1955-12-06 — Page 9

LONDON MARKETS HAVE GOOD DAY

Surprise Steel

THE CHINA MAIL, TUESDAY, DECEMBER 6, 1955.

TRADE and

COMMERCE SECTION

Fight Against Inflation

HONGKONG STOCK

Dividend EXCHANGE

London, Dec. 5. Stock markets were in n very good form today with

widening netivities

(From Our Correspondant)

siness dut on the Hot- Stock Exchange this into! k

mong amounted Lo $450,000,

Quo ere and

sections hitherto not much

in the newn.

The

ativideot

すいー

SUCF prise

But Culvelies, Le bv clared

producer, had o Scotch steri groot effect; it served to reiniti 1 people apparently, that bushues. is very very good and not mere ly illusion created by tion

morning's transactions;

BANKS

HK Bank

INSURANCES

Astr

12

43

the

UK GOVERNMENT PLANNING TO

TAKE INITIATIVE

From Ronald Boxall

London, Dec. 5.

WORLD

COTTON MARKETS

New York, Dec. 5.

- Cotton futures today re- sumar! the reactionary trend under way at the end of last week.

In moderately active'dealings, prices opened mixed and on the defensive the rest of the day.

3.

1- for

News leaked out of Whitehall last week that the Government is planning to SHARES BUYERS BELLES sales take the initiative in the fight againstained

151975 inflation. A White Paper outlining the current economic situation and pointing out the dangers of the continuing drift towards inflation is under consideration. But the Government's main line of attack what al 1780 1785001720 has already been indicated by the Chan-legislation will take when Con-

cellor of the Exchequer.

tin Brand DNS ETC

30 1100 10

020 70

Bin 25 4000 400 1201

Dock

th

Poovidest

JUNO

14:40

Where lock

X 11

LAND. ETC

HK 14: BK

Land

(KC) *IK

11A

34 33

10 B

Tanover 1-4394 sharply 12.090 borgains recorded crum

Fed

with 10,800 bergam

week ngo5.

Rose Sharply

Calvilles

per stari

· Aninco Electricit shares wenn

Continuadh-

hint at el

of rust

shitting

244343 baits share

delive

gated hist

Dele

man-node #crylic

strong

comment on its use of the new

Un

Aber

lever stained and held a shelling

rise

mixed fot Oil were up Royal Dutch tore 1g deiling nod

B'

mpet

11.

Ang -Epplian

shiling nine per others were mostly j

Gold interestin

British

share

Government

stuck

were Hrm all day but the news

of a new on being sold by the

Corporation Liverpool

-uyo away.-United Press.

kept

Hungireys

Stabber 160 1 12

2 123

ZZA

A

1267 2

207 б

101

PHONE TILITES

T

101 Yh

1. Ch 2100 21 70 500 21 40

30021 00

ferm

So casually that it passed almost

2 unnoticed, Mr R. A. Butler told the House of Commons: "Unless we can buttress and the taxation system of this 23000 Support

country and make it broad embracing I do not think that we

and all

can

+7

34 2100 Carry the burdens which lie before us.'

Mar

Light N Nectric

Kier

120

SAM

32

30 39 1450 un 3051 a

300 30 31.

IND TRIALS

Vetrat STORES, ETX"

Daily Stutor COTTONS

Textiles NovaDe

14 20

13

380 5.03 2001 *

3 AV

B 0,10 2000

B

ย

3000

Exchange Rates

-

HUNYVES

WTH

dann

the Incal 3n exchange market In the following rates: I dolla

(per 1

41) Sterling noten (per Australian notes (per £1) Indonesian rupiah (per Stam teal (per 100)

Singapore (Straits)

100

B192 10.20 19.41

Mily I the plainest hint that has yet been given that Government

planning to

La

per-

make purchase monetal revenue raiser.

The Chancellor's L'atement attracted murprisingly lide at

because it tention-perhaps was inade rather late at night the end of tedious debalo. By contrast one could imagine the interest

would

that

that

be around if the chairman of

AWES warn- 1000 Important company had

the 25.80ed the shareholders

1.00 business would go bust unless It could find means of maling more money to ineet its ever increasing overhauls,

York Markets

Markets Nationally Ignored

New York

Move Ahead

At Good Clip

New York. Dec. 5.

Stocks moved ahead at a good clip in early trading today with steel and metal shares attracting considerable demand.

In steels, Bethlehem featured General Motors

Util. to Gen Pub of 2% points with a rise

Gillette Safety Razor $184, while Youngstown Sheet Cudden C and Tube, scheduled for merger Goodrich FIG

with

Bethlehem,

in

to $100

$51

bedded

Jones

Goodyear Tire

Hayden Chemical Homake Mining Co.

to Ingersoll-Rand Steel.lend Steel Co

i point gained and Armen Crucible, National

Steel.

Interchemical Corp.

4014

3735

Bearish price-shaping factors

higher Sharply

2. In- creased December liquidation; B. Dullness

the export market; 4. Uncertainty over form

included: Drivate crop estimates;

ת!

form new

grees convened In January and what price support levels will be next year.

Day trader covering stendled

prices at the close, but the list

still showed net losses of 9

27 points at the Anal gong.

Pago

Peru's Cotton US Plans To Sell Exports Down Cotton Abroad

Washington, Deo, & The United States Department

Agrical- tare reported today, that Peru's cotton exports: "of 830,000 bules (800 postide Brows) in the kurust 1984 to July 1955 marketing nine your represented a por cent

decline. fram Axports of 361,000 bales In 1953-54.

In its weekly bulletin on “foreign grup and markets” the Department aid "de- clines were registered in Republic exports to

At Cut Prices

New York, Dec. 5.

Plans to sell vast amounts of surplus United States cotton abroad at cut rate prices are being made by Agriculture Secretary Benson, according to today's Wall Street Journal. ·

A plan to expand cotton #inles nbread

iden Benson's own

cul

rate The State Department man- of Germany, the Nether-

19 Mraged to reduce Mr Bensen's ns he limit of Jandy,

and Argentina

to ono planned sales Columbia,

-convinced such step, with inorenned

parilatly million bates of tow Krado rejected by the State Depart-cotton and to delay' even these exporta shown for Switzer- land, Chile and the Unite

ment earlier this year, in nooded arlos until after the fun of Blutes."—United Press.

stocks of year.

WORLD RUBBER MARKETS

Singapore, Dec. 5.

The rubber markel Armed on

to short covering and trade sup-

port

There was some profit, taking. Futures:

Opening prices were up to of 10 points. New Öricans No, i rubber per ib. Deo. 13376-13372 closed or 19 to 28 points.

JAIL 1394-129 Feb. unquoted Anticipating the government's No. 2 rubber per 11. Dec. 177-1273 fall erop egimate of the sea-No, non on Friday, 07 members of pot rubber undated the New York Cotton Exchange, Blankot prepe

No. 3

120-1204

110-120

1341-18096 101-103 144-145

LONDON

Over the past 15 years pur-th an average guess, put the No 1 pale repe

crop around 15,074,000 bales. chase tax has changed radical- is still one ly In character. It

the Governinent's anti- of

But Inflationary mensures, has another role and

perhaps even niore important role. For

will it

brisk in this year nearly £400

million - ** colossal amount" the Chancellor called it-or about one-eleventh of the cost of keeping Britain

It in

18 rapidly business, becoming indispensable.

Public Yet To Accept

But however good an argu- ment this is

any:

fu ure government may make out retaining purchase tax as

*

Other Figures

por fert,

The market was very steady with spot quoted at 30 pence

Prices: Der lb.

Ono trade pubileation ești- mated 15,255,000 bales. Tho Idat government figure was 14,- 843,000 bales. Favourabic | No. 1. Res spot

Bettlement hore term: weather, limited insect damage, intensive cultivation and heavy fertilisation promised a record breaking yield survey said.

Some traders, however, sald' crop sumates now are largely an anti-climax. They felt the {trade is all set for big crop, and that the bigger the crop will be the amount that goes into the loan.

notices.

39-3912

to whittle down huge

of unused fibre.

At present,

stocks

·

surplus are not offered abroad for less than the price, that is for above the world market.

But this year's bumper colión erup has uggravated the surplus worries, threatening to Inerenza the already big glut by three million unies-Reuter:

P&O B.I. E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. Co.

PASSENCER/FREIGHT SERVICE

Outwards *CANTON"

"CARTHAGE" "CHUSAN"

"CORFU"

1.raves London

Salled

7th December

Nur Hongkong

121 Decrmber

0th January

01h

10th December 14th January

4th January

February Via Bouthampton, Port Said. Aden, Bombay, Colombs, Penang & Singapore

Learts Hongkong Due London 16th December

"CARTHAGE” 13th JanuATY

Joux

Feb. Mar.

the

Jan/Man

Apr/June Jusky/Skopt

371381

351-359%

Homewards "CANTON"

General markets, cif basta Dec. Jan. Entate crepe thin Jan

5734-879%

Thick sellers Jati: 2815

*United Press.

Al

Trading in the spot

December liquidation followed permanent revenue raiser It the issuance of four delivery cannot hope to escape criticism.

The public has yet to accept month will end December 13. purchase tax

ood income

ever

Mr Butler told the nation in effect that it couldn't have Its cike and eat it too. That is an well understood axiom that is

has who by everyone tried to balance the

a serall business. budget or rưn But

Ignored it in

On the national level with astonishing consistency

pinya Purchase tax already

important part in the Gov

to crement's efforts evadical inflation. Reading between tines of Mr Butler's speech one gailiers that it has been cast for a different role in Govern-

evil

it accepts The certificated stock increased

071 necessary another

balos, totalling that 10,376 bales at today's last post- unless ing.

con-

990

ment's future plans. By in New York Sugar

Ing within its cope

verything

buys-from

virtually

that the publie

motor

CARS to Butler has paved the way for its substitu- tion

toothbrushes-Mr

by a general defined primarily venue.

00 40%

400

sales tax

10,900

Prices of futures closed today as follows:

Market

Spot

Dee.

New York, Dec. 5. World No. 4 Bugur

Mor

Mny

July

Oct.

Doc.

futuros to raise re-closed

one point higher with acles of 82 contracts.

Domestic No. 6 sugar futuresMar unchanged to 1 point tower May

30 contmets, with white of

Trace covering orders pre-

Singapore

Stock Market

$2.09

**CHUSAN” *CORFU"

30th January

10th February

10th January

13th February

17th February

19th March

Via Singapore, Petang, Colombo, Bombay. Adet, Port ask & London

Alto Calls Matspilles.

"BOUDAN"

"SOMALI"

FREIGHT SERVICE

loads 70th Dec,

for Spore. P. Swetion- ham, Penang. Colombo. Aden, Port Huden, Fort Snic Genea, Mackellien, Ant- Havre. London.

& werp, Rotterdam flomburg

de 121 Dec. from UK. walt 14th Dec. for Japan

With liberty to call at Delawan before of after Bijušie Ports and at Bombay if inducemrut offers, Tanka available for carriage of Oil in Bulk. Space for refrigerated cargo. 'Limited Passenger Recommodation

BRITISH INDIA S.N. CO., LTD.

walls Dee. for Singapore. Cirit-

tagong & Nangoon

“FULTALA”

"SIRDĦANA” alls 18th Dec.

"SANGOLA" fine 17th Dee.

walls 18th Dec.

for Singapore, Penang & Calcutta

from Calcutta. Rangoon

& Straits

for Japan

P. & 0./B. 1. JOINT SERVICE

tands 6th Dec. for Alagapott,

The

And it is unlikely family they wil

ever do so Government shows more Gove vincingly than it has done far that its own spending can- not be reduced without whitij- ing -down benefits of a

Until then fare state. average Britan will Fo on no paying tax on everything

haling R-London Mar. buy's-and Express Service.

Tetai

"Volumes and

open

interests

were:

Month Dre

wel-

Mur.

the

May

Juli

Volume Open interest

21.300 172.400 24,200 437,000 20,300 222,100 15,200 534,000

Singapore, Dec. 6. today Brokers

quoted following stock prices

the

46,200 109.100

Batu Lintang Rubber

Lla

Closing

$1.00

he

jkt

11,000 134,330

British Bortico

Petrolin

PEWO 13.dk

Ryndicate

42/03

Consolidated Tin Smelters

114.500 1,744,100 halos

NEW YORK

Ord.

20/01

Fraser & Neave Ltd. “Ord. $1.73 Fraser & Neave 7% cum.

prof

Hongkong #

Shanghai

Banking Com.

$0.00

$800

Hongkong in tia.

Kempas L10.

34.750

Lunas Rubber Estates Lux, $4.00

74.34-

33,37

New Serandah Rubber

Malayan Brewerton. $2.42%.

32.70

Ltd,

$155

31.00

Petaling. Tia Lid

$4.10

30.81

Raffles Holgi

$2.40

20,80

Singapore Cold Storage ..

$1.6

"OKILA"

29.02

South

British

Insurance

Biroit Truding

NEW ORLEANS

Berile Steamship

United Engirivors

$24.20

$10.10

War

314

104

47

paymenta

3776

health

to dominated in the world con- tract. The volume included Butler reminded the contracts posted in the May 60% nation

against business that

or delivery the burden

actuels. day social services te growing

Domestic futures eased with | May There has been an 081 by day.

increase in national asistance the raw market and selling July Cubat producer Dec. and the COBL

of credited to service has risen. There interests. Futures;

Prices of futures closed today

Wearne

ed,-China Mall Special,"

as follows:

"ITOLA"

"UILANA”

"OBBA"

in

Bpot

93.50

tec.

3427

Mar.

43.21

82.73

Oct.

Mar.

May

17601 Matarola Ing.

03.04 Montgomery Ward

in

68.00 National Cash Reg. "A" 185.4B National Dairy Prod.

the service.

education March

May Juny

3.13

-8.10

401

排版

72

Spot (cents per fo. sob zani

Contract No. 6

Marti

50

Don./Jan.

7035

May July September

13.45 6.50 ispot frente por b. clf NY

ox-duty}

******** 4.20 United Press,

MET/ADT.

May/June

July/Aust.

New contract

May/June

'JULY/AUR.

US Int Business Machines

tni Harvester

Sicel, and Republle Steel rose fractionally.

Coppers were strong in flection of threatened labour trouble in Chile which night tighten an alrendy difficuk sup ply situation.

Dow Jones

closing

were as follows:

30 Industrials

20 rolle

- ullur

averages

48110

Ingential Nickel

International Paper Int Tel. Tel John-Manville Co Kansas C Power & Light Kennerott Cooper Liggett Meyers Tub, Co Lockheed Aircraft

Loows Incorp...... Lone Star Cement Co Louisville & Poshville R. Lowenstein & Bon

Messini Iron Carp Minnesota Min

Mission Developme

160.70 Monsanto Chemical Co

68 stocka

40 bonds

Comm. future price index Camm spot price Index Moody's index

Closing Prices

Alden Inc. Key Allied Chemicals Allied Mills Inc. Allis Chalmer

American Airline American Cyanamido Am. Mach. & y dry. American Motal American Smelling Amoriban Tel & Di American Tob Anaconda Copper

Armbo Stocl

Arthour

Baldwin-Lartun-Yam.

Baltimors Ohlo

107,82 Natonal Distillers

407.50 National Lend

National Steel Corp New York Central

Olin Mathieson

Oils Elevators

$ 23% || Owen-Blindia Glass

Pacific Gas & Eléc

Pacific Western Oli

Pilipo Petroleum

Procter & Gamble Co.

114

25

Pan American Airways

Paramount Pictures

23%

67% Porny J. C. Ct.

Parke Davis Co,

Pan. Salt Co.

1821

St Philip Morris

66

714%

15

Publieker Industries

Piburan Phate Glass

16

Fure 011

47

Radio Corporation

Bendix Aviation Corp.

67

Republic Steel

Benguet Cons

1

Reynolds Metal

Dethlehem Steel

107

Shell Oil Co.

Bobine Airplane

Harden (The) Co.

Finclair Di

Burroughs Add Machine

Cohan Pacific 2,

Cao (, 1) Eo.

C. L. 1, Planetal Corp.

CHL. Trwator

Oblast

Chase Rani Dank Chrysler

Deli

Saint Reg. Popor

30% Booony Vacuum .

2014 South, Porto Rico Buger

15

Southern National Gër

Blandard Stranda

Standard Oll of Cal,

Bandard Oil of Ind.

Standard Ol of NJ.

Betting Drug Co.

Stokely-Van Chinp.

Bludebaker-Packard Corp.,

Bwift & Co.

TUXUS CO..

Tide Water

Twenty Century Fox Filzń,

Union Carbide.

Vrion Paglio fallway

United "Aircraft

Mandypeum)

V9, Rubber

meting

Warner Westinghouse

Falling a tax of this mort it The is diffleult to Tee where, maney is to ocmit tom to pay

Gov 2 for everything that the

ernment is now expected provide.

has also been a "distinct rise", Contract No. 4 (world)

coft of

All there are worthy causes September and the nation would not like 46%% to see any of them impaired. With them the public has on of obelal security.

assurance

14 But it also demands a security against The threat of external Degression - and that costa money too.

LIVERPOOL

31.07-00

20.73

20.63

79.50

29.33

Co. Ltd.

CHICAGO GRAIN|

New

MARKET

Chicago, Dec. 5. crop wheat contracts Future closing, in pence per turned easy on word of snow- 333 lb. were as follows: nan dia odatract

105 Future Experts Grateful, LONDON METAL

Mr Butler predicted that the 614 faturo Tax Experts and tax trities would be grateful to him

singularly disagree 18% for the

PRICES

London, Dec. 5. The tin market was very firth. Other metals were steady, Prices 50% able tusk" I have ever under closed today in sterling per long

taken in bronding the scope on as follows:

tax. He of purchne

joould 87% have added that future chian-Tin pot

-month

ORĀLI

Oct/Nov.

BAO PAOL

J

29.30

2017-18 23.85 22.10.

23.43

*3.45

Futures closings, in cruzeiros: per kilo were as follows:

fall over pirts of the Southwest during the weekend, but other grains Anished firm to moro than a cent a bushel higher (on the Board of Trades today,

Cold weather over the farm country, smaller-than-expected receipts and fieri cash markets brought increased. demand for Futuros and helped to counter- act profit-taking and scattered hedge-agiling,

The firmer acre in scybeans futures reflected higher prices for sybean meal, donkers PAINT Wheat closed unchanged to:

cants; soybeans (new) to 1% conté,

"ITAURA"

"URLANA”

-Madras,

Colombo, BOMBAY & Karachi

due 7th Dec, trom Karachi & Hombay, salis 7th Dec, for Japan

do

9th Dec.

from Bombay

A th Dec. for Japan

loads 18th Dec. at S'pore, BOMBAY,

Karachi Basrah, Khar- ramshahr & Kuwait

alle 24th Dec, Itoni Bombay sails 28th Dec. for Japan Joads th Jan.

ROMDAY, for 'pore, Karachi. Bastah, Khor- ramshahr & Kuwait

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

"NANKIN"

loads 8th Dec.

"EASTEIN" due in Dec. all 13th Dec.

for Sandákán, BADAUL, Brisbane, Sydney, Mick Dane & Adelaida. from Australia for Japars

All vesads have liberty to osil at any poris on 'or off the toute & the route & sailing are subject to change or amendment with or without notice.

For full poðirulars apply la- MACKINNON, MACKENZIE & CO. OF HONG KONG LTD. Telephone Nos. 27721-4.

Xtarih

My

July

23.60 29.45 * 29.20

-29.50

Buyers Bellern

bou

011

In the United States the average guióe of 16/10 middling

{up 1% 7:00 ebiton tri '14'-doakanın bod, report 500 ST15 morkets was 38.58 conts Sales up 110%. 11045 I totalled $1,887. bali#United

Mar

United FreeK.

London Foreign

New York Foreign

Exchange

Exchange

FAST: PAS

SERVICE

De cellors would be grateful too. Copper modt

Certainty Sit Kingsky

Wood bould

not have foreseen how Lend ist half Dec. purthime tankvrečká Revelop When he tirodured it in 4040, at hat-Buc.

in those days

of

purchasing power and discour NEW YORK METAL

Kse sperning tai.

first its actual contribution they wer eirort: WAS SOMER

raised just unde

A

FUTURES

MESSAGERIES MARITIMES

RVICE: