TRADE
THE CHINA MAIL, THURSDAY, APRIL 26, 1956.
and
COMMERCE
COAL WILL BE CHIEF SOURCE OE
ENERGY FOR SOME YEARS
Geneva, Apr. 25.
Coal will probably remain the chief source of energy in the world for many years to come despite the rapid develop- ment of atomic power stations, according to a report published here by the International Labour Organisation.
Chicago Grains Active But Irregular
Chicago, Apr. 25.
at lie cont
The report, which examines favent trends and developments maining Industry, the future prospects not eat and the possible Impact of the development of nuclear energy on the mond for enal
worldwide de-
After discussing forecasts and Plow fur nuclear power development. The report says,
Expand Production
"It is generally agreed that „tom:le energy will not be pro- Grains were active and
diare!
леду substantiel
the irregular on the Board of qumidity
immediate Trade today.
future and that during the nex! few derades it can be expected Strength in rye reflected urge to meet only a part of the in- Canadien
fesyonel for energy export sales of this crensed community
large extent will which reached to which t 1,000,000 bushels during Dejaft have to be met from tradi- past wo days. Ail deliveries of fibrant sources
us the future of the cont
rel Rive Industry dors
uny grounds for cYNEETH,
the contrary, there
Tye at Winnipeg traded at new sezonal highs.
Reports of moisture over areas of the mid-west brought lower | every indication that rond wil prices into corn, oats and de- for a long time to come remain ferred soybenti contracts, tithough | the chief source of energy in the the intter regained sine of the early losses.
were
Whe
future. strong on word of unfavourable weather Kivet the stathwest winter wheat belt.
Exporters this hurting re- ported sales of 700,000 bushels of US wheat 14 Japan, aluru With or t Canastian wheat,
Wheat closer
cents; soybeans
1% cents.
Dushel
22
und
16
work! and that the coal industry must make every enhavour expand its production in order to meet increased demand."
is to be discussed This report
Worker by Government,
delegates from employer leading coal producing nationa at the sixth session of the Inter- national Labour Organisation's Coal Mines Committee, which weets in Istanbul from April 30 to May 12.
The report says that in moal up 2 1 of parts of the world, the past two
Prices per bushel in cents.
Weat, No. 2, red
Closing prices
Spat
May 240 ht
200
July
Sept
Now
2410 20 214- 21011 2191
Corn, No. 2, yellow
19244-15375 3414-
13
13:06
1404
1:40
years have been marked by a constant increase in the produc- tion of coal
UK Exports Fell
The greater need for coal has
the been specially evident in memiser States of the Western European Coal and Steel Com- (Belgium, munity Benelux
Netherlands and Luxein- bourg). France, Italy, the Saar, and Westem Germany--as well as in Britain.
In Britain, where production has not noticeably Increased
years,
it has been necessary
in- considerably to crease imports and reduce ex-
Spot
May
July
Sepi
Nov
3 ta
Ryo
Moy
193
Judy
134
in receni
Oats
MAY
GO
July
01
Soybeans, No. 2. yellow
May
July
Sept
305n 3613-34 200-310
Nov
Jan
Barley
Sixx New York Hour
2001 sack
130-140
porta.
U.S. EXPORTS PENN RAILROAD
ESTIMATE
Washington, Apr. 25.
were
The Census Bureau re. ported today that US ex- Ports in March estimated at $1,550,000,000, up 14 per cent February and 15 per cent Ereater than March, 1955.
from
The preliminary estimate for March, which included aboul 104 million in mill- tary aid shipment, was fre por cent higher than the record monthly total of 51.- 480,000,000 ket Ja Mny. 1952 Military ald ship- ments Jumped about 14 million in March.—United FTC98.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this mora- ing amounted to approximately $300,000, Non quotations || the morning's transactions:
SHARES BUYERS SELLERS SALES
BANKS
¦
SPURT ON
DIVIDEND RAISE
New York, Apr. 25.
Stocks moved in an unsettled fashion today with a handful of special issues providing the features.
Pennsylvania Railroad was the chief allraction when it spuried as directors raised the dividend, I ran up a point ad hoki with turnover in the issue the day's heaviest at 58,700 shares.
South Puerto Rico Sugar Southern National Cos schhern Railway 1Com) standard Brands Standard Oil of Cat Standard Oil of Ind
SECTION
WORLD COTTON
MARKETS
New York, Apr. 25. Cotton futures today moved irregularly lower in
one of the slowest sessions of the year.
18
At the close the list ruled up
to of 1 points. Open thr
prices were up to off d points to up iẞ points.
New Orleans clowed unchanged
2.
Pagè
German Finance Minister Fights
Reserves Claims
Bonn, Apr. 25.
West Germany's tax collector number one, Dr Fritz Schaeffer, is fighting a two-front. war against German and foreign claims on his cash reserves:
The bald,
wiry Finance ing their own houses and the Minister gave an unmediate "no" settlement of debts, to Yugo- when the Allies demanded that clavia. West Germany should go paying for protection by con- tributing to support costs for Allied troops after May & this your.
on
Dr Schaeffer says that if all the tax cuts now before Parlia- ment are adopted, it would cost 3,340 million marks (about £280 million sterling) a year, which he could not make good without borrowing.
Withdraws Capital
Most traders decided to mark i'mo pending 1. Posable awards this week on purchases of raw cotton out of the Gov- emment stocks for export; Congressional developments an bank legislation: 3. Further developments in the now crop gluation.
Independent firmness in July
(West Germany has .since stood out in
otherwise been reported to be prepared to featureless trade. Commission compromise on continental de-
mBI buying | fence support costs.) strengthened July, with part of
When the German partles the demand attracted by the
11 remains to be seen Wilst the with An Cyc wide discount under May
on next year's Parliamentary committees make elections proposed inx cuts, Dof the various tax proposals now. delivery.
Schnüffer agafo said "no."
201,
30
110
104
Standard Oil of NJ Sterling Drug Co. Stokely-Van Comp.
56
65
Other ralla generally were Hrm with gains ranging to 1 points
|
Studebaker-Packard Co Swift & Co.
1863
01%
4812
Texas Ch
13041
401
291
12510
100%
075
0531
27
54
As abscnico
40
вода
2015
ок notices noted to steady the spot month,
<top
dolivery
5715
00
Inots Central, 1% in Nor-Tide Water Am. Oil fujk & Western, a int In Twenty Century Fox F Kansas City Southern. The thuden Carulde group added 6.82 on average
Union Pacific Railway
United Airortasi
U.H. Gypsum
Infurials were off a blt-0.31 | Us. Line Co
on average--as metals, Reels and chemicals in a soft spots, Utilities also dipped i bit.
Of a total 1.100 issues traded 501 were lower. 419 higher.
Turnover amusanted to 2,270.- 000 shares compared with 2,500,000 yesterday.
One of the day's strong spots wis Gulr Oli which ran more than 6 points.
ÂÜ
ле
up
Chrysler and Ford improved
the iiit is
while nitors General Motors fell point on the day's most active trading In
wake of a Senale
subcommitter: report eri- tiesing it sharply.
HK Uw
1370 1683
The
Ear Adin
2m
Ail ww
INSURANCES
Lauderd
SHIPPING
וני
NU
1900.84)
Asia Nav
DOCKS, ETC
20 330 300
20
105 Te 370 13 0 14 10
1007 713 200 37.
K What Dock Provident 101 Wheelock
LAND, ETI
IK Hel UK LAU
11mphrey Really
RUBBER
20 800 2100 4 275
-
Du Pont lost nearly 2 points, Allied Chemical new and Union Carbide around a point cach,
New York Stock Exchange bund volume was $3,980,000.
| VS. Rubber
B. Smetting
117.3. Steel
Warner Bros Wedinghaune Elcetric.. West Va Pulp & Paper....
United Pr
WORLD
RUBBER
MARKETS
New York, Apr. 25. The No. 1 Ros rubber futures today closed 18 to 50 points lower with sales of 271 contracts.
tions
and
d
Open May contracts at the Mart of trading today totalled 104,200 bales, Dealings in the month will end in the noon
Mon May 14.
to
Into Red
before them.
The
Finance Minister's
ponents argue that his depart ment has consistently underes timated its real taxation income, and that the income for the 1934 were on marks
financial year was 290 be
(about £24 million sterling} above the estimate.
while 116w deliveries were more or less neglected.
He pleaded before Parliament, Recent reports emphasised which has the last word, that if backwardness of land prepato-all the proposed cuta
seed germination, passed his budget would with Indications that large areas pustied into the red may have to be replanted.
The Finance Minister admits that his cash reserves reto by 2,000
million marks (about £172 million sterling) in a year
0,080
million marks (about £507 million sterling) by last March 31.
Meanwhile, Parliament bag not waited for a settlement of the Allied support costs argu- ment before beginning to carve up Dr Schaeffer's treasure.
He calculates that pension In- creases already decided wll) cost 1,855 million
marks
(about £138 million sterling) a year. while almost the same rum is carmarked for aid to mining and farming, better civil service pay, mare help to people build-
The certificated
stock over-
night rose 288 bules to a new posting al 11,200 bales.
Volume and open Interest were.
Month
May
Volume 14,300
Open interest
104,300
July
11,900
239,000
Oct
7400
323,000
Dee
17,300
420,000
Mar
7,100
160500
10
The standard contract closed
10 45 points lower with | Oet closing averages sides of seven contracts.
May
12,700
120,000
July
7.100
100.000
200
5.200
Total
$2,100
American Stock Exchange volume was 060,000 shares.
Dow-jones
Switching operations between 503.02 dealers, including some ex- 173.81 changes of July contracts for physical rubber, accounted for a the good part of the activity as terminal market cased with the lower London cables,
13 20 14
were:
12
350. 02
330. (24
30 industrinia
17.40 :45 1.475
20 Tail
15 ultra
BS stocks
13.00 170.62
40 bands
PO.GL
Comm, future price index
155,20 423.70
Prices
A Rubber | 473 159 23.000 r 1.30
UTILITIES
ויי רני
Star Ferry
Yount Ferry
1.80
3000+
221 22.50
500
200
300 22 30
130
102 104
** Light (0) 23.40 22.80
ឆន
35
300 g 22.43
Lizah (N) 100 70 20 933 19.70 137 19.70 30, 30.75 132 30.25 24.30
Mondy's index
Closing
Alden the. Acy. Athed Chemicals .. Ailled Mills Ine
Allis Chalmers
American Airline
す
Eletrie
American Cable &
Bonus His
Radio Corp
10 30 525 or 19 20
Macna Fire Telephone
REM
3.00 2223.00 11.80
American Cyanamide Co Am. Mach. F dry
American Metal
590 14.00 American Smelting
American Tel & Tel
INDUSTRIALS
Cement
349% 3535 300 14 34.70 Metal Indust 170 180 3000 * 1.70 STORES, ET
Dairy
Yangtree Allied
reported
moderate
Agents quantities of shipment offer- 20ings from the Far East but it which possible buyers described as "too high."
prices
1,491,700 bales
NEW YORK
Prices of futures closed today New York Sugar
as follows:
Spot May July
30.000
35,02
33.53-2-45
October
32.27-21
32.38-30
March
32.54
May
32.01-02
July
31.78
October
30.06
·
NEW ORLEANS
Prices of futures closed today
July
October
Deceniber
Marthi
LIVERPOOL
32,23
38.40 35.80 33.27-23
32.30
22.13
32.50
31.20
30.77
Future closings, in pence per
World
closed
Market
New York, Apr. 25.
No. 4 sugar futures unchanged to 2 points higher with sales of 204 can. tracis.
Domestic No. 6 sugar futures closed unchanged to 1 point lower with sales of 80 contracts. both The higher trend in markets continued to reflect the firmer basis for raw sugar. Refiner and other trade buying found sellers п Uttle more hesitant.
124
344
23
Spot No 1 Rss was quoted nominally at 31 centa pound. Futures:
as follows:
tipot
•
Bay
No. 1 Iss
American Tub.
Anaconda Copper
781%
May July
30.40-42
May
July
30.45
October
Sept.
10-01
Armco Steel
Dec
29.52
Annour
Futures:
14 10.20 200
200
10.40 10.30 200 10,30
Baldwin-Lima-Ham.
14
Baltimore & Ohlu
GUNG
Standard contract
Bendix Avtation Corp.
Contract No. 4 (world)
092
212 18.20
Benquet Cons
May
30.30
ib. wore as follows:
May
100 or 11.20
Bethlehem Steet
2017
July
30.33
Old contract
50 6.70 3.35 51% 3000 un
Boeing Airplane
Sepi
20.00
5.40
Darden (The) Cu.
01
Dee
20.40
New controat
May/June July/Aug. Moy/3
|
25,36
July
24,00
Sept.
29.30
►
Oct.
21.70
Burroughs Add Machine
37
Canadian Pagifle It.
2476
May
20.00
Case (3. 3.) Co.
133
Cai. Tractor
672
SINGAPORE
July/Aug. Oct/Nov. Dec/Jan. Mac/Apr. Egyptian Karnalı May/June 12.15
20:50 Mat.
25.40
MAY
23.29
July
25.00
1
Sept.
Celanese Corp.
IT
Spot foents per lb. rob Cuba)
43%
SAO PAULO
Contract No, G
Future closings, in cruzeiros per kilo were as follows
May
30.69
July
32,00
July Sept. Nov. 'Spol-(cents per in., elf" NY
ex-duty)
0.00
5.00
4.07
5.40
33.75
United Press.
34.30
34.15
Watson This has had the effect MISCELLANEOUS af increasing Britain's dollar expenditure.
British coal exports tell from 17,000,000 tons In 1953 to 16,200,000 tons in 1934, Only 6,500,000 tons were exported during the first hair of last year. Miners Leave
the
www
UNFAIR
TRADING
PRACTICES
C. I. T. Financial Corp.
There was some liquidation in 4the rubber today but it was well 122ll absorbed by trade who bought
55cautiously.
491% Future closings were:
No. 1 subber per lb. May
base Manhat. Bank Chrysler Major Coca Cola.****** Colgate-Palmolive Co Commercial Credit Commonwealth Elec Consolidated Exilson Continental Ol of Del.
41
40TH
21416
Crane Ca
Crown Zellerbach
caj
No. 2 rubber per lb. May
Cuban Amer. Sugar
10 No.
No. 3
+
681-061
Diamond Alkoll
Spot rubber unbled
210 Danket crepe
No. 1 pale crepe
65-83 107-109
LONDON
242
Dow Chemlenda Dupont de Nemours Eastman Kocak
El Paso National Gas
Erie Railroad Family Finance Corp.
Coal exports for 1956 are $13 20
being further reduced by the United Prest. British Government to only slightly more than 4,000,000 tons WINNIPEG PRICES
and it is apparent that Britain is Winnipeg. Apr. 25. fast losing her traditional posi-
world's
Canberra, Apr. 25. Prices of grain futures closetition as one of the
major in cents
MT. H. Strong, Director of as coal exporting countries, per bushel
The report says
that in
in Britain the Commonwealth Bureau of Economics, today and in most of the countries of Agricultural the European
Conl and
Steci accused Britain and the United
Ford Motor .... Community, coal production has States of trading practices un- General Electric
General Foods suffered mostly through minors fair to Australia. 2016-ing
General Motors pits to take up other He told the
National Con- Gen. Pub. Üll.
Glidden Co. as well as from
Rural Goodrich (B. F.) vention of the Catholle diMculties.
British trade Goodyear Tyro" the United In
States, coat movement that
practices contain too much old-Heyden Chemical production showed a mirked
Homstake Mining Co. Liberallam and that ingersoll-Rand swing upwards last year after fashioned
Interchentical Corp. falling to alarmingly low levels the American policy is one of inland Steel Co.
"beggar your neighbour." in 1954,
This was due to a
Int'l Businc Machines Int'l Harvester. revival of exports and increased
International Nickel coal consumption by the iron and
International Paper steel industry and power plants.
United Tel & Toi
John-Manville Co. On the other hand, production
Kansas C. Power & Light fell last year, in Canada, Aus
Kennecol Copper tralia and Japan.
Eggett Meyers Tou. Co.
Iollows:
Oala
Mny
HO
July
771
Kyo
May
13326
July
131
Oct.
120
Th
July Oct.
1099/ 10136
4101% 413 35415
Barley
May
Flaxseed
May
July Oot.
Wheat, No. 3, 162 cents; No. 5, 130 cents.
-United Press.
London Foreign Exchange
New York
Montreal Amsterdam Frankfurt Parla
Stockholm
Zurloh
London, Apr. 26. 2.8091-2001. 270-13/10-278-15/10
10.0031-30.001
11.334-1174 900 00
140013-18507) 122712-1227%
-Uruted Press.
Others wero unchanged,
New York Foreign Exchange.
New York, Apr, 29.
Canada England official ....
Ausicall
tur
po-dar futures
Now Zealand South Afrien
Soviet Expansion
סוני
altitudes, policles and behaviour at Britain are equally as represensible as the States dumping policy." Mr Strong said.
83
ז.
Juli Bay on Oct.
Dec. Oct. unquoted
M
In the United States, the 8411-20% (average price of 15/10 middling cotton at 14 designated spot markets was 35,37 cents. Sales totalled 7,743 bales. United Press.
The market was quiet with spot quoted at 20% pence per Ib. Prices:
No. 1. Rm spot
LONDON METAL
PRICES
London, Apr. 25.
The tin market was stendy this afternoon, Other metals were all
General markets, cif basin Ports:steady. Prices closed today in
BEARIZARE
កតាំងពីឆ្នាំ
NEW YORK ORES AND METALS
New York, Apr. 23. Spot prices:
Silver Antimony Tin
904 cenia par ounce
cents per 15, 90.50
cents per lib. Tungsten $4.50
per lb. Beryllum Manganese 5350 Aluulatum, 315
Бегар
Copper
Lead Bleel
$46.48 per tor
octa per lb. ornis per Ib.
33-33.00 cents per lb. 12-12 50 cents per lb. $49.50 per long on
Metal futures prices were unavail-
sterling per long ton os fellows: able today-Unlied PreN.
2014-2074
Ca
Beillement house term:
as June 35% Oct/Dec.
2836-2014
July/Sept.
Jan/Mar.
2263-20
2414-25
0471
40256
MAY June
July
Estate crepe thin May
buyers sellorp
state credo thick
... ungusiod United Press.
Tin
Spot...
70414
3-maruh Copper
263
784
Spot
337
3-month
350
330
Lead and half
Apt.
1113:
110
Júly A
#116
Eine 2nd half
Apr.
2015.
-United Press,
Locws Incorp....
"Expansion of Australian Lockheed Aircraft primary exports are Important Lone Star Cement Co. to the sterling area as a whole Loutville Nashville R. and for that reason should be Lower icin & Sons.
Mesabi Iron Corp. Minnesota Mining Madan Development
In the Soviet Union, increased emphasis is apparently being supporters In Britain, but placed upon the Importance of apparently the powers in Britain developing coat production.
Mr L. G. Katunov, the Soviet do not recognise that. Minister for Foreign Trade, told
Monsanto Chemical Co. Montgomery Ward Motorola Inc.
National Steel Cumu will not be | New York Central
a recent session of the United signs and symptoms on Nations Economic Commission sterling area's dollar reserves, Kor Europe that
the but the problem under present Russian ve-year plan, solved until Australia can ex- the Soviet Union would be pro- port more and mive the sterling ducing 000,000,000 tons of collaren from spending hard to get a year by 1900, China. Moll | dollars.”—Untied Press. Special,
CHICAGO LARD FUTURES
Chicago, Apr, 20.
Lard futures cloand today in
$1,00-11/10
2.001 *** cents per 1b, as follows-
购
15.00
Singapore
Stock Market
Singapore, Apr. 26. Brokers today quoted tho following stock pricva:
Opentnat Batu Lintang Rubber Co.
Ltd.
... $1.03 British Borneo Patroleum
Syndicate.
July
NEW YORK OILS
AND SEEDS
Now York, Apr. 26. Prices of cottonseed oil futures closed fodny in conts per lb, di follows:
"There are already warning
the
National Dairy Prod.
National Cash Hog. “A”
National Lead
1274
43
477/**
56
403%
Consolidated His meliore
Oni.
27/01. Fram & Neave_Ltd., Ord. $1,00 1235 | Fraser & Neave 7%%% cum, 4715 pred.
$9,10
In| Hemalogie VAT. Shinghatta
Banking Corp.
May
2005
July
043 Honakong Tin Sid.
Bept,
Keninas XXA.
$1.50
Oct
23" Tabber Estates Ltd. BITT
Dec.
Kalish Breweries
tubber de
Baftion Hotel
Boutly
Olin Mathieson Olle valors Owen-inois Glam Pacific Gas Elec. Pacing Western Oil Pan American Airways Paramount Pictures Parke Davis Co. Petty J. C, 00: Avers Porn Salt Co
Philip - Morris Procter & Gamble Co. Pamburgh Plate Ginas In the Local Bubticker Industriew #Zaton:Farad Undio, Corporation
abs Stepublje utani. Itbynolda Motal
Exchange Rates
undite all exchan
JR. • dollar. (pen.
2447 |khambetan ruplats (per-106) 24,0 tam
1001 mUnited Press,
Bingap (Straits)
Bhail Dil Co 1800 Saint Reg. Puber 16.20 | Mine)air O
Biraits Th
Steemhip Uplled, Zurineers
Wearne· Brist
Mar.
Mayb
'Balandis contræetx.
18.00
17.83
16.00
19.00
10.00
They also BAY
his polley of building up funds against future defence and other expenditure withdraws capital from economy badly in need of it.- China Mall Special.
an
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