Page
SHIPPING
NEWSBRIEFS FROM SMALL BOATS FOR
THE YARDS
Stockholm.
OCEAN RACE
New York.
sailing ruce from Cowes
to City Island, New York, for single-handed craft is to be held in the summer of 1960. The race will be open to boats of any size or type provided ench has only one com petitor aboard,
One of the world's largest A 3,000-mile transatlantic diesel tankers, the 33,600-ton m.t.
delivered Bulman, woo from the Kockunis #pyard, Malmo, recently to the semi- state-owned French Lanker line Companie Novale des Petroles. The bridge and dockhouse have been combinxi into a superstruc- tufe at the very aft, which is two storeys "higher than conventional ships of this size. The propelling machinery is the mast high-powered so for de- Hvered from the Kockum yard.
It consists of a supercharged 10 cylinder. Kockum/MAN diesel which develops a nominal effect of 11.250 c.h.p. г.p.m.
On
at 115 15
Auxiliary power obtained from two turbine driven generators, one fed by the exhaust gases in the funnel and one coupled directly to the propeller shaft.
A. 400 KVA Kockum-ASEA
generator cup stand-by diesel
alles electric power when in The contracted speed of port. the ship is 15% knots,
M.t. Southern
*
Clipper,
ودا
The race Js being arranged Society, an by the Stocumn American organisation which the recording of Sponsors trans-ocean cruise, in smail boats.
to
Yacht yards are expected to build special craft for the race. be a qualifying There wil
non-stop trom Cowes course
Bantry,
south-west Ire- land, nnd back again or 3 яlmäar course of at least BOD miles of open water.
Yachts
take tany course" to New York. Three routes are
can
THE CHINA MAIL, THURSDAY, NOVEMBER 7, 1957.
TRADE and
COMMERCE SECTION
EXPERTS PREDICT UPWARD CLIMB IN CONSUMPTION NEW YORK
Natural Rubber On US Market COTTON
On The
Spotlight
Price Struggle
With Synthetics
New York, Nov. G.
Natural rubber's share of the U.S. market would be increased substantially if the 'price dif- ferential vis-a-vis synthetic rubber can be narrowed to within three or four cents a pound over a period of six months, in the opinion of rubber industry circles.
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done on the long-
Stock kong
Exchange this
morning amounted to approxi- Noon quota- mately $154,000, |tions and the morning's Trans-
actions:
Shares
DANKS
possible cirenlar Natural rubber could climb again to at least 40 HK Bank..
per cent and possibly 43 to 45 per cent of the American market, assuming that the nine cents per pound premium on natural rubber can be whittled to a more competitive range, these sources point out.
of
route from Land's End to Cape Race In Newfoundland; a northern
Land's run from End
the past
of CUTTET Ireland, and southern route
Canaries and past the Indica,
West
Radio ban
on
In
10,500 tons, was launched
She Is the Kixkums recently. third vessel to be bill by Kockums for the Malmo Clipper
has Line, which
2 further tanker of 40,000 tons on order at this yard,
A D-cylinder Kockum/MAN engine developing 8,100 h.p. will give the Southern Clipper a speed of 15% knots on fult cargo,
0
DS
Reckoning
previous crossings
smali craft, estimato that the experts
Cast average at winner will 80 milea
day, making 30 days for the course.
During the race yachts will be allowed to enter as many they like for harbours repairs and stores,
receive But they may not
at sea and wireless transliters will be banned.
There will be no prizes but "best performance" and place trophies."
Hulls of competing will be painted yellow recognition during
new The Brostrom Group's apprentice ship, the 8,200-ton m. Sturebol, was taken over the AG by the OwnTs from Wescr yard, at Bremen, last month. The vessel, which will serve as a combined carga. linereny help and school for 24 omcer cadels, Ja of the convertible type.
Used as an open shelterdecker her loading capucity is 8.400 propelling: d.w.
a. 7- machinery consists of cylinder MAN engine develop ing about 9,000 hp. which gives her a contracted "sörvicë speed of 17, knots."
tons
The
money
the
craft for raee.
London Express Service.
The ship left on her malden EXTENSIONS FOR
voyage to New York recently with 24 cadets on-board.
Uddevallavarst launched on October
12 the 19,000-lon tanker Pepita far Svend Foyn Brur, Tonsberg, Norway.
The vessel is of the yard's alandard series and is equipped Uddevallavarvet/GY with an diesel developing 7,500 ch.p. The speed is to be 15 knots on full cargo.
SWEDISH PORT
*Stockholm.
Salet
Buyers Bellera
010
10 e 120 30 61 620
+ 620
FAN INSURANCES Lombard
210
10076
331
0.70 4.80 2000 62%
521
11.00 100 11.70 400 11.70
SHIPPING PTC. P'vident (0)
| Wheelocks
LAND, ETC.
The price of natural rubber futures in New York has
averaged about 32 cents a pound for the Gr-S synthe tie rubber. Over the past several weeks, however,
HK Hotel 16.40 14.70
30% natural rubber has dropped to about 27 to 29 cents ak Land
Humphreys
10.10 NUBBER pound.
1.45 1,40
Despite the strong price ad-, vantage now being enjoyed by synthetic rubber, these sources feel that the current minimal brocuth which natura! point rubber usage would not fall Is about 35 per cent.
Synthetics shares of the American market is about 62 per cent. In contrast, the rest of the world outside the United States looks to synthetle for only about 20 per cent of its total requirements, the remaining 80 per cent coming from the major rubber producing nations, prin- and elpalir.. Malayu, Indonesia Ceylon.
Climb
AMBI
ping plans to reverse this trend. Tru
UTILITIES
By modern replanting techni-Trem..... ques it hopes to produce more Star Ferry
lonnage at less cost. Although! Yaumati
Stock
New York
Market Moves Upward
New York, Nov. 6. The stock market moved upward today. Measured by the averages, industrials were up 1.78 points at 435.82, rails up .23 at 107.57; utilities up .02 at 64.96 and 65 stocks up 44 at 147.11. Of 1,189 issues' traded, 555 were higher, 383 lower, 251 unchanged.
WORLD SUPPLY
OF WOOL
New York Stock Exchange bond volume was $5,300,000,
American Stock Exchange volume was 710,000 shares.
Dow-Jours
were;
closing averagės
30 Industrials 488.82; 20 rails 107.57; 15 utilitics 04.06; 65 stocks 147.11; 40 bonds 04.94;
ON THE RISE Comm, futures Index 180,65,
4200 1.33
The
2215 11.80
2004 22.70
20 127
1:7
015
-- 120
C. Light D. 10.10 180 17.00 Electric
26.00 27.10
the average yield in Malaya 450 pounds per acre per year, experimental research hus pro-Macao E... 10.40 duced plants which will pro- Tulephone 25.00 23.00 duce as much as 2,000 lbs per INDUSTRIALS
23 2015
acre per year.
And
many
Cement
are new uses
are Tesls
|| Rope | 14,00
Amey Can STORES, EİC. Dairy Watson
38
13.30 12.00
6.00
200 B 300 @ 13,40
4.40 4.50
1.7%
being developed. being made to use a mixture of Craw." natural and synthetle to pro-Emporium duce a hard rubber for use in COTTONS
| T»xife cleaner INVESTMENTS ware, vacuum dinner heads, electricni wall plates, anti Amed
similar user.
ቮኔርጌ
Then there are the rubber rands. Trial stretches are now 27 states and down in some Hubber
three provinces of Canada. In experts forecast an One of Sweden's largest
Paris subways are natural rub- upward climb in the world con- inland ports, Vasteras, onsumption of rubber, particularly ber Industry's success in Anding uses for its tree-grown lake Malar, is planning In Europe and Asia where the important extensions of per-capita, usage is far below product.-United Press. that in the United States. Its quay system and an enlarged capacity for oil storage, both below and above ground.
Plans
also afool for channel The deepening the sailing
in
Take and along the the the
Sodertalje Canal, which is the machinery Malor outlet for shipping into 7-cylinder the Balle, *
on
Jaunched Eriksberg October 10 the 10,050-ton fanker Lysefjell for the Olsen
Ugelstad Group, Oslo. engine room as well os bridge are placed aft
The propelling
consists of
developing 6,750
giving the vessel
c.h.p.
and
are
COM"
Eriksberg/B. & W. diesel engine The creation of an Ice-free
a speed of channel by means of
pressed air, which is now a subject of investigation, would further emphasise the need for harbour extensions.
15% knols.
The De Laval Steam Turbine Co, announces that it has re- celved an order for a 25,000
turbine, r.h.p. main generators
and sundry
מיר
The trend among the less- developed nations to increase agricultural and industrial pro- duction and the heavy accent International being placed on economic co-operation is also expected to generate an increase clemand for rubber.
Closing Prices
Allied Chemicals
Allied Milis Inc.
in
Washington, Nov. 6.
Agriculture Depart- ment said today world
of wool supplies 1957-58 are likely to be slightly farger than those for 1956-57.
This predletion stemmed from
world
a forecast of increased wool productions, the 10th in n The increase, however, is expected to be considerably
row.
| smaller than the gain of about
& per cent last season.
Allis Chalmers Ain, Drake Shoe American Cable & nudio Corp. American Cyanamid Co. Anser Forgh Power Am. Mach. E American Metal American Smelting
dry.
A. Sugar Ref. American Tel & Tel
American Tob. "B" Anaconda Copper Armour
Baltimore & Ohio Bethlehem Steel
Borden (The) Co.
Burroughs Add Machine Canadian Paclite” R.
Cat.
Tractor Celanese Corp.
The Department's publication, 5, 1. T. Financial Corp. "The Wool Situation," said an Climax Molybdenum
Clucu Peabody Inerettem sheep numbers in Commalidated Edison
LONDON STOCK starting and
MARKET
London, Nov. 6. Stock prices firmod hore today but trading was
New York Rubber tight.
Market
1
The better Lone reflected and a marked bear covering decline in selling. There were buyers who predicted firmness In Wall Streal tomorrow New York, Nov. 6.
of President Elsen- advance The Standard contract rub-hower's important broadcast.
bar closed today 20 to 32 points highar with ahead
sales
reported. Closing
Total world consumption of both natural and synthelle rub-
is estimated at ber, for 1957 3,100,000 tons. Looking to 1960, rubber leaders see this Lone, figure rising to 3,600,000 and in 1985, to 4,000,000 tons.
Deficit
and condenser machinery for a lund, the planned improve-dured for a world
Oslo.
that con-
1
no
Sugar
the United States may be Continental Oil of Del.
that shor Wool production in 1958 may be up a little.
Range conditions in most areas of the west this year have been the best of several years. Reports from the range artas
indicate a strong demand for ewe lambs and breeding ewes.
PRICES DECLINE
Slaughter of sheep and lambs in recent weeks
has been low compared to a year earlier.
Leading industrials
The Department said it is top shining or more. British Gov-early to tell definitely whether one hands were quiet but sheep numbers will trend higher med up as much a £3⁄41⁄4- jover the next few years p
гове 1
pricas: Nov: 21.35; Jan; 27.50; Kor: 21.00: Oil shares were active with, May: 21.00: July: 21.50; Sept: 27.50;
Royal Dutch Nav: 2745.
Cuban AmET. Diamond Alkali Diamond Match Co Dow Chemicals Dupont de Nemours Eastman Kodak El Paso National Gas | Family, Fitance Corp.
General Electric General Foods
General Motors Gen. Pub. Vin. Goodyear Tyre
Heyden Newport Corp. Inland Elesi) Co. Interchémical Corp. Int'l Business Machinesp Int'l Harvester International Nickel, Int'l Tel & TIL
Kennerett Copper
geti Beyors Tob. Co. Lockheed Aircraft Loows Increment
Lone Slet Lowenstein & Sons.
Co.
Memb! Irten Corp Momento Chemical Co. Montgomery Ward
Motorola Inc, ...... National Cash Reg. * |National Detry Prod. National Lead
Copper shares enjoyed some buying but gold shares were
Other
metals base
This decline was accounted quiet. steadied
for, the Department said, by Foreign bonds held at a vir- curtailed Japanese buying, un-Philip Morris
Procter & Gamble Co. Publicker Industries tual standstill. Doilar stocks certainty as to prospective de were higher with their pre-mand for wool in the United Pure Oll
Radio Corporation mlum jumping a point to 9 per Kingdom and France, and an
Lepublic. Steel apparent easing off of demand cent--United PreDS,
in the United States United Press,
The Department said wool have up 10/-, Shell | prices in world markets
National Steel Corp. Now York Central except for Norfolk & Western Ry Prices steadied in a small Transport 4/8, British Petroleum declined generally Vasteras being the site of
and others up around temporary interruption since Ol Mathieson large electric
Ofis devatora engineering and
market, influenced by the higher 3/3,
last May, they were In 1950, some 1,887,500 tons primary markets and indications 2/-
at the owen-illinots Glore molal worka and also the
peait of an advance that had Oxford Paper Co. pumps centre of a rich Industrial up-
were pro- of an improved domestic factory of natural rubber
lasted for 18 months.
Pacific Gon & Elec demand, attracted by the price
Pan Amerlegg Airways 05,000-ton tanker to be built of
1,392.000 tons: The slump before the holiday,
Paramous Pietures ments in the harbour's capacit, sumed
Study Verkstad. would be A/S
Rubber Аселя mek.
Itary-J, C. C Brokers reported a fair tonnage of great
ceonomic International Oslo, fur Fred Olsen & Co., of importance.
Group anticipates a defeit in worked on shipment rubber In-
Penn: Salt Co. 1937, estimated that natural cluding sales of three browns at rubber will produce this year 23 cents, three sheets 25%
four de and 28 cunts: 1,875,000 tons to meet
sheets at mand that will consume about 244 cents and one sheet at 27 1,910,000 Lons,
cents a pound, all cost and
Nov./Dec. freight,
shipment. Trade sources are generally Spot No. 1 Rss was quoted of optimistic that despite its price 275 cents. as against synthetic, One of the
premium most urgent
natural rubber can look to at extension projects is thus the of the length of the deep
least decade's cushion during which It will be able to market harbour by 230 ft.
all it can produce. This cushion might conceivably extend for years beyond, assuming a con- stantly growing world economy.
Parts of the main turbine unit and auxiliarica may be manu- factured by the shipyard on licence,
THE FUTURE FOR CANADA
The ore-bearing districts of Swedish provinets the central are at present being intensively mined, and Vasteras would be logical shipping point, the
accommodation harbour
the
the
per-
Battle
AMSTERDAM
The rubber`market was quiet today. Prices closed today sullders per kilogram, elf Nov. as follows;
No. 1 zubber 2,25 nord No. 2 rubber £23 nom.; No, a rubber 220 nam. No. I crepe 2.40 buyers.
SINGAPORE
New York Sugar Market
New York, Nov. 6. World No. 4 sugar futures closed today unchanged" to two points lower with salos of 328 contracts. Domestic No. 6 sugar closed unchanged with
no sales reme
A new pier for tankers and 1111 Montreal.
enlargement of the oil The President of Canadian storage facilities come next in building scherne. Old Vickers, Col. 0. H. Bar-quays will be rebuilt and the rett, stated recently that harbour warehouses are to be An extension of the future of Canada's modernlacd.
old-harbour quays by
The market opened lower shipbuilding industry 75 ft. is likewise planned.
'Meanwhile, the battle be-
on disappointing overseas but tween natural and synthetle steadied on short covering and rasted on the Roydt Com- One of Sweden's major
in laboratories all fair Interest for lower sheets continues Brostrom mission findings on the shipping lines, the
over the world to find new Group, is Coasting Trade.
planning regular
usts and adaptations to meet with sellers reserved. Fuures ported
No. 1 rubber per tb. Colonel Barrett.added that service on the Port of Vasteras
the needs of an ever-changing 701-783: No. 1 rubber per lb. In the raw market, dealers the question of whether the with specially designed vessels,
technology.
Det. 76-7816 No. a rubber Canadian coasting trode would'
Ib. Nov. 1-17: No. 1 rubber understood Austria with hold a United States, this per 1b. Now, nom. No. 1 rubender on Friday for 10,000 fons, In the
ber per iù. Nov. 7616-7184) spot wanted for November-Decem= battle appourS to bo limited rubber undated 781-79ik: Hanket ber shipment, and would defer largely lo about one-third of repo 87-09; No. 1 pale <repo
a tender for an extra 20,000 the υνατού market. Broadly
ions of new crop sugar until epealding, natural rubber
vanounced into date. preferred for those uses where
remain open to the world or be
reservou to sustain the ship JAPAN LEADS
building Industry Wee
primary importance.
of
Despite a slight rise in ein- THE WORLD
ployment in the past year, the
general trend or the Industry
was downward.
NO MARKET
"The
Tokyo, Nov. 6. Japan, the world's leading shipbuilder last year and lead- Canadian shipbuildering the world again this year, har no market to which he can plans to build 80 seagoing ships turn except the domestic totalling 088,200 gross tons for
represented by market.
theats own, merchant floet during coesting trade and Government the 1956 fiscal year, a private work," he said.
survey disclosed today,
The Japan Development Bank Citing figures showing the large volume of freight carried | sald 111 Japanese shipping pian to fovent by constat trode, in relatido to | compatikes truck, air mil fallway lines 110,017,000,000 Yen (US$228, Col. Barrett sold that the fade000,000) in new ships this year "represented a potential maritet and next.
probably mifticient to
sustain
$2-64.
LONDON
Nov.
23-3/10
its qualities of superior reall!icy The rubber raskot was steady apd heat dissipation give it the with spot quoted at advantage, such as in sirplane perice per lb. Prices and heavy truck tyres.
No. 1 H 33}6-833%- Settlemine house, termi
Futy/teps:
This mocounts for roughly | Antiiumo; about one-third of American-M O/D 2-
General Chats ok k porth: Corusumption. Synthetic zubbor Kovi, 337 3351 Deo: B233; Fan: ie mare in favour in anattion | siyaset katalo crepe than Novi al; ślinki of market where Hos bicht Kövi ik. United Pris. portance is attached to superkie | "akesiyo – resistance and the ability to roast cutting alls and chemicals mich se la siping
For gasolines and similar feita
NAMESAKES
Contract No. (world) Jan. 3.60; M. 3.49 May 3.49: July 3.16, Sept. 3.40: Oct. 3.47; Mame
Spot cents per ib. fob Cuba) 3.80; Open interest: 9,500 centraleta,
Contract No. 8 (domestic) Mar. 5,54: Bag #T: July 6,013 Best, Butt Nov. 66% Spot-Coenie perfo, cif NY ex-duty) 5.03; Open interest: 601 contracts-United From.
BRITAIN'S SYNTHETIC
FIBRES
London, Nov. 6.
fibres
Sale Reg. Paper Sinclair Oil
Bscony Mebloй
South Puerto Rico Buzer Southor National Ca Standard Brands Standard Oll of Cat. Standard Oil of Ind Standard ) DE NJ, Steep Rock (Toranto Exge.) Studebaker-Packard Corp. Suruhne Mining Swits & Co.
Takas Co.
Textron Inc. Tide Water Aan. Oli
Twenty Century Fox Fum Union Carbide)
Union Oil of Cal
Union Facile Railway
United Aircraft
U3, dypeu
U.S. Rubbe
18. Smelling
U.S. Steel...
Warner Dr.
Westinghouse Electric
Britain's synthetic
Wort Va. Pulp & Paper industry is worried about-Woolworth
the stability of the in-.
Sir William dustry,
Palmer, Chairman of the
#033 201
MARKET
New York, Nav. 6. Rallying tandéncios returned in cotton futuras after a mixed start today, push- ing
tho markat onto the higher ground for third cassion in a row.
The
upturn carried nearby months to new seasonal highs., -
Afles an extreme gali $1.03 a bale, the market drợp. pod back at the close under realising to close net G higher 2 points lower. Opening prices were off 1 to 4 points. New Orleans closed up, 5 points,
to
Price-boosting influences la- cluded: 1. Continued wet and
cold weather over unharvested areas; 2. Helghtening fears of irreparable damagos to grades of open boils; 3. A lower pri- 4. Cover- vate crop estimate; | Ing before the Government crop
report on Friday.
last
A prominent Memphis spot arm estimated the end-October baled. prospect at 11,930,000 This compared with the Government figure of 12,400,000 of bales and last year's crop 13,330,000 bales inst year..
Commission houses. New Orleans intercata sad local traders were today's prominent buyers. Hedgo-selling and | technical realising supplied con-
trnets on the advances.
11% x even
Light selling and announced plans to cat production more Five majar print cloth producers will close over 40 the four-day Thanksgiving Day' weekend and for all, or part, of Christmas. week.
23
204
402
1119
Month
Volume
Open interest
Dec.
12,100
225200
Mar
10,000
226.200
品
671
May
14,200
240,403
July
11,000
Cel.
7,700
101,400
Des
2,000
30,100
Mar.
1,500
Total
60,600
078,200 balon
2001
15
New York Cotton
Prices
Now York, Nov, 6. Prices of cotton futures closed fodny as follows:
Spot: 34.45; Dec: 34.19-20: Mari ashdan, “play: 25.30-31; July: $4,80; Oct: 3986: bee: 3587;' Mari 33.57.
LIVERPOOL
Cotton future closings, in pinco per ib, were as follows:
Old contract Dec/Jan:. 20.60; Mar/ Apt: 25.76; May/June: 23.87:: July/ Aug: 23.90; OcyNov: 25.38.
New contract Dec/Jan; 26,83;. Mar/ AUT: 20.50; May/June: 0.87; July? Aug: 20.33; Oct/Nov: 20.45.
BAO PAULO
Colton future closings, cruzeirox per klo
follows:
Werc
fra
$41
*Mar, 38.00, May 3850; July 28.60;
·Oct. 38.90.
In the United States, the average price of one-inch cotton at 14 designated spot maricela was 83.89 cents.
Total sales at these markets were 74,703 bales-Unlted Press.
New York Foreign Exchange
New York, Nov. 0.
·Closings' rates were:
Canada w England effigisi
Anefrolle
unomicist
New Zealand South Africa Belgium India
Pakkin
Others mehanged,
101 0/32
2.30 3/10
920 9/10
LONDON FOREIGN
EXCHANGE
Closings rates were:
New York
574 Mont
British Man-mado Fibres FLANGE BEAMS Fodoration suld today.
Chicago, Nov. 0. Inland Steel Company has re- He noted a continuing trend toward declines in fabric ex-duced its price of wide flange
pro
Arozte
Brussel
Frankfurt MUAR
Paris
Zurich
2.80 1/10-280! 2,001+2.00 3/8, 10.6-10.631 139.3231-130.0å 11.97-(LTT 130015-1731
Others unchanged.--United Press.
New York Metal Futures
New York, Nov. 6. Prices of metal futures closca
Line Nov: Rabi Dea: 413h, Copper Nov: Bhabi Deu:
Tin Nav: DATED; Died: 89.75b. LONDON METAL
PRICES.
fob Indiana
Land Nov: Harbour, Indiana. ports, both woven and knitted beams by $3 to $105.00 per ton today in cents per lb. as follows;
move brings the firm'A He said patt of the decline This might be due to a drop in im- price for structural shapes into quated but added, ducers in the "area. ports of foreign cloth for finish-line with those of other ing and re-export, "some is undoubtedly due to the
Inland said that with changing growth of domestic production and to restriction by Import market conditions, it was neces
saty to make the reduction "
port markets."
fully competitive China Mall follows: Special
Prices of metals closed today
Exchange Rates quota in many of our best ex- that all our prices will be in sterling per long ton as
Buzdra, Wiz, dóte
In the Jou
Buyers Bebers
| 210
Copper mai
Answers: 1 Nivalry, 2 Vigour, anemieial exchina market this Council considered the prospect Palmer said the Foderation's. Of the 80 vessels planned for and trends for passobem (spek...|'8 Tradalog, 4 mile d VigLOZIMÁN, Zornatag at the followinar maker;
of a European common market Although the last third of a bruster, 345 vanouver, « US dollar (pet) (1) the shipbuilding industry, pro- 1988, shipping companies, hope
DIED ||SİZLİKa, a Mediana, 10 Cigm- merling noten (NIET
promising in terms of long-term Agreed Merchant Raten d vided the Canadian shipbuilding to build 64 totaling 199,100 the US. market has
that Autralian notai (per 21 swinging - somewhat to synthe=| Bles, TI ESTRA, 19 long with government
advantaged and urged. BALKYKY, fodanezina ruman (per 1907. industry was not required, as if i gross
negotiations for such a tharket to compete
tie in recent mouths, natural] 18. Speed., 14 Track. In that oers and the remaining 26 on
Blam ties (per suby rubber growers have been map- market with overaid builders, private funds-United Press.
Bibgapore (strata) Bogor Bannister..
was now,
be punited.--United Press,
Canadian
Fead