THE CHINA MAIL, THURSDAY, NOVEMBER 3, 1955.
RADE and COMMERCE SECTION
Alleged Dumping Of UK Pipe
New York Stock HONGKONG In America
Market
New York, Nov. 2.
Stocks moved higher in routine fashion today
with metal shares the best performers.
Trading was light. Turnover totalled 1,610,- 000 shares, compared with 1,590,000 yesterday,
Gains in the
metals ranged to use thum 3 pants In Intr- national Nickel, more than 2 Inspiration Copper and 1h 1px In dge with the 1st tempeng to good dividend news. General Foods 1992 other 11⁄2 pomt. as the compuy inereused H dividend,
Plistkule runn
WORLD BANK
Egypt Attacks Proposal
United Nations. Nov. 2. Egyp! today atacked a pro- posal that the World Bank be given a place on the proposed Special United Nations'
Fund
nearly # chividen i
471 4 stock
Chryster feature, namung the lembers with
gain of
14. Motors dipped true- Generat tonally
In steels, US Strel improved a bit. Bethlehem backed down
lightly, selling ex-dividend.
United Air Lines los nearly o post on news of its al crasti
Rails hurt mostly small gales Ingong to polt In Sania F Of to a 1,108 issuek ap- !peuring. 470 higher, 367 lower
toi-
The day's runet belive issue was Westinghouse Electric, lowed by Fruchauf Trailer.
Stock Exchange New York bond volume was $2.702,000.
American Stock Exchange vo- ! lume was 640,000 shares.
Dow-Jones
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange Jits morning amounted to $710,000. Noon quolations ind the morning's Transactions: SHARES BUYERS HELLERS BALES
BANKS
Bank
INSURANCES
Lor
SHIPPING
waterboat
DOCKS, ETC K Wharf Dock Provident 10) Wheelch
LAND, ETC
1078 14425 10 1 1000
17
M
50
23 201
50 114
20
15
1920 2000 A
1000
$ to
Treasury Ruling
Will Mean Special Duty
Washington, Nov. 2.
The US Treasury Department has announced a finding that British_manu- facturers and exporters of soil pipe are "dumping" their product on the United States market in violation of the US anti- dumping law.
The Treasury said its findings were based on a majority opinion of the United States Tariff Commission "that an industry 100024 in the United States is being, or is likely to be, injured by reason of the importation of cast iron soil pipe, from the C. Light 101 21 50 22.16 2100 210 UK at less than fair value."
14,
HK Hulet MK Lond
+
TO
Humphreya Realty
UTILITIES
Train
30 00
24
110 38
Yournals Ferry 100 109 1500 © 100
C LARM (N)
Electric
1200 21
37.40 1000 17.20
11.00
300 6 1/20 ... 40% 1200 4035
1500 @ 401% 1000 ₫ 40 Macay Elec Telephone 12% 33% 2600 m 33%
INDUSTRIALS
Cernent
closing
averagts
were
Industrials
43-4.12
BROJN
Arhx
140.00
63.00
02.02
|
40 bends Cortati
Moudy.
future pree index * pukev rades
aticle k
130 74
ftope
400 00
STORES ETC
19.30 1000
Watson
14,70
for Economie Development 70 (SUNFED) because this would subject the fund lu bankers who are interested In making money."
Dr Matuncut 1 Aus bid Econo- the General Assembly's mic and Social Committee that the "bankers mentality" of the World Bank is opposed to concepts of SUNFED
eks to help coun.rics
20
the which
Closing Prices
Allied Chemicals. Balla Chalin under-developed American Airline
thought of
American Cyabamie Ca All Mach. & Fury American Metal
withou! "something in return."
The committee is considering
report on
the creation SUNFED,
international an agency which would offer long- fern, low-interest loans to the non- less developed states for But liquidating projects which would not produce a quick s steady return on capital.
The Fund would require ID- itial capital of frem $200,000,000
$250,000,000,
Dr Anis, howCVET, suppor'ed the report
Amerlean Suchting Am sugar tet Armeen Toi & Tel Auer Tub Anaconda Copper Arm Steel
ArtBut
Lima-Ham.
SLUNI
Z
40.
1452
121
Bailiumite & Cho
todix Aviation Curp
49
nguet Coon. Bethlehem Steel Ro
15%
140
63
63
291%
Boeing Airplane... Burden (The) Co.... Burroughs Add Machine Canadian Pacific f
(J. D) Ca
Financial Corp Tractur Chase Manhat
Bank theChile Cupper...
Chrysin Motors
lat- Mate
Ort
whole especially since it urged in setting up imanedinte section
the fund-- United Press
BAGHDAD
GOLD DEAL
Beghdad, Nov. 2.
Colgate-Palmolive Co Commercial Credit
2014
36 1100 30
1100 26.78 17.30 1017
COTTONS
Texte Corp, 5.30 6.75
MISCELLANEOUS
Allied
$140
500 47
Chicago Grain Market
Weather
The Treasury ruling would mean that a "special duty" will be "levied on importations of cast iron soil pipe, other than American Pattern' cast iron so pipe, from the United Kingdom which are sold at less than foreign market value os deined by the anti-dumping ect," the official announcement said.
Unique Decision
The decision Was
unique 80 inesmuch as it was the first time the Tariff Commission had ever
Acid that an industry in one of the 48 states-in this instance in ChBfonda--Was being harmed
by foreign imports. Į
The special duty to be im-:
the Customs Burcku posed by
shipments of British cn future pipe
would be in addition to the present duty and would
raise the price of the imported British product to that of the California- bunufactured pipe. The decision was also the first time the Tarif Commission has backed an initial Teasury finding of dumping.
The
Chicago, Nov. 2. Bureau forocate for cold waves over large areas of the Midwest farm belt and winter wheat beltį put firmness the most grain futures on Board of Trade today.
Feed grains beeßted because cvid
weather and snow are ex-
Counsel for the British pected to bring increased feed-
ng of animals on farms.
sel pipe importers later critic'sed received the Treasury Department ruling Wheat fu ures iso support
the Banquet – į In a statement, the Counsel, ments that Yugoslavia was au-Sharp and Bogan, said, "import
pipe have totalled ised to buy
the than four-tenths one per cont northwest farmers were holding of United States productionless
than uack surplus whiat unul
500,000 dollers worth of The turn of the year for income parts compared to more than :60,000,000 dollars worth of US
from
11 milion this 40 bushels of US when, und
30
47
Th
| Communwonlik: Elec
(xd
40%
Consolidated. Yalisem
Continental Us at Dei
*
Continental Steel
Curn Product
2043c
Crane Co
Crown Zellerbath
01
RX reasons.
Cuban Amer Sugni
10
Curtis Weight
25
Diamond Aik
10%
A
Dupont de Nemours
Dow Chemtrais
Easinan Kodak
El Paso National Gas
Erie ItalruNK!
Irug has been afforded facili-General Electric
ties to buy gold for cuITENCY TO
General Motors
the extent of five million dinara, Con. Pub. Uta. under an Anglo-Laqi
the agreemont,
here.
Thic
21
after
Early selang sybeats - Alevied highir estimates for the
have increased US producers rival cot.on crop, but short
their profits, boost to their production, 214% covering later gave
#h2r sales, and their profits prices.
year since the imports Wheat closed up to 15%, every couts; soybeans (now) up to started coming in from Britain,"
Not Safe
Prices per bushel in cents
80
*
Family Finance Corp
401% cents.
General Force
B4
133%
CLOSING PRICES
Ananela Glotte Safety Razor
of Glidden Ca Minister
Goodrich B. F.
40%
38
Wheat, No. 2, red
Arpoi
Dec. 203 (11) 201(2)"
Mar
Max
207 203-1 2009- 2004
478% Curn, No, 2, yellow
103
Whiskey)
15012
iniporter
13515
1974
Utiiness with
13
Finance, Dr Dhin Jafar, has said Goodyear Tire
was Heyden Chemica agreement reached in London last week, Dromatake Mining Co. Jatar added.
Ingersoll-Rand
and Steel Co Interclean.ent Corp. Dr Jafar said the agreement Im Harvester
Interio Nickel for a period of two teretion Poper would be years, during the first year of ni Tel & Tel
three the
million John-Manville Co. £greement dinars worth of gold wou'd be Kennett Copper
Liggett Moyees Tub. Co. made available, and two million Eckheed Aircraft in the second year.
also agreed to
necessary, 40%
Leews Incorp
Lone Star Cement Co
Loulaville & Nashville 11. The British Government had Lowenstein & Sons
provide, which Mesabi Iron Corp. two million dollars Minnesota Mining
Minion Development to the Mesanto Chemical Co. obligation
Monetary Fund, Montgomery Ward
Motorola Ino. which at present is paid in National Cash Ret. A sterling. Dr Jatar added.
Iraq's International
The British Government had
National Dairy Prod National Dirtiers National Lead
sational Steel Corp.
also agreed to Iraq's demand to New York Central increase Iraq's collar working On Matheran
Cilla Elevators
balance which et present 19 Pacino Goa & Elec. volued at £2,000,000.
Dr Jafar also said that Britain had agreed to admit Iraqi dates into Britain free of custom duties
facilities against Iraq's reduced customs duty, on certain into .imported British goods Iraq China Mall Special,
LONDON METAL
PŘICES
London, Nov. 2:
Packie Wertern Oji Fan American Airways Paramount, Pictures Penny J. C. Co. Penn. Bolt Cp. Philips Petroleum
Procter & Gamble Co.
of. Pleburgh Pinte Gina
The tin market was barely
:
Publiciser Industries Radio Corporation Tublic Stool
Reynol
Metal
hell Oil Co.
|Bindair Oil
Bocony Vacijin South Porto Rico Buar Bouthern-Nətĺpsal, Gas Southern Railway (Com.) Kandard Branda
Standard Off or Caya (xii) Standard Oil of Ind.
andard Oll of M., Alerging Drug.co. Blokety-Van Camp. E1udebaker-Packira Carp. @vin 2 Col
steady. Other motals were also a C..
steady. Prices closed In sterling
per long took flows:
Tin pol
monin
Nov.
half ob
Loadi Zino ist half Nov. Eino
Ti60 Waler Amm. 011 Twenty, Century Fox Fim
Uniors Caride......
Union Pacific Railway
bayers sellets United Aircraft
T
754
771-1.8. Cepekám
6 U. B. Line Co.
U.S. TRUDNY,
MARS 200 |VIR, Amaming
83 July
Pet Hept.
77 Spot
WORLD RUBBER PRICES
Singapore, Nov. 2. The rubber market opened weak and steadied later on sheri covering. There was a large turnover and the market re- mained
steady towards the close. Fu.ures:
No. 1 rubber Der Ib.
November
Stormber January
118-110 unquoted Ná. 2 rubber þar ib. Növ. 113-114% No. 5 rubber per 1b. Nov. 113-113 No. 4 rubber per 1b. Nov. 101-10
11836-110% Spot rubber inbaled... Mianket crepe
98-99 120-10
No. 1 pale crepo
NEW YORK
Futures closed today 276 to 300 points lower with saves of
S02 contrue.s.
BMC PROFIT INCREASE
London, Nov. 2.
Net
British Motor Corpora- tion Announces a Troup brom of £22.333,776.com- pared with £20,050,027 The previous .. year. Proat, £10,498,999. Final dividend for the year end- Jag July 21 lis 83% per oem on capital which has been increased by a free lasuo of one share for every eight shares held.--United Prest.
Union Leaders Hold Talks On Rhur Industry
Bonn, Nov. 2.
Two leading West German trade union leaders are now in Luxembourg for talks with officials of the European Coal and Steel Pool on the proposed decentralisation of the Ruhr Coal Sales Organisation (GEORG).
The ECSC held that GEORG infringes the anti-cartel regulation laid down in the Schuman Plan treaty. However, the German miners' union NEW YORK strongly opposes decentralisation measures, and
COTTON MARKET
the mining industry considers some centralised marketing system essential.
The union officials are stuting Their case prior to talks between the High Authority, the German Minister for Economic Affairs, Dr Erhard, and representatives of GEORG,
New York, Nov. 2. Moderntely active and mixed trading in
today futures steadiness in nearby months concerning proposals to be sub while later deliveries drop- ped to seasonal lows.
Six Subsidiaries
Nolther the Economics Mint- colton stry nor the trade union have featured made an offelal announcement
The
two-way price action
resected inili, exporter and
mitted to the High Authority.
At an earlier stage, however, was suggested that GEORG
should
sort of
Active Trading On London
Exchange
London, Nov. 2. other trade buying in the Dec./
be split into six Inde-
Nearly all sections of the March deliveries, while hedge pendent subsidiary organisa-stock market closed firm in 108, with: central office which selling and Liquidation in the would diso handle sales to inactive trading on the London Jaber inonths increased with con
port.nt customers who take at Exchange today. nigher privare estimates.
feast 50,000 tons per annum, os
The well as sales to the Federal Reil-
Improved position At the close the list ruled ways and exports. This plan sterling in relation to the United points higher
52 points was designed to
States dollars helped give the jower. Opening prices were off equitable distribution of orders market a bullish tune, as i to 41 poin.. New Orleans to the mines, closed up 2 to off 50 points.
to
crisure пл
More recently, L plan hus Uncertainties about the parlly been evolved which would spkt
GEORG into only price support level nex1
three sub- year, and
in-
in bv
in-
of
| sterling renched its highest level of the year in berms of US dollars.
British
Government stocks sprinted alicnd near the close and finished with gains of £% or better.
Industriais dragged at the Investment buy- opening, bui Ing later in the day sent many ahead, Bownter, Und- Chemical and Imperial scored gains.
Isguer
lover,
disposal of the exis.ingsidiaries with a central office. lurge surplus of raw 0012014,
In addition, usually weli were other depressing
formed sources belleve that the fluences in late months.
Ruhr coal industry may submit | yet another plan which would Some
buying shipper
[conform to the Schuman Plan Devinder was thought to
curtci clause while leaving the against export commitments to organimiph strongly centralised. Spain and Latelbiy, Yugoslavia, No omcial confirmation of this Reports of heavy loan impound report is available.
Ks were another fucior,
Oils also benefited from in- Another organisation which
vestment support
and closed Private crop estimates, antici. the High Authority would like
higher. Gold shares fell back decentralise 13 pating the governme..t report on
OKU in
on selling pressure and showed Tuesday, spo.lighted at entlon. Mannheim, a joint organisation
fractional Josse of the Ruhr. Aachen, Saar
and numerous Optimistic prospects joked the
inactive Liverpool market
Lorraine coal mining industries Coppers were mostly ana brough which supplies the south
at Ger- and turned regular
the selling into the focal ring.
close.
One survey
put the end- October yield at 14,980,000 Dalcs. This would be i
nore than a million bales over the last government figuie and compu.cd with produced Just year.
13,696,600 bales
Lo
man market,
Cartel Violation
however,
Japanese bands held steady. But proft taking slashed at German Pothash lens and drove them lower-United Press.
NEW YORK METAL FUTURES
The High Authority consider that OKU consitutes 1 pro- ducers' cartel in violation of the Schuman Plan treaty.
Industry circles, Average guess of 50 members claim that without such an or-
ganisation Saor coal would New Orleans Colon longer be the Exchange was 14.733,761 bales. Ruhr coul.
competitive against
New York, Nov. 2. Prices of metni tutures closed mines would have to be grant
II OKU were dissolved, Saar today in cents per ib. as follows:
bring ed permission to
their priers into line with those for
of
The highest member gues
Hurried liquidation, touched off by lower London cables and the prolonged lack of consumer interest in the spot market, un-
gured 18ct marke COVETED orders. Technicians finished under London
aj 15,212,809 bales and the lowest
13,875,000 bajes,
Trading volume and open In-Ruhr coal, the circles state. terest in the Exchange today
fully
i cent close.
At the lows established
downl fu ures were the close about 12 to 15 cents a pound from the highs made to mid- September.
Small sales in the spot market Included Dreimber be thec s which dropped from 39% down to 37% cents a pound landed basis. Spot No. 1 Rsa were quoted at 30 mts. Futures;
Dec Mar.
"Tho importance of today's pelion to our 11,000 million May ollars ot imports and 15,000
Sept million dollars of exports is that, Dec.
this finding is allowed 191-stand, no imports (except for specialty items like perfume and are safe, and no US
on his steady CAU carry
any degree of certainty that he will be allowed 13744- to remain in business.
100
271
Mar
B7
May
1054%
July
70
Srpt
60
Ryc
Dec.
112
205%
Mor.
1147%
43
Dec.
64%
4314
60%-
9912
aybeans, No.
yellow
201
Spot
220
44
Nov.
91 Fan
Zor.
May
39
36 July
19
Bailey
Now
23754
24215
245-58
2434-15
130-140
UP York Bour 200'ib. pack 413.00
Unlled Press,
Singapore
"The effect of this action has been to stop every import of British
standard soll
China Mall Special.
pipe."--
New York Sugar
Market
New York, Nov. 2.
was
MESSAGERIES MARITIMES
PO Box 53. Queen's Building Tel: 26631
wert:
Month
Voltuns
Open interest
At the same time, regulations governing quality would have to be adjusted. China Meil Special.
Lead
Tin
Zinc November December Copper November
December
November
14.82b
December
14.84b
November
13.60b
December
16.251
12.01b
44.00b
43 Aub
-United Pres
Dec.
$2,000
41,000
649.000 373,000
May
32,200
053,200
July
PO DOG
72%,900
Ocí
13,400
102,700
$7,70
Doc.
1,000
$4,
59.10
Mar.
Total
1000 100,000
1.051,500 balan
31.70
NEW YORK
FAST PASSENGER/FREIGHT SERVICE
LONDON
Prices of futures closed today "CAMBODGE""
salling Nov. 5th
as follows:
The
market with
barely spot quoted at 83% pence per ib. Prices:
was
Spot
34.630
"LAOS" "VIETNAM"
Balling Dec. 3rd
sailing Dec. 81st
December
33.44
March
32.10
No. 1 Rxpat.... 301⁄2-33% Ettlement houro term:
July
FAST FREIGHT SERVICE
ciober
Dee,
Jan./Mar.
37- 2231-3235
December
March
"INDUS” "MEKONG"
Balling Nov. 7th
Balling Dec. 9th
Apri/Juno
July/Sept.
NEW
Nov
Dec.
Jah,
3296-5
3.3% unqualed
Estate crepa
thin Nov.
30%
as follows:
Spot
AMSTERDAM
December
March
July
General markets, car basis, ports:
May
3116 29.12-10 20.00
30.20
ORLEANS
Prices of futures closed today.{
The market was easy. Prices May closed today in guilders perinber kBogramme, cit, December as December follows;
No. 1 rubber World
NO. 4 jugar futures|No. 2 rubber closed today unchanged with No. 3 rubber
No. 1 cred sales of six contracia,
Stock Market Domestic No. 6. sugur futures
Singapore, Nov. 3. Brokers toxiny ,quoted the following stock prides:
Batu, Intarir
Rubber Co. Lth... British Borneo Petroleum
Byndicate
Opening
$1.60
43 d
Consolidated Tin Smallets
ord.
"Whaye Yva" "örd. $1,69 261
$.20
7% | Kangkong » Bhanghai
Hongkong
Tinas Hübber, kalkien had.
92 Wertinghouse Mioginio
Woolworth
United. „Inginerie Ordi
Muntha prunik" 1.
4
closed 1 to 2 points higher with no stries.
3.20 hom.
3.18 nom. 7.10 mom. 8.57 nom.
United Prem.
New York Foreign
In world raws, dealers under- stood, a leading British refiner bought two cargoes of. Cubans for January shipment. Refinery marloed time in the domestic Carpe
www market. Futures
Contruot No. 4 (Wokta}
MAY July
Exchange
ngiand official
.200
Now, Zealbad South Afric
3,20
New York, Nov.
$3.00-4/32 3.80-1/10 3.70-11/10 278-38/10
2.00-2/10
future.
-United Fre
Exchange Rates
#radongalap gesaplah
Blám tiesia (nee, 100)
March
SAO PAULO
BRBESAR
Quotations were unavailable— boilday.
-
In the US the got prices were also unavailable. Bales sold at 13 designated spot mar- kets was 58,781,
Liverpool prices were not re- calved.-United Press,
London Foreign
Exchange
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