Wall Street Domestic Shares
Continues UpwardTrend
Bullish Effect Of President's Spooch
New York, Jan: 8, The stock market closed
with higher today
air crafts, steels and motors strongest at the finish.
Stocks made some of their best gatna after President Tru- man told of preparation for full wartime mobilisation "If that should become necessary."
Metal mining stocks were in heavy demand.
Wall Streeters were virtually unnalmous in vlowing the Pre- sident's "State of the Union"
to Congress as bullish.
message to
Douglas Aircraft was nearly three points higher at one time, while Beeing was up two and Lockheed more than 12 point. Automobile stocks profited to a lesser degree.
were
In
Demand
In
London, Jan. 8, The recent riso domestie shares on the Stock Exchange was 1000- tinued today. Buying, wa more selective, however, and brought sharp calms to sluppings, textiles. Irons and steels,
ollin
Government bonds were
irregular, narrowly were mixed and minings Argentino and firmi Brazilian stocks showed firmness on good support.
The Financial Timea Index:
I'ress.
118.0-Asociated
Strong Rally In NY Cotton Futures
New York, Jan. 8. Colton futures came back strongly after a shaky opening and railled as much as $4.15 a bale from the lows, carrying all deliveries from May for- ward into new seasonal highs.
THE GELLIVA DAMKLĄ TUBOLAENA,
JEALLY ASTRANA
I.
Washington Still Discussing R. L. Export Of Malayan RUSH TO
Rubber To Reds
London, Jan. 8.
Shipments of rubber to Russia, China and other Iron Curtain countries are under discussion by high-level officials in Washington.
American criticism of Britain for allowing| Malayan rubber to be exported to Iron Curtain countries has recently increased as a result of the United States Government's decision to control all purchases of natural rubber.
HONGKONG
SHARE MARKET
are
OFFER TO
BRITISH LABOURERS
the
in
American manufacturers finding strong support in Gov- the view ernment circles for that shipments of Malayan
her rubber to Russia and
London, Jan. 8, satellites should be banned now
In an effort to increase that supplies to American in-flow of emigration from this dustries are strictly controlled. country to Ontario in 1951,
American manufactureru
selection officers aro arriving have succeeded in winning over Britain next month.
from Ontario House, an important section of Ameri-
have they will visit the main towns can public opinion and
deal of vitu- inspired a great
in Britain offering a wide range of guaranteed work in Ontario the quick turnabout in senti- the Stock Exchange this morn-Perative Press comment
Since July China has entered industry and construction pro- $105,207, the rubber market as a large ment was attributed to these ing was valued at
jects. main reasons, firs:ly, the fallure The
and half day's business of President Truman's message noon closing prices
buyer. Malayan expert figures A new scheme to attract more were as
show that Chinese purchases skilled and semi-skilled workers to deal specifleally with farm follow-
controls,
secondly, BARER DUYERS SELLERS BALES expanded from about 20 tons into Canada is being started in the first half of 1050 to over the New Year, an official of On- price evidence of
of broad demand from
511200 30,000 tons between July and lario House sold last night
November. The value of these "In many Higher prices were paid for domestic mills and exporters
instances," he said, average "the cost of Bethichem, Chrysler, General on the reactions.
shipments based on
passages will be prices was over £3,000,000. Motors, Case, Goodyear, Ameri-
Although Russla bought about Ing labour. Repayment will be
advanced by the industry seek 23,000 tons of Malayan rubber
Other groups generally higher rubbers, chemicals
and slocks.
Ralis, farm oments, oils, airlines and building materials were mixed.
Metals mining shares attracted attention because of the decision to postpone, at least for the time being, the chumping of ceiling prices on copper, lead and zinc. Benguet Consolidated rose à to 142. It was the second most active stock on the list.
The market opened 17 to 27
The
volume of business on
BANKS
HIC Bank Eant Anto INSURANCES
Unions..... IIK Firo
can Smelling, Ilomestake Min-points lower and closed up 15 DOCKS, ETC. ing, McIntyre Mining, Eastman to 59 points. Prices closed te- Kodak, American Woollen, and day as follows: Sunshine Mining.
Spot
March (1031)
July
Trimmed were Montgomery May
Ward, Caterpillar Tractor, Union October Pacific, Boston and Maine, March (1032) U.S. Gypsum and Santa Fe.
Pittsburgh Steel $5 preferred skyrocketed $9 a
the directors
dividend.
May
share
declared
after Spot a $25 May July
Dow Jones averages:
K. Whart LAND, ETC.
HK Hotel INK Land UTILITIES
Tram
44.03
43.60
43.24
42.75
39.99
30,44 nominal 30.15
-United Press.
C. Light (0)
C. Light (o
NEW ORLEANS MARKET
43 20
October
43.13-43.17
(3. Share)
Ewerte
115
200
500
145
BA
0.00
733 @ 31
10 10 000
ส
1051
1200 10
500 m 1011
2003 101
10000 3.50
In July and August alone her made over a period of months, or even years, through pay-roll purchases in five months from deductio
deductions. to November showed a
is an urgent demand "There reduction on the rate of
in Canada for hundreds of
slight
LAY DOWN TANKERS
British shipbuilding yards arg In a feverish wave of activity all because of the world thirst for oil,
There has been a big jump in the number of tanloors bulding.
At the end of September, total) tanker tonnage under con- Atruction in Great Britain and Northern Ireland -WIE Over 1,100,000.
by
The figure is probably up more than 500,000 tons today. All the eight slipways in the big yard of the Furnes Ship-
Butting Company
occupied by tankers.
here arc
ALL-DOLLAR ORDER
One of the largest, the 25,000- on Magwa, is direct all-dollar American oll
order from company,
an
Another of the tanker is being butt for Sweden.
In this one yard alone the value of the tankers building lo between £15 million and £20
million.
is
On a notice board in the yard a sheet showing the state of the company's order book. There is enough on it to keep the yard busy until the end of
1953,
INSURANCE
her purchases for the first had draughtsmen, tool and die, and BUSINESS
of machine-shop workers, as well
of last year. Even So Russia bought some 60,000 tons
workers and Malayan rubber in 11 months as construction
This year to November. At average prices general labourers," these shipments
people emigrated worth about 10,000
io Canada, of whom half have settled in Ontario, In 1951 it
A RECORD
London, Jan. 8. Insurance
companies
Americans are also very con-is hoped under the new scheme today reported record business
21
50020
2011
42.7042.72
500 ☎ 21
wero
36.03
1400 @ 20%
about £20,000,000,
December
30,48
Telephone
10
242.29
March isz)
36.30
INDUSTRIALS
SHIPMENTS TO HE
15, Rails
70.17
Any
20,10
Cement
Uniled Press.
Hope
13
10 Utilities
41.77
STORES, ETC.
-Associated Press.
Dairy
Dairy (New)
Watson
10% 201
20 Industrials
ANOTHER
JUMP IN
WOOL
Sydney, Jan. 8, The price for greasy merino wool jumped 15 to 20 per cent
at the start today
series of gale,
New York Sugar
Futures
New York, Jan. 8. World sugar futures closed
higher, today
with Galet totaling 97 contracts.
Contract No, 6 closed today
3 to 4 higher, with sales totalling 131 contracts,
Prices follows:-
closed
Contract No. 4 (world) January (1951)
today
AY
0.65 traded
of a new
March
5.55 bld
May
5.55 traded
July
6.30 bid
Spot
5.35
Contract No. 6 January (1931)
0.55 bid
March May
July Spot
5.65 traded 6.00 bid 9.74 traded 0.50
• The increase was over rates auction in at the previous December, when levels were at a record high. A rise had been expected by wool men, but they had expected it would be not morc than 10 per cent.
A marked
feature of
Unlled Press.
guess the quiet operation NEW YORK BANK
of agents of the United States, which is expected to buy wool heavily in Australia in the next
few months.
Only a few medium priced
QUOTATIONS
New York, Jan, 8. Bank quotations:
bid asked 2511
Market In
Silver Develops
the amounts
of that
some 20,000
cerned about rubber which are being shipped will go from Britain.
to Hongkong. They fear these shipments will And their way Into Chinese Communists hands.
མ
Malaya exported nearly 37,000 tons of rubber, worth £14,000,- 000, to Hongkong between Jan- uary and November last year.
Hongkong also imported nearly 2,000 tons of Indonesian rubber in the same period.
ban- The British view is that ning
Malayan shipments of rubber to Iron Curtain countries will not prevent them from obtaining supplies from other Indonesia and Sources notably Slam,
emigrants
Import Of US Gold By Greece
The entry
Three
for 1950.
The
Legal and General Assur- ance Society, Limited stated that new life sums assured during the year totalled £54,010,599, compared with £44,508,670 in 1918. The policies granted rose from 28,044 to 29,671.
that
The Gresham Life Assurance Society, Limited, reported total now life sums assured both home and overseas, after deduct- ing reassurances, amounted to
£8,000,000, compared
with £7,074,000 in 1949.
Now e assurances granted dropped from 11,012 policies to 10,500,
Athens, Jan. 8. of Chinese Com- munist troops in the Korean war has forced Greece to begin Importing gold from New Year.
Ordinary life business group First shipment in a purchase business of the United Kingdom
British gold organisation of the Manufactur
500,000
Now York, Jan. 8. Messrs Handy and Harman United States oficiais ace this bullion dealers quoted silver on argument but they are under o Monday at 90.16 cents per dne strong pressure from their own sovereigns-Greece's traditionaler Life Insurance Company of
since manufacturers who ounce, the highest price
must now hard gurrency--from theCanada totalled £0,130,377 com- 1920 when it
Ucence to Federal Reserve Bank in Newpared with £4,774,105 last year, reached $1.37. The obinin Government record high was set on Nov. 25,
get the rubber they need, York arrived recently by plane. 1919, at $1.375.
The prominent Democrat, Other shipments to the Bank In 1950, silver prices ranged Senator Herbert O'Conor, of of Greece will depend on the from a low of 71% cents to a Maryland, who is heading the institution's ability to meet the recent offerings have come from vestigating exports carly
high of 80 cents. Most of the
senatorial commitive in-panicky wave of open market fo Iron gold buying touched off by the Mexico.
the Chinese intervention in Korea. An impasse in the silver Curtain countries, told
Dally London
Express cor- The gold purchase by the Friday market developed last
also designed respondent in Washington that Banic is
to balt when offerings were withdrawn his Committee is to make "a inflation. and holders demanded a
price
of British Bank authorities said the equivalent to that which the strict examination
and
to re-exports United States Treasury pays for exports
domestic run on gold which domestic sliver. Monday's price Russia."
Communist move followed the that ship was Is about in Line with
He has evidence the
more than double the ments of British Treasury price.
strategic volume occasioned by the out- Manufacturers had been will-materials to Russia
and other break of the Korean War Last New York Metals ing to pay held a Tearing first nine months
the in the higher price Iron Curtain countries
of 1950 to- hey would not be able to pass talled nearly
He $68,000,000. om dollar open market rate climbed to
consumers under the added that the figures from voluntary price freeze. But on October until the end of the to an all-time high
drachmas-more than 23 per this to well Monday they raised their buying year will bring
cent above the controlled rate price and the market developed. over $70,000,000. percent
of 15,000. So far, however, the United Press.
Bank of Greece has been able to hold the gold sovereign rate at a seasonal average of 226,509 drachmas-United Press.
453
4715
lots were knocked down to Bank of America
30 American buyers in the early Chase National Bank 304 part of today's auction at the National City Bank
-Associated Presa first of the second half of the Australian wool selling season. -Associated Press.
Copra Dealings
New York, Jan. 8. Dealers quoted copra for nearby shipment on nominal basis at $247.80 per ton, C.I.F.
New York, Jan. 8. Prices in the metal market hore closed today unchanged with the following exceptions:
Tin, Grade (99,80
or higher); New York, per lb.
the Pacific Coast. In cocoanut | 170.-United Press.
oil, all positions were offered
at 18-11⁄2 cents a pound, F.O.B. mills-United Press.
Copper Quiot
New York, Jan. 8.
demanded
it
on
NY Bond Dealings The
New York, Jan. 8. Foreign dollar bonds were mixed today with some Japanese
clated Presa,
Copper futures cloood quiet. | issues velling higher-An50–
No calea-Associated Press,
THE ROYAL BANK
Aaseta
OF CANADA
Head Office, Montreal
CONDENSED ANNUAL STATEMENT
AS ON 30th, NOVEMBER, 1950
GRAINS IN Rubber
CHICAGO
Markets
New York, Jan. 8.
Chicago, Jan. 8.
Prices in the grain futurCO
Rubber futures closed today market here closed today us generally 400 points higher to follows:
the dally perdssible Zdrait, Wheat-prion per bushel, with sales totalling 7 contracts. Spot Prices closed today 鹚 March (1901)
**
December
July 63.00 nominal Corn 57.78 traded
June.
Simultaneously, the US.
of 18,500
Steadiness In Cotton
Textiles
New York, Jan. 8.
The cotton textile market was steady today. Most mills were still withdrawn, awaiting fur- ther Information on price con-
ROYAL
INTEROCEAN
• SINGAPORE JAVA PORTS and MACASSAR "NIEUW HOLLAND"‡. **TJITJALENGKA”
**VAN HIEUTSZ” **
**TJISADANE” **TASMAN****
**
to Singapore & Java,
ARRIVALS
In Fort
.In Fort
12th Ján.
22nd Jan,
.23rd Jan.
only to Singapore, Penang & B. Dell. only to Singapore,
• MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA "RUYS"
“BOJSSEVAIN" **TJIPANAS"
"TJIBADAK”
8 via Japan,
JAPAN
"BUYS"
"TJIPANAS”
"HOISSEVAIN”
ARRIVALS
19th Jan.
LINES
SAILINGS
. 22nd JaI,
12th Jan
18th J
27th Jan,
29th Jan,
27th Jan.
.28th Jan,
ARRIVALS
SAILINGS 18th Jan, gth Mar
10th Feb.
SAILINGS
14th Jan,
10th Feb.
7th Mar.
21st Jan,
Agents: HOLLAND EAST ASIA LINE
EUROPE via MANILA
and MALAYA
"MARIEKERK”
“MELISKERK”
"AAGTEKERK”
Through
to
BJ/L issued Mediterranean and Northern European Porta. O JAPAN
"MARIEKERK" "MELISKERK” "AAGTEKERK"
KING
ARRIVALS
11th Jan 4th Feb.
ARRIVALS
SAILINGS
11th Jan.
10th Feb,
Early Mar.
SAILINGS
8th Jan,
0th Feb.
10th Jan.
.. Early Mar.
8th Feb.
LELBEROSEST MISSIORITES.
AMERICAN PRESIDENT LINES
The Global Fleela
ST. GEORGE'S BLDG.
PHONE 28172/5.
TO HONOLULU AND SAN FRANCISCO vin JAPAN PRESIDENT FREBWENT WILSON
CLEVELAND
Arr. Jan. 13 Arr Feb. 4
Satin Jan, 14 Salla Feb. 5
TO SAN FRANCISCO AND LOS ANGELES vis JAPAN PRESIDENT McKINLEY
Art. Jan. 12 Balls Jan. 12 TO NEW YORK, BALTIMORE AND BOSTON via PACIFIC COAST AND PANAMA MARINE. ONAFTER
Arr, Jan. zo Balls Jan. XI
ROUND-THE-WORLD · Via Manila, Singapore, Colombo, Cochin, Bombay. Karachi, Bues, Port Said, Alexandria, Naples,
Marselles, Genoa, New York & Boston. "PRESIDENT HARDING"
AST. Jan. 15
Bali Jan, 25
The wars our generation has witnessed have brought what wars have always brought disturbances, unrest and a feeling of general insecurity--that's the way of all wars. Industry and mutual trade-useful pursuits of peace-are the endeavours in the opposite direction. This concern has argued whenever it could, that free access, free intercourse and, trądo between peoples, contributes to peace and friendliness and security and takes the tension off where diplomats, seem to fall. For, when all is sald and done, people want the opportunity to. work for a living. Trade and industry, free and untrammelled, not only con tributes to that opportunity, but is a way of life. Vessels, of our Line are plainly marked and can be recognized easily when they sal in and out of the principal ports of the world, and we like to feel that they are practical symbols of this philosophy: Iebrandtsen
INDEPENDENT DEPENDABLE- Rogular Sailings from Hongkong to New York, Baltimore and Philadelphia via San Francisco or Los Angelos.
DUE FROM:
Now York vio Manila Jab.
S.S. "FLYING TRADER"
18th
trols, The Quartermaster Corps S.S. "SIR JOHN FRANKLIN”.
wos in the
market for 33,000
680 square yards of cotton
were expected to convert
2.4534
2.4-2.40
2404-247
follows:-
Spot
2.0 2.43
March
MAY
July
54.00
MUnited Press.
Spot -December
1.01
1.7036-4$
LONDON MARKET
March (1951)
MAY
London, Jan, 8.
July
1.703 1,70- 1.701-14
Prices in the rubber futures market here closed today as follows:-
Bye
December
May
Cats
1,80%-6 1.03
$ 471,113,088.00 March
centa No. 1 rubber (in per lb.) February
April/June
December
March...
20-001
Tilin 0054-34
form twills for delivery Jan- uary-September 30, 1931, Moro
October/December
104,282,016,90
100,004,499.11
688,726,564,27|
Liabilities of customers under letters of credit
Other assets
Cash, cheques and balances with other banka
Government and other public securities 1,042,365,808.10 July/September
Other securities
Call loans
Other loans and discounts
$2,497,876,342.87|
New York Tour-per 300 lb. sack, their looms to duck cloth be
50 - 505 | #13,08--United Premi.
-United Press-
London Tin
Market
London, Jan. 8.
Spot to, sellers*. Business done at
Black Pepper
Futures
today generally unchanged,
03 on
tho
but
Capital, reserve and undivided profts $ 86,885,864.95 Thres-months tin, buyers 1.103 markets and the failure of Pre-
Liabilitics
Notes in circulation
Deposita ..
Letters of credit outstanding
Other liabilities
cause of the scorelty of that S.S. “FLYING CLOUD"
type of goods
The wool goods market was (Nem. The Navy Purchasing Oce entered the market for (0,670,000 yards of wool goods. Deliveries ranged from July, 1951 to June, 1952,
Rayon goods were firm, with spot goods generally higher,—— Associated Press,
US Treasury Position
New York, Jan. 8. Black pepper futures closed 69,487,689.81 21,447,686.59 Prices in the tin market here with no sales reported. Spot closed today at the end of the January delivery rose 10 centa official morning session
offering price, follows:-
buyers wero not interested. (Tumever totalled 1,200 tons.)
The steadier trend reflected a Bpot tin, buyers
1,170 1,103
firmer bails in the spot market. 1,103-1,170 Strength in · other commodity
Washington, Jan, B. Treasury position compared Three-months tin, sollers 1,235
message 1,165-1,185 aident Truman's
to with the corresponding date a Bettlement
1.179. deal specifically with form year ago. United Prosz. price controls
contributing Totel Debt Influences.
The New York Produce Ex-Gold Assola change reported that pepper during December decreased Iniciom wenn done in the. 1ocal: 1,539 bags to 0,041 bags. Prices nofficial IDO herkes M mooning, as the following, Intagre of pepper futures" closed today Strike bote (Dera #) MANANA 2840) ns follower
249,989.10 Business done al 2,387,509,408.93 69,437,689.81 3,849,828,08
$2,497,876,842.87
OVER 759 BRANCHES in Canada, West Indies, Central and South America. Offers in London, New York and Paris.
were
Exchange Rates stocks in licensed warehouses
UA.. dollars (per Blaingai 66008 January (1931)
Indonesia grašidas (per 1997 420 yorary,
dam Blous (per 199)
TECHDIntrest" (per 100)
20.20 March
|
13 May
and
and
$200.15.350.7
$22,650. 7.912.99
Associateî", Prem
Silver Metal Up Home New York, Jan. 8: Silvior metal soared more then 10 cents on itince becaUNTI 3.58 nominal of Hach Osterline at the former 103 Domin 147 nominal price of 80 cents per fine omoce United Prom
1.77 askod
L
SAILS FOR:
Kobe, Nagoya, Yokohama, Bon Francisco, Los Angeles, Now York, Baltimore, Philadelphia, Boston via Panama Canal Jan. 19th
New York via
Pushan, Kobe, Nagoya, Yoko- Manila fast hama, Ban Francisco, LAS week of Jan, Angeles, New York, Baltimore, Philadelphia, Baston.. via Panama Canal. Last week of Jan.
New York vin Manila fast week of Jan,
Kobe, Nagoya, Yokohama, San, Francisco, Los Angeles, Now York, Baltimore, Philadelphia, Boston via Panama Canal, Last week of Jan,
(Transhipment cargo accepted for Jamaica, Havana and other
Cuban Ports, also Venezuela.)
LIMITED PASSEnger accommODATION AVAILABLE Above Dates Subject to Change
For Information Apply to:
A.P. PATTISON & CO., INC.
GENERAL AGENTS: CHINA, FORMOSA, KOREA, JAPAN AN HONGKONG.
12-14 Queen's Road Central 4th Floor.
Tel: 25840
CHINESE AGENTS:
48 Bonham Strand West. lat Floor.
OVERSEA CHINESE STEAMSHIP CO., LTD
Tela: 28127 & 81119,.
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