Page
THE CHINA MAIL,
WEDNESDAY, JANUARY ∙11, 1956.
TRADE and COMMERCE SECTION
GERMANS TOLD TO FACE HONGKONG New York Prices
REALITIES Chicago Grain EXCHANGE
NY COTTON FUTURES EXTEND GAINS
New York, Jan. 10. Cotton futures extended their
gains
recont
moderate dealings today, with the July contract paving the way.
Inflationary Wage Claims
Will Be Neutralised
in
By
There
At the these Hof, Fuld e to 18
higher. wifiไร
market
μαρτία
The
To 12 Cha
Three opened
New buchet
The Central Bank
are
London, Jan. 10.
comprehensible reasons for the terrific disparity between Germany's equity yields of about 4 per cent closed 10 to 34 points higher (they were only about 2% to 3 per cent at the autumn peak of equity prices) and her bond yields of 5 or 6 per cent plus valuable tax privileges, equalling up to 10 per cent gross.
The pending thin promine
4 101 bur
In early den.ing
moved higher
calvery ru
bale. Offerings
Thine Covering
and
more
Jury
The $1
Unough! Habi Leuking. New Orleans!
and to takin
However, KAS CLOC
encountere
Bibs
win is hoon and bakit away as much
But less than in any other country can it be justified by expectations of continuous erosion in the real value of the currency.
After ballet experiences, the
have fersworn Germany
techbique,
1122
their curly
90 cent. a ital, Hid
Isas, ram
Wirele
k
!
But, with
aftesings Dant.
horou ly Lomaksy
July the
Traite
The Covat tem na ed up main an ite
ull month
1.
'N TAMATIE plower whh ycleury's
ecommend you the Team Ines that a reage allotments in cat når be replayed by quantoy alleaning as a move
to ve te sut pun. pauales Cerilibrates of all cotton 4 baland 17.400
terd
Jan
V: ume
att!
opg
21.
2017
11 hou
24.00
NJ 1 106.500
24 37
017
RAMS
1sabre
NEW YORK
Prices of futures de el lusiny
as folows.
Mer
MOY
Jy
Ort
Bur
Min
May
33 02
312
38 C2
31 07
37
30 71
NEW ORLEANS. Prices of futures closed today. De follow
J'
Mer
Fa
Atwy
JY
Dee.
Mrr
hiny
3612 3360
34 R5
36
ጊዜ
Y: 01
LIVERPOOL Future elesings, et pence per
were as follaves.
24 25 20 25
Old contrael. Mer ZAor
May/June
July/Aug
New contract M v/Jun
July/Aug
Out / Nov Dean
Egyptian Karnak Jats/Feb
SAO PAULO
Future closings
per kilo were as foll. ars
Merch
May
July
Oct
Dec
27 13
FISAN
that
22. more other
Anything But
result
ideal state of affates, Now we The capital market is Betti, inas
nd what is the The firm thora of cap lal, have got
#mamle for wage la- vetislatia)."
Frensis everywhere, shortage of jabour and nothing less than wag: practices eeping up
in some parts of the
The reommy the the presure; and as deny money
for [00 ahead; deprecinte Truk le farndry Personally Germany's grent eithe
Dedermis it dd-manneredetichina la frein whige "currency"
walt and see what will become of your aims and fit als
[ That is why they put up with
1.
h is a most
heas
Men Fr his official capacity he
erunt, for the eflen els pr
the stue at the currency.
tay ke
Not As Big
In his job they wand which pinks of "Mirting with the ught of and teflejon" s at it was rete fairy til aɔsetrily.
The owness of German coulty
edura krast
Stock Exelange boon
up to mic- 1965 my " bigmike us the
K
been AL
1
buda remanly 1.
Ve 21
11
was not ntarly to big mistake the height of bond
1. Ban made the mistaks of kreping money to choup at a buom. Germany made the mistake of keepine 15
Mirabil
N
You will so whal will be kit of what we have achieved.... Ail at best get will be you will Blusery
inevitably profils doomed to melt away You wil
a will be it exports cendi full employment."
Betty at the expense of utter 14ople, it is worth waling the BDL's remuks on the occasion of its August maye; Ivan h xpected
defending to refrain from internal financial stability merely in order to wipe off th whit of the surpluses on its balance
>> quickly as Dayne 1 pass blast there by 1 make it asier for ether countries where Dornelal disciolino is wenker to
in achieve balances" ol payments."
Ocemany is not wiping out payments surplus-anything bul-and any
warm the vap fa
her
equilibrium their
Lance
إن
of
can
"
Grave Concern
Futures
Irregular
Chicago, Jan. 10. The trend in grain futures was irregular in active dealings on the Board of Trade today, Mosi soybean contracts were off about a gent a bushel, spite of a sharp advance prices of cash cdible olls.
Demand for wheat again re fected Ave-dep forecast for dry weather in the southwer!, witch helped to counterpart show domestic flour business and limited export demand.
When lozed up, 4 to 14
soybeans now
lo 14 cents.
CLOSING PRIČES
STOCK Continue Their
(From Our Correspondent)
Business done on the Hong- kong bock Exchange This morning amounted to $700,000. Noon quotations для the morning's ransactions;
Downward Trend
New York, Jan. 10.
Stock prices slumped still further PHABAR BUYERS SELLERS BALES today, extending the 2 and 3 point losses
INSURANCES
DOCKA, ETC.
K. Wharf ... Dock
995 04 090
70
which gave the market yesterday
*****: $21, 239% 2500 unsharpest shakeout in three months.
Provident (0) 15.15
Whitelock 830 000 1000 or 0.25
LAND, ETC.
its
All groups felt the pressure as traders sought HIS UIntel 17.20 $1.40 300 17.30 to bring prices down to a level where new demand could be found for a further attempt at recent highs.
A. Hubbar
Trut UTILITIES
Trai
Y's Ferry
33 1000 e 33
any, ana, 1100 « 2012 14 00
52 15
10 30 19 10 1500 9. 3090 1.1.
1. Crawford 34'
MISCELLANEOUS
Abou
WORLD
Tax selling, and unfelpation, Glidden Co.
of the big food sturk
later this month
uffering Godrich (BF) Co.
Gundycar Tre contribulod heydal Chemical
to the dealine, commentators | Hoinstake no.ed.
Ingersoll-Rand C.
Injana Steel Co.
interchemical Corp.
Lossus generally held under Business Machines
pomt although there werent Harvester
wider moves.
Du Pont Outstanding
Du Pont stood out with drop of 25% to $2244% but in The same group Allied Chemical up to $111% againai the general rend.
CAN
International Nickel International Paper Ini Tel. & Tai, John-Manville Co. Hatsan C. Power & Light Kennecott Cupper Liggell Mayers Tob. Co. Lockheed Aircraft Loews Incorp.
Lono Biar Cement Ca Louisville & Nashville R. Lowenstein & Bons. Membi Iron Corp. Minnesota Mining
Le Muntguesory Ward
Motorola Ine
Os had some sharp declines. | Mimion Developinant Standard OJ (NJ) fell to Monsanto Chemical Co. $150 41, Continental sua, Rayel Dulch % to $83, Cult 4 to $391⁄2.
1/2
National Cash Rog. “A” Napanol Dairy Prod.
National Lead
In steels, Bethlehem last National Distillers to $1584, US Ste: 4 to $58, Republic 14 to $40%.
Carysier last 4 to $81% and
National Steel Corp.
Olin Matlinson
0
Elevators
in
HK, Land
In
sealty...
1.02 1.9.B
193 2 15000 199 1300 v 1.03 2.73
25,02
200 ur 244.
50 x 24.40
104 105
NAF 105
403 4
100 104
Ľ
Light (0) 22 40 22.60
off
%
List (W) Flestrie
32 22.40 17 L
10.00 47, 1914 385244 2000 42
LI
sume
Macao Flee 0.20
Prices per bushoi in cents: Wheat, No. 2, Red
(N) #38 342
Spot
May July
Corn, No. 2, yellow
21Sta Mar. 210 2003 (2) 21154-16
200 1985-1003 201
Cement
Rope
STORES, Erd
Wat
Sput
12045
¡COTTONA
Mar
1306-15
Textile
the
May
13455
Corp 570 à 40 TODO ve 4 70 1300 ji 3.60
Just
July
137th-
Sept
inat-s
Yangtze
Ryc
5.00 5.DU
Mot
12436
May
124
ORL
Mor
6031
Мну
051
Jan
Sor beans, No. 2, yellow Spot
24015
Mut
May
Barley. Spot
130-1401
P1 the
New York. flour
sack
WINNIPEG PRICES
813.400
Winnipeg, Jan. 10 Præces of grain lutures closed
In cons
per bushol
as
Feb. Mar, April/June July/6cpt. Oct;Dec
342-045)
23-59
22
321-32
111
Sincisir Bil
Saint Reg. Paper
3011-01
General markets, cif batta, purta:
Socuny Vacuun!
73
704
60
Jan. Feb. Kathia eripe thin Jas.
3438-3434
All Chalmers
07
South Porto Rico Sugar
31-342 unquoted
Arreviton Arlino
2.39%
Southern National
As
American Cyanamide Co.
042
Southern Railway (Com.
thick
204
Am. Mach. & dry.
25
Standard Brands
113
SINGAPORE
Americna Maint
and
American Betting
до
Standard vi of Ind
Am. Sugar Hef.
9434
American Tel
10016
Sterling Drug Co.
on short
American Tob, "B
204
Htukely Van
anscende Copper
Armco Steel Armour
4042
201
1444
40
623
171
TOIS
U.S. Rubber
B
29
U.B. Steel ...
33
1714
Warner Bros. (nd)
He adds: "You will see what is left of armaments, too, if
Comment
emel
given priority over Currency
guined:
REMAMER
Everything we have employment,
ひ
prus.
July
fb או2
JAN 01.
peruna scenemy. cul ach ever o, last but not least, inents our political life are founded on today wear it.
of 1954 the a stable currency. In particular tollows: In the autunn
Funking sest in
thuy #ol raying
the Gala W-3 Cyman
burden
would: May piring about DM210 milion of
main bearable if we were de- and foreign exchange a month
Eberately to 055umc further r In the rutumn of 1955 1
27 was
May bur:fens in other Belds, such as July about DM165 lien a month,
punl shfries. On the cantenry: Ogi, for the supposed Sa much
the volum Germany's
uf expendi'ure on Barley 12 there was slack in the dippeerance
May armaments calls for strict end y Stil Jess payment surpluss.
rcurile contatument in all other Ort. the strplored waning of her
Flaxined expenditure. Export pre ure, and
May As regards armament, grave July concern is argenvald by the Ort Lesport rumpling on which er mar
Wheat. No. 3. from observations by friends o'her pmple in Belein and
prote No. simply
brnal kidding rouniring
14 Press mark that the German can ex- themselves,
love to yevgealer mounts going into the usends of millions.
It should be pointed out that we cannot,
ctther by
"
economy.
Until early in 1954 The effective bond yield in Ommeny 21 10 per cent: make a proft by banks could
for THIP deposits paving that which they used to subscribe to Covernment bands. Throughout CHETTY with Eurone's highest tate of spital formation and al foreign exchants accumulation,
end has Europe's highest
24 17 money ratea.
23 47
4B 65
in cruzeiros
29 4"
E# 20 31 เค
31.00
the
In the Untied Bates average price of 13/18 middling celton at 14 designated spot merely was 33.80 cents, Sales talled 24,748 bates, Unlied Press.
Exchange Rates
ltrleཆམས was done
unemeisi exchange
in the local The mas hel
trning at the following rates.
D
UB. de Urr per $1)
3 JA
Bier how per
15.30
Auftreten netes (per £1
12 30
JEZETEN inch (per 100)
100
Blam teal (per 1000)
2010
Singapore Stroll)
Dearer Still
of emergence of an
arg
Might Do Worse
.
In the fourth quarter of as she has hid what the BDI, els ja "remarkable" expan Jen in her exports, far bigger then the Increase in her Imports,
17
Y
wi
i
ther
means, be forced to inear grater expenditure and that the extent of armament expenditure ka a matter for free decision on the part of the responsible German
Now that the slack has gone, thee stapped back into con:Hop wuthoris
policy might be lo the topical put taxes and to make money dvarer--which is diffleult when
de: ey is try lar Since
follar Impart Uber-Best'ans and ier Inoria of doller coil, the ab'e surpluses with the dollar area.
А
On
Dr. Vocke
Full Weight
123
northern,
RUBBER
MARKETS
London, Jan. 19.
The rubber market was very steudy with spot unchanged t 19% pence per ib. Prices:
* 346-349 yetti.mens howe term
2471-3441
The market was easier
woak on lower overseas advices 100 but
later
Lovering
sleadied
and 88
some Japanoso orders. Fu.ure cloungs were:
3734 No. 1 rubber per Ib. Jan. 11215-1175%
ZA
Feb. 117-117
Mar
unquoted
170-117
1234-1103
101 No. 2 rubber per lb. Jan. cenis-United. No
INO 4
111-112. Esp. nubiber unbeled ".. 1171-1174
Blanket crepe
.03-00 No. pain crepe.........
120-130 AMSTERDAM
Active Selling
On London
Markets
London, Jan. 10. Industrials and British stocks took
The market Was steady. Prices closed today in guilders per kilogram. cif January as follows:
No. 1 rubber
No. 2 rubber
No. 3 rubber
No. 1 repa
3,40 buyer
3.39 buy,ra 3.26 buyers 3,00 buyers
Swan-¡llinois Class
General Motors to $421⁄2. Paville Ons a Eleo,
Duw-Jones closing
were:
30 industriale
20
ra is
18 ultie
43 #2
40 bonds
Comm. future price index
Comin, sput price index
Moody s 14
averages Pase Western
Closing Prices
Alden Inc. Acy. Aihed Chernigɛla Allied Mills Ing.
Lt.n-Lima-lam Baltimore & Ohio Hendix Aviallon Corp
Benguet Cons
Bethlehem Steel
Ucoing Airplano
US Co. Byrough Add Machine Canadian Pacific H Cuse 13 I. Co. C. T. Financial Corp Cat Tractur
Celanese Corp. Clare Manil Chrysler Matyrs
Bank ixdi
Culate-Palmolive Co. Commercial Creat Commonwealth Elre. Consolidated Ediron
New York rubber prices were Cat.nental Oil of Del unavaliable.-United Press.
Singapore
Vocks's loaded vehicle it is useless to the brunt of active selling Stock Market
say that there is
or
go across.
the
carry full
retreat
of
A
Observers
the market ritsh suld was seriously upset by overnight uneasiness In Wall Street
161 nection that the foundation of bother to create the disturbo-preciation, he says, "would only rally in the forenoon
BIF Textile
Fair
Planned For 1957
London, Jan, 10. A textile and clothing fair is to be held next year in conjunction with the British Industries Fair.
ant
107
interest.
quickly Kempasor Estates Ltd.
Litnas Rubber
Malayan Breweries
$2.11
$3.47
Now, Berandah Rubber Co.
Ltd,
Petaling Tin kid.
Continental Steel Corn Products Crane Co.
Crown Zellerbach Ciban Amer. Sugar Curt Wright
Diamond Alkali Dow Chemicals Dupant de Nemours Eastman Kodak
El Paso National Gas Erie Itailroad
*Corp Family Finance General Electric
General Foods General Motora Gen. Pub
Gillette Safety Razor
470,20
Pi Amerern Airways Paramount Pictures L'arke Davis Ca, 15703 Penny J. C, Co.
03.45 Poon. Sall Co.
Philip Morris
3.80 Philips Petroleum 182.04 Procter & Gamble Co.
Industries 100.69 Publicker 404.50 Fure Off
Itadio Corporation Republie Stect
esnalds Metal
Shell Ou Co.
Carp
Standard Oil of Cal.
Standard Oil of N.J.
Studebaker-Packer
Texa Co.
Tide Water Air, Oil
Twenty Century Fox Filin
Union Carbide
Union Pacifle Rotiway
Unfled Alterati
11.9. Gypsum
a. Line Co.
Smelling
Westinghouse Electric
Wert V. Pulp & Paper
Woolworth
„United" Press
New York Foreign
Exchange
New York, Jan, 10.
2.801
2.00-2.02 30-day futures.. 9,80-15/T)
Canada
England official
Unofficial
由
48
DO-day futuros 2.70-13/18
2150
New Zealand
3.70-13/10
2
Buth Africa
54
Belgium
ar 07001
-it
Perdtugal
0350
43
Spain
.0233
35
Others were unchanged
United Preis.
THE ROYAL BANK
$1.00
$12.65
Assats
$9,35
$2.00
China Mad Special.
A Whitehall I ran to cope Art pat ng cua derable pret- Anti-Inflation^rv sure from abroad he says he will August the B. hs template
educational compaion. It might point out that if a bridge can- hen making it dearer still. It
then worse
not take the weight of an over- Government д ftw Frint has had the grace to remark
copies of Dr that this action does not imply million
ent Hamburg speck.
milltary order and most sections were in recent In that money Germany was
milltary consulenal
political So the US previously too cheap. It has
the
Singapore, Jan, 11. inhumen
necessity that the vehicle should general ngeinst eventually the provision also said
London Stock Exchange Brokers today quoted the fol-
lowing stock prices: German
seme people here prople сап
rightly punishments,
deserve to have to read it. It
be enough. today. "That ought to
Opening hope for cheaper morgy,
You
that sure may be In
Batu Lintang Rubber Co. LAG, "31.03 latest bulletin
might give them un inkling of
Boinco Petroleum Dançaxy fee pinie if the
40/- of the what they are up against. cherules
Syndicate that "many
rio Smelters Ord, 321- storts by telling spans Lle authorities, which they
Contaldated Tin Smelters t factors which are at present de-
Fraser & Neava Ltd. Ord.. 180 German labour that if it presses will express on the grounds of
Fraser & Neave Lid. 75 cum. we sing the capital market are | Get
Indationary WPRO claime his their technical knowledge and
$3.86 pref, comparatively short-termina
will
Talk of a possible hike in the furs. Il must be again and central bank can and will get experience,
British bank rate added to the Hongkong & Shanghai Bank-
$910 ing Corp. weight." why again emphasised
to neutralise them; to in this con-
Trends towards currency domild case of jitters, and a slight Hongkong Tin "Ltá. 4 who will accept
be possible it the central bank collapsed. sponsibilty for creating
He then gives the some cool were asleep or subjected to
Took Beating Intimation
about
industrial force." pricing, agricultural production He concludes with a twofold
Hanes Hotel Among industrials, Boraxagore Cold Storage EXCOLLVO
First to the grasping public call.
Deferred and Hudson Bay South British Inaufance Co. authority capital spending, dis-acctional interests, "Be moderate, missing them as suctional pres- and do not compel the central plummeted about Ave shillings. Trading sures, contrary to the national bank to apply greater pressure." Other Issues belleved to have Straits Steamenip
And secondly to the whole American support also took a racers Ord.
Werne Bros. Paper, boating nation which for its 14 rellas
Bowaters Melt Away
Imperial Chemicals, Electrical and sound upon a
stable
Musical Industries and Wool- "We trust that common sense currency: Be without fear, we worths foll, shiling or more. New York Sugar
are on guard!"
Motors were weak, with will prevail and that these con-
will show poit-control So now you know about Ger-
more than rather then expose themselves to man rearmament and all that. Rolls-Royce down
wonder what would two shillings.
New York, Jan, 10, Government stock# coercive measures...Experience One may
London official ertical happen if any
Consols tid
No 4 sugar future during -particularly
the ever talked that times has shown
to the British in faltered. Old
Nailonalisation Lastes were closed today one point lower to lop this fashion,
one point higher with sales of foundations of economic develop- ment
Would he be lynched, or major losers. and progress are not
Ölls, too, were under pressure 17 contracts, or would he and Britain's Inflation,
Domestic No. è suger futures impaired endangered
three strict central or would he be dismissed as bad and dosed moderately lower. curtalled by a
foreign bonds, closed- unchanged to Among form? bork
and by credit re- palley
The Germans like it. The Japanese moved narrowly and points higher with sales of 178
contracts. As in 1950, there will also be household textiles, man-made sirictions. It is not our desire
atricter credit trade union federation welcomed Greek liens mandaged gains of a BIF In Apri'-May. The rots, fute, gloves, handbags, | 10.
not
Vocke's Dr force.
speech, on the about R1United Press. addition of a textile fair would|choes, millinery, cosmetics End | restrictions. Do
us....Should
our appeal pass ground that the working man is ..we shall not fall to the worst sufferer from inflation. unheard. Industrios Fair Ltd; . hot, Brilish
assure you that and I can
Clamber Out has already had discussions with we shall do so in good time and
It commented only that the The National Hosiery Manu efficacioully tacturers Federation and The
"Even the largest groups are osiery shi
Kaliwaar Export minorities as compared with the law for the encouregontist of In-
stimulation last
ycare Group and in addition, plans arand total of our nation, whom vestment had led to some over Perhaps it is the US that of textile products at intervals hove Even discussed with the we serve undividualy; this total
Watch Who esale Clothing Manufae includes the housewives. It should out. The kind of New York
Feactition A strictly mites number of tutors
that policies Great also includes the omdials, the
the US is preparing Amlardan of Great trader concertin
with fashion Britain and The Shirt, Collar ponriver and last but not to pursus during the coming Foods also be included in and The Manufacturers Fadera feast, the savers, As heretofore election year, cannot do much thin foir, which would thus cover tion with a view to enlising they can rely upon us, we shall more for Briisin than help her Mijn.
The country: || kthy horsports chiner geiridih nas neriais to take nation if to clamber, out,
se mint cetively explčítanie m Women's clothing, men's and eligible to exhibita, navezano jhrete should be Stimbundet children's clothing, hosiery and baan contacted. — Londis - "We used to hear a great deal US policies is Germany Chian, our we MALIWERY: "ARKAinda and apparel," "press SkXV.ce,
about full employment as the Mail Spacial.
It is hoped that this new fair will form a separate exhibition at Earl's Court, London, in mid-March. It would immediately follow the first BIF in the year for other consumer goods such as toys, stationery and fancy goods.
thus form a third BIF in hair-dressing. London in 1987,
„Limited Number
The next textile fair would
not be einged before 1959, se i
is proposed to hold exhibitions
of not less then two years.
the following ledustrien
cerned
ог
British
119
World
Market
་་
Domesite row sugar firmod all avillable sugar at 5.83 cente u abearbed tpparently wat and sollers upped London Foreign their price to 5.85 cents.
The world raw market wils quiet. Futures;
Montres)
1
Exchange
Contract No. 4 (World)
Match
・buy
July
30-11/10
kept,
#pot-leania por it, tol
Cuba)
Contract No. 6
March
July
PADRI
OF CANADA
Head Office, Montreal CONDENSED ANNUAL STATEMENT 30th November, 1955
Cash on hand and due from banks (Including
Items in transit)
Government of Canada and provincial govern
ment securities, not exceeding market value Municipal and other securities, not exceeding
market valuo
Call loans, hilly secured
Mortgages and.hypothecs insured under N.H.A.
$ 542,433,984
944,000,048
300,820,817
74,768,180
Total quick RSCIS Other loons and discounts
$1,918,740,679
1,188,841,182
(1904)
100,865,965
Bank promisce
27,119,380
Liabilities of cuclemers under acceptances,
guaranites and letters of credit Other sects *.
02,423,760
0,143,903
$3,204,143,885
Deposits
$3,082,220,849:
Acceptances guarantees and letters of credit
Other ligbilities.
82,423,780 9,581,028
Capital paid up
Liabilities
Total abilities to the pulle
Rest Account
Undivided profits
LOVER 800 BRANCHES in Canada, West
South America, Oficer in London, New York
No comments yet.
Private notes are available after approval.