TRADE
THE CHINA MAIL, THURSDAY, NOVEMBER", 8, 1956.
and
Shortage Of OUTLOOK IN AUSTRALIA
The
Rubber
Expected
forecast
Washington, Nov 7 Commerce Department i today that temporary
shortage of natural rubber may develop in December.
The reason i sindel,
Surcharge To Sudan
London, Nov. 7. The Liner Freight Rule Con- that, ferences in the outward
trade
shipments from the Far Eat to som fritain and the Continent
The United States diverted through The Canal.
The
Inure
being to Port Sudan deelded tonigh! to impose a 25 per cent
charge on cargoes to Port Sudan
A
- pokreti that the surcharge
said
→
Europe is Exp) +
The surcharge will coine Into nifested by the verờiling (effect on cargoes landing on and nway from the now-closed
Ite: Nuvember 8. Suez Canal and around Afrien than 3 The United States. European tariafareturers,
and use Rich may huy creased quantities to American synthetic rubber in November
ami beverber US mocks synthetic
#1
tonight TVAs neces- Mary because of the great devia- tion involved In going round
the Cope
were
described "well above nortual stil pre- Cuction is capable of convictea - alle Therense,“ - Ulanted. Thes
+
ki
No decision w Inward freight
Bri- coles from Port Sudan 10
and tapi
the Continent bad
b
tonight.- Jule MARTE hooop Mud Speelal
Wall Street Reaction To Ike
PROFIT-TAKING
FOLLOWS
INITIAL SPURT
New York, Nov. 7.
Wall Street response to President Eisen- hower's smashing victory was
an
initial sharp
spurt on late tickers followed by profit-taking on greatly reduced volume.
Initially, prices run up 2 and
the heaviest first
3 points on
hour trading since February 15 with Berks appearing in blocks ranging to 10,000 shares.
The
million-shire
toll for the nat 0142 tickers as much JAN four minutes behind Boxer transactions and kept them uing late or 30 minutes.
Ao
Mach
Awan Metal zd Am Sugar Ref American Tol & Tel Aneesan Tob "B" Anaranda Copper. Anneo Steel Attour
Atlas Cons. Minteg
less-Lin
Bairgaone & Ohio
22
100
744
772%
062
1714
201
Capital Formation Is One
Of Biggest Problems
Australia is not unique in its urgent need for capital. Scarcity of capital is a familiar feature, not only of the new countries of the world, like Australia, but also of the older countries, says the Australian and New Zealand Bank's October Survey. The United Kingdom and most of the Western European nations have all spent large sums in recent years on capital works of one kind or another, and the majority of them are continuing to spend heavily.
WORLD RUBBER MARKETS
New York, Nov. 7.
The No. Rss rubber future roadtact today closed 30 points kower with sales of 17 contracts
Der
34.30
The JUX contrael closed to points lowes to 16 points higher
with sales of 320 contructa,
Nov
المنال
Nov
Even in the US, where the race of capital formation is high, local require- ments make heavy demands upon available capital, and there seems no likelihood of these demands slackening in the foreseeable future. On the contrary, we can expect that the high rate of plant obsolescence and replacement arising from technological progress will make still greater demands for capital, in the United States particularly.
SECTION
Natural Rubber
Production
Weelington, Nov. 7.. Wort production uf natural rubber In Septem- her of Bifs year amounted to 14:10. lòng Lan, a drop of 25,000 tons from Beptember, 1935, 'The_tf8" Department of Commeres reported today.
Production for the first sine months of this year.... totalling 1,345,000° Tok was also down from sho 1,367,500 ions of the first
la 1955.- pine months United Press.
HONGKONG STOCK EXCHANGE
{Page 9
London Market Operators Cautious
London, Nov. 7.
Confusion over whether fighting actually had stopped in the Middle East brought caution to the Stock Exchange today with the only activity in the oll:group.
Tradera, who had notd oil } tharen short in hopes of buty-
ing them at bargain levels. New York Sugar
rushed to the group
hifitng
shares of Royal Duicli as much 6 £3. Smaller gains appeared in Anglo-Egyptian "B","British Petroleum, Shell and Burma
Industrialy
Market
New York, Nov. 7.
futures moved cautiously
4 sugar World No.
unchanged to 2 Except where American buying closed
was strong. Most leaders regisTM points lower with anics of 170 tered gains of about a shilling. contrnels,
Dollar stocks jumped 3 to 8 The domestic No.
points on the Eisenhower land- silde.
0
futures closed 1 point lower to
kugar In foreign bonds Hungarian point higher with sales of six
contracts, lestic held unchanged; some German
bonds were higher An improved view of the situr- and nearly all the Japanese tim in the Middle East brought liens were down.
realising deferred world do- British Government bonds liveries, while the domestic con- were idle and mostly unchanged. trnet marked time awaiting raw Business done on the Hong--United Press.
market developments. Futures: this Exchange morning nmounted to +4]=
(From Our Correspondent)
Stock
kong proximally $474,000. Noon CHICAGO GRAIN quotations
transactions:
Bhares
BANKS
MK Bank
and the morning's
Buyers Sellers
Biles
MARKET
1
Chicago, Nov Grain futures on the Board of 1010 Trade were about steady today, holding to within narrow landis during a very active trading.
Most contracts rallied just be- their low fore midday from 8.78 opening prices to about 1.39 with Monday's close. The lower start was attributed to reports that Poland would receive a 500 13.00 gift of a large quantity of wheat
from Russia
34.09 33.70
Mar
33.40-15
33.00
July
43.40
F-pil
31.70
Australia
31.25
Standard contract closed 10 points lower to 18 points higher with no sales reported.
Dee
34.05
national developinen!,
The outlook for Australian; must also be remembered that borrowing In International capital formation js closely capital market, is thus sol en related to inflation. couraging.
needs The hard fnet is that capital from overseas in sub-country, any more than an in- Individual, can make capital in- stantial quantities to assist maintaining a rupid
of vestments without saving. It porticu may be argued that
East Asia
1005 1620
244
N
រាជ
INBURANCIS Union
SHIPPING Wheelock
113
■
6.75 0.70
1000 or 1.35 1.40 300
DOCKS, ETC. saving. Whart..
Mar
33.30
May
32.10
July
32.23
$1
Nov
النا
4 טיו
DO arly heavy immigration, with within Australia will not be Dock
4332 441 1400 44 borrowing
ing Provident (0) 13.30 13.80 out imposing an undue burden necessary if outside
has and causing too much dislocaj can be arranged. But, as
LAND, ETC. low in the Australing, economy, j already been pointed out, there iİK imel ..
is not enough capital avaliable
HK Larid from oversea sources to make more than relatively Small Humphreys. contribution towards
The Home Front
nancing | RUNDER
*Tram
Yaumali
31.00 31.10 Termicul market operations Blacked
feature. speciai Deulers and other trade interests operated cautiously eith Way. pending new incentives.
In view of the shorlage of the large-scale developments) Amalg certainties
ddle East available capital throughout the projects which are going in the Middle
for- Trual 204, Altuation were restraining Western world, It would be wise word on such a wide front in UTILITIES
traders, Other traders awaited policy for Australia
to take Australia. scheduled meeting in Washing- advantage of
every possible
M capital at Fry The greater part previously opportunity to (21) tomorrow
oblain capital requirements must thus come reported proposals to lengthen on reasonable terms from over- from Australia's own resources. C. Light (0) 13.90 the tine
how it cannot be stressed too much c. Light (N) 23.20 23.60 for replacement of sea sources.
maller 191 rubber
under
individual secured
the mail the
amounts that
this - involves surving: ctele rolation plan from the stockpile. may appear to be.
Capital can only be accumulated Macao E. Capital formation is probably by forgoing current expendi Factory buyers are expected to press for a longer period, but
one of the biggest single prob- ture on consumption. This 19 dealers are expected to take the lems for Australia today, and it clear to Individual in his Tel. INI
overy 4614 opposite side.
or her own private affairs. The INDUSTRIALS same applies with les force Conent to the community as a
whole. Rope
the
40 Meanwhile, Inctory
Bents Aviation Corp.
60
run-
Bengal Cona
Bethetown Stee!
105
Beetog Airplanę
30
Kurden (Thiel C,
Front on
backed down,
Lacters
Burroughs Add Machine Lanadian Puriñe R Le Co I'l
10
14%
C
401
technicians
0214
facturers
24th
From the securni bowever.
palees stendily but slowly as operakuts turned to realising sette of Se galus which had piled anticipulsu
results
171
the
election A Threatas mesetve-
tion rally hand billion to not make
CORTIC
D
Market volumenintag sand the mike was performing true to form in selling since the election results brut been lagely discounted. They attributed the initial spurt to the wide margin of the President's victory.
Industrials Cut
The rendising, while sufficient ly heavy to cut industrials 4,22 on average and rails 1.34, did not reflect any pressure against the list as evidenced by volume.
Despite the heavy Brst hour,
for the day totalled turnover only 2,050,000 shares, compared with 2,830,000 on Monday.
Hardest hit
of
the
Jending groups were international oils which reflected news that it will take possibly three months to re- pair the Suez Canal damage Oult fell more than 2, Royal Dutch nearly
2, Standard California 2 points, Texas Co. o point.
of
Aircrafts and metals held the beat. In aircrafts, German rose nearly a point, Douglas Glenn Mortla more than cach,
Financial Corp Clure Mithaf Barsk Cinsi Motor c Ci Moly belzium Colante Patmolive Co Cormaretal Credit
Comniony vaith Elec. Convolutulva Edisoni Continental 421 of Theel. Line
Crown Zellerbach Cuban Anet Sugar Dianoat Alkahı
Dow Chernenk
Dupont de Nemours
Eastman Kodak
El Paso National Cas
Erie Radiroad
Ford Motor
General Electri
General FoodR General Mutora Gen. Pub Uti Getty Di
buying
124 in the delivered market re- mained slow. Some market thought manu- and "short"
were waiting for a buying opportuni-
402 13.
4746
Shipment Alterings were
10 moderate to good, particularly on
43
118 remil grades, brokers sold. Sixt
714%
No. 1 ss held at 34 cents a pound.
SINGAPORE
The market was steady today. There was some good trade sup-
[actory puri but
Interest was
small.
Future closings were: No. 1 rubber per Ib. Nov. クー
Dec. 1871-901 Jun. unquoted No. 2 rubber per ib. Nav.
Family Finance Corp.
50+
9
47 30%
18
No. 3
*
37
2016
No. 4
Blanket crepe No. pale trepe
03
LONDON
Glidden Co.
Goodrich (B. F) Cu Goodyear Tire Heyden Cheinteal Homstake Mining Ingersoli-tan
Inland Steel Co.
interchestral Corp. Intl Business Machines
Int'l Harvester International Nicket.. Inferrertional_Paper Int'l Tel & Tal John-Manville Co Kanvas C. Power & Light
Kemirolt Copper Lugott Meyers Tob. Co Lockheed Atrerofl Loews Incom. Lone Star Cement Co. Louisville Se Nashville R. Lowenstein & San.
Metobi Iron Corp. Minnesota Mining Mission Development Momante Chemical Co. Montgomery Ward Motorola Inc.
and National Cash Iteg. "A"
1
Steel shares, early upside leaders, had losses of over a point in Bethlehem nad Inland. US Steel hold a small rise.
Chrysor, selling ex-divident, lost 1%, Generni Ford held steady,
National Dairy Prod. National Lead
"National Steel Corp.
New York Central oun Mathieson Oth Elevators
Owen-illmoi Glass Pacific Gas & Elec.
104 Spot rubber unbaled
no
WORLD COTTON MARKETS
New York, Nov. 7. Prices of cotton futures closed today us follows: Spot December March May July October December
March
110
CUMTM
Tel. (0)
even
Trade sources paid wheat to- 200 m 10.10 2000 t 15 day closed off to 1% cents,
100036 soybeans up to 11⁄4 500 - 03
Wheal, No. 2, red
30 or 100
Contract No. 1 (world)
Мот
My
July
чет.
Spot-trent pr. lb fob Cuba)
Contract No. 6
Mai
Mar
July
Sept.
Nov
Spol.teenis per
ex-duty!
88972
5.77
United Prem
NAMESAKES
7
Answers--1 Engine, 2 Ran- way line, 3 Companies, Trans- port, 5 Signals, 6-Freight, Shares, & Terminus, 9 Lands, 10 Trains. 11 Locomotive, 12 Finance.
George Hudson
Wherever
(The railway
you're going.ði
14.80 10
03 0315
10.10
Spot
233n
Dec 231
232 233)
XD
1.40 1,478 1.571.
Mar
3540 m
1.00
May
July
229!
(inancier).
Slept,
22
22.00 83.20
200 do 13
Corn, No. 2, yellow
腦
130
Bpat
132-139
103
Dec
13744-352
200 104
24
1700
24
Mar
14211
500 23.90
May
July
146)
-31
2000 m 3315
seni.
14413
9.3
Byo
24.30 24
1000 24.40
Dec
18471
200 2416
MAT
1100 23.30 13.03
800 de 2440 | Onta
23.40
EUROPE
Dec. Маг
70
Soybeans, No. 2, yellow
377
301
200 30
Spot Now,
Jors.
14.00 14.70
13 40
1320 14.79
G25 of
May
6041
2420 24016-247 22514-3h 156443714 237
USA
Barley,
Spo!
New York flour
If capital goods are to be pro- STORES, ETC. vided, the resources from which Dairy the they must come can be
made Watson by the
COTTONS dctermination to forge Textile
and spending on goods
of many kinds. Un-Nanyang services doubtedly this involves de- must prepared to go without some ini comforts and luxuries now
privation, but the nation
bo
BLAN
order to enjoy more of them in
33.89
the future.
11.04
33 00
3378
The Budget
31.03
33.00
The Budget for
1050-57 1s
3283
Cotton trading volume and
07-071% 2045- i-ix
change were as followE
Mouth
Volume
089-567+
79-81
Dec.
22,000
Mar
10,400
110-121.
May
17,300
340,000
July
10.000
147,000
Oct
29,700
117,000
0.000
78,200
500
14,300
116,000
1.380,600 bales 1050.
The market was easier with Dee Mar
spot quoted at 29-3/10 perco Total
NEW ORLEANS
of
March,
Сгр
4.30
150
July
Singapore
Stock Market
200 lb. rack
130-140n
pants, $13401
nited Prein.
WINNIPEG GRAIN PRICES
Winnipeg, Nov. 1.
Prices of grain futures closed today in cents per bushel as
ORIENT
follows:
Dec.
May
July
Singapore, Nov. 8. today Brokers
quoted
Rye
Dec
the
May
July
Opening Barley
Lintang
Rubber Co
Petruicum
Smetter
Dee.
$1.00*
B4/-
20/-
May July Flaxseed
open interest today on the EX-significant in this context, as it lollowing stock prices:
allepants to reduce expenditure Batu and avold too great Open interent | 123
pressure Lid. 508,100
on men and resources for both | Beithia 380,200
Syndicate current consumption and capiini
Consolidated development. It thus holds the
Ord. line laid down by the Sup-Traver & Neave 14d Ord.... $2.04
Fraser & Neave 7417% cum. plementary Budget
$4.00 pret Gommoni (Malaya) Limited $7.10
Shanghat Hongkong & The Budget surplus is to be
Banking Cūrp. used to finance public works. Hongkong Tin Ltd. Prices of futures closed today As these expenditures are being Lunas Rubber Estates Ltd.
Kempas Ltd. provided out of revenue, they
29 Malayan Breweries will not add further to inflation,
New Berandah
Lid reel criticism of the Budget Petaling Tin Ltd. The Is on the grounds that Govern- Brilles Hotet ment expenditure, including Shapore Cold Storage
Boun Britan Insurance Co of public works proportion khould be scaled down tunder straits Trading existing conditions, to enable Straits Steamship
significant Items in United Engineers Ord.
Wearne Bean. the nation's list of caplini, pro- cumdiv. $ exdiv. 25.00 feels to be pushed forward with Special. Bar/Apr. 25.22 greater rapidity. May/June 23.02
per lb. Prices:
No. 1, a pot
2016-2914
Settlement house term:
2214
December
20-29
407
39
Jam/Mar.
201-294 as follows;
131 July/Sept.
Apr/June
2014-28-1
Sput
2714-2742
Dee.
5
Oct-Dec.
204-27%
1044
General markets, elf bars, ports:
Mar.
Mar
02
88% December
November
2816-2113%
July
231-237
2311
January
20-231
Chat.
Dea
Estate crepe this
MST.
Estate crepe thin, Dec...
35%
Estale crepe thick
unquoted
63
AMSTERDAM
The market was steady Prices closed today in guilders cif December as
40 per kilogram,
110% followE
23 No. 1 rubber
No. 3 rubber
53 No. 3 rubber
43 No. 1 crepe
感
AD
Pan American Airways
Paramount Pictures
Parke DAVIN Co
Ponny J. C. Cu.
Motors Penn Belt Co.
Philip Morris Procter & Gamble Co. ap-Paburgh Plate, Glaun
Publicker Inquiries
lower,
Of a total 1,171 Issuen
$52 were pearing. higher.
300
New York Stock Exchange bond volume was $4,200,000,
American Stock Exchange volume was 660,000 shares,
Pero OH
Repubile Steel
Reynolds Matal
Shell Oil Co.
Saint Beg. Paper Sinclair O
Socony Mobiloti
South Puerto Rico Bugar Southern National Gas Southern Railway (Cont.)
Dow-Jones closing averages Steep Rock (Torontor.)
were
30 Industrials
20 rally
19 ullilies
65 locku
40.
Comins futura price index
Comin, apat price index
Moody's Index
Closing Prices
·Aldan Ino, Aoy. AJIM MENLO Ing.
Arters
401.18
Standard Bran
Standard Oil et Cal Standard Öll of Ind.
169.95 Sterling Drug Co.
07.56
Stokely Van Comp. Studebaker-Packard Corp.
173.62 111 & ca.
Texas Co....
Suio
100.00 Tide Water Aman. Ol
121.00 Twenty Century Fox Yum
Union Carbide)
Union Pacifle', ani
United Airongit
11.8. Line Co.
U.3. Rubber
16% 1104 Bmailing.
LIVERPOOL
33.30
33.84
33.80
34.07
53.74
33.00
33.01
32.00
the more
Price of futures closed today in pence per ib. as follows:
contract Dec/Jati,
Old
1.77 nom.
2.74 pald 2.99 form, 1.46 paid
New contract
United Press.
NEW YORK METAL FUTURES
Now York, Nov. 7 Prices of metal futures closed today in cents per 1b. follows: Lead Nov.
Doc.
Tin
Nov.
Doc.
Zino Nov. Dec.
Copper Nov.
Doc.
July/Aug. 24.50
Oct/Nov
May/June Jul/Aug.
Dec.
20414 May
2004-2 July
200 Wheat. No. 3, 1601, cents: No. 3. 14434 cents.-United Presi.
Exchange Rates
Business was done in the local unofficial exchange market
1000
Fred
$4.051
0.87
$3.00
Rubber Co.
This
31.87
morning at the following taler;—
$3.37
US. dollar per $11
6.28
Sterling notes (per £
14.71
$1.51
Australian notes (per £1
13.66
$15.25
$25.00 Singapore (Straits)
Indonesian rupiah (per 100)... 18.30 Biam Ucal (për 106)
27.30
1.00
$0.80
Chine
Significance Of Savings! London Foreign
Deo/Jan. 20.15 Mar/Apr. 25.00
to The rent objective,' is 25.30 25.00 balance the level of demand Oct/Nov. 21.00 troughout the whole economy, to cable public works to pro- cood at the pace neessary
The erabilshment
Egyptian Kamak Nov/Dec.. 00.00 BAO PAULO
Futures closings, in cruzieros per kilo were as follows;
unquoted 30.00 unquoted 28.75 unquoted 30.10
Nov,
Dec.
Mot.
May
وتريد
Oct
18.20b 10,206
In the US the average (spot 104.756 price was 23.15
Exchange
London, Nov. 1, Closing rates were: New York to Montreal and Amsterdam
Copenhagen
Spansion of inchistry. A proper runnels
balance between public work? :zrunktur. and Industrial developinent wil hijan enable Australla to achieve her Paris nailonal objectives,
If balanced development 15 coms. Sales to be, maintained, it is essential 102.00b totalled 125,914 bales United that savings be promoted, not
13.206
13.10 Press.
25.706
33.600
United Press.
LONDON METAL PRICES
London, Nov. 7. Prices of metal futures closed today in sterling per long, ton as follows:
100
London Wooftop Market
Zurich
2.7814-2.70 3/18 2,80 9/16-2.5047 10.67-10.820 139.57-133 40 19.5212-10.321
140045-11.8074
1000-30071 +
141413-14,957S 13.29-12.22IS -United Press,
only by the compulsory mothed New York Foreign
of imposing taxes to syphon
funds from private expenditure to dovernment revenue, but also by the positive method of stimulating savlägs
Excellenttheilities
Australians
Exchange
Now York, Nov. 7.`-- Closing rates were: ist la Canada build up and unofficial
tho Offers Ware, umehänged,
Arvings scuro In.
London, Nov. 7, Merino wooltops futures mar- | TAGI ket closed steady with 103 lots..
Closing prices were:
knowledge that the funds are In matu, hatus ang will be put good use in the nationti on Food
10.
Mensures to stimulate savings
and reduce consumption ex penditure, area wordhy of the
1.03 1/18 2,004.01 United' Pros.
CHICAGO LARD FUTURES
Chicago, Nov. 7.
futures closed
· Prices' of: LAND
Tullest support by all, to sheck today in cents per lb, as follows:
Form
ROUND
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