►
THE CHINA MAIL, TUESDAY, MAY 28, 1957.
TRADE and COMMERCE SECTION
Atomic Power Stations' Trade War COTTON FUTURES
UNITED STATES AND BRITAIN VIE FOR
FOR SALES
From RONALD BOXALL
London, May 27.
Preliminary skirmishing in a new kind of trade war-the rivalry between Britain and the United States to, sell atomic power stations to third countries—has already revealed potential points of weakness and strength in the contestants' armourios.
HONGKONG WALL STREET
STOCK EXCHANGE
Our Own Correspondent
HAS WIDE LOSSES
New York, May 27.
CHATTER ON WALL
STREET
IRREGULAR AFTER BRISK RALLY
New York, May 27.
Cotton futures today turned irregular after o brisk post-opening rally lifted the market around $1 a bale to set new seasonal highs for all deliveries from October forward,
At the close the list ruled off 3 to up 9 points. The market opened off 2 to up 7 points. New Orleans clored off 4 to up 9 points,
A Jow private ncreogo today ng follows: estimate plus a broader demand Bache & Co. finds the market for spot cotton, and more un-
influences,
New York, May 27. Orvis Brothers & Co, says some consolidation in the industrial group seems rea- Weakness in aircraft shares, chemicals, steelsonable at this time. Business done on the Hong- and metals gave the market its widest loss since kong Stock Exchange this Feb. 11, but it was a decline on lightened activity. forming another stop for its wanted rains in West Texas, moming amounted to approxi-Turnover dipped to 2,290,000 shares from 2,340,000 upward pattern....says General were the dominant
Cables technical pattern con- The late crop start caused in- one and the morning's trans- on Friday.
tinues to indicato further capital creasing_concern.
New Orleans Intercets, commla Commentators saw the move as largely tech-rain potential
sion houses and the local-irade nical in character after recent good gains, with Harris, Upham & Co. es- were the leading buyers after timates American Stating will the first call. When the demand talk of disarmament and budget cutting putting
earn $3.50 for 1957 against $2.77 was satisfied ie 'early buyer in 1056, Bays $1.60 dividend resold. Technical realising also some pressure on groups such as aircrafts.
rite could be raised to $1.75, WAA Q factor, although the market showed resistance on International Business
mately $118,000, Noon quota-
actions:
Shares
BANKS
Union
Buyers Sellers
Bates
1030
90215
7:0 MAD
Strangely enough the two greatest political... allies in the world are competing in the first in- INSURANCES stance for valuable orders from the ex-enemy countries, Japan and Germany.
The first thrust was made by to Japan will the United States. At a United finanred in the States-Japan Atomic Confer- ence in Tokyo, just over a week ago, American officials called Britain's pioneering Calder Hall nuclear power station "clumsy, inemelent and dangerous."
British Government parried to neally. criticism," said the Paymaster General, "Is to show what the critics have not.".
"The best answer
There indeed ea Britain's main strength in this struggle Alone exports, for atom-age among industrial nations of the work, it has nuclear power station actually la operation.
Big Lead
And whatever American onl- elais may Tell potential customers, American engineers admit that Britain has built up a big lead.
In a report to the United States Atomic Energy Com- mission, an American firm com pared Calder Hall's gas-cooled reactor with the pressurised water-cooled reactor under con-- struction Pennsylvania. made reactor, they said, would be less expensive because of coate and lower construction capital charges. Construction of elther reactor would cost about
bo
presumably ordinary way,
moment IL is rather than
SHLPTING Wheelook.
DOCKS, ETC, K. WHAT Bork Providen!' LAND, ETC.
100
Hotel
(B) Really
RUDDER Amalg Trum
UTILITVES Tram Youmati...
19 13.30 1840, 25.50
0118 1,423 165
1.4736 15
1.80
Still at the technical ability shek salesmanship that la win- ning the orders. Small British reactors have been sold or are being sold Germany, Denmark Australia, and a German and group is coming to London this week to discuss purchase of a full-scale Calder Hell type power station. To date actual and probable orders for British atomic plants amount to nearly. Light (0) 38.00 19.50 £50 million.
Dut the race is just beginning. Britain is in the long because I has the only working atomle power station in the world and is streets ahead of other coun- But this tries In know-how. will not always be the Other countries will one day be building their own atomic power stations and that 1s when salesmanship will really count, -London Express Service.
Cancer Scare
Shippingport, Causes Heavy
The
British-
50 per cent more in America,
Tobacco Selling
mixed on
to
300 44 7,40
+
National Steel Corp.
7136
Oil
New Yone Central Ohn Mathema
32)
03
10.'
4336
Heaviest volume camo in an upside standout, Getty 12040 which climbed 2% to a now of 38% Profit-taking high pared all but a fraction of the goin just before the close,
and
General Dynamics, Dow 21⁄2 points in the weak aircraft list, B00 18.40 followed in tho activca
another upside Corning Glass, feature, was third place. The jatter, which gained 20 points new baste. last week on ita material, Pyroceram, touched & new high at $99% up 7% points
52 2868
150 g 27.20 137.10
Electric 2080 30 Macao E. 9.30
277 27.10 Telephone
INDUSTRIAÈS, Cement 321 3314 STORES, ETC. Dairy 04,70 14.00 Lorie COTTONS
4.50 4.795 Nanying ... 8.46 6.00 2000 19 8.44 ausCELLANEOUS Entert
2014 INVESTMENTS Yangtze.... 4.10 Allied
KAD
Textiles
One Elevators.....
| Owen-Elinois Glome
Pacific Gas de Z500.
Pan American Airways Paramount Pictures
Parke Davis Co. Penny, 3. C. Co. Penn. Sait Co. Philip Morr Procter & Gamble Cu Pittburgh Plate Glass Pure Oll ........ Radio Corporation Republic Steel Reynolds Metal
15
en
Machine rights expine on June actuacks to the previous close,
Nearby July developed ensier tone under hedge and spot house selling coincident with a
Value Line says the prospect 233% of a better year in 1858 may be the only pleasant aspect for many building supply companies ....holds reports of drug com- panics for first quarter show that the upward sales trend of Inst year has persisted but coullons investors to reappraise them, in view of the recent sharp rise.
3749
3
Bears, Roebuck & Co, shell ou co.....
2034
in Douglas, 8% In Bendix, 2 Baint fag. Paper
United.
Industrial,
་
The industrial loss on averago amounted to 4.81 points, widest since Feb. 11, day before the
300 1450 market set its 1957 lows, and dropped that component back below the 600 mark at 499.21.
for Rats lost fractions most start, declining 82 point to 45.04, in their average while utilities dipped .10 to 74,20.
4000 BM
WORLD RUBBER MARKETS
New York, May 27. Rex rubber contract closed today 16 points higher to 25 points lower with sales of B0 the contracts.
May July
London, May 27. British Governments met a The British type of nuclear
recovery Int stocks power station has another big technical
as gerally were selling advantage. It uses fuel the comparatively plentiful London Exchange today. natural
America's uranium. fuels up on enriched uranium, a ráre material which is obtain able in quantity only from the United States and Russia. any country committing telt to the American type of plant faces shilling. the risks involved in having ite fuel supply dependent on political standing in Washington or Moscow.
ntom
Advantages
So
iLa
New canec Scares coused heavy seiling in tobacco shares, with British-American off more than 3 shillings and Imperial down more than 1 Tobacco
Good
steet
export figures helped zleel shares rise about a shilling generally.
September November
January
March May
New York Central, off nearly a point, had one of the widest changes in its group. Peoples Gas, down
was widest mover in the utilities.
Binclair Oil
Bouth Puerto Rico Bugar
Socony Mobiell
Solar Aircraft.
Southern Co. (The)
Southern National Ga
Southern Railway (Com.)
40
Standard Brands
Standard Oll of Car Sterkford Oil of Ind.
Standard Oil of N..
esp Rock (Toronto Exge.j Being Drug Co. Stokely-Van Camps, Studebaker-Packard Corp. Swift dc Co.
Time Tick
Tile Water Ass Ol Twenty Century Fox Fi
Union Die
Pacific Railway United Aircraft united G Corp. un Foun ..aypur
UÐ.. Line Co.
U.S. Rubber U.S. Smering U.S. Steel Warner Bros
Of 1,178 issues traded, 594 | Westinghouse Electric were lower, 201 bigher, 223 un- changed with 41 at now highs, 43 at new lows.
American Stock Exchange
Western Union Tel. Co. Wetworth West Va. Pulp & Paper
POPULATION
Standard & Poors Ands grow- *thing population arxi xising family poft incomes pointing to continued
increases in
demand for food products,....... sees a slight gain for chain stores in 1957 carn-
jooks ings
for Gradual 34 cloning of the gap in your-to- year rail trafic comparisons as the year prOGTCSIEŇ,-
411
03
W *E. Hutton & Co. Fily's Corning Glam Company's new baske material-pyroçeram—en- 3934hances the growth characteris- distics of the company and could 4455 | be important for the entire glass
industry." 03
pause in the recent trade des mand. The certificated stock de- clined 20 to 11,877 bales,
NEW YORK Prices of cotton futures closed today as follows:
Spot July
2014
18*1
Gli
United Fres.
Hayden, Stone & Co. Usta favoured dividend paying stocks in different price ranges that appear to indicate higher levels: Budd, Youngstown Steel Door, Sumray-Mid-Continent, ЕСТРО,
*
volume dropped to 800,000 shares New York Foreign S D. Allis-Chanalers,
from 1,010,000 on Friday,
Bond volume amounted $3,810,- 000 against $4,400,000 on Friday on the New York Stock change.
Closing Prices
31.70
31.18
31.05
30.00
30.20
Alden Ing. Acy,
Standard contract closed 15 points higher to 23 points lower with no sales reported.
May
- July
September November
January Maral
May....
Government
marked May
market
31.70.
31.10
311,00
3090
30.70
30,55
30.40
Allied Chemicals
Ailled Mile Inc. All Chaimers
erleen Airline
Am. Cabla & Radio Corp. American Cyanamide Co. Amer. & Fongn. Power Am. Osa & Electric Am. Mach. & 2"dry, American Mat
American Smelting American Sugar iter, American Te) & TE American Tob, "B" Anaconda Copper Armes Steel
In other sections there were modernte rises at the opening, but only a few were able to These factors give Britain hold gains. Royal Dutch rose substantial advantages in the 1% in un otherwise unchanged Intra-devler trading in the
export But the big oll group.
July-September deliveries att a
Const Mining Jittle evening-up in the expiring potential customers want event-
Baldwin-Lima-Elem. In the British
the Baltimore & Ohio delivery, provided ually to build their own nuclear
stelion War Loan was they stations. So
FactoryBeneficial Finance ..... power
com-up more than 17 shillings. Old business remained at a low point Benguet Cons.....
Bendix Aviation Corp. in the market for. two modities: complete alomle power Connols was up more than
with spot No. 1 Rss quoted | Bethlehem Steel
Boeing Airplane powershings. The advances followed atations to keep their
Borich (Tên Co supply problems from getting declines to new lows in Friday. locally at 31% cents a pound.
Burroughs Add Machine out of hand and technical in-
L.
Dumont W.
Company, Campbell Soup Co. formation to enable
market Canalon Fachie R. rubber broker, cornment, said 11 appears the Cape (J. 1.) Co. bears hesitate to cell because of
build their own possible.
03
are
In the foreign bond
them to
soon
12
section
Japanese lens were strong, and 引越 Germans weak-United Presa
Britain has a working station
for sule, But America at the
moment appears to be the more
willing seller of "know-how New York Sugar
even though theirs is less com.
plete than Britain's..
This was a big point In America's favour when Japan was deciding whether to buy
British
Market
New York, May 27.
Interest,
in a
Cat. Tractor Celanese Corp.
Chryster Motor Cumax Molybdenum
the reluctance of the primary 1. T. Financial Corp. markets to follow, and the bulls besitate to buy because ot uncertainty 119 to when Indonesia will start unloading"
LONDON
the Colgate-Palmolivo Co. Colomblan Carbon Co. Commercial Credit Commonwealth Elze. Consolidated Zalon Continental Ost of Del. Crown Zeilerbach Cutran, Amer. Bugar Diamond Alkal Deals Aircraft
The rubber market was slightly casier with spot quoted
at 20% pence per 1b, Prices:
or American nuclear World No. 4 sugar futures power stations. It compromised closed today unchanged to 6 No. 1 Tas week announced it points lower with sales of 733 and last
contracts. would buy one of cach.
technicians
Dru/ "Chemicals · Dupont de Nemours
Eastern Airline
Kalman Kodak
Bettlement house term July/September
October/December January/March
20-31-2044
2011-20 281zr
El Paso National Geo
2014-2694
Family Finance Corp.
2012-20%
285
Domestle No. sugar futures | April/fune closed 2 points lower to 3 - General markets, cif basis, porta:"
May points higher with sales of 4 June and July Contracts
Eslate crepe this June thick Juno AMSTERDAM
Britain is still in the lead but America has started a dangerous cutflanking movement. Against a reported plan for Britain to train Japanese
et Calder Hall willo their own World contracts prices sofien- atomic power station is beinged toward the close under realis- built, the American Westing ing after a forenoon period of house Electric International | arness trade
on Company is negotiating a nical tie-up covering the duction of atom, power equip– ment with the Japanese Mitsu- blahi Electric Company. And International General
•
The rubber market was dull covering today. Prices closed in guilders and reflecting the per kilogram, elf June as fol-
tech-operations
pro- flimer ruw situation
Contract No. 4 (world)
Electric July
1.September
is believed to be negotiating a October ***
with Tokyo March
similar agreement
'Shibaura "Electric.
Salesmanship
lows:
No. 1 rubber
No. 2 rubber
No. 1 eripe
No. 3 rubber
............... 2.68 nom.
1.66 nom. 2.43 HOME 2.10 nom
8.00 5.80-87 5.83 4.53-54 not available--United Press.
May Futr September Alpoke(Unida per 1. tob Cuba) 0.93
4.3L 4.01 4.51
事
Another advantage
Open "intera: 9,154 contracta,
thet . Ondries Áo, ở caoman26)
Ammica has is that it is able.
to offer through its Export=
Import Bank, generous, or
tarina: for the purchape, of Man atomic power stations. „Britain has no similar scheme and its mila oz is pjolest giver station.
Singapore rubber prices were
NAMESAKES
Firestone Tyre de Rubber Ford Motor
General Electric
General Foods General Motors
Gen. Pub. Util.
Getty Dis
Glidden Co.
Goodrich (B. &
Goodyear Tyre
Gulf Oi
Hayden Newport Corp. Homostake Mining Co.
Ingersoll-Hand
Inland Steel Co. Interchemical Corp. ** Int'l Thueinem Machines Int'l Harvonta Interior Nicke International Paper Int'l Tel. & Tel.... John-Manville Co... Kansas C Power & Light.. Keniseoots Copper. Liggett Mayers Tob. Co. Loocheed Aircraft... Loews Doory,
Kone BMT Cfment Co. Lowakutely de Bona McDonnell
Afrorack
Cawangan) Marne, 2. Sweden, | Strana from corp.
overtake
6.97
Wedding 7 Pior, & Publierty,
per b. sif NY
8.70
5.90
(Am.
Ex-
Exchange
Copperwold Steel; American Samelting. Union Oil of Call- Bornia. Owen-Illinois G453 Westinghouse, ACF Industries, Iron Works,
Pullman, Bath
New York, May 27. Closing rates were: Canucks
Bendix
Prezzo
England offclai
30-day
I
$17 Australia
90-day
New Zealand South Africa Dejgli
1.04-29/32 2.70-8/18 2.7014 2.raj
170-0/16 01964
-United Presi.
Exchange Rates
Business was done in the local tinofficial exchange moricet this morning at the following rates:- 1.3. dollar (per $1)
and Goulgae-United
London Foreign
Exchange
New York Montreal
London, May 27.
Closing rates were:
2,7031-2/70-3/1
2.55-268-1/1
10.08||~10,491A
11.73-11.75}{
17513-2762
Amsterdam
Copenhagen
Frankfurt 6.20 Millan 16.70 Paria 1263 Stockholm
Vianna 2820. Zurich
Sterling notch, (pog £1) Australian notes (per £1) Indonesian rupiah" (per 100).. 1000 Sea (per 100)
Singapore (Stealta)
SOUND ADVICE
04-DES 24,4334-14A536
72.61-72.00 132396-18.233, -United Press.
for the man with a sense of responsibility
Start a Savings Account this month with
THE CHARTERED BANK (incorporated in England by Royal Charter in 1888) -
3. Queen's Road, HONG KONG
INTEREST on your money at 2% per annum, compounded half-yearly, ABSOLUTE SAFETY for your money, EASY FACILITIES for lodgments and with
Detaber
December March
May
July
October
NEW ORLEANS
Spot
July
October
Decoraber
March May JUS
October
LIVERPOOL Colton future
closings, in
pence per 1b. were as follows: old contract
May/June
July/August October/November December/January March/April
Now contract
May/June July/August October/November December/January March/April
SAO PAULO
Closing futures, prices today were in cruzeiros per kilo Es follows:
July
30.20
Out
40.43
Mar
unquoted
May
40.40
In the United States, the
35.46h
33.2d
34.4%
34.40
5641
3133
34.83
132.12
average price of end-inch cotton of 14 designated spot markets was 38.93 eta
Sales totalled $1,386 bales,-
Prices of colion futures closed ["United Press.
#
*
*
*
*
P.OB.I E&A
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwards
"CANTON"
Leaves London
Salled 21/4
Due Hongkong
"VORFU"
""CARTHAGE"
"CANTON"
20h Mey
25521 June
30th May 1st July
20th July
--gard July
20th August
Via Bouthampton, Colombe, Penang & Singapore.
Homewards
"CANTON"
"CORFU"
"CARTHAGE"
"CANTON"
-
Lányan Kêngkong
6th Juma 5th July 2nd August
30th Augst
Das London
52) July
4th August
1st September
30th September
Via Singapore, Penang, Colomba & Adeb,
FREIGHT SERVICE
"SURAT"
Inda 29th May Ball 30th May
**
"BHILLONG” due 18th June
"SUNDA" Act 8th July
for Singapore, PL. Swat- tenham, Penang. Aden. Herre, London, burg, Rotterdam,
Ham- Адва
werp & Grangemouth
from UK.
from UK.
BRITISH INDIA S.N. CO., LTD.
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"OBRA"
& Strada
for JADRIL
from Japan
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from Jepan
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P. & 0./B, I. JOINT SERVICE
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