1956-01-18 — Page 9

Page

·

THE CHINA MAIL, WEDNESDAY, JANUARY 18, 1956.

TRADE and

COMMERCE

WORLD Economic Developments

RUBBER MARKETS

New York, Jan, 17.

Rubber futures today closed

45 to 93 points higher with sales

of 843 contracts

when пл

Prices rebounded overnight accumulation of sell- ing, prompted by lower was absorbed.

KIKOT!

cables.

covering

Speculative Joined with a dealer demand in bringing a rapid recovery. Most of the business was contred in the May delivery, where 318 of the $43 juta traded were done.

Spot No. 1 Rsa were quoted ni 41% cents.

March

May

July

September

December

Futures

SINGAPORE

41 28

The market

was

lower

liquidation.

Overzens' IL

advices

Whis

wonk on and

slightly steadier toward the close

Fulur's

short covering.

Wheat Futures

Lower

In Chicago

Chicago, Jan. 17. Moisture over parts of

the winter whoat area

In 1956

YEAR OF ENHANCED

PROSPERITY

London, Jan. 17.

developments,

unforeseen Barring

brought lower prices to 1956 should be a year of enhanced economic

on

wheat futures Board of Trade today.

the

Weather forecasts indicateri

Huona

for ***W OT min

winter wheat states during the

next 30 hours.

The action in when brought

futures, liquidation into yo while corn and outs feit pres- cash demand from dow

hedge-selling, soybeans were hit by polt-faking.

<21

sure 1134

No

2

1.

Feb.

Mar

April

111-114 1107-13. unwanted

No

Feh

2

rubber per in

} Tubber I'

Ib

Feb

No

$

rubber per th

Feb

11015-311

110-150

100-107

1115-8117

925-1435 12-1234

Spot rubber untaled

Blanket cre

No tale crepe

LONDON

11

Exporters reported sales to sley of a fair amount of wheat 10 Isret and along with

of soybean moderate" quility to Formosa.

Egypt Is schertuled to

offerings of 980,000 10018 ceive

wheat after the close today from the United States, Canada, France net Ar- Australia,

The market was stendier after enster with spot at 32% perce | fentina, por ib.

NO RAN

PTICES:

Settlement Louse (ers

Fou

Mar.

Apri//ano

July/Sept

Out/Dea.

Jan.

reb.

Estale crepe

Wheat clared off 1% to 2% soybeans new off 1% to

CLOSING PRICES Prices per bushel in cents: Wheat, No. 2, red

321-22ents;

24 mts.

321-32

21.32%

3-

30%-30% 20-25714

714-23 nuoted

ན་་

Mar 210

Bi

JuỀ

Seut

cienterni snarkets ett bani, poris

AMSTERDAM

The market Wis rasy Lokay. Prices closed lay in guilders

31 kilogram, cif Fib as follows:

No

No 2 utal

rubber

No

} crede

הי

4

་וא

prosperity.

WORLD COTTON MARKETS

New York, Jan. 17. Cotton futtres today slumped almost $5 a bale in the widest break for any session in 81% moutha

In a brokerllie selling drive

at the close the market plum-

moted to the day lows, Anish- ing with het loco of 47 to 94 points Opening priten were Up 10 to of 4 pointe. Now Orleand closed oft 89 to 05

The governments and the financial authorities in the United States, Britain, West Germany, Canada and many other March contract countries have taken steps to put their cents prosperity on a firmer basis.

Nineteen afty-Ave has been a The boom year, but "too good," zoom brought over-demand and over-strain, which threatened to create a new inflation. dangers are belog checked by may cards. 1956 monetary

to come right."

Bentrer

As those

being "Just

af Industrial

bound

of 1903, for the third quarter which the alatistics have just new becu issued, it reached a

and shows little ligh record signs of slackening.

Farm Surpluses

In most countries money is

For sheer physical reasons thakely to be kept tight until

output growth

has done via jobs of throttling in. Kiarken,

in Britain and several seEMA Darticularly in the United States flotion.

Productive other countries profts are likely and West Gorinany.

But this does Capacity and Thw materials to be squbezen.

mean a slump not necessarily availble for simply

in stock exchange prices.

stock 1950 to record gains its big as

healthy

exchange those of 1055

requires a

res a healthly economy and the price of making it healthy is worth paying for investors as for all other people.

ne are

Softer Spots

But any further gains should be on a much sounder bash

In at least two industries~~ and buskling the New motors Year may

actually fall below the old and Those prospective "softer spots" can be regarded Heliberately contrived by 18 official policy to as to create

A

At the opening, the nearby rose to 3475 a pound, establishing a high early last March, 92.60 a bale then backtracked from the peak

Dew

Sellers

fused over farm legislation cluding an

sh

SECTION

US Dollar Nate

Drops

Buenos Aires, Jan. 17..

Foreign exchange speca- Istore took a beating today When the US follár hdéo- dived its the Iron Markus from yesterday's cloning of 45.75 pesos per duilaran all-tinte

38.50

few hours. The drop appeared dre

1 buyer's maxinti tho record quota-

For Some houri, brokers would only well Szá

buy dollars, an Doką

saɛked. --

tho qualuchów United Pres.

HONGKONG

STOCK EXCHANGE

Good Company

News

Boosts

NY Market

New York, 17.

A heavy ration of good news-topped by the $64,50 offering price for the Ford stock, sale-bolstered the market today.

Auto stocks, steels, non-ferrous metals, rails all were in demand and gains at the close ranged over a point in some leaders.

Chrysler Motorm

The big steel Industry's ex- [5.4.T. Financial Corp.

Dal. Tractor pansion and General Motors' Celanese Corp. biilion dollar improvement plans Chase Manhat, Bank were a force on the upside.

General Motors and each ran up over a point, with GM the day's most active issue.

Chrysler

Colgate-Palmolive Ch.

Commercial Credit

Commonwealth Mies, Conandidated. Edima Continental Cul of Del.

In Toronto a lively mariect de Continental Steel

Com Proda veloped over-the-counter for Crane Co. Fard shares, traded on a when- Crown Zeilerbach

(From Our Correspondent) issued basis and quoted around Cuban Asner. Bugur

500, bid, 309 asked.

Business Gone on the Hong-

¿Curtia Wright

Diamond Alkali Dow Cheiricals Dupont de Nemours Eastman Kodak

Erle Railroad

Family Finance Corp. General Electric Geral Foods

said they wOTO CON- of some asporta

proposals, in- aggressive pro-

Over-the-counter trading in gramme for selling cotton over-kong Stock Exchange this morn.

and big amounted to $300,000. Nooh the United States could not be on National seas at competitive

and the morning's gin until the Securilles and Ex- permitting A bill

to quotations

change Commission registration grades transactions: mike substitutions

became effective late in the day. mand quantities against export

the BRABES BUYERS SELLERS SALES Initially, dealers in the New York from cotton purchased

Stock Exchange quoted the new Koverfanek surplus stock.

stock at $88% bid, $09 Ford Technicians thought the pri

naked. vilege

make substitution INSURANCES to

Union stocks for CCC from private cutton might result

tho in

Lumbard tender of lower grades, or rew sult in added hedge selling on thd contract market,

The

certificated stock over night declined 472 bales to 10,- 460 bales.

Wheat and cotton and the other farm surpluses are likely to have another difficult year.

No

July oľ their solution problem is in sight, at least Dec.

American the after until

or

root

Oct

Volume and

BANKS

HK Bank

1785 1775

51700

né 905

A1

DOCKS PIC

ETC.

10

Dock

JZ11

Light Activity

General Motors

Gen. Pub, Dtü.

Gulette Safety Razor

Ollden Co.

Goodrich (D. F. Co. Goodyear Tire Heyden Chemical Honwtake Mining Co. Ingersoll-Rand

Inland Steel Co. Activity today was the lightest interchemical Corp.

Dec. 28, with turnover | Int': Business Machines 400 3.20 since Provident Ch 13 20 15 40 1000 16.30 totalling only 2,050,000 shares, Int'l Harvester

400 8.28

compared with 2,200,000 yester-Internatimai Nickel 2011.20

day.

Wheelock

LAND, ETC

HK Hotel sik Land

Fleakty

averaged

Industrial shares 600 a 02.00 $1.49 points higher, ralis 0.32

higher and utilities 0.07 lower.

100 1.075 3000 or 7 RB

open

interest

were:

Monch

Morch

May

Volutio 18,000 32.300

Open weißerest

333,200

17:30 17!

02 0211 1:20 1 MİD

010,500

27,600

213,600

RUBLIER

9,800

108,200

A. Rubbe

8,000

2,700

69,700

UTILITIES

4,500

28,100

B00

600

105,400

1,307000 balen

NEW YORK

Mar

Mary Presidential election. But the ly countries Total governments of the oncerned will struggle hard and probably successfully to avold Idisruption of either the internal needed in remove for the international markets. the margin the Infintionary over-strain. They should strengthen rather than weaken world business as

a whole.

Little Danger

Prices of futures closed today us follows:

Trom

Y'mati Ferry

24.20 24.40 1000 v1 24 30

100

C. Lights (0) Zá,40 Electric

43% 43% 2000 o #33% 2000 G 9.40 250 8.30

30% 30% 100 301

Steals, hard hit in yesterday's shart-pushing, came back well and US Steel with Bethlehem each up around a point,

Non-ferrou19 nietals were demand.

of 1,177 issues traded. were higher, 389 lower.

International Paper int) Tel Tel John-Manule Co.

Hanne C. Power & Light ́.... Kennecoll Copper

Liggett Meyer Tob. Co. Lockheed Aireract Loown Ingrop.

Long Star Cement Co Louisville Nashville R. Lowenstein & Sons. Desabt Iron Corp.

Bitanemta Mining Allkaton Devicopment

in Monsanto Chemical Co. Montgomery Ward Motorola Ing. National Cash Reg. “A” 524 | National Dalty Prod.

National Distillers National Lead National Steel Corp. New York Central Olin Mathieson Dils Elevators

New York Stock Exchange hond volume was $3,880,000.

2081

123n 2081-2

200

1993, 202).

Corn No. 2. yellow

Sual

Mar

1270 1227-

May

Juh

3:15 nom

130%

310 nom

Nav

300 THOT

Rye

3:45 mon

Macoo Elec 0.30 IN) 0.20 32% Telephone

INDUSTRIALS

Cement

33 1000 st 3D

Mar

May

Dals

Mar

May

110-120

8~275 479%

Bpot

May

July

Hoybeans. No. 2. yellow

245

Spol

.

З вет

Metr

Max

Juris

futurem with

0

suger Lo

Barley

เคส

130-1401

$13.00m

materials was

threatened bottlenecks.

ta

100 treale

Some slackening the pres There is little danger that will touch off sure of demand for Industrial farm surpluses

depressions in the raw materials would be destr any world

At the way that they sometimes did in aule and a probable.

This time, to a large turn of the year the demand for the past,

a problem of steci, newsprint, copper, nickel, extent, they are aluminium and a host of other American politics rather than

big and

costly

Odl.

34.800 34.04 33.44449 32117-18 30.31-34

Rope

STORES, ETC.

Dairy

Watson

Dea

30,00

30.05

Mar.

May

COTTONS

July

RD.70

Textile Corp 1.60 3.08 Nanyang MISCELLANEOUS

477.73

Pann. Balt Co.

Prices of futures closed today

Yanataze Allied

20 rails

180.09

Philip Morris

5.05 3.45

ts.utilities

€1.65

Philips Petroleum

as follows:

3 stocks

108.03

Procter & Gamble Co,

43 bands

90.75

Pittsburgh Plato. Glasm

Spat

33.78

Comm. future price don

150,83

Mar.

34.00 33.40

Moody's index

402.00

Publicker Industries

May

Jais

Qut

Closing Prices

Dec

Mar

MAY

July

Alden Inc. ACT Allied Chemicals Allied Mitts Inc.

$ 2136

NEW ORLEANS

29.78

10.0 19 2000 « 18,90 15:36 13.50 12220 e 2010

1000 13.20

American Stock Exchange volume was 680,000 shares.

Dow-Jones closing averages

were:

30 industrials

Owen-linols Glas Pacific Gas & Eleo. Pacific Western Oil Pan American Airways Paramount Pictures Parke Davis Co. Panry J. C. Co,

Palect Prea

New York Sugar Market

New York. Jan. 17.

Mor unchanged

Work No.

closed today

sules of 37 contracts.

The

domestic Nu.

futures closed unchanged

one point higher with sales of

234 contracts.

AL

worki futures

Dealinger in Jacked while Irude interest on both sides of the contrael. Futures

New York flour

WINNIPEG PRICES

Wing. Jan

in crois por

bustel as

degree of over-strain.

The slackening, if any, may Prices of grain futures closed, hardly do more than reduce the There is no sign of it going to the length of too little demand and still Jess of any slump.

feature, | today operated foliows domestic

Contract No. 4 (world) March

+

Qata

Mav

Stals

Oct

324

Ryn

1007

May

♫ 20

May

Zu

3.20

July

1073%

32

Oct

100

Sep

Bpc 1cente per il

Cuba

terk

Barler

120

May July

308

3524%

Contract No. @

321

March

30

Flaxseed

MAY

543

Judy

5.49

MAY July

300

Spot

5.49

Oct

21204 321

Nov.

5,00

미

NY ex-duty i

3.40

-United Prena,

Spot-icent per th

world economice.

National

and

International politics will continue to influece business

The United States and West Germany have solve

and

the problem of the Eisenhowor

Adenauer

sucreations. Britain is only now completing the adjustments to the Churchill

maation.

economic strains may to influence Russia's external policies. The harvest

Constantly Confounded continue

Dollar

the

LIVERPOOL

Future closing, in pence per lb. were as follows:

March/April

In the Iron Curtain countries | old "esntract seems to have fallon short of earlier expectations,

devalɑpments are highly auspicious for the non- All indica- Communist world. tions are that the American be kept going, at boom is to

Presidential undl least election in November. If this Wheat No. 3. northern, 181% requires any contrivance, it can

be provided easily enough by tax technological advances,

by an easier money cuts and policy

cents: No. 5, 122 cents.

-United Press

Possibility Of An

All-Butyl Tyre

New York, Jan. 17.

Petroleum Week Magazine held out the possibility of an all-butyl tyre with wearing qualities longer than any other synthetic or natural rubber tyre.

Politically, Americans will be tempted to overdo their boom.

« new

May/June July/Aug

New contrací

Singapore

Stock Market

Singapore, Jan. 18. Brokers today quoted the fol- lowing stock prices:

& Neave Lid, "O

$939

Allis ChaÈRICTS.

American Airline American Cyanamior Co. Ám. Mach, & F dry American Metal Améritun smelting Am. Bugur Ref. American Tel

Americani Tob. "B" Anaconda Copper

| Dnldwin-Lima-tam.

Baltimore & Ohio

Bendix Aviation Corp.

Benguet Cons.

Bethlehem Steel

24,90 24.15

Over-riding all short-term difficulties the world seems to

embarked

on industrial revolution, based on

and the prospects | automation

other energy and of atorale

23.76

Avanticats

May/June

23.1%

Opening Bokia Lintang Bubber Co. Ltd." $1.25" British Borneo Petroleum

Consolidated Tha Smesters

40/06

Armeo Steel

OTO.

30%-

Armour

July/Aug

Oct/Nov.

27.20 23.40

Vaser &

$1.00

Fraser & Neave Ltd. T4%

Ded/fari.

24.80

cum, pret.

10:15

Egypám Kardak

Honchong_de_Shangna Branik-

Jan/Feb.

43.37

Hongkong Tin Lid:

SITE COTTAPPAN

Tyd

Boeing Airplane

BAO PAULU

Karque LaS.

tamas Hobber Estates IAS. Malayan Berles New Berandah

Burden (The), Ca,

$4.18

$3.50

Rubber. Co.

$1.97

Poleling _Tin 144.

18.30

28.10

23.05

29.40

Replaced

In an expanding universe ad- Even so, a highly prosperou justments are more easily made. 1956 will not necessarily mean when any sector becomes over- after the November extended it only has to wait a a deluge elections Sceptics and cyriles about American stability and little for the other sectors to

catch up prosperity have been constantly So "The previous alterations

confounded in recent years.

of "boom" and "burt" soom to If businesmen and consumers have been replaced by alterna- start worrying about a possible tions only of racing and pausing future deluge the prospoute will and even the pauses tend to be bo all the better for avoiding brief. The dunger and the die- one.

for governments has falty been over-considerico,

Coation would WH

and run

less

of their

Key basic ingredients going into butyl rubber danger of speculative excess in are petroleum derived, and oil companies are the shor among the leaders in the experimental race to aftomath in the long run. perfect this vulcanised rubber polymer.

Tide Turned

TIGHTER MONEY POSITION

Futures closings, in cruzeiros per kilo were as follows:

March

July

October

December

30.10

In the US the average price of 15/18 middling cotton at 14 designated spot markets was un- available today. Sales totalled 37,114 belea United Press.

London Foreign

Exchange

London, Jan 17.

2.80.11/18-2.80% 2.8.3/10-2.86% 10.01-10.812 139/70-139,731 10.3134-19.3

New York |Bfchitewat

Artateşdarn Bromle Coperdagen Frickdurt Man Pari Stockholm Zurich Others were unchanged.

11786-13754 1781-174175. 14.3319-14.53%

United Press.

Rifles Hotel

Bingapore Cold Bartagé Bouth Besties kwarktice

Ltd.!..

Straka Tradingt Otralia Steambo

United Engineers Ord. Weare Bros,

"Hadi Boeck

London Stock Prices Steady

London, Jan. 17. Prices on the London

Stock Exchange steadied today after opening,

Mort

industrials lossen

their early

Burtonghe Ada Mochime

Canadian Pacific R.

Case (J.1.) Co.

111

Pure Ou

Radio Corporation

Ropublie Steel

Reynolds Metal

Shell Co.

Baint Reg, Paper Sinclair Di

34 Socony Vacuum

2972 (South Porto Rico Sugar

67]:

Southern National Gen

2:3%

Southern Radburner (Com.)

441 Standard Brands

254

Standard Oil of

49

4953

Standard Oil

94

Standard Osi of N.J.

Sterling Drug Co.

100% Stokely-Van Camp

5011 | Studebaker-Puchuri Corp.

691 Bwift & Co.

50% Texas Co

10% The Water Arm. OR

14% | Twenty Century Fox Films

Union Carbide

514% unico Pacide Railway

156

14 United Alreraft

1.8. Line Co.

781% Warner Bros.

BA"" Weetinghouse Electric 2911 West Va. Pulp & Paper ****

Woolworth

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lower

From Articles of Association,

UTY

récovered shart

riding tendoticies and maintains fact that it both highly almost 210,000 million from the 1984 Oord Boore New York Foreign covering, with some finishing a

tyre carbon rubbers, its resistance to

Chicago, Jan. 17. A prototype of the now

Almost unnoticed the dollar already is in pilot-plant pro-oll is only fole, though it is

Banks are in a tighter money to the extremely reslilant most shortage has become thing of und road tests, duction

the past. In the part five years positions now than at any time Vince the bank holiday" .of Magazino noted, show it wears | comninonly destructive acids,

"Butyl's strongest point the the rest of the world has gained better than other types, has soft

First National City Bank of New executive vice-president of the York, said today.

-Me Moore

the eighth opened

New York, Jin. 17, National Credit Conference con- ducted by

the Credit Polley Engiant offesat pemariva

30-dar: TUTUTEM Commission of the American Buricers Association

the same air-holding tendendles flexible and highly resistant to United States and at least $2,000 that made butyl the number one oxidation-is inherent in the million of newly-mined gold, rubber for Inner tubus.

are

Most US rubber companies

nów doing some research

with butyl, the Magazine noted,

Research

nature of the polymer.

100 Applications

**While a commercial buty

The dollar tide, tumed at the beginning of 1961 and has stayed turned.

„Argentina,

Exchange

Normally, Britain would have

· Bankers, he mid have bees Urunday tyre may be at least one and got the lion's share of this huge!

lay down madre Other wore unatiangeLAPAKA -United Presa. possibly several years in the outpouring of dollers, but she forced

reasonable and realistid, condi "The Internalfled research pro-future, the research laboratories has not done, so

flors" for mounts and terms of, harve found

sacraerited gramme, is designed to eliminate already some dimaultles in the procent highly suliable for a growing There are reasons for sup karis, and to decline buli rubber before a commer member of applications in the posing that she may be about credit demands.

·Demand - deposits. the mechanical-goods, fabric coat to fare better in this respeck claf tyre, is developed"

electrical-instatallón Mesnwhile, the dollar reserves than the banking ind Magazine said.

of West Germany, France, Italy, cighitid, Mile oore fields "Becatter of its physical

Uses Joplin and indeed. Altment Aneury vinge deposityksen In an auto, these characteristics, butyl rubber will inelude more than 100 different country wicemok jane tale, not combine anally with other applications much

rubber, and It.. aloq, prévuesta abworbors, window nelle zadaw sothe special groblerna in ad-tor hose and foot pedal covers.

And, like most brydo United Prem

been doing remarkably, wakizidiowkencor pr The world wupply of dollars palload lodra

bit higher. A good earnings and dividend report boosted Wool worth Laid.

Most Inders felt the Printe Minister Eden's speech to MOTTOW

nốt, bring and new incentive into the market A £1 drop in Royal Dutc puced by ensler and active oll group. Billisfi Foirolour lost Is

Con shares favourejt the

Bet with downside

Rhodesien "Rodn Trust and

Exchange Rates Selection lower

Antilope the talgítent. “IČEBELAR

Gold shares Towt worde

welling

good earrings, repdetaliz Gerindia and Tipálcán Institu Held about unchanged with "dise"

United

Share Certificates to Letter Headings and the many other. essential items, consult the Printing Department of the South China Morning Post, Ltd.

Call in at any time

and examine specimens ‹ ‚' of quality printing which ww shall be proud to show you.

Make an appointment, Morning Post Building

Printing Capt.

Mr. R. Labram Wyndham Street,