1956-06-28 — Page 9

THE CHINA MAIL,

THURSDAY, JUNE 28, 1956.

Page

TRADE and

COMMERCE

Americans Developing

NZ Resources

Finance And Know How' For

Harnessing Geo-Thermal Steam

Auckland, June 27.

United States construction experts are playing a vital part in developing the economic resources of New Zealand.

where

Current big contracta

Another Uller States-New American "now how** and Zealand combine the Raymond budle are being dmonstrated | Concrete Pie Commy.

te in building £0,000,000 Merritt-Cbaz

Scott Over- coal-fired electideity station and Seas Incorpotted of New York drilling for geo-Übermai steam and the Fletcher Construction for industrial use.

Company of New Zealand---bunit

18,000,000 mills.

works. Kuch

Ancillary

ALS

The power station is a rushi Job to meet, a chronic electricity, shortage in the North Island, roads, railways, o port, housing which is the most populous and jand electricity cost Die New Zeu- Intustrialised of the twa malalani Government £12,000,000. Inimals cał this predominantly agricultural country.

Centre Of Island

uf

الاني

104

American engineers ware niso called in to design the* £9,000,000 Auckland metropolitan drainage

"1",

which work proceserang The United States is expents are Professor CJ. Hyde, The construction contract being carried out by a United of Surs Frances, Mr AM Rawn, States and

New Zadanel com.t Lox Angeles,

Caldwell. Morrison- basatis MORT

Thury were unsust Knudsen (NZ) Linsted. the

Wilson, of Britain. Morrison-K_madsen Company In- corportalect of the lined States, HK Fergus ansi Crampany Di the United States and Downt and Company of New Zealand.

Dise tre

WORLD

RUBBER

MARKETS

futures

15 gts lower to 40 raints

205 higher with rates of tracta.

The standard contract closed 15 ponts lower to 40 pants higher with sales of nine com- tracia,

HONGKONG STOCK EXCHANGE

OPEN MARKET

PRICE FOR

NICKEL

London. June 27. Somewhat divergent views are at present being expressed about the open market for nickel,

Price stow a softening tendency. according to sa quarter, Who fool that it is now becoming Increasingly dificult obtain £1,500 United this

(From Our Correspondent)

Business done on the Hong. kong Stock Exchange morning amounted to approxi teately $450,000. Noun quota- flons and the morning trans- nctions:

Sharea

Buyers Sellers

Marlen

BANKS

HK Bank

200

Eual Asia

INSUILANCES Taey

240

10714

Lombard

K Whast Doch

Provident

COL

JK Hotel

Llah (02470 24 00

2013

100-7

42 000

**

much in exetin of

Bom troma

日

Kingdom buyers

for 'marginal requirements. But opinion seems fairly that to

up £2.000 per, ton and pos- rably over, can still bo realtred on the Contimænd.

Not without some interest

the talk in more

QUAIECT that thero

釉

do

than

has been an casing in the United Kingdom domcsil

For pure nickel

Current price ideas are rather wide apart; up to £1,200 per ton is Indicated on the one hand and down to around £1,000 on the other for anodes and sheet cut. Linga. A few wreka Aga there was

of o mention the tower price

The reason for the down- ward trend in scrap prices In said to be twofold.

SHUTING

Wheelock

0.40

U 50

3000

#5 น.ส

DOCKS, ETC.

prico scrap.

21 143

310 $1,00 9004

14.30 14.30

LAND. ETT

14.40 14.00

New York. June 27.

No.

109 E <today closed!

rubber

RUBBER

¡IK Land Realty

:56 1.811,

con-

Amalu Thi UTILITIES Tran

130

:53 25.000

* A422

$60 70 0 1-4

100

23:00 24 10

13

223

100

થય

Star Ferry Youmau

137 100

10

301 4 140

und Dr D. Francisco. by Dr H.

600 w เบ 100 1000

24.00

24.00

Closing prices,

C. Light (N) Flecirte

2: D 71 15 2140 21:00

22

No. 1

Ran

500 Der 32.75 1144 1142

20

21

daddy Sept Dec.

24 T 24

32 13

13

Sited in

4

Live:

*

Contructu

Tips th

kilowatts August, 1958, and túill produc-¡Capo Adure in the Antarctic.

Work there will Hon a year laten

supplement jobservations of other Amerleun the jun

New Zealand Antarctic have

China !¢«#»liyelcl slationu British firms. Mail Specuad bet installation will be the re-

Co-opetutaon between United Stules and New Zenlai will be earpart a stage further near extensive evulflekis, during the International Geo- the station will produce 180,000 physical Your 1057-58 when

The kłowatts.

60,000 sceral konts from the two countries Bist exported hy will work

Joint trase

th

Handard contract

35 35 75

July Hept

33 00

STORES.

ET

31.90

Dairy

20 35

WASU

LU 70 10

1170

190 10

Mu May July

20 K)

Lati, qan

24

20 20

COTTONS

21.30

Fexule

L

bustness

Comp

330

3 40

Nanyak

INVESTMENTS

Yougisze Allied

T

U13

Mor

6 IND

2000

315

2000 M

5.090

K. & FE

Invest

13.20 11 40

heavy machiktegy unidad been

Kiven น

sponsibility of the Unikst States-New Zealand combine.

They Will HIM eight-plje aerial

النا منار

Jua

Supplementary

Terkini market originated chiefly between co-

houses

trade mission Interests prompted by the higher trend of the primary markets,

In the oriside market, fac- tories and other CIRIKUNET (17)~ Hined to mark time and limit purchases strictly to l-in poods. Spot No. 1 Ras was quoted

pound.

New York Sugar ally 3 cents

Li HAWAY carry 500,000 ans of coal year to the powerhouse from open-cast workings

Electricity nutharities foresee tu an existưn of the project. double its planned 180,000 kilo- wall capacity, taking the eusi to

£12,000,000.

Market

New York, June 27

World No. 4 uger futures today closed unchanged to point higher with sales of 25 contracts.

B sugar closed

Domestle No. point higher to point Jerwer with sales of 124 contracts

The market continued to lack

a fresh feature Futures

Another United Stater-New Zooland exgribine is Grilling for geo-thermuil skam at Kawerau, location of New Zealand's first

waping malls, the £16,690,000 | 24s St undles taking of

Tasman Pula

Paper Company. which was partly Banyere. Į Amentan arct British investor

Dry Steam

The bores

being ANT near thermal springs

Bunk in hopes of Anding dry steam of sui- elent pressure to drive the glant nowsprint machine, the fourth largest in the work, and pulp- makin

and timber-trading machinery.

Tha prises i

COM-

Jazzi drilling

Bechtel Corporation

Contruel No. 4 (world)

SINGAPORE

A big advance in New York cursed short covering and with nervous fluctuation the market contingeri fairly steady all the day long weky, There was sell- ing in the afternoon. There did not appear much trade off-take uns metrics were not interested.

Future

elessing 1 Straits rente per lb. (ob Malaya P

were

No 1 rubber floo July

Aug.

Sout

No 2 Hay

331 No 3

3 34 No. 4

Det

3 31

Spot rubber utbaled

ME

Market repe

04-044

verginited 90-05 8032-8914 10-87 04-641 72-74

3.21

No. I pake crepe

100-111

July

Sept Sp-resente per in fab Cuba)

Contract No. 6

LONDON

334

Sept Nov

Sprit-Center th

<x-clu

3

ell NY -United ProKS

CHICAGO LARD FUTURES

The market was erratic with spot quoted of 26% once per 035 16. Prices: 550 No. 1

2024 +27

Settlement house term

11.02 ANS

Sept

Del/Dec

Jom/Mne

Apr/June

General markets, July Aug.

Estate crepe Quin Juây

Udick

Pries of inre

In

Chiengo, June 27.

futures closed

cunts

b. per

F4

of San Francisco, the Raymond) | today Concrete Pile Company ofllows Delaware und The Fletcher July Construction Company of New Sel Zealand.

of

Oct Nov,

A big T32 American drilling Dec.

down going rig, capable 7,000 feel if necursary, biting into the earth on the eastern bank of the Tarawera River,

at

Д

Inlo from the malls, struck ateam at 1,100 feet. Engineers, hoping for better steain greater depth, are continuing drilling.

The project engineer is

Mr

John G. Rice, of Oklahoma,

whose home is at Long Beach, California.

The Tasman Company Is al-

preparing

to

klin-dry

ready timber with steam fromn bores tested by the Ministry of

AMSTERDAM

207-27 2041-203

Teleikme

KUN INDUSTAIN C'empat Hupe

ואן :

24 08 300 20 053 0 10 TR

Firstly that rather mort Japanese virgin nickel is reported to be arriving in the United

Kingdom against past purchasta, and stcondly, the reduced de- mand from the motor car

where ticke Industry

nickel la used for plating purposts.

it is understood that the forward shipment price for Japanese nickel records no big change, ranging from about

£1,000

40 21,750 per ten off Europe depend- ing on delivery from late 1930 and onwards— China Mail Special.

SECTION

PAKISTAN Wall

Wall Street Shows AND SOVIET Increased Activity

.

TRADE DEAL

Karachi, June 27.

By Dorothea Brooks

New York, June 27. Steel stocks, road building issues and some individual specialtics kept the stock market moving Up on increased activity today.

A trade agreement sign ed between Pakistan and Soviet Union here

The enthusiasın today provided that

generated General Electric tho

Jale yesterday by the Improved General Atators

General Founda two countries would outlook for stool labour peace Gen. Pub, Uni,

the

Gidder.

con- ingersoll-Rand

tead most favoured nation and the anticipated benelis to Getty Oil treatment to each other in come from the newly approved G

highway construction bili affecting exports tinued matters

and lifted stocita sextugineos MochiTHESEL and imports, according to those groups a joint communique issued than 3 points. hore tonight.

tween

CTI-

There

a point to more

even Individual

Int'l Harverkau

Citerntional NicoNi International Int'l Tet & per

Jolin-Manville Co. Kansas C. Power & Light Kenrecott Copper

favourable Liggelt Meyers Tah.

such as

While Lockheed Aircraft

dividend Loews Incurp

than 2

were Aume

for SANUS bigger "The

also ogreement

reflecting dyss vlanges a special arrangement under which all payments be developments

Motors increased and the Soviet Union Pakistan in relation to the un- which sent it up inore

and A points port and export of goods and

Split

groposal other payments of a commercial shock

Increase rature will be made in Pakis-lifted Megrow Hill Publishing tan rupees," swald.

the communique

dividend

more than

three-for-one

and which

6 points before realsung cut the guần áo Y net. The communique siid goods

Trust and stocks rose 2.67 Pakistan to be exported from

average, Adla 0.14 to Russia treluded jute and jute on

0.39. Out manufactures, cotton wool, hides uitles

leather and 1,127 suce truded, and skins, tanned

higher, 320 Junver. (сл.

REPRESENTATION

Lone Star Cement Co Merabi Kron Corp Minajold Mining

Minions Development Monmhio Chantent Co

Motorola ine. Monery Ward

National Cash Reg.

National Dairy Prod National Lead

National Steel Corp

New York Central

end

Olin Mathieson

of a 500

total

Olis Elevators

Turnover Up

Pheifle Ga & Elec

wrie Pan American Airways

Purust Melurew

Parke Davis Co

Penny J. C. Co

Penn Ball Ce

Pully MorTh

Procter & Gamble Cu Jattsburgh Mate Glass

to Pihlicker Industries

Pure Di

Russin would export goods including industrial equipment, Turnover pickerl up machines, tools and instruments 2,000,000 shares, best in nearly Radio Corporation

and tractors

agricultural it see

weeks. from 1,730.000 Republte Steel machinery. buil ustd

roller yesterday.

Heynolds Metal Metals. bearings,

chemicals,

Shall Ou Cu Saint ito. Paper petroleum end petroleum pro

Lecis the improversfut | Sinclair Ou ducte pad timber.

Sony Mobilust among leaders ranged to more

South Purrto Rico SurST Bethlehem AL than 2 points,

Southern National Ga Steel Sutinen Badway (Com)

and Standard Brands

Standard Oil of Gal Standard Dii of NJ. Sterling Drum Có, Stokely Van Camp. Bludebaker-Packard Corp. Swift & Co.

The

more, and US Youngstown Sheet

point

赭

communique said to order to facilitate trade under point or the agreement, the Soviet Gov-and

Le Tube also gained ernment would shortly silang up Lion in Karachi.

A tracte represonta- more

ול

Among issues which stand to

It said the agreement opened benent from the road construc the way to broader possibilities tion there were gains of nearly Com mutual

In Lone Star Cement. business between 3 points the two countries—Reuter

more than 2 each in Gardner, Denver and Caterpillar Tractor,

2 Main EPU CHICAGO GRAIN Oils Brighten

Creditors' Quotas

Paris, June 27.

MARKET

Culiago, June" 27. Grain futuros prices closed lower on the Bourd of Trade today

London Market

rusc

There were a few features iso via8, including the day's most jactive lestre. Panhandle Ou Įmore than a point, Royal Dutch and Shell added around a point.

Mologs were frin,

New

York Stock Exchange bond volume was $3,020.000.

Ex. 30 TrucklastráKKŽ 19

20 madis

16 utilicer

$5/2.04 107.16

00:14 123,70

London, June 27. American Surk Exchange The quotas of the two Soybeans led Lie bechine,

Oils staged

spirited volume was 700,000 shares. main creditors of the Europeainly thos Low July

advance to delivery, and liquidation in this

brighten an Dow-Jones closing averages pean Payments Union are

area unexttled holders of other otherwise drab session of were expected to be increased deferred contracts,

London A drop in the

Stock next year when the Coun-vegetable oil prices is also said change today. cil of the European Pay.to have contributed to the envy

Royal 15 stocka Lively buying pushed selling.

£1,10 bondo Dutch thead by almost Wheat wand the food grains British

Petroleum was another Moody's index discuss the extension of followed the trend with hedging highlight, spurting the Union

another and liquidation accounting for tailings, while Burmah gained for

He wheat lossts. year, according to sources

almost as much. Shell Transport Wheat closed off 13 to 2cided more than five shillings. close to the OEEC.

cents; soybeans off 1% to 4% ceista.

ments Union meets here to

about eight

Rolls-Royce

Comm futazre price index

24,07 1250.40

4 25.30

Tide Water Asm. Ou Twenty Century Fox Fini

Union Carbide

Union Pacific Railway United Aircraft US. Gypsum US. Line Co UB, Stubber US Smell

Steel Warner Bros

Westinghouse Electric Woolworth

United Pres.

Fly PAN AMERICAN

world's most

experienced airline

Closing Prices

$ 10%

да

34

33%

to

20

Allis Chalmers

America Cable & Radio

Corp.

But the recent decline in the

Alden te ARY. pound sterling dampened sentt-

Allied Chemicals Industrials Allied Mills Inc. mrent elsewhere.

Leadere were quiet and mixed on the downside included Ford American Airline Motors

und

200

Bowaters--all off more than a 289-2006 | shelling. Unllover managed to 2094- 21276-42 213 2.

The West German quotas 10- talled $1,200 million and this country

CLOSING PRICES to may grant credits other member countries for an

Prices per bushel in centa: aggregate sum of $300 million

190 - | Wheat, No. 2. rod The German surplus, how-

Spot $305.5 mil- ever, has rendhed porta: tion and an

additional quota 263-273 20-2736 will become necessary to cover 33 unquoted

20-20 251-23%

2016 20

The market was steady today Pricts closed in guilders

per 9.97-10.00 kilogram, cif July as follows

the credit granted until June 30. outside the limit, as well as the new credits which Germany to allocate for the may want 1056-57 period.

The Belgium Luxembourg Union has diready received

July 2001CH: 204,41) Sept. Nov.

Mar

May

Corn, No. 2. yellow

Spot

July

Sept

1499- 149-1

Nov.

1

Mar

Ryo

10.42 10.02-67 10.00

No. rubber

No. 2 rubber

No. 1 rubber

2.02 paid

1.02 buyers

SLE)

No. i crepe

3.60 buyers additional quota which brought 3,lu nom, the limit of credits which che | Oute -United Pres. could grant to $201 million.

July

1712.

Sept.

12/91-

Jaky

Unul the end of May, the amount of credits used reached $182,9 million and experts sold that this Bgure would be ex- ceeded shortly.China Special.

Sipl.

807 beans, No. 2, yellow

Sput

即

Mall

July Sept Nov.

Jan Mar

Barley

Spul

12.43 United PreUE,

COTTON FUTURES

TRADING SLOW

New York, June 27.

Cotton futures today experienced another two session of slow trading and narrowly irregular Works before the Americans price changes.

took over,

Operations

Location of sufficient high-

centred around Monilis

July quailty stcam Al Kawermuthe ayoarby July delivery. Oct. would save the paper company Closing prices ruled 3 lower to Dec. between £100,000 and £250,000 points higher. The market Mar. a year i coal and electricity opened off 7 to up 3 points. July buts.

Now Oricons closed off 4 to 5 Oct. points,

Interest in now crop monthe Total remained Imited. Tradera awnited more decisive develop-

Process Work

#

Dec.

404,000

Singapore

Stock Market

Slotapore, June 28, Brokers today quoted following stock prices:

20431-200

2004-281-

25014-2

2049-4

<258

130-140

13.com

-United Press,

PRICES

Can a similar amount.

The British

continued drifting

Jower, with

American Cyanide

Ars. Mools & y dry American Metal

Governments American Snelling

American Tel & Tol quietly American Tob. "D running Anteonds Copper

Arnco steer) Armour

losses about £% and £4.

found in Arronline

Issues terest, although Harrods B. A.

Baldwin-Láma-Her

Baltimore & Ohlo Bendix Aviation Comp.

a burst of profit-taking Benguet Coas and skidded about 4 shillings. Bethlehem Steel Boelag Airplane bonds German

High-Bordesta (The) Co. potash Hghted a generally quiet foreign (Durroughs Add Machine bond group.

Potash 044 per Canadian Pacifle f

Case (J. 1.) Co. advanced £3 to a new high of £234. Japanese lens were idle and unchanged.

United ProES.

cent

London Foreign

New York

Exchange

New York Bour

200 lb. sack

WINNIPEG

Winnipeg, June 27.

Copenhagen

Prices of grain futures closed today in Canadian pents per Brookholm

iho

bushel as follows:

Outs

Орего

Volume 7,700

22,100 10,000

Open interest | Batu Lantang Rubber Co.

121,400

Lid. 200,400

July

Oct.

British Borneo Petrolisan

Syndicate

Dee

May

5.700 10,000

200,100

145200

Consolidated Tin Ameltare

ra

86/3d cel Nye

July

Ock.

2,000

110,000

1,500

£2,000

500

1,400

Traver & Neave Jtd. Ord $1.75 Frader & Neave 7 cum.

pret

Doc.

15.30

Harley

.... 60,500

1,031,000 balas

Hong Kong Shanghai

Banking Corp.

LIVERPOOL

Hong Kong Tin Lid.

Kompan Ltd.

$990

$1.72€

July Oct.

Finxesed

Julv

Malayan Breweries....

*T.05 xci

Oct.

Now Serandalı Rubber Co.

34.00

Ltd.

Pataiing Tin 144.

$1.70 DAT

28.00

Raffles Hotel........

$1.43

20.20

South Dritish

Insurance

MAT

Co, Ltd,

23.07

Stratte Trading

$12.00

17.90

If the drillers and the steam meals dealing with the Gover-lb. were, as follows:

Future closings, in pence per Lunas Rubber Estates Ltd. 0.70 which they expeel, they will TOOTHL export

programme, crop Old contract design geo-thermal oterm news and the labour situation July/Aug. electricity scorating plant and in the steel industry.

New contract. establish techniques for cott- Now

of bid vering steam for

outcome procene subtitled earlier this week for

purchases out of the Govern skill and speed ment surplus stocks is expected had already been demonstrated to be delayed for a few days

werk in the mills,

American

in New Zealand before work more, traders thought

Singapore Cold Storage

July/Aug.

Oct/Nov.

Mar/Apr.

May/June

Egylion Knerak

July/Aug.

BAD T10

A continuation. of efforts to

Future closings, in eruizokros'

Special,

of

ATM wero

There was the construction get the Government to change per illo were as follewac

£1,000,000 wharf at i its

July export selling programme Auckland by the Raymond from a competitive bic basis Concrete Pile Company.

to a subady basin is being put Followin khat, American forth. Tinders, constructiona

the change, claimed it VETY

34.40

Out.

33.20

10.

$50.70

Mer.

40.00

advocates

PA

May

40.00

would

on these projects began.

Dec.

1109%

1041, 100%

0412-13

34

ALontreal

| Amsterdam

Zarich

Others were Pros

Celanese Corp. chine Manha Bank Chrysler Motor [Colgate-Palmolive EX

Commerdal Credit Commonwealth. Ehe. Consolidated Edison Continental Où of Dr. Crane Co.

Curan Arner, Sugar Diamond Alkall Dow Cerralcala Dupont de Nemour London June 21. Eastman Kodak

1.7091-2.70-1/11 Paso National Co 2.74-1/10-2.73) | Erin Railroad 10.04-10.04 Family France Corp. 19.34-4-19.33 Ford Motor .....

80-9001 1440-14ADEL

L2.10-12.194

unchanged.—United

New York Foreign

Exchange

New York, June 17.

Canada England official

30-day Kutures

H

Australia

50-day futurOS

New Zealand Dec.

South Afric Whost, No. 3, 163 cents; No. 6, 138 eldun cents.--United Prise.

Argentina India Pakista

$1,01-10/10

2.79-15/31

2.78+2/33

2.75-1/10

2.701

090011

000

EUROPE

and the

USA

For reservations, call your fravel agent or Alexandra House, Phone 37031, Hong Kong Peninsula Hotel, Phone 64005, Kowloon

Par Amaciem Marit Airways, Don, Lunaparated

in State of MacTork, C.de with that katkenn

PAN AMERICAN

Die Stamping

The South China Morning Past, Printing Department is equipped with modern diestamping facilities,

REGIMENTAL, SOCIETY and CLUB

CRESTS & EMBLEMS,

TRADE MARKS.

FAMILY COATS OF ARMS,

and MONOGRAMS.

,

etc., otc.

藏

Stearmenis

United Engineers Ord.

Weardo Bros. L

Landly. ↑ exdly--Churna · Malt

LONDON METAL

PRICES

London, June 27. Prices of metals closed today | in sterling per long to De

Exchange Rates allow

Business was done in the JogalÏTin spol ALSOfficial · exchangə market diste gesonth

15,74 | Zuma, and hale Tade

Depl

Bepl

much to the fore lo New Zen- afford broader participation of 15/18 misidling colon at 24 de-piprjing natem (per als

In the US the avage price of rooming the following rebrand Lead and half June

0.07 U.. dolar (per 63) 4 The land' Ikzhfløst Alagle pro- | shippers to wosald move the signatod spot markels was 30,31|| Australian nolts (par £1) ve 23.30 Job-1310 £20,000,000 Davis | maripaus Marter, with possibly last cords. Galen tota:Toth:1432 bates. Indonesian rupiah" (per (200); * print project.

Slam doa (per 100),.. (experspa to the Government. |--Unitod Probs.

-singspore", (dtraits)

28.10 |3-month

buyers sellem

7 249

United Pres.

NEW YORK METAL FUTURES

New York, June 27. Prices of unatoa turtures closed dedegt in vente per 1ɔ. us follows'

דין

July

July

Zine June

July

Copper Fune

14,962

14.100

SM DOD.

Call and inspect our samples

Orders accepted for Steel Dies

and Copper Platos.

SOUTH CHINA MORNING POST. LTD.

Wyndham Streut. Telephona 20002