THE CHINA MAIL, WEDNESDAY, DECEMBER 28, 1955.
TRADE and
OMMERCE SECTIO
Australia Urged
Urged To Reduce Lightweight ||NEW GADGET FOR
Production Costs
Sydney, Dec. 27.
The necessity for Australian manu-
New Importfacturers to do more in the direction of And Export encouraging exports was stressed recently
Records
Department
Washington, Dec. Zi The Cuminerçe reported today. that US in-
parts of foreign products in the July-Sepit nitær Fordha were
the higher un record for that
three-month period.
reducing production costs and
by the Minister for National Development, Senater W. H. Spooner, who said that it was heartening to find so much of present manufacturing development in fields which would contribute to the nation's strength.
A third of the value of new manufac-
It rand mrchandise mugursturing projects begun since 1945 had been
during July. August.
September totaled $2,800.000,-
(300) -soma $360,000,00
The rem pred a Mag
US export of goods mid set- vices to for lan
alled $4,750,000.tu
highest totul for the tree. month priodi
~40: 194?
$800,000,000 above the period.
The Departmen analysed US foreign trade in 11. ronthly publication, Survey of Current
Business.
undertaken by companies wholly or partly owned abroad. Many of these projects had been designed to produce goods previously imported.
A ve year pargramine now. being curried
the out
by
New York Rubber; Broken Hill Ply Co Ltd would
Market
reduce greatly Austrulin's pendence on imported steel.
1
de
New York. Dec, 27. Four big o reineries and a Rubber futures today closed smailer unit, costing more than iwchanged to 30 points lower £A108,906,000,
rendy in with sales of 220 contracts.
operation or alt
begin. to Holidays It said that when private and
London ut
and would bring Total processing RILIB. government
кюла and Singapore markets put the jocal capnelty 48,000,000 tong of almost suff- investmen s brou
market in tune of quietude, crude oil a year,
2
meet Australia's cient fo bined with the import total, It About half of the business was brought total US payments represented in dealer switching ; quarenients, foreign countries In the third period to $5,300,000,000-le ! new record for the quarter.
The
ALL COINI –
total payments were some $800,000,000 larger than in the 1054 period.—United Pysk
corresponding
options.
In the spot markel, Spot No. I Ras were quoted at 47 cents Fulures were:
Murut
May
July
St
Dee
a
46.00 42.30
36 70
United Press,
LIGHT TURNOVER
ON NEW YORK STOCK MARKET
New York, Dec. 27.
Stocks moved in irregular fashion today in the lightest turnover since November 21.
New Vehicles
in
T
the
Loenl manufacture motor vehicle Industry would represent the equivalent of at least 120,000 at the 230,000 new vehicles registered in Australia
1 1954-65.
By 1038 local manufacturers should be producing the equiva-
lent of at least 170,000 vehicles. Local companies were exporting motor vehicles on a small scale, and prospects appeared encour- nging.
Van In U.K.
This lightweight van produced in Britain is cailed the "Little Horne", and according to lis manufacturers it could be the answer to the prayers of the small manufacturer-running cont in only 311⁄2d per mllc. Price is £347 16s (including tax); power comes from a twin
cylinder, aircooled, two-stroke engine of 250 co-Express Photo.
Cocoa Tops Rubber Colonial Exports
In
From An Economic Correspondent
London, Dec. 27. Cocoa replaced rubber as the biggest-earning export of the Colonial territories last year.
And
it climbed to first place despite smaller shipments overscas. The rise in its earnings, from £85 mil- lion in 1953 to £130 million last year, was more than accounted for by higher prices.
These higher cocoa earnings helped the West African territories to increase their export income last year to £230 million in 1953.
This is a vealed.
.
today in a pines, this accounted for hardly
CHICAGO GRAIN|Pr: qu Commonwealth trade, more than 10 per cent of the
MARKET
Chicago, Dec. 27. Wheat,
and
soy beans FyL mide gains, but other grains cased in quiet dealings on the Board of Trude today.
Foreign demand was slow because of an extended holiday in Caruda and Europe.
Industrials finished off a bit average while rails had a small rise theirs.
Un
in
nator Consolidated. Edim
4756
n
Contimental 04 or Del Centinental Steel
201
37%
14
29
future
30%
25543
0134
Sagging prices for stocks, reflecting talk. decline in auto production next year, weighs heavily on indus- lats Chrystor fell more than
2 polirts and General Motors well ever a point.
There was considerable selling ulretufts, also, with North American Aviation down more than 2, General Dynamics more thon a point and United Alt- credt nearly 1.
ira oils, Standard of Jersey
a point improved almost Houston Ou lost almost 3.
Santa Fe Up
į Cora Products
Crane Co. Crown Zollerbneh
Cuben Amer Sugar Curu Weight Diamond Alkuli
Dow Chemicals
Dupont de Nemour Farinaa Kizak El Paso National Cas
Erie Raitrund
General Electric
Beistering the rails, Santa Fe Ingersoll-Rand
rose nearly 3 points.
Trading.
despite tho
day hoilday. fell off to 2,010,000 shares from 2,000,000 cn Friday, There were 1,168 issus dended. 490 were lower, out of which 419 higher.
Activity centred in General
'Motors.
International Nickel
mtl Tel & Tel International Paper
Liggett Meyera Teb, Co. itekheed Aircraft Loews Incorn. Lone Star Cement Co. Lowenstein & Sons Mesabi iron Cory. Minnesota Mining
There were good gains in numerous special issues-Min- nesota Mining and Manufactur- ing, West Virgina Coal and Coke, Fruchnut Trailer, Continental Mixton Development
Can.
Monsanto Chemical Co. Montgomery Ward
New York Stock Exchange National Cash fer. "A bond volume was $3,800,000.
National Dairy Prod. National D¦Killers
American Stock Exchange National Lead
volume was 1,150,000 shares.
National Steel Corp.
closing averages New York Central
Dow-Jonos
were:
30 industriais
20 rails
15 utililles
65 tacks
40 bonds
Comm. future price index
Comm, spot price judex
Moody's Index
Closing Prices
Aldan Ino. Ary,
Allied Chemicals
Allied Mila ́Inc.
Allis Chalmers
American Airline American Cyanamide Am. Mach.
American Emelling Americm 70 A
Amerton. Tob.
Aziaconda: Copper Armes Steel Armour
ary
4035
On
Dealcra said support in soy- beans intures
based wis Bra
for bean moal price paid
for and edible oils. Prospects
stles in the near continued
large export
10 bolster
soybean and edible oil markets.
In 1950
Cocoa Earnings
In 1961-65 By the Common- totul, compared with 17 per cent wenith Economic Committee.
Exports earning from rubber, petroleum products, tin. and sugar were all maintained at the 1953 ker but oliscesis gained 29 million to 284 million
Relatively muderate increases in East Afries and Malaya left their exports well blow the high levels attained a few years ago, says the CEC park, but West Indian exports continued 25 to expand end were neurly per cent areater last year than In 1953.
and Rubber
lin
were all high
of dollar the list ob carrers, but income from these two commodities hay fallen sharply over the past few years. Rubber carmed 60 million Collars in 1934, compared with 260 daton dollars in 1952 and 186 million dollars in 1951.
Hongkong's exports ['ll again | coffes for th fourth sion.
year in surees- dollar carners.
Show Increase
US Cigarette Production
Washington, Des. 27. The Agriculture Depart- rent said today cigarcite output In 1955 totalled 414,000,000,000-enough for about 125 packs (of 20 cigarettes cach) for cach man, woman and child in the United States.
The 1955 outpus three per cent more than in 1954, but five per cent below the record output of 435,500,000,000 in 1952.
The
Department eaid cigarette consumption prob- ably will make a gradual gain in 1958.
Suppites of flue-carou and burley-the major clgarette tobacco—are very largo, the Departament said.
United Press.
HONGKONG
STOCK EXCHANGE
¡From Our Correspondent)
Stock
SEA OIL EXPLORATION
London, Dec. 27.
A giant three-decked steel platform, mounted on seven legs 370 feet long, is America's latest gadget to aid her quest for oil under the sea,
This futuristic-looking struc-, that, even twenty years or so ture has been designed to stand | ago, seemed hopelessly out of off the Cailfornian coust. There | révéh, can now be added to the it will operate in water up to world's ayollable oil resources. 300 feet deep.
----London Express Servion,
Its predecessor, built for drilling in the Gulf of Mexico, can only work in depth up to 100 feel
Named
'Peristyle'
The "Peristyle", the new model is also mobile but It is circular in shape instead of rectangular,
It mounted on a kalsson, or hull. 180 reel RICORN and 40 feet high.
After the whole structure
has been towed to the drilling site is part slides down the legs to rest on the bottom. 1s huge legs. with cutting edges, dig into the sea bed to act as Jan anchor
WORLD
COTTON
MARKETS
con-
New York, Dee. 27. Holiday conditions tinued in the cotton futures market today in one of their quietest sessions. Prices sco-sawed irregularly but favoured the upside most of
to 11
The drilling platform is sup- ported 30 fool above water the time. level by the seven legs--hollow steck tubes nine feet In At the close the 11 ruled 2 diameter.
points higher. Opening Bore-holes can be runk by prices were up 3 to 12 points. the New Orleans closed up 3 to 10 erceting the derrick over open end of one of the support- | points. ing legs. And lowering the Nearby March continued to
meet drilling-string_through_11."
realising and hedging whenever the market crowded close to the 34 cent line.
in
By using each leg in turn and by slanting the bore-holes different directions it is expected that 21 holes can be drilled from a single site. This means thot 15 square miles can be explored without having to move the "Peristyle."
The need of some especially designed structure A5 tho Peristyle for operations off the Californian coast arises from the deep, uneven nature of the ocean-bed there.
The heavy rate of · producer impoundings under the govern ment loun and expectations that entries may increase after the New Year, acted to discourage new selling while the rank and Ale of buyers marked time ped. devange Ing Washington
season
The NY Cotton Service Bureau estimated world crop of commercial cotton,
this 38.6 million around Instead of sloping
То- gradually bales, a new all-time high, nway from the laud, as in the tai
was placed ・・ world supply Gulf of Mexico, drops al- around 60.1 million bales, also most precipitously; it is also American cotton abroad the be- 0 new peak. The stock of
intersected by A number of deep underwater ravines,
Prepare Site
In places' it may even prove necessary to prepare a level site on which the hull can rest before the Peristyle operate.
can
ginning of the season was A little more than 寇 million bales, the smallest since 1944.
Tho
certificated stock over
the holidays declined 181 to 17,-
Volume anch
888 bales.
WCIC: Month
lic
March Muy
Whatever difficulties ulread, however, the equipment proves one thing: oll deposits July
Singapore Stock Market
Singapore. Des. 28. Brokers today quoted the fol-
Cocon corner! rather more dollars last year, thanks to an from increase Jez shipments Nigeria. Copper. Sugar and
were alo important East African
Business
done on the Hong-lowing stock prices: coffee earned 22 milion dollars last year, twice as much as In kong
Exchange this Batu Lintang Rubber Co.
Ltd, morning mounted to $400.000. 1933.
British Borneo Petroleum Truders predkitu business wall
into the Colonies Noon quotations and the morn- imports
Syndeste continue slow in grain futures
from the United
Kingdom Ing's transactions. On the impor; side, the figures (which supplies more than one- until after the first of the your because
income tax of
con-
an increase except for quarter of the total) were lower pending farm Hongkong and Malaya. In other than in 1053, but there was an BANKS sideration legislation.
Government regions. The
skya the report, the increase
in imports from the ima ind.cated it may dispose general fall in import prices Im- dollar countries,
those while Continental Europo also of large stocks of surplus com- plied an increase in the volume from
larger modities soon' to make room for of imports appreciably
rose appreciably-London Ex- umpounding of 1850 crops.
than is indicated by figures ex-
press Service. propact in valué terms.
and
Wheat closed to % cen higher; soybeaus new up 1% to
CLOSING PRICES
Prices per bushel in cents:
General Foods
General Motors
40
Gen. Pub, Uu.
31
but
Gillette Bately Razor
Gudden Co.....
381
Goodrich D, F.)
Goodyear Tire
0322
Heyden Chemical
Hontake Mining Co.
80
Inland Steel Co
071%
Interchamical Corp:
pat
three-
Int 1 Dusitiers Machines Int'l Harvester
40015
301
1% cents.
811
1134
28T
John-Manville Co. Kansas C. Power & Light Kennecul Copper
003
11612
Wheat, No. 2 red
481
Spot
2130
Mar. 2001) 206(L)
May
114
July
TK
Sept.
2007 20474-** 1949 19114
431
Corn, No. 2, yellow
10634 Spat
4915
pray
12035-76 12:21, Jai
a k
.pt.
Mor.
QxQ
Mar
Juky
soybeans, No. 2, yellow
Spot
239%
2008-13
243
240%
130-140m
$13.com
silou dress.
10
الله به اللي
الامة الله
Olin Mathieson
Ots_Elevator
485.81
| Pretēla Cis & Blog,
163.39
Pacile Western Oli
04.13
Pan American Airways ****
132.24) Paramount Pictures
09:00
May
Parka Davis Co.
163.43 Henny J. C. Co.
102.00
Dept.
Pond, Balt Co.
JON.
400.00
Philips Petroleum
sarity
Procter & Gamble Co.
Pittsburgh Plašo. Glhas
Spot
Prblicker Industries
1141
Pure Oil...
Radio Corporation
* 30%
Republic Steel
BU
20
Reynolds Metal
Shell O Co.
62% Saint Reg. Paper
28 South Porto Bloo Bugat
40%) Souther, National Gea
1026 | Standard Brande
Standard Os of
Standard on or
Sterling Drug Co
Stokely-Van Camo.
*2**|| Btudebaker-Packard Corp.
87% Rwilt & Co.
111 Texas Co.
10 The Water Aram. Ol
756 | Union_Carbide
181 | UA, Lang: En.
Warner: ErDR.
| Westinghouing Xiectelo
Woolwor
new York Hour 200 lb.
Fack
120%
NEW YORK METAL
FUTURES
Now York, Dec. 27,
show
A
breakdown of exports by
destination shows
that exports New York Sugar
to the United Kingdom, which account for over one-quarter of the total, were again of a relatively high level in 1954. Exports to Canada and Australia rose considerably.
A major development WOS the recovery in shipments to Continental Europe. But exports
United to the
States were Blightly lower than in 1959. Including shipments to US dependencies and the Philip-
Strong Demand For Ford Offering
Market
Opening
open
Interest
Volume Ipen interest
20,400 400,000
33,200 037,300
4,000
80,000
0,300
187,300
4,300 139,500
200
60,000
200 14,100
72,600 2,680,700 bales
NEW YORK
Oct
Dec.
Mar
May
Total
Prices of futures closed today
as follows:
Spot
Mar
39.10n 31.83-94
May
July
Oct
Mar
May
33.24 31.71 30.14
29.02-05
29.08
NEW ORLEANS Prices of futures closed today
33.00
33.20-37
868FA8ES
SAO PAULO
20.24
Futures closinga,, in cruzeiros
per kilo, were as follows:
$1,80 cd
'40/-
as follows:
Boot
Consolidated Tin Smelters
Ord.
Mor
30/-
May
SHARES BUYERS BELLERS SALES
Fraser & Neave Ltd. Ord. 81.70 Fraser & Neave Lid. 732
cum, pret,
July
Oct.
80.00
Dec.
Hongkong &
Shangh
Mar.
1 Bank
1750
10
#1 W 1750 1759
Banking Corn.
BROS
May
Sungkong Tin, Lad.
0/-
Kenipas Ltd.
$7.10 xd
INSURANCES
Unton Lombard
133
New Serandah Rubber Co.
March
1500 03
Ltd.
$1.00
·DOCKS, ETC.
Dock
Haffles Hotel
Petang Ties Ltd,
$4.30
May July
Singapore Cold Storage
81.00
JO
31 500 ụự 22.50
SCO 200 y 20.90
South Briksh Insurance Co.
Ltd.
$27.50
Straite Trading
$20,00
Straits Steamchits
$12.00
United Engineers Ord. Wearne Bros,
BP.30
$2.75 xa totalled
ca
"Provident (0) 15.40 18.70
Wheclurk 0 8.45 1000 ↳ 8.40
HK Hotel.
IK Land
Really RUNBER
17.00 17.00 200 * 17,70- 600 17.60 200 02 117
12
..... 1.6 1.03 500G 1,09
New York, Dec. 27. World No. 4 sugar futures LAND, ETC. closed today 1 to 2 points higher with sales of 200 contracts,
Domestic No. Ĝ sugar futuras closer 2 to 3 points higher with sales of 114 contracts.
in, world contracts Firmness resented the rising tendencies in the raw market,
Havana
trado reports said the Cuban Sugar Institute, over the 100,000 tons of weekend, told Tows at 3.20 cants a pound, fob. Thin
was believed to be buying
chort covering against
5 raw sales and partly
on the idea that the world mar- ket will continue tr) move higher.
Unconfirmed trado reports
sold the Institute is asking 8.25 cepts but other reports 8233 boks
the Institute hid
A Rubber .... 1.0735 2.40 UTILITIES
Tram....... 23.10 23.70 Star Perry Yiall Ferry 102
C. Light (0) 27.00
C. LR (N} 10,00
Electic
600
23.00
100 130
100 @ 102
100 101
Telephone .. 33% 33% 2432 INDUSTRIALS
Cement
Dalry
1000
43
180# 42
33
2034 3716 225
19.30
13.30 13.00
500 $3
New York, Dec. 27.
top
Wall Stroot at that level were normal. Other STORKS, ETC.
ndvices
Gald spokesman said today the a large British refiner, a Watson
stock guarantee of up to 100,000 lons COTTONS forthcoming Ford offering may "ring up the of raws at 3.18 conta a pound in
Textile Corp 0.7 6.00 6.5 curtain on mass securities move to obtain for Cuba raw
business in connection with the MISCELLANEOUS purchases by the middle current inquiries for 100,000
Yaukieto income group
toms of rellbod.
Futurerin
T
Mr Shelby Cullom Davis told Contract Ne, 4 (world). city analysts, that the do- March. Fricos of metni falurés, closed | mand for Ford Motor Co., stock | May today in cents per ib, as follows: has been very strong all along || Tub
Bept,
Lead
Tin
Fine
Copper Dea
3
| @pollosila per
Cont The head of the Wall Street | Matchs brokerage firms boaring chia namo 'skid the tretid: "In towned, prester-investiments, with) ema phasis on dyldende and cnbital', drawth.
6.35
10002 0.00
Exchange Rates
Businese waif done in the. Jorat
emarket
8. morning at the Stobowing, ARIFIE
Slacking.noted (per (23)
10.70
Luna Rubber Estates Ltd. $4.08 Malayan Ureweries***
October
28.70
In the United States, the over- age price of 15/16 middling col- designated spot
ton at 14
markets was 33.80 cents. Sales 24,209 bales United
"Press. -China Mail Special.
PHOTOGRAPHS
by our Staff Photographers
R.H.K.D.F.
D.S.O.B.A.
Party. Dinner.
Canadian Club Christmas Dance an Children's Party at Cathedral Hall- Y.W.CA. Members Visit Nursery Carol Singers at Government House Red Cross Party at Laichikok Hospital Hongkong Union Church Party to Poor Children H.K, Women's International Club Christmas Party Opening of Handicraft Work at Melwani Club Christmas Party to: Poor Children at War Memorial Centre Scouts Commissioner Inspects 14th Kowloon Troop Queen Elizabeth School, Trophy Distribution Arrival of Santa Claus at Murray Barrack Red Cross Party at "Kwong Wah Hospital w Bank of Indo-China - Annual Dinner
Special Constabulary. Cocktail Party Newspaper Society Cocktall ♥ Party
Local-Sports
Local Presentations
Local Weddings
SOUTH CHINA MORNING POST, LTD":
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