1955-10-13 — Page 9

·

TRADE

****

וויז

THE CHINA MAIL, THURSDAY, OCTOBER 13, 1955.

***A WA

and

COMMERCE

HK FISHERY OUT OF STEP TRADE CYCLE

EXPERT

FOR TALKS

An

Rome, Oct. 12, Internatonal training course on Inland Asheries and tish culture will open at Bogor, Java, at the end of this month, organised by the United Nations Food and Agricultural Organisa- tion, the Indonesian Government and the Indo-Pacific Fisheries

Council.

The course will advanced training to

provide

Governa ment officers for the assessment

and use of inland fuhery sources.

K

Cruzeiro Devaluation Speculation

New York, Oct. 12. One of the major un-| knowns in the соспа- chocolate industry at the moment is whether Brazil

Main Factor In Stability Of

AMERICAN

GRAIN CROP

World Economy ESTIMATES

London, Oct. 12.

1955.com

at

crop

The corn forecast last month

3,113,467,000 bushels. was

The

Washington, Oct. 11, The Agriculture Depart- Much of the economic stability of the worldment yesterday estimated will devalue the cocoa-export in the years since the war can be attributed to the the cruzeiro, according to Bache fact that the trade cycle has been out of step in the 3,117,739,000 bushels. and Company, Wall Street different sectors of the world economy, brokerage firm.

Participants will come from

regardless of supply and demand Australia, Burma, Ceylon, Hong-considerations, the market is kong, India, Indonesia, North likely to decline. Such a move Bornes, Pakistan, the Philp-will almost certainly lend to pines, Sarawak and Thailand, ---

lower prices from Brazil," the China Mail Speelů.

statement added,

Mr

"If devaluation is decided, then

However, anticipated devalua- Yu Yat-sUNITA, Asistant Fishery officer, is the Hongkong Umes, and it now seems as if a tion has been postponed several member who will take part in decision may

be delayed until the training course.

the Brazdini Congress can dis- Me Yu Joined the Depurt- ment in 1840. He will be leavs the foreign exchange prob-

lems.

ing for

Djokaria by plane on1 World cocon supplies this year

October 24,

East-West

Trade Session

have

now

The post-Korean recession, as an example, has been experienced in all countries but at different times.

JAPANESE

EXPORTS

000 bushels including

689,405,

Crop Reporting Board estimated the 1955 wheat crop et 015,526,- 000 bushels of winter wheat and 220,125,000 bushels spring wheat.

of

In Western Europe and the

The winter sterling area the recession years

wheat estimate 1952 and 1053; in Were

the was the san as last month's

same the crop was virtually United States and Japan the r when cession was delayed until 1954. harvested,

wheat The spring This was fortunate for

estimate compares the

with Inst world because the boom in the month's forecasts of 227,373,000 one area offset the recession in bushels. the other and extreme cyclical movements were avoided.

INCREASE been estimated at 2.2 per

cent more than a year ago, Last BEUSON, on account of the high price for

cocou, various sub- stitules

were utilised

by con- fectioners, resulting in sharp curtallment of cocon usc.

However,

the price of cocoa is approximately half its former peak level, so that the Advantage Geneva, Oct. 12.

no longer lies with the use session of

of substitutes.-United the for the Develop- Press. ment of Trade between

East and West Europe of the Euro- pean Economic Commission ended here today.

The fourth Committee

Under the chairmanship of Alexander Wolynski of Poland and Vice-Chairman Ale Mal- nuxus of Sweden, representa- tives of 24 countries worked to ameliorato trade conditions be- tween the two geographleat and political regions of Europe.

The results of this Com miltee's work are secret, though Al is known that substantial proprest

made towards casing commercial negollations between the East and West,

was

A group of financial experis, headed

by Baron Ch. Von Platen of Sweden, also examined payment agreements, group

made several mendations to the

The

recom-

LONDON LEAD AND ZINC

average

SECTION

:

Page

Australian' New York Market Stages Recovery

Coal Industry

Problems

Canberra, Oct. 12. Talks on the future of the Australian "coal mining Industry at present being conducted here have sur- gested that 'Australia may find a market for coking

coal in 3 th food that

it was

the

conference,

between government officials and the industry, has been informed that the Japan- ese were anxious to buy coking coal which is un- available

Japan United Press,

HONGKONG STOCK EXCHANGE

New York, Oct, 12. :

Stocks scored their third best recovery of the year today regaining $2,000,000,000 of lost valut. tions, but did it on a typically low holiday volume. With banks closed and many in Wall Street taking the day as a holiday, turnover declined to 1,900,000 shares from yesterday's 3,590,000 shares.

The demand put prlees, up sharply right from the start, extending the recovery which got under way late yesterday, Äll group? participated, with steris. motors, ulls, chemicals, metals and rails doing parti- cularly well.

Gen. Pub. Uth. Gillette Safely Hazor

Goodyear Tire Hematake Myning Co. Interchemical Corp. Int'l Business Machines Int'l Harvester Je International Nickel International Paper Infl Tel & Tel John-Manville Co.

Goodrich (B. r.) Co.

Kennecott Copper Liggett Meyors Tob. Co. Loothood Atroraft

A in in the industrial avea age of 0.00 points shaded a bit from the day's high by late

Loows Incorp, realising -- was topped only Lone Star Cement Co. twice before this year, on Sept. Louroville Be Nashville

Lowenateny & Sons, 27 when prices regained 10,37

201 | Mesain Iron Cuợp, points of 31.89 lost the previous Monsanto Chemical

Rails Back

day on nows of President Eisen- | Montgomery Word hower's illness and on July 8 Motorola Inc.

National Cash Reg. “A harvested Last year formers

when a three-for-one General Nationat Dairy Prod. 2,064,030,000 bushels of COTT. (From Our Correspondent)' | Motors stock split put the over-Nations Distliers Ten-year

production

age up 7,99 points. It now seсms that this happy

Business 3,080,115,000 bushels. was

done on the Hong- state of affairs is coming to an The current wheat forecast kong Stock Exchange this end and that the non-Soviet | compareS with 069,781,000 morning amounted to $500,000. world is once again reverting to bushels last year and a 10-year | Noon quotations and the morn-

ing's transactions; Its prewar pattern, in which the average of 1,154,073,000 bushela. nations move approximately

-Untied Press, une with one another with the consequent danger that cyclical'

become for more

Tokyo, Oct. 12. The

Ministry of Japanese

and International Trade

In- dustry

that announced today Japan's exports in September

to $180,846.000 commovements increased pared August,

with $179,932,000 in

All the three currency areas showed an increase: The dollar

area

severe.

Raise Discount

in

WORLD

RUBBER

PRICES

Singapore, Oct, 12.

market opened The rubber lower on disappointing overseas | advices and cased off throughout the day on lack of support and absence of short covering. The market closed weak. Future closings were: а

$82.175,000 in September The events of the week ended against $75,933,000 In August, September 30 have provided sterling arca $04,300,000 against dramatic illustration of the ex- $04,001,000 in August and the tent to

in: w which countries open account urea $40,082,000 different parts of the world are in September compared with suffering from indation. London, Oct. 12,

Thus, in South Africa, it has $39,938,000 in August. Copper And lead were

been

necessary to raise the Cen- steady today while zinc was Japan's exports during April-trai Bank's discount rate, while stendier, Prices closed today in September intalled $983,088,000 Australia and New Zealand have sterling per long ton as follows: compared with $787,000,000 in both been obliged to cut imports

33234-359

the same period of last year. In order to preserve their foreign 352-33234

exchange. 10614-100% 100%-100.

An increase was noted

In France, there has been 0014-90% the dollar and sterling areas,

boom 2013-0012

on the gold market, in No. 1 rubber per lb. Oct. 110-1193

Nov. 110-119 but in the open account area dicating falling confidence in the -United Press,

* Dec. unquoted compared currency.

No. 2 rubber per tb. Oct. 110-1103 -China Mail

No. 3

11734-11935 In the United States the stock N

116-12 1103-1103 market showed itself excessive-Spot rubber unhaled "..

vulnerable when it received Blanket crepe... No. 1 pale crepo the news of President Elsen- hower's illness.

Copper mot

3-month

Lond

Zine

Lat limit Oct.

1st half Jar

1 half Oct.

1st half Jurts,

LONDON SILVER

PRICE

London, Oct. 12.

decreased the total with last year. Special.

in

The price of silver was quoted UKFirmsForm Even in Western Comiaittee, today at 10 pence per line aimed at widening the possibili-ounce for spot and 80 pence ths of multilateral compensa- for forward (against 80% and tion.--France-Presse.

79% previously.)-United Press.

Higher Profit For US Companies

Washington, Oct. 12.

Closer Links

3

H

P

LONDON

0715-0915

130-132

SHARES BUYERS SELLERS SALES

HANKS

JIK Dank East Asia

INSURANCES

Union

SHIPPING

Waterbat

DOCKS, ETC,

X. Whart.... Dock

1700 20 1700

234

940 950

10 @ 940

23

71 7214.

29.70 Provident (0) 1535 15.90 Wheelock ...

LAND, ETC.

.30 .45 1500 9.40 300 9.35 700 & 0.40

THE Hotel...

13 1040 HC Land... 03 04 200

Ris 37%

Humphreys Realty

RUBBER

(N) 19.40

A. Rubber.. Trust

UTILITIES

Trom

20.70

2.30

1975

4000371 7500 371

24.20 24.40 1000 @ 24,30

1000 F 24 20

113

C. Light (0) 23 00

110 400 115

500 € 22.70

Y'mati Ferry

C. Light (N) 373% 17.00 Telephone 34 344 800 74% Electric ........ 4135 4214 30041.75 Macro Mice. 11.00

INDUSTRIALS 3434-3456

Dairy

National Lead National Steel Corp. New York Central' Ota Elevato ..... Owen-Minols Glass Pocille Gai & Mec. in Pan American Airways their best rise, since June 22, Paramount Pictures

Penny J. C, Co. to Phillp Morris with improvement running more than 2 points in Union Philips Petroleum Pacific.

Ralls recovered 2.22 points

1

Procter & Gamble Co. Publicker Industries Pure Of

on Radio Corporation

Uulities were lifted 0:39 numerous small gains, ranging Repubile

to 1% point in Cleveland Elec- Shall of co tric.

Saint Reg. Paper

Sinciale On

Bocony Vacuum

Of a total 1,111 Issues appear-Bouth Porto Rico Bugar

ing on the tape, 783 were high-Southern National G

er, only 145 lower.

Southern Railway (Com.) Standard Brands

Standard Oil of Standard Oil of Ind

3 Standard Of of NJ.

Studebaker-Packard Corp. Swift & Co.

2

Steels had some of the best gains, ronging to more than points in Inland, a point to points in U.S. Steel, Armco, | Terral Co.

Crumble Bethlehem,

and Republic.

National

Tide Weter A. Oli Twenty Century Fox Film Union Carbide". Union Pacific Railway United Aircraft

and US. Gypsum

Du Pont climbed more than 3

Texas Co. points in -Standard of California,

US Steel continued to

volume,

fea followed by

ture on New York Central, Glenn Mer-

U.S. Line Co.

U.S. Rubber

US. Smelting

US Steel

Warner Bros. Wostinathanne Electric

tin, Chrysler and General Mo- West Va, Pulp & Paper

tors when issued,

New York Stock Exchange bond volume was $3,000,000.

American Stock Exchange volume way 820,000 shares.

Dow-Jones averages were as follows:

Settlement house term:

3415-3436

Cement STORES, ETC.

3322-3377

37 38 500 374

20 20.40

30 Industrials

$29 ralls

14 utilitica

33)-33%

100 ©-102

#tocica

COTTONS

0.10

The market was quiet but Germany

steady with spot quoted at 349% there are signs of a

worsening trend in the balance of

pence per lb. Prices: payo. Ras apot men's.

The Bank Deutscher Laender Nov. report! Dec. suggests in its August

Jan./Mar. balance for that. Apr/June that the trade month

be Inay

опе of Į July/Sept.

General marketa, cif basis, ports: equilibrium at the best; the first! month occasion for years In Nov. US anti-rust laws are driv. which there has not been

With Europe

London, Oct. 12.

ing British firms to form closer export surplus. links with European Industries, according

Chamber of

to

the American Commerce here.

Ani-Trust Legislation,

in

Only Japan

than

Oct.

34-3616

an Estate crepa thick Oct.

AMSTERDAM

3714

The market was weak. Prices jello- closed in guilders per gramme, of November were as

No. 2 rubber

This was stated in a special) In Britain, on inflationary follows: memorandum to the Chairman st uation has been acknowledged No, i cubber of the US Senate Judiciary Com- for more

Д усат and. No. 3 rubber Profits of 511 representative companies in 25 mitter and the Chief Counsel of monetary weapons have been No. 1 crepe

on deployed to corbat it with industries increased eight per cent from 1952 to the Senate Sub-Committee

gradually increasing force since 1953, the Federal Trade Commission reported

January

last. today.

The attitude of the US Justice

Japan among the major Department £15 restrictive

Hint coun'ries of the non- In the seventh of a series of reports to interpretation of the law over Soviet world appears to be still business between US compswy set on Congress, the FTC said profits reported by the agreements

panies and others abroad was

and this might have firms, which constitute a "substantial segment of described as a positive deterrent been expected since the post- January Korean upswing in the industrial economy," increased 10 per cent to the disemmination of Ameri-

then in the other coma later before taxes and 8 per cent after taxes.

countries and the recovery has been similarly dolayed.

After taxes, the 1953 profits

totalled $0,225,000,000.

They

were $5,738,000,000 for

the

same companies in 1952.

Then 1953 rate of ratum stockholders investments

on

*x-

ceeded the 1052 rade in nine of the 25 industries, the FTC re- porled, remained the name In three and was tower in 13.

Tax Relief For Oil Company

can

a

3.37 Som 3,30 nom. 3.33 nom. 3.70 non.

United Press.

Liverpool Cotton Prices

Hong Bang

Hong

Textile Corp

Narapka MISCELLANEOUS

Allied

181

3,90

Bài 300 G BẢO

021000 B.AS 6000 e 90 1000 5.55

Chicago Grain

Market

Chicago, Oct. 12. Wheat and oats maintained o steady tone throughout most of the session, but other grains were mostly lower on the Board of Trade today.

day's larger

Liverpool, Oct. 12. future Cotton

closings,

in

19

The nations of the world are not yet completely in step, but American middling, were

Old contract

would seek closer tics with Swiss, they are geting closer together. follows (in pence per lb.):

technical "know-how" and capital investment abroad. It could

mean that British only companies would avoid arrange- ments with US

companies and

German and other companies.

arranged They may in fact be They could thus enjoy freedom in order, with Britain heading of uninterrupted trading

final the Ble, clearing in the The US officials were warned stages of an inflationary that the tendency at present was and Japan bringing up the rear, to move towards this type of only just emerging from arrangement with Continental previous recession.

Oct/Nov.

Doc/Jan Mar/Apr, May/June

40

borda

Comm. future price Index

444.58

147.85

01.02

158.02

08.00

132.07

CLOSING PRICES

Allied Chemicala

Allied Mills Inc. All Chalinora American Cyanamide Co. Am. Macts, à 17. dry. Américami Moini. Americaniveting Amcirea Tola Te American Tob. "E" Anaconda Copper Armour

Baldwin-Al A Baltimore &

Bendix Aviation Corp. Bethlehem Bleni

Boeing Airplano Borden (The) Co. Burrough Add Machine Canadian Pacific R. Case (J. 1.) . CLT Financial Corp.

Consolidated Edison

Continental Stool

It was believed that yester-Cat. Tractor

Chille Copper) government estimate of Celanese Corp.

than expected crops Chrysler. Koters" Influenced selling in corn

and Continental Oll of Dul, soybeans,

The official prediction was for Cord Products a 1055 corn crop of 3,117,739,000 Curtis Wright bushels of com and soybean 30.60 harvest of 374,010,000 bushels,

both higher than 25.04 24.timates.

boom

July/Aug.

New contract

the

May/June July/Aug.

Omcial values of spot cottom

Cuban Amer. – Bugar

Dow Chemicals Dupont de Nemours private cs-El Paso National Gas

Erie Railroad Tabl

24.47 Dealers also thought the recent 20.30 salon in scbeans was due to 20.35 (care that a large percentage of of the 1855 crop will be of high and not safe moisture content

Those beans would for storing. have to be dried or sold.

Exporters bought soybeans to day covering 350,000 bushels Bold to Isrncl and anpiler amounts to Norway and Japán, Wheat closed off to up

countries to avoid the "harassing Unfortunately, the majority where changed, were all marked Industries reporting

London, Oct. 12. the

up 40 points as follows: greatest increase in rates of re-

The British Petroleum chair- and confused situation" resulting of the leading countries seem to

Britain than American anti-trust be closer to

to American middling turn were wool carpets

man, in his annual report for from the wxi

1-inch of affairs that' Japan: a state rafering rugs, from 2 to 4,4 per cont; 1953,

to Kuwait polley-China Mall Special.

ill for the world'e euguro sald British flat glass and glassware. from taxation,

stability. blast authorities hind informed 12.7 to 13.8 per cent;

But the key country is the Nigerian Na furnaces, steel works and rolling company that as the Ruler of

United States and it seams to Syrian (40) mills, from 0.8 to 112 per conti

India and Pakistan

Increases in the other six in- dustries reporting hikes on rates of return ranged from 0.2 to 0.7 per cant. The FFC said the 13 Industries reporting declines rango from 0.1 to 17 per cent lower returns.-United Press.

AMERICAN STOCK

MARKET

10x

the

Kuwait enneted the revised in- come lax decrees for the slate of Kuwait, tax under the new decree would rank for unllateral reller against United Kingdom taxation

London Foreign

Exchange

New York The company has withdrawn Montroal

Amsterdamri Its claim against the tax authorl- | Brusela ties for, tax rellef in respect. of Copenhagen

Frankfurt the Kuwait come Lax.paldabon under the old Kuwait tax decree. Milan Up to the end of 1954 Kuwait | Paris tax totalling about £95 million Zurich

Stockholm was treated as

a charge in the group's accounts.

New York, Oct. 12.

As a result of the softle Announcement of what is be- lieved to be a rich oil strike in ment now reached, whereby Ierdel touched off speculative £37 million was payable under decree, buying on the American Stocks the revised Kuwait Exchange in stocles of companies United Kingdom taxtition, the rankod for relief aguinat which woulsh benefit by the dia- covery,

company estimates it has over- Par-immel Dil, Imael-Ameri- provided for United Kingdom con Oil, Igraol-Mediterranean tax

to the extent of 10

Orlo

London, Oct. 12.

2.70-1.7814

be in an ambiguous position.

Precarious

thera

15/16th

American

middling

telet

33.00 31.05 28.70

21.10

3210

waw-ginned NT Sind.. roller-ginned

30.00 nom. cent; seybeans (new) off 33⁄41⁄2 bo 20.00 nom 4% centa

Urted Pre

Singapore

Stock Market

CHICAGO GRAIN PRICES

Prices of grain futures closed today in Canadian cents bushet as follows:

Oct.

Dec.

May

Det.

The stock market looks pre- 2-391-279-5/10 carlous but most observers seem 10.00-10.00% conident that business will con- 130.42-130,45 Binue high. 19.3P-19.321

It is important that it should 11.726-11.72 00.00-50.15

stay high throughout. 1950 when 17.55-17.50

the rest of the world probably | 10.99-20.00

would be in a recession. 08334-DEJY 15.4295-194235 Fortunately, 1221-12 Presidential election

in that year so the Republican Adminis tration may be relied upon to Batu Lintang, Rubber Co. $1.00 do its utmost to maintain a high on Petrolum

Hellish level of prosperity,China Mall consolidated Tin Emelterw Special.

Ord.

25/0 Fraser & Nouvo Ltd. Ord, 170 od May

Northern, No. Traner & Noave Ltd, T

10.30 Now 45,

1301 Press.

-United Prem

London: Wooltop -Market

London, Do

Oct. 12: Woollop future market closed, steady with prices about, 1⁄4% of

penny higher, Prices:

Patroleum and Partepec Oll all million in the 1954 accounts. 02/ were very active with gains China Mail Special:

up-to

a point

samo stocks rose charply! iri

uctive desllings ‚ last, mbijth - ON

Dac.

Jenk

J.

MAT:

Parby, Oct. 1214 My!

Pu

Renews of Inruel first odl discoyong, Fronet, had; a surplus bf116,

Today's decline, was, mados in the 700,00 dollars with the EPL in o mano well as the first discovery September compared with but io.9, pocket 120 does lower, surplus of 21,300 000 dollars in

unted Froms

"August—China' Mail Special.

LONDON TIN MARKET

Singapore, Oct. 13. Broker today quoted the May following stock prices;

Openting Ded

1

Hongeng

Banking Corp,

Hongkong in Ltd,

Kempes Ltd,

$3.50 cd

1910

WARUM BLUM Lam Rubber Estales Lia. $2.40 Lonen, Oct. 12, Malayan iceries t The tin marion Was, stendy New Berandah Rubber Co.

point to patient is laid. with spot

Uver was 85 Sobre O BUNDES

Boulage; eithin-

Dec.

KIK | 3-month. Experi

740

ited Press.

糖

Harley

Oct

May

Dot. Dec.

DET

DOLL 100%~100

10-4

10534

品

200

3.104% conte;

cents-United

Exchange Rates

„Buntziana van', dotus" is, the look!

morning, at› that following rates!==!

Sterling notes, per

Indonesian rupiahs (pse 200)

Blam, tiomie (per, 100)

Singapore (Miraits);

Indo-Cisina plantess (pwr 1903

Fatman Kodak

Family Finance Corp, general. Food

General Electric

General Motors

$102

2412

Woolworth

United Pr

London Stock Market

.

London, Oct. 12. Moderate gains by leading Industrials featured an otherwise quiet session of the London Exchange to day.

New demand pushed Rolls- Royce and Bowater up as much 1222 a 35. Associated Electric, Wool- Beje, worths, and Unilever tacked ont 14 gains of 25 or more, and other E issues had gains of around a 43% shilling. 140}

201

的

Olis joined in the advance, with Royal Dutch up £% from yesterday's low. Other patrzo» leum issues tacked on gains of two shillings or better.

British Government stocks sugged, despite their ranking as good bargains - by many market experts. Selling pushod

3541⁄2 old Consols down 10s, War Loan closed 7s 6d lower. Others lost -1316

anywhere from £11 to £%.

Foreign bonds showed ittle 202 trend. Moot Japanese lens fell from £1⁄2, but 1930's and Tokyo 51⁄2 percent gained £%%. Ge- mens were mixed.

77

Mining shares were irregular, in quiet trading-United Press

Let US handle

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We grasp the point at the onset and

ONE PROOF generally suffices.

After that, our upstosdate automatic

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