Page
SHIPPING
"SUPER COLLIER" NEW SERVICE
FOR THE U.S.
Now York.
FOR BANANAS
Los Angeles.
THE CHINA MAIL, WEDNESDAY, OCTOBER 30, 1957.
TRADE and
COMMERCE
Parö 9
SECTION
JAPAN RAW SILK MARKET TO EXPAND
erense in banana imports NEW YORK
A. "auper colller" that will A 40 per cent annual in-
unload itself at the rate of one ton a second, with- out raising any dust, has been ordered from New- port News Shipbuilding and Dry Dock Company by the Pocahontas Steam- ship Company. It is scheduled to be delivered by October, 1953. Pocahontas Steamship
through Log Angeles Harbour is forecast by the port's Assistant General Manager John F. Parkinson. Renson;'s now weekly service between here and Ecuador.
thun 17,000 stema of green bananas-each weighing aboul
The M/V Balno, flying the Norwegian flag, Inaugurated the be-service when she docked Jarl lleves that the 24,000 dead-week at Berth 147 with more weight tons collier will reduce greatly the shipboard and on- shore custer of handling cont. The vessel will be twice as big bs those traditionally used the coal-carrying tritic of the Atlantic Coast.
152
Speciul unlonding gear to be built into the vessel will permit it to discharge its cargo at the rate of 3,600 luns aur hour, or
|
76 pounds, cach packed in a plazile bug.
The entire shipment was un- landed in nine hours, thanks to special gantry conveyors that reached deep into the Baloo's i&felgerated holds and, by ment of endless belts, fransported the perishable frult dockside and to
SHIPMENTS
In less than seven hours. Con-waiting refrigerated roll cars. ventional colllers of 11,590 tone take nearly 50 huurs to un lond heir curgo, at the rate of 900 tons an hour.
The ship will be 835 feet (210 metres) long, will have a beam of 75 feet (25 metres) and will draw 30 feet (10 metres) of water. She will resemble bulk carriers
Great used in the
come
COTTON
MARKET
Cotton
Now York, Oct. 29.
Prediction By The Leaders Of Silk Industry
futuros resumed Silk rallying tendencios today, retracing about half of the ground lost on Mon- day's closing slump.
Gains
ranged up to around $1.75 a bale on new erop de fiveries before the market levelled off a little under crersed bedging and technical realising,
in-
At the close the list ruled up
4
New York, Oct. 29. industry leaders from the United States, Great Britain, Japan and Switzerland yesterday joined in pro- dicting an ever-expanding markot for Japanese raw silk in a joint press conference in connection with the sixth International Silk Congrass which got underway here recently.
New York Stock Market
Substantial Gains Scored On Increased Activity
New York, Oct. 29.
́Stocks scored substantial gains on increased acti- vity as investor confidence was bolstered by Monday's resistance to selling pressure today.
Late realizing brought cles- Southern National GII
Southern Itallway (Com.) prices down from the day' Standard tranda more than enough to cancel the Monday's loss.
best levels but the net rise was Standard Oll of Cal.
18 to 24 points net. The market These delegates generally forecast a revival in silking
use in such categories, as women's wear, men's fashions, shoes, hats and accessories, lingerie.
opened up 10 to 31 points. New Orleans closed up 26 to 39 points.
i
Underlying support stemmed
Strong hots were held for from several directions: 1. An
Frenter unfavourable government week-
use of slik in blends ly crop
Eummary; 2. Planer with such maples as cotton and indications that the government wool. There was less optimism, crop report-due November 8 however, hout regaining mpy show a substantial reduc-market in ladies hosiery, tion from a month ngo; 3. largely reempted by nylon, Middle
One delegate said he was that the projected temperatures "optimistic"
The now
New York Rubber Market
According to Parkinson, the new servied will be operated by the Andes Fruit Company which expects to bring 900,000 stems DI 30.480
of bananas fores this huge port in the through next 12 months,
Shipments will
from Lakes trade, with propulsion Puerto Bolivar and Guayaquil, machinery and main deckhouse Ecuador, ports near the com as far afi as possible, and se-pany's banana plantations..
The And imports, he suld, condary dvekhouse patr
will augment those of the United | certainlles. bow.
Frult
Below normal Co., which brings in from 2400,000 stenas A year
and rain on two to three days 10-15 per cent in Japanese row Conta Ilga
and silk production could be easily Ronduras and interrupto harvesting Panama,
caused some reduction in grade consumed in tornational mar. with sales of. 73 contracts. in New Mexico and Arizona kots. during the week.
Cargo will be discharged
יזth
by
feed
a 250 feet (30 metres) boom conveyor. It will be loaded into the holds by Kraylty through 14 hatches,
Pocahontas states L will super colliers build additional as fast us coal-consuming plants Are bulls or adapted to cope with tham on the eastern sea- board.
VARDA VISITS HK ON MAIDEN TRIP The Pacific Orient Express Line's newest and largest m.a. Varda- left ship Hongkong early yester- day for Kaohsiung after visiting the Colony on her maiden voyage. After Kaohelung, the 10/ Vardo is scheduled to sail for
The Varda
|
The white ships of Unlted Fruit Arrive at the Port of Los Angles twice i+ week your round, Parkinson explained.
"NURSES"
The Andes Fruit Company, which serves as both shipper and importer, sent its feat fend, t banwax to jobbers throughout California, Arizona, Utah, Idaho, Oregon and Washington.
Euch shipment was accom- panied by a "nurse" who care- fully watched and regulated the A variance cars temperatures. of two degrees can be highly Zamaging to green bananas.
The M/V Balao was built in
IL Drammen, Norway, in 1952. ir owned by Gorrissen Klaveness, Üsin, and lesscd to The Andes Fruit Company for 10 yents.
Two other felgerated freigh- fers in the service are the M/V Vera and M/V Sufco. Two addi-
East
political
1151-
for
In California, picking made generally favourable Kene except
progress
Delegates
slight interrupilona
Progress
from 13 countries 57- group
by scattered showers. About 25-including
לב.
Standard Off of Ind
Studebaker-FATD.
Mensured by
the averages, Industrials were up 3.62 points at 435.76; rulls off 09 et 111.14; | Swin & Co. utilitics
14 at 64.55 and the 45 stocks generul 'average up .78 at 147.00.
Of a total 1,133 issued traded, 550 were higher 328 lower 259 unchanged. There were no new highs set, 41 new lows,
Texan Cu..****** ride Water Asin, O Time Inc.
Twenty Century Fox Fim
Union Carbide
Union Pacific Railway
United Aircraft
United Gas Corp.
U.S. Foll "E"
U.B. Gypsum
.5. Llac Co.
V.8, Rubber
Binelting
rates! **
Westinghouse Electric Western Union Tel. Ca,
New York Foreign Exchange
HONGKONG
N
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock
this Exchange morning amounted to approxi- mately $277,000. Noon quota- tiona and this morning's transactions were
NILAPTO
BANKS
Bayer Hellera Suder
HK Bank 097.3 832.5 DO A 230 INSURANCE
Lombard... 021
SHIPPING
70.4 100 2 77.5
Wheelocks 6.00 0.12)
RUBBER
2106.05
200 62
11.70 12.10 500 11
Telapione INDUSTRIALS
21 250 @ 23
ሀሩ DO 200 95
15.70
10.60 $850 1500
n00 18,70
21 27.10 1,700 22.10
23.00 14.00
10.28 16.30 2,000 m 10,20
13.20
1,100 1120
2.55
Watt COTTONS
Textile
4.30
Narang...
3512
Union
40
30
Standard Oil of NJ.
5314
DOCKS, ETC.
Steep Rock Toronto Exge.)
10
Dock
Starling Drug Co. Stokely-Van
ம
'viden
LAND, ETC.
HK Hotel 14.70 14.00
1500 a 14.70
10%
1000 14,7D
1012
500 of 1430
UK Land..
*3X
34
150 34
24
Humphreys
18.10
Healt...
1.45
231
AITONE.
... 1.47 1.8215 5,000 o 13å'
254 Trust
1.15 1.20
82
UTILITIES
301 / From ...... 22 00
New York, Oct. 20. Rex rubber futures today
to 30 closed 16
points highe
2314
Star Ferry..
005
Yaumati
2734 | Č. Ligh
50%
Nov.
28.001a
Jun.
20.356
Met.
28.306
May
New York Stock Excharige band volume was $4,740,000,
American Stock Exchange volume was 600,000 shares.
Dow-Jones closing averages
30%
Klectric
27.30 27.M
561 Metre ...
10 40
514
West Va. Pulp & Paper Woolworth
34
Cemen
30%
are
July
20.37h
were:
-United Prods.
STORES. ETC.
Sept.
20.30
Dairy
Nov.
28.237
20 Industrial
433.76
Standard contract clored 15
20 rails...
$11.14
18 ulifics
84.58
to
30 points higher with sales reported.
no
BS stocks
147,90
40 bonds
B484
Comm. future price index..
157.28
Nov.
26.25
20.25
Closing Prices
28.30
28.30
Aldeo ine, Acy.
1512
FRANT
Conoda
Allied Chemicals
Allied Mills inc.
271
England ometal
Austraila
Allis Chalmers
24
New Zealand
40%
South Africa
1342
Bolgtum
Argentina
3014
India
2102
Paklatah
2104
212
Others, unchanged
20
LONDON FOREIGN
4012
23
Closing rates were;
73
Now York
Montrent
2.00-2.08%
471%
Amsterdam
12
Brussels
1011
Frankfurt
10
Milan
34
1724
Stockholm
Bendix Aviation Corp.
4544
Vienna.
Benguel Cans.
S
Belenen Steel
40
Boring Airplane
31
Borden (The) Co.
per cent of the crop is harvest- from Japan-were on hand for od in kings ruunity. Reports In-the five-day conference
olmed dicate le damage from pre-at promoting the use of all vlous showers in the state, the Representatives from both gov Government report added.
Jan. and Industry from Month
js
Mar.
May
July
Bent.
NOV.
crnment
sericuliuro Open Interest Japan-where
vital to the national economy.m are headed by Seij! Yoshida, President of Japan Silk Associa 1lon.
Volume
DN.
20.000
10,500
Mar
21,000
221,600
May
PKAR
777,000
July
14,100
127000
Oct
18,300
187,400
Dec.
+500
37,400
Mar.
$5,500
Tole!
400 181,000
*D02,000 bales
George Elisogen, President of the International Silk Associa-
Slendir tone reflected buying en, technical reasons encouraged partly by the improved Landon
New York Cottontia (USA), outlined the "great ebbles, i higher stock market
Prices
today as follows: WES
Canadia
designed
especially
for and built trans-Pacie trade by
the ber
timal ships for the service ure now being built in Holland,
Oslo, Norway. and
ALMOST 1,000,000
owners, Ditley-Simons en Lines,
maximu
Her equipment Insure furnishings
comfort for erew as
well as passengers,
Her navigation gear and pro-
pulston are
the most modern TONS TIED UP
according to the
Los Angeles
agent, General Steamship Co.
Dead weight of the vesse! is 13,380 tona. A cargo capacity of includes .080,420 euble feet
38,670 euble feet of deep tanks for bulk quids.
NORWEGIAN
Norweglun
nap-flying The Varda is mastered by Capl. D. Valsgward of Kristiansand. Her chlel engineer is L. Rusness of Stavanger,
Tokyo, Oel, 30. Tonnage tied up in Japanese climbed near the ports today
Japan's mark one rallon wurs! maritime strike an history moved into its fifth day.
The latent reports said that a 12 vessels including total of both ocem-going and coastal ships were idled up as of mid- night Tuesday,
Total gross tonnage of the
reported as line ships was Hertens.-United Press,
The Varda's entry 121 P.O.E. service gives the three modern motorships. predecessors, the Ventum and Vigan. also are under the flag of Norway with Oslo their home port.
other numerous Norwegian togships, the P.O.E. trio will not return 10 their home port.
Like
On her first of many calls to
Los Angeles Harbour, the Varda took aboard 500 tons of copper wire, printing paper, tin plate. email machinery, kitchen wares and general cargo destined for the ports of Manila, Hongkong end Yokohama.
Spol
Det.
Mor.
Mny
July
Oot.
Dec.
Mar.
35.3511
14.04
י
34.78
23.44
33.34
13.51
progress being made in the slik industry in recent years.
Ile said: "Only 26 years ago, Prices of cotton futures closed the use of slik in men's clothes,
was out of the picture,"
"Today, however," he added, 33.10-10 this market has really taken o 35,17
strong holi. In fact, in look- gat silk's future, I will even Ro further.
I see expansion in other Belds. In lingerle, for xianple, which nylon has re- placed to a certain extent, thera has been a prominent revival within the past two years," As for silk recapturing the hostery market, he said he was "not optimistic."
NEW ORLEANS Prices of collon futures iosed today as follows:
Spot
Dee.
Mar,
May
July
üt,
Dee.
Mar.
$3.75
23.03
25.10
34.73
13.62 13.03
KARACHI The market was steady today, Unconfirmed rumours sal Rus- sin is going to purchase from this market, 5,000 to 6,000 bales. This, together with the upward there trend in New York, was helpful 420,933) in arresting further declines for the present monent, Prices closed today in Tupec's
per muund us follows:
NEW DREDGER
Luebeck, Oct. 29. The 13th floating drodger tuilt
by the Indonesia
shipyards,
for Orentsteioyaloppel
4F Sind rolice gin
200F Sind
roller in
BAW ..
200F Punjab roller pin
89/
02/%
/
83/-
closings,
In
LIVERPOOL Cotton future
the "Semeru Roem 3", left pence per lb. were as follows: Luebeck today for Djakarta. The
Old contract Ogl/Nov: 25.35; Dec/Jan 25.30; dredger was
25 52 Mar/Apr: taken in tow by
May/Jura: 25.07: July/Aug: 23.70. the Netherlands Ocean-gving Now contract OCUNov: 4020;
Dec/Jan:
Mar/Apr: 20.15:
10.30; tug "Loire"--France-Presse,
May/June: 2.40: July/Aug 26,15.
ĐÀO PAULO Cotton future closings, in cruzeiros per kilo were a fol- lows:
Moments before leaving on her maiden voyage from Los Angeles Harbour, the Varda rests at Berth 320-B in the early morning light fog.
Nov: unquoted; Dec: unquoted; Mari 38.10; May: 40.10) July! 4029; Oct: 40.40.
United States, the In the average price of one-inch cot- ton at 14 designated spot markets was 33.75 cents.
Total sales at these markets were 71,210 bales.-United Press.
PARIS BOURSE
Paris, Oct. 29.
The aggravated French now, rite in gold and foreign currencies on the Paris bourse.
cabinet crtals today caused a
"The future of silk is favour- abla," he added. "We will con- tinue to make great progress."
Expansian
Sir Earnest Goodale, of Great Britain, sold he looks for a modest expansory" in the use of silk in Great Britain: Ho pointed out that before World War II, about 30 per cent of Great Britain's consumption of 6,000,000 pounds of raw sük went into ladies hosiery,
This market has been largely lost and now only "a small amount" goes into this category. However, he added same major Brush stores have been concentraling on promoting the use of silk in men's fashions and remecting with some suc-
CCSS.
:
Robert H. Stohli, of Swizar land, based his opinistle fore cast for silk on the changing fashions in women's clothes.
Paris Fashions
"Over the past few
years,"
he said, "the fashions emphasis.
ed the hard and stiff goods, which meant that more cation
and stendiness in other neigh- bouring commodities market. However, about of the trude พฤศ represented intra-denice exchanges of July contracts for physical rubber,
Factory demand in the de- livered market remained quiet. Shipment offerings were still too high to Interest local buyers. Spot No. 1 Res was quoted at 28% cents..
SINGAPORE
Am, Brake Shoe American Airline American Cable Radio
Corp. American Cyanamid Co. Amer. Forgn. Power A, Gas & Electric Am. Mich. & pány, American Metal ..... American Smring Am. Sugar Nel.... American Tel Tel American Tob. "E" Anaconda Copper Ames Steel Armour
Ats Cons. Mining Baldwin-Lima-Hani, Baltupore & Qig Benedicial Firmance
The market opened lower re-Burroughs Add Machine
lower trend Campbell Soup Co. flecting overseas and stendied on short covering Case (J.L) Co.
Canadian Pacific A,
and for interest.
Future closings were: No. 1 rubber per 1, Nov. 30
Dec. 80-EOP No. 2 rubber per 1. Nov. 79-3013 70316-77 No. 3 rubber per lb. Nov.
737-7336 No. 4 rubber per 10. Nov.
80%-80 Spot rubber untaled
00-71 Blanket crepe
06-54
Nr. 1 pale crepe
LONDON
The rubber market was quiet with spot quoted at 23.13/16
Prices: pence per tb No. 1 Fårs spot Selbernest house term:
Dec.....
Aurum
233-2931
Jan/Max
July/Sept.
Del./Dec.
24- 2435-2431 24-2400 General marketa, el bonis, ports:
2321-231: Dot.
231-233% Nov. Dec.
Malate crape thin ungucted: thick Nov. 26-Urifted Preme.
New York Sugar
Market
Cat, Tractor Celanese
C.I.T. FARncial Corp. Chase Manhat. Bank Chrysler Motors... Climax Molybdenum Cluvit Peabody make Colgate-Palmolive Co. Columbian Carbon Co Commercial Credit Consulidated Edison Continental Ou, of Del. Crown Zellerbach... Cuban Amer, Sugar Dinmond Alkali
125 Diamond Match Douglas Aircraft Dow Chemical
Dupont de Nemours
Eastern Abrilne
Zartman Kodak
El Paso National Gha Family Financa, Corp,
Tubber Firestone Tre Ford Motor Generel Electric General Fooda General Motom Gen. Pub. Um, Gelly Dil
Gilikten Co. Goodrich (B.C Goodyear Tyre Gulf of
Heydon Newport Corp.. Homesake Mining Co., Ingersoll-Hand
Inland Steel Co.
Interchamizal Corp........... Int'l Business Machines fei Harvester..... faternational Nickel international Paper Int'l Tel & Tel John-Manville Co.
New York, Oct. 29. World No. 4 sugar futures Kansas C. Power & Ligh
Kennecol Copper closed today 3 points Eggett Meyers Tob. Cu. lower to 2 points higherckheel Aircraft
Incozyi. with sales of 140 con Lone Star Cement Co.
Lowenstein & Bona tracts.
NeDonnell Alretori
Block Exge... Mesabi Iron Corp.
The domestle No. 6 contract
Light
itquidation
demand from the trade.
in
Minnesota Mining
Milon Development
Monsanto Chemical Co. Montgomery Ward
the Motorola
was used, Today, however, the closed 1 point higher to 1 point latest Paris fashions are point lower with sales of 10 con- ing up The Better fabrics, tracts. Crepes, etc. I fol. sure this trend will mean much for ilk nearby months met a reserved National Dalry Prod
National Cash Reg. "A" everywhere."
National Lead held around New York Central ..
Bicol Comp Gold ingot (2.2 pounds), Yoshida, speaking through on Brazilian raw which gained 4,000 francs Interpretor, said that the
the 8.70 echt level for Cubans, Norfolk & Westom By. another 5,000 Jupatiosa delegation carlier to- 1.0.b. basis. Ceylon WAS yesterday rose
ex-Oun Mathieson frança today to stand at 545,000 day had presented to the execu-pected to be in the market to Chix Elevators.
Owen-Bols Glass Tropes,
tive committee of the Congress morrow for around 0,000 to Oxford Paper Co. The dollar which officially sa proposal calling for now of raws for Novamber ship- Parif Gas Elec....
Fan American Airways put at 420 Craner fetched 409 methods of raw silk testing and ment
Paramount Pictures ... francs on the black market a revision
classification Contract No. 4 (worlds: Jan: 3721 standards.
MAK: 5.08; MAY: 3.00; July: $60. Parke Davis Co. Yesterday it war' ́988. »
Penny J. C, Co, Hapti 257; 0: TA: Mai: 3.40, Pot Ball Co. The pound sterling xose from The upgrading in the claml-Spals (venia per lb. Los Cuba); 1.20.
Open interem: 6,452 couitucts. Thip Morris 1100 franes, to 1,200-United! fention of raw silk na outlined
In the proposal was erected" in sa May: 5.55;
Contract No. & donasiet Blan: Procter & Gamble Co. Press,
July: Sol: Bepi: Pitburgh Plate Glass order to meet the changing de- 804; Nov: 2,411 Spot (entia per, 15. | Publiciter Industries mand," he ad. Betono the ct NY ex-duty)
NAMESAKES
of
war, he explained, the mafor unlima Prest.
bes interest: 607 contracts fallo Corporation
Answers). 1. Dingy, -2 Univer- und-naso of my silk goes into Rity, -5 Collega, 4 Budota. D. weaving and sik fabrici. Wooing, G. Book, 171 vierial. He said the proposal, still to
Distracted, Novel, 10 Boats, 11 be approves by the Congress Agreed Merchant Rates Fantasy, 12 Oxford, 18 || WERE SUKIálstød. in accordance with a directive passed'at pro-
Press
Romance,
Zuleika. Dobson (from Max Beerbohm's novel).
Canadian a Maximum Selling File vious allik congress. * United 10: Minnien Buying · 14%
T/T 16-13/10 Q/D;
Radio Cor Pret Tepsiblia Steck Reynolds Metal Sears, Roeblick & Co. Hill Oll Co... Tindar Di Appory Mentioli
Bohr Aircraft Baugh Puerto Aloo Bags Souls Co. (Tha)
(Am.
דווין
New York, Oct. 20.
Closing rates were:
EXCHANGE
> 04-7/10
2.80-1/10
2.24-1/10
2.70-1/10 2.30+7/10
0200
(243
2.70-18/18-4.50
10.631-10.83 12095-140.09 11.77-1.70 1751-775112
118414-11841
14.38-14.48
7.99-12.30
Others unchanged-United Pres
Exchange Rates
in the locat Business want done
market this uponicl
exchange morning at the following rates:-
5.83 US dollar (per $1) ......
683 Sterling notes (per &1)
Australian notes (per £1) Indonesian rupiah (per 100). Siam tical (per 100) Singapore (Straits}
40%
LONDON STOCK
MARKET
London, Oct. 29. The stock market was a dull affair again today with small
gains scattered throughout a steady list. Markets had closed before discussions
had begun in the House of Commons on Britain's
economic dimeuitles.
There
was a mukh demand for British Government bonds which iffted prices es much na
C.
Industriuts were quiet but n Iow
like Rolls Royce rose from 8 pence to more than a selling.
Changes in oils were few and narrow, Copper shares Jumped ahead as forthcoming demand is optimistic. Gold shares im- proved.
15.00 There was no interest at all 12.za in foreign bonds and prices re- 1320
unchanged.-- United
27.50 malned
Tai Press,
SHIP
BENOLINE
"As one who still likes (I can
no longer say
loves) the Russians 1
write this as an eye witness story"
Negley Farson
Begins his fascinating story
of the
RUSSIAN REVOLUTION
on
SUNDAY, NOVEMBER 3rd
in the
POST