THE CHINA MAIL, TUESDAY, FEBRUARY 4, 1958.
TRADE and COMMERCE SECTION
The Word On Everyone's Lips Is
ZETA-Answer To Fuel Problem?
PHILOSOPHER'S STONE
OF
THE
20TH CENTURY
By RONALD BOXALL
London, Feb. 3.
"ZETA" is the word on everyone's lips. And no wonder. It is the Philosopher's Stone of the 20th Century, the means to the ultimate in cheap fuel.
Gone will be
on
this Island's dependence dwindling reserves of coal and expensive imports of oil. Our fuel will be as limitless and accessible as the sea itself.
HONGKONG The New York NEW YORK
STOCK EXCHANGE
La
Stock Market
New York, Feb. 3.
The stock market climbed through the recent staunch resistance area in the industrial shares with breadth and vigour today.
الأن
Our Own Correspondent Business done on the Hong-
Industrial shares moved National Cash Reg. "A" kong Slack Exchange
this
ahead under the leadership of National Dairy Prod. op the sicel, amourled morning
and chemical proximately $554,000. Noon
sections. quotations and the morning's
Eorller in the day the issues transactions were:
Irs iny чуљзи connected with missiles r up small amounts in active trading 10 37 Launching of the nation's
space satellite.
Buyers Sellers Balen
Share
BANKS FC Bank
120 INSURANCES Unlem.. 70 71
Waterboat neo Wheelnek 0.00 6.40 DOCKS, ETC.
140 120 60 31
In perhaps 20 years' time, the energy latent in sea SPPING
water-energy that can generate heat many times more intense than on the sun's surface -will be a power source for British industry.
will probably be the sole source. One day
ure
And not only for Britain., could use them? The new bill tries to answer these questions, Other countries
just heavily dependent on imported fuel to drive their generators. For these too, an industrial revolution is in sight,
con
K WILT!
15%
4%
COTTON MARKET
Japan's Trade With Canada
Toronto, Feb. 3.
Final figures will show that Canada's exports to Japan in 1957 rose to a record of about US$140 million, or 10 per cent above 1956, the Japan Trade Centre here announced today.
It estimated that Canada's purchases from Japan remained at about the 73$60 million level of 1950,
Canadian exports registering an increase included pig iron, strel Ingots, barley, fitx seed, mustard aced, woodpulp sulphatë and aluminium.
Increases
Japan to
in
exports
SINGAPORE STOCKS
Singapore, Feb. 4. Brokura today quoted the by following stock pejorat New York, Fab. 3:
Opening Canada included and photographic Bu Lintang Rubber Co. Cotton futures today re- cancras
sumed the reactionary accessories, radios and radlo Bertin Borneo Petroleum
clectrical precision tendencies under way at apparatus,
Instruments and a variety of the close of last wook. Slowing just above the day's tools. levels the list showed
THIRD PLACE?
The Trade Centre comment- ed that In 1890 Japan was Canada's fourth largest
that final and tamer
gures may place her in third pince,
14
20%
Mallonal Lead
101
National Sleed Corp.
lowest
New York Central
Norfolk & Western Ry.
15
Olin Mathieson
Oils Elevator
5011
Owen-Ilinois Class
aj
net losses of 27 to 45 points. The market opened unchanged to off 10 points. New Orleans closed off 20 to 30 points.
Syzdicate
419 Consolidated Tin Smeltere
Ori.
209 74 Fraser & Neave Ltd Ord.... $3.00 Fraser Neave 1 cum.
pref
$4.03 Gammons (Molaya) Lid.
Hongkong k
Shanghal
Banking Corp.
$430
Hongkong Tin Ltd.
on
the
Oxford Paper Co.
2042
In
the
Pacino Casa Eloc.
50%
first
Han American Airways
Paramount Pictures
Parke Davis Co.
007
Penny J. C, Co. Penn. Balt Co.
243
found
epurls of activity. mirket opened lower and con- 3344 tinued to give ground gradually for the rest of the session.
Mr T. Ijima, executive direc Accumulated weekend hedge tor of the Centre, Lald: selling plus liquidation by dis- increase in Japanese purchases 65 couraged longs
trade from Canada is gratifying, 'and
SUD- 1957
Kumpas Lid........
$1.00
Kuala Kampar Tin ....
276 64
Luna Rubber Estalen Lid. 31.03
New Berandah Rubber Ch.
Malayan Breweries
62.15
Ltd.
$3.3736
"The
Petaling Tin
d.
13.10
Hamles Hotel ........
12.00
Singapore Cold Storage
10.00
Stratis Trading
$1.7251
Strait Steamship
$10.00
buying
Cins late in the day tonged to more than 2 polats in the steels and oils. Special Issues had some wide gainers, too,
Chrysler ran more than a point to lead its section higher.
Chryster is a number UIC missile producer as well as the third Jurgest auto company. 200 of 10% Allled Chemien, up nearly 2000 10 points, featured the chemicals. Railroad issues firmed to confirm
in industrials.
DGB
200
Provident,
101
IN
LAND, ETC.
X Hotel
12.50 12:0
11.50 1150
16.40 19.50
500 k
500: 12.30
100
500
105 1534
200
33.75
the rise in
International
chines spurted
rose more than 2.
130
Up to now, the CDC could-
IK Land 33.50 continue with existing projects, but it was not allowed to start
Humphreys, 16.30 14.20
135 new ones in colonies after they Healty...
21.80 Chin E. Now it Cheap electric
Independent, power is the become
RUBBER
1.30 Angle... 1275 1,525 1100 40 factor of economie development. embark on projects tha!
15000 12.75 And the prime factor of were approved before independ-
2000 develop- electrical power is capital. Put
cncc, 11
can mansge ment the two together, and you have
projects for the newly- the Colonial Development independent countries and it con
modity
extend schemes or Corporation,
originally approved before in- dependence.
It
that
The Bill
therefore, that detalls of "Zela" the House of Commons despatched a hill providing more capital to the CDC,
la significant,
in the samo week
Harwell released
build
Phillp Morr
Procter & Gamble Co. Pittsburgh Plate lam Publicker Industries Pure O...... Radio Corporation Radio Corp.
Pref. Republic Steel Reynolds Metal
Sinclair Oil"
Bocony Mobiloil
Bolar Aircraft
00
4516
buye to more reserved in face | we hope it will prove
dulinces in the stimulus to increased 31 of continued
textile market, plus loan and by Canada from Japan. legislative uncertainties. Some "We are concerned for the 38 traders had expected the govern- future because, in addition to
ment's minimum 102n an- nouncement over the week-end. Volvine Open interest
46.700
an existing and large imbalance, Canadian purchases in Japan are not keeping pace with the increased demand' in our try for Canadian products
2
Sears, Roebuck Co.
Saint Reg. l'aper
30%
3014
Month
Mar
17,500
May.
22,000 350,900
July
23,300
217,200
24,700
100,900
Dep.
20,100
1,500
Mar
13.700
ert 000
21,700
July
2,400
11.200
Total
159.200
1,168.100 bales
*
Business Ma- more than 7
points late the day. Zenith
South Puerin Rico Sugar Southern Co. (The) Sauthent National Gas Standard randa
Standard at of Cal Standard Oil of Ind.
standard Oil of NJ
the market.
Vast amounts of new buying orders came into
24.40 There was an almost equally lurge amount of orders to sell 0.00
stock. Hence net changes hold
a narrow range with most of them on the upside.
Trust
120
125
UTILITIES Tears
2400 BLAN
Star Ferry Yauusti C. Ligtit
(0)
100 123 120
97.50 200
17.50 17.00 1040 171, 10000171/0 000 11.00 17.50
to
Electric
27.30
that
20 500 27.40
500 MOUR 1000 27.50
27.50
Macao E...
10.90 Telephone 20.30 27.10
200 14
27
214
27
200
#17
500 4
INDUSTRIALS
Another clause enables the CDC to act as managing agents 4dvisers on developmen* Independent
thr
to matters
country Commonwealth wants to call upon it,
uny
Last Word?
None of this capital of courze will be used to build "Zelas." Not all of it will be used to Clearly this is not the last conventional power word. The сос exists to stations. But the two events All the gap in economic develop at Harwell and Westminster-ment between the "social" pro- should be considered together. jects of the state and the profit
making enterprise of private
Soon it
Cement... Amex CarY.
20
23.40
100 3.60
10,30 16.30 16.40 4.000
1000 10.40 17.30
200 L 12.30
STORES ETC. Bary .... Watson
Ila a fact that the generation concerns. Its particular held is
COʻPTONS of heat from. sea water is now a that vital sector of a developing
Nanyang capital practical proposition.
MISCELLANEOUS Vibro ventures und state seldom will be possible to use that heat economy where private
Bnance is not available. Power Sungala... stations, for example.
«
to produce steam to drive turbine. Then the cost of other
being
fuel, being what It Is, (even when supplies are not neld up for political reasons) generallon of electricity from sea water will be a com mercial proposition too,
the
Accounts
Another fact is that the CDC
is in the power station business. When its last accounts were 'published over a third of all the capital approved for expenditure for by the Corporation was power projects. It amounted to inore than £27 million.
The Corporation has come far since the days when it brought scora upan itself for starting such projects as deep-sea fishing in water where there were no ish, and egg production where hens died of malnutrition and disease.
All that ly now behind it and the Corporation is tocking
financial
ahead. It is not satisfied either with the
present arrangembats or the scope of
ils activities.
It resents the burden of debi loll over by the previous man- resents the It also agemem. fact that its operations 1250 curtailed from the moment colony wins its independence.
Increase
of
The need for this kind development does not end when
a
0.50 8.00
10.50 1.00
5
0120
100 12.4
country becomes politically LONDON STOCK
independent.
In colonies thal remain dependent on Britain it
is as great as ever.
Even the
older dominions could benefit by the experience amassed over the past ten years by the Corporation's staff.
MARKET
London, Feb. 8.
I may be many years before The stock market closed higher and active today any of these countries have
buoyed power
by
stations running on sca
triumphant water. But when they do, it
may
well be the
Colonini
Development Corporation-under a new name appropriate to its greater responsibilities and with vastly expanded resources-ihat will help to finance the bringing of this revolutionary Express Service.
power
Singapore Will Lose Textile Business
Singapore, Feb. 3.
outer space.
America's entry into
Giftiged securities Jumped sharply with gains ranging from two to more than eight shillings. Blue-chip Industrials reacted favourably to the renewed con- Acence
the free world. of
| Unilever roce Swo shilings while most other issues posted nins of fretions to n shiling.
Royal Dutch led a strong all list, reaching a new
high at £15. Shell closed 3/- higher, while British Petroleum was up u shiling.
All the issuta connected in any way with the myriad mis- sile programmes moved higher. Some wore yory active.
Corp.
Steep Rock (Toronto Expe Sterling Drug Co. Stolcely-Van Camp. Studebaker-Packard Burning Mining Swift & Co. Texas Co.
Textron Ine. Tide Water Assn. Oli Time Inc.
Twentieth Century Fox Eun
Union Carbide
in progression Oil of Cal
Union, Pacific Hallway United Aircraft. Vaited Ga3 Corp. UB, Poll "B"
V.B. Gypsum
The heaviest traded issues included Royal Dutch, helped 10,000-share opening and in nos. Hubber way connected with missiles.
Railroad Issues Armed. Oils were higher in most instances although Gult lost more than a point. Royal Dutch and Skelly rose a point each.
New York Stock Exchange bond volume was $4,950,000.
New York Exchange volume was 2,490,000 shares.
Stock American volume was 640,000 shares.
Exchange
Of a total 1,150 issues fraded, 642 were higher, 281 lower, 233
Dow-Jones closing averages
were:
30 industrial
20 Falls
18 utilities
stocks
Comm. future price index:
Closing Prices
Allied Chemicals Alled M Inc. Allis Chalmers Ain. Brake Shue American Airline
American Cable
Corp
American Cynnamid C. Amer. & Furg Power Am. Gas & Electric Am. Mach. & F'dry American Metal
American Simelting Am. Bugar Hol American Tel. & Tel. American Tob. ""
Anzoonda Copper Armed Steel armour ang All Con. Mining Baltimore & Ohio
Beneficial Finance
Benguet Cons....
Foreign bonds were quiet and Bethlehem Sical mostly unchanged.
Dollar stocks were higher and
A Djakarta businoseman sold active-United Press,
here today that Singapore
will lose a major part of
a
its antreport textile trade with Indonesia
01
tho result of the elgning of the Japanese-Indonosta ropar- qtions agreement.
London Metal Prices
A beginning is being made to remove these resentments. The Government la revlewing the Corporallon's financial arrange-also a commercial lawyer, said today with spat unchanged and
the
Dr. W. Widjatmika, who is
London, Feb. 3. The in market was easier
three-months 1 points lower at 27284. menta. Many people, including about 80 per cent of Indonesia's purchases from Japan
Other metal markets were management or CDC, will textile
through Singapore barely steady. Prices closed at bo dimppointed if this does not were made result in permission for the but the treaty would enable the end of the unedictqi after- Corporation to write off the debt Indonesia to buy textile direct noon session, in sterling per urising from its early allures from Japan
Dr Widjatmika said details of long ton as follows:
At the moment, it is required
3-month
to make provision for these the reparations agreement have Tin pot
not yet been fully worked out-morth depts and sill pay its way.
but they would definitely bene-Copper #Dot Meanwhile, the House of at Indonesia, in that busines-Lood 1st half Feb. Commons has passed a bill in- |mon will be able to cut out the creasing from £100 million to import premium charged by ne ist half Feb.
£150 million the amount that Singapore "middlemen." the CDC can borrow trom the Dr Widjatmikais flying to Exchequer and elsewhere to Tokyo on finance its profesje.
and
Wednesday to idek Japanese advice for the Indo- nosla
May
Buy Sellers
723
7505 T2Bk
1031 108
103
73
May
United Pres
Ministry of Agriculture Exchange Rates on the development of deep sea FalingUnited Press.
Borden (The) Co
Burroughs Add Machine Campbell Soup Co.
Canadian Pacino R.
Cat Tractor ...
Celatione Corp.
KANDB
110.00 12.49
151.72
8144
154.12
2511⁄2
374
17%
Badiu
C. 1. T. Financial Corp.
Chrysler Motors
Cloett Peabody
Colgate-Paliolive Co. Colombian Catbun Co, Commercial Credit
·Consolidated Edison Continental Oll of Dei. Crown Zellerbach Cuban Amer. Sugar Hamond ADcall ... Bamond Match Co. Douglas Aircraft Dow Chemicals .... thupont de Nemours Eastman Kodak ... El Paso National Gas Family Finance Corp. trestone Tyre & limbber Ford Motor.... tieneral Electric General Motors Gen. Pub. Util Cildden Com ... Goodyear Tyre
Heyden Newport Corp. Ingersoll-Rand
Inland Stool Co.
Interchemical Corp. Int1 Bhimbers Machines Int'l Harvester
International Nick) Int'l 2014" Tel® Kennecott Copper
Lockheed Argraft....
Meyers Tob. G.
Loews “Incorp: Lone Star Cement Co. Lowenstein & Bone ....
Alpert this Meddel
(Am
But it is the question of the ODO, future sphere of selfvilles that arouvon kernert, Interest,
Business was done in the Joen!
marketi unental excitange should "Ita kk11 Why
shorning at the moltewing raten:wine experience be denied to colonies Agreed Merchant Rates er (3) ones they become indépendent?
arung dotes","tiret 21 Why, Indised, "should they not Canadian : Maximum Sell- Astralian noves (per 211 .. be put
Indonesien-pipar 190.1126 Monsanto Cuemical Co. Blam ticel (per 100) Bingapore (Stem!)
at the diagonal" hd saying 17~1/18 Balmien Buying Commonwealth orantry that ¦ 17×5/10 T/T, 17% 0/D.
5.87 Mezani Iron, 15:57 amnespitining *39 40 | Idkrbel Developkilerit ·
20,00 fontgomery Ward
11 Motorola Ina.
V.B. Smelling Warner Bros. Westinghouse Electric Western Union Tol. Co. Wert Va. Pulo & Paper Woolworth
United Pre
NEW YORK
Prices of cotton futures closed today as follows:
Sput, 30.15n: Mar., 33.05; May. 11.10: July 35.08: Oct., 34.50; Dec..
3122: May. 34. JUŻY. 31.30; Mar,
29% 33.23.
2915
NEW YORK
RUBBER MARKET
New York, Feb. 3. Rex rubber futures closed
today 15 points lower to
6 points higher with sales of 35 contracts.
22.00: May, 27.08; July, 1125) Sept. 17:30. NO 130: Jax:
21,28;
27.30.
NEW ORLEANS
Prices of cotton futures closed today as follows:
Spot, 34.50; Mar., 35.00: Bay. 35.21: July, 33.07 Oct., 24.45: Dec.. 34.40; Mar. 2; May, 3421; July, 3324- Used Press.
Cotton
LIVER FOOL
Reuter
in future closings, pence per lb, were as follows:
Old citrac
Mar/Apr.
May/June
July/AuR.
OCV/Nov. Dec/Jan.
Mar/Apr.
*
United Engineers Ord. ... $1.20 Wear Bros.
* ccl. — China Mull Special.
NAMESAKES
Auswers-1 Glamour. 2 Parallel, 3 Scenery. 4 Miranda, 6 Volce, 6 Cameras, 7 Jest, B Comedy, 9 Husband, 10 Venus,
11 Entertains.
Glynis Johns.
P.OBI
E&A
COMPANIES
Bree (fongkong
PASSENGER/FREIGHT SERVICE -
PENINSULAR & ORIENTAL S.N, CO.
"CORFU" "KARMALA" "CARTIJAGE"
"OHUSAN"
Homewarde "CANTON"
Leaves London Balled 7/1
Sailed 11/1 Sailed 28/1
5th February
15th February
6th Mar.
15th March
Leaves Hongkong 11th February 14th March
4th February 23rd February 16th March
10th March
5th April
7th Apru 13th April
Due London 14th March
Chatwards
26.03
"CANTON" "SOUDAN" "SURAT"
*
Now contract
20.50
*
May/June
20.90
July/Aug
Oct/Nov.
27.40
Dec/Jan
SAO PAULO
Collon cruzeiros follows:
future per
closings,
In
klio were
as
"CORFD" "BOUDAN" &
14th Apri
19th March
25th April
"CARTHAGE"
Tith April
12th May
Blay
40.10
July
Det
49.50 ...unqueled
29th April
10th May
In the United
States, the
average price of one-inch cotton at 14 designated spot markels was 34.00 cents.
Total sales were 13,584 bales.
Standard contract closed of 15 | —United Press.
to up 5 points. Closing prices
were:
March. 20.60; May, 27.50; July, 2125 Sept, 271.30: Nov. 21.30: Jan. 21.30
The hollday at Singapore and
30 quietness of the London market curbed activity here. About the Funty feature of a small trade was
the intra-dealer exchanges May contracts for physical rub- ber. Spot No. 1 Rss was quoted at 264 cents.
LONDON
of
New York Sugar Market
New York, Feb. 3. Sugar futures closed today as follows:
Contract No. 4 (world)
Mar.
May
The rubber market was very quiet with spot quoted ai 23% Fence per lb. Prices: 401, No. 1 Ras, spat......
July
Sept.
Oct.
Mar.
May
23-2354
Total le: 150 contracts.
2311-231
Spot price: 3.69 foh Cuba
centa,
pound.
Open interest: 6.41n contracts. Contract No. 6 (domestic)
unquoted
Mar. May.
G.0 5.65 5.70
3.70
Settlement house term: March
37% April/June
July/Sept.
Oct/Dec.
13 Jon/Mar.
473%
Feb.
July General markets, elt basia, ports:
29 Mar.
19
April
Estate crepa thin Feb.
thick rcb.
AMSTERDAM
The rubber market wea quiel. Prices closed. in guilders per kilogram, cif Feb. as follows: No. 1 rubber
No:
No. 1 crepe
1.24 not.
2.10 noni.
2.00 trení. 1.37 NOT. United Prem
AUSTRALIAN WOOL
PRICES
Melbourne, Feb. 3.
Sept.
Nov.
tics 156 contracts.
Total sales
Spot price: 3.05
eif NY Ex-Guly
ceata a pound.
Open interest: 1.005 contracts.
-United Press,
New York Foreign Exchange
New York, Feb. 8. Closing rates were; Canada England oficial
Australia
30-days
New Zealand
South Africa
Ecuador
India
Pakatan
101-19/17
2014
2120-5/18
Others unchanged-United Prou.
Prices were up 271⁄2 20 5 London Foreign
cent aliova last week's closing
when the serien eight wool bales of this season opened here today.
Exchange
London, Feb. 3,
Closing ratta were:
Competition for the 15,000 bales orered was keen with New York
Westinya, Montrent main support from European and Japanese blockers, Amslerdam
brussala followed by British and 100 m *boyvis.
The top price for the day was suck haulin 100 pepco United Press,
Others
*
*
"CHIUSAN"+
Via S'pore, Penang, Colonsbe, Bombay, Atten & PL. Bald.
* "SUBAT" omits Colomba & Bombay, calls Genoa
↑ "CHUSAN" also calla Marelles.
Mintselilow & extends to Hamburg, Rotterdam & Antwerp.
1 "SOUDAN" omits Colombo, Bombay, cális Davre and extende Hamburg, Rotterdam & Antwerp.
*
E
BRITISH INDIA S.N. CO., LTD.“
"OLINDA"
duo 10th Feb. Kalja 11th Feb.
"BANGOLA” due 145 Feb.
salla 15th Feb.
"FULTALA" due 9th Mar, Kali lith Mar.
from Japan for Singapore, Venang. Rangoon, Calcutta &
Chittagon
tom Calcutta, Rangoon, Pasang & Stigadore for Japan
from Japan
for Singapore, Penang, Rangoon & Calcutta
P. & O./B. I, JOINT SERVICE "IKAUNA" dae 13th Feb.
sails 28th Feb,
“UMARIA" dua 19th Feb.
Balls 21st Feb. "URLAŅA” #sül, 2nd Mar.
"OBRA"
its 4th Mar.
Aud 4th Mar, kajte (Mar.
trom Japan
Cuwait
for Blogppare. Penang. Cochin Bombay, KETA CH", Baarah Se Khorramshahr
From Karachi, Kombay, Cochie de Singapore for Japan
from Karachi, Madras, Penstig & Singapore for Japan
from Japan
for Singapore. Bombay, Costila de Banyolgar
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE" duo 5th
Tob.
from Australia from Australia for Japan
"MANKIN" da Ath Diaz. ills 70, Mar.
All vessels hayo liberty to call at any poria on or of the paula & ika.rostle ✯ callings are subject to change or amendment with or without moifes.
For Tulpantieulies apply tá;
MACKINNON, MACKENZIE & CO.
ĐI HONG KONG L Telephone Nos: 27721-4.