1955-12-21 — Page 9

THE CHINA MAIL, WEDNESDAY, DECEMBER 21,

1955

TRADE and OMMERCE SECTION

Page

South African Business Conditions Remove Artificial

SHOULD REMAIN

BUOYANT

DURING 1956

Johannesburg, Dec. 20.

Business conditions in South Africa are expected to remain buoyant during 1956, according to the Associated Chambers of Commerce of South Africa in a newsletter to members.

says:

WORLD COTTON MARKET

Now York, Dec. 20.

In one of the slowest sensions of the year, cotton futures today settled back irregularly after a steady start.

Plane Manufacturers HONGKONG

New

Highlight

York

Market

New York, Dec, 20.

STOCK EXCHANGE

(From Our Correspondent)

Business done on the Hong- kong Stock Exchango this morning amounted to $380,000.

ing's transactions;

Aircraft manufacturing issues highlighted a the list ruled 22 generally mixed and moderately active stock mar-Noon quotations and the morn points lower to one point higher.ket today.

At the close

The narkot opened off 8 to up New Orleans closed

Commenting on investment expenditure, the newsletter

capital "Expenditure on development--one of the main determinants of points. the level of business activity-may well take off 4 to 22 points.

reduced rate in place next year at a branches of the economy, including the new gold mines and uranium extraction plants.

WORLD RUBBER MARKETS

"

New York, g Rubber futures today cloted 40 to books Jower wlis mele, kul 217 contrac's

Pro-ho!uday

year-ui.d

evening-up operations provided the main interest in the femina! market.

Dea er

Intrn-swilebing

# -|

cou ted for about half of this trade Exchanges in briel May- March at 340 pour: July-May 190 and Sapt-May 350 pets.

In the spot market, a small busines: Included January three sheðis at 44 vente qua datanrɔ, four chee's at 1014 cuts pound, landed. Spot No. 1 H

4740 quoted nominal Furires

WELC

March

May

July

Sedl

Havi

SINGAPORE

Cents,

44.40 40.93

10

37.30

F

many

cotton stock The certinested rose 132 to 18,033 bales,

Traders side the lack of in- the oncoming terest reflected

orders of

Gains in the aircrafts at the close ranged to more than a point, Industrials finished a few Rail- conts higher as measured by the averages.

| road equities were down slightly.

MARKET

There was very little in the day's newa to sway prices

ther

However, the holiday season seems to prevail in Wall Street.

General

the Motors topped inost active list. The stock closed with a loss to $43 44. Boeing was the leader in the aircraft

way. d the CHICAGO GRAIN "Investment activity may la-year-tud holidays eren in other Aelds, however, position to awa.t the recovenint 13 January, when te meet the expected increased of Congress demand from a growing labour farm legislation is expected to

ong of De flest force enjoying a rising standard be

Desplie u o living.

recent business, eleckening In the demand for machine tools and other itmes Fef capital equipment, it is likely that the expansion and moderni- the dose. Tary will continue exi part by the competitive affect of factory modernisation and labour-saving installations faking place over-

Fridustries

Бейв

mulated in

"No marked chungo in com~ merelal and Industrial inven- torina is experiod.

Building Activity

Building wetivity should con- tinue at a high level. The value of bulleting plaus passed, for residential and non-residential buildings, has been running al slightly higher levels than ouring the coresponding months

year.

"Production of electric power expanding rapidly. The installed capacity of generator of the Electricity Supply piant Commission at the end of 1954 30.00-19 was 2,000,000 KW, and at the me date 930.000 KW were under construction or on order. the year 1954 152,000 The markel opened steady During

lower. KW capacity was used. From demand for with fair

In the afternoon, the these figures it is reasonable to grades. market sagged with little inter- deduce that a considerable par- tion of the capacity under LOL. Futures:

construction or on order at the end of 1054 will be in process of 121-120 120-27: completion next year. unquoted

"T30 expected high capital 120k-12424 123y-lzite, expenditure by the Rallways, as 110-Itap

well as other Government de- 72042-4454

should 00-100

be in im-. partments. 138-130 portant influence on the general volume of investment next year"

No 1 rubber per Pa

Jat.

Mar

No. 2 liber per 19 Jan.

Kr. 3 rubber per i Jan

No. 4 rubber per lb Jahan

Spat rubber unhaled

Hanket pe

No. 1 prie ciepr

LONDON

The market Was quietly steady with spot quoted at 371⁄2 pence per lb. Prices.

No. 1 Ras spoi

37-37

battlement fuumo termi

Feb

Mar

Apr/June

3071-9071 3616-309% 35-334

July/Sept.

Def/Dea.

21-321

301-3614

General marketi, eif basia, porta Jan. Feb. hatate crepe thin Jan. 391

AMSTERDAM

Interest Rates

But shortage of capital, suys the newsletter, and a tendency for interest rates to rise, roay limit capital outlays.

Chicago, Dec. 20. Business meanwhile WAS Most grains weakened on the mostly of professional origin., Board of Trade today after the Routine hedge seiling and pre- government's December 1 crop holiday liquidation was taken report showed higher-than- up by the brokers who bought, expected estimates on wheat Marca and May against

ues and soybean production, of July and later deliveries in

Was months.

shown

sales

the

In

forenoon. Little interest Liquidation of December

in the now crap { contracts also wis a factor

decline as this was the last trading session for these private 2:4male | grein deliveries, Win running closer to the seven mil- bale mark, solisticians Iton

#)

On

Dealers said demand for crude

Interest soybeans oll continued strong. refce:ing prospects of the sale of eight-million pounds of refined off to Greece on Thursday,

Open InterEAT

338828

A few of the high-priced oll shares managed to display considerable amount of strength, Gulf Oil improved a bit and Standard Oil Co. NJ moved up 1% points to $151 .

Westinghouse out in its section.

Electric alood

Of the 1,189

SHARER BUYERS SELLERS BALES BANKS

HK Bank .: 1720

Unloo

201730

INSURANCES

235

Leanbard

33

DOCKS, ETC.

K. Whart

се

70 20.30 2011

Dock Wheelock

LAND, ETC.

1K Hotel ItK Land

RUDBER

A kutser Thut

UTILITIES

'I ZA

Star Ferry

B.30 1.40 2000 1.30

קי י

0145 073

1.9J #3000 2.79 2.1 303

13

2.73

23.40 23 70 232

2315 1409 23.40 100 130

Y mati Ferry 101 104 100 or 102 C Light (0) 221; 23.03 700 në 14.00 1600 22.30 17,80 C. Likhs (N)

415 3 10 41% Telophaire INDUSTRIALS

Centon!

issues traded, 510 finished STORES, ETC.

lower, 398 advanced held unchanged.

and (8 Baky

Bajos today totalled 2,280,000 shares, compared with 2,380,000 shares yesterday.

New York

Block Exobange

bond volume was $3,822,000.

American Stook volume was 1,020,000 shares.

Exchange

Closing Prices

| Alden Inc. Acy

Allied Chemkamin

Allied Milia Inc.

Wheat closed off 1% to 13,Alle Chalmers rents: soybeans new unchanged $10 off vent,

CLOSING PRICES

Prices per bushel in cents: Wheat No. 2, sod

13012

j

Exporter old

curgo gured on a tightening supply white wheat to Koren end two

hereafter, although cargots situation

of grain sorghuma to the marke Norway and were awaiting word skeptics doubted immediate rallying power in from Brazil on offering of two- disposal million bushels of US corn and view of the

surplus scheduled

to get four-million programme

barrels

US ♡ under way right after the new year.

of

lard.

Volunte and open

were:

Month:

160

Volume

7,000

Mar

8,100

420,000

May

J6,000

12,400

240,300

Oct.

1000

100 200

Lage

2,3000

130,200

47,000

May

200

12.400

Postel

$2.004

1.800.300 hales

NEW YORK

Spul

Price of futures closed todny LB follows:

Dec. 2014" 203 (L)

Mar

May

July

$100 201

20346-94 1941

2014-200

Spel

35.000

Sept

196

Corn, No. 2, yellow

Jala

Spot

128

G

Dec.

124-128

11:4

01-00

Mar.

1287-11

May

1312-15

May

July

Bept

NEW ORLEANS

Rje

Dec.

Mar.

Prices of lutures closed today

Oats

as follows:

Dec.

Mar.

Boot

PS.ME

314-70

Spot Jan.

July

33.25

Mer.

Out

Dec.

*9.0:

May

ሉ : ኒ..

29.30

July

May

29.20

Bept.

Baricy.

LIVERPOOL

Sput

130-1400

200 lb. seçk

$13.00

Closings, in were as follows:

Ok contract

pence

per

ib.

WINNIPEG

Dec/Jan.

Mar/Apr May/June

23.80

Prices of grain futures closed

Canadiari toctory in 23.20

bushel as follows:--

conis per

22.65

Onto

May/June

21.09

Doo

July/Aug.

May

OGL/Nov.

24.00

July

Egyptian Karnak

28.70

Ryt

Dec

SAO PAULO

May

July

Fulure closings, in cruzeiros

Barley

Dee.

May

90,00

Ju13

20140

Flaxseed

$8.50

20.80

May

be should Captial Inflow estimated conservatively; it was only of the order of probably 50-3015

10 millian net during the first eight months of this year.

Readjustment of interest rates sumulate BOXO upward The market was steady. Prices closed today in guilders per kilo-movement next year, however, and the loan of £18 million to G11 the New York De ruised market and from the Interna tional Bank many result in an Creasca toai capitai xullow for 1950.

gram, cif January as follows:

No. 1 rubber

No. 2 rubber

No. 1 rubber

No. 1 cre

3.46 nom.

3.12 buyers

3.40 nom, 2.70 nom United Prem.

LONDON METAL

PRICES

, London, Dec. 20.

may

July/Aug.

New contract

South African products are un-per kilo were as follows:

"Falls in the export prices of

likely in view of the continuing! high level of economic activity

in the main overseas markets...

and the USA

the United

Kingdom.

Marcit

May

July

October

In the US, the average price of 18/18 mlddling cotton at 14 "The volume of merchandise designated spot markets

con- $3.75 cents. Sales totalled 30,- Other metals were also steady. Imports, particularly

The tin market was steady.

Prices closed today in stering, sumer goods, influences the level 485 baien-United Press. per long ton as follows:

of consumer spending both direcBy and indirectly ---- in-

buyers sellers directly because a forger variety

Tin

Hot

400

3-month

304

Sut

choice of gods in the stones tends to stimulate consumer sponding generally not only en imported, but also

on Bouth

Lead 2nd half

Airken goods.

Dro."

213% 114

Z 2nd half

Import. Quotas

pec.

Da

De

*United Prosti.

Mar.

WAS

Singapore Stock Market

1314

1182-4 1169-191

03.00

545-7

Soybeans, No. 3. yellow

New York Hotır

239-240 240

103%

721

981

3

C

230-23114

July

Whest, No. 3, northern, 10071⁄2 cents; Na. & 123 cents,

---United Press.

New York Sugar

Market

New York, Dec. 20.

American Airline Auneriem Cyanimide" Co. Am. Much, Mc Fdry American Metal

32334

Walsot

COPTONS

33 33 2030" 33

2015

18.00 10 30

000 7 10 200 14 10.10

13 13.00

Texili Сыр 3.60 0.03

MISCELLANEOUS

Allied 0.40 5.60

الها في المان

London Foreign

Exchange

A New York

Montreal

Ammlerdani Brussels. Frankfuri

241

6014

Labon

B246

Milan

American Tob. "B

American Emelting American Tal, & Tel.

19 Pars 1789%

Stockhol

BO

Zurich

+ Adecundh Copper

Armeo Steel

Armour ***

Laki-Lalivo-Ram Baltimore & Ohio

Benguet Con

| Bethlehem

Steel

Chording Facido R.

\03 (TC) DEKİ |

cất. Socior

Celanese Cory. Chile Copper

Chrysler Matora Colgate-Palmolive Co. Commercial Credit

Commonwealth Fięc,

Consolidated · Elson

Crniinental Of of Del. Continental Steel

Corn Products

Crown Zellarbach

| Cuban Ainer, Sugar

Curtis Wright

Diamond Alkal

Dow Chemicals

Dupont de Nemours

Eastman Kodak

Pao National Cas Erie Haltrond

Family Financo Curp. General Plectric. Generi

Foods

General Liaturs

Gen. Pub. Utk.

Gillette Safety Razor"

Glidden Co.

Goodrich (B. F. Co.

Goodyear Tire ...

Hayden Chemical

Homatske Mining Co. Ingersoll-Rand Inland Steal Co. Interchemical Conchines Int'l Business

Int'l Havation

International Nickel Int'l Tel & Tel

Karpacott Copper,

gett Meyer Tob, Co. Lorkhood Aircraft Loews Incorp.

Lone Star Cement Co. Louisville & Nashville R, Lowenstein & Bonu

Mesabi Iron Corp.

Minnesota Mining

Mission Development Monmanto Chemical Co. Montgomery Ward Mothrala Ine, so National Casts Reg. National Dairy Prod

| National builters

National Lead ..... National Steel Corp. New York-Central, Din Mathiesen, Dils ElevatoES ....... Owen-flinois Glass Pacifle Gun & Misc.

·Paathe Western Oil Pan American, Airways Paramount/ Pictures Parka Davis Co. Penty J. C. Ca... Penn Bali Co... Philo Morel

Philos. Petroleum Pittsburgh Phew Glass

World No. 4 mugno futuron 20-Publieker. Industrias

Pury Oli y

day closed one pains higher with

Radio Corporation [no sales.. Singapore, Dec. X1.

Reptablin Steal Horgoles MetA According to ministerini Brokers today quoted the fol→ The domestic No. ✪ contract shall Ou Co. statements, consumer goods ira-lowing stock prices!

closed 1 point- lower in 1 point Saine. Her. Paber port quotes seem likely to be

Opening higher with sales of 20 con- Sinclair. Ölf 12.30.ed|truct,-

NEW YORK METAL substantially larger allocation ta consolicited

FUTURES

New York, Dec. 20. Prices of metal futures closedi today in canta per Maį se follower

maintained in 1960 at much the Bain (Antang Rubber same level as during 1950; aprilia somen

Byndicat unlikely

unless some unforeseen Ord Improvement in our bence of Traser parments occurs," concluded the axer, Harve

Special, Hongkong -China

Exchange Rates

the followingE/TALJOB:

(per 100)

MAKE

The domestic contract ruled steady in line with the highes raw rourkel, Futur

South Ports

London, Dec. 20.

2014-2.803 2.00-3.80)

70 62-10 0475

138.50-130 8015

11.73-11.734 80.00-09.10 1738-1788 98134-992

143144-14.311 12.2435-12.23 New York foreign exchange rates were not received.--United Press.

THE

Trade Barriers Says Macmillan

London, Dec. 20. The British Foreign Secretary, Mr Harold Macmillan, today appealed for greater freedom from “artificial barriers” to European trade. He deplored the "drug habit" of big protective systems,

+

Mr Macmillan anid: "If | liberalisation and expansion of France and Britain and olhor Franco-British trade-France- countries of Europe are to Presse. itourleh, they must increasingly trade with each other and the moro that trade can be free from artificial barriers and the less it has to be stimulated by

pids, artificial

the better t} will be in the long run for us all"

He continued: “11 1, true that sick patient often requires a shot in the arm, but this form of stimulus should be occasional and short and should not be

-habit. As Individuals come a can become enslaved

the drug habit, so can nationa enally become addicts of high protective syslems."

to

Could Not Continue

Mr

to

who

wak

London Market Dull Before Holidays

London, Dec. 20. Stocks wero quiet on the London Exchange today with declines slightly out- numbering gaina.

con-

Traders cited holiday Macmillan,

and unconfirmed addressing the French Chamber siderations

Cabinet re- of

In Commerce

London, press reports of a the

shuffling as reasons for dullness. referred

"stortlit," increase in French Import to Bri- Favourable corporate Down tain, but warned that this was kept all shares in favour, but not matched by British imports small declines were distributed to Frame and that this one way ifberally In-mainder not continue

Industrial truffle could

definitely.

The French

throughout the

N

of the

section.

10

Chauval, buying.

Bowater was a Arm exception aided by local and American

Gold

share, improved good overseas

nt

14-

Ambassador M. Jean agreed in his reply to the Bri- Lish Foreign Secretary Franco's exports to Britain for times with

that

the past ten months of 1986terest noted for selected Orange totalled £147,000,000 as against Free State development issues. Britain's total

of £84,000,000

in exports to France.

The Ambassador said, how

ever, that France's favourable WILE balance of £50,000,000 more apparent than real, as the surplus was needed to buy materials in the Franto's raw sterling area.

M. Chauvet gald be hoped

would 1050

bring

stocka

British Government had losses to almost £1 on lack of support and routine sales.

appeared An improved tone

fa foreign liens with German and Chinese bonds dominating on overseas buying interest. Japanese lens were easy.

Dollar stocks were mixed. -** further United Press.

FINEST VALUE EVER OFFERED

THREE DOLLARS

Ton of