1
SHIPPING
German Water Wagon
Germany's water version of the Volkswagen automobil, would be this "Walermobll,” a small motor-beat pul out by e Lepel um. The boat konta Iwo, and has been described as the dream-boat of the tile man. It can travel at 35 kilometres per hour, has its own radio, is driven by a 200 er power plant producing, 12 horse-power. It should be in Reneral production by next summer, and will cost marks.--Express Photo,
CANADA'S FLEET GETS SMALLER
1,973
Mr Hees' only comment on £ posible solution was:
Commission on "The, Noyal the coasting trade is expected to make its report within the next time few months, and at that Ottawa, Nov. 12.
it will be appropriate to deter- Canada's deep-sen merchant mine whether or not any chringe then policy might be desirable; navy, 10 years ago
the not only in respect to constal fourth largest in world, will shrink by one-shipplag but also deep-sea ship- third with the transfer of cight freighters to gistry in Port of Spain, Trinidad.
ro-
There vessels, three molor ships and five steamers, are the survivors of the 65-year-old service aubsklised steamship between Canada and the British West Indies. A statement in the Commons yesterday by the Transport Minister, Mr Geore Hees, confirmed their removal from Canadian Interest,
Mr Hees said the step was being taken by Canadian Na- tional Steamships (West Indies) Lid, to break a strikke by the International Union Seafarers
seamen which had died 230
the of 4. Five July since
tied
up freighters аге Montreal, the others in Halifax. REGISTRY
In
ping."
been
The decline of the Canadian merchant fleet has been con- tinual since its peak at the end of World War 11. In November 1047 It included 137 orern-going dry-cargo ships of more than By 1949 the ships 1,000 tons.
foreign Bold 10 tund interesis.
The sole bright spot was the Korean war, which brought a temporary revival. The year before, the government provided a $3,000,000 subsidy for Cana- dian-registered vessels, but this was ended with the Korean war.
A great number of Canadlah vessels have been transferred to United Kingdom reglatry. where they remain Canadian- wned and can be recalled by of need, this country in time Today
there are 70 Canadian with U.K.. registry.- ships United Press,
ships
NEW
The danger that the would be lee-bound in Montrent
ENGINES FOR
through the winter had forced SHIPS' LIFEBOATS
the Company's hard, Mr Hees for A final deadline anid. acceptance by the Union of the offer cotapany wage increase lind passed at noon, November 9.
Mr Hees said: "It is the opinion of the government that, under the present circumstances, and having regard for Canada's desire to ald and assist the pro- posed Federallon of the West Indies, the service can best be administered under this arrange- ment,"
Registry in Trinidad will per- mit CNS to hire seamen from nrywhere in the world and re- move the ships from union con- trol
The loss of eight freighters reduces Canada's ocean-going merchant fleet to 10 cargo ships and eight tankers. These spend the greater part of the year in coastal trade and others are operated subsidiaries
ps companies which provide them with captive cargoes. AMENDMENT
by
to
London,
CHINA MAIL, THURSDAY, NOVEMBER 14, 1957.
TRADE and
New York Stock Market
WALL STREET WAITS
FOR IKE'S SPEECH
New York, Nov, 13. :
Stock market activity was limited pretty much to: the essentials today as Wall Street awaited President Eisenhower's address to the nation tonight on "Future Security."
Prices were narrowly it-session
falied to but this trading regulor.
light to generate any real demand and modcrate for all but a handful many issues backed down agin
in the late dealings. of specik BLUES,
COMMERCE SECTION
HONGKONG
STOCK EXCHANGE
Our Own Correspondent
Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately $148,000. Noon quotations und the morning's transactions:
Stares
HK k
Mayern Bellara
Announcement from Cape
Interest centred in issues ruch BANKS Florido, of the Canaveral,
Bethlehen Steel, Boeing, ASTR epparent successful launching of 03
nother U.S. mirsile lifted the Standard Oil (NJ), Chrysler,
Motors, Generel INSURANCES list from early tows around mid-General
Dynamics,
LONDON STOCK MARKET
London, Nov. 13.
Of a total
of 1,158 Issues which appeared on the tape, 559 were lower, 336 filgher, 203 un- changed.
THub XD
SHIPPING Wheelcek
DOCKS, ETC. 16. Whart Dock Provident .. LAND. ETC. HK Hotel..
-10 278
70
0.30 BLIN
24 14.10
500 14
New York Sleck Exchange volume was 2,120,000 shares.
New York Stock Exchange bend volume was US$4,000,000. IK Land.. 2314 3316 200 331
American Stock Exchange Really
Britain's nizable October volume WEG 510,000 shares. | RUBBEN
gap
and
off
fears Bow-Jones
trade of a further government were:
inflation textustrins crackdown scared off traders today 20 Hails
the stock market and closed irregularly lower on light dealings. Gilt-edged
securities opened Arm but came under pressure in: later trading and closed frac tionally lower.
Leading industrial Issues were mostly easier. However, chain stores, textiles and elce. tricals staged a modest rally.
43 Bonds
closing
UTILITIES
Youmat! Light
12612735 20000 3 1.30
20.10 201 25.10 251
averages Amag XD.
430.0 Tram
104.33
13 Utilities
64.91
stecks
14 *
22.20
17.70 16.30 C. BR (N) 1830 1720
Commodity Futures
Index
181.97
eckic
Tel.
Closing Prices
22.10 216
Amoy Can..
Allen Irs. Acy,
#2536
7012
STORES, ETC.
Dairy ..... 15.00
14
23
Watson
127
101
COTTONS
4,40
INVESTMENTS.
Allied
3.10
Allied Chemicals Alded Mills Inc. Allis Chalmers Am. Brake Shoe American Akrilne
Am Cable & Radio Corp. America Cyanamid Co. Am. de Far Power Am. Mach. & dry. A mild selling wave hit oll American Meini
driving shares
Royal Dutch American Smelting
American Tel & Tel down 12/6. British Petroleum, Am. Sugar Ref.... three shillings and Shell two Americm; Tob. "1"
Was Anaconda Copper exception shillings. The the old Suez Canal Company Arinco Steel that improved another one-hall sterling.
were higher in
Gold shares active dentings.
Japanese bonds scored gains) ranging to one-half sterilng.
Dollar stocks were lower United Press.
New York Sugar Market
New York, Nov. 13. World No. 4 sugar futures today closed unchanged to two points lower with sales of 172 contracts. Domestic No. 6 sugar closed unchanged with sales of seven contracts.
World futures held steady as most traders awaited further developments in the world raw
The only sale reported early Involved 4,600 s of Cuba's to Holland with the price not in
avaliable, Domestic mediately futures continued dull.
The PHM series of air-cool-market.
ed diesel marine engines made by Potters Limited of Staines has now been approved by the British Transport Ministry of and Civil Aviation for use in both 'A' and class lifeboats. tificates of approval are available from Lloyds Register of Shipping and Bureau Veritas.
Armant ***** Atlas Cone. Mining Bakwin-Lima-tora. Baltimore & Ohio Bendix Aviation Corp. Renget Cons. Bethlehem Steel
Bong Airplane Borden (The) Ca
Burroughs Add Machine
C 11.) Co
31
INDUSTRIALS Cement
1050 g 22.20 $145 0.17.00 229 17.10 200 17.10 127 & 20.30 440 25 30
Paro
US URGED TO DROP NEW YORK
PROTECTIVE
་
TARIFF POLICIES
New York, Nov. 13.
COTTON
MARKET
New York, Nov. 13. Cotlon futures finished on
Life magazine proposed today that the United States abandon its protective tariff policy in favour of free trade to "strengthen our alliances and set new standards of world to prosperity to which Communism can aspire".
Ceylon Wants Soviets To Explore Oil Deposits
a mixed note after, trad- ing on the upside most of the session.
At the close, the list ruled two 12 points higher. The market opened unchanged to never ond higher. New Orleans
futures Anished ono point Jower
Pricca jumped early in the Pointing out that the trea
tonsiderable mill system is enterpriso
a "Arst sessión on Jnes political weapon of inter- price fixing which more than continental range, the magazine offset increased hedging on the declared in an editorial:
recent rise, "A defensive US, trade policy The buying again was attri- to tho unfavourablo represents a failure of leader-buted ship. The challenge to us now a weather in areas where cotton to take a giant slep and put remains to be harvested," or trade policy on the offen- sive. For that,
fimo 18 riper than ever.
the
FREE TRADE
Mid-afternoon realising pared
the early gaing a bit, but most of the offerings were absorbed by further mill price fixing which was induced by the 15- Suszce of the wockly weather report.
10-
"This step is to adopt the
The weather report sold cold policy of complete free trade We should declare it toward all weather and moderate, to heavy Colombo, Nov. 13.
willing to accept rains over the middle and was. 5000175 Coylon has requested the cries
certain mluimum standard's ten portions of the main beit hin- under which free enterprise can (dered or halted harvesting,”slow- Soviet government to send
opening of bills and a team of experts here to work. The U.S. gains for such ed
theduced quality. Picking in other explore crudo oil deposits, el would be immense,
In were handicapped areas
raih nad the Caylonese Ambassador cose small.
"Defence? Let the Pentagon various degrees by to Moscow, Dr G.
name the items it cannot trust cold weather.
free trade and subsidise
Mouth Malalasekoru, sold today. He said Soviet oil experts be their domestle production open-
"Readjustment? lieved Ceylon should have cony instead of by tariff. 400 15.90 siderable understa, offshore all than 200,000 US job-holders
deposits.
are vitally dependent na tarla Dec. Mar. protection; they could easily be Assisted in their transition to Total new ones...
400 38
SINGAPORE
STOCKS
Singapore, Nov. 14. Brokers today
quoled
241 | following stock prices:
P.
to
Jodiaa
Not
Volume Open, interwat
Dec.
45,700
174.100
Mar.
28.700
231 500
more
May
34200
971,300
July Oct
42.202
200
7,000
40.500
-7,000
Prices
The view was supported by Endings by a recent geologial survey, showing rich
"This is the kind of drastle New York Cotton in South Madres nii deposits
Elson- extending into the Palm Straits proposal that is probably not
In the commonsensical Ceylon has asked Russia to bower style. It is rather in give highest priority to its re- the inspired style of Woodrow to quest since Anglo-American oil Wilson at his lonely typewriter,
set or Churchill in 1940 offering t Kilcrests have proposed to up a £17,000,000 il refinery in merge England and Franco. Ceylon.
Icw sad
A Soviet mission is due in Colombo within the next days to discuss economic the industrial co-operation betweca the two countries with Ministry of Industries officials-United Prezz.
opening
Canadian Pacific R.
-1416
Cat Tractor
Celanese Corp.
121%
Balu Lintang Rubber Co.
Chrysler Malora
C. I. T. Financial Corp.
OTAL
British
Climax Molybdenum Cluett Peabody Colgate-Palmolive Co.
Bakk
Syndicate
Borneo Petroleum 1.5
45ƒ-
371%
453
Consolidated Tin Emeltera
Ord.
30/-
Commercial Credit
431
Fraser & Neave Ltd. Ord...
Commonwealth Elec.
2314
Fraser Neave 75% cum.
Consolidated Edison Continental Gil of Del. Crown Zellerbach
40%
pret
457%
Hongkong Shanghai Bank-
$4.00 Gammons (Malaya) Littled $2.12
1712
Hanoi Tin
My Corp. Ltd.
$430
201
Kumpas Ltd. (axdiv)
3:473%
51%
Kuah Kampar Tin (cumdiy)
30/00
171
Luzon Rubber Extates Lidi
$1.15
Malayan Breweries
3.35
New Serandah Rubber
201
124.
$2.45
24
Petaling Tin Lid.
12:57
4214
Rules Hotel
22.671.
093
Singapore
95
Straits Trading
(tund(V) ****
30.91
$1.8T
34
Straits Steamship
$15.25
21.18 $3.05
Cuban Amer. Sugur Diamond Match Co. Dow Chemicals
Diamond Alkal
Dupont de Nemours Eastern Afrilae Fatman Kodak
Paso National Gas Family Finance Corp. Ford Motor General Electric General Foods General Motors Gen. Pub. Utu. Getty Oll Gloden Co. Goodyear TyrгO .. Goodrich 18. F.) Co, Gulf Ou
Hayden Newport Corp. Iloinestaketining Ingersoll-Rand Inland Steel Co.
Contract No. 4 (World): Jan: 3.73: Mor: 364: May: 3,036: July: a Sept: 101: Oct: 38 Mar: Interchemical Corp. "B" 455n: Spol price; (cents per lb, fob Ini's Business Machines
Cubs): 343 Open
interest:
0040
15 Harventer International skei
Cer-contracts. No. 8 (Domestic): Mar: International Paper
0.52b: May: 680b: July: 5.0in; Sept: Ini Tel & Tel 5.85n: Nov: 4.030: Spot price: (Denis John-Manville Co..... per ib, et NY ex-duty): 5.60 Open Kansas C. Power & Light intercat! COZ
contracts. United Kennecolt Copper
Liggett Meyers Tob. Co. Prem
Lockheed Alveraft .... Loews Incorp Lone Star Cement Co. Lowenstein & Soda. Mesabi Iron Corp. Minnesoin Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Ine,
The mein differences in the Merchant Shipping (Life-Sev- ing Appliances) Rules, 1952, de- Aning A' and 'B' class lifeboats is that the 'A' class bont must carry enough fuel for 24 hours continuous running and that It should be able to achieve six when knots in smooth water fully laden whereas the 'B' class lifeboat's minimum speed under conditions The anme
four is knots.
..
London Foreign Exchange
London, Nov. 13. Closing rates were as follows:
Now York
unchanged at Montreal.....
Ainsterdam russ
Milan
2.00 3/16-2.001 2.0 1/10-2.00
10.027-10.63 -140.175-140 241
175116-1703 20.00-20.00!5 1024-1153 14.30-14.50% 72.477-77.92 12.204-12.201 Zurich
Copenhagen, Frankfurt and Lab were unchanged.--United Pres.
Stockholm Vienna
The decline of Canada's Red
The rules for both classes of Paris Ensign fleet is attributed aporating costs, reckoned 80 per boats have in common the re- quirements, that the engine eent
more than for ships under shall be capable of being start- foreign registry, construction exposes, 60 per cent more thaned readily in cold weather and in sureb of running reliably abroad, and cutthroat competi-weather. They also state that tion for the International car-the engine shall operate
pro- rlage tande by countries which perly under conditions of at have restored their war-battered feast 10 let and 10 trim. Cir- merchant marine.
culating water pumps shall be self-priming."`
and
Canadian shipowners shipbuilders could glean little REQUIREMENTS
LEX
London Metal
Prices
Nation Cash Reg. "A" National Day Prod. National LARD
National Steel Corp. New York Central
Norfolk & Western By.
Owen-linols Class Oxford Paper Co. Pacis Gas & Dec. Pan American Airways Pammount Picture Parke Davis Co. Penny J. C. O. Pen Sail Co. Philip Morris
Procter & Gamble Co. Pittsburgh Plate Glass Publicker Industries Pure Oll.... Radio Corporation Radio Corn. Prof. Iepublia Steel Reynokia Mela London, Nov. 13.
Shell Oli Co. Prices of metals closed today Saint Bea, Per
sterling per long. ton as Sinclair Oil
Nocony Mobloй follow:
in
encouragement from Mr Hees'
that statement. He noted
The Petler PHM range meets amendment to the Canadian Vessel Construction Act now be all these requirements and, be- Copper apol 1919 192
qualities rad. ist half Nov. fore Parliament. would bring cause of the special
inherent in air-cooled engines,
1st half Feb. provides advantages not includ-Zinc. at half Nov. let hall Feb. ed in the Rules.
further tax reflet to ship builders, but added:
"Any mtanite of assistance
Ito shipowners and bulldors)
Deck testing is a simple mate
Tin spot 3-month
which may be proposed mauit, offer when no water-cooling sy course, bo comaldored in re terns are involved, and the
South Puerto Rico BERE Buyers Bollers Southern National G
Southern Railway (Com.] 10436 Standard Brande
Standard Oil of cal Olt of Ind. Sterling Drug Co.
Camp Stokes-Packard Comp Sunshine Mining Bwift & Co.
B134
DAYL Danz 0735 0776 71015 720
tationchip to the soil to the tax-chaine can be started on deck New York Metal
emergénéy so that Ufos
payer and the effect on our boat can get away on full power trado rolations.",
ub soon as it is nāvet. Shipping, Experts took this to
There are two horsepower mean, the government was not ratings available, in the PHIM in favour of the $5,000,000# range--the single cylinder, 73% your subsidy, groposed by the ship and ine twin cyinder 18 Canadian. Blikuwości Associa“ bälp. The PHRM models have,
maintain ́s, nucletin of 35 reverse, gear and the PHRMR Canadiansregistered merchant havn both neverno, and 2:3 obii
dietidner,
tion
Futures
New York, Nov. 13. Prices of metal futures elbaed
Tai On.
Textron Ind.
Tide Water
Twenty Century Fox Film
Salon Carbide
Inson oll
Uniors Packito Ballway
United Alrea
·UB. Fat "*73" UB, Clypeums Us. Tine
SL Gul
my dog TOE
todos in conte per lb gs follow
Lead Tor: Baqustad:"beer" 18300 gino Not Bath? D56: BI0D: Coupe (prie Nov: Angured Degi Nebim Calendard zu kuosiotachyzyjna kyynita
United Engineers Ord.
Warne Dom, ......
China Mell Special.
Exchange Rates
Busine
WAIS Gone the locaz exchange market unomical snoring at the following males:—
US dollar (per 61)
$55 Bterling notes (per £1)
Australian holes (pri 21) Indonesia isplati (per 100) Stam teal (per 100
Strupore (Beatle)
Paris Gold Prices At New High
Paris, Nov. 13. Gold prices in Paris today
their reached levels since 1952.
highest
United Press.
New York Rubber Market
New York, Nov. 18.
today Rex rubber futures
closed 25 to 40 points higher with sales of 71 contracts.
20.80b; Mar: Jan: Rev: 10.046: 20.630: 8137: 28.15 July 20.Sub: Sep: 20.05; Nov: 16.000.
Standard contract closed 25 to 40 points higher with no sales reported.
Prices
of collon fitures closed today as follows:
Spot: 25.40:;; Dog: 35,66: Mari 36.00; 23: 35.59: July: 35.35: Oct: $3,97-90 Dec: 33.8b; Mar: 33.67b; May: 33.77 No comp.
Prices
NEW ORLEANS
cotton futures. closed today as follows;
Mar: Spat: 1423 Dee: 30.630; 35.000; -May-25.061 July 30,33b; Oct: $1,170: Dec: 1337b; Mar: 5,89; May: 33.99b,
LIVERPOOL
closing
Catton futures pence per lb. were as follows: Old contract: 'Dec/Jan: 28,723: Mar/Apr: 21.00: May/Jun 2012; July/Aug: 26.12m; Oct/Nov; 20 km, New contract: Dec/Jan: 2005; Mar/Apr: 26821: May/June: 20.91; July/Aug: 20.90: Oct/Novi 20.700.
SAO PAULO
Cotton futures closings per dia, were
Nov 28.04n: Fan: 20.000; Mar: 6.30: May: 2006; July: 20.93; cruzeiros Sept: 20.9; NOT: 20,200.
tellows; Futures trading was rather
dull today, with prices moving 3359: May: 38.70; July1 BED Lu the United States,
in
Nov! urgusted: Deel 3050; Mar: the London. line. with up
offers average price of one-inch, cot- Dealers reported small
at 14 designated spot there was ton from the East but
markets: 34.27. much factory Interest.
Total sales at these markets 1 Ras was quoted
82,808 bales. cents a were at 20
Press,
The one kilo gold Ingot, which not had. climbed steadily oll last Spot No.
week, gained a further 6,000 nuninally francs to stand at 555,000 francs. pound.
Bullion dealers said the new rush for gold was, sparked off
SINGAPORE
The mail opened lower on ruled advices but
by the government's difficulties oversea
NAMESAKES
United
Answers:~~ Whitewash, 2 fakr School, 3 Clemens, 4 Steamboats, Angie, Train, 7 Play, &
in pushing through its tax plans quietly steady at lower levels. with fur shoricovering interest. ths and the threat of a civil servants'
in wors Lower sheets strike.
demand but unill afteravon jõ
bids raised to narrower Mischief, D Adventures.
Tom Sawyer. when afficrentiels sellers reserved
Factories bought email quantities. Closing price:
5.1"
12.00 14.20
The pound sterling touched a new high of 1,250 francs on the unofficial market, compared with 1811,23 yesterday,Reuter.
The US Must Keep
Pace With
Offensive
Russia's
Fresno, Calif., Nov. 13.
A State Department official said today that the
THREAT
01
No. 1 roubar pér Jh. Nov.
Dec.
No. 2. rubber per lb. Nov. 2231-744 No. 3 rubbar per lb. Nov.
Spet rubber unbeled Bankes crepe
No. 1 pale crepe...
LONDON
29-09
Wherever
you're gelug...
7495-75%
06-00
EUROPE
The markot WAS slaadior with spot quoted at 223% pence
-lb.
Day 04: 221-2215-
221-22
ttlement house ferma: Dec: Jan/Mar: 22-2 with
paid Apr/June: -23% with 25-232 with 226 pala; Oct/Dee: 15553 with #316-235% paid.
with
paty
General nurkat: cif baxis portá, Nov 22LMS: Dec; 2012.
· Estats crepe. Taki Nov: 234-234;
GAINS EXPECTED
IN ALUMINIUM
United States must expand its reciprocal 29 : %£%~ trade programme if it is to keep pace with pec: 153-231). Thick Nov and Den: Russia's new "economic diplomacy" offensive."--United Piem, "We must have a trade pro-liberal trade programme has Congress, in growing gramme that will enable this been country to move forward, not particularly among Southerners said Mr W. T. M. who once championed it. Their backward,"
Assistant opposition has grown with the Beale Jr, Deputy Secretary of State. "The choice expanding industrialisation
Pilisburgh, Nov. 13. lies between trade co-operation the South.
Although use of steel and coal and trade Isolation."
Despite this, Mr. Beale said, President Eisenhower intends may deelne somewhat during to ask Congress again for 1958, gains are explated in
authority under the uniofum, chemicals, contruc panded
Act to cut on whíd electrical machinery, Mr Beale, in a spooch pre trade agreemIDDLE pared for delivery to the Call- tariffs on a reciprocal basis and according to Opinions expressed fornia Farm Burnau Feşleration, to approve US. mutmbership in the University of Pittsburgh.
now the Organisation for Trade Business Prospects Conference.
Mr. Widmer, i Républic had 215 trade and payments Cooperation. (OTC), an îng me reducing
Steel Corporation - Economist. agreements with mol-Cometernelotzal agency for
that steel output fudia dailons and Russia Was trade barriers.
Pecoricenie diplo
Arop Between four and Congost has boin sed to predicted pressing its maug" offensive among fingers three previous year to sue the pacent next year. On the prove membrulhly in OTC but other banki, M. Strauss, developed countries.
"I believe that if the United has not acted on the request. manager of Commercial ....... ite- air Besle said both the seach of the Aluminium Cory- States were
check the momentum of its trade agres ciprocal trade ack and the Old pay of Americs said total mom progabile, the movies work "mong the tools that fuminium supply for 1958. threat in the trade one could, AT ONCE? DE I PRCORSETI. SRouffre by 7 per cent is Toomain NAR DE GARte. 1.5. kado bellay, me Login 227 million
Special Opposition to the present › Proks.
2431
said: Communist nation
USA
ORIENT
ROUND
WORLD
You can fly
sall your