THE CHINA MAIL,
THURSDAY, APRIL 19, 1966.
TRADE
and
LIBERIA ATTRACTING
INVESTORS
But Britain Is Lagging Behind
Monrovia, Liberia, Apr. 18.
European businessmen are arriving here in increasing numbers to try to stake thier claims to the mineral, forest and Liberia, West agricultural wealth of
Africa's only dollar currency area.
For conturies this wealth hos are being earned by American, been locked away in the jungles | German,
of the interior But now Liberia interesīs.
is preparing to exploit it.
thes
hy
The
tr exception general interest displayed the outside
Liberia world appears to be Britain, which, in the early years of this century helped and finance the then struggling
republie American
VARIDK
founded by freed slaves.
Sustained By US.
CONCHE PA
Today, only one fully-owned Br.fish trading operating in this land. where millions of dollars each year
Spantsti
and Italian
the biggest financial extending Liberia,
phase of
The United States has, COMES. stake through almost every the country's economie Life,
American inanes has sustained 1.ibera for the past 30 years. and, with huge rubber and from the United ore interests here, States will remai the dominant shareholder โรง
republie tbla which,
13 in many modelled on the Amertean way of life.
But there
American monopoly of goods, services and vigital Investment. Predni William Tabanan,
fis in 1st year aud als third term 634 President, bos preclaimed 1331
B
no
IF
CHICAGO GRAIN-door policy for trade and
Wheat
MARKET
Chicago, Apr. 18, closed up Th to 1% cents; soybeans off to up
centy Futures in
gents per
bushel closed today as follows: Whest, No. 2, red
Sput
May
23700
Closing price 242 2237-
July
Bept
21
Nov
214
Jan.
217
Corn. No. 2, yellow
150
1484-4
July
Bebt.
Nov
1823-15 10% 1432-
Jan.
1453
Пус
May
1302%
July
120
Oste
May
July
Soybeans, No. 2, yellow
Spat
May
July
Sept.
Nov.
Jan
Barley, spot
investment.
Gerinan interests
hove
$wo
valuable concessions. The Afri-
* Fruit Company, with head- quarters at Hamburg.
is deve loping banana and other fruit o a 600,000 acres plantations concession which has 88 years to run.
Palm Oil Rots
Utfisa- The Society for the tion of Vegetable Raw Products. another German concern, holds und a concession ta process market palm products and develop the palm oil industry Liberia. This is expected to be one of the most valuable con- cessions granted by the Liberian Government to a foreign cern for is estimated
shout 200,000,000 tons of palm |
rots on the trees each year because of lack of electing and processing dacilities.
voncerna
con-
that
CITU
also
2734m
German 20314 207-0634 carrying out large scale
including |struction work, 2004-12 2401
building
Liberia's of building. just 130-140n
$13 00 --Auest Press
New York flour 200 lb.
Back
WINNIPEG
Ц
con-
cool-
General Motors
Sales
Boston, Apr. 18.
Sales of General Motors Corp, during the firsi quâ ~ ter of this year about equalled the record set in the first quarter of 1955 despite a "substantial" do- cline in defence deliveries. Mr Harlow H. Curtice said yesterday,
Earnings
of the giant corporation
the In
first quarter totalted 5283 mil- Hor: or $1.01 a altare in contrast to $309,400,962 or $1.14 share in the like perled a year ago,
Mr Curtice fold a Press conference here that de
deliveries during the
renee
fient quarter this year was four per cent in the period Lost
year,
gases, be sald, were 33,- 085,000,000 compared with $3,100,736,743 in the like 1958
Unter
sales of cars and trucks from US plants totailed 1,094.000 veblofes or Jess than 1 of the one per cent below the record 1955
he declared. quarter. United Press.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
tranticlions:
COMMERCE
EUROPEAN
US Textile
Industry
Being 'Sold Out'
New York, Apr. 18.
An American textile industry spokes- man today accused the Commerce and State Departments of acting in concert "to sell out the US textile industry and urged the recall of an American trade mission from the Far East.
Far
In a statement released today. Mr Roger Miliken, President of Deering, Milliken & Co., Inc., one of the nation's largest textilo charged that trade milla, mlacion
Eugene headed by Bradamon Director Eastern Division of the Com.
"was Department advising the Japaroso on how they
up their best can stop already damaging shipments of
anch textiles
apparel to this market"
INJËTTO
Bargaining Away
He said Imporis from Japan had elsewhere already
and
and reached
Jevels record
would still more under present
conditions.
"It is high time," Mr Milliken declared, "that the Secretory of his Department Commerce pul
the side of all squarely
and labour American Industry
on
by repudiating end recalling the trade mission to Japan und any similar mission which may rooming the world."
and
for
WORLD RUBBER MARKETS
New York, Apr. 18. The No. 1 Rss Rubber futures cloeed today 10
to 20 points higher with sales of 76 con- tracts.
The standard contract closed 18 to
higher with 20 points
sales of 55 contracts.
Agents Nport good-sized offerings of remille from in- donesia
close to at prices workable basis, but local buyers were uninterested.
Moderate offerings of sheets
Siam but
Alun- prices, dealers
pe
rame Crom workably high Fald,
years, *109
Ccrita
SECTION
WORLD
COTTON
MARKETS
Now York, Apr. 18. Cotton
traders today reacted bearishly to the overnight Government an- nouncements on the export
Programme and the mini- mum price support level for the new crop.
Recurring spurts of selling,
trade fron
interests,
drave prices
coming commission houses and local
do traders,
than $2.50 before the
more
markcot resistance.
developed worthwhile
traders lifted
prices
Wall Street Turns
Irregular
Near The Close
New York, Apr. 18. Realising in leading chemicals, oils, and metals turned the market irregular near the close today.
The selling topped a day of quiet advance. Only a handful of special issues managed to hold gains of any size but, overall, the plus and minus signs were
stiphly from botwore lever pretty evenly divided. tho close, but the list still
showed net losses of 0 to 58
gong. points at the final
The to 40 market opened points. New Orleans closed off
to 05 points. First reaction to The
Joan announcement was one of dis- appointment. The 82% per cent indicate cf parity base would an interim loan rate of around 32.26 cents a pound for middling
cution. This one-inch seling by recent buyers expected the nearer to the 33-cent line.
On the export programme traders iquidated pending ceipt of the detailed text, and opportunity to analyse the as to its particularly plan, possible effect on the domestic price structure.
an
A
** LU
caused who
be much
re-
A foremost four wue that some of the low-priced cotton Govern- obtained out of the ment stock, for export, might be delivered against the futures contract. Under the programme as outlined, the shipper need not
from other stocks.
hc
Of a total 1,205 sues tradeti, |General Motors Gen. Pub, UL. 528 were lower, 485 higher un Gildden Co the day.
up A
bit
Turnover picked with safes of the day totalling 2,470,000 shares compared with 2,330,000 yesterday.
Du
11
Allied Chemirni, down 2, and Pont, oft more than point. These all weighed on the industrial went down today.
Roils held a gain 0.04, thanks
averago DA
it
Pacifle.
to rises of 3 points in Santa Fe, nearly 2 in Union Rock Island and linols Cen- trul lust nearly a point cach,
Long Bell Lumber featured with a rise of 4 points as the company's annual meeting told merger negotiations International Co.
Win
with
Are "going
on fine and favourable."
Aircrafts were mixed. Boeing and, Douglas lost about 2 points, Bendix rose plmost 2.
ID
Mr Millen charged that the
Spot No. 1 Rss were quated export the identical bales bought State
from the stocks, Department
nominally at
provided 32 4
Royal Dutch continued most
recently for Japan,
exports an equivalent amount
demand in the ells. It added Business don on the Hong- been bargaining away our mis puund. Futures;
more than 3 points in the day's jobs of our employees by
in Stock Exchange this
Crop news, spot market ac-active trading. konk
Elsewhere tariffs under
Shell reducing
counts, textile market news and the group, Texas Co. morning
to amounted
AL-
General Agreement on
the other usual proximately $430,000. Noun
price-shaping and Jersey regaindu almost a factors continued to be pushed point each. quotations and the morning's and Trade."
"If the present rate
31.15-25 into the background.
The crease of Japanese goods Dec.
certificated stock held permitted to continue, unemploy-
unchanged at. 11,200 bales, ment in the textile anti apparel industries of the US will grow in proportion and ghost towns will replace the thriving mill com munities from Maine to Texas." Plenty Of Room
SHARES BUYERS BELLERS SALKS
BANKS
1K Bank
1075 1000
10 1000 3 1880 10 0 1180
220
Kant Anta INSURANCES
981⁄2 1000 Union põCKS, ETC.
K Wharf XD
76 77 Dock
355 304
20
400 76 500 or 3014 000 30 Provident (0) 135 13.80 Wheelock 8.40 45 2000 8.40 1000 64 240
He gled
the Tarifts
No. 1 Rss
May
of in- 19
July Bept.
32.05-18 31 80-00
30,40
Standard, contract
May
July Sept jec.
Маг.
May
SINGAPORE
88888
Volume
Motors were easier.
New York Stock Exchange bond volume was $4,020,000.
Stock Exchange American
volume" was 1,130,000 shares.
Dow-Jones closing averages
were:
Month
Open interest
May
10,000
228,000
July
8.000
302,000
Re
14,000
314,000
Dec
10,000
400,500
10.10
Mar
150,400
20.30
May
7,000
112,000
July
8,900
00,000
Oct.
700
1.700
Total
71,400
1,015,000 bales
30 industrials
100.59
20 Her
172.01
NEW
YORK
16 utilities
06.17
65 locks
179.00
Prices of futures closed today
40 bondh
1077.007
as follows: Spot
Comm. spot price index
Comm. future price index
154.00
104.02
Moody's index
30,600
May
35.00-70
July
39.95
Octuber
32-14-15
buying. Future closings were
December March
37.73-20
23.23
May
Alden Ine. Aey.
$ 20%
July October
31.40
Allied Mills Inc.
35
30.00
American Airline
24%
Radio
NEW
ORLEANS
There was some selling at the it was all well- opening, but absorbed by trade Interest later in the day.
Press reports from Jcpap as saying the Braderman mission had urged the Japanese "to diversify exporta of cotton textiles and apparet...not only on types of goods but elso
bracke's as a means price
In the afternoon, the market simultaneously increasing export
with some factory business and minimising the im-recovered 22.30 pact on US producCTS.
the
new
LAND, ETC
IK Hotel
13 70 13.00
BK Lack
179
A. Rubber..
UTILITIES
Tracks Y'all Ferry
41 52 206 m #1!!
1.50
22.40 22.00 2250 or 2241⁄2
101
136 101
400
Ligit NJ 19.50 19.80 Electric
20.70 Bunus 20.70 29.10
18.70 22.00
47
150
to
ills
capital
3,500,000- pleted, and
THE W
the dollar harbour at Shoe, IT) southeast, which will serve as a of the port for the products PRICES
banana and fruit plantations, Winnipeg. Apr. 18
The Italians are also engagedd Prices of grain futures closed
work and un today in conta per bushel as jon construction
read building. on which about 20,000,000 dollars in the form of loans from the Export-Import Bank is being spent over a nine- year period. The Liberian Gov- ernment's aim is to open up the in natural re- interior, rich
by a system of linked highways to the coast.
follows:
Oats
May
July
2016
October
73-74
Ryo
MAY
1200%
July
120-ja
Gelaber
12321
sources.
Barley
May July October
114%
109%%%
10416
large,
Flaxseed
tunity presented
May
4244
417
which is Just begin-
354
Wheat,
July
October
Spanish interests, though not
have seized the oppor
by the rapid
building and expansion pro-
framme,
on
June 01-12
July unqualed No. 2 rubber per Ib, May 30-905 No. 3
It was also reported that the missdon had said that there was No. 1 rubber per lb. May 013-91% 20.70 HAND
of room "plenty
to Increase American imports of woollen Telephone
12 13.30 B8 or 12.10 | goods" though later the mission, INDUSTRIALS
he added, explained that by this Cement.. 1331 137% 250 331⁄2
meant cashmere sweaters, 4500 4 333S 1.83 3000 2.70 gloves and other specialties.
Ünited Press,
Metal Indunt,
STORES, ETC.
Dairy XD. 15.90 10.30
Watson TAKE COTTONS
11.40
Textile Corp 023 6.35 Nanyang
7.10 MISCELLANEOUS
Yangisze
6.35 1000 * 1311⁄2
it
U.S. UNION ASKS
Closing Prices
American
Corp.
Cable
American Cyanamide
Prices of futures closed today Am. Mech. & dry.
BOT-201
7+
No. 4 Spot rubber unbaled Blanket crepe No. 1 pale crepe
BU-PO
J
017-91% 03-57 110-112
as follows:
Spot
May
LONDON
The market
was quiet but FOR MORE MONEY steady with spot quoted at 27
pence per lb. Prices:
No, 1 Res anot
Settlement house termi
May 10415 cents: No. 5. ning to get under way, and are New York Foreign
134 cents-United Prena,
New York Sugar Market
New York, Apr. 18. World No. 4 mugar futures closed today 1 point higher to 5 points lawer with sales of co contracts
Domestic No. 6 sugar futures
exporting
large
cement from Tangier,
Iron Ore Deposit
of
Sweden has one of the big- gest potential stakes in Liberia's expanding econorny with a big in the new exploration project interior which is expected to' tap one of the richest iron ore deposit in the world.
Another Swedish company is closed 1 point lower to 1 polat engaged on preliminary surveys for a hydro-electric works to be higher with sales of 305 con-sited un raplus of St Paul River, tracts.
about 15 miles from Monrovia, Refiner
buying and short
This would eventually supply covering in the domestic con- the Liberian capital with power
reflected a femer, although and light-China Mall Special quotably unchanged, raw sliuß-
Dealers understood all rear- by sugars have been cleared up in the recent refiner demand, and that an advance in refined sugar preles in a possibility In the northeastern rection of the country.
Contract No. 4
May
July
Sept
MA.
May
Jmy
Sept.
#pot-cents per iz fob Cu
· May
July
Sept.
0.01
Nov.
Spot-(cents per 1. V
Mar.
recip}
Exchange
New York, Apr. 18. The National Maritime Union his presented shipping Arms operating freighters and passen ger vessels for the United States East and Gulf coasts with a re- quest for ware Inercases rang. New York, Apr. 10.
above the per $2.81-37325g to ton
268-2.70 existing levels, unofficial
United Press.
The new rate, would start on June 10,
England official
++
Exchange Rates
cent
Similar demands were soon to bo presented to tanker and collier operators.
July October
55.35
33.00
American Tel & Tel American Tob. "B"
Anaconda Copper Anne Strol Baldwin Lima-Ham.
Benguet Cana,
Bethlehem Steel
Bendix Aviation Corp.
Boeing Airplane
31.55
Borden (The) Co.
Burroughs Act Maching
Case (f. 1.) Co.
Cat. Tractor
Celanese Corp.
C. I. T. Financial Corp.
Charo Manhat, Bank
Colgate-Palmolive:
December
March
July
May October
LIVERPOOL
2734-2736
June
Crepe
July/Sept.
20-2516 231 2011 OctDec,
23 Jan/Mar.
General markets, cit basis, ports: Aprit May Juno
Estate unquoted.
2776-27-36 2015 2014
Future
closings,
101
pence
PCT lb. were as follows:
Coca Cola
Did contract
May/June
24,00
July/Aug
24,20
New ontract
May/June
20.30
July/Aug.
23.03
Oct/Nov.
25.40
Dec/Jon Mar/Apr.
23.25
25.07
Diamond Alle
31.25
Thin
and
Dow Chemicals
El Paso National Gas Erie Railroad
AMSTERDAM
Family Finance Corp.
"Thick Egyptian Karnak May/June
SAO PAULO
Future closings, in cruzeiros per kilo were as follows:
31.03 The market was very quiet. May JJJuly
31.00 Prices closed today in guilders per kilogram, cif May, as Dec,
3380 Business was done in the local The union mid that it was follows: unofficial
market exchange
thu morning at the following rates: taking this action to keep wages US dollar (per 11
D4 abreast of rising pay in land in- No. 1 rubber No, 2 rubber 15.70 Sterling notes (per £1)
No, a rubber 12.49 dustries.-China Mall Special, Australian notes (per 1) ... Indonesian ruplah (per 100) 18.00 20.10 Blar ical (per 100) Singapore (Brit)
LONDON MARKET
TURNS BULLISH
London, Apr. 18.
The stock market-turned bullish today with traders apparently ignoring the thrift keynote of
A yesterday's budget'message.
United Press...
LONDON. SILVER PRICES
Market men believe that the | favourites in a market rather Chancellor of the Exchequer | short of stock......... may have inspired confidence in
5.00 him abulty to read the problems Profit-taking hit the list in the country's the last 10 minutes of trading,
however, and most imties clos
London, Apr. 10.1 The price of silver was quoted today at 78% pancs for sport and
confronting
economy.
Today also happens to bo the ed under their highs for the first day of a new account when day,
NEW YORK METAL FUTURES
t
Now York, Apr. 18. Prices of metal futures closed today in cents per lb. as follows:
Lead
No. 1 crepe
Mac.
unquoted
159 busara In the US the average price of 307 buyers 15/38 middling cotton at 14 de 254 buyers
104 buyers signated spot markets was 35.42 Undled Pres. cents. Saks totalled 11,330
bales.
Singapore
Stock Market
Singapore, Apr. 10. Brokers točný quoted following stock prices:
Арт. May
15.20b
15.200
Tin
Agr.
07.73b
May
01245
the
Zing
Apr.
12.05b
MAY
12.070
OPENE
Copper
Batu Lintang, Rubber, Onl
Apr.
452290
May
44.pib
LAG.
-United Prem
British Domko. Petroleum
LONDON METAL Neave Ltd. Ord. 3187x
Coated Tur Benoiters
Ord.
40/.
27/60
PRICES
Honalonu
Babiding Dong
Frostro de Ziemne.235% oum. Shanghai
0.10
London, Apr. 18- Prices of metals closed today. Dinhin Rubber, datates '120. irf aferling · per long- follower
there normally is an exceptional Oils were strong with Royal amount of speculative short-time Dutch up. &%, Brits Petro.cum Tin spol buying, yang s
Drencity six shillings, and Shell. 3-month Industrials took the spotlight Transpoet bela (eDurman ›› moen with gain reaching as high as than free shilling" 15:29oond
Copper Boot Land, and half
78% pence for astward, (against five shillings, Stool, anginot BRUM COMMITuners: mobición zine ma half 20% and 70% previously)----ing, motors, chain store and maved up about A Mini-United United Prem,'
mircellaneous issues - wero · · Prom-
Naw, Bersedih Rubba -
Usinary Col
230
KARACHI
The market was dull today with prices quoted in rupees për maund as follows:
4o Sind röfer gin
*73/8 2007, Bind - roflar gin.
1273 saw gin
1/3 2197 Punjab roller gin
gin
98/8 **United PrUES.
kaw
London Foreign
Exchange
New York Montreal Amsterdam Drussels Copenhagen
·FTARTUFI
Labon
Milan
Stockholm
London,
Forelei exchange rulos closed Joday with sterilen utrotar, in alt pimprescing: meninic, the collar it
·Climbwa imbove the dai-rate, för the firmi Sirna alnce. August, 1954.
- United Prém,
Commercial Credit
Commonwealth Elec. Continental Oll of Del. Crane Co.
Crown Zelierbach
Eastman Kodak .
Ford Motor
Goodeteh (A. P.) Qù. Heyden Chemical Hoistake Mining Co.
Inland Steel Co. Ingersoll-Rand
Interchemiend Cup. International Paper John-Mesville Co Kontas C. Power & Light Liggett Meyers Tob. Ca
Louleville & Noshville
Lowensie & Bone Mesabi Iron Corp. Munnerota Mining Mission Development Monsanto Chernient Co Motorola Inc.
National Dairy Prod, National Steel Corp. Olin Mainieson Owen-linols Glass Pacific Western Oli Parke Davis Co. Penny J. C. Co. Penn, Sell Co.
Philly Morr
Procter & Gamble Co. Pittsburgh Plate Gla Publicker industries Puro Oll
Reynolds Metal Shell Oil Co. Saint Reg. Paper South Puerto filco Sugar Southern National Gas Southern Railway (Com.) Standard C of N.J Sterling Drug Co. Stolety-Van Camp. Studebaker-Packard Corp ride Water Ann, Oll Twenty Century Fax Fim
S. Ling Co.
U.S. Steel
8.09%
United Press.
American
Telephone Expansion
New York, Apr. 18. The American Telephone & 13.04 Telegraph Co, today, became the
first
in American company history to earmark more than 2 billion for expansion in a singlo year,
Mr Cleo F. Craig, President of the glant Bell System, said et that by 1957 the company will 75% be servicing 50 million telephones
in the United States, an in crease of three million telephones
30% 1814
10 from the present total. 131
"All this growth and improve- 1% ment require new facilites in tremendous quantity," he told the company's annual meeting.
1013
里
4994b
In fact, new construction by the Bell companies in 1950 will amount to slightly more than 2 billion, welch la at tho
$7 highest level ever,"
117
08
'Only two other companies in American history over aside more than 1 billion.
Motors
set for
631 expansion. They are Generat Corp. and Standard Oll Co. NJ, both of which wil spend that amount this year.---- United Press.
Let US handle
YOUR PRINTING
Too many proofs mean time wasted. "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 current
requirements.
SOUTH CHINA MORNING POST
PRINTING DEPT.
For printing of avery: description Telephone: 20002