THE CHINA MAIL, WEDNESDAY, APRIL 18, 1956,
TRADE and
COMMERCE
Commonwealth Savings Bank
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Deposits
Fall Off
Sydney, Apr. 17.
The Commonwealth Savings Bank at the end of February held deposits of £704 million, an
on the Hong official of the bank told the Sydney Morning Business done kung Stock Exchang This morning
proximately $170,000 No
and the morning's
quotations transactions:
Herald.
a decline, South Wales held about 45,000 £2.48 new necount: at the end
February.
This represented during February muthion less than 3 per cent SHABEN NUVERE BELLFÜR MALENGO! depositors' balanees.
BANKN
HK Bank
Fuxt Asto
1875 1000
221
INSURANC229.
147, JENNI
1
BDon
DOCKS. EN
K Wharf
Xi
73
17 300 70 200715
8549 840 140
140 40
Povident (0) 13 10 13 90 Wheelock
LAND, ETC.
HK Hotel
MK Land
100 1500 » 143
13 70 13 10 J 04:
Hangbewys
1710 17
Heally
1 40
1
RUBBER
Trust
VTILLITUS
Savings
The offioal was commenting
The Commonwealth on a statement yesterday by the
Bank now hall live milia Barsk
New South Wales (active depositors. Savings Bank that Is deposits
The oMelal said in the mix weeks to the end of
not all the February totalled 300 million.
deposited ເຄ private The Commonwealth
banks siner Bank savings
they olttelnd said the decline in de-opened on January 10 repre- positora balances In March nted "new money.”
would be "nowhere near" February Agure
کریں
| million--though รวม!!
were not yet available,
Not Concerned At Competition
Asked if
£2.40
the
"Much of it has been trans- ferred from the parent und. Aguring banks," he said.
Commonwealth
at
3000 2
Dank was concerned petytion f
Com-
Privile mavit
Traso
223022 0 Yaurati Ferry 100 101 2개인 ᄒ M
5. Light co) 22 20 72 40
Light (NÍ 18 40 10 70 1500
| banks, the olmal noid: "C'ertain-
>>
"For instance, in January and February, 1955. the Bank NSW. and the Australia and | New Zealand Bank had sub-
stantial inervases in balances.
In January and February of Thus you the trading balance of Li "Wales" wits
down 2.8 milion, and that of the A.N.Z. was down K24 million.
"Yet other batiks had bigger balances the est two mouths Di
200 14 201
ly not
10:30
100
1
F
imun Rts Mono Electric
(0) XU Telephone
2314 215
TR 00
BOU 221 Htv 11 NI
106
2070 | Puary
"We know that the big ellne in cate balances i
probably went
de- Feb- to the
you
132
737 12
334
Allied
4
10 70 15
1140
5 25 3 33
7.50
150
4.50
510
between
vi
private
£2m Housing
ума
Loans
new
New
110
Dr.
trading
this
of
US CREDITS
Washington, Apr. 17. Credits totalling $0,054.- 000 to toncorns In Brazil, Mexico, Colombia, the Philippines, Ecuador and italy
were announced by
Bank. Import-Export
the
The credits would be ati to by United States machinery and industrial equipment,
Brazil would receive $2.900.000, Mexleo 81,805,- 000, Colombia $200,000, Ecuador $310,090, Italy 299,000 and the Philippines $450,000 to nonist in various enterprises in each country. -China Mali Special.
WORLD
RUBBER
MARKETS
New York. Apr. 17.
The No. 1 ss rubber futures Contract today closed 10 points higher to 15 points lower with sales of 320 contracts.
The standard
along
WORLD
COTTON
MARKETS
today
New York, Apr. 17. Cotton futures moved irregularly in leas active dealings.
After see-sawing over a range of $1 = bate, the market clowed not 3 higher to 7 points lower. Opening prices were up 3 to off 3 points. New Orleans closed up 5 to off 3 points,
activity
Monday's
and strength, following Presidential vete of the farm bill, simeved down overnight as trada interesi awalted for the promised early announceinen giving details of the export programme for raw colton and the new Government loan rate.
would
be
SECTION
Aust. Wheat
Position Fairly
Strong
Canberra. Apr. 17.
:
Bir John Teardale, Chairman of the Aus- trullan Wheat Board, said today that Australian wheat
position
WAR
"fairly strong" and the msin problem was getting Abing
ship to move it overseas,
air John
fr
from
has returned the
International Wheat Connell meeting ot he held Gineva
Ле where
discussions with nation
tailves of importing
He said that the heavy damage to crops in Franeo. Belgium ATICE England could mean big orders for Australian xoft wheat.
"My
Board's
problem now seems to be not the getting of order for wheat but the ships to move the wheat overseas." Bir John said United frem.
CHICAGO GRAIN
MARKET
Chicago, Apr. 17. Prices in grain futures were steady to from on the Board of Trade today.
Heavy
buying during
ГРЕЕТ СТА
Page 9°
WALL STREET STOCKS
MOVE IN
EASIER PATTERN
New York, Apr. 17.
Stocks moved in a routine, slightly easier pattern today except for a handful of strong special issues.
Trading continued at a slow pace with sales for the day totalling 2,330,000 shares, only 20,000 ahead of yesterday's two-month low.
Early trading was firm but when no real demand developed moet inders backed down and industrials at the close were off 0.10.
Or a total 1,108 issues traded, 493
were off on the day, 409 higher.
Two of the best features were in olls-Gulf up nearly 4 points and Royal Dutch, nearly 3 points higher.
Sicels
were early upside leaders and held fairly well. Jones and Laughlin added more than a point, Armico nearly 1.
Aircraft Losses
Aircrafts
Tehnician calculate that under the minimum support base of at least 821⁄2 of parity, the average loan rate for new crop middling one-Inch around 314 cents a pound,
the Thus,
featured irreduccuble
on tho downside with early
losses ranging contract clused minimum rate actually would be
trading today carried most
to more than 2 points in Boeing. #5 points higher to 15 points higher than the three-cent drop
Motors were easier. American which Agriculture Secretary Migrains sharply higher, and al- lower with a sales reported.
Inter trade
Telephone remained
soft as continued Deating covering at the close, Benson indicated he desired though
with
the active,
Aulk continued of an investiga- markets gave up part of debating commission while Congress was some
farm bill. hours buying, absorbed most of the b A three-cent reduc- the rise.
tion of the company's influence Toward the close, selling and on Government. It lost nearly tion would have made the Jonn
a point on the day. rale around 31.55 cents a pound. proit-taking came into gratos,
New prices off to as
York Stock Exchange Pending now developments of and drop
dropped
four cents the loan rate and export pro-much as
a bushel
bond volume was $5,150,000.
American Stock Exchange gramme, traders proceeded su- from the best levels of the day.
Administration plans to boost volume was 1,000,000 shares. tiously.
Dow-Jones price supports for basic crop helped bolster markets. Demand for cash grnin, and continucl dry weather throughout southwest winter whent were also factors,
Wheat closed
The senttered bedge selling and small liquidation
Factory and other consumer DayDay la the local market ses mained slow. Spot No. 1 B was quoted hominally 324 cents
31.00-42.00 31.60-70
a pound.
Futures:
No. 1 Rs
May
July
Sept
1,00
Dri
20
Standard contract
MAY
July
Sept
Dec Mar
Mov
K2 8887
24
New Orleans brukers sold at the opening, then turn
d to the buying side, only to Bquidate again In later trading. Mill interest, cornmission houses, local traders and ship-
on wore identified pers also both sides of the market, appar-cents; soybeans up 1% to off ently ini routine evening-up 2 cents.
operations.
The ccriticated
dc- stock bales overnight to
14,200
11.200 304,300
313,000
DOKTER
Wert!
30 Industrials
closing averages
the
20 ralis
bell
15 utiles
09 stocks
40 band.
off to 14%
Comin. future price index.. Comm. Root price index...
CLOSING PRICES
Closing Prices
Alden Ine. Acy. Allied Chemicals Allis Chalmer
603.17
Otis ElevaLDIN Pacific Gas & Elec
Pan American Airways
Partie Wenter Oil
Paramount Pictures Parka Davis Co. Pera, Salt Co. Pittsburg Plate Glam
Radio Corporation Republie Sicel Reynolds Metal Sinclair Oll Socony Mobli Oil Standard Oil of Cat Standard Brands
Standard Oil of Ind.
Standard Olf of NJ Sterling Drug Co. Stokely-Van Camp. Studebaker-Packard Corp.
Switt & Co, Texas Co.
Union Carbide
Union Pacific Raliway United Aircraft
U.8. Gypsum US. Rubber U.S. Smelting US Steel
Warner Bros. Westinghose Electric Woolworth
United Press
New York Sugar Market
New York, Apr. 17. World No.
4 sugar futures closed today 1 point higher to 1 112.51 point lower with sales of 100 100.14 contracts,
No.
00.23
07.23
Domestic
contract 16444 closed 2 points higher to 1 point
lower
104.32
contracts.
with sales of 131
In world row, Japan was the accredited buyer of
aroun
10,000, tons of Cubans at 3.27
Job. 123 cents a pound,
In domestic rows, a
Boston
refinery bought 3,000 tons of. Philippines, due April 25, and 3.000 tons Cubas, first half June shipment, both at 0.05 cents a pound, dellvered basis.--Futures: Contract No. 4 (world)
SINGAPORE
crcased 00 ¥1,200 bales. Month
wn?,
The market cased on inek of from trade interest, Support There
May
Volume Open interest
35,000
July
May 236(H) 23034(L)
Prices per bushel in cents; Wheat, No. 2, red
Spot
$20
70
24050
Oct.
July
however,
some
Dec
62,400 400,700
Sept.
238145 20716-45 RYD
American Airline American Metal American Smelting American Tel & Tel.
231
1812
aanfacturer Interest and also some switching in lower grades, Futures:
Mar
$3,700 100,100
Nay,
21316-1
American Tob. "B"
May
20,200 112,300
Jun.
218
Anaconda Copper
July
13,000 DG,000
Armco Steel
sif
Oct.
1,000
1,000
Corn, No. 2, yellow
Armour
No. No 3 No. 4
No. 1 rubber per lb. May 91%-817% June 16-913 July unquested mubber per (b. May 10-00
Totul
185,500 1,013,800 bales
Spot
149
Baltimore & Ohlo
481
May
1477%
NEW YORK
July
13115-102 Bethlehem Steel
Benguet Cons.
May
Sept.
151-150
་་
Prices of futures closed today
Nov.
Canadian Pacino R. Chase Manhat,
34%
July
Bank
Sept.
1102
Chrysler Motors
Oct.
09.00
Jan.
Spot rubber unbaled
as follows;
7401
Coca Cola
Mar.
013-01%
Spat
15.50
Blanket crepe
210-87
Ryc
Colgate-Palmolive Co.
Dat?
May
3.49
MAY
33.70
Commercial Credit
July
3.29
No. 1 pale crepe
109-111
July
30.01
May
130
Commonwealth Elec.
Sept.
Dci.
32.45-50
Juls
120
Cotwolfdated Edison
Spot-lcents per lb. fob
LONDON
Dee,
32.00
.
Cuba)
3.37
Qats
Mot.
32.50
with spot quoted at 27% pînce per 1b. Prices:
May
30.10
May
July
31.77
July
0755-6472 001
Contract No. G
May
0.04
Orl,
31.00
July
6.57
No. 1 Ray'spot.....
*
2716-27
Soybeans, No. 2 yellow
Sept.
Settlement house term:
NEW ORLEANS
Spot
2043
Nov
6.00
May
2736-2714
May
2944
June
203-27
July/Bept.
2010-201
Prices of futures closed today
July
Spot-fcents per lu, eif NY
ex-duly)
0.53
Sept.
20812
***United
Preka,
Del/Dec.
2534-20
as follows:
Nov,
Jan/Mar.
2012-20
Spot
36,55
Jan,
*5016
Geterni markets, ett basis, porin:
May
30.75
April
20%-203%
July
35.48
Barley,
May
2014-2014 June
20-201 Etate crepe Hil May 315 mollers thick
unquoted
Oct.
32.55-66
Oct.
37.59-01
Spot
130-140
Mer.
31.50-00
Muy
32,50
New York flour,
AMSTERDAM
July Oct.
31,82
200 lb. cock
$13.70%
31.00
WINNIPEG FRICES
INDUSTRIALS
C'ent
Metal Induni 177), 1 5 14200 ++
STORES, ET
Dary Water
COTTONS
Textile Corp Nanyan
MISCELLANEOUS
Yungtize
180 private savings banks.
"But with 1,500 branches:
them what
expect?
*We feel most of their depositors
people who Imu merely
to do rought
their bust- trading and savings bank ness under the one roof,
"in January
February and the Commonwealth Savings Bank opened 100,000 new 13- counts, compared with 145.000 in the same period last year.”
The icial said he under- stood that the Bank
Esso Licenses Butyl
Production
To French Firm
New York, Apr. 17.
11
The Esso Research and Engineering Company has announced that it has issued a licence to French firm for the first butyl synthetic rubber plant to be built overseas.
Pro Research, developer of the rubber made from oil re linery gases, granted the licence to Societe du Cadutuchue Butyl (Socabu), a corporation” formed by ten French companies.
Tho Port Jerome, in the region of Le Havre,
France. Engineering work has already been started and construction is expected to be completed in 1958; IL will have a capacity of 20,000 tons per year.
plant is to be built at
The
Fourth Plant
unit will be the fourth butyl rubber plant in the world.
Other butyl plants are now owned by the Polymer Cor-
poration, a Canadian Govern-
In January and February the Comunowealth Savings Bank granted housing toans
£2 miillon timough building socle- ties and by individual credit- Auancier loans.
Another £1 million was made available for housing loans dur- ing March. Louns now dulstand- ink for housing purposes amount to 80 million.
Bank of N.S.W. officials sni
decision that
hud been reached
the savings brak's future investment policy. funds would Lic or on whal available for housing loans,
But the licence under which the bank operated provided that al least 70 per cent of its funds. must be held in cash or vested in Government or perni- Government securities,
Int'l Wheat Conference
Resumes
The market was barely steady
Esso Hesearch said that it had ake Betrised Socabu to use fis
London, Apr. 17. | Lechnique for recovering Isobutylene, the principa) in-
"The International Wheat gredient of butyl, from reanery Conference resumed its dis-
This gases
would enable cussions In London vester- Socabu to recover isobutylene in its plant from the petroleum day on a new International | kilogram, cif May, as follows:
gases of nearby redneries at Gonfreville and Port Jerome.-- China Mall Special.
Kaiser Co's Finance Plans
Oakland, Apr 10 Kolser Aluminium and Chemi- mont company at Borina: Esto el Corporation has announced
The market was quiet. Prices closed today in guilders per
No.
rubber No. 1 rubber No. 3 rubber
wheat agreement.
The conference criginally No. I crepe opened in Geneva last month but was unable to reach ogree- ment on price, quantity, and | duration and adjcured on March 23 to give the delegates an opportunity, to report back
to their governments.
The importers at first
asked
2.00 nom. 2,09 nom. 2.67 2010.
LIVERPOOL
Future closings. In pence per
lb. were ac follows: Old contract May/June July/Aux. 2.93 nom. New contract May/June
United Press,
London Foreign Exchange
, for a 20 cent feduction of the New York
present price range
of $2.05 Montreal and $1.55 per bushel, but this materiam
Frankfurt was categorically rejected by Lisbon the exporters, who at first in-fan slated
on no reduction what- Stockholm long negotiations, finally sug-
Other
Standard Oil Company at plans for Gnancing its current soCVET. The exporters, after Zurten Batonrouge, Louisiana; and the $170 million programme. Humble ÓN and Reining The
will consist gested an extremely smail re-rem. inancing
the duction of only a few cents per
Company at Baytown, Texas, principally of the
In con bushel, which was turned down Esso Standard and Humble pubile of $30 mill purchased their plants from the vertible proference stock and the by the importers, US Government last year. Total direct placement with financial
institutions of
annually.
$130 million. IN PRINCIPLE capacity of the three existing worth of 25 years first mortgage plants Ja about 115,000 tong bonds.
An additional 920 mil- At the ialka in Geneva the tion will be obtained from re-delegates agreed in principle to tained earnings.
renew the old agreement along The company has called a roughly the same lines. How- special meeting of stockholders over, it was just these lines over on Friday to vote upon a pro- which Britain is so strongly posed amendment to the art opposed and the reason why sho eles of incorporation authorising did not join the old, agreement.
of preference |100,000 shares
stock with a par value of $100 per share.
Two other companies have keen Heensed by Esso Research butyl plants in the to build
Butyl is the United States. material from which practically ail American automobilo inner tubes are made.
Same Technique
The preference stock will be
Junior to the company's pre- ferred stock par value $00 per In France, as in the US it is share of which 700,000 shares expected to find many uses such aro at present outstanding
electric Insulation and China Mail Speelol. mechanical goods, in addition to
finer tubes,
The capacity of the French Exchange Rates
piant will be sufficient to mess protected future French quirements of butyl rubber,
During the rat yours of operation, there will be somo butyl rubber available for ex- 'port to other countries.
Wak
Were
London, Apr. 17.
$2.001-201
2,80 3/18-2.80 1/14
10.049-10.04? 11.74-11.7434 DO 20-00,30 1702-1753 08535-0053) 14.55-14.6534 12.204-12.30% unchanged.-United
20715-207
Crane Ce..
Crown Zeilerbach Cubon Amer. Bugar Diamond Alkali
Dow Chemicals Dupont
Nemours Eastman Kodak Ford Motor
General Electric General Foods General Motors
248-24734 Glidden. Co.
Winnipeg, Apr. 17. Prices of grain futures closed
Canadian cents
Goodyear Tiru
Heyden Chemical Ingersoll-Rand
Int'l Business Machines Inti ifarvester
International Nickel
Ini Tel & Tel
Kansas C. Power & Light Kennecott Copper
Lockheed Aircraft Loews Incorp ...... Lone Star Cement Co. Minnesota Mining Minion Development Montgomery Ward National Cash Reg. "A" National Lead.... New York Central
20% Olin Mathieson
New York Foreign
Exchange
England official
New York, Apr. 17.
$3.00 31/32
30-day futures.. 2.80 9/12 Mi-day futures
36 Australia ....
New Zealand South Africa
97 India
Pakistan
per
today In
SA 24
bushel as follows:
24,40
20.00
Oats
July/Aus.
Mas
Oct/Nov
Dec/Jan
25.60
July
761
Mar/Apr.
2.35
1.
7355
Egyptian Korak May/June..
01.23
Kye
SAO PAULO
May
13016
July
12012
Future clonings, in cruzeiros per kilo were as follows:
Oct.
323
Marley
May
32.00
May
100%
July
July
100
October
31.00
OCL.
104%
December
March
04,00 34.00
Flaxseed
May July Oct.
In the US the avenge price
of 15/16 middling cotton at. 14
markets designated spot
Was
35.53 cents. Sales totalled 6,720 bales.-United Press,
Investment Buying On
London Exchange
London, Apr. 17.
Investment buying sparked selected issues and stocks closed firm on the London Exchange today despite worries in some quarters about the new Government budget, introduced shortly after the session ended.
At the beginning of the Genova talks the British dele gutes made it clear that his country would not re-enter the WA since the pact did not do anything to link the disposal of existing surpluses with the Inchiatrials, brightened withpoint Shell and Burmsh working of the IWA. He suteolid buying support. Fortladyanok soldly, but British posted that a set of internation Motors, Rolls-Royce and Unl- Petroleum fell hack in profit-
No. 6, 134 cents. United Pre
Wheat, No. 3, 1044
·NEW YORK METAL FUTURES
New York, Apr. 17 Prices of metal futures closed today in cents per lb. as follows:
Load Apr.
19,205
May
14.20b
Tin
Apt.
97.84b
May
$7.36)
Zine
Apr
17.156
May
12.175
Copper Apr.
40.106
May
43.70b *United PreRE,
| LONDON SILVER
PRICES
London, Apr. 17.
The fin market was very ally agreed rules for the orderly lovers were strong among the taking .:after, æsluing several steady. Prices closed today in disposal · of accumulated whent leaders, adding, a shilliinst de to., whillrum, 2005 bank La sterling pee long lon as follows: surpluses bo sot up
But gain more generally were artik
buyers wellers
700 787
mark
around
throo
Government stocks in spat
:,、:
When the conference adjourned stoice were popular Seven shared in the advance, adding month thi morning at the following talent an on March 120 the communique, insurance 27, stocles, Prudential from £711/16, carnbous, & The Copper pot
undmeist, exchange
dollar sterling Boteesipen Australian nefer (per Indonesian rupiah tuir,100) Blem tical (per 100); "Bingapore' (âtralia)
hh
unofficial
22.00-3,11
2.30
2.80
2130
United Presa,
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