1955-02-24 — Page 9

RUSSIAN

ATTENTIONS

TOWARDS SPAIN

Police Watching Red Activities

Madrid, Feb. 23. The Spanish police aro watching vigilantly for any attempts by Soviet Russia again to develop clandes- tinc Communist activity here.

THE CHINA MAIE, THURSDAY, FEBRUARY 24, 1955.

TRADE and COMMERCE SECTION

Page

GATT WILL BE ATTACKED BRITAIN'S NEWEST

NEW YORK STOCK

MARKET

Following the arrest af Valen- ela rome weeks ago of 50 alleged Communista, who were said to have #tered into key industrial and defener plants Fod the rail-stock

ways and even

r^.

scitatife intu circles engaged in nuclear Rearch, the Spanish police have i her on the ofert

The Sonnish au borities

had turk

1 en expecting Russia to her of ion to Spain again fol- lowing the signature of the 1953 def pee and all agreements, ins suct renewed Communist meti- vity and been looked for rather In Madrid, Srellte, Cadiz, Sara- gosen, the places where United States defence plans are centred. Thurt in Valenti

וז

the

Appar le

police were impressed by the way in which

small group

Spaniards, some of whose members are said to have come from abroad, had key managed to pri trate inter sections of induiry and defence

the ami cenearth in

of ure: Valenclu

LITTLE ACTIVITY

Spanish

that Russia

sonsiderable

Communist "machine," in-

Fources

recall

sponsored

clandestine

forces, in 1944 until

H

been

cluding guerilla

Spain

from

1948, but since that Ame

has

there

nelivity.

Nevertheless,

here state

ilitie

commentators numerous

that the

the

New York, Feb. 23. Ruitrond shares, on

exchange pushed to further new high ground in almost 25 years today.

The

Cinins in the canders ranged.

than 2 points. more pushed the railroad average to its best level since April 25, 1930

up

Instalad states Cakeel Join an the rise. As measured: by the averages, they were only

Trw 11

cents. Aircrafts tuned strong on good earnings Uulites were begibetød,

Volume picked up slightly on

Sales the rise.

today tutalled 5,030,000 shares, compared with 8,010,000 shaxs on Mynday

Railroad haros generated strength when Southern Railway

Its January

#41 reported that meone was sharply above year ago. Other carriers also pre expected to show good results.

The market here was also bolstered by a shurp recovery the London exchange. Favourable earnings business forcearts wire another factor

PENNSYLVANIA LEAD

Pennsylvanda allroad lest the market in volume

with 108,700 shores changing hands. It ekord with

of a poin a n gain $27 Curtiss-Wright was in the 27,500 shares. The stock Jumped 1 points lo Increase SAA _

dividen

accond apot on

Spanish-language broadcasts and higher canings.

directed each

slay by

Soviet

>

A number of high-priced Russian transmitters to Spain shares displayed u considerable reveal, by the information givers amount of Brength. Houston Ull¦

WILA the bright spot here, registered a gain of 81 points to

news and in talks, that Moscow is extremely well in-

Spain.

It

Protectionist Senators

Against Ike's Foreign Trade Programme

Protectionist-minded

Washington, Feb. 23. Senators will make the General Agreement on Tariffs and Trade (GATT) a major theme in their attack against President Eisenhower's foreign trade programme, informed sources said today.

"Protectionists" will also continue their fight for an amendment to restrict imports of petroleum and fuel oil.

Thirdly, they will propose changes in the House bill which would have the practical effect of strengthening the United States Tariff Com- mission's role in tariff-making and abridgement of State Department powers in these matters.

TEACH THEM YOUNG

New York, Feb. 23. Singer Manufacturing Co. Leday Introduced a " xqual- b powered toy Newing machine

which it said in desigurd is teach youngsters basic sewing-United Press.

World Rubber

Markets

Singapore, Feb. 23. The rubber market improved

in-mciprocity

Another feature of the pending battle will be attempts to strengthen provisions of the bill to restrict farm imports when faron price support pro- granines are menɑcod.

which: agtterents ་་ས་ United States bar been negotiating since 1934.

UNITED STATES ACT

Malaya Loses $10m In Rubber

EXPORT IS-ASH

TO BE USED AS BUILDING MATERIAL

London, Feb. 28. Ash the residue of coal burned in power stations and normally dumped at sen or used to fill up old coal mines and level land — has become Britain's newest and strangest export, the past four

Kuala Lumpur, Feb. 23.

Malaya loss moto than M$10,000,000 in rubber deals over

days, a Malayan rubber spokesman satd today.

41

The people to blame," the spokesman said, "aro speculators

In Singapore

who upset the market and eansed the price of rubber

tumble

to

mako The

to

The Best shipment of 1,430 be making big money for tho tons is being sent from Lättle- taxpayer-all because building brook,

Dartford, power station experts fell back on en old iden. w Aden where it will partially

VOLCANIO ASU replace cement in the construe» They remembered that before

on of a new harbour,

the days of cement volennio nah The British Electricity was used for building material. ruish the mad

Authority are

Colosseum In Rome was burily searching | The for many by playing

Its ald, and power- uvernens mar-bult with thoney

ks for the ash-2.000.000 tuns market the speculators

house ish is the closest thing overlooked the interests of

of which Edlunped from all in it. maller dealers who could

power stations enel year,

Arendy it is being used on n nol

And fast enough

whad recover

see jurt a large scale In America, and it is from rapid changes in the

nuisance to get rid of wil san jbeing experimented with in this rubber market.”

-county. A factory la being Kubirer

bilt in prices

Glasgow to process it falling sharply JAK1

into building material.

began

week.

Merchants In Singapore

were selling,

It was said, to smash an attempt Penang millionaire rubber tycoon Mr Reah Joo Sians. who had earlier made a soothing sitnek OM Rome Singapore Chinese st

political meeting.

The price of rabber an the Singapore market rose lightly this morning, how- ever.-United Press,

World Cotton

Markets

&

New York, Feb. 28. Cotton futures today gave | ground gradually after higher opening.

Initial gains up to 30 cents a whittled were gradually down nud converted into small met losBES,

New crop deliverica showed relative casinose on the setback, with the list

closing up 5 on March and 2 to 9 points lower on the later positions

Opening prices were unchanged to up 6 points. New Orleans closed up 3 to of 0 points.

In the United States Trode Agreements Extension Act of The bill passed by the House

103), section 10 provided: "The does not change the status of United

States participation in nctment of this Aet shall not h

to determine or ATT but erities of the Pre be construed the di te

or dis- approval sidential

POZIOMUe wij al-

ad-approval by the Congress prospective lege that the Dinastia.iom programine would use executive agreement known General Agreement on Dive GATT a tariff-making as the authority

which use constitu- Trade and Tariff."

Although operative for prac-| fional prerogatives of the United

|tical purposes, GATT is regard- į States Congresa,

eri by the "protectklats" in WITHIN FRAMEWORK

the Senate Ra stili merely a provisional method whereby the Charges will be made also

Uned States representanteral tarift concessions.

United States negotiates multi- bake Bves in GATT considered arift

Attacks an th: constitution- within the GATT VOT JAMIOT Framework

awaiting ality of United States partielpa- without wat submission to tan in GATT would, therefore, nego iation

for the Congress of

a loglou revised organisa-

Sonate tional procedures for GÅTT.

In a tempting to delay or frustrate President Eisenhower in his

programme. foreign economic policy mes- The "protectionists" would at age to Congress on January least try to obtain promises that 10, 1955, said, "When the cur- CATT negotiations would not

ch, rogotkitions on the revision of the onganisational provisions of the General Agreement aro smtfuelcrily completed "ho results will be submitted to the Congress for its approval" Despite the prospect of a

From the Congressional stand-many-angled fight against Presl

dent Eisenhower's programme, point, the United

States status the best informed sources belleve in GATT has boen vague and, that he will ultimetely obtain controversial

1947. since

In

glidation in substantially the that year the United States desired form. Reasons for this

be

"prote

formed as to what goes on $110. Super.or 011 California, a wide moving stock, ran up 25 poln to $885.

the President's on better London advices today. Metal shures ran 17210 some Trade covering against accep- mild profit-taking.

a more optimistic crossing the frontlers Motor shares cased. Chemicals tone in market, and there was also some short covering and speculative buying.

They ndki that, with an of nearly 2,000,000

average Lourlate

of Spain each year now, it candid little.

no problem at all for Of the 1,201 issues traded.

Mo900w to move agents in und <11 of Spain.

$32 closed higher, 490 finished lower and 230 held unchanged.

The New York Stock Ex- volume Wils bond change

The spoed with which the student riots over Gibraltar in $4,282,000. 1954 changed from pro-Govern- American Stuck Exchange ment demonstrations to anti-volume was 1,260,000 shares. Government protests led some Dow-Jones Losing observers to suspect Communist on Wall Street today were as leadership.

But

12 right-wing groups forng the students were also interested in turning the de monstrations

against the Gov-

ernmeal. It was never exactly clear from which direction the organising influence In those came. China

riots

Special

Mall

Ships in the news

A

Gift For

The 61-Book

Captain

Before the Caronia, Bri- tain's top luxury cruising liner, sailed for her "Ameri- can season," her Master, Captain J. W. Caunce, re ceived a presentation.

For 95 years, Captain Counce a voluntary weather

has been

observer. He has completed 61 meteorological books,

Commander M. Cresswell weat

follows.

30 Industrinia

20 rails

15

hillies

stocks 40 bonds

412.48 40.58

€380

183.30

132.GE

tances

wan

Future closings were:

No rubber per ib MAT BU-DG)

Apr. May

No 2 ter per ib. Mai No 3 No 4

DATA-DE unquoted $13-05 04-6435 933-

Soot ber unbaled

0515-00

Blanket erepo

374-4

No

1 pale erepe

NEW YORK

Futures today

98914-100

New York, Feb. 23.

closed 110 to 130 points higher with sales of 233 contracts.

Erratic fluctuations

Comun. future price index YESTERDAY'S

PRICES Closing Prices Feb.

tho

70

Alden Inc. Acy Allied Chempionis At Chalmers American Airline American Metal American Smatting American Tel & Tel American Tobacco Anarında Copper Armco Steel Amour

Balwin-Lime-Hamilton Baltimore & Ohio

Bendix Aviation Corp.

Benguet Сола

Bethlohern Stoel

Boeing Airplane

Canadian Pacific Railway

Qua tạ. Ll Co.

Charo National Bank

Chile Copper Chrysler Motors Commercial Credi

Commonwealth Elec. Consolidated Ediron Continental Steel Crime Co. Cuban American Sugar Curtis Weight Dupont de Nemours Eastman Kodak General Electric

Corn Products

General Foods

General Motors

4

181%

marked

and

close

both the terminal market

reactionary London

but steadied ngain at the close on dealer buying.

In the spot market, sales of

700 around

to 800 tom

sales in- developed. Reported cluded one sheets at 33 cents down to 32 cents and later back to 33% with sellers over of the last price,

Three

tween

sheets were done be- cenia 32% and 32% four sheets at 34% to 82 cents, all May delivery, land-

ex busis. Spot No. 1 Rs were quoted nominally

a pound, Futures:

194

Mar.

May

BOL

July

in

Sept.

18%

Dec

Mar.

17:31

332

a conference countries at the

Liquidation in the March de precludo the poability of livery following the issuance future quota restrictions on im-] of delivery notices for 3,000 ports,

DESIRED FORM

opinion optimistic follows.

a

exort

bales, found textile rilis, ex- pervers and other tracte buyers moro reserved.

Weakness in grains and other outside commedity markets was emphasised by

the a drop in futures index to a new jow since early December, 1953 and acted to chill new buying interest.

Experts thought the March situation will continue to ari over-all markes influence If hard pressed on the eco-

eco- until the open position is cut Net open nomic aspects of the trade pro- down a little more,

President the

and March contracts at the start of Secretary of State cha always trading today totalled 116,500 bring very great influence to bales, a reduction of almost bear on the Sonate by stronger 90,000 bales during Monday's representations on behalf of the active session.

of the trade Importance

pro- Trading volumes and open interests In the Exchange tudny grammo to United States. Inter.

world were: national security and

Month

participated Int with 22 other

which attopied Geneva General Agreement

This inaugurated a period to gramme the earlier series of bilateral{Qu

HONGKONG

STOCK EXCHANGE

Stock

(From Our Correspondant)

Busincs done on the Hong kong

this Exchange morning

amounted to $444,702.20. Noon quotations and the morning's transactions: SHANES BUYERS SELLERS SALES

cenia

23.40

22.45

31.80

BANKS

HIC Bank

LONDON

The rubber market was firm. Prices closed today in pence per

Ib. as follows:

HK Bank

..... 1800

Cum All East Asla

INSURANCES

bo

It

May

Volume

117,400 81,000

Open Interest

137,500

1,179,900

46.000

114,200

20,400

259,400

11,500

150,700

7,500

6,700

104,300

3,000

200.309

2,754,000

NEW YORK

Prices of futures closed today

that as follows: would Spot

Mar

Secondly, the bill as

passed March the House was satisfactory to May the Prediam. If the Senate July

October the adopta amendments then.

December different Senate and House bills March. would go to a conference com

Now) July mition representing both chan Tolai (bales) bera to reconcile the differences. In this committee some adjust- ments

migenato alone

made action ut not necessarily be

final. for example, the Senate July should adopt an

all Amendment, it would later go to Dec. Tho conferees Маф would be aware that the Juty President has already announced himself as opposed to quota imitation of all imports by as follows. legislation,

conference.

restricth Oct.

Mar.

3143

34.70

34.94

38.00

mor

was

New York Sugar Market

New York, Feb. 23. World No, 4 sugar futures closed today unchanged to 2 points Bigher with sales of 83 contracts.

Domestie No. 6 sugar futures closed unchanged to 2 points (lower with trade for the world contract. Befner selling and tiquidation

weighed on the domestic contract. Futures. Contract No. 4 (world)

Mar

It substitute for coment midt.

half the in many 1", price. A BEA spokesann says: "We are hoping that fattories the nsh will be set 16 process up alongside the power stations.”

(London Express Service)

Singapore

Stock Market

Singapore, Fob. 24. Brokers Today quoted to [following stock pricest

J 170

Mims

4.18

Juiv

1)

Sept

Spol--Teents per tu fota

1)

317

Feb. 24

Contract No. 8

Opening

May

3.46b

Brush Borneo Petroleum

July

6.601

Syndicate

31780

Must.

3 Uzb

Consolidated

Tin mellets,

Now

Ordinary

30/91

Mor

4.376

Frakor

And Neave Lid..

Ordinary" Imun

$1.05

May

Spot-icente per il, cli

NY ex-duty)

3.4.20

5.40 -Vatted Press.

Fraser and Nerve Lld..

15% cum, pret

$6.00

tingkong & Shanghai Bank

Corporati

Register)

Milnynn Breweries

94.001

$1.07

'+

Haffen Hotel

Exchange Rates Store Cold Sternan

Briting Insurance Strait Tending.

Steamship

thin United Engineers Ordinary

Izvo

Business was done In the local rooficial exchange market 0.8. dollar morning at the following enter:--_ (per #1)

559 Weathe Bronces Sterling notos (par 21)

10.60 | IronRank Thi Indonesian rupiah

(per 1001 Stam ticals (ber 100)

20.00 Singapore (Strail) Indo-China pinetron (per 100) 9.17

EVER

BALL

-$3.602

1080 Petaling Tin

cum-div. Cum-capital logite * with div.

-China Mall Special.

LIN

LINES

EVERETT ORIENT LINE

Fast regular freight

service passenger Philippines,

Rangoon,

refrigerator -

Korea, to Indo-China, Siam, Calcutta and

"REBEVERETT"

Arrives Satta

Feb. 20 from Manila,

Fob, 27 for

Japán, Malaya, Chittagong-

Singapore,

Calcutta

Penang, &

Rangoon, Chittagong,

"BRADEVERETT"

Arrives Sail

Mar. 3. from Singapore. Mar, 3 for Kobe & Yokohama. (Accepting eargo for transhipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STAR LINE

Fast regular freight refrigerator service to Japan. Malaya, Colombo, Bombay, Karachi and Persian Gulf.

1

(Subject to inducement for direct 'call: Korea) (-/

“LAO

Arrives

Feb, 27 from Japan,

Feb. 28 for Singapore, Port Bwet- tenham, Madras, Colombo, Bombay, Karachi, Boarah, Kuwait & Bahrein,

"STAR ARCTURUS”

10 100

6' 214

NEW ORLEANS Prices of futures closed today

Spot

.-

204

Gillette Safety Razor

Goodrich (B, F.) Co.

Goodyear Tire & Rubber

Homitake Mining Co.

No. Res pot

2016-281

Union

10 DES 100

}

International Busin

Machines

Settlement house termi

April

281-2814

Lombard Underwriters

D1 100

01

Conferees always give special May consideration to the possibility July of Presidential veto of unsatisfactory bill.

Mar.

3430

Salls

34.70

34.94

an Dec.

Oct.

Mar. May

37

May

International Nickel

June

Informational Paper

004

April/June

International Tel & Tel

2016

Tile/Sept.

John-Manville Co

Det./Dec.

Kennecott CopPET

1097

Lockheed Airerait

69

Leave Incorp.

Co.

6416 MAY

Minnesota Mining

Montgomery Ward

National Cash Regibier "A"

423

on board the Caronia in Liver-ternational Harvester

pool

bo hand a barograph 10 Captain Counce in recognition of this work.

Tankern are now sailing, from Britain full of ull, More than 5,000 tons of lubricating oil were loaded into the British Patrol for her maiden voyage from the Inle of Grain, Kent, to Middle East,

The oll came from a plant oponed up only a few months ngo.

tho

The British Patrol was

Im Star Cement

National Diatiskova

National Lend a

| New York Central

Otis Elevators ...

Gas & Electrio

Pacific Western Ol Pan American Airways Paramount Pictures Philipa Petroleum Pittsburgh File Glass

Radio Corporation Ten Motors Republie Biesi

inclair Off

faunched at Newcastle-upon- | Bust, Olt Co. Tyno in August. She will come home with a cargo of crude all from Kuwait,

"Priceless", carvings will be in the U.B. Line's cargo carrior American Harvester, when, she sails from London:

British cracumen have work- að :- for -- Biz - móntha on Dia carvings, which, came, here in Now the 23 párikla

Vecutin

Southern hallway (Com), Standard Branda

Bhandara Oll for California Slangar 0) of Indiana A Standert, Oli of How Serwéy Stokley Van Campi Gudsbaker-Paci

Bwin & Co.

Zozm. Co.

Union Pacino Railway

·Unlod Gas Imp OVORIM

JE

Maral merkeis, eit bisia,

2014 April

Pinta creba intek

271 Detate crane thin

AMSTERDAM

The rubber market was flem. Prices closed today in guilders per kilogram, CIF March as follows:

No. 1 rubber

No. 2 rubber No. I rübber -

No. 1 crepe

2.10 buyers

3.ta puyers 2.11 buyers *1ed buyer satīnasad. PreR:

New York Foreign Exchange

New Yorki Feb., 29,

SHIPPING

Waterboat .. 20.40

DOCKS, ETC.

GREATER POWER

Many observers thinle that it Is possible that the Senate might adopt sme provisions giving greater

to the Tari - power. Commission in escape clauses

K.

Provident (0) 10.3) 10.30

19 16.10 and flexible tariff cases.

Whoslock

*7.04

LAND, ETC.

HH Hotel

HK Land Really UTILITIES

B7 100 G

21 250 21.56

July

LIVERPOOL

Futures closings, American middling, 15/16 inch, in penco. per lb, were as follows:

Juy/Aus.

Mar/Apr.

May/June

Dot-/Nov.

Deo/Jan

Stich

32.00

But the practical results of

Oncial values for spot evitons such changes in terms of actual Include:

18/18th tarif increases would be slow American middling 10% 10.00 3000 @ 16.40 and aimendments of this kind Americas B. 1 middling 7/8th

29.00 would be regarded generally inch

Ian Mexican middling k-jzażna inch 34.44 form rather changes in

**** All diners were unchangod. dubstance.

SÃO PAULO that supporters of Aarning

Futures were unavailable to the President's programme will day because of a holiday.

the upper hard in the In the United States, the

the

protectionist average price of 15/10 middling presumably would pro cotton at 10. designated spot long the debate in an effort to marketa was 84.17 conts, Sales cut, tho, limo extension of at these centres totalled 23,887 the

argement's pros

The House, bales United Pre perlock was

Biar Ferry Ko

14:30 13:

C. Light (N) ·1840.

Mgono £48.10.2012.00 Telephone

INDUSTRIALS

Cement

· Rope

-J7M | STORES:

550

gain

Serato

trado

fronts June

threo FORT

18, 1956. The strongest opponents probably attempt to rejon the Lime to two years, in the bellet that the truda policy issue will

mobene Important In

political campaigns wild

London Foreign

Exchange

Arrives

Salls.

Mar. 18 from Singapore.

Mar. 15 for Kóbo & Yokohama, (LIMITED PASSENGER ACCOMMODATION) (Accepting cargo for transhipinent Kobe/Pusan and Kobe/Okinawa).

EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the. Kepublie of FanLSTER with Limited Liability) Chinose Department: Telephone 28293. Queon's Building, Telephone'", 31206.

MESSAGERIES

MARITIMES

PO Box 5511. Quem's BUI

KAST" PASSENGER/FREICHT:

WCAMBODGE”

RVICE

CHTĚÉE

ANADYR

Mar 28th