THE CHINA MAIL, WEDNESDAY, OCTOBER 10, 1956.
TRADE
and
COMMERCE
Balance Of Payments Danger
Over Suez Crisis WORLD
CHICAGO GRAIN
MARKET
Chicago, Ort.
Grain futures declined on the eve Boord
Trade
Today mainly to a price drop of Kansus In- City, Belling and hedging
creased toward the end of the session and disclosed limited demand
BRITAIN'S POSITION
SHOULD NOT
BE EXAGGERATED
London, Oct. 9.
Some observers here see dangers to Britain's balance of payments from the Weather ever the southwest Suez Canal crisis.
502
श
A
The dangers should not be exag-
i.teres! was still of time
have re nons number porled overcast skies over th
Weather gerated. in Kansas. favourable for harvesting opern- tions together with elini by commercial house brekers moved. auybeans higher at mid-morning,
Exporters were awaiting word from India on offers of some 4,000,000 bushels of US offered them last night,
Wheat closed OIT 34 10 1
CAM
centre
off 1
Prices per bushel in centa
222 (Hi 2271 2274.9%
Sino-Japanese Trade Deals Partly Fail
COTTON MARKETS
New York, Oct. 9. Cotton futures today drifted irregularly lower in quiet dealings.
the
Hedge selling following recent rise and a continuation of Monday's realising movement kepi the ith the defensive test of time.
tention
Muny traders swiched at-
World to the unseball game while awaitirage development of some fresh in- roolives.
-WORLD
RUBBER MARKETS
New York, Oct. 9. The No. Rss rubber futures contruct today cloned 45 points lower with males of ten contracts.
December
32 40 The rex contract closed 45 to 05 paints lower with saire of D9 con İracta.
31.03
November January March
31.20
May
July
September
00
November
Series
December March
43 to 60 Standard contract clone di puthte lower with sales ut 21 con- inet.
3216
31 20
July
2040
September
2EXT
November
P 40
prices re-
Nearby Octobes held relative- If the C'onul werd closed.
by steady reflecting the continued would absence
notlecs. Britain's main problem
of delivery wallar problem. It would Spot mouth trading will end in
of fading the Pie's ter a questio
noon hour on October 15 dallars to pay tur hey all from
Open interest today was down Wedern hemisphere sortives and
20,400 bules. The certificated perhaps even a questing of find- ¦ Stock remained at 2,713 bales.
ng dollars Lay
ANTHER space,
ז'יווז.
1
extra
an met clerid down but slapping through it is slowed, at extra shipping proble
maintain the Cum will still be a problem, although a less egent one
Far East Problem
Cute
Paris, Oct. 9. agreements 10 between Japan had to owing
Closing prices
Wheat, No. 2, red
Spot
223H
Meet
2321-
Trade
MAY
July
2201
Yout
220
Corn, No. 2, yellow
Sput
1301
far concluded
and China partly failed
Dec
(35-
Mar
MAY
July
Dee
Mar.
1431 145%
130-150*.
market 1 } {
SECTION
UK COTTON
OUTPUT
London, Oct. 9.
The Cotton Board announe- ed in Manchester on Mon-
of day that proddetion single yarn in the Laries- shire splaning industry in the week ending Sept. 22
totalled 10,220,000 lb. com- pared with 15,520,000 lb. in THU previous week. 10,440,000 1b, in the corres- ponding week last year,
Tise mills lonį a further 20 fall-time workers but
the gained 90 part-timers Board eald-United Press,
لضع
HONGKONG
STOCK EXCHANGE
on
M Pare
BROKERS DESERT WALL STREET FOR BALL PARK
New York, Oct. 9.
Should anyone doubt the importance of base- ball in the United States, the stock market today offered convincing proof.
Closing within a slim margin 1st of the day's lowest the showed net losses of 0 to 18 point. Opening prices were up 4 to off 14 pointa, New Orleans closed up to off 14 points,
Stock traders almost to a man decerled the market place. 15e the ball park ami market volume fell off to the lightest level since Oct. 27, 1933-ly 1,220,000 shares against 1,450,000 yester day and compared with 2,400,- 000 shares last Tuesday, the day World before the
Series Rol under way.
ed
مل
The few truders who remain.
KJ Terminal market
business dehard
no rubler:
doubt -- with Irealoch
the ferdigo (From Our Correspondent) | Braves
mostly roki stock and all leading a steady markets, but showed
Most of
Business done on the tone on the recession,
Hong- groups had loaves in the day. Slock Exchange Lin the business appeared to be of kong
Industrials went down 2.06 on professional origin, traders salt. morning amounted to approxi-
Noon quota-average, rails 0.62 and uthilles New speculative Interest was mately $800,000,
There were 1,114 issues and the morning's trans-0.37. Leading spot interests were dormant, with the world series
traded, Pellons
with $32 lower, 320 higher. lers of the December delivery baseball game distracting 2017e
Shares se pheve they, 34-ced level outside attention, Possibility
of increased bedge lenings as the
Intro-dealer
taler switching was in-
BANKS harvest con dicated in the rex contract, with
HK Bank Lenetics
a climax curbed new exchanges being made between INSURANCER buying interest. Most of the des
Some 27 Lonard 27 U January and March. I was credited
short lots of March were posted au SIUPPING covering and a routine demand an exchange for physical rubber, this from domestle mills and expor~ Jing track y
assumed might have represented some liquidatie consigneem
taking in futures to rubber. cover a previously placed short hedge.
10
Plokik Of .colion averages about 80 per cent completed hi the Government the 1. 11, (wetkly cru sumantey notend
Shipment offers were reported Bat 11, tome, should ot be The harvest ranges from virtual-
ly completed
South morate but sull too high to new the exaggerated
CAM 1 34 gain loend buyer Interest, Factory Atentie and Gulf
500402
Little To Offer
The market
litle had offer in the way of competition with an exta-inning ball game
led up
in which the Dodgers
were ly a the perks. There few price changes of as much as
pint.
Bethlehem Strel Boong Airplane Borden (The) Co. Burnch Ada Machine Canadian Pacte R. Care J. 1, Co. Cal. Tractor Celaree Cotp.
C. L. T. Financial Corp. | Chrysler Motors
Climax Molybdenum
Colgate-Palmolive Co Commercial Credit Commonwealth Elco Consolidated Ralwon Continental Oll of Del. Crane Co.
Crown Zellerbach Oban Amer. Sugar Diamond Alkali Dow Chemicals Dupont de Nemours Eastman Kodak
Puso National Gas Erle Railroad Ford Motor General Electric
General Food
General Molars
Gen. Pub, Vol. Gelly Du... Gildden Co. Goodrich 1. F1 Co. Goodyear Tire
Hayden Chemical Homstake Mining Co Ingersoll-Rand
Inland Steel Co.
Int'l Business Machines Int'l Harvester International Nickel International Paper Int'l Tel & Tel John-Manville Co
Kansan C. Power & Light Kennecolt Copper Liggett Moyers Tob. Co. Lockheed Alroram Loews Incorp.
Lone Star Cement Co. Lonteville Nashville n. Lowensteins & Bons Mesabi Iron Corp. Minnesota Mining Mission Development Monsanto Chemical Co
Some of the largest were in metals where Alcon feil 24. American Smelling. Kasle: Aluminium, Reynolds Metals and | Montgomery Ward Aluminium around a point each. Motorola Inc,
Buyers Sellers Najes
1070
31040
1000 1011
Wiwejock
05
30 2000. H
16000 9.03 100 2.10
DOCKS, FT K Who neck
95
401x 401,
100 40
**viden
LAND, ET
13 MA
IIK Hotel
1954 13 10
Itumspites Hendly HUBIER Amnig
1942
J 175
1.30
Der
35
Trust
150
10,000 1.470 100 3000 19 1.825
Mor
70
UTILITIES
Nay beats, No. 2, yellow
SINGAPORE
Tran
23.00 23.80
Spot
NOY
Jan.
Mar.
270 237- 242 Y 24514-245
mem-
May
Wis
Barity,
Spot
New York flour
130-140
13.201 United Press.
of the guest Charg hour at a banquet given by in Japanese delegation, Peking, the New China News Agency reported.
A rise of another 15 per cent a freight rates would still incan
Month an overall increase of less than bet one per cent.
the Dee In many et export prices ruling before the
Star Ferry
14:
Volume
Oven interest
2,000
20.400
3300
402,000
The market opened lower and remained steady with trade support until noon
Yousif
111
300 122
C. Lant 101
20
25.20
31525.10
Amang
chemicals,
Du Pont,
some
2005 er 25.10
tell nearly
C. Light (N) 24 20 when
Mar
23,500
413,300
32.
734 | 32
a point, Cynamid more than 1.
American
Mar
31.308
775,200
selling
from the
Federation
Minceu E
rivis.
July
11,500
143,000
Tel. (0)
25.30 25 40
202 23.10
Oct
8,700
4,100
If the Canal
closed. Der Japan woul lose markets 11
Total she would although Europe, have advantages in the Far East.
were
40,000
Tel INI
2,200
7.400
400 24.20 24.10 143 500
25.30
24.10
2430
125,700
1,480,200 bales
NEW YORK
$300 +
Data
200 lb. ck
WINNIPEG GRAIN PRICES
Far The
Eastern would bew-IND
a problem freight rates Would probably "artificial obstacles" im-¦ have the rise still farlier. posed by the "so-called embargo," the President of the Chinese People's In- stitute of Foreign Affairs, Chang Shi-jo, said tonight to a visiting delegation of the Japanese Die! bers.
he believes the Chank sader
be unborgo Winnipeg, Oct. 9.
would eventually Prices of grain futures closed moved through the efforts of per bushel the peoples of the world, part Today
Japanese people tlularly the and industrialista
follows:
Barley
Ort.
In
cents
201
עד
as
Unts
Bel
Dec
Alay
July
Пус
Oct.
131 y
#337
Doc.
139
May
107
1027
2034.
ነዉ።
3124
ITD
279
Uuted 1/nat
Der
May
July
Flaxseed
Oct
Dec
May
Wheat No. 3, 159% cents: No.
5, 144% cents.
Exchange Rates
He praised the Japanese Diet members' union for its efforts in. promoting Sino-Japanese trade understanding mutual between the two countries.
CONTINUE EFFORTS
Mr Masuntike Theda, houd
*N
4 Bitin's exports,
D per rent in Tennessee, Mostly buying interest remained anall whole shipping Costs represent dry
In the delivered markel. Spot weather wur,
sunny only about Two to three perhastened opening
of boils and No. 1 Ray was quoted 32 cents, rent of export prices.
favoured pleking in Oklahoma and Texas.
Laused a sag in volume on deal- Ing. Futuris
No 1 rubber per ib. Oct. 1019-637
Nov. 01.12% Dec unqualed 901-0055 No. 2 rubber per ib. Oct. No. 3
88-9 No. 4
03-06
**
Prices of futures closed today | Spot rubber untalest
Blanket crepe No. 1 pale crepe
Britain could All the gap in Fun pe with exports she would as follows: lose in the Far East.
Cause Of Anxiety
143
14782 1.50 20,000
30 3915 2350
13.10
INDUSTRIALS Cement
Hope STORES, ETC. Dairy XU 15,70 15.30 50 4 15.30 Watson
14.10 14.30 100 1420
01-0171
74-70
117-119
..
COTTONS
Textile
LONDON
The market
4.38 4.44
was steady with
spot quoted at 20 11/10 pence per
COTO
Nanyang
INVESTMENTS Yangi20 Ailled
7.00 7:30
5
i
Spot
J4.40
34.18
Dec
33.99
Mar
34 13
May
has So far, too, there been a suflicient rise in com- a result of the imodity prices as
crisis in cause matteh anxiety Iabout the balance of payments, a
not i
Juty
33 08
լէ:,
Prices:
Ort.
No. Has opot
2016-202%
Dec.
33 00
Bettlement house term:
Mor
2.05
Nuv
2011-201
Der
2012-201
NEW ORLEANS
Jan/Mar Apt /June
2034-2011
Oct Nov
33.40
Dec
Estute crepe this Oct
Britain's balance of payments
Prices of futures closed today July/Sept
of the Japanese delegation, saldjs very much the "child" of the us follows:
The delegaLER WETT willing to world commodity markets. Sharp continue their effort:: to secure frises in her import bill Bre
an invitation for representatives major cause of anxiety to her. of the Chinese people's polit.enl riggadtdive conferènce la visit
Japan.
Spot
Cel
Before the crisis The main Iserular trend
W
Treat 201
prers, particularly In the eISC
Dry MA May July
De
MAT
He aubrudtext there were pali- ja rubber and Abres, was down-
but wards. No change in this trends treal difficulties involved,
contemplated when the nald Japan was "an independent wa
of the Ex- country with the right of self- British Chancellor
£100 million in the local determination, and by no means chequer forecast a dune unestielai exchange Iarket tuoruing at the followiw istes:
16
Busines
V.8, dollar per $1
Sterling notes per
11
Australian notes (per 1
Slam tical (per 100)
Indonesian rupiah (per 1101
Singapore (Straits)
AKBAZ3888
98548785
Gineral Markets, cil bada, porta
thick
AMSTERDAM
2014-2014
The market was quiet. Prices
Continental
Petroleum
National Cash Reg. OIL, Philips, National Dairy Prod.
National Lend Gulf and
Oll lost National Steel Corp.
close to a point each, with Gulf New York Central
selling ex-dividend.
US Steel lost nearly a point while Bethelem picked up
Olin Mileson
QUA Elevators Owra-ingle Glass Pacific Gas & Elec. Pan American Airways Paramount Pictures
Parko Davie Co
Penny JC. Co.
Penn. Salt Co
Philip Morris
fraction in the steels. Generi Procter & Gamble Co.
Motors and Ford fractions unchanged in the Motors.
lost major while Chrysler held
Turnover on American Stock Exchange was 300,000 shares
Bond volume on New York Stock Exchange was $2,530,000.
Dow Jones closing
3120
0.73
were:
30 industrials
World Cotton
Output May Decline
Washington, Oct. B.
The International Cotton Ad-
closed today in guilders par kilo.visory Committee predicted to- gram, cit Oct as follows:
33.01
LIVERPOOL
No. 1 rubber
No. 2 rubber
Fulure closings, in pence per
No. 3 rubber
No. 1 crepe
of ther Undied surplus in the balance ut pay-1b, were us follows:
ments earlier this year.
this dipendency
27.30
1.20
10.50 dimeulties could be overcome.—
France-PreEST.
Stats, 017
He nodes that the Japanese 15 po 13.73 people were confident that all
NATURAL RUBBER
BUREAU WARNING
ABOUT BUTYL
Washington, Oct. 9. Butyl as a tyre rubber competitor in the future "could not be taken lightly" by either natural or synthetic rubber producers, the Natural Rubber Bureau warned over the weekend.
Forecast
The United Nations Food and Lore- Agriculture Organisation est before the Suez crisis that trend in these the downward prices would continue this year and possibly into next year.
It remains to be seen what The final
the effect of
Suez problem will be. China Spoolal
Moll
New York Sugar Market
Old contrari
Oct/Nov.
Dec./Jan.
Mar/Apr.
May/June
July/Aug. New contract
4.03
24.73
Oct/Nav
Dec/Jan.
Mar/Apr.
May/June
July/Aug.
Egyptian Kamak Nov. Des
24.80
24.81
24.74
00.00
SAO PAULO
Future closings, in cruzeiros per kilo were as follows:
1950
Dec.
Mor.
May July
37.70 38.25
40.20
40,00 39.70
In the US the average price, Spot markets was 33.21 cents, New York, Oct. 9.
totalica 60,907 bales. World No 4 Bugar futures Sales today closed 2 points lower to United Press. 2 points higher 11 contracts.
with sales of
Domestic No, 8 sugar, closed
day that free world production 2.00 puyers of cotton will probably decline 2.57 buyers
20 rotla
10 utilities
65 stocks
40 bundy
everages
Comin, spots price iecien Comm. future price index ..
Closing Prices
Alden Inc. Acy.
Allied Chemtexsa Allied Mills Inc.
American Airline
Allis Chalmera
American Cable & Hadio" American Cyanamide Co.
Corp,
Amer, & Forga, Power
2.09 buyers in the current 1850-57 season. 3.40 buyers
It said that the latest forecast A. Maoh, & Fdry.
American Metal United Press,
States confirmed | American Smelting in the United
London Stocks
Close On
Lower Note
an
the Ilkehood of a
chaction in cotton c
the
outside "Production prospects out
US are generally favour- able," the report said. "Acreage s known to have declined in some countries, notably in Mexico, Dorpt cnd Central
America, but this may be offset to some extent by the possiblity of Improved yields. Production in Mexico has declined 450,000 bales."
The report noted "favourable спор progress" In the Middle East London, Oct. 9.
India and Pakistan and Stocks turned nervous sold that "barring any adverse and closed on
ir weather between now and the end of growing period, aggre- regularly lower note in
gate production outside the US fairly quiet dealings on should be very roughly com-
London the
with 1955-50." Exchangemensurate today. Scattered selling United Press. in industriais, appeared with electrical shares the Rolls.
Writing in the October Natural world's output of matural rub- unchanged to 2 points higher New York Foreign principal victims.
next largest single with sales of 345 contracts. Rubber Nows, Mr HC. Bugbee, ber. The
World futures ruled quiet the Bureau's President, said that using nation in that period was
that the United Kingdom which con-reflecang a slackening quy August statistics showed butyl output exceed 7,000 tons sumed 12 per cent.
futures for the second month in a row "Or the total synthetic rubber while July and August consump- used in the world, the United tion averaged only about tons.
In the raw market.
Strength in domestic reflected the higher raw mar-
2,080 States consumed 83 per cent of ket. Most of the business cen- total world consumption for the tred in the November delivery, same 18 montim," he added.
attributed in part Buying was Outside US
of
"Butyl locks at the end August at 20,719 tons compared with 12,305 tons a year ago, and it la interesting to note in this connection that in recent wocks developments in the production of an all-butyl tyre have been widely publicised," he declared. Cut Into Stocks
Exchange
Royco yielded about two shillings while Ford Mo tor was a fractional loser. then Olls opened casier,
the jitters and re- overcame 178-11/10 covered a part of their losses in
31.02-4/04
2.61-3.43
LONDON METAL PRICES
London, Oct. D. Prices of metals closed today in sterling per long ton as fol- tows!
Now York, Oct. 9. Closing rates were; Canada England official
unofficial 30-day futures
3-month 2.18-3/32 the afternoon. Royal Dutch 'rew Tin apot
Copper spot futures 277-3/32 mained on the minus side, off
3 month about £ and British, Petro- 2.774
a shilling Lend ist half 3,72-1/10 leur closed about
lower.
Zine ist half United Prem
Suez Canal shares sustainīci their unexpected strength of past tow days, sprinting more than £2 to touch C00%
Australia New Zealand Bouth Africa Belgium
200%
London Foreign Exchange
PO-day anticipating to short covering notice day, Oct. 9.
possibility Uncertainty over of a waterfront, labour tie-up, "Considering all new rubber,
phus synthetic, the beginning on Nov. 1. Increased natural
refinery interest in additional United States accounted for 52
con- supplies. per cent of total wordt sumption during 1950, but for the first six months of 1950 had dropped relative standing to
In 49 per cent.
Consumption outside the US "Any signifcant production of butyl tyres can put into stocks during the fast six months of Increased has very rapidly, and the progress of 1058, however,
from 117,000 ton of new rub- butyl as a tyre rubber politor in the future cannot be ber por month in 1955 to 120,000 Taken lightly by either natural tons per month, or an annual
sito increase or GR-S suppliers."
of 144,000 tons. Commenting on consumption, The 12,000 tone monthly increses Mc Bugbee said that in the past consists of 8,000 tons matural sind 18 months the United States had 6,000 tona synthetic, China consumed 30 per cent, ot the Mall Spedál,
-com-
the
Chilean Northern Railway de bentures enjoyed sudden Inter- est, adding £4.
Government
London, Oct. 9. Britiais
inclined tower,
Closing rates were:
Contract No. 4 (world) March May July
Bept Spot-teenie, per. lb. fab
Cuba)
3.25
Contrhot No.
•New York
Now,
May
Sept: Nov,
0.93
Montros
BAT
6.55
Вл
nta, per
NY
Amterdam
Paris
Eurich
A-9/10
bonde
Foreign bon doch most of the time, although Czech six per cent lens' managed a £1
Fross
4
Buyers Ballers
785 *187
284
United Press,
NEW YORK METAL FUTURES
New York, Oct. 9.. Price of metal futaires closed Today in beita por Ib, ans 'follows:
Lord
10,621 October Mavrender
16.410 Tin October
,100.256,
November October
November
Novem
American Tel & Tel American Tob. "I' Anaconda Copper Armco Steel
Armour N
Alas Cona, tining Baldwin-Line-Ham. Baltimore & Ohio Bendix Aviation Corp. Benguel Cons
431.32
158.14
60.07
110.41
82.49
Pittsburgh Plate Caland
Publicker Industries Pure Ou Redio Corporation Republic Stect Reynolds Metal Shell Oil Co. Saint Reg. Paper Binclele bil Socony Mobiloil South Puerto Rico Sugar Southern National Ca Southern Railway (Com.) Sleep lock (Torontoex.j Standard Brands Standard Oil of Cal. Standard 0 of Ind, Standard OU N
Bokel Van Camp, Studebaker-Packard Corp. Swift & Co.
162 70❘ Txar Co.
100 60
Tide Water Am. Oil
Twenty Century Fox Fitn Union Carbide
Union Pecine Ralfway United Aircraft Foll
V.B.
Oyprum
U.S. Line Co.
$18
U.S.
3214
U.3. Itutiber
U.S. Smelting
U.S. Bleel
Warner Bros.
Westinghouse Electric West Va. Pulp & Paper Woolwor
United Press,
NAMESAKES
Answer:-1 Lucius, 2 Armour, 3 Terror, 4 Fight, 6 Rebellion, d Conspirs, 7 Grievance, 8 Rome.
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