THE CHINA
TUESDAY, FEBRUARY 5, 1957.
Page
TRADE and COMMERCE SECTION
Little Encouragement For TUC Officials
EFFECT
OF OIL SHORTAGE
ON EMPLOYMENT PROSPECTS
London, Feb. 4,
The Government were apparently able to give very little encouragement to the Trades Union Congress whose repre- sentatives called at Whitehall for the official view of the effect of the oil shortage on employment prospects.
not
WORLD RUBBER MARKETS
New York, Feb. 5.
The ex rubber futures con- tract today closed 76 to 120 points lower with sales of 263 contracts,
reported.
Mar.
May
July
Sept
Nov.
T
Mar.
HONGKONG
STOCK EXCHANGE
this
ap-
NEW YORK COTTON NEW SEASONAL HIGHS FOR OLD DELIVERIES
Thirty-five cent cotton
New York, Feb. 4.
came back on the
futures board today for the first time in almost nine months.
(From Our Correspondent)'
Chains the to' around $1.25 d Business done on the Hong-bate lifted the nearby
March long Stock Exchange
the 34 morning
contract well beyond amounted Lo proximately $217,000. Nooncent line, establishing now sea- old стор quotations and the morning'sonal lughs for
deliveries.
The last Umo the 35
cent
INSURANCES
Lombard... SHIPPING Wheelock
DOCKS, ETC.
Ajar.
May
20.18 20.07-60
July
29.40
Sept.
20,10
Nov.
28.03
Jan.
28.00
Mar.
28.03
Standard contract closed 75 to with no sales
transactions;
Share Buyers Sellern.
Sales
BANICS
30.15
HK Bank
1000
20.80
20.40
31
29.10
28.10
9.79
0.06
500
4.00
28.80
20.05
K. Whert. 0435
40 6 po
Dock, XB.. M
and
Trov (0) 8330
LAND, ETC.
10 Hotel 18.10 10.20
600 15.20 600 13.40
** Lond Humphrey Itually RUBLER Amg
100 02
in de-
factory
kylar, | Trist
werd
Both sides were unaccountably in November. Thanks to these this year due to the higher price 123 points lower accretive about the outcome. The measures the reserves rose £5 of oil. definite statement-and | million during the stor to £702 most that
Specially helpful- million. came from Sir Thomas William- son who led the TUC deputa- tion.
**The
" Ministers, he said, "were not optimistic on the ot lot of We asked д questions and they gave, frank and tair answers. There are hopes that the position the future may not prove as bad as I might look at present"
situation.
Chief ReasONS
ILA
In
why 11 Is
The chief reasons Impossible to make hard
And
fost predictions about the effect
come
the
Most of the big wage increases were nearly months of the year, From May to October the wage rates Index rose less than one per cent. There are, however, a of important claims number now outstanding.
Corresponding Ogures for in- dustrial profits are unavaliable but the Treasury says the trend of declared profits and dividends covering broadly the trading
mrld 1950 shows year to Blackening rate of rise.
Basic materia! prices were fairly steady unill the
At the end of November em- ployment in the manufacturing 12,000 industry was down by on the year before and this was accompanied by reduction of 80,000 in the total civil labour force. Workers moved from con sumer goods industries to the capital goods side where were most needed.
Dislocation
rationing is now beginning cause some dislocation dustry, mys the Treasury.
they
Speculative liquidation Increased selling met a poor offtake from the trade ក because of buyers shied away the sharp drop in Singaporo
the 05
lower
prices as well
London cables,
п
מתוך
0136 0235 10.30 10.10 1401,423 5000 9 1.445 1.82% 1,874%
اله
lovel prevailed was on March 14, 1950 when the кров month traded at 38.98 cents a pound,
Strength today
tive
London Stock
Prices
Fall
Landon, Feb. 4,
TOTAL ASSETS
The total
Insurance companies which will be "kryplianised" Atholl to 9,518,429, the Pihalle Muhidify announöa ed tonight.
kiba
thele Australiaa kranca Boh- Bahies, -11 - das 1 be Egyptianised, smount to s total of £61,787, thé a nouncement added, The assets of
Egyptian companies thè capital of which at lězit, kixty per oil Biltikh or Frenhis total £7,030,84%. Th8-3W law stipulates that the, Bri- fish and
azgots in Leno
shoul
bo Egyptianlsed. The total navela of all these coin- panies amount to £174 120,403--United Press,
NEW YORK METAL FUTURES
New York, Feb, 4. Prices of metals futures closed today in cents per lb, as follows;
Mar
15.305
26.185
13,050
Mar
22.84)
30.6b
Mar
100,00h falandard]
06.00b
Feb.
101,00 (st={})
Mar
20.00
United Press.
Announcement of a further reflected decline in the sterling area's severni influences, traders sidd.
la, gold and dollar reserves drop- First, covering in the March ped prices on the London Stock
to the accompaniment Exchango delivery
fodny, especially in of reports of a tightening at the British Government section. tion in the supply of "fred"
Old Console were marked Lead Fob. of tho heav? down more than 2 shillings and Cotton because
Zing Feb. loan impoundings, now over the more than o in War Loan and 4,000,000 bale inurk. Mill on many others.
Copper Fab
Mar Leading Industrials were exporter Interests, plus specula-
Tin Feb. Covering,
oncountered mainly off about a shilling, al- 5000 as 1,528 } limited offerings.
though Rolls-Royce yielded 2. of Imperial scarcity
Chemicals dropped contracts, as much as anything £34 to £3947 elee, accounted for the action,
Oils Cased a few shillings, ap- some traiture beloved Sellers purently from lack of demand cautiousness reflected a diepost-Instead of dehnite selling. Suez
on to await the Government Canal off 1⁄2 to £50. samounicement on the minimum
Foreign bonds were mainly
London, Feb. 4. interim loan rate for the new
In the unchanged.
Japanese The price of silver was un Bens there was a rise of £1 in changed at 80 pence for opot
non-assented 1924, and 79% pence for forward-
United Pres. United Press.
800 1.55
3800 @ 1.59
166 et 1945
23000 * 1.03
1.00
1910 1.65
5000 @ 10% 200 23.40 2100 104 21 20 23 60 4000 a 33 314 315 100 45
01
5000 68 1.618
The prolonged pause Industrial output хула about
mand from domestic the some as in 1955, reductions accounts
another in some sections being offset by Consumers apparently increases in uthera, But petrol holding tighter than ever, fol- | UTALITTËS
for Fran in in towing operations accounted Suez
Youmail' and good portion of the trade,
including several large-sized h expected switchto of March and July Macao X.
emiracks for physical rubber, Telephone (0) 24,48 24,70 Little or no Inferest was shown In the shipment market, Locally 1 Ra was quoted spot No. nominally at 30% cents,
SINGAPORE
of the oll shortage on employ= | crisis, then rose sharply. Prices ment is that no one knows how of "all manufactured products of output much oil will eventually
food and tour in transp: difficulties, other than fuel, from America,
bacco" showed a four per cent rise but the increase was evenly Political events in the closing spread over the whole year.
cf months
1936 therefore, Retall prices were remarkably marred what might have been a of very encouraging steady in 1950 and higher work! year
économie progress.
How soon not ex- commodity prices are
be resumed pected th themselves to under that progress comm
But the mine this stability.
will depend on the effectiveness of government policy over next Treasury warns there is likely
months.-London few difcult to be "a rather more than sca. sorial rise" at the beginning Express Service.
A report this weekend SAYS President Elsenhower a getting ready to put pressure on Texan oil producers to free more oil for Britain and British Government will naturally
ore nothing to make his task more difficult. They can help Now most by keeping qulel-and is probably what they told
this
the TUC.
do
One crumb of consolation for Britain in this unhappy sinte of affairs lo that the country is in a better economic condition to withstand the effects of an oll shortage
than 1 would have bren
n year ago. The measures taken towards the end of 1955 and in early 1950 to curb the high level of Internal demand have resulted 4 a great improvement in the country's basic economic poel-
tion,
Wall Street Opens
In Narrow Pattern
New York, Feb. 4.
Stocks opened the week in a narrowly irregu-
lar pattern with trading moderate.
At home a reduction in do- mand for both consumer and capital sired effect produced the de-
of moderating im
more goods
There was for
export. Once the menguren
atcels took a
Frip wage ruten rose much less sleeply than they had point
ports and freeing
and
some easiness in General Electric
with Bethlehem
und Youngstown Tube, Republic
previously (though a new up-sel off fractionally.
ward movement is now in pro-
gress) and this helped to stabilise
(
costs
and
prices.
output on
Industrial
of
1
General Foods
ferral Motor Sheet, den, Pub Ul. and US Getty Oil
Glidden Cu. Godrich (B. 8.) 20. Goodyear Tire -
National Supply, Ameruda Heinke Mining La. showed Timken Roller Bearing diethe: soll-Rand
of clined a point or more, shift "
the whole
but
change, manpower away from some in- dustries and Info others led 40.0
The market opened lower on disappointin advices and cased further du the day in quiet
mricot. post-holiday
There was some good interest for lower grades and some tec- tory buying. Futures:
No. 1 rubber per lb. Feb. 05:2
INDUSTRIALS
(N) 234 23,70
30.60 39 $12.00 30 ioso da10
14
Cement Нора Amoy C STORLES, ETC, Ontry
Watson
13.00
Cald Mão.. 20,70 COTTONS Nanyang
MISCELLANEOUS Entert..... 17
280 23 500.
The
relative
Open contracts in March today totalled 177,700 bales.
The the certificated stock at 2,925 ehowed a ficcrease of 30 bales from the previous posting.
Month
March
May
Jizly
Oct.
Dec.
2004 B
Mar.
May
40 $20-80
CHICAGO GRAIN
Mar.
No. 2 rubber per b. Feb.
No. 3
Bi 86-8615 8315-04
No. 4
70-00
80-00'
Blanket crepe
75-77
92-09
on
Spot rubber unbated
No. 1 pake crepe
MARKET
Chicago, Feb. 4.
declined Grain futuros
the Board of Trade today, with corn again making new lows for the quietly wag steady with spat quoted at 25% | season. pence per lb. Prices:
The
LONDON
market
No. 1 the pot
After an easy opening, wheat rallied on commission house buying. Trade was light during most of the session. Near the 2336-231 close, longs sold.
23-20
Settlement house term:
March...
April/June
July/September
23-254
4335
October/December
4015
General markete, cif basin,
Fobruary
23-2512 poris:
On
40%
Marsh
American Home
Innod Steel Co. Interchemical Corp. Int'l Business Machines int'l Harvester International Nickel International Paper
020
103
There were several upside features 100,
Owens Illinois
reduction in the surplus of Products, American Hawaiian vacancies over jobseekers and a Stenship, generally more healthy employ-Glass, Gulf Oil, Allied Chemical ment situation.
and Du Pont rose around a point to 1% polats and Newport News Shipbuilding and Dry Dock ran up 74 to $81. Elsewhere, however,
Main Points
An outline
laat week by the
prices
of the economic
In close. Treasury. Friday'
Chrysler added 迩
record for 1950 was published were very narrow either way of
Here are its main points:
Tuti Tel & Tel
Jahn-Manville Co. Kontas C. Power & Light Kenneenit Copper Linquit Meyer Tob, Co. Lockheed Aircraft [thews Incorp.
Lone Star Cement Co
Louisville & Nashville R. Lewensiela & So
Mesabi Iron Corp. Minesota Mining motors, Mission Development fraction, Monsanto Chemical Co.
Montgomery Ward
In the Drst nine months of General Motors declined slightly. Motermia Inc. 1050 the volume of consumer Most oily were fractionally | Natichal Cash Reg. goods and services sold on the higher. Hails were
virtually National Dairy Prod.
Netional Lead
National Steel Corp.
New York Central
Dow-Jones closing averages olte Mathieson were:
Com made new seasonal lows liquidation with stop-loss 237-269 selling appenting on the decline. Oats also declined on liquidation by longs. with some contracts making now season's lows. Soybeans opened easier, atler E
2541-25-1/2 April
231-20 Site crepe thin March 2014
thick unquoted AMSTERDAM
The market was very quiet Prices closed today in guilders 100% per kilogram, cif Feb, as follows:
New York Sugar Market
July Total
Volume Open interest
12,100 $11,700
13,000 380,000
2,100
140,000
$,100
150,700
4,000 108,300
1,900
30,000
4,700
71,000
1,200
10.800
45,600 1,092,000 bales Closing on a note of strength the 1st finished at the day's highs and up 15 to 24 points net. The market opened up 0 to off 2 points, New Oricans closed up 18 to 21 points.
NEW YORK
LONDON SILVER
PRICES
POBIE
E&A
COMPANIES
PENINSULAR & ORIENTAL 5.N. CO.
PASSENGER/FREIGHT SERVICE.
Prices of futures closed today as follows:
•
Spot
34.40n
Mar.
33.10
May
35.00
Outwards "CANTON"
July
34.50
"CORFU"
Oci
33.74
Dec.
33.60
"CHUSAN"
Mar.
13.05
May
July
NEW ORLEANS
Prices of futures closed forny.
Rs follows:
Spot
Mar.
May
July
and
Oci.
alight rally, downward again. Trading was mixed and dealings were active. Grains at outside markets were mixed.
started
Dec.
for.
MAY
July
J1
402%
No. 1 rubber
2.54 nom.
4P
No. 2 rubber
2.50
14
No. 3 rubber
2:5
Wheat closing changed to up 1% cents.
range
u--
No. 1 crepe
37.00
United Press
Soybeans closing range:
to off % cents.
up
Old contract Mar/Apr.
May/June
Prices per bushel in cents: Wheat, No. 2, red
July/Aug.
Oct/Nov.
Dec/Jan
Spot
237-2301
New contract Mar/Apr.
Mac. 24414(11) 20)(L)
238-4
May/June
May
July/Aug.
July
225-34
Oct/Nov.
Sept
2234-44
Ded/Jan.
Nov.
22824-16
New York, Feb. 4. World No. 4 sugar futures closed today 6 to 10 points lower with sales of 1,672 contracts.
Dorn. No. 2, yellow
Spot
191
Mar.
1304
May
July
137
Sept.
The domestic No. 6 contracts.
Nov.
Rye
Mar
restlessly
May
alb
Mar. May
70
7435-4
Soybeans, No. 2, yellow
Spot
Mor.
54832-240
6
my
30xd Failed buyer over the weekend
July
3:23
$.20%
Repubile Steel
6142
00%
Reynolds Metal
of some 2,000 tons of Cubon's at 5.30 10 5.35 cents a pound, tob,
Sept.
Nov.
245 23014 13232
New York
Montreal
Harley
Amsterdam
30
Shell Oil Co.
7814
33%
Sinclair Ol
0014
Contract No. 4 (world)
Spot
American Airline American Cable & Radio Corp.
2012
Socony Mobiloll
60
South Puerto Rico Sugar
344
March
4.07
200 30. sack
American Cyanamide Co.
70
Southern National Gar
41
May
5.00
Amer, & Foren. Power
143
Southern Railway (kom.)
45
July
Am. Much, ôc Fdzy American Ateta?
33
Steep Rock (Torontoex.)
2014
Sept
2015 Standard Brands
10
March
4.00-8.00
4:12 4.10.
43
Standard O) of Cal.
May
433
17734 Standard Oil of Ind.
3014
July
7
Btandard Oil of NJ.
674L
Bpot-(centi per lb. fob
6615 Sterling Drug Co.
Cube)
5,00
66%
Open interest: 3,701 contracia.
21% Swift & Co.
Contract No. 0 (domestic)
Marcit
5.64
May
5.39
July
1.63
Bept.
Spot-(cents per lb, 'ell "NY''
30 industrials
home market increased by less unchanged. thon
one per
cent compared with rises of three per cent in 1930 and five per cent in 1954. Investment on the other hand, particularly in the manufactur ing industry continued to risc strongly thought it would prob- ably have risen investment allowance
20 rails.....
18 utilen
64 stocks 40 bands
more if the Comm. futures price index
had not
Closing Prices
been suspended. Towards the end of the year it was begin- ding to level out and the latest estimates of the value of new Alden Inc. Acy.
Allied Chemicals
building and elvil enginearing Allied Mills Inc.
work (other
than housing) suggest that it will be no higher In the third quarter of 1950
than it was quarter
In the second
With world trade sUll
Anus Chalmers
American Smelting
panding, particularly in manu-American Tel. & Tel.
factures, exports
ex-
continued to American Tou. "*****
Anaconda Copper
cent
Armour **** Atlan Cons. Mining Baliwin-Lima-llam. Baltimore & Ohlo
Bendix Aristian Corp.
angust Cons
Had through 1956. The underlying Armed Steel increase (after dock strike nd- justments) was ten per cent in Value and alx
per volume. Imports on other hard with production unchanged and some running down of stocka showed practically no increase.. As retult the trade ap
cofsiderably reduced-froj: Canadian Pacific R. W million
a month in 1955 to Caso (J. 1.) Co. 261 million in the first half of Cat Tractor 1050 and £44.3 million in the Celanese Corp. second half. But the closure of Chase Manhattan Bank the Suez Camb must advireely
Nethlehem Bleel Boeing Airplane Norden (The) Co. Burrougli Add Maching
C. I, T. Financial Corp.
Chrysler Motors
Climax Molybdenum
affoet the balance of payments Colgate-Palmolive Co,
And the Treasury's "most Pentistic forconat!” “li v rough bainace is the 32 months to mid 1957.
Speculation Halted
Cominercial Credit Commonwealth Eréć. Consolidated Edison cuntenial Oil et Del. Crane Co Crown Zelierbach Cuban Amer. Bugar DURITIU'AIRNÍ Dow Chemiekis. Dupont de Nemours
mums Kodan
- The various ménekes fitten to feinforce the gold and dollár El Palo National Clas
Free Railroad
forerves balled a serious bounty Finance Corp.
speculation against sterling Fora Motor
Otis Elevators Owen-Illinois Glo
477.10 Pacific Gas & Mec
14829 Pan American Airways
23.12 Paramount Pictures IG0.01 Parke Davin Co.
0040 Penn, Salt Co. 150.15 Philip Morris
Procter & Gamble Co. Pittsburgh Plate Gins Pubilcker Industries Pure Oil................... Radio Corporation
50 closed 1 to 2 points lower with
sales of 247 contracts,
Prices
churned
After a steady start the market reacted sharply, then staged a
51 partial recovery at the close.
The raw market weakened, although Japan was the accre
扣
*
Leaves London
Salled
10th February
8th April
Dub Hongkong 2nd February 30th March 8th May
Viz Southampton, Colombo, Peñang à Singapore,
Leaves Hongkong Due London
Homewards
"CHURAN
18th February
21st March
"CANTON" "CORFU" "CHUBAN"
10th February
3rd April
4th April 12th May
12th June
34.30
30.12
33.07-08
31.36
13.07
51.64
"BUNDA"
房
00.00
*
+
"BANGOLAM đối chi n
maila dotis Web
**
Exchange Rates
6.07
exduty)
8.00 Open Interest: 3,091 contracte.
---United Pirba
LONDON. METAL PRICES
London, Feb. 4 Prices of metals closed today in slacking Ben long ton nó fol- Low:
New York flour
13416-4
23532 131
13814-130 13012
130-1401
$15400 *****United From
Singapore
Stock Market
Singapore, Feb. 5, Brokers
today. quoted the following stock prices:
Korkkonu TUN LIE, Kemban Ded. A Linas Rubber Esinika Lid. Malayan, Beggering diken Now, Berandal Rubber
Ladk
·Büyère Séfiers | Petaling (TO LAd.
1841% Flaneu. Hotel | „Akcha €700,0 Bingepióro, Cold, Morag
Straits Trading
21134 | 12mits Blowerikā:lp
·United Engineerij
991: Wound, Eron,
• audiv/Chisa, Ball Specia
LIVERPOOL
Futures closings, in pence per b. were as follows:
Egyptian Karnak Jan./Feb.
BAO PAULO
In the US the average price of one-inch cotton at 14 spot markets was unavailable.
Total sales at these markets was 33,700 bals-United Press.
London Foreign
Exchange
London, Feb. 4.
Closing rules were;
Brudold Frankfurt Libson Milan
Parin
Stockholm
Vienna Zurich
Copenhagen
Prem.
2,7974-2.79-15/16 3.00-0/10-3.00-7/16 10.07-10.0712 140,01-140.07% 11.766-11.75% 60.10-60,15 1700-7701 20.00-20.001
72.23-12.85
32.20.12.2814 unchanged United
New York Foreign
Exchange
Now York, Feb. 4. Closing mles, were:
NAMESAKES
Answers-1 Writer, → Des- cribing, 1 Naval, 4. Calcutta, Fair, Chaptors, 7 Tamond, Saiteside, History, 10 Vanity 11 ·Romhaben · 12 · Boots; 360 | Pidenniej: 14 Pirographay 10.00 Beatrix, 10 Library.
William
Thackeray novelist),
12th May
Via Singapore, Penang & Colombo,
FREIGHT SERVICE
Jõàðs 12th Feb.
*SALSETTE” dae 13th Feb. que 2nd Mar "SOUDAN" "SALBETTE" loads 5th Mar,
"SINGAPORE"dde 11th Mar. "BALLARAT due 17th Mar;
for Singapore, P. Swet- tenham, Havre, London, Hamburg, Rotterdam, Antwerp
Gringe- mouth
Youth UK. from UK,
for Singapore. P. Swet- tenham, Penang Lon-- don, Hamburg dam & Antwerp
from UK.
from UK.
foller-
ALL VESSELS OUTWARDS AND HOHEWARDS WILL FROCEED BY THE CAPE · OF GOOD HOPE UNTIL FURTHER NOTICE
BRITISH INDIA S.N. CO., LTD.
15 — A HUNDRED YEARS OF SERVICH A 1959
*WABORA” due 4th Tob.
Walls 8th Feb,
"SANTHIA” dug 0th Feb. Balls 7th Feb.
from Japan
for Singapore, Persang, Rangoon, Chittagong & Calcutta
trom Japan
ror Singapore, Peluang, Radgoon & Culcutta
from Calcutta, Rangoon & Strap
for Japan
P.` & 0./B. I. JOINT SERVICE -- "ITILIA"
dhe 0th Feb, call 7th Feb.
půls Fél. salls 10th Fob.
4th Mar. 409 salle 6th Mar
from Japan
Bambay
for Cochin, Karachi, Basrah Kuwait
from Jathar
for Singapore, Bombay, Karachi Borah,, Ichor rahabr & Kuwait From Bombay Findadha for Japen
EASTERN & AUSTRALIAN 5.9. CO., LTD.
“ARAPURA”dne. 8th Feb.
all th Feb.
“NELLORE” Qua" - 8th Feb.
for Baddakan, Itabout, Brisbane, Bydney
Adelaide DOUTDO
from Australia,
“All vessels have liberty to ckh at any porta du or off the rdúlà à the route é malling are subject la charge or amendment with or withưuk Motion,,
For full purticulars apply to t MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos: 27721-4.
Stokely-Van Camp.
145 Studebaker-Packard Corp.
134 Texas Co...
45 Union Carbide
501 Union Pacific Railway
United Alrerati
69 | V.B. Line Co.
1
1701
US. Foll "D"
U.S. Gypsum
3036
US. Rubber
US. Smelting
2014
U.S. Steel...
Warner Bros.
Westinglinium Blectric
Wont VF. Pulp & Paper Woolworth
(59) Lumofficial
>
16 dolar(pez) (3) 1),Akadee Sterling notes (per £1).
Australian notes. (për "RYA
Indonesian “evials (ore 1009
bullpeka wad done in the local | Tin, pol
month égehange MAINTA morning at the following traUnd side. Copper Spok
Lead lat hale
Zino 1st half. Tei
700
ELJUSTO, LIVAL (pwr (100)⋅ dis Singapore (itzulta})
(0.20
1.80
Līnited. Prond.
DOG-000 14.5035-14.50%
Batu Lintang Jubber
Littl
Co.
Beth Borneo
Byndicate
Consolidated
Ord.
Gammons Malaya) Limited Hongkong Shanghai Bank-
ing Corp.pho
Petroleum
Batseller
$2.27 Fraser & Neave 145 Ord. Fraser & Neave 1% cum.
# pret
Opening
$1.0
bund
Casiada
England official
2-70-10/10
H
Beldum
Bwilzeriand
$3.10
30-day futures 2,10-11/10
DO-chic futures 2.79
0190-3/10
Unilda Preat.
J
"ITAURA"
dná
"TTOLA"