Page
THE CHINA MAIL, TUESDAY, JANUARY 24, 1956.
TRADE and
COMMERCE SECTION
New Rubber Root Cause Of Inflation
Futures Contract Trading
Now York, Jan. 23. Trading in a new rubber futures contract commenced today
Commodity Ex change Ine.
on
Known as the "standard con- tract, the new Lanit will Tar similar to the present fold). “No.
smoke i sheet except that
1
contract. off-grade qualty
Rss will be deliverable at
it a seller
a penalty
WORLD
COTTON
MARKETS
New York, Jan. 23. Cotton futures today moved irregularly in quiet dealings as traders marked time pending developments
on farm legislation,
Activity slackened generally Ir v regions in two weeks.
At the close the list ruled off 12 to
Opening up points.
TOO MANY JOBS
SAYS BRITISH BANK CHAIRMAN
From Our Economic Correspondent One of Britain's leading bankers gave a solemn warning last week that there can be no remedy for inflation so long as there are more jobs than workers.
Mr A. W. Tuke, Chairman of not as some of his contract fenders. No 1 ribbed files wife of 3 to 19 points. Barclays Bank, was sherla at
between New Orleans closed off 3 to critics seemed anywhere
to
suppose 1/18 and
advocating s of a #rude veints
unemployment. But it was essential, he qually, a penalty of one cent a pound will be unsensed
said, that some way should be found to equate the number of vacancies notified at labour exchanges with number registered unemployed.
the rad
Standard
how
Beth contracts will be tranfest simultaiseusly, bit The contract wilt gradually replace The old at when the Der emlat 1150 delivery expires
1
The 1 of fuctuation will
the
rents and har
credths of a cent a pound with
New
relativn
erop deliveries showed
tearines
fi
as sellers urally view of how the furm
petelit
legi Nation is opt to shape up. Nem by stilvelies were on the detensive must
the of
cluy Modt rate hedge ellata and
Meti never-full
Musta strong enolI0718
50 the del vedale weight clation and trade buyers, amplissinent is the soot cause if | Pot debate on the labour siluas -
STAINED
BALES
Ja w cenizac
Alan Thr
wall Jato delivery of of ghilly startar hides sup to 10 para vod of the
!!י
provided the stappa
state A utut 11 1g
10
cent of
1. Է
Cotant
i5
IH
Dades de lejeet Tax a d allow.u
colite rundaçı yand
*|| t
Mindraum weight of pankog Heitverable under the new con tract is 10 pounds, white rus- Tota
1, and allowance
2 hit hiding The weight off parkages .31
must be withou ants
Th-
le:
KRIVA following thec rent bug 10A
Spurt Tooni sta Rica
k
a futia and that at A fou eet yout concernet.
Howrary, Alanla
trade
al
Wits
15
دارد.
Istins suffers from this weakness.
tiplaye odmead for, when I was lou eary for them Tom all
le change jolis, the stud. md at zm. Suth 21 t
wars bag for
when emplus en there was not enough inventive
s
Create Pool
A onviulizi newspaper thought tetveleg it noverment among mand shipment Some at 5, to keepersby down, when then
lither Ta
create ♫ bow in new crop, order boks were too long and "pod af unemployed,” but Lottery I, w grades were in lake they could tell on the
Was the Financial Times noah chup miket thered
They could
let the matter. produce at altuest any pries
1.5
..
Memphis also noted proved mill mletexi late in the week with sales made for spring and early auturn shipment
Los Angeles reported la! preparatama weth for the new tfl. teria and particularly the Muta Salt ,: Jequam voley
The beated stock declined close f | 350 bades since the last pusling.
The
festal at 15,721
contract
taka thod 10 to 37 points towry with raka nd 762 van Tracts
The
W
with sales of 119 contracts, with | with no cotopise, of 171 da posible bales,
NEW YORK
Paces were influenced many
that
Find A Point
Wi Fas
evd and heat-by
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- Kong Stock Exchange this morn
to $200,000.
ing amounted
Noon quotations at the morn-
Ingo transactiora;
ARES DUYERS SELLERS BALES
BANKS
ILK Bank INSURANCES
Luion
Lombard
sPPING DOCKS, EX
Waterbost
H. Wint Duck Provident (Old) Wheelock LAND, EFC HK Hotel Fik L
Uld!
(New)
Told
(New)
Telephite INDUSTRU ALS
000
57
1745
2013
Spcony. Increasing Capital
New York, Jan. 23. The Socpny Mobi Ol Company's 'directors have voted
to recommend to shareholders at the 94- nual meeting on April 26 an increase in authorised capital stock to 75,000,000 shares of $16 par from the present figure of 40,000,000 shares of Sið mar.
Condillertal on nbare- holder approval of The proposed increase, the Directors plan to declare ♫ 28 рег cent stock dividend payable fate In June. Such A dividend would require
9,000,000 shares.
2 + 1000
lance of the
* 1000
shares
2013 34
10,10 10.30 – 300 v4 13 20
0.30
17.10 171
#1
U2
MISCELLANEOUS
38AE
about
The ba- unksned
would be reserved
for future poses,
corporate pur-
Mr B. Brownier Jenning, Bocony Chairman, kald the stock dividend was intend-
ed
"lo give shareholders additional tangible evidenes of the company's
growth
a result of reinvested earnings." China Mait
Special.
Singapore
Stock Market
Singapore, Jan. 24 Brokers today quoted the fol-
Page
HK Merchants To Exhibit At Washington Fair
Seattle, Jan. 23.
Officials of the Washington State Interna- tional Trade Fair said today 25 exhibitors from eight Asiatic countries have made reservations for the exposition here on May 4-13.
Donald M. Yates, trade president, said reserva- tions have been made by merchants from Hong- kong, India, Indonesia, Japan, Korea, Pakistan, the Philippines and Thailand.
They include manufacturers Far East. Southeast Asia and texults, jewellery, furniture, the west coast of the Americas" brassware,
Ivoryware, ceramies Mr Yutes said "The trade fair and woodcraft.
Is the best way for exhibitors The
Washington State Trade | from
overseas to scil in the Fuir will
The only such Américan market and to make cxhibition in North America contacts which will result In this year, Mr Yates sald,
Contirailing business, United Press.
Buil 1 Rutarea by business civic lenders throughout the state of Washington during the pust five years, the trade für Is clesigned
further
develop two-way trade between the United States und Preille coun- tries,
10
17 Nations
LONDON METAL PRICES
London, Jan. 23. The tin market wa steadier this afternoon.
littla
Last year, 17 Pacific nations brought their qually goods to per long ton as follows: the trade fult, tu met with
Prices closed today in sterling
of
tealty RUBBER
1 Do
A
Rubber XD UTILITIES
10
241
Star Ferry
Ymall Ferry
103 105
<
Light (0) 22 20 22 30 509 e 27.30
<ht (N
Elektrie
40 434, 1000 60 40%,
2.000
Suvera
Sellera
American
Stars Electric
VAN H
A,20
1 33 500 32.73
lowing stock prices:
aba!.
4
11 Chat
201, 2009 000 # 30%.
Outening
13
234
Lintang Hutber
Viz
contacts of puzlomČEN,
"Americane
STORES, ETC
1.d
11 80
1
ate demanding quality handicraft ut the
Sent Unnadian
3-month inicians reciven orders and Cupper pot
3-month with thousands Lead 2nd half Jan.
Zine 2: hall don.
and Tin t buyers, oversCos
DÜNG!
307
799
39)
308
370
12146 123
Apr.
(00
1DT - 18 3 200
15
10 B
Hyndicate
Aumeo Petroleum
Apr United Press.
11014
0212
101
14/011
13 10
131 4 11
Consolidatedl Tu Surites
Ord.
29/30
0,45
0.78
5.00
Praner & Neave Ltd, Ord. Fraker & Neave
$100
Cum.
pret
ing Corp.
Hongkong Thu Lid.
7/00
Kempas Ltd.
$7.00
84.19
Malayon Breweries
$3,00
New Berandati
Rubber
Lu
$1.03
Pelaling Tin Ltd.
Raffles liotet
$4.25 $2,33
Bingapore Cold Storage
$1.60
South British Insurance Co
Lid.
927.00
Straits Trading
$27.00
Strails Steamship
United Engineers Ord. Wearne Bros.
$9.25 $2.07
New
"Whist as needed,” it saint, "la (not Hugher unemployment but a (staller shortage of labour.-
Lenn Express Sarvier.
[ 15
votapetition
other
Is to fored," said Mr Tuke, we the Sonhall probably not hea so thuch
of Identical tendres ani alleged abuse aturttipolies,"
open interest
of commeretul
He admed, however, tint the difficulty was to find a point at which full employment be came over-full employment. He rejected as "hardly acceptable"
definition of Cconomists'
full employment as a sittin which three per cent uf the working population were nut of
Vidune
were.
Month
Mareh
Volume Open interest 12.700
JUG OU
by the acht at Lonches and the
sta
17.500
S04030
1) Th
207,100
Oct
42063
107,000
3 10:3
173.000
Mai
2,500
63,700
33.000
100
3,200
11
1,577 000 bales
Continued clow factory demontic
in the spot marke!
Shipment
ufferings wire reported moderate with prices mostly above # May wurkable basis
Futuresi
July
Total
Old No Is
Manch
40 20
MAY
3091-37 U
July
113 80
Septemb
31 80
December
JAB 199
as follows:
Now
-be
tat
Marvi
L
Macy
July
Septembre
א' 15:
RA ADO
NEW YORK
Prices of tutores closed Tudary
March
May
39 340
July
33 20
Derember
SINGAPORE
market opened
October
March May Custer
anxi capert further 021 Jocul
وشوق
NEW ORLEANS
in
Watrun Yanglare Allied
it K
Invest
11:00 11:30 – 500 - 1:1 (0
Stronger Tone
In New York
New York, Jan. 23.
Stocks moved irregularly in moderate
Joh. But the present situa trading early today.
tion, he said, must certainly be described as over-full employ- ment and fs Inevitably falionury."
What is the present siluation
that causes Mr Tuke and many
the
No
much concern?
was described last week by the
Industry.
The tone appeared stronger than that of last week.
There was one sharply lower feature. American-Hawaiian Steamship
Hongkong & Shanghai Bank-
Lamas Rubber Estales Ltal,
Ltd.
ed.--China Mall Special.
York Sugar Market
New York, Jan. 23.
sugar futures today unchanged
World No. 4 closed
to 2 of 75
points lower with sales Co.,
contracts.
Domestic No. 6 sugar futures to one point higher with no sales reported.
world In
closed unchanged
slumped 2014 points following a warning Treasury in its Bulletin furby company chairman and president Samuel H. Norman that he knows of "no
further reached its inwest good reason" for the sharp jump in price
of late.
According to the bulletin, wn- employment
35 15
30 47-42
34 09-7)
30 54
The
3034
32.04
liquidation It reacted during
the attention due to some ac- ceptances from Austruha ani Prices of Intures closed today after rallying Uz vents, the as follows
postwar potat In 1935 when vacaneles waiting to ae Alled cutnumbered workers tem- porarily out of a job by two to
the cluse. Futures:
Spol
34
03
per 122
100-100
Mareti MINY July
34.38
65-00
.41
Gelaber
Kaits came off sightly lowards
No 1 rubber
February
March April
No. 2 Uber per 16 Feb. No. 3 rubber per In Feb No. 4 rubber per It Feb
Spol rubber unbaled.
lanket crepe
No.
pale crepe
LONDON
10711-1079. unguated 10736-18!
1044-100
031-054 110-120
The market was quiet
December
March
May July
LIVERPOOL
Closings, In
with
were as follows:
spot quoted at 31% pence per
Jb.
Prices;
No
Ras spui
013-32
Settlement house term
Feb.
317-317
Mar
៦. - 1
April/June
Juty/Sept.
302-3012 2012-201
Oct/Dee
Jun
Fel
Mar.
Estate crepe thin Feb.
General maskets, ctf basis, ports:
thick
AMSTERDAM
SRE ESKA
30.54
Believes It
international Nickel
P&O B.I. E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards "CORFU"
"CANTON"
"CARTHAGE" "CHUSAN"
Leaves London
Sailed
1st February
2911 February
13th March
bus Hongkon
eth February 6th March
2nd April
131 April
Via Bouthampton, Part Batd, Aden, Bembey, Colombo, Penang Singapore
Nomewards *"CHUSAN" "CORFU" "CANTON" "CARTHAGE"
Via Singapore,
Leaves Hongkong Due Landon
30th January 10th February
9th March
6th April
27th February
12th March
8th April 7 May
Adep,
l'enang. Colombe, Bombay,
Fort said & London
★ Abe Calls Marseilles.
FREIGHT SERVICE
in
wed
10%
International Paper
110
raws traders developmenta the
reported talks to the effect that Russia ls interested In buying 100,000 to 150,000 tons of refined sugar from Cuba. Futures:
In T & Tel
201
John-Manville
152
Contract No. 4 (world)
Kanuba C. Power & taght
30
March
3.2511
"SURAT"
**SURAT"
que Jrd Fel. all oth feb. loads 27th Feb.
Bethlehem Sleet featured with
Kennecult Copper
115
Muy
Liggett Moyera Tub. Co.
303 July
ARAR
Selit.
19
Oct
Co.
The stock touched a high of $131.75 early
this year
after selling at $63 in September lust
ar
a gain of 1 to $151. Youngs- town Sheet & Tube ran up 1 to
But this is a national average $85 Republic Steel and it gives a
distorted
10
Alled Chemical rose 1% to $100 while Du Pont dropped n point to $216.
m- $416 pression of what is happening in various parts of the country.
labour per lb. The pence
shortage is most keenly felt in those areas where engineering is the main
Indus- In: the Midlands, for
Oud ennfræet Mar Apr
May June July/Aug Ben continet May/June
July, Aug. Del, Nov Dee Ja Egypt Karnak Jan/Feb.
SAO PAULO
Rally moved narrowly aside 25.20 try
from Northern Pacife which 23.45 example, there ure about five gained to $20%
23.93
unfilled vacancies for every Jub seeker and in London area there
21.19
20.75
23.03
25.65
are four.
3143-319
Futures closings, in cruzeiros 31-911⁄2 per kilo were as follows:
344%
The market was weak. Prices In guilders per
closed today
kilogram, cit Feb. as follows:
No. 1 rubber
No. 2 rubber
No. 3 rubber
No. 1 crepe
March
May
Ju.y
Oef
Dee.
In the US
3.10 now. {e{ 15/10
27.30 27.95 28.40 30.00 30.34
In all manufacturing Inclus- Įtries combined the number DE vucancies continues to rise.
Despite the Increase of 217,000 jemployed in these industries the number of unfilled jobs in October was 183,000-a Afteen per cent rise over a year earlier.
There is reason to suppose,
the average price however, that the labour short- middling cotton at 14nge in manufacturing industries is even more acute than these WIN spot markets cents, Sales tolalled treasury, Ügures Indicate.
3.00 non, designated
3.05 no.34.19
3.49 nom.
United Press,
| 122,177 balos-United Press,
British Government
Stocks
Down
London, Jan. 23.
British government stocks skidded sharply and led a general market retreat in dull trading on the London Exchange today.
Mr
An
Allied Chernles
Allied M Inc. Allis Chal American Alrine Ainerlean Cyanamide Co Am. Mich. & F dry. American Metal American Smelting A Sugar Itet. American Tel & Tel American Tab. "B" Anaconda Copper Armeo Steel
Lockheed Aircraft Loews Incorp. Lone Star Cement Louisville & Nashville . Lowenstein Son Mesabi Iron Corp. Minnesota Mining Mission Development Monsanto Chemitchi Cu. Montgomery Ward Motorola fric. National Cash Reg. A Natunsi Dairy Prod. National Distiler
National Lead
National Steel Corp.
New York Centrul Olin Mathicrant
QUs Elevatora
Owen-linols Glass
Pacific Gas & Elec. Pacific Western Dil Pen American Airways
Paramount Plutar
Redio Corporation
Republle Steel"
tegnolda Metal
6314 Spot-(cents per It. tab Cuba) 3.25
Contract No
Ո
251% March
May
106 July
301 Sept.
421 Nov.
43
331
3515
6
Spot-cents per ib, elf “MY
ex-duty)
A88388 $9888
5.43
United Press
CHICAGO GRAIN
PRICES
Chicago, Jan. 23. Prices per bushel in cents;
Cloring prlees Wheat, No. 2, red Spai
from R. for Japan
4
for S'pore. P. Swellen. Вот Penang, Aden,
Puri Gald, Genoa, Mar-
reilles.
burg.
Antwerp
Lundon Ilan-
&
Hojerdam
With liberty to call at Belawan before or after Straits Ports and at Bombay if inducement aKerk. Tanks available for carriage of Oil In Bulk. Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD,”
1850-A HUNDRED YEARS OF SERVICE — 1956 "SIRDHANA” due Eth Feb. from Caleuita, Rangoon
"SANTHA" Apil
"ORMARA" male th Feb.
Straits 8th Feb. Sur Singapore, Penang &
Calcutta
for Singapore, Penang. Rangoon, Calcutta Chittagong
P. & O./B. I. JOINT SERVICE
Ford 20th.Jan. for Singapore, Colombo, Karachi, Dasrahi, Khor- ramshahr & Kuwait
B'pore, BOMBAY, Bhavnagar, Karachi, Basrab. Khorramshahr & Kuwait from Bombay
Joss 2nd Feb, for
Closing Prices
Alden ipe. Acy.
เต
10734
34
059%
Ma Parke Davis Co.
BY
47 Philip Morris
Penny 3 C. Cu.
13
Philips Petroleum
170
48
041 Publicker Industries
2015 Pittburgh Plate Cake
Procter & Gamble Co.
7514
Dis July
213n Mar, 2001 (11) 2003 (L. 2001) MAY
Pure olt
2015
Armour
10
Sept.
43
1854.
2011
|
Baldwin-Limadim.
Baltimore & Ohio
Corn, No. 2, yellow
Bandix Aviation Corp.
4933
Shell elt Co.
Spot
Benguet Cons.
Frint Reg. Payer
4211
Mar.
"ITAURA"
"OZARDA"
101
7114
Sinclair Of
May
1
Roerny Vacuum
July
South Porto len Bimar
Sept.
Southern National Cas
Nov.
Standard Brands
Southern Railway (Com.)
101
Bye
417
Diar.
4436
Stendard Oil of
ME
May
56
Standard Olf of
10
Standard Oil of NJ.
Dala
144
Sterling Drug Co.
02
Mar.
1202 12015
0432
"ORNA"
"ORNA"
due 18th Feb. sally 17th Feb, salle 13th Maz.
Blokely-Var Camp.
16 May
10
Hudebaker-Packard Corp.
Baricy
60
Switt. 8. Ca
Texas Co.
4252
111
451 Spot
Tide Water Assn. Ou
3316 73
New York flour,
200 lb. Back
Union Carbide
Hoybeans, No.
130-1400
$13.00
548
348
2410
Tuke belleves it is. 11 | was probable, he said, that present conditions many more vacant jobs would be recorded at labour exchanges if there were any chance of applicants |being ovõilable for them there.
Strong Emotions
Bethlehem Steel Boeing Airplane Borden (The) Co. Burroughs Add Machine Canadian Pacific R. Case (3.1.) Co.
IT Financial Corp. Celanese Corp.
Cal. Tractor
Chase Manhat. Bank Chile Capper, Chrysler Motors Colgate-Palmolive Co. Commercial Credit Commonwealth Bles, What is being done to correct Continental Oil of Del.
Consolidated Edison this situation? Government hns Continental Steel put main emphosis of its dis- Carn Products
Crane Co
intallonary polley on the credit Crown Zellerbach "squeeze but Mr Tuke and his Cuban Amer. Bugar
fellow bankers have little faith Sartia Wright in its efficacy.
"
the
Diamond Alkali Dow· Chemica Dupont de Nemours 'The "gilt" fell as much as Olls cased throughout
Mr Tuke believes no remedyman Codal 1944 £ in some chats. War Loan | gession. Royal' Dutch fall will be found for present Tris X1 Payo" National Gar was in the government's bittle about
Ecle Ralliant***.. Burinah andation' while there is over-fullmily, Finance Corp. £4, and agginat inflation. Recent weak Shell Transport also showed employment "however much the duppal flecule ness in Wall Street was another weakness,
advance of the banks may fall dinerat Foods factor.
upder the pressure of the creatinerat Moltre Pront-taking hit gold shares squeeze because other influences aillette Enfety Bazor
Put thi Among industrials, US favourites such 故赔 Hudson's and drove them lower. But will have continued to pull andden Co Bay Unllover tended basler, capoors were drm, reflecting the more strongly in the contrary Goodrich 18. Fi Co
and
Med | Goodyser Tire Valv although valuing was mull meals abortage in the US. Other direction.
"Cheinical Homayo Miking Go, One of the difficulties of Ingwol-and Mywart & Lloyds was a bright mesele were dyll. spis in the riétiä das Ins Foreign bonds moved narrowa | finding an answer to this prob- Liland Steel Co.
lyin quiet dealings. Dollar lem is that discitasion of it, even in Fusinas Machines
Interchemical Corp.; dirtable gatis in its section. stocks, weakened.Unlied Press, on academic to, laval, always Fat Harvester --1/ip-
109
Twenty Century Fox Flim
Union Preifle Railway
564 || United, Alegrafi
T
化
U.S. Line Co.
US. Rubber
2DA. Smelting
11.8.
Steel
Warner Bros.
Westinghouse. Electric
West Va. Pulp & Papet
Woolworth
17834 Epot
JATL
50 May
Sept.
Exchange Rates
Bulistan was done in the 1000)
Vardolist (per $1)
Berling notes (par,
(par 100)
Australia upter. (per 2 1999 Indonesian." rupiah Biam Heal (per 100).
Mar.
Jul
---United' Prom,
London Foreign Exchange
Jan. 23.
-13/10
for Jupart
for Singapore, Madras. Colombe, OMBAY & Karackl
EASTERN & AUSTRALIAN S.S. CO., LTD..
"NELLORE"
“ARAFULA”
៨ផង
4th Feb. from Australia all sth Teb, for Japan
due 4th Feb. sat 6th Feb.
from Japan't-
'for Sandakan, KANAUL,
Frisbie, Bydney, Melk · Bourne & Adelajdo
All vessels have liberty to call at any ports on or off the route & the roule à sailing are subject to change or amendaigus with or without notice, i
For full parliuturs apply to...- MACKINNON MACKENZIE & CO. OF HONG KONG LTD. Ich phòne M: 27721-4