TRADE
THE CHINA MAIL, THURSDAY, AUGUST 25, 1955.
and
COMMERCE SECTION
JAPANESE TEXTILE IMPORT QUOTAS
Swiss Watch Industry
EXPORT SALES
INCREASE
on
Zurich, Aug. 24. The dark cloud hanging over the Swiss watch in- dustry since the United' States increased tariffs Imported watches now ap- pears to have a silver lining. parts More watches, watch and watch accessories were exported by Switzerland during the Arst half of 1955 than during the corresponding perind of 1954 aceorling to the latest statisties.
flest
The increaIDE over the
THE six months of 1934 was 3 per cent or 13,770,000 frames bring ing the total value of exports of this 'major branch of Swiss economy 117
471.004,627 franes for the first two quarters of the year.
LIBERAL POLICY
Turkish Orders For Jap Yards
The
London, Aur. 24.
Turkish Marlime Bank has placed ordery in Japanese shipbuilding yards for five passenger vesseln and one tanker, Ankars radio reported tonight.
to
The passenger vessels, to be built by the Uraga Shipbuilding Yards, will
have tonnages varying from 3.500 to 5,500 tons each. The tanker will have a tonnage of 21.300,
Japancas shipbuilding yards
already
launched three
Vessels, previously ordered by the Turkish Maritime Bank—Heuter,
London
Stock
Market
American Industry Wants
Introduction To
Safeguard Home Products
New York, Aug. 24.
The Daily News Record, textile trade daily, yesterday published a letter from an American textile executive urging Congress to set quotas on Japanese textile imports.
In a letter to the American Cotton Manufacturers Institute in Washington, Mr Donald Comer, Chairman of the Executive Committee of Avondal Mills, Sylacauga, Alabama, said the American textile industry should have two objectives. They were:
New York Sugar Market
London, Aug. 24, The stock market bounced
lustily back
today.
thonks largely to professional covering and a realisation that public
New York, Aug. 24. selling had unexpectedly dried
World No. 4 sugar futures up.
British Governments, paced by closed today unchanged to
elimbed by as points higher with sales of 114 undated issues, much as £%. Industrials contracts. showed solid gains, with elec- Domestic No. 6 sugar futures point to 1 tronics shares pacing the rise, closed unchanged Associated Electric chalked up higher with no sales reported.
between guin,
operating Routine Rolls, a three-shilling
Courtaulds, Royce.
Unilever, trade interests featured the small and Ford Motors were up two unde in world contract futures, shillings or more.
Olls
strong, us Royal Contract No. 4 (world) were Dutch, British Petroleum, and S. Burah all closed five shillings Mar. higher. Increases In copper May Switzerland in the Netherlands.shares were spotlighted by Rio de Denmark, and Austria.
Tinto, which jumped more than Spot-teenta per lb. fob Cuba) 322 main competitor In these three
four shillings.
Contract No. 6 countries was Germany.
Nov. Exports to Denmark dropped by 1,070,340 francs, up 2,535,- 430 franes when
This, say persons closely con- neeted with the watch industry, way to a great extent due to a nore liberal polley on imports followed by a number of coun- tries,
war
on
Competition by other coun- tron
stim certain markets and was most felt by
The
compare with
the same period of 1954, in the Netherlands the drop was only 281,052 Francs with the tolal
new
being! 5,107,415 frames experts to Austria in- by 748,345 franes and totalled 3,300,80 francs, Also down by 000,001 frunes were the exports to Italy, that only made purchases totalling 088,013 froncs,
AS A WHOLE
28,-
exports to European countries
Sept.
German Potash bonds showed £3 gain. The Berlin Loan
Mar.
May
was up
"First-get сиг fetends and-or take this tariff making
our
In Congress to write the Prest-out of his hands and do the job dent and remind him of his themselves, It has been done promise to Congress and to in- before. dividual members of Congress
• "Second-to get the Jap- .that unless suggesting textile industry is given pro anese to realise that the Ameri tection provided for by the can textile industry is not going Senate amendments, that when to sit down and allow our home Congress meets in January the market to be invaded in a way first order of business will be as to not only disturb our pro- to establish protective quotnsduction programme but
World Cotton
Markets
price structure.
Our
|Steel Pipe Plant For Canada
Toronto, Aug. 24.
A steel-pipe manufac turing piani with an initiat Investment of $3,000,000 Wild be established 48 Regina, Saskatchewan, within the next few montha by the Hoesch Co., of West Germany, it was announced today.
Jolat announcement by Saskatchewan - Fremier T. C. Deturias and Hoesch re- presentativo G. W. Ander- son of Dortmund, Germany said construction of the huge plant
was expected to get under way this` KULUT, with operations likely to start in the spring of 1956.
It will be the first plant of its kind on the Canadian prairies and
Arkt in Horsch production unit catablished
outside
plant, with 50,000
many.
****The
Ger-
square feet of floor space,
wilf
红
Docupy s 160-More site Regina's northeastern
outskirts.--United Press.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent).
"I am a little concerned for fear that our need for an im- mediate quota against Japanese imports has been confused by our request. Also that if and when cotton is sold across the 10 occan at a lower price than American spinners that we should be protected also because of that differential by a quoto. What we need is a quole right now and, of
competitor is
course, if our given than we buy cheaper cotton Contract
between that will require a broadening BANKS swapping trade interests, in the process of of the quota, United Press, consolidating market positions, furnished the main activity,
New York, Aug. 24. Cotton prices today showed an overtone of steadiness as the market see-sawed in quiet deal-foreign 6.82 ings.
5.36
5.40
6.52
-United Press.
£4%, and Japanese potents per ib. clf bends also showed strength.-HY ex-duty) United Press.
New York Stock
Market Prices
New York, Aug. 24.
Seen as a whole, however. Stocks made further upward progress today with a total value of 147,907,-despite some late profit-taking which shaved 547 francs. were higher
early gains.
15,402,503 francs.
by
On the American creased sales to various South American Bolivia,
At the
close the Jt ruled
8 points lower to 18 points higher. The market opened up 4 to off 6 points, New Orleans closed up 12 to 17 points.
New business continued to be held in abeyance while traders awaited crop developments and a clearer picture of the export oul. tho look for raw cotton and chances for new price support legislation when Congress reconvenes.
World Rubber
Markets
and
Singapore, Aug. 24. The rubber markit was fairly active but business was mostly switching buying futures selling nearby months.
Future closings were: No. 1 rubber per fb.
Sept. Det. Nov.
14114-34144 14114-142 unquoted
107-108
Page
ALUMINIUM SCRAP EXPORTS
Limit Last Quarter
To 1,500 Tons
Washington, Aug. 24.
An industry advisory committee has recom- mended to the Government that aluminium scrap exports in the fourth quarter of 1955 be limited |to 1,500 tons, it was announced yesterday.
Chicago Grain Market
CX-
Aluminium has been in short supply in the US for many months despite large-scale pansion of production facilities, The Government recently leased suppiles from its stock- pile requirements to try to re- Beve the situation.
Chicago, Aug, 24. Grains were irregularly lower in an erratic session of the
The commitico also recom Board of trade today.
mended that
export licences After
a steady start, prices should be limited to 00 days were depressed by
scattered and that they should automatic- selling and hedging until short ally be declared null and vold covering moved in to give sup- after the end of the quarter
port. The trend again stipped issued.
tower late in the period.
FOURTH QUARTER
The Businesa and Defenco
Exported also were a small tmount of US con to the Unlied Kingdom and the Continent, and Japan bought a moderate Services Administration saki the amount of US barley, Canadian commiter urged that no call for be made in the Australian wheat aluminium wheat and
fourth quarter for stockpiling. overnight.
Wheat
Export closed off % to 1%
of aluminium
scrap cents; soybeans (now) oft do was restricted to 0,000 tons the 1⁄4 cents.
second quarter of this year and 5,000 tons in the third period. The Business and Defence Ser- vices Administration sa33 that in neither quarter did exports exceed the limits.
CINICAGO PRICES Prices per bushel in cents: Whent No. 2, red
Closing prices 193 1024
in
The Government is currently 1971 for soliciting Industry views
order to establish fourth quarter export quotas.-United Press.
LONDON SILVER
Spot
Sept. 1941) 152}(L)"
Dec.
10-14
Mar.
May
10274-16
July
170
Corn, No. 2, yellow
Spot
128
Sept.
Nov.
Business
Mur. done on the Hong- kong Slock Exchange morning amounted
$940,000 Noon quotations and the morn Ing's transactions:
thuis
May
Rye
Sept.
Nov,
Qais
SHARES BUYERS BELLENS BALES
Sept.
Nov.
611⁄4
HK Bank
. 1735
Soybeans, No. 2, yellow Spot 12 1730 Sept.
2331 5124
68 1724
Nov.
10 G 1730
Jan.
01739 Mar.
May
Harley,
41. 2010
spat
50%
New York fleur
10.20
United
INSURANCES
Union
***... 1000 Lombard Underwriters
DOCKS, ETC,'
X. Wharf Dock
L
7312
20.30 Provident (0) 15.80 ** 10 Wheelock 9.30 0.70
LAND, ETC.
HK Hotel
Routine domestic mill and shipper buying plus October covering, steadied the nearby months, March and May dragged under the weight of liquidation No. 2 rubber per lb. Sept. 137-13044
HK Land Humphreys [N) sellers of the No. rubber per lb. Sept. 128-129 and hedge selling. Spot interests No rubber per 16. Sept. 135-15315
Spot rubber unbaled 14 14014-14076
Realty early 1950 deliveries against pure Batket Drape
141-1426 RUBBER of the far forwardi No. 1, pale crepe months.
NEW YORK kdiscount of a cent or more } › The d
oi neyr
Futures today closed 20 points 2 pound
October and December in relation to the higher to 6 points lower with UTILITIES
some salos of 230 contracts. nearby months attracted 0314
that buying investment 225
781% sector, traders said.
side, in- The market advance, resumed in abrupt chance
were accredited countries among them of pace late yesterday carried leading stocks up 4 Chile, Argentina, points on average at the highs today and boosted and to Canedo were more than
offset
turnover to 2,140,000 shares, best in two weeks, chases by trop in exports lo United States,
Mexico, compared with 1,890,000 shares yesterday. Brazil, Colombia and Venezuela.
Total experts to North and Lenders held enough of their Curtly Wright South America therefore drop-early advances to lift the in- Dirmond. Alkali pod by 11,790,395 francs (US$2,- | dustrial 754,228) la 188,590,070 francs rails 0.12 and utilities 0.08 on (US$44,050,744).--United Press. the day.
the
Rhodesian Loan Fully Subscribed
average
2.04
Dow Chemicala points, Dupont de Nemours
Steel
shares stood out with galas
to 2 points in of close Bethlehem and Armco.
Du Pont was
of the strongest performers with a rise for the day of 44 points.
Anaconda continued
one
strong
Eastman Kodak ................ El Paso National Cas Erle Railroad Family Finance Corp. Generic Blectric General Food General Motors Gen. Pub. Uu. Gilette Safety Razor Glidden Co. Goodrich (B, F. Ca. Goodyear Tire... ......
Komatake Mining Co. Ingersoll-Rand
in the non-ferrous metals, Hegden Chemical climbing more than a point on top of yesterday's rise of almost
High-priced
$5. Salisbury, Aug. 24. The Rhodesina Federal Trea-inctals gained more than $4.
local loan of £7,000,000 Rails has been fully subscribed, it has fractions been announced here.
sury
wero
קנ
mostly
Telephone American tinued to feature as the most active issue,
2314 41
40
231
si
na
12:0
373
in
Other dealers awalled publice tion of the weekly loan figures after the close from which they hoped to gain a hint on what producer marketing policy 299 may be as harvesting operations 404 begin to expand.
1:0
the
Trading volumes and open in- In the Exchange today
terests
37 were:
December
૯૬૬૭==
יו
200 lb, sack
EVERETT
9.00
19.30
600 7316
20.70 2.30 235
A. Rubbor 2.15 2.1715 20,000 @2.17% 2000 3.14 ......3.1215
Trust
Speculative Interests operated on both sides of the market, with the recent advance being of blanketed by the offering "fair quantifies of shipment rubber overnight at "reasonable
and Indo prices" from Slam nesia.
Dealer buying of the ship-
was hedged ment rubber
Factory the terminal market. buying interest remained slow STORES, ETC. in both spots and futures. Spol No. 1 Ras were quoted at 48% cents a pound, nort.
8.50
22134-222
22071-220 22014-15
120-140m
13,20 Press..
PRICES
London, Aug. 24. The price of silver was quoted today at 76% pence for spot nad 78% for forward, (against 70 and 79% pence previously). -United Press.
BANK DIVIDEND
The Board of Directors of the Mercantile Bank have recom- mended the payment of an interim' dividend of 7 per cent, less tax, payable September 27.
LINES
瓶
EVERETT ORIENT LINE
Fast Regular Freight Refrigerator Passenger Service
Loading for Singapore, Penang, Rangoon, Calcutta and ' Chittagong.
"REBEVENETT""
Arr. Sept. 11
***** Oct.
3
* Oct.
14
Salls Sept. 12.
-,- Oct.
15
- Oct.
Oct. 29 - Oct. 30
Loading for Kobe, Osaka, Nagoya, Yokohama
on
Tram
24.80 23.10 1130 @ 21.00
148 Star Ferry XD Yaumati Ferry 118 120 100 e 110 C. Light (0) 12.00 23 1600 B 23
500 22.00 C. Light (N) 17,50 18 1000 60 17.30 Flextric XD, 10% 270068 411
22800 * 41 Macao Eleo. 11 11.00 Telephone
..33% 33% 4300 3335
INDUSTRIALS
Cement Hope
"NODEVEREXT"
"BRADEVERETT"
"LENEVERETT"
*NOREVERETT"
"DNADEVERETT"
"LENEVERETT” "REBEVERETT,"
.... 333 33% 1000 33%
10.00
77
Inland Steel Co
501%
Reynolds
Interchemical Corp.
Month October
volume Open interest
20,100
$32.000
0276
24,700
787,800
Int Business Machines
409
Int'l Harvester
50%
March Muv
8.600
341,500
Dalry
Watson
23 23.10 1000 @ 23.10 500 18.00
77 13.10
0,100
375,800
Future closings were:
Infernational Nickel
July
0,300
197,300
Sept.
4745
International Paper
100%
October
4,000
159,300
Des.
L. Crawford 40.45-50 COTTONS
37
con-
Int'l Tel & Tel
John-Manville Co.
2012 04
December
700
23,000
Mar.
45.15
Total
10,200 2,109,000 bales
MAY
43.00
Kennecott Copper
12416
July
42.50
0711
NEW YORK
Sept.
4140
23
LONDON
0014
70 20
as follows:
Spot
34.5511
Mesala Iron Corp,
4796
Oct.
Exchange Minnesota Mining
102
Dec.
Exchange
Miation Development Monsanto Chemical Co. Montgomery Ward
2014
Mar
May
33.84 23.75 33.2.41 No, 33.7
July
Qcf.
OL Nov.
The market was steady with spot quoted at 4171⁄2 ponce per lb. Prices:
Han spoč
4392-42 Settlement haus term:
416-4131
Motorola Inc.
avernges
National Cash Rest,
Dee.
Dec.
Oct/Ded.
30-3
Jan/Ber
National Distillers
30 Industrialn
460.39
20 rella ...
157.37
73 utilities
68.10
0 Blocks
100.It
Bpot
387
Owen-linols Glass
Oct.
Comm, future rice index 157 1
Pacific Gas & Flee.
Dec.
Palfic Weaters Of
4SEK
Mar.
Pan American Airways
10
May
Paramount Pictures
40
July
Parke Davis Co.
4014
#251%
114
Pann. Salt Co
Penny J. C. Co,.
DO
Doa
35
Philip Morris
72
Philips Petroleum,
201
39 Pittsburgh Plate Ülás
243% Procter & Gamble Co.
The greater part of the ban Lunds will be used for the Federal Government's own dove- lopment programme and the rest will be re-lent to the govern→ ments of Northern and Southern there were Rhodesia and Nyasaland. The lower, loan was underwritten by a
Curtis Wright, Liggett Mayers Tod. Co. U.S. Steel, Sperry and Anaconda | Lockheed „Aircraft
Loews Incorp. an followed in order.
a total 1,157 issues traded, Lone Star Cement Co.
Louisville Nashville R. 509 higher, 327 Lowenstein & Sons.
New York Stock
Stock American
sortium of finance houses con- bond volume was $5,800,000, sisting of the Atrican Finance; Corporation Limited, Rhodesian volume was 510,000 shares. Anglo-American Limited and Dow Jones closing Philip Hill, Higginson and Com- were:
pany Special.
Limited China
LONDON METAL
The tin with
PRICES
London, Aug. 24.
40 bonds ****
Closing Prices
Alden Ine, Acy,
market was steady | Allied Chemicals
a turnover- of 30 tons.
Copper was very firm while zinic and lead were also very steady. Prices closed today in sterling per long ton as follows:
Allied Mills Ind. Allis Chalmers –
American Airline
American Cyanamide Co. Am. Mach. & F dry. Americon Maint American Gelung Am. Sugar Raf. American Tel & To American Tob. "
buyers sellers
780
761
745
700
Anaconda Copper
Armoo Steel
3:00
ดนต
SPDI
2 math
Copper spot
3-month
Lead and hall Aug.
107
Nov.
100
Zine 2nd half Aug,
Nov,
00-4/0 6042 United Press,
80
Nailonal Dairy Prod.
National Lead
National Steel Corp. New York Cesitral Olin Mathieson
27 Publieker Indusrios
37% Pure Oy
Radio Corporatio
Republic steel
03
DO
Reo Moto E
170
74
Raynolds Metal
772
Bhoil Oil Co.
Prices of futures closed today
HTHAI“.
Arr. Sept.
4
-is Oct.
Solls Sept. Sept, 10 -- Sept. 27
0
1
--- Oct. -- Oct.
3
*. Bept.
Oct. 14
* Oct.
Nov. 14
10 -- Nov. 12
Nov, 20.
NEW ORLEANS
Prices of futures closed today Sept. as followes
LIVERPOOL
Futures elosirigy; American
middling, in pence per lb. were
us follows:
QSL/Nov.
Mar/Apr.
Nanyand
MISCELLANEOUS
Yangtze 8.00 8.20 3003 m 8.89
Singapore
Stock Market
Ape/June
General markets, cit, basla, port
Singapore,, Aug, 25. 42418 Brokers today quoted the unquoted following stock prices: 411% Estate crepe thin Sept..
-United Prod.
London Foreign
Exchange
New York
London, Aug. 20
Batu Lintáng Rubber Co. Ltd British Borneo Petrolejani
Syndicate
Smelter Ded. AN Fraser de Neave Ltd, Ord... Frar & Neave Ltd.
ing Corp.
Hongkong #141 Ltd." Kampen)Ltd.
Laurie Rubber Emates Ltd,
2.7833-290137) Milyen Breweries an 3343/16 | New. Berandah
10.3030-10.891 138.93-130.00 2034–103436 80.00-80.15 978-9781
Petaling din kid.
Rubber Cr
Raffles Hodei traja
| Singapore Colà kiaragr
2 - Oct. LIMITED PASSENGER ACCOMMODATION All the above subject to alteration without notice.
EVERETT STAR LINE
FAST REGULAR FREIGHT REFRIGERATOR SERVICE
Loading for Singapore, Part Swattenham, Colombo, Bombay, Karachi & Persian Gulf Ports.
"STAR ARCTURUS"
"THAI"
"STAR ALCYONE"
"STAR DETELGEUSE"
Arr. Sept. 8 Sails. Sept.
-Nov, 20
→ Bapt. 28
Loading for Kobe, Omka, Nazuya, Yokobaria
"STAR ALCYONE" "LAOH
Art, Sept. 4. Salle Bept, a
-Bept, 21 -
Sept. 24 - Oct, 20 Oct. 19 Nov. 3 -- Nov.. -Nov, 20 Nov. 27 LIMITED PASSENGER ACCOMMODATION
"STAR DETELGEUSE" -- "STAR ARCTURUS".
All the above' subject to alteration wilkous notice.
EVERETT STEAMSHIP CORPORATION S/A
(Incorporated in the Republic of 2. Pandms with Limited Liabill(y) Chinese Department: Telephone 28293. Queen's Building, Telephone 31206,
Dec/Jan.
May/June
July/Aug.
$1.60
Oct. Nov,
33.Ar
33.75
23.01
33.47 22.07-93
30.71
28.81
21.47
26.18
Montreal Abafardagi Brutis...
Copenhagen,
Lisbon
Stookholm
penedfart Zurich
tick
Comotiated
43/-
1735% cum: pref Itongton & Ebanghai Bank-
29/0 $1.07
$4.50
| @triéts
価
MESSAGERIES MARITIMES
United Busmeers Ord.
Othery Were unchanged. -- United | Wasfne Bros, Prem
Mail Special
PO Box 33
FAST PASSENGER/
VICE line Sept. 10th Oct 8th
York Foreign Exchange Rates "LAOS"
107's Armour.
100) Baldwin-Lim-Tom.
Umitimore & Ohio .............
Bendix Aviation Corp. Denguet Cons
Bethlehem Btoel
Boek Altplan
NEW YORK METAL Borden (The) Co
FUTURES
Now York, Aug. 24.
Butrovata Add Maching Canadian Pacide R Camo 1.7 Co
č. 1.7. Financial Corp
Cal Tractor Celanese: Carp
Prices of metal futures closed Chase Manhas, Dani,
today as follows (In cents per Chrysle? Motors
{,,་ Colgate-Palmolive Co.
14.00b Commercial Credit
Commonwasiin jec.
B.000 Consolidated 2dlsbes -
16.
08.00%
„pu of Dela
Chrn- Producte. Crane:
Bains Reg. Pacer
Tat Sinclair On
10
Doporry Vacuum
South Porto Rico PuƏR
Bouthern National. Cas Southern Tidl}wky Standard Braida Aandard off of Cal
Standard Oil of Ind
Standard Oilot N.J.
Stokely Van - Camp,
Studebaker-Packard
484 Awift RE COM 81% Tide Water Am
41
Twenty Century Fox¢ ̈#ile
KUL Union Certido
Union Pamno a
United Airer
1. 8. Line
BAO PADLO
Futures closings, in cruzeiros Paris
per kilo were as follows: RADA
Dec.
Mar.
May
July
KARACHI A
34.30
The market deed off on
to 50 per cent enhancer
export duty and siseku
elgh demand.
per maund
•Woolwor
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