THE CHINA MAIL, TUESDAY, AUGUST 14, 1956.*
Pare
TRADE
and
COMMERCE SECTION
London Stocks Eden Points Out Consequences Soviet-Indonesia New York Cotton
Firm But Of Suez Canal Grab
Little Volume
London, Aug. 13.
The stock market was firm today with selected buying in oil and depart- shares. The
ment
store
Suez issue kept volume on the light side.
Ruya Dutch res
10 shilings
usic Briti Petroleum added Small fraction in the oils Great i Univciral ed The department store sharts higher
Sorz Canal was eldom of the tape but mattaged to rise 21 ta
£50
SMALL GAINS
:
BUT BRITAIN HAS LOST
OUT AS MAJOR EXPORTER OF CAPITAL
From RONALD BOXALL
London, Aug. 13.
Sir Anthony Eden has left the nation in no doubt about the economic consequences for Britain and the Commonwealth of any interruption of traffic through the Suez Canal. The only be made at the moment Punequivocal statement that can
Andy Fra den i miks with in the Small Pan
mately Brith Mobar Corp waarm
the auto
2012122 following cettement of a labhai
chisinite
N
Gu'd
British Govimurtit
shavets Thau stmed the easter side, but Orang Pier State sues insti
ed Armen
Copper and other bare metal Rubber and were mostly 10 ler
shares were mixed
lea Pur
where chatigend nated tea
NEW YORK METAL
Pove
FUTURES
New York, Aug 13 fetal Testuary chutenf todes an etuls jare thy pa to
J
AUR
2
Ala
ין י.*
Zaw
Ang
Copper Aug
about the present crisis is that the consequences would be immediate and severe.
But much more could and can be said about the back- to the situation that has now culminated in the ground peremptory nationalisation of the world's most important artificial waterway.
1 Arst thing that needs to ¦ power
A,L
matie
Es
taron T
That
1 and admittedly the most which alle development of the effe
15 Jahren that has been going on 15 JAN.Ree the end of the wor Τυ 1: particul-
1677 4011
130
30 31
IN
Wider Hearing
And
this
IM
net he
only
WORLD RUBBER
MARKETS
New York, Aug. 13. The No. 1 Ra rubber closed futures contract today unchanged to points higher with sales of 148 contracts.
30
15
The standard contract closed points lower 10 40 points higher with sales of 19 on- tracts.
The Tex
contrnet closed 20 points tower with soles of 10
tradi
Closing prie©*
No, I REM
Sep!
Dec
standard contract
yepl
30 05
35 30-03
24 10
Der
33 10
Mar
32.60
May
31 00
July
30.60
Sept
20 00
Rex contract
Sopt
3830
Nov
24.11
แท
Mai
33.50
May
31.DO
July
31 Do
Sept
Trading in
rubber
30 10 WOR on
10
From their own point Leustering for the work of build- ! the dih Bide today as traders Suez vw they are equally right;ng the dam and other projects awaited further developments in The
with the schiene the Suez Canal ertala. Spot No. cannot be studied in and we ent safely leave it to connected
to decide finally | British fm 101 out to the i Rs was quoted at 30% cente merely the the histeraus
the care and which ans
I pound.
SINGAPORE The market sagged after Contract that has been lost to stendy opening on lack of trade Teretan S becover (ritish
191 [support. There was a little fac- or will industry cannot,
not 'tory buying only and small off- Even in Australia But the cron in sta argument compete
take by Austraila, Futures deserves wider henring than 6 halth of British tenders for un hoe had so far 1 whit be re-important development project praested, of course, by Britain's were thrown
panies as a case at "he who 3 os cemed to pay the plper has
But it! tune cased to call the
sea abir
act
6: pelitietan it is
trenalin But the economist gards it is us further evidence |
By iam's devilning economie
IN YAL
Repl
Pasted Pens
Wall Street Stocks
Drop Over One Billion
is reel quite as simple as that.
Before ever Colonel Nasser sk
Pash (Review
to maskain
E
resources more
tגונו
No 1 rubber per lb. Aug. 1021-1021,
Sept.
Trade Pact
Djakarta. AGE, 17 Thetails of the Soviet Indonésia trade agreement were made públic today.
The past will be effective for one year from Augus 12 and mymchis will 'be in pound meriing. The fussians will station one trade representative in the Soviet Embassy here and another in Surabaya.
Indonesia plans to export rubber, copra, coffee, tea, tobacco,
essential
olls and reiten, with the soviet exporting construc
tion machinery, oil drilling and refining dieme!
electric
engines,
POWIE
equipment,
portable
stations.
farm equlpenent, automo- biles, buses, iron, steel and fluished cotton textilen... United Press,
HONGKONG STOCK EXCHANGE
Futures Rise Sharply
New York, Aug. 13.
Cotton futures rose sharply in moderately
active dealings today.
At the close, the list ruled 11 No 24 points higher. The market pened two to 14 higher. New Orleans closed 20 to 27 higher.
Prices moved higher at the outset
jack AS A
or offerings.
The (rom
South,
particularly
December March
MAY July
brought about » chert covering | Spot
movement hedging Patience.
33.33
1,86-90
October
December
"NEW ORLEANS
Prict of futures closed today
as follows:
29.00
in December
March
I May
July
October
December
with only scale up Pelati and kuldation
21.04
The market held firm through- of the afterneen on , but yest
scattered mill price fixing, ald
LIVERPOOL to be influenced by the different!
Futurka closings, in pence per political
aspects of laten planks.
alb, were as follows: Gains were extended even
Old contract, further toward the close on buying reflecting a better ex- and unfavourable port picture crop news,
The March contract was the centre of Interest in early den!- mg, with one broker reported to have bought 3,500 bales of
that delivery
Certificated stocks of all cot- ton at delivery points declined 075 bales. Month
¡From Our Correspondant) O
Vulunve Open interest
24,000
147,000
Dec
32,400
043,900
28,200
344,200
May
18,500
102,000
7.700
129,400
4,290
58,100
1.000
18.000
117,000 1,514,100 holes
NEW YORK
Business done on thi Hong-Mar kong Stock Exchange this morn- July ing amounted to approximately | Dot $920,000, Norm quotations and the morning's trebasetions:
shares
BANKS
HK Back INSURANCES Contion Lombard
SHIPPING
Wheelch
K. Whart Desk Prov.
Dex
Total
October/November December/Jaraary Mash/April May/June July/August New contract,
October/November December/Jasonry March/April
May/June
Egyptian Karnak,
July/August
November/December
BAO PAULD
24.95
23.50
03.00
Futures closings, in cruzeiros
per klo were as follows:
Augu
ungunted
October
December
30.99
March
30.50
May
$7.00
July
31.00
In the US the average price of one-inch cotton middling at 14 Pricts of futures closed today designated
wen spot markets BF follows:
38.04 cents. Sales totalledt 60,355 Sport
bales-United Press October
3445 35.43
Buyers Sellers
Bale,
102-1022
1000 1040
990
were went to foreigners
out because they
The work identical and
unquested
46
300 7 45
No. 1 rubber per 1. Aug No 1 No. 4
15-08
(K)-077
600 0.00
13-14
DOCKS, ETC.
The questions Britain must
herwelf are these:
Spot rubber unboled Blanket crePE
102-102%
2-803
30%
40
How
No. 1 pale repe
100-100
LONDON
LAND, ET
The markel was quiet. Spol
HK Hotel
K L
13
14.00 ad Humphreys 1940
0
300 13.00
+
200 00
Really
13% 1470 8000 - 1,48
Settlement house term
RUBBER
Bepl....
30-30
Amake
1.477 150 5000 con
1.30
Out/Dec
2006-2012
UTILITIES
Jan/Mar
Apr/une
July/Sept.
General markets, of base, porte
unquoted
Star Ferry Yu
Aug.
Sept Out
Estate crepe thin Aus.
29-29 29-201 284-29 371
2344
goodwill she h
bised the Canal Professor lung cat she go on drawing on
the store of Bank wrote
затик In Lloyds
bad up in the Commonwealth No. 1 was quoted at 30 pence per The fatture of
hon countries that used to deb. Prices: war a since the margin of saving over domestic | pend on her must now look to
other stres helading Russia, Mavesim n sufficient to supply
for essential capital: ond when out of her own
ven if money is available in fraction of the capital needs of those countries of the London British firms cannot or
will not that Commonwealth
tender competitively are uc- customed
to look to her for for contracts. Stocks lost more than 1 billion of total value-finance is perhaps the most im
portent cause of her deeline др it world power."
New York, Aug. 13.
tions today and trading fell off to the slowest pace in six weeks as Wall Street turned its attention to Chicago where the Democratic convention got under way.
The
derline referteck the noget more than any Pressure und only a handful of selected issue, me ved at all widely.
There were a few substantial declines among the oils, steris, non-ferrota metals, chemical; and the rals but even in these groups and radial smugs counter- el the n
Industrial as Kr 110 Were down 2.08 on average to 514.40, 2.13 u 180.44 and Falls down
Chrysler Motors
Jotas Moly ndertim Colgate-Pringlive Cu Comelvial Credit
No Abdication
thick Aug. AMSTERDAM
The market was quict,
No. 1 rubber
No. 2 rubber Nu. 3 rubber No 1 crepe
21.30 23.00 1690 or 3345
140
100 109 MIAMI (D) 23:30 23:40 2500 g 23.40 2700 23.50
C Light (N) 20% 21.10
Pd. 2131⁄2
Electric
4032 30%
300 € 22.60 301 30.16 085 30.15 Telephone
24 20 4.40 3000 24.0 Prices, INDUSTRIALS
Coment
391% 35% 2000 # 33% STORES, ETC
19.50 10.80 250 @ 16.50 WAIRO
14, 60 11 80 Lane, Crow 29.20 COTTONS Textles INVESTMENTS
2.87 not.
4
United Pres".
But of course it is not only 11 guês without mying that | Cloerd today in guilders per Conumontweith countries / Britain he not abilicated her | kilogram, dỉ Sopi as follows: who once looked to Britain for nnance and now find themselves
Prof driven to look elsewhere. 67 Paish's cause and effect applles or lesser degree to in greater every reintry that ever looked! London for the development copilul
Egypt for example. Colony Nasper's andably an act of
722%
321
Contenith Elec absolicited Edison Continental On of Bel
42
10
471
ITIN
341
an Amer Sugar Durund Aikoli Dew Countertha Digunt de Nemuss s Eastman Kodak
10
BULL
21
70%
2137%
Crown Zetlerarh
El Paso National Gas
Radiad Family Fitaner klorp Ford Motor
ullities of 0.35 in 70.49. Turn- | Denersi Elecule over ran 310,000 shares behind General Foods
Friday
انه
1,736,000
lightest since July 2,
No Stock Split
General Mot
shuris, Gen Pub
over failure of
Gulf Oll, continuing to reflect disappointment the directors to order
#Lock Licipaleil nearly 3 points more.
My Ot
Wits
Reticlitical
role of The world's chief sup plier of capital out or choice. She wants to go on exporting capital-indeed she must if she is to survive ne a great political and economic power. But she ennnot do this and indulge in extremely costly Inflation 01 home.
pallonsiign. But it wils also The choice is clear, Britain And ¢ul [3 S. On enjoying an ever
to mistaken attempt
scheme of living
New York Sugar Market
New York, Aug, 13, World No 4 sugar futures to. closed unchanged to one
higher with yales of 52!
in alternative source of finance | Increasing inflation-fed standard
Dam the Aswan 97 10
(while it lasta) and day when other channels of supply watching its prestige
abroad point were denied to him
decline sill further. Or it can aerept the need for retrench- Trent #t home, KOT uside
Sold Out
100
One should not stress Prot.
and emise
effect strongly in the case of the Suez Is sufficient situation. But 3411 for our present purpose to point out the connection between
Britain's declining position
244 584%
03
471
0115
Güidden Co.
www.
P
Bootie B F Co
Cindyear The
Heyden Chemical
10
Huntstuka Mting Co
Ingersoll-Rankl
96
10
503
37
109
5416
and Steel Interchemical Corp
an afe | Intl Business Machines split, stumped Int Harvester
Shell and International Nickel
Texas Co, kot 1% each and Internathmal Paper
end
Infi Tel & Tet".
Philips Petroleum Standard of | John-Manville Co
Secony MobiKanis C. Penver & light slipped arounk a point. Gulf held Kentecoft Cove the spot light as the day's most Like Meyers Tob Co
Lockheed Asteraft
active issues, followed by Stand-Loews incorp ard Oll of Indiana which
proved fractionally.
Rail loses ranged to 2 points
to Sinta Fe
hell steady under the Meters helt lead of Chryshot which ran up almost a point. Ford was un- changed. General More off bil, ex-dividend.
New York
Stock
International supplier capita al Colonci cavaller action.
Ax of
Nuset':
for investment abroad, PESOUTTES cut its costs to make industries compelflive and see its prestige NOUT It cannot do both,
~~(London Express Service),
Reynolds Raise
Aluminium Price A Cent
Nor do we need to rely upon this particular case to build up the cause and effect argument, i We can take our choice from a long series of events, all of which tell the same story.
Because sufficient capital was
availablo in Britain the Washington, Aug. 13. Trinkki Oil Company sold out
The Reynolds Metal Co. to an American Arm.
Because
announced today it is sufficient capital was not avail- 42% uble In Britain
its price
on pig the door was raising
*
im-Lone Star Ceignet Co.
67
Louisville & Nashville N Lowenstein & S
1011
Mewabi Iron Carp.
Minnesota Mining Mission Development Menmanto Chemical Co Montgomery Ward Motorola Inc.
72
4216
14
422
1184
754
38
17
18%
sik does not
imediate
Exchange
bond volume was 98,580,000.
National Canli Reg. "A" National Dairy Prod. National Lead
National Steel Corp New York Central
Olin Mahleron
American Stock Exchange oth Elevators
volume was 860,000 shares
Owen-Illinois Glams
Dow Jones cloning avategiz were Paoifle Gas & Elec.
as follows:
30 industrinis
20 in
15 utüiften
stocks
40 bonds
Comm. future price index Comin. pot price index Moody's index
Closing Prices
Allen Ing. Aoy,
Allied Chemicals Allied Milla ice.
Allis Chalmers ...
American Airlina
American Cable & Radio Corp.
American Cyanamide Co.
Amer, & Foreign Power
An, Mon, & F"dry,
American Metal
American Sinciting
Am. Stiga Ker.
Americasi Tel & To
American Tob. "B"
Anaconda Ccoper Armco Steel
Antjour
Baldwins-Lkna-Ham.
Bellmore & Ohio...
Hejus, Aviation Cörp,
Bungiel Cone.
Bethletiam Steal
Horing Airplane
Borden (The Co
Burroughs Add Machine
Canadian Pacião Davina
Same _{3}\1) Co.,
Cap Treatora Celinewo_Carpi,
C. I. T. Tinancial Corp. Chase Blindat, Bank saa
Pan American Airways
$14.40 Paramount Pictures
100.44 Parke Davis Co.
70.49 Penny J.C. C.
181.53 Penn, Bait Co 94.72 Phip Harris
151.10 Procter & Gamble Co 164.38 Pittsburgh Plate Glam 424.10 Publicker Industries
Piare O...... Radio Corporation Republle Steel
Reynolls Metal
$ 10% Shell On Ca.....
110
Sadot Reg. Paper
341% Sinclair Oil
24 South Puerto Rico Sugur
15
Soooey Mobfioll
5
Bouthern National Go
46% Southern Railway (Com,)
15 Standard Brand
101tarhard Oil of Cal
31.
Standard Oil at Ind.
64% Btandard Oil of N.J
30
Sterp Rock (Toronto Exgi
1st
Bia
00
Sterling Drug Co.
"Stokely+Van Camp, Studebaker-Packard Corp. Switt & Co,
at Texas Co.
Tide Water Arm. Dil Twenty Century Fox Film
di Union Carbids.....
Union Pacino Railway
Pak "United. Alecriti
40% U.S. Cyprum
1. Line, Cv.
Rubber 34.B Steel
49 TAR. Emlung
Woolworth
& Paper
.
left open for Russia to pour aluminium one roubles inte
industry,
494 prestige.
the Indian stelpound effective Monday.
cent 魂
spokesman and
Where the traditional ties A Flynolds with Britain are strongest the the cost of all other Reynolds' 70% absence of enpital from London
be raised products will
"pro- result in any im-
He gave portionately," of 1099
political
Costs" As In one countries it created labour
But there are reason for the increase, will other important areas where the DS Hupply of capital and
Political prestige are closely related.
Political prestige, however, is not all that matters,
90% over
4612
504
40
contracts.
No 6 sugar futures Domestic closed one point Tower with sales of 114 contrucis.
futures market The domestic continues to be depressed by the latest sugar marketing quota in- erease, New York raws are bo Ing offered as low as 6,07 centa
a pound. compared with 6.15 cents before the quota increase, Contract No. 4 (World)
Sculenber
October
March
May
Judy
1
Invest
HE
1
4.40
0.60,
500 1000
Singapore
Stock Market
Singapore, Aug. 14. Brokers today quoted the fol- owing stock, prices:
Opening Body Lintang Rubber Co, Ltd. $1,00 British Borneo Petroleum
Syndicsto
13/04 Consolidated
Smelters Ord. Fracy & Neave Lnd. Ora x Proser & Nouvo Lád. The
cum, pref
Tin
Hongkong & Shanghai Bar
ang Copper
Hơn tu Tin Ltd.
*
E
POBI
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwardy
"CANTON" *CORPU" “CARTHAGE” "OBUSAN"
Larvus Landon
Sallad 18th Augus 1th September
2th September
Due Hongkong
20th Augu 17th September 15th October October 37th
Via Southampton, Per Baid, Aden, Bombay, Coloma,
Homewards "CANTON" "CORFU" "CARTHAGE" "OHUSAN”
Via
singapore,
Penang & Bingapore.
Leaves Hongkong Dus Lazden
24th Augum
24th September pend October 19th November November
Bombay,
Mat September 1912 October 31 October
PERANE,
Part Sald
FREIGHT SERVICE
"SHILLONG"londe 15th Aug,
"SUNDA" due 19 Auk.
"BALSETTE" due 27th Aug.
"BUNDA"
bonds 11th Sept.
$1.50
$5.00
$80 d
0/30
Lempaa Ltd.
$1.75
31.30
An Robber Estates Ld.
0.75
3.13
Maksyon Browartes
$3.95
3.32
New Berandah Rubber Co.
1.32
Ltd.
41.77
3.33
Petaling Tin Ltd.
$3.15
3.33
Fraffles Hotel
per
fob
Singapore Cold Storage
$1.45
3.34
South Braids Insurance Ca
"SOUDAN"
dua 14th Sept.
Ltd.
$37,50
4.18
Street Trading
$24.00
0.07
Straits Steamshidp
$14.00
March
United Engineers Ord.
$8,70
:
May
Wearne ros,
July
3.31
1
Spot-icenta per lb. cu NY
ex-duty)
5,55
-United Press.
September
Spot-1 cerita
Cuba)
Contract No. 6
September
November
5.40
London Foreign
Exchange
New York the Montreal
Amsterdam Brunel Copenhagen St Tho announcement came
Frankfurt on early Milan hopes brightened for
Paris striko settlement between the
Etockholm the ant company
AFL-CIO Othorn Soma- | N
Company Press, United Steelworkers.
sil | thing even more important is and uniors officials met during the
a0
being risked the survival of
arta system and dup with federal mediators In
were
London, Aug. 13,
2.70-3/10-170-8/10 2,7832-2.7231 10.04-10.0412 139 25-139.30 19.33-19.331 11.00-11.70
1748-1740) 26211-9824 J4.394-14.40. unchanged.United
the starling
conthunder of the British out involving 10,000 workers at Commonwealth,
even as an extreme contingency an attempt to setie the walk- New York Foreign
the
Lost: Out
nine. Reynolds plants.
Exchange
New York, Aug. 13,
Similar price increases were
theCarda announced recently, by Aluminium Company of America |maand dilcisi,
unofficial and Kalser Aluminium-United
20-day futures .. 90-day futurem – South Atria Argentina
This is not as far fetched as it
BEC at, first-do more Press. may than
the for example motionalisation of the Sucz Conal would
Centr
NAMESAKES have appeared
Anwart Rivals, 2 Cur
the taing Actore, Theatre,
$1.01 31/32 *2.76 5/16 3.73-2.74 2.773 3.78 24/33 2.7814
United Press,
0334
Exchange Rates
few years ago, m one what has happened in
Africd
Despite general, shortage of funds In Orator, 6_Parliament, * Drama- Lordion Britain participated that, 8 Sceno, Dashool, 10 Beavily in anancing the first Comedy, 11 Malaprop 11 Wit stand of the Karion hydro-13 Geandal, 14: Satire, 16. 12 dogs part 1) electric powerscbame which Brinsley,
may one day make Central
Africa in important industrial Richard Sheridan,
region. But when it came to, wright).
• Cumdiv.-China Mail Special.
¡LONDON METAL
PRICES
London, Aug. 13, Prices of metals closed today In atering per long ton follows:
בלד
1LA
buyers sellern
Tin
774
"
-month Copper spot
3-month
•Lead lat hulf Aur. Lead ist halt Nov, Zine ist half Aus Zine in half Nov.
708
770
310
11714
DO 043) United. Press..
310% 2094 111244
CHICAGO LARD FUTURES
Chicago, Aug. 18,
*Prices of lard futures closed today in cents' por: 1b. as fol- lows:
September October November December
January
Undied Pre
U.S. SEEK MARKET FOR RICE
Washington, Aug. 13.7 The United States will attempt "Business" wie danw" in the food to gain new markets Titor› hor montese low rate rice particularly in Japan, the 15:50 |U.8; Department of Agriculture 292117. anoeinced, today, lámperial pro- Indonesian rupinės)(por 200). Is strame will be launched to this (play}} - ME (Der, 100)
read in oc-optration will privalu paritradepantslied: Prom
Colombo,
Londen.
Adon,
for Singapore, P. Swet- jentam. Adegi, Haire. London, Hamburg. Rot- jerdom & Antwwep
from UK.
from U.K.
ter Singapore, P. Swet
ITAVTO tenham, Aden, London Hamburg, Rot- terdam & Antwerp
from UK.
BRITISH INDIA S.N. CO., LTD.
1564 - A HUNDRED TEARS OF SERVICE —– 1958 "ORMARA"
dae 143h ADE. falls 10th Aug,
"SANTHIA” dos 29th Aug. salt 28th Aug.
*
from Japan Shanghai for Singapore, Penang Rangoon, Calotitia Chilinging
from Calcutta for Japan
P. & 0./B..I, JOINT SERVICE "IKAUNA”
in Port
salla 14th Ave.
.
"UBLANA", due 23rd Aug.
*klis 2411: Aug. dae 3rd Sept "ITAURA"
sal 4th Sept.
from Japan
for Singapore, Bombar, Khorramshahr de Xuwath from_Karachi & Bombay for Japan
frons Karachi
tor Japan
EASTERN & AUSTRALIAN S.S. CO., LTD. L."AHAFURA” KUS Oli Sept.' from Austraïts
for "EASTERN” toads 8th Sept.
bourne & Adelaide "All vesisha '2ava Zberty to catt⋅ká háy
or of the soute the route à miùng new wundsen to change or aMENGARUH With or without
For full particulars mylę fu MACKINNON, MACKI VIN
WE HOND LAKE