.1
TRADE
THE CHINA MAIL THURSDAY, OCTOBER 18, 1956.
and
COMMERCE
RUSSIAN AND EAST GERMAN
CREDITS FOR WORLD
YUGOSLAVIA
Assistance For New Aluminium Industry ·
Belgrade, Oct. 17.
A commission of experts appointed by the Yugoslav Government is drawing
Wall Street Fails
COTTON To Find Stimulant
MARKETS
New York, Oct. 17. Cotton futures steadied today after a steep open- ing drop.
Initial losses, rumming up to
$1.05 a bale, reflected a resump tom of the liquidation-hedge selling movement under way at
the previous close following a two-day drop
Buying on technical reasons, of bale, 14
along with
a
up plans to enable Yugoslavia, with large-demand from textile mili ac-
Union and coments scale help from the Soviet East Germany, to become a major producerable prices of aluminium.
The new aluminium
industry
The two countries signed 111 Cognise the East German Gov- Agreement with Yugoslavia in ferment diplomatically. She is Communist State to Moscow in August whereby they the only are Jointly giving credits worth recognise only West Germany 175,000,000 dollam (£58,000,0000 sterling) To enable Yugrslavin to develop un aluminium industry.
of WTV the will be situated
will what their production have not yet been worked however. That is the job of the newly formed commission, which must work fust mrsugh to enable construction of a new factory to begin before the end of the year.
Details factories
Rich Deposits
new
is exparted to be based on three large factories. The existing one 1 Kidriesvo will be expanded and A second one will be built with be the Soviet-Eat Germpe loan, t. and a third with further Soviet-
East German later.
Yugoslavia has rich deposits of bauxite, mestly in the west near the Adriatic coa . In 1953. ahe producod 791.017 tona.
"
1
4
nkd
Alternatives
promised
will. The experts commision it is believed, choose a site near the new The Adriatic coast for factory, so that it will be near its raw materials-bauxite do- | poaits, coal mines, und electele
·chemes under develop.
power
lit more than she produced meet in the Dmarie Alps. before the war in 1939,
she is second among bauxite
re-
shipper Cover
covering against export commitments, en-
to Kadually trace most of the lost ground,
the day's Closing neg
best levels the
3 list finished net [higher to 0 points lower, Open-
were off 10 to ing prices points.
33
New Orleans down) 7 pohats.
cloned up B to
Fisibility of increased hedge
the harvest selling, .5
renches ttmattetilly
long with the
Benson
专业
peak, in
slow-down
texille market activity and " tower
September consumption estimate, explained the early selling, traders thought.
Technicians stapposed some of the bullish implications seen in the supply situation may have been discounted for the recent rise of $$11 to $16 o baje tran the lows of late July.
'Five New York
Cotton Exchange Strvice Bureau today celinunted domestic consumption of ath row collon in the five central One kely mile is in According to Yugoslav figures,
either at Spilt or
weeks ended Sept. 29 at 835,000 y to Fraped Dalmatta,
with 674,000 5.benak. Alternatives are either
compared producers
in bales Muree-
11) the ot
the corresponding last
The daily period
year. govina, or Niksie in Montenegro, -China Matt Special.
rate of use in September average 33,400 bales against 34,300 balon in August and 34,000 bales in Sept. Last year. The etruscated stock remained at 2,076 bales.
Month
Volume Open interest
24,200 430,100 20,400 417,400
Europe, Yugoslav geologists call-Mostar, chief town mato that bauxite TRECTVIS are sufficient to last for two cen)- turies.
But most of this bauxite ban hitherto been exporled, for the production of aluminium abroad.
lons In 1935, only 11,499
tí aluminium were produced in Yugo tavia, while in 1934 the and in Ligure was 3,490 tons 1939, before the war, 1,705 tons. The present regime, which re- cords thia
export materials as a form of "colonial" exploitation, hes for years been trying to develop aluminium industry,
#
of
raw
CHICAGO GRAIN
MARKET
Chicago, Oct. 17. Grain futures prices were steady to firm on the Board of Trade today. during active domestic dealings. The jump in production from The mnin price alimulant 3,500 tone in 1954 to over three | seemed to be reports that the times that amount last year is southwest મ Agata explained by the fact that Yugo-
moisture,
slavia
have already
factory with their own resources
at Kidricevo in Slovenia.
Rolling Mill
Buying by exporters also was
Dec
Mar.
May
19,800
201400
July
8,000
143.900
Oct
11.700
00,100
Dre M
6,000
68.900
900
a.500
Total
84,800 1,453.600 vales
NEW YORK
Prices of futures closed today As follows:
Spol
In need of
Dec.
Mar.
built one
MAY
July
Oct.
a ise.or in the general upturn, Dee. although no great amount of Mar. export activity was reported.
Soybeans moved higher today
higher
on
NEW ORLEANS
And Backs Down
New York, Oct. 17.
Stocks found the going difficult again today with nothing to stimulate demand and backed down for the third consécutive session of decline,
LOSIC'S ranged well over D point in a number of leaders, but there wte no pressure be- hind the selling.
Out of a total 1,131 issues traded, 80% closed lower while 274 mannged gains,
Industrials lost 2.91 in their totalled Turnover
1,040,000 average, pulled down sharply by shares, 60,000 ahead of yester-osses of 21⁄2 points In Du Pont, day but was still far from secunch a point euch in Chrysler, heavy.
Eastman Kodak, Texas Co., Union Carbide, US Steel, Bethlehom and Westinghouse.
Shipbuilding Strong
the Today's lossy came in chemic, steel, aluminium and oil equipments.
WORLD
RUBBER
MARKETS
New York, Oct. 17. The No. 1 Rss rubber futures continet closed today 10 points higher with anles of ave con- tacts.
33.10 Dec The rex contract closed unchanged to 20 poštu ugher with sales of 118 contracte.
Nov. Jon.
Mar
May
July
Sapt
Nov.
A282828
1988
issues
were
Shipbuilding strong spots, closed with losses of 1 points in Bath Iron Works and 1 in Newport, but a gain of 1% in American Ship Building. Oll equipment stocks Halliburgu hil with Dresser off 2%, National Supply down 14.
were
Capital Airlines stood out on the upelde with a 2 point gain axi Fedɗrs Quigan climbed 115 to $12% or a dividend increase,
SECTION
NY SILVER PRICES
New York, Oct. 17. Handy &
Haringi. bullion dealers, today quoted the price of silver at 91% centa a Ane ounos, up cent from yesterday and the highest level since Inte February,
Normal supply-demand fmotors were behind the advance, the third this month. The white metal touched its high this year on Feb. 17, at 925% cents.
Today's quotation is the highest since Feb. 27 when silver sold at 90% conts, reflcoting in pars morensed demand for silver for the holday buying stason, ia 1⁄4 ceni aboye what the US Treasury payı for newly mined domenilo silver.
allver In London, spot
at 80 WAS ap penny penceUnited Press.
HONGKONG
STOCK EXCHANGE
Page
Portable Warehouse Developed By Rubber Company
Chicago, Oct. 17.
A portable warehouse, entirely supported by air and large enough to hold two million pounds of package goods, has been developed by the United States Rubber Company for Calumet Industrial District here.
The pneumatically supported building, 80 feet long, 40 foot
wide and 20 feet high, contains New York Sugar
more than 64,000 cubic feet of storage space. It weighs about 400 lbs, costs about $2,000 and man be erected by three men
in one hour. It is made of paper- thin, tough vinyl-coated nylon fabric called fibrethin made by the coated fabrics department of the Footwear and General Products Division of US Rub- ber at Mishawako, Indiana.
It has been shown publicly to more than 1,000 Industrial leaders
ments
Market
New York, Oct, 17. World No. 4 sugar futurea closed today unchanged to 1 point lower with sales of 20 contracts.
Domeste No. 4 sugar closed un- changed to 4 points higher with of 328 contracts, Covering sales
the November fore its expiration
delivery be
on Friday,
in
affending a seminar accountext for covering the test develop-
tract. In modern tribution, transportulion and warehousing #ponsored by Calumet Arial District Company.
The building was by
most domestic
of the
con-
Contact No. 4 (world)
activity in the
Futures:
Indus-
Mar.
May
July
described
Bept.
Spot-(conta per ib fob Cuba)
Mr Add'son BrOWTE,
cr CID, nd "The Nov. answer to warehousemen's need
(From Our Correspondent)
Business cone on the Hong Presiden
Exchange this 10 approxi- kong Stock
Noon quote-for low cost, low maintenance, July morning amounted
flame resistant, York Stock Exchange mately $300,000. New
Lemporary Lions and the morning's trans:<-
warehousing." lond volume was $2,310,000,
American Stock Exchange tions: volume was 029,000 shares.
shares Buyers Sellers BANKS Dow-Jones ciesing averagesн bank
1010 1030
were:
30 industrials
211 fails
title
03 stocks
40 bonds
sales
Com, future price Moody's index
Index
Index
Солил, трос urica Standard contracă eloned unchanged to za points higher with no reported.
Dec.
Mar
May
July
Sept.
Nov.
882228
Closing Prices
East Aste INSURANCES
244
1000 421%
4.13
494.50 Union 160,24 Lensbard
50.16 S11PPING 171.83 | Whestusk 57 70 X.ALL 161.2 DOCKS, ETC.
www X. Whor 418.00 Dock
Provident LAND, ETY UK Fotel ik Land Humphress
Really
RUBHER
451
13.00 13.90
13.40 15
64 044 A 10.90
100
Sales
400 à 43%
Alden Inc. Acy,
# 1956
1.50
30.75
Allied Chemicals
934
30.25
Allied Mats Inc. Alta-Chalmers
12
Anula..
1.00 1.025 5000
コン
12.000
157D 1.00
231
Trual
1.35
exchanges
in American Cable & Radio Corp. American Cynnamide Co.
ON
UTILITIES
Tra
23 20.70
100 7.00
American Metal.....
201
Star Ferry
142
American Smelting
Yaumati XD
107
100
od
American T & Tei
100%
C. Light D1 24.00 24,90
Amaron Tob. "8"
Electric
Telephone
25
24
Intra-dealer switching opera-American Airline tions, involving
of March- contract the rex
con- January and March-May
a good tracis, accounted for part of the small terminal mar- ket busineIS. An overtone of with steadiness was associated
and the London market
tho continued supply of higher price shipment offerings from
the Far East.
.81-83
32,75
38.70
222208
Anaconda Copper Armon Steel
animore & Ohio
23424.DO
19 24.00 1000 2400
F 500 31.15
2002
According to Mr Brown, "the distribution Industry has been on the lookout for a lightweight, portable building that could be and moved put up rapidly tasily
location to
from one
| another.”—China Mail Specia).
London Market
Unable To
Hold Advance
London, Oct. 17.
Activity increased but
stocks failed to sustain a general advance and som had, irregularity on London Exchange today,
Industrials
the
posted numÉTOUS gains. Electrical share.
were firm. Parsons
and Reynolds. advanced two chillings or more. Other Bections had scattered 200 or 10.40 gains running to about a shilling.
Alba Cons. Mining Baldwin-Line-Ham,
Bendix Aviation Corp.
Benguet Cons
Bethlehem Steel
Boeing Alpiano
3376
230
Borden (The) Co.
58% Í INDUSTRIALS
wero
Burroughs Add Macting
12
Comment
3B15
40 41 381
in
Canadian Preiße R.
2314
300 302%
Care (1) Co.
13% Rope
13.20
Cal, Tractor
Celanese Corp.
15
STORES, ETC. Dairy XD
15.40 151
C. I. T Financial Chase Manhat
#17%
Bank
326 Watson
Commercial Credit
Commonwealth Elec.
Consolidated Edison
Continental Oll of Dul. Стале Со
In the local delivered market,
Factories medium-sized buyers of small quantities the forenoon, but the demand faded out again later in the
No.
Rss was day. Spot
nominally
cents 3214
Prices of futures closed today quoted
This factory, named after Bors
prices for soybean as follows: Kidric, President Tito's economic oil. while yesterday's steady
this planning chiet who died in 1953, markets
com- Spot helped will have a capacity in its pres | modity. sent form of 15.000 tons of aluminium yearly.
Dec
Маг
is cents; at
cents.
Wheat closed up
soybealis
% to 14
May
July
up
to 5%
Oct.
Der
Mat
Prices per bushel in cents: Wheat, No. 2. red
In addition.
construction going on of one rolling mill Razine near Sibenik (Dalmatio)
DI annual capacity with an 18,000 tons of rolled aluminium producte and 4,500 tons of elce trolyte aluminium and another at Slovenska Bistrica (Slovenia) with an annual capacity of 10,000 tons of products of rolled aluminium and aluminium alloys. A new bauxite mine has been opened near Nesic, to yield up to 100,000 tons annually. But this was all on
a small scale compared to what Yugo- slavla's economic planners have for ycors had in mind. It is understood that they tried to in- terest Western countries, with- out success, as well as the Sovie! Union and East Germany in the large-scale development of DE aluminium industry.
New Factory
The Moscow agreement pro- | vides for the 175,000,000 dollars
sh
Spot
Mar MAY July
Si
Cars, No. 2, yellow
Spol Des
LIVERPOOL
BEER88
8888382
Future closings, in pence per
Ib. we're as follows:
Mar/Apr.
a pound.
!
SINGAPORE
The market opened better on overseas advices and remained icody throughout the day on
demand for good trade
grades. Futures:
No. 1 rubber per lb.
Det.
Jan.
No. 2 rubber per tb.
Chrysler Motors
Colgate-Palmolive Co.
Crown Zellerbach Dow Chemicals Cuban Amer. Bugar
linquoted General Electric
ind
70 COTTONS
473 Textile
40 Nervnog
394 INVESTMENTS
43
Allied
000 15 30
13.00 14.10
4.40 4,30 1.60 7,68 2000 a 1.59
4.45
Singapore
Stock Market
but
Oil caine under fre losses were not excessive, Royal Dutch cased about £. British Petroleum and Shell were off about one shilling.
CANALS SKID Anglo-Ecuador lost more than two shillings among the lesser- known olla,
Suez Canal, a wide mover of tute, didded £4.
1
all Dupont de Nemours
10314
Eastman Kodak
0172
El Paso National Gas
Erie Railroad
20
33-9335
Family Finance
Corp.
221
163-934
Ford Motor
01231
Nov 0144-14
General Foods
40
General Motorn
4734
Gen. Pub. Util.
the
37
232-0315
Gelty Oil
47
mostly
23 23 No. 1 pale crepe
• 73-77 115-117
Gudden Co.
30
Goodrich (B. F. Co.
73
25.03
Opening Batu Lintang Rubber Co. Ltd. $1.80
Petroleum 747% British Bomeo
£ 1/10.
LONDON
25.87
Syndicate 0244 Consolidvted
Forclin bonds
Smelters Th
23.02
25.47
No. 1 rubber per lb. Nov. 10-0012
25.47 No. 4 rubber per tb, Nov. 10-87)
25.40 Spot rubber unbeled
25.33 Blanket crepe
Goodyearing Co. Horlake Ingersoll-Rand
Inland Steel Co
The market was steady with Int'l Business Machines
25 37 #pot 1/16 of a penny higher at Int'l Harvester
25.11 274 pence.
Closing prices
2470
206-20
Old contract
Oct/Nov.
Dec/Jet!.
22831
May/Jun
July/Aug
New contract
Oct/Nov.
M
May
1409 1437-144 14013
Dec/Jan.
Mor./Apr.
May/June
July
July/Aug.
Sept
Eayutlan Karnak Nov/Dec.
0.00
Bye
SAO PAULO
Dec.
Ma..
1432-12 1884-15
Oats
Dec.
Mar.
1034-Já 0914-1
December
March
Boybeans, No. 2, yellow
May
Spat
22534-22014
July
Nov.
26115
JAL Mar.
24415
July
25012 25816 251のほう
130-145n
$13.200
annual Barley
to be spent on buikling a large new factory with production capacity of 60,000 tons, and Од expanding and modernising existing plant to in crease its capacity to 50,000 tons, making a total annual produc tion level of 100,000 tone by 1981.
The Soviet Union and Eas! Germany will provide equip
Spot
New York Dour
200 lb. sack....
►
United Press. WINNIPEG GRAIN PRICES
Winnipeg, Oct. 17.
Future closings, in cruzeiros per kilo were as follows:
October
30.00
International Nickel
Singapore, Oct. 18.
today quoted following stock prices:
Brokers
54/
21/04 4091 Fraser & Neave Ltd. Ord. $2D4* France & Neave 7% cum.
$4,00
Ballish Governments finished with gains
around
were caster ad- except for a few £4 vances in German and Japanese
licos.
Dollar stocks showed an ir- regularly lower trend.-United
35
1033 pref..
International Paper
115
| Gammons (Malaya)
Limited $2.00
No. 1 tas pat SMUement house ierin
276-27421
Tel & Tel Kennecott Copper
913
tongkong & Shanghai Bank-
ing Corp.
FX43
Nov.
714-275
Dec.
214-273
gett Meyers Tob, Co. Lackhoed Aircraft
6416 Hongkong Tin Ltd.
d/bd
Pross.
50% Kempse Lid.
Jan/Mar.
Apr./June
27-2714
22122735 La Cement
Lone Blar
1916 Lune Rubber Zirates Lid."
80.00
Co.
07
Mainyan Breweries
$2.97€
05
Jug/Sept.
New Serandah
Rubber Co.
2342
Lid.
$1.39
Oct/Den.
Bembi Iron Corp.
Pataling Tin Ltd.
$340
376712
Mishesota Mining
17?
Ranies Hotel
$2.50
27-273
341
Mission Development
Singapore Cold Storage ***
$1.83
Montsanto Chemical Co.
301
South Britah Insurance Co.
Montgomery Ward
423
Ltd.
$33.50
Motorgia Inc.
45
Straits Trading.
$20.00$
United Press.
National Cash Reg. "A"
Biral Steamship
$15.50
Prod.
United Engineer Ord.
Wearne Bros.
$3.15 $3.23
20%-20% Louisville & Nashville . 261-2015 Lowenstein & Sons.
40.00 General markets, eff haste, poria:
$8,00 3.10
Nov.
Dec.
39.30 Estate Sepo
In the US the average price was unavailable. Salfs totalled 03,097 baics-United ProSS.
LONDON METAL
PRICES
London, Oct. 17, Prices of metals, closed today in sterling per long ch
Prices of grain future; closed follows:
ment, technical assistance and today in cents per bushel as documentation. Russian and Go-follows:
man 1. experts
construction.
will superviso
Oste
per
Oct.
Nay
July
Det
The Jon will bear two cent annual interest. Yugoslavia will repay it in kind, that is, by sending aluminium and alumin- ium produce to the Soviet Union end. East. Giżyánky.
First Phase
This is to be a "drst phase,”
・
Barley
and the three governadente are to Y negotiate further credits Inter." Some Yugoslav, engineers dla Main" / that the country's" annatal production cerereould attimate
£300,000 tortuga Politically, the
interest « bocnube," "Kugoslavia
Tin spot
3-month
Copper, społ
3-mont
Bend End hali
Lend and half
Kine and haiť Oct.
thin Oct.
thick
New York Foreign
Exchange
New York, Oct. 17. Closing rates were:
National Dairy
National Lead National Steel Corp. New York Central Oila Elevatore Ohren-Inola Glass Pacific Gas & Elec..... Pan American Airways Paramount Pictures Parke Davis Co.... Penny J. C. Co. Philip Morris Procter & Gamble ( Pittsburgh Plate Glas
Publicker Industries Pure Oll
Nadio Corporation) 2.78-1 277-Vid Republic Steel
• cook ↑ exdiv È cundiv.
| NEW YORK METAL
FUTURES
Now York, Oct, 17, Prices of metal futures closed today in cents per h as follows: 15.074 Lead
Oct.
10.06 104,750
13.0
buyeru nelier | England official ...
Nov.
813
30- diny
futuros
Oct.
104
785
futuros
200
New Zealand
Beint Reg. Paper
Nov.
200 2001
nited Press.
Sinclair Oil pr
Zinc
Qot
Bocory Mobiloll_
Nov.
$10 128
outh Puerto Rico Bugar
Boullyerty National Gam
Standard Brande Blendero
113 113
CHICAGO LARD FUTURES
by Chicago," Ook. 17, Prices of hard futures closed, today, in cents per lb, 'nf%26llonte?,
London Foreign of
Exchange
London, Oct. 17.
Standard &
Corp,
Copper Oct.
-Nerv
Sipot prices:
2 conda per ib. $4.50 per 1b... $40-40 person per;ib..
21.10 cents per ib
Exchange Rates
(market
May
Sept.
Nov.
Contract No. 6
Spot-(cents per lb. cit
NY ex-duty?
United Press.
NAMESAKES
265 873688 2
Answers—1 Hesperides, Strength, 3 Pillars, 4 Arcadio. 5 ĮAugeas, 6 Legend, 7 Cerberus, &
Amazons.
Hercules.
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