1955-08-18 — Page 9

THE CHINA MAIL, THURSDAY, AUGUST 18, 1955.

TRADE and COMMERCE SECTION

Page

BRITAIN EXPECTING A SLUMP Saner US Cotton

U.S. To Build

A Big Helium Plant

Now Yurk. Aug. 17.

of

of

The U.S. Bureau

will soan call for Mines bids for the construction A 30,000,000 hellum plaut at Exell, Texas, to increase the output of this light

weight, non-inflammable

zas by 50 per cent.

WHE a rating of 100,- 000,000 cubic fect

of

helium annually, the new plant

ruise would

the to 23- 300,000,000

Bureau's capacity

proximately

cubic feet.

The new installation will probably enable the Bureau

to meet demands for hellum

until 1959 or 1960.

After that, still another

plant may be required, China Mall Special

Butler's Disclosure In

U.K. Interest

House Economic Debate In Uranium

WEST

EUROPEAN SURVEY

By-T. C. Hillinan

London, Aug. 17.

Biggest event of Britain's July was the shadowy figure of Chancellor of Exchequer, Mr R. A. Butler, making a shadowy speech in the House of Commons on Britain's economy and the plans of the Cabinet.

This was on Monday, July 25-a day in advance of his original plan-and he employed all his usual understate- ment to make it plain that Britain's economy was in some danger.

Under prodding opperition he

from

to

are

the drastically, and is urging local | below the Korean war level "but

on a much more healthy basis." citel make it governments and industry crystal clear that he had no postpone their new invesiment Exports during the first half of

par sehenues, changes which intention of lowering the

throwing Its possible withouf value of sterilng

from

vertible into gold until inter-

present US$2.80 und no inten-people out of work. tion of making sterling con-

Ten years ago Lord Beveridge shudders through the

of "full

World Cotton hate conditions bad changed. sent

British business work by ad-

Markets

New York, Aust. 17. Narrowly

price irregular

21 slow changes accompanied trade in cotton futures today.

But

iT

general, Mr Butler vancing

the Idea

this year were up 21 per cent over last year's equivalent total,

"The big queslon mark facing the economy is the joint cam÷ palgn of the Catholic and Socialist trade unions for higher wages and a five-day week. At

Canberra, Aug. 17. The British Atomic Energy Authority is wend- ing two technical experia to Australia to examine uranium prospects of "our- rent Interest", the acting Supply Minister, Sir Phillp McBride, announced.

The visit is In conncation with discussions between The two countries ол

Australia's

uranium prospects and disposal of uranlum oxide from Incal SOUTEEM,

the

Minister sald that experts were leaving

Tho

the UK. on September 7 and would Inspect the Mary Kathicen fense in Queensland

the and Alligator River area In the Northern Territory.China Mail Speclad

Singapore

left both the House" and the employment" as a permanent the end of July several kundred Stock Market

pres mystiled about the situa-way of life. The iden was full tion and plans,

the Reading between and recalling his attitudes at various press conferences, how- ver, a rather startling though Untative conclusion Closing prices ruled 5 to

emerges: The market Mr Butler contemplates hoving lower. punts

three opened unchanged to up

"slump of sorts, but one points: New Orleans cipsed up accompanied by "full" employ- one to off onx point..

At present the British public Speculative hiterest switched to the faster-moving commbdi-is consuming too much and ex- tics like rubber,

Cocina, coffe Porting and grains.

ment."

41

for sings Play

agre

co-

miners controlled by Catholie

Singapore, Aug. 18.

1oday quolt/ the

The Netherlands is facing the future

Brokers buffled with a slightly but determined expression. following, stock pricest According to the Amsterdam UP Bureau, Prof. G. Brouwers of the Economic Affairs

Ministry made a report last month which British sets forth the problem.

about the Cabinet's of difficulties in a world com-trade unions were striking."

nitled to the idea

th amount of

and lines ertain

ment" is d 1herefore good for everybody.

with It Ma Butle

Lord Beveridge, he is not saying so out loud. One possible reason is that he needs the full operation of it lot of people whe are far from being sold on Lord Another Beveridge's theory. possible reason is that he may the old- have to fall back on too attle. This

"deftation"

of private style cessive consumption, especially incomes in order to

Jower duruble

goods, increases

Britain looks ahead The New York Cotton Ex-Britain's imports change Service Bureau estimated goods badly needed fer export with rome uneasiness into the the leading Mr Butler is appealing to the of all

middle domestle

distance, consumption

their loons Continental countries seem un Lo reduce raw culton in July at 620,000 banks bales.

with the slow and This compared

concerned moderate progress experienced 541.000 bates used in the same

time last year.

Estimated consumption

the 52 weeks

with

{X-

and diverts ite

for New York Sugar

of the 1954-55

season was 8,889,000 bales com- pared with 8,570,000 bales con- sumed in the preceding 1953-54

season.

Trading volume and open in-

terest

were:

Month October December March Muy

*July

Volume Open laterest, contracts,

25.300 370,400 40,000 TEA GOB 20.500

327,000 31.100 350,100

17.100

1,400 121,000

1600

23,70

Market

Domestic No 6 sugar futures closed unchanged to 4 points higher with sales of 28 con-

tracts.

in 1955.

Rome Report

Italy, alone, according to the Rome Bureau of United Press is arguing over private enter- prises. New York. Aug. 18.

Rome reports: futures "Econonfe circles are won- World No 4 sugar

exactly what role the In the Exchange today closed today unchanged

to 4 dering

Antonlo points lower with sales of 719 nov Premier, Signor

Segni. will leave to private enterprises. His reassurances to businessmen in his speech be- DUSIT

Parliament on July 13 fore have thus far failed to inspire much conviction.

is birendy Slate *The

in various enter- in shureholder Evening-up operations

World nearby September dominated prises which, following the irade

I. world futures. War tumbled more or less to into bankrupcy and had to be posted Prizes of futures closed today Intentions

through against September deliver

government rescued

These

varlous in- advances. contracts,

dustries

eventually or were ganised into an institute

reconstruction (IRL) industrial which is linked with the con- federation of Industrialists, private enterprise set-up.

1490,000 2,855,300 kalex

October

December

Total

NEW YORK

na follow-

Spol

October

December

March

May

July

October

December

34.000

33.30 3.18 23.154 33.37

32,311

NEW ORLEANS

Pricts of futures closed today

as fellows

Spul

Octuber

December

March

Jule

December

May

October

113

were

Most of the activity in the domestle contract also centred in September with 04 con- tracts posted against business in actual transaction. Futures:

Contract No. 4 (world)

1

Gopt.

Nov.

3.21 3,20

Mar.

3.21

May

3.21

$23.00

Juty

3.21

Spot-teenis per 1. fob

33.80

Cuba)

3.20

33.70

Contract No. û

32.30

32.2

Sept.

-5.31.07

Nov.

5.01

Mar.

6.38

May

0.40

Collon

cruzchvs

futures pur

klo

closings, were

Spot-(vents per 1b, cif

NY ex-duty)·

G.00

ሀና

United Prosa.

follows:

Oel.

35.30

Dec.

70.00

Mar

33.60

May

34.70

the

SAO PAULO

In the United States, average price of middling cotton at ten designated spot markets was 33.01 cents...Sules at these centies totalled 18.065 baics.

KARACHI

LONDON. METAL

PRICES

London, Aug. 17,

a

"One of the moves which causes alarm in business circles is the proposal to create a new would detach ministry which

and

the IRI from the confederation lake over the sole super- vision of these semi-government cwned Industries.

0

"This would give the Govern- ment effective controls over larger share of heavy industry than any other European

BOV- ernment has."

Quesaing Batu Lintang Rubber........ $1.00

Borneo Petroleum Synd Consolidated Tin Smelters... Fraser, & Neave Ord. ...m Frazer & Neave 7% pref... Hongkong & Shanghai Bank

longkong Tin Rumpus

Lunas fubber Estates

Malayan Breweries

Petaling Tin

The Netherlands cannot stand still, Prof. Brouwers said, be- cause its population is increasing by 100,000 annually and useful employment must be found for the increase. Says Amsterdam:

Is The Netherlands problem apparently how to increase the New Scrandah Rubber total production of goods and Raffles Hotel services within the next 15 years singapore Cold Storage by some 13,000,000,000 guilders South Brillih Insurance (zbout US$3,500,000,000). This Stralls Trading

fali upon industry for Strata Steamship will

United Engineeri agriculture can hardly be step-wearne Bras ped up further. United Press.

And Wheat

HONGKONG Policy Is Needed

STOCK EXCHANGE

(From Our Correspondent)

Business on the Hongkong Stock Exchange this morning

amounted 10 $800,000. Noon rates and the morning's transac

tions:-

By Sydney Gampell

London, Aug. 16.

The new United States cotton export policy means that the artificially held export price will be undersold by 1,000,000 bales of low quality United States cotton (plus any additional quantity that may be surreptitiously sold on the ground or pretext of going out of condition) as well as by all the American type cotton grown elsewhere, all the United States cotton dumped by various forms of "aid” and by the additional output of 10 1740 synthetics stimulated by the artificial-cotton

price.

SHARES BUYERS NELLERS BALES

GOVT. LOANS

3155 (1948)..

DANKS

BK Bank...

INSURANCES

UBlog

מן

1745

43

1023

10.40

Waterboat... 22.00

Lombard Underwriters

SHIPPING ·

DOCKS, ETC.

K. Whort ... k Dock

*** 27.30 Provident (0) 15.69 Wheclock ... 0.00

LAND, ETC.

II Hotel Hic Land Really

10.30 19.70

7216

...... 2.30

UTILITIES

Tron

..... 24.40

Star Ferry XD 145 Y'mati Ferry 117

C. Light (0) 22.80

30000 1215

64 1760

The latter still holds as the pivot of world cotton prices as world importers still have to pay it in the last resort. It is being eroded as the [email protected] supplies which are bought (as distinct from donated) at it are marginal and shrinking. It might hold until the Presidential election in Nóvember 1956.

0 1000 69 8.70 1000 9 1.78 2000 8.80 1000 or 8.83

1300 8.00

73 500 6.73

1:0

C. Light (N) 17.60 Electric

41% 424

27125 or 2.278Lain

2500 ga 24.30

Meanwhile it helps to main in the past year disposed of its the American, and world butter and cotton oil surpluses business boom: total form

by slaughtering their price: for Income is following but

the butter it got one-tenth what it had pald; on the cotton oil it lost an average of soven and a half cents a pound.

600 de 24.40 income per farmer holds up as 1000 24.50 the number of farmers is also

falling.

150 m 117 DO (70 117 2000 22.00 103 22.00 4200 (223

300 or $7.00 500 of 4112 1500 60 43

500 (0 12.23 Macna Elea. 11.30 11.70 Telephone... 3291 3344 3500 33

646 3295 500 33

The "notice" that the United States Intends to compete more

there.

of

It accepted these losses to

aggressively in cotton exporta move the surpluses only because may incline other exporters to it satisfied itself that it had clear out all possible surpluses found additional outlets without to take advantage of the United disrupting normal world trade, States shelter while it is stillIts cotton might eventually find on outlet na "ald” to Russia and other Communist countries. Some Shelter

Stranger things have happen- Something depends on how ed. But present cotton and such countries 14 Brazil and wheat support policy is obvious

must be bankrupt and Pakistan tackle their internally inflations which, in turn, give replaced by something saber the United States some shelter. after November 1850 though not before. --- China Other countries will recall how probably the United States Government Mail Special,

40/0

30/3d

$1.07

$0.50

INDUSTRIALS

Cement

$023

1000

..... 334% 34!1⁄2 500 / 33.75 2000 33.50 1000 33.74

↑

1.70

500 4 34

STORES, ETC.

$2.25

Dairy

$3,35

Watsen.

22.40 22.00 500 EN 22.70

15.00

$1,70

$4.00

COTTONЯ

$2.35 $1.67

Textile Corp 0.30 5.00 Nanyang

8.70

$23 $13

$37.00 MISCELLANEOUS

Yangiaz

$2.72

Allied

-China” Mail“ Special.

A. Rubber 23135

100 2.15 Itubber Trust 3.05 335 9070 kr 3.10

7.00

....... 6.03 5.75

New York Stock World Rubber

Market Prices

New York, Aug, 17.

Markets

Singapore, Aug. 17. The market was steadier on

advices Overscan

in the afternoon

Stock market traders, tired of recent dullness, better turned the spotlight on long-neglected rails late eased today and this lifted the tone of the whole market. further liquidation.

but on

Future closings were: No. 1 rubber per ib. Sept. 1371-1328 Oct. 1881-137

EVERETT

LINES

EVERETT ORIENT

LINE

Fart Regular Freight Refrigerator Pamonger Servicn Loading for singapore, Penang, Rangoon, Calcutta and Chittagong.

*

Arr: Eept. 11

Salle Sept. 12

--- Oct,

-,/- Oct.

3

-Oct.

- Oct,

15 26

15 Oct.

- Oct.

・

Arr. Sept. 4

5 Balls Sept. -Sept, 15 Sept. 16 -- Sept. 28 -Bapt. 29 -- Sept. E

Loading for Kobe, Onks, Nagoya, YokokaNLA

"NOBKVERETT

**REDEVERETT"

"NOREVERETT"

"BRADEVERETT"

21

Commonwealth Elec. Consolidated Edison Continental Oil of Del.

4434

"LENEVERETT"

67

43

Continental Sleei

301

Cuban Amer. Sugur

TEK

Spat rubber unbaled...

No. 3 rubber her th. Sept. 13-15415 No. 344 No.

123-124

12015-130

Curtis Wright.

222

Blanket preso

Dininond Alkali

40

No. 1 pale crepe

1301-137 10215-10315 137-145

Dow Chemicals

B146

Dupont de Nemours (xu.) Eastman Kodak

21895

5012

They bit rail prices up point or more in many instinces ICAVIDE

them ncar

a pont Santa Fe, higher on average. Baltimore & Ohio, Kansas City Central Southern, New York ond Union Pacifle rose a point to two points.

The enthusiasm carried over into industrials but only Богде

losses prevented

Crane Co..

E Faso National Gas twoje atirond that up from closing higher on

overage.

American Telephone, off 1 points on details of its new Jersey $638,000,000 financing, Standart, down a point, und Allied Chemical, off 4, weighed on the average.

Bethlehem Steel, on the other hand, ran up several points.

issues traded, Of the 4,321 however, there were 459 lower while only 398 closed higher.

Trading continued at a slow pace atthough volume pleked Turnover up on the upturn reports for the session totalled 1,670,000 shares compared with 1,520,000 yesterday.

Bonn Report

"the in

be-

an

General Foods

Hayden Chemical

Inland. Steel Co.

John-Manville Co. Kennecott Copper tiggett Moyers Tob. Co. Lockheed Airerast Loows Incorp.

Lone Star Cement Co. Louwvale & Nashville. H. Lowensles & Sons.

Megabt Iron Carp,

Minnesota Mining

NEW YORK

Futures closed today 20 points

22% higher to 30 points lower with

sales of 677 contracts.

Erratic action was coupled with arbitrage operations against the London market and adjust- mente of speculative accounts following the recent sharp rise.

Mar

LONDON

at 39% pence. Prices;

42.60

"BRADEVENETT"

"LENEVERETT" "AĘBEVERETT"

LIMITED PASSENGER ACCOMMODATION All the above subject to aïtåration without paties.

EVERETT STAR LINE

FAST REGULAR FREIGHT REFRIGERATOR SERVICE

"

Loading for- Singapère,

Port Swettenham,

Colombo, Bahay, Karachi & Persian Gulf Ports.

It Port Leading

Arr. Sept. 9

-

Sept. 7

- Det.

14

-- Nov. 11

Loading for Kobe, Osaka, Nagoya,

Art, Sept.

-- Sept. 19

-- Oct.

30

-- Nov, 1

- Nov, 20

Salle Aug. 19 -Bept. 10

**** Bept. :-

- Oct. 15

Nov. 13

Yokohama

Salis Sept.

- Sept. 20

* Oct. 20

-Nov

***** Nov,****27

LIMITED PASSENGER ACCOMMODATION

Family Finance Corp.

2315

General Electric

General Motors Gen. Pub. Vill. Gilletta Safety Razor Goodrich (B. F.) ca. Goodyear Tiro.

225

381

Interchemical Corp. Int'l Bainers Machines Int'l Harvester International Nickel (xd) International Paper Int'l Tel & Tel

484%

405

30%

10014

The spot market ruled dull with factory Interest reported practically nil. Spot No. 1 Rss were quoted at 46% cents pound. Futures:

*STAR BETELORUSE”

Д

*STAR AKCTURUS"

"THAI"

"STAB ALCYONE”

12014

Rept.

40.00

"LAG"

072

453/

Dec.

May

July

41.70

"THAI"

Sept

40.00

"ETAR ALCYONE"

"STAR BETELGEUSE"

The market was uncertain to- day; spot closed a shade easier

"STAR ARCTURUS",

No. 1 Res spat

2015-30%

Settlement house term:

Exchange

National Bleel Corp. New York Central Olin Mathiodon Olts Elevator

07

Sept.

39-3934

401

Oct.

0735

Oct/Dec.

302-30-14 38-7814

110

Apr/June

Pacific Ga

BI

Pacifle Western Oil

40%

w

14.10 Feas, Salt Co.

Pan Amerionn Airways $62.00 Paramount Picture

101

Oct.

403%

£5.44} p 15 Morr

163.50 | Philiper Petroleum

58.93 Brugter & Gamble Ca 151.02 | Pubilcker Industries

10394

Para Ollage

23

Hadlo Corporalion

100

Republin Steel...

3954

Reynolds Metal

tola

smell on Co....

-243

Saint Rex. PADET

Sinclair Oli

50

BB

20%

Rocony Vacuum

02

101

National Distillers

Hoggman Machinery followed Miton Development Curtis-Wright in the netive Monsanto Chemical Co. list. It rose sharply in early Motorola Ir

Montgomery Ward

dealings ON

increased National Cam Rog. “A” dividend announcement but National Datry Food. finished more than a point lower National Lead on proДt-taking.

Stock New York bond volume was $2,440,000.

American Stock Exchange Online Glass

The Bonn Bureau West German experts are

that the production in loved crense has slowed down, though it is still edging upwards. This removes the much-feared danger of the German Ing "over-heated my becom "Chief anxiety," Benn reports, appreaching bottleneck The Un market was steady cool production. Like Great

has had while other metal markets were Britain, Germany quiet. Prices closed today in swift expansion of industry with sterling per long ton as follows! which coal production was un- sellenable to keep abreast. There are and no coal stocks available 757 702 German consumers are literally 300

living off each day's production."

The Transport Ministry is try-in bonds ing to persuade coal producers take adequate steps to pro- vide the railways with coat for their autumn traffle peak. Other consumers will have to bolster their supplies by buying from the United States.

The market was errotic and governed by conflicting rumours about export duty announce Tin, spot ment. Prices closed today in rupees per mound as follows:

4. Sind roller-ginned ......................... 200-FNT Sind roller-ginned

saw-gizined

buyers

100

म

05/0

9070

Zinc Zine

3+monfli Copper, Apol

3-month Louts 2nd Lead 2nd hal Nov, 2nd half AUR. 2nd

Nov, half

100

2054

to

BOY

jot

-United Press.

United Press,

280-ENT Punjab roller-ginned

saw-ginned

London Foreign Exchange

New York Montrend Amsterdam

Copenhogona Tabon

PATIE

nkfurt

London, Aug, 17,

2.7834-278-11/19

1080)

NEW YORK METAL

FUTURES

According to the Paris UP Bureau, the boom in France is continuing almost monotonously,

"Well into the second half of 1055 the steel industry will show, Paris "production," mpunting New York, Aug, 17

wired. "So will motor

cars Prices of nietal futures' closed today in cents per lb, as follows: while the stock exchange shows 98.25 no foverish signs but a general. 38.28 healthy bullichnom,

Lead". August

Haplomber 1:1/10 地 Adiet

September Zine - Aŭgustyna September

(80-11,003, Visited Prost

Copper Aurunt,

Beptember

Brussels Report

|

volume was 540,000 shares. Dow-Jones closing average 30 industrial 20 rail 15 utilities

stocks Comm. fudure price mdox.... CLOSING PRICES Alden Inc. Acy.

Allied Chemicals

Allied Milis Ino,

Allis Chalmers. Americon Airilno

American Cyanamide Co. Am. Mach. dry. American Molat American Bolling American & Tol

HolowingArnau Baltimore & Olio Bendix Aviation, Corp. Bethlehem Stool:.. Boeing Airplane

Burroughs_Ada idachina Norden (The) Co Canadian Pačitle: Camo L.) Co.

Everwm Corp.,

Brussels ARVE Belgium's Chile Copper economy is riding along 4" Uite

Chrysler Motor

Bouth Porto Rico Sukar Southern National Gas Southern filiway (Com.) Biandard Brandsi

Standard Oil of N..

Btudebaker-Packard Corn.

61% Tide Water Amin...:0}). 41 Tweaky Century Fox Fim 14416 Union Carbide

Big Funlad Aleeratt:

112.B. GypoUTT Fiks. Une Co. 1916 1,8% Kubber (384 | 120), Bowling

08k West VAR PAID 84% Woolw

Jan/Mar.

General markets, cit basis, ports: Sept.

Estate crepa thick and

thin

AMSTERDAM

39-39%2

-384-30

unquoted

The market was quiet. Prices 44closed today in guilders per

kilogram, clf Sept. as follows:

No. 1 rubber

No,, 'rubber

No, & rubber

No. 1 crepe

3.80 buyers

3.50; buyers 2.30, buyer

-Unjibd Pron.

change Rates

All the shove subject to alteration without notice.

EVERETT STEAMSHIP CORPORATION S/A

. (Incorporated in the Republic of

Panama with, Limited, Liability) + Chinese Department: Telephone 28293. Queen's. Buliding, Telephone - 31206.

MESSAGERIES

MARITIMES

[P.O. Box 33 Queen

FAST PASSENGER/FREIGHT SERVICE..........

""LAOS" Bukihow was done in the local "VIETNAM" 781% unomes Texöhange market

morning at the following rates

U.B. dollar Iver 31).

Barling notes (pe, dis Australian notes:(per ()}}BRIE Indonerian rupiah (per 100)””, Bam Lions (per 100)

Bingapore (Balta) mao-Cisna '-plastros (per 100)

thi

"DGNAI" "MEINAMA.

Bailing Bept, 10th

sailing Det. 8th

ERVICE

salling Aug. 19th: sailing Sept. 21st