1955-10-25 — Page 9

THE CHINA MAIL, TUESDAY, OCTOBER 25, 1955.

TRADE and

COMMERCE

AMERICAN ECONOMY

TWA Backed By Northwest

In Manila Bid

Washington, Oct. 24.

10

Interest Focused

TWA's proposal to extend its prtant International route be- you lombay and Ceylon Manila was

try supported Northwest Airlines S pre- liminary hearing before CAB Examiner William J. Mudden

"Northwest Airlines hopes To

see TWA's application granted

W

fr+

possible.",

amplly NWA'S attorney cumented The peharing conferefier

Approval of TWAS applies- ilon

would establish 1.5.

round-the-web nag service enabling TWA In con- Brel

Mala with NWA round-the-world service by the gile

3WI

ww

13046

whe

On Automation

HONGKONG

STOCK

And Its Impact EXCHANGE

By JOHN MORKA

New York, Oct. 24. Americans talked last week of automation and of its sociological and economic impact on the nation.

Interest was freused on Washington where congressional subcommittee heard conflicting testimony by experts on the implications of this new concept in the streamlining of production and the processing of goods.

The big question for labour: How many Jobs will automa tion display.

For business the tremendous

How a meet

DIOCESSIN

ננסן!

that new advance, an automa-

have Fer:

tit.stance 1 1 SUB- managements" althily prehend what it can

Bug hecine

de mind forsarage

ENT...

with

N-

goods with more efficient post-¦ dining moastra, sirpped-up contemplated

employlad' detnond genitally.

and rising Culing to join TWA was authorised

In one els of production, are

now NWA at Shanghai This route, electronic techniques

the cases at least 1,000 Unes more

giving are

attention never before to autemination. Su efficient than present relative

burdensome devices.

so that the automation ly

to esti- areizus

however, was closed off

Cunuunnist UST 1 In Chun

TWA arul

quently requested sion to Tokyo

wy activity stabze-

am PX VD-

via Hongkong i which the CAB did not grant.

A heating to consider TWA's Bas been tenta- new proposal

24 Jan lively scheduled for

New

The automation industry Is 1301 something that has sprung up overnight. It has been long developing.

much industy,

prate now int luster. about

1,000 company, with links to

other at Irost a dozen

(From Our Correspondent)

Business done on the Hong- kong Stock Exchange utis moming amounted to $770,000.

ing's transactions; Noon quotations and the morn

BHARES DUYERS Sellers BALEY

BANKS

IK Bank INSURANCES

Union Lombard.. Underwriters

DUCKS,

K. Whart Dark Provident

(nd) Wheelck

.. 1700 1715 10 @ 1719

FAC 945 11 045

10

70 71

20 50

1011⁄2 10.00

9.30 1.80 1700 @ 0.50 1800 9.45 2000 of 940

20.70

10.30

70 38

LAND. ETC.

1K Hotel 182 18

HR 1.

(Rio) Thumpopsya

INI Rey RUBBER

A Rubber 1.901.923 2000 g 2.90 Trust UTILITIES

Tri

242024.50 Yurt Ferry 123 (Light (0) 270

2.222.273 10,000 yr 1,25

Ligot N Fitria

424 40

COM-

-25140

In recent years, progress has that to su temendous observers, it now appears.

It is now businers, billions,

$3,000 m £1 KIVO Take and the chi

few

110-

Maçao Telephone INDUSTRIALS

Wenent

York Market

Continues Advance

New York, Oct. 21.

The stock market capped with a strong finish

where in sight.

Last werk. labour leader

orged Me Waher Houther gradual reduction in the work- ing week to 30 c 35 hours as a cushion to protect the work- ers from automation. He esti- muted that to maintain present high levels of demotie activity in the United States. the US will have to turn out from

to 7 per cent more goods and services yearly, compared

an average gein of 5 por cent.

at this

today its sixth advance in a row and its best string Expansion of gains since the market bruke

Eisenhower's illness a month ago.

Un President

Trading picked up a bit from the Friday pace, with turnover totalling 1,820,000 shares, pared with 1,710,000.

Reports

st

record

another batch production,

reports. Invourable

Vypnuter Bone good dividend, predje- tions of record Industrial output next year, all helpst sentiment. Steel shares were among the best performers as Wall Street walls the outcome of the US Board Steel

Bethlehem meeting later this week.

+7(98)

Aircrafts, motors, oils, ferrous metals and a host of special stocks rose a point to 3 polnis, with Industrial stocks up 2.35 on average, rails 0.55 and utilities 0.10.

Douglas Rally

Douglas featured in a fast- minute push which added more than 3 points to its price us the

announced company DC-8 10 mirtiner is in duction, Lockheed, Beeing and

North American gained than a point each.

more

Continental Of Del

Combiental Steel

Corn Products Crime Co.

Crown Zellerbach Cuban Amer. Sugiu Curta Wright

Datum Alkalt Dow Chemicals

Dumont de Neznuary Kuzman Kodak

Fil Pan Nationat Cas Esto atroci

Gen. Pub, UL.

| International Paper

in Tel Tel

com-

rate

19 ΓΟΥ

necessary

to make jobs 800,000 ཌྷ་ 1,250,000 workera annually, he said, and to pre- vent displacement each year of some 3.5 million workers when productivity rises by 5 or 6 per etal.

New Industries

100 un 311⁄2

113

160 0

23 100 @

1400 23

150

1 2000 1000

Flee 11.00 12

STORES, ETC

Dairy

Watson COTTONS

1000 4 43

200

200 424

1000 # 43

35 20 000 35,25

37% 37% 1800 m 3715 G0 3715

Yangleze XD 7,05 720 Allied

WORLD RUBBER PRICES

on

Fadden Urges Gold Price

Increase

Canberra, Oct. zë.

Sir Arthur Fadden, Aus- tralian Federal Treasurer, today, advocated a higher world price for gold and lower European tariffs on primary producis os essell- tial moves towards world currency convertibility.

Sir Arthur, who

معلم

of the

Deputy Premier, told the Council Federal Country (Coalition) Party that continued low gold prices prevented_gold_pro- duellon from playing an effective part in Inferna- tional settlements.

He urged that as soon as progress had been made towards convertibility in other aspects, the enlarge- ment of gold reserves and the reinforcement of earn- ing power by an increase In the gold price should be undertaken.

(Mr Eric Lown, South African Finance Minister, urged an increase in the world price of gold when he addressed the yearly meeting of the World Bank in Istanbul last month.)- China Mall Special

WORLD

COTTON

MARKETS

SECTION

SUPPLEMENTARY BUDGET

Tomorrow's Measures Should Be Worth The Price

•

London, Oct. 24.

New York Sugar Market

Now York, Oct. 24. World No. 4 sugar

fattires closed 1 to 2 points lower with anies of 03 contracts,

Domestic No. 8, sugar futures closed one point lower sales of 30 contracts.

with

Both markets remained, mulet ponding-devoloprienty-in-ine raw and refined markets,

In world raws, dealers' uns confirmed reports say that Iran

The measures taken since February to remove the overstrain are plainly working. The purchased a cargo of Cuban re- further intended measures seem well conceived, fined suger and a cargo of both in general and in the specific sensitive sectors of defence spending, housing and farm subsidies.

Formosan refined.

Futures:

Contract No. 4 (world)

March May

3.18b

3:18

321

Sept.

3.20

"Open interest; 1,320 continels.

Contract No. G

437 0.43 0.33

8.33

When announced in Parliament the new y measures will no doubt fall short of perfection, Spot-teents per lb, tob Cuba) but the prospect is that they will be more than adequate for the immediate problems, leaving something over to do more permanent good work ar and

March

to give the chance of a fundamental Sept. strengthening in the economy and in sterling and Spot-cents per lb. elf NY the dollar reserves.

The credly squeeze is likely 10

hard pinch increasingly from next month until About

has niso appeared

for some months,

involve some temporary squeeze

March.

and is now

generally accepted, that the needed Hep-down Nationary cvcremployment

sound full

In-

employment would

from

profiles,

For markets and investments, both of these temporary pleasantnesseR should be well worth their price.

~

be

Its

£ས་

px-duty} Open Ikilted Pre

Interest: 388 contracts—

Dae Hongkong 29th October

14th November

9th November

12th December

01 January

Doé London

29th November

For the Goverment to doing instead of shirking duty must be us good for ki vestors as for the country.

Not Rational

It is not rntional to hold that sen- the nation's equities rau thrive national downfall, which is what a

up to $7.20 a bale before the of the inflation would have

Before the Istanbul Confer- sharply higher eup pros-ence the view was taken that when the various measures succeeded In strengthening Today's selling, coming from su

July

Truders attributed the selling splurge to: 1. Woakness at Liver- pool; 2. Growing emphasis on

.course.

Gilts have duly surpassed and there all expratalions,

reason why equities

the Increasing world-wide sur- should not fare equally well, as plus of

they go ex inflation and cul cotton; 3. Uncer raw

future tainty about

domestic sound growth. prices support levels.

over

over President and Dr Adenauer but Committee.

the overcloud world markets visory 12215-1224 week-end, warned that if pre- there is no sign of a slump in

sent production trends continues, either the US

Germany. Some observers in both coun- joverseas consumers, In two or

the uncertainties three

years, will be able to get tries regard

without Importing Q

as a salutary check along

exuberance. single bale of American cotton,

Despite

of rigid "pproval high price

expressed

NEW YORK Futures today closed 110 to mendously dynamte stage and 150 points higher with sales of its numberless applications 184 contracts. haven't

Lo been tailored yet industries suit individual plants.

But this much is certain to Automation, most like the auto, is here to stay,

automation How fant

will sili become commonplace

observers:

A splurge of dealer buying or and covering in the December delivery at the close climaxed a day of advancing prices as traders took

a cue from the London murkel.

Moxicrate quantities of ship ment

offerings from Slam and open to debate. Some bellove Indonesia were reported worked it will bo a gradual process, over the weekend. Others, like Dunn's Review and Modern Industry, feel that

by some partial candidates

One of the themes traders were more affected by Istanbul Conference was

two Southern US recessions nowadays comments

Senator Eastland to be limited. legislators.

the

was quoted to effect that he Tho Federal Reserve Bank of believed the next Congress will New York, a highly conserva- assure that the current surplus tive institution, is remarkably present will be liquidated in an order reassuring about Iy manner

arid strengthening competitive supporting at

factors in the US economy. prices.

With no general election due Senator Ellender was quoted

decade,

is just around the corner, that livery four sheets at 38% and to the effect he beloved there until the end of the 201 its immediato impact will be 39 cents. Spot No. 1 Rss were was not a ghost of a chance Britain's internal politics have

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT, SERVICE

Outwards "CHUSAN"

"CORFU" "CANTON"

Leaves Loa dan

Sailed

"CARTHAGE” 7th December

Via Bouthampton, Part Sajd, Aden, Bomkay, Chiombo, Penang & Singapore

Leaves Hongkong

2nd November 18th November

19th December

18th December Isth January 10th January 13th FebrADO'S Via Singapore. Penang, Colombo, Bombay, Aden, Fort Bald & London

FREIGHT SERVICE

"SHILLONG" loads 29th Det

·

Fonds Sth Nov.

tor B'pore, P. Swetten.. harm, Penang, Colombo, Aden. Port Said, Genoa Marseilles, Havre, Lon- don, Antwerp, Rotter- dom & Hamburg ·

for Ame "SIJILLONG"

Que 13th Nov. from U.K.

sails 14th Nov. Jor Japan

portn

48

With liberty to call at Delawan before or after. Biralts ....

Ports and st Dombay it inducement offers.

Tanks available for carriage of 011 In Bulk. Space for refrigerated cargo. Limiter Passenger accommodation

BRITISH INDIA S.N. CO., LTD.

all 27th Oct.

for Singapore, Penang, Kangoon & Calcutta

dite 6th Nov, from Calcutta, Penand

& Straits salis 0th Nov. for Yokohama, Nagoya

& Kobe

sails 1th Nov. for

Singapore. Chit- tagong, & Kangoon

P. & O./B. I. JOINT SERVICE

In Port

salis 20th Oct.

from Karachi, Bombay

& Cochin

for Japan

duo 3rd Nov. from Karachi & Bombay. aits 4th Nov, for Japan

all4th Nov. for Singapore, Cochin,

BOMBAY,

Khorram-

sjahr & Kuwait

for Singapore, Colombo, Karachi Basrab, Khar- Jamaahr & Kuwait lords 28th, Nov. for Bingapore, DOM-

BAY & Karachi

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

loads 0/7th Nov. for Sendaka, RANAUL, Brisbane, Sydney, Mal- bourne de Adelaide

All vessels fave liberty to osil at any ports on eT off the route & the ronis & sailing are subjecź to change or amendment with or without notice.

seeme no

The International Cotton Ad- Ees

of

or

over-

One Theme

"SANGOLA"

"SANTHIA"

nt the that tenti

"WANORA”

20 20.40 1200 * 2020

14.30

New York, Oct. 21. New crop cotton futures today plummeted to

Textiles 3.70 0.00 1000

0.85

sonal lows, suffering losses only

Nanyang MISCELLANEOUS

6.40

continuance

4.00 4.10 8000 2

0.03

500

0.06

6000

5.10

13000

6.05

market. levelled off to make meant. about half-way recovery. With the easier trend in raw inventories prices, may bring some relief to

Was

At the close the list showed material recoveries up to $4.25 n bale from the lows but still finished pressure on company liquidity. Where, as in steel, prices with net losses of 7 to 59 points.

are higher than New Orleans closed off 10 10 39 abroad

disinaction of home, paints. It

the sharpest break demand should not hurt over- since Oct. 3 when the market age p:cfit margins, plummeted almost a like amount

the

Homewards "CHUSAN"

"CORFU”

al home

"CANTON"

"CARTHAGE”

pects.

Steck

of

Chryder Motory

95

Colgate-Palmolive Co

Commercial Condit

196

Future closings

today

COT120gr Wealth Elec

12

Consolidated Elion

4}

嘻嘻

rubber per lb.

200

Nov.

174

Dec. Jan.

937

217%

Manket erepe

Family Finance Corgi,

General Electric

General Foodza

General Motors

7822 #379%

Of course Just what

no one is certain form automation may take. It's still in a tre

No. 1 palo crepe

1223-123 12134-122 unquoted

12055-121

118-120

113-114

102-104 13444-1331

and foreign Interest, commission sterling and the economy houses, locals and accumulated in reviving foreign confidence, Singapore, Oct, 24.

excellent for weekend hedging, touched aft they should be

frst Instanc Trading in the rubber market industry But

spokesmen

mid-silt-edged a the orders on stop

due too, in Mr was quict with minor fluctua-morning break which pushed and for equities 10 challenge were quick Reuther's fears. They insistexi, tions.

wili were:. instead, that automation

more and cheaper No. 1 goods, in affect makes for more jebs and new Industries which 139% will crop up to supply the re-

No. 2 rubber per 1, 24quirements of outomatie

pro-

NOV

rubber per lb. duction. Further, they argued, No. 3 buci

Nov- nol automation's impact will

No. 4 rubber per lb. affect all industries at the same

Nov time; that is impact will be Spot rubber unbalet

different levels.

Joss

ten points.

#

"SUNDA"

"SOUDAN"

Culejte Safety Huzoor Gidden Co.

4214

3746

Goodrich 18. F. Co

701

Goodyear Tire

Gt

Heyden Chemical

1734

Hestake Mining Co

Ingersoll-Rend

8215

Inland Steel Co.

57

its

Interchemical Corp.

433

pro-

t'i urinusa Maclisier

int Harvester

709%

International Nickel

703

10-13%

"OLINDA"

201

Kains John-Manville Co.

北

Kanm C. Pawer & Light

AMER

10111

and

Liggett Meyers Tub, Co.

Lockheed Aberaft

Loews Intery,

"OKULA"

"ORDIA"

Union

Lone Star Cement Co. Lowville & Nashville Lowenstein & Sons Megabi Iron Corp. Stude-Minnesota Mining

Glenn

121

0121

felt in the data collecting and

quoted at 48% cents.

503%

100%

offee units af, big industries. Future closings" whic; Commented Duna's Review:

Deu.

Aidon Development Mormanto Clienten) Co. and, Montgomery Ward the Motorola Inc.

Mar.

43.09-30 40.40-00

yem.

that Congress will restore rigid some cbvious advantage

the <t

US, Germiny high farm price supports next those

France and other countries. China Mail Special.

over

"ORNA"

Ionds 7th Nov.

40%

May

30.20

NEW YORK

"OLINDA"

July

37.50

Sept.

Deo.

35.00

LONDON

as follows:

The market was very sleady

Spot

Dec.

spot. quoted at 35-9/18

Max.

May

174L

20

30 industrials

20

DU

13 ilities

03 stocks

40 bands

Comm. future price Index

150.84

Comm, pot price index

150,00

2005 | Philips Petroleum

Procter & Gamble Co Pilzburgh Pinte, Glaav

70

1250

024

Moody's bidex

Closing Prices

Alden Ino. Aey.

Allled Chemicals

Allied Mills Inc.

Allis Chatiners

American - Airilno

Ameriena Cyanamide Co, Am. Mach. & F dry. American Metal.... American Smelting Am. Sugar Ref... American Tel & Tel American Tob. "U" Anapenda Copper

Armco Steel-

Armour

309.40

Publieker Industries

3344-35% 354-3312 3-3514. 31-34 327-03 General markets, cif basin porta; October

unquoted has a long way to go. Workers November

341-3314 have to be trained, manage- December

crepe has

Oct. unquoted ment

of the Fetale cut costs Lo

Esaic.

Nov, 303 crepe in Estale crepe thick Nov. 372 now equipment and the con- 013 sumer has to be educated.

AMSTERDAM.

****** 3312-2016 Settlement hour term: be November

July

Oct. Dec. Mar.

in

Pricea of futures closed today as follows:

quiet trading on the London Exchange today.

Market experts

Spot

33.0

little evidence of continued switching

saw

Dee.

4.02

Mor.

31.12

May

31.03

2uly

Qot,

20.70

Pure Oil

331%

Indio Corporation

41

Dec

20.71

20.30

Republic Steel

Keroids Metal

DAAN

Steel Oil Co,

1543

LIVERPOOL

$2215

Saint Heg. Foper

4019

10035 Sinclair Oil

No.. 1 rubber

Future

30%Soceny Vacuum

6352

South Porto Rico Bugar

236

Southern National Gas

331

pops

out the other end,"

to catch a packaged shirt as it

No. rubber

No. 3 rubber

it

No. 1 orope

471

Bouthern Itallway (Com.)

su

obcerved.

31.10

2016

Bandar Brands

301

Standard Oll. of Cal

349

The future, it added.

will

401

Blanderd Oit of Ind.

49 probably bring out automation,

054

Standard OR of NJ.

115

but in moderation.

17

Sterling Drug Ce.

7

Blokaly Vnn Camp,

Automation, it

said,

00

gudebaker-Packaiti Corp.

10%

come not so much is a

tidal

4R

Swift & Co.

45

1431

Texas Co.

Tide Waler Amn. Oil

319

Waldwin-Ama-jam.

Baltimore & Ohio

433

Twenty Cobury Fax Film an

Lond

Tondix Aviation. Corp.

4912

Unloth Carbide

Union Pacifio Railway

longuet Cons

United Aircraft....

Exchange

Tiethlehem Steel

.100

U.S. OVDUTTE

2014

May

1240

Booing Airplane

607

UBL Co.

Borden (The) Co.

UA. Rubber

Zurrouglis Add Machine

Canadian Paciņai R.

Case (J._L.) Co,

Financial Corp.

CSL Tractor

Celance Comp

Chano · Marilián. - Flank"

24 US. smelting

| 139 | Warner. Bron,

mögninar: as the following rates

VB Bleel

,, taular, fper 1)

18

West Vas Pulp & Paper Woolworth

Bierling notes, (por^£1)

Indonesian rupiah" (per 100) Njar ticale (DAF, 1003). Singaporn (Bizalla)||

Australan note", (per (21)W2!

isisiekote" was 33.22 car

đòrta Blind

(82,242 :: lalów/~

stui dimcult to im- The market was steady, gino a factory where you can Prices closed today in ruilders

Lost L couple of cotton balls per kilogramme, elf November

In one side of a Karganlusa as follows:

admachine and then run around

wave but more as a series of

2003 ground swelln-United Press,

3,43 buyers 4.30 buen

31.17-10 g:oup was mainly quiet, but a fow issues gebod £ and War

Loan closed £4 higher.

Industrial moved narrowly. Rolls-Royco, Unilever, Imperial Chemicals

Associated

closings, American Electric managed gains of one 3d buyers middling, in pence per ib, wero 3.70 buyers as follows:: United Press. Old contract Oct/Nov.

to

Howater two shillings. Jumped sharply on favourable Deo Jon. 2016-10 renction to its just-chnounced Mar/Apr..... 24.03 reorganisation plan. I moved

21.60 May/June,

up Ba to 1009,

London Foreign New contract Mo...

Rates Notre

Exchange

Now York- Amaterunin Brusse

Bunker was done in the Soos) | Frankfurt.

exchange market Bus Dispon

BIO Zurich

13.00

Other were. All und

new York: LOTGEN WWW NOG AYKİ

25.50

Egyptian Hamak. 361/Feb. 20.45.

·SÃO: PAULO ;) Future, closings, in cruzolro per kilo were as follows;

Nový

'Olla were stronk, with Royal Dutch

10s higher to lead the advance. Other had gains of 1..1 or 3a haren were largely

Miriing a falan

For full particulurs apply to:- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos, 27721-4.

MESSAGERIES

MARITIMES

PO. Box 13 *** Queen" Building K-Tel: 001

FAST PASSENGER/FREIGHT SERVICE TWELV

MEMO Bailing Nov. 5th "CAMBODGE"?

foreign bonds, German Reich Loans and Polash bonds."LAOSZ fell

£1. Japanagollens, had "VIETNAM” amallos Tokyo Electric dington-assented, was a major lower/

£1 lower. closing. KERTurnover, was light, bargains Jaited 1,951

United Pr募集。

Sin the United States, & the javortigo price/ al

dation SEKE

Balling Dec. Brd Balling Doc, $1st

SERVICE

mailing Nov. 7th sailing Dec. 9th

from industrials

into British

governments. The

government

FAST:

with "INDUS! ded. "MEKONG”

Non-ferrous metais

ranged to more than 2 points Kennecolt Copper

in Revere

Molybdenun.

Cupper

For rails, the best gain in the leading group

came in Preific, up more than 3.

Activity centred In baker-Packard, US Steel, Martin, Jones & Laughlin Pepsi Cola, all higher on day.

of a total 1,145 issues traded, 600 were higher, 315 lower.

New York Stock Exchange bond yclume was $1,040,000.

National Cash Heg.. National Distillers National Dairy Prod.

National Lead National Steel Corp. New York Central Olin Mathieson

American Stock Exchange On Elevators

volume was 740,000 shores,

Owen-Illinois Class Pacific Gas & Elec.

Dow-Jones closing averages Pacifle Western Ou

were:

Pen American Airways Paramount Picturen

460,32 | Parke Davis Co. 152.00 Penny J. G. Co.

0201 Penn. Salt Cu.

163.27 Philip Morris

18

10

072

44

44

Breakthrough

Locally.

small factory buy- iting Included some January de-

"The next decado will sco breakthroughs in automatic processing and transmission of vital business data beyond the imagination of management to- with day. These will be of such im- pence per lb. Prices: portance as operating tools that No liss spos will whole organisations

4u recreated and now

4015formed for new departments, December

Jan./Mar. Apr./Jime

Business Week, on the other July/Sept.

still automation hand, insist

30.80

Prices of futures closed today

NEW ORLEANS

31.15 32.03-17

31.05 31.17

29.00.

London Stock

Market

London, Oct. 24.

Most sections failed to show a definite trend

20.38

2015

"NELLORE"