1955-12-01 — Page 9

THE CHINA MAIL, THURSDAY, DECEMBER 1, 1955,

TRADE and COMMERCE SECTION

Germany Should Make More Ample Supplies US Depends On Wide

WORLD Use Of Surpluses WORLD

COTTON MARKETS

New York, Nov. 30,

Cotton futures today see- sawed In spasmodicully active dealings.

Alternate spurts of belge sell- ing and realising were met wit furries of dome u mntil, expor

ter, Liverpool and commisions hier buy.ng.

E

Technicians though; the mar- i ket wits consolidating its position following a tie of around $5 to $8 deliveries

12

DAMMING BACK SPENDING

POWER AND PILING

UP FOREIGN EXCHANGE

By SYDNEY CAMPELL

London, Nov. 30.

In theory the German Financo Minister is damming back a bale for th deferred spending power, and piling up foreign exchange, so as to have

the

inflationary pressure when the means of relieving the defence burden comes in 1957 or 1958.

KMMEN

The past with Expectations nother

for

THE I joined with firms t the extil macke sad vallon: prier-boltering proposal, vx- peted to be introduce wher

Congr

bulitinys,

al es

is Jonyvach.

cushioning IN

tw

decllues.

Nearby December ducted narrowly in quiet dealing, L-i Ing apot luterests sold moderate- 17 with the offerings being taken up by the trade, partially ageinst sales of the Inter months

delivery strik moved up ans other 1.832 to 1,737 budung, SUR- gerking that more cvlton may be

moving into a deliverable posi- ton, fraders said.

The

mid-November parity

trday

won 31.07

price report

centa a pound, unchanged from the October and September level. At the close the list ruled 19 points higher to 9 points lower. Opening prices were unchanged tup 13 pointą. New clored up 1 to 11 points

Volumes und open

were

Month Volume

ผง

Orleans

interests

Open talere!

Dec

12,000

237.100

Mar

29.30)

$29

May

20,100

243 200

July

18,700

121,000

17.000

179.700

Deu

13.700

120,000

Mai MAY

12,000

34,100

Total

4,100 126,800

7,000 1.767.500 bales

He refuses to enlarge the defence appropriation, and he intends to tuck it away in the coming year just as he has done hitherto. But he does now contemplate spending it and with some use of the import valve.

The Even assuming that the iden then reve fence burden does come on by would aggravate it 1957 to 1958. mere five 你

problem;

There

power

Yeux ufter the originally Second, havign exchange

may be not the place in which to make schedu mal date.

Buy where and flows in this theory First, room, because at in

rlee of damned-back Internal the shoe is going to pinch: the spending

would not early stages of Germany's

те

Late Profit-taking Stops New York Break Through

New York, Nov. 30.

armament

RUBBER MARKETS

New York, Nov. 30. Rubber futures today closed with sales of 10 points Lower 343 contracts,

Of Rubber Forecast

New York, Nov. 30. Mr Harvey Firestone, Chairman of the Board of the Firestone Туге

and Rubber Co., returned from Monrovia, Liberia, where he attended the Inter- nationsi rubber conference.

***The proceedings in Liberia gave rubber mana- (acturers' confidence that

foreseeable future in the there will be ample sup- piles of both natural Synthetto

rubber," Firestone Included

aboard

Most of the business on the floor was in switching Spurs

Exchanges

points;

nt 070 Sept/March Dec/Mar. 675 points: May/Mar. 816 points; July-May 145 and July-Mar, 450 polnis. In addi- 30 lots of December futurca for February were exchanged th:00 sheets

tion

cents a pound,

The

at 37% and 38%

spot market dull Spot No. 1 Rra

and

Mr

fold HOWAIDEN the Uner Queen

said plans were muzie

at the conference for 4 programme of

with new

replanting

many stock

under cultivation.

"If these plang are put Into

"I effeol,"

he said, feel sure the natural rub- Industry call meet

continued

www.

her

quoted of 493⁄41⁄41⁄4 cents a pound. Futures: December

Mny July

September

SINGAPORE

December some day,

41.031 30.00

34.59

30.40

3030

The market opened steady at around last night's level but

Futures:

are going to bring eased en inck of support. There her a new Goloconda of foreign | was some buying interest at the exchange from Britain and the close. US. Britain's payments of 180 No 1 rubber per t

Ior million a year to Germany stationing costs are to start next May.

Not As Early German purchases of detence material from Britain will cer- tainly not be as early as that, and

It remains to be whether they will ever be large as that.

03

Des

Jaa

Feb......

No 2 rubber per b. Dec. No. 3 rubber pey ib. Dec. No. 4 rubber per lb. Dec. spot rubber unbaled Blanket crept No. 1 pale virpy

LONDON

..

12644-12615 123-123% unquoted 121-1223 120-120

133-18434 1274-1291 97-0015 133-130

The market was barely steady with spot quoted at 37-8/10 pence per lb. Prices: No. 1 Rss spo

Third, the German Industrial

not are

ikely to allow Germany to import very much Jan

Bettlement house termi

of her defence materials for Feb foreign exchange. instead of Jan/Mar making herself or, preferably ne July/Sept. fruin their standpoint, exporting Additional civilian goods against | Dec. Jan. it.

of

379-37%

the twin challenges of in- crossed demand and com- petition from synthetic rubber."--- United Press.

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

Variety Of Imported Supplies

Washington, Nov. 30.

of raw

The Commerce Department, in an analysis

materials supplies, revealed today that the United States is dependent upon imports for a wide variety of indispensable materials.

Among 140 commodities essential to industries, imports represented from 80 to 100 per cent of total supplies in the case of 81 raw or semi-processed products.

For an additional

10

But

ali

Bel-

United

These included such important

US imports of materials as tin, lekel, dia-nitrogenous fertiliser materials monds. newsprint,

valued wore natural

at $106.390,000 rubber, etc...

(23.2 per cent of supplies), and largest suppliers were com- the modities, including long-staple Canada, West Germany. cvilon and

Netherlands, gium, numerous metals,

Kingdom and Norway-United imporla furnished 80 to 80 per

Press. cent of United States supplies.

The comparisons were based on supply and import figures for the your 1863.

New Sources

The analysis revealed that the United States has found new sources of supply for numerous products formerly imported in large quantiles from the Soviel bloc countries, as for example Russian manganese, and Chinese tung oil, bristles, tungsten, silk, tin and antimony.

Business done on the Hong- The Commerce Department kong Stock Exchange This alatistics indicated that a for- morning amounted to $240,000, midable competition is develop- 3736-3771 Noon quotations and the ing between countries of the

Western and Eastern

3096-3815

3045-301

331-334

BANKS

HK Bank

INSURANCES

31-81 General markets, cif basis, ports:

3014-3044

.....

Estate crepe thick and thm all un-

AMSTERDAM

They are already demanding quoted. that any German imports

The market was easy. Prices military goods should be under bilateral agreements,

against closed today In gullders per

for outlets

kilogram, elf Dec. as follows. No. rubber No. 2 rubber No. 3 rubber No. 1 crepe

Stocks moved toward new highs at a fast pace through most of the session today but failed again to break through to a new top when late profit- Prices of futures closed today taking brought irregularity.

additional export United Press

NEW YORK

na follows.

Spot

Dre

May

July

Oci

1)ec

MAT

May

NEW

34:00 34.20

33 49.50

32 12

3007

29 73

29 00

ORLEANS

Industrials managed to hold 0.66 of an early wider gain in their average while rails declined 0.13 and utilities rose 0.21. Out of a total 1,200 issues traded, 589 were higher, 367 lower.

Trading was the most active since October 11, with her virt dealings Taking place on the up- side. An ཌྷ《1རྙ་ཐཱ་ opening

Prices of futures closed today :orced ticker to run lake briefly as follows:

¦and turnover Tur the

Sput

Thec

Mat

MAY

July

Oct,

Dec

яг

May

30 30

33417

12,00

311 37

3010

21 95

20.10

29 30

LIVERPOOL

Closings, in the pence per lb.

were as follows:

Old conifert

Dec/Jan.

Mar/Apr.

May/June

July/Aug.

New contract

May/June July/Aug.

Oct/Nov.

Egyptian Jan/Feb.

BAO PAULO

Future closings, in

as follows:

March

per kilo

were

Mar

July

October

In

20.

23.03

totalled 2,800,000 tart, e- pared with 2,370,000 yesterday.

A few isaurs featured with wide changes ruche Hercules Powder which rose 12 points ut is high in three-for-one stock split news and held more than 5 points at the close.

Usual Dividend Delaware and Hudson, on the other hand, turned an carly gain of around 3 points

22 31 loss of a point when directors

22 13 ordered only the usual dividend.

This, together with a loss

Culgate-Palmolive Ca Canerclat Cred Commonwealth Elec vosta.ted Edison

Continental Oil of Del

ntinental Steel

Corn Products Crusse Co Crown Zellerbach Cabon Amer. Sugar Curtis Wright Diamond Alkat Dow Chemicals Duport de Nemours Eastman Kodak

El Paso National Qae Erie Railroad... Family Finance Corp. General Electric General Foods General Motors Gen. Pub. Ust. gilette Safely Razor Glidden Co.

Goodrich B. # Co.

Goodyear Tyre Heyden Chemical

omstake Mining Co.

of Ingersoll-Rand

2335 more than 2 points in Union Inland Stesi Co.

24.381

28 Pacific and

ex-dividend ad-

40,20 Justmen for the latter,

down the rall average.

Interchentcnt Corp. int1 Business Machines pulicamat Harvester Sonia International Nickel

Fe rose 3 points and Southern International Paper

Railway

Ohio about

30,20

30 20 stebla

Baltimore and point,

int'l Tel & Tel Joha-Manville Co

Kansas C. Power & Light

In Kennecoll Copper

up

Liggeti Meyers Tob. Co. Lockheed Aircraft

Lasws Incorp...... Lone Star Cement Co.

Louisville Nashville H.

There were strong spola

with Bethlehem 30.40 nearly 2, Youngstown Sheet and 30.40 Tubo up almost 3, Jones and United States, the Laughlin nearly a point higher,

rose nearly

Mesabi Iron Corp. and Texas Co., moru Minnesota Mining

Mission Development Morgante Chemical Co. Montgomery Ward

average price of 18/16 middling

cotton

Shell points

2

at 14 designated spot than one in the olis

Aircrafts, yesterday's pace-

markets was 33.02 conts, Sales

totalled 59,829 bales.

KARACHI

was erratic

The market

Lowenstein & Sons,

sellers in the late rally were Motorola Inc. mixed with Bendix and Douglas National Cart Reg. "A

almost a point; General National Dairy Prod.

National Distiller as Dynamics

large arrivals and hedge selling i Amerlane of nearly 1 and North National Lead

offset local mill and shippers' than one. demand.

4F Punjab, roller in was quoted at 71 rupees per mound. Others were unquoted-United Press.

Singapore Stock Market

Opening

Singapore, Doc. 1. Brokers today quoted the following stock prices:

Batu, Jintang Rubber Co.

Ltd. British Borneo Petrotalamo

Syndicate Consolidated Tits Ameitat

Ord. TRANS

Nears 75%

"Banking Corp.

Hookon Tin LA. Kompas:Lia. Den

Lames Rubber Estates LAJ., Kamyan Drawertes

•New Gerandah Humber

42/-

10/2ả

$8.00

Motor

Aviation off

eased

more | National Steel Corp.

New York Central Olla Mathieson

Pacific Gas & Elec. Pacific Western Oil

Chrysler Elevators dropped nearly a point; General Owen-linols Glass Motors a small fraction,

American Tobacco and Philipp Pan American Aleways Morris gained around a point in Paramount Pictures their group. Bullard, Konnecolt, Parke Davis Co. General Electrie improved. Penn. Salt Co.

Penny J. C. Co. point to more than a point, Phiko Morta

New York Stock Exchange Philpe Petroleum

Procter & Gamble, Ca. bond volume was $3,480,000.

Pittsburgh Plata, Clasi

American Stock Exchange | Publickar Industries

volumo was 950,000 shares,

Closing Prices

Alden the. Acy. Allied Chemicals Allied Mills Inc. Aili Chalmers, ( American Airiña

American Cyanamide Co.

Am. Mach. Je v dry. American Metal

American Athelling

American Tel "American "ZOB. "E Ahucenés Copper

Armco Steel

Armour

UNST-BLENDSHEMADE BEE

Kailimore & Ohio

Dehdia Aviation Corp. Sahausi Cons, Beliebensteel Boring Airplane Borden (The) Co.

Canadian Pacie

·Murroughs · AGR

Pure Oll

Radio Corporation

Republic Steel

Reynolds Metal

1133, Saint Reg., Papee

54% Binclair Ou

67 Sony Vacuunt

24% South Porto Rico Bogar nell Southern National Gas

25 Bouchem Ballway (Com.)

Sjandard ikeandm

Itandand

United

"Camp,

German civilian goods.

the defence material that Germany expects to obtain from abroad, she intends to buy only

that part that she connot obtain by grants or by lend-icase. dollars which he has no reason-

Instead of piling up unneeded

Dr

able prospect of spending.

better od- Schaeffer might be 871% vised to spend some of them

0% right now on

importing

4

45

0314

the

means for enlarging productive Capacity in coal and other bask

preventing

much than trying to cope with them

42 essentials: 273% betLenecke

13

15 after they have developed,

the better

Cheapest In End

43

03%

22014

83

00

22

24%

money

3T

40

3045

ja:

Brl-

3.50 buyers

3.40 buyers

1.40 bom.

3.70 nom. United PTEN.

CHICAGO GRAIN

MARKET

Chicago, Nov. 80. Soybean futures showed gaine, but other grains were slightly lower on the Board of Trade today.

Dealer sald

for with

Industrials Advance In London

London, Nov. 30. Industrial shares staged

ļa modest but well-supported

morning's transactions:

hemi-advance and the London sphorta in supplying United Exchange closed on a firm SHARES BUYERS SELLERS BALEB States Import requirements

| note today. and petroleum

metals, Middle East and African pro- Buying was centred on ou duction Tooming in future im- portance,

United States Imports of crude petroleum and fuel oll in 1953 were valued at $753,172,000, and represented 18.9 per cent of US total new supplies.

Union

Lombard

1060 1019

910

101005

100 01

DOCKS, ETC.

K. Wharf...

12 Dock

28.10 Provident (0) 14.40 14.70 – 230 or 1415 3131415 Wheelock

XD

8.20 0.43 72000 @ 30 600 # 8.30

LAND ETC.

RK Hotel... HK Land

RUBBER

A. Hubber

UTILITIES

Trem

17 17.30 1000 1720 00 60% 100 # 63 10000

10.20

1a25 190

1,76

2.50

33

Star Ferry

130

I'mati Yerry

102

104

Light (0) 23 22.40

Ligat (N) 16.30

Electric

30 391

GGGCEP

•

Manganese Ore

Imports of copper wore valued {at $422,018,000, representing 41.5

per cent of US supplies,

The US imported 05.2 per cent of its supplies of manganese ore valued at $98,200,000.

Importa of iron ore were $96,780,000, or 9.2 per cent of 1.40 US total supplies. From Sweden came 28.1 per cent of imports: Venezuela, 17.6; Canada, 16.5; Chile, 12.8; and Brazil, 0.0.

In

1953 wero

wi h

up

Royal Dutch shares, nearly £ at the close. Shell Transport gained more than two shillings, while Burmah and Br.- ush Petroltum losed higher by more than a shilling.

Unilever, Imperial Chemica', Hudson Boy Ind Associated Electric sparked the advance

other among

industrials. But gains for the most part were less than one shilling.

De Havillands Bright

De Havilland was a bright spot Great in the aircraft section. Universa Stores fell back under profit-taking pressure.

Coppers were Arm Gold United States Imports of tin shares advanced at the open- ating, then quietened down and valued

with a sprinkling $258.653,000 which was 90.0 per closed ceat of letal new supplies. From small gains.

British Malaya came 38.2 per cent; from Brit Government stocks

14.8; Bolivia,

and from Nether- were quiet and virtually un- 100 18.50 lands.

13.6. Other

changed at the close. suppliers 18.10 were United Kingdom, Thailand, 1940 and the Belgian Congo. 200 18.01

The United States 12.90 13.10 399 13

imported 2004 13 mercury valued at $13689,000, 1000

or 85.3 per cent of new supplies.

larger than

Macro Telephone INDUSTRIALS

Elec. 9 9.00

31 3211

531 316

18.03

100 13.00

Dairy

Watson

All European countries,

should seriously expected October goy being cruh STORES, ETC. tain not least,

more and brivier use of crude soy- consider

spending

the buying education bean oil prompted on technical research, It would not cost of soybean futures.

11 is reported that the Japan- much in additional inflationary Whatever it cost would #DS fuel.

ese Government bas authorised come

An cheapest

the end. the import of 8,800,000 bushels Otherwise it is not merely of soybeans from October, 1955, the to March, 1956, with about 1/3 To matter of keeping up with

That country. 84 United States.

from the United States and the balance on a global basis.

The Department

of Agricul- the carryover stock ture said of soybeans next October 1, will be about 20 million bushels, about twice as many Go there were to hand at the start of this serron

307

can easier

10 where medium concerna 30% spend tens of millions Gthan big European concerns can So spend millions, shows algns of of Europe's forging right out 3641 sight.

70%

Germany.

for one, cannot του Tot afford to let it happen. For a

country with

such strong Binances and such dependence 118% on technology, parsimony would

Bisbe very false economy. 20% Like Mark Twain

87

GB$

HD

notice Today was the frst

for intentions to deliver day against December grain

con-

were corn

and dealers reported considerable liquidation of near- Economics Miniator Erhard,

by contracts after moderately

notices delivery 25% another Bavarion, who seems to large

believe, with Mark Twain, that

received against wheat, only logical weapons for a and cats. the 3014

duel are axes, has suggested

Some buying of wheat stem- **Import 1001 wider opening of the

med from additional reports of individual 47% valve by allowing

107

B4%

384 Germans to bring in their own dry weather from the south-

west. Imports from mail-order houses

Exporters reported that Fo- to is likely abroad. Nothing

land bought a total of 5,600,000 11% come of it.

Both at home and abroad, bushels of low-grade Canadian 561% Germany

could make more wheat yesterday and today for serious use of her budget ur-December shipment and that Boi pluses and forel exchange Japan purchases 3,500 tons US accumulations. China Mall wheat, 10,000 tons of Canadian wheat, and 2,000 tons of Aus- 1716 Special.

trollan wheat today.

í

New York Sugar Market

New York, Nov. 30. World No 4 sugar fulures to day closed unchanged to 1 point Jower with sales of two con- tracts.

Wheat closed up to off cent: soybean (new) up one to 84 cents,

CLOSING PRICES Prices per bushel in conta: Wheat, No. 3, res

Spot

Dec. 2004), 303;4(E)

Mar.

May

July

Sept.

Corn, No. 2, yellow

Spot

Mar

May

July

offers on its inquiry for 30,000 tona to 100,000 tons of raws for BTD

Rep.

Dec.

delivery

next year. However,

Domestic No. 6 sugar futures closed unchanged to 1 point higher with sales of $1 contracts,

world

dealers raws, understood Morocco had rejected

new offers are expected" 10 bú Dan mado "komorrow, Tuluren

195 Coatynes 20,

(world)

3000

600 18.5D

200

COTTONE

Textile Corp 6.70 5.90 1000 do 5.00 Nanyang

B.30 8.50 1000 4 8.60

Allied ..... 5.45 800 800 8.55

MISCELLANEOUS

Japan

Should

Her

Stop Dumping

Tokyo, Nov. 30, Japan's dumping of 20 per on the cent of her exports world market at "terribly low" prices led other nations to im |poso restrictions gainst Japanese goods, Mr Koichiro Asakal aid today.

Mr Ankul, who returned last Geneva, where he night from let the Japanese delegation 15 the 10th general meeting on Tariffs and Trade (GATT), de-

BO

per clarod, "The prices of bent of Japanese products are stabilised, but 20 per cent are

Bold being

Iow at terribly. mentures”

He said the Japanese Govern- kocht must "take strong mon-. sures against this" to win equal tariff treatment with other coun tries.

chlef Japan's

problem at Geneva was to persuade 14 GATT member nations to ceas Invoking Ariicie 36 of the GATT Jepan under Charter" against which they have refused Japan equal tariff treatment with other countries United Press.

Exchange Rates

new way? done in the kočni

market

(100)*

Apparel Wool

The US supplemented its own with production apparel wool"

of

Foreign bonds were firm. A few Japanese issues moved up liens 21% or more. German

few advances, but managed a Potash six per cents skidded £1.

Dolar atccks showed maring

About $1.-United Press.

10

imparts valued at $186,291,000 London Foreign

or 40 per cent of total supplies. The US in 1959 imported tung oll valued at $5,405,000, or 35,2 68.1 per cent of supplies, and

per cent of these Imports came from Argentina. Before the war tung oll, come chiefly from China.

of

United States relied entirely upon imports for supply Quecbraco extract valued $27,220,000. Argentina furnished 85.7 per cent of imports, and Paraguay, 13.8 per cent.

Exchange

New York

Montreal

Amsterdam

Brusch

Copenhagen

Lisbon

Paris

London, Nov. 30.

2,00-2.80-3/16

2,00!a=2,80«3/16 10.03-10.03%

139.95-129.87 19.3344-19.333L

60.00-10.15 98116-0015

Others were unchanged.

New York foreign exchange rates were unavailable—United Press.

Let US handle

YOUR PRINTING

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

ONE PROOF generally suffices.

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

current. Let us quote for your

requirements.

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descriptio

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