1955-03-11 — Page 11

TRADE and

THE CHINA MAIL, FRIDAY, MARCH 11, 1955.

COMMERCE SECTION

NEW YORK AUSTRALIA NEEDS FUNDS

STOCK

MARKET

New York, Mar. 10. Stocks scored a major re- covery today despite some) lute selling by war traders | who hesitated to carry over- commitments,

The market regained $1,000,000,000

Cat

nearly

1** 35,000. 000,000 aloshed! from Crimi Market valun rons in three y yo que

MOT of heavy selling,

Individual Kate ranged to mote that 2 punts among the Jenters the

and

Cards, itsel

mireraft Shares in parlçular. And to 3 Janta 1 more in sty clat

Irsuch, much as Ameri-

To Increase Industrial Expansion

NATIONAL BANK REPORT

The possibilities of improving the present

CIT Potosh which spurted 6 supply of monetary funds for industrial expansion,

points and Briggs Manufactur-

Big, up more than

4 points,

and for general development in Australia are now of great importance, states the National Bank of Lochsion) After 1 selig Australasia.

Apr

*7*241 recovery WAR

Been

TES

whileh followed the ring

to new hill market that

We es t

the face o

the S

further taik Icom

The Bank says that the fall in the London

was accomplished in funds appeared to have steadied, and improvement was possible now that the export season was 111 full swing.

povestipation in- vulving the need for a dize

Intrins

EARLY SESSION

Tending was most selive early

in the nonus

through Treasury fits would magister | be endition: Lav the โมเ

The imeestal outlook for

alviarlson +fly

prvem rose,

ket alre jessation.

weleness,

was

el meded when realising sel

There wETE only 1,100 Sprues

Wilt compared

1.274 the total

Dadferd,

index yesterday

909 were higher, 184 lower.

tucio

shares

avernged

1.93 higher. bolstered by gains of abund I point ot inore in busues such as Allied Chemical, Chrysler, Standard Oit (NJ).

Oils Tears

the kunt performance with the rise ol 1.55 reflering Rains of #poln: or better

1

The best guns came outside the groups used in the ever-

aww.

inevauuraging.

SILOS KAO

not

گونه ام

! the market balso Sone Diercase pray minds

1 this medici might be called into play if the mumiket did not drengthen.

if

It would see that a perman af contral bank cs

15

World Cotton

Markets

New York, Mar 10. Collon prives today vignaxed alternate tal

with tracting.

il smart upturn

In fate

SEVERELY RESTRICTED

Ja the months ahead advances wrie vertain to itu severely Pestruded owing to the declina

bepind position,

the Bank slates

Donesite

STIPRALES www! 110!

Malaya Benefits U.K.

From US Ban

Singapore. Mar. 10. The United States Government's decision to lighten the export of iron and steel serap to all coun- iries

except Diexico and Canada may help Malayan scrup dealers get a better price from Japan, a lead- ing dealer sail today. Commenting on the nouncement by the U.S. Bereau of Foreign Com- of the Commerco Department Mr C. 8. Yin said that Malaya fa A good chance of reiting Th fair price for her 25.000 lons of scrap exported an- nually, the bulk of which goes to Japan,

OUTPUT AT HIGH-LEVEL

INDEX AT RECORD

FOR JANUARY

PEAK PRODUCTION OF CARS

AND STEEL

Mr Yin said that Malaya was hard hit when Japan ceased buying ACTAD bo- tween May and Augant Jast year due to foreign exchange difficulties.

140

1955 1356

130

1954

125

He added that the pre- sent price of about £10 per ton in below

120

cosk~-

115

1107

UK. INDUSTRIAL PRODUCTION

1953

105

(ALL INDUSTRIES) 1948-100

J

F

M A

M J

J A

S

United Press.

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

on the Hong-

Exchange this

ESTIMATED

O N D

London, Mar. United Kingdom industrial production in January was 41⁄2 per cent above that in January, 1954, and was the highest yet recorded for that month, says the Financial Times.

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Outwards "CANTON" "CITUBAN

Leaves London

4th Marca "CARTHAGE" 30th March

Due Hongkong

4th Apri

16th Apri

2nd May

Vie Soulbamplon, Port Said, Adamı, Bombay, Colombo,

F'shang & Bingapore

Homewards "CORFU" "CANTON" *"CHUSAN”

"CARTHAGE"

Leaves Hongkong Due London

11th March

11th Apri

0th April

9th May

2nd May

30th May

0th May

6th June

Via Singapore, Penang, Colombo, Bombay, Adin,

Park Bald & London

* Alio calls Marpollies,

"SURAT"

"SHILLONG"

"SURAT

FREIGHT SERVICE

due 16th Mac. from U.XC via Strația loads 17 Mar. for Kobe & Yokohamna duo 3th Apr.

from U.K. & Straits load th Apr. for Kobe & Yokožama loads 13/1412 Apr.for S'pore, P. Swation.

bam, Penang. Colombo, Aden. Port Bild, Gesos, Marsilios. Havre, Lon- don. Antwerp, Rotter. dam da Hamburg

With liberty to rail at Delawan hefore or after strafta Ports and at Bombay ir inducement offers.

Tanks avaliable for carriage of Oil in Bulk. Space for refrigerated cargo. Limited Passenger

accommodation

BRITISH INDIA S.N. CO., LTD.

,"FULTALA”

13th Mar. from Japan

azia 14th Mat.

"SANGOLA” due 25th Mar.

"SANTIKA”

For Singapore, Calcutta & Chittagong

from Japan salle 20th Mor. for Skogapore, Petani,

Bangoon & Calcutta duc 2014 phát, trong kho PDE DOI

& Straits salis 29th Mor. for Jupon

P. & O./B. I. JOINT SERVICE

"ORMARA”

"OKULA"

"OBELA"

the

Production of motor vehicles and of steel was at peak levels, although Industries such as coal- SHARES BUYERS SELLERS SALES mining, brick-making and

cement manufacture produced less than in January, 1954, due to bad weather this winter.

ratusdetory segarve of ve-Inezit funds, est in a IKUSLE,

capital w seurte, on where

Chern copil Was m

Im Austridia, no efford should Faise the rate of

Business done be spared to

kong Stock ď portable. The Bank potents out that in

moming an ounted to $271.712. the 1930's alrond 68

Noon crol t

quotations And the por ail trading

morning's transuctions: bunk dejomils were vi the fised-term

interest- Gying up

thy. Today opening rise bearing type.

Was only 20 per cent. of 85 cênta a bale, the murkel aircrafts with a rise of nearly 3 points.

This great change might be at antel Icovered Bendix rose 2. North subsequently

least partly attributed bettered the opeilug kids.

น the American 7 3 G. among them.

Technicians surmised traders arbitrary continuance of low Metals also were goo per-

Word adjusting market post-rest rates after the war. formers

tions following Monday's slump to the lowest levels in over a ytar.

Cioperal

Dynbinics

Shipbuilding

strong Loo.

The New

paced

Issues

Wero

York Stock chungo bond volume was 490,000.

The change sharca.

Antienn voluine

Stock

Ex-

1147

ascribed

Truders

the overtores of steadiness to a ne $3,-lief that weak holding had been eliminated on the recent devline.

there was a Ex-However,

wariness among

940,000 following was

Dow-Jones closing averages un Wall Street today were as fol- lows:

30 Intustrady

20 Kuila

14 utilities

03 stuctu

40 bund

Comm. future price index..

YESTERDAY'S PRICES

Alden is Aer

Allied Chemicali

Allis Champne

American Auline

sumie ubout the rallies tou far pending more encouraging re- velopments in the textile market and tongressional developament on farm legisła Dou.

Trading Volumes and open Interests in the Exchange today

0,200 218,200 2.362,00 balen

Prices of futures closed today as Iullow

NEW ORLEANS

34.85 33.74

33,04

34.23-10

34,51

34.43

34.40

34.04

34.13b

Prices of futures closed today

200

an

pro-

BANKS

Past Anio

INSURANCES

12:30:47 Lumbar

VTO So

10 @ 970

the

DOCKS. ETC*.

What Dock

G4

23 80

GON) 20

1040

800

500

20

Provident (0) 13.40 Wherlock

13%

January 300

710 715 500

7 15

1000 710

Australia must also far. faol if her development is to continue at the present rate, u of outside assistance will be necessary.

JIKASUTU

World Rubber

Markets

Singapore, Mar 10. After pening steady on ever- adver Hay rubber market Ductuated uncertainly durik

Live

Future elongs Struly Cens per Ib. FOB Mulayay ports were:

sis.

No 1 rubber Mar

A

May

No 2 rubber Mar. No 3

unrepitosteci BASS-BOT RTER-SA 875-87

LAND, ET

Sulphuric acid production, which is generally accepted as economic Indicator, wast higher In January. The net 25 30 result was that the Contral 2300 Statistico!

HK Hotel XD 10 1 10 5000 10:30 HK Land XD 2 05 S'has Land

Humphreys

XD

UTILITIES

גוון ריני

250.

22 10

20 40 24 RO 300 20.80

15 142

177

Star Ferry

XI Yanati Perry

Light 101 1870 17 1000 up [7 COBRA IN) 12% 13 20 200 or 13.70 Klic

13% 34' 30344 Telephon

XD

Office index of output for all indus- tries was 132-133, compared with 127 in January of Just year.

of

Opposition

To Sale

quarterly Of Synthetic

The

receipt Agures by the C.S.O. has

lo

an upward revision of the monthly "all Industries" index for the three months of the Anal quarter of 1954. The Index is now given as 137 for October, 130 for November, and

120 for December,

two

onc

Rubber Plants

Washington, Mar. 10.

Democratic Cen-

Three

These are increases on earlier announcements of one point, gressmen today launched a point drive to block the proposed points, and 200 2820 respecüvely.

sale of 24 Government. No great overall change in

owned

synthetic rubber activity

shown by the 20021 00 textile

plants Industry in January,

private Although cotten yanı output panles.

R-17

-

STORES, ETC

Dairy

Watsem

2194

IN).

73 20.20

13.40

L. Crawford

20

No 4

Spot rubber unbaled

#91% -39%

Blanket crepe

82-004

23-041%

COTTONA

Texille Corp Nonyang

4.00

Allied

Na pale crepe

NEW YORK Futures today closer 40 to 45 points higher with sales of 215 contracts.

Evening-up operations in the March delivery before its ex- piration at the close accounted for a good part of the activity. 21 ม misle market ruled quiet and

Shipment atendy

offerings were reported light and above a workable basis, factory buyera

MISCELLANEOUS Yanglaze....

4.55

1009 4.17!

Evacuation

Of Tachens

Avas

to

com-

told

was slightly lower as comparol Congressman Emanuel Celler within year curller, while that | {Democrat, New Yo:k)

Abrea Congress ihat many of the pro- of rayon and synthetic increased,

spective purchasers had been Final figures for the last two found guilty of wrong doing months of 1854 compare:

against the United States in

cases,

All Bdustries Mining ERA

quarrying. Manufacturing

Gan, electricity and water

1948=100 1954 Dec. Nov. 128 129

ED7 118 12 143

161 15A

1953 Dec. Nov.

ALL Wright_Patinsa

(Democrat, 121 133

108 112 123 130

148 140

Singapore

403 BI

1-31 22 03 67

were:

132 47

JUO UZ

LATAL

Menth Avio

Volume

0,700

Open interest

21,300

May

July (x1

1+7,200 40,000

136,300

0-14.000

38.500

207,000

214147

21.400

216,300

974 Mar

11, 103

315,00

71% May

8,400

1200,150)

21 July

Albertran Bethl

30 21:4

Aluethan Sabung

40

American Tel & Tel 120 1

NEW YORK

American Tobatego

05.

Anaconda Copper

0211

Armeo Sleet

70%

Annour

14%

Dalwin-Liina-Hamilton

10

Baltimore & Olo

45

Bendix Aviation Corp.

Benguet Cons.

Bethlehem Steel

1237

Airplane

124

in Pheific Rakwny

SUP

Cane 13.1.) Co

144

Chime Natal Bik

59-44

Chile Copper

21

Chrysler Autors

Commercial Credit

Commonwealth Elec

Se

Comidated Edison

Continental Steel

Corn Products

21536

Crane Cu.

4394

as follows:

Cuban American Sugar

16

Curtis Wright

21%

Sput

Dupont de Nemours

10%

Mar

Basunan Kodah

7006

May

General Electric

51

July

13.00 33.68 34.00-10 34.27-30

7611

Oci.

34.15-42

Der

34,58

Mar.

35.20

Brokera

71

Mac

Singapore, Mar. 11.

today quoted the

3438

May

31.25

Co

May

34.01

Juty

Goodyear Tire & Rubber

July

34.52

Sept.

Hmnstaka Muring Co.

Dec.

20.83

International Busin

LIVERPOOL

Mar.

20.35

Machines

International Harvester

37

Official values for spot cottons

in

International Nickel

International Paper

include:

1

International Tol & Tel

John-Manville Co,

American middling

Kennecott Copper

108/

15/10th lach.

3133

Lockheed Alteraft

031%

American middling

Leows Incorp.

JACK

7/8th inch

"the casing of tenske following Hongkong the Tachens evacuation."

The Natural Rubber Bureau,following stock prices repesentative here of the naturai | priush Borneo Petroleum

Byrkticate rubber growers, said today it is

Tin Smelter. believed that the substantial Consolidand

Ordinary drop

the rubber market Fraser

and Neeve · Ltd., during the.

latter half of _Ordinary true

Lid., and Neavo February was due principally to

Tanghal bank

Opening

#1.25

$0.00

(Colonial

20.03

Lone Star Cement Co.

Mexican miduling****

April

Minesota Mining

____1-1/2x2nd

33.71

May...

2011-201

Montgomery Ward

70

Nigerian NA

12.63

National Cash Register "A

41

Byrian No. a roliginner

July/Sept.

2522-257-

22.00

National Distillers

2196

Egyptian Karnak good/fuily?

Oct/Det.

2012-2013

Jan/Mar.

2331-234

National Lead

4:0

food

50.25

New York Central

13

Egyptian Ashumpuni.

good/

Tully/good

Mar.

2002013

37.27

Olis Elevators

401%

Others were unchanged.

April

20 -2014

May

2536-2016

The Bureau mid "the market Malayan Breweries

Haftic Hotel had gone too high, it had been Singapore Cold Storage ...

in the first place, Bouth British Insurance over-bought and the Jong scrambling to take Straits Trading thoir

profits snowballed the United Engineer Ordinary initial

drop Into a decline of major. magnitude."

$7.05 $4.00 $2.10

$1.25

$23.20

$10.69

$11.00

Waerne Brother

$2.00

Hongkong Tirs

47

SAO PAULO

Estate crepe

Petaling Tin

$50%

thick

⚫ with div-China Mall Special

this

General Foods

General Motors Glilette Safety Goodrich Bor

Pacific Cas & Electric

Paello Western Ou...

Pan American Airways Paramount Pictures Philips Petroleum

Pills

Radio

Corporation

Plate Clo

Rea Malor Republie Biocí.

Shell Oil Co

Binclair Oil...

Beeory Votum

Southern Radway (Com.)

· Bfandard Brande

Standard QROF

Standard 911 of: Indterin

Blanchard CA of New Jer stokley Van Carme Studebaker Packard · Cor

Futures closing in cruzelros per kilo were as follows:

MAY July

50,70 28.00

Oct.

50.00

30.20

-United Pre

London Foreign

Exchange

were

uninterested and Causes Rubber

dealers some

were soliciting consumer bids after the terminal

market closed.

Spot No. 1 Rss were quoted

at 31 cents a pound. Futures:

LONDON

The market was quiet, No.

Spot Rss were quoted at 26% pence per lb. Prices:

No. 1 Rapet.... 20%-20%

Bettlement house term:

***** 2012-2013

General markets, cif basis, porta:

AMSTERDAM

No. 1 rubber

1,5-255 buyers *

To Drop

Washington Mor. 10.

SUGGESTION REJECTED

The Bureau rejcoled sugges- tions that the

Stock Market

drop might be New York Foreign

Exchange

The market was steady. Prices attributed to a change by the closed today in guijders per Government's

General Services || kilogram, CIF, Mar. ás follows: | Administration In to rotation for the national security rubber stockpile, The GBA on February 10 increased the ceiling on

Eagland-officjal up-

unoficjal grading from $5,000 to 1,000 tons Canadian dollar rate; per month and extended the time #pot! :

buy In which purchase of rubber

No. 2'rubber ... 5.06 buyers No. rubber və 12.a'Buyeza 1. No. 1 crepe 29 268. buyers

United Press. -

Exchange Rates from the stockpile must be re-

placed

Pisture:

news - web': date in the locat “The meat; important elarnerik

market this at the following krates un ka entation?? the Bureau anidag Two Ten the absolute requirement. Alat

PIES FOR GB), (moka, Komel purchase (and 219)

kat pera: 100) placebCH20.10. Tomible” and CBA) has always

New York, Bar, 10.

1278-23/12 2.08-2,70

#4193.2

Texas),

Chairman

his

of the Small Business Commit- lee of the House of Repre- sentatives, said he intended to introduce the resolution today which, it adopted by Congress, would block the sale of the fac- torics

for about $285 million. Mr Patman announced intention to the House Armed Services Committee as the Com. mittee began hearings to review plans for selling the factories in conformance with the law to big-name rubber com→ many

panies. The sales will go through unless Congress passes a resouition of disapproval by March 25.

The

Armed Services Com mitten called

another hearing tomorrow to hear Mr Patman and Mr Sidney Yates (Demo- crat, Illinois) defend the Patman resolution.-Reuter.

New York Sugar Market

Now York, Mar. 10. World No, - 4 sugar futuros closed today unchanged to A point lower with sales of 130 contracts,

Domestic. No, & sugar futures unchanged to 3 points lower with mics of 107.com-i

tracts.

.A

Routine dealings between trade interests niede up most of the activity try both contracts,

Future closings were: Contract No. 8. (World).

May

que 18th Mar, from Kakinada Si Biedras Halit 20th Mar. for Jupan

dus 30th Mar, salia Jai Mar.

das oth Apr. salla. Tik Apr.

from Japan

for Smgapore, Colombo, Karachi Desrah, KheS » racabar & Kuwed. from Japen

for Singapore, Penang. Colombia, Bombay 22

Kamchi

EASTERN & AUSTRALIAN S.S. CO., LTD.

"NANKIN"

"NANKIN"

Que 22nd Mar, from Australia satti 23rd Mar, for Japan

due 18th Apr. from JapŢI

sails 10th Apr, for Sandakan, Brisbane,

Sydney, Melbourne Adelaide,

All vessels have ilberly to call at any ports on or 'off the route & the route & smiling are subject

to change or amendment with or without notice.

Tor full particulars apply lo...- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.

EVERETT

LINES

EVERETT ORIENT LINE

Fast regular freight — refrigerator

service passenger

to Korea, Japan, Phillppines, Indo-China, Slam, Malaya, Rangoon, Calcutta and Chittagong.

"NOREVERETT”

Arrives Sallo

Mar, 20 from Manila,

Mar. 21 for Singapore, Pebang.

Rangoon, Chittagong Calcutia.

"LENEVERETT”

Arrives Sails

Mar. 27. from Singapore,

Mar, 28 for Kobo & Yokohama (Acooping cargo for transhipment Kebe/Tusan and Kobe/Okinawa)

EVERETT STAR LINE-

Fast regular : freight -- refrigerator servion ta Japan, Malaya, Colombo, Bombay, Karachi and Persian Gulf.

(Subject to indutament for direct call Koras)

"STAR BETELGEUSE”

Arrives Balla

- Mar, 18: from Japan,

'Mar. 20,- for Bingapore, Port Swetten. ham, Madras, Colombo, Bombay, Karachi, Khor ramshahr, Basrah, Kuwait & Bahrela

"STAR ARCTURUS" Arrive! Sails

Yokoias

Mar, 21 from Singapore. Mar. 21 for Kobe de

(LIMITED TABSENTER ACCOMMODATION). (Accaping cargo, for transhipment Kobe/Pusan: and... Kebe/Okinawa)

EVE

ITT STEAMSHIP CORPORATION.

fsted: 34, the Mepublic" ot÷PARAMA.