1956-02-22 — Page 9

WORLD RUBBER MARKETS

New York, Feb, 21.

The No. 1 Res rubber future. ; today closed 10 points lower to 20 point higher with enles f 195 contracts,

The standard contract closed) 10 points lower to 30 points- higher with sales of eight con- tracts.

lime.

P

THE

CHINA MAIL, WEDNESDAY, FEBRUARY 22, 1956.

TRADE and COMMERCE SECTION

New Management

CONFIDENCE

RETURNS

IN LONDON

London, Feb. 21.

Pre-holiday evening-up opera- tions between commission houres and dealers accounted for mad, of the terminal market buitese. Confidence, bolstered by

The sput market remained quiet with featury

and ether renewed strength of ster- ling, highlighted today's consumers marking

Shipment offerings from the session of the London For East

plentiful

but Stock Exchange, and most beyond A workable

basis, sections closed higher. Traders calculated the Local market to be running about i

demand helped Investmen! to 1

quoted juhivad from the outset.

cents a pound under # rich British government stock

parity with Singapore.

Spol No. 1 Rs) ww 33% cents o pound, Futures:

No. 1 Ra Old

-Page

And Labour WASHINGTON'S Quiet Pre-Holiday

Relations Set

In France

Paris, Feb. 21.

The Regie Renault, Franco's state-owned motorcar manufacturing firm, is revolu- tionising relations between management and labour by signing a two-year wage agreement with its 50,000 workers which has set a new pattern for big French industries.

BIRTHDAY

New York, Feb. 21. Leading securities and commodity

marketa throughout the United States will be closed to- morrow in observance of George Washington's birth- day-United Press,

HONGKONG STOCK EXCHANGE Slow Trading

(From Our Correspondant)

Business done on the Hong-

kong Stock Exchange this morn- $400,000. Naon quotations and amounted to approximately the morning's transactions;

1 A 1780

SHARES BUYERS BELLERS SALES

DANKS

IK Bank... 1760 1760

234 East Asia......

INSURANCES

Lumbard.... 50% Underwriters 0.10

The "Renault Agreement,' signed-in September 1955, guarantees two salary increases, each of four per cent, in 1956 and 1957 respectively and longer holidays, SIPPING gains ranging to £1 show-ranging from three to four weeks according

Old to length of service.

porninal. Although some issues failed

Standard contract New

March

May

July

Sept.

Dec.

March

May

July

Sept.

Dec.

March

SINGAPORE

33 20

31 72 31.00

12.28

32

3100

31 43

30.20

29 50

to hold at their highs, numer-

War at the close. 32.39-000 32.18-20 345 sperked the advance,

Consols gained 15 shillings.

I is a landmark in French | General Manager appointed' by Inthestrials firmed under short

who is head of rovering and bargain hunting, Industrini relations. Already its the Minister for Commerce and

been industry, provisions have

of finished

composed They

abroad. main

written into agreements signed Managing Board

of the govern- spread of fractional gains. perlul Chemicals, Walworths, management and workers in representatives

French coal- ment, management and workers. the nationalited

macs, one of France's biggest aircraft building Arms, and the Peugeot motor enr ürm cover- ing 350,000 workers.

The market opened about five cents lower on weak overseas advice, but it was not until the afternoon that iquidation from Federation cratres enused Fairly heavy selling here.

Towards the close there was trade support and market closed te siendier. Futures were 10. rubber pot

No. 1

March

April

May

+

No, 3

k

No. 4

No. 2 rubber per i March RS-IS,

"Sööt rubber unbated

Blanket crepe

No pale crepe

LONDON

90- 103-9

ungunted

171

Drama mm - til J-14)

The market was steady with spot quoted at 294 pence, the lowest since June, 1955.

No. Hakimi

Settlement house ter

Apr31

May

June

July/Sept

April/Jus

Oct/Der.

March

April

with

Im

und selected steel and enginees Ink shares showed strength.

Fords Skid

American Ford Motors sicdded £1 to £113 for a five-share block.

3

The

Pilot Strikes

Renault

management

Ors opened on the tem side, points proudly to the excellent then turned irregular. Royal relations which it has developed

ደ ኑ . Dutch Jost About

but with its workers on a basis of severni others Anisher with collective bargaining and profit-

anal net gains.

sharing since the Armn was con- Japanese fiscated in 1945 from its found- In foreign binds, Buns found support and scoreder. Louis Renault, was died in

up to £1. Germans prison-while awaiting dela!

mostly un-charges of collaborating

advances

weke

icle

changed.

and

Gold shares fred after an uncertain opening. Coppers ad- hokanta N- Jed by Prices vanced,

Selec- Changa, and Rhodesian 2014-20

tion Trust,

203-2017

2004-201

2714-27",

27-2712

284-29

2011-201

General markets, eff tusts, ports:

Estale crepe unquoted

AMSTERDAM

The market was slcadier, Prices

in

guilders рет

gram, cif Mart as follows:

No. 1 rubber

No. 2 uker

NA.

3 rubber

No. I crepe

kilo-

275 buyers

2 ta tayer

2.69 buyers

3.10 buyer

-United Press.

Dollar stocks were higher-United Press,

mostly

LONDON SILVER PRICE

London, Feb. 21. The price of silver was quoted

at 70% pener for

today ounce

p fine sout steel forward (against 79% pence for both

positions previously). Press.

[on]

with | the Gerinans during the Occupa- tlo.

0

This Board meets only three times a year and. apart from formally passing the annual re- plays little port and accounts part in running the enterprise. The Regie has to compete on powerful equal terms with its

motorcar rivals in the French industry, notably Citroen from whom I wrested the position of

vehicle France's leading

pro- It receives no ducer in 1940, state subsidies and raises capitai at current by' Joans noated

govern- market rates without

ment guarantee..

in 1954.

is

also

in

Waterbont 20.00

DOCKS, ETC.

K. Whart. 7145 Dock

3314

Provident (0)

LAND, ETC.

HK Hotel .. 17.70 17.00

K Land (01

Humphreys NUBBER

A. Stubbe5

(N)

4

In New York

Cotton Futures

New York, Feb. 21. Narrow price changes and a slow trade featured the situation in cotton futures today.

Session

On Wall Street

New York, Feb. 21, Stocks held in a narrow, irregular range in a quiet pre-holiday session today.

There were a number of individual

features and copper shares got a whirl on

higher prices for the metal. For the most

part, however, trading was routine.

Turnover_totatted 2,240,000 fini'i Igrvester sharea compared with 2,930,800 Int1 Tel. & Tel.

International Niskel shares yesterday.

Katson C. Power & Light Konnecott Copple Out of a total 1,178 Issues | Lockheed Aircraft traded, 514 were higher, while

Lone Star Cement Co. 401 declined. Industrials were Mission Development up 0.47 on average, ralls off Montgomery Word 0.11 and utilities up 0.31.

which

National Cash Her. "A" National Lead

Holiday-minded traders cen-

New York Central fred attention

Соррета Da adjustments

hnd gains On Mathieson before ranging over two points

at Oils Elevators 1000 mp 14.00 in the Murch delivery

first notice day on Thursday, their best backed down a bit Pacino & Elec. Pacific Western Oli en late profit-taking. Cerro de Pan American Airways

and

Paramount Pictures xd, Magma, however, Pasco held rises of more than a point each.

200 17.00 233

50002

40 0015

15200

1.00 1,70 000 un 1,63

Nearby May and July de- liveries spurted sharply at the close, but elsewhere minor changes were the rule. Closing prloes ruled unchanged to

up

G000 a 1,05 3900

23

1,85

530

1,00

up 1000

points. The market opened up 3 to off 3 points. New to 25 175 Orleans elcsed

3

points.

23,20 100 29

Now

will

UTILITIES

Tram Star Ferry .. 143 145 Y'mal! Ferry 101 100 c. Light (0) 21.00

(N)

C 11x11

Electric

Strong Spots

Parke Davis Co.

Penn. Bolt Co. Radio Corporation Republle Steel Reynolds Metal Sinclair Oi Botany Vacuum Standard Brands standard Out of Cal. Standard Oil of Ind. Standard Oll of N.J. Sterling Drug_Co. slokaly-Van Camp. Studebaker-Packard Corp. Swift & Co. remain closed until Thursday

morning

Lukens featured for the Washington's

narrow Texas Co.

Union Carbide" steel group with a gain of more Union Facific Railway birthday observance,

than a point.

There were strong spots the olls with Gulf up more than 2, Warren nearly 2, Richfield more than a point and Standard of

The New York and

California almost.one. 500 $1.80 Orleans cotton exchanges 2002190 119,20 100 10

1000 x 19.30 43% 43% 1000 ar 43

100 or 43% 1300 4431 400 435

33 321 1300 « 331,

Meno Elec.

(N)

8.00 3.60 0.30

Telephone

INDUSTRIALS

Cement

STORES, ETC.

Dalry

Watson....... 1. Crawford COTTONS

Textile Corp Allied

The management proud of its achievements

Rone conditions. improving working Before and after. World War

increased use of safety devices HI, Renault's factory in thehas reduced the rate of ac- Paris suburb of Billancourt was cidente for every 100,000 hours a centre of Communist agita- of work from 25 in 1947 to 10.0 Hon and a testing ground for which frequent "pilot" strikes oflen spread Litroughout the country. But today, although do per cent of its employees

Communist- One Renault worker members dominated General Confedera- now owns his own car. In 1930, tion of Labour, próduction hos there was a shower

a strike230 workers at Billancourt. To- not been stopped by since 1953.

of

the

are

Apprentice School

in Ave

for every

there is one for every 20

.

day, workers.

in that year, a stoppage in a

workshop interrupted The firm has provided hous- single

for 1,000 the ing throughout United production

accommodation

many This Includes Blancourt factory. After fruit- fainilics. less negotiations, the

the cor- then modern flats built by

Mining Concessions

Objection

Dublin, Feb. 21.

Mr S. Lemass, former Eire Minister for Industry and Commerce, has severely criticised the tax concessions granted to

interests mining the Canadian operating at Avoca, County Wicklow, and has objected to a Bill in Parliament to legalise these concessions.

now

dictated

President and General Manager poration nehr its NW factory at of Renault, the late M. Pierre Flins, just outside Paris, Lefaucheux,

a letter

In its own apprentice school the wife of which was sent

"Your it trains 800 boys at a time. every striker. It said:

impering the bet-Scholarships are offered to, pro- husband

wishing to ter pay and conditions he has mising candidates obtained through

nationalisa graduate in one or other of the thon. Tell him to get back to national Technical Institutes or liis job."

Colleges-China Meil Special.

at

Within hours of the delivery of the letter, the men were work once more.

Quarterly Bonuses

Wages at Renault are related

culated by representatives

and management

to a cost of living index

ployees have found a one per

Interest in new crop months was limited and centred mostly on straddling operations be tween trade accounts. New 200 321 Epeculative interest was chilled pending congressional develop→ ments on the farm bill.

firms

30 1200 1024 10003015

13

17.40 17.00

12.70

30

3.10 3.40 4.00

Chicago Grains Steady To Weak

spot

were

Lettling accredited sellers of upward of 18,000 bales in the March delivery just above the 304 cent lovel

Open contracts in March et the start of trading today total- led 122,800 bales. Ring experts thought the position would be to the smallest amount down open on a first notice day for some years, they claimed.

The certificated stock remain- ed unchanged at 10,146 bales,

interest орет

Volume and

a

Chrysler rose nearly a point in the motors. Over-the-counter, Ford picked up a bit after its glowing, 1955 report yesterday.

Ralls held in a narrow range от the most

with part

la gains of around A point Northers Pacific and Delaware Hudson.

Long Bell Lumber turned strong again, rising more than 3 points.

United Aircraft UB. dypnin

U.S. Rubber US. Smelting US. Steel Warner Bros.

United Press.

Singapore

Stock Market

Singapore, Feb. 22. Brekers today quoted the fol- lowing stock prices;

Opening the Batu Lintang Rubber Co.

*********** $1,75* Borneo PetroleumH,

Tin Smelters

Activity centred in lowly Denguet Consolidated for second day in a row. It JOPR 4 to 2%, a new high.

Ltd.

Briilsh

Syndicate Consolidated

28/06

New York Stock Exchange | Ord. band volume was $3,870,000. Fraser & Nenve Lid, Ord, $1.79

Fraser Neave 15% einn.

pret Hongkong & Shanghal Bank-

Dow-Jones closing averages

American Stock Exchange volume was 710,000. shores,

ing Corp

2040

wem:

Kempas Ltd.

Hongkong in Ltd.

7/34

81.87

were;

Month

Volume

Open Interest

Morch

21,400

172,100

30 Industrials

Chicago, Feb. 21. Prices in grain futures were today steady to weak Mar. on the Board of Trade..

May

24/200

$41,200

20 rulls

Lunas Rubber Estates. Lia, Malayan Breweries 478.93 Now Borandah Rubber 159.17 Ltd.

$4.12

$3.50

$1.70

July

23,300

205,000

10 ulica

$4.00*

05 stocks

Oct.

17.000

232 400

12.35

40 bonds

Dec.

10,000

250,000

$1.53

8,000

$0.00

May

10.000

July

$0.000

Total

Exporters sald that 'Western Germany due to buy 750,000 bushels of US and Canadian feed wheat tomorrow, and a second purchase of almost two million

the end of the month.

New York Sugar Bushels of US hard: wheat neur

Market

New York, Feb. 21.

futures Ward No. 4 cal-

sugar

to 2 of closed today unchanged workers. points higher with sales or 14 During the past two years, em- contracts.

Domestic No. 6 sugar closed cent increase in their monthly pay envelopes seventeen times unchanged to 1 point lower with

sales of 180 contracts. without prior announcement,

World

were rela- contracts to their hourly In addition

they tively featureless. Trade buy- September in the of Renault's dis-ing orders receive half

During the second reading of the Bill, Mr Lemass said he believed it was designed to and piecework earnings, encourage the very type of development least (tributed Droits in quarterly delivery featured the domestic

on Irish mineral bonuses. The other half goes to contract dealings. desirable "in the form of raids

the state as a dividend. resources by large financial interests seeking to

production In this way, obtain as much profit as quickly as possible and worker of average length of service received, in 1954, about then clearing out."

50,000 dranes (£80)—equivalent to 10 per cent of his earnings.

The Renault Agreement Was

He

the had issued

He thought the Bill should he

understood that framed so us to relate concess- Mogul Corporation ion to the volume

tion.

that

10

of produc£3,500,000 in debenture shares drawn up at a time of serious and so highly was the profit social unrest in France lost

of the Avoca opera autumn. prospects He understood

thelons deemed that the issue was Mogul Corporation (the Cona-oversubscribed almost before the A bid by the General Con-

dion interest involved in Avoca),

opened for sub- federation of Labour to organise books were was estimating for an annual acciptions.-China Mall Special. n strike among its members at output of 3,000 tons of copper

the Regie was frustrated by M. Pierre Dreyfus, successor to M. Lefaucheux, who had been kill- ed in a road accident earlier in the year:

which it present prices

provide

profit A

£1,400,000 tax free.

would

of aboul

In addition there would be profits from lead, zinc and Bulphur..

Earn £5 Million -

During the four years of tax concessions, Mr Lemasa con- tinued, the corporation would eam about £5 million and they would hard recovered the total sum invested in the undertaking.

The corporation, he said, was basing its plans on the nasump- tion that there were 13,000,000 tons of ore available in Avoca, and that by the time the mines would have been worked profits would amount to tween 10 and £12 million.

AMERICA

ON WHEELS

Dynamic Leader

FARGEN &

Dealers said that export de- mand, for soybean meat would be stimulated by the European cold wave. Dealers also believe some surplus US commodities may be shipped to Europe to aid arean ravaged by winter storms.

Wheat closed, off to up tent; soybeans of 1% to up 1⁄4 cont

CLOSING PRICES

Procs per bushel In cents: Wheat, No. 2, red

Futures:

Spot

Mar. 220 (1) 21036 (£)

Contract No. 4 (World)

May

July

March

Sept. Nov.

May

July

Corn, No. 2, yellow

Sept.

Boot

131n

Oct.

3.23

Mar.

19136-n

March

3.27

May

Spot-(cent por lb.

July

1304

fob Cuba)

3.30

Bopt

1403%

Nov

130%

Contract No. 6

Tiye

Mar.

May

May

1273-20 12714-16

July

Bept. Nov

5.52

Qata

5,65

Mar

00

B.30

Spat-icenta per lb. elf NY ax-duty)

May

0411-14

$.40

Soybeans, No. 2, yellow

United Press.

Spat

Mor..

MBY

July

Sept.

Nov

Barley, Spot

New York flour

200 1b, sack

NEW YORK METAL FUTURES

New York, Feb. 21. M. Dreyfus, who already had a long record of able service in Prices of metal futures closet New York, Feb. 21. antionalised industry, summon-today in cents per lb. og fol. America on wheels: Six outed all the union spokesmen, in-lows:

General of every 10 American familles cluding those of the

Confederation of Labour, to a own automobiles.

meeting at which he made His According to o study ro-wage and holiday offer. leased today by the American Confederation officially spurned Petroleum Insiliuto, they spend it as inadequate, But Jt was an average of $825 a year to warmly accepted by all tho operate then, A

including employees, members of the Communist

ica'a

Of that $325, roughly co per trade union. cent, or $200, is spent on woT-

ds out

vice station, tams, such

be

40.50b

130-140

$13.00

WINNIPEG PRICES

203

Winnipeg, Feb. 21.

Prices of grain futures closed

today in cents per bushel aa

follows:

The

Lead

Tin

Zine Feb,

Mar Copper Fab. Mar

Feb. Kat Tel Mar

15,33h

15.30b

90,00b

18.236

Odlh

12.30

Млу

49.40b

July

Oot/

Press. Ryo

May

July

110

Oct.

Barley

May

petrol, motor oil, tyres,

How dar thé absence of pri- bat-vato shareholders has improved

terled, necesporles inut serviços.

|industrial relatione at Renault

Exchange Rates

uneficial

le dimoult to determine. But it Business was done in the lochl

fmarkel thie Flaxseed exchange. The major portion of each is certain that the Regle has mominy at the fallowing rates All the money for the pro-

May+ -raised ject was

dramic teador, dolar (per, $122, 1.00 in dollar, 43.2 centa, good for acted, OFF boing

July Det Canada, he stated, and no op- vetro), while motor oil repronmong. French employers. Ita sterling notes iperten 14:

Whoah, Na- portunity was being given ' to monts 4.2 cents, now tyres, 5.3 statute follows the external pat-Autralien notes there the 150

iptomestan, Taphah (Bár 100) *** 18,09 No. 1, 125 con in this cents and Batteries, 2.1 cmis--tem of a joint stock company, am treat" (pur, 100)" Irish people to invest

20.00 andoriaking.

United Prom,

but with

and | Bingapore (Straita)

10010

4.50

3.000

... 119,800 1,442,000 baies

NEW YORK

05.24 Peinling Tin Ltd. 159.07 Rafles Hotel

90.42

Singapore Cold Storage

Comm future price index 183.77 South British Insurance

Closing Prices

Alden Ina. Ary.

Ailled Chemicals

American Airline

Prices of futures closed today Allis Chalmers

as follows:

34.con

15.77

American Metal

American melung American Tel & Tel

33.38-39 American Tob, "B"

Anaconda Copper

Armour

Baltimore & Ohio

Bethlehem Steel

Spot

Biar.

May

July

34.19

Oct.

31.10

Dec.

31.80

Mar.

312

Benguet Cons,

May

31.10

July

30.00

NEW ORLEANS Prices of futures closed as follows

Spot

35.25

Mar.

35.75

May

July

31.12

Oct.

31.0

Dec.

31.57

General Electric

Gineral Foods..

Mar.

1.17

May

31.17

General Motors

July

30.00

LIVERPOOL

Canadian Pacific R. Chase Manhat. Bank' Chrysler Motors Colgate-Palmolive Co, Commercial Credit today Commonwealth Elec,

Consolidated Edison Crane Co...... Crown Zalierbach Cuban Amer. Sugar Diamond Alkali ...

Dupont de Nemours Eastman Kodak

Gildden Co.

Goodrich (B.F.Co.

Goodyear Tire

Heyden Chemical Ingersoll-Rand

Future closings, In pence per Int'l Business Machines

Ib, were as follows:

Old contract March/April

New contract May/June

26.10

May/June:

25.40

July/Sept.

21.60

34.40

July/Sept.

Oct/Nov.

Dec/Jan.

20.50

SAO PAULO

Egyptian Kamak Mar/April

Future closings, in cruzeiros per kilo were as follows:

March

May

October

December

32,70

In the United States, the average spot price of 15/10 mid- dling cotton at 14 designated apot markets was 30,52 cents, Sales totalled 41,770 boles United Press.

LONDON METAL

PRICES

་ ལ

London, Feb. 21.

The tin market was steady

but quiet,.

Spot copper this another now. bigh aines the market reopened. In August. 1903. Other metals were also steady.

Prices closed today in sterl

ton as follows: ing per

morning touched

#-monini

·

Copper spot... -*• Líkj

(4-month, 105.

Line. Ind halt.

Straits Trading

Lid,

Straits Steamship

United Engineers Ord.

Wearde Bron,

China Mail Special.

New York Foreign

Exchange

New York, Feb, 21.

216 | England 30-day futuren ....... $1.00 3/10

ID1% 32 48) Pakistan

724 GTX Press, 314

India

Others

Do-day future? ...

were

2.791

2107

unchanged United

London Foreign

New York Montreal

Exchange

301Copenhagen

TB Frankfurt

171 Zurich

Others

406 Press.

were

London, Feb. 21,

2.80 11/10-2.80 13/16 22.0014-2.80 8/10 139.45-130.47% 1924-19.34

11.72-11.72

20.00-20.01

12.27-17.2314

unchanged-United

Let US handle

YOUR PRINTING

Too many proofs mean timo wasted... We grasp the point at the onset and ONE PROOF generally suffices. After that, our upstordato automatic presses make short work of the job,

Let us quote for-your current

A

་

SOUTH CHINA MORNING› POST.

PRINTING DEPT.”

For printing of avery des

20002