1955-09-13 — Page 9

THE CHINA MAIL, TUESDAY, SEPTEMBER 18, 1955.

TRADE and

COMMERCE E

Page 9 FORMELHOF MOI22343)7

SECTION

BL A

AMERICAN ECONOMY UK EXPORTS New York Stock Application

WORLD COTTON MARKETS

New York, Sept. 12. Cotton futures today opened lower and remained on the defensive for the rest of the day.

HONGKONG Price Increases But

STOCK EXCHANGE

(From Our Correspondent}

kong Stock Exchange this morn ing amounted 16 $1,810,000.

Business done on the Hong-

In the third straight session Noon quotatione and the

of sagging prices, ali 1850 der | morning's transactions;

Jiverles lows."

dipped to schsonal

Trading developed in spurts, but in the

business overall Was on the qulet side while several traders pondered the uncertainties overhanging the market,

Cited

among them were:

SHARES DUYBOS BELLERS BALES,

BANKS

234

1.

HK Bank Earl AR INSURANCES

Union Lombard .... 52!$ DOCKS, ETC. K. Whart Dock

$740

Disposal of the Government's raw cotton surplus; 2. Unetr-

Govern- about future tainty ment policies on prices sup- ports and production controls; 3. Quietness in the textile mar- kots with fcurs that lowered Japanese tariffs on cloth imports wli!

Provident

Wheelock, 0.00

incan increased competition LAND, ETC. for domestic mills and a resul- lant slow-

slow-down la raw cotton used here.

Carolina mill interests on Mon- day were credited with selling around 7,500 bales in the December delivery.

Traders guessed this selling was either Jiquidation of futures against purchases of spot cotton, or hedging against cloth Inven- tories, encouraged by the Japan-

competition fears.

Closing at the day's bottom levels the list was off 16 to 24

Opening points net.

prices were off 1 to 5 points. New Orleans closed off 10 to 23 points.

Trading volume and open interest in the Exchange today were:

Too Early To Predict Inflation

By JÖHN MORKA

-New York, Sept. 12.

A longshoremen's strike tying up the port of New York, shortages of steel and copper and 5165 1750 indications that labour will deal more gently with independent automobile producers than it did with 1010006 the "big three" marked this holiday-shortened post-Labour Day-week in US business.

20.00 500

1000 20.00

2000 20.70 10 3000 11010 1200010

1634 800 20.40

IK Hotel 18.00

1K Laud

74 21umphrey' 20.40

(N)... 30.40 19.80

..... 2 Jay

Realty

RUBBER

A. Rubber,

UTILITIES

Tram

500 as pos

10 500 18.00

2500 10 75 1400 75

2000 W 2015 800 19 150 500 6 10.50 15,000 @ 23716

12.30 20,000 @ 22115

Star Ferry Ymas Ferry 10

The week, as expected, brought some price increases, notably in copper, zinc and platinum, but it was still too early for any solution to the the traditional autumn question of whether unawing in business will drive the American economy into a new inflationary spiral.

Thirty-thousand longshoremen walked off their jobs at the New York and Now Jereby plers Wednesday morning in protest against recent arbitrary and in- human actions of the New Waterfront York-New Jersey Commission set up by the two

to curb union racketeer 24.00 100 25

states 500 6 24.00 Ing, The chief complaint of the strikers seemed to be that the had withdrawn Commission work permils from unich diem- bers with lengthy criminal re- cords.

140

C. Light (0) 231⁄2 23.80

C. Light (N) 10.20 18.40

Electric..... 435 43.75

110

iai 2200 @

300 120 2000 2

600 db 23.00 500 2510 200 10.80 500 g 10.50 200 9 46 3300434 Масло Elec. 143% 11.00 Telephoto 32 34 3250

209034

36.78 38% 1800

Month

Volume

Open interest

INDUSTRIALS

Comment

Oct.

10,800

201,800

Dec.

37300

739,000

Mar.

8,700

356,300

May

9,000

421,400

July

4,000

270,400

Dec.

3,000

132/200

Mal

70,300

2,161,700 bales

NEW YORK

L

STORES, ETC.

Dairy

Watson ... 14.70

Crawford 37

Prices of futures closed today

as follows:

Spot

Oct.

Dec.

Mur

May

July

Dec.

NEW ORLEANS

3456

23.29

33.21-20

33,01

33.00

12.42

32.10

Prices of futures closed today

as follows:

Spot

Oct.

Dec

Mar

Mary

July

Oct.

Det/Nov.

88888888

RRACORNS

32,12

LIVERPOOL

Future closings, in pence per 1b., American middling, were

ns follows;

Dec/Jan. Mar/Apr.

May/June July/Aug.

SAO PAULO

Future closings, in cruzeiros per kilo were as follows;

October

December

March

May

July

In the

COTTONS

3410

80% .1000

2000 ₫ 30

2320 23.30 1500 23.20 500 23.20 16 100 @ 1490 2100 14,50

.... 3.80

0 3600 @ 800

35 8.25 2000 420 ...... 5.90 5.50 1000 or 850

Textles

MISCELLANEOUS

Yangtze Allied

Singapore

Stock Market

PICK UP

London, Sept. 12,

British exports picked up considerably during August after haying undergone the harmful Influence of railway and And dock strikes ki, Juno July.

Today, the Board of Trade anngunded

that British exports, (fob) for Anguist

amganted t £284 millón dealast £222 million in July and £157

million in June.

In spite of this improve- ment Brital has agam registered very heavy trade deficit of £68 million.

Imports amounted to the Jovel' of £342 million high (olf).

The level of British ex- porta to the dollar sono canthues to Бе factory--FraNON-Presse,

World Rubber

Markets

Singapore, Sept. 12. The rubber market was quiet the price to British consumers with little interest in trade. to 45 cents a, pound, two cents Futures: higher than the US price, which may be forced upward, Zine No. 1 prices In the US climbed 14 gent per pound to 13 cents dur- Ing the week, and platinum coured $11 an ounce to $91 an ounce for bulk and $94 small quantities.

Other developments:

Employment

rubber per lb.

rubber per lb.)

rubber per ib,

**Sept

Sept. Oct. Nov. No., 2

No.

for

Sept

No. 4

rubber par 15:

Sept.

Spot rubber,unbaled Blanket crepe

A

Employment in August set Passengers continued to arrive new high for the, third copsecti from and depart for Europe but tive month, The figure was 05.5 freight traffic

seriously millions. Unemployment, accord White collar office ing to the US Department hampered.

of workers from the various ship-Layoun, dropped about. 250,000 ping lines handled the mooring trom

the July total of 2.5 lines and passengers luggage ofthillions. arriving and departing ships, of jd dozen flaga but loading

and 1935 unloading of freight without the services of the picketing long shoremen was a tough nut crack.

In Sympathy..

to

Near the week's end, sym- bathy walkouts were ocoursing in Boston, Philadelphia

and Hampton Rouds, with other strikes in the making of other ports.

No. 1 palo erepé

24"75-14015 PLAY-MON unquoted

139341

- 142-14234*

135-138 14837-147%

113-135 149-155

NEW YORK

¿ Futures closed today 25 to 30 points lower wiût sales of 174 contracts,

Markets of

New York, Sept. 12.

of US anti-trust laws

Washington, Sept. 12. "Senator Harley M. Kilgore Several spectacular moves among the indusnounced today that he will trials took the spotlight today while rails rested confer in the European capitals with American businessmen con- after their leadership, last week.

corming the application of the Industrial strength, centred in steel, motor and United States anti-trust laws to sorelyn tracto and foreign Invest- metal shares lifted the average nearly 2 points to a mente a

new all-time high. Rails, with mostly fractional Ben. Kilgore made his decision

Utilities after changes, held unchanged on average,

American chambers of commerce in Europe wrote him dipped a bit..

expressing interest in the cur rent investigation by the anti- trust And monopoly emitton and

Trading continued at a good clip with turnover of 2,520,000 shares. the heaviest since July 21, compared with 2,500,000 shares on Friday.

US Gypsum was the thyr mover, nouring 29% points to $325

five-for-one stock split wan proposed by direc-

tor

04 0

Standard Brands Standard Oli of Cal. Btandard Ol of Ind. Standard On of NJ. Stokely Van Camp, Studebaker-Packard Corp. Swift & Co. Texas Co.

Tide Water Assi. Oil Twenty Century Fox Film Union Carbide United Aircraft U.S. Gypsum U. B. Line Co, US. Rubber US. Smeling USB, Steel

1331 views beco

.463%

sub

that their

"Since it is the policy of Congress to encourage Ameri- can businessmen to engage in to maka

the' Senator said "It is incumbent

foreign. trado and

Investments

foreign

1 on us to determine how this

પ

be policy

may

effectively Balcarried out without rinning foul of the oqually important policy of maintaining effective competition under our anti- 50% trust laws."---United Press.

-United ProM.

Reynolds Metal, a centre of attention for some time how,

Warner Bros. shot up another 18 points to

Worlinghouse Electric $297 on the day's most active wet Va, Pulp & Paper turnover. Reflecting this move | Woolworth on... the American Stock Ex- chango, US Foll B_which holds a large interest in Reynolds, ran up. 10/points to $227. The latter proposed a six-for-one spillt last week.

Motors Up

**

'General Motors shot up near-

4 Jy points

the time approached for the special mpeting at which stockholders will consider, a proposed three- for-one stock split. Chrysler followed G M up with a gain of almost a points.

Demand for steels

lifted Bethlehern, Armco Crucible, Inland and Republle Stect a

Iwo point to

and points Youngstown Sheet and Tube more than 3 points.

In rails, movement was nar- row except in a few issues. Rock Island, Northern Pacific and.

New York Central lost around a point. Illinois Central' gained almost one,

The market moved Irregular 1y while treklers consolidated positions after last week's 'Hid In Pointing out that the 1929 and and pending, developments 1937 stock market declines oc- the waterfront strike. intefest

of 3 total 1,1983 les traded, curred shortly after Labour Meanwhile, factory Day, the Journal of Commerce in the spot market, simmered

505- advanced, 458 declined,

volume today on the Bond took a look at the market and down to

Practient halt. New

York Exchange was decided that elements

Among the Best sales reporta $8,380,000. strength and potential weakness were November one sheets, dr

Volume от the American are pretty well balanced, with 473% cents, and December .ones

Stock Exchange wàs 800;000 the line of least resistaxe still br 47 cents a pound

Spot shares. upward. However, the paper No. 1 Ras wero quoted at 3844 warried Investors to be alert

of

a

against any evidence of change cents. nom. Futures:

LONDON

-

Closing Prices

$0.05

Alden Inc. Acs.

Allied Chemicals

43.84

41.30

Allied· Mille- Inc. Allis Chalmers Arborichililinä, American Cyanide Ami Mich, & F day, Americks" Metal, American Smelting American Toi & Tel American Tob. "B" Anaconda Copper Armco Steel Armour 44-Baldwin-Line Ham.

pence

The market was barely steady with spot quoted at 42% per lb. Prices:

No 1 spole

In the situation.

Sept. Back-to-school business in- Dec. creased New York

Mar. department May Elsewhere on the labour front store sales last week. Compara- July the United, Auto workers sign-tive figures from reporting stores Sent. ed an agreement with American showed business

per cent Dec. Motors Corporation embodying above the same period last year. much the sanią wagę, increases The Commerce Department and guaranteed wage benefits reported that wholesale sales in wrung .from Ford.

General July fell nearly 500 millions be Motors and Chrysler, but, de- low June's, volume, but topped Laying for 16 months the July of last year by more than effectiveness of the layoff pay 100 millions. Inventories show- provisions. This apparently w

ed a starp rise. recognition that the ladepen-

The same department an- dent producers have "special nounced that បទ exporters problems," and augured similar shipped 10 per cent more com

with concessions in bargaining

mercial good abroad in the first Studebaker Packard Corporn-seven months of this year than tion and Kaiser Motors Corpora- in the like period last year, with tion.

total exports amounting to 8,000 Auto production was headed millions, including 753 milliona this month for the lowest point in military. ald

of model United Press. of the year because changeovers, but was expected $180 cd to pick

Singapore, Sept. 13. Brokers today quoted the fol- lowing stocle prices:

Opching

Batu Lining Rubber co.

La

Bridal Borneo Petroleum

Syndicate

Consolidated

30,42

31.22 Fraser & Neave Lid. 712

cum. prof.

Smetter Ord. Fraser & Neave Lád, Ord..

Ale

20

$1,77

$6.49

ing Corp

20 22 Hongkong & Shanghai Bank- 28.03

010

23.00 Hongkong Tin Ltd.

734

Kompan Lud

Luna Rubber Estates Ltd... Malayan Breweries

$3.00

New Serandah Rubber

32.70 Bates o

$4.00 2

$1.00

$28.00

Petaling Tin Ltd,

360 Singapore Cold Storage

Ltd...

33.40 South British Insurance Co 33,00 13.30 Strast Trading United States, the Straits Stearnship

United Engineers Ord,

average price of 15/16 middling Weare Bros.

cotton at 14 designated spot markets was 33.20 cents. Sales totalled 40,077 bales.-United Press,

NEW YORK METAL FUTURES

New York, Sept. 12. Prices of metal futures closed today in cents per ib. as follows:

Lend

Sept.

Oct.

TR Sept. Copper Sept.

Oct.

12.37b

10.23b

$2.3

$13.00

$10.00

China Mail Special.

Chicago Grain Prices

Chicago, Sept. 12. Prices per bushel in cents. Whent No. 2, red

-20

14.74b

14.78b

95.zon

Mur

$4,000

May

Spot

10314 Sept. 197) 1994 (L) 1974-1 Doc.

20041

190-

July

Ziric

Oct. Sept

12.40

Oct.

60.00

Corn, No. 2, yellow Spot

-United Prem

Sept.

LONDON

Dec.

London. The tin market was steady July with a turnover of 50 tons. Spet Rye remained unchanged at £744% Sept. and three-month lost

Mar. May

Not

to

£744.

Qata Sept,

Other metals were steady, | NOT.

Spot

buyers salters

Bept.

74434 745

Nov.

$4432 740

Jan.

打

Mat.

300

Barity,

107 1073%

Spot

New York Dour

Dec. 4

14

200 ib, sack

130-100n

$13,600

---United". ProRN

Led Free,

Prices closed today in sterling | Soybeans, No. 2 yellow por long ton us tchowa:

Tin spot

3-month

Copper spot

3-month

Lead im Half Sept.

Doc

zine 1st half sept.

00***

10734.108

May.

B7

4

up in even greater volume in mid-October when ther now models will go mass production. The slump in productions seemed overdue be- cause retail dealer. throughbist. the country reported high hiven- tories which probably meant A temporary rich of price cutting on new but soon to be out-dated models.

unifon In many other lines, negotiators won concessions matching the diíto Wage pattern with and without strikes, Walk- outs at Bendix Aviation Cor- poration in Detroit, Allis Chidi- mere Manufacturing Computy

shipments

4214-436

Baltimore & Ohio .. Bendix Aviation - Cord..... 417 Benguet Cons. 43424 Bethlehem Steel

Settlement house term: October

...

November

December

Oct/Dec.

Jan./Mnr.

Boeing Airplane

July/Bapt.

Apr/June

September October

303-3054 300 General markets, clf basis, ports:

Borden (The) Co.

Burroughs Add Machine

Canadian Pacino I

CANO (J. LY.CO.

November

unquoted Estato cropo thin and thick Oct unquoted.

AMSTERDAM

The market was quiet. Prices closed today in guilderis per kilö-

NETHERLANDS gramme, of September as fol-

EPU DEFICIT

Amsterdam, Sept. 12. The Netherlands had a deficit with the EPU in Augist of. 955;" 200 gulders, the Netherlands, Bulk announces...

Jowe:

No. 1 rubber No. 2 rubber No. 3 rubber No. 1 crepe,

110 nom. 1.02 from.

3.00 mom. 2.13 potti. United Press.

London Stock Market

C. I. T. Financial Corp. Cat. Tracto

Celanese Corp.

Chase Manha

Bank

Chrysler. Motors Colgate-Palmoliye Co. Commercial, Credit Commonwealth Elec Consolidated · Edlich- Continental Oll, of Del. "Cantinental. Bioni

Com ProducİS Crane Co.

Crown Zellerbach Cuban Amor, Sugar, Curtis Wright

Diamond Alkali Dow Chemicals

Dupont de Nemours Eastman Kodak

Iz Paso National Gar Exie Talkroad Family Tinacion Corp. General Electido Geod Foods.

Decoral Motor

Geh. Pub, · LUI affette Bestety Razor to Glidden Co.

Goodrich (HY.) Goodyear The

Of this amount, the Nether- lands will pay 725,800 suilders in dollars on the settlement dale September 13, while an amount of 239,400. guilders will be do

London, Sept. 12.. in Terre Route Indiana, ducted from the credit granted Springfold; Illinois, and tho

Stocks were firm in quiet atendies Chemford to the SPU.. Budd Company, Gary, Indiana.

Moreover, Dutch credit to trading on the London Exotics Beinknas were settled when the con--the PU will be reduced by change today. panies granted the UAW which 3,883,000 gulders,

ས་ ༣ which wil represents their piployees, coft- tracts substantially the same a the auto formule;

Other Contracts

*

Tel.

an . Power. Elgit

be received in dollars on that Delish, Governments led An

International. : Nickel date under the consolidation advancing contingent which in bercadal Paper

with Britain, cluded a number of industrials.hradovile Agreements Frince, Norway and Iceland, ... But oils and foreign bodds

After labet, pyttioments, the generally showed losses.

War Loan 35% per cent jutópeć Dutch claim on the EPU will be Other contracts wire signed 070:710,200 guilders China 10s to £76, and Console 24 per by various unions already were Mil Speciál

cent turned in a gain of seven Goodrich Companý and notch Altcraft.

In the shortage department,

:

steel makers, alreddy were tal-New York Sugar

ing, ortier for the list quarter

of next year much earlier than

|úmail-Decatie users are worried

222

by an extremely tight, supply situation, which threatens to bo- come, worse Republic Steel,

Market

New York, Sept. 12: World. No. 4, sagar futures plans for today closed unchanged to

shillings six pencedustrials Ady

Interest in

Kenziecats: Chupet Kerett Kerem 266. Lockheed Aircraft

Loews IncDET AVAI Lone Star Cement Louteville & Ngahype

Lotion Com

Iron

small, but a good; nuimber, of Mon Development. issues tacked on a few vente in Monsanto Chemical Co. selective buying.

Foreign bonde attracted attention...

onred is much as 11% polls

is

Montgomery Ward-

tools ne

National Cash Heg

National Land

National Dubilier E National MLS

the

ten knulling and" Slaw yorktober

another bright, mode dirk Bevator

Dib Kribidony

4-223 deanwhite, tuzna pró, 1. polte, adter with Males of one with a 10% pence VeAllt | Pació Can 44)

a. 150 millor

mimo Which wouk boot. The contract" enotheity by 1.8 million wou

ntially. Thi mové

Dire deportlist lotë

ase oppper;

iridiatrics, pätiti Ebenbare to ral

London Foreign New York Foreign Somer or ro

Exchange

Exchange

de Cob

Joint yent shöfané or koppër hill bros duped

sworst orisis in

The Homestle No.

futures closed" unchanged "to" 1 point higher with soles of 60 (son tracta

Both ma

and feature eISA

Burmak

Gold, Mind closed p

and coppos

ézáed on the

dülot

Exe

Owen Ellipoli

Profilo Western,

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Outwards "CANTON"

"CARTHAGE” "OHUSAN"

CORFI"

Leave Lomdasan.

Balled

Due Hongkank

19th September

14th September 17th October :

30th September 19th October tal

14th November - 12th October,

Via Boutfiampton, Port Sxiä, Ádan, Hámháy,' COLOMBI,

Penang à Singapore -- Leaves Hongkong 'Due Lazdon

24th October 23rd September

Homewards "CANTON”*•

"CARTHAGE" 1st October 21st November :

"CHUSAN" "CORFU"

29th November 2nd November 18th November 12th December

Via Singapore, Panas, Colombe, Bombay, Adan, Port said & London * Also

calls at 'Majis.

SURAT"

FREIGHT SERVICE

tonds 280 hept. for S'pore, P. Bwetten,

ham, Penang. Colombo, Adek, Port Said, Gebom. Marseilles, Havre, Lone don, Antwerp, Rotter da de Marburg -"SHILLONG" due 27th Sept. from UK. via Straits

soade 28th Sepi..for Japan

N..

Wien Überty to call XX.Balawan before or after Bizalta Forts and at Bombay it inducement offers. Tanks available for carriage of Oll in Butk Space for refrigerated cargo: Elinites Passenge

socommodation

BRITISH INDIA S.N. CO., LTD..

from Japan

"SANTHIA"

In Port

salis flla Sept. for Singapore, Penang

Rangoon & Calcutts froat Calcutta via Han goon & tračts

"SIRDHANA" in Port.

FULTALA

its 14th Sept. for Japan dus Tih Det.

from Japari

Falls Si Oct. for Bingapore, Hangoon

·

P. & 0./B. I. JOINT SERVICE "TTOLA"

"ORMARA".

'"ORDIA"

"ORNA"

La Fort

salle 13th Sept.

due 13th Seat sulle 19th Sept.

from Japan

for Singapore, Madras, Dhanagar

Karachi, Bawah. Abadan.. Khor- rumanahr di Kuwait from tápan

for B'pore, BOMBAY, Karachi, Basrah, Kho rainstar & Kuwait dum zard Sept. From Katachi & Bombay salla 24th Sept. for Japan to

due

lat Oct. from Kerschi & Bombay vallà 2nd Oct. for Japah

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

"NELLORE”

· FARAFURA”.

2. T

ans in Oct. from Australia lords th Ort for Japán Loads / Oct, for Sandalcin, Brisban

Bydowy Melbourne Adelaide

All vessels have liberty to onii si any ports ou or off the roule & the route & mailing are subject *to.chaare or amendment with or without, notice.

LABAMA

for Fall perlhulers apply t MACKINNON. MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos 27721-4.

MESSAGERIES

MARITIMES

PO. BOX 13. & Queen WA BULLT ZANIK

- FAST_PASSENGER/FREIGHT SERVICE

"VIETNAMO

CAMBODGER

Balling Ook 8th -Bailing. Nov. 5th

were

unch

The Rhodesians

of co