THE CHINA MAIL,
TUESDAY, JANUARY 17, 1956.
TRADE
and
COMMERCE
Marked Change In Britain's Retail Stocks Economic Climate WORLD
Under Heavy Pressure
London, Jan. 16. Retail industry stocks
felt heavy selling pressure general the London
and featured
บ
downturn on Exchange today.
Toda
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Nextdo
the ar Tur 26. | 1"
1
The 29
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with Woodwoa thi
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Streda worl eles trial and
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for
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Get an
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STAGE OF EQUILIBRIUM BETWEEN
INFLATION AND DEFLATION
MAY BE APPROACHING
From Our Economic Correspondent
London, Jan. 16.
There is no reason to suppose that the construction put by the London stock market on last week's economic news is
COTTON
MARKETS
New York, Jan. 18. Moderately active and mixed cotton futures Trad- ing today featured firmness in nearby deliveries white new crop months see-sawed uncertainly.
Current March contracts worked up to around the 34 cent ine,
new high sinco
any more reliable than most snap judgments. But though March 3, 155,
Britain is not threatened by deflation -- as the market was at first inclined to believe there has been doubtless a marked change in the economic climate.
Up to a week ago the stock market was convinced that inflation would continue. And its opinion was backed by many economists and financial observers. Wage claims were increasing while the Government stood by apparently helpless. Nothing, it seemed. could stop the relentless rise of prices.
everal than
An Um
bat da
Than
T
Jaly lower
Prates 1
takes to ther
1
New York Stocks
Pushed Back Nearly 2 Billion
New York, Jan. 16.
position
extremely valu
רגני.
Why ba KAUNEN, Lou for aut
M Co of them at pHR! Block As Vakum 11**
1. 1
Da Nine,
Less Concentrated
די יין
WORLD RUBBER MARKETS
Singapore, Jan
Se aubber market was quiet Ford featurries all the day komp Future closings were No f
... Pl
1157-16,
{ས་
Spot month covering. plus New Orleans an commission truse buying. pointed
up
viving retivity in the textile market and a tightening sun- tion on "free" collon supplies in face of the giant-size: stock now held under the government loan shelter.
At the close the list ruled 22 podots higher to 4 poluts lower. The market opened up 3 to off 13 points. New Orleans closed
p 4 to 21 points.
NEW CROP months
SECTION
Atomic Order For Germany
Ronn, Jan. 16. Germany has won her firat export order in the atomic field--for Australia. The Gustavsburg, South Germany,
plant
of
Aug-
to
Maschinen Fabrik burk
Nuremberg is make component parts and protective tubular Inktalla- tions for the reactor plant at Lucas Height, Sydney,
This German firm acting
sub-contractor in British company. The value of the contract is not revealed.
AN
In Bonn ALIN belleved that the orter went to Germany Lo speed up British deliveries to Aus- tralla. 1ondon Express Nervice.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- konų Stock Exchange this mor New crop months met spurtsing amounted to $730,000. Noon Fralising quotations of hedge seling and
and the morning's by recent buyers pending fur
transactions: ther Washington developmenis
SHARES BUYERS SELLERS BALES on farm legislation.
BANK
In the spot markets, Allenda demand it good Terts noted from mili interes's 1 The past
timon Lombard
HK Bank
1750 1720
INSURANCES
+
DOO
200 37
KR 70 333
werk Inquiries COVETON alt grades and staples. With plants DOCKS, PTY
capacity.
operating
were i 1 tre dunking
K Whert
s uf
Provident
buying for summer shipment
Told)
Wheelock
Memphis accounts also noted
more mill interest in spot ent- | LAND, ETC ton will sales mute for m-
merate, spring and third quar-
ler shipments. Houston re- ported considerable interest by In the short overseas buyers
under cotton availatule
that wandy
then relat pose
With the
Faiz
And
Confeder
In
1
atly TILE CON-
tott
Candles
Fel N.. 3
No
quoted
14-113
Jubba per
th
nila,
Vet Pivot
Dwg pests are only
Find t
t
the list which
?
110-111 1154-115 190-12
"..
pade e p
126-127
11
whinth Clovername and s
1:0
NEW YORK
end tu halen.
NEW YORK
וי
Stock prices were pushed back again ing on for some tuis
today on the tune of nearly 2 billion in overall valuations.
prozra
fighter
זיון .
Speculan undich
Furs today closed 70 to 190 This pass fall roughly into įprats down with sales of 200 two parts. Ibe aguerza " un contrats at Vent want the reletions own Fenton cables and the Bata or mettiges Lark of factory buying as tur
purchase
The decline, the sixth loss in the ten sessions
leaders so far this year, cut prices for some much as 4 points and there was a saving featuresigned to rui duen
in activity which inclined only slightly to 2,260,000 |13 **** shares from 2,120,000 on Friday.
T
WOREN11 the hex conta
יין
P
Inge with
Alfond avioad Lay rule 19 sage Lama
in
Wall
Street
་
conammaly
In is part on f mentators, whether
I res.dheit st
#gata Is he ing queden
Alfred San Chouktas el General Mor
Geged 32ove
The Pee sunt o dem Taavi 615 Me Safely ge The amewekant. |
outlook will be gone with the
Record Forecast
*131*
nim & Jong-arma
Harlow
recor
PAREPAR
..tick
16
1.4 1
the commny.
meat it the oral spot market
1. themagh
2-18
Furought
Trade Figures
But through saths are Qal the
cre fit
*14444*2c
Description of liquada-
then by recent buyers along with hedge selling
staple the export Bales programme.
certificated stock <le- The clined 525 bales over the week- New total of 18,852
Prices of cotton futures closed today as follows:
Sput
Mar
MA
July
Oct.
Dec.
Mar
Sinall sales in the spot market lucked some April-June three hot at 37%
May July
ground.
del.vered
Spot No. 1
ss wer quoted
I begaturing fojat jako cents a pound abitve R 40% rural talk
20% of deflation as b say the legal. 37
!premature. The weeks that [arwe ad potents in the opposite
35
44
I direction.
Th overens Trade djures, for example, look anything but etationary. Brid exporta
15.5
a by 232 mad s but pupatta were up by 4515 mition and only a small part of This increase was due to higher price. As a result the counley's
tradu
March
May fly
D
pe 33
NEW ORLEANS
235 40 150 200 ... 30 30
20 8 30 1400 m 0.20 300 P 3.23
17:30 171⁄2 1000 m 17,40 11300
21000 115
14
Hubber 199 100 3000 4 1923
tuc Hotel
HK Lond
ille
13
A
Trual
UTILITIES
ودرو
200113
102770 B0004 2.73
24 40 24.00 1000 224 (2)
Ymall Ferry 106 107
2000 2415
700 or Tod
{" Light 01 22% 22 60
ALU M 219
300 et 22.00
Igut (1) LOGU Electric
... 4341⁄2 432
(New)
Telephone
INDUSTRIALS
BOD AT 433, 100 4153 2004 30043 78 2300 #44 29.50 1 4342
800 33.
30! 37 100 31
23.400
14.03
Macao Electric
(OH)
น
34.23
6 20
33.11
33 33
71 01-02
30.01
Cernetzt
30.48
Hope
30.17
STORES. ETC.
Bedry
Watson
30 68
Prices of futures closed today
Futures:
us follows:
- 35-GO
Spol
31 75-80
Mar
3G DO
33 45
May
3125-30
July
Oct
LONDON
Dec.
Mar
Muy
July
The market was barely stendy with spot quoted at 331⁄4 penes b. No spot Hss 33-
Settlement house February Mureti April/June
Det/Dee
LIVERPOOL
34.23
34 2
34.24
33,10
31.08-00
30.00
31.12
30.61
Future closings, in pence per 32), -33%. | tb, were as follows:
Old contract Mar/Apr.
3-321%
May/June 201-31
July/Aug 20%-20% New contract May/Jun
COTTONS
Textiles.
Natyang
14
1600 36
IO DV 19 01010
13 13.10
015 0.70
MISCELLANEOUS
Yangtze ***. Allied
1,03 6.43
250 18.00
Singapore Stock Market
Singapore. Jan. 17. Brokers today quoted the fol- lowing stock prices!
Opening Batu Legione Rubber Co, Lid. $1.63
Petroleum British Borneo
Syndicate
Jatite Paffi
J.)
1 C
.1
kamat haer
42
[
id. led 32 merte
at bent
of Del
I
plemental Steel
37-1
Arabe th
For al 1 he
fan Amer Sugar
1
201
wind Alk
*4*
1. Spel
Dow Chemie de
124 Brass Maltons) Ma
A!
201
い
Moner Comp
A
Cined Mot
Chay said H
De Pol COF
28.20
Kalelden (NE
24.45
Conhell EPC
24.10
Beyden Chor rent
14mthe Muning Co
13/
Fr guard-Rand
5
Julam Steel Co
44 per
Gonein mackels January Februni,
July/Aug.
Oct/Nov. Dec/Feb
20.78
25,30
Intrebearent Corp
mullion.
Egyptian
Karnak Jan./Feb
4145
AMSTERDAM
Consolidated
**Tin ́ ́ ́ Smelters
In
Curtice, G.
M
Int
Burme Makines Harvester
4013
SAO PAULO
Ord.
374.
fest
aflest
kite routammad Niettel
az
Інца
Uth tag Boral Paper
113
the gap was of raw materials
The market was quiet today. Prices closed today in gullders
in Tel & Tel
30%
Future closinger, in cruzeiros per kilo were as follows:
Fraser & Neave Ltd. Ord. Fraser & Neave Ltd, 725 can,
40/-
307- $1.80
pref...
$5.05
Hongkong & Shanghal Bank-
Juhn-Manville Co
20
Bonus ( Powen de bught
Kentrell Copper
1190
то
00
before
nd there halustrie; gave more work
follows:
March
20,00
ing Corp.
May
24.6%
Nu
to morg men than
Nu
Ever
rielber Tabber
Hongkong Tin Lad.
3.28 nom.
July
28.79
Kampar Ltd.
NI
5 rubber
21%
No
erepe
3.25
3,32
Oct
Laimas Rubber Estates Ltd.
Dec
United Press.
20%
422/
107
31
-15%
410
4012
more
President.
In
history fu the auto Chrysler foll
than point: Gerzaal Motors a major traction.
Stell shares were among the hurst bit in uday's selling.
Bethlehem was of 4 points. US Steel, Crucible and Youngs- town. Shert and Tube dawn 2 or more and other teaters off well over pudrat.
1, erat Mevris Tub Ch
Lorkherd Aircraft
ews incora
Louisville & Nashville ́k
wenstein M Sens
| Mesabi tron Corp. | Minnesota Mining
Mission Developmiens Menanta Chendeal Co Montgomery Ward
| Met vrela be
National Cash Reg.
were National Dairy Prod.
National Distillers National Istad
Non-Cerrutis metals down sharply. Copper range. American Spelung, Kennecolt lost 2 points or more
Rail losses ranged to 3 points
in Southern Hallway.
Of
a lot! 1,198 jasues traded
today, only 225 were
Olin Mathienon
Otis Elevators Owen-Illinois" Glass
Pacific Gas & Elec.
higherPacifle Western QI
while 784 were lower on the Pan American ALTWAY
Paramount Pictures
York Stock Exchange Penny JC. Co.
bond volume was $4,270,000.
American Stock Exchange
volume was 820,000 shares.
Closing Prices
Penn: Salt Co.
Philips Petroleum
Pronter de Gamble Co. Pittsburgh Plate Gleas Publicker Industries Ture Oll
Radio Corporation
day.
New
"top" the difference July/Sept between Ha' imports #nd ex- Use by £285 mullion pe ceut to a colosal 28041
Much of the increase in ex- which cause this yawn-
ent basis, ports:
33-334 32-33%
to feed the county's booming | per kilogram. elf, Feb. as ndustries, And these maltrials
821
National Steel Corp New York Central
423
33
72%
63%
4215
34
Parke Davis Co.
Alden Inc. Aey,
$ 22
Repubile Sterl
Allied Chemicals
Reynolds Metal
Aited MB .
33%
Shell Out Co.
Allis Chalmers
07th
American Airline
23
Sinclair Ou
Saint Heg. Paper
American. Cyanamide Co.
0412
Sorony Vacuum
Am. Mach. F dry,
254
American Metal
B01
South Porto Rico Suanr Bouthem National GAS
American Smelting
49%
Am. Bugar Ref,
Standard Oil of Cal.
Southern Railway (Com.)
American Tol & Tel
100%
American Tob,
Standard Oil of NJ.
0132
Anaconda Coppor
Sterling Drug Ca.
11B
30
Arnco Stoel
Armour
Ildwin-Z-Ifmm, Baltimore & Ohto
Fendix Aviation Corp.
Benguet Coốm, ..........
Bethlehem Steek
Boeing Airplano
Borden (The) Co.
Burroughs Add Machine
Canadian Pacido R.
CJ1). Co.
Cf. Finaniola) · Corp.
Celance Corp.
Chree Mantina, marsk Chila Copper
Standard On of Ind.
Blokely VanCamp.
Atudebaker-Packard Corp.
161% Swift & Co.
2435 Texas Co,
46 Tido Water Assn. Oll
81
Twenty Century Fox Film
13% Union Carpido
18 Union Pacific Railway
259
પાન
United Aircraft
US Gypsum
28.8. Line Co.
UB. Rubber
772 | 3.9. - Smelting
48
UB. Stoel
Warner, BroE.
Werlinghouse
festrid
West Vas Pulp & Paper, Woolworth
At the end of November there were 200,000 more workers on overtime than In August an 13 000 more than a year earlier The number working short time was 34,000 out of a total working population of over 24,000,000.
Belic Talk
Unemployment was practically non-existent. It was down to one per cent in December but the 215,000 registered as unem- phuyediceluda boys and girls under 18-was 75,000 less thon 44 the number by which the work- ing population increased over the year.
40
64
DJ
These figures belto the talk of 70% defatiun which has spruit up
44%
over the past few days. They
LONDON METAL
PRICES
London, Jan. 10.
The Un market was steady while copper was also stendy at lower levels. Prices closed to- dev in sterling per long ten as follows:
Tin spot
a-month
Copper spot 3-months Lead int half Jan Apri Zing ist halt Jon, April
buyers sellers
מנם
B17 TQ8 700
00015 307 373 374 1111 11102 11134 11132
07
DALS 04 United Press.
show that there is a long way NEW YORK METAL 40% to go yet before that unhappy 54***
But there is point in reached. 42% a stage somewhere between in- nation and deflation at which
the economy theoretically วาง 341 equilibrium. If recent events are any guide it is that stage that Britain is new approaching".
(London Express Service).
Big Drop In UK
"Cotton Yarn
Manchester, Jan. 18.
Production of eation, yarns in
FUTURES
New York, Jan. 10. Prices of metal futures closed today in cents per lb. as follows:
15.15b 15.15b 103.70b 200.4012
Loud Jan
Feb.
Tin
Jun.
Feb.
Zinc
Jan,
Feb.
Copper, Jan.
€7.00b
Teb.
United Prom
11.13b 1234
LONDON SILVER
PRICES
London, Jan. 16.
10. 20
30.70
was
In the US the average price of 15/10 middling cotton at 14
markets designated spot 34,07 cents. Sales totalled 120,371 bales.United Press,
London Foreign
Exchange
Now York Montreal Brusel Copenhagen Frankfurt Lubun Milan Paris Stockholm Zurich
Others were Pres.
London, Jan. 16.
2.80-11/10-2.80% 2,002-200-8/15
139.00-130.65
Malayan Breweries
New Serandah Bubber Co. Ltd. Petaling Tin Ltd.
Ramen Hotel
Singapore Celd Stozege
South British
Lid.
rails
Insurance
Trading
Stratta Beamship United Engineers Ord. Wearlie Bros.
€7.92
China Mall Special,
New York Sugar
Market
New York, Jan. 10.
futures World No. 4 sugar closed today 1 to 3 points higher with sales of 30 contracts,
19.314-19,317" 11.73-11.732. 80.30-60.10 175024-1753 0341-085 24.532-14.04 1226-12.34% unchanged-United sales
Domestic No. 0 sugar futures closed
1 to 3 points higher with of 115 contracts,
The Armer trend of the raw market brought short covering buying orders into and trado
New York Foreign both markets
Exchange ·
New York, Jan. 10 Canade
$1.00-1/10 Kagland 90-day futures 2.13-23/31 Spain: Biweden Argentina
1020234 United Pre
Exchange Rates
M
In demestic raws, Sucrest bought 8,000 tons of Philippines. due mid-Feb., at 5.90 cents pound, delivered. National Bugar Renning Co. bought 3,500 tone. of Puerto Ricor, due Jen and 21,600 bags of refined both at 4.00 cents
a pound delivered. Futures:
Contract No. 4 (world)'
March
| @pet(cente":per th.
Bapt
done", In
the local
thie Mars
Contrast
Was quoted at 781 morning af tjw following ZUMN: ON ANY
the British collon" "Industry's spinning oceflon ligt year, yds |'. Silver 879,310,000 pounds weight comi- penco per fine ounce, for apotj pared with 996,980,000 pounds, and 77% for forwarde Angana weight in 1954,. It was ans. 78% and 78% penes, praviour!, |nounced here today. “Router:** **United Pres.
Britain Joins New World
Development
Corporation
London, Jan. 16.
Britain has joined the International Finance Corporation, an off-shoot of the World Bank, whose object is to foster schemes for economie development.
This brings the number of countries who are prepared to subscribe capital to the IFC to nine. They are: Australia, Britain, Canada, Costa Rica, Ecuador, Egypt, Iceland, Mexico and the United States.
Heltum's
membership covers, courage the growth of produc- the colonies, who will thus betive Investment in its member eligible to wooly for the
countries, particularly in this paration's existence
The less developed Areas of the
| world. It will huve three prin
development plans
1. It will
The Charter of the IFC reelpal functions. quires a malaman membership of 30 countries, together stela- scribing al krast $75 million, before the Corporation can come into being.
Legislation Passed
in
ductive undertakings, tesoriation with private investors and without govermnent guorast- tve, in Cubes where sufficient private gaujini is not available Jan reasonable terms.
Create Conditions
The prospective subscriptions of the nine countries already Tormally associated with the Corporation represent three
2 As suitable opportuni- quarters of the minimum capital |
ties for productive invest- requited. Beltain will subscribe ment came to its attention, it Untled will sick to reruit capitat from
$14,400,000 picl The States $35,100,000.
Thirty-eight Uber member Countries of the World Bank 3. have expressed their intention
lo stimulate, and la belp
{imulate,
private suivers and, if necessary, io and experience management. In general, it will reck
win dow of both anel menber- tomestic
internatiotan? private Investment into pro- The purposes of the proposed | ductive enterprise
Corporation are 1< (2)-
member countries.
The
To join, and many of them have renale constitions which afrendy passed domestic legisła- tion nuthorising their ship.
P&O B.I. E&A
COMPANIES.
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Outwarda "CHUSAN"
"CORFU"
"CANTON"
"CARTHAGE"
Leaves London Due Hongkong
271
Salted
1st February
2811 Jan.
6th February
Atte March
February 2nd April
Via Bouthampton, Port Bald, Aden, Bombay, Colembo,
Homeword **CHUSAN”
"COBFU"
"CANTON"
"CARTHAGE"
Prung A Singapore
Leaves Hongkong Dus London
30th January
10th February
11
March
6th April
27th February
וויגו
March
Hi April
2th May
Via Singapore, Penang, Colombo, Bombay, haen,
Port Said & London
★ Also Calls Marsailles,
"SURAT"
"SURAT"
FREIGHT SERVICE
dhe 3rd Feb. Kat 8th Feb
toads 27th Feb.
from U.K
for Japan
for S'pore. P. Swetten- ham, Penang. Aden. Port Said. Morseilles, London, Hamburg, Bo1= lerdam A Antwerp
With liberty to call at Belawan before or after Strata Ports and at Rombay if seducement offers. Tanks available for carriage of Oil in Bulic, Space for refrigerated cargo. Limited Passenger accommodation
BRITISH INDIA S.N. CO., LTD.
1850-A HUNDRED YEARS OF SERVICE --- 1054
"SANTHIA" due 18th Jan. from Calcutta, Rangoon
salla 10th Jan.
satin th Feb,
"SANTILE"
"ORMARA" salis 13th Feb.
& Stralis for Japan
for Bingepate, Penang k Calcutta
for Singapore, Penang. Rangoon, Calcutta Chittagong
P. & O./B. 1. JOINT SERVICE
"ORMARA"
in Port
from Bombay
sails inih Jan. for Japan
&
toads 25th Jan, for lagapare, Colombe,
"ITAURA”
"OZARDA"
"ORNA"
Anil 13th Mar,
·
Karachi, Basrah, Khor= ramshatir & Kuwait tands and Feb. ¡or S'pore, BOMBAT,
Bhavnagar, Karachi, Hurrah · Khorramshahr de Ituwalt for Singapore. "Madras, Colombo, UOMBAY & Karschl
EASTERN & AUSTRALIAN S.S. CO., LTD.
"NELLORE"
"ARAFULA"
duy 4th Feb. from Australia
alls Bi Feb, for Japan dus 6th Feb, kalla. 7th Feb,
trom Japan
for Bandakan, RABAUL, Brisbane, Bydney, Mel bourne & Adeltide
All vessels have liberty to call at any ports on or off the route & the route '&' sailing`are subject to change or amendment with or without notion
For full particulars apply for. MACKINNON. MACKENZIE & CO. OF HONG KONG LTD.
Telephone Nis 27721 4.
IFC's
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