US-FORMOSA
AGREEMENT
#
Washington, Aug, 14, The Agriculture Depart- ment today announced trade agrochem with Na. tionalisi
China whereby that country will purchase 9.B nullon worth of farm commodities which include
colion, 5 milton: dairy product. 1.5 million; and tobacco, 1,7 millon Inedible allow. 1 millon. Hal under the uro.
gramme will be made by private UN traalten, United Press,
CHICAGO GRAIN
MARKET
Cg Aur. H
TRADE
THE CHINA MAIL, WEDNESDAY, AUGUST 15, 1956.
and COMMERCE SECTION
India May Deepen A SeaSINO-JAPANESE Wall
WORLD
COTTON
MARKETS
New York, Aug. 14. Early gains of more than $1 a bale in cotton
were cut
today
sub- stantially by profit-taking and
the list finished
lightly on the upside.
The umket rese sharply
t
PLAN WOULD BY-PASS | CEYLON'S MAIN PORT
Bombay, Aug. 14.
Ships plying between the Arabian Sea and the Bay of Bengal will avoid having to ¦go round the island of Ceylon and so save 300 miles if a project now being discussed becomes a reality.
WORLD
RUBBER
MARKETS
New York, Aug. 14. The No. I Ras rubber futures. contract closed today D to 10 points higher with sales of 40 contracts.
The standard contract closed
The project, called the Sethusamudram 10 to 30 points higher with scheme, provides for the deepening of the shallow waters between India and Ceylon, with sates of 70 contracts.
At present big 44. coming | Government had very studying - The outset of an extet ston of
Committee' covering a from the Arutyun Sen the Mideas | the hort
Farrel vesterday's
report JRGA UMEAL with helging and Vishakapatamít or Calcutta have would shortly nnounce its:
readily barbed. | to go round Ceylon withough decision. cary lo hrava ut the case of it-taking
1937 contracts deck now small ships and other Uny craft mati peres The Gulf of Monmar. - eas nal highs
Crain Futures
pileen weten
farding at the Mod of Truck. foxlay
Profit-Taking was the princi-
ا انار
A reaction started late in the pal cause of the deeline. Seat-ing and poders drifted from tered hedge selling also enteget, then highs us a price fang
apparently was satisited
ante when to cause fossen a vend and more during the thy
Expert bustuess
WON
slower Dawn i wn! Buyer ver Austran purchaser 448,000 bushels of Corni
'Sa
a expres
d
from Gull
will be bipard during the half of Septershti
poris
12 at 1.
export
enter ve
Lon
soy beans
that he's
Us bushel ok December -hipmezi?
100
part of the Indian Ceran west "if Ceylon and southeast of the
southern part of India.
ezles of 28 contracts.
The
rex contrnet closed points higher to 5 points lower
Closing prices:
No. 1 Rs Sept
27 (K)
Ded
30 ен
Standard contract
novering
wallart
T
In voluine expreted at this
an Shipping and commercial
terests here are confident terests have been pleading with the Sethusamudram project will move. "The authorities to undertake the [not only be started shortly but
delay in the will be completed the ingest
Che betare Atlet to develop interest
ecotomy end of the Second Plan-China | and wely transport facilities Mil Special. slocks for foreign trade Tactor
in view of the
considerable development of
shipping and reign trade which is envisaged In India's second Five Year [1956-41). shipping in-
Dec Mes
22310 34.00
3270
May
July
Sept
20 70
Rex contract
Sept
in.
Nuv
3490
Jub
Flat
12 00
July
Sept
Feasible
Six-Month Net
pound.
the
The early
Deleted! Lalure of besiging
Low perlicated cotton
abo was a supporting
fo, nearby October,
At the close, the list rule 5:
Pow
As a preliminary
step.
New
pants hugher. The market overnment of India appointext make 150,800, -pened or to 11 logher
Alan expert vomunittes to Cleans creed two
reconumendations. for pentine me higher
The Implementation. "T The
Cliffed,k 4482 kaler um banged.
Exypi polpenzest a web shalind Purchase of $180,000 bushels es wheat apl 200,000
Takath Bou 14 repaired, tinweten, October
Dental that the out will be compls trij
Marth et August 8
Alay
The Sethusaionalratn
11.
TUTW
project
}
Volume Cren integrat Portastable e
flowerment that the project is feasible.
230000
+1,1800 27,00
296,370
350, T
178,300
Whea!
les & 7 to 25% į Oi totag
Devenler crate, y unas 1 1 1 25%
Tobl
Jus
11,300
131300
3,600
51,000
18,700
112.00
nits.
NEW YORK
Futures.
Wheat, No. 2, red
קווין
Shows Deficit
Of $5 Million
New York. Aug. 14. TWA expanded its revenue Tralbe by 4 1⁄2 million for unles in June af 1950 16 increase net
for the earnings
onth to
The Committee estimuted that i The entire project woubl
100,000,000
rupers 1,339,200 bale,1117,500,000 sterling)
in- Veteries a canal 5,400 youde. long.
32 fel der net 150 feet wide 1 $2.491,000 75e a share en
Doltam, Neu apprunchpared with $2,307,000 t 69 a canal lock, a canal share last June. Chairman War- development or rea Les Pierson and Exteulive of Vice-President John A, Collugs
announced,
the
Prices of futures closed today canals, ♫
bridge, as follows:
India's southrusteru Port Tuticorin nd the construction of a project headquarters.
5 detobre
Ocember Marthi
Spot
2000-2171
Sept
2011 210,-
11.
ZID
Nuv
9241-
MAI
i spur
Мик
July
2254,-* 2171
160
149-12
3413%
1404
145
131
Corn, No. 2, yellow
ر الاياد
July
Octobe:
cs
34-451
3343
35 27
32 01
32 34
31.01
31.00
NEW ORLEANS
זמויות
However, the June Kein Was The Comunittee have
nol zufficient to offi earlier mended a site near the Pamban | losses in the six-months period borkige at the southern
Prices of futuris dosed today! wid as follow
Spol
Зрадля
Nov
M421
Maj
July
Eye
Sept
Nov
Oste
Sept
Nov
7476- 777-**
Spol
Soybeans, No. 2, yellow
Spol
249-250r
March
Sept
MARNA-
May
Nuy
2411-
Jati
2449.
Man
2471,
Judy Dember
entr
Miny
24094
Harley.
Spot
120-1400
New York flour.
200
༥་**k
$13.00
- United Prom.
WINNIPEG GRAIN
PRICES
Winnipeg, Aug. 14.
Prices of grain futures closed i
Loday in
follows.
rents per
Levenhei
LIVERPOOL
32 60
3044
3346
Pumban
Channel
ان
to of when an expense increase India for the main Sethusamud | 22%, la line with mounting in- ram canal, as it is called, to link dustry costs, hegated a 13%
the the Gulf of Maniar with
revenue increase to produce a Palk Strait which is a 40-mile net los: of $5.396,000 or $1.62
between north shart. channel
In 1955 TWA carted Cylon and southeast India. The $1,334,000 or 20 a share in the
separates' dist six months, Rameswaram istanet frian the mainland of south Ital Totu:
cperating the Gulf of Mannor (TWA's fed 2 vowels
months wos with the Palk Strait.
$112,110,000, un all-use
high. compared to $99,034,000 in 1955. Cumbined revenue Passenger inile for both domestic and international services were 18% ahead of 1055, from 1,575,593,000
1,827,910,000.
3236 31.05
Futures closings, in pence per ih, were as follows: Uld contract
Oct/Nov
Gen/Jan Mus.. Aga
May/June July/Aug
New contract
Det /Nuv
Dec/Jan
Mar/Apr
24.75-77
1.40-50
Alternative Port
Explaining the rens.dis for re- comm oilng the site a few miles west of the Painban bridge on the mainland. the Committee sad that being directly in line the port of Tutoria between and Palk Strait the site was the dils- for saving most suitable tance and time, while exenya: tion work there would be much Onetatik easter as borings had Indicated
24.30
24.19
i
25 05
24.20
bushel as
23.3
May/June
23.05
Gala
July/Aug
23.05
a trata consisting almos
irvy of sand.
ON.
#22%
Exyntian Kovnik
Dec
May
79 7949
Nev./Dec
53 No
Hye
SAO PAULO
Oct
1264
Der
120
May
Baricy
Ort. Der May
107% 1037 10274
Oct. Dec.
33: 30
37 09
Flaxseed
Mir. May and July all unatuled
Oct.
Der.
May
Rubber trading
30.13
duil wtx
TRADE DEAL
London, Aug. 15.
The visiting delegation of Japanese businessmen snd Industriallats and a number of Chinese Import and ex- port corporation have con- cluded contracts in Peking amounting to about foar million sterling, the New Chius News Agency TC- ported today.
Among the goods China will sell Japan are: soy- heim,
cashmere, matza, leather, wool, wild slik, tunk wood and tung oli.
Goods from Japan will Include: woollens, rayon. silk, sugar, watches,blay- dica, cameras and scientific instrumenta.
the
arcuoy added-Reuter.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done on
the Hong-
gain today with prices rising kong Mtock Exchange
the131 Slightly in Hae with higher, morning amounted to approxi- London cable Spot No. 1 Rss mately $475,000. Nuon quotations
quoted at 20 cents nad the morning's transactions:
Sharea BANKS
SINGAPORE
Buyers Sellers
Page .9
Street Quiet
Higher
But
New York, Aug, 14.
Strength in selected metals, steel, oll and chemical shares highlighted a generally higher but quiet stock market today,
buying
Burry near Chare Man, Bank
A brief the close red turnover for the scasion to 1,790,000 thares com- pared with 1,730,000 yesterday,
Industrial hirea us a group just about recovered yesterday's their lasses climbing 2.07 in overage. Utilities were iken but tra bevad just a bit on averagt,
Gains
the non-ferrous metals ranged past 2 points Anneonde, Kenneruit
and Phelps Dolg”, the inst selling ex-dlyklendi.
For
siceis,
Chrysler Matars Climax Molybdenum
Colgate-Palmolive to Commercial Credit Commonwealth Elee Conrotidated_Edbyn Continctial oil of Del Crano Co
.
Crown Zellerboct: Cuban Ainer, Sigar Diamond Alkali Dow Chemicals Dupont de Nemours.
Estiman Kodak El Paso Mational Chas Eric Kafirunel
Family Flowtier Corp.
Ford Motor
General Electric
Bethlehem paced with a rise of General Foods almost 2 points.
General Markers
Gen. Phab Util. Gotty Qui
Gulf Oil, depressed resently childden Ca
on disappointment over fullure Godrich BF1 Cu
to Goodyear Tire of an expected slack split
Heyden Chorteni mat:ratie, recovered 2 points Horstake Mintag Co
in the oils, Royal Dutch, also ingresoll-Rand
off sharply recently in reaction Inland Best C
Interchentical Corp. uneretainty. Int Business Machines
to the Surz Canil
3.
recovered nearly Texas Ch. Int Harvester and Philips Petroleum
rast Internodenal Nickel Internat Wal Paper, Tel 31
around
a poist. On the other hand. Continental and Shell last over a point each.
Air Force Orders
Bocin responding To big Air KAIPA
Fores orders, climbed nearly 3 in the aireraris while
more than 4 point.
It was a quiet day today with | HK Bank 1030) 1050 10 w 1940 North American Aviation lost some trade buying against
ne INSURANCES There was no parti-La reptantes
eular trend locally.
No 2 rubber per lo. Aug No 3er per
pot mister unbeded Blanket cre
No. 1 pale crepe
LONDON
1001-$6
דוד
was high grade with Boing, tiulf, Chryster, US 100 15.00. Steel and General Motors top- 1-424 1475 1560 6 1475, uing the netive list
or 1,130 issues traded, 477
19 360 30.30
Jiho Maitse co
Meat From Corp
New York Central
Olin Mathiesen
11 Revalori
Dwen-nia Glan
Penny J.
C. Cu
Fents. Salt Co.
100
134
#21
Kansas Power & fall
kenneenth Cupper
13311
I get Meyers Tob Co
074
I where Alteraft
4834
Low Inp
21
Lone Star Cement d'
Lorinville & Nashville R.
1013,
Lowenstein & Sons
931%
Minnesola Mining
7194
Mission Development
3712
Monsanto Clinical (6.
Unk
[150]
Montgomery Ward
421%
40
Mutocola The
Future closings were:
SHIPPIN(7 Wherlock
B 70
400 2000 let 0.75
2400 p
5.80
Locws added a point company
49
the
National Casti Reg. A"
57
National Datry Prod
No rubber set th
1000
10
of
onwunced the lease Bem ibrary to a Los
National Leach
$10
National Steel Curp.
AUR
102-1022
178)
ณ วน
Sept.
101-102
umquolel
DOCKS, ETC K Whart Dyck
Arsteles television station for 4 millory and in turn required; u
30xd
ADTLXd
477
1000 41
25 per
In ceni InterESE
the
7046
Aug
97-071
Nubber her th Aug
Providers
(0)
14 1390
500 w 13.88 2013.0
station.
Pacife Cux & Elec
31A
Pan American Airways
101
Faramount Pictures
224
01-552
LAND, ETC
Leadership
Parke Pavis Co.
123-123
HK Bow
Kan Humphrey
1.3 14:00 ANIA
G7
1250 1400
10
H-uity
Ampl
1 473
Nn
Man
301-301%
Settlement house
Trum UTILIDES Tenan
1.30 1.1123
Sept
31-20
Oct./Dec.
2924-2907 Yousunu
T
Jun Mar.
Apr./Jme
2834-2814 C. Light (0) 29.70 23.00 27-274
23 10
100
24
110
100 mm 23 y
1000 73.70
118 1
500 4 23.40
500 23.00
Juty/Dept...
unquoted
2000 un 21,70
Genusal markets, eif basis, poria
A
Sept pel
295-29% 20-291 29-20'.
C. Light (N) Electric
30
21 21.30
31
500 ur 21
1000 g 21.20
200 31
500 u 30.73
Estole crepe
thin
Telephone
Aust.
Bent.
thick
302 uniquoted
Amsterdam rubber prices were unavailable.-United Press.
Telephone
(N) INDUSTRIALS L'ement
200 12 23.70
roles, ETC
Watica
351
i5 70 11.70
JEL
10
250 a 3504
1. Craw 20.20
CUTTONS
Texille
440
INVESTMENTS !Yangtze
0.00
400
6,00
The market was stendier with spot quoted at 30% pence per | RUNDER
Prices:
revenue for New York Sugar
TWA's second quarter proft this year was $1.148,000 or 34e a share compared to $3,139.000 or $1.54 a shore in 1055.
Six months sumendova
Market
New York, Aug. 14. World No. 4 sukar
futures closed one to two points lower with sales of one contract.
3
Domestic No. 6 ruger futures closed one to two points higher with sites of 132 contracts,
of With the
exception transaction of 100 contracts in the nearby Scptember domestic wis futures trading position, dull.
Contract No. 4 (world)
Dutry
Carp
200 31
24 00 24.20 2000 24.50
140 € 34.00
IDLH 4 24.70
were higher. 393 lower
Exchange New York Stock bond volume was $4.120 000.
American Slock Exchange was 710,000 shares. Dow-Jones
were:
30 industriais 20 Falls
18 utilities
63 stocks
40 bonds
closing
Comm. future price indux Comm, spot price index Moody's index
averngos
Closing Prices
500 12.0 Allen Inc. ACT
Singapore
Stock Market
Singapore, Aug. 15. Brokers today quoted the fol- lowing stock prices:
Allied Ched]<
Allied Mila Ing.
Allis Chahneza
American Airline
Amerkan Cable & Radio Corp. American Cyanamide Co Arm. Maub. &e P'dry Amer. Forsign Power American Metal American Bmelting Am. Sugar Ref. Amaroon Tel, & Tel. American Tub. "B" Anaconda Copper Aureo Steel Armour
$17.27
106 34
To 7A
Philip Morris
Procter & Gamble Co Pittsburgh Plate Guas Publicke Industries Pure Oil
fladte Corporativa. Sepublic Steel Reynolds Metal Shell Of Co.
Saint Reg. Paper Sinclair Oil
Sucony Mobiloll South Puerto Rico Bugar Southern National Gas
Southern Railway (Com)
187 23 Standard Bra
04.03 Standard Oil of Cal. 100 04 Standard Of of Ind. 104.27 Standard Oil of N.J. 422 00 Sterling Drug Co.
191
Stokety-Yan Camp. Studebaker-Packard Corp Swift & Co.
Texas Co
Tide Water Asan. Ou Twenty Century Fox Film
109sxd Union Carbide
33% Union Picide Railway ished Aircraft
33
24
U.S. Gypsum
545 10.8. Line Co.
73 US. Rubbor
301 US. Smetting
141 US. Steel
302
Warner Bros,
56% Westinghouse Electric
West Va. Pulp & Paper Woolworth
473%
--United Press.
NAMESAKES
Answers:-1 Plot, 2 Justice,
6 Ap- & Tragedy. Roman, 10 Heavy.
plause, 6 Thyestes, 7 Crisis,
11 Actors, 12 Dynasty.
1021
183%
7731
3
1944
Hrtelwin-Lima-Ham.
Baltimore & Ohio
DOL
Revenues
1950
1950
$112.319,000 $99,034,000
Bendix Aviation Cory).
521
Benguet Com
en
Net Earnings
Sept.
3.30
|||||
Orl.
Per Share
1 $3,390,000)
$1,334,000 $20 (1.02) Based on 3,338,955 shares out. Harding by 1980; 5,336,747 In 1953.
Mer
May
3.31
Tin
July
בה.il
Ord.
Sept.
3.34
Febrer & Neave
Opening Batu Lintang Rubber Co. Ltd. $1.02
Petroleum British Borneo
Spaciouve
.... ON- Consolidated
Smelter
29/- ord,
Bethlehem Steel
104
3 Climax, 4 Declaim,
Hoeing Airplane
Borden (The) Co.
01
Burroughs Add Machine
42
Canadian Paelle R.
35
Cape 7. 1. Co.
14%
$1.52
Spot-(ennis per
PrLLEY & Neave
Lid 15%
Cuba?
3.37
own, pref,
23.00
Cut. Tractor
Celanese Corp, ..
C. I. T. Financial Corp.
DIE
154
45
Lucius tragedian).
Seneca
Centraal No. G
Hongkong & Shanghat Bank-
Sept.
ይኩ
ing Cap
$805 xd
ps/g
Nov
1.58
Kempas Lad.
$1.75
Min July
1.41
Spot-cents per lb. cif NY
ex-duty)
$.51
6.65 United Press.
..
$2.85
fedaling
REAR CARD 38829
3301 30216 3014 Wheat, No 3, 101 ents; No. 3. 140 cents-United
Preis.
Futures closings, in cruzeiros per kilo were as follows:
One of the most Etficant suggestions of the Commitee is
developing in regard to alternative port to Colombo.
The Sethusamudram
an
Navig London Markets
In route. it stated, could ne be a complete alternative to the rod-Ceylon routes unless it had on it a port and harbour which
In the US the average price of would provide the same fuellities one-inch middling cotton at 14 for ships using the route as did designated spot markets Was the port and harbour at Colom- 33,03 etnis. Sales totalled 13,472 bales. United Press.
Tight Credit Restrictions Effective In Germany
Frankfurt, Aug. 14.
The Bank Deutscher Laender said that its tight credit policy had been increasingly effective in the past few months and expansion of demand in many West German markets was slowing down,
50
on the
other
Island.
'
side of the !!
Maintain Improvement
London, Aug. 14. Business
stock on the india's southeastern nort of market was small but Tuticorin was, in the opinion of
Lunas Rubber Estates Ltd. 0.15 Malayan Breweries
New Secundab Rubber Co.
140.
Tin Lid. Baffles Hotel Singapore Cold Storage
NEW YORK METAL South British Insurance Co.
minor port among the eastern ed; most sections showed.; ports of India and at present small gains. handies about 459,000 tons of
cargo a year. Its development,
suggested the Committee, should
be so designet from the outset but
FUTURES
the Cominittee, an obvious Yesterday's cholce. Tuticorin is the leading | provement
modest was maintain- today as
im-
New York, Aug. 14. Prices of metal futures closed
follows in
cents per
Lend
Tin
Markets ignored Wall Street
AUR. Sepi Aug. Sept
15.10b
13.10b
U7.800
97.405
were encouraged by the
Zinc
Copper AuR.
AUR.
13.02)
Sept.
13,00b
Sept.
38,100
bonds Brush Government
two edged upward in one or eases as much as flytysixteenth
chain Amorg Industrials Etores, engineer, shipbuilding aircraft-makers attracted
United Press.
LONDON METAL
PRICES
that it could be used by all ships July trade returns.
which at prosent use the ports and harbours
Cochin, of
Colombo and Madras.
Two-Way Traffic
The
canali and Sethusamudram
But, said the Bank, it was necessary to maintain alone is estimated to cost about buying,
6,700,000 rupees (about £502,500 American favourites mit some
credit restrictions because West Germany's sterling). It would have two-selling, notably Borax deferred
way traffic. The lock in the general economic was still extremely unstable,
canal will cost about 12,000,000 which fell nearly 4th sterling
to 10-3/32 sterling. rupees (£900,000 sterling).,
Germans were idled but the Economic stability might bo rises by 622 millions in May and
In the interests of navigational endangered the growth of 310 millions, in April. How convenience and
BRfety
The Potash bonds lost 1 sterting. Banic repeated ite Committee attaches over, the
great im Japanese hardly stirred... It previous view that the increases portance to the inclusion in tho Oli sharte soldorn showed on was also threatened by wage did not represent long term ten-scheme of a lock. It points out the tape. In the main they lost increases which axceeded in dencies but were due to tem-that during the northeast mon ground notably Royal Dutch, creases in production and were|porary factors,
soon the sea irvel in the Palk down three-fourths steriing to Straft is
likely to be higher 70.
West Germany's foreign change reserves 'continued.
EX-
a permanent cause of price in-
bid
*x-
2001.
39.30b
London, Aug. 14, Prices of metals closed today
Lid.
| Structa Trading. |Strašte Steamship
Undied Engineers Ord, Woerne Bros...ta
Cumov-China Mail Special.
London Foreign
Exchange
New York
Montreal Amsterdarn Tiries Frankfurt
flats Paris Zurich
Others
Prem
London, Aug. 14, 2.78-3/16-3.78-8/10
·112-11/19-2.72-33/10 10.04-10.049% 139 234-130744 11.70-11.7014 374724-174834
12.10-12.384 unchanged-United
in sterling per long to, as fol- New York Foreign
lows:
30111
buyers sellers
Tin spot 3-month. Copper spot Smanth Lead 1st half Aug.
Nov.
773 775
760
300 305
2ño 1xt half Aug.
Nov.
15
0015 0
United Pren.
FUTURES
Chicago, Aug. Prices of lard futuroscolosed In cimis per lb, as follows:
The Bank predicted. • creases. The Bank, sold that dis
than In the Gulf of Mannar and Buez Canal fell 1⁄2 sterũng in CHICAGO LARD appointingly slow increase in increase in imports which might the reverse in likely to be the 65%-United Froms. · saving deposits showed the pood considerable foreign
case during the
the southwest mon public were to some extent change soon.. The present: gold
M nervous of last year's excessive and foreign currency reserves
In would cover seven monthe im«
the absence of a a lock there expansion.
ports based on the monthly would be a strong current which The Bank, said West Ger- average for the first half of this would lead to erosion of th many's gold and foreign ex-reer. Gold and dollar reserves banks of the conal, in mekistions
continued "change" "reserves
to alone would cover only five to hindering navigation.
· Imports---China -'rise. They increased by 715 months
Mall | A spokesman for the Governi» 2314; ciowe 234, 'net change off
nement of India, maid/tist = "the | Va, pales 2,870,2 milton marks in Juno against ' Special'ı
TORONTO EXCHANGE
Stoop Rock him? 234
| Canada
Exchange
England Do-da
New Zealand.
South Africa
Argentina'
Other
New York, Aug.' 19.
futures 2.75-20/32
2.78-11/10
0340 were inchanged ——Visited
Exchange Rates
(Roman
TYPHOON MAP
with revised codes in force as from
1st April, 1956,
$500
MOUNTED
$4° UNMOUNTED
from
South China Morning Post Ltd.
HONG KONG GTKOWLOON.