1956-01-25 — Page 7

THE CHINA MAIL, WEDNESDAY, JANUARY 25, 1956.

TRADE and

COMMERCE

SECTION

Page

Prosperous Scots Seaweed HONGKONG New York Stocks

Industry

Plans For Expansion Of Potentially

Limitless Harvest

While

By Vaughan Jones

PT's Barter Trade GATT Delegations

With Iran

Manik, Jan. 24. The Foreign

Office Ima Instructed Ambassador to Britain Maria Guerrero

requept the Iranian roverument to extend the period within whick: Japan mhay buy Trastlam rice for barter with Philippine "D" sugar, it was learned today.

In

Glasgow, Jan. 24. Englishmen argued

about

20,000 rben.

government prospects of halting inflation, Saw unexpected prosperity along

Scots

their rocky western coasts.

The new industry enriching the Scots is seaweed thrown up by the heavy Atlantic waves. Since the harvest is

potentially limitless there are big plans

for expansion.

This Scottish success story is

compositio

mud possible uses,

uniainted by government alt. than scientists knew about any

I sprank from the broken, land plant.

hopes of poor crofters whe

Moreover. they were aded

turned for their living from by research workers in foreign sour land to the sea,

countries who exchanged newly-

There crafters .vel alamt the ! ɑreovered information. rocky, bruken western cusst and

The

Institute

passed on its in the surf-lashed Hebrides and discoveries to

to anybody interest. Orkney Islands Over theed, including commercial Arms

years they saw that the few anxious to exploit the seu. sheep which rouid nibble Hiving from the heather-covered

slopes earned shillings Instead of pounds,

Hazardous

were

W

The Institute's also

developed

senweed harvesting machine It was made in different sizes, the cost

£4,000 making

The £12.000

small could be operated from a verted shing vessel.

technicians

#

to model to

Eve71 the sale of homespu cloths, manufactured by hump- light in the long evenings at home in the

cottages, WOA hazardous business, Su the Oshing ventures. for the fishermen

could find no ready market for their estehes,

They collected the strands at low tide, dried of seaweed them over long banks of stones. And burnt them lo extruct Lorine and other chemicals.

But their toll, often in bitter weather

the wind-swept brought them in little shores, moncy They abandoned it as long back as fifty years ago, and leys the SOLDIE men believing

these

cablegram Vice- President and Foreign Stertiary Carlos P. Garcia told Mr Guerrero to give Japan

up to March 31 within which la puretune tom of Iranian

way understood that under present arrangement Japan kad to dreide buying the creed until the of this month. Japan gave the Philippines until January 31 to neerpl it citer of franian rice in exchange for 20,000 metrie tons of "D" sugar-United Prem

end

LONDON

on

STOCKS IRREGULAR

London, Jan. 24. Scattered rallies failed keep momentum and con- stocks closed irregular on [the London Exchange to- year, using machines,

three Arms, crofters day. การ

Ashermen gathered in be- Iween them 40,000 tons.

The harvest was purcessed in the a number of new factories along coast The products, besides

to the home Loing market, were exported to about thirty foreign countrica,

Congratulated

Because of This SUCCESS, number of there countries are asking about

the Institute's work Canada and

British government stocks and is fentured on the strong side. The "gilla" advanced on a mid- day rally and held gains ranging

two shillings to much as seven for Old Consuls.

bom about

Must

Own

Guard Secret Lists

Génova, Jan. 24.

Top item on the agenda when the heads of international trade delegations met here last week was "Security."

Keeping secret the lists of products on which they are prepared to bargain for tariff concessions is the biggest headache for the 27 member nations of the General Agreement on Tariffs and Trade assembled here.

At the first meeting of GATT in 1947, one complete section of the £2,000,000 Paluds dea Nations here was cordoned off and policed by security guards.

At Inter "rounds" of tarlit talks in Annecy (France) and Torquay (Britain), complete hotels were taken

"protected."

But this Lime

different.

the Palais

delegations

and

Bro

over

things

The In

No single section of

is available.

scattered arc

הנוגאין

nn

scores of

severul different doors as well as in a big hotel downtown.

Blame Themselves

Faced with this problem the GATT secretariat has thrown in its hand.

"We are giving each delegate and official entitled to attend the talks a badge and identity They will not be admitted. But beyond that we cannot go," GATT official.

card, without which

were

sald

Chicago Grains

Make

Slight Gains

Chicago, Jan. 24. Most grains inched up slightly on the Board of Trade today with demand spurred by the drive by BOLTRO Congressmen for high rigid price supports on crops.

The buying was counteracted to some extent by favourable crop reports from the winter wheat

belt ind by the D.D-

that nouncement

stocks wheat, corn, oats and barley in the country as of January 1, reached record highs.

of

|

STOCK EXCHANGE

(From Our Correspondent)

Business done on the Hong- kon Stock Exchange this morning amounted to $470,000,

Best Since Mid-November

New York, Jan. 24. Stocks turned in their best per- Noon quotations and the morn-formance since mid-November today in a SHARES BUYERS SELLERS SALES sharp reversal of the decline which had slashed prices sharply since the first of the

ings transactions:

DANKS

HK Bank

INSURANCES

Unton

SHIPPING

Waterboat

DOCKS, ETC.

K, Whart

Dock

1700

24

00 321% 83.75

70

year.

Individual stocks in all major groups

Provident (0) 13.10 16.30 500 1.10 gained a point to more than four points in

Wheelock

LAND, ETC. HK Hotel

HK Lan UTILITIES

Tmm

(10)

Star Ferry

Yaumau Ferry

1000 de 15.10

600 25.10

the rise today. 500 18.20

200 66 13.20

200 18.20

0.33 6.45 500 1000 1000

17.20 17.40 800

Industrial Phares

went

up Eric Railroad .. 3.40 5.53 points on average, the best Family Fance Corp. 9.35

since November 14, and Generni Foods 3.40 Kain

General Elecirte in their General Motors

litles added 0.37

11.20best move since mid-November, Gen. Pub, Util.

500 17.10

300 17.20 st year.

02 0215 1700 ** 03.

153

Gillette Safety Razor didden Co.

Goodrielt (B. F.) Co. Goodyear Tire

and 173eyden Chemical

Homslake Mining Co. Ingersoll-Rand

Inland Steel Co.

Of a total 1,102 issues traded

advanced 24.20 24.30 1000 24.200day, 788

0002430 declined.

This narrowing

o stackening in activity to

were the chief International Paper

103 100

C. h (0) 22.10.

C. Light (N)

Electric

0.40 0.00

end

of the list, Interchemical Corp

But Business Machines Int Harvester

Int'l Tol & Tel

Tot-Manvilla Co

Kansas C. Power & Light", Kennecott Copper

Men Elec (0) 1700 432,100,000 shares from 2,720,000 International Nickel

yesterday. (N) 8.20

dampers. 33 33 1200 x 33

1000 331

Steels shares 301 311⁄2 700 * 301⁄2 lenders and a

number of in.. dividus features responded to 16.70 18.00 1000 @ 18,20 favourable corporate develop- 13.10

incats.

STORES, ETC.

Telephone INDUSTRIALS

Cement

..

Rep

Dairy

Wation

COTTONS

Nanyang

Yangtaxe

Textile Corp, 61% 0.50

Allied H.K. & FE

Kirvest

798

8% 0.00

11.00 11.70

400 or 31.60 600 @ 11,70

Oil

Kuwait

Expansion Plans

London, Jan. 24. Kuwait Oil Co.today an-

warned of the risks they might Dealers also received word its refinery

were

Oils Gain

strong

Carpenter Steel was helped by

1 100

per cent stock dividend and extra declaration,

In

Oils had gains ranging from a

to nearly point

3 points Jersty Standard, Standard of California, Texas Co., ninong others,

Liggell Mayers Tob. Co Lockheed Aircraft

Loews Incorp,

Lone Star Cement Co. Louisville & Nashylite R. Loewenstein à Bons, Mesabi fron Corp. Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Inc. National Ceah Neg. National Dairy Prod. Nallerial Distillera National Lead... National Steel Corp. New York Centrai Oils Matheson Otis Elevators

Owen-Illinois Class Pacino Gas & Elec. Pan American Airways

Coppers were in demand with Paramount Pictures

Co. Kennecott up 3.

New York Stock Exchange bond volume was $4,730,000.

American Stock Exchange volume was 850,000 shares.

Dow-Jones closing

were:

30 industrials

at

10 l

Al 15 ulites

bonds

65 #LUCKS

Parka Davis

Penny J. C. Co.

Perin, Balt Co. Philip Morris Philips Potroleum Procter & Gamble Co. Pittsburgh Pinte Glam Publicker industrica

averages! Pure Oil

407.8

12.01.

20

160.24

26.82

150.59

168.10

403.20

Closing Prices

Comm. future price index Comm. apot prive index Moody's index

"It is now up to ench delegation to guard Its Own secrets. if anything goes astray they

will have to blame them-

Export business was słow. sor the United but Japan is scheduled to buy selves, Bot us Nations authorities."

of US and (mount --large At the opening meeting all Canadian

wheat and baricynounced plans 'for a major delegations

solemnly tomorrow,

expansion programme

in Mina Ahmadi, Kuwait, which will increase capacity from 30,000 barrels to 190,000 barrels per stream day.

The programme includes the construction of two atmospheric crude distillation units with 1 capacity of 30,000 barrels Alden Inc. Acy. stream day. oli siurage tanks. Alle Mills Tra. necessary equipment for in- creasing

power, steam water American Airline

American Cyanamide Co. and modifien- An. Mach, & dry supply facilities, tions to the existing oll toading American Metal system.

inoved

at the run thead

by leaving confidential that

crude soybean oil traded opening, led by Royal Dutch, documents lying about.-Lon- In fair volume at 11% cents a which closed nearly 1 higher. den Express Service.

et

today, the pound Shell

Dectaur British Transport und

best level since las: July, and Petrohum were other gainers,

reiners continued to be in the market for additional supplies. Tho demand

associated with pending expert sales to Spain, Greece, Bolivia Columbia. Wheat

13ut

GOLDS QUIET

up similar centres themselves.

number of industrials And Scols are congratulating cased

when buying support that the kelp industry was pro-themselves that they have a cruy

Iniked

inaterialise. 5 me ftless

that never needi plantings, even leaders, like Imperial Chemical though it takes three years to and Courtaulds, kept their

Express Ser-gains, but steel and department|

isture shares weakened.

Then cume the war und its shortages, and the scientists recalled the miliona of tons of açaweed un Scotland's shores

richer caweed thun anywhere cisc

which

crups

BTOW

around the British Isles.

Research

In 1944, when Hitler's & boats

to

mature.-London

vice.

London Foreign Exchange

were still sinking Allied vessels, Now York they set up a research organism

Montreal sation

discover everything | Brusse in they could about harvesting and rankfurt

Milan using this vast crop.

Parts Based at Inveresk, the Bockholm Institute of Seaweed Research, Zurich

Others Pres

as it was later called was run by an independent board under the chairmanship of Lord Blisland

But it undertook its new task like a military operation

Surveyors mapped out about 4,250 mies of coast-line. Royal Air Force planes took about 10,000 stereoscopic photographs for Interpretation by experts. Scientists examini

less than 100,000 samples of weed nem differtat parts of the cast. When the Institute had co- ordinated all their findings they concluded:

no

16 Tons To Acre About 10,000,000 million tons Dí seaweed wêre available, including both the red and brown varieties.

were

London, Jan. 23.

1280

2.00 3/14

2.50 11/10

130 2715-130,70 11.731-11.73)L 1754-1755

DES-983 1 12.24-14544 12.2474-12.201

unchanged. United

nod

WORLD RUBBER MARKETS

Rubber unbated

In foreign bonds, German No. 3 Dawes Loin was a bright spot with a good fractional gain. and other lens were Japanese

Blanket crepe

Wis

and

closed unchanged to off a cent; soybeans nữw

lo 2 centa

130)

up

CLOSING PRICES Singapore, Jan. 24. Prices per bushel in centa: Gold shares

were masti y

The rubber market war un- Wheat, No. 2, red quiet after a strong opening, certain and somewhat irregular Spot retreated from the day's on various conflicting rumours. [highs. Orange

Sute Future closings were: Free | sbus found good buying sup-No. 1 rubber ptr 18. Frb. 1083-1084

port. Coppers

Mar. 107-108. were Arm, but

Apr. unquoted other metals were trendless.

No. 2 rubber per ib. Feb. 10745-108

No. 4

Mar. 2105 (11) 20916 (17)

Mny July Sept

213140 2003-

20216-3

Nov

2001%

Corn, No, yellow

107-107 1/3

Epot Mar. 104-105 108-109 May 94-06

12034

July

No. 1 pale crepe

1101-1201 Sept

LONDON

Nev.

were mixed.-—.

The market was quiet with spot quoted at 31% práce per lb, Prices;

Пус

Mnr.

MAY

Oale

No. 1 Rm spot

314-314,

Bettlerpent house term:

Mer. Mos

0476

DEX

March

April

April/June

30%-50%

July/September

291-291

Spot Зал.

314-31 Soybeans, No. 2, yellow 21-3444

26314 24414-210

281-28 Mar.

24814-1

24734

February

March

311-31% July 31-5114 Sept

Barley, Spot

201

217

130-1401

quiet.

Doller stocks United Press.

Canadian Cotton

Textile Industry

Montreal, Jan. 24.

Canada's cotton textile industry has spent

the past $134,000,000 in

10 years in modernisation

programme designed to fight foreign competition, Mr H. Roy Crübtree, President of the Cotton Institute of Canada, saidį last night.

Mr Crabtree said in his, Mar. annual report to the Institute Max July investment Tutai that some of the were

had paid off, but he added:

"While some optimism about averaging about 16 tons to the the progress and future of the acre.

Some 4,000,000

centration, with

tona growing in commercial

the

con- crop

New York, Jan. 24.

This Thcluded the industry is justified on the basis today as follows:

1050. between

of performance during tho tido levels as well that inch optimism must be temper

11.3 There for the ed with

no long picking between low and high foreign producers quickly

Large

of quantiles material into Canada ond dis-

snaweed

shallow weter.

water was 180,000 tons.

rame

an

πόνο

coulion

can

1m-

As seaweed takes three years pose of it hero at prices to mature, this ensured annual harvest of well over possible for Canadian producers

to meet." 1,000,000 tons.

Me Crabtree, general man- At tho

time othen jager of Woods Manufacturingi research workers were discover-Co., Ltd, blamed the Federal ingali they could

about government's tarif policies and Derwood!

"conditions existing in other The Investigated the ite markets as the biggest draw- histories of different species hacks: to the Canadian of

location, quantity and duality's access. He said: both chemical composition They continue to seriously affect the tried out new. harvesting earning power of an Industry methods by hand and machine, operating in the email Canadian

in their Tiboratories they markets - United Prest, ~ examined

processing WORLD PRICES methods studied è by products.

and

*

new

residues. And looked into

00,200

33,200

100

3.200

41,500

1,851,000 bates

NEW YORK

Prices of cotton futures closed

Spot

23.350

Mar

31:48

May

33.83

July

32.03

DOL

30.90

Doc.

30.70

Mar

30.88

May

30.58

FW ORLEANS

NEW Prices of, fututes closed today as follows:

Spot

May

30.00

5625

July

··51034-08

October/December

General markets, cif basis, ports: May

Estate crepe arquated.

AMSTERDAM

200 lb. sack

The market was very quiet, New York four Prices closed today in guilders рет kdiogram, cif Feb.

follows:

No. 1 rubber

No. 3 rubber

No. 3 rubber

No. 1 crepe

Sp

$13.00m WINNIPEG PRICES

Winnipeg, Jas. 24. Prices of grain futures closed 3.08 *. today in cents per bushel as

3.10 nom,

3.08 nom. 3.40 Dom, The New York rubber prices were unavailable,

follows:

Onts

MAT

July

-Ungled. Pres.

Oct.

Ryo

May July Ort.

New York Sugar Be

Market

New York, Jane 24. World No.. 4 sugar futures closed today unchanged to 2 points higher with sales of 5 contracts.

The domestic No. 8. contract closed unchanged to 3 points lower

with sales of 55 con- tractsk

Mixed dealings between re

11

May July Oct. Flaxseed

Mar

July Det.

Construction

subject to confirmation.

Allied Chemicals

Allis Chalmers

Radio Corporation Republic Steel Reynolds Metal Shell Oll Co.

Saint Rog. Paper Sinclair OU

Bocony Vacuum

South Porto Rico Sugar Southern National Gas

Southern Railway (Com.) Standard Brandi Standard Oil of Cal Standard Oil of Ind

Standard Oli of N.J. Sterling Drug Co. Biokely Van Comp.

12114 Studebaker-Packard Corp.

Swift & Co, Тежда Со.

100

60

2319

Tide Water Azm. Olt Twenty Century Fox Film Union Carbide

Union Pacine Railway

| United Aircraft

U.S. Lino CD,

25

581

American melting

Am. Sugar Bet.

93

American Tel & Tol.

100****

U.S. Rubber

лет

American Tob.

EDI

U.S. Emelting

Anaconda Copper

U.B. Steel

begin In

the

Armen Steel

Armour

Construction cf the

factilles wil

Baldwin-ma-Ham,

zecond half of 1950 on a Bite

to the existing re- Baltimore & Ohio adjoining

inery. Completion is expected Bendix Aviation Corp.

inte in 1937.

Benguet Cons

Alplane

The company said the expan-Bethlehem Steel sion will enable it to produce Borden (The) Co.

grouter

middic quentitles of distilates, marhic diesel abci including

residual

fuel oil. bunker fuel oil for tankers load- ing at Kuwait.

Kuwait Oll Co. is owned jointly

subsidiaries British Petroleum Co Ltd.

ودا

| Gulf Oli Corp.-United Press.

Singapore

Burroughs Add Machine Canadian Pacifié R. Co (J, L) Co.

c. 1. T. Financial Corp. Cat Tractor

Celances Corp.

Chase Manhal. Bank Chrysler Motor....

| Colgate-Palmolive Co.

Warner Bros.

Westinghouro Mecirla West Va. Pulp & Paper Woolworth

United Press.

New York Foreign

Exchange

England oflefal

41% Australis

New York, Jan. 24. 30-day futures, 90-day sutures,

of

and

Commercial Credit

Commonwealth Elec.

Consolidated Edison Continental Oil of Del.

4812

New Zealand

DO

South Africa

Continental Sterl

37

2812

3014

Stock Market

Singapore, Jan. 26.

the Brokers tollay, quoted

Opening

following stock prices: ·

Elati Lintank Rubber Co..

Ltd., M........................................... $1.55 British · Borneo Petroleum

Hyndicate

Consolidated Th Smelters

1001

Honghong & Shanghai Bank.

ing: Corp AAN

120

Hongkong: Tia Ltd.

29/20 Exec Neava Ltd. Ord, $1,00 Fraser & Nesve 71⁄2” cum,

$9.95

3020 ed H

Kempes Lid: Van

Lungs Rubber Estates Lid. 14.10 Malayan Breweries

$1.95

·94.20

$1.00

New, Serandah. Rubber Co.

Lid, Wheat, No. 3, northern, 1624. Feinung Tin Lit. cents, No. 6, 123 centeUnited Press.

Hamics Hotel

Sinjtspore, Cold Storage

Bouth British Insurance Co.,

Ltd.

Firaja, grading, Stralis Sternship

Jap Trade Fair in ord

In New York

and other, trade interests. developed pending further developments

New York, Jan. 24. 1 In the rdw

The second Japoncee fancy market.

Trade sourtes reported about woelletts exhibitions got kunderway ju 32 Cuban · · sugar mills have at the Japan Trade Centre, 10-

4

Wearne Bros.

pečlitné Moli spectat,

LONDON SILVER PRICES

started grinding the 1956 efpo. day chibi CDON DAW piled of allver" was today!

Futures

ib, were old cont

Fair

Mar

Bapt

B. New York, Jaz:(2624)/

their worth mandiana - Kodder Trading volume and Open New cabl and fertilisers-thair use in the Interest in the New York, Cotton connexion, Industry, pharmany, Exchange today YINYO JOHTOWE

Contract No: 4 (world).

Sport+IceH

London; Jaui, 24.

qugbid. at 113⁄41⁄2 petice for, spot. public dally, until February 4 and 77% fiches for forward idatures 17 Booths display his (alhine(78 and 219 pohod pres 16 the progres the Japanere woollen viously) -United, Proses

vidištrykčios made from 1670-to

Corn Products

Crane Co. ****

Crown Zellerbach

Cubon Amer, Sugar

Curtis Wright

Diamond Alkall

Dow Chemicals

Dupont de Nemours

Eastman Kodak

El Paso National Gas

Uruguay

Indla......

Canadian dollar roles:

18pot: close'

high Jow

DO+day

| Futuro: 30-day

-month

2.79 13/10

Bellers $1,009/04 $1.00 11/26

1,00 0/04 1,00 11/04 1.000/04 1,00 3/64 1,000/64

1.00 10/14 1.00 4/04 1,00 8784 100 1/04 1.00 5/86

United Press.

Let US handle

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Too many proofs mean time' wasted. Wo grasp the point at the onset and ONE PROOF · generally suffices.

After that, our upstosdato aŭtomatic

presses make, short work of the job.

quote for your

requirements,

current

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