THE CHINA MAIL,
WEDNESDAY, OCTOBER 31, 1956,
Page:
TRADE and
COMMERCE
Australian Stevedoring Costs
Inquiry
LINER TRADE
A MONOPOLY
Canberra, Oct. 30.
HONGKONG London Sellers
STOCK EXCHANGE
(From Our Correspondent)
Ко
this
To
Unable Find Buyers
London, Oct. 30.
SECTION
US GENERAL
IMPORTS
Washington, Oct. 30. The Census Bureau to” day estimated "that" United States general: Imports during September totalled about $1,912,000,000, aibritty Jess than August toml of $1,049,000,000.
The Bureau preliminary estiriate is nasally within: 2.5 per cent of the finst figure when all statistics are compiled. Walted PTCEL
WALL STREET RECOVERS FROM SHOCK
New York, Oct. 30.
Stocks, the wind knocked out of them by yesterday's news of the invasion of Egypt by Israeli troops, recovered equilibrium today.
Business done on the Hong- The Stock Exchange suffered a severe slump morning mounted to approxi- today within its first half hour for many people New York Sugar Britain and France will occupy A committee inquiry report Oll mately $243,000. Noon quota were in a rush to sell and very few were willing to
buy. Australian stevedoring costs presented
in Parliament
the says
ultimate
determining factor of overseas shipowners
Stock Exchange
sabel the munity's irans.. itlons
Buyers Sellers
Bales
1324
240
Share BANKH
Kast Ana INSURANCES
in settling freight rates is "what the G traffic will bear."
the
The report Juh That ship- owners engaged *ነ
A- tralia-Brilalt-Continental liner trade, viewed as a group, bad the
- in effect 2 monopoly
traile
added flint there had
not been a strong organisation among the Australian
trumpin M, Scrape akampistest- were pussed back as rebates
cheol, who in most cases were alse proprietors, befor the inal bet figure was settled.
Was
Major Deficit
ל.
Wheelock
X All
ጳ ዝ
Sol
KS, ETC
K What
Dock Provident
42.
44
35
LAND, E
IK
1420
24 14.00
1th and
Belly XD
140
KUBBER
Ande
120 $7,000...
Tru1
300
105 2000
UTILITIES
231
304
Tram Yancienty
shippers The report stated that Ausras proximately AL100
* L 24 20 24 inillo oyeur. This was paid 12g INT nimost entirely to shipping com- panies domiciled abroad are as such represented a major dele." item in Australia's overseas has lance of payments position.
to negotiate with the shipowne i fa's averaus freight corringe bill
The xinwners had a fuels relating to the profils murde the Anglo-Australian trade. but only great facts connected with mevement and costs.
This had restricted the field argument of Australian shippera
cost movements only.
One-Third
The report sunt fort stevedor- ing costs incurred by hups run- ning between Australian Con- tinental and Brilish porta дорого presented about one-third of tom total vayege rate of ship, en-
In Australian Raped trade.
Stevedoring custs had risen by 100 per cent in the past eight yoors in this trade and in Aus- trallan inter-State shipple," The net profits of alevraboring panies in Australian port
gether with rebates returned by the shipping
companies
Maran M Tel: (01
INDUSTRIALS
200 100 500424-15)
134 30
700 30,
21.30
300
#20
30
24 10
2400 241
Pent
37
20027
STOLS, ETC
Wils
11 CO
14 Bu
500 12 14.50
100 14.00
023 40 1440
(143
POSITIONEN Textile
+
4 244
INVESTMENTH
Allwel
G 10
-4 יד
Mr Harold Hot, the Austry- Han Minister of Ladun, Heated the report to the Harr of Representatives he p Maut Sperit
London Foreign Exchange
Ang Fales ww
York Montreal
A me?
↓ to...
2784-270-10 26/10 (1/16
1.19 ba 199 £75. 1034, -19 347, 11-11 04. 1732-4753
LONDON METAL
PRICES
London, Oel. 30. of metals closed today
i sterling "per leng ton as foi. lown:
The st.
1-month
Copper spel
3-month
015 DIT
to-
1
vers melior $50
knhage
Frankfurt
Milan Port
Youth
207
2801 287
RUTA
110 11
Jan
ZH 200
not
A were unchanged
half Det
Jon.
11545 170 101
91
the net profits 1-ßected
the
Vruled Hress
crrased by 493 per cent, the re- port revealed.
The report sold that
1447+14 409 1222-12,221.
A reflection of
good taste
BORN 1820
STILL GOING
STRONG
Johnnie Walker
FINE OLD SCOTCH WHISKY
Sols Distributors
OKI MACONEGÓR
Leatt 2nd half Get
A582 United Press.
down
Bluc
chip but
were industrials ide
Rolls-Royce fell 2 Courtauld Unilever shillings, and several others were down a stilling.
In most cases prices remain- 3s 6d and Anglo-Egyptan "B" cd down ull day, closing at 2s fd Suez Canal fell 21% to The British Bank of ^ 06 ዓ. their lowest levels.
British
now the Middle East and the Nation- Governments. faced with increased national al Bank of Egypt both lost expenditures to be fanmeed by shilling. Treasury bills, were weak. War Long at one time wCK to £80, its lowest in history, but it closed at £00% with a tre las of Bs 9d; Old Connois
both lost and! "Daltons" shillings.
O Were pressed for sale, Royal Dutch Jost £11⁄2 to £79 while British Petroleum tumbled 7 shillings, Shell 4s 6d, Burmah
WORLD
COTTON MARKETS
New York, Oct. 30.
now
10
German suffered an exodvus with 7% per cent Potasit non- Lie assen!ed down! 23% and parented down £2; the 6%1⁄2 per cents, non-assented, lost £3.
East Europeans were unsul- able and were down about £1 sterling.
Japanese were completely motionless.
On the whole, a market with-
out any spirit --United Press,
בית!
Market
New York, Oct. 30. World No. 4 sugar futures to day closed to 3 points higher with acles of 195 contracts,
Domestle No. 0 ugar futures closed unchanged to 2 pots higher with sales of 12 tracts.
cun-
Firmness reflected the generi five in commodity markets and Blability of the raw situation. Futures:
Contract No. 4 (world)
March
3.35
May
July
September
Boot.(cente
• fob
Cubo
3.37
1.13
Contract No. 8
March
5.55-59
May July
8.00
September
Spot-(cents per ib. cif NY
ex-duty)
5.04 8.00
0,00 -United Press.
Wheelock's Meeting
(Cont. from Page 81
bew
more
Cotton futures trading
55% of the Company's Lestred flattened out today
fol- management is seeking work to capital. We are considering a course of action designed to towing a short-lived open-in the gap.
MERCHANDISING: Shewan overcome the unfortunate Im-- ing rush of activity. Prices Tomes has made progress under passe which is having its effect
with moved irregularly
arrangements fore upon the development of the das Company itself as well as easing shadowed last year but months nearby while
held remains to be dona Cornce & upon the interests of its share- crop
ilyholders. Co
Ltd. continue satisfactorily
Comparing the figures in the steady.
their general activities in Japan.
Consolidated Balance Sheet you FINANCE: Commercial 1n-
under its will see little change in the fixed vestment Co. Ltd.
assets whilst as regards invest- Mr P. G. Managing Director,
ments the reduction in the total ot Caleina, with the assistance
hard- of those unquoted is principally Mr P. Y. Zee and their
thue to
item One substantial working staff has had a
most having become quoted during successful
year, and is now the year.
This-Stém-and-firther firmly established in the fore-
acquisitions, largely abroad, front of their business,
accounts for the incrense of
At the opening the let ruled 11 lower to 14 points higher Opening prices were off 5 to up
New Orleans closed i 10 points. off 10 to up 10 points.
development Trucll-Egyption
calmer in ย sentimem following Monday's late burst of covering and trade buying on the news,
viewed
here
over Our
Habilities to
maricel
Prices steadied offer early dealings, when Rome experie concluded that the Middle East crisis would be settled ROOD. when it was announced
the Suez Canal zone in 12 hours the market promptly reacted with oils in a spurt, especially the Middle East chief benef claries of demand, with gains ranging over a point in Gulf and Getty, nearly a point in Royal Dutch, Wilcox Oll stood out with a-point run-up. Continental lost 2 points. Standard of Cali- fornia nearly a point,
Uncertainty
were
There WOR much uncertainty a
the 1st, however. apparent Its and
balance prices on somewhat lower, although there was no particular pressure to the selling.
Industrial average closed 0.47 lower, rails of 0.72. A gain of A point in Peoples Gas helped utilities rise 0.07. Of a total 1,110 isuses traded, 555 were lower, 322 higher on the day.
Turnover
dropped
WORLD RUBBER MARKETS
New York, Oct. 30. The No. 1 Rɛɛ rubber futures contrnet today closed 70 points higher
of 22 con- with rates tracts.
Dec.
36.00 The rex contract closed 40 to 75 points higher with sales of 374 contracts.
Nov.
Jan.
Mar
May
July
Sept.
Nov.
4,80
Standard contract closed 50
to 75 points higher with sales of five contracts,
Dec.
30.70
Mar
34.20
May
33.00
July
33.10
Sept.
02.00
23.10
Nov
Speculative activily stirred on the termino) market reflected the strength at London and growing In the Middle East, with attes- sharply dant
uncertainties relating to
from yesterday's level-10 1-the Suez Canal and the over- $30,000 shares from 2,420,000.
hanging throat of a dock workers
Steels hatt
a good shore in the features. Ladens stood outstrike at home. with a 3-point rise, Bethlehem and US Steel armed,
Shipbuilding shares strong.
Dow-Jones closing today were as follows:
30 Industriais
20 rails
1
uities
3 stocka
40 bonds
ac-
Commission
houses, dealer interests and
other trade counts were on the buying side, were with scale-up
Calising and hedging supplying the contract, averages Proft-taking by
early
buyers whittled extreme gains at the
486.47
100,70
Gallment
olierings were ro
171.00
Comm, future prive 164,13 (1956 high) Comm. spot price Index Moody's Index
Closing Prices
Allied Chemical Allis Chalmers. American Metal American melting American Tel & To American Tob. "B" Anaconda Copper Baltimore & Ohio
Bethlehem_Bigel
in paene 1. Chrysler Motors Consolidated Edison
Motor
Operating Fully nearly two millions in the quoted Experts reasoned that as far
section and there has been a as raw collon exports are con-
AVIATION: Far East Aviation | further increase cerned, the situation would not
Ltd. and Far East Flying Train-values. It does not include the affeci cotton to any great ex-
ing School are operating as fully additional holdings in Textile tent. It could disrupt the move-
cotton out of Egypt, and as circumstances permit but are Corporation referred to earlier ment of colt
with
unlikely to resume business on which wore not acquired until interfere willi
trading
reasonable senje until the after the close of our year. India, which factors might be
In the current assets the in- Cuban Amer, Sugar Dupont de Nemours more influential on the Liver- conflict of interests in the Far
East comes closer to being re-creased amount due from sub-etman Kodak pool market, traders figured. Leading
sidiary companies represented General Electric spot interests were solved,
December WAREHOUSING & TRANS- their current temporary financing General Foods sellors of the
nearby delivery, presumably ilquidation FORTATION: We have aban- requirements whilst there was a General M
doned our interests in China, reduction in the amounts due Goodyear Tyre
Int'l Business Machines against spot cottom purchases,
from associated companies as a The certificated stock remain-handing
Asufts and resuit of their reduced needs at Int'l Harvester Government-
International Nickel ed at 2,683 bales.
NI | the time.
Int'l Tel & Tel The Government weekly sponsored Corporation. It might
shipping loans (Japan) Kennecott Copper The weather report was favourable have been possible to have done have been reduced
by 16 mil-Lackheed Aircraft
Loewn Incorp, bal hud little market reaction. 30 sooner but our Towage and Picking of the remainder of the Lighterage business was establons and since the end of our Lone Star Cement Co.
amount of six | Motilgomery Ward advanced rapidly in the lished in Shanghai more than year a further crop
and a half million has been re- National Cach Reg. * century
National Lead In Texas, picking main belt.
o whilst the con
ceived Other advances against New York Central in siderable development of our ship and ginning is at a prak
ships have increased by over 30 ous Elevators irrigated northern and north- prewar years had built up a western sections. In Oldahama, business with such substantiat millions and since the Accounts Pacific Gas & Elec.
Paramount Pictures picking in about 70 per otat asscis that it was difficult to were made up, there have been an American Airways
further substantial advances and Radio Corporation complete and about 25 per cent make the Aral decision. We commitments. The reduction Republic Steel complete in Arizona.
1) Sclair Oil for the Fleet in the figurn Volume Open Interen had been fortunate for some demands years inasmuch as the
settlement of
our any Mobilo
Standard Brands made upon us were email but due to the
for the loss of Buf. Standard Ol of during the last year they had claim increased in size and tempo and Nigelock. The Fleet now con-tandard Oil of Ind. Standard Cl of NJ single vessel, 9.58ludebaker-Packard Corp. rather than yield to them and sisty of a cmbark upon
Hydralock. programme of
Satisfactory 68,600 1,300,200 bales heavy remittances it NEW YORK
decided to submit to
The process is so Current Liabilities and pro- United Aircraft familiar to you all that there is visions show substantial in-US. Gypsum
US. Rübber and US. Smelting 13.02-83 no need to give detail, but after creares in bank overdraft
some months of negotiations and amounts due to associated com- U.S. Stoel
panies, both of which have de-Warmer Bros.
The Westinghouse Electric tho creased significantly since end of our year. Sundry Cre-Woolworth ditors and Provision
millions two
after approaching arrived in Hong-
augmented by a having been further two million from Frofit and Loss Account, It includes part of the profit on the sale
ге of ships which has been tained until the Ibans and ad- vances in connection therewith have been sellled..
December
Mont
March
May
July
October
December
March
10,000 11208 17.00 3455.00
307,000
412,200
9,000
106,700
10,400
117,100
2,300
U9.200
300
13,200
Total
Prices of futures closed today
us follows:
pressure.
Spot
24.450
December
March:
33.02
34.00
July
33.68
October
12.97
December
32.00
March
32.97
NEW ORLEANS
May
De follows:
Spot
December
March
May
Julp
24.07
was
the
after all our property had, been handed over as an offact to our "Habilltics"
our Manager, In Mr J. S. Hoot, an
Shang received their Exit Contingencies shows a reduction
bis
Prices of futures closed today Permits And
kong in June.
A long chapter in our history has thus closed and your Board Is satisfied that whatever the future of trade with China may be-and we are ourselves not at present interested in that activity
tho day's
ys of trading in China Future closings, in pence perjare over for concerns suc
such as 1b. were as follows:
our own. Old contract Det/Nov.
October
December Marchi
LIVERPOOL
Dec/Jan
Mar/Apr.
May/June
J07/Aug
23.07 25.47.
no
From the Profit and Loss AC- count you will see increases in So far as our Accounts are the Trading Profits item and the 232 concerned we had written our wholly satisfactory profit of $5,200,000 on the sale of ships, 2503 Shanghai assets down to
a substantial part of which re 247minal figures and our two
founding
Victoria prosents prodi now released Compatie
& Lighter Co. respect of transactions effected 29.25ing
and G. E. Marden & Co. In previous years. The incrense Ltd. are 100.00
inactive. We shall in management and general ex-
ponses, la mainly
accounted for hope to revive them either in
by an increase in commission Futures closings, in, cruzeiros the Colony or lowhere, per klo were as follows:
New contract Oct/Nov
Dec/Jan.
Mar/Apr.
May/June
July/Aug
BÃO PAULO
| Egyptian Kaynak Nov/Dec
•Now.
180.
Mar.
May
July
Oct.
price
was
unavaliable,
Increased
concern
whilst Bank interest is Batez e
"dollars
himser. The sum of two y
beari been provided
"amount, In
respect
unquoted 37.00 unquoted Matters of interest 25.0
of the ing our associated companies in contingence Iscluding en 3896clude the raising of capital by four on
Jonson umber operations In
Erwitt & Co.
Texas Co.
Union Carbide
Union Pacific Railway
168,00 418.10
moderate and high-priced. discretionary offerings were reported, but little actual Consumer business developed. interest in the delivered market remained on the sidelines. Spot No. 1 Rss was quoted nominally 34% cents.
SINGAPORE
The market opened frm on trade buying on overseas orders. 52xd After slight reaction on prófif-
taking, the
market
ogain advanced on Middle East news.
3134
27
167
75%
012
3335
There was some forward buy-
10ing and a good demand for low
7 grades Factories were Inactive.
Futures:
ป
No. 1 rubber per ib. Nov. 08%%~98836
07 No. 2 rubber per ib. Nov. 907\ 401 No.
4 spot rubbor unbated
Dec. 03-0841
Jan. unguetext
96-9632
02-021
0634-05
79-61
110-131
4016 No. 4
20 Blanket crepe...
LONDON
475 No. 1 pale crepe
The market was easier after
17strong with spot
at
1004
quoted
63% 30 1/18 pence per lb.
20
No. 1 Ras spot
Prices:
2013034
00
Settlement house term:
41
Dec.
30-301%
Jam Mar.
30-3014
514
Apt/June
2013-209%
July/Sept.
2016-20
General markets, etf bani, ports:
4831
Nov
2035-2004
Dec.
299-2055
Jan.
2014-201
37
Estate arepe thin Dec.
$4
.thick
unquoted
100%
3xd
30%
46
AMSTERDAM
The market was very Arm. Prices closed in guilds per 875 kilogram, eif Nov. as follows:
6036
No.
rubber
No. 3 rubber
AZY
No. 3 rubber
474 No. 1 crepo
£1495
United Press.
28 paid
2.83 padd
2.78 buyers 3.40 paid
United Frogs.
NAMESAKES
Answers: -- 1 Britons, Romans, 3 Chariot, 4 Defoat, 5 Victory, @ Forces, 7 Queen, 8 Baltic.
Boadicea.
P.O
R.M.S. "CARTHAGE"
SAILS:
NOTICE TO PASSENGERS
·BAGGAGE:
Thursday, 1st November, at 12.00- Noon for the "UNITED KINGDOM, via Singapore, Penang, Colombo, Aden and Port Said,
Passengers are requested to send ALL
·BAGGAGE ~ to the Hongkong ot Kowloon Wharf Co's Godown No. +2 GATE, CANTON ROAD ENTRANCE, By Noon on Wednesday, 81st October":
Ootive is the average spot the Textile Corportion of Hong- Sarawak indicated to you last SPECIAL NOTE: With the exception of hand packages
operations in Singa Sales kong as a result of which our year and of opers totalled 05,324 bales-United own Investment in the concern pore. There are sundry ad-
increnating Herom which ⠀
【plariator)
on-the
·no, speci
*Press.
#boen men facturing (Hold= {mal"
hoo
Leigh
to
Exchange Rates Bo
"changod la nume Marden, Lok, BROCK (continued; 4
to expand. - plani Alded :: Investors hasly again
Tafance
carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's eling only
Passengers - should ́embark betwee 9.30 and 11.00%n.m; on Thursday, “lat
aber 1956%
ration with or without notice