THE CHINĄ MAIL, WEDNESDAY, MARCH 28, 1956.
TRADE and
COMMERCE
WORLD Canadian Trade Boom
RUBBER
MARKETS
New York, Mar. 27 No. 1 Ras rubber futures closed today 30 to 30 points higher with sales of 518 tracts
2011-
The standard contract closed 30 to 06 points higher with
sales of two contracts, suvelv ing an exchange
of May vid
for Muy new contracts
points difference.
ul 20
Most of the termina) business
Chicago Grains
Active
And Firm
Chicago, Mar. 27 Grains were active and irm allghtly lower on the Boord Trade today, with wheat,
September
was reported t be of pecul
sive origin with dealers interest
to
ul
market ball way. Part of | 139,
operating on either akde of the
eurn
and
orals
Continues HONGKONG
FUTURE PROSPECTS
DEPEND ON
NO U.S. RECESSION
Ottawa, Mar. 27. Concern among high Government Canada can highs for the authorities as to whether
continue to hold the line against inflation selling and throughout 1956 is underlined by the preliminary trade figures for 1955.
the yint was attributed to September and December
of failure the
the market to fully follow through The setback of Monday.
TELLITE,
deliveries Q1 scaled al new season, with
trading at new
Dinst
4%0 soybeans
for the Factory buying continued on tighe
hedge strielly
seuttered roothe dealers sud Spa No. 1 Rss profit-taking being attracted by weje protest nominally 32 ents the advance.
pound.
15
Pare costs Were
basis,
That buying of new erov whe
wheat
af moisture over of the southwest plus unfavourable foreign rup news.
It is evident that the country was able futures was influenced to avoid inflation last year chiefly through an enormous increase in imports from the United States. The already heavy excess of American imports into Canada over Canadian exports to the United States increased by 42 per cent during the year.
Nu. 1 Ras
1
by the lack
May
JN 945-31 93
July
30
T
September
30 33
Standard
t'untrack
March
30 Ta
1
Max
July
Supiterie
Incestry!
Maren
Alles ope Ding he wen kel covered.
14 201
1981 7701
SINGAPORE
1.
41-
ht
cover my but later
Alter
eling from
11
les 1. 90
Posing
J
Fartin
: է .
Apd
Feltation
No *
Apt
16
J
M
H 1
ALE
Na 1 raphalest
A
Meet runden sinbizlerl
Banket cepe
No pake
א, וי
180.000
Dennozak purchased bushels of US soybeans April/May delivery, and
KATY
requested offerings 400,000
bushels of U when for April/ May
CLOSING PRICES
Prices per bushel in early
Wheat No, 2, red
w
WWW H
2265, 14
27.
Jarks
240'
2.
The gal
207- 2001- 213
214,
fa i
spot quted as 24k per tire per ih
, ;'ז
איייי
Tait
Cod, No. 2, yellow
13900
Its fact. Impala (retn Si Throughout 1950. authorities United Staten represented Ilth bere anticipate marked thxt- Hess than 73 per cent of Canada's | provement in the balance, with i foreign purchases. This was British exports in the melai!
rising. made possible by a large inflow categories
notably of American capital into Canada, machinery, as well as chemicals, particularly to investiment The maning m. petroleum plation telets
Vulnerability
(x-
the
On the export side, there was 149 In large increase in the absolute
138
14216
Th
11,
K7 Bu
*1
TEAT
BAYI 190
LONDON
200
Ma
..
Arvids
Har
M
Fl
101. 120-120
21-27
Dak
VAL 20
M..
July
04-00 051
2-201
115-291,
Soybeans No. 2, yellow
247-25
Aprit
May
Apri
20mm -20405
Jus
May
201-28-
Sept
June
20-2'.
Nov
3
Jam
iniek unggutes
United Pre
Harley,
Spat
260-250 207'' 270112 25120, 24-4
24624-247
130-140z
No dit
Jer
datz-Semeandows
January March
General markela vid basZIS
London Foreign
Exchange
New York Montreal
Amsterdam
Brigits
Frankfurt
1.1132
Parta
Stockhalth
Zution
London, M 27
New York flour
2)
Back...
$13 804
WINNIPEG PRICES
Prices 28-7/10-280, today
2001-2 80-3 vá | follows:
10 65) 1-10 837,
139 86-139 12'
11.72-11.124
80 05-10 20
904-084),
Eithers were unelonged
14 027-14 33
12 231-32 201
New York foreign exchange tĒC
wete valable Grates Per
Exchange Rates
Thisness was done I the neni anonical exchange anathet warning at the following rates
US dollar per $1
Sterhag naten iper
LT
Australion botes get £1
Indonesian rupials per M
Soon teal (per 100)
Singapore
(Straits
Dals
Mas
SALLY
1201
112
Total
Canada "[
salvs Tu
United States, which continued to take no less than 80 per cent fot all Cunadum exports.
14 A recession In
STOCK EXCHANGE
(From Our Correspondent)
Business donc on the Hong- kong Stock Exchange this morn- ing amounted to approximately $350,000. Neca quotations c
the morning's transactions: SHARES BUYERS SELLERS BALER BANKS
I lank... 1660 1675 20 1070 East Asia
210
INSURANCES
Lombard... 3015 Underwriters
DOCKS, ETC. K. Whart Dock XD Provident (0)
XD Wheelock LAND, EFC
HIX Hotel AIK Land Humphreys
BANDER
A Rubber IFTULITIES
Tron XD Yinatt Perry
B30
72 32.60
13,10 13:40 500 in 13.20
8. 8.50 2000
533
16.20 14.34
ANY
200
30%
10 B00 300
17.70
150 1 du tande i 155
ឆដ្ឋទ
100 102
C. LINDI 109 2110 2130
SECTION
AUSTRALIA'S
PROBLEM
wors
Canberra, Mat. 21. Primary industry WAN unlikely to solve Austraila's balanes of pAY- menta problem. the Governor of the Common- wealth Bank said hero to- night.
Australia must look now to manufacturing industries to grow to maturity and turn her attention, at least fa part, to producing over-
SCAN.
To earn currency over- weas, Australian Industries would have to match and surpats tho emolency of competitive countries. he added. China Mail Special.
1956 WILL BE
GOOD YEAR
FOR FORD
Detroit, Mar. 27.
The Ford Motor Co. said today it is doubtful if the
21 suauto industry will be able 10002150 to match 1955's sales and
1200 21 49
F
Page
New York Market Hit By
Sharp Downturn
New York, Mar. 27.
Stock market valuations were pared more than 1 billion today in a somewhat sharper extension of yesterday's downturn. Industrial shares lost 3.74 on averages, rails 1.28 while 670 issues were lower out of a total 1,201 traded. There were 287 higher for the day.
Trading fell off on the down- turn which was seen as n normal technical selback after the recent run to new all-time highs
Industrials
and quantor- | century highs in ralis,
Turnover totalled 2,540,000
B
| shares, compared with 2,720,000 yesterday and smallest Hince March 8.
Copper shares, with the added pressure weakening price structure and growing concern that the metal is being priced jout of the market, slumped 2 to
more than 4 points.
Wide Losses
Kennecott Just 432 Inspiration
Anacosta. Magame, Copart Photos Baby **
Miami
10x) 21.30 production pace this year. Crno De Fuses around 2 vacht.
In steeks. Hethlehem Tell
15020.76
The annual report to stock-nearly 2 300 on 20 holders,
signed by chairman Chrysler feil more than, 54
70
Ernest R. Berch and president point in the motors. Henry Ford 11. noted, however,
There were some wide losses that 1956 will be "a reintively in chemicals acurly 3 in Allied,
ene! in Du Pont and Monsanto
140 in (
Electri
29.70
and
litn Масла дет
401 (N) Telephone X.ALL INDUSTRIALS Cepient.. Rape STORES, ETC
Balty
900
11.30
121 120 350 37 40 10003 17.10 3017 20
After the United States
United Kingdom, Jap standa u third place as an ex- tied with West por market. Germany. At $1,000,000 dollars
£30,300,000 sterling).
maneer
Most remarkabte has been the j
in which
hus Japan Barrowed the gap in Trade with Canudo.
In 1953, Canada was selling to nearly ten times as much Japan as she was buying trʊm her. namely 10,000,000 dollara
The vulnerability of Canada American business ts, therefore, evident, ance at would not only cul down Canadian export sales but would 12,000,000 dollars reduce the likelihood of Amer-sterling) worth,
jean canital flowing Into Canadu
leady voluma
22 20
2K 220 good year" for Ford.
As reported previously. Ford 34% 34% 1200 un 30%
emmings rng up record sales, 15.80
and production in 1955, the big- automotive gest boom your in history.
COTTONS
Textile Corp 5.20 $40
7.40 Nanyang
MISCELLANEOUS
Yangtze
Alled
0.70
5.10 620
(£30,000,000 sterling) as against New York Sugar
(£4,000,000
Was
The unbalance
Canada serious in 1938, when
dollars 01,000,000 With these cavonis tor the sold
£30,300,000 sterling) worth of future, 1955 can be written down
against 33,000,000 goods as (£11,000,000 sterling). But the rate of reduction
bren has phenomenal, with Japan selling a wide list of goods "across the board" without undue emphasis on any one commodity.
as the record peacetime year in Canada's foreign trade, with at for
least short term prospects 1956 remaining good.
In the overall, foreign trade was up 13 per cent from 1904 and per cent from 1953, the previous record year. Total ex- asports
months) (for 1]
(about
Winnipeg. Mar. 27 of grain futures closed
cents per bushel
NA.
72
| 4,391,000,000 dollars
£1,450,000,000 sterling)
were
Prospects
Market
to 2
LOWER SALES The two Ford executives said. 1905's strong showing was the result of
pro- jung-range
when Krumme begun in 1946, the present munagement took
over.
sales
2.
Based on present indientions, and production will be somewhat lower this year, the report said. New York, Mar. 27.
Ford, one
of the nation's futures three biggest World No. 4 sugar
industrial money closed today unchanged
пер income lust $8.10 points higher with sales of 10 carners, had
or year of $436,990,975, contracts.
on share, Domestic No. 6 sugar futures $5,504,022,074. In 1954 it earned G share. closed 1 point lower to i poin! $227,638,870, or $4.31
and chalked up
sales higher with sales of 248 con- tracts.
$4,062,330,608.
The
a
suleg
In olls, Gulf fell nearly 2. Aluminium shares were mixed with Kaiser af nearly a point, Aluminium down nearly 2 and
Aleon up more than 1
Activity centred in Boeing, Sperry Hand and Panhandle Of.
New
York Stock Exchange
bond volume was $4,000,000.
American Stock Exchange volume was 1,430,000. Dow-Jones closing
were:
30 industria諌
20 sil
10 utilities
13 stocks
40 bonda
Corum. Buture price odex
Inland Steel Co. Interchenical Corp.
Huthee Machines Int'l Harvester.... International Nickel' International Paper Intl) Tel, & Tel. John-Manville Cn. Kansas 4 Power & Lighi Kennecot Copper Liggett Meyers Tob. Co. Lockheed Aircraft Loews Incorp Lone Star Cement Co. Louisville & Nashville J Lowenstein & Son Menali Iron Corp Minnesota Mining Mist Developmeni Monsanto Chenilen) Co Mantgujnway Ward Motorola Inc. National Cash iten "A" National Dairy Prod. National Lead
National Steel „Coin. New York Centrul
Otin Mathieson
o Elevators
Owen Illinois Cilias Paville Gas & Hec Parle Western Di
an American Alewnys Paromaant Pictures Parke Davis Co.
Penny C Penn. Salt Co Philip Morris
Co
Procter & Gamble Ce Pittsburgh Pint Glas Pabllokep Industries Pure Dil Halo Corporation
publie Steal
fteynojde Metal Shot on co Sunt Reg. Paper Sinclair Ou South Puerto Rico Sugar Sueony Mobilul
Southern National Cas...........
Southern Railway (Com. Standen! Brandy Standard Oil of Cal. Averages Standard Oil of Ind
Closing Prices
Standard Oil ct N.J. 300,68 Sterling Drug Co. 170.17 Stokely-Van_Camp.
Studebaker-Packnit Corp. 150.075wift & Cn.
6140
08.61
Texas Co
151.75 Tide Water Asm, Oli
Alden Inc. Acy.
1 21
of
Allied Chemicals
140
Allied Wifia Inc.
3)
Allis Chalmers
723
American Airline
252
of
Am. Mach, & dry
American Cyanamide Co.
714%
20
American Metal
61
foreign
Ainerican Smolting
American Tel A
1046
American Tob. B
Anaconda Copper
Arnico Steel"
Baldwin-Lina-Itam
Armour
sales
Baltimore & Ohio
|
company's Trade buying orders pre- salca also boomed in 1935, dominated In both markets rising $205 million to a total of with underlying sentiment $1,275 million. Only $281 On the import side, Venezuela, influence d and
by steadiness in million of the total is included totall Imports 4,712,000,000 due to her ud production, rank-
主题 the consolidated dollars 1.570,000,000 sterling), ed third with sales of 175,000,000 sterling). dollars (£56,300,000 This compared with Venezuelan purchases of 31,000,000 dollars sterling) from
Some new trends appeared and some existing trends were em- |phasised. with direct bearing on 12mediate prospects. Most not-
able was The increasing
pre- dominance of the forest mulus- tries in Canadian export kels.
Ryc
303
auf
| 19
Bet
Burley May
1340.
1017
July
12. HE
Flaxherd
May
42113
A 83
July
15 80
12 42
17 20
20.70
120
4041.
{ན་ ་
No. 3, 10544
Hold Up Well
חון?
* £10,380,000 Canada, a Agure which may be Increased but is wholly unlikely to norrow the gap much,
ycar
for the Surveying prospects rest of the
Mr Marcel Landy of the international trade division of the Dominion Bureau jof Statistics, reaches a cautious
conclusion:
Newsprint was at the head of the list, with 400,000,000 dollars
fellow (£222,000,000 sterling)
that "There were indications cents; Wheat,
byt planks
and boards.
the
Just in
ahead months No. 5. 132 cents-Unitex Press, ed
385,000,000 dollars (£126,000,000 economic activity in this coun- Canada's main sterling) which are now ahead try and among
338,000,000 of wheat,
dollars trading partners, especially the (£112,700,000 stering) follow-United States, would continue at forest product, a vigorous pace. ed by another wood plup. 207,000,000 dollars
United States Steel Corp. Record
New York, Mar. 27. The United States Steel Corporation reports for that 1955 was record-breaking year
a shipments, sales, incomes, wages and dividends.
Sales reached a record level of $4,097,700,000, shipments rose to 25,500,000 tons in a new annual record and earnings reached $370,100,000 or nine per cent return on sales.
However, in its annual report { issued here warned
economy.
To meet these
| (£208,000,000
sterling). giving
the forests credit for three out
of Canada's Arst four export
earners.
Coincides
that
rows.
Futures:
Contract No. 4 (world)
May
3.30
July
30
Sept
Oct.
3.30
Mar
3.0
July
3.30
Spot-cents
pcz
Toba
Cuba)......
3.32
Open interest: 1.300 contracts. Contract No. 6
Mary.
5.40
July
5.51
Sept.
4.60
Nov.
B 5B
Spal-Icesta per lb, eif NY
ex-duty) *
6.30
Open interont: 3,177 contræets. United Press.
Agure
Press.
for the year.-United
NY COTTON
FUTURES NERVOUS
see-
New York, Mar. 27, Cotton futures today sawed
Bendix Aylation Coru,
Benguet Cons
Bethlehem Steel
Boeing Airplane
Barden 17ha) Co
Burroughs Add Machine Canadian Pacific R. Came (J.) Co.
C.LT. Financial Corp. Cal. Tractor Celanese Corp.
Chase Manhunt, Bask Chrysler Motors Coca Cola....... Colgate-Palmolive Commercial Credit Commonwealth Elec. Consolidated Edison
nervously over a range | Diamond Alkoli
of $1.50 a bale in sprsmodically active dealings.
Alternate rallies and declines were associated with con-
NY COTTONSEEDtinuing uncertainties over final
outcome of the long-debated farm bul.
Closing on a reaction the list showed net losses of 0 10 13 points. Opening prices were off Orleans points, New 2 to 9
14 closed unchanged to off points.
Volume andi open interest
OIL
the
New York, Mur. 27. Prices of cotton seed oll futures closed today in cents per ib, as follows:
May
10.06
July
10.01
Oct.
18.00
Dec,
15,02
were:
Jan.
18.20.
Month
Volume Open interest
Mar
10.10
May
10,800
340,300
Sales
totalled
313
contreinere
July
20,500 200,200
United Fre59.
Oei,
10.600
307,300
Dec
20,000
$47,000
Mar.
May
July
Total
"Barring a downward trend t
likely
Canada's Of these, both newsprint and seems wod pulp should hold up well foreign trade will carry over nt because of world demand
Into at least but high levels and boards
planks may face early part of 1958,"
This coincides with à rather difficulties from reduced demand flowing from Britain's austerity widespread feeling that Canada's domestic boom may continue programme at horne,
of the year, On the other hand, wheat throughout most sales were low again last year but that it faces a slowing up and the general antlelpation in in pace-China Mail Special Canada is for improved world demand, although not enough to eliminate this country's hugo
carryover.
Other commodilles among face costs, the Canada's top ten exports
The Corporation prices of steel mill products good market prospects, such as copper and that two basic "roots had been increased by 110 per nickel, aluminium, of the inflationary tendency" cent in the same period but the Iron ore.
On the import side,
all the had appeared in the American | Corporation's Income as a per-
de- centage of sales was less in 1035 top categories foco strong
machin- mind here-non-farm than in 1940,
ery, automobile parts, petroleum, farm m- The report said expenditure electrical apparatus, for additions and replacements plements and aircraft and their of Inclities amounted to parts.
Costs Increase
$239,800,000 last year, slightly Domestic Boom
The first of these roots, the report said, was the effort of big trade unions to outdo each more 'thon ita 1004. An other in
securing wage and estimated $530,000,000's worth enot interonses. thus raising of authorised prbjects remained employment costs in their respecto be completed at the end of
Wve industries.
1935.
The other root wns the Government's full employment Civilian Demand polley under which "the money
aupply must be inflated fast
nou
tho to accommodate
employmont
London Markets Very Subdued
Lonnon, Mar. 27.
Stock markets were very subdued today, waiting for the official economic survey which appeared a good half-hour before the market closed.
It was gelm reading, with well above the lows they had picture of the current inflation reached.
تعلامال
0,800 139,300
15,200 100,200
17,400 $1,500
113.300 1.020.000 bales
NEW YORK
Prices of futures closed today us follows:
30.000 35.53
Spot
May
July
Oct.
Dec.
Mar,
May
July
NEW ORLEANS Prices of futures.closed today as follows:
Spat May July
October Decomber
March May July
Trends in the direction of trade, apart from the United Stater, were interesting.
of prices, of prices and coBis Wall Street's overnight set... The United Kingdom's share ill rising, of Imports still back syar reflected in In Canadian exporta rose to 18 much too high and exports not stocks though not excessively,
LIVERPOOL at 760,000,000 dollars yet high enough. {per cent,
German Reich Loans werd, Future closings, in pence per £230,300,000 sterling) while The demand for steel products proportion of Canada's im
kelle and unchanged but the two, were as follows: First effect was a temporary | Potash bontis 'improved £1. Old contrast. Mar/Apr. May/June cost, continued at
high rato
or exodus from Government Ameng Japanese, Tokyo Elec-
JHIY/AGE. lest that mounting cost being throughout the year and "of porta dellto per cunt,
with most of them
tric
both arented and, note Now contract May/June about its natural result of pric-particular significance is the 372,000,000 dollars (£124,000,000 slocks
July/Aug. mio Det/NUV...... ing some people out of their fact that record sales of sicel inner). This there was a 10 showing declines of one-eighth aschied, fell £1, Russian bonds
or one-sixteenth,
Egyptian Karnak Mor/Apr.... though aven'
only 1055 were almost entirely due per cont rise in Canada's
met profit-taking and foil free- balance, already, sovero temporarily," the report said.
In the United States, the to civilian demand."
Special conditions. In Britain Industrials were haphazard tonally, Corporation's employ-
their movements The provious record, made during 1950 accounted for this in
Royal Dutch enjoyed a le average price of 15/10 middling ment costa per employee hour in 1089 Included o large the domestic boom
which Unilayer down 19 3d and Vickers of threo-eighths, styling while cotton at 14 designated spot had increased 218 per cent pipes military requirement for steel heightened demand for Canadian up 3d. Tobaccos were work both Shell Transport and British markets was 30.64 conta. Sales bales,United 1940 and similar rises ) been the report added.-Chinn Ball products and gave little incen- though a spot or strong buying Petroleum Improved 100,- totalled 12,011 experienced in other costs, Special,
Live for: txports to Canatla, just before the close lined the Unnisd Preis,
jobs,
Tho
un-
·with'
Pros.
49,45
Dow Chemicals
Dupont de Nemours
Twenty Century Fox Film Union Carbide ....... Union Pacific Railway United Aircraft
V.S. Gypsum
V. s. Line "Co.
H.S. Rubbar..
UB. Smelting
U.S. Sterl
Warner Bros.
Westinghouse Electric
West Va. Pulp & Paper Woolworth
4
341
-United Press, 1
Singapore Stock Market
Singapore, Mar. 28. Brokers today quoted the fol
10 lowing stock prices
73
120
Bati Liang Rubber Co.
TAD.
Opening
$1.50
Ga
BritLab
GOTA
Byndicate
42/L
43
Consolidated Tin Sinekern
457%
Ord.
27/34
Continental Out Del,
11992
Crane Co
Fraser & Neovo Ltd. Ord. ....... $1.72
41
Fraser & Neave 71⁄2 cums
Crown Zellerbach
prot
$5.00
Cuban Amer. Bugar
101
Hogkong Manghal Bank-
5015
ing Corp.
$1065
223
Hongkong Tin Eti.'
3/341
Kempas Lld,
$1.00
Lunas Rubber Estates Lad." Malayan Breweries
$9.77
New Berandah Rubhou
$3.30-
Co
$1.55
Peloling Tin
Rames Hotel
$4.35
$2.50
Beuth British Insurance Co.
Ltd.
$27.50
Etralia Trading.
Straits Steamalijp United Engineers
$14.00
Ord.
$8.20
Wearne Bros,
$2.80
Enatman Kodak
El Paso National Ope Eric allroart
Family Finance Corp. Ford Motor General Electric General Foods General Motom Gen. Pub. Util. Glidden, Co.
Goodrich (B. V.) Co. Goodyear Tire Herden Chemical Homalake Mining Ingersoll-Banui
Ltd.
Singapore Cold Storage
xd.--China Mall Speeini.
Let US handle
YOUR PRINTING
Too many proofs mean time waited.. We grasp the point at the onset, and ONE PROOF generally suffices.
After that, our up-to-date automatic presses make short work of the job.
Let us quote for your
requirements.
current
SOUTH CHINA MORNING POST
PRINTING DEPT.
For printing of every description Telephone: 20002