1955-12-07 — Page 9

THE CHINA MAIL, WEDNESDAY, DECEMBER 7, 1955.

TRADE and

COMMERCE SECTION

A Special Correspondent Recently Returned From The West Indies Urges:-

Make Use Of British Guiana's

Idle Acres

London, Dec. 6.

"British Guiana,” said the stockbroker "That's the place with the world's rarest stamp.' "British Guiana," mused the lawyer "That's where they had a Communist other. "British Guiana-h'm,” murmured the eye specialist from Harley Street~"Isn't that somewhere near Devil's Island?”

11

Government

sometima

or

Such was the reaction of my colleagues in the compartment travelling up to London when they heard I was just back from British Guiana. I couldn't quarrel with the accuracy of their comments, but they did not throw much light on Britain's only colony on the South American mainland.

Nor did they reflect the main Impression which I formed of British Gulana MAY

briet This first and crowderi visii.

of children--t and inst-WIS

ཟ-— every colour: of children play- shanties which Ing round the litter the coastal roadside from

lo New Amster Georgetown

scompering dom:

children down the school steps, well- dressed and on the whole re-

clean:

and markably

happy smiling, with not a cure in the

moment. world-for the

of

But what of the years ahead? To what future can this young generation of Guinuse jook forward? Twenty years ago the population of the country was 320,000, Today it is not far short of half a million.

Penned Up

How are these ever-growing numbers going to find a liveli

There in British Guiana hwood? is no industry worth mention-

to factories

absorb ing--no people by the thousand or even by the hundred.

Most of the comtry's produc- tion is permed up in an area of not much more than 100 square milen- good deal less then the Isle of Wight. For that is the space taken up by sugar under actual cultivation and the mining of bauxite. And sugar and bauxite account for four-lifths of the colony's ex- parts,

by

Their tivating or mining i Interests are focussed on law books and stethoscopen rather than on picks and tractors or trolleys.

are

shovels.

For, out of 183 young people Britain no rewer studying In them 57 are rending low: 42 are taking medicine, while 48 young

learning

to be women

Not a nurses

a single student has elected to study agriculture, Yet what else but the land can

Increasing the rapidly

Gulana? population of British

land The

will not produce a fortune for those who farm it but at least il can sustain them.

And

is land-fertile there land avaliable, mostly along πίνετε. It would the great

悲

Lord Tweedsmuir

WORLD

COTTON MARKETS

New York, Dec. 6. Cotton fulures turned to

after irregular day

with

new buoyant start crop deliveries becoming re- latively easy.

Commonwealth & Empire Chambers Of Commerce Elections

London, Dec. 6. has been re-elected

Lord Tweedsmuir President of the Federation of Commonwealth and British Empire Chambers of Commerce.

Mr John R.K. Tyre. Chair- men of the Council, Mr Charles D GUL Deputy-Chairman the Council and Mr H. Alan Walker, Treasurer, were uiso re-elected.

Lord Tweedsmuir is a direc

Brilh Ster.mihip for of the Co. Dalgety and Col. BOAC and several other companies. He was Chairman of the Joint Eust and Central African Board

Rector from 1930 to 1952 and o: Aberdeen

University

Í 1948 to 195:

'Great Pleasure'

In his address to the Federa- Hon's annual meeting he said it had been a great pleasure Lu preside over the welcome to the Vancouver Buying Mission when they visited London last April.

We all greatly

appreciated their visit, and, for me, it was a spucial pleasure, having spent 11fe a substantiat part of my gher in Canada or the Cana- 5,dian Army and having bad the honour of commanding a Com. 10pany in the Vancouver Regiment

$n the best war."

At the close the 1st ruled points higher to 9 points lower. The market opened up 3 to points New Or,cans closed to 9 points higher

have to be tamed, for at present

of forest trees, estimating the # jungle

y 1 finest r

month or more.

scrub, long grass and lianes. lies, much of i, unused and un- occupied, though not unowned, for some is in private owner-

ship.

On the one hand, then, is idle land. On the other there soun will be idle honde-the hands of a people skilled in tilling the soil and used to living frugally. If the two can be brought together it will go some towards kolving way at least the wants of the next generation,

Expensive Business

Land settlement of course, is an expensive business, or at

Australian Trade Deficit

Dec. 6.

Chuberts,

A

„Australja's "foreign tradę dailash the period cha ing November 1955, was £A34,000,000, decrease of ̄ ̄ ̄£A£6,400,000 ** against sbo, ERION period of 1954, It was announced here to day.

«For the maith of Novem- ber. Australia showed favourable trade bilanço of £A3,500,000, the first since July--United, Press.

Industrial Shares Hit New High

In America

لمانان

NANA BA

#

Kavk

New York, Dec. 6. Industrial shares broke through to new all-time high ground on the New York Stock Exchange today..

Gains in the industrial group ranged to around one point. The previous all- in the industrials was established on Sept. 23, the session just before President Eisenhower's ill

's illness:

HONGKONG time high

STOCK EXCHANGE

Monsanto Chemifol

Afission Development

Montgomery Ward Motorola ing,

Steel shares as a group paced | Minnesota Mining the advance. They were generally active and tractionally higher.

Market news continued highly favourable. Optimistic business

with earnings again bolstered the list.

CHICAGO GRAIN (From Our Correspondant) forecasts, coupled good

MARKET

Chicago, Dec. 8, Wheat futures held up on prospects of large export sales, but other grains backed down to close steady to wesk on the Board of Trade today.

Moderately action te short covering reflected cold weather

Business done on the Hong

Exchange this kong 'Stook morning mounted to $320,000.

Noon quotations and morning's transactions:

the

SHARES BUYERS SELLERS SALES

DANKS

K Bank.. 1003 INSURANCES

Union Labinard

Dock

over the farm belt, limited ar- DOCKS, ETC. rivale of cash grain and light hodge selling, truders said,

910

M

dividends

Du Pont stood out in the chemicals. The stock ran' up 2 points to 304.

Motors shares tacked ou small going.

*

Delaware and Hudson, whs to

· beilwether in the carriers. 10 spurted 3 points to $80, a new high.

National Delry, Prod. National Cash Reg. "A" National Distillers National Lood National Steel Corp New York Central Olin Mathieson Olle Elevators Owen-Illinois Olas Pacifle Gun & Elec,

| Pačiše Westem Oil MAY

Pan American Airways Paramount Pictures Parke Davis Co Penny J. C. Co. Penn. Salt Co. Philip Morris

Philips Patroleum

Procter & Gamble Co.

Youngstow Sheet and Tube pased the steels. It tacked on Publicker Industries

Pure Oll a gain of 1 points to 3101 Radio Corporation

Copper Range, sparked the metals. It moved up 1 points to $40%,

.

Closing Prices

600, 17.30 Aldon Inc. Acy

Export sales

Included moderate amount of US grain sorghums and some US ryc 10 the Continent and a smaller lot of soybeans to

Japan

ond Western Germany Exporters sid Formosa la scheduled buy one-million bushels of US soybeans

Jermany- April shipment.

A

291 20.00 2000 @ 2915

821 < 29,00 500 29,70 100 g 30 Provident (0) 14.40 14.00 750 1414 Wheelock 0.13 820 1000 8.18

LAND, ETC.

IK Hotel...17.20 11 Land

12

01 € 325

S'hai Land

1.09

to

100 1.10 1000

1

for

Humphre Really

10.00

1.50 1.90

RUBBER

sche Exporters tonight age duled to submit offerings of one million bushels of US West Coast wheat to India 1,500,000 bushels to

about Formosa, and about 8-million bushels to for purchases tomorrow, also will receive offer

In the old days the Common- wealth, as a whole, demanded But netivity slackened on the protection against the competi- with ring 6'servers tion of the trading world out- setbacks

voluine as the side, he added. Now there was in growing up an increasingly sharp

competition between different Japan also Commonwealth countries-Lon-Inge on 0,300,000 bushels of US wisdon Express Service,

and Canadian barley tonight. Wheat closed cents; soybeans

The trading slow-down coupled with several factors: 1. The impending government Thursday; 2. report on Crop Evening-up in the expiring De cember delivery: 3. Approach of the usual holiday tradinut Jull; 4. A desire to await and study the farm legislative pro-: posals expected to be introduced 1 Congress in January.

Nearby

held ro- December latively steady, although the notices circulation of delivery

for 000 bales brought in sea'- tered realling. Open December

Slower Dealings In London

contracts available for delivery fractionally higher today in the certifiested stock remain~ ed at 10,376 bales.

in slower dealing, with The average guess on this some profit-taking reported year's cotton crop by some in recent favourites, notably members of the New Orirans steel shares. Cotton Exchange was 16,141,248 bales. The highest guess

to off dini.

A Rubber.. 1.85 1.925 3000 (4.1.90 Thut

1.80

brturis

Yimati Ferry. 101

U: Lightë (9)

XI

C. Liga

(N)

21.00

1016.30 650 40 10

Electric ... 39% 303% 1900 2014

Telephone

INDUSTRIALS

up

4/8 to 14 (new) up 4

Cement 33% 3

Rope

STORES, ETC.

10

Watson

CLOSING PRICES

Prices of grains in cents per bushel:

Wheat No. 2, red.

13444-% 13642

134

1000 @ 324

COTTONS

Textile Corp 5.85 5.95 1000 5.00 Napyang 8.09

WORLD

RUBBER

MARKETS

Spot

21021

Dec. 2015(H) 205 (L} \\ ^20839-})

Mar.

200-4

May

203-203

July

· 19255-16

London, Dec. 6. The stock market, moved

Верь

Corn No. 2, yellow

Spot

13015

•

Dec.

Mar.

May

July

Sept

+C.

MIT.

Volumes and

where:

over

wng Today's buying was selectivS 15,489,158 bales and the lowest and receted yesterday's firm- 14,780,000 balta,

ness in Wall Street, higher com-

VĂN open interests, riodity prices and good carnings

and dividends.

Dec.

Boybeans No. 2, rel

Spot

Mar May Jur

Vajuma Open interest

Dec.

19,000 100,000

Mur.

24.000

May

33,000 534,000

Barley Siglo

July

221,000

Oct.

13.000 18,000

New York flour

200 lb. wack.

7.1

Dec.

5,500

Mar.

May

Total

st has proved to be in thia past, mainly because too much has been done for the settler. British Guinna's economy. There is no need to run it on u Juvish scale in British Guiana. La today, prosperous though it is perched on a knife edge: On Let it be known that suitable the coastal strip sugar reigns, applicants can have a block of and so long as the Common-

hand for a nominal rent, telp wealth sugar agreement is

main-bom

them clear it of its more stub-

obstacles with tained to give a fair deal to the producer, so long is the in- mont machinery operated by a them dustry assured of

team: give market, But

repayable output is "quoted" and while it is unthinkable that the many years, from a land bank; Month

through until Agreement should ever be torn

them

Lic

tom and see It is unlikely that the pre- their first harvest, verit quotas will be greatly

UP

varied.

govern

Fallures, of course, there will There is, thus, littlebe, but n pioneering spirit, the will to work and, above ail, the room for expansion. Moreover, the Enbour force must surely knowledge that the land they tend to go down rather than up, are breaking will be their very as more mechoncial devices are own will carry many to success.

Moreover, pride of achieve introduced,

ment and pride of ownership surest defence against la the communism. At least the pèriment is worth trying

-(Lordon Express Service:

Most Important British Gulana's next most important export is bauxite, of which over two millon tous a year pre mined, and sent to The world

Canada for minium

demand for

a

CX-

New York Sugar Market

1

insatiable. So long as it Unues and so long as Fritsh Gulona bauxite is not priced out

world markets by excessive World No.

New York, Deo. 6.

4 sugar futures make wages this mineral will

closed today unchanged tu handsome contribution, direct and indirect,

sales of 53 govemment point higher with revenue

and provide employ contracts. ment for a few thousand hands. In the export list of mineral are, diamonds and gold: büt these offer no employment World contract was in a quiet except on the smallest scale. trade today.

while domestle more active.

$39,700

139,500

2,400 48,000

600 10,300

Dollar stocks wtre mostly Sept higher.

and Nochanga Rhokoann featured/ strong copper group. Tins improved as strength in the metal price increased interesi in

117,100 1,734,400 dales | the shares.

NEW YORK

Prices of futures closed today as follows:

Spot

Dec.

Mar

MAY

Judy

Dot.

Dev

Mer

May

NEW ORLEANS

Prices of futures closed as follows:

Spot

Dec.

Doméstie Na.. 6 sugar futaires aldsed unchanged to 1 point higher with salce, of 08 con- Trácia.

Mar.

May

Juny

Ocf:

Deo Mar

May

Lastly, there is rice set ruures tuned

to sugar among agricultural Oxtures:

ports and the most important Contract No. 4 (world) domestic food

33.50

368868388

31.70

사

Olls, were Food, paced by Royal Dutch with a rise of more £1. A tate selling drive in British Government bonds holied a rally and drove prices,trac- tionally lower.

Rubber osues showed wide going, reflecting dividend hopes and high yield considerations.

Industrials held firm, with interest selective,

Trading, in gold shares was

dull with prices about unchanged. today-United Press:

34.90

34.43

LONDON METAL

PRICES

31 39-40

34.70

29.73-77

28.07 229,41

(29.23

this afternoon, while copper,

London, Dec. 6.

The tinmarket, was easier

lead and zinc werò all quite,

$13.50p

WINNIPEG PRICES

New York, Deo. 6. Rubber, futures today closed 007 to 75 point lower with skles? of Mỡ vontracts.

Evening up in December and switching operations between dealer interests and commission houses made up

most of the terminal market activity..

In the spot market, factory buyme, Teroalged uninterested, with business at a sub-routing rate, Spot No 1 Ras were quoted Prices of grain futures closed as 511⁄2 cents a pound. Futures: today in'. Cathdian dents' phi bushel, as follows:

at

Dec.

May

July!

Doc.

• MAY

July

Barley

Дес May

Flaxseed

Det.

MAY July Wheat

Dec.

Mar.

May

Jule

Sept.

Dec.

SINGAPORE

51.35

44.70-75 40.00-00

34.İD

The market opened Arm on better advices but eased in afternoon, on profit-taking and Uiquidation. The market closed rather, erratic............ Futures, may

Jan. 1294-ED"

| Np. 1. rubber varƐlb.” No. 3, northern; -, 184 conis: No, 3, 122 cents-United No. a rubber bar 15.0

Press.

Singapore

No. 3.rubber par lb

Spot

Dee, 177–103

Dea

rubber; unbaled, blanket crepe

| No. 1 pale craps...

LONDON

Prices closed today in sterling Stock Market The market was CARY

Future closings, in pence per per long ten as follows:

LIVERPOOL

9.1

lb.) were as follows;

3.16

out contra

3:16

Spot-Itente per. Ib. fob

Doc/Jan.

стор

Riec weet March

May July Sept.

Cuba) PA371) [Open Inbereik. 1397" mont

Contract No. 6.

on Ideal crop for the Enst Indian peasant farmer who la working at something, bo la.

with; ind' the

"Obverd- production. Brated to

Its

could

is heavily

Supply

Gelana

the whole Carib

bean with rich and her, somet

But here the question, of Boosteet per in. whether rice can expand, but ready

Will it payt For whils

world

∙rics spisleg these,

and prices are. on

grade, why they fail to p

uneconomie love?

Thons Industries,

their

Templby, onl

force they cannot

- Open, Interest 1901.

4,00

YORK SILVER

PRICES

Mar/Apr. May/June Jul/Aug.

Now contract

May/June

I

July/Aug,

Oct/Nov.

Egypian Karnaki

Jan/Feb

NAD PAULO

per klo

28.43

24.50 22.06-23.00

Tin pot

3-month

Copper-spot

3-month Lent let hall Des.

Me, Teb Zine Jst half Dec...

with

sput quoted, et 36% ponce por Ib. Prices:

burocr› sellare BON15" BON J.

197

I

"G. Unuted Pikmi

Singapore, Dec. 7, Brokers today quoted the fol- 110 115 lowing stock prices

Opening Baju Lintang Rubber Co.

$1.70 British Bortieo, Peti

“dynatoste Consolidated'

No. 1 Ras spot Battament house ter

Jan.

NEW YORK METAL & fe

FUTURES

Hongkong

Rates

Allied Chemicaly

Allied Mills inc,

Allis Chalmers

American Airline

American Cyanamide Co

Am. Mach. & P dry. American Metal

American Snelling

Am. Sugar Ref.

American Tel & Tel xd, American Tab: "B"

Anaconda Copper

Armco Steel

Armour

Benguet Cons.

Bethlehem Steel

Borden (The) Co.

Burroughs Add Machine

Canadian Pacifio I

C. I. T. Financial Corp.

Cat. Tractor

Colanese Corp.

Chase · Manhat. Bink" Chrysler Motors Colgate-Palmolive Co. Commercial Credit Commonwealth Edeo. Consolidated ́Edison Continental Old of Dei. Continental Steal

Com Products. Cranei Co.2

Crown Zellerbach Cuban Amer, Bugar Curtis Wright Plamond Alkali Dow Chemicals Dupont de Nemours? Eastman Kodak Chodze

El Paso Nationar Ups A. Erie Rollroad

Family Finance Corp.

General Electrée

General Foods

Gonerat Motors Gen. Pub, Util. Giüajte Safety Razor Glidden

Co. Goodyear Tire

Heyden Chemical ingergott-Rand

Inland Stanly Co.

Interchenical Corp. Int'l Business Machines' inti Harvester....

international Nickel Int'l Tel Tol Kortis C Power & Light" Kenpoceti, Canpara Liggett Moyers Tob. Co. Lockheed Aircraft Loew Incorp. ... Lone Star Cement Co. Louisville & Nashyilip Lowenstein & Sons Mesabi Iron Corp.

#233

33

079

Republle Steel Reynolds Metal

Saint Reg, Paper

Binclair Oil” V3.

Becany VacuLin""

Bouth Porto Rico Bugar Bouthern National Gas Standard Brandı.

11816tandard Oll of Cal

Standard Oil of Ind.' Standard Ol of .N.J. Sterling Drug Co.

645 | Stokely-Van Camp.

• 25k Studebaker-Packard Corp.

579%) awit & Co.

481% Textile Co.

Tide Water. Ausn. Dil ....

17814" Twenty Century Fox Files

"days"| Union Carbide

71

Union Pacific Railway

844

United Aircraft

10

U.S. Gypsum

193

U.S. Rubber

US. Smelting

04% U.S. Steel...

Warner Bros.

Ms Electric

4035 West Va Pulp & Paper 60% Woolworth

+

London Foreign Exchange

New York

06 Montreal

Amsterdam

Frankfurt

Swckholm

545 burch...

London, Deo.

2041 | Others were unchange

477

Sath

}

409

United Presa,

New York Foreign

Exchange

New York, Dec. 6.

$1,00

•England offale

30-day futures. »

·00-day futures".

Argentina“ Urneny

Öthers were unchanged.

Those

United PreRT.

Christmas Gifts

will look better

Personalised

We undertake gold lettering on Wallets Briefcases, Hand- bags, Camera Cases, Diaries, Shaving Kits, Manicure Sets, Books etc., etc., etc.

Commercial・・ enquiries also

for gold blocking, on articles

plastic

wood, leather,

South China Morning Post Ltd.