THE CHINA MAIL, WEDNESDAY, SEPTEMBER 26, 1956.
TRADE and COMMERCE
Suez Blockade Would Cost UK
London Stocks Narrowly Mixed
London, Sopt. 25.
The stock exchange closed narrowly mixed in dull dealings today on un- ! certainty over the
Canal situation and
Suez
din-
appointing overnight action
in Wall Street,
Governavn
band port cough invertime
Lonel
00-
Fortune
Dollar
CHINA SELLS
STERLING BALANCES
By SYDNEY 5. GAMPELL
London, Sept. 25. Just what a blockade of the Suez Canal would cost Britain, the rest of Europe and Egypt is anybody's guess. But one thing is certain that the bill would be earrings Amit added up in dollars and cents and not in Alamosa, Caleve. Beras and pounds.
rosas to fill Old Consols
War Lnts by £4.
ta
to the industri 1 a jewe lected SOL
avourites,
responde IN WES
motably
Bowater, shed actions.
Belash
This combatel in welvoner 00
improved dividend prospecta
+
Oils open Flower, but pho¦ CHICAGO GRAIN
11.
#nail
stake Custment. 1 bay ng By the
tip toward
vida mot
vaches long.
1.
bem pared
Formga bende
WIT
falle
Dottur state recorded be uns am out of adjustment to me. night New York musket jetla,
Umic Press
Shell Associate To Build New Plant
Lotion, Sept Zá A new £1,750,000 plant the induction of styrene proj
ነ ▌ " as to be huil by Petro Chemicals Limated-an assorte
C the Shell Chemical Cam- puny
<
The plant wil be 4k Parting- In the Manchester Ship Kumk Bl
to be is expected pduring by 1958.
part of the
A consklerable 1land's output will go to Styreru
Prachtrol s Lirated
MARKET
fe
Just as when Iron nationalised Brifist-evente-lled Abadan 195 the question
SARGERS
25411 41011 +14+5
ו'י
ama problem 4 question tor odd is the main pro- muet Eurype ships through the Canal and val IN what Britain nd Europe will have by for with dediat stwould they de then du da amput en ont trem the Bure of Trace Pn.ted States and Venezuela m
stend at the and neid, <t te Middle Pist
Cineage Sept 23 Jahres were
mucks afely.
wheat
1 Comed tagnets
1
David HAIRSTY Try weather over large arvus of winter wheat the southwesterni beh, with must deliveries Trading
at new highs for the season
moved laher dutie Soybeati Laufey's pesalon on stort-covering wal higher poes for Novična ol foluits.
Wheat plegarek viza banget to of le cent, soybeans up 1ły to 2
Pure VITITIAN
Wheat. No. 2, red
Sput
WW
214)
2774
15174-** 154-**
In this epse
74
ww
brutt
HONGKONG STOCK
China Unlikely EXCHANGE To Pay More
For Rubber
(From Our Correspondent)
Business done on the Hong- kong Block Exchange This morning amounted to approxi motely $338,000. Noon quotations. and the morning's transactions:
Ungers Belleta
Abares
HANKS
an
Colombo, Sept. 25. Prospects that China | might pay
more for ils K Bank rubber purchases from INSURANCES Ceylon were described dim by Sir Claude Corea, Lombor leader of the recent
Cey- SIPPING lonese delegation to China, Wercks
Claude conferred with chinese cats on the existing
Sir
rubber for rice rreement be tween the two countries.
He said the entry of lower- priced rubber from Malaya unt Indonisin in the Chinese market
Ceylons DRESSILE
rubber inde ~ Ceylon, adjust
14: prices.
DOCKS, ETC
__ Whinef Dock Proxident
LAND, ETC HK H
IK Land
press
Really HUDDER Amala
Chinese delegation is ex- A preted in Ceylon sometime m
November for further talks on UTILITIES
Sir Claude re- Tram the trade puct. perted that China was building | Vatemati
network
Tyre which would noed large quantii-
rubber-Unded Press
»f them long-range. stand ut Britain
JO up to her ears dollar defit is the rest of this Century
יו ליירות
The loss of her would cost the Middle Past $1,000 million a year. man gue
1. the name-du- wenthe Middle Fast
Win Hands Down
no
Boat shound vent down in a battle of dollars. and vents between Britain and Egypt, Bri- -fan would win hands down Far me thing Brian's dollar 10- serves can hold out much lig er than
Egypt's--and presum- ably
while
New York Sugar Market
New York, Sept 25. World No.
futures +1 sugas closed today 1 post higher tal 3 points: lower with sales of two contracts,
Tel INI
INDUSTRIALS
1030
sajes
1010
15
3044 1610 10%2
47
รถ
# 20
3000 ZUA...
P30
$12 241,
300 M
TEK
35 30 14 20
900 15.50
300
15 40
23 * ואאה
SECTION
AUSTRALIAN-
WOOL UP
Canberra, Sept. 25. Japan was the largest overseas purchaser of Australian wool during July and August, it Wils disclosed today.
rooked
27,000,000
Kecond
Japan Look 33,000,000 poutide of wool valued at AL 11,000,000. Britain Wiln pounde worth
Australia shipped a total 118,000,000 pounds AL A £35,000,000,
A £8,000,000,
of
valued
A £5,000,000 more than the total for the same period last year.United Press.
WORLD
RUBBER MARKETS
New York, Sex. 25. Ta No. Res rubber future
act to day closed unchanged to 5 ports lower with -al-" et 45 centin."
Cheng prices
pants highres 1 30 peints lower
041, 451)
201
140 $475
Sp
31.03
Dec
1473
130
3000 14 35
1021
.
The pelit
C
23.00 23 86
31 25 N
vised 10 dala: to 20 potul tower with ic of a lot
t
30.00
Star Ferry
130
Now
3103
110
11
Jatt
Light ( 24.00
39 20
Mr:
Ex IND
30 13
12 1
Bis
Eleng
31 31 10
420
31.50
29 90
Tel. 01
240
Ju's
20.43
23
1000
* 24 JME
Sept
21
20 80 24,00
Standard
28 10 ntact closed 10
30 71
aith le itported
Metni
STORES, ETC Dadt v
1920 19:30
1300
300 500
10
Sept
Dee
312
10.30 May
11.20
JAN
200 10.30
Watson
13 IN
14
1000 13. 3000 13.0
ALLE
Lana Chaw COTTONS
2003
4.50
13
1000 or
3000 w
7:0
4.60 2000 ** 7.33
671
4.07
Cemen Норм
Textile
Comp Domestic No. 8 sugar futures, cloved unchanged to 2 points Nanvang higher with sales of 27 contracts. INVESTMENTS
Yooglaze Ir world rows, Holland was
Allied the meritid buyer of a cargo November/ of Dominican raws, Deet miber shipment, cents pound, tob.
for I-fined shipment. Futures:
Contract No. 4 (world}
at 3.30
Bolivia,
Prices spurted
Page
Wall Street Has
Worst Break
Since Ike Was Ill
New York, Sept. 25,
A brief but sharp sell-off late today gave the stock market its worst break since President Eisenhower's illness on June 8.
The selling, climaxing 29 cry Geral Mat ›rs 0an. Pub. Dig. of stendy but dull decline, Waetty Oli seen by many In Wall Street
as un tempt to pare prices to a level attractive enough sthmuînte new demand. Closing prie generally were above the although running dy's lows mor: than 3 points lower on the AB tending day in ume cases Eroups wage !+ !+
The on Wine 29 PATIN cene pa
fot The
the *"VER twelk hi the past 14 sessions Tight merry myl politier jet the list.
Volume pletce, ap lin. in the gesien
fler early tooling 2.100,900 h, 290,000 dullness,
nhead yesterday.
Tonding in the dr al halt heair 1 to 500,00
The market, with 1,187 issues appeling on the in... was the brendes ainet Augu1 21, Of the lotul. 863 wer: lower, only 153 higher.
Closing Prices
30 10
37,09
Alve ine. Aey
30.18
Allied Chemicals
20.00
Allied Mults Inc
22100
Aftle Chucdiners
20.40
the
start
American Airbur
when the London cables filed
she would have the support prilly bought 3.000 tons of OEEC MEETING try again
the
United States. Egypt whose trade was handled mostly in sterling, has already nad to eut her imports by near- ly a third because of the control which Brain impused
Atga
Oct/Nov..
American Cable +
Corp.
American Cyanamide Co Amer. & Forgn. Power Am. Machi. &F dry American Metad American Smelting American Tel & Tel American Tab. "9" Anscenda Copper
Allur Cor Mining Baldwin-Lima-Firen Baltimore & Ohlo Bendix Aviation Corp
to fully reflect the Monday de 445 | cũng and traders remembered that the Singapore market stil! Fuded at a
of around premium [.. 1 70 ́ Is cent of toen) parity
Reports of a broatier domestle. Inetory interest added
Annota To the better
but
mid- feeling afternoon price turned reuc- when the con- demand Inlied 10 worthwhile materialize to aTY Paris, Sept. 25.
cxlient.
Dealer hedging and re- The working party of tho
sell
by carly
buyter found Organisation for European pricus vulnerable. Economic Co-operation started o two-day meeting here to study how
six-netion Custom Union planned by France, Ger- many, Haly and Benelux can associate with other OEEC mem.
Dec
Mor
A11
Juis
Corn, No. 2, yellow
Spurt De MAI
12
112
of
J
148
147
Orl
Kyc
Mar
3.33 3.34
DAN
May
334
M
cwnrd
subsidiary
wholly Petro
Mar
July
J 30
Outs
Soph
: 37
+
products.
Centers Lanted--for the po duction of polystyrene moulding powders There are used in the The hufucture of
15"་་
944.
Spot-counts
Mar
Soybeans, No. 2, yellow
201
many plantle
The simple fact is that Baige pa reeds 2.5 million barrels of eng
day.
7.23
Contract No. 6
5.69
Nov
Mus
1.44
bers.
MNA
3.47
Jul
plant
abo
tit!
19
July
4.02
N
Sept
6 55
Nov
0 43
Spuf-trenta per the NY
On-turys
5.50
-United Press
الودا
1 34.451 Internation at Synthetic Rubber Consortium will draw substan- Barley
of styrene for i Sp
bal
quantither
tire már umeture
rubber at Fawley,
Antbelte New York lour
Mick
Further quamiiles are expect.
ed to be available to industry.
In general.
200 b
2425. 245-247
246
130-14
313 40 Water Pers
WINNIPEG GRAIN PRICES
Winnipeg. Sept. 25 Pures of grain futures closel
per bushel
At present United Kingdo production of Bonomerk!
reade from today
tellows
Date
styrene-which
ethylene and benzene--is nd sufficient to meet the
zalo
and imports
dollar
Qrens,
LAL
made
demand
from Ching Mail
Qvt
Det
781,
Mas
701.
Hye
Oci
BI
1205-
1803,
Special
Exchange Rates Barley
log AVAN
supolletal exchange market
Out
Dinne
the focal
this
Det May
Thưrming at the following talen
Flaxseed
US dollar (per $1)
Oct
Storing notes per £11
15.01
••
Australlum motor rper £11 Indubertus rapist thed 2001 Santical s D Blogapore (Strate
12.00
May
18:40
272
Egyptian sterling secount
Now Last year she linported 07 million totis ad I Through the Canal and a good estimate is that the figine would ve thercased to 150 million tons by .1050 and 350 million eus by
1067
An it, she would have ime ported about $50,000 barrels of oil every day from the Western Heinisphere alune,
Earn Dollars
Here Britain would fare best For the truth is the Britain
jwould netually stand
sutte
dollars-simply
to earn
because
וחייז!
The oll she now limports The Middle East bas dar
C-3 Comment
(or probably about
30 per cent) whereas the l she would have to import from
Vene- the United States and zuella has
a sterling component 30 (although not as high as
1077, 1029 14137
315
per cent).
200 2014
prices were
Canadian wheat “ina unchangst.—Unlled Press,
US Atlantic
Coast
Dockers Threaten Strike Action
Washington, Sept. 25.
While the shipping industry waits to see if the end of labour contracts next Sunday will cause an Atlantic coast dock workers strike, the National
ויאן
ધોમધક
One of the suggestions which the working party will consider is the possibility of a vast free trade zone in Europe.--China Mail Special.
New Crop Deliveries
Lead
New York
Cotton Advance
New York, Sept. 25.
i
Butner
In the spot market, No. 1 Rss was quoted nominally 31 % ernis à pound,
SINGAPORE
There was some fairly heavy quidation at the opening but afterwards the market steadied U# Arade
and support
short covering. continued
steady throughout the afternoon with gelers mere serves.
Future closings were: No. 1 rubber per lb. Qot. 89-80%
Nov, 0-0093
No. 2 rubber per ib Oct 881-881,
No 3
No. 4
Spot rubber unhaled Blanke! crepe
No pole crepe....
The mark
C. I. T. Financial Co p
32
Radia
14
14
31%
203
3012
Goodrien ib. F. Cũ Goodyear Tyre Heyden Chemical Blomtaka Mining Co faland Steel Co,
uterchemical Corp. Int) Blushiess Machities
vestes Internaticual Nickel "International Pader
Tel & Ti John-Manville Co. Kennecol Copper dggeli Meyers Tob. Co.
Lockheed Aircraft Loewa kiwords,
Lone Star Cemjast Ca
Lille & Nashville R
Lowenstein & Sons. Mesabi Iron Corp. Minnesota Mining Monsantu Chemical Co. Montgonicry Ward Natunal Cushes. "A" Motorola be.
National Dairy Pros. National Lend National Steel Corp. New York Central
O Mathieson Otis Elevators Owen-linols Glans Pocille Cinn & Eley. Pan Amerlynn Altway Paranse unt Pictures Penny J. V. Co Jean Balco Pistlip Ma Pineler & Gamble Co Pittsburgh Plate Olavs
Publicker Puckustries Pore Di
Indio Clage cetiani Reputdie Sterl
Heynolds Metal
Hello Co.
Batas Best Paper
Binclair Qu
Bovody Mabilo
Bouth Puerto Rico Sugar Southern Național Gas Southern Railway
Standard Brunda
(Com. I
Standard Oll of Cal.
Standard Oil of Ind.
Stankind Oll of NI
Sleep Rock
Bterling Drug C
Stokely-Van Comp
17011⁄2 | Studebaket-Packaiti Corp
7515 Awift & Co.
701%
17
30%
Texas Co.
| Tide Water Anm. Ol... Twenty Century Fox Film
1 Unton Carbide.......
Untun Pactße Railway
United Aircraft
9. Foll "5"
Warner Bro
195% ) Westinghouse Electric
West Va. Pulp & Paper Woodward
Wilted Press
Bethlehem Steel
1012
Boeing Alplane
V.S. Qypris
Borde (The) Co.
58
US. Line Cu.
Burroughs Add Machine
UB. Rubber
Cenadian Pacife R
335
IF. Smeltuis
Case (2. Co
M
VS. Steel..
Cal Tractor
74
Celance Corp.
Chase Menbat. Dank
321
Chrydder Mete■
Climax Molybden
Commercial Credit
476
Commcewentia Elas
|
Comalidated Eatson Contaiental Oil et Del Crane Co
40
11.3%
Çuben Amity Sugur
Diamond Alkali
5034
70
1931,
87
Dow Chemical,
Dupunt de Neindur,
Eastman Kodak
El Paso National Ga Erie Rareat!
Dee unquoted
Family Finance Corp
neral Electric Gineral Poods
8716-68
84-03
1-80
72.74
118-120
dull with
LONDON
WBA
spot quoted at 267% pence per Ib. 1 Prices:
No. 1 R sof
203.-27
Saltlement house nèm:
Nov.
2041-201
Dee.
20-1-204
Jan./Mur
2016-2031⁄2
Ape Jun
July/Sept.
General markela, cif basis, porta
5+2
Oct. Nav.
251-2511
quata 21-201 20-204
Cotton prices today faltéred after a steady | Erture esepe thin Oct. All is not rusy, however, y start then developed fresh rallying power with
new crop deliveries taking the lead.
off Egypt's derling hutting ceounts in London Britain has Jurced China, for instance. 10
PractieBy all deliveries from May sell cut its sterling for fear of a
March forward touched similar reprisni sume day. As a
new July
ન result, the Bank of England has, seasonal highs with the general Dec had to spend dollars fairly et finishing up 4 to 25 points. Mor heavily 10 support sterling The market optied up one to 4 [Tetal against
and other points. New Orleana closed up: foreign selling,
12 to 7 points,
Chinese
1
400
in cents per ib. as follows:
If all the all that now comes Revived buying interest re- to Western Europe through theflected a trio of factors. 1. De- Suez Canal were to be diverted partment of Agriculture reports around the Cape, it would mean describing the farm price that Britain, France and
the look
as bright despite heavy surpluses; weekly cron
2. The Government summary noting
Mar, rain damage in eastern sections and in the woke of the hurricane
rest of Europe would need about 56 per cent more tanker cap city. Here the long-range costs are dificult to estimate.
For one thing, Britain
Norway are great builders
thilek AMSTERDAM
The market was quiet. Prices I closed today in guliders per
<if Insis, kilogram,
Oct.. follows:
No. 1 rubber
2.53 buyers 2,33 buyers 2.60 buyers 3.33 buyers -United PreNA.
London Foreign Exchange
18,000
250,000
16,000
128,400
0,100
8,000
3,600
42,300
No. risber
3,300
$30,000 1,575, 100 bates. NEW YORK
No. 3 rubber No. crepe
Prices of futures closed today
Spol
34.5511
Oct,
Dec.
31.99
out-
Mar.
34.07
May
24.04
July
33.76
Oct.
33.13
Dec.
34.00
33.03
NEW ORLEANS
Prices of futures closed today
33.26
33.00
3140
34.02-04
35/2
30.10
33.07
.38,077
33.01
of Flossie: 3. Expanding activity in cents per b. as follows: the In the textile market — with ex-, that the long-
ships and would gain world's already overloaded ship- yards were to turn their efforts to the construction of tankers,
Labour Relations Board here complicated the china Mali Special. issue by ordering an election by dock workers to
choose a union organisation for bargaining pur-
poses.
led
Copper Belt
The International Longshore- the New York Shipping Associa- Workers Back
بادا
Association now represents | tlon Mr Finnegan asked
that
*
pectations
walted buying movement for the fourth and first quarters may be under way.
London, Sept. 25. Closing rates were: New York Montreal
Amsterdam
Brussels
Capenbareta
Frankfurt
Stockholm
Paris
ການ
2.18-5/16-2.78-7/10 2.72-1/10-2.72-3/16 10.6935-10.0331
130,40-130/40
19.33-19.34%
11.71-11.719
/14.433|-14.443%
Zurich
Coaster 12219-12211 Other were unchanged.--United Prime.
Future closings, in penes per New York Foreign
Spot
ઘાં,
Dec.
Mar.
May
July
the market see- Evening-up narrowly. operations in the October de
provided the main in- livery
No delivery notices jb. were ng · follows: peared. Realising and bodge Old contract
bell
Dec.
Mar.
LIVERPOOL
Oct/Nov.
Dec/Jon.
Mar/Apr.
May/June
July/Aug.
Now, contract
Oct/Nov.
Dec/Jan.
Mar/Apr.
May/June
July/Aug
Egyptian menitik
Nov/Dec
men's
for the nearby monilis hindered pler workers, but it has been work continue under existing
corty rallying tendencies. Salisbury, Sept. 26. challenged by the International conditions of employment. Ile
The
Government farm price Brotherhood of Longshoremen alt n satisfactory labour con- The African daily paid labour
statement
the bulld- the Amerien Federation tract can be worked out niter forgo is now almost back to nor- of Labour Congress of Indus- the election.
mal at mines on the Northern Up In surplus stocks of cotton
bo reversed in the current. trial Organisations, The Gov The ILA contract expires on Ithodesin
copper belt, .
„* ́ ̈| marketing year, and that buyers ernment agency decreed the September 30 and the organisa-
The turnout at Roan An-
dip into alocks of may have election inust be held in the don has threatened to strike talope, the only mine where riext 30 days.
unces a new agreement is a work dustie week-was..ncerly sled domestic, and export ed there was no general return to old crop cotton to ocel the ex- by that time.
demand, National
Relations no tout thông omictals sow little hopes Chamber of Mines spokes Open October contracts today Boned The Federal Mediation Direc that the bargaining elcelion man caist at Kitwe this morning totalled 100,000 baled. “The certi. tor Mr
tormout of surface dested, stock, remained of 3,251 urged that work on the dock present pact axpires. Pat continuo while the bargaining Mr Findogan has asked for about normal and that about 201 question is being settled. an assurance that longthoroinen per cent of the underground Moth **In telegrams een; to the TLA,¦ will stay at their jobs. -- Chius | Works fored was on duty --Cidna she: AFL-CIO Brotherhood and Mail Special.
Mall Special"
Continue Work
Labour
the
Joseph F. Finners NUMATA be Delistulag, before, this workers at Roen Antelope, wasj bajes..
100,000
10,800
C. BẢO Pula
28,20 24.05
04.07
24.00
2401
23.40
25.25
29.00
21.83
Future closings, in crizelcos
per idle were pa, follows:
Oct:
30.00
Exchange
New York, Sept. 26. Closing rates were:
Canadian dollar
30-day futurer
Swiss franc spot:
30-day futurce
$1.00-31/04 1.02-29/04
28331/
Others were unchanged. Üstlied Preis.
· LONDON" SILVER PRICES
London, Sept. 25. The price of silver, was quoted today at 1301⁄2 4 penco, per fide Niñez nyerego, spot price was ounce
free land"" "forward, tor lable.
Salon at 18 paritions (sgainst 78% pence for
boles, both portions previously),
United He
NAMESAKES
Answers-1 Species, 2 Heresy,
3 Mankind. 4 Origin, 5 Glands, 133 0 England, 7 Genesis, I Develop, 2010 Apes, 10 Research, 11 Know- La ledge, 12 Biologist, 13 Victorian.
Charles Darwin.
401
NOTICE
PAR EASTERN FREIGHT CONFERENCE
FAR EAST/GULF OF ADEN AND RED SEA PORTS CONFERENCE
SURCHARGE ON BASE RATES OF FREIGHT FROM HONG KONG TARIFF AREA AND SHANGHAI AND
NORTH CHINA TARIFF AREA
At the time the Conference Lines decided to impose a 16% nett surcharge, all the information available to them indiented that with the withdrawal of over half the pilota of the Suez Canal, there would be an immediate and severe reduction in the number of transits, with consequent heavy delaya and diversion of ships. A proportion of the Lines" ships have been diverted, whilst a much larger number of ships employed in the Australian and other trades have been routed via the Cape which has had the effect of reducing the number requiring transit of the Suez Canal to a level which the existing plot servico, has so `far managed to handle without serious delay or accident. Although tho Lines are having to meet additional expenses, including Wor Risk premiums, the great majority of their vessels hava con- tinued to transit the Canal without material delay. They are, therefore, now glad to be able to announce the suspen- sion of this surcharge forthwith us from the date of Ita Introduction.
The danger naturally remains that circumstances will call for the reintroduction of the surcharge without forward notice and the Lines, therefore, wish to remind Shippers that all quotations, cargo bookinga and engagements remain subject to the rate of mercharge (if any) ruling at the mic the ship begins loading at the port of shipment con- cerned or in the case of Through Cargo from outports, at the date of the Through Bill of Lading. -
American President Lines, Ltd...
Bon Line Stenmors Ltd
Cle. Maritime des Chargeura lounís, China Mutual Steam Navigation Co., Ltd., Ellerman & Bucknall Stonmship Co., Ltd., Glen Line Ltd. (Glen & Shive Joint Service), Hamburg-Amerika Linie,
Holland-Oost-Azie Lijn,
Lloyd Triestino, S.P.A.N.,
Cle, des Messageries Maritimox,
Nippon Yusen Kalaha,
Norddeutscher Lloyd,
Oooop Steam, Ship Co., Ltd.,
Osaka Shosen Kaisha,
A/B Dot Ontaristiske Kompagni (East Asiatic Co., Ltd.), Peninsular & Oriental Steam--Navigation Confere A/B Svenska Ostaniatiska Kompaniet: (Swedish, Eant Anfa
Co., Ltd.);
Wilh Wilhelmsen,