1956-01-19 — Page 9

Page

TRADE

THE CHINA MAIL, THURSDAY, JANUARY 19, 1956.

COMMERCE SECTION

Chicago Grains Savings In Australia

Maintain

Average

Chicago, Jan. 18.

Grains averaged steady on the

Board of

Trade

today with support from activity in export quar- ters.

Wheat

nude anull

apite of selling brought on by

uvar

at

neports of additional scattered snowfall

purta Aouthwest Whiter wheat belt

Tract torvensis

last night

more malsture

30 hours.

Export

เ

during the pexti

Inkadest "

inrge quantity of barley

modernile more of на

Borghus a Westem Gemony and ahrge amount uf but ley!

email amount of Le Japan. A

Canutiian wheat anch burly ning were sold ja Japun, dealer's anid.

Brazil is scheduled

d)

the maket next week far more worth of US 18 million

and our nut Forme

no test 121

than

whent

hns indicateri

buying 1,500,000 bushels u US, soybeans in the near future,

Wheat

clared

unchanged to.

up to

up soybeans new

ocent

CLOSING PRICES Prices per bustief an ente Wheat, No. 2. red

עוט

DEVELOPMENT OPPORTUNITIES OFFER POSTWAR CHALLENGE

Sydney, Jan. 18.

The challenge of development opportunities in Australia,

to the drawn attention especially since the war, has

finance expanding investment, need for larger savings to both in public and in private ventures, according to the Australia and New Zealand Bank Survey.

Australia's high living standards enable her people to save a comparatively high proportion of income, but it remains inadequate to pay for all the projects which the out in the interests of economic community desires to carry

progress, social welfare and defence.

WORLD

RUBBER MARKETS

WH:

New York. Jam 18. Rubber futures closed today million,

indivi

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

Business done on the Hong-

Stock kony

Exchange chin incrming amounted to $200,000. Noon quotations and the morn- Me's transactiope:

BILARES BUYERU SELLERS SĄJES

BANKS

14 Borak .. 1700 1775 15 1700 1 1763

INSURANCES

Undon

190

Lombard

47

another

DOCKS, ETC. K. Whart Duck

TO

33 334

Providen: (0) 19.10 15.40 Wheelock it 30

Land, ETT.

HK Hotel HK Land

Houlty

BUBBER

2 93

300 33%

CANADIAN NEWSPRINT DEMAND

*Montreal, Jap: 18. Canada's nowsprint in- dustry

estimated flint World demand for Canadian newsprint would double in the next 25 years with ex- poris rising to 12,500,000 tons a year by 1960.

The industry also pre- dicted that the Canadian palp and paper industry, at present capitallerat at 2,000 million dollars

(about 2714 million sterling). would have to spend 4,600 million dollars (about 21,428 mulion sterling) during that time to meet the kuotesse in consump-

lon,China Mail Special.

US COTTON

FUTURES

UP & DOWN

New York, Jan. 18. Cotton futures today

New York Trading Slowest

For Two Months

New York, Jan, 18.

The stock market suffered today in competition with an as yet unlisted issue- shares of the giant Ford Company, offered publicly today for the first time.

Trading idled at the slowest pace in more than two months through most of the session with prices narrow and mixed while the financial community centred its attention on the over-the-counter markets

where a lively when-delivered trade in

Ford took place.

Investors lucky

enough

to

Hayden Chemical Lenol-Band_....

have garnered a chunit of the

Inland Steel Co. 10,200,000-share offering at the Interchemical Corp. Initial sate price of £64.50 found Int'l Business Machines

Int Harvester themselves with

of a prof!

International Nickel dollars a share before International Paper overal even taking title. Over-the-Int'l Tel & Tel counter

the Jahn-Manville Co. activity pushed

1.40 3000 A

17.20 1735

1.15

500 & 11.30

dz 03

300

y

2

5000 @ 1.37

bobbed up and down the price ladder, covering

price

quick

up over $70 a share before

realising-much

of it

567

A. Rubber. 100 1,973 UTILITIES

Star Ferry

<

exchanges latest stuck The Government's

of investment, While Paper on National Income: major category

into which savings are directed. and Expture showed that in

A.N.Z. million

Bank's tab of Stock was 1954-55

L' A833

Exchange New Listings shows Invested on behall of the Aus-

that in 1984-85 2A88 million of Aralian population, representing

utional 17% of the gross

company securities were added pre- million. A

to the Oefal List of one or A4.832 duct sif

ex- other of the Australian large part of this investment personal derived

changes. from for

total out of

In addition to quoted securi- Theom

LAJ,833 n[

125 tisany mure

CA300 ties, large issues of deposits and

Yaumati Verty 106 107 debentures arc being made,

Light (0) 22.20 231 C. LM IN) 10.00 million which are not granted quotation

Electrle A large

433 433 an stock exchangos,

32.75 aggregate is outstanding all the time, although it includes short- which are borrowings term constantly being refinanced

lines of securities the various Avenues through which Aus The spot market ruled quiet

The relatively highTORES, ETC. mature. lude savings with factory and trade interest trainns

At the end of September rates of interest offered on these negligible. Sinull sales between banks,

Bast, these institutions had de-loans Indicate the profitable re- driers included January

of £ A1.083 nillion in turns available,

especially in sheets nt 40 cents and March posits

operative the hire purchase sphere, 7,000,000 four sheels 31 37% cents with nearly Further

sellers. Shlumentaceotuite. offertugs were reported above a workable basis

Futures were

16. in 50 points lower with sales multion wos saved by of 290 contracts,

duals. incluating AIR Several attempts to stage through assurance funds

renewed selling Faily Through Wall Street houses uni

2+3

Mai

2001 2019

Ma

200

100+

mdkon

Sept

Nov

202+

atteries

Corn, No. 2

yellow

Spol

120

Mar

121-127)

Min

Jul

IM

Best

Nov

1.3

Rye

Маг

120'

M12v Oats

1th-

th

MOLE

May

Soybean, No. 2, yellow

Stul

Aur

May Julk

Sept

Barley

New York for

200 12

wck

mel

cum- hedge

DIVC

40 1341 00

37 05

1.10

3420

Channels of Saving

Ve

br.

Other Investments

Considerable differences tween States are shown in the umount of savings deposits per

The above-mentioned direc- Thus in head of population,

tions of investment include only South Australia at September.

those well known to the public. 1055. the average was about

vast Behind the scenes is a LA182, followed by £A146 in

business of Ananging private Victoriu LA118 in Tasmania, and 2A103

South companies, partnerships and sole 1 New

truders, Australian truc Wales. Wester The market was steady On

were COM- of money include deposits botter New York advices

average

* A83 per such as life companies, building grades paratively low at for lower

societies, provident and superan good demandi

head of population.

funds as well as and nearby one sheei.

The facts that the various nuation

individuals, solicitors Future closings were:

States of Austrujin show such private No rubber ter ih Feb

March

N

24310

July

243

Septraukin

Devensber

24

24009

1341 14011

$10 San

bed *ગ

Singapore Stock Market

Singapore, Jan Brokers today quoted following stock prices

Batu Lintang Bubber Co

Smelters Ord.

SINGAPORE

Mar

No 2 mibber ser ib Feb. No 3

No 4

Spot rubber unbajed Blanket crepe

Ho pale crepe

and

and the fruitful sources matitutions

18-19 differences in average deposits and other trustee lenders,

May unqu

112-1123 100-100 114-11442 14-06 12415-1205

LONDON

The marke! was quiet but steady with spot quoted at 32%

Prices: per lb.

term Settlement hour

10

the

Jan 18 Opening

L

Consolidated T

Eriti Borne. Petruimtam

Byndicate

Fol

441.

Mun

Apr11/June

507-

July/Sept.

Fraser & Neave Lad Ont

$1 BU

Oct/Dee

Fraser & Neave

15%

$5 83

Jan

Feb

Banking Corp

$34

Mar

Hongkong Tin Ltd.

3 Bd

Kempas Ltd. ....

$2.09

Lunas Hubber Estates Lid

$4.13

Malayan Breweries

EX DU

New Serandah Rubber

Co, Lid

cum. prof.

Hongkong Shanghat

Petaling Tin Ltd.

Raffes Hotel

Singapore

Cold Storage

South British

Insurance Co. Ltd. Atralte Trading.... Strails Steamship United Engineer Ord. Waarno Brum, a

General markets, cli

33-33

per head, and that some States have only one savings bank. suggest that there is scope for further competition and service in this field,

Total Deposits

Bank

advances

do not

2A896 million in Australia.

Telephone

a range of 50 points from abroad-cut the quote to $2.50

Kansas C. Power & Light"

Kennecott Cupper

Lizett Meyers” Tob.

Lockheed Aircraft Loews Incorp.

Lonk Star Cement Co. Lowenstein & Sons.

4/4 bid, $684, asked. a bale in another

Once the Ford stock steadied,

Mesabi Iron Corp. increased attention day of general trading,

to the rest Minnesota Minist Traders strove to

the adjust of

list found the picture Mission Development market positions in the wake of "sloppy" and a heavy rush of Monganto Chemical

sleep decline, ob selling slushed prices a point to Tuesday's

sald.

ol Most

the more than 3 pointe in servers action

crowded into the leaders. Wis

000 33 30033

INDUSTRIALS

Comment

old

30 30.78 2000 or 3035

Rope

Trairy

Watson

Sinceres

18.70 10 13.20 3.40 500 a 13.20 1000 1.00

COTTONS

Textile Corp. 0.50 0.55 Nanyang

7.00

... 0.70

MISCELLANEOUS

Yangtze Allied

9.45

Prediction

the

down seven

the

of the 12 sessions year--on hesitancy

Mootgomery Ward

Motorola Inc.

National Cash Bag. National Dairy Prod. National Distiklera National Lead

National Steel Corp. New York Central

Glam

crop months,

Chief. Blame New crop

deliveries showed as dealers, relative steadiness

Commentators awaited

generally and

put Olin Mathieso traders,

Os Elevators other

the chipt blame for the market Owen-inoi developments on congressional

performance-It has come Pacific Gas & Elec. poor form legislation.

Pacife Weelern Oil Pan American Aleways Uppermost question

Paramount Pictures mind of unders was possible so far this

on a bill pending President Eisenhower's Parke Davis Co. White House action

Penny 2. C. Co. which

buyers of decision whether or not to run would allow

Penn. Salt Co. Philips Potroleum of the

government for re-election. cotton out

Of a total 1,178 issues traded Procter & Gamble Co. surplus stock to subsitute hold-

712

were lower, 229 higher or Pittsburgh Plate Glass

Publicker Industries ings from private stocks

the day. Industrials

were Pure Oll filling expert and other com-

down 4.84 points on average, | Radio Corporation initments.

raits

while utiles Republic Stool

Reynolds Motal managed a gain of 0.03 point. shell Ou Co.....

UNEASINESS Uneasiness grew out of tho

1.85

On Rubber idea that such a situation could prices were at the lowest levels Sam RegPaper

-Prices

result in more bw-grade cotton being tendered on the contract farm state markel. Meanwhile senators voiced angry disappro- val of an Administration pro- posal to sell quantities of gav crament-owned

commodities at

2,100,000

November 10.

totalled Turnover shares.

Steela

were hard hit, with Bothichem down more than 2.

Chrysler eased nearly a point and General Motors, the day's

A leading commodity reduced pricey to help finance/most active isque, dipped

The other methods of financeclines. mentioned, being of varied types

A statement by Bache and Co. and flexible enough to meet a noted that the price weakness over fears The gathering together of a

great range of conditions, prob developed largely large volume of small savings ably provide very much greater that rubber demand would not the into significant aggregatos cup

suma although there is no way be maintained in view of become a very important service of measuring the total.

smaller anticipated production in the United community. to the Australian

The funds of the savings of automobiles enables small de- 2012-2011 1103 only

positors to put their money to banks constitute a special case States and Great Britain. Sell- work to return interest for their as they are usually directed to-ing has been heavy at Singapore

housing loans own benalt but it mobilisen ward

Individuals and to

32-323

bards, port

323-33

Entate crepe ail unquoted,

AMSTERDAM

IL

The

foil

Du Pont slumped more than

and Boeing 3. Douglas bank the

programme.

Cotton Ex-more than 2 each in aircrafts. New York The

New York Stock change Service Bureau today

American Stock Exchange

Exchange

volume was 720,000 shares. Closing Prices

Baldwin-Lim-Ham.

110

170

New York, Jan. 18,

here pro- constitute u sound and suitable brokerage firm

that rubber medium of lending for all pur-dicted today poser but they now total prices should stabilise fol-

lowing recent sharp de-estimated domestic consumption bond volume was $4,010,000,

of all raw cotton in the five- week period, ended Dec. 31 at This compared 850,000 bales, with 801,000 bales usext in the

Aiden, inc. Acy. corresponding period last year,

Allod înc. Consumption for the 22-week Cherul cala period unded Dec. 31, approx!- Ale Mix

American Cyanamide Co. muted 3,021,000 bales against American Airline

carlier

Am Mach X Plry, The certificated stock was Un-American Matal

American Smelting 3,097,099 bales a year changed at 18,480. balks, for and in London.

rally the list American. Tel de Tel Closing on

American Tob. "B ΟΙ Joons

New Inventories anished net 38 points higher to Amepnda Copper the finance for more community government and local govern- Bache said that US tyre pro- one point lower. Opening prices Armas Steel projects of high priority.

ment bodies. These fields are ducion is reported at 116,000,- were off to up 18 points. Now aw-1 Total savings deposits have

that they of such importance

compared with Oricans closed up is to of 7 Baltimore & Obio shown considerable growth in

Increased 1000 for 1955,

in -1054. But the points. cer

Thus from June could employ recent years,

Volume and 1951 to July 1855, total deposits with

supply of funds very readily and 92,205,000

makers beneДt

acided, to the agency grent

that 1057 were: A837 million to community,

haye announced rose from

hnve a tyre models will £A1,081 million, the

ww £A133

Amal}

diameter with per account rising from

treats. This innovation, to £A157, and the average per population

cording to Bache, will require bend of Australia's

development of new inveZF- growing from £100 to £ALB

rapid

Business was done in the locatories of the revised lines, thia market

"Supplies of rubber are exchange morning at the following rates: now equivalent to nearly 30% US dollar (per (1) of the nation's annual personal Berling notes (per ell

(per 1001 incomes a substantial sest egg Australian notes per 21)

Indonesian rupiah meet avaliable

personalam tical (per 1001 The increase in Singapore (krata) 80-18/10į exigencies.

savings deposito over the year to July 1953 comprised more thom one-nfth of the community's personal sayings in that perfod.

Public Investment

The market was quiet. Prices closed today its guilders per kilo- gram, rif Feb. as follows:

$1.00

No rubber

No 2 rubber

$27.50

No. 3 rubber

NoerenH

$59.00

China Mati Special

London Foreign

Exchange

New York Montreal Amsterdamı Brussels Frankfurt

Milan

Stockholm

Zurich

Other were

PTORS.

London, Jan, 10.

2.00-1/16-260 2,0014-230-7/10 10.027-10.03

12901727

1700-178341 14533-1433)

9.23 paid 320 buyer 3.10 buyers 3.50 nom. United Press

in spite of the

average

rice in

New York Foreign population during this period.

Exchange

New York, Jan. 18.

Canada England afetal

unofficial

Australia

30-day futures DO-day Futures

New Zealand South Africa Holland

unchanged-United Argentine

Ford Stock

2.02-2.04 1.80-7/10

2.7934 0.241

2

2018

.GAUG

281-3/10

United Press.

Offer

Enlivens

London

The

Market

London, Jan. 18.

Exchange Rates

Savings bank deposits Breunofficial

Other

Lo

the

indications of growth of savings are available in the statistics of new issues in

and public companica, government

ent and semi-governi- ment loans which absorb much

of the nation's savings.

These

are reflected in the new listings

of the rolovant securities on the

Block exchanges.

For

Annual

example, the 1964-56

of The Stock Report

reachey! the Ontolat Last during

the

auto

open

Bendix Aviation Corp Benguet Cons.

interest Bethlehem Stee! Boeing Airplane

Volume Open interest | Borden (The) Co.

Canadian Pacific R.

Chrysler Motors

| Colgate-Palmolive Co.

Commercial Credit

ct Month

wider

Mar.

$8,400

522.400

Burroughs Add Machine

May

110,400 197,400.

ac-

July

70,300

201803

Oct.

225,100

190.100

C. I. loancial Corp.

DIC.

15,300

11,000

Cat. Tractor

Mor

8,000

03,000

Celanese Corp.

ស

5,200

29.300

Chase Manhat. Bank

July CX-

2.600

£480

6.88

45.40

14.60

tion were United Press.

pected to continue tight for the first half of 1956. Last year, 1210 world consumption and produc- as follows:

In close balance.--

208,300 1,573,100 boles

NEW YORK

Spol

Mar

May

July

Oct

Dee

bizt.

May

July

US Iron And Steel

Industry Expects

15M-Ton Boost

New York, Jan. 18,

Prices of futures closed today

34.90

J

30.60-60

303-45

3032

NEW ORLEANS Prices of futures closed today

as follows:

Spat

Mar

May

July

Oct.

Veg

Mar

May

Jak.

LIVERPOOL

3342-43

1

Futuro closings, in pencp per

lb, were as follows:

Old contact

Mar/Apr

May/June SES/ANK Now contact

Det/Nov.

Dec/Jan

23.25

22.08

Keyptian Karnak. Jati, Feb.

SAO PAULO "Future closings, in crizeiros

March

pro versorgi

of maturing This expectation is based on a survey of US becurities and Ala1 million iron and steel industry expansion plans made by

In the semi-spvernment field, the American Iron and Steel Institute of which y considerable amounts are raised Mr Fairless is President. by private arrangements with underwriters, through lifo com-

Detober

July December

Faced with unprecedented demands, the Exchange of Melbourne shows nation's iron and steel industry is expected to that four Commonwealth Loans boost production by a 15,000,000 tons within the Interest in the launching of Ford Motor Co. the your to September 30 last, next three years, Mr Benjamin F. Fairless said

These aggregated £A870 million, stock enlivened today's session of the London Ex-of which 4240 million was today.

the conversion change, but dealings in the American company's

wia new `money", shares tended to follow Wall Street's pattern.

stock opened at the mean a heavy over-subscription

In the US the avereE American equivalent le #71.87, of the available London ration

The former chairman of US In pointing up the impact on of 14/10, middling cotiqu then dipped blt While with a resultant Scaling down

tolg) interest in American Ford was in netual allotments to insiliu panies and savings banks, but Steel doen. thats these hold steel of a growing population, designated spot markets today:

many of the large buds are expansion plan win boost steel which is expected to reacts 34,00 cents Eples high, there was no great rushions and individual investor,

listing,gan oilar to 15 millones en 2014 the gorgespits 10,800 bela ARACHI to buy, and the price eased. later in the session. Allocu Britain's Ford Motors, Ltd, The retourne now Hatings in presenting a rise of more than at the per empita use of steel

refold during Tho market relapsed to United

Kingdom found itself in the limelight and this category for 1984-85 were 40 per cent. In capacity slice har ipprenseyði

RA38 million, of which the the end of World Warka 1939. thi "century, Today life swing, to share in were unknown, butal gained more than two shillings)

Industrials were unfargon horrowers were the cost of over $7,000,000,000,

amily of four in the UBI York, Liverpool

about three ton. Lo ot to tole was believed to be Hut other

Local socialainen. about 150,000 shares out of the changed or down a few pence State Electrially Commission br

· Jistro»! Victoria akikidod: rienášky

Mr Waites paid builons of meel making capacity d years aged in rupeek a 1. Gerago, dz ['dollten will be involved. Ing 10,300,000 staro total.

palian) Water Drainage Bourd, the Melbourne also con Think Aaraapelian: necor Works now tho and The Brisbane Cis

gbedription

Britli Oxygen two shillings.

Ola were quiet, Royal Dutch amorally agreed festired with a wineol & Bute that tippllections for the stock

beon: mzibiajyenbugh to tỉnited Press.

the

Publio fundarálitri)") by panies of all tyongileek.on

Commonwealth Elec. Consolidated Edison Continental Oll of Del. Configenta) Stati

Com Products Crane Co........ Crown Zellerbech Cuban Amer. Bugar Curtis Wright Diamond Alkali Dow Chemicals Dupont de Nemours Eastman Kodak

FAME Nañon

Gus

Erin Ballroad vide Family Finance Corp. General Electric-

Genel Foods

General Motory `Gen. Pub, TN.

Gillette Safety Razer Glidden Op.

Goodrich (BF) Co.

· Goodyear Tire

Sinclair Oil Socopy Vacuum South Porto Rico Sugar Southern National Gos

(Com Southern Railway Standard Brands Standard Oil of Chi. Standard Oll of Ind. Standard Dil of N.7. Sterling Drug Co. Stokely-Ven Comp Studebaker-Packard Swift & Co. Texas Co.

Tide Water Asm. Oli Twenty Century Fox Film Union Carbide

union Faciße Railway United Aircraft 1.9. Gypsum

V. 5. Line Co.

UA. Rubber

V.9. Smelting U.A. Steel Warner Bros. Westinghouse

Eléctric

West Va. Pulp & Paper Woolworth

United Press.

New York Sugar Market

New York, Jan., 18..

World No. 4 sugar futures

1 to 8 point-

of 150 con-

closed today

higher with sales

tricts.

The domestic No. 6. sugar futures closed 1 to 3 poinla

5 higher with sales of 240′′ con-'.

tracts.

001

World and domestic markets were moderately active and firm in line with the raw situation.

Dealers reported the sate by an operator yesterday of 5,000 tons of Cubans to Europe for March-April, shipment at 3.28 cents

a pound, fob. Futures were;

Contrapi No. 4 (woyfd)

Marcht

May

July

September

October

Spot (cents per lb, tob Cuba)

04 March

May July

September November Spot

Contrast No. 6

teenis ipor

5.40

-Unijad · ProKU.

Die Stamping

The South China Morning Post Printing. Department

is equipped

die-stamping facilities.

'moder'

REGIMENTAL, SOCIETY and CLUB

CRESTS & EMBLEMS, Į

TRADE MARKS, A

DEFAMILY COATS OF ARMS,

and: MONOGRAMS.

etc., etc.

Call and inspect our samples

Orders accepted for Steel Dies

and Copper Plates.

Ring 20002 --ask, for

SOUTH CHINA MORNING

OST. LTD

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