TRADE
THE CHINA MAIL, TUESDAY, OCTOBER 9, 1956.
and
COMMERCE SECTION
Page
London Waits European Free Trade Area Would New York Cotton CHICAGO GRAIN
For Suez Benefit
Commonwealth
Developments INFLUENTIAL EMPIRE TRADERS
London, Oct. 8.
Stocks managed a steady appearance in very quiet dealings on the London Exchange today.
Traders apparently were wast. inst for new developments in the Suez Canaf stluation
Kaina,
Industriais Noor d moder withour! electrical and radio sheres generally **** C. A. Parmens
two shililogs
rep
Rolls-Royce and Blow
sufferer small leve
DIN
We le
day, heasgn Royal Daten mome acti
EXPECTED TO EXPOUND VIEWS
AT CONSERVATIVE CONFERENCE
From OUR ECONOMIC CORRESPONDENT
London, Oct. 8.
The importance the British Government attaches to the embryo scheme for a free trade area in Europe can be judged by the speed with which it put its case before the public once the basic facts became generally known.
*").<
bateralion by
how wukier
con= ; «l«jou tualed to make the ALM QEEC
and led Ta
coun-
Commonwealth Buls i bemont cerlain | tries by giving them arees to
in menity and Gnolly “workinst party, of which Britan i anaont of misunderstanding. a bleger European market and
clowed up 40 m2 150 £1
OPENED ACTIVE
Ja uinember", envisages some
out of 2481ociation between the
War of A twent held at gaits of £1%
ייני
Common Tarif
|
through Britain's association with 11 11 bigger Source of capital.
Mix European powers who are luming a much clever form of
In spite of the Government's As it was A:
feared that favourable attitude towards it, Integration British COVETEDRES
nong Alpern, kynnantsle
Britain's Wi the Thas the malves,
other | Bratam intended to enter into a lurveyer, netive intel sighals night
association
• ¥* $ 3 ፎቅ with other European with the European free trade support risked and they ofread Eurapean countries,
countries under which not omy area-assuming it ever comes mntly
The eventual formula for this, would they agree to gradually into being-is" not yet assured a-octation will not involve futtate fish chates on imports from One of the greatest objections
the JEL qouet, participation.
musikana, omol altor but also set up a
to iis eely To come from £3 Furt anunion into
Fam trade unions and manu- which the Messnin common farley for Imports from
Countries outside the usa France, Bottegrated powers
Germany.
facturers in this country Italy, Holland, Belgium and Britain this would have meant For once the free trade aren |
about to
Kete abolition of complete Lanenbourg - are
un-is established Britain will be nd form themselves, The original portal preference
com-committed to a gerdust absition reports from Washington where petion on exactly equal terms of
dut brs 01 Imports
from Commonwealth Bance with Europton contries in the
Euro-mony of which wil the
this Commonwealth markets.
provide ferée competition for home products.
Forough ex+***pl
for
1910
Coppers showed a firm trenul. Dollars stocks were marked up moderately in lux with Wall Street United Prom
MAINTAIN
Wall Street
For Yankee
conferred
Un
Neglected! Stadium
New York, Oct. 8.
Wall Street took a back seat to the Yankee Stadium today but the list held well in the face of noticeable neglect.
he
of
For
The Chantfor
The Exchequer, Mr Harold Macın!}- lan, kest no time in putting the discussion on the right lines. What
integ. he was not participation plained, in the form
for the
customs
*x-
Good Press
EXTRACTION
OF ALUMINA
New York, Oct. 8. Anaconda Co. announced
It has developed a ΠΟΥ
for proce
extracting alumina, principal mw material for aluminium, from low grade domestic and sald will si million plict
slays. built
+
plant Montana, process,
the
Futures Have Quiet Session
New York, Oct. 8.
MARKET
Chicago, Oct. B. Groin futuro prices werd steady to strong on the Board of Tinde today with ́ soybeans taking the top position.
Action in soybeans was at- tributed to higher bean oil apel meal price, along with favour- áble weather reports and smaller expectre reotipia At terminal markets. Some cont mercial house and local traders
higher
Cotton futures today fluctuated indecisively in than, quiet dealings.
At the close the list ruled 15 points lower to 1 point higher. The market opened unchanged to
moved
also was also noted. today on neal buying caused by from The
off 10 points. New Orleans closed off 6 to 7 points. continued drywerther reports
to
at Anaconda,
text
the
που
A
Was
Alumina
comes from bauxke, mineral mined to a large extent t
and Caribbean area parts of the Far East
Since three out of every four aluminium fabrication import their bauxite, the itw process would free the US from dependence on foreign soutors.
Previous efforts to une falled domestic clays had because the processeA WITO Loo costly.
new
It in expected that the Anaconda pilat pinni whu THEY completed next autumn-United Preks.
WORLD RUBBER MARKETS
New York. Det. B. The No. 1 Rss rubber futures today closed 30
lower polnis with sales of flyɑ contacts
Closing prices,
Des
The contract etmedi 20 points lower to 5 per liber with gaten ot 103 contracte,
Those who object to this will sympathy from the union but
with
Government It
Increasing com- of
petition is in any case inevi1- the which would su entail abolition of Imperial preference, able and British manufacturers
would Britain
specifically must face up to t
On the whole the scheme for exclude raw or manfuetured
participation
the forxistuffs, feeding sluffs, drink British
free trade area bus Artt Tebacen-which accounts European
had a remarkably good press bulk of her Imports from
Most newspapers have taken the the Commonwealth
its advantages for countries from the free trade view that
Com-Outweigh 4 1*ti .
that This mennes
disadvantages. But the would
debale has only just producer monwealth
begun and critics of the scheme tariff advantage
have
had hardly
to είπε in British
over their market
marshall their arguments.
Just, European competitors
how powerful these critles arul their arguments
wilt be known when the scheme is de...
Industrial stocks averaged a gain of 0.99 and have small average losses in rails and utilities were not enough to put the general market average down on the day.
Ho Alt patre
Some good guns-ranging over 2 points Huanerolas Pasties
Bore: URDY Add Machiner dealings Cantian Pacifte
ןןן
was set in the early
XE
33
1
70
13.
211 Fonaro Tað v orja
4024
but these were pared gindually Case 13 15 06
as attention turned to the Bailife! Timelin Park where the Yankees defvni-
telepese op
ed the Dodgers with the festprysler Mobas perfect gunie
history
50%
Turnover slackeneti from, 400,000 shares in the dist Inter to 170,000 in the fourth nad Gith hours 2016 total volume
1,460,000 shaies Wik 130,000 bekew Friday and smallest since August 28
"The inorkel was not a broad on". Only 1.092 issues appea- ed on the tape-Jetst vince Aug. 29-with 440 higher, 392 lows.
New Haven Lose
Chinos Molybdenara Culgate Pulpoolava tu LAZIOA Land (reddit tommenweski Plec Cenas trisciated Lcfosnay confitental Oil og Det Crane t'o
Crown Zellerbach
B Alkende
Doa Ubermeals
Dupenit de Nemours
El Pão Natioul time
Kartun Koduadas
|
Evje Rodjend
Family Finance Com
Find Moto
General Meetras
General Fonds |Qeneral Motors 13on Pub Pal
Gelly Cl (Oldden Ca the Bolstering
industrial jõvodnen (8 P, cu average were going of close to 2Qushyem The poin's in Du Pont, 1 in Good-Huyden Chenne
Hoinatak Mung Co year, around a polat in Eastman ingersoll-Rand Kodak, General Foods, Interns- Dimed Steel co tonal
Sears interchenueal rep Paper. anci
It aize Mugtatnie s Roebuck.
Jest kan vester
A loss of nearly 2 points in International Nickel New Haven weighed on the ralliational Paper average.
In utilities. Peoples as hud
A drop of nearly 2, accounting
in part for a sinalt average loss
for the group.
in Tel Tel
Inlin-Marville Co
cennecot Cunder
115
1
527
Favourable
The Commonwealth reacllan to this scheme is said to be ex- freely favourable. From their point of view it has two main :
the first place it would lead to the expansion of the European economy into a unit cumparable with the Unlled States or Soviet Russia
attractions,
La
And i
this would benest Common- wealth raw material and fooxd producers by providing them with neers to rapidly develop i Inst markets of 250 million potential customer.
econd
benent
that!
The would accrue to the Common- wwwth from Britain's partielpa- tions in Europenn free trade area concerns capital
Britain,
es Mr Macmilkań pointed
week, vannot invest
*รั
373
347
122 inent
14
1zi
its
are
improvement New York Sugar
Market
eiterl
New York, Oct. 8. World No. 4 yuger futures today cloved unchanged to 2 poinia lower with sales of four
factors
orcased
of In- Iorger
Aouthwert. Other wero prospects Exports and farmer participation in the mill bank programme.
The advance in corn was dur mainly favourable weather reports which would
to
field operations.
expedite
Wheat closed off 14 to 14 cent; soybeans up 15% to 23% cents.-- United Press.
The Government September estimate showed 1 small crop increase but the
and the expected largely discounted
After the bureau report, the
turned market
withi quiet traders awaiting the develop ment of some new incentives,
Evening-up Operations con tinued in the October delivery. The absence of delivery notices, and a further reduction in the Domestle No. 9 sugar futures ¦ NEW YORK METAL certifiented stock, crused
closed 2 points higher to 1 point early covering.
lower with sales of 121 con- But the Spot month netructs.
'Now York, Oct. 8. quidation above the 34% conti All interest centred in the Prices of motal futures closed
October line, Open
contracts November tomestic centraet jotay in vents per lb. as follows:
offset
Lewi today totalled 23.000 bale, The where trade
Or1 Nov. veriläcated sleek dvcreased 103 liquidation. bales to a new low of 3.713 bales.
some
contructs.
The Government crop estimalę į
baler 13,208,000
compared Mar
with 13,115,000 bales in the pie-May 'vious report and inst year's
buying
Contract No. 4 world)
מוד
FUTURES
14.07b
15,06b
Oct,
100.00b
Nov
08.00
Zinte
Oct
13.200
Noy
15.166
Copper Ort
35.40b
Not
36,706
United Prem.
Spotcents per the foù Cuban
Contract No. 0
3.33 225
571-7 9.47
350
0.50
5.00
5 20
NAMESAKES
Answers:-1 Novel, 2 Meurs, 3 Sisters, 4 Eli, Yorkshire, Dell, 7 Wuthering, 8 Charlotte, Parsonage, 10 Howarth, 11 HeatheLUT. 1.70 -United Pres
of Spot-teents per the wit ́Y
ruction of 14.721,000 les prox
Gains
in crop prospects resulted from "exceptionally
yields in central statesNov desplie heavy shedding of young
Mar. fruit in late August And near May record yields on Irrigated lands July Sept in the far west and northwest Nov. Texas, the Department Agriculture explained.
Atlanta
trude reports noted no increased mill demand for apoi colton in all positions int The past week following Increas- rely at ysis and goods. Demand for low grade continued Memphis reported excellent. JUBAH mili Inquiries, al..
Males were in limited
Volume Open interess
2,700
20.800 417.400
·
Nov
37 15
JUNGL
32.10-11
though
Mar
volume
May
31.40
July
30.05
Monit
Styl
30.35
October
23,000
December
30,400 46,300
Nov
29.03
Standard contract closed 30 points lower to 3 points hither with sales of 18 contracts.
March
May
23.100 265,400
July October
6.700 2,700
139.800
139,600
Dec
Decetuber
4.400
93,200
Mar
3140
March
000
0.000
Max
31 0
Tutash
100,300
1,480,000 baler
July
10.BA
Sept.
30.33
Nov
29.25
32.00
Dealer switching of Jun./May
bated by the Conservative rex contracts featured a Party at its anual conference | trade on the terminal market.
this week at Llandudno and later by Parliament,
London Express Service).
HONGKONG
STOCK
EXCHANGE
(From Our 'Correspondent)
Pending new
NEW YORK
Prices of futures closed today
quist
us follows
Spot
Ort
Dre
Star
Nu v
fuctory intETESI In the spot market some dealers turned part of their attention to the world series baseball game, Wat quoter! Spot No. 1 Ras nominally 32 conta
pound. Shipment offerings from thei For East were reported fri moderate volume but at prices too high for local receptance.
Durg
Mat
NEW ORLEANS
as follows:
Npot
SINGAPORE
Oct
Des
Mar
The market was quiet with no,
The opening particular feature,
MAN
July
pt.
tar
words TOON.
Future closings
Mar
were:
No 1 rubber per ih
Oct
02-02*.
Dec
unquoted
No 2 rusher per ib No. 1
Oe!
13
was stendy but prices kagged in-
oul
Business done on the Hong- de-kong Stock Exchange this morn. Jent If it to to play its fulling amounted to approximately No. part in fronting the develop $670,000. Noon quotations and Spot ruliber unbied
the of
Commonwealth the morning's transactica: colonies it must in- And the ertase ity tracie for that way
Hes her only hope of ever earn- ing a sufficiently large surplus Bank
Advantages
Shares
DANKS INSURANCES Union Lombard SHIPPING Waterboat Wheclock
Britain, DOCKS, ETC. herself and her other pariners Duck
the
Commonwealth. Why
On the surface, therefore, the scheme seems to have distinct advantages
both
K. What
it in the Brilish Provident Parlament and press?
For one thing the scheme LAND, ETC.
KON
LIVERPOOL
34.40n
34.24
34.09
34.53
34.18-20
33.25
33,25
23
33 16
33,40
REZER88
980928689
021-24 Future closings, in pence per
914-013.
01-DO 071-602%
1b. wero s tollows:
072-0314
34-76 110-117
Old contract Oct/Nov
Dee./Jan.
Mar/Apr
May/June
July/Aug
Dec/Jan.
Mar/Apr.
May/June
July/Aug
ex-duty >
Emily Bronte
P2O B·I│E&A
COMPANIES
PENINSULAR & ORIENTAL S,N. CO.
PASSENGER/FREIGHT SERVICE
Lesvos LoTR CA
睁
Outwards
"CARTHAGE"
"CHUBAN”
"CANTON"
"CHUSAN" "CANTON" **CORFU"
"SOMALI":
24.87 24.07
"SURAT"
"SUBAT"
24.50 60,00
The market was quietly steady with spoi quoted at 27 pence, No. Ras spot at 26% pence per lb.
Пля кров Settlement house teen:
Now tract Oct/Nov
Exyplian Karnek Nov/Dec.
SAO PAULO
Future closings, In cruzeiros
cents.
Blanket repe No palo crepe
Bayern Reflers Sales
LONDON
A
451
to enable her to export enplita).
10:30
1000 42
1101
IJRgett Movers Tub
ใน
31%
45 13316 ti-la
No 1
201-271%
per klke were as follows:
10)
2,00 096 200
300 23.70 8.95 800 7 дра 21000 8.80
Oct
Nov Dec.
241L1-271
Der
21-271
Mar
Lockheed Alterat Loews Incorp
491
Jan/Mar
27-2712
May
1934
for
Apr./June
2016-201
July
03
05
Lone Star Comment Cu Lowville & Nashville It
July/Sept.
441%
44%
171
chief
Lowenstein & Pont.
in then
there a hard core of
Meraht Iron Corp
439
Minnesota Mining
od opposition
123 0 445 1000th
10
General markete, cii basis, ports:
Oct Nov Dec.
Minion Development.
13.00 14
437
10.00
Estate crepe thin Oct.
33
Munsanto 'hement Co
1
Montgomery Ward
Motorola In
101
closer economic co-
131 Hotel
15.00 10.80
200 # 30.00
JK Land
04
19
operation
with Europe
100041
than ty
145
1.00
I
ever before,
And this very
HUDDER
BU
Amalg Trust
1,475
1,00
1.50
a04
841
43
195
1712
Empire economie unton,
63 step away from the principle of
view that any step means a
This group takes the
From
23,70 29.80 2300
No,
rubber
Star Ferry Younati
300 412 100 33:00
112
No. 3 rubber
No. 1 crepe
32 324
alts
441
844
New Penn. Salt Co
20
Php Morris
#146
Procter & Gamble Co
4046
Publickor Inoustesen
483.30 Pure Oil
B Commonwealth free Aren,
National C eg "A" National Dairy Prod
音
31,00
30.30
40.13
39.49
29.00
135,027
*
*
Beled
Due Kangkung 21th October
4th November
11th November
10th December
30th
Colombo.
Hamburg.
Antwerp
Harbring, Antwerp mouth.
&
were:
30 industriale
20 rails
B Quiltles
63 plocka
40 bonus
Comm, future price index
Comum, put price index
Moody Indek
Closing Prices
Aldon Inc. Acy, Allled Chemicals Allled Mills Inc. All Chahners American Airline American Cable
Corp.
Radio
American Cyanamide Co. Ames, & Forgn, Power Am. Mach. • Fday American Metal American Smelting American Tel & Toi American Tob."3" Anagoruin. Copper. Ameo Steel ... Annour
Alan Conn, Mining Makawin-kamu-Hamiz
Ballimore & Ohio, 21. Beauet Comm
VENILE JAYINŝion, Corp, par
150.70 tadio Corporation
98.44 Republle Steel
171.17 Reynolds Metol
REA Shell D
160.14 Balm Ref.
163.00 Sinclair Ol
419.40
#15
ע
产品
Paner
Socony Mobiloli
Southern National Gra
Bouthern Raliway (Com.)
Bleep Rock (Toranforx.)
Blandard Brands
Standard Oil at Cal.
Blandard Oil of
24 24,30 IN
trade Cement
**** 39
10) 20 28.20 300 5.20 200 176.20
100 20 30 600 6 38.10
180 F 30
Rope STONES, ETC Dairy "XD 15.70 18.00 Watson
14.10 14.40
416
700 10,00
7,50 7.60 2000
256
100
714
J
10.00
В
8216
B21
as
43
Tholiday mean
lined by Mr Macmillan directly harms the principle of imperial unauoted preference,
Texto
anyard
Vibro
but this does not MISCELLANEOUS
that the fears are un- INVESTMENTS 3 founded. It will take a tong | Yonglese
free Ailled 47% time for the European
67 trade BANK 10 become fully
wenli countries might And
Standard O of NJ.
Sterling Drug Co.
5114
Blakely-Van Camp.
19
Blikteboker-Packard Corp.
effective and in that time many things could happen. For example, soma of the Common-
Bwift & Co.
44.
Toxas Co.
B0%
Tide Water Asin. Oil
35
Twenty Century Fox Film
63
2014 Union Carbide
Union Pacte Railway
S
112
24
30%
7
1083 United Aircraft
1414 0.8. Foil
2016 1.3. Пуржат
Un. Rubbor
17 R. Smejting
2001 UE. Bios!
154 Warner Bros. 20
591) Waringhoum, Electrio
By West VA. Pulp & Paper ****
Woolworth
with the development of their
trade with European countries
thick....
AMSTERDAM
Prices of futures closed today!
2016-201 In the US the average price Fel ent-inch middling cotton at 20-27 2014-203.16 designated maritdis was 33.23 20-201
totailed Sales bales.United Press.
The market was quiet, Prices closed today in
kilogram, eff Oct. as follows:
No. 2 rubber
2,04 buyers
2,02 buyer
2,66 buyers 3.40 nom. United Press.
Singapore
Stock Market
Singapore, Oct. 9. Brokers today quoted the following stock prices!
Opening |Batu Lintahɛ Rubber Co. Ltd. "$1.67′′
Dorneo
Petroleum Syndicate.......... 55/01
Hmellers
Entah
Consolidated
27/4
| Fraser &; Neave Utd. Ord. 17.21
Fraser de Nosva Lid. 7}%
$4,30 pref.....
LONDON METALs (Malaya) Limited $1.68
PRICES
London, Oct. 8.
It would be to their advantage in feeling per long ton as to lower their
duties against
London Foreign
Exchange
London, Oct. 8.
Closing rates wete:
New York
Montreal
Brussels Frankfurt
Lisbon
Milan Stockholm
Zurich
2.70-9/10-2.78-11/10
2.71-8/16-3.73-11/10
10.0276-20.031 133.40-130.45 11.704-11.31
80.05 0.15 1750-17013 14.44 14.4531 13.231-13.132.
United Press.
Others were unchanged
New York Foreign
Exchange
New York, Det/ 8. Closing rates were: England-official
Canada
ཐ*
unofficial 30-day futures.. 90-day futures
1,02-10/22
2.78-19/32
2.77-29/33
3,18-29/32
2.00-23.00
377-0/30 3.78-13/14 United Press.
Exchange Rates
|Hongkong di Ginghai Bank-
Ing. Dorp
Australis
New Zealand
#000
South Africa
Itongkong Tin Ltd. Kampas Ltd. -
5/De
$1.85
punas Rubber Estales Ltd.
0.85
Prices of metals closed today
Malayan Breweries
EET
43.07.
New Berandah Rubber
$1.20
T
Bingapore Cold Storage, Bouth Brition Inaurence
$1.43
Stralis Traciind
United Engineers
is imports from Europe, Onca follows:
this happened it would not be tin spot Long before imperial preference 3-mont was a dead løfter.
happen for many years, and perhaps never, at all, In the marcimo, the. Vachonne : woudd
{Copper apoi
3-month Land 181. Isati
Petaling, Tin 140.
buyers soller james Hotel org
931 Wearne Bros.
this
Husions done in the local INOMIA EXLIANCE Market morning at the following ralesjing US dollar PET GELAðal Sterling, nolas:(pen
Australian notes: (perKEIN Indonesian rupiais (dest"165)
Blan·tion"(per 100)
Singapore (Bērnita)))
"CORFU"
101 October
7th November
Vis Houthampton, Colombo, Penang à Bingapore.
Momawarda
Leaves Hongkong Dve Landos
*CARTHAGE" 1st Noventor
Noventber
Eth November 3rd DecemİDET 18th November 17th December
Jeth December 14th January
Via Singapore, Pensas &
FREIGHT SERVICE
dus 20th Oct.
from U.E.
"BINGAPORE”londe zeth Oct. for Singapore. P. Bwet-
tenham, Havre, London,
mouth
Rotterdam,
Graner
due Ath Nov. From UK. loxda 2nd Dec. for Bingapore, P. Swet- tenham Havre, London, Kotterdam, Grange-
ALL VESSELS OUTWARDS AND HOMEWARDS HAVE LIBERTY TO PROCEED VIA BUZZ CANAL, CAPE OF GOOD HOPE OR PANAMA CANAL AT OWNERS OPTION.
BRITISH INDIA S.N. CO., LTD.
1859 – A HUNDRED YEARS OF SERVICE - 1960 "INCHSTAFFA”dus 10th Oot, from Japan
*** zailu 12th Oct. for Binapore, Penang,
Rangoon & Celoutta "WARORA” due 11th Oct. fram__Japan/Shanghai
salis 12th Oct. fr Binapora, Fabang. Rangoon, Culthegoogi
"ITOLA"
saliu 22nd Oct.
trees Japan
The Singapore, Penang, Rangoon & Calcutta
P. & 0./B. I. JOINT SERVICE
“ISMAILA”
due 17th Oot. sails 19th Oct.
from Karacha! Si Costiln for Japan
from Bombay, Cochin, Colombo & Skogapore for Japan
EASTERN & AUSTRALIAN 5.5. CO., LTD.
“AKAFURA” (a Port,
- sails 9th Oct.
"NELLORE" to Port
salin 10th Oct.
for Bandalon Nabeul. Brisbane Bydney Mel- bourne de Adelaida
for Japan
201Áll, vemala kavu Uberty to ̈cati ́st any parts on ar bi the rente à the neute à sailing uro zubárei to things ar smandanoma- while¦ov (withers nation,
for full particulars apply to i MAGKINNON MACKENZIE & CO OF HONG KONG LTD
Telualone Ho..: 27721 1.
Olls were mostly lower with
Service the Citica execption, up almost a point,
Sicela moved very narrowly with Bethlehem up and US Molors also Steel unchanged. held in a narrow range, General Motors and Chrysler dipped each while Ford rope 4.
General Motors was the day's issue, followed by most active American Telophone which de cined fractionally to a new low for the year and by US Steel.
the American
ON
Sharca market stalled-310,000,
Berid volume on the York Exchange was $3,350.000.
Dow-Jones
closing
National Leuti
National Steel Corp New York Central
Olin Mathieu Otis Elevators Owen-linois Glann Pacific Gas & Elec Pan American Airways Paramount Pictures Parke Davis Cu
Penny J. C
averages Pburgh Pine Glass
18 faci condemns It in the eyes of
the influential group of Empire | UTILITIES truders,
....
They fear that the European
C. Light (0) 2400 29.30 Electric
C. Lidt (N) 24.20
free trade arca would pass the Macao E 0.20 death sentence on imperial pre- | Telephone ference which is the basis on
which they would like to build INDUSTRIALS
Not Unfounded
Nothing in the scheme out. COTTONS
guilders per
AmsterdamTA
"BANGOLA"du 21st Oct.
das 26th.Oct.
salis 20tji Oct.