1955-01-12 — Page 9

THE CHINA MAIL, WEDNESDAY, JANUARY 12, 1955.

New Type Of Housing For Soldiers On Arctic Duty

constructed toe-cap huls have been developed by the United States Army These newly

Its the form of forces as a new kind of housing for soldiers on Arelle Duty, They are Nissen shelters which gradually sink lower and lower into the soft snow of the northern hutments is made wasteland, at the rate of several feet a year. Entry into the now

Each has sleeping quarter, mess hail and recreation room through expandable hatches.

flext that These are the and maintains 72 degrees warmth in a temperature of 75 below.

have been built for continuous use on the lercap-Express Photo,

Finland's Policy Approved

By The Russians

The Finns' policy of "trade with the East and think with the West" has won new approval from the Soviet Government.

Mr Anstasi Mikojan, the Soviet Minister of Trade, who has been visiting Finland, made it clear repeatedly in public speeches that he is well pleased with Finnish-Soviet trade relations. The Finns had invited him to inspect shipyards and factories working on Soviet orders and this is all he did, authorita- tive sources say.

He rase no cisims, made no complaints, but things prase. Mr. Urho Kek- kouen, the Prime Minister, and other

pittelane 158

In thel" specchis of weldin

Mikoyan bowe 1 Mr.

thes

were with the has now Soviet Union, which

Finland's

ousled Brilon

a

principal trading partner

Yet The Finns were able, at

the prices are boy high, The Poland, Hungary or sume ther Soviet Government in willing to East European state will be the it meeds the third party, pay them beckuve gods for its own coumany and cannot obtain then in sufletent quantilles elsewhere.

'Th Soviet Unran, when rottling with Finland will pay har in freely convertible foreign These new Finnish mdailries, | currency to the value of 2,300 malady

watch million marks (about shipbuikling

£3,500,- engineerin were built w

000) a year. 10 zenj

Russia the Survet

Political relations between the 300,000,000 dollars

have net been £100,000,000), worth

as clearly its their There are signs, how- ever, that as there is no increase the Greal between

will Finns continue their frce political life on the Sovlet Union's doorstep.

(about <if re-

Two unir.c9 charten:d Lrade

the same Une, to reject Russia's ¦ perations good, which the Finns Invitation

Bureprax underlook" to supply under the Scully enterene They "Toki¦ pertwur mettlement.

at

her that they would only me

in if the rest of the

world came.

Western

Mi Mikojan showed no dir-

pleasure, even disapproval,

uvor this coun

When the last truckload of

Nor did his

to persuade the Fins to attend the reduced conterence of Com- munist states, which hold In Mazcow.

was later

in tension

Powers,

Whe

allowed to

be

They have had five different Goverment make any attemp; pats had rolled over the Governments in the past three fraulier, thes Finns found that years, all of them right wing

had they

factories and yards

and all able to maintain Aared to turn out woodworking cordial relations with Moscow. machinery, electrical equipment, Finnish politicians,

who, im- Bea-going

tugs.

trawlers, mediately after the war, were Nor. again, was Mr Mikojan merchent ships and ice-breakers.

branded as "warmongers" and shocked when the Firms stressed

Unless markets could be found "arcisis" m the Soviet press, the

the for three difference between

products, The men are now wined and dined in Soviet regime

making them would be thrown Moscow.-China Mail Special. und their own Institutions. As cul of work and form

stated, Flatland army of malcontents in a country and the Soviet Union are a good skiving to riccver from two example father nations striv- ruinous wars in five years.

free Werlern

Mr Kukkonen

dog to reach agreement despite differences in their way of life and military strength,

1

Many foreign visitors to Fin-

a le

agrtement

A new long term provides for Finnish-Soviet trade up to 1000. Under it, Finland's exports to the Soviet Union will ba raised from 34,100 milkm marks (about £60,000,000) in 1058 to 37,800 milion marks (about £55,000,000) in 1900.

imports 1

Chicago Grain Prices

Chicago, Jan. 11. Price per bushel in cents:

Closing prices

Wheat, No. 2, red Spat land have expressed fears that

the for. 250AFT) "2200LTES" Soviet trade penetration Into Soviet Union were raised from July May Finland will be followed by 24,200. million marks (about Bepit, political penetration. The Finds, £35,000,000) In 1938 to about Nov.

their Western 28,600 very Jealous of

million marks (about Corn, No. 2, yellow civilsation, refute these sugges- £40,000,000) in 1900, ilona.

These increaseS are moderate May einée Finland's exports to the e

Sept Lotalled 24,030 Nov. and - hég'imports |

Ryo

As Mr Gunner Palmroth, chief

Spot

Mar.

of the Commarglal Division of Soviet Union the Foreign Ministry, recently million marks doclared in the Bank of Finland's from her 19,009 million marks monthly bulletin, Finland's foreign trade Inclines naturally alone in the first nine months Mar towards tipo East because of her of this year, the latest period for Oata

which figures are available. :) geographical position.

Nor will thero bo

In Turbst days 30 to 40 per cant of Finland's total foreign trade was with Soviet Rusila. Yet she had sufficient political autonomy and, independence to offer asylum to

carly. Bolshevike Bering from · iha “ime” perial secret police.

Mor.

May

2003,-230 2001- 21112,212 2137

change in the composition of the Spot

much Soybeans, No. 2, yallowi

deliveries.

Jan"

Mar. May

July

Sept.

Nov. Barley,

300 lb. sak

Spot Finlased, will send, Rusela ships, | New York flour. only 25 per cent of, metal, goods,” engineering pro- Todty

with the|| ducts and slectrical equipment, Finland's trade 11 Soviet Union, Britain, with about siti receive from her grain 23 per cent, comes a close second | ligjald, and solid fuel, metal, and and hard after her come West rolling mill; products and other

Germany, the United States, the

* Netherlands and Früher.

Moreover the Finds say, the

TRADE and COMMERCE SECTION

BRITISH COTTON INDUSTRY

Growing Demand For

-

Imported Article

London, Jan. 11.

A

The British cotton industry is being squeezed between poor demand for cloth for the export trade, on the one hand, and the considerable and growing volume of imported cloth, on the other, says the Cotton Board.

There has been a slight increase in production, however, as a result of fairly strong demand in the home market.

H.K. BANK

DIVIDEND

Exxr's of cotton piece goods fell from 160 million square yards in the second quarter of last year to 152 million in the

This third quarter.

fall took the maintenance despite

place

with

when 73 million square yards were brought in. The rate of Import In October

twen พดง higher at 32 million square yards.

Most of these imports, Bald

of a high level of trade Australia and New Zealand and the Cotton Board, were of grey the stabilisation of shipments cloth. and the big increase

to British West Africa

low

UNCHANGED comparatively

dz the

during the third quarter

WOB

from

to large shipments to due level which they had dropped in the Japan as a result of the Anglo- second quarter.

Japanese payments agreement.

a

Exports to South Africa and British East Africa suffered

IMPORTS EX-HONGKONG

the set-back. And among

Imports from Indiu again in "large

and markets Creased,

imports from

The kanic

Directora of the Hong Banking Shanghat and

the Corporation apoouser that profit for

ending the

year

number" of

December 31, 1954, after provid-Southern

taklag less British cloth, Hongkong also became an im2

Ing for taxation elc amounts West

to $10.290.481.

10

1

It proposed

Bank

and and Burma

write $0,000,000 off

Premises and to pay Final minent

A

Rhodesia, French portant factor.

Equatorial Africa

Almost

the all

Japanese were also pro-

cloth is destined for re-export after processing. but • largo proporlan of the Indian and Hongkong cloth is known to be passing into the home market, which enters duty-free prices well below that of Lon- cashire cloth.

Dividend of £3 per share free ONLY BRIGHT SPOTS of Hongkong Cerioration Prolls Thx leaving n

balance to be carried forward of $10,215,250. These Agures

are subject to nudit An amount of $32,000,000 (£2,000,000) has been transfer- red from Inner Reserves lo the published Reserve Fund.

Almost the only bright spots were the increased shipments to the Belgian Congo and the West Indies,

to

the

Exports in October, st 10 million square yards, were at an even lower rate than in the third quarter.

it

Steel Output Rises

London, Jan. 11.

The United Kingdom stoet odiput in 1964 totalled 18,520,000 tons, accofding to figures issued by the Iron and Steel Board. This com- pares with 17,009,000 tons in 1953, The Board задя that in 1958 capacity will

be available for production to rise to 19,500,000 tona- Reuter,

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Business done on the Hong- kong Sluck Exchange This morning amounted to $1,187,- 175.30. Non quotations and the the morning's transactions; SHARES BUYERS SELLERS SÅLES BANKS

2170 3100 10 2170 13 t 2173

HK Bank

at

East Asia... INSURANCES

Union

212

920

Lombard...

40

Underwriters

10

DOCKS, ETC. K. Wherl

in

been having Japan has also dimcuity in the cotton export trade, according to the Con Board. Shipments of CL an The "spectacular" Increase in plece goods in the third quar- imports of cotton piece goodster, at 290 million square yards, in the third quarter, were slightly smaller

the two preceding quarters. In October, however, the rate of export increased again to 122 million square yards,

World Cotton

Subject to the consent of His Excellency The Governor of Hongkong to the relative in-continued crease in capital (as required by the Bank's Ordinance) it is

to recommend propused Shareholders at an Extraordin ary General Meeting to be held immediately following Annual General Meeting March 11. 1936, that a issue be made in the proportion of one share every four shares heid by the -copialientiem $5,000,000 of the Reserve Fund. Such new shares will rank for dividend from January 1, 1958.

DISAPPOINTMENT

נבנו

bonus

of

Markets

than

both

Indonesia and Pakistan took considerably less Japonese cloth, and shipments to a num ber of other countries including Hongkong, were also reduced.

LARGE DELIVERIES

..

240

10 of 2100

132185

30 si 2200

10

2190

3 à 2193

10 ur 2185

42190 20 21013 10 a 2100

NEW YORK

STOCK

MARKET

New York, Jan. 11. Stocks, moved irregularly In a less active session to- day with special issues up 3 points or more in a few instances while recent favourites gave ground under realising.

Rail shares-particularly_tho much-favoured New York, Cen- tral-steels, and aircrafts felb the

weight of profit-taking. some metal stocks, mercantiles, cernents

and utilities featured on the upside.

Industrials 4.3

A

averaged 64 cents lower,

an

group rails

$1.25 lower. Only utilities managed

Averago grain, climbing 10 cents, as Peoples Gas gained a point.

Today's Irregularity came fter two sessions of wide ad- vance had

wiped Just about out effects of the three-day selling spree last week,

SELECTIVE' DEMAND

Market commentators pointed to the selectivo demand and the lack of basic market strength.

Sales for the day totallert 3.- 480,000 shares,

Featuring the market were a number of individual good, gainers-Montgomery Ward, up 3% points at 384: American 50 912 Metal, 5 higher at $57.

10020

1300

50 21

7.30

Dock .....

201 Provident (0) 1515 25.00 Wheelock 7.30 733 1000 LAND, ETC.

HX Hotel... 19.40 1855 3500 a 18.40

LOGO ON 10% HK Land... 70 7014 520 i 70

6007015 Humphraye

23.30 Really

2.15 2.17% 2000 JE 2.4715 UTILITIES

Tram

21.00

500 or 21.90

22 1100 g 2%

Star Ferry.

152

1400 22

330 4 154

Ymanati

Ferry.....

100183

171 173 300 <- 179 C Light (0) 1815 1000 1915

170 gta40 e. Light (N) 15.20 15.40 1000 19.40 800 6 15 30

Now York, Jan. 11. Colton prices continued on a slow slide today with losses Exports to Britain, Brilish running up to around $1 a bale. West Africa, Singapore, Burma, Liquidation in the nearby and Ceylon, on the other hand March delivery, plus hedge sell- were higher, and shipments 10

Electric 301% 39% 2450 2 3915 ing following larger spot market Australia also Improved on

Macao Elec, 1255 sales, and a pause in demand thair already high level. There

Telephone 30%

218 0 35 United Preis cable from from textile mills and exporters,

600353 were very large" deliveries to London that the Bank caused kept prices on the defensive.

INDUSTRIALS the United States and Holland. disappointment on the Stock

Cement. 4136 42 5000 mg 41K Day traders covering aided a According to the Cotton

5004135 Exchange by announcing their last-minute

recovery although Board, world trade in colton

STORES, ETC. dividend unchanged.

the list was still off 2 to 10 plece goods was about 15 per Dairy X Rs. 24.20 24.40 1000 21.30 points net at the Anal gong. cent greater in the

mis. first nine

15.40 15.00 775 Opening prices, wore off 2 to 4 months of the year than in the

200 Watron, 10.50 points. New Orleans closed off same period of 1953, But the

27 300 21.00 Crawford 5 to 10 points.

COTTONS volume of trade has been full- gradual increase in the ing since the

0.40 DS 600 N DAS "post-recension" stock of certificated cotton peak was reached in the first MISCELLANEOUS

Yangtereng

2000 € 6.10 In the third available for contract delivery, quarter of 1954.

with atogg

uncertainty over quarter It was no more than outcome of agitation for an in-about 90 per cent of that level.

·

The shares fell £2 to £100 10s, Itumours of a handsome dividend

Ilfied recently shares to £113.

the

World Rubber

Markets

New York, Jan. 11. Rubber futures today closed 70 to 100 points higher sales of 133 contracts.

crease

next year's acreage allotments, and the easier trend to grains, helped to shape mur- ket sentiment.

Trading volumes and interests in the Exchange day were:

Singapore

Stock Market

Singapore, Jan. 12. Brokers toray quoted the fal- lowing stock prices:

Jait. 11 Jan, 12 Closing Opening

opeil

to

Months Voluma

Open Interest

with May

Mar.

30,000

10.000

3100

1,160,209

July

34,700

€33,200

Oct

12,000

100,900

Firmness of the primary Mar markets and covering by, yes- May terday's sellers, plus an. Invest- Toist ment demand, caused the ro 'bound.

Deo.

34,000

104,400

75,000

85,000

3,000

60.000

123,200

2,963,200 bales

NEW YORK

Prices of futures closed today as follows:

Spot

Tin Ordinary

Fraser and Neave Ltd.,

British Borneo Petro

leum Syndicate 3V/AI Consolidated Smelter, Insta

34/2

35.06

23/64

$2,00 $2.00

20/03

March

34.50-88

Fraser and Neave Lid.,

May July

October December March May

34.00-83

$4.60

Hongkong Shanghai

Bank

$1,035

Dealers reported a fair-sized

done business

in the

spot market. Reported sales included sheet one shipments for. April at 32 cents;, also ones for March at 324 cents; April But bark 27% centé and four sheets for April at 31% pents a pound, delivered basis.

Spot No. 1 Rss were quoted at 324 cents, nominal. Future closings:

MAF.

May

July

Bepit.

Det.

Mar.

AMSTERDAM

33,00

The markoj was very steady. Prices closed today in gulidera per kilogram, CIP Jan, as 10k lows:

No. 1 rubber No. rubber No, rubber

crepe

27834-27934 | No,

raw material and requirites Exchange Rates

zew her own produnting.

man no now will be fixed.

Soviet Union is buying from, in roubles on the basis of work

them most of the cutout of thale mecies, prioos. * The dim,

now - dostwane Lalay

they would obviously!

to wall to other countries

Importanwill" be covered?

30.06

34.02

34.50

35.100

NEW ORLEANS-

·· Ordinary iskus

71% ctum. pref... $8.00

Corporation

(Colonial Register) $1.045 Molayer Breweries .. $4.05 $1.05 Rates Hotel

*... $2,75

Bingapore Cold Storage $1.92. South British

| Straits Trading .............

Prices of futures closed today Straits Stormship

as follows:

Spot

Mech

May

July

October ~December

Berch

May

SIZESARS

285858AA

LIVERPOOL

American

Catton closings, middling. 18/10 Inch, In penco per lb, were as follows:

Mar/Apr. May/June

2.73 bujare 9.19 buyers July/Au 2.89 buyer], QcL/Na¥.

LONDON

The-marices was stendler: with: spot quoted at 28 7/10 pinca gèr 16,2 Prices:

Bettlement, hou

United Engineers,

Ordinary 'issuo

Waarne-Brethorn Han kong Tin

$20.28

$1.02

$24.00

$17.00 €17.00

919.20 $313.20 $2.50 $2,90 8/5

Fataling. Tin with div, $3,50 $3.50

China Mail Special.

New York Sugar Market

Now York, Jan, 11,

World No 4 sugar futures closed today unchanged with

sales of 104.contracts.

Domestic No 6. Auger futures

Allied

0

Cement stocks ran up sharply recommendations for tho big now Federal road building programme.

rose Penn-Dixie 2% to 984. Lehigh Portland 1% to $38%. with the latter helped also by the statement of its President thas the cement

Industry "Is bullish on the expansion

futuro and in an mood."

New York Central a strong,

for the active feature

.past week, paced the losers with a. decline of 14 to $35%

on

profit-taking following declara- ton of a 50-cent dividend.

Of the 1.271 issues traded, 066 were tower, 492 higher,

The New York Stock Ex- change bond volume was $5,- 039.000.

The American Stock Ex change volume was: 1,370,000 shares..

DOW-JONES AVERAGES

Dow Jones closing averages on 10.50 Wall Street today were as fol-

lows:

Industrials

30 15.40

17

.....4.8735 4.05 2000 @ 1.65

4000 4.571%

1500 40 4.00

20 rails

is utilities

,05 klocka

40 bonds b

Comin.. Euture price index

170.50

-United Press.

New York Foreign London Foreign

Exchange

New York, Jan, ple buyers close 1.03 9/10

Canadion dollar rule:

Spot:

Future:

high 1.93 9/16

Tow 103

30-Lay 1.03%, 90-day -1.03 13/32

6-month. 1.00 11/37

relors

Exchange

New Yorit

Montreal Amsterdam 1.03 10/37 Brune's 1.03 10/21 Copenhagen 1,009/10 Oslo

1.83 10/22

1.53 13/12

1.03 13/3

-United Press.

Paris Stockhom West Marks

Zurich

Record-Breaking

Dividend Year

In America

By S. Richard Brown

United, Press, Financial1Welter ·

New York, Jan. 11.

A record-breaking total of $10,100,000 cash dividends was disbursed by American: cor- all-time Porations in 1954, establishing a new peak.

This total compared with, equipment, and textile":"Lodri-

Official values for spot cotions closed unchanged to one point 9,530,000,000 the previous re- panics in, cash payments for the were all unchangod.

lower with sales of 10 contracts.ord, in 1953, and with $5,822, year.

000,000 In Historie 1929.50 Light trade. covering opera

LARGEST DISBURSE Of tho 1.570 Issues listed on form holstered the world con- tract. Domellia future were the New York Stock Exchanges

(The; follow! dividends were paid on a ziola, ready on mixed trade. Future of 1,884, involving: 941 common,

· SAO PAULO

Calton future | sloki ériškeiros per kilo were

Contract No. 4 (world)

and

Aircraft,

stocks listed profefred

utally, chemical, electrical equipment, machinery) and metals, paper, priroleum

natural.

rubber and steal

pryment