1956-01-05 — Page 9

Page

THE CHINA, MAIL, THURSDAY, JANUARY 5, 1956.

TRADE and

COMMERCE

1955 Canadian Economy Was

Bright

BUT THERE IS NOW FEAR OF INFLATION

By Nornian Macleod

Ottawa, Jan. 4.

Top federal economists believe 1955

contrast

has witnessed a greater

of

HONGKONG New York Stocks

STOCK EXCHANGE

From Our Correspondent) thisinere done on the Bong- morning amounted to $700,000 Nal suolakon4 morning's transelions:

kon Sluck Exchange thia

And the

SHARES DUYERS SELLERB SALES

BANKS

FX $3

INSURANCES

1000

15/1

1700 31778

30 1300

Lambad

bi

Underwriters

14 40

2XX)

Waterboat

23:30

BRIPPING

spectacular achievement mixed with fresh problems than any other year in Canadian POCKS E economic history.

LA

3144

Lose Ground

New York, Jan. 4.

Stocks continued to lose ground today with individual declines ranging to more than 2 points and the list generally off a few cents on average:

The trading pace lightened on the |move-to 2,290,000 shares from 2,390,000

yesterday.

Standard &

Poors calculated | Intl Harvester its index of 60 industrial stocks International Nickel

International Foper nft 24 cents, 20 rails off 47 cents Inti Tel & Tel..... to and 20 utilities up 4 cents with John-Manville Co

the 90-stock compilation down 20 cents on the day

2200 31 73

100032

K Wher Dock

Pinvident 101 13 da 13 6 1000 15.00 Wheelock

11 30 40 30.

0.30

LAND, ETC

Kutel

If it

UK

At its start the year was not expected to turn in any remarkable records. simply reversed the downturn that had marked 1954. authorities were prepared

to be satisfied,

But that Cheng 1985 kes Bols d

'teetered

2mply

peter vang 1951-

נייי 41

new all torka zeven d with a da mabe sind på din broni running the

000,000 annually

15 12 per

1904 and 3

prevrug becord od 1953

Other Features

וין

32161

Other teatime, ad Tha bove regiali ed

A

Find by

T-

pressive guns

Building

gained 43 a

repelt a

11%

now pear of part ander

Huufion that + favourable to

flation Feder

וי פינוי

Really

ROBBER

A Hubber

ATTILITIE

$40

Steel shares were among the hardest hit of the lending groups with Bethlehem aft more than 3 points, Youngstown Sheet went 1724 17 60 1000 17,40 | down 2 points.

はしょ

Yaumat Ferry 103 ぐ Light 10+ 22 19

72 63

Continental Out fell 2% pouits, 19, 2000 1.07% Gulf Neaggy 2 and Jersey Stap- 120 10,000 1,05 dart a point in the otts while 5001925 Texas Co. emtimed strong ising

a polot

Keneral agronst trend 300

Telephone 3333

41 10.30

the

Duded 810 cha, 334

|

Kansas C. Power & Light

Kennecott Copper

Liggett Meyer Tou. Co Lockheed Aircraft

Lone Star Cement Co. Lisville & Nashville R Masati Corp. Minion Development Minnesota Ming

Monsanto Chemical th Montgomery Ward Meloruin Inc. National Cash Neg National Dairy Prod National Distlikern National Lead National Bay Comp New York Central Om Mathieson Owen-Illinois Glam Paolfe Weale 1 1 Anertean AirwayYS Paramount Pictures Parke Davis Co Pen Bali Co

Exchange | Philip Morris

242022

2011

24 20

24.40

100

21 2000

22 00

1000 23

-

C Light (N; 10 00 Electri

Of Jota were juwer

1.183

[1

the

421 421

1006 u 4214 | higher

veria

70033.44

200 330,

New York

Stock

bond volume

J 374

tkk

30

500

1

America

was $4,538,000 Stork

volume was

Duw-Jan

710,000 shoes

cling

averages

Dairy Watson

T 131330 1500

30

10 30

were:

1310

copTONS

Textile Corp Nanyang MISCELLANEOUS

Allied

24 tundusiramen

571

201 1.80 1.00 300

20 rail-

Repe STORES, FRA

Vron mais fear

1 148 Nation especwils ujeli Canada's Kaeigu Trade

Promperty duong 1955

INDUSTRIAIS MIS

L'ement beni layed on the activity of the con fructam and emp

iNK 1- the

the salutal T- foreign markets for raw materinis, base ins lal reveally but als In- radig is hy mautuetured prets as newspamt

neweloperat

**

All these faventables fuctors ་་ཇཱ་ vra ported

federal

In

Kakak well mla 1966,

they wil continue But the outlook for ding the year is

OU A 70

New York Sugar Market

$2,000,000,0 the untered with me uptimists even pre- exploration, together with power, dieting that development and generat ex to 1957 pansion of natural resourers, argjögriculture going forward an su unprecedent=¦ guised as me to uptimiste.

And the danger of an infat closed today ed pace.

S., much to this fight side,ary price trend is regarded

ather Jusuhnation for a note at over-contracts Unfortunate Is then re

all caution United Press.

1 palatable seulition.

Outstanding among them The problems 1 Biding market » for the huge hold-over of gian, and the danger of a delayed in- Ralion overtaking. INIANS making the nation's exqaris no kongee competitive

Grain Surplus

at

The grain suples problem ta} The biggest bred.clie to

federal govenment A louateful | 1955 he has bumper

added tsvil 1954 and

וי!

1953 | stB unsold The situation exists

of the both sides

on

Inter

national Borden and Waslongt

is meeting it may by RIVE-

WIDESPREAD

GAINS IN LONDON

Stocks

New York, Jan. 4. Weld No. 4 sugar futures unchanged to 2 points higher with sales of 23

Domestic No. 6 sugar closed

1 point higher to 1 point lower with sales of 134 contencia,

in world rows, a British re- her was the accredited buyer of a cargo of Cubans, bulk baris at 3.24 cents a poudi, April-May shipment.

Dealing in the domestic con- tructs were agalsi raw market transaction.

Local cane reßnera and operators reportedly bought

47.000 tons of raws around

position spul

al unchanged Futures: prices.

Contract No. 4 world) | Match London, Jan. 4.

May on the London Jus

Exchange closed with Sept.

away and l-at-ps-prive-and-widespread fractional vn-any-term politics This gains today United States dumping has con- tributed seriously to the weak-

dem calut

ness

ani

normal Canalton exp

kuls.

At the moment prairie growers inventory are carrying a wheat

ex-duty

Late business news caused |Spot-teents ner th industials to rally with steels, fextiles, tobaccos and shipping saurs, mat fret.

15 utif

Philips Petroleum Pluhures Plate Class

Exchange Publicker Industries

Pure Of

Republic Steel

Reynokia Metal

Shell Oil Co

Saini Reg. Paper

Socery Vacuum

j0

544

13

171

301

40 x

SECTION

Texaco Co

Granted

Libyan Rights

New York, Jon. 4. Texaco Overseas Petro- leum Co. was granted on December 31 a one-half undivided interest in exclusive prizoleum con- cessitats covering approxi- mately 14,200,000 acres in the

Cyrenaica

and

provinces of Libya, the parent Texas

Co. announced today.

Goological and reophysical work has been conducted In the general area during the past two years, the sanguncement said, and further activé exploration PTOSTRILLING is planned to oover the specific areas of Meno concessions—Unfied Press

WORLD

COTTON

MARKETS

Page

TWA Revenue Jump

Seen If Route

Extended East

Washington, Jan. 4.

TWA, which has been able to maintain both its domestic and overseas routes without government subsidy, said last week it could foresee additional

revenue of more than $4 million a year with the approval of its application to serve Bangkok and Manila.

The forecast was contained ju

n series of exhibits submitted to the Civil Aeronautics Board in support of TWA's bid to extend Its International roule beyond Bombay Colombo.

and

proposal contemplate SCTVÍCU by connection with Northwest Air- fines in the Philippines, and also

one-carrier service. Bffers new from Bangkok and Muntha to as many ሓ። 13 major vities throughout Europes and

East now

Middle

the

served by TWA-TOUR them. Mindrid,

Geneva, Zurich

our ("oru.

Milan, Athens

Large Part

New York, Jan. 4. Cotton futures trading today was active with gains ranging up to $1.50 a bade,

The TWA exhibit deat reflecting traders' cautious-

large part with the superiority rss in face of short cover-of Manila as u terminal, and the ing while dealers awaited need for bridging an sertai gap Washington developments ¦ in an area of constantly growing economie, military and political coin farm legislation.

importance

'round

bul also

Chicago Grains Gain After

Low Start

Chicago, Jan. 4. After slightly lower start, most grains gained Board of

Armness on the

Trade today.

Profit-taking hit the markets early in Ric cines did

but de.

not carry far because hedge-selling was limited.

Dealers reported some buying 10 wheat as a result of forecasts for conthuned dry weather over The winter wheat

helt during

;iaue"གྲྭ whales extreme

PAA, the lone airline uttering the next 36 hours gains at the close hut the st

Soybeans totterti because of -the-world service, still finished unchanged 10 30

sizable meny that captures nei truy

country offerings of points higher. The markel open-

market

attacts surplus beans have increased el off to up 4 points. Now

following recent price xtvances substantial business from the Orleans do-ed up

10 L 33)

other Carriers, thr

the announcement exhibit and

that a showed

large

Mid-Westem

process-1 Bearing it predictions made will cariall crushing operations new form wili putine

by TWA in 1968 as to the grow-by per cent. programmes to Congressmen on ing volume of round-the-world Exporters solch

228,000 Monday, and reported Adminis-business, TWA reported that the

bushels traiion plan:

alleviate

50%

63

434%

04

South Porto Rico Sugar

03 37

Southern National Oos

041

03 Stck

70 74

Southern Railway Com. !

109

pointy

49 bols

Standard Brauda

39%%

DB 23

Cannu future pries

Standard Oll of Cal

DOS

Standard Oll of Ind

B01

Inder

News the President Eisen- husver

Moody's indax

Standard Ou of NJ

452

404 00

Sterling Drust Co

501.

Closing Prices

Stokely-Van Camp.

20

Studebaker-Packatts Curp

10

Swift Co

4714

Alden Inc. Aer.

Texas Co.

12444

Allied Chetnicala

$261

Allied Mills Ine

113

Tide Water Aqu

33%

34

Twenty Century Fox Fi

244%

Allis Chuirner

01

Union Pacific Railway

1704

United Aircraft

American Airline

23

034.

U.8. Gypti‡ty_

300

Also

25

US Line Co

11

1.5. Rubbe

$24

40

US strel

48

45

#7%

Uniter Prear.

CTOS.

Some technicians the market was

American Cyanamide Co. Am. Mach. & F diy American Metal American Betting Am. Sugnt Ret Anaconda Cooper Armco Sieat..... Anneo

Baldwin-Lima-fnun. Bendix Aviation Cor Denguet Cons. Bethlehem Steel Boeing Airplane Borden The Co Burroughs Add Machine Canadian Pacific H...

C. L↑ Financial Corp Cat Tractor

Celanese Corp. Chase Manat Bank

Chile Copper

Chrysler, Motors

3.2 Commonwealth Elec

Exchange Rates.

General Motors

West Va Pulp & Paper

Woolworth

WORLD

RUBBER MARKETS

York, Jin, 4.

today closed higher with

New Rubber futures

to 75 points sales of 200 contructs."

20

templ the

hus

of US grain sorghum

the number of ·passengers nying one offered 100,000 bushels farm plan hiclude payments round-the-world

to

US already vi

soybeuna le Norway of cotton growers

and other risen

to 12,500

year-an with purchases scheduled for buste crop to voluntarily

cut

increase of 400

Over the moderate amount of UK their already reduced acreage. previous year.

soybeans.

Wheat closed off ty to up 12. soybeans new

a long range "soll bank" The Impressive figures were plan which would pay tarmers' based on current information 350 million in the first year to made available to the CAB by switch acreage from cotton, domestic and US airlines wacal, ryc and comm to forage operating overseas.

thought "ready for a small orders readily influenced

rally" und that

either way

the trend.

Cautious

"The fact that trans-Atlantic travers p.seceding to points in the Middle and Near East And they can return to the United States via the Orient and the Pacine for small additional cost Is accounting greater amount of round-the- world trave, TWA submitted,

for

CLA

CVM

eenis

up to 14

CLOSING PRICES Prices per bushel to cents Whitat. No. 2, red

Mar 31

ગ

iLL

21612 212

May

July

210-4 100-

Sept.

201

Corn, No. 2. yellow

Apot

120'

Mar

Mas

130:-2 13

July

Sen

130%

Rye

Tourist Centre

Mar

As

held

TWA ruferred to Bangkok us the leading tourist centre Southeast Asia, and a grategic sector of mounting peliteal and economic Importance.

Oats

in

Mar

Slay

Barley

Spot

New York flour

traders

marked time pending a cleaner view of the

proposed farm legislation plus news on outcome of the blds submitted yesterday under the Government's millon- bate

Surplus disposal and the weekly

cotton

· programme,

Joan figures.

The cetilcized stock unchanged at 17,784 bales,

open interest

40,200

123!

12414-125

004-2

157,

130-140m

$13 10

. 242m

200 it suck Phillp-

Soybeans, No. 2, yellow

With respect lg the pines, the TWA exhibit showed that US trade with Manila in 1954 amounted to $505 million, and was surpassed only by US trade wil

with

Great

and Britain Germany. Further illustrating

the extent of Cconomie interest,

the exhibit disclosed that 171 American firms located in the Philippines.

toxlay

*pu1

Jan Mar

MAY

دانول

Scul

2414

2444-245

248-24532

24312 23312

WINNIPEG PRICES

Winnipeg, Jan. 4.

3226

Colgate-Palmolive Cu. Commercial Credit

52zb

Continental Oil of Del

3.23b

certain start.

Spot-cents

March after an un-May Jirly Bet Nov

Corn Products

Ib. fats Cuba) Contract No. à

323

Crane Co.......

Grown Zeilerbach,

5.32

Cuban Amer. Sugar

Voluine and

0.39 Chutia Wright

22814

The higher

3,40

Diamond Alkal

4035

B40

Dow Chemdeals ...

primary

6.03

uf

Dupont de Nemours

dealer covering

407 routma put prices on

were; Month

Valuine

Open interest

Mar.

12,100

302,400

May

17.600

14,900

Eastman Kodak

thar-

4.33

El Paso National Oas

ገነ

on upgrade. Included in the July

f1.400

235,500

United Press.

Eric Haitrond...

22

turnover were 50 lots of March

Dol.

3.300

183,000

Dec.

3.700

140.000

Family Finance Corp

24-

exchanges for physleal rubber.

Mar

1000

$1,000

General Electric

45%

May

17,900

General Foods

94

Shipment offerings were

Toini

1,503,400 baies

reported

Gillette Safety Razor Glidden Do.

in fair quantity, but held mostly above workable basis. Factory Interest Con-

Prices of futures, closed today tinued от те sub-routine pace, as follows:

NEW YORK

Spoi No 1 'Rss

at

were quoted 44

New York Foreign| July

Oct

cents a

Sput

33.60

Mär.

May

33.85 43.30-13

Byr May

July

July

3183

Oct.

41.13 Oct.

30,38

Barley

3153 | Dee

30.18

England official

$2.80-10/32 May

33,10 Mar.

36.70 May

29.94 20.76

4

B0-day futures..

2.9-11/32 Oct.

Austraila

2.24-7/16 Vlaxseed

New Zealand

2.7036

May

South Africa

2.001,

July

0356

Oct.

Others were unchanged.

-United Preas.

on their arms of almost $3,000,- 000,000 which they are unable to convert into cash. Their in- ablilty to do so is affecting their purchasing power and threatens to make the western provinces a 1

nation"> soft

the economy during the year ahead.

So far the Governinent's only authorise proposal has been to the chartered banks to

syut

loans 10

upon

Dollar stocks dropped at the opening in adjustment to over- night Wall

level, bul Street most Issues Armed in later dealings and closed steady.

British Government were quicily Arm.

Jap Bonds Up

bonds

nake farmers

Overseas tho

buying pushed bands of wheat

heir Japanese and Brazilian

Otherwise, the foreign slun. The farmers

have higher.

division was shown le enthusiasm for this s

neglected idea, but they have failed 16 and unchanged. outline any practical alternative course.

The Danger

the

A revival of overseas interest

featured it gold shares mining group. Buying was con- centrated chiefly in Orange Free

If international food markets State development issues,

are gluted during 1956, domestic

farm prices certainly will drop. pers.

That danger is one of the most dullness, while zine, and lead

threatening

shadows of the coming year. horizon

The danger of a delayed in- Press.

Support dried up for the cop- Olls firmed after early

to the

general the issues reacted оп

strength in metuls-United

Ration overtaking the nation's domestle price structure is no less real. For never before have such Epending resources of saving,

crodit

the

current Income, and

been at

at the disposal of Canadian

}

Singapore

people. Here, Stock Market

Singapore, Jan...

Patienty, is

is the picture Personal savings are almost $800,000,000 higher than a ago; labour income is running Brokers today quoted the

year

approximately eight per cent following stock pricest

ahead of 1954; instalment credit | Bilu Lintang

Ltd.

easier than ever before, de British Borneo Petroleum apite mild movis by the Danic Byndicate

Canada lo pleet some celling) Consolidated

Ord.

Don

St.

Against this formidable array

40/34.

Rubber. Co 13 xd

Tin Smelter

Fraser & Neave

$1.77

raser & Nerve

90.00

of buying power, the consumer prof.

Hongkong goods ploture stands in contrast. Banking Carp.... Not only has it folled to expand | Hongkong Tin Ltd. proportionately to the increase Kempas Ltd.....

Luas Rubber Estates"

In buying power it actually Malayan Breweries smaller by a Wila more than New Berandah Rubber

one per cent..

Will Last

So the stuation

exists of

Petaling Tin Ltd.

Haffles. Hotel Singapore. Cold, Blon

Buyth

Co. Ltd.

greatly enhanced purchasing Bimits Tradi power, bidding for sonów bat

United: 2 does Bóck of commumer Weam Bros, And that's exactly the

Gen. Pub. Útil.

Goodrich, (B. F.) Co.

Goodyear Tire

Hayden Chemical 18.35 Homstake Mining Co. 12.16 Ingersoll-Rand

Business was done in the local unofficial exchange market this Indring at the following rates:

V6. dollar (per $11

$83 Sterling notes (per 41) Australian notes (per Indonesian rupiah (per 100) Siam teal (per 100) Singapore (Oleätze)

15.35 Inland Steel Co. 2330 Interchemical Corp.

1.50 Int'l Business Machines

BIG OIL QUEST

UNDER THE SEA

London, Jan. 4.

5616 nominially

pound. Futures:

MAY.

July September December

LONDON

NEW. ORLEANS

The market was very steady Prices of futures closed today Portugal with spot quoted at 30%1⁄2 penco as follows. per ib. Prices:

No. 1 Rab spot ........ 30-369%

Settlement house term:

February

March

April/June

September

Det/Dec,

Spot

3014-3014 Oct

May July

May

3314-33- 327-33 **General marketa,, eit basis, ports: January

2012-50%

February

Estate crepe unquoted.

AMSTERDAM

market wRe

38-3876

stoady.

LIVERPOOL

33.00n

33.00

32.20-27

30.37-39 30.15-10.

20.70

Future closings, in pence per

1b. were as follows:

A record venture to seek pil 63 miles out to sca begins this month in the Gulf of Mexico, southeast of the Texan sepport of Galveston,

The porchole, more than 201

Tho The platforms are thon sup- miles farther from shore thon ported 80 ft above water level by Prices closed today in gullders New contract, Li any hitherto, will be drilled massive steel piles, each 200 it per kilogram, cit Jan. 7 through 93 It of water. Its in length. The piles pass' right follows: ultimate depth is likely to be through the interior of the hull No. I rupber about 12,000 2,

and can be sunk to a depth of No. a subuer To sink this new hole, the of 100 feet in the actual sen bed No. 3 rubber pompany concerned has char-by tered the

moblie drilling platform liurich- ed in America last year.

Old contract Mar/Apr. 24.05 May/June 23.00 July/Au 22.00-23.10

77.000 July/Aug. 24.15 Out/Nov. ·24.33 Dec./Jan 23.85 350 buyers | Egyptian Kernek Jin/Fib. 39.20

SAO PAULO

Futures closings, in oruzeirva fabulous£1,200,000 177% hormously powerful, hydrau- No. 1 crepe

The Singapore rubber prices per kilo were as follows: The whole "craft has been were unavailable. designed to withstand hurricanes blowing at anything up to 125 miles an hour

The derrick itself is 140 ft. tail; it is powered by four.

Planned 1948

Mer. United Press!

May July

det,

This huge "erartconsisting, difesel engines cheveloping bo London Foreign

in fact, or twin platforms with total "deck area of 200 by 80 fedt,, mounted on a steel hull displacing 2,000 tons of water, was planned us far back as 1948. 15.40 This was whom the oll spen were |

first preparing to carry out their operationa

raska many miles out: In The open on

$1.00

The apurture

Boundly as any

But when a dri Toschock- thoë stroë -mérged by Babodiner

baklast tanta.

tween them a total of 3,000 hp there is plenty of strength to da the job.

Minor Modifications

The unit has been success, fully tested in drilling a bore, Abatas | hola under 65 feet of water,

ship, with a few

for the Cheve

Well'

Exchange

8888

REHSA

In the United States,' the avorage price of 15/10 middling cotton at 14. designated spot | züarkets was' $8.77 cònts. *Sales

totalled 21,000 bales.

KARACHI

The market Quotuated both ways today,, Pripes closed. In get malind gy follows: ko

Prices of grain futures closed

cents taday in

per bushel og follow":

Даля May

Exchange

New York, Jan. 4.

30-day futures 2.00-3/32 Fully

114

1017

Wheat, No. 3, northern, 18ijā cent No. 3, 133 cents.-United Prom.

Let US handle

YOUR PRINTING

Too many proofs mean timo wasted.

We grasp the point at the onset and

ONE PROOF generally suffices. After that, our upstosdate automatic presses make short work of the job. Let as

quote for

requirements,

current

SOUTH CHINA MORNING POST

PRINTING DEPT.

For printing of every description Telephoner 20002