1955-12-29 — Page 9

THE CHINA MAIL THURSDAY, DECEMBER:

TRADE and

COMMERCE

WORLD UK Cotton Grey Cloth

RUBBER MARKETS

New York, Dec. 28. Rubber futures today closed

70 to 130 points lower with sales

of 328 contracts.

Over

The easier trend reflected the lower primary markets sess and the lack of follow- through commission house buy-

ing:

was

About a third of the business represented in dealer switching operations. Exchange included July-May at 180 and

180 points; Sept.-July 150 points and May-March

points difference.

380

The apat market was dull

London Stocks

MODERATE

Imports

INVESTMENT INDIAN SHIPMENTS

SUPPORT

London, Dec. 28. Moderate Investment support helped most sec- tions show gains in quiet the London

Reported sales included a small | trading

on

tonnage on March threts at 43 Stock Exchange today.

cents a pound. Futures:

Marcit

May

July

Sent

Dec.

SINGAPORE

40.70-00

40.65

a0.10 37 19

30.00

The market was lethargic all day with small interest in lower grades. Futures:

No. 1 rubber per Ib Jon,

Feb

Mar

No. 3 rubber per 16 Jan No. 3

No. 4

"

Spol rubber unbedeć

Blanket erØDE

No. 1 pole crepe

LONDON

20%-129 12714-120 unguiated

123-120 12414-120' F174-1404 1874-1281 90.101 140-141

The market was barely steady with spot quoted at 371⁄2 per ib. Prices:

No. I spot Bettlement house term:

3744-375

Feb

3707

Mar

36%-30%

Apr/June

2016-30

July/Bopt.

Ocl./Dec.

33-3321 31-31

Juti Fre

30-273%

General markets, eit basis, port

Estate crepe thick and thin boll unquated

-Untled Preza

Exchange Rates

Business

unoficial

Spring at the tollower ente

Olis were frm, allhough Royal Dutch eased about 2.

British Fetroleum, Burman, and Canadian Engle all found up

port and managed gains rang-

shilling or more. ing to

Buying was slow to develop after the extended Christmas holidays Then selected Indus- help from American

ohead

trials got intereste and moved

Borax, Elteirical & Musical ir

&

dustries, Rolls-Royce, Imperial Chemirik. and Stewart Lloyds were fentures,

EXPAND:

OTHERS STATIC

London, Dec. 28.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Business done on the Hong- kong Block Exchange this morning amounted to $640,000. Noon quotations and tho mothing's transactions:

SILAIRS BUYERS SELLERS BALES BANKS

HK Bank .. 1700

Union

Lombard Underwriters BIPPING

Waterboat

950

DOCKS, ETC.

..23.30

K. Whart Dock

Although United Kingdom imports of INSURANCES cotton grey cloth in November remained around those of the preceding months, shipments from India expanded again to the best total since August, imports from Japan however dropped to the smallest monthly total of the year.

311700 11040 80–200 vo 80% 9.00

20 303 300 # 501% Provident (0) 15.00 15:05 Wheelock

9.30 85 1000 @ 3.45

LAND, ETC.

HK Hotel .. 17.00 7.50 300 4 17.80 HK Land 1621 100

(R) 51

I

Realty

A. Rubber .. 1.00

TYRI

During the first 11 months of this year | RUDBER imports of this cloth already exceed last were idle, and British Govern- year's total imports with India supplying

nearly half of this total.

Gold ahnres and bose metala

closed

virtually 1121-

ments changed.

Among foreign bonds, Japan- and Les lens found support

Tokyo Electric paced in general a gain of £1. advance with

German issues

qui:1. wcre Greek bonda tacked on gains of several shilings.-United Press.

London Foreign

Exchange

New York

Montreal Anterdum Brussels

Copenhagen

26.00 Others

1.80

WAA done

exchange

the local AS

th! market

Trankfurt

U., dullar (per 315

031

Mian

Sterling notes (per 21)

10.10

Paris

Australian notes iper

L

Indonesian rupiah Iper 1001

17.00 15.00

Blockholm

Slam Ucal per 100)

Singapore (Straits)

Zurich

Press

New

were

London, Dec. 28.

2.80-2.803

2.00-1/10-280-3/10!

30.6244-10.03

139.00-130.65

10.30-10.3341

11.7114-11.7134 1703-1754

Rye Futures Improve

In Chicago

United Kingdom cultum cloth Imports in November totalled 17.2 millon

square yards necording to the latest Board of This compares Trade figures, with 17 million square yards in October and 21.1 million square yards in November 1884.

India sent

yards

s

Blar Ferry 231%

1.0025

1300

Yaumati Ferry 103 104 200

C. Light (0) 33 23.30

C. Light (N) 10.90 17.30 300 46 172 Electro

... 425 42.75 2300 ủe 42,7

Telephone

INDUSTRIAL

Cerment STORES, ETC.

Daky

Watson COTTONS

33 33%

500 42.50 100 or 42.73

1500 3330 50033

37 374 3200 @ J

10.40 10.00 13.30

100 o

500 130

11 million square Textile Corp 180 5.00 14,000

In October and 7.9 million | MISCELLANEOUS square yards in November last

year, Japari only 1.0 million

square yards against 3.8 million ས་-་

and 8.1

million

square yards

square yards and Hongkong â million square yards against 3.3 million square yards

2.9 and yards respec-

Chicago, Dec. 28. Rye futures picked up million

a cent atively. gains of about bushel on the Board of Trade today, but other unchanged.-United grains held steady.

0034-0833%

145-1462

12.24-12249%

York Stocks

Still Irregular

By Elmer Walzer

New York, Dec. 28.

in

irregular

Stocks continued routine pattern today.

an

A few issues moved a point either way but for the most part fractional changes were the rule. Trading was moderately active.

There was litle in the new either to stimulate new markul Interest or to prompt selling of any Importance.

Auto shares,

El Paso National Oa Erie Retiroad Family Finance Corp. General Electric

General Foods General Motor

which dropped den. Pub, Udi

Edupply yesterday on talk of Gillette Safety Razar reduced production schedules Glidden C for 1958, continued easter and Goodrich B. P.) Co.

active.

vih & 9,000

Goodyear Tire

off th th share block of 48%, Hometake Mining Co.

%

General Motors opened Hayden Chemieni

dipped

to $459. Ingersoll-Rand

Inland Steel Co. Chrysler cased to $87.

Int'l Business Machines Stoels were narrow. Bethle-Int Harvester

dipped 4 to $162, US International Niejed Steel edged, up to $575. Int Tel & Tel Republic

to $48k and Johns Manville Co. Youngstown Sheet & Tube Kansas C. Power & Light".

$97%

to $97

International Paper

Kennecutt Copper Lockheed Aircraft

In oils, Texne Co. added Loews Incorp. point to $118%. Standard of

California to $90, Sinclair

On % to $6736,

Lone Star Cement Co.

Lowenstein & Sona.

Mesabi Iren Corp. Minnesota Mining Mission Development

Dow-Jones closing averages Monsanto Chemical Co.

were;

30 Industriain

20 Talis

15 utilities

65 stock

40 bonda

Comm. future price index

Moody's index

Closing Prices

Alden Inc. Acy. Allied Chemicala "Alled Mills inc.

Allis Chalmers

American Atrikna

American Cyanamide Co.

Am Mech_&_ 7' dry

American Metal

American Smelting

American Tol &

American Tob.

Anaconda-Copper

Arco Steel

Armour

Baldwin Amaian,

Baltimore & Ohlo

Bendix Aviation Corp.

Montgomery Ward

484.22 Motorola inc.

11.00 National Chgh Reg.

64.30 National Dairy Prod, 171.85 Nallonal Distillers

98.00 National Steel Corp. 12.63 New York Centra! 600.2001 Mathieson

Olis Elevator Owen-Ilincia, Giens Pacific Go & Elec. Pacific Western. Ģil Pan American Airways Paramolint Pictures

$234 1152

34. Parke Davis Co.

Derlings

tr

wheat

square

First 11 Months

Cloth imports for the first 11 were months of 1954 reached 268.5 square yards against million 206.7 million square yards in the same period last year and only 531 millon square yards In

1953. has excceding lost year's 12 months total of 236.4 million square yards,

mixed, with Some buying at tracted on prospects of export sales in the near futures and on reports that southwest winter wheat areas need moisture, but rallies met profit-taking.

Pending export business in Royber ins and edible

teiped

India's contribution to the 11 total was 124.6 million months oils benn Cutures

square yards compared with carlier

115.3 million square yards a today,

but the announcement

ago and only 11 million that the Government has

two years ago. released a large amount of pea nuts for oll had a depressing effect on the soybean market.

Exporter, reported the sale of two-milion bushels of US grain Forghums to the Continent Bald Portugal is overnight and

scheduled to buy a cargo of US wheat tomorrow,

Wheat closed off Ya to cents; soyboxos old up cent; soybeans new off % to up cent,

Prices per bushel in cents:

CLOSING PRICES

Wheat, No. 2, red

spot

2120

Mar 2003 (11) 205 (1) 20835-21

May

July

194%

Sept.

100

Corn, No. 2, yeHow

Spot

Max.

May

July

120 100% 1214-41 1345

112 Sept.

Ryo

Mar.

392

Mar

1304.

Osta

Mar.

19

May

27 Boybeans, No. 2, yellow

494 Spot

23794%

Jan.

Mar

May

July

Sept.

Barley,

Sput

New York four

100

200 lb. mak

WINNIPEG PRICES

дель

Japan

ment Yangito Allied

0.00

1.03

300 19

3.45 1.85 3000 NA 015

Singapore

SECTION

Germany Objects US Economy Should

To US Rubber Split System

The

Frankfurt, Dec. 28.

West German rubber industry regarda Introduced ile reconlly

system of spilt prices for synthetic rubber in the United States, de a discri- mination

Resinst foreign buyers of United States rubber, industrial sonroes mid.

Prominent

represonia- Wives ok the Indertry pointed out si A recent meeting that the system of different domes- ile and export prices for United States Synthetic

rubber was not in stor dance with

general prin- ciples of United Alates trade polley.

They feared that birder export

prices might seriously affect cost and price relations of the in- dustry which to the grOW- ing extent depended on Imported synthetic rubber.

Of the total of about 16.000 toma

of synthetic rubber imported by West Germany in the Arst 10 months of this year, more than 10,000 tons came from the United States--China Mall Special.

WORLD

COTTON MARKETS

New York, Dec. 28. Cotton futures trading to- day continued to be a tame holiday affair.

On small operations between trude accounts, prices sawed

over a harrow range keeping close to the previous

Stock Market levels most of the thine,

Singapore, Doc. 29, Brokers today. quotedt following stock prices; Batu Lintang

Rubber Co. 140. British Borneo

Petroleum Byndicate... Consolidated Tin

Smelters Ord." Fraser & Neave Ltd Ord. Fraser & Neave

71 cun. prof...

Hengkong & Shanghai

Banking Corp. Hongkong Tin Ltd,

Kempas txt,

square mulied 01.4 million | New Berandah

square

million

the

Rise To New

Heights In 1956

Commerce

By Robert F. Morison

Washington, Dec. 28. Secretary Mr Sinclair Weeks predicted today the soaring American economy will rise to new heights during the first half of 1956, paced by the steel, auto and construction industries.

He also foresaw a "little" upturn in the farm economy, a "good chance" of a balanced budget and

по "crash" potentialities in the current stock market situation.

Mr Weeks ducked any pre-thinks there is a "good chance diction of a tax cut in 1950, but of balancing the budget this sald rit cants the

year." This presumably referred phasis" should be "on relief to to the current fiscal year ending the consumer."

next June 30.

on

The Commerce Secretary made his rosy forecast of even bigger boom in 1958 in next year, he madio interview.

Ho backed it up by releasing comprehensive survey of major industries showing that nearly all segments expect to continue at or above high level at least through next June. Highlights of the survey showed:

current

sny

While declining to directly if he favours a tax cut

saici 11

Wna "ahmost

axiomatic" that the off the people will be because lower the tax bill "the batter

then their efforts are towards creating wealth."

He said that out of the 1954 fax cut, about 08 per cent went to consumers and the rest to industry. In any new cut, he urided. "I would personally

to the

con-

AUTOS: Outpul expected to bit 4,250,000, a boost from the rather ese the emphasis placed 4,227,000 produced in the fratn the rellef half of 1956. Truck production,

|sumers." which saw its best year in his

Discussing the booming stock bory

in 1955, slated to show market, Mr Weeks sald he saw 'Aizobic Increase" in theno comparison with the mar January-June period. The aur. kat situation in 1929 "insofar vey did not Indieste whether it

as potentiality of a crash is con- Into

the Ford comed." account look

statement

He said the market today has "built-in safeguards" such big permanent investments stocks by Insurance firms and pension funds and a high 70 per cent margin requirement, United Press.

Motor Company's Last week that its 1850 pro duction schedules had been reduced.

Realising at the close brought Irregularity with the list finish- CONSTRUCTION: Estimated ing 6 points lower to 11 points 1956 spending on all new con- bigher. Opening prices were up struction at 44,000,000,000 Opening

1 to 11 points. New Orleans Collars,

a five per cent boost closed unchanged. $1.00 cd

from 1939, record. This despite

46/-

*/.

$1.70

$4.00

KB00 0/-

six

Lunas Rubber Estates Ltd. Malayan Breweries

$4.06

$3.38

Rubber Co. Ltd.

$1,00

Petaling Tin Ltd. Rallies Hotel

$4.30

$2.35

South British

du Singapore Cold Storage

$1.00

Insurance Co. Lid.

#37.50

Straits Trading

Strails Steamship

$12.60

Unlied Enginbers Ord.

39.80

Wear Bros.

$1.80

China Mall Special.

yards against 41.8

square

yards million and 38 y car yards in 1053, yur

(Pst square and Hongkong exported 44.5 million

*quare yards against 16 million square

only yards in 1954 And

Ava million square yards in 1868 China Mail Special.

WORLD MERCHANT FLEETS

Norway, Germany

And Holland Step Up Size

London, Dec. 28. Norway, Germany and Holland led all other European nations in stepping up the size of their merchant fleets during the past year, Lloyd's register of shipping showed today.

But the world's biggest merchant fleet was still that of the United States, which topped even the combined total of all British Commonwealth nations.

as in

In addition to the holiday an anticipated drop of 100,000 New York Sugar

feeling, traders were cautious in new home construction. about entering new commit-

Market

ments pending developments on IRON AND STEEL: Current farm legislation and commence record-breaking production ex- ment of the Government's cot-pected to continue through next

New York, Doc. 28. ton surplus sales programme June, making the first half of

World No. 4 sugar futures to- 1056 one of the highest "If not day closed unchanged to 1 point after the New Year.

higher with sales of

88 con- tracta

Domestic No. 8 sugar futures closed unchanged to 1 point

of 41 lower with sales tracts.

were

the may

health

In

the

radio

was

World futures

steady with trade house on both sides

of the market.

World .rawa....hold steady. Dealers understood further bids like the way construction "very closely and had been submitted to the I read" Its Cuban sugar institute for ad- prospective increase in 1950.

On January 3, the Corn- the highest" in history,

Credit Corporation is modity

Mr Weeks, sheduled to accept, or reject, interview, said the auto indus-

1035 bida for the sale of around atry's big output in million bales of shorter staples veryonential' to bolstering from the Government stock.

economy. He called the in- Some traders were

น doubtful dustry "great barometer about

amount

with of cotton economic

along which

heavy

ond bo sold niliy other

Industries Overseas until They can learn construction.

He said he personally watches more about what level of bids will be acceptable to the ag

Raw cotton exported for the season

thus for approximates 670,000 bales against 1,540,000 to the same time bales shipped to last year. Some quarters were hopeful of increased shipments

the When

Government saics

Mr Weeks programme gets into operation. farmera

sold that whilej sales of around 100,000 tons to "have shared to the various operators and dealers The cortificaled stock held

degree that people generally said prices on the institute sales unchanged at 17,083 bales.

have" In the current business range from 3.18 to 3.26 centa a open interést

boom, "I think the turn is go- pound, fob futures. Futures:

a little, rather

Contract No. 4 (world) than the other way...

He did not

claborate. The March Agricullum Department's latest day economic analysis forecast

Volume

were

and

Up A Little

Volume Open Interesting to be up

Month

March

May

14,100 404,900 17,100 138,800

July

0000248.500

·

Oct.

4,100 188,400

INKO

$3000 .141.200

Mar.

May

Total

900 81,500

200 14,300

45,100 1,587,700 balea NEW YORK.

Prices of futures closed today as follows:

pot

May July Oof

Doc. Mar.

38.03n

odst

33.224.

11.81

30.08

20.91

BENSHIRE.

May

130-140

$13.40m

NEW ORLEANS Prices of futures closed today

4344

Prices of grain futures closed today in cents per bushet as 31 follows: 40% Onta

Britain, Norway, Liberia and tanker feet WOB the world's Panama had the four next | Nith largest,

July largestowed a modérate highest totals, In that order, according to figures compiled Increase in its total merchant last July,

shipping during the year,

as follows:

Spot Mari May'

33.60

Doc.

Mar. May

Penny J. C. Co.

073%

10% Procter & Gamblo Co.

Dea.

•May 46°

July $1%8 100

Dec.

Statistics

100$

May

1081-100

70 Pure Oll

July

1073

70

48 Barley

Déc.

NEK

171

SIGA MX 0439 July

804

90

574000.

Penn. Salt Co

Phillp. Morris

2015 | Philips. Petroleum

Piltaburgh Plate Glam

100% Publicker Industrien.

Radio Corporation

Repubila taul

Reynolds Metal

14 shell Oil Co.

4014

Baint Bag, Paper

Bocony Vacuum

South Ports Fico Bugar

Banquet Cons

Bath Sinclair Oil

Bethlehem Stoel

18135

Boeing Airplane

73

Bouthern National Cãe

Borden (The) Co.

Burrought Add Machine

Canadian Pacific IL

CVXI. "Tinancial Corp.

Cut. Tractor

Celanese Corp

Colgates

Commercial

nental

Bouthern Baliwne (Chen, Mitanda Brande

Biandard

DeeJane

Msc./Apr.

May/June

July/Min.

May/June

Oct/Nov.

ditional supplies nt 3.25 a pound.

However,

the institute o

portedly did not take action on the bids following its recent

July

somewhat lower incomo for Sout farmers in 1058 compared with

when their prices May

this

year,

and income were falling.

Spot-(centa_per in. fob Cuba)

Contract No. 4

Mar.

July

Mr Weeks did not go deeply Sept.

Into the subject of the budget Spot-(cents per lb. ch NY

ex-duty ог taxes, except to 'gay ho

United Pres

300 2015035 May July

34715-35 101 Wheat, No. 9, northern, cente: No.-6.-123 cents.

United Press.

Liberia's merchant. Beet, entirely a postwar develop- ment, is based largely on the Onagris

Nichros tanker fleets. · During the plast year, increase Liberia showed on almost as large, as the total merchant fleet of Denmark.

Combined Fleets

Statistics on total feats of leading maritime nátloris:

United

Blates 28,423,000 |

Britian down 921,000 19.887,000 up 842,000; Norway- 7,249,000 up 444,000; Iberia 8,997,300, up 1,016,000: Fanania, down 188,000, France

82,000: Italy

'The world's combined. mer- chant fleets totalled 100,589,000 3,785,000 up tons, an increase of 3,147,000 Lunds 3,696,000

Sweder 2,801,000

· fons "over... thế.../pretious year.

Tanker fleeta umounted-

ark-- 1,652,000

New York Foreign 26,45000 tons, or 20 per cent

Exchange

of the world's total. The Increase in tanker deste dux the des

went to Liberia

Nether 253.000 up 100,000 up: 88,000

LIVERPOOL Future los pence per Ib, were as follows! Did contract

New contract.

Egyptian Karnak Jangebr BAO RADI

Future closinge. In cruzeiros par kilo were dis follows; \

March

Oct,

In the US the average peleé of 15/16 middling cotton at 14 woot markets today 33-77 canté par b

KARACHI 'market wa

Bales

Let US handle

YOUR PRINTING

Too many proofs mean time wasted. We grasp the point at the onset and ONE PROOF generally sufficos.

After that, our up-to-date automatic

pressos make short work of the job.

Let

quote for your

current

req

ents.

SOUTH CHINA MORNING POST PRINTING DEPT.

36.70