1955-05-11 — Page 9

་

OVER THE POLE

SYDNEY TO

AMSTERDAM

Sydney, May 10. Australians going to Europe by air will. from Jane onwards be able to sit back eating roast chicken and thick juicy sleaks while their airliner skirts the top

TRADE

THE CHINA MAIL WEDNESDAY, MAY 11, 1955.

and COMMERCE.

SECTION

MERCEDES OPENING IN US

of the world to land them NY COTTON

ni Amsterdam....

In the last 18 hours of their

fight they will be able to sip champagne it they want, and look down on the ice caps and glage-like, mountains of the Barren Islands, Greenland and the northern tip of Iceland. //

Canadian Pacific Airlines are Introducing this new service

from Sydney to Amsterdam via Auckland, Suva. Honolulu, Van- couver, and then across the Aretic Circle to the European 1erminus.

Passengers will have a total 50 hours in the air and a 261⁄4 „hours stop-over at Honolulu.

ONLY LINE

They will be Eying with the only airline to take a passen- ger route which crosses the Equator, the International Date line, and the Arctic Circle on the one fight

According to the experis, the Arette Circle offers the smoothest fying conditions in the world.

There is no "weather." Thun- derstorms are unknown. Cur- rents of heated air which rush upward over other routes to bounce the planes tround do not exist.

wings

Icing does not bother planes so near to the North Pole. It is too cold. Ice, forms on -only in narrow temperature 'range around freezing point.

Planes flying the Arctic Circle

650 fly over only

miles of ocean. The rest of the 4.800- is mile aight from Vancouver over land, beginning with the Canadian Rockies and out over the northern prairies befere cutting into the Arctle Circle; and then "downhill"" to the northern edge of Scotland and on to Amsterdam,

The route is so planned that thle aircraft will always be within 100 minutes of on-aire Beli Development of northern Canada and the building of air- port facilities among the Arctic islands made this possible.

The man behind th new route is the Company's presi- dent, Mr G. W. Grant Mc-

6 Conachie. This ft. 3 in. pilot pioneered Canadian, ale

former bush many northern routes.

MORE FACILITIES

com-

In the 1930's, flying in these vast frozen areas, -he paigned for more facilities for land planes against the then- popular sea planes.

EXCHANGE

CONTRACT

New York, May 10. The New York Cotton Exchange today announced the adoption, subject to membership approval, of a new cotton futures con- tract.

If approved by the members the changes will become effec- tive immediately. The COTT- mencement of trading in the October 1956 delivery, gradua)- ly replacing current.contracts which will expire in September 1938. The 1-1/32 Inch middling Inch cotton will be the base of the new contract, replacing middling 15/16 inch stapia which has been the base since 1939. Prior that lime the contract was based on inch staple

по

1

וי

Similar action has been taken by the New Orleans Cotton Ex- change Board of Directors, where

the approval by membership is required.

The new contract will allow full staple premiums for cotton for 1-1/32 Inch staple. As 1-1/16 inch And longer staples, provides the the new contract average premium for 1-1/32 plus 75 per cent of the difference of the premium

1-1/32 between and 1-1/16 inch.

Will Concentrate On Quality Production

New York, May 10.

The formation of a United States and Canadian subsidiary of the German Mercedes Benz automobile. producer is announced and indications are that its first trucks will be assembled here some time this year.

Mr Carl F. Giese, Director of Daimler-Benz A. G., said the new company, known as Daimler-Benz of North America, Inc, will build its own plant in the United States with capital "already secured" and with assistance of American partners.

INDIAN

EXPORT

TRADE

New York, May 10.. Great potentialities exist for India to boost her export trade in Middle Eastern countries, ac-

Mr Giese, addressing an un-of medium size and Diesel usually well attended news con-engines of all kinds for auto- ference.. however refused tomobiles, trucks, railrönd engines disclose at the moment" the and of the stationary type. extent of the capital investment

Benz

the names of 'American "Diesels developed by Daimler-,

In Germany are so ad- say partners. He would only

we teel the United that the amount of money was vanced "just a few million dollars" and States market might find their that the partners "are not use profitable," Mr Grese said. General Motors and Ford"

Mr Giese said the US sub- sidiary will specialise in trucks

Mr Gless stressed that no sports or passenger car produc- tion or assembly in the United States was contemplated by his company. at present.

!:

"We do not intend to compete

British Steel

Production

London, May 10. British steel production in Apell came out weekly average of 393,400 tope compared with '199,-* 900 the previous month and 368,300 in April, 1954. Although April-produc- tion

was affected by the

Eastera holidays, 'the weekly averages were the highest for that month: Piz from production tol- lowed

the. maine trenal, with the average weekly output in. 'April at 238.500 tons, compared with 240,- 700 the previous month, and 212.700 in April, 1954. ---France-Presse.

HONGKONG

STOCK EXCHANGE

ing to a report submitled to World Rubber with existing American models, tong

córding to a report submitted to the

delegation which recently studied Egypt, market conditions in Turkey, Iran, Iraq, Syria, and Lebaner

Markets

L

to

delegation of The official Indian traders was understood

was the

rubber have recommended appointment of committee of steadier on better overseas ad- The Micronnaire requirement Indian traders to keep liaisos vizes

with trade support and

Singapore, May 10.

The

market

for all cotton tendered on con- with the Government for the covering. Future, closings were tract will be raised to 3.5 from purpose of regulating exports No. 1 rubber per ib. Máy 1-9114 3.0 (Micronnaire is a mechanical according

to the tests and

NEW YORK

No.

Blanket. creper

June 9044-0012 July unquoted

871-86 85-251 DEL-913% #11-21

May 23-6814

test used to determine the fine-requirements of Middle Eastern No. 2 rubber per Ib. ness of cotton).-United Press.

countries.

There are especially good No. 4 markets for diesel erigines, Spot rubber unhaled ..... Prices of futures closed today sewing machines, electric fans, No. 1 pale crepe as follows:

plastle goods, tea and jute, the report said, was singled out; as particularly

The market was steady. Prices promising because it has closed today in guilders. per 31.33 3420

'gendine desire

to trade with Hilogram, CIF June as follows: 14.10-11 | India-United Press,

Spot

May

July

October

Drermber

Match

MAY July

NEW ORLEANS

35.00 34.52

33.59

Prices of futures closed today as follows:

Spot MAY July

October December

March May

July Landing

strips came into operation.

LIVERPOOL

Official values in spot cotton

The strips made possible the North-West staging route during | included: the last war, across which planes from the United States were flown to Russia.

Later, Mr. McConachle in- augurated the Vancouver-Orient route, via the great circle across the Pacific.

Canadian Pacific is not the first airline to fly the Arctic Circle. Its pilots are already learning the ropes in the cock- plts of the Scandinavian Air- lines System, which last year began * service from Los Angeles to Copenhagen over the Arctic.

American middling

15/11 Inch

Nigerian NA 2 Indian & Pakistani

roller-zinned

The Sudan

Singapore

area

Stock Market

Singapore, May 11. Brokers today quoted the fol- lowing stock prices:

AMSTERDAM

No. 1 rubber No.

rubber

No. 3 rubber No. 1 crepe

2.54 buyers 2.63 buyers

(From Our Correspondent)

Business done on the Hong- Stock Exchange this transcontinental morning amounted to $490,180.- haulage. We shall be in be- 30. Noon quotations and the

morning's transactions:

the over-size

tween."

Mr Giese stressed the new company will aim primarily at quality, necessarily so in view very small numbers. of the that will be produced in corn- parison with Detroit's production methods, - United Press.

mass-

Chicago Grain

Market

Chicago, May 10.

Bye-continued strong, but

other

were irregularly grains lower on the Board of Trade today,

Traders said the buying

2.00 buyers rye, futures were influenced by 2.18 buyers the rise in prices at. WinnipeZ. where the advance of all grain it futures was strong.

spot Rss were quoted at: today 27% pence per lb. Prices:

SHARES BUYERS SELLERS ŠALEN BANKS

HK Bank... 1575

LYSURANCES

10 1375

Union XALL, 90715 Lombard ....

51

DOCKS, ETC.

Dock

24 Provident (0) 122.3

200 12.10 Wheelock 720 74. 2005

LAND. ETC.

HK Hotel MK Land

+--

14.20 17.0 400 17.40 10071 400 GT

2.10

Humphreys 16 RTS 4.30 Realty

LTILITIES

******

21.60:20 500 1-21.70 Star Ferry i

131 124 Tmati Ferry J05 107 C. Light (0)

XD

20.20 2014 1009

2020

Pige

US. COTTON CROP

New Record HighFor Acreage Harvested

Washington, May 10.

The Agriculture Department yesterday fixed the size of the 1951 cotton crop at 13,679,000 bales. The value of the crop, based on the season average price to May 1 of 33.77 cents a pound, was about $2,802,000,000. This compared with 1953 crop value of $2,652,000,000. The 1958 average price was 32.24 cents a pound.

Thak 195- crop estimate! based on actual ginnings, co- pares with production of 18,- 485,000 bales in 1953 and a 10-year average

of output 5,702,000 tona of cottonseed was separated from the lint in the 1991-crop ginnings, com- with 0,748,000 tons in 1953. The average season price a ton indicated a total 01 60.30 production of cottonseed valued at $344,000,000.

pared

In

SEED PRICE 1953,

cottonseed prices

Tea Traders

May Limit Quantity

Colombo, May 10. Ceylon's Tea Traders Associa- averaged $52.70 a ton and pro- tion has discussed plans for duction, was valued at $355,-limiting the quantity for sale to 000,000.

4,000,000 pounds for Each The report

said acreage in auction... cultivation last July 1, the start

of

the 1954 season, is estimated Whether a quantity restric at 19,791,000 acres, with 19,251,- | Hon might not result in de- 000 acres being harvested. Yield tericration of the quality of the Per acre on the 1854 harvested tea left in storage until it was acreage is now estimated at 341 sold caused concern in the tea

circles, however. pounds--a new record high.

In

les, ustion. also was posed 1953, there were 25,344,000 The

question acres in cultivation at the start by the

trade

whether observers of the cotton year, and 23341,-

would condescend to 000 acres harvested with yields accord a government-to-govern averaging 324.2 pounds an acre.ment system of trading in tea. Ten-year average yields were with Ceylon. They said that If 272.1 pounds an acre.

the present Tory Government The acreage allotment for refused, ther

would con Ceylon wor 1954-crop cotton, set after a sider other markets,

growers referendum in Decen- behind the Iron Cven those

ber, 1953, had been set 18.113,200 acres-United Press.

PENG Mr S.

New York Foreign

Exchange

New York, May-10. Canada

$1,01-3/18 England official

4.79-27/32 30-day futures . M-day futures 2.1882

United Press.

Pathmanathan, & director of several tea com- panies, said the Government's, decision to trade in tea should be on the government-to- government level, the same as it is in rubber.

He said that if the United Kingdom refused the offer the interested only other

country would be Australia because the Iron Curtain countries. were not Favid tea drinkers-United Press.

EVERETT

LINES

EVERETT ORIENT LINE

Fast Regular Freight Refrigerator Passonger'

Loading for Singapore, Penang. Hangoon, Calentta an'a

Chittagong.

500 5.80

- “REBEVERETT*

"NOREVERETT**

Textile Core 5.70 MISCELLANECUS

Yangtz Allied

6.20 6.30 1700 @ 0% ....... 400

XD ....... 14.70 14.50 500

18.10 13.80 500 a 13.70 500 18.60

14.70

LONDON

500 bộ 11 $750 40

Electric 38

31.00

34,86

34 15-18

34.28

34.15

Consolidated ΤΙΣ SmeXers

Ord.

Ltd. Ord. Fraser & Neave 32.35 Fraser & Neave Ltd.

Batu Lintang Rubber Co.

Ltd British Borneo Petroleumn

Sindicate

No. 1 spot Ass

Settlement house terms: Jane May 11 Opening July/Sept. Jan./Mar.

$1.40

2714-2714 2814-279% 20-287) 2014-20 General markets...cif basis, porta:

The market was very steady. The Agriculture Department

Telephone estimated 652,886,000 No

bushels of Winter wheat will.] bo harvested this year. Today's | ÎNDUSTRIALS

стор estirnate, based on May 1

compares conditions, Aprili 1 forecast of 820,880,000 bushels.

39 700 0

500

360@

.. 31

321000

1000 Go

Cement

with

Rope

STORES, ETC.

Dairy

28.80 29.14 2100 @ 29

15

4

100

24.3

32/-

Liay -June

2632-27

CHICAGO GRAIN PRICES

Watson

13.40

261-26%

Estate crepe

30/-

thick May and June

$1.65

thin

2914-2874 2314

Chicago, May 10. Prices per bushel in cents:

I Crawford 25.70

COTTONS

United Press.

Américan strict low middling

7th

71% cum. pret.....

$6.60

34.19 Hangkang & Shanghai Bank-

Closing prices May 10

31.94

Hongkong Tin Lid.

ing Corp. A

$825

31.50 Kempas Ltd.

$1.43

30.40 Lunas Rubber Estates Ltd.

$1.00

20.85 Malayan Breweries

$3.60

London Wooltap Market

Wheat No. 2, red Spot

21911

May 219% (H) 217(L)

21235-22

July

2014-

Sept.

Dec.

47.75

Ltd..

.......

Jan.

30.75

Petaling Tin Lid.

Raffies Hotel*

$2.06

Singapore Cold Storage'

$1.67

London, May 10. Wooktop futures market again

Corn, No. 2, yellow Spot

South British Insurance

$20.00

closed steady after a quiet day; turnover was a Hüle higher at

May

July

Sept.

1451⁄2 147-34 140

$22.00*

42 lots,

Dee

$13.00

Jan:

United Engineers Ord.

$11.00

Weams Bros.

$2,05

Prices, where changed, were 76 a shade higher.

May

July

100-1987 104

Closing prices were (in pence

Data

May

July

073

Boybeans, No. 2, yellow

May

117.1171

Spet

July

1184-118

May

Sept.

11892-129

July

Oct.

118-118

Jax,

118-11614

Sept.

Mar Mat July

21742-117

NOT,

11736-11732

Jan.

Farley.

Sept

Spot

New York flour

saw-glared

roller-ginned super fine Egyption

Karnak good-fully/good Ashmouni

-United Fress.

Cotton Deal

Although the, new route takes the planes with a few hun- dred miles of the magnetic Pakistan today signed

vary

Karachi, May 10.

an

New Serandah Rubber Co.

Co. Ltd.......

Straits Trading

Stralis Steamship

ex-div.-China Mai Special.

New York Sugar per 5.)

Market

North Pole, pressurised cabin agreement with Italy

for the temperatures will hot

import of cotton yarn worth despite the intense cold outside | US$1,000,000. The agreement the aircraft,

is the fifth in a series concluded

New York, May 10. Special

Domestic No. 6 sugar futures navigational aids within the framework of the developed by the

ald to closed unchanged to 1 point Royal United States economic Canadian Air Force for far Pakistan, under which Pakistan higher with sales of 24 con- northern latitudes will combine can import textiles worth $22,-tracts,

with

radiq navigallon to beat 000,000 from any country, sub- Profit-taking and hedge sell- the magnetic pull on normal Jeet to approval by the United ing lowered both contracts after Instruments. Winds wil help❘ States.

a firm start. Futures:

Contract No. '4 (world)

the pilots; both coming" and going China Mall Special.

VIETMINH

PROTEST

TO FRENCH

London, May 10

Pakistan previously concluded | July agreements with Germany, Eng- Sept. land, Hongkong and Lebation.- France-Presse.

LONDON TIN- MARKET

The

London, May 10: market was quieter

with spot falling £111⁄2 sterling

to £711% and three-months

יי

117-117 110%-1174 -United PreRS,

New York Wooltop Market

New York; May 10 Wooltop futures opened today

200 lb. sack

2014

138-13

$14.701 United PreSK. :

WINNIPEG GRAIN PRICES

Winnipeg, May 10. Prices of grain futures closed today in Canadian cents per bushel as follows:

US Manganese Purchase

Programme

Washington, May 10

The Interior Department 30- day

opposed legislation

to

extend the Government's "man-

Kanese purchase

from 1958 to 1963,

programme

It told a House Interior sub- committee that an extension "would make only a miner contribution to our supply of manganese."

that this and would not justify the extra $317.400

1,400,000 cost.

The Department's views were contained in a letter by Assist- ant Secretary of Interior F. E. Wormser. The present

proTM gramme, established in 1951, au- thorised the Government to pur- chase domestle. manganese in order to build up a stockpile in the event of an emergency. Pre- viously, Russia and other over- the chief seas nations sources of supply of manganese, needed in the manufacture of 10731-76-15 steel-United Press.

$19

Μάτι

MAY

July Sept.

Spot-cents per Ib, fob Cuba)

Contract No. 6.

Jiny

Sept.

in cents per lb. as follows:

Nov,

Aoy

183.5b

May July October December

Mar, Мар

July

170.5%

Byb

Spot (cents per lb. cut NY

Oct.

177.18

May

ex-duty)

521

Dec.

174.55

United Press.

Mar

May

171.1

Wool futures opened also in cents per lk, as folbis—

May

144.00

July

October December Barley Mary

Octobe December

1111

New York, May 10. Prices of metal futures closed

July

142.09)

140.5b

May

136.10)

today in lows: Lead

ints per Ib, as fol-

Mor

336.05

31.26

Press

Tun

PES

Je MAY

14.185

90.100

DOLDU

10.000

-United. Freas,

10.90b

Copper May

The North Vietnam Army 21 to £714. Turnover was NEW YORK METALİ has lodged a protest with the 40 tons of which 10 tons were French Union forces against an for cash,

alleged

séries CL

French Closing prices th Sterling per encroattimenta upan the long tot were: territorial wäters and air of the North Vietnam Republic, ac Tia spot buyers sellers cording to the New China News 3-month buyers Agency today,

sellers

The Nole asks the French High Command to retrain troni further such encroachments and

mentichs seven incidents said to

12

Stializes settlernent

have occurred between Apill Exchange Rates

19

2nd 29.

The Note bointed out these

„Dzkimas, was done it, the Tocot home exptiong

ehéroachinetts violated thening at the following rates:**

Generä armistice agreement and "créated en atmosphere vitia favourable to the consolidation of peace in Vietnam Reuter,

scarling notes, fur

14. dolar de S

am Bela pera

Singapore (cat).· Indo-China, plastoes. (per (209)

FUTURES

ITEMS NOT AVAILABLE

We regret that owing to

Bradford Wooltop

October

December

30G

Wheat No. 3, Northern was quoted at 171, cents per bushel while No. 5 was at 149 cents United Press,

were

London Copper And Zinc

London, May 10. The lead market was quiet in the official morning session. while zinc and copper were Turnovers were 200, steady 250 and 305 tons respectively for letal, zinc and copper

In the -afternoon" version (unofficial), the copper market was steady but quiet while tine London, May 10, was Prices, closed

sterling per long ton as follows: exception of 56's super which The price be silver was fixed

burers refine have been marked down one today at 76% pence per fine Coppers Sput

Market

Bradford May, 10.

Wooltops are more active but

prices are unchanged with the

LONDON SILVER

PRICES

Das very poor radio reception, many penny to 100 pence, it started ounce for spot and 16 for fore

of our uisital commercial items the year at 16 pence, and has ward. Both positious marked were not available this morning | been stanna, elf along. – United

Ed

of a penny.) United Lad

Service

Arr. June

*

1. "Sally Jan

my Lee 25

"BRADEVERÉTT" "LENEVERETT”

- June 20 July 11 -- July 12

- July 23

Loading for Kabe, Usaki, Nagoya, Yokahamz

"NOREVERETT**

“BRANEVERETT**

"LENEVERETT".

"REBEVERETT”

July

Arr. May -- June 14 Itrics 25

20

Sails May 30

- June 15

June 26 July 24

LIMITED PASSENGER ACCOMMODATION.

All the above enbject to alteration without notice.

EVERETT STAR

LINE

FAST REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Singapore, Port Swettenham, Madras, Colombo, Bombay, Karachi & Persian Gulf Pozi.

Arr. May 20 Salls May 21 -STAR ALCYONE" -

-June:14

“STAR. BETELGEUSE”

-STAR ARCTURUS”.

July 9

July 24

June 15

July 10

Aug. 20

-July 23. -- Aug. 21

(Arr. May... 14 · ***June

Sally Misy

"8

... Loading for Kohe, Osaka, Nagoya, Yokohama.

"STALL ALCYONE"

"STAR BETÉĽGÉUSE” “ITAR ARCTURUS” ATHAI

Aug.

July ZA ---- July. Aug. LIMITED FASSENGER ACCOMMODATION,

the above subject to alteration without notice..

EVERETT STEAMSHIP CORPORATION S/A (tacorporated in the Republie "of Panama : with Limited Liability):4 Chinesa Department: Telephone 28293, Queen's Building, Telephone 31206.

MESSAGERIES MARITIMES

| PO. Box 53:: Queen's Building ⠀ Tel: 268611

FAST PASSENGER/FREIGHT SERVICE "CAMBODGE" ................ salling Ma

LAOS

2017 PEIHO

21st Eailing June 18th

201

89-3

·FAST FREIGHT SERVICE

100 BIR HAKEIM"

Bailing May 12th sailing June 25th

„United-Press: