SHIPPING
GROWING SURPLUS RUSSIA'S BIG
OF TANKERS
London, With little prospect of any major improvement in freight rates during the coming winter, many mor il tankers are ex- pres to
laid-up be the thru ghout
world over the next two or three months.
WATERWAY PLANS
New York.
Aslan inland waterway ex- perts being sent by the United Nations Technical Assialance Administru tion on a study tour to Russia will find there a considerable number of up-to-date hydraulic en- gineering schemes. Thely Itinerary includes Only a big revivil in, demand įrtulations and ports around by such major lunker charterers | Stowcow, which has been linked un Brilleh Petroleum, Shell and with all the seas surrounding Fare--who have been abreni The Soviet Union, and the Volga from the market for the past | chimplig route which. vin A few months-could bring aboutį centrai canal to the Don, leads any importini Improvement in freights,
in-
to the Binck Sea.
will
131 Exper
Ato nee operation some of the new ex- Tensions now being built, such Moscow-Balfir the deep canal and the completed chain ut giant barrages on the Volga,
The normal winter increase in demand for oil trasport at this time of the year by European countries and the United States 1.es not
The Suez occurred. erlis a year ago hd to hum- ber of countries Importing IRRIGATION
considerably in excess of their requirements during the first
half of this year and stocks are now at very high levels.
LOW RATES
Oil tankers are being charter- ed for single ahendi
voyages
us fir as January at today's low rules, which are Wi- economie for all but the roost modern vessris.
Current low freight levels tre expected to enntinue despite the size of the world's nelive tanker deets, which have been reduced by laying-up of vessels unable efther to obtain employment to operate profitably even when work is available,
Laid-up throughout
tanker the
of
The Soviet Union plans to tart work on the project to Lurri
southwards Russia's torthern rivers which dissipate 'hetr
Arcte waters la the ades, to make them Irrigate he Siberian steppes and
estral Asian deserts.
THE CHINA MAIL, WEDNESDAY, JANUARY 15, 1958.
TRADE and
and COMMERCE
SECTION
United Nations Publishes Statistics
World Trade Doubled Since 1938
Cotton Surplus
No Longer
Exists
Washington, Jan. 14.
International Cotton
The
today there is no longer a
US Takes Lead As
Biggest Trading Country In World
New York, Jan. 14.
Advisory Committee sald World trade in 1956 was nearly double
surplus of better grades of cotton In the United States.
The Committee said the sup- ply of higher grades of cotton
is only about half what it was
u year ago. Moreover, it said)
HONGKONG THE NEW YORK
STOCK EXCHANGE
ximately $200,000. Noom quota-
the figure in 1938, according to the first volume of the United Nations Year Book of International Trade actions were: Statistics for 1956, published here today.
the statistical situation could The Year Book shows that since World War II tight before the season."
end of
the
"There iz much interest,
therefore, the Committee said, **in what seps the United
quality cotton and domestic and ex- months
Shards
BANKS
Our Own Correspondent Business done on the Hong-
Stock kong
Exchange this marting amounted In
appro-
tions and the morning's trans-
Buyers Ball
Balık
HK Bank.. #15
60471% 2084747 INSURANCES Lombard 521
100 3231
Whericeks 4.GO 11.75 300 0.70
Duck *** 501% 3255 1903111
21 'vident (0) 11.70 11.30 1,500 g 11.05 LAND, ETC.
SIPPING
Wart
the United States has superseded the United | DOCKS, ETC. Kingdom as the world's greatest trading country.
RUNDER
$50
1904
STOCK MARKET
New York, Jan. 14.
Stocks turned irregular in today's session after a rise in all major sections featured by strength in individual issues.
Automobile issues. movers all the way, fell back slightly The utilities lost part of all of early gains.
narrow
There were many good per- formers during the course of the trading and many of them held a large part of their rise.
SINGAPORE RUBBER MARKET
The market opened irregular and narrow with the upturn
Singapore, Jan. 14. coming on the heels of an The market opened slightly nouncement that the adminis- | higher an overseas advices and tration in asking a temporary|it fucfunted freeliinally, In the five billion dollar increase in afternoon, short covering sellers were reserved and that steadied the market. Futures; American Telephone and No. 1 rubber pes lb. Jan. 1916-793% Youngstown Sheet and Tube,
features, No 2 rubber per lb. Jan. one of yesterday's
No. 3 stood out again, adding % to No,
Spot rubber unbaled Blanket crepe
States may take to assure sup- It also shows a decline in trade between Western Hotel.. 15.20 15.3 1,000 129 the public debt limit,
and Eastern Europe, despite the fact that the Land
Realty value of exports to Eastern Europe by the Ama
United Kingdom and West Germany has vrürring moved steadily upwards.
the
piles of good in regard to part prices ahead."
A
of the tributary
greut Irtysh, Siberian river Ob, the which has its source in China. will early next year 1 the world's largest man-made lake, the Bukiama reservoir, the foothills of the Mongolian mountains.
Extending over 350 miles, it will allow navigation un upper reaches of the irtysh and
us add yet another waterway to Russia's inland water sys- tem-from China to the Arctic tonnage Ocean. It may also irrigate Hie world Isrid lands between the Ural estimated at 191 ships, oggregat-range and the Casplan Soa. ing 1.870.000 deadweight tone- the highest gure since 1954. This in 200,000 tons higlier than at the begining of November and over 750,000 tous greater than carly in October.
This total af lald-up forage
Includes both trammy and all The number company tankers. of laid-up tramp tankers prob. ably represents (bout 30 per Eent 01 the total tonnage normally available on the tanker churter market.
BIG VOLUME
Mony of these ships were bulit during or before the last war and would in any case have to the breakers yards gone within the next few years, par- ticularly in view of the big
In European Russia, a similar hydraulic construction scheme is being undertaken. It will dam Up the rivers Pechora ond Viebegds now flowing north into the Barents Sca, and merge their waters with thoso nt reservoir
the Karu
оп
river, a tributary of the south- ward-flowing Volga.
The author of the plan for he Siberiana river system is reported to be putting the final ciches to a project which will provide tha; from the Irtysh and anelent lakes M-youn rivers now long dried out, a and 900-mile long irrigation
will shipping canal network And its way to the Aral Sea, in semi-desert he centre of this region.
volume of new tankers which JAPAN LEADS
will be entering service over the taxi Ave years,
There have also been toser of post-war buit; vessels being of the de- Jald-up LOCF UC
pressed state of the marine oil transport market, Some tonnage, in fact, is known to to laying-up have proceeded berths immediately after being: Lult.
THE WORLD
London, Dec. 80, The London Times reported
today that Japan is mov- ing ahead of the rest of the world in shipbuilding, but said Britain's mari- time construction indus- Shipbuilders throughout the
try was still "healthy." world are unwilling to make it knowil,
The article but there have un-
sald Japan tons doubtedly been a number of launched 2,300,000 gross cancellations of orders during of shipping in the past year the last two or three months, and thereby ecilpoed Britain's including some for oil tankers. 1020 peacetime high of 018 chips
displacing 2,000,000 tons
Nevertheless Britain's position tive shipowners during periods in the field was good, the story
of these
cancelled
Some orders were placed by specula-
of high freight rates. Others Kald. were placed by ownera
who
now find that they are unable to obtain the necessary finance for building beer use
the
"light money" situation in mony countries.
11 is believed that as a result
of cancellations-not necessarily
Britai has 4,750,000 tons of new shipping on order at value billion pounds of about one Frosh contracts gained by Bri- lish yurds during the year alco exceeded the launching total for the year.
The flow of contracts, how-
of oil taracers--some building | ever, was slightly under that of
berths are availible in Britain the two previous years.
for delivery in 1930, although
the order book of Briith yards
still extends generally over the RECORD
next five or six years,
Britain bullt 352 ships total- ling 1,169,155 tons in 1957, close to a post-war record, Just 5,000 tons under the mark set in 1955.
POSTWAR RECORD During this same period, how-
FOR LOS ANGELES
Los Angeles.
ever, Japan bad. práctically trebled its output.
British percentage of world shipbuilding stood at about 20 per cent at present, a far cry trom the more than 50 per cent of annual world output contri-
A postwar record in a single buted by these islands before day's ship movements Port of Los Angeles occurred on
Press.
at the World War Two.
Japan ranks Arst in the world December 8, General Manager picture now with Britain second. Bernard J. Coughlin told Globe Third was West Germany, just 270,000 tons behind Britain last
There is vast expansion in the throughout the world, further threatening Britain's position, the report sich.
year. During the 24-hour period, Coughlin said,
pilots port sarised in 10 arrivals and were feld called for 17 other ship moves, including departures.
in the
The committee is an inter governmental organisation of 32 countries whose purpose is to keep abreast of the world cotton situation.
The US. cotton crop in 1957 fell to about 10,000,000 bales of adverse chiefly because wouther conditions.
This was about 2,000,000 bales less than The demands. consumption dellelt will have to come from surplus stocks-United ProGE.
A Threat
From Japan?
The Year Book shows that thei recovery and expansion of trade War I was on n after World gradual pattern, similar to thot
War 1. but after World more rapid.
Wus
The differences between the
shar two periods included increase in the later one in the trade of the "dollar countries"... the United States, Conuda. Venezuelo Mexico, Colombia. and the Central American re-i publits..
Exports
NEW YORK COTTON MARKET
TTUM
Aswin
::
33
1.39
1.30 1.320
1.20
24 24.30
1363
ZAKA
8826
$1712%.
Theb
7214-7015
7314-2435
..
00-73
Youngstown featured steels Nu pale LONDON 6316-8511 with a rise of 1% to $73%. in continued response to yester-with spot quoted at 23% pence The rubber market was steady 2006 day's denial by a Federal Judge per lb. Prices:
summary
C. Light
Star Ferry. Xaumati
13
54 0332
10.00
17
1.500 17
Electric ... 26.70
21
153 17 AD 17
200 is 20.09 Bethlehem
4 2000
000 20.00
500 or 20.BO
⚫ point.
100 2020
1,000 20.00
Macho E.
24.70
10 DO Telephone. 20.10 20.30 1.700 or 20,20 New York, Jan. 14.
100 26.30 Cotton futuros today moved | INDUSTRIALS
Comment on a down-grade for the
STORES, ETC. third session in
Dowry 1830 10.00 1,000 £ 16.30 600 @ 10.60 sufforing losses of more Wartoon ... 14.00 than $2 a bale before the markot closed.
row,
Texto....
420
4,00
COTTONS Nanying n 1.40 136
Vibro
1920
$.30
STIC. 12-2-58
Their exports accounted for 22 per cent of world exports in
MISCELANEOUS 1838 and 3 per cent in 1950.
Closing prices, recovered The Year Book shows, how- ever, that the share of the Far lite from the extreme forenoon INVESTMENT Eastern countries slumped loss, still showed net losses 12 Yangiste
WHEELOCKS The market In-Divd.. to 20 points. from 12 to seven per cent. This was due principally to opened up 1 to off 10 points. Payable Japan's fature to regain its New Orleans closed off 12 to 21 pre-war trade Canberra, Jan. 14.
as points. eminence
Selling
coupled with WK major coun- Trado Minister John McEwon wiftly as other
Uurce factors: 1. Budget pro- posals to cut back farm ald countries which ex-
funds; 2.
นท Legislation government has turned panded their trade notably in
certainties, with possiblities of down pleas by Australian the last 11 years included con-
some action being taken to
London, Jan. 14. knittors for
Europe, and emergency Unental Western
boost the
acreage: 3. The Middle
Textile market dullness with Markets had another action to restrict imports the Middle East.
luctant and East nations almost tripled the
vacillating of knitted outer garments value of their exports,
reports of mill curtailment.
day. Turnover was from Jupan.
Except for metat ores, which
bad, for a Tuesday, at
announced today that the
tries,
Other
1058
Trade buying was on the recession with only a little of He said that former Chaltun increased by about eight per replacement buying: market
the level of prices of analysts said the of the Tariff Board Morliner cent,
cumulative McCarthy, the Kovernment's primary commodities in world setback since the season's highs udviser
on the
about were made et Jan. 6-10 sessions Australian- trade in 1950 remained Japanese trade agreement, had the same as in 1953-about 14 back, ran 35.59 cento a baie,
below the per cent
post-war Month opposed such emergency action
Mine the government accepted peak of 1851.
May volume yearbook | July his recommendation.
The first contains detailed statistics for Oct.
and
The Australian knitted
out-
LONDON STOCK MARKET
of the government's request for No. 1 Ras HOL
judgment to block Settlement house term
February merger with Bethlehem Steel.
March run up a point to $38, US. Steel added nearly
.....
April/June
July/September
October/December
General markets, 'eft bARER,
January
February
March...
Douglas rose a point in the circrafts Motors and oils were firm.
Eastern Airlines featured | Estate crepe thin February with a win of more than one, Rails were fractionally higher.
Closing Prices
Allied Chemicals Allis Chalmers
Aune Hean Metal Ainetica Emeiting American Tet & fel American Tob. "B" Anaconda Copper Armour Bethlehem Steel Canadian Pucine R Chrysler Mators Consolidated Edhon Cuban Amer. Sums Dupont de Nemours Fastman Kodak General Electric
General Foods
thick Febru AMSTERDAM
The rubber market was quiet today. Prices closed in guilders per kilogram, eif Jan, as follows: No. 1 rubber
22.20 nom
No. rubber
No. 3 rubber
No. 1 rope
3.23 buyers 3.15 buyers 2.43 buyers United Press,
New York Foreign
Exchange
New York, Jan, 14. Closing rates were: Canada****
Enginod official
30-4YE
90-daya
08
General Motora
CHEN
Goodyear Tyre
791
re-
Inti Business Machines
Australia
30013
1 Harvester
New Zealand
South Africa
721444
Brazil
not
India
8,175 bargains recorded but there was no sign of a trond.
to rise
British Governments were Open loterest) quiet but both Old Consols and
War Loan contrived at the £ 1/8
Victory close. bond, issued after the close of World War II, is one of
Volume
$1,300
230,300
21,000
13,200
340,000 235.400
11,300
181.800
4,300
GU,400
Mar.
4,300
30,000
May
3.100
5 countries, embracing about Dr. wese industry had claimed that 98 per cent of world trade, and
It was likely to suffer serious | the second volume, to be Total damaged from Japanese um-published soon. Elves the ports under the trade agree broader aspects of externa! ment,-United Press.
trade.-Reuter.
US Approval New York Sugar
For French Plane
Market
45,900
79,900 1.220.000 bakte NEW YORK
Prices of cotton futures closed today as follows:
Spot: 36.33 Mar: 35.47: May: 35,68-09: July 25.40; Oct: 34.63; Dre: 34.53: Mar: 34.00: May: 3450. NEW ORLEANS
Pilces of cotton futures closed. tray as follows:
Spot: 24.00; Mar: 35.45: May: 35.15: Juls: 33.40; Oct: 34.63; Dec: 31.8 Mar 34.43: May: 34.33.
LIVERPOOL Cotton future closings, in pence per lb, were as follows:
Mar/Apr: Did contract:
20:12:
international Nickel Int'l Tei & Tel
Lockheed Aircraft
Loews Incorp, Lone Star Cement Co. Montgomery Ward National Lead
Now York Central Oils Elevator Pacifle Gas & Elec.
Pan American Airways Paremour Pictures Radio Corporation Republic Steel Sinclair Oil
the Scenny Mobiol
Standard Brands
few which, Uke War Loan, are: Standard Out of Cal free of income tax deducting to holders who live abroad; bond trumbled 5/16
this
Standard Of of Ind Standard On of NJ Studebalter-Packard Corp. £02 Swift & Da.... Texas Co
Union Carbide
Union Pacife alway United Aircraft In-US. Gypsum
7090
0
in the morning, presumably on rather heavy selling from over- seas, but picked up later.
trading Chanages in
усту dustrials were few and
Unilever Was smalt.
agala Exceptional with a rise of od
N.V. while Unilever shilling.
Oila seldom appeared on the tape but they were all slightly higher excepi Royal Dutch, un- changed. Shell Transport rose 1/-, Burmah Oil 9d, the Cana- dian. Eagles fid and British Petroleum had almost un in- credible gain' of 3d. The market stendled today due to bulls
Foreign bonds shared in the squeezing in January desultory movements. Cerman contract against which, tenders non-asscnted Young Loan eased were being weighed over. 2 and the assented, of the 7 There was only a ifttle foreign percent Potash gained £1. The business as prices here have non-assented Japanese 1930s been at adverse export parity. FOJE £1
the as ki also Prices closed today in rupee per maund as follows:
New contract: Mar/Apr: 2725: May/June: 17:55: July/Aug: 27.30; COUNov: 2.76 Dec/Jan: 27.71.
KARACHI
New York, Jau. 14. World No. 4 sugar futures
today closed unchanged | MagJun 2000 July/Aug: 20.70; to i point lower with Oct/Nav: 20.54: Dec/Jan: 20.30 sales of 84 contracts. The domestic No. 8 contract New York, Jun. 14. closed unchanged to 2 points with sales of 196 con- The U.S. Civil Aeronautics higher
Administration today cer- World futures continued re- tified the French-built latively Inactive while traders rotojet helicopter awaited news on the size of the Alouette II for commer- Cuban crop and pending raw
market developments. cial operation in the Contract No, 4 (world) United States, Republic Avlation announced,
treets.
July Sept
and Oct
Sept
Nov.
Repubile in assembling marketing the helicopter, which y
by bas been developed Sud Spot-(cents per lb. fob Cubej
Open interem: 6,417 contracta, Aviation of France.
Oontract No, & (domestic) Today's CAA certification is Mar. the first given any French- May built aircraft and the Bret for: July any jel-propelled hellcopter,
Components of the hellcopter spot-cents per ib. cif NY Bre being flown in from France and assembled at Republic's plant in Farnlugdale, Long island. Eventually Republic plans to make the craft all by itself.-United Press,
NAMESAKES
ex-duty)
5.34
15.35
---United Press.
London Metal Prices
London, Jan, 14. Prices of metals Closed todas in sierling per long ton as follow:
Buyers Bellary
72436
Tu
Answers-1 Sophia, 2 Thom- It added Britain was count-hill, 3 Vicar, 4 Olivia, 3 Wake
on labour peace and ned, a ireland, 7 Welding, 8 Ing
silocations of materiala Conquer, 9 Vilage, 19 Doctor, Copper creased of Great Britain, Panama and to this shipbuilding industry to 11 Mosca, 12 Primrose,
Of ship arrivals, four flew the Liberian Bag; two each, the Alags
the US; and one each, the fing help the "country" maintala or | Equity, 14 Adventures,
Italy. of Germany,
Swedeti, oven improve 15 status---United | Eborachnos. Japan, Colombia and Mexico, Press,
Oliver Gold malth.
spot
3-month
3-month
15 Ízóna 161 balt Jun.
15
and in half peri
Zino let hast Jan,
King zet halt Apr.
4 Sind roller gin
0 Sind roller gin
saw gin 2807 Punjab roller gin
naw United Pro.
90/1
03/0
BP/14
67/8
05/0
New York Metal Futures
New York, Jan. 14. Prices of metal futures closed today in cents per lb. as follows:
Load: Jan: 1056; eb: unquoted; Zinc: Jan: #236; Feb: unquoted. Copper: Jan: £2200; Feb: wi quotes,
Tin: Jah: 91.75h: Feb; ungusied United Press.
Exchange Rates
www dono
In the local
morning, at the bollowing rice: 17344. dollar (per $11 "7′′id | Bierting notes (per #1)
Aurtraan olen (per 21).. Indonesian rupian, „per 156) !!
arica (per 1005 Bingapore (Kiraits)
United FreOR.
non-assented of the Tokyo 5% per cents-United Press,
SINGAPORE
STOCKS
Singapore, Jan. 15.
S. Rubber
U.S. Smelting
US Steel... Warmer Bro Wealinghouse Eletric
Woolworth
421
1.01 7/14 281
1.80 11/18
2234
2.80
United Prem.
London Foreign Exchange
London, Jan. 14.
Closing rates were:
New York Montreal
2.81 8/10-3.8134 37712171 10.5-10.50 13940-198.3314 11.78+21.7815 175835-1752
12016-12.20
Amsterdami
Brussels
Frankfurt
Milan
Perin
Zurich
12
$175K-11769
dud Prem
Agreed Merchant Rates
Canadian $; Maximum Selling,
Minimun 17-5/16 T/T, 17% 0/D,
201
177xd
G2R 17-1/16;
Buying,
201 -United Fred.
SHIP
BENOLINE
POPULAR
PUBLICATIONS
Chinoso Creeds & Customs Vol I
Chinese Creeds & Customs Vol. II
Baby Book
Brokers today quofed ibe fol- | King_Goorge_VI
lowing stock prices:
Batu Lintang Rubber Co.
Lid
Petroleum
$18.00
18.00
25.00
This in Hong Kong..
8.50
Hongkong Birds (Herklots) Coronation Clory
35.00
7.50
7.50
Opening
It's Fun Finding Out --- 2nd series
(Bernard Wicksteed)
5.00
Express Annual (1956 & 1957)
10,00
40%
289 d
Rupert Annual.
4.50
Ruport Magazines
1,00
•1 $4.08 Gammons (Malaya) Lid. Hongkong & Bangla) Bank-
In Corp.
$2.7216 Collection Builder Stamp Albums
Balmoral Stamp Albums
3.00
12.00
4.00
1-450
1.50
Hongkong Tin Lid,
Kumpas Lu
to Dd
1.0215
1.50
30
.50
.80
Bran Tampo
Byndicate Consolidated
Ord.
Tin Einelter.
Fraser & Nears Lid Ord. Fer à Neuvo 242 cum.
pet
20ish Kampar 295 ver Lana itubber Estates St. $1.05 Malayan Breweries,
a
New Beurlah Robber Co.
Ltd.
22 d. .....
4,30 | BIDENDOrs Coki Dornan syy KERA DUNIA Trading 12.01 vitraise Mieamship 22.30 united iments Oni. 230 || Wearsa, Břók Tasa
$1.85 $3.40 £2.00. 80.59
• exril, China Mali gsolt.),
All Nations Stamp Alburns
Ten Points About Paeria 2.
Points on Judging Juda
Outline Relief Map of China
*
Asin
$.E. Asia
On Sale At
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