1956-05-03 — Page 9

TRADE

THE CHINA MAIL, THURSDAY, MAY 3, 1956.

and

COMMERCE

Australia Plans To Develop N. Territory

WORLD

RUBBER

MARKETS RICE, TOBACCO & HARDY

New York, May 2. The

futurca

No. 1 Ros rubber today

contract

closed 20 to 35 points bigher with sales of 109

contracts.

The standard

contract closed

5 points higher to 5 points lower with no mules.

Steadiness reflected a nek of aggressive selling pressure and

higher relig

market:

of the overseas switch- Intra-dealer

ing operations accounted for A

pari

September - July oxchange

20 and

Shipment

of the

trading.

with

marte

at

difference. Agents

reported offerings

22 points

fair-sized the from

to

interest

Brokers

Far East, but at prices low high domestle buyers. figured. (TL a parity,

Singapore With some

to

London

while cent

higher.

May

cent above our market,

SUM

who alut

A new

BEEF CATTLE

Canberra, May 2.

assault with plough and stockwhip is being planned on Australia's great Northern Territory,

Chicago Grain

Futures Steady To Weak

Chicago, May 2. Gran futures prices were aleudy to weak on the Board of Trade today.

Aler

Soybeans futures during the past 24 hours have met both the low limit-bid of 10 high and shipmently arrival joents a bushel indicated Rimand 30

yesterday'a extreme conta a pound, eost and freight, high closing with May, Juty and September deliveries at the dime about 31 cels landed,

profit-taking Factory

interest locally reper bushel limit,

session today mained dorman with spot No,

with my bean July contruels off 10 cents Ca bushel.

O

Ras tei E

pount.

30

Futures

No, 1 Rag

13

May

July

September

December

March

May

cerats

30 15-20

8089

1

during the early

sent the price down

Whoa! Clusey! off 1% to 4 conls. soybeans down 10 cents-- [the daily permissible limit.

CLOSING PRICES Prices por bushel in Gents: Wheat, No. 2, red

2221-1

22712 2211%

3 Its alms will be

1. Tu

cultivate suitable arras of the Territory's Wkte open spaces with crops site as rice tobacco; and

WORLD

COTTON MARKETS

New York, May 2. Cotton futures today extended the quiet and

| narrowly irregular trading pattern adopted more than a week ago.

Closing prices ruled 4 points higher to 13 points lowor. The market opened unchanged to up 6 points. Now Oleans closed

been grows in varying acreages off 12 to up 3 points.

sinces 1800.

Dates are a subsidiary crop in

Australian which three

states the and And

Northern Territory could combine until all domestic needs were met, Mr Wise said. 2. To populate likely Dates, though grown spasmodi-

grazing grounds with cally ID

States for of hardy years, are at present almost all

Imported.

stral new beef cattle,

some

New Blood

50

Apart from mining rich de- posits of uranium, bauxite and Topper, the staple industry of the Territory is cattle-raising. Mr Wise sugggested importing The Territory covers 23,200 date shoots for testy west of square miles- more than Ave Alice Springs in central Aus-

mes the ac

l Britain tralia and in Queensland, New ranging from orld desert to South Wales and Western Aus- | grasslunds and Tush tropleni traktu.

velation drenched ench year by 150 Inches of rain

Recommendations

Its develop

in the far

Since the days of the great cattle treks from the Northern Territory in the 1880's, like those depleted in the Aus- tration Alm "The Overlanders". The problem of

little has been done to improve F. J. S Wise, ond build up beef ment led Mr Northern Territory administrator, | north. ei rix a threw months' last year of areas of the United States and South Africa which have climates dard physical prices characteristics similar to those of the Territory.

tour

New blood has been introduced at a few eattle statins but low and high costs to the isolated area, and what Mr Wise called "abuse of land and mis- numerous management at herds", recommendations | brought something like stagnancy placed before the to the industry. Representatives in

with

Absence of Information [01 outcome of bids submitted last week for purchases out of the Government surplus raw cotton stocks continued to shackle nav market interest

wcra

Farm

legislation uncertain- ties, plus abated activity in the textile market, and a quiet de- mand for po cotton, other trading handicaps.

Part of the speculative talent switched

the reportedly

to

taster - moving markets like soybeans, grains,

coffee and

Cocon

Chief Interest

again centred

in the nearby deliveries. Spot May contracts

edged up to

new high for the Season еп

light covering

of

in the absence

delivery notices.

Open May contracts at the start of trading today totalled 128,000 bales. The certiileated stock increased 78 bates to 11,834 bates.

SECTION

Alleged Unfair Practices

Tho

Now York: May 2."

Anti-trust Division Department of

received

the Justice complaint

from American importers of foreign autos alleging certain unfair practica by Valkswagen In the sale and distribu- tion of its German-made

дов

now unter

A spokesman for the Department said. List the complaint consideration." No further Information was availablo at this time,

However, it was learned that A preliminary hearing was held about iwe month ago by the Anti-trust Division at which evidence was presented atjøring that Volkswagen was acting in restraint of trade in deny- Ing dealerships to ocrtain Importers.

The petition for govern- mental action was presented by the National Imported Car Dealers

Association, representing about American dealer, through- out the United States,— United PreER.

400

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Business dona on -the Hongkong Stock Exchange this morning amounted approxi- bale, mately $460,000, Noon quota- orders tions and the moralng's trans-

nctions: SHARES BUYERS BELLERS 9ALES

July contracts were alternate- ly steady and unsettled over a

of 00

cents ( range responding

smal: either way. Volume were;

Dock

30 1500 375,

75 + 13.30 Wheelock 8.05 1.50 1000 de 0,50 2000 @ 183

May July September December

to

Apot

and

open

interest

DANKS

siny 233,

Standard contract

HK Bank...

1080

July

Month

Volume

Open interest

Boat Asia... 230

Brut

20.85

Nov

!

31775

Corn, No. 2, yellow

157-160 Howe

He returned statistics und which he

love

May

10,000

120,100

INSURANCES

July

37.100

202,100

Vadon

21000

Ock,

22.300

419,600

DOCKS, ETC.

Doc.

10,000

170.000

K. Wharf ...

of

Mar

10,100

108,000

20 10

Jub

150)

Begri

1429

SINGAPORE

Μον

1454L

Jan

The market steadied a short- covering and some buying who there was possibility of planta-

labour

It ye

Mov

120

July

tz-!

Gala

troubly ปลาหนTY

May

July

001%

No. 1 rubber per

lt May fans -50%

Boy beans, No. 2, yollow

Canberra.

In touring both Тохда and Rice, Mr Wise declared in his South Africa, Mr report, could change the whole "deeply impressed" with achieve Total economy of the Northern Terri- | menis in "the breeding of cattle

for unfavourable environments." tory.

This crop was grown success- fully in a small way on black

near Darwin soll plains

more than 30 years ago,

May

0100

170,200

Provident (0)

Wise was

July

2,000

100,000

Oct.

700

7200

100,000 1,607,000 bales

-United Pres

LAND, ETC.

Xx Hotel

13.80 13.00 ·

HK Land.

NEW YORK

Hardy Strains

Prices of futures closed today

Resi

Humphreys

30.007 35.97-98

RUBBER

33.79-17 UTILITIES

June 034-154)

Spot

33.24

July unquoted

2014

May

Ste Ferry..

Jaely

Scrit

B3-46

Nov

Jour

63.05

Harley

107-109

Sput

LONDON

was quiet with

Lisa

Future closings ware:

No. Z rubber per b May 07.87

No. 3

No. 1

Spot rubber unbaled

Blanket grepe

No pale crope

The market

spot quoted at 20% pence per

lb. Prices:

No. A tot

Settlement house fest

New York flour

200 lb. sapk.

In recent years, the Territory adininistration and the Common- wealth Scientific and Industrial Research Organisation have been

ΠΟΤΟΣΥ

34.39

32.47

31.00

I as follows:

Spot He spotlighted areas of the July Mury northwestern coastal plains of October the Territory and

December the border

March in Western

Australia May whore the present small buffalo July

October well-planned cattle"

fattening project through importing new, Prices of futures closed today hardy strains by actual stock or by artificial insemination.

probing its commercial possi-industry could be replaced try a

bilities.

An American syndicate head-

Allen by

Chase

130-1401

$13.00

ed

WINNIPEG PRICES

Winnipeg, Moy 2. Prices of grain fülures etosei Today In cents per bushet ng

26-20!

follows:

June

25-20

July/Sept

2015-2542

OATH

Oct/Dre

231-2931

May

37

Jan/Mar

2447-247%

July

Genoral markets, of ben port,

Oct

7.31

Any

2011-2546 Dec

June July

251%-25% Rye

24-4-201 May

100%

Estate crepe thin May 30

Thick

July

12716

JEZ

Del

1:237%

Harley

May

116

Prices

July

110%

Out

1041

per

Flaxseed

2.30 nom.

2.48 man.

2.46 nom.

AMSTERDAM

The market was easy.

closed today in gulders

kilogram, cif May as follows:

No. 1 rubber

No. Z rubber

No,

rubber

No. 1 crepe

4131,

of

Angeles, in association with the Australian cor ern, of Territory Rico Enterprises Pty Ltd, have: claimed stccessful tests at quaintly-named Humpty Duo,

near Darwin.

Last year, they plans

announced

to establish an industry within the next 16 years with a production potential of £A10- 000,000 (£8,000,000 sterling).

Possibilities

The syndicate ran into a num- ber of difficulties, one boing the enthusiastic appetite of the local 41510-24 | Tatns for the new flora. Wild 356

geese ato two deres of one 30- acre project in one day.

Employees fought

May July Oct. Wheat, No, 3, 162 cents; No. United Press. 6. 138 cuts,-Unlled Press.

2.88 noin.

Helps

Cheap Money

French Firms

Paris, May 2.

back with

explosives, lanterns and fares-

and eventually won the battle.

-

NEW ORLEANS

as follows:

Spot

а

May Juty

Mr Wisc recommended Hereford Shorthorn cross developed in the

Transvaal China Mail Special.

Trading

Brisk

On

London

Market

October Deoriber March

May July

October

LIVERPOOL

ab, were as follows:

35.40

30.85

Future closings, in pence per

| Old contract May/June July/Aug.

Now contract May/June

July/Aug

Oct/Nav

Dec./Jan.

Mar/Apr

Egyptian Karnak May/June

SAO PAULO

63 6314 40 @ 03

1100 63% 17.40

1.475 1.50 2000 @ 1.475

A Hubbor .. 1,40

BOOD 1.425

Tram. 22.70 22.90 1000 « 22.00

13

Y'matt Forry 102 103

C. Light (0)

хр ....... 22.70 23.00 3000 6 22.00

C. Light (N)

XD Electric

19.00

200 22,00

000 21.80

2000 * 10,00

.... 3045 31 1276 Esta 14 10.80 29.10 Tearphone

23 23.29

Rs.12.20

INDUSTRIALS

Cement..... STORES, ETC.

05 30

Dairy

16.10 10.30 Watson .... 10.00 11.10

COTTONS

Textile Corp. 5.40 5.45 MISCELLANEOUS

Yangiate.... 6.79

Allied

23.43

24.95

30.25

37.10

23,20

24.50

50.50

Future closings, in pruzeiros per kilo were as follows:

May London, May 2. Stocks opened

But searing goese from the crop, trading account fogether with watching for stray London Exchange today on buffalo, dingos (wild dogs) and a sunker, kept

busy

cat

brisk note

guards constantly, dustrials, oils, and' British /at 14 designated

KARACHI

11.20

...... 6.40 5.43

31

4037 13.30 G00 or 12.20

50 3514

Singapore

Stock Market

Singapore, May 3. Brokers today

quoted the following stock prices:

Opening

$1,55

Page

Aircrafts Make Late Spurt

On Wall Street

New York, May 2.

A late spurt in aircrafts

and higher

prices for a long list of selected issues featured an irregular, moderately active stock market today.

Alrcrafts

had gains running, Sony Mobilod close to 2 points to Boeing, standard Oll of Cal.

Standard Brands Douglas, North American Avia- Standard Ol of Ind. tlon, General Glenn Martin.

Dynamics and Standard Oil of NJ

Sterling Drug Co. Stokely-Van Camp. Studebaker-Packart Corp. Bwift & Co.

Olls had features in Standard of Ohio, which climbed more than 4, Amerada, up more then

3 and Gulf and Cities Service, each gaining one point.

Gams among tyres ranged points in Ex-Cell-0. Goodrich Tyre, more than 3.

The

Texas Co

Union Carbide Union Pacife hallway United Alreraft Us, Gypsum UB. Rubber

2 UA, Smelling

US Steel

Warner Bros. Westinghouse Electric xd

averages showed - Woolworth dustrial stocks down 1.18 today. Out

of a total

1,187 Issues

trized, 455 were lower. Trading

1109

United Press

Lotalled 2,440.000 shares for the New York Foreign

with

session compared with 2,800,000 yesterday. Steels

WOTE ensier Armico and Inland off around point each, US Steel down fractionally.

Stock Exchange

New York

American

bond volume was $3,780,000.

Stock Exchange volume was 1,100,000 shares.

closing averages

20 raila

Dow Jones

were;

30 industrinia

15 utilities

45 stocks

40 bonds

Comm. spot price index Moody's index

Comm, future price index

Closing Prices

Alden Inc. Aty. Allied Chemicala Allis Chalmera American Airine American Metel American Smelting. American Tol & Tel American Tob. "B' Anaconda Copper Armco Steal Armour Ballmore "Óhio' Benguet Cons Bethlehem Steel Canadian Pacific R. Cham Mahat. Dank Cluster Motors Coca Cola

Colgate-Palmolive Co. Commercial Credit Commonwealth Eleo. Controlidated Edition Crane C Crown Zellorbach Cuban Amer. Eugar Diamond Alkali Dow Chemicals Dupont de Nemours Easkinen Kornk Ford Motor

General Electate

General Foodi General Motors

Catty Oll

Glidden Co.

Condrich (B. F.) Co. Goodyear Tiro

Heyden Chemical Homatake Mining Co. Ingersoll-Rand

Int'l Business Machines Int'l Harvester ...... international Nickel Int'l Tel & Tel

Kan C. Power & Light Kennecott Copper Lockheed Atremit Loews Incorp. Lone Star Cement Co. Ainnesota Mbing .... Mission Development Montgomery Ward..... National Cash Reg: "A" National Lead..! New York Central Olio Mattilerem Otis Elevators

Pacific Gas & Eloc. Pan American Airways Paramount Pictures Farke Davis Co.

Pittsburg Plate Gigss

July

32.70

оп

new the

Out,

34.50

Dec.

34,90

Mar

33.00

In the US the avorage with in- price of 15/16 middling cotion spot markets was 35.41 cents. Sales totalled.

Batu Lintang Rubber Co.

Luh

British Borneo Petroleum

Syndicate

Blogkong

50/ Consolidated in Smetters

Ond.

20/- Fraper & Neave Ltd, Ord. $1.07 Fraser & Neave 74 cum.

pref.

$3.70

Banking Corp.

$000 Hongkong Tin Ltd.

7d $1.70 ltd Lunas Rubber Estates Lid, 0.77 | Malayan Breweries w

$1.20

Lud.

Penn, Salt Co.

Shoghal

Radio Corporation Hepublic Steel

Beyhalds Metal

Sinclair Oll

$1.00

Singapore Cold Storaga Bouth British Insurance Co.

_LIA. Straits Trading

$3.52 NG

$142

-$20,50

$11.50

$2.73

-China, Mall Special

Mr Wise urged, in his report, Government_stocks leading |4, 373 bales. close co-operallon with Ameri-

a modest advance. oficials irs investigating

The market today was a bit commercial rice pasibilities, ex- Gains of ore and two shillings excited and spurted more dve tensive soil surveys and an were fairly numerous among the rupees because of China's buy- examination of world markets. industrials. Department store ing, last night, It was reported

A slepping-up of tobacco trials, under Irrigation, support, when

New Serendah Rubber Co. present shares and electrical issues found that China last night and today

their has

bought moro than 90,000 was also advocated by Mr Wise leaders up two shillings sixpence bales of raw cotton mostly NT affles Hotel***** Tobacco has been grown in and more.

roller ginned. fluctuating quantities in Aus-

OILS STEADY

Comparatively cheap money at home has been a great asset to French engineering firms participating in international tenders during the past few months, according to industry sources. tralle for more than 70 years,

lowest

could

Commenting on a series of | France had one of the contracts obtained by France discount rates in Europe. Finlard, Brazil, "Mexico, In- French manufacturers donesia and the Middle East in offer customers credits extending are "ens of thousands of acres

was small and generally designed only to offret special handicaps in the field of taxation and social charges, they stated.

wero

Inroads

some of

some of thom

Engic

Japan too, was in the market for small lots of 4F, and local

Prices closed today in rupees.

maund as follows: AP Bind roller giy

05/0 1807 Sind railer gin ...

DI/IL saw gin

03/0 2007 Punjab roller gün.... $7/JA 104/5 www gin,

United Fress.

Petaling Tin Ltd.

Steamship Välied Engineern Ord. Wsamo Bros.

New York Sugar

Market

Now York, May 2. World No 4 sugar, futures

India-Russia closed today unchanged to 2

chlefly in Queensland, where

6,000 acres over

have treen

Oils held steady yesterday's cotton. closing leyols, planted in recent years.

Ncor Darwin,

Mr Wise said, highs for the year. Royal Dutch Per

added about £% for a new highi: the face of strong foreign com- up to five years at about,

of ideal reddish-brown

£76. soil

British Petroleum, petition, the sources denied that percent under

and, Canadien tee offering "at very vest prospect of Burmah various schertes successful tobacco production."

wore other fentures. this success was due mainly to set up in co-operation with the Government subsidios. Direct Treasury. These. terms compared Government nid

Government stocks showed a to exporters favourably with those offered

by foreign competitors.

long list of gains, mostly around £1⁄4 and £3⁄4. Moreover. exporters helped by guarantees offered by

He had learned, he said, that the Compagnie

an increase in world

Foreign bends were mixed in tobacco Franculse

consumption is likely and "come quiet dealings. Young 'Assurance pour le Commerce producing countries will make were major casualties in the Extoricur • (COFACE). autonomous institution backed by joyed by the United States."

Inroads into markets now - German section, tumbling as

much as £2. On the other hand the post- the Treasury. tion of the industry had

Free State Godulá fentured a Prospools for cotton, on the firm roction of gold stares, and

· Im- proved considerably as a result

Worked Smoothly other hand, should, ho said, be of extensive modernisation and

treated with "great caution" coppers posted a few advances,

after rationallaation. In addition, the

The

dull opening, Dollar coverage uffered by since there is a "considerable stocks closed lower-United movement of prices in Europę |COFACE varled

gerious Press according to surplus which is a during the past dow years had whether the client was a pri conomic and political Worry worked in Franco's favour, nace vate dem or a goverment enn the United States.

Easy Terms

Includiost

gainst default.

de

quarantees years,"

A

Loans

Exchange In the credit continuation of experiments now

Shipping Service

points higher with sales of 47 contracts,

The domestic No. 6 sugar futures closed unchanged to 1 point higher with sales of DD contracta.

Both markets ruled quiet and Bombay, May 2 steady in company "with the The arrival in Bombay of the raw situation, as small trado Saviot higher Kranador on buying orders predominated. Tuesday. eight mailed the Futures: inauguration of the shipping oor-Content No. 4 (world) Vico bobwodn India and the May Soviet Union,

July

rowing the gap between her terprise. The Inter could obtain As it might be useful to have London Foreign 0 Kraanadar and six other quotations and those of her wider coverage then private crop data ΠΟΥ on future main competitors particularly firms, Britain aral Germany.

bo in repommended But comparatively easy credit feld, COFACE covered up to 80 under way in the Kaibering area forms were probably the big per cont of loons to customers · 200-miles "southanat "of Darwin | New York" stest advantage

So far, the inprince scheme following the French mammacturers, porticu had worked smoothly without

enjoyed by

Iarly sinon the recent incrosses causing, sorimas loves to the t

Pelle coquita ahould be passed / in discount rates in a number of Fresatry, in whom the ultimele, on to all Australian palette

countries, the spurentaraadis Atraspormiblity tested, the sounds growing car cotton.

3 par

oopt, the Bank of., added, China. Mail Epecial, Queena and, where

Spybot Vokaela wine oporated [belwom," the two countrion fr writhin recently

Indilar. Hilpe will also

Boylet

Union to Inil

Bombay about the midle of this

Bept.

ib.

$12.73

170.14

05,10

181.00

Exchange

England official 2.807

30-day'

New York, May.

fitures 2.30-

00-day futures 2.70

New Zealandi

2014

9.79-10/10

South Africa

Belgium

Chile

0200-7/10

United Press.

Exchange Rates

Busines unofficial

was done in the local exchange market this morning at the following rates:- 96.00 US dollar (por 61) 154.22 Sterling notes (per 1) 104.28 Australian notes (per £1) 419,30

Indonesian rupiah (per 100) Blam Uical (per 100) Bingapore (Siraita)

0.84

15.54

12.00

18.40

20.30

1.32

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