1955-10-26 — Page 9

TRADE

THE CHINA MAIL,

WEDNESDAY, OCTOBER 26, 1955,

and

SECTION

COMMERCE

China's Foreign Trade Drive NEW YORK Britain Leading

WORLD

RUBBER

PRICES

New York, Oc!, 25. Rubber futureg Malay elect 20 to 80 pobla higher with sales of 310 ventracts.

A higher conamplion report nich covering by recent sellers put priers un an upgrade after a mixed stort,

Total

tons

wika

domestic

consumption

in September of 128,226 long construed bullishly. Statisticians figured The total might run trilor August in

view

days

effect

fewor of the

In September,

working

The

the

of the muth-to-mouth

increase of 7,000 tona was tradi

fied. The

turned

closed.

jockt Strut mulcer

caster after the

der

Spot No Hza were gitated hi

44 i cents a pound).

Dec.

Mai.

May

July

Sept

Dec.

SINGAPORE

Futures

4330 412-30

46

J7 20

290 00

The market opened stenciler

advice azick

on better oversens

[1

cased later es profit-taking, closed denty on runours pend-

ing packing strike in Singapore

Futures

Na 1 rubbel 4 New

No.

Ne

3

No. 4

rubber ver Mi Nov

Brod rubber unhaled

Blanket erEDE

No. 1 pale crepe..

Dee

1345-21, 12-12

unquoted

120-11

121-12415 102-104 130-137

113-116

LONDON

The market, was firs spot quoted at 354; perer per

1b. Prices:

Settement house

BUT

BLOC WILL

SOVIET BLOC

BE CHIEF BENEFICIARY

new world,

London, Oct. 25.

During the past few days China has begun making efforts to increase trade with the non-Communist

says the Financial Times,

Next year, it is planned to increase China's imports and exports by two-thirds of their level five years ago, wher the Chinese economic overhaul began. The Soviet Union and its allies--retaining an almost complete monopoly of Chinese foreign trade-will be the chief beneficiaries.

10TH GATT SESSION

TOMORROW

Geneva, Oct. 23. The 18th session of the contracting parties to the General Agreement

ונו

But it is hoped that countries Londende the Soviet ble will ex- end their ruling relations with effort: China,

particular, have been made to revive trado with Japan, which AB1 not nly far below {se- prewar volum, but even below the 1950

!

According to a statement bas

week by the Minister of Forehan Tinde, Ye Chi-chine, rode between Chuna and the West bas

HONGKONG STOCK EXCHANGE

WORLD

COTTON MARKETS

today

STOCK MARKET

Prices softened on

In Ship Building

London, Oct. 26,

Britain, West Germany and the Netherlands, New York, Oct. 25. in that order, had the largest number of ships the building in the third quarter of this year, it was stock exchange today with announced today, |Industrials losing 2.42 on

average and rails 0.66.

The biggest losser came in

Official figures issued by Lloyds showed that New York, Oct. 25.

at the end of September Britain was building 346 Cotton prices steadied after a sharp fore-recent strong features with the ships of 2,147,057 tons gross, an increase of 65,523 noon decline carried the dis- main body of stocks moving tons on the previous quarter. She is now building tant new crop deliveries to only a fraction either side of 34.2 per cent of the world's new tonnage.

seasonal low.

Recoveries from the lows re- flected relative firmness of the nearby December contract plús buying on technical reasons and I better trade demand at the lower prices.

than After declining more $3

the Dulu market recovered re than half way to close up more 7 10

23 down

points. Thi inarkel opened up 6 to down 50 points. Now Oricans closed u 8 is down 42 points,

Another sharp drop in the certificated

plus heavy under producer

channels

en when the peak harvest-

stock, Impoundings the government long, and the impression that the supplies in commercini

may Lighten

eted a Is over.

The bolster the spot month. certinented stock deelined 2.420 on the Honghales to 18,208 bales, Business done

Exclung 43535 Stock kong Inorning amounted to $520,000.. We Noon

ciations morning's transactions:

grade zome progress in the paid (From Our Correspondent) inu sem si, It was agam larger!

inontile of the in the first six year than in the corresponding period of 1054

New Products

eletrie

arct

the previous

Orders outstanding--for ships

increased by

Sicel prices backed down as on which work had not yet the time approached US

for the

In the quarter to

Steel directors meeting, begun-had also Big Steels' Board, after the 4,437 tons market closed here, boosted the 1,320,160. dividend and reported record

аль the Lloyds, commenting sales, earnings and shipments slight boost in outstanding for the first nine

was the first months of orders, said this the year. US Steel, off is point checic in a stendy fall from a at $56, Bethlehem, closed off peak Agure of 2,684,203 tons In 1% points to $154% after being | September 1952. up more than 3 points. Motors also sořtenud.

1,033 ships of 4,138,042 tone in nob-ferrous metals, wero being

built in other Rovere Copper fell nearly 3, countries of the world outside National Lead two.

Britain. This was a rise of Oiki wore mixed with most 119,042 bons on the previous Charures small,

this excludod quarter. But Good earstings lifted Sober-China, Poland and Russin

ing Corp. more than a point.

Rails moved in a very nnrow range.

for which no figures were available,

Germany Second

Of a total 1.234 issues traded, 511

were lower, 300 higher. Weakness elsewhere reflected

Exchange York Stock New the

West Germany remained thu the routined uncertainty over

bond volume was $3,000.000. support future parity price

biggest ship- Americun Stock

second Exchange world's

nation although level and the growing emphacis

building volume was 690,000 shares.

Head had been cut. She was SHADES DUYERS SELLERS SALES being placed on the accumula!~ surplusca of

ships totalling 250 closing averages building

713,830 tons, a drop of 98,102 tons.

JAM 51

-< (3

worki wide Inx raw cotton.

List of

INSURANCES

Emi

Lautarti

K Wharf

Provaleat 10) Wherlock

70 71

2020

300 5000 19% 15.70

930 9.40 2000 1000 1000...

18 1900 4 1000

1642 200 0415

110

04

Tariffs and Trade will open The Minister gave

available I line now at Geneva on Thursday.

Tw'y include chilled between export, is expected to last

and froze bol and mution, five and six weeks.

medium

small-sized DOCKS, ETC and

motors. Įmachinery,

D diesel engints, elemicals, news- light products print, engineer ins

Ewing nachts and blcycles, building

terials and they commodities LAND. ER RK Butel China. 1 2 ever exported before by China.

Newsprint, inade by

can-

The

t,“.S

No. 1 Raster

Dec.

Jan/Mar

Apr/June

July/Sept.

3344-357%

3316-3321 35-35% 342-344- 33-33

wusslan

meeting of the

A number of with fracting parties.

be dealt with la meita arire gularly at ench GATE passion wich ab, for instance, the

con alitakana WLEN

1.3 #

reguler

countrica

Nov,

Dec.

General marketu, cif basia, porta

33-333

Estate Crepe thin Nov

thick Nov.

AMSTERDAM

731-354

303.

37

stendy.

The market was Prices closed today in guilders kilogramme, cir Nov, as

per follows:-

No. rubber No. 4 rubber

No. 3 rubber

No. 1 crope

342

3.40 pacel 324 buyres 3.72 vert United Pre

London Stock

Market

whaleh

PULVE

vbtained

under the agreement.

Asian

such

tu

UN

the

נוןTra'

Dow-Jones

were

30 dumrials

435.40

20 ralla

181.24

15 utilities

.70

new were distant

# stocks

102.03

40 bonds

98.60

Comm. fuare price

index

161.30

Coinm, not price index Moody's Index

189.29

206.70

Liverpool traders were delive on both sides of the market, reportedly undoing old straddle

placing 25 20

und 15.60 positions

Forchen brokers 9.35 spreads.

the 930 active sellers of P.39

mond, particularly July and October. Local traders, commis- sion houses and trade interests con- also were on both sides, 3437 solidaling market positions after

decline. sharp the recent

Harvesting of the remainder of the crop proceeded rapidly in the main bell this week under fair, sunny weather, the govern ment weekly summary reported.

northern 1200 4 21.80 western Oklahoma and northern

500 22.70 000 o 17.70 Texas will defoliate plants and the use of mechanical 200 or 425 pernit 1200 42 pickers, volume

the report also noted.

220 2.30

1.83 1000 300

100

24.30 500 to 24.46

DOO 24.30

50 & 113

which retain ungkut restriction Foochow Puper Mill, has already for balance of payments reasons bean cxported in sinal quaati- ; RUBBER

Realty and there havo and consultations with countriesties to India

A. Rubber waivers also been quite recent reports

Print from certain obligatrons assumed deliveries light machinery |

Chica

Southeast UTILITIES Southeast made

ian countries. The catalogue

Yaumati Ferry 113 114 sessions, the of goods to be shipped to Egypt As at previous

C. Light 10 22.00 ContactLag parties will

oon-by China under the recent Trade ster complaints against T- Agreement, which has now be

eer countries

detail, even published by

In considered which

to skul bars and various kinds of construction steel, lather, "dify or pair the benents guaranteer at earlier scations

metal-culting, milling, Krging. and reports will be made at this pressing and mining machinery, INDUSTRIALS session on the progress made

cranes towards resolving them. Other equipment, automatic telephxmo cotton a complete complaints may be considered for exchcantes, the first time.

spinning and weaving ndil, papar mili, sugar refinery and a flour mill.

stabas

Taken

Simplification

Progress towards the similcu- Lem of vertain aspect of custom

will, as usual, bo formalitica

London, Oct. 25. Scattered gains among reviewed. industrials marked an irre: gular, quiet session of the London Exchange today.

us

and other

داوار

Frosts over"

and

and

open 130034 Interest in the Exchange today

Electric

Light (N) 17 00 17.80

42 43

Macar Elec Telephone

12

344

33 700

343

were:

Cement

STORES, ETC

Dalry

37 31%

Menth

Bec.

Volinne

33.34

Open internat

(30,500

Mar.

37,000

301,000

il

10.90 20.10

14.70

100 m 20.23

May

220,400

500 DE 20

July

14,00

540,900

Oct.

11,200

121,700

4,400

04.000

1,000

11,100

construction

As articles of this kind make up the bulk of China's imports in the Cammuuist bloc, kome the arranged shipments may in actual ct bo Chinese Axports.

Watson

COTTONS Nanyang

MISCELLANEOUS

Vibes

Allied

23.30

5.90

TC-

To keep up the fast rate of China's

Industrialisation prq- A special task of uns session |gramme, a sharp rise in imports upon the pro- will become necessary. This, wil be to act

!the

inter-sessional P-sals

In turn, will mean indie agricul- bargaing Only 8,410

were working party for the holding tural exports, which have al- recorded.

investory held of a tariff negotiation conference

ways accounted for some 80 per for which would spen early in 1966. cent. of China's foreign trade. back while they awaited

contracting parties moy although China eun hardly The tomorrow's presentation of

budget

consider inals

situation afford to dispose of food abroad supplementary

which has arisen in regard to just now. Parliament.

Engineering and steel shares the reeunt accession of Japan and the invoking of Article 35 by found support and turned in a

Kurteen governments. fow gains. Rolls-Royce climbed 2s, and Unilever closed 25 60

Fairy higher.

on a roport.

Aviation

was

the

40

2004:23.70

6 40096

2000 5.05

New York Sugar Market

New York, Oct. 25.

futures World No. 4 sugar closed today 2 points higher to 1 point lower with sales of one contract.

Exchange Rates with sales of 30 contracts.

While no additional sales

*od

Mar

Tutal

132 200 2,000,000 balen

Closing Prices

Allied Chemicals

Allied Mills Inc. Allis Chalmers

Anierican Cyanamide Co. Ani. Mach. & F dry American Metal American Smolung Am. Sugar Ret, American Tel & Tui American Tub. "1" Anaconda Copper Armco Steel Armour

Baldwin Lima-310m. Baltimore & Ohio Bendix Aviation Corp. Benguet Cona.

Bethlehem Steel

Boring Airplane

Borden (The) Co.

Burrough Adat Machine Canadian Pacte R. Oso (J.I.) . CIT, Financial Corp. Cat. Tinctor Celanese Corp. Chase Manha Chrysler Motor Colgate-Palinative Co. Commercial Credit

Bank

Prices of futures closed today Commonwealth Kles.

NEW YORK

na follows:

Apct

Dee.

Mar

May

July

Dee.

Mar.

30.200 33.00-01

31.00

**

20.39

29,15-20

29.8:1

NEW ORLEANS

Cosmolidated Edinon Continental Oil of Del. Continental Steel Corn Producte Crano Co.

Crown Zellerbach Cubum Amer. Sugar Curtin Weight

Plamond All

Dow Chemicals

Dupont de Nemours

E1

Prices of futures closed today Pterans Konic ins follows:

20.20

National CaY Erle Railroad

Family Finance Corp.

General Eleetzlo

General Foods

General Motors

in world raws, middling, in pence per lb. were lomatake Mining Co.

called

sur

Tiure are 35 contructing

were reported in the locn) Businers Was done

understood a leading this dealers exchange markat unofficial another bright spot, gaining 45 parties to the GATT and it 13 that. in edition, # favourable earnings expreted

morning at the following rates:

British refiner has 0.78 1.8. dollar (per $1) number of non-member govern-

15.58 tenders of Cuban Sterling notes (per £1) and Inter-governmental | Australian notes (par £1) ments

13.10 morrow in blocks ranging from Indonesian rupiah (per 100) agencies will be represented at

50,000 to 160,000 tons covering Slam tesla (per 100) Singapore the session,--United Press.

1.00 delivery periods in 1950. (Stralia)

Shell and

British Petroleum sparked a moderate advance in the oily soellon. They moved up 19 Gd. But Royal Dutch skidded £%.

stocks British

Government

opened sluggishly, and profit- drove several

issues

taking lower. Gold shares and cop- pers showed strength early in

the

Bession, and

dollar stocks

also managed some gains.

German

bonds fell back, with

Relch and Potash Larns off £1. Japanese issues were mixed, but gains and losses were con- fined to a tow, shillings-United Pross.

13.70 21.80

US Companies Hit

Record Levels

Washington, Oct. 25,

Her

closest challenger

her

WOR

st the Netherlands, which was building 140 ships of 679,002 tons but this also represented a decrease of 4,835 tons.

Italy, France anıd Japan, which followed closely behind the leaders, all showed Improve- $1004ments over the previous quarter.

2013

There were 66 Japancer ships 501 of 573,871 tons under construe- tion, a rise of 87, 730 tons, the was building 12 United States

drop of ships (69,700 ton) a 75.510 tons-Reuter.

1701

Chicago Grain Market

US Steel Corp. Dividend Up

New York, Oct, 25, United States Steel Cor- poration today raised its common stock dividend and reported record sales, earnings, and shipments

for the first nine months of 1955.

The dividends for 1955 after this boost will bring оп 52.15 A xbate common stock.

to

At thint figure, Steel" will pay out 3114,- 878,520 in 1955, a record record high in

the com- pany's history which dates back to the

beginning

the century

of

The company's report elimaxes the

most fabulous nine months in the history of the steel Industry-

automo- period in which bile production, construc- tan, and many other major lines set now records.

In Tho

nine mouth US Steel sold

period, $3.403.005.411 products,

of ita

the first time sales for that period have exoreded the $3,000,000,000. ---Volted Press.

World Bank Loan To Japan

Japan.

да

Washington, Oct. 26. The World Bank today Chicago, Oct. 25.

nounced a loan of $5,300,000 to Most grain Autures soki 1 to 2 assist financing and modernisa cents a bushel higher on the tien of steel plate rolling fncill- Board of Trade today with supetes of the Yawain Iron and Company Limited of port from short covering and commission house buying.

The Bank announcement said: "Modernisation of

stcel the industry is of basic importance to Japan's internal economy and export trade and thus to t

a stronger and 10

Today's lous

The

advances oleo reflected smaller receipts of graing at terminal markets and hedge seting, dealero said.

limited

brought

the

Nows that the government efforts plans to buy up to 170-million more pounds of pork and 30-million pounds of land during the next 10 amount which the World Bank 212 months in a move to boost do has lot to Japan to $46,500,000. 24clining hog pricos brought buy-In 1953 the Bank lent $40,200,200 ing of lard and vegetable oil to the Japan Development Bank to help finance the construction The futures toxiny.

of three high efficiency thermal

7956

201

public utility

Recent statements by several electric power stations by three 374 candidates for Democratic Pres- Drivately-owned

dential nomination calling for a return of rigid 90 per cent of 30 parity support prices for basic to replace the present flexible also influenced plan Zutares prices.

Spot

31.10

Dic.

33.000

Mar.

31.01

May

31.01

July

20.70

The

domestic No. 6 closed unchanged to one point lower

Oct.

Dec.

20.00

Gen, Pub. vul. Gilletts Safety Razor Glidden Co.

Mar.

20.83

LIVERPOOL Future closings.

Goodrich (B. F.) Co. Goodyear Tira

72

American

Heyden Chantent

17.

Ingersoll-Rand

for to-

ny follows:

Inland Steel Co,

Old contract

Int'l Business Machines

300

Oct/Nov.

31.16

Int'l Harverter

20.30

International Nickel

21.00

International Paper

1041

May/June

58.45

Int'l Tel & Fot

Now contract

Jolin-Manyule Co.

May/June

20.00

Kansas C. Power & Light

July/Aug

24.00

Kennecott Copper

108

nk cotton

Liggett Moyens Tob. Co.

09

Jan./Feb.

39.10

Lockheed Aircraft

SAO PAULO

closings, in crizieres per kilo were as follows:

Loews Incorp, a

Lone Star Cement Co.

Louisville & Naahvlile R.

Lowenstein & signs.

riov,

20.00

Membl Iron Corp.

Dec.

20,40

Monsanto Chemical Co.

Mar

May July

said Dealers

the British

Dec./Jan,

Mur./Apr.

refiner wents to base prices on Egeylian Karnak

a

ten-month

market average, similar to its purchase arrange-

for Dominican monta

raw Future

13,00

31.50

31.00

sugor.

The British refiner's purchares of Cubans this year have been below normal, partly because it was able to draw on the British

In the United States, the stockpile for part of its require ments. Dealers said Britain is average price of 15/16 middling 14 dedignated spot not expected to permit any cotton ni further drain on this reserve, markets was 33.23 cents. Salca

totalled 88,205 Press. Futures:

March

July

Contract No. 4 (world)

3.17

3.18

3.20

3.10

Spot (cents par lb. fob Cult)

Open interest: 1,358 contracts,

Contract No. 0

2.30

0.30 $.43

BA1

The

steel, booming

construction and automobile industries carnings and profits of New Rubber manufacturing corporations hit record. levels in May the second quarter of 1965, the government | Sept. reports.

A joint report by the Securities and Exchange March Commission and the Federal Trade Commission May July Rises In US showed profits before taxes were $18,900,000,000 Beut.

in the first six months, up 30 per cent from the same period în 1954.

Consumption

Now York, Oct. 25. Now rubber consumption

Earnings after taxes during However, the amount of earn- the United States last month

first six montho were ings retained by the corpora- totalled 120,228 long tone, 6.4 the

$1,900,000,000 per cent more than the 121,081 $7,200,000,000, 31 per cent higher tions rose from tons uped in

the first quarter 10 $2,400,000,000 August and well than the first half of 1004. above the 100.258 ton con Salca ·Amount od to in the second throo

months sumed In September a year $135,600,000,000 or $12,100,000,000 That was a record for retained ngo, according to the Rubber higher than the first six months earnings, the report noted.

of last year.

of

Bput-icenta per lb, cit NY.

x-duty) Open interest: 374 contracts.

bates.United

Singapore

Stock Market

Singapore, Oct. 20. Brokers today

quoted 6.55 following stock prices

United Press.

London Foreign Exchange

Salts in the All 23 industry groups cover. Now, York. Mamutocturora Association,

Consumption of all types second quarter roached od by the report showed guine Montr

the in anles except for an eight per Amsterdam syntheile rubbers amounted to $70,000,000,000, exceeding 76,875 toru, up 4.2 per cent from previous three months record of cent decline among Instrument und

Copenhagen August, and 41.8 per cent above $68,700,000,000 set in the second producers,

quarter of 1959.

Total assets of the manufae Tankfurt Fue, the Arst nine months this Cash dividends of manufacturing corporations 00:39,000 on yours this ratio was $7.8 per turing corporations in the 099,000 by Amids year from the cent, somparmi with 51.4 ber second quarter remained at the same period in 1904 to a rotora cent in the similar. 1954 period. name $1,400,000,900 level as in of$178,000,000,000. United

United Pron.

the fret.

Bogen pe

Betu Lintang Stubber Co. LAQ. $1.00" British BarneD Petroleum

Hongko

Bank

Minnesota Mining

Montamery Ward

Motorola Ine.

National Chali Rog. National Dairy Prod. Nationel

Distillers

National Lead National Steel Corp. New York Central

Olin Mathieson

Oils ElevatoTR

Paolo qua

tiec.

Pacino Western Qli.... Pan American Airways

Paramount Pictures

Parko Davis Co. Penny J. C. Co. Penn, Salt Co. Phlip Morris Philip Petroleum Procter & Gamble Co. Pitsburgh Plate Glass Publieker Industries Pure

Radio Corporation

Bhell Oit.Co.

Balet Iteg. Paper

Bocony Vacuum

the Repubile Steel

Opening

Binclair Oil

Sauth Porto tico Bugar

C TIN Bmelters

Ord. Framore Noavo Ltd Ord. Fraser & Neava Liu 7

Southern National Ge

20/

$1.07

Houthern Railway (Com Blandlard- Brande

cun.

Standard Oil of Cal.

$0.20

Biandard Oli at Ind

Standard Off of N.

Corp.

$000

7/00

Brudeboker-Pickard Corp.

London, Oct. 24,

Lubs Rubber Estaice Ltd. Malazan Breweries

$1.50

New Brandon Rubber

he

40

Binapore Cold Biörükle

United

Dihors were unchanged. New York foreign exchange. Inter were doi available,-Unjied Press.

Kempas· Ltd.

Bwith Ca.

Texas Co

The Water Amp. OIL yo

Twenty Century Fox Film.

$1.50 Tan Carpe

Union Pacific Hallway United Aircraft

$20.00 UH. Smelog

$15.50 Warner Bros

Woodworth

grain

Joan was made to the Bank, a Japan Development Japanese Government agency established in 1951

to supply long-term credit for Industrial development and to act as

bought 900,000 medium Greece bushels of US hard wheat for guarantees

#

a

for government of private foreign

30% November shipment, but Japan borrowing. The Japan Develop- went to the Canadian market ment Bank will relend the the for 3,850,000 bushels of wheat, proceeds of the lean to

United Press.

Yawada Company-Reuter,

Let US handle

YOUR PRINTING

PROOF

generally

Too many proofs mean time wasted. Wo grasp the point at the onset and

ONE

sufficos.

After that, our up-to-date automatic presses make short work of the job,

Let us quote for your current

requiremente.

SOUTH CHINA MORNING. POST PRINTING DEPT.

of every description Téléphone: 20002