1956-06-12 — Page 9

Page

UK Footwear Exports

London, June 11. Britain last year sent 7.9 million pairs of bools and shoes to 128 counties, thus maintaining her post- flon as the world's largest exporter of footwear.

These exporte were valued at 29 million, 8 per cent higher than in 1954, socording to the of the Bri- sunnal report tish Footwear Manniso- turmey Federation.

An extra 200,000 pairs were sent to the US and Canada during 1955, where earningy expanded by 850,- 000 dollars to 6,73 million dollare.

THE CHINA MAIL, TUESDAY, JUNE 12, 1956,

TRADE and

COMMERCE SECTION

Texas Company Creates

Speculative

Buying Of

A Stir

WORLD RUBBER

Trinidad Oil BID FOR TRINIDAD MARKETS

London, June 11. Speculative buying of Trinidad Oil' shares fex- drab tured an otherwise session of the London Ex- change today.

Hopes that the British Government will allow Texas Co of the US to press its bid to take over the company brought demand to Trinidad Õli. active The stock closed

six shillings

New York Sugar higher on the day.

Market

New York, June 11. World No. 4

futures sugar today closed 1 point higher to 1 point lower with soles of 30 contracts.

The domestic No, 6 sugar futures clodd unchanged t 1 point higher with sales of one contract,

Trading remained quiet in both markets pending develop- ments in

the raw

markets. futures:

Contruct No. 4

July

Aeptember

Detoter

and tenned

3.3

3.34

1.37

Marci

May

Juty

3.20 324 3,20

September

324

Spot cents per 4b, foh Cum) 3,37

Contract No. 6

July

11.5.2

September

354

Novemb

657

March

0.00

United Press.

Spot-(cenia por ab. cf NY

ex-duty)

But the main Usi suffered lack of interest and small losses

at numerous

the close

with

were Industrial Imperial and Hudrous Bay oft fractions.

OIL HAS

DOUBLE VALUE

From Ronald Boxall

London, June 11.

i

New York, June 11." The No. 1 Rss rubber futures today closed 97 to 120 points lower with sales of 168 contracts.

The standardi contract closed 110 to 150 points lower with sales of three contraeta

Closing price were,

No. 1 B

July Beptember

23.00 20.80

December

25.73

Standard contraei July

28.26

September

20.60

20.00

March May July

230

$1,40 21.40

trend

The American bid for control of the Trinidad Oil Company has been dissected for the last vestiges of economic and hemical Univer political significance. But when the final bor

chapter of this strange affair comes to be written it may be found that it was economic or psychological rather than political forces that decided the issue.

Rolls-Royce dropped more than

a shilling, British Governments

dull suki wore

finished with scattered small decline),

ROYAL DUTCH WEAK

The

Oile were inclined lower. Royal Dutch was a weak spot when

fact is, of course, that give it additional resources out- ride the United States and also an American company

valuable outside the politically troubled Commonwealth next which is Middle East.

More thre that Transport

Trinidad's vital to its would give also,

incklentally,

and Dollar stocke finished with

strurity-the economic fost rundng to

about 2 podlijent factors are paramount. line with Wall Streets Friday And massive arguments have setback triggered by President been paraded on each of these scores to back demands that the the Government should stop deri going through.

in the group until a pre-closing secka control of A

rally restored a £1 loss. Shell

dipped.

Eisenhower's Vineze.

t few

God shares managed advances but coppers WETO on

van Difur.

storms of Foreign bonus WCTC mixed But the great Gains appeared among Japanese | protest that this bid has aroused Hiene but Germans for the most in all sections of the Press and part were lower-Unibod Press. on both sides of Parliament cannot be explained only in terms of economies and politics. It is is a large part psycholo- gicol.

Wall Street Stocks Recover With Ike

By Dorothea Brooks

New York, June 11.

Stocks made good recovery progress today as President Eisenhower's doctors reported his con- dition "excellent" and optimism grew that his operation will not affect his decision to run for re- election.

In

All major groups Joined the rise lifting the averages substantially, boosting individual

prices a point to two peluts or more and wiping out about half of Friday's over-all loss.

Initial trading was heavy

of orders Friday's lake recovery move.

a carry-over

Celanese Corp. C.LT. Financial Corp. Chase Mhat Bank Chenler Motor Colgate-Paimolive Co. Commercial Credis

Commonwealth Bloc. Consolidated Edison

44

40

M4

65%

404%

on | Continental Dil qt. Dol from Coathe Co.

Crown Zallarboch

?

20

18

Volume lightened progressive. Cuban Amer. Sugar

ly, however, and turnover

Diamond Mal

for Dow Chemicals

the day totalled only 2,000,000 Dupont de Nemours

Eastman Kodal

and with Friday's 3,030,- Pass National Gas

compared

Krie Rakroad ........

Friday at the Family Flancs Corp.

share

total. The loss on depth of the selling amounted to some 5 billion on the value of all listed shares. This was reduced by 2 billion in the late upswing and another 1.5 billion today.

Steels Strong

Sicels were strong performers, indications reflecting in part there may be an early settle-

Industry ment in the negotiations. Guias rasged to

wage

Ford Motor ..... Ceral Electric

General Food General Motons G Pub. UNI Getty Of

Glidden Co. Goodrich (DF) O Goodyear Tico Hegden Chemical Homatake Mining Co. Inges oli-Ranzi. Inland Steel Co. Interchonics Che

Buchess Machloes Int Harvester International Nickel International P

4 points in Inland, with Beth-Int Tel & Tel

lehem and US Steel up a point John-Manville Co.

or more,

Oils ran up gains of as much es B4 points in Richfeld, Chemicals improvement

to more than

Pont

Kat C. Power & Light

Kennecol Copper

at Mayors Tob.

Lockheed Aircraft

Loews Incorp.

STL-Lone Star Cement Ca

2 points in Du Louville & Neshville il

WELS

Lowenstein Sorul Mesabi Iron Corp.

Industrials picked up 412 on stinssola. Minke average while the avenge galos Midon Development

malis *for

1.83,

even Montgomery Ward

Motorola Ine, wider on a percentage basis. -

National Cash Reg, "A Of a total 1,130, Issues appear National Dairy Prod.

the tape, 787 were National and

higher, only 195 lower.

New York

Nation! Steel Corp. New York Central

Stock Exchange Olin Mathieson

bond volume was $3,000,000.

American

Olis Elevators

· Owen-XUbiode 131mara

Stock Exchange Packs Gas de Floo.

volume was 940,000 shares.

Pa American Airways Paramount Pictures

Dow Jones closing averages Parka Davis Co.

were:

30 industrial

BO TRILE

1 utiles

3000

40 bonde

Copin, future price listen .. Commm, spot. price index a

Closing Prices

Aldere. Acy,

Allied Chemicals

Allied. Mila Inc.

Allis Chalm@TA

Amerietes Airšinis

American Cables de Indio"

Americas, CyaORTLO

Am. Mach de Fidey.

American Metal American Smaltingg American Tel de Tel American, Tola. "B”

mecida Copper

Armor

Baldwin-Laryasztam, nattimore, d ̈Ohio Pengus Cone

Bachaly, Strai

Boxing AirpoMEN ·

Co

Zander (Ch6) ON Berooghe_Ada Minhing Code Pecario it. Tam Des Treasur

t

Penny J. C. Co.

balt Co. Port 47041 | Philip Morris 163.50 Procter & Gamble Co. 45.58 | Prasburgh Plate Glenn 171.88 Publicker Zodustries.

D014 | Porn Q

152.50 Radio Corporation 100.54 | Tepublic Steri

∙101

23

Daynalde Metal

Sball Ou Co.

Bain Des Paper

Binclair Oi

Bocony Mobilesi'

Bouth Puerto Rico --Sugar 11111⁄2 | Nouthern National Gas

Bouthes Fallway (Dom.

Blandad. Brenda 23-11 Standard Oil de Ca).

614 | Mandard_Oli of_NY.

Bertie Drug Ca

2773 | Bbokomly-Van, Cardy Studebeloer-Packard

2701, Taman Co. (rienc))

Twenty Century Food Film

· 7535 | Unton: Cortide

1996 | Union, Paciño. Baikwacy

13% UM Bypakn

206

ST

5011

翻

45%

*

For years a large section of the Press and a strong minority of the Conservative Party has convinco the been trying to British people that the Common. wealth is the greatest ecoco mic powt in the world

would take tho Lt only they

But trouble to develop "It. their argumente have fallen on deaf ears.

City Startled

Canadian of industry.

But the

The

weakening reflected hedge selling and realising by some of last week's buyms coming in the wake of a lower trend at London and stiffening resistance by factories higher prices in the spot markept,

to

Shipment offerings wene stake in the rapidly developing ported in moderate quantity but at prices unattractive to local buyers, most important of oil it would

Spot No. 1 Rss were quoted give it control at the Regent Oll

20 Company which distributes the nominally

cents Trinidad Oil Company's pro-pound. ducts in Britain,

Three Reasons

The position then would be American capital would control the biggest single industry in a British colony: the United States would micrease its already large interest in Caradian oil interest and Britadors alender

be would

correspondingly reduced;

American comTI – pantes would control nearly half of the oil distributing business in Britain.

para

uber

Here are -three- powerful TEEDISI why the Government may wish to keep the Trinidad ON Company

British "There are control.

others equally compelling po

the political siche, And the means are not lacking if they decide to withhold their consent to the

Then along comes Mr Gus Long and his Texas Oil Com-deal. pany with a bid of $177 million for the control of the Trinidad 011 Company The City is startled.

By oil busty standards the Trinidad орого-

modest. tion to comparatively mode company which cause it for gass The

double American bid is

Under the Articles of Associa- tion of the Trididiä. Oil Com- pany the Governor of Trinidad's permission must be given to change in ownership et

Landone Stock Exchange

out of British. .control. refuse this permission

He can

he

valuation of

缨 the company. Questions are asked in Parika regards a change as contrary to ment....the Press adds its voice that principle of lease of the olf

292 | Janda.

to clamour for Government intervention and many ordinary

British citizens learn for the

This is not the only menDS open to the British Goverment

first time the Trinidad company it wishes to stop the deal

is an oil producer of some im- purtance.

This is where the psychology comes in If the Texas com~ pany's bid had been nearer the City's valuation of the Trinidad now. would not concern the

The stir. have created such 04% financial community would no

doubt, have been more than Little interested and one or two member of Parliament would have expressed indignation. But the mans of the British people would probably never have heard about it.

50

400

}

10

LONDON

•

The market was steady with spot at 22.18/10 pence per lb. Prices:

No. 1 1 spot

Settlement house teren:

July Anusk September

Oct/Dec. July/Sept.

23-23-16

2294-221

231-03

Apr/Jung

GOODRICH PLANT WELL ADVANCED

The

London, June 11.

Financial: Timer industry

science and родцы mild hero · today construction, la well mi- vanoed at the Goodrich Golf chemicals: plant at Avon Lake, Ohle, where the company will produce syntheile "natural" rubber. The plant should be in production by the end of the President

to The company claims

In have.

the produced laboratory the true malo. cule of tree rubber. Thin'is wald to be really the baso for natural rubber and not of a synthetic mola as GRS. The dew product is called Ameripot SN American Colymerization

Poly

mybilsekio, natural,

Haw materials have not been dilwelosed, but it is

toyo they are petro chemicals and not styrene or butadiene

The company belloves li can produce lis man-made competitive natural - st prices with higher grades of plantation rubber- China Mail Special,

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Business done on the Hong- This Stock Exchange kong morning nimounted to appro- ximately $728,000. Noon quota- tions and the morning's Trans- actions:

Shares Bayers Belters Axles

DANKS

General markets, clf basis. June July August

Estale crepe this June 224, thick Lombard

SHUPING Whoelod

unuated.

AMSTERDAME

HK Bank Dont INSURANCES

1161 1080

970

100 @

<~9.20; 9.85- 1000. @ .9.33

·DS BEFAL

03.1415 1479

500

14 14:33, 500-13.30

3300 9 100 é 140, 2413

VAD 1470

1.07

VILLEVES Tram...... 22.00 100 Yaunot

110

The market was steady. Prices | Dock Prov today in guilders par AND, ETC. closed kilogram, cit July as follows: Hi Hotel

1.20 buyers | SEIC, Lamel 219 buyers | Realty

No. 1 rubber

No. 3 rubber

No, 3 rühber No. & crepe

Singapore prices were able,--United Proar.

1.18 buyer KUBEL 3.30 buyers

not avail- Trust)

Singapore

Stock Market

Singapore, Jime 12. Brokers today quoted the fol lowing stock prices ·

Opening Batu Lintang Rubber Co. Ltd. $1.35

Petroleum British Boned

Byndicate Consolidated

Ord

Telephone 3340

*** DIDINERO | 409/03

(0) 12.30 (N)

Electric

P

Bonus Ris.

Rt. 19,30 12.50

INDUSTRIALS

28/30

$1.47

Rogle

3014 3624

11.70

33.79

Fraser de Neave Ltd. 714*%

cum, pret. man

$70

0.30

Lures Rubbur Kentén. Ltd. Filmowrk Erowerker d

1.67 0.76

Near Beradab "Rubber

Ltd

$2,459 Yengine

#2.60:

STORES, ETC.

18,40185 1000 @ 1040 Dokry

100 € 20.00 100 11.30 Watson .. 11.30 13 COTTONE

5,40 7.43 7.80 500 Q 7.30 6.00 7.10

835 5.30

Smel

the Trotary's consent is Deeded before my securities registered in the United King-Framer & Neave Ltd. and dom can be sold to foreigners. Its consent is also needed before commany registered in, the United Kingdom can remove its domicile elsewhere,

Temptation

nood Shaghad

log, Cargo

Hongkong Tin LAL Kenge Ltd.

Patating Ti Raffles. Hotel

marence Co.

· 166. Straits Teaching, Straits Bbangómidp United Enginners Oed,

Before it, usem any of its pre-spore Cold Stompe ventative powers, however, the South British British Government will want to asburo faelf of two points: First, what the effect of the Instead Mr Long offered twice ale of the Trinidad Qul Com-Wem Bros.

to what the Trinidad company is pany American Interests worth on the Stock Exchange would live on the economy of was the colony and welfare of its books every newspaper in the country,

and the nowe

•

Chion Malli Special.

splashed on the front page of people, secondly, what effect its| LONDON METAL

The inherent British suspicion can attitude towards increased

rejection would have on Ameri

British Investment United States,

wwhat

to 1p

of large sums of money was aroused and the question in mediately asked was: To these Americans now!

Safe Bet

The litude of the British public is overwhelmingly against the deal going through. But you asked the first Briton you saw on the street why he was opposed to 18 he wouldn't talk 60% about oconomies or politice or He wukt probably say: "If it's worth $177 million to the Americans it is worth ai least that much to us. So let's

defence

· And it in ́a-pretty safe bet 50% that the Government in think

ing along the same lines,

"』

One thing is certain. Government con, !£££t welshabe," prevent the Trinidad Of Com

gan khands. Andy Bora

The Texas mat kalcidining 81.77 rofilícns. produced; for tho Nine

complex than:7kbert::: Obs

the

the

Tho

PRICES

London, Juno 22..

London Foreign Exchange

New York Mantxeet AmsterdamN Brussels Coperviagen

tin rocket remained others The temptation to acquire steady today. Prices in sterling $177 million for the sterling per too were as follows:

must be anca's gold reserves strong but it must be resisted.

Gytn

gala, would be illusory for Copper

If Britain, is able to buy:

from Londi Americon -owned. Trinidad for sterling, profite m- mitted to the United States by the now owners would be a

permanent reserves..

drin OD

Greater Asset

tha

Eine 1st

NEW YORK METAL FUTURES

But the Government cannot simply say "No to the deal and tode leava the matter there.

The Lead Trinidad compange is not

VTO

This posting his sell out simply, because it cannot make its business pay 2300 but because it has not got and carpot at present get enough Coppe

fun potentialkom!

the Govermen

And

London, Jime 11

2378-11/10-2.7034

10.8532-10.83?? 230.1815-190 39.3534- 11093-11.88% 1751-175144 06134-081 10.40-14.405

2

-Ünited Press.

unctempod

New York Foreign

Exchange

Canada England offeİLİ

Page

New York Cotton Futures In Slow Session

New York, June 11.

Catton futures today see-sawed narrowly another slow session-eight in a row,

Closing prices ruled off 3 to 4 buying - tor - June-July shipment points. The market opened off was in timited volume.

9 to up 2 points New Orlesne closed off 5 to up 2 points: On bld prices.

A routine demand from mills and other trade accounts WALKS sollafted through' reatising, local seiling and light hedge, offer- |ings.

Most traders marked time pending acceptance of bids to

Commodity merrow by the Credit Corp. for sales of raw cotton out of the Government's surplus stock. Pending news on the outcome of the bids, ex- pected a few days hones, mar kot technicians were prepared for a continued slow trade in futures',

Crop NewS

textile

market

NEW YORK

Prices of futures closed today

as follows:

Spot July

Det

Mar

MAY

July

Oct.

NEW ORLEANS

30.12

Pelcus of futures closed today

as follows:

Spot

Oct. Dev.

Mar.

May

July

Oct.

LIVERPOOL

Future closings, in pence per lb, were as follows:

Old contract July/Aug.

Now contract

Oct/Nov.

Mar/Apr

May/June

28.10

Exerplan Kamak July/Aur.

SAO PAULO Future closluga, în cruzeiroa per kilo were as follows; July

December October

Crop news, events and crop developmenta were lost sight of as traders con- centrated on the export bids.

Atlanta reports indicated some mill buying spot, cotton during the past welt for prompt and March July-August shipment, loquiries My for August-September shipment were numerous with indications of 15/16 middling cotton at 14 business for these positions will designated spot markets was cents. Sales totalled be good for the next month or 35.56 two, Memphis reported mill 11,878 bales--United Press,

In the US, the average, price

POBIEA

COMPANIES

15th August

Roth June

PENINSULAR &ʻORIENTAL ́S.N.

PASSENGER/FREIGHT SERVICE

Outwarda “CARTHAGE*

*ADHN" "CANTON" "CORFU

* Loaves Logāka

Sath June,

18th July V

KMCARTHAGI?! Rih September

Due Hongkong

2015. July. BELAINEN

17th: September

14 October

Via. Southampton, Fort Bald, Aden, Bombay, Colombo;

Penang di Singaporu,

Leaves Hongkong - Due London

Roniewards" "CARTHAGE”[29th, June

*"BUBAT"

"CORVO"

Just July

13th. August

94% Beptember.

21st September £2nd October

"CARTHAGE" BIN October

19th November

Singapore, Penang, Colombo, Bombay Adon,

Port Bald London Also calls Hamburg, Rotterdam á Antwerp,

· FREIGHT SERVICE - “BINGAPORE"inada 12th June

for Singapore, P. Bwat- benham, Penang, Aden, 2. Sesc, London, Haan~

Rotterdam

Antwerp

"SOMALI” load 10th June for Singapore, P. Swet-

behmer, Penang, “AdeLL P. Bali, Ganon, Mars sollles. Havre, London, Hamburg, Rotterdam, d

"CANTON"

11th July

29th Auguri

"SUBAT"

dud 27th Jună - from UK.

LTD.

1854-

BRITISH INDIA SN, CO.

A HUNDRED YEARS OF SERVICE — 1956 "WAKORA” day 13th June, from Japan

salin 14th Jurso far Ringapore ENGINE A Вампирот,

· Chittagong "SANTHIA” due 14th June from Calcutta KAUS 15th June' for JarMAGKA “BANTHIÁ

D

Bed. July, from, ispan Falle si, Jur for Bingapore, Penana

Bangoon & Calcutta

Pt. &.0./B. 1. JOINT SERVICE

“OZÁRDA”

die 12th June “ Satin 11-Juzon. For

day Futures D-day," TURATIE

Australia How Boulerici

New York, June 11.

31.01-7/10

2.8015

2.80 2.19 23-7/10 2.79-9/10

"UMARIA”

South Africa

Now York, June 11.5 cos of metal futures cloud Antina

June

Rates

NEW YORK SILK/ FUTURES

New York, June 11,

today, closed to

Bingeport BOM- BAY, · Karsčiai,

“ORDIA”

"THAUNA"

›das - 20th June. from. Bombay-

SALLE KRILA JUns for Japan,

dao 4th July- frem Bocháy

"apar. 8th July "for

falls

dus 18th July' trem Bomber' | BREIN, 2018 July for Jugen

EASTERN & AUSTRALIAN SS. CO., LTD. "ONELLORE” FRIK, BID J

For full put valuri upply to:

WALKINON MARONM A COL

M BONG KONG EG

ד ד'