Consumption In
Britain
Highest Since War
London, June 8.
Britain consumed more vil klast year thàm in any year since the war, according to estimates published by the Petroleum Information Bureau. Oil consumption reached 19,002,695 tons com- pared with 17,510,285 tons in 1952 and 16,887,908 tons in 1951.
This
expansion largely main product, Beltish refineries reflected a further increas expanded their output of motor in the dermand for
and aviation molor
spirits consider spirit, but was also helped by the revival in industrial production.
Consumption
0,243,355 tom. ably from 4,935,418 tor to
Production of gas and clevel oil, too, was raised from 3,805-
tona of motor spirit 481
to 1,303,933 put at 5.730.5 tons, com benefits of Britain 18 pared with 3,440,552 tons in 1932 invested in the new refineries and 5,434,204 to 1951. Last years since motor spiril divided
premier
consumption
petrol
the
of
now reaping the the £ 150 millions
war. Last Fear's of output
25,305,069 tons and compares with only 0,103,790
Into 2,482,632 tons of
grade
in 1838.
3.207.323 tons of standard grade, bona in 1940 and 2,391,722 tons but these proportions hide the d:mand of the private motorist for the premer grades, lace the
gures include the
consumption
deplers
2,197,254 tons of
to study and hold hearings on the proposed three-year exten- sion and additional tariff
that the way
Would bo cleared for early action next year.
of commercial vehicles. advocates, dis-
Petrol supplied pleasant surprise to the liberal heartened by the new situa-
serving private motorista was trade supporters, although they tion, which they regard 03 Vatil some specific news is divided into had been very much aware re tantamount to appeasement of forthcoming from Geneva the premier rad:s and 1,528,200 cently that the Eisenhower Ad-
protectionists, now fear market appears likely to con-ions of the standard grade. ministration
these forces will be not making that
thue is present quiet pattern, The rise in total petrol coas much use of its influence to couraged to press for more and Further Improvement in the sumption clearly resulla (rom the
more concessions, programune
London Register of H.K. Bank mer.asing number of cars on the There is certainly no evidence shares reflected Briness locally read, but industry too that the mise will satisfy
short-term compro with insatisfied buyers offering much more all than in either interest
the special $1,045 at the close,
1931 or 1963. Kroups and
Apart from some demand for BRITISH REFINERIES re-Congressional
Rubber shares representatives, Amalgamated
One of the most encouraging whose ultimate objective is
which were fractionally stronger features is the growing produe klli the trade law Itself.
idle anettion of home reЛned products, Established by Congress
neglected.
Redneries in Britain
produced Business on the Stock Ex- as much as years ago, the reciprocal
23,399,969 tons of pro- change this morning amounted petroleum and empowers the
Stat, to $176,073.60.
petroleum by- up big bopes abroad, ramme would be abandoned
Noon quotations products inst Department to negotiate 30 early other
year, compared with
and the morning's dealings:- and without at least
with 22,490,363 tons in 1952 and test. a night,
ductions
SNARES BUYERS BELLERS SALES
virtually nothing beften the war.
While fuck all was BANKS
again the IK Bank
1843 1885 E3 v 1040 20 1043
As a practical offfter. it was realised that Congress, this year especially, would be most Juctant to give Mr Elsenhower all he wanted anyway.
But it was not expected that. the widely-publicised plun boost world trade which stirred
The
President's
Lo
had
decision means thal the major battle over tarif
their
to the
20
nalluns for
tarif
Its opponents, mostly in the runks of the President's own
market
will be postponed Republican Party, believe that INSURANCES
Singapore Rubber Market
Singapore, June 8. Prices steadied at the opening on trade enquiry but after mid- day cased slightly. Later
In
the afternoon the market again steudied on reserved rellers, Prices:
No. rubber per ib. June 0371-68 July 64-0014 Auu 041-04 Nu. 2 rubber per ib. June
52-63% No. 4 rubber per 1. June 01-(2)
iri
Vnion
use
Underwriters DOCKS, ETC K. Wharf Provident 10) S'hat Dock Wheelock
The
slow-down Current business Retivity and concern over unemployment, gives them A powerful
for weapon against any moves to liberalise trade through tariff adjustment LAND, ETC.
HK Hotel.. and permit foreign nations 10 earn more dollars through sales in the American market.
Ap
STIFF FIGHT Congress is expected to prove the one-year continuation of the trade law which expires on June 12.
SUM
$30 340
6.63
好
1.45
6.80 0.15
B. to 8.10 8.20 200 NJ
3000 8.13 HK Land .. 5425 594
rts..
544 0 30% Humphreys 17.30 17% 1000 1740 UTILITIES
Twin 23 20 2315 500 Star Ferry..
120
C. Light (0) 14.20 14.40
600 14.40
C. Light (N) 1.30 1114 However, the high-tariff bloc Electde
... 20.30 28.LU is rea
ready
Telephone to put up a stiff fight
23 10 INDUSTRIALS for:
Cement
13% 17.00 1.
STORES, ETC.
Dairy
23.10 2 Watson COTTONS Textile Yangtze Yaurati
Corp.
Q
141
Amendments which would No. 4 rubber ver 1. June 1-1 tighten taxift oc quota restric Spot rubber unbaled
03-6334 Banket crope
Gotions on specific imports 03016-0013
like No. 1 pate crepe United Fres
74-15 lead, zinc, oll, farm products
and a wide
range of other NEW YORK MARKET
New York, June 8. Rubber futures today closed 2 to 40 points higher with sales of 134 contacts,
articles.
ever-rule New York Cotton
Tokyo Stock
Market-
Tokyo, Juno .
AircraŇ
Heavy Falls In US Stock Prices
New York, June 8. Two waves of selling to day put the New York Stock Market through its worst break in four years since the day after fighting broke out in Korea.
The selling slashed $3,000,000,- 009 from the market value of all listed stocks. Individual losser ranged to well over 4 points.
The damage amounted to $0.06 the Dow-Jones industrial overage—the sharpest break sides June 29, 1960. Rails were hit even harder, falling $3.56 in their widest drop aloce September 9, 1946. The utilities loss of 80 cents was the widest since June 9, 1953 and the break in the "general market of $2,75 the
biggest since June 20, 1980. Selling was concentrated two waves-one in the second which forced reporting
In
in
There was heavy trading in tour 20.30 the aircraft und general shares tricker to run behind floor with surprising spurt intransactions for as much as four 1901440 prices but trading otherwise minutes; the other late in the 49 14.40 was dull on the Tokyo Stockday when prices dropped oven
Exchange,
lower, Tachi BD
whose Despite the concentrated sell- parties sent out.
aver the counter trading waying in these periods, turnover The slands were
permitted from June 1 showed for the day amounted to 2,540,000 christened T-1, T-Z and
rises T-3,
yen on shares, the
to a record 521 standing for
"PURELY TECHNICAL" "orget."
Friday and 650 yen on Satur-
Wall Street saw the break a In 1952 a weather station was
day. These shares were origin-
"purely technics". Market men established
ally priced at 200 yen. on T-3, the largest of the ice floes,
Shares of Showa Aircraft also found nothing in the domestic & which is 30
yen and 30 yen or foreign news to affect prices. square miles in areu.
gained by 20 At that
virtually continuous niso Alter a The t timme T-3 was in waters north
2. Limitations on the Prest
rospectively.
trading was of Alaska.
dent's
last power to
on with some
xince nervousness.
September, In late 1052 I had drifled to within about 136 miles
higher tariff recommendations
Sowever, in apprehension that reasoned, a decline was in order the boom would be short-lived.
and, many felt it would serve the North Pole.
of the Federal Tariff Comments Since then
In contrast to aircraft, steet to lower prices to a level where It has curved off
sion which can propose upward to the south
and textiles had a bad
week.
new demand might develop to and now it has come no close to
adjustments when it considers
A drastic fall in cotton and push the list to even higher domestle industries are injured a permanent weather
market station
fraders awaited Goneva and Indo-China
or threatened with Injury Alert, Ellesmere Island-only 60
yarn
prices sent levels. deve-
Losses were greatest in issues to hurrying miles away at last report that
competitive imports.
dump lopments.
In hus Rochest temporarily
Dullness featured the spui A ben on the making of irregular pattern of the past few their textiles including woollen which led the recent rise.
Fabrics
the olls, Texas Pacific Land shares
prices and abundoned.
market When it has moved
tariff with spot No.
1 Rss any for enough away from Alert to
quoted at 22% cents a pound, during the extension of the law. tow points on either side of the dropped sharply. Textile shares Trust, Cities Service, Seaboard had been a strong attraction on Gulf Producing. Philips, Stan
Oll lost 4 points or more. Texas be useful again,
Such a dan was imposed by the Air Force
Future closings:
previous close. says, it will be
Congress last year when the put inlo uso
Randall Commission on Foreign || 4
Trading in general shares. Opening to up points, Economic Policy Was reylowing pilots were on 2 to up 3 points, strong and somewhat surprising and Texas Company, tell two the whole trade and tariff seld to New Orleans closed up 1 to 6 because produce the
it
nt
gain. Burkhanov,
A Russian polar scientist, V. writing in tho Moscow newspaper Pravda, these scoffed of the ides that
make
03
Leg Bocs would "rellable floating fortresses," he says some foreign scientists cla
Wall Street commission house buying along with dealer cover-
ing bolstered the terminal
nominal.
July
Dec
Gept.
Mar.
May July
21.00
23.40
24.00
22.00
74.80
23.83
United Press. LONDON MARKET
London, June 8. The rubber market was steady with sellers reserved. Spot No. 1 Rss were quoted at 19% pence
No. 1 spot Ran
10-1912 Settlement house terms:
2015-1014
Taking No. Chances per lb. Prices:
July
"I like the British people," with a view to increasing trade he declared recently, "but exchange and don't like British policy." operation with other countries."
The United States has never anut-shell, Egypt wants claimed they And what he would like to
were foreign friends
useful for see is a change in British possible and
AUK. anything but weather stations Sept. reciprocal policy so far as the Suez with them,
and such usca. The Russians, ct./Dec. however,
Jan/Mar. Canal base is concerned.
appareatly are taking Apr./June So far as the home front is no chances. concerned,
Just the policy
a few days Coneri mariots, clf basią, ports? of the before T-3 was evacuated they
Juna
Egypt's young milltary
means
estates
as Iracte
to
the
30
12-191 1012-194 1955-195 1992-19
1-10
3.
new
Eisenhower's gramme.
Market
worsted
New York, June 8. Cotton futures trading today by showed no conclusive, trend.
Holding to
and traders tho narrow
agreements werks the market see-sawed a
dard of Indiana, Amerada, Mid-
At the close the list ruled off the Tokyo Stock Exchange Continent, Standard Oli (Ń. J.
recommendations points.
original
were:
In
the spotlight ever popular points or more.
Du Pont dropped more than putats, General Electric fell category 1%, Westinghouse
Electric 2 Kamogawa points. General Motors backed and down 1% polata and Chrysler Store point. Steel losses ranged ta
Republic.
it took from the away which were the basis of Mr Trading volumes and opening speculatives,
the
general pro- interests in the Exchange today
Mitsu Lumber, The tariff question has always Month
Engineering Chemical July
Shiroklyn Department been a thorny one in American cober
were the chief attractions→ 2% points politics Bud the issues
are December
United Press. shaper this year because of the March
May approaching election.
JWY
TIES WITH REDS The protectionists argue that any lowering of the tarif would open the way for a flood of cheaply-made foreign goods 18-13/13-10-1/10 which would 18-10/10-18-1/10
force competing 19-13-3/19
domestic business into bank- Estate crepe thin 21-217
widespread ruptcy and creste -United Press.
unemployment. AMSTERDAM RUBBER
July
AUR.
MARKET Amsterdam, June 8. rubber market
Wow
steady. Prices closed today in gullders per kilo, CIF, July as
follows: No. 1 rubbor No. 2 rubber No. 3 rupter No. 1 rubber
Every now and again there is Nasser Government is to main-sent a plane over, apparently Lolk in the Egyptian press of yet another effort being made
tain security and stability, to taking photographs. to settle Angia-Egyptian
Communism and dif- combat
Burkhanov develop and expand the agricul- that
algo fareneca,
ennounced which really
Russians Lhore relating to
tural,
(who claim the Canal
Industrial
oll to have und
ahead on nearly ve been Zone. Egypt still regards the resources of the country.
from the everything,
sawing British troops In the Canal Zone! The big landed
The are machine to the aeroplane) dis- as constituting an "occupying steadily being broken up, foreign covered the three lee flocs long force" and wants this affrunt to capital is being attracted for the before the Americans. her sovereignty removed.
development of new industries:
Apparently the Russians have Since the revolt In July 1952 and plans to search for oil indone good deal of
work rulers both the Western Desert and the in the
Aretle. Burkhanov's a considerable way Sinat have gone
Desert are now being article detailed some theories Lowards removing
dimeulties made on an increasingly large of how ice floes
travel in vast concerning the Canal Zone. The scale.
circular
ellipticnd routes, question of British technicians Economically the country is staying largely within the remaining on the base and its sound, but one of the legacies castern and western hemispheres availability to British Forces in of the "bad old days" to which because
underwater the event of an emergency ap- Colonel Nasser recently referred, Lomonosov mountain range that pear to be the only remaining 18 the top-heavy Civil Service,cute straight across the polar stumbling blocks.
The Prime Minister revealed ares. Thes Generally
theories tally Egypt's foreign that more than half of the Bud fairly well with the observed policy is based on the solidarity get, which is in the region of route of T-3, which appears to of the Arab League countries. £200,000,000 18 for the
Civil travel in an ellipse of the rate She wants friendship with all Service.
[of about two miles per day when | Homburg who wish to be her friends. The When the political parties floating treely; only exception in Israel, with were in power they pinced their
Copenhagen Another Soviet scientist, whom she is still in a state of supporters in Government poste, revealed shop on Arctic shipping Blockholm
sometimes appointing them as route along the northem cobat Zurich Recognise China? hoads of non-existent depart= "of Russia was in regular u30.
NEW ments which were even ben Use of Arcilo sou Lanes has been Even now Egypt la about to over-stamod. tako 'n final decision on whether
WD.
made
of tho
The Nodser. Choverunt Cronin OE
(which had.
or pot to, recognise Communist { endeavouring to streamline the of nové ve xfudori
China. This," it is officially Civil Service, but that is a tax emblod brated,
is another link in the which will take some tino to prediction,
chain of research done by Egypt l'accomp
China Mail Special, route, seci
ogistá. antong the
Many
October Total
Spot
July
Dec.
Mar
Way
Oct.
Volume
Open interest
10,400
514,500
0400
243300
0,100
344,300
alcon
2291,500
0.600
160,400
3,700
94,000
400
45,400
Out of 1.242 issues traded, only 127 were higher, 180 un
100400 holes New York Sugar changed while 925 were lower.
United Pre NEW YORK PRICES
Mar/Apr
New York, June 8.
Closing. Prices
33.30
21.75
34.7 34,17
Market
New York, June 8. World No. 4 sugar futures closed today unchanged to 3. points lower with sales of 313
NII 1436-37 contracts.
34,28
September
€31,60 October
January
31.27
March
31.15
May
Italy
July Congressmen, campaign-
Domestic No, 6 sugar futures ing
for re-election,
39.04 63 closed unchanged to 3 points cannot
United Preza. afford to ignore the Impact of
lower with sales of 187 contracts. LIVERPOOL MARKET this arugment on the voters,
Liverpool, June 8.
Domestic fultures were, quiet'in Cotton futures, In pence por line with the raw market. and for that reason would be
Futuro closing reluctant to support the Elsen-tb., and based on American
Contract 10 € (world) 2,85 buyers hower programme.
middling cotton. 15/16 inch,
July 184 buyen The Administration's case I closed as follows:- 1.83 buyers that
an expanded two-way Oct/Nov. 3.00 buyers RRE United Press.
trade is essential in the nation's Dec/Jan. security and economie interests stay/June the and that unless
United Market: The market tone
friendly trading nations would spot cotton, as announced today, be forced into closer economic are
all unchanged. United fles with the Communist - world. | Press,
The results of the November elections would have an fm--LONDON METAL portant bearing on the fate of the original Eisenhower trade programme in the next Con
London Foreign Exchange
New York Mantreal... Amsterdams Blocked Mar
London, June 8.
130 11/16-2.33 13/14
10.0 131/0 13/18
States opens its markets, was steady, Official prices for
PRICES
Landon, Juna & The tin market. Wan Very aditionally the Republicans, et Spot rome: a paints who now control Congress, ardui, and thres-sopuch regarded ag .\the "high=Læriff'
party. The Opposition Demo erats generally support
Spot-cents.
Cube) Open. Intery: 4,35% Contract No. 8.
July
September November
Негов
deptember
November
1b. Lob.
Spobre cents per ib, olt
x-duty)
to į United Premi to
"Turnover was. 20/) topá more which lá, tons seero for cash,
Exchange Rates
liberal, trade and, if they cap- Cats, prion, in sterling DAY. UNATTAA za watokary ture Congre In November. Jon ton we
chances
[dri 186
faycutable
ada would
mproved, a-month
Reuter.
troming (16) Uady dollerI
The New York Stock Ex- change volume was $4,360,000.
The American Stock Exchange volume was 580,000 shares, a United Press.
on
DOW JONES CLOSING AVERAGES New York, June 8.
closing averages were as fol-
Dow Jones
Wall Street
lows:~~~
30 suntrain 30 rails
57,0 11070
120.00
18 utilities
64 stocks
40 bondar
Comm. Kuture pries
index
·United Press.
CHICAGO CRAIN
PRICES
Chicago, June - 2. Prices per bushel in cente:
Cloring What, No. 1, red Sppl
No, B, yellow
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