Celanese Corp. Chase Manat Bank
Chile Copper
Chrysler, Motors
3.2 Commonwealth Elec
Exchange Rates.
General Motors
West Va Pulp & Paper
Woolworth
WORLD
RUBBER MARKETS
York, Jin, 4.
today closed higher with
New Rubber futures
to 75 points sales of 200 contructs."
20
templ the
hus
of US grain sorghum
the number of ·passengers nying one offered 100,000 bushels farm plan hiclude payments round-the-world
to
US already vi
soybeuna le Norway of cotton growers
and other risen
to 12,500
year-an with purchases scheduled for buste crop to voluntarily
cut
increase of 400
Over the moderate amount of UK their already reduced acreage. previous year.
soybeans.
Wheat closed off ty to up 12. soybeans new
a long range "soll bank" The Impressive figures were plan which would pay tarmers' based on current information 350 million in the first year to made available to the CAB by switch acreage from cotton, domestic and US airlines wacal, ryc and comm to forage operating overseas.
thought "ready for a small orders readily influenced
rally" und that
either way
the trend.
Cautious
"The fact that trans-Atlantic travers p.seceding to points in the Middle and Near East And they can return to the United States via the Orient and the Pacine for small additional cost Is accounting greater amount of round-the- world trave, TWA submitted,
for
CLA
CVM
eenis
up to 14
CLOSING PRICES Prices per bushel to cents Whitat. No. 2, red
Mar 31
ગ
iLL
21612 212
May
July
210-4 100-
Sept.
201
Corn, No. 2. yellow
Apot
120'
Mar
Mas
130:-2 13
July
Sen
130%
Rye
Tourist Centre
Mar
As
held
TWA ruferred to Bangkok us the leading tourist centre Southeast Asia, and a grategic sector of mounting peliteal and economic Importance.
Oats
in
Mar
Slay
Barley
Spot
New York flour
traders
marked time pending a cleaner view of the
proposed farm legislation plus news on outcome of the blds submitted yesterday under the Government's millon- bate
Surplus disposal and the weekly
cotton
· programme,
Joan figures.
The cetilcized stock unchanged at 17,784 bales,
open interest
40,200
123!
12414-125
004-2
157,
130-140m
$13 10
. 242m
200 it suck Phillp-
Soybeans, No. 2, yellow
With respect lg the pines, the TWA exhibit showed that US trade with Manila in 1954 amounted to $505 million, and was surpassed only by US trade wil
with
Great
and Britain Germany. Further illustrating
the extent of Cconomie interest,
the exhibit disclosed that 171 American firms located in the Philippines.
toxlay
*pu1
Jan Mar
MAY
دانول
Scul
2414
2444-245
248-24532
24312 23312
WINNIPEG PRICES
Winnipeg, Jan. 4.
3226
Colgate-Palmolive Cu. Commercial Credit
52zb
Continental Oil of Del
3.23b
certain start.
Spot-cents
March after an un-May Jirly Bet Nov
Corn Products
Ib. fats Cuba) Contract No. à
323
Crane Co.......
Grown Zeilerbach,
5.32
Cuban Amer. Sugar
Voluine and
0.39 Chutia Wright
22814
The higher
3,40
Diamond Alkal
4035
B40
Dow Chemdeals ...
primary
6.03
uf
Dupont de Nemours
dealer covering
407 routma put prices on
were; Month
Valuine
Open interest
Mar.
12,100
302,400
May
17.600
14,900
Eastman Kodak
thar-
4.33
El Paso National Oas
ገነ
on upgrade. Included in the July
f1.400
235,500
United Press.
Eric Haitrond...
22
turnover were 50 lots of March
Dol.
3.300
183,000
Dec.
3.700
140.000
Family Finance Corp
24-
exchanges for physleal rubber.
Mar
1000
$1,000
General Electric
45%
May
17,900
General Foods
94
Shipment offerings were
Toini
1,503,400 baies
reported
Gillette Safety Razor Glidden Do.
in fair quantity, but held mostly above workable basis. Factory Interest Con-
Prices of futures, closed today tinued от те sub-routine pace, as follows:
NEW YORK
Spoi No 1 'Rss
at
were quoted 44
New York Foreign| July
Oct
cents a
Sput
33.60
Mär.
May
33.85 43.30-13
Byr May
July
July
3183
Oct.
41.13 Oct.
30,38
Barley
3153 | Dee
30.18
England official
$2.80-10/32 May
33,10 Mar.
36.70 May
29.94 20.76
4
B0-day futures..
2.9-11/32 Oct.
Austraila
2.24-7/16 Vlaxseed
New Zealand
2.7036
May
South Africa
2.001,
July
0356
Oct.
Others were unchanged.
-United Preas.
on their arms of almost $3,000,- 000,000 which they are unable to convert into cash. Their in- ablilty to do so is affecting their purchasing power and threatens to make the western provinces a 1
nation"> soft
the economy during the year ahead.
So far the Governinent's only authorise proposal has been to the chartered banks to
syut
loans 10
upon
Dollar stocks dropped at the opening in adjustment to over- night Wall
level, bul Street most Issues Armed in later dealings and closed steady.
British Government were quicily Arm.
Jap Bonds Up
bonds
nake farmers
Overseas tho
buying pushed bands of wheat
heir Japanese and Brazilian
Otherwise, the foreign slun. The farmers
have higher.
division was shown le enthusiasm for this s
neglected idea, but they have failed 16 and unchanged. outline any practical alternative course.
The Danger
the
A revival of overseas interest
featured it gold shares mining group. Buying was con- centrated chiefly in Orange Free
If international food markets State development issues,
are gluted during 1956, domestic
farm prices certainly will drop. pers.
That danger is one of the most dullness, while zine, and lead
threatening
shadows of the coming year. horizon
The danger of a delayed in- Press.
Support dried up for the cop- Olls firmed after early
to the
general the issues reacted оп
strength in metuls-United
Ration overtaking the nation's domestle price structure is no less real. For never before have such Epending resources of saving,
crodit
the
current Income, and
been at
at the disposal of Canadian
}
Singapore
people. Here, Stock Market
Singapore, Jan...
Patienty, is
is the picture Personal savings are almost $800,000,000 higher than a ago; labour income is running Brokers today quoted the
year
approximately eight per cent following stock pricest
ahead of 1954; instalment credit | Bilu Lintang
Ltd.
easier than ever before, de British Borneo Petroleum apite mild movis by the Danic Byndicate
Canada lo pleet some celling) Consolidated
Ord.
Don
St.
Against this formidable array
40/34.
Rubber. Co 13 xd
Tin Smelter
Fraser & Neave
$1.77
raser & Nerve
90.00
of buying power, the consumer prof.
Hongkong goods ploture stands in contrast. Banking Carp.... Not only has it folled to expand | Hongkong Tin Ltd. proportionately to the increase Kempas Ltd.....
Luas Rubber Estates"
In buying power it actually Malayan Breweries smaller by a Wila more than New Berandah Rubber
one per cent..
Will Last
So the stuation
exists of
Petaling Tin Ltd.
Haffles. Hotel Singapore. Cold, Blon
Buyth
Co. Ltd.
greatly enhanced purchasing Bimits Tradi power, bidding for sonów bat
United: 2 does Bóck of commumer Weam Bros, And that's exactly the
Gen. Pub. Útil.
Goodrich, (B. F.) Co.
Goodyear Tire
Hayden Chemical 18.35 Homstake Mining Co. 12.16 Ingersoll-Rand
Business was done in the local unofficial exchange market this Indring at the following rates:
V6. dollar (per $11
$83 Sterling notes (per 41) Australian notes (per Indonesian rupiah (per 100) Siam teal (per 100) Singapore (Oleätze)
15.35 Inland Steel Co. 2330 Interchemical Corp.
1.50 Int'l Business Machines
BIG OIL QUEST
UNDER THE SEA
London, Jan. 4.
5616 nominially
pound. Futures:
MAY.
July September December
LONDON
NEW. ORLEANS
The market was very steady Prices of futures closed today Portugal with spot quoted at 30%1⁄2 penco as follows. per ib. Prices:
No. 1 Rab spot ........ 30-369%
Settlement house term:
February
March
April/June
September
Det/Dec,
Spot
3014-3014 Oct
May July
May
3314-33- 327-33 **General marketa,, eit basis, ports: January
2012-50%
February
Estate crepe unquoted.
AMSTERDAM
market wRe
38-3876
stoady.
LIVERPOOL
33.00n
33.00
32.20-27
30.37-39 30.15-10.
20.70
Future closings, in pence per
1b. were as follows:
A record venture to seek pil 63 miles out to sca begins this month in the Gulf of Mexico, southeast of the Texan sepport of Galveston,
The porchole, more than 201
Tho The platforms are thon sup- miles farther from shore thon ported 80 ft above water level by Prices closed today in gullders New contract, Li any hitherto, will be drilled massive steel piles, each 200 it per kilogram, cit Jan. 7 through 93 It of water. Its in length. The piles pass' right follows: ultimate depth is likely to be through the interior of the hull No. I rupber about 12,000 2,
and can be sunk to a depth of No. a subuer To sink this new hole, the of 100 feet in the actual sen bed No. 3 rubber pompany concerned has char-by tered the
moblie drilling platform liurich- ed in America last year.
Old contract Mar/Apr. 24.05 May/June 23.00 July/Au 22.00-23.10
77.000 July/Aug. 24.15 Out/Nov. ·24.33 Dec./Jan 23.85 350 buyers | Egyptian Kernek Jin/Fib. 39.20
SAO PAULO
Futures closings, in oruzeirva fabulous£1,200,000 177% hormously powerful, hydrau- No. 1 crepe
The Singapore rubber prices per kilo were as follows: The whole "craft has been were unavailable. designed to withstand hurricanes blowing at anything up to 125 miles an hour
The derrick itself is 140 ft. tail; it is powered by four.
Planned 1948
Mer. United Press!
May July
det,
This huge "erartconsisting, difesel engines cheveloping bo London Foreign
in fact, or twin platforms with total "deck area of 200 by 80 fedt,, mounted on a steel hull displacing 2,000 tons of water, was planned us far back as 1948. 15.40 This was whom the oll spen were |
first preparing to carry out their operationa
raska many miles out: In The open on
$1.00
The apurture
Boundly as any
But when a dri Toschock- thoë stroë -mérged by Babodiner
baklast tanta.
tween them a total of 3,000 hp there is plenty of strength to da the job.
Minor Modifications
The unit has been success, fully tested in drilling a bore, Abatas | hola under 65 feet of water,
ship, with a few
for the Cheve
Well'
Exchange
8888
REHSA
In the United States,' the avorage price of 15/10 middling cotton at 14. designated spot | züarkets was' $8.77 cònts. *Sales
totalled 21,000 bales.
KARACHI
The market Quotuated both ways today,, Pripes closed. In get malind gy follows: ko
Prices of grain futures closed
cents taday in
per bushel og follow":
Даля May
Exchange
New York, Jan. 4.
30-day futures 2.00-3/32 Fully
114
1017
Wheat, No. 3, northern, 18ijā cent No. 3, 133 cents.-United Prom.
Let US handle
YOUR PRINTING
Too many proofs mean timo wasted.
We grasp the point at the onset and
ONE PROOF generally suffices. After that, our upstosdate automatic presses make short work of the job. Let as
quote for
requirements,
current
SOUTH CHINA MORNING POST
PRINTING DEPT.
For printing of every description Telephoner 20002