WORLD COTTON
MARKETS
New York, Sept. 19.
Cotton futures today see-sawed narrowly in quiet dealings but showed An overtone steadiness most of the time,
up
Closing prices ruled 2 off to
3 points. The market open- cd of 2 to
New up points.
Orleans closed up 0 points.
Buffelent support from trade Intereals developed to absorb an Increased volume of hedge selling, refeeling the rapid ex- harvesting opera- ension flous, plus October liquidation belure the first notice day Monday,
of
TRADE
THE CHINA MAIL, THURSDAY, SEPTEMBER 20, 1956.
and
SECTION
Page
Wall Street Stocks
New Search For Oil In HONGKONG|Wall
New Zealand
London Stocks
Show Little Improvement
London, Sept. 19.
EARLY RESULTS SAID TO BE VERY
FAVOURABLE
Wellington, Sept. 19.
Over £1,500,000 is being spent by two groups of oil companies in a search for oil in commercial quantities' in New Zealand.
WORLD
RUBBER
MARKETS
New York, Sept. 19. The No. 1 Rss rubber future closed today 83 to 15 points lower with sales of 11 contracts.
Closing prices:
4:pt.
Des
31.30 32.10
The rex contract closed 30 to
75 points lower with sales of
contracts.
STOCK EXCHANGE
ifrom Der Correspondent)
Business dtoe en the Hony. Kong Stock Exchangs this muri- ig amounted to spproximately $236,000. Noon, quotations and
the morning's trañmetions:
Shares Buyers Sellers
BANKS BK Bank
INSURANCES
1024
1003 1025
Sajas
Continue Downward Path
New York, Sept. 19.
Stocks took a bubbling again today-again without any 'specific thing on which to pin the blame.
Today's decline progressed. L. T. Financial Corp. steadily from n arm opening, Chrysler Motor......
Chase, Manthat, Bork
to 4 1030 accelerating In thn late after- | Cilmax Molybdenum
noon. It was somewhat milder Colgate-Palmolive Co.
Commercial Credit then yesterday's loss, wiping out Commonwealth Elec. about $1.5 billion in total mar. Censclidated Edison ke values,
Continental Oil of Dei, Crane Cost
Union
SHIPPING Waterboal
(0) Waterboat
INI
2370
Wheelock
0,00
$
Sept.
33,10
Nuv
32.30
DOCKS, ETC
Mar
31,40
K. Whart
ODIL
May
30.70
Dock
Julb
90.40
Provident
18
Sept
20.00
(0)
13.70 13.50
00013,BE
75 points lower with sales of 22 contracts,
Stundard contract closed 30 to
LAND, ETC
HK Hotel
10 20 15
IX Land
XD
GO 10
Humphrey,
20
31300
31.00
RUBBER
Amal
30.00
Truri
1.625 1.00
30.36
29.70
UTILITIES
Trikoi
21.30
of
Yaunat!
100 110
2. Light (0) 2415
There was little or no improvement in business Because if the small certäent.d at the opening of the new markets
The head of the Beld research The British Petroleum Com- "x-account in stock 6ck--3,540 Male - ders
team In this new venture parted few, if any, indiibi in
general patty of New Zealand has Joined unsatizures with another New Zealand, English-born De H.W. Wellman,
De Company to carly vul a search a former member of the
In- wver the east coast Including partment of Scientific and
Geological Ifshore extending to 12,000 dustrial Research
by He will be joined square miles. They are spending | Survey
from Slely an initial £500,000
two od geulogįsis
act and Canada
derm.
Technicians supposed some esf The Frade buying may have bera for milt eemure to fortify invn- low of the key pit ons unikually anali stocks of rew
in commuming The cau et Augus. tracts m Oetoba dodav 108,100 kuže
cotton reported places
Open
Month
Octobe
December
Mares
BLA
fly
October
December
March
Total
Jiieii {ts3ngt་
jon, tou
Voh me
7,400
1,500
6333,4410
208.700
0.006
238.34M)
7,000
23 204
4,100 3,300
54 B00
40 ADD
100
1,400
49,700
1.011 7 ble a
NEW YORK
Prices Futures closed today
as follows
Spat
CH'T
Des
Mar
May
July
Ori
Dre
Mar
NEW ORLEANS
344
15377-70
Prices of futures closed today
BRABBAMAS
$782228
J
today, but the
Was
not
d
tone factory.
GL
see
he-li closed day, and atvndly slightly dimer where changed. Consolt 21% per cent cure 1 8th to 51% sterling, and Way Loan 3 per cent 1.16th hahri 70% sterling.
1.11
MJESTO
An
unother At The
Fame joint company explation which erufl al
o! expenditure £1,000,000 25 Taking place the west cost of tria island.
FAILED IN PAST
O cơc | 12 ivaner, wil Plused with guins up to 2 shi- lng British Petroleum rgwe Bl
143 4-1/3d and Bumi shillings 1 pende highei
2
Several searches in the
past
at have falled to uncover deposits.
BRs 10d. Royal Dutch jumped in sufficient quantitres to make
1 points to 84% sterling.
Industrials
thea regvery D VVanmerema) Ino- ! position. # Have mixed display. Imperial Chemi-1
However, surface Indications to 43% d cols rore 6 pence
ot the presence at
the fell is 34 to 46s fd, Downter
part of seepages and gas flows: ofter going ex-dividend
New Zenurut Foreigners
and are in parts of อาย! " WOTT
Matthmagh fles e uld he must nominally unchanged
Sucz Canst sharer fell one leading putat to 51 sterling -United | ¡'ress
New York Sugar Market
New York, Sept. 19. World No 4 sugar futures
to 2, else{ttac]zy unchanged polute lower with sales of 14 CORVÈracts.
Domesite No. 6 sugne futures closed unchanged to 2 points Rowe with sales of 59 contravis
Worki vuntruet activity locked
L
follt wa
Squal
Dec
Mar
MAN
July
Out
Dec
Mar
LIVERPOOL
Future closings,
in poner proj
Ե
!
24 UP
24 78-79
24 10
24.30
23 17
222 11
334 330
2477
2477
24 27
Sole Cuban Stal-frente pe
Contract No. 6
22
ss00
New emptract
were as follows:
Old contraef Oct/Nov
Dec Jan Mar/Apr May/June July/Aug Det /Nov Dec Jan.
Mar Apr
May/June
July/Aug
Expuan Karonk. Det /Dec
NAO PAULO
Future closings. In cruzeiros.
per kilo were as follows
Det
DN
Mai
May
July
In the
Reports by the New Zealand Geological Survey Department
have been favourable
اب میشه
Dec
a paleontologist
Mar
from Papua. The four will form which the nucleus of a tenm will be enturged as work proe ceeds
Two during the next years.-Chim Mall Special.
atay
July
Hepl
East Africa Freights Watched
Intra-dealer
33.30
switching March standards for March 10x contracts made most of the ter minal market activity. New out- de market interest was held in abeyance pending Suez develop- ments or some other new incen- Úver,
Anticipating the metal con- sumption
in a day or report two, tinde estimates pointed to an August disappearstice of be- Tween 115,000 to 117,000 compares with 93,000 tons ured in July.
T
The toes in valuce no far this crown week ruta close
to $3 billion | Cuban Antser. Sugar
Diamond Alkail
Dow Chemicals
and for the phat ten sessions is tioned $7 billion. There has Dupont de Nemours
usen andy one advance In this porlod a billion dollar gain last Friday.
Two
Eastman Kodak
El Paso National Ga Erte Railroad
Family Finance Corp.
Ford Motor
red Electric
Genom Foods
General Motors
Market analysis can pinpoint specific faciers behind the decline.
They see the Suez un certainties and election
iderations responsible for much olden Co.
COT-
Gen. Puh. Utu. Getky Os
market hesitarey. They note Goodrich 15. F.) Co
1.43 130 5000 1.475 there is simply a lack of demand Goodyear Tire
and a similar lack of traders Heyden Chemical willing to sell, shoop” price swings one volume
C. Laghi (Ny 21 10 23.00 Biectele
31% 31
Масао Е.
(01.
$300 on 2419 1848
making
some tomake Mining Co. Ingersoll-Rand modest and Steel Co.
Turnover today totalled 312,040,000 shares compared with
2,200,000 yesterday.
24.70 24.90 100 24.70
23.70 23.00 200 23.00
Telephone
Telephone
(N
INDUSTRIALS Cement Rupe
30.75 37 12.70 13 20
500 6 47
STORES, ETC. Wolsmi
1270
Lane Crow
20.60
tons
Sinceres
200 m
COTTONK
Textile
Corp
4.33
4.50
EC-
MISCELLANEOUS
Vibru
Ailled
London, Sept. 19.
Factory buying Interest The East Africa Freight
mained sluck and limited lo needs. Spol Rates Conference is keep-immediate All-in
INVESTMENTS AD No. 1 fuss was quoted nomiu- ing the question of
freight rates ally 33 cents a pound. increase in
Shipment offerings were to under day
day con- moderate
and too high for
*Som it East.sideration,
was stated domestic buyer interest.
November three today.
reported dono at 31 cents, de- liveries boss,
*On a geologica) basis we do not expel New Zealand to be-
another Middle CNCHITEC Geological conditions just do
'exist," said M. LG. Hucks, Mar
Bul
Only 211 Higher
Of a total 1,145 issues appear.
ing on the tape, 690 were lower, only 211 higher.
Some of the sharpest declines
In were
non-ferrous
metals,
1.73 ringing to nearly 4 points in
aluminium,
sheels were CHICAGO GRAIN
SINGAPORE
Zealand managing directe
Some cargo and passenger Petroleum
the liners on East African scrvices British
are being re-routed around the discovery of oil in New Zealand will undoubtedly be
very Cape to avoid passage through
The market
opened steadier the Suez Canal, but so far there great importance to the economy
has been no change in freight but leased off toward noon of the country us well us frent
because of some trade selling. charges a strategic point of view "
To date four ships have been Future closings were: New Zealand is now impair!- · re-routed. The 8,000-ton Har-No. 1 rubber per 1b. Oct.
Dhe- ing all the oil the country ses
rison Line cargo vessel 1,500,000 tons of petroleum fender which left Britain last No. a rubber per Ib. Oct.
Friday is going round the Capo No
a deflate feature. Trade in terests were on both skies of theproditets lust your domestie dellveries
Contract No. 4 (world}
W
220
Blanket crepe
1 pale crepe
Dev.
1214-03 Nov 021-925
unquoted
0914-00' 00-871
0214-02% 75-17 120-122
MARKET
Chicago, Sept, 19. Prices in grain futures were irregular on the Board of Trade today, the last day of trading in September deliveries.
Interchemical Corp.
In Buress Machines Int'l Harvester.... International Nickel international Paper Lirt'l Tei da Tel. John-Menville Co, Katmas C. Power & Light Kennecott Copper Lisgell Meyers Toh, Co. | Lockheed Aircraft
Loews_Incor
Lone Star Cement Co. Louisville & Nostiville R Lawenstein & Bons. Messbi fron Corp. Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Iho, National Cash Reg. "A" xa National Dairy Prod. with Allied and Dowdon around National Lead 3 each.
Boeing, Bendix, Douglas and on Mathieson General Dynamics fell around a or Elevators point in aircraits,
Steels had losses running closu 12 points in US Sicel,
Chemicals were hard hit again
Oll losees ranged around 2
points in Cities Service and
Quit
Steel, Royal Dutch. Chrysler, General Motors and Standard Oil (NJ) headed the list of active issues.
New York Stock Exchange bond volume was $3,530,000.
American Stock Exchange volume was 700,000 hores,
Dow-Jones closing
Liquidation of September coin! | were: and soybeans contracts brought sharp drops in these commodi-duals
the lies toward the close of ression.
Rye, however, traded at new today on short
In torms of erute on world Dar Es Salam, Zanzibar and No. 4 consumption last year amounted Mombasa. The Clan Line and Spot rubber unboled
800,000,000 tons. World con- Ellerman Line, both have ship No
the next month in Newving 333 sumption is increasing annually leavi
LONDON 33by 10 per cent.
service with under their joint Harrisons, but no decision has
Feason highs was dull been taken about these yet.
The 17,000-ton Union Castic easier with spot down 1⁄2 penny covering. parsenger-corgo liner Braemar to 28% pence.
has been re-routed from! No. 1 Ras put.. Castle to Britain round the
Mr Hucks said that proven reserves at the end of 1855 amounted to 20,000,000,000 1073 and if consumption held at inst¦| 42 year's figures this wouki fast for
only 32 years.
Spot-Leents par
ex-lutyn
e NY
United Pre
5 35
30 00
40 20
3000
0 20
US the average spot |
price was 33.05 cents Sule
totaled $4,304 bales.
KARACHI
MOST IMPORTANT
About 7,000,000,000 tons were Western Hemi- located in the
time The and sphere
fonts 1
London Foreign 1.000.000.000
Exchange
London, Sept. 19.
Closing rates were: New York Montreal
The market was a bit irregular | Amsterdkon
Prices today.
closed in rupees Copenhagen
per maund as follows:
47 Bind
200F Sind
Humein
Milun
Paris
roller gin
T1/11 | Stockholm
roller gin
Baw gin
70/3 *!!
Zurich
812/3
259F Punjab roller zh
aw gin
2 70 5/10-2.78.7/10 272-2.72
10 12-1952) «
139,273.32+
19 344-19,34',
11.00-11.70%
1741-37415, 14.03-242182
12.10.-12.19
Others were unchanged,
New York exchange vie
Eastern Hemisphere 17,000,000 tons Middle East.
.1 WHEN
"
1
Ci
pe
The market
Prices;
Settlement House term:
Oct.
Nov
Dec. Ocl/Dec
1015
and
Wheat held throughout mosi of
stendy The session al a 26-25 position on trader belief that the 231-281 774-2713 next crop would be reduced by 28-28 the soll bank, along with re- 2014-2011
existing ports of the
drought condition over most of the win ter wheat belt.
Juty Sept. General markets, elf brusts, porta: 20161 Bept Orl
20-1-2731
L-27 Nov lar- Estate even ihin Det.
British India Steamship Com- pany's Juxury 14,000-io Jun-Mar senger liner Kenya is now en Apr/Suns
for East African porta route round the Cape and it is under- tie (stood that one of the reasons for which changing its route wway from
Mar- SUZ
Is that Princess the the
scheduled 10 have garet
aboard on October 10 that dinner throughout during her East African tour.
The Kenya's "win" ship, the the world should be carried on
14,000-ton Úgands was re-routed must urgently and it was that reason that the major all from Mombasa round the Cape Just Saturday, it was announced every companies of the world
here today.China Mail Special. substantial year were devoting proportions of their profits and reserves to exploration, said Mr Hucks,
It was most important the search for onl
80/3 were unavulimbic.-United Press, the past the known reserves
United Press.
US Doubling Use
Of
Aluminium
Houston, Sept. 19.
$set
If they had not done this in
have
the world already would been exhaunted.
"I would say that we believe
Insurance On Sailing Day
New York, Sept. 18. American underwriters of war
that an intensified search for oil risk cargo insurance announced in New Zealand Justified be- that shippers now will have to cause of the importance of dis- pay rates in effect on the date of covering fresh sources of oil,"
sailing. he added.
As the
Previously shippers could get
AMSTERDAM
The market was quiet. Prices closed today in guilders per kilogram, cif Oct. ds follows: No. 1 rubber No. rubber
No rubber
50. 1 стеро
Wheat closed off to upy echi; soybeans off % to 3% cents,
Prices per burhel in center
Wheat, No. 2, red
Spot
23 rolla
In ultiem
05 stock# 40 body
Comm, future price index Coman, spot price index Moody's index
National Steel Corp. New York Central
Owen-Illinola Casa Pacific Gas & Elec. Pan American Aleware
Paramount Pictures
Parka Davis Co. Penny J. C, Co.
Penn. Balt Cr.
Philip Morri Procter & Gamble Co.
tuburgh Plato Glass
Publicker Industrien Pure Oil
Radio Corporation Republie Steel Reynolds Metal Bhell Of Co. Saint Reg. Paper
averages | Sinclair Oil....
Closing Prices
Alden Inc. Acy.
Allied Chemicals Allis Chalmers Amerionn Airtime American Cable & Radio Corp. Amer, & Forg, Power Am, Manh Phong, Auseritan Mete Amberton Suelting American Tel & Tel American Tob. "" Anaconda Copper Armco Steel
Americă Cyarımļde Co.
Closing prices | Armour
2273.
Atlas Con Mining
Baldwin-Lima-Ham.
Daltimore & Ohio Dendix Aviation Corp. Benguet Cona.
Betlehem Bteel
Boeing Airpimme
Borden (The Co.
156-158nurroughs Add Machine
Sept. 2283) 20W
Дес
225-3411
2014 230
Mar
281 buyers 2.38 2,50
Play
July
Carn, No. 2, yellow
8.49 nom.
Spot
United Press.
Sept.
1801-15
Dec.
141-fi
Mar.
May
143 14714
July
Bro
Sept.
Dec.
162 1845-
Osta
Sept.
Singapore Stock Market
Dec.
Soybeans, No. 2, yellow
Canadian Pacific A.
Caso (J. 1,) Co.
Cat. Tractor
Celanese Corp.
*A
Singapore, Sept. 20. Brokers today quoted tho following stock prices:
Spot
Bept.
Nov.
Jan,
MAT.
May
Opening Barley
01.09
50/- 21/03
Spot
New York flour
200 tb, sack
*****United Press.
Ord.
........
In North Island there are now | so-called forward binder fixing two major oli groups employing rate se
seven days in advance of all their knowledge and focilities sailing.
Batu Lintang Rubber Co.. in the search for oil.
There has been no change on tld. deld teams' knowledge of the
Burneo the rate charged by Ameriem | British,
Petroleum Syndicate of the country increases,
however. Those re Reology Kaiser Aluminium and Chemical Company so will the prospects of Bnding
dint insurers,
main at ten cents per $100 to Consolidated Tin Smelters or diminished, has estimated that the United States will double oil be enhanced
$100 on most voyages through Fraser & Neave 15% dan Is starting again, oli seepages
prof. its use of aluminium in the next nine years. The On the east coast, where work plan parts and 3% cents per Frater & Neave Lid Ord, Suez Canal.-China Mail Hong Kong & Shanghai the Thousands of
Banking Corp. `company's expansion plans will help to furnish the are widespread.
of marine sedi- Special. square miles
Roni Hồng Tìm đư. metal when
to
imentary basins of great thick-
Kempa Lid. Lunas. Rubber Vice-President and
Donaldness are contained in the tres,
FOSTER SEARCH
Browne.
it is
needed, according Treasurer, Mr
one war.
US
$1.00*
130-148
$13.3011
Winnipeg, Sept. 18. Prices of grain futures closed today per bushel' ir cents a follows:
$3.00
$555
Osta
states Ltd. 0,85
Oct.
23.02
Dec.
New Serandah Rubber
Ltd.
May
Pateling Tis Ltd.
12.43
Byo
$1.5136
Det.
130
Dec.
NEW YORK METAL Mn Breweries
PRICES
New York, Sept. 19. Prices of metal futures closed
Lead
Sept.
Oct.
Sept.
Out
Sept. Oct.
Copper Sept
Hames Hotel Roman Singapore Cold Storage Beat British Insurance Co.
Ltd.
18.100 Bill Trading. 13.100 Straite ateamship 100.bot Unived Engineer 100.006 | Weume Bros.
13.000 ⚫cundiv. I 13.00h 20.966
During the past decade, le as much aluminium as the
The Minister of Mines, Mr said, consumption of aluminium produced prior to the last world w. Sullivan, on learning of the today in cents per ib. as follows in the US had risen from million tons annually to two
Meanwhile the Kalier Alum-new venture said that the Gov-
had ernment
always been million tone. By 1965, the com- nium and Chemical Company anxious to foster oli exploration Tik
the US to con- has confirmed through its local in New Zealand and had omend- pony expected bute more than four million attorney in Lakeland, Florida, ed legislation to make this Zine toda a yebe,
Over the shorter that it will build a plot plant
ant possible. razgo, midi Me Browne, Kaiser on the phosphate mining pro-
The cost of exploration is pects a abortage of aluminium party Virginia Carolina
of
very high and by no means al- to continue through 1957, with Chemical Company at Nichols,
le determine what minerals or ways successful. Depending o sight surplus in 1958 and shortage, wid-appearing in 1989, chemicals con lp extracted the nature of the geology in
Four Times
profitably
wastes.
volved, the terrain, location and from phosphate depth desired, the cost of drill- ing a well could range between
sub-
United Fremo,
LONDON METAL FUTURES
London, Sept. 10, It was thought here that the £20,000 and £1,000,000,
Prices of metale closed today Ho mid that the company's project might be aimed at res
According to Me Hucks In starling per long ton as ouretit 178 villion dollars ex-povering flourine-coptalning
misconception
AURYNC crop follower ped uplit oil was in dome pansion programme was designed stances.
primary Largo tonnages of fluoride are petition with coal and nuclear po
E-month espacity" from 488,300 tons of jused,
tjes blast furnaces and as onerry wo wothing main souredd Coco spos minium metal to 887,000 Lona posle the reductions of of ner but that was hot by end by: 10681 at the lime, the communiatura from ke ores. All three sources but neod to Lond panor walls-ben jou fout wow, ohm also und in the be fully exploited to meet the med vilmen, au famuchy, metal me it did metallurgy of other metals how requirements ^ In 1950, and pone than four times China Mall Special
future
of
the
-China Mail Special.
NEW YORK COFFEE
*FUTURES
New York, Sept. 19. Babtos "B coffee, fulares fou day aloyod 8 to 15 points lower! |with, asics) of 125 contineti
Fort: 01 cafe,Prices::
Spot Bantos" (49 ́te
Finxsend...
Dub.
May
Bocony Mobil · Oil Bouth Puerto Rico Sugar Southern National Gas 488.72 Bouthern Railway (Com. 156.76 Standard Brands 67.21 Standard Oil of Cal. 106. Standard O of Ind. 02.03 Btandard Oil of NJ. 100 R5 Steep Rock 164.22
Sterling Drug Co. $51.30 Stokely-Van Camp.
11814
110
Studebaker-Packard Corp. Swift & Co.
Texas Co...
Tido Walet Asmi. Ol Twenty Century Fox Füm Union Carbide
Union Pacific Railway United Aircraft 28. Foll "33" BUS. Gypsum
041 1.8. Ling Co.
US. rubber
0319. Emelting
14
28
812
172
Warner Bros.
UB. Steel..
Westinghours Electric
754 Went Va. Pulp & Paper
Woolworth
United Press.
NAMESAKES
Answers: 1 Charon, 2 Frogs, 3 Comice, 4 Styx, 5 Laughter,
#Clouds. 7 Wasps,
8 Athens
6
Elysian, 10 Audience, 11 Greeks; 12 Ulysses.
Aristophanes,
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