TRADE and
THE CHINA MAIL, THURSDAY, NOVEMBER 1, 1956.
COMMERCE
Canada's Unfavourable In Commodity Trade CHARACTERISTIC OF GREAT
Unfavourable Balance Creole. Petrofeum
EXPANSION AND PROSPERITY SAY OFFICIALS
UK Government showing so heavily
Bonds Take Pounding
London, Oct. 31.
British Governments took reminiscent, of some of the
a severo pounding today,
"black days" they suffered during the Korean war.
At the time, during the votir - pletely pessimistic Torn,
down 14s
War Loan Wan
, the lowest it has ever later bargain hunters 2x:41s;
at the It al went in after close it was down only 5
Ju- Ta-
Among the 16% ringed from £
£ Co ster.ing
mactive dustriais eidentally. The turnover of the whole market, et 7,875 bargains recorded, was the lowest this
month.
Olls were erralle with small Kains Bild {U' defying
saharysit
bruch
***
Win
Ottawa, Oct. 31.
an
Canada's commodity trade in 1956 is unfavourable balance as to attract widespread attention, though government spokesmen emphasise such a lack of balance is characteristic in periods of great expansion and prosperity.
Coal Will Have
No Competition
Washington, Oct. 31.
Two experts predicted to- day that the coal industry will have no competition from nuclear energy for al least 20 years.
Art
fact, the application of elem vergy may even add to the demand for cool, the experts sulla paper prepared for
way solid fuels enterener.
The paper
was prepared by
វ C Dalzell, Chief of the reactor development division of the Alte sergy Commission,
الة
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business done on the long- kong Stock Exchange Uzia morning amounted to approxim- utely $330,000. Neon quotations and the morning's transactions:
Huyers Melters
Khaces DANKS
INSURANCEs
Union
1.ombard SHIPPING
Wrecks
DOCKS, ETC. K. Wharf Ixock Provident
For the fire; eight months of the year, Canada bought LAND ETC.
HK Hotel 644,000,000 rtollar's (nbotiik Land
£215,000,000 sterling) worth hum more of goods than she sold RUBBER
Amate abroad. Last year, for the saune
UTILITIES community drade Yaumati The wuly 204,000,000 dollars Light to I BALO00,000 sterilng),
defeld
WHA
US Capital
Electric
Telenbone
101 INI INDUSTRIALS L'ement
However, The unfavourable balance with the United States heavier, $13,000,000 VCH
£305,000,000) as folia tover
at 551,000.000 dollars (about STORES, ETC. 1190,000,000) a year ago,
DRUS Watson
The difference is largely being ¦ made up by importing capital, | COTTONS mostly American, from abroad, lavourable
since
Conda's
even
TextHe
+
Bates
1620
970
10 100
090 g 42
6.50 4,00 0000 0.00 1000 6.68
00
100 m 90
Expansion
New York, Oct. 31. Creole Petroleum Co han kattached a' $15 million expantion programme alm- Ed at boosting ita refining capacity in Vriezels, fi Was' announced here to- dar by Foster Wheeler
30
2
Foster..Wheeler, mið 鳥 has reotivea
contract froen Creole for the design and construction of new
Brude distillation facill.
ties which will boost crude charging capacity to ap. proximately 400,000 bar. rela day, It also will
17,000 build
barrels day hydrogenation anil.... United Press.
WORLD
RUBBER
MARKETS
SECTION
New York, Oct. 81. The No. 1 Res rubber futures contract today closed 40 points higher with sales of 47 contracts.
Dec.
ntract closed 40 to 70 pana Hex contract higher with sales of 305 contracts.
30.00
30,40
TWO BILLION SLASH IN
WALL
STREET
New York, Oct. 31.
Some 2 billion was slashed from stock values today in the wildest break since June 8, with mar- ket action keyed to news from the Middle East,
The heaviest selling CASTO In Industrials the oils, parti- cularly those with Middle East Interest for the stools, metals and chemical--and the average for that group was down 4.62 pointo nej although above the day's lows as the result of A late firming action.
It
was
Paramount Pictures Parke Davis Co. Ponny J: C. Co Penn. Sall Co. Procter & Gamble Co. Pittsburgh Pluto Gluan Badlo Corporation Republic Steel Reynolds Metal Sinclair Of
Sony Mobilet) .... Steep Rock (Toruntoex. Į Standard Brands
the sharpest break | Standard Oll of Cal since June 8, when the market Standard On of Ind Standard Oil of NJ slumped on news of President steping Drug Co. Eisenhower's attack of lettis. Stokely-Van Camp Ralls, off 2.85 on average, md Studebaker-Packard Corp. their sharpest 1063 sinco October 1,
And
utilities
Bwit B Ou Texon Co. wern Union Carbide
down 0.24. of a total 1,169 Union Pacific Stallway issues traded, 800 were lower United Aircraft
UB. Foff-B while only 126 managed to ad- US, Gypsum vance and 175 held unchanged | VS. Line Co.
US. Rubber on the day.
UA. Emelting The pattern of activity mir-8. Steel
Wamer Bros. rored the news dispatches on Westinghouse iccirie
Woolworth
the Istoell-Egyptian crisis.
Sales Spurt
BU
11310
14.80
03
19.30
1.50
103
23:0
23+
500 m 23.00
2009 23,20
2000 op 23.40
201
20
100 301
500 or 20.00
D00 20,80
300 u 20.30
24
252 24
Mer
34.00
30 73 1 se hell,
May
54.40
100 @ 30
July
3300
500 G 28%
Sept
33.10
Second tour sales spurted 640,000, biggest in months, reporting tickers rear late prices were slashed when Ush Prime Minister Sir Anthony Eden refused to tell House
As and Bri
of
Nov,
32,00
11.00 12.20 12.00 1000 1
Standard content closed 40 to 74 points higher with on sales
ĐẢO 1200
Dea
30,15
000 12.00
Mar
24.05
Moy
34,20
1000 4,10
July
33.50
sept. Nov
33.00
32.30
Nov.
الدلي
38.30
Speculative buying interest
matters up before World War II. CHICAGO GRAIN and "scare covering broadened
is 16 longer anything like large enough to balance the sheet.
n lntry Perry, chief of Bitu-bulance of trade with the steel-
As Cont Research for the ing area. which used to US Burem of Mines. Royal
The who have to plan now heavily sold at one tune and
1975
mining, handling lost 10s but at The chee it
Per supplyg, ele, cats ignore the im- down only 5. Brilishi
went ex-dividend part of nuclear energy," the letto, which
It said that in 10 years such nuclear energy ap- gaaldeution of plation as the
of way "be actually adding to The goal demand.
to buy, clowed
sixpence and Burmah
и как от with one
of a shilling. Suez Cand seem-
urgently
ed
wanted and
rose
£1 to £00%.—United Press
LONDON SILVER PRICES
London, Oct. 31. The price of silver touched a new portwiu penk today. Spot was quoted at Bi pence and for- ward 80% pence.--United Press,
The most promising early usts [ nuclear energy." the paper suid; "appear to be in power generation, space heating. i process healing and propulsion
of large velucits.”
The indications are that for the next 20 years the greatest of nuclear fuel will be on the fossil fuel markets for power genera- 11on, the
per sald.-United Press,
Middle East Tension
Activates
New York Cotton
New York, Oct. 31.
to
In the first eight months of! the year. Canada's exports Britain exceeded imper's from her by 189,000,000 dollars (over 03,000,000), down from last year's marg!! of 252,000,000 dollars (over £84,000,000),
PRICES
Chicago, Ort. 31 Prices per bushel in cents:
Closing prices
לות2
Wheat, No. 2, red
Spot Dec. 239%(3) 2353%(L) 2371-N Mar. May July
Sep
Corn, No. 2, rollew
Spot
11gr.
Mar Ma
Actually, this "narrowing of the gap" in British-Canadian trade has been welcomed here since it includes an increase in British sales to
Canada from 282,000,000
dollars
(about £87,400,000) to 327,000,000
£108,000,000), July and it is generally recognised that Britain can anly Increase purchases from Canada If she increases her sales
this market.
dollars
(about
Sept. Rye
Dee.
132-132!,
(391%
14712
14815
14015
100%
Mo
1042-160
Dec. Mor Soybeans, No. 2, yellow
044-45
Spot
Now
Juri
Mar.
: 26,000,000
During the eight months, Conuda's favourable committy balance with the rest of
the Commonwealth amounted 10 (about
May
July
3440 2014-1 2341% 2003 20042-14 2001%
Barley
sal..
New York flour
dollars
200 lb. rack
130-1450
$13.30
£8,700,000).
Consumer Goods
WINNIPEG GRAIN PRICES
Prices of grain futures closed
White part of Cannula's im-
lukes the
•ports
form of consumer goods, which help to today i keep down prices and prevent follows:
inflation,
ed by news of the Anglo-French attack on Egyptian military targets, brought an active buy-s clearly buliding up
ing and covering movement in cotton futures to day.
on
18
terminal market Lic traders became increasingly ap- prehensive in face of mounting tension in the Middle East with through
1970
threat to attendan movement of supplie the Suez Canal.
Far
the
40
United Press.
CHICAGO LARD
FUTURES
Chicago, Oct. 31.
Prices of lard
futures closed
Commons what action Beitela today in cents per 16. as follows:
Nov.
TARDE
Dee.
Just.
and Frauge planned in Egypt, although he said they standing Arm in their deter mination to send troops into the Canal zone.
Third hour turnover fell to
a mere 240,000 charts and pries held around earlier lows as the Street waited further word.
Mar.
May
11.70
13.42
13.00
13.80-70 14.20
-United Prean.
NAMESAKES Answer:-- Lahore, 2 Jungle, Official confirmation of Anglo-3 Editor, 4 Bombay. 5 Journal French bombing of Egypt sent Ist, & Stories, 7 Devon, 8 Stalky, prices to the day's lows in the
Inventions. 10 Pook's, 11 fourth hour with sales increasing Novels, 13 Kim, 13 Captains. 14
There was only slight Courageous. ogala
before the
Rudyard Kipling. from the firming apparent Shipment offerings
East were reported close, representing some bargain moderate and too expensive 10 hunting.
buyers. intmask- local ..., „tradë
Turnover ht, 2,280,000 shares taran 450,000 shares ahead Receivers Agured Singapore bo..ranging about 14 cent @yesterday. pound over a New York parity. Spot No. 1 was quoted nominally 25 cents a pound,
Despite strength in Adures, consumer buying remained small users evidently felt assured over supplies in tace of the govern- ment stockpile cushion and anthetic production facilities.
The
SINGAPORE
marker opened very It steady on short covering. closed around the best of the an active market. day after There was Rome fair business for low grades in the morning but buyers could not follow the advance in the afternoon.
Future cloudings, in Straits
in cents per bushet as per lb, fob Mulayan ports, were
140
Es follows:
Ban rubber Nov. No. 3 Ris rubber Nov.
Its
rubber Nov. Spot rubber undated ....
of
Individual Jonses ranged to 82 jending or $8 points in most groups. In hard hit oils, Guil and Royal Dutch were off more than 2 cach, Cities Service and Texas Co, close to two points.
US Stoel was the day's most active issue, followed by Jersey Standard nd Royal Dutch.
Losses of a point or во пр peared la United and Lockheed the aircrafts, Bath Iron Works and Newport News in the shipbuilders.
in
New York Stock Exchange band volume was $3,540,000.
American
Page
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to
EUROPE
and the
USA
For reservations,
call ywer travel agent or Alexandra House, Phone 37031, Hong Kong. Peninsula Hotel,
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THE BURGESS STORY
Should the POST-HERALD
print it?
THE Foreign Office has requested an interview with Mr Tom Driberg to tearn from him the details of his Stock Exchange extraordinary meetings in Moscow with Guy Burgess.
volume was 830,000 shares.
Dow-Jancs closing were:
30 industriais
29 rails
105-106 18 utiltiem
104-1050
unquotert 40
tocke
bonds
102-103 Comm. future price index 100-101 Cortam, spot price index
Moody's Indric
_DS
10036-30U3C 977-5 124-125
averages
$79.336
155,93
06.20
109.02
D1.35
105.79
107.
420.00
Closing Prices
01
Mounting tension in the Middle East heighten-corsists of capital gooda design-
ed
resoureta.
proportion
develop 10
Canadian Thus, while Canada foreign Imports, debt through capital she is also accumulating the plant and machinery with which
large
Date
Oct.
03
Ne. JB rubber
Des
ROVA
Nov.
Mar
80
Doc.
July
78,
No. 2
(Lyo
Oc
142
No. 4
Dec.
144
May
104
Blanket grepe
Jub
No, i pale czepe
to pay for it hereafter.-China Barley Mail Special.
Del.
100%
Dec.
10314
May
10432
July Flaxseed
107
Allied Chemicals
14
31
New York Sugar Market
Del.
301
Dec.
204
May
2914
firm with spot quoted at 31 pence. Prices;
Alled Me Ino,
Allis Chalmers
American Cyanamide Co. Amer. Forn, Power
สา
J
Colted Press,
No. 1 sapot........ 3036-3115 Settlement home termi
American Metal .....
2001%
Doc.
2014-11
74
Jan/Mor.
30%-30%
Apr./June
After hesttarit start, trading
dawilled for a time, then spuri-
NEW YORK
cd in mid-afternoon as traders). Prices of futures closed today appraised the trend of military as follows
events in Europe and the
Middle East.
New crop deliveries led the upswing. deriving sdditional momentum on the upswing from the expected impact of the soll bark on next year's production.
Sust
Dev
Mar
May
July
Oct
Dec,
Mor
NEW ORLEANS
54.4511
33.09
HBO
34.21
33.00
33.28-29
33.20
3322
World
New York, Oct. 31.
No 1 Jugor
futures
closed 4 to 6 cends higher with First Convair
saics of 542 contracts.
Domestic No 6 sugar futures
Prices of futures closed today closed
After scoring ; goins up tả] - $2.60 a bale, the market drop ped back at the close under day trader realising hedge selling. However, the list still showed net gains of 3 to 32, points. Opening prices were off 3 to up 11 pointa, New Orleans closed up 12 to 31 points.
and increased as follows:
In
expansion
With the current
exporte, and the expected: cut-down in production, statis ticians figured the supply- demand situation, would be in
close balance next year.
Nearby deliveries logged,
persistent small
flecting
hedge.pelling andspot
offerings in the
Spot Dec.
Jetliner For TWA
Kansas City, Oct. 31.
TWA will receive its first Convair 880 jetliner in Novem-
LONDON
The market was casier after
Oct / Doc.
2011-20 28-39
General, markets, cif bani, ports:
Now,
Doc.
Jen.
Esiste crepe
than Nov. thick
50-30 2711-3010 2018-301%
30%
AMSTERDAM
The market was quiet after
ber, 1959, according to the pro- Armi; Prices closed today in duction plans presently sche-gulder per kilogram, elf Nov, duled by the manufacturer, as follows:
No. 1 rubber
TWA's 680 will be the fifth No. 1 rubber 341 jetilner built by Convair, mem- No. 8, rubber 342 bers of the Kansas City Maniago- | No. 1. crepe 3.25 ment Club were told on Tuesday
3.42
33.30
higher tracts,
unchanged to 1 point with sales of 200 con-
13.03
Mar
Large scale
May
34.10
certainties,
July
33.04
33.30
Deo. Mar
33.20
especially in Middle East, found sellers creasingly reserved in the world.
commission ut- the m-
13.20
contract.
LIVERPOOL
Contract No. 4,8
Fu ure closings, in pence per May. Ib, were as follows:
Mar.
July
1.30
Sept.
23.50
2535
25.20-24
24.95
May
2400
Fuly
DAG
Sept
24.99
Nov.
BAT
20.00
Spot-cente per lb.
20 60
ex-duty)
6.99
25.40
the July/Aug
25.10
Nov./Doo
00,00
SAO PAULO
ing
house
December do.
livery around the 33.85 cents
level.
to
Oht contract
Oct/Nov. DoJan. Mar/Apr. May/June
July/Aug. New..contract
Oct/Nov. Dec/Jan.
Mar/Apr.
Transferring from December May/Juno
March-May-July' at
widening differences provided | Kaypfian Kamaic
another trading feature.
:
The corticated stock re-
mained at 2,688 balen,
Morih
All futures trading was un-
Spot-cents per ib. fob Cuba)
Contract No. &
night by B. F. Coggan, division manogen for Convair in Ban 5.00 Diego.
LONDON METAL
PRICES
Alden for. Acy.
American melting
American Tel & Tel American Tob, "B" Anabonda Copper Armco Steel...... Atlan Cone. Mining Benguet Cons Bethlehem Stoel Borden (The) Co. Burroughs Add Machine Canadian Pacifia.R. Came (1) Co. C.I. T. Iinancial Corp. Chrysler Motors save Chmax Molybdenum
Colgate-Palmolive Co. Commercial Credit Commonwealth, Eloc. Consolidated Edison Continental Oil of bei. Cane 100. 17.... Chan Amer. Bugar
Diamond Alka KE Kuport de. Nemoure Eastman Kodak 1.30 paid 21 Paso National Gins
17
United Press.
London Foreign
Exchange
Closing rates, London, Oct. 81. | Procs of metals closed today | Naw
Exchange Rales insteling per long for an
follows:
Volume Oper interest | quoted: - The market will be TXINZONE WIE done is the dopal | Tha
24,800 378,300 ||
123,000
1,000.
closed until Monday-hollän
In the US the:
price... › who... 23.18'
totalled. 77.
100)
Ping?
Oct. 31.
Ford Motor
General Electado
Gervere! Food
General Motors
Glidden. Do. Goodyear ro Hayden Chemical Ingersoll-mod Intacctronical Corp Int") Buskreem : Złachines
In T
International_Nicksal
John-Manville
KennonitTM Copper Läggett Meyers Tob, Co. Lockheed Asroraćt
paw Bler Cement Louisville»8: Nashville R,
Monsanto C
tion?"
to
The Foreign Office wants know. Yet the question is being asked: Should the Post-Herald print Mr. Driberg's story of Guy Burgess the first authoritative story of the flight to Moscow of the Mission Diplomate?
Some people are saying that Burgess i a traitor and that, therefore, anything he says should be ignored.
Even the B.B.C. "Any Ques
programme debated the problem: "Was it 'imprudent" for a British citizen to associate with Guy Burgess in Moscow?".
The Post-Herald's answer to all these points is simple: "IT'S NEWS.
It is five years since Burgess and Madean left England. Nearly 14% all that has been so far written about their case has been speculation. Only now has one of the two principals involved given bis version of what actually happened in this astonishing affair.
The story that Mr. Driberg has completed will prove absorbing to all shades of opinion.
As remarkable as the escape itself are the revelations of the influences which were at work before, during, and after the war in some of the most respected British institutions, including the B.B.C and the Foreign Office.
The Post-Herald has no sympathy with the activities of Guy Burgess or Donald Maclean.
The Post-Herald has no sympathy with the politics of Mr. Driberg.
But the Port-Herald fully agrees with Mr. George Scott, editor of the Right-Wing: weekly review Truth, who said on the "Any Questions?" programme: "As a journalist he [Mr. Driberg] has nothing but my envy for the story he has gained in Moscow, and I believe in it not just as a newspaper story, a scoop, or something
value to us like that, but something of the utmost
That explains precisely why the Post-Herald is enthusiastic about the Burgess story. The completed story will, total some 40,000 words. Each fact has been checked wherever possible, against-sho record. Each revelation is being compared with previously known history
A The final result, first instalment of which the Peg Herald will proudly publish next Sunday, will be-NEWS/LA
Make sure of your "Post-Herald" Next Sunday