Page
THE CHINA MAIL, THURSDAY, FEBRUARY 1956.
TRADE and COMMERCE
TWA BEGINS British
British Inflation Bar PARIS-ROME TO Convertibility HONGKONG
SUPER-G
SERVICE
Intercontinental
flights
operated with long-range multiple-service Super-G
Constellations, linking Paris and Rome
with United States ter-
minals,
are
now
inaugurated by
World Airlines, Mr E.O. Cocke, TWA sales
vice.
president, announced to-
day.
UNABLE TO ACQUIRE ENOUGH
GOLD AND DOLLARS
directly
being Trans
Grain Chicago
Futures Irregular
Sky
Chicago, Feb. I. Grain futures were
ir. regular with lower under- tone on the Board of Trado today.
The new thights mark the th
Service to these European enyn į
Al with thes maltgoless vice
Super-G, th<
and mest
most luxurious
VITsalie aferaft
the skies today, providing both
xt-
and low-fore
Tourist accuriruodations
TWA l this service with ther flights weekly
rection.
1ft
As of March | TWA plans to extend the new Super-G 101- alt ''('Th New York and
to art freem Print Home
Direct con- California pections to the West Court he now ymddable New York.
1312
most
New York, Feb. 1. "British inflation poses the obvious obstacle to greater dollar-sterling convertibility," according to Fortune Magazine.
But 'eyond this, Fortune said, "looms
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong kong Stock Exchange Uis morning andunted to $410,000.
Noon quotations and the morn-
ing's transactions:
#HARES DUVÉERS BELLERS BALEN
DANKS
Ink Bank
Union Lombard
a secon roblem that has received all too URANCES little attention, namely distribution of the world's resources.”
The article continued:
"The fact is that never since World War
ILA Beturn
Dealers said some of the soll-managed * nequite sathewal gold and dollars to make a com- was based on lower partly prizes 200ounced yesterday, but fortable tranzition to full tollar Be derlines were checked to convertibility Some extent by large pending export business in whent.
cor.
beti. Jard and cdilate mila New crop wheat futures were Laler in the vem TWA will hit by reports of further bene- multiple-serviry Bend moisture over must of the extend the
Winter wheat brea, with mor Super-G nights in Cairn
stuva forecast,
Athens.
1711
Agrivulun Dasturent Intern; tro routers predicted today that record sujet
Constellation Super-G
Filber of fred robis will boost the to three plan adapts itsolt
at the raid of the 1955- of service of 58 Park.
10 44 ulion tons, Types
Berth fully-
in spite of higher rate of food with seu tr
Top rat teger exports, d Jorw
On TWA
readily
distinctive
the some aircraft
reching sleeper extended
Jeg
t¢*s1¥
Yous
budget tourial souts. The Super- The agency note that corn
Is in whose
д til
"And today the sterling brea
The position
bank Hquid resources Are * mpy teo more to brime the volume of business that expected of 1.
Sterling Area
14
"Whereas in September, 1965. countries of continental Western Grope hat awrly 13 bill of
dollars, the entin Kold and |sterling area had only some
billion.
4.
Even This estima ol the is the only airplane flying the Faver has ir mained compira. the Atlonlk to permit this. fivers table my Evcent years, In Trade Board is on the optimis-
Leutbarks, in schrag and
New York Sugar
Market
New York, Feb
#
The world No. sugar futures closed today 2 points lower to pout higher with sules of meyen contracts.
+tion
acreage force boomed planling of bat, barley and ghuma
When desert liga 3% to riff 1 cents, suvicans off
11,
COTES
Free. per bushel in venis, Wheat, No. 3. red
Spul
Mae 2024
May
Jvely
Sept
Now
217
2120
2123.-24. 2071-200 19G-END
2-2013
The domestle No. # Sugar futures Contract closer un-Corn, No. 2. yellow changed to point higher with sales of 18 contracts.
Activity wis hurdiy bought
1284.
100%
130
13944
11
Mars
Ju's
enough in
develop
[I
either market
truding
to
Now
feature.
ilye
Futures:
M.T
124
May
!21
Oats
3 24
1.
Contract No. 4 (world)
MAL
Boybeans. No. 2, yellow
March
May
lolit
Scut.
129
Del
3 20
Sout enla
per
It,
Cuba).
328
Mor
May
Contract No. 6
اورزانه
July
CO
tie sule, since it county in re-
.. 1749 1755
SECTION
US Navy Tanker|| WORLD COTTON
Programme
Washington, Fab: 1. The Navy announced to- day it will chaster for 10 yeam 14 tankers to be bulli for private companies in US shipyards,
A
to
The linkers will be bulli under
programme riimulate private cétistruc- tion and give the Navy a fleet of high méed fankers.
· Each ship will cost roughly $1,500,000 to $8,000,000, a Navy spokesman estimated. -United Press.
NY
COTTON
BUOYANT
START
PRODUCTION
NEW RECORD
Washington, Feb. 1.
The US Department of Agriculture reported today that world cotton production in 1955-50 is now estimated at 40,3 million bales, a new record high.
Of this total, the US is expected to produce about 14.7 million bales; non-Communist foreign countries, 16.4 million and Communist countries
9.2 millions, the department said.
The upward revision In the bales below the 3.4 million bales 1955-56 estimate of 400,000 bales shipped abroad in 1854-05. since last November forecast was
result 41
Mexico, Spain
of
larger
is seasonally
usual
mainly
Domestle mill consumption, ou estimates for the US, Syria, the other hand, has increased
Did Tanganyika, more than which more than offset lower since Jasi August and the total production In India, Pakistan for this marketing year is New York, Feb. 1. Egypt, Turkey, Argentine and peeled to be about 9.2 million
bales.
bales up 400,000
last toxiny Nicaragua,
marketing your.
the mal-
liquid
SUPPING
Asia Nay 1.0715
3000 1.10
Cotton
nettled
futures back
irregularly!
serves held
by Australia, New Zealand und other countries, The liquid reserves of the sterl- ing pol held by the Bank of Englund are now just over billion."
tr
ener
DOCKS, ETC.
X. Wiart Dock
', 103 འ⪜༣
Provident (0) 18 20 101,
Wheelock .. 8.00 0.70 4800 + 8.03
LAND, ETC.
HK Hotel IIK Land (0)
►
17.40 1780 1200 17,40
83 63% 700
2
1 ta
INI
110 01
Arc
Resity
RUBBER
2 2.05
A. Rubber 170
21.70 +4 130
25 1500 m 24.60
80 100
300 22.80
200 & 17.20
sterling and dollar to be freely interchange- hie, much larger scurves art required to back up the pound, neconling to Fortune.
"Certainly, the US Treasury. which opposes a revaluation of gold at the present time, should consider this alternative instead of merely waiting... for some- thing to "turn up."
Sound As Gold
"It should go without saying. however, that the precondition for effecting this or any other plan for freeing world exchange is adherance to the principles of sound money through govern- ment economy, budgetary sur- pluses, and restraint of credit.
NY AND LONDON This applies in the first matance
SILVER QUOTATIONS
New York, Feb. 1
Handy & Hurman, bullion dealers, today raised the price of silver -cept to 90% cents a Ane LETICA",
the first price ihree
increase
! weeks.
121
ritores
than
On January 6 the price was ruised -cent tool, but on January 9 and January 23 i was cut cent.
Handy & Harman
four price changes have
reflected
10 Britain.
"It also applies to the US for only as the dollar Es kept us sound as gold can it act as a
Eur substitute
gold."Unite-1 Press,
UTUATIES
Tram
Star Ferry Yaumati Ferry 105 100 C. Light (0T 22 70
Light IN) 18 40 19 20
ر الله
44
40 22.40
500 12.50
300 17.0 1000 18.30
700 18.30 100 43.75 25243.75 500 43,70
after a buoyant start lifted! prices nearly $1 a bale..
}
Ilkely
Exports Lower
reported
Ex-
"The rate of exparts will prob
ebly be increased to that of the first four months of the season as the speelal export programme for 15/16 hitch and shorter cotton picks up momentum,“ the" rẻ-
port said.
The department also At the close the list ruled up that US cotton exporta for the 13
@ points. Opening | marketing to off
August 1835 year prices were up 2 to points. through July 1050 are running New Orleans closed unchanged at a much lower rate than the to up 18 points
previous year and the total 19 It noted that US government
to be nearly
a millonancing of culton exports com- mitted for the 1956/50 market, ing year amounted to about 343 million as of January 10. If fully used these funds will finance the export of about 1.8 million bales. In 1954-55 only 220 million wha expended for the financing of exports of AIKA 1.5 millim bales.
Early buyers lost confidence when the rally fallec to bronden, and
of an attitude enution increased pending Congressional developments on farm legislation.
Traders were puzzled by the lower parity price announced after Tuesday's close. Based on
a new formulo, It was 34.84 with cents a pound, compared 39.00 cents on
the old formula.
new.
Dec. 16, under
Etcelt
101
Maroo Elec Moceu
Elec (N). 8.30 Telephone
33 33.79
60
3141) BO
23.2 6.30
200 T 30.00
33.50
200
33.00
240
33 30
The
01 based on parity, is lationship
the last over yer's instead o the 1910-14 buse, as used in the past.
moderni:esi
ton
BIT HASTY
INDUSTRIALS
Coment
Rope
Watcon
$
STORES ETC
Dalry
18.40 19 1000 18!)
100 1044
12 DO 13
100 100
12.80
12.90
0.43 0
11.40
MISCELLANEOUS
Allied H.K. & FE Invest
Industrials And Rails
suid The This
year ordinary AN
The supply-demand Sluation.
prive moved up lodny, it sald,
Move Higher
In New York
New York, Feb. 1. Industrial and rail stocks
because of insufficient supplies higher today in increased turnover,
2471
2315
of silver to meet demand.
24314
#37
Sept
Nuy
Marsh
33-34
AIRY
5 37
Barley
July
6 40
Sevl
4,50
Spot
130-140n
Nov.
A A2
Spot-cents i to v NY
ex-duty)
Now York flour
535
200 1
rack
-United Press.
London Foreign
New York
Exchange
Montreal
Amsterdamn
Brussels
Copenhagen
Frankfurt
Milen
1.1.bon
PATI
Stockhoun
Zunch
London, Feb. 1.
2.00% +2.00%
2.00-2.00.7/10
$13.70m
WINNIPEG PRICES
Winnipeg. Feb. 1.
Prices of grain futures closed Loday follows:
Oct.
[p
cents per bushel us
In London, the price
77 pence 77 yesterday).--United Press.
WORLD RUBBER MARKETS
New York. Feb. 1.
The No. 1 Ras rubber futures
Foreign Consumption
The
department
ald
that
price re-contract today closed 25 points "foreign live world cultor 'pro-
to 50 points higher with sales duction is olimateci 121 10.4. of 20 contracts.
million bales this marketing
which will The standard contract closed season."
be abou lower 30 points
to 30 points | 300,000 સ than Estimated with sules of 30 con- | earilcy but still 500,000 above tracts.
the previous peusoti
Foreign free world consump.
market prices are-
Technicians thought Dirkel
Terminal decline after the parity report sawed practically In mixed ion is expected to be about the was a "bit hasty That coteric dealings between commission some us last year.- United Press. pointed out the basis for the houses and trade Interesta.
loan on the now crop, and the The sput market remained percentage of parity at which dull with buyers marking time. It will be supported, have not Spot No. 1 were quoted at 393% been disclosed.
Mathematicians, going atong
on
the "new
formula rate of 34.84 cents a pound enleulated that at 80 per cent of the parity, the loan for middling Inch cot- Lon would be around 31.37 cents a pound, allowing 850 points for the difference be tween 14 inch and one-inch
colton
wus
coupled Early Armines with the quickening dentand in
the textile
up- market where wards of 20,000,000 yurds of
conta
Futures:
No. 1 RK
March MAN
31. DEN
July
Sept.
Dec
30:05
354,20 34.20-40
New Standard Contract Murchi
May
July
07.30 35,80 34.50
Fly PAN AMERICAN world's most
Sept
Dee
32.70
Min
70
SINGAPORE
experienced airline
The market was quiet all day
No rubber per Ets
Ich...
print cloths were reported long and it closed steady on lack
Futures: Sooked, late Tuesday for third of sellers. and fourth quarter delivery,
The certificated stock held moved
unchanged at 13,051 balts,
Volume And
interest open were:
Trading picked up to 2,010,000 shares th from 1,900,000 yesterday.
olver was quoted today at 70% pence per fine ounce for spot
Olls continued to feature In-Chrysler Motors. and 70 pence
for
forward dustrials, with gains ranging to Colgate-Palmolive Ca. and (against
Commercial - Credit more than 3 points in Texas Co, Commonwealth Eloc Jersey Standard when-issued Consolidated Edison common stock topped the list Continental Quot tiel. on volume for the second day Cura Products
Continental Bleet
in a row anti
the old Jerary Crown Zelterboets
Cution Amer, Bugor Curtis Wright sharply Diamond Alkalt Rail, which rose yesterday on news that Santa Dupont de Nemours Fe wiil bo on a five-for-one Eastman Kodak
moved
Singapore
was steady.
Stock Marketp
Singapore, Feb. 2. Brokers today qualco following stock prices:
Unis
May
781%
July
723
Def.
3014-71
Styc
May
118596
the
10.82-10.02 139.65-139,00
July
111
Oci,
110
10.32-10.3276
Martey
[1.7292-11 73
May
101
BO.15+00.20
July
Batu Lintang Rubber Co.
1704-1703
DG
Lid
Opening
187
Beltish Borneo Petroleum
MIJA
Syndicate
Wheat No. 3, 182
cents; No.
30014
Consolidated Tin Smelters
Ord.
44/
20/34
Fraser & Neave Lid. Ord. #1.80 Fraser & Neave 7% main,
pref.
Hongkong
Shanghai
Hongkong Tin Ltd,
Kempas Ltd. .........
$5.35
6020 exi 7700 $2.03
082-13
14.52-145431 12.247-12-24
New York Foreign exchange
rates were not available today.
-United Press,
Most
Flaxseed
May
July Det.
5, 124 cents.-United Press.
Sections Advance
On London Exchange
London, Feb. 1.
Nearly all sections advanced cautiously in relatively quiet trading on the London Exchange today.
with a fow
Banking Corp.
Lines Hubber Estates Ltd. 24.12
Malayan Breweries............. $3.00
New Serandah Rubber Co.
Ltd.
Petaling Tin Ltd.
Taffion Howald Storm On
Singapore
Bouth
Britial
ly today.
more
DAIKOW-
General Electrio General Foods Senta Fo reacted General Motors more than 4 points on realising. | Gillotte Safety Razor
Glidden Co..... goodyear
Allled Chemical, Du Pont and Union Carbide
added around
a point each in the chemicals,
Anaconda
Kemecott and gained woll over a point each in In steels, Bethlehem, coppens. selling ex-dividend
lost a point on the day.
Chrysler and General Motors held steady
while,
Hoyden Chemical Homstake Mining Co. Interchemical Corp. Irt Business Machiner Int'l Harvester International Nickel Int'l Tel & Tel Kartans C. Power & Light" Kennernt: Copper
Higgelt Meyers Tob. Co.
Lockheed Aircraft over-the-oowa Incorp, counter, Ford Motor stock silpne star Cement Co.
the Initial Louisville Nashville A.
Minnesota Mining.
pid
a point
below price at which the stock was offered publicly last month...
New York Stock Exchange bord volane was $4,210,000.
Stock Exchange. American volume was 720,000 shares.
Monsanto Chemiest Co. Montgomery Ward National Cash Reg. “A” National Distillers Nationist Lut National Steel Corp. Now York Central On thewors
Dow-Jones closing averages, Olis Elevatorm
$1,95
$4.50 cd
112.15 $1.00
Insurance
$27.50
wero:
$20.00 91274
Industrials
$0.00
20 Tall
Buities
65 stocks
Co. Ltd... Straits Trading
Steamship United Engineers Ord. .... Wearme Bros.
-China Mali Special.
US Coal Exports
Doubled
40 bonds
Comm. It jure price index
Comm. spet price Index
Moody's index
Closing Prices
Aldon Inc. App..
Allied Chemicals Alljou Mila" Zrt.
Washington, Feb. 4. The United States exported Allis Chalmers
Olls opened firm and moved | shards)—almost equal to this thead on mostly speculative morning's bid price of 1843⁄41⁄41⁄2 per buying Royal Dutch posted a share in the US. gain of about seven shillings, British government stocks į while British Petroleum, Shell, held firm in quiet dealings and
advanced finished Burmah shilling or
Dround R1/18. any of 34,743,200 tons of coal last Amorial Canide, Co. more,
your, the second largest export umerican Motal Charges were numerous in Gold sharos the main body of Industrials. Coppets were story, while parteru
were trendlaw volume on record, the Coal Ex-American Sme
Armarioan, Pol. 3. but the general trend was firm, lead and dine shares showed today.
Assoolation reported marionn Tab.
scopde - Coppar repleted American buying lifted gains on the day.
Armed thei Borax. Hudson's Bay,
Armour The Association, sold dhe 1955 In the foreign section, Cler
Baltimore & Okto Uniloyer moderately,
Sonds export volume was more than rules. Cons.
the 1084 Volazno Holishers Sted (520) 10,118,3078 lone ask and. Webond diddytted oruzite she all-time rental prices. 42,818,840 tons exported in 1847.
United Prats,
British Ford Motors gained falshed betler, than a sliling. in ita
Amerkern
round 2117 2) sześc› Chong
Ford atendied to hirer, will str
Aya Unk
Pacino Gan & King. Pacto Western On 475za Pan American Airways 150.70 Paramount Pictures
04.06 Parke DAVIE CO, Penny J. C. ca
18: hình. Đch Lọ
151.78 Philips Petroleum
158.321 Procter & Gamble Co. 400.90 Pittsburgh Flate Glass
Radio Corporation
Republic Stevi
Volume Open Interest
19,000 43500
March
201,200
May
302,000
July
31.100
287.000
Oct
20.000
212,000
Dec.
26.000
$70,700
Mareli
4,000
70,000
517 May
2,400
40,200
July
3,000
8.200
Total
157,500
NEW YORK
Mar...... April
No. 4 rubber per ib. Feb. No. 3 rubber jer in. Feb. No. rubber per ib. Feb. Spot rubber unbated. Blanket cre ¡No. 2 pađe crepe
LONDON
108-100%
107%-107
unquoted
100-107
100-100
10215-1934 108-109!4 0315-979 118-119
The market was very steady with spot quoted unchanged ut
1,588,700 bales 32% pence. Prices:
Prices of futures closed today
as follows:
Spot
March
May
July
543 October 8016 December
43 March: 42 MAY
July
NEW ORLEANS
No. 1 e spot
Seittement hole term:
311%-22
March
314-31T
Apri
April/June
31s
July/Sept.
304-302
35.63m
Oct/Dec.
2011-20%
34.00
34.20
General maricela, gif basis, parte February
214-314
33.14-15 March
31.03
Extate crepe thin 31.32-35 Extate crepe thick 31.07-00
314-317 34 unquoted
AMSTERDAM
30.4M
The market was steady. Prices closed today in guilders
No. 1 rubber
|No. 2 rubber
34.40
No. 3 rubber
34.80
34.29.20
No, 1 erepe
13.00
31.50
3:42
31.10
Prices of futures closed today per kilo eit February as follows: as follows:
July
711 October
308 37
5014, Spo!
March
May
121
48
December
10
March
24
May
July
106
429
LIVERPOOL
Future closing, y penco por
lb. were as follows:
Okl contract Mar/Apr.
25.70 May/June .......... 29.99 July/Aug. 23,00 New contract May/June.. .20.05 July/Aug. Vi 27.03 Oct/Nov..... 27,00
Dec/Jak
25.45
Egyptian. Karnak. Jan/Feb. 10,40
SÃO PAULO
Futures closings, in cruzaicos per kilo were as follows:
Ty
March
MAY
Reynolds Metal
50 July
Sinclait Of
BIPS Oct.
Bócony Vhoum
584. Dec.
22
Biantara. Brands
tog
Standard Ol' of Cai,
of Ind Standard @QUI Storlinit Dig Co. Stokely-Van Come, Skaid
Bol
153
10
30.00 30.10 30.00
32.40
In the US the average price of 16/10 middling at 14 designated spot markets was 34.68 cents. 411 Sales totalled - 31,948, bales,
United Press.
Exchange Ra
Rates
· Bistrskog “véna döneriri, fie local
¡ market morning at the following, ente)
53 ifiafficiel, extcheruPO
Indonesias, Kiblai
Singapore
this.
3.07 rom,
3.03 nom.
3.01 nom. 341 now.
-United Press.
to
EUROPE
and the
USA
For reservations,
call your travel agent or Alexandr Hoàn, Phòng 1701 Home Rena
Peninsula Hotel, Phone 64005; Kowloon
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