SHIPPING PROBLEMS ST. LAWRENCE ·
OF FINLAND
SEAWAY TOLLS
In August, 1989, Finland's The
merchant fleet totalled 669,000 gross registered tons, or 861 vessels of over 19 net tons. Only 6.5 per cent of the whole
consisted tonnago
of motor vessels, whereas 85.5 per cent were steam- ships and 8 per cent sailing ships. Tankers amounted to 9,400 grons
tona.
Although the avenge age of the fleet, even then, was high, 25.5 years per gross ton, there units, were a number of new mostly bull in Finland.
Owing to the war. Including the war reparationa deliveries to Russia, Finland lost, the greater part of her best ships, in all 81.0 per cent of the mer- chant feet.
TONNAGE GROWN
General Council of Shipping hos British published the memoran- dum on St Lawrence Sed- way toils which British shipowners put before the United States and Canadian Benway au- thorities recently. "The memorandum stresses that, if the full potential of the away as an economic interna lonul waterway 1s 10 be realised, three principles should
observed:
be
lion in the use of the senway.
The level of tolls should be much as to encourage traffic,
The method of assessing and kept collecting tolls should be as simple as possible.
THE CHINA" -MAIL" WEDNESDAY, OCTOBER 28, 1957.
THARE
and
COMMERCE SECTION
NEW YORK: STOCKS DECLINE AGAIN
HONGKONG Japan Invests
Good Gains In Chemicals,
Groups EXCHANGE
Metal
New York, Oct. 22.
STOCK
Our Own Correspondent Business done on the Hong- kong Stock Exchange, this morn- ing amounted to approximately $120,000. Noon quotations and the morning's transacione;
Shares Buyers Sellers
There should be no discrimin- Stocks declined for the fourth straight session today in the most active trading since President Eisenhower suffered his heart attack more thân two years ago. The high-speed reporting tickers ran late many DARKS
times during the session, with the tape a much as minutes behind floor transactions SIPPING near the close.'
Assessment
in
Tolls should be assessed two parts, says the memorin- dum, a minor charge based on The tonnage of the ship, and a
In contrast with Monday's the cargo
actually drop--the buying second-levy on Mostly by
sharpest since the attack hand ships the tonnage has carried. Measurement of vessels Elsenhower kaart
on not registered markets of September 1965 since grown steadily, but this should be
or alternatively the the flat showed number of has been very slow. It was not tonnage,
Corial until the end of 1953 that the Panama
measurement | good gains, particularly in the could be adopted,
chemical, steel, metal and rati pre-war level was reached.
wns eppreciated that groups- different rates for different cargoes may be appropriate but urged that
differential any should be related only to the nature of the cargo and not to the country of origin or destina- ilon.
By 1954 the merchant .flect way & per cent larger than in 1939, and in July, 1957, at 764,000 r.t., 13 per cent larger
1939. than in
As about only 27 per cent of the tonnage acquired consisted of new whips the average age has remained very high. By the end of 1934 it was about 25 years per gross lon,
Today this figure is just below 25 years, and is still above the average in most other
countries.
OVER-AGE
Nearly half the merchant fleet is over-age. The modernisation of older ships and replacement of vessels ready for scrapping would require the building of some 440,000 tons.
Yet hardly 100,000 gross tong are ordered for delivery within the next three to four years.
wil}
The prospective growth of the Finnish export industry and the consequent enlargement of the country'a foreign trade within approximately the same period require some 250,000 additional tons of merchant shipping, which would bring the total of new construction needed to about 700,000 gross tons.
CORRESPONDING FIGURE
The use
of the seaway for general, or package, cargo would be seriously prejudiced if the level of tolls for that class was fixed disproportionately high in relation to tolls for bulk car- goes. It was pointed out that troffe will be very sensitive both to the level and adjust- alternative ment of toils, as
readily forms of transport are available.
FREEZING FISH
AT SEA
London
Experiments by the British Department of Scientific and show that Industrial Research
it is technically practicable to quick-freeze whole white fish nt in converted modern sen trawler.
It
The freezing operation can be handled by the crew and tesis of the fish show it to be kultable
Middle East
Middle
dax East tensions, selling, some unfavourable carn- less invou- ings reports and abio econemle forecasts 1! played a part in the selloff.
Edxkett Meyers Tob. Co. Lockheed Alteraft
Loews Incorp. Lone Star Lement Co, Lowenstein & Solla,
Morrell Aircraft (Am
Stock EX Cort
Mesabi frosi
binnesota Mining Minions Development Monsanto Chemical Co. Montgomery Ward
Motorola Ine.
National Carn lieg. National Dairy Prod.
tallonal Lead
National Steel Corp. New York Central
Norfolk & Western Ry.
| Olin Mathieson
Oils Elevators
Chen-Jilinols Gines Oxford Paper Co. Preille Gas & Elec.
Late in the day' a rumour- intar dented that trouble had an American Airways broke out in Syria, touched Parent Pictured of another wave of activity.
Some of the best gains ap- peared issues not used to compile the averages.
Sales Rise
Sales for the session rose to 5,000,000 shares, the first time the five million anark was top ped since Sept. 27, 1955, when volume hit 5,500,000 shares, Monday's total was 4,070,000 shares.
The closing Dow Jones averagos showed industrials clown 3.27 points to 418.79 - lowest since May 16, 1955 and more than 0.44 to 107.21 new low since June 8, 1934, alles down 0.78 10 G2.10 lowest since Oct. 20, 1056.
The 05 stocks average cloood off 1.12 at 142.49 lowest sine December 2, 1954.
Broadest Session
|
Terny J. C. Co, Penn san Co. Philip Morzie Pittburgh Plate Olani
Publicker Industries Pure Oll
Radio Corporation Republie Steel
Reynolds Metal
SCATE..oetruck & Co. Sabit
Paper Sinclair
Sorony Mobilall Solar Airemft
South Puerto Rico Bugar Southern Co. (The) Southern National Gas Standard Brands Standard Oil of Cal Standard Oll of Inn Standa
Ou of NJ. Rock (Toranto Exge.) stering Drug Co. Stakely-Vap. Camp.
Sunshine_Mking Studebaker-Packard Corp. swint & Co.
and Texas Co.
The Water As, Oll Textron Inc. Time Inc. ATLE Twenty Century Fox Film union Oil of Cal. Unton Corbide.
A total of 1,200 issues were traded, making it the broadest
New Swedish merchant ton- for Beting, smoke curing arid nage at present ordered for de-normal handling and distribu- livery in the period 1957-1961 ton. amounts to 020,000 gross tons,
At times, however, the thaw-avesion since December 31, 1950, The corresponding Danish
and the ed Ash lack the "bloom" typical of these, 720 declined, 313 ad- Agure is 480,000 tons. Norwegian no less than 3,880,-of top-quality iced ash and
vanced und 218 hold unchang | some Ash from certain voyaged. New Lows were set by 570 Of the latter total 1.3 mil- do not smoke well.
issues lion tons have been ordered in
While it is not possible to be high, and one issue hit a nu
000 tons.
the current year!
In the composition Finnish merchant flect there freezing
of the definite about the economies of fish at sa it seems that if the fish are probable bigger supply,
has, however, been a consider held in store for times of short able change for the belter, n
the higher prices
development towards
units and towards
JEL
the proportion
an increase received should normally cover the higher costs of production
of motor
Vessels at the expense
steamers.
ATOM SUBMARINE
OIL TANKERS
London
of
and storage.
HONGKONG FOG. PERIODS
A total of 4,275 inward bound and 4,393 oulward bound vessels Tests are being conducted in (including Nayal vessels) were Britain with stream-lined model reported at Waglan and 2,500 vessels to establish that big sub- of this total were signalled by marine oil tankers propelled by flash lamp says the Director of All Marine's nuclear power, are possible as
annual report, very economic means of messages were relayed to Hong- transportation."
kong by RT for the informa- Remarkably high speeds-uption of shipping companies and to 60 knots are believed to be others interested in shipping. practicable.
During the year there were
The idea of taking the oil 30 periods of fog at Woglan and tanker under water 14 coin- Tathong Polat and fog signals
Little at- paratively novel tention has been given to the were sounded for 168 hours 25 ark 101 principle that a submarine built minutes at Wagian
hours 35 minutes. at Tathong Paint, The fog bell at Kap Sing was founded for 118 hours
entirely for peaceful use, pro pelled by nuclear power, could
well bave revolutionary 15 minutes during the year. economic advantages.
Eight models, in ali are to be built for hull testing.
U.K. TO SUPPLY
EXPERT ADVICE
London.
FRANCE BUILDS
ATOMIC SUBMARINE
· Paris.
NY Stock Exchange bord volume was $8,040,000. American Stock
Exchange volume was 1,880,000 shares.
Closing Prices
Aldon Inc. Acy. Allied Chemiemta Allied Mills Inc. All Culinars Am. Brake Shoe American Airline American Cable
Corp
American Cyanamid Co Amer. &- Forgn, Power Am. Gas Electric Am. Mach. & P'dey. American Metal American Smelting Am. Bugar. Hef, American Tela Tel American Teb, "n" Armoo Sleek
Armour... Allas Cons, Mining Baldwin-Lima-Ham. Baltimore & Ohio Hendra) rinnon, Bendix Aylation Corp. Benguet Cochi
Bethlehem, Steal Border (the) Cơ,
Buroughs Add Machine Campbell Soup Co. Canadian Pacific R.
Cam 15.1.) Co. Cat, Traciof Colaboro Corp....... C.LT. Financial Corp. Chase Maihatian Bank
Chrysler Motors ... Climax, Molybdenum Clue Peabody Colgate-Palmolive' Ca. Salonbin Catbon Do. Commercial Credit Commonwealth Zinc: Consolidated Exter Contihemes Oll of Del. Crown Zatierbaktı Coban Amer. Bugne Diariosą Alkall Dimond Metch Co Drogis AircrËL Dow Chemloste..... Dupont de Nemou
Developinent in the abolero to ....
kosainku Kodak
Radio
energy field is announced lil the appro National Ga Britain has agreed to a res report of Chantieret Ateliers my Franes Cu quest by the Indian Government de Salt-Nazaire, the Frenchton Tyre & Rubber
stripbuilding company, presented Ford Motor for the supply Under the Caldinho Plan of expert advice to the rectat annual meeting in
Patie
OMSAL DSutt la
Ganerai Food
Gen
on reincaying congestion h Indian
In có optalin) lh thờ d The ŵ has announced French
naval Autorites. that Bir Erla Milbourn,, adviser research, continues in. Stòmic ade on shipping in port to the propulsion for sulitharties. A Minister of Transport and Civil confedet båt been placed with Aviation, will visit Delhi about the empahy, but the, mupply. Ingersol the end of this month to take the reactor and wat exkhaingo part in, discussioris.
The Indian Gevollment's res
unit
Habat followed ainetta” – Jis The company' iš alid janji Delhi of the Cotalliative Come in a project to mapply i thinker mittee of Bhipping Interests, with a nuclear power wilt,
737
tinion Pacific Railway Unlled Aircraft *** United Gas Corp.
9. Foil "D"
[1.9. Gyolum
| V.9, Rudber
US Smeting
U.8. Stet...
Warner Bros. Westinghouse Fleckle Western Union Tel..Co. West Va Pulp & Paper Woolworth
2
HH Bank
Wheelock
DOCKS, ETC.
Wharf
B-43
Bales
10 000
8.70
120
Provident 1114
LAND, ETC,
In Brazil: "A Safe Field"
Rio de Janeiro, Oct. 22. Japanese investors with exportable capital are looking toward Brezil as ú safe, fertile field in which to platit their cash.
While Industrialists of some ather capital exporting notions
adopting aro attitude on
WOCS
nwall-and-sec invest- Brazilinh ments because of this country's the present financial Japanese are plunging ahead in many fields.
Japanese money is as welcome 200 309 here” the 7,000 immigrants who settle.In Brazil cach, year.
Whille the immigrants mostly farmers, the cash is go- 125 6000 a 129 ing into industry to create jobs
TX Hotel ** 14.40 14.70
12 Land..
182
Humphreys
2011 RUBBER
14 Amat
Trust
UTILITIES
14% Star Ferry..
89% C. Light
́pay1⁄2 | Elextric 17 Macao arty Tel.
INDUSTRIALY
23d Cent
23 Rope
70
Watson
16:20
1.50 1.825
10.00 37.DO
10.40
20.70 20.90
125.00
34.00
STORES, ETC,
1200 13.10
13.80
235
6.05
351
COTTONS Texule
4.30 4.40
L Crow ginoore
si Emporium
281
20
854
1474
Pre
Canada's Agent In Hongkong
On Routine Trip To China
INVESTMENTS Yangiozo
0.43
:
are
on
for native Brazilians and reduce 500 a #00, the country's dependency 160 o stimports. 100 18.0
20
Steel Plant
LONDON STOCK MARKET
London, Oct. 22. Maikbts had a very ragged day, due mainly to Wall Stred's very hoory full yesterday.
NEW YORK
COTTON MARKET
Now York, Oct. 22. Cotton futuros continued to
·THER upward today a trädofy fook -di‹ ¡hcreas- ingly dim view of the crop picture.
Prices reached the highest
level in almost three montfan
with the early 1935 deliveries crowding up to around the 35- col time.
יי
"Going ranged up to 70 cents a halò, Bul day trader realisting at the close shaved a good part of the rise. At the final gong the general list was unchanged": to up 2 points. The market opened up 2 to 3 points. New Orleans {closed up 4 to off one point,
FACTORS
Metóra In-
Price bolstering cluded: 1. Further unwanted Įruins over central and eastern
belt vections; 2. Resultant Adres " Rolls-Royce ppened with of a further culback in produc- fall of 5/- but litle buying to prospecla; 3. Overhanging during the day cute colné fons of an early frosts 1. 12428.00
The most important Japanese
to 27-. Hudsons Bay ended probability enaciment of works is the with a net joss of 6/3: Unilever any now legislation In Ume to 500 64 28,70 project in the 100026.00 construction of a 30,000,000,000 N. V. lost 2/9 and Unllover 2/apply on the 1958 crop.
(b) cruzeiro (600,000,000 dollar)
Royal Dutch foll 10/- Shell
Memphis accounts were sellers Gerais in Transport 3/0, British Petroleum on Balance in the May delivery, steel plant in Minor partnership with the Brazilian 3/- ong Canadien Eaglé 3/8,
making
offsetting purchaseà, in government and a local com British Governments bail
the March and July contracts, 300 15.90 bike.
halaty lot rises of £1⁄2 or Commissioh houses and mill in- The Japanese Investors, which but many well-knowns
were treats were buyers on balance. 1123 a 2.35 will include the Yawata steel unchanged despite the strength
The goverment weekly crop sammary proved unfavourable. the main areas slowed maturity opetting of the crop, retardal of bolls and reduced the” grado in some area.
4138.00 company, the Fuji-steel com-isplayed by sterli general Cool and showery - wentä ver
New York Rubber
Market
New York, Oct. 22. Rox rubber futures today closed 19 to 35 points lower with sales of 125 contracts: · Closing prices:
40
pany and the Nipon Steel and Foreign bonds in Pipe company, will supply per cent of the monicy.
The plant will begin producing within three years although it will not be completed until alx years from now.
Bw an exodus, especially the Japanese. The non-assentedia of 19072 tumbled. 2311⁄2 while the asserted fell £1. Several non-assenteds fell £% as did also several of the assenteds, The non-assentets of the Dawes and Young Loun, lost £; odd spot was the selling of the Potash assenteds which caused both to fall £2.
In Texas, pleking was bear a stands because of rains and muddy fields.
was Harvestlig
reported ubout 70 per cent completed in North Carollha sind 90 per cent finished in South Carolina,
Final building plans have al- ready been sent to President Juscelino Kubitschek and gov eminent, approval is expected to He forthcoming, during October. *** Textile Machine Premium for dollar stocks
foll 32 to 85 per cent.United Ma Press.
Elsewhere the. Howe machin
Invest cry, company plans to
a textile $1,473,000 to bulic machinery manufacturing plant. Two Japanese textile manu Nov 20.00; Jen: kk70; Mat: zaed,facturing firms have been in May: 38, July: 20.30: Sept: 20.70 pperation here, since 1955 while Nov: 28.65.
the Kurena opinning company Standard contract closed 19 lb of Osaka wäl soon begin build-
85 paints lower with no sales ing on 8,000-spindle factory In reported,
Nov:sst.co: Jan: 28.70 Mar: thes: By: 29.85: July: 20.10; Bept: 28.70; Nov: 25.05.
São Paulo,
the
Already established are Toyobo spinning company with 10,000 spindles and the Kanebo 14,400 spindles. company with Together they produce 16,500,000 cruzeiros worth of fabrics per
Easiness reflected the further
decline. stock market
plus lower London cables and the lower consumption figure for September. New rubber use month.
last month in United States of Jeep Factory 120,600 tons was down 3,301 tons, from August.
CX
New York Sugar Market
New York, Oct. 22. World No. 4 sugar futures closed today 3 to T1 points lower with sales of 130 contracts.
Domestic. No, sugar futures
Volume
Dec.
12,409
Mar.
1.200
May
July
20,800
Total
Open Interest
11800 2208,000
NEW YORK
200
149,000 báles
filures
Prices of cotton closed today da, follows;
Spot: 23.100% de 24.61 1ay: 14.1: July: $4.51; Oot:
3.5: Dec: 33.31: MAT: 33,00.
NEW ORLEANS
Prices ht cotton futuses closed 1 point lower to 4 points closed today na follows:" higher with sales of 82 contracts.
Sput: 3323 Dec: 34.54; Mar; 34: Eariness in world contracla | May: 34.831 2019: 34.31; Det: 21.00; was asociated partially with Dee: 33.60; Max: 31.03. reposts cf. market price. Dealers
O
LIVERPOOL
Colion future closings,
DKUNDE: contract Pence per lb. were as follows: Dec/Ja: 23.17 PE May/June: 580) JUNYRAFIE: 28.07.
Now contractor: 36-32: peen: 2010: ECADE: 30.38; May/Jura: 36.50, JulyAuE 20.00.
SAO PAULO
In the putomotive held the understood Holland entered the Syntheile ratio moved up to royota Motor Company has re-market late Monday and Lought 64.02 per cent, fighest for any ceived a licence to manufacture 22,000 tons of Cubas, February- month since withdrawal of
six-cylinder Jeeps here and March shipment at 3.55 to 3.56 government controls.
Shipment business was cure now looking for a site to locale. cents a pound, fo
The Japanese Gyogyd fishing
Tomorrow, the Sudan is ex- talled by the Singapore hell company began casting ita nota pected to be in the market for day.
of refiner In Brazilian waters ils year 3,000 tons
sugar, of the trail-Burma will Inquire for a cargo Offering of three ribs, to-after the success portedly out of Thailand, were blazing Nippon Lazer company of refiner and Syrin for 8,900
tons. to 9,000 tons of ruws. made for Oct/Nov. shipment with headquarters In Recife.
All prices of cotton future Contract No. 4 (world): Fan: 3.70; at 274 cents, with buyers Gydgya's first catch of 40 teas here running about tons in southern waters evoked Mar: 347: May: 1.56: July: 356 elcaings were uniquotoa,
Sept: 3.08 Oct: 3.37; Mar: 3.7? In the United States, the cent under the
Spot-teenis per the tol, Cuba); 4.95. ↑ average price of ank-inch cotton market. Spot predletions from Brazilian
Open Interest: 4,003 contracts. No. 1 Rss was quoted at 261 ports that its success will force de in Rio
Cantract No. 6 domestic): Nov: at 14 designated spot markets conis, nominal
down lah.prices Janeiro and Sao Paulo when its 347: Mar: 543: May: 380; July: 656: was 33.68 cents.
Total sales at these markets. Sept: 843; Nov: 5.03. by Open interest: 53 contract were 56,102 bales-United Press. fone ship Li augmented
United Freas. The rubber market was easy others en route. Churchill, told the House with spot down 5/10 perce of Commons toddy that per lb. Prices: the coming trip to Peking "Settlement house term: by Canada's commercial Nov. agent in Hongkong, Mr SamAY. Forsyth Smith, was Abr./June routine mission concarnad | Det Dec. with trudd, and mainly with Canadian exports, to Nov. Ching.
Ottawa, Oct. 22,
The Canadian Minister of
Commerce, Mr
Gordon
Informa clrcles here pointed! out that this is the first time ance the Korces war thit va Canadian official will have visited China
official business.
RECOGNITION
Churchil told the House that
Forsyth Smith would stop. In
Dec.
July/Bept,
LONDON
Exotic Touch
To give Japanese Investments 24-24pn exolfe touch, Japanese cul tured pearl king Ishiro Taka Shima rectiitly toured Brazil to of producing study possibility pearls here. However he found the plan to be unfeasible.
General markets, de basis, ports Det.
Dec Patate crepe thin Nov, Entato crepa thick Nov.
AMSTERDAM
23%
Several smaller Japanese pra -4%fects are presently under con-
sidération, Sources at the Japan
said there ese embassy hère would be more if it weren't for Tho rubber market was very strict Japanese controls to Euch oullow of Investment quiet. Prices closed today in the guilders per kilogram, die Nov. money-Uillied Press, jas follows:
No. 1 rubber
nom.
No. 2 rubber No. 3 rubber
No, 1 crepo
Cuniued Press.
Feking, Tientalo, Canton and Exchange Rates
Shanghai and that he would study, the prospecia.' for delitog Canadian wheat.
Business is donar
morning, at the goldwing
Premter John, Diefenbaker 13. deur Day
| replied in the, negative to
P.
question whether, recognition of
Chinn by Canada. would not
contribute more to,the, devát | angaNOTE (ERIEREN) loptent of Canadian Chinese trade,
The Premier emphafed recognition of Chilla by Britain
đổi, had, sipt - been of any advantógé
to. Bfliish exporters.
Peking regi
طبيقية
Answere
idt. *. Table
AKES
Begunda, 13. Poetry, Ained Terinyso
New York Foreign Exchange
Closing te wete: Eagtand oficial
P&O
R.M.S. "CARTHAGE'
SAILS:
NOTICE TO
BAGGAGE:
PASSENGERS
Thursday, 24th October, at 12.00 Noon for the UNITED KINGDOM, vía Singapore, Penarik, Colombo, Bombay, Aden and Port Said.
+
Passengers are requested to sond ALL BAGGAGE to the Hongkong d Kowloon Wharf Co's Godown No. 2 GATE CANTON ROAD ENTRANUD, By Noon on Wednesday, 23rd: Octo ber.
SPECIAL NOTE: With the exception of hand packe
ALE-BAGGAGE must pats. the Wikit Company's Godown deading on board by ship's alinga on
JARKATION: Füssengers, should embark betr
9.ro And 1,00 a.m. on 24th Octul