THE CHINA MAIL,
TUESDAY, SEPTEMBER 25, 1956.
Page
TRADE and
COMMERCE
UK Emergency Budget Denied
SUEZ SITUATION WILL
HAVE SHARP INFLATIONARY EFFECT
From AN ECONOMIC CORRESPONDENT
London, Sept. 24.
Despite steady if unspectacular impovement in Britain's economic position in the first half of the year, rumours began to circulate last week that the Govern- ment were planning to introduce another "emergency budget" this autumn.
HONGKONG WALL STREET UNABLE
STOCK EXCHANGE
TO HOLD GAINS
SECTION
WORLD New York Cotton
RUBBER
MARKETS
New York, Sept. 24.
The No. 1 Res rubber futures contract today closed 83 to 115
Futures End
Steady Note
On
New York, Sept. 24.
Cotton futures ended today's session on a note
points lower with sales of 48 of steadiness after see-sawing narrowly in active
|contracts,
Closing prices.
Sept.
Dec
The rex contract cloved 95 10 lower with sales of
New York, Sept. 24. Stocks were unable to hold the small gains 100 points made early in today's session in the face of notice- Hong-able neglect.
From Our Correspondent)
Business done on the
kong Suck Exchangs this morn ing amounted to approximately $800,000. Noon quotations anki The morning's transactions:
Buyers Sellers.
dealings.
Simil post-opruing proved enough to nudge marby months to new seasonal highs. Afterward hedge stling and raising curbed fresh rallies. Trade Interesis were the best buyers on small dips below th previous clore,
fo
market opened points to
31.201
33,08
34.92
NEW ORLEANS
Price of tutures chered today
Apol
October December Munwh May
110 contract.
Sept.
30.13
Dctober
March
お
Nov.
11.05
Jan.
30 7A
Nales
They olcsod generally with
anong fenders running to a 2.
lower, Getty Ou
Mar
31;:
hddon Ca.
310
Aloy
20 an
inwer
soute Goodrich (D, F Co.
72
July
29 to
Final prieta rulert i pobyt e
7
poinļa higher The uples IT 3
the w
point or
Goodyear Tir
1314
Bapt
ZA 80
New Orleans elesed off
Sport
Heyden Chemical
1492
10. 1039
X 1070
42
Tumover feli lo shares, 370,000 behind and ightest rince Sept, 7.
140,000
Friday
intl Harvester
and Steel Co.
Homatake Mining Co. Isignwall-Rand
**
The standard
ST
HO
to 110
contract closed with points tower
4
pis
October
Evening-up
Operations
12
70%
ties of 13 contracts,
October
May
312
July
International Nickel
103 by
October
SUOTING
fik
spcculatin f. I
without d Tasure the
Lak
bol Ila $118 Gay hurg 1 it at Whether to
4d12
F
a luote
ht Tan gabi an
He says it will stay it will say if he can halt wegne bay my top hun Fial
PANDOR
mean at Mr The Govern
Wheel
13
14
DIG
DOCKS, ETC
2 waart
122
K
PHOCA Prov
1000 41
LAND, EN ilk Land
L
M
(0) 13 90 14 16
14 15 50 100 13.50
1000 ba'
450
gett Meyer Tob Co
International Paper 1941 Tol & Tel Juhr-Manville Co. Kim C. Power & LANTE Kemecati Copper
1167
Ver
Decembe
A1
inove!
MINT
Meh
0172
May
107
July
134
Sept
'
terminal
00
20
The Treasury's fim deiala E thear
Abares
MK Bank
sakavaat Cha
Lodward
ادرية
301%
34: 1%
20.40
2020
26.70
Ixzxbཐཱ*y Marel
22.05
33,90
53,00
31.95
33.60
37.89
33.00
13.1
A In traciltig | penture. · Today was Best noties but no tendera appeared.
Leading spm interests
10,000 upwards
DIS Oetobar In to the ring, supply-
a demand from source, which sold the March-May de- Intra-valor switch operationsverias, supposedly 20% made up mest of the activity on hedge positions
to transfer forward. where market
October covering was further. prices worked lower in corony led with news of another drop
LIVERPOOL
Future closings, in pence për
fl. were as follows:
Is An Am budget there van
bly the seriousness of the situation tha! les medially abend
TAR BY N Eastho etavern is the Surz Canal CrISIN, pubiculalay the Turgot that the short route to am! trin Bidete's Important kets
of supply in the Far East and Australin
crestating
The
i et
'
Rice expensive huul wound Le Cape of Golf 170
Idle To Pretend
It would be elle la pretend that this wasted on be a sevent
Bestatt GCOM RTC setback !་
But a good deal of thinking u bren done about 15 STIC Colonel Nusser stire The Camut and the consequences of elaar would not be as disastrou was first assumed What cann. ! be denied thoug
THAN ।।
1
must play bir beading a dla
a mint against the work- woon.pp that the trade and Ale bel me that
Inkeri
Ta de.
פור
Jevves mess
unfreeway spending
berate alter erente manj, nymont raf
cool w-ge migrat
-
dernte Ut has ever tex. Tar ught of labra 1 FIND
:1 '
M
- י י 137 *
Humphrey.
taa ty
RUBBER Arus
1130 240 24 11 IN
ま
Many
The market has been able t manage only two gains In
on the werk both Friday session with the feeling prevalent #ut the trend re- flects a lack of demand rather than any selling urgency. Barring
ny mens influcece, Catalysis Meaalt Iron Corp unijeipate similar activity unt!! | Minnesota Mining after the elections.
2.03 in their average, Falls 1.70 and utilities 0.31. Of a total
10047 22.2011.140 issues traded today. it
weten bewor, 270 higher.
2000 23.10
1473
1000
135
LITIES
Trans Sta Fert
Youmati Lage
2300 23 10
4000 -
22.00
IZA
110
Electric Mano E
14
311 tur
ake from da
1024
“ን
500 v 25
104 23
anned CLLY, THEY
INI 23 (0) 24 20
120 - 24
Av
In his reply the TLX Macmillan and the re
Wir Walled JAGUTUANTE PAY
alice that this weid
Mi Chels
Cement
500 m
$300 a 371,
11
A
Fully
STCHES
ETC
ev
volve
Di
W
In
1.
21
L
1
Lam
20+)
COPTONS
Tants
423
720
4453
Nanyang
MISÜVLLANEOUS
V tru
INVESTMENTS
Alld
не что
300 10 20 300 30
3000 » 13 De
500 A 1300
1000 14
Exchange Rates
I
Dreisbøed Aircraft 1,00 Inexp. tone Star Criment Co Louville & Nashville R.
Lowenstein Be Sure
National Steel Coup
New York Centyal Olin Mathieson
O
contract
Oct/Nov.
50
DA
The
Dec/Jan.
Star/Apr
214
May, Julle
400
with the Lion market.
972
In the
certificated slock lo a
July/Aug
Tamiustital share today
full
Milton Developinent. Monsanto Cheniteul Cu Montgomery Ward
97
41
Motorola inc.
100%
|
National Casti Reg
"A
+0%
National Dairy Prost National Le
301
101
71
said,
44
were
Ous Elevators Owen-linols. Glees
301
074
Pavilię Öna & Eke
Pan American Airwat
anee here.
Paramount Pictures
301
Parke Davis Ca
40
| Penny JC. C
Feno Salt Co
دالت
Philip Morris
434,
Procter & Gamble Cu
Pittsburgh Pinte Glas
014
Publicker Industries
424.
SINGAPORE
The market sugged because of Equidation at the opening
and
this trend conllmued until noon. 330) | Prices steudied afterwards until 60 the close as trade demand deve- 720post.
There was good demand for tuwer grides Futures:
The cendnued kit in domestic w low. Colton available for with delivery toalled 3,251 b, oft fuctory buying Interest,
271 baler from
the previous connumer still operating von un
Not
lalver Up "as needed" basis disaged.ing. new market interest. ruchs contracts foley totalled 124,800
bates.
Expreted impart of the soil bank Shipment offerings
next nu programme year's prodiretion, plus expand- noderate to fule supply but that
and the continued priens too high for buyer accepting exports
horvy Spot No. 1 Ras wis
rate of producer loan offered at 32' cents a pound. unpoundings from the current
the crop remained
dominant market factors.
NEW YORK Piers of futures closed today as Howst
Now contruct
Oct/Nov
Des/Jon Mar/Ap May/June
July/Aug.
Exypilan Karriak
Nov/Dec.
34.20
24.00
20.50
225.10
28,06
29,00
10.30
SAO PAULO
Future closings, in cruzeiros
per kilo were October December
As follow!
34.00 37.00
March Mes
39.20
The average spot price was Pat available today. Sales at 13 US markets totalled 84.870 balm. -- United Press.
Gulf Improve
AIYOTKE
rail.
losses
TR
ound a polit in Bultmore & Vince
Among
jetle
Youngstown
Sheet & Tube was the heaviest lover. falling 2 points
In oils Continental lost nearly
2, Royal Dutch a point and Shell 1. Gulf, however, im- proved fractionally as directors ordered a larger stock dividend than last year addition to the usual cash payment
New York Stock Exchange bond volume was $3,580,000.
American Stock Exchange thune in the incat volung was 710,000 shares
Dow-Jono
Bu
SAN
Markel thens CAUTATIE imeyttedal at the followinst vates
SLE Sterling noter (ver 2) Aardenburg notes open A indem man upah sper 1031 Stief (per 100; Singapore
#15
WOTO:
12.02
18.30
30 industrimin
27 20
20 Talle
13
15 unlifies
stucks
losing
Pure Oil
Itadio Corporation Republie Steel Reynolds Metal Shall Of Co
Saint Teg. Paper Sinclair Of
Soenny Mobil South Puerta en Suger Southern National Gas Bouthern Raliway Standarų Umance Standard Oil of Cut Standard Oil of Ind. Standard Où of NJ Sleep Rock
control of labo"
Appeal To Reason
13
One cannot top teni 1 Mi walt Rel nowhere
wikd be a costly affair and ds Macmilla the result would be etlut..mary ! WHE
a the very time that
the
A ut argument, Brition Even his append to reason
on
en act afford any more indat grounds that wages have stayed
Be Goveit Meanwhile
d
are awaiting event.
whether
1.1
Eber
well ahead of pisces will win
Labe
CANTI
before des Now
nvivement any mestres, budgetary otherwise, needed to deal with this situa- ten. In the extreme pris.bility of the use of neined fivet some recasting of
budgetary policy would cratonly be needed But the far salderk
und tasuing militan y recent preenu'ns
considered
ww
likely to put the budgetary calculations to the extent that it would retine a completely ne exerrae this autumn
Wage Crisis
the current to the serv, d of
Bil- Patges for emrers about tal's veomande pe sit.on--f1aint- ly the mountag wage crisis-- the Government are similarly un- able to falce précise mensures
until a clearer picture emerges of the extent and the nature of the difficulties that will have tr be faced.
the
What is needed. clear proof tart everyone, government, management and labour are in the fight together, all struggling Phe same thing-an end
1.
1.1
out in L netExpres San ·
London Stocks
Virtually Unchanged
Singapore Stock Market|
Singapore, Sept. 25
Brokers today quoted the fod
I wing stock privest
London, Sept. 24. Stocks held virtually un- changed
& Neuve Lid 11 for except
pret advance by oil Hongkong & Shanghai Bank-
ing Corp
In some ways this is an even | spotty more serious threat than
theaharas in quiet dealings Hongkong Tin Lio
Exchange Kempas Ltd.
The the
London
the today.
Suez affair If only becDUSE has involved the end of valued Trudition - that
Union Trades
Congress
matters it all operates nationul importance with the government of the day
re-
The background to the wages situation is so well known that that i needa only brief capitulation. Incumes in Britain of which wages form by for the biggest allee have been ris- ing over
past few years much more rapidly than output
The
13 Ma
Traders cautious following
generaily Peteling T Lad.
Raßen Hotel the transfer
Singapore Cold Storage of the Suez Catial problem tu | South British Insura the United Nallone,
40 bunds
Comm. future prive intes
Cunny
pot rublier unbeled
4640-9160
P.OBIE.A
COMPANIES
491
DOM
2:1
Com. I
No i rubber per iti. Oct. BD%-80% Nov. 89% -4074 Dee, unquoted
+
41
No. 2 nubber per lb Oct. 16-391;
Nu. 5
4813
No. 4
8344-857%
50%
542%
Blanket crepe
72-74
20
No 1
pole crepe
118.320
Sterfion Drug Co
A3'
Stokely-Van Camp,
19
LONDON
Studebaker-Packard Corp.
de
Swifi & C
averages
Texas Co.
B014
The market
Tire Water Awwa.' Dit
57
Twenty Century Fox Film Union Carbide
2415 per lb. Prices
11415
No. 1. Ræ apot
211-273
7031
Bettioment noume terni
47
Octuber
27-279%
November
27-271
20*5
December
ATIL
Oct/Dec.
209-201 27-27
DELWATOI
43
Jan/Mar
2011-2014
"CARTHAGE”
6614 | Apr/June
2341-2071
"CHUSAN”
442
September
2014-20
31
October
4331
November
2014-2014 20-201
United Press.
Estate Prepe Cel
61.09
487,10 | Unlum -Pacific Railway 157.33 | United Aircraft
1.8. Full "D",
172.11 | 11.8. Gypsum
US Line Co
1.8 Rubber
UA. Smelting
18. Steel
Warner Bros.
Westinghouse Electric
Werl Vn. Pulp & Paper
Woolworth
02 11
160.97
apol plier indux, Moody's index.
104.29
475 70
Closing Prices
Alden ind May Allied Chemicals Allied Male Inc.
Ain. Sugar Ref. American Tol. & Tel.
Amerkan Tob. "B"
Anaconda Copper
100
SELA quiet with spot quoted at 27-5/10 perce
202/ Donemi markets, vit basis, parta:
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
"CANTON"
Leaves Lozden Que Rangkong
2011 September
10th October
Via Southampton, Colombo, Pesant a florapore.
Leaver Hongkong
"CARTHAGE" 29th October
New York Sugar
Market
New York, Sept. 24.
futures World No. 4 Aupar closed today unchanged to three! point higher with sales of Øve contracts.
No.
demostle The
0 stigar futures closed unchanged to one point higher with sales of 50 contracts,
Fetale (reur thick
AMSTERDAM
The market was quiet. Prices elosed today in guilders per kilogram. elf October as follows;
No. 1 rubber
No
rubber No, rubber No. 1 crepe
2.67 IngerA
254 buyers 260 buyers 3.40 buyers
United Press.
London Foreign Exchange
London, Sept. 24.
Closing roles were: markala
news
both Traders in
New York marked time pending
Montreal from the raw market and de- Amsterdam
the velopments In
threatened Brumela..
1
All Chaliners
Aunarican Airline
220.
American Cable & Hadi Corp
American Cynnamide Cu
Open E
Amer. & Foreign. Power
14%
Betplanung Rubber Co Ltd British
Petroleurn Home
$ da
Am. Mach. & dry
331
+
American Metal
30
Syndicato Consolidated Tin
30/043
American Smolling
511
Staplers
014
Ord
27/ki
171
Framt
Freser & Neave Ld. Ord,
$2.07.
1996
61
"
CUTE
$5.00
Arnico Steel
0412
Annour
$003
Atlas Com Mining
1
0/kl
Endwin-Lima-Hani
139
81.83
Baltimore & Ohi
Lunas Rubber Estates Ltd. Malayna Brewerks New Serandah Hubber Co, Ltd.
1) BA
Dndix Aviation Corp.
$3,00
Henguet Cons.
13
8) 70
Bethlehem Steet
16316
$327
Beeing Airplase
AZE
$2.45
Borden (The) Co.
B01
$141
Barough Adf Machine
C
Canedilen Puritic H.
$33 10
Caso 13. L. Co.
323 73
Cat. Trector,
$14,50
Ceinness Corp.
$1.35
C. I. T. Financial Corp.
$3.00
Chrysler Motors
1410
Cundly,China Mall Specia).
Climax Molybdenum
71
Contract No. 4 (world)
Orio
Colgate-Palmolive Co.
fanie
54%
Commercial Credit
410
Gel.
3.20m
Stockholm
LunUnwealth Mee.
4GAL
Mar.
3.54
Consolidated Edison
452%
May
3.37
Continental Oil of Del.
113
July
3.59
Press
Crane Co...
3315
Sept.
3,37
Crown Zellerbach
8414
Spot-(cents per
fol
Cuban Amer. Sugar
Cuba)
3.
Contract No. G
1001%
Nov.
£30
Mar.
0.42
201
May
4,42
231
July
4.12
Sept.
5.53
0812
Nov.
5.55
47
Spot-tcents per ib. cit NY
ex-duty)
3.52
United Press.
Canada Argentina Other Prem
were
Lid.
Straits Trading
Advances in on shares Fan Strails Stevmahip
United Engineers Ora, stund wo shiftings in Burmah, Warne Bros. beltuk Perroleum, and Anglo- Egyption "B". Royal Dulch closed unchanged.
result that Briúsh INDUSTRIALS SLOW
NEW YORK SILK FUTURES
Diamond Alkali
Dow Cheers) colo
un-Dupont de Nemoure
New York, Sept. 24. Silk futures today closed changed with no sales reported.
Closing prices were:
with the prices and costa have risen
industrials faster than those of
moved narrowly, i her chief
changes held to a few) competitors. Unless this silun with
either way. Shipping tion
corrected there is a real police danger that Britain will, in the shares found support at times, well worn phrase, "price herself and Hawker Siddeley was a
spot in the aircrafts.
Oct. out of the world markets."
Nov. As the Government
British
Dee. Governments turned what chiefly ncoded
Jan Cosicr after a firm stari, but realisation
Mar. decline
in at the close were
May mali Irations. "Daltons" went the other way, adding £% on the day.
frade
11
is the on the part of the that union movement further general wage increaKen oro
unjustified not only
but would be highly dangerous, Hence its much publicised appeal for "Wage restraint."
Antagonised
Many people outside
Losses of about £1 enme in Japanese bonds bill German Ibons were
steady in
forage band section.
Gold the
Government felt that this ap- posted
and
copper
a quiet
shares
on
smoll advances
peal would be useless but no selective. buying-United Press,
one anticipated would do
actual harm. Yet this is just
what it has done for it
entagonised trade
bers
$0
union mam-
that the TUC rejected the
appeal overwhelmingly,
Mr Harold Macmillan, Chan-
CHICAGO LARD
FUTURES
Chicago, Sept. 24.
cellor of the Exchequer, claimed Prices of lard futures closed Inst week that it was not
serious disagreement
so much October
today is eents nor lb. as follows; 11.05-00 11.73.
‚as a good deal of misunderstand. | November ing that weparated the TỨC from December
cho Government,
January
this
mis-
bo
March
Just how
understand deep
judged from a a speech Mr Frank
Cameral
Colisins, General Secretary of the Transport Workere
13.
United Press.
NAMESAKES
at, the. Referring to Mr Macmillan's 3 Royals Calog, "recent -- forecasts", that Elvitalis | Englandi, . 7. Tomé91, geosid look forward to, a spall 9 Hunting, 10 Forde,
of sable prices. Mr Cousins wald 12 Shot-
The Chancellor of the William Rutus.
Anawcra! 1 Woods, 2 Fighting,
4.23h
4,200
4221
לוב4
4.20
4.10b
United Press.
A hundred
Fastman Kodak
El Paso National Ga
Eric Ratiroad
Family Finance Corp.
Ford Motor
General Electric
General Foods General Motors den. Pub. Ull.
years
of
Copenhagen
1 dock workers strike, Futures: Frankfurt
60
service
Zurich..
2.70 0/16-2.79 7/10 2.72-2,723
10.03-10.0314
139.4235-130,4711⁄2 10.341-19.34
11.71-11.7 1746-1707
10.30-19.00
08314-00315 14.43-14.432; 12.23%-13.21
Others were unchanged-United
New York Foreign
Exchange
Closing rates were;
Now York. Sept. 24.
1,02 11/32 .0352 unchanged.Ünited
850 956
1856
PASSENGER
AND FREIGHT SERVICES ON WORLD TRADE ROUTES
B-I BRITISH INDIA
Steam Navigation Co.Ltd.
Agents:
KENZIE & CO OF HONG KONG LTD
PO Box 113 Tel, 27721-4
Потенци
“CHUSAN"
"CANTON"
Balled
5th October
3rd November
12th November
Que London
1
7th November
18th November
TO BE ANNOUNCET) LATER
VIR Singapore, Penang & Colombe.
FREIGHT SERVICE
"SINGAPORE”duo 1st Oel
"BOMALI" dyn 20th Ont.
from UK.
from U.K.
"SINGAPORE"loads 23rd Oct. for Singapore, P. Awet-
"SULAT" die 10th Nov
tenham, Havre, London, Hamburg. Rotterdam, Antwerp 弘 Grange- moth
from UC.
ALL VESSELS OUTWARDS AND HOMEWARDS HAVE LIBERTY To PROCEED VIA AUFZ CANAL, CAPE of QOOD HOPE OR PANAMA CANAL AT OWNERS OPTION.
BRITISH INDIA S.N. CO., LTD.
1830 — A HUNDRED YEARя of SERVICE --- 1956
from Calcutta "BANGOLA” day 30th Sept.
Balls Int Oct. 10. Зарад
*INCHSTAFFA"due 8th Oct.,
alle
ath Oakfor Singapore. Penang,
Rangoon & Calouste
*
"WARORA” doe Bib Oct. ni 10th Oct.
for Singapore Pen Rangoon, Chittagong Calcutt
P. & 0./B. I. JOINT SERVICE "URLANA”
"ITAURA"
dus 29th Sept. tist Oct.
due
4th Oct. Atla 4th Oct.
"ITOLA"
dos lá Oct. kalla 2017. Oct.
from Japan
for Bingapore, Bombay, Esharinagar,
Karach Esara, Khorramatistır de Kuwalt
from Japón for Bingapore, Coolsins. Karachi, Basrali, Khor" romuhabir de Kuvrait - ji from Karnehl Cochin for Japan
EASTERN & AUSTRALIAN. S,S,.CO., LTD. "ARAFURA” lotda sih Oct.
salle 9th Oct.
"NELLORE" due. 11th Oct..
far... Bendakan Rabad, Belibang, Bydney, Mili bourne'& Adelaide
from Australia.
Ali veisels, have liberty, to call' at. any; porta on or off the squie & the route à sailing sro"stíbject to change or amendment) with or without motion
For full particulars apply to: MACKINNON, MACKENZIE & GA OF HONG KONG LIH. Telephone Hot: 277914.