1955-08-11 — Page 9

THE CHINA MAIL, THURSDAY, AUGUST 11, 1955.

TRADE and

COMMERCE

SECTION

Pago

PRODUCTION OF TITANIUM Brazil's Wheat HOLIDAY SEASON

HONGKONG STOCK EXCHANGE

(From Our Correspondant)

Business done on the Hong- kong Stock Exchange his morn- ing

amounted to $1,100,000. Noon quotations and the morn. ing's transactions:

SHARES BUYERS SELLERS BALES

GOVT, LOANS

32 (1040

1700

5000+ 9215

101 1000

17

31030

BANKS

TK Bank

INSURANCES

Unlun

1020 1030

30 1035

24 10:30

22.40

75'

70 300 73

Logk

1

Provident (N

111 1000

1602

9 1300

16 15:20 0.70

SHIPPING

Waterboal

DOCKS, ETC.

1. Whart

Wheelock

LAND, ETC.

His Hotel

UK Land

RUBBER

2000 11.93

Chemical Organisations

Submit Application

For Joint

Production

London, Aug. 10.

Imperial Chemical Industries Limited and Columbia- Southern Chemical Corporation of Pittsburgh, USA, have submitted a joint application to the United States Government for a contract under which the Government would undertake for a five-year period to purchase 5,000 short tons per annum of granular titani um metal.

In their application to the Government for a contract have completeri the companies have stated that they arrangements for the introduction into the United States of a granular titanium process not at present employed there and would also make available to fabricators techniques not at present known or employed in the United States.

If a contract is awarded in enterprise lies in the production

19 DU 2060 20,10 pursuance of their application, of titanium tetrachloride, from

500 20.20 ICE

and Columbia-Southern which granular Hanium metol 2562010Chemical Corporation will form will be "marie.

5.00 10AM a jointly-owaed subsidiary for

the

of purpose

Hitanium

producing melal

World Cotton

Markets

INT'L SUGAR

COUNCIL

MEETS

London; Aug. 10. The Executive Committee of the International Sugar Council met in London today.

Top question on the Com- mittee's agenda was how much farther to cut the export quoins to the free market of the sugar- producing member countries.

of

Under the terms of the In- ternational agreement export quotas must be cut by at least five per cent if the world price sugar remains for 15 work- ing days below the floor price fixed by agreement. This will be the third cut in quotas since the beginning of the year due 10 low prices.

Another

cut five per cent would

represent tonnage of 207,004 of which Eastern European producers, excluding the Soviet Union, would count for 26,750 tons,

ac-

Production

Rio de Janeirò, Aug. 10.

Arthur Santos, head of the Bank of: Brasil's Agriculture Credit Depart ment, announced today a $40,000,000 programme for development of wheat production in Parana State.

pro

Brasil's wheat

duction of about 800,000 tons annually now comes almost exclusively from Rio Grande Do Bal and Santa Catarios States.

Wheat is second only to petroleum in valus among Brazil's Imporia, The country currently importa

than 8,000,000 to of wheat annually.-United Press

more

MALAYA

BYPASSING

HONGKONG

RELIEF FOR

STEEL INDUSTRY

London, Aug. 10. With the peak holiday season now here, the iron and steel market is virtually idle.

Producers of many products are so heavily booked, however, that they are glad of a respite from the incessant pressure of demand.

No serious repercussions are expected to follow the rise of prices which had been geriond- ly anticipated.

In any event, British iron and

steel is still relatively cheap and

Australian

consumers who are compelled Wool & Wheat

much

to buy foreign material find that they have to may higher prices.

Following the rise in dome- stic prices, certain categories of} Brith steel expert prices have been raised by £2 to £3 per

ton.

Among heavy items, plates of

Øver

Prospects

Excellent

Sydney, Aug. 10.

3/10 of an inch thickness and Australian agricultural experts have been increased by drew a highly optimistic picture £3 per ton to both Common of Australia's wool and whent wealth and non-Commonwealth prospects this season. destinations to £42 per ton

to non-Commonwealth de

Excellent climatic conditions.

Singapore, Aug, 10. Malnya is buying more and and more goods from China

direct are Inade shipments from Chinese ports Instead of and

said stations to £43 per ton both it was sald, had ensured record vla Hongkong, importers

FOB.

wheat crop and wool clips, with here today.

In re-rolled products, rein=|prospects of record, exporta this, QUOTA DEFICITS

Importing house sources sold forcing bars have gone up by season. Another

from the that goods matter which

China are £2 per ton, bringing the basis

A report issued yesterday by Executive Committee will dis- usually brought in by barter for 5/8 of an inch diameter and

trade. cuss is the question of quota de-

Company said the all Dalgety and Under the barter trade larger to 240 per ton for

Eastern Australian scene prò- ficila, Due to last season's bad arrangements Malayan products destinations,

Meanwhile,

of harvests of

new miscd "most widespread abun- beet in are shipped to China where sugar Liverpool, Aug. 10.

by dance.

of herbage for many steel plant has been given Trade Bureau Cotton future closings, Ameri-Eastern Europe, which Includes Goverment

Fox the sugar-exporting countries of | distributes

Samuel the them. From

and Company years," in pence per lu, Poland. Czechoslovakia, Hungary proceeds of the sale the Eureau Sheffield, a branch of the United already carrying a record sheep

Limited.

of Stockbridge. near

It reported that the land was and USSR, these countries have buys Chinese goods and ships been unable to deliver their re-

Steel Companies.

"oven population, adding that them to Malaya, the exporters

spend nearly the most quired quotas and have become getting a three per cent

They

conservative' graziers pro- £2.6 million on a now temporary importers.

com- subscribe to the view that Aus- bination bar and continuous rod stralla will soon carry 200,000,-

heat 000 sheep."

Columbia-Seuthern which is by itself as of the leadbag Ameri- ICI's sodhum reduction process,ean producers of chemical pro- wholly-owned ducts and is subsidiary of the Pittsburgh Plate Glass Company, has been in earch 011 the engaMETAL chlorination of titanium-bearing can middling. ores since 1937. It has estab-were as follows: fished a broad patent position

509 v 19.430

72

73 1100 737

1000

23

Kranular

Humphreys Really

20.30 2.25 2.30 8000

2.321) 11,600 mA 2.30

A. Rutiber

.2.15

33.000 1000

24.00 700 23

13 100 ON

KO

120 130

120

120

231

Ruber T..

UTILITIES

Tra

Star Ferry..

Yaumuti Ferry

C. Light (0) 23.10 231⁄2

S. Light IN)

Picctric

Marzo Elec

Telepho

INDUSTRIALS

Cempat

STORES, ETC.

Dairy

Watson

E1.20

34

33% 200

will companies The parent cach hold a 50 per cent inter- est in the new company, which

as Columb). would be known Titanium Company. The plant would be built at Natrium, West Virginia, and would have

a capacity of 5,000 short toms per annum.

The cost

of

the

in this held and today genees other companies under Colum- bia-Southern patents.

proposed Columbia-Southern and

Patent Position

Oct/Nov.

Dec./Jan.

Mar/Apr.

May/June

July/Aug.

ICI

KARACHI

to

in

30.50

201.03 20.37 28.0

can

are

Under the agreement they 23-40

should have notified the Council 18.20 200 18.10

metal plantbelleve that their proposal granular fitanium

of the size of their quota de- 43% 1000 44

the in

Prives of new crop were high-floits by of the Government will result 2000 41 will be

region

now. Despite this. US$10,000,000.

lower capital

production is erratic en conflicting rumours however, and

these countries 400 / 341;)

Fensts and in the acceleration of about export duty revisions.still use their quotas until the

s titanium fabrication Industry For the last two days there were end of the year and there in the USA. China Mail strong rumours about export already Indications of offers of Special,

duty en staple varieties will be sugar coming from East Ger- raised 50 per cent as demanded muny, Poland, and Czecho- by Pakistan Textile Mills Asso-slovakia during the last three ciations, as they plead that they moribs of this year. are the biggest consumers of Pakistan collon, and hence need protection,

100 of

ICI's patent position and 23000 23.3

500 23.30 pruduction experience have an 100 21.30 usually broad buse through 100 M 23-20 their experience of chemical

metallurgical and

1000 un 23

15.70 Crawford 371% 5815 300 30

knowledge

technology World Rubber

Markets

Their patent and procese extend from the production of granular Uitanium New sadiumi by their

nictal

Exchange Rates process, to melting, scrup re-

covery, alloying, testing, joint-

New York. Aug. 10. Rubber prices reached new are favourably placed by virtue post-Korcan war highs with no 13or their

IaIndication of А реак being. wide experience

Business was done th the localing and fabricato, in the lat- unofficial exchange market thikter of which particularly they morning at the following ralcs- U.S. dollar (per $11

12.00 non-ferrous metal technology. reached, Bache and Co. said lo-

Sterling nutes (per £1)

Australian nutes (per

1)

Indonesian rupiali (per 100)

13.33

Slara teak (per 1001 Singapore (Strait

23.30

1.80

Indo-China piastres per 100)

8.15 bution

Columbia-Southern's contri-

to the proposed joint

West

Eire After German Industries

Bonn, Aug. 10,

The Eire Government plans to encourage the establishment of German industries in Eire to help the country towards national, self-sufficiency, Mr William Norton, Eire's Deputy Prime Minister of Commerce, has stated here.

Mr Norton, who was on his way home from a private visit to a trade union meeting in Wiesbaden, stopped here for talks with Dr Franz Bluecher, the West German Deputy Chancellor.

up

in

10

in

day

on.

The advative has been based primarily

"unprecedented" demand for natural rubber by the United States and a sharp increase in demand by Russin, the brokerage house said.

80-4

LOWER PRICE.

Tinde circles In London say

the

been Russian

At.

are to

news

bar

and associated The sources said that direct mill and purchases

cost by treatment plant. reduce the

A report by Goldsborough Completion of the project is between three and seven per

Mort Company said that sca- two years' Ume. expected in cont compared to purchases

Insomal prospools were the best in Provision is being mode made via Hongkong,

the initial layout for the erec-many years.

Rural Bank President C. R. Goods for Malaya come from tion of an additional mill and

of the new Mckerihan said he "had never for the extension bar treatment plant should these seen greater evidence of a bum Tlentsin, · Swatow, Dairen

developments. be required In per year" for, farm production. Tsingtao.-United-Press.

-United Press. future.-China Mail Special.

Chinese ports IS Shanghai,

Singapore

and

satellite countries for shipment Stock Market

- Prices closed today in rupees that sugar has already

from offered per mound as follows:

trupee and ansas) during the latter part of the 4-F Sind_joller-ginted

00-12 year at four pounds sterling per 280-FNT Sind roller-gione.. Haw-ginneų

100-12 ton below, the price of Britisli

07-13 200-FNT Punjab, roller-ginned

réined. 100-12 saw-ginned

-United Press.

Chicago Grain Prices

•

Chicago, Aug. 10. Russian purchases, it noted, are

Prices per bushel in cents:

Closing prices the heaviest in four years, with no indications they have near Wheat No 2, red

Spo1

104 covering their requirements.

September 19511) 40322(1) 19374-44 Bache said it further increases December

March

108 for

May develop, a price increase

can also be July

182 synthetic rubber expected,

AMSTERDAM

Corn, No 2, yellow Spot September December

130

The market, was weak. Prices March

closed today in guilders per. May kilogramms, ell Aug. as follows: Ire

4.1.

No. 1 rubber No. 2 rubber No. 3 rubber

No,

BINGAPORE

4.00 nom. September November 3.85 rom. 4.17 nom.'

Oats September November

The market opened firm with Soybeans, No 2, yellow active trading. There was some Spot profit-taking at high levels, but September Mr Norton said any German | goods could be exported

all was well absorbed The November enterprises set

Eire Britain duty-free and would also market was uncertain towards March

facilities would have the benefit of Cum- enjoy special Ironwealth preference arrange- Canado, Australia, New Zealand, the close, ments through Elre's trade und South Africa. Among other could agreement with Britain.

which Eire Their advantages

offer German industrialists, Mr Norton 1sted abundant power and cheap electricity.

Telephone Contract

For Germany

Teheran, Aug. 10. West Germany has boen awarded

to supply a contract Porsla with 180,000 telophones, It was stated here today by n German trade official.

man

131-130% 125-14- 12014- 13112-1

87-15 100%

B74%

GL-60%

2441

228

223

January

Future closings were: No. 1 rubber per b..

August

May

Barley,

No. 2 rubber per ib. Aug.

1511-75124 Spot 153-10312

New York flour unquoted 1404-148 200 lb. nack 140-7411

$14.10n

United Prem

September

October

No rubber per lb. Aur. No. 4 rubber per tb. Aug. 131-132

114-115

163-152

In order to develop her in- Spot Tubber unbaled 13112-181% dustry, Eire did not need new Blanket crepe Imoney so much as competent No. 1 pale crepe ...... tcehnlelans, Mr Norton said.

LONDON

Confidence spot down 1% penco to 42

pence.

Oct/Dec.

Fatures closed today with

No. 1 Rss spot was

Prices were: The new enterprises needed quoted at 4194.

Settlement howe tern! bo supported by only 40 September

42-4314 much German capital as would October

4136- $135-4 demonstrate German Arris' con dence in their new ventures.

Eire was chiefly interested hij expanding her textile and light engineering industries, Mr Nor- ton added. There, would also be a good market for agricultural machinery, and a

prosperous chemical Industry could rounded in extile products,

Mr. Norton also stated, he The official said the contract, would be sending a "high-lovel signed by the Persian Ministry delegation to Germany in Octo-

He said the German bid had accepted in competition been

British, against

American, Japanese, Belgian and Swedish firme.

Was

be

be

Jan/Mar. Apr/June

General markets, cif basis, porta: August,

42-4214 September October

41.42 Estate Grupo Aug, and Bept. thick and tun were unquoted

New York prices were not received-United Press.

LONDON PEPPER MARKET

London, Aug. · 10.

120-140

NEW YORK METAL FUTURES

New York, Aug. 10. Prices of metal futures closed doday in cents per lb. as follows:

the

Singapore, Aug. 11. Brokers today quoted the following stock prices;

Opening

Sugar circits here do not believe that a third cut in ex-flatu Lintang Rubber Co. Ltd. $1.65

British Borneo

Petrolcum port quotas by the Executive Syndicate

4TR Committee would have this Consolidated Tin Smelters

Ord...

30% 3d desired effect of causing

Fraser & Nerve Ltd. Ord. 1.70 price to rise. While it is realised Fraser & Newve Ltd. that there are still certain coun 1357% cum. prei.

$6.50 Hongkong & Shanghai Bank- trics that will have to buy suging Corp.

under trade from Cuba

and Hongkong Ltd. bilateral agreements, there seems Kemper Ltd.

to be ample sugar to supply the Lanes Rubber Estates Lid.

Malayan Breweries

world's needs for the remainder of the year.

In consequence, the trade here belloves the market will remain quiet for the remainder of the year-United Press

London Foreign

Exchange

New York

Montreal Amsterdam

Brusela

'Copenhagen

Lisbon Oslo

PATIE Blockholm Frankfurt Zurich

Others

Press,

London. Aug. 10.

2.78-1

10.0216-

150 127%-100.13] 10 3318-19.394& 79.00 30.05 10.00-19.999% 0733-074 1436-14.95 11.00111470 12.1634-12.17, were unchanged.--United

London Wooltop Market

London, Aug. 10. Wooltop, futures market closed steady with prices quoted as follows:

September

Lead Aug.

14.00

Sept. Tin Auk. Sept. Zine Aug

Bept. Copper, Aut. Sept.

14.67h

90.60b

October

34.000 December

12.500

January

12,15b

47.000

May

45.750

United Press

September

LONDON METAL

PRICES

London, Aug. 10. The tin market was steady in the afternoon. Other metals were also steady. Prices clowed today in alériing per long ton 25 follows:

of Posts and Telegraphs and the ber or November to inferview West German Ministry of Pozia, industrialists who might

valued at between $20 | willing to invest In EJN. it Pepper market, was decidedly million (marly, 27 million) would be led by Dr. James dull White Sarawak was quot- Tot and 380 million (nearly £11. Beddy, Chairman of the ca, at 31, 43, while black Bary. ·B-month

Copp million)

It was the largest ahula contract granted... to. Cermany uitics the wRK/

Government's Industrial De, walk-spagialewan on 26 3140,

velopment Commission, art by rollers, for o Augu #hipment."] Lend

K:Jonn Loydon, “ high ofčin) Black, Malaber,

of the Commerce Minilstry. quoted at 322». 6d par hundrede. China Mikli Special.

Rinovitat

March

July

October Elecernber

New

-Unid

1-10075

New Secandah Rubber Co.

Lid.

Petaling Tin Ltd. Raffles Hotel

Singapore Cold Slomge South British Insurance Co.

Ltd.

Straits Trading. Strata Steamshilp United Engineer Oni. Wearne Brds.

30T0

3 1.80

$2.30

3.30

1.GO

China Mail Special.

888 888 88222

U.S. May Reduce Oil Imports

Washington, Aug, 10. The U.S. 'Government, possibly moving to curb foreign lim- ports, asked importing com- panica today to submit informa- tion on their shipments of crude petroleum, refined products and residual fuel off.

It sought data covering the first seven months of this year as well as anticipated Imports for the next 11 months.

The action came a week after 27 Bonators demanded to know what the Government intends 10 do to hold down imports which are allogedly hurting domestic production. United Press.

Currency Talks

In Korea

Washington, Aug. 10. Authoritative sources said to- day Korean and Antèrican nego- tiations appear to be approaching jan agreement, to set the ex- chaine Tate between the Korean Hwan and the United Bates “In the neighbourhood of 458 to

ork Wooltop one ca

They, “said.

that the on how

VER

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EVERETT ORIENT LINE

Bervica

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"RELEVERETT” "NOIEVERETT** "BRADEVERETT“ "LENEYFRETTO

Arr. Sept. 11

Satts Sept. 12

-- Sept. 30

- Oct.

1

- Oct.

12

--- Oct.

13

24 Oct.

www, Oct.

20

Loading for Koba, Otaka, Nagoyz, Yokohama.

"REDEVERETT”

"NOREVERETT**

TRADEVENETT**

"LENEVERETT,

ATT. Aug. 13 Ball Aug. 14

-- Sept.

2

Sc# Sept.

-- Sept. 14

3 -- Sept. 15 Sept. 27

- Sept. 27 LIMITED PASSENGER “ACCOMMODATION,

All the above subject to alteration without notics.

EVERETT STAR

LINE

FAST REGULAR FREIGHT HEFRIGERATOR SERVICE

Loading for Singapore, Port swetrenkain, Madzają Colombo, Bambay, Karachi & Persian Gulf "Pork *STAR BETELGEDBE"

#STAR ARCTURUS" *THAI"

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At Aug.

17

- Sept. 9

Silla Aug 18

Sept.

Sept. 28

Oct. 2D.

-- Sept. 27 - Oct, -Nov.

14

7 - Nov.

Sall "Aug.

- Oct.

Oct

Bept. Sept. 19

.15 27

Tom Hopt. -- Sept.

Oct. 20

Loading for Kobe, Osaka, Nagoya, Yokobazu METAR ARCTURUS“ Arr. Aug. 14

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LIMITED PASSENGER ACCOMMODATION. All the shows subject du alteration withaus notice.

EVERETT STEAMSHIP CORPORATION S/Á

(Incorporated in the Republic of Fanarea with Limited Liability) Chinese. Departmenti Telephone 28293, (weer's Buliding, Telephone 31206.

MESSAGERIES MARITIMES

"Building #7701) SET ISINGER/FREIGHT SERVICE.

Balling Aug, 18th kaling Sept. 10th

me-Aug-19th- sailing Sept. 21st