1956-03-28 — Page 9

THE CHINĄ MAIL, WEDNESDAY, MARCH 28, 1956.

TRADE and

COMMERCE

WORLD Canadian Trade Boom

RUBBER

MARKETS

New York, Mar. 27 No. 1 Ras rubber futures closed today 30 to 30 points higher with sales of 518 tracts

2011-

The standard contract closed 30 to 06 points higher with

sales of two contracts, suvelv ing an exchange

of May vid

for Muy new contracts

points difference.

ul 20

Most of the termina) business

Chicago Grains

Active

And Firm

Chicago, Mar. 27 Grains were active and irm allghtly lower on the Boord Trade today, with wheat,

September

was reported t be of pecul

sive origin with dealers interest

to

ul

market ball way. Part of | 139,

operating on either akde of the

eurn

and

orals

Continues HONGKONG

FUTURE PROSPECTS

DEPEND ON

NO U.S. RECESSION

Ottawa, Mar. 27. Concern among high Government Canada can highs for the authorities as to whether

continue to hold the line against inflation selling and throughout 1956 is underlined by the preliminary trade figures for 1955.

the yint was attributed to September and December

of failure the

the market to fully follow through The setback of Monday.

TELLITE,

deliveries Q1 scaled al new season, with

trading at new

Dinst

4%0 soybeans

for the Factory buying continued on tighe

hedge strielly

seuttered roothe dealers sud Spa No. 1 Rss profit-taking being attracted by weje protest nominally 32 ents the advance.

pound.

15

Pare costs Were

basis,

That buying of new erov whe

wheat

af moisture over of the southwest plus unfavourable foreign rup news.

It is evident that the country was able futures was influenced to avoid inflation last year chiefly through an enormous increase in imports from the United States. The already heavy excess of American imports into Canada over Canadian exports to the United States increased by 42 per cent during the year.

Nu. 1 Ras

1

by the lack

May

JN 945-31 93

July

30

T

September

30 33

Standard

t'untrack

March

30 Ta

1

Max

July

Supiterie

Incestry!

Maren

Alles ope Ding he wen kel covered.

14 201

1981 7701

SINGAPORE

1.

41-

ht

cover my but later

Alter

eling from

11

les 1. 90

Posing

J

Fartin

: է .

Apd

Feltation

No *

Apt

16

J

M

H 1

ALE

Na 1 raphalest

A

Meet runden sinbizlerl

Banket cepe

No pake

א, וי

180.000

Dennozak purchased bushels of US soybeans April/May delivery, and

KATY

requested offerings 400,000

bushels of U when for April/ May

CLOSING PRICES

Prices per bushel in early

Wheat No, 2, red

w

WWW H

2265, 14

27.

Jarks

240'

2.

The gal

207- 2001- 213

214,

fa i

spot quted as 24k per tire per ih

, ;'ז

איייי

Tait

Cod, No. 2, yellow

13900

Its fact. Impala (retn Si Throughout 1950. authorities United Staten represented Ilth bere anticipate marked thxt- Hess than 73 per cent of Canada's | provement in the balance, with i foreign purchases. This was British exports in the melai!

rising. made possible by a large inflow categories

notably of American capital into Canada, machinery, as well as chemicals, particularly to investiment The maning m. petroleum plation telets

Vulnerability

(x-

the

On the export side, there was 149 In large increase in the absolute

138

14216

Th

11,

K7 Bu

*1

TEAT

BAYI 190

LONDON

200

Ma

..

Arvids

Har

M

Fl

101. 120-120

21-27

Dak

VAL 20

M..

July

04-00 051

2-201

115-291,

Soybeans No. 2, yellow

247-25

Aprit

May

Apri

20mm -20405

Jus

May

201-28-

Sept

June

20-2'.

Nov

3

Jam

iniek unggutes

United Pre

Harley,

Spat

260-250 207'' 270112 25120, 24-4

24624-247

130-140z

No dit

Jer

datz-Semeandows

January March

General markela vid basZIS

London Foreign

Exchange

New York Montreal

Amsterdam

Brigits

Frankfurt

1.1132

Parta

Stockhalth

Zution

London, M 27

New York flour

2)

Back...

$13 804

WINNIPEG PRICES

Prices 28-7/10-280, today

2001-2 80-3 vá | follows:

10 65) 1-10 837,

139 86-139 12'

11.72-11.124

80 05-10 20

904-084),

Eithers were unelonged

14 027-14 33

12 231-32 201

New York foreign exchange tĒC

wete valable Grates Per

Exchange Rates

Thisness was done I the neni anonical exchange anathet warning at the following rates

US dollar per $1

Sterhag naten iper

LT

Australion botes get £1

Indonesian rupials per M

Soon teal (per 100)

Singapore

(Straits

Dals

Mas

SALLY

1201

112

Total

Canada "[

salvs Tu

United States, which continued to take no less than 80 per cent fot all Cunadum exports.

14 A recession In

STOCK EXCHANGE

(From Our Correspondent)

Business donc on the Hong- kong Stock Exchange this morn- ing amounted to approximately $350,000. Neca quotations c

the morning's transactions: SHARES BUYERS SELLERS BALER BANKS

I lank... 1660 1675 20 1070 East Asia

210

INSURANCES

Lombard... 3015 Underwriters

DOCKS, ETC. K. Whart Dock XD Provident (0)

XD Wheelock LAND, EFC

HIX Hotel AIK Land Humphreys

BANDER

A Rubber IFTULITIES

Tron XD Yinatt Perry

B30

72 32.60

13,10 13:40 500 in 13.20

8. 8.50 2000

533

16.20 14.34

ANY

200

30%

10 B00 300

17.70

150 1 du tande i 155

ឆដ្ឋទ

100 102

C. LINDI 109 2110 2130

SECTION

AUSTRALIA'S

PROBLEM

wors

Canberra, Mat. 21. Primary industry WAN unlikely to solve Austraila's balanes of pAY- menta problem. the Governor of the Common- wealth Bank said hero to- night.

Australia must look now to manufacturing industries to grow to maturity and turn her attention, at least fa part, to producing over-

SCAN.

To earn currency over- weas, Australian Industries would have to match and surpats tho emolency of competitive countries. he added. China Mail Special.

1956 WILL BE

GOOD YEAR

FOR FORD

Detroit, Mar. 27.

The Ford Motor Co. said today it is doubtful if the

21 suauto industry will be able 10002150 to match 1955's sales and

1200 21 49

F

Page

New York Market Hit By

Sharp Downturn

New York, Mar. 27.

Stock market valuations were pared more than 1 billion today in a somewhat sharper extension of yesterday's downturn. Industrial shares lost 3.74 on averages, rails 1.28 while 670 issues were lower out of a total 1,201 traded. There were 287 higher for the day.

Trading fell off on the down- turn which was seen as n normal technical selback after the recent run to new all-time highs

Industrials

and quantor- | century highs in ralis,

Turnover totalled 2,540,000

B

| shares, compared with 2,720,000 yesterday and smallest Hince March 8.

Copper shares, with the added pressure weakening price structure and growing concern that the metal is being priced jout of the market, slumped 2 to

more than 4 points.

Wide Losses

Kennecott Just 432 Inspiration

Anacosta. Magame, Copart Photos Baby **

Miami

10x) 21.30 production pace this year. Crno De Fuses around 2 vacht.

In steeks. Hethlehem Tell

15020.76

The annual report to stock-nearly 2 300 on 20 holders,

signed by chairman Chrysler feil more than, 54

70

Ernest R. Berch and president point in the motors. Henry Ford 11. noted, however,

There were some wide losses that 1956 will be "a reintively in chemicals acurly 3 in Allied,

ene! in Du Pont and Monsanto

140 in (

Electri

29.70

and

litn Масла дет

401 (N) Telephone X.ALL INDUSTRIALS Cepient.. Rape STORES, ETC

Balty

900

11.30

121 120 350 37 40 10003 17.10 3017 20

After the United States

United Kingdom, Jap standa u third place as an ex- tied with West por market. Germany. At $1,000,000 dollars

£30,300,000 sterling).

maneer

Most remarkabte has been the j

in which

hus Japan Barrowed the gap in Trade with Canudo.

In 1953, Canada was selling to nearly ten times as much Japan as she was buying trʊm her. namely 10,000,000 dollara

The vulnerability of Canada American business ts, therefore, evident, ance at would not only cul down Canadian export sales but would 12,000,000 dollars reduce the likelihood of Amer-sterling) worth,

jean canital flowing Into Canadu

leady voluma

22 20

2K 220 good year" for Ford.

As reported previously. Ford 34% 34% 1200 un 30%

emmings rng up record sales, 15.80

and production in 1955, the big- automotive gest boom your in history.

COTTONS

Textile Corp 5.20 $40

7.40 Nanyang

MISCELLANEOUS

Yangtze

Alled

0.70

5.10 620

(£30,000,000 sterling) as against New York Sugar

(£4,000,000

Was

The unbalance

Canada serious in 1938, when

dollars 01,000,000 With these cavonis tor the sold

£30,300,000 sterling) worth of future, 1955 can be written down

against 33,000,000 goods as (£11,000,000 sterling). But the rate of reduction

bren has phenomenal, with Japan selling a wide list of goods "across the board" without undue emphasis on any one commodity.

as the record peacetime year in Canada's foreign trade, with at for

least short term prospects 1956 remaining good.

In the overall, foreign trade was up 13 per cent from 1904 and per cent from 1953, the previous record year. Total ex- asports

months) (for 1]

(about

Winnipeg. Mar. 27 of grain futures closed

cents per bushel

NA.

72

| 4,391,000,000 dollars

£1,450,000,000 sterling)

were

Prospects

Market

to 2

LOWER SALES The two Ford executives said. 1905's strong showing was the result of

pro- jung-range

when Krumme begun in 1946, the present munagement took

over.

sales

2.

Based on present indientions, and production will be somewhat lower this year, the report said. New York, Mar. 27.

Ford, one

of the nation's futures three biggest World No. 4 sugar

industrial money closed today unchanged

пер income lust $8.10 points higher with sales of 10 carners, had

or year of $436,990,975, contracts.

on share, Domestic No. 6 sugar futures $5,504,022,074. In 1954 it earned G share. closed 1 point lower to i poin! $227,638,870, or $4.31

and chalked up

sales higher with sales of 248 con- tracts.

$4,062,330,608.

The

a

suleg

In olls, Gulf fell nearly 2. Aluminium shares were mixed with Kaiser af nearly a point, Aluminium down nearly 2 and

Aleon up more than 1

Activity centred in Boeing, Sperry Hand and Panhandle Of.

New

York Stock Exchange

bond volume was $4,000,000.

American Stock Exchange volume was 1,430,000. Dow-Jones closing

were:

30 industria諌

20 sil

10 utilities

13 stocks

40 bonda

Corum. Buture price odex

Inland Steel Co. Interchenical Corp.

Huthee Machines Int'l Harvester.... International Nickel' International Paper Intl) Tel, & Tel. John-Manville Cn. Kansas 4 Power & Lighi Kennecot Copper Liggett Meyers Tob. Co. Lockheed Aircraft Loews Incorp Lone Star Cement Co. Louisville & Nashville J Lowenstein & Son Menali Iron Corp Minnesota Mining Mist Developmeni Monsanto Chenilen) Co Mantgujnway Ward Motorola Inc. National Cash iten "A" National Dairy Prod. National Lead

National Steel „Coin. New York Centrul

Otin Mathieson

o Elevators

Owen Illinois Cilias Paville Gas & Hec Parle Western Di

an American Alewnys Paromaant Pictures Parke Davis Co.

Penny C Penn. Salt Co Philip Morris

Co

Procter & Gamble Ce Pittsburgh Pint Glas Pabllokep Industries Pure Dil Halo Corporation

publie Steal

fteynojde Metal Shot on co Sunt Reg. Paper Sinclair Ou South Puerto Rico Sugar Sueony Mobilul

Southern National Cas...........

Southern Railway (Com. Standen! Brandy Standard Oil of Cal. Averages Standard Oil of Ind

Closing Prices

Standard Oil ct N.J. 300,68 Sterling Drug Co. 170.17 Stokely-Van_Camp.

Studebaker-Packnit Corp. 150.075wift & Cn.

6140

08.61

Texas Co

151.75 Tide Water Asm, Oli

Alden Inc. Acy.

1 21

of

Allied Chemicals

140

Allied Wifia Inc.

3)

Allis Chalmers

723

American Airline

252

of

Am. Mach, & dry

American Cyanamide Co.

714%

20

American Metal

61

foreign

Ainerican Smolting

American Tel A

1046

American Tob. B

Anaconda Copper

Arnico Steel"

Baldwin-Lina-Itam

Armour

sales

Baltimore & Ohio

|

company's Trade buying orders pre- salca also boomed in 1935, dominated In both markets rising $205 million to a total of with underlying sentiment $1,275 million. Only $281 On the import side, Venezuela, influence d and

by steadiness in million of the total is included totall Imports 4,712,000,000 due to her ud production, rank-

主题 the consolidated dollars 1.570,000,000 sterling), ed third with sales of 175,000,000 sterling). dollars (£56,300,000 This compared with Venezuelan purchases of 31,000,000 dollars sterling) from

Some new trends appeared and some existing trends were em- |phasised. with direct bearing on 12mediate prospects. Most not-

able was The increasing

pre- dominance of the forest mulus- tries in Canadian export kels.

Ryc

303

auf

| 19

Bet

Burley May

1340.

1017

July

12. HE

Flaxherd

May

42113

A 83

July

15 80

12 42

17 20

20.70

120

4041.

{ན་ ་

No. 3, 10544

Hold Up Well

חון?

* £10,380,000 Canada, a Agure which may be Increased but is wholly unlikely to norrow the gap much,

ycar

for the Surveying prospects rest of the

Mr Marcel Landy of the international trade division of the Dominion Bureau jof Statistics, reaches a cautious

conclusion:

Newsprint was at the head of the list, with 400,000,000 dollars

fellow (£222,000,000 sterling)

that "There were indications cents; Wheat,

byt planks

and boards.

the

Just in

ahead months No. 5. 132 cents-Unitex Press, ed

385,000,000 dollars (£126,000,000 economic activity in this coun- Canada's main sterling) which are now ahead try and among

338,000,000 of wheat,

dollars trading partners, especially the (£112,700,000 stering) follow-United States, would continue at forest product, a vigorous pace. ed by another wood plup. 207,000,000 dollars

United States Steel Corp. Record

New York, Mar. 27. The United States Steel Corporation reports for that 1955 was record-breaking year

a shipments, sales, incomes, wages and dividends.

Sales reached a record level of $4,097,700,000, shipments rose to 25,500,000 tons in a new annual record and earnings reached $370,100,000 or nine per cent return on sales.

However, in its annual report { issued here warned

economy.

To meet these

| (£208,000,000

sterling). giving

the forests credit for three out

of Canada's Arst four export

earners.

Coincides

that

rows.

Futures:

Contract No. 4 (world)

May

3.30

July

30

Sept

Oct.

3.30

Mar

3.0

July

3.30

Spot-cents

pcz

Toba

Cuba)......

3.32

Open interest: 1.300 contracts. Contract No. 6

Mary.

5.40

July

5.51

Sept.

4.60

Nov.

B 5B

Spal-Icesta per lb, eif NY

ex-duty) *

6.30

Open interont: 3,177 contræets. United Press.

Agure

Press.

for the year.-United

NY COTTON

FUTURES NERVOUS

see-

New York, Mar. 27, Cotton futures today sawed

Bendix Aylation Coru,

Benguet Cons

Bethlehem Steel

Boeing Airplane

Barden 17ha) Co

Burroughs Add Machine Canadian Pacific R. Came (J.) Co.

C.LT. Financial Corp. Cal. Tractor Celanese Corp.

Chase Manhunt, Bask Chrysler Motors Coca Cola....... Colgate-Palmolive Commercial Credit Commonwealth Elec. Consolidated Edison

nervously over a range | Diamond Alkoli

of $1.50 a bale in sprsmodically active dealings.

Alternate rallies and declines were associated with con-

NY COTTONSEEDtinuing uncertainties over final

outcome of the long-debated farm bul.

Closing on a reaction the list showed net losses of 0 10 13 points. Opening prices were off Orleans points, New 2 to 9

14 closed unchanged to off points.

Volume andi open interest

OIL

the

New York, Mur. 27. Prices of cotton seed oll futures closed today in cents per ib, as follows:

May

10.06

July

10.01

Oct.

18.00

Dec,

15,02

were:

Jan.

18.20.

Month

Volume Open interest

Mar

10.10

May

10,800

340,300

Sales

totalled

313

contreinere

July

20,500 200,200

United Fre59.

Oei,

10.600

307,300

Dec

20,000

$47,000

Mar.

May

July

Total

"Barring a downward trend t

likely

Canada's Of these, both newsprint and seems wod pulp should hold up well foreign trade will carry over nt because of world demand

Into at least but high levels and boards

planks may face early part of 1958,"

This coincides with à rather difficulties from reduced demand flowing from Britain's austerity widespread feeling that Canada's domestic boom may continue programme at horne,

of the year, On the other hand, wheat throughout most sales were low again last year but that it faces a slowing up and the general antlelpation in in pace-China Mail Special Canada is for improved world demand, although not enough to eliminate this country's hugo

carryover.

Other commodilles among face costs, the Canada's top ten exports

The Corporation prices of steel mill products good market prospects, such as copper and that two basic "roots had been increased by 110 per nickel, aluminium, of the inflationary tendency" cent in the same period but the Iron ore.

On the import side,

all the had appeared in the American | Corporation's Income as a per-

de- centage of sales was less in 1035 top categories foco strong

machin- mind here-non-farm than in 1940,

ery, automobile parts, petroleum, farm m- The report said expenditure electrical apparatus, for additions and replacements plements and aircraft and their of Inclities amounted to parts.

Costs Increase

$239,800,000 last year, slightly Domestic Boom

The first of these roots, the report said, was the effort of big trade unions to outdo each more 'thon ita 1004. An other in

securing wage and estimated $530,000,000's worth enot interonses. thus raising of authorised prbjects remained employment costs in their respecto be completed at the end of

Wve industries.

1935.

The other root wns the Government's full employment Civilian Demand polley under which "the money

aupply must be inflated fast

nou

tho to accommodate

employmont

London Markets Very Subdued

Lonnon, Mar. 27.

Stock markets were very subdued today, waiting for the official economic survey which appeared a good half-hour before the market closed.

It was gelm reading, with well above the lows they had picture of the current inflation reached.

تعلامال

0,800 139,300

15,200 100,200

17,400 $1,500

113.300 1.020.000 bales

NEW YORK

Prices of futures closed today us follows:

30.000 35.53

Spot

May

July

Oct.

Dec.

Mar,

May

July

NEW ORLEANS Prices of futures.closed today as follows:

Spat May July

October Decomber

March May July

Trends in the direction of trade, apart from the United Stater, were interesting.

of prices, of prices and coBis Wall Street's overnight set... The United Kingdom's share ill rising, of Imports still back syar reflected in In Canadian exporta rose to 18 much too high and exports not stocks though not excessively,

LIVERPOOL at 760,000,000 dollars yet high enough. {per cent,

German Reich Loans werd, Future closings, in pence per £230,300,000 sterling) while The demand for steel products proportion of Canada's im

kelle and unchanged but the two, were as follows: First effect was a temporary | Potash bontis 'improved £1. Old contrast. Mar/Apr. May/June cost, continued at

high rato

or exodus from Government Ameng Japanese, Tokyo Elec-

JHIY/AGE. lest that mounting cost being throughout the year and "of porta dellto per cunt,

with most of them

tric

both arented and, note Now contract May/June about its natural result of pric-particular significance is the 372,000,000 dollars (£124,000,000 slocks

July/Aug. mio Det/NUV...... ing some people out of their fact that record sales of sicel inner). This there was a 10 showing declines of one-eighth aschied, fell £1, Russian bonds

or one-sixteenth,

Egyptian Karnak Mor/Apr.... though aven'

only 1055 were almost entirely due per cont rise in Canada's

met profit-taking and foil free- balance, already, sovero temporarily," the report said.

In the United States, the to civilian demand."

Special conditions. In Britain Industrials were haphazard tonally, Corporation's employ-

their movements The provious record, made during 1950 accounted for this in

Royal Dutch enjoyed a le average price of 15/10 middling ment costa per employee hour in 1089 Included o large the domestic boom

which Unilayer down 19 3d and Vickers of threo-eighths, styling while cotton at 14 designated spot had increased 218 per cent pipes military requirement for steel heightened demand for Canadian up 3d. Tobaccos were work both Shell Transport and British markets was 30.64 conta. Sales bales,United 1940 and similar rises ) been the report added.-Chinn Ball products and gave little incen- though a spot or strong buying Petroleum Improved 100,- totalled 12,011 experienced in other costs, Special,

Live for: txports to Canatla, just before the close lined the Unnisd Preis,

jobs,

Tho

un-

·with'

Pros.

49,45

Dow Chemicals

Dupont de Nemours

Twenty Century Fox Film Union Carbide ....... Union Pacific Railway United Aircraft

V.S. Gypsum

V. s. Line "Co.

H.S. Rubbar..

UB. Smelting

U.S. Sterl

Warner Bros.

Westinghouse Electric

West Va. Pulp & Paper Woolworth

4

341

-United Press, 1

Singapore Stock Market

Singapore, Mar. 28. Brokers today quoted the fol

10 lowing stock prices

73

120

Bati Liang Rubber Co.

TAD.

Opening

$1.50

Ga

BritLab

GOTA

Byndicate

42/L

43

Consolidated Tin Sinekern

457%

Ord.

27/34

Continental Out Del,

11992

Crane Co

Fraser & Neovo Ltd. Ord. ....... $1.72

41

Fraser & Neave 71⁄2 cums

Crown Zellerbach

prot

$5.00

Cuban Amer. Bugar

101

Hogkong Manghal Bank-

5015

ing Corp.

$1065

223

Hongkong Tin Eti.'

3/341

Kempas Lld,

$1.00

Lunas Rubber Estates Lad." Malayan Breweries

$9.77

New Berandah Rubhou

$3.30-

Co

$1.55

Peloling Tin

Rames Hotel

$4.35

$2.50

Beuth British Insurance Co.

Ltd.

$27.50

Etralia Trading.

Straits Steamalijp United Engineers

$14.00

Ord.

$8.20

Wearne Bros,

$2.80

Enatman Kodak

El Paso National Ope Eric allroart

Family Finance Corp. Ford Motor General Electric General Foods General Motom Gen. Pub. Util. Glidden, Co.

Goodrich (B. V.) Co. Goodyear Tire Herden Chemical Homalake Mining Ingersoll-Banui

Ltd.

Singapore Cold Storage

xd.--China Mall Speeini.

Let US handle

YOUR PRINTING

Too many proofs mean time waited.. We grasp the point at the onset, and ONE PROOF generally suffices.

After that, our up-to-date automatic presses make short work of the job.

Let us quote for your

requirements.

current

SOUTH CHINA MORNING POST

PRINTING DEPT.

For printing of every description Telephone: 20002