"-
CHINA-MAIL, MARCH. 1937
SHARP BOOST IN SILVER
INDIA **WAR”
BUYING
FREIGHT RATES ↑ TO HONG KONG
INCREASED
ON IRON & STEEL CARGOES
(SPECIAL TO “CHINA MAIL”)
Hamburg, To-day.
NEW YORK STOCK MARKET
Messrs. White, weld & Company, New York Correspondent for Messrs. S. E. Levy & Company Report:
StocksAuto production is gaining, on apprehension of an im- minent rise in price, Mr. Henry Ford being the main deterrent to. such a move. Auto output indica- tions for March are over 575,000 Hong Kong and: Shanghai are units. The better earnings of the vitally effected by an increase in American Can Company are induc- is attributed to large buying by freights on iron and steel ship-ing short-covering Rail char-i Indian operators, who interpret ments to the Far East. the recent rises in war risk in- surance as an indication of the greater possibility of an armed conflict. *
London, To-day.
Yesterday afternoon's sharp rise in the price of London silver
These fears are not shared by London brokers, who consider them merely resulting from the risks of floating mines in the Mediterranean, number of which have been sighted in re- cent weeks.
Yesterday afternoon's market was all one way, hence dealings were most difficult.
Many buying orders are still unfulfilled but brokers point out that the rise, which is based on the above reason, is probably un- justified-Reuter.
PRES
tists are hopeful of new high levels Decision to increase the freight in rails. Baltimore buying predicts rates on these two exports
that a major share business will be taken yesterday by the Far Eastern provided by the steel industry. The Shipping Convention, which is outlook for oil, coppers and mail- meeting here.
orders is still favourable
and
The new rates, which will be im-Spring buying from the leading posed as from March 1, are as fol- mail-order stores has even exceed- ed expectations. London feels that lows:.
the additional production of cop- per is only partly allaying the growing demand. There is some concern regarding profits in the various industries, in view of the shorter hours and higher wages, unless these are off-set by propor- tionate rises in prices. Business done:0,000 shares.
Iron bars, 25/6. Cast iron and steel girders, 23/6. Rolled wire, 35)—. Gasometer and tank plate of a thickness of three millimetres and up, 27/6.-Trans-Ocean.
MALAYA LABOUR SHORTAGE
A shortage of Chinese labour in cer-
Wheat: We expect that the tain districts, which threatens to be gradual further advance in Argen- come acute, is causing concern to Ma-tine wheat will help the hardening laya planters.
of World prices.
The immigration quota for Chinese
has recently been increased from 4,000. Total sales: 24,538,000 bushels. to 5,000 a month, but the incidence of Cotton:-Old-crop long-interests, COMMODITY PRICES the quote has raised the cost of pas- especially in May, appear to be tak- sages from China ports to Singapore ing some profits. We think that this to a figure which probably precludes
The following quotations have the been received by Reuter:-
Prev. Yesterday Closing Closing
bonafide agricultural labourer is a good policy, with a view to coming to Malaya within the quota.reinstating in October position on
The need is urged for co-operative any set-backs. action between the Government and] the planting industry to deal with the situation...
Chicago Wheat:
Flashes: The American Loco- motive Company shows earnings for the years ending December 31st of $1,156,657, as compared 133% 133
with a loss of $1,421,289 for the 115% .1143
111% previous year.
New York Cotton:
March
13.42
13.71
May
13.00
13.28
July
12.75
12.99
May
October
12.20
12.44
July
December
12.10
12.38
September
112
January
12.08n 12.38
Chicago Corn:
Spot
13.60
13.87
May
107%
106
New York Rubber:
July
102%
March
21,81
21.70n
September
95%
May
21.02a
21.90
Winnipeg Wheat:
July
22.16a
22.06
May
1274
1277%
September
..22.18
22.08
July.
December
22.18n
22.10
October
123% 112
122 111
THE
Authorised Capital
Paid-up Capital
*
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