THE CHINA MAIL, WEDNESDAY, JULY 25, 1956.
TRADE and
COMMERCE
SECTION
Japan
Seeks Trade And LUCKY STRIKES
LONDON MARKET
Friends HONGKONG
Oils Only NEW ASIAN NATIONS Stocks With Strength
BEING CULTIVATED
London, July 24. Stocka dawdled decisively today an the London Stock Exchange today with strength in oils about the only feature.
Motor stars paid little alien- Lion 10 the 132411 Motors Cor Ht1ikow The company's
virtunily ་བ་
shares
-
clinged on the dip, while Ford paul Holls-Royce also showed
little movement.
In the oils Royal Dutch
demanel
than
Burnah
and rac
KK'L ubernd more Shell und
three midier! abit
sterling 1
shillings while British Petroleum improved more than one
the aircraft Transxarts.
De Havilland was a gnitær na of further demand for hopen
Com my's Tobacco shares Urmed. Great Universal Stores slipped back on rumours of a Jower dividend ANGRAFK**men' in the offing
LKIN British GovernmenĂ were generally quiet and closed sanil sprinkling of
with
L
lus res. Wur Loan dipped about 3:10 sterling- United Pres.
Red Trade
Pacts Unprofitable
Djakarta, July 24.
Tokyo, July 24.
A 27 per cent increase in Japanese exports last year shows that Japan is making a big come-back into the world's markets.
not satisfied with their achieve.
STOCK EXCHANGE
(From Our Correspondent)
kong ately $372,000.
Business done on the Hong- Stock Exchange this morning amounted to approxim- Neon quotations and the morning's transaction:
Buyork Butlers
1000
Afr
TIK Bunk
Union
Businessmen, however, itre Mr Allchiro Fujiyamu, chair- run of the Japanese Chamber ments in Southeast Asia, whereof Comunerer und Industry and INSURANCES, they believe that Japan is__lug- sve of the Japanese delegates Lumbard ging behind Western and Cum - who signed the Japan-Plulippine Wheelest inunist countries One of Ther regstrations part, suid, that Japan
of DOCKS, R rousons for the rehuetunee t
push opportunity 20
K Wher Home Asian countries.
Block extableling solid eromic rela- from Japan is believed to
with the Phillppines Provident
101 associated with the own głow-
theo ngh reparations and econo- Ing nationalikan.
Dae co-operation, thus
pattern for the whole | Southeast Astu - China
Sprint
10 buts
betons
ex-
To me! this, Japane perts aris Trying To frid formula which would enable Japan's plans to be accepted by these
Luft
abel investment
countries with inore enthusiasm
Memories Fading
Japanese travellers who have recently come home report ikut feeling towards Japan in South east Axum countries is changing for the better, especially 2100 the conclusion of toparations Burnu ond agreements the Philippines,
Ove
selung
LAND ENC
WORLD
RUBBER MARKETS
Niar Perly Yaumati
Le Light 10
Licht NI Eleclic
47
0.20
9.10
TH
240 28 10
AREA OF MAIN?
MAA
LBE
EDMONTON
SASKATCHEWAN
MANITOBA
Sales
CALGARY
3000 $30
in ez
In Saskatchewan, where extensive drilling
is non going on, further enormous ull deposits have still to he exploited.
OREGINA
WINKITE
Sad feature
14.50
34 80
of
HX Hotel
1500
10 1000
13.00
HK Land
the 00
030
09
Humphreys
20 21 20 60 8011
20 30
JOBBER Amalk
147, 132, 16000
100
¡CTILITIES
21 00
100 T 24
141
140 113 118
years
22 30 23 cu
12
32
1300 2
100032 75 2000. 32',
rocketed
Telephone
10: Telephone
IN}
23 ne
24 90 13 20
21
41
25
1900
14 20
New York, July 24. The No.
con- 1 Ras futures
Clostri 150 points truet today higher to four points lower on sjes of 155 contracts.
ANADA
country
more than 450,000 barrels which is always having a day-and the figure ix strikea-atrikes of a very
likely tu
upwards popular kind, too! The
within a matter of ngain Canadians have struck vil months. so often during the past
To bring this enormouR tine
that Canada anurce of power to the
industrial eastern half up from
B fourteenth
seventh to
Canada, a 1.120 mile pipe- place amongst the world's fine was built in 150 days,
il producers.
stretching from the boom town of Edmonton to Lake Superior.
Foor
INDUSTRIALS Cement
37 33
250
37'4
100
31
1000
37.
Hope
13
Tusiltag
rand
The standard contract closed [STORES. five to 10 palats lower on mies Dairy of four contracts
Closing priora
ETC
10:00 10 70
75
10 60
Watment L' Chew
12 00
12:00
129 1000
2004 20 40
10 70
12.00
No. 1 Ra
COTTONS
Whil
Trxit
July
35.80
Sept und investment plans bolna inferstood by South- cast Astans as a revival of the warline concept of the East
32 31
Der
30.00
Allied
Standard contract
July
35.25
Sepl
31.31
Dec
29.00
Mar
2004
May
28.30
July
with
Memories of war
in this region, whore Japanese capital and technique are
to be inereusingly wanted.
Many Japanese businvasives und offelula, however, against the danger of Japanese trode
Asta Co-prosperity Sphere"
15
Mr Tatsuntsuko Tiki. who is known to be an advocate of a plan for joint Japanese- American investment in South- Cust
Aston
development, has tempururily withdrawn his sup
for a proposal Trade officials at the port from
government-contrulled overseas Foreign Ministry today Investment agency in Japan. "in pointed out that trade view of unfavourable foreign with the Communists had reaction,"
Mr Omisnu Itagaki, Inter- "to be turned
out
national Trade Director of The profitable to Indonesia."
Japanese Ministry of Tratke,
establishment Nukt podnie
resembling favourable trade balances with organisations six Iron Curtain countries and Wartime North China Develoy- Corporation or Central Mexico, the trade offletuds suld ment
China Development Corporation from now on the Government's
wir entirely out of the ques- policy will be "to buy Iow from and sell to those countries. favourable most The offerire conditions."
1
1
П
Un-
At the same time, they re- vealed that current trade agrest mens will be renewedll "only ! they have proven profitable to both ddes**
Ministry sources
that
No Strings
of
Mr Tetsun Mayern, director
is
Futures prices on the whole were slepdy in line with un- changed prices at London. The Ras July contract, which ex- pires on Friday, moved up 150 points. Spol Nu 1 Rsz Won quoted nominally at 33% cents 4 pound.
AMSTERDAM
The
was Inarket
steady. Prices closed today in guilders per kilogram, eif Aug. as fol- lows
No. 1 rubber
Nu 2 rubir
Nu 3 rubber Noerepe
SINGAPORE
4:00 $70
Corp Nanyang
INVESTMENTS
140
A 20 540
CHICAGO GRAIN
MARKET
Chicago, July 25. Prieta in grain futures closed steady to Bm on the Board of Tracie todity.
Although early prices showed a decline, grains rallied to gain as much As 2 cents a bushel on the day Jory Commission house buying and short cover- ing disclosed 4 let-up In liquidation and hedging.
Oil boom
boom
The
víl great began in 1947. whon oil was struck at Leduc--and atruck in such quantity that
the immediate prob- lem became not how coar the flow but how to stem the ceanalons torrents that pushed forth.
to
By 1949 Canada could boast a modest output of 50,000 barrels of crude oil a day. Now she producea
There is one sad feature of the Commonwealth's oil Klondike.
Wall Street Ends On Glum Note After Bright Start
New York, July 24.
Wall Street's day started bright and cheery, and ended on a glum note.
The stock market just wouldn't get into action on the upside as the bulls would like to see it. Rails did fairly well again and the utilities made a new, high since March 26, 1981.
Industrials were higher for a time but they closed with small loss,
All the major groups finished the agion well under Useir
Bethlehem Stuel Boeing Airplane Bordon (The) Co.
Burroughe Add Machine Canadian Pacifle R.
Co
Choe (3.5. Cat. Tractor ..
ughs, the industrials by tnore Celanese Corp).
than three pants, the, falls by CIT. Financial Corp
4 point, and the allies by
half point.
| Chama Manhat. Bank
| Chryfer Motors
Colgate-Palmolive
tuan Commercial Credit
Trading was higher yesterday's dull scoilen-2,040,
000 shares against
shares yesterday
But that led
| Commonwealth flee, Consolidated Edison
1,970,000 Continental Oil of Del
( "ያ መ
courage The bullish element which
been hoping hus more. Neither was it discourag-
ng since it indiealed no large amounts of stock pressing for sale
¡Crane Co.
Crown Zellerbach Cubao Amer. Sugar Diamond Alkali
fut Dow Chemicals
Dupont de Nemours Eastman Kodak El Paso National Ga Erto Railroad Family Finance Corp Ford Motor
The market opened on a town note in bull, enemuraged by yes- terday's rise in rails, and the fact brought mat in a stock ex- change retss of stockholders that "Main Street" Dwns Anneter's marvellous industrial plant.
Not Enthusiastic
But there was no enthusiastic reaction to the move' The steel shares managed to close higher with gains above $1 a share in Buch Issue na Armeo Steel, Jones & Laughlin, 2012 Cruelble Steel
the
best day's touched $143.50 up $4.75
The oils produced some gainers but the closings under the
good
were
Gulf
0121
closeri n
$140 70.
Royal
When Anglo Iranian pulled out of Persia, Canadians hoped that the British
capital would be awitched to develop the rich oil sands of Alberta.
Alberta is traditionally an exceptionally pro-Bri rink province in a pro-British country. But
prosperity the now
uj Edmonton and Calgary has been built up chiefly by American capital.
very
COTTON FUTURES
DRIFT LOWER
New York, July 24.
The cotton market lacked trading incentives again
of today and prices drifted lower in quiet trading.
2.54 paid
Exporters sold small amounts 2.01 buyers of earn to the United Kingdom, 2.46 buyers but the day's largest order 3:23 bayern
4,000,000 bushels of wheat went 19 to France West Germany scheduled to purchase a similar amount of wheat from the US. next week.
The rubber market was steady ink all.
A
in the
Afternoon
Wheat closed up 1% to 2% small trade and cents; soybeans only
up 2% to 8% Futures: rubber per 11.
นุม!
No 1
AUKUMI Seplensber
Octuber
1 1 rubber per tb. Aug. noy-57
in Nonabber per ju. Aug. 20-30%
of the Dulicht Bussan Tradingllers were reserved and thes Company affilated! with
the Mitsul interests said: "Japanese factory Inying.
ensily cennonite proposada inay
interpreta a wrong disclosed be given
coun- that nearly all the trade agree-on in Southeast Asian
Czecho tries, where nationalism Folant. withi meng slovakio Euri Germany, the ascendancy.
"As Presiden! Soekarno Yugoslavia, Rumania, Hungary,
Mexico have been Indonesia has declared, South- EЯypt and
cost Aslane reject foreign funda terminated.
if strings are attached to them," Mr Mayeda added,
He
of
present
n number foreign trade representaves in Djakorta are busy renegotiating new pacts,United Press.
London
Foreign
Exchange
New York
Montreal Ameterdam Copenhagen Paris
Other
Press
were
London. July 24. 2.7914-2.7931 2.7434-2.74 10.047-10.0435 3933-19,34 2007-2009% unchanged United
Muggested
that
گرفتم
No 1 pole crepe ......
LONDON
The futures market was un- Japan certain with spot quoted nt Rye shouki elurt by extending large 26 3/10 pence per lb.
Prices: credita long-term
nations, to show that she has no other purpose than genuine ecuremic ec-operation.
Went Germany is supplying them with credits repayable over as long as 13 years, while The
Bept Export-Import state crepe in Aur Japanese
Bank Bnds diffeully under the present regulations In issuing credit repayable in more than five
years. Mr Mayeda sald that economic co-operation carried out on the basis of the credits would oven- tually pave the way for capital investmente,
thick
--United Press
Singapore
14314
140%
14316-15
The list moved slightly lower in early dealing on hedg- ing and traced with a barrow range the rest of the day.
Mills and treders apparently the first are inclined to gwalt crop estimate of the season on August 0.
weekly
The Government's weather report said weather con ditions favoured mostly good pro- gress of cotton except in parts of Oklahoma and most of Texas. Texas is in need of rain.
July/Aug Egyptian Kamak
July/Aust
BAQ PAULO
Dutch Koined more than $1. Shell roce $1.
to
Du Pont lost $2 a share mor the chemical group where Air Reduction rose $1.75 a share. Motors were regular with Ford up 76 vents, Chrysler down 13 cents and General Motors unchanged.
held
The market was a bit broader GA with 1,164 issues appearing the
tape against 1,152 yesterday. Advances at 434 almost match- ed yesterday's 431 on the use Declines umuuated to 481 issues against 466 yesterday. A total of 207 held unchanged.
Cu
General Electric General Foods General Motors Gion. Pub Ut Getty Ol Glidden Co. Goodrich (B, rj co. Goodyear Tire Iteyden Chonilcal Hofsstake Mining
germli-Rand Inland Steel Lu. lut Businco Machines Int Harverlet International Nickel International Paper Int'l Tel & Tel John-Manville Co. Karies Power & Light Kennecolt Copper Liggett Meyers Tob Co Lockheed Avraft
Loow Incorp
Lime Star Cement Co
Louisville & Nashville It
Lowenstein & Sune,
Mobi Iron Corp.
Minnesota Minisk
Mission Development
Monsanto Cheilent Co.
Montgomery Ward
Mutia Ine
National Cash
Reg. "A"
National Dairy Prod Notion Lend
National Steel Corp New York Central Olin Mateson Ol BevaLTS Owen-Ilie
Glam
Pan American Airways Paramount Pictures Parke Davis Co.
Penny J.C. Co.
Penn. Salt Co. Philip Morris Procter & Gamble Co. Pittsburgh Plato Glass Publicker Industries Pure Ou
Radio Ourporation Repubic Steel Reynolds Metal Shell O Co.
Babyt Reg. Paper.
Binclar Ou....
See my Mobilodi
After the clot, the murke was apprised of the fact that Gulf Of declared only the regu. Jar quarterly dividend
which conte evidently discovered late in the Southern Railway (Com. day, accounting for its decline
of
1⁄21⁄2 South Puente Alco Sugar some traders Southern National Glos
Standard Brands
Standard Olt of Cat.
Standard Ol of Ind. Standard Oil of NJ,
Stering Drug Co. Stokely-Van Comp.
Studebaker-Packard Corp. Rwift & Co.
from, the high,
23 15
54.05
Closing Prices
Alden Inc. Acy
1034
Allied Chemilend
112
Allled Milin Inc.
343
American Airlivo
24
Twenty Century Fox Film
unquoted
American Cable & Radio Corp.
Union Carbide
30.20 39.20
American Cyangmide Co.
4
Unton Pacific Railway
281
Futures closings, in cruzeiros per kilo were as follows:
Oct.
Dee
Mar
May
July
In the US the average price of 15/10 mlding cotton at the 14 designated spot markets was 33.84 cents. Sales totalled 9,003 showers hindered control of bales.-United Press. Insects which still are a serious
The
report also said
that
problem in parts of Oklahoma and Georgia.
At
the close, the list ruled unchanged
to 18 points lower, 1294-1 with the far off October contruct 7695-16 the heavy loser. The market
unchanged opened
to two New Oricano 2431-113 points 2321-4 closed 247-143 higher. 24511-1 2401
lower.
New York Sugar Market
heavy
de-
New York, July 24. World No,
4 sugar futures closed unchanged to two, points unchanged to two lower with sales of 02 contracts,
futures Domestic sugar
and Open interest raw sugar prices here und in
204,000
Cuba hit new highs today, re- flecting a continued mand for refined sugar.
Strength in the raw markel, mid-August where
for sugar arrival sold at a new high of 6,15 conis a pound, brought buy- ing into futures which raised prices 2 to 3 cents. Futuros:
Contract No. 4 (world)
cents. Futures:
913-9336 20%-003 unquoted
Wheni, No. 2, red
Spot
Sept. 217 (1) 218(L)
Nuv.
No
I tanket crepe.
* rubber per ib. Aug 82-63% Nu pot rubber unbeled 91-014
71-72 110-112
Mar
May
2147-218 217 2213- 22245-14 21096-14
-
Corn, No. 2, yellow
Sport
15710
Sept.
Μαν.
13044-4%
Mnr
14095
Hay
Sept.
these No 1 rubber Res spot Settlement house term
Nov
2011-2014
Onta
Sept
3011-20
Sept.
Out/n
231-2334 Μον
Jon/Mar,
24-25
Soybeans, No. 2, Follow
Apr./June July/Sep.
2446-24
Spot
2471
General markets, vif basla, poris
Aug.
24-2412
Sep1.
Nov.
25-26
Jan.
2321-20
Mar,
Many Barity,
Munth
Vojume 17,000
Spot
130-140 Dec.
20,100
423,400
New York floor
zack 200 b.
Mar
14,100
322,400
$13.50
May
0,200
101.100
-United Press.
July
4,500
127,000
Opt.
2,000
. 30,600
WINNIPEG PRICES
Dec
500
B.400
Total
79,200
Winnipeg, July 24. Prices of grain futures closed todny in Canadian cents
NEW YORK
per
bushel as follows:
Qata
Spot
34.30
Sept.
3.30
The
July
l,
32,31-32
Oct.
Oct.
0012
Dec.
Doc.
10th
Mor.
32.40
MAT.
*3.20
1
MAY
Opening
May
70%
May
32,23
July
July
31.60
Sept
Bomeo Petroleum
Dat.
20.50-81
July
Epat-cente
per lb. fob
Des.
30.50
537-
Ool.
Cuba)
342
Tin
Emelter
Dec.
Contract No. 6
May
123!
23.02
Barley
July
Prices of futures closed today
Sept.
different forms in India
Oct.
United Press.
the latter Fraser
almost entirely lacked indigon- oun capital while Indla
couki raize a certain amount of funds by itself.
de Noave Lid. 714. Oum, pred, Honglong de Shanghai Dank-
26 follows:
Nov.
Dec.
Bpot
31.50
Mar
May
104
Oct.
11.34
July
$5,50
Flaxseed
Deo,
39.45-47
July
348
Mar.
22.All
Spot (cents per lb. elf NY
ex-duty)
bo
Mr
ing Corp Hongkong Tin Ltd. Different approaches should Kempes Ltd.
0.3 deal with us Stubber states Lid. developed to different types of nationalism, Malayan Breweries.......
New Berandah Rubber. Murme added.
14d.
Oket,
3105-320
May
31,20
0.41 3.31
0.54.. ****United Proms.
5/00 $1.70
Dec.
300
July
12.50
MAY
7:00
Oct,
30.00
Dec.
30.03
LIVERPOOL
32,30
$1.671
New York Foreign Exchange
New York. July 24. $1.01 13/10 Canada
2.70 England official
30-day futures 27015 • 20-day Futures 2.77 20/32
3.231 2.70 5/18 2.7094
Australia
New Zealonch
South Africa
Belgium
Two Forms
Stock Market
Singapore, July 25. Brokers today quoted Mr Takashi Murano, Deputy following stock prlets Research Director of the Bank proposed that
Japon should make a close studyBatu Lintang Rubber Co. Ltd. $1.50 Bye
of nationalism,
of Tokyo, has
of the types
which he said vary from coun Byndicato
try to country.
Consolidatert
For instanco, ho Enid, nationali hnd
0200 16/16 Indonosia,
LONDON METAL
PRICES
becauso
Ord. taken two Fraser & Neave Lid. Ord.” “
and
London July 24, Prices of metals closed today
Some officials said that Japan In sterling per long ton as could act de a kind of trust Petaling Tin follows:
Min
Raffles "Hotel
bank" for American aid funds, Singapore Cold Storage buyers sellers which she could use effectively south, British traurence
11344 technical experience. Bt other
291% wondered if Southeast
Straits Steamship.
144
748
because of her business ami
month
Copper pot Lead 2nd half
Astranstra Trading
would accept such a plan.
Ind half.
2
Tinte
as United Engineers Ord.
17 Joint Japanooo-American invoet Weame Bran.
funds are not favourably received in Lianita.
Wheat, No. 3, 101 centar $2.79 No. 5, 141 conts-United Prem
Exchange Rates
Dullness was done in Lim 10pai 100.00 unofficial exchange market this $24.00 Homing at the flowing rateszeniok
UB. dollar (per, #1).
$13.78 10.94
Serling hotes (par #1)
Australian naten (per 21) Indonesian Tunia), (per...,100)
• eumdiv. exuty-China Mall Blam teal (per 106)
Apecial.
Singapore. (Straits)
1,434,500 bales
Prices of futures closed today 01 follows:
NEW ORLEANS
Am. Mach. & dry American Smelling American Tel & Tel "E" American Tob Anaconda Copper Arinco Steel... Armour
Baldwin-Laina-Hans. Baltimore & Ohio Bendix Aviation Corp Benguet Cons.
Texas Co.
Tide Water Assn. Oil
United Aircraft
334 0.8. Gypsum
103. B. Line Co
79%
U.S. Rubber
TU.S. Smelting
83 US Steel
1914 Warner Bros
144 Westinghouse Electric
West Va. Pulp & Papor 521: Woolworth
101
01
United Press,
Futures closings, in pence per
NEW YORK METAL
FUTURES
Now York, July 24.
Prices of metal futures closed
27.40 today In cents per, 1b, as follows:
OPHOON MAP
with revised codes in force as from
1st April, 1956,
$500 MOUNTED
from
South China Morning Post Ltd.
HONG KONG & KOWLOON
Ib, were as follows;
July/Aug.
uld contact
Oct/Nov.
Deo/Jan.
MIZARE. May/June
|131 || 1 July/Aug,
New contret
Det Nov Dec/Jan. MITJApr.
May/June
Lead July
Augus
Tin
August
Zine
August
Copper July
August
14.700 14.73b
$4. UNMOUNTED
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