THE CHINA MAIL, TUESDAY, OCTOBER 30, 1956.
TELADE and
NIMERCE SECTION
European Free Trade Decision No Adjustment
Expected Shortly WORLD
INDUSTRIAL AND POLITICAL
CIRCLES IN FAVOUR
From RONALD BOXALL
London, Oct. 29.
RUBBER MARKETS
New York, Oct. 29.
WORLD
COTTON MARKETS
New York, Oct. 20,
The No. 1-Ray rubber futures Trading» volume and .open. contract today closed 20 points interest
the New York Higher with sales
17 Exchange today were as follows. Volume 1, Open Internet
17,300, 11,700
contracts.
December
of
Month Doc.
320 MRT.
The rơx contract closed 50 to May 100 points higher with sales of July 152 contracts. November
Maret
September
November
Oot
39.00 Doo,
M.15 Mar
301,000
415,400.
20,000
341,300
330,000
5,800
110,100
5,600
89300
1,000
13/200
0100
NEW YORK.
21.00
today as follows:: Boot
33.00
5918
Total
Consultations between the Government and the various ery interested parties on the proposal that Britain should join the projected European free trade area are nearly completed and Mr Macmillan is expected to make the final policy decision00 points higher with sales of M very shortly.
and, argumenta. The subtle differences
· Necessary
Tokyo, Oct. 29.
Mr Clarebon Presture Howe, Canadian · Minister of Trade and Commerve maki today Japan need not adjust fia textile exports to Canada since Japanese merchandise was popular and present Canadian f ports of Japanese goede were sol excessive.
Mr Hows was speaking of the to representatives Japan Colton Spinners
nt
Aambeilors Western Japan...
Herald Javan's textil® Exports to Canads had in- cressed rapidly sinos
lowering - of 1,499,900 bales
Prices of cotton futures closed-
May
35.00 July 33.50 October
Standard contract closed 50 to December
six contracts, December March Arsi in the July
September of emphasis.
November alress safeguards
That decision is almost certain, Vaninge to culton textiles to be affirmative. There may be certain other industries.
The Economist, on other hand Sir Graham laid greater from scane mulated opposition
of on
need The both airesses the high proportion pockets ** profeettunarti
for
to
3300
December
12.35 March 31.00
NEW ORLEANS
34.000
23.00.40
94.03-07
33.03
31.45 Pricts of futures closed today
strength as follows.
Terminal market reflected
the sharp rise at
Spot
December
March
May
July
October
December
sidry of industry, bd the general Commonwealth exports to Bri-winle the journal unashamedly London, plus a scarcity of chip- view in political and industrial am which would be specifically declares; "this is something
in that Britanti should excluded from the free trade ar- circles aligh heel with the free trad-rangements. Only ten per cent of ing group of countles, subject their exports
VIEWS
fo
and
could be affected by a lowering of British tariffs lo sulable safeguards.
ofon European manufactures Pederaten The powerful British Industries has yet only a small proportion of that reported N
the ten per cent in practice would Goverment, but Sir Graham be affected.
Sadness Hayman, a president, indicated the lie these would take when he addensed Federation mein- bers in the highly industrialised
northwest regio
Dial
a trumpet for-in Found Meer.mm-1's own key."
Second Thing
Thement offerings and speculative
buying and short covering.
Because of tho Singapore TOLING
receivers
reported
The second thing these argu- that monly have in common they are both essentially nega- tive and based on the proposition that Britain would be making a The Journal professes kad-
free gift of the European market new at the gradual "whittling to Germany if she stayed out eway" of imperial preferences of the free trade arca The but argues that this does
Economist emplay! this argu- arise from changes of traspecs |ment became it believes it
elunges Britan and weigh
with the "sober more
man Graham's Europe but from changes in the doubters." Sir Graham Hayman argumends ferilenxceed closely Commonwealth Communities them- une feels, uses it in an altempi along the Lates * Brose ex- selves who have reacbell the stage in break it as gently as possible
acction in their development where they [io certain
of British pounded two days later by The Berne miel, a journal which con-
want to buy in the cheepest industry that the FBI will
de- #iscently mngues the meFIN of markets and also protect Their clare itself "sober doubts" noi- four trades and wholehem Felly trwn domestic manufactures.
withstanding on the side of the present European
There Art 1W43 supports the
EN 673-free traders. mediately noticenole about these
Followed Lines
Significantly Sir
meve.
Botin
The
Sir Graben Economist argue treni the stund- point that Britain would sun tat greater risks by remaining cat- Bide the free teadle area than by jumt
Ste Gruhates wa
1 we re-
m
fuse 10 arrinte canyelves with i this plan we run the 18k of a acrius degree of exclusion from great and growing market on
In our doorstep might also develop to an in- ereasitiv polem rumpettine in The Commerewealthy and other markets"
The Ever inst peut eat thei If European counties spærreded in their plans for stuhilubang a COMITION The
of Britain stayed unpletely outside these I would ment that triffs against German gred in Europe wald rome down while ta. Tast Brilish go ds stayed up.
See Eye To Eye
Advocates o European Free trade, the jeanni er tes are not running after a will-o'-Be-
aw form whp ban
sprotse The terrifying- pectre is
Ian ebullien Ger- by Hulk many rabistung unchallenge- able hegemony over the export markels ul The Continent."
---
Sir Graham and The Econom it also see eye in eye on an- other of the arguments involved in the much wider debate on the subject of free trade. Both have emphasised the differener between the situation now and that which cbtained when free trade
was last a live political and reunoinie jrsue.
The industrialist pointed out that the proposal must be con- sidered in the fight of the radical changes in world conditions and trade and not prejudged by re- In the ference to the positan 1920s when Britain was prac tically the only free truding country in an increaslugly pro- teclive world. Today the position wty
and Western reversed Europe in particular was moving towards away from protection greater freedom of trade,
7517
-(London Express Service).
Wall Street Slumps
On News Of Israeli Attack
New York, Oct. 29.
ing
March
13.30
33.07
33.06
31.08
33.60-65
21.85
13.07
34.90
extremely tight shipment offer-
LIVERPOOL at "porrifically high" prices.
Future closings, in pence per Some mumber one
(**) | 1b. were as followe November shipment, were re- Gid contract Oct/Nov.
done ported
Dec/Jes. eents pound, cant and freight. with further unsatisfied buyers. Fre
at 33
however,
tx/Apr..
Rih
Inriffs after conclusion of the Japan-Canada Treaty of Commerce-Reuter,
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately 24.07 $368,000. Noon quotations and 24.7 the morning's transactions:
Bayer Bellers
May/ July/Mig.
24.42
25.09
Dec/Jan
23.00
Mar/Apr.
2022
Shares
BANKS
May/June
25.02
KK Bank
July/Aug
74 77
00.00
prices were
this morning.
K. Whart.
tory buying in the delivered New contract Oct Nov market.
continued light although the sharp
price rive brought
more inquiries. Spot
No. Res was quoted | Egyptian Kamak Nov/Dec...
580 Paulo nominally at 34 cents a pound.
Singapore rubber prices were unavailable una valtable.
United Press,
LONDON
The market was frm with spot quoted at 28 3/16 pence per lb. Prices
No. 1 Ras apat Settlement house term
·
281%-287
20%-2015 2014-2011
Singapore
Stock Market
Singapore, Out. 30. 2016-2016 Brokere today quoted the fol- 204-21 Towing stock prices:
General markets, cif basis, postat
Opening | Bapu Lintang Rubber Co. Ltd. $1,90
Eritiah Borneo Petroleum
Qyndicate unique... 84/66.
East Asia
INSURANCES
Union
DOCKS, ETC.
Dock
Prov.
.
LAND, ETC HK Hotel.. HK Lond.. Humphreys Tealty KD
RUBBER Amoig
1630
244
978
14,00 15.10 0255 04
10
1,00 1,00
Bulo
London Stock Market Mixed
London, Oct. 29.
The London Stock Exchange was mixed; and quiet today as traders awaited further develop- ments in the international situation.
Soviet troubles in Eastern
Europe figured behind continued New York Sugar
Market
amali buying of Iron Curialo bonds. Hungarian Issues were up £1 to £17%. Others in the group were up a few dillings.
New York, Oct. 29. World No. 4
futures sugar Industrials wore steady except today closed i połnį lower to 1 for weakness in the Thorney-point higher with sales of 71 croft's which 4 shillings ou an expected drop in earnings and reduced dividend.
[cli
more
thon
contracts.
Tobaccos looked weak at the opening but recovered theb losses with British-American closing with a gain of six pence.
Oila were mixed again. Royal
1
Domestic No. 6 sugar futures point higher to 2 points lower with sales of 12 contracts.
In' world rows, Chilo was the accredited buyer of 20,000 toma
of
Peruvian mws late last week against ita
bons,
60,000 ba inquiry for a total of Domestic raw market was ut
stands Lill following
quota raw?
Dutch improved £ to £81, announcement that cane refluera but British Petroleum and will be permitted to bring in in band Bumah were off a shilling or | SKUS
This action more. Suez Canal teli £ to during December.
created
confusion £591⁄2-United Press.
es to the value of the commodity. Dealer fest a brake had been put on a bur- ther rise in raws.
NAMESAKES
Futures:
Contract No. 4 (world)
March
May
July
Answers-1 Custom House, 2 sapt
Contract No.
Architect, 3 Drawing, 4 Pilars, pocents per . fob Cuban 5 Domes, 6 Monument, 7 London, Mar. 8 St Paul's 9 Churches, 10 Cell May ing, 11 Fire, 12 Wolls, 13 Re- |July store, 14 Temple Bor.
15 @ 1000 Hampton. 1024
1500 @ 10
3000 @ 1,55 5000
Dec.
Jan/Mar.
Apr/June
July/Sept.
2000 » 1.023
OCL Dec.
Nov.
Dec.
2016-201 28-201
Jun.
Estate crepe thin Nov.
2014-2014 Consolidated Tăn Smelters
Ord.
thick Nov.
AMSTERDAM
Prices
per
Lunas Rubber Estates Ltd. 0.00 2.73 ugers Malayan Breweries............. 2.73 nom.
Year Heave Ltd, Ord.
$2,03 Fraser & Neave Ad. TAK
oum, pref, M
14.00 Garmona (Malaya) Limited $2.00 Hongkong & Shanghai Bank-
$580
12.03
23/-
Truma
UTILITIES
Train
Youmati
LUGO 1.0735
23.20
100
1000 @ 23.40
000 $23.40
272 100
Petriu
Macao E. Telephone
C. Light (0) 24,40 2480 C. Light INI 34.30
31 39
9.20
1843 my 37%
1500 3114
+
(0) 200 24
560 @ 242
400 68
$2,07
(N) 23.00 23.00
66 23.10
| New” Sørknišah Rubber Co.
#.00 Tom
340 buyers
Posting Tira Léd.
Ltd. N
$1.52
500 37,75
$3.40
1000 o grits
Raffles Hotei
$2,00
Rope
13
Singapore Cold Storage
$1.60
STORES, ETC
Bouth Extirah Durrance Co.
Dairy
AMANNA
$33,80
Straits Tradi
$25.
$16.60
The market was steady. closed today in guilders kilogram cit November as fol-Hongkong in Ltd.
lows:
No. rubber
No 2 rubber
on
Na a rubber
1 стак
Stocks sold off sharply on late tickers today when news was flashed of the Israeli attack Egypt.
Dow-Jones clsing
indtriola 20 falle 15 uailtea
turka 40 burnis
The market, up until the an- nouncement
were. around 2000 GMT enjoying its best gains lo more than a month, slumped almost ten paints from the highs, with Mideast of interest, hardest hil.
Com future price index Only the closing gong saved Comm. spot prita index the lit from un all-out break Moody's index as sciling gathered momentum Closing Prices
and put reporting lickers as
much as two minutes behind Allied Chemicals
floor transaction: in the Anal Allis Chalmera minaries of dealings In this American Airline ression which
marks the anniversary of the historic 1929 market crush,
Amer, & Forge, Power 27th American Metal
American Smelting American Tel. & Tel. American Tob. "B" Anaconda Capper Armco Steel Armor Alisa Cons. Mining
shares
Volume
Bf 550,000 cume in the final half hour. pushing Lotel turnover to 2,420,000 shar, compared with 1,800,000 on Friday, and most since October 1,
Individual
Issue, came 4 and 5 points from their highs. The Industrinis
touching hyeinge 494,11 zi the intra-day high] clored at 400.04, up 0.88 on the day. Rails had a net loss of 0.09 and utilities held a rise of 0.26. Out of a total of 1,182 issues traded, 540 managed to hold gain while 390 had net losses.
Good Clip
Baltimore & Ohto Denguet Cons. Bethlehem Steel Camilan Pacific R Chawe Manhat. Dank Chrysler Motora Climax Molybdenim Cote-Palmolive Co. Commercial Credit Commonwealth Elec. Consolidated Edmon Crane Co. Crown Zelierbach Cuban Amer. Bugar Diamond Alkall Dupont de Nemours Eastman Kodak Ford Motor ....... General Electric General Foods General Motors Gidden Co. Before news
new Goodyear Tyre criste abroad, the market had Heyden Chemical
Ingersoll-Rand been pushing ahead at a good my Business Machines clip with all Jeading groups up înti-Harvester fractions
and International Nickel Д pobit numerous Individual features Intl Tel Tel .......
Kansas C. Power & Light running
ng 2 points or more over kennecoti Copper their previous close. The up- Lockheed Alreract turn was described in some cows Incorp ..... quarters as a pre-election rally in Cement Co.
Minnesota Mining Britain can afford to have other and came on the heels of a Mission Development
Montgomery Ward „A countries
protectionist sharp advance last-Friday. stay against British goods while they Many special
urs held at National Lead
National Cash Reg. "A" become freer trading nations or a portion of their wide New York Central among themselves.
gains in the face of the late sell Olla Mathieson
The journal goes farther back into history to make the sume point. The 19th Century problem It says, was whether Britain could afford to remain a free trading nation while all its com- petitors were protectionist; the 20th Century problem is whether
Passed Over
to
of
the
lacuice
Pucine dark Misc. Pan American Airways
Pictures Paramount Fury Co Penn. Salt Co. ******
Radio Corporación Hepublie Btent ....
Bobony
ing.. Among these were Wilcox Ou, up 4; Continental and Sham- Significantly Sir Graham and rock cach up over 25, Du Pont The Economist both passed 3% higher, lightly over the possible effects Where the selling hit, how-Pitburgh Plate Gleas of British participation in a lover, it hit hard. Royal Dutch, European free trade ares on with its Midwest Oil--interests, Thyssende Metal present imperial preference ar- lumped from a high of $100 Mill. -rangements,
to $102%, Sir Graham was naturally off 3%, Gesty Oil went Eles Hook Turonto
to $15 of 24 Det: Gulf Fandard Brands concerned that nothing should be dropped from its high of 31164 and 1 of
awndard done to weaken the link between to close at $111, down 3.
Berikard Oil of NJ. British Industries and the Com- Chrysler, up ovce a point at sterling Doug Co. monwealth, which fakes about its bust, finished with a doss of Stokely Van Camp. half of their exports. The Gov nearly 3 paints. Ford out ware & Co.
15tudebaker-Pockard, eriment, he cald, accepted need
a point. General Motors me Co.
for safeguards against this and held only a fraction: Pional Union, Carbide supported assumption that im- Leading steels
Union Pacifle,
me down United perial preference need not be from their highs to close with Us,croB radically disturbed.
But he made it plain that losses of point eachin. 5) Cypanim
and Brition industrialisis aro not ens Ficha 178.
Stirely happy i even with present
arrangements Imperial proter. Bond volume w: $4,180,000.0
ance, he said, was turnin' of American, Block RACIALES
-United Press.
London Foreign
Exchange
London, Oct. 39.
Closing rates were;
Franka.rt
averages
480.04 160.50
00.37
172.04
04 70
163.35
417.30
New York
Montreal
14
Amsterdami
31%
Brussels
234
LEA
272
Parts Stockholm
5.7%
Zurich
10741
73
8436
5146
3302
82
73
071
-480% 464
Othere Ртема
were
2,1016-2 769%
2 08-15/16-3.00-33/10
10.63-30.03
130.7212-129.76
11,7074-21.703.
00275-993
Kempas Ltd.
Stralis atenship
United Engteers Ord.
• Excall-Chins Mail Special.
$8.00
Kennecott Income
New York, Oct. 29. Mr C. R. Cox, president of 164633-1440).
Kermacott Copper Corp, report- 12,0394-12 231į
Income for unchanged Uniteded the cammy's
New York Foreign
Exchange
New York, Oct. 29. Clodng rates were:
Canta
England omelet
unofficial
1,001%
the first nine months of this YCET was $10.72 per share, compared with $7.58 for the same period last year,
Income per share in the third quarter of this year was $2.48 the compared with $1.53 in sante quarter last your..
Production continued to ex- ceed sales,
said Mr Cox, and for the first time in two years Kennecott had accumulated
2.03-2.08 comfortable inventory,
2.78-7/10
2,78 2.77-1/33 United Press.
30-day futurer futures
10 day
NEW YORK METAL
FUTURES
New York, Oct. 29. Prices of metal futures closed |today in cents per, „lb. ‘aš
80
10
$75
2014 lows:
100%
Lead
Nov.
40%
Tio
Oct
127
Nov.
Zino
Oot
copper Dot.
Now.
Now.
(All October months
the clone) United Press,
fol
6.15b 10.300
106.006
LONDON, METAL
PRICES
`London, Oct., 29.
D
INDUSTRIALS Coment... 3715
Watson COTTONS
***
Christopher Wren.
Repl 15
Nov.
Spot--<cente ex-city)
per b. cat NY
-United First.
PO B·IE.A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Lester London
"CARTHAGE"
"CANTON?
Balled
In Port
14th 'November
123 Novemtide
10th Deceraber
4.70 14.80 2000 by 1400 600 60 14,10
“URUSAN”
FCORPUM
7th November
Whe Southampton, Colombo, Penang. @11lingspara..
Bonwards
"CARTILAGE”
Leaves Mongkung Due Landa
1355
Textiles Nadyang INVESTMENTE Yangtze ...
45 425 1000 R 4,125
7
0,30
CHICAGO LARD
FUTURES
Chiengo, Oct. 29. Prices of lard futures closed today in cents per lb, as follows: | December Tamary
November
May
»
"CHUSAN” TUANTON" "CORFU”
"SERAT"
*BURAT**
iri. Movember '
Both November
8th – Korenbar
3rd December
18th December
∙18th January
15th November
4th Decriber
Vis Singapore, Penang & Colomba..
FREIGHT "SERVICE
Woe DIN NÓV, tram--U,K, Lands and Dio, for shigapore, P. Bweté Lenham, Havre, London. Kotterdam. Hamburg. "Antwerp
Grenze
£1.00 12.94
1310 13.50
13.92
United Prows,
"PINJARRA” due 17th Dec,
“SHILLONG”5«e Zird Dec.
"SALMARA” 'doe Yih Zam. “SHILLONG” lorda j4th Jan-
from UK.
LONDON SILVER
PRICES
Londen, Oct. 29.
The price of silver was quoted The rate of fiture operations would be geared to demand, today at 80% pence for pot which currently was showing and 80% pence for forward. some improvement, ho said. This is a new postwar peak. China Mall Special.
United Press.
P.O
R.M.S. "CARTHAGE"
SAILS:
NOTICE TO PASSENGERS
Prices of metale clowed todayBAGGAGE:
in sterling per long ton se: fol- Jower,
TĚ spot
büyers sellers
1925
3-month
Copper apot
Zine Bid bal
nited"""Premi
Exchange Rates
Thursday, let November, at 12.00 Noon for the UNITED KINGDOM, vin Singapore, Penang, Colombo, Aden and Port Said:
Passengers are requested to send ALL BAGGAGE to the Hongkong)& Kowloon Wharf Co's Godowni No. 2 GATE, CANTON ROAD ENTRANCE, By Noon on Wednesday, 81at October.
113 SPECIAL NOTE: With the exception of hand packages,
carried by passengers themselves, ALL BAGGAGE must pass through 'the Wharf Co.'s 'Godown "for-konding.
on board by ship's eling only
MBARKATION: Prasomi
should
from U.K.
front UK.
י
for Singapore, P. Beret. tenham. Havre, London, -Hamburg, Rotterdard,
Antwerp &
Grange: meth.
'ALL VESSELS OUTWANDS AND ROMREWARDS. VIA FUZZ HAVE · LIBERTY TO PROCEED CANAL, CAPE OF ɑdOD - HOPE OR PANAMA
'CAMAL AT ONNIES OPTION. .
BRITISH INDIA S.N. CO., LTD.
A HUNDRED YEARS OF SERVICE - IIM
"SANTHIA” due its Nov. frem Calenda
~KASTE" OL). Nov.
for Japan!
MEANTIILA” que, dith Nov. from Japan
amily 28th Nov.
Лапко
“ERKAILAN HAS 31.JOINT SERVICE
DEÄRDA”.
EASTERN
"KANKIN”
from Bombas
Coch
Megaport
one at Dot.”
Tamils:- 2nd Nov, før Japais
Let NOT. :from_Japen salls and Nor. «for Sport, Pt. Bysten.
ALIAN 5.5. CO., LTD.
the gente, & the reste de millog ura subject,
Tạo fet me paduri oppiv ta
TALKENZIE & eh DevP ROND !!!.
to be handicap rather than nei» i volumna wwal 200,000 pliavos,