1956-08-15 — Page 9

US-FORMOSA

AGREEMENT

#

Washington, Aug, 14, The Agriculture Depart- ment today announced trade agrochem with Na. tionalisi

China whereby that country will purchase 9.B nullon worth of farm commodities which include

colion, 5 milton: dairy product. 1.5 million; and tobacco, 1,7 millon Inedible allow. 1 millon. Hal under the uro.

gramme will be made by private UN traalten, United Press,

CHICAGO GRAIN

MARKET

Cg Aur. H

TRADE

THE CHINA MAIL, WEDNESDAY, AUGUST 15, 1956.

and COMMERCE SECTION

India May Deepen A SeaSINO-JAPANESE Wall

WORLD

COTTON

MARKETS

New York, Aug. 14. Early gains of more than $1 a bale in cotton

were cut

today

sub- stantially by profit-taking and

the list finished

lightly on the upside.

The umket rese sharply

t

PLAN WOULD BY-PASS | CEYLON'S MAIN PORT

Bombay, Aug. 14.

Ships plying between the Arabian Sea and the Bay of Bengal will avoid having to ¦go round the island of Ceylon and so save 300 miles if a project now being discussed becomes a reality.

WORLD

RUBBER

MARKETS

New York, Aug. 14. The No. I Ras rubber futures. contract closed today D to 10 points higher with sales of 40 contracts.

The standard contract closed

The project, called the Sethusamudram 10 to 30 points higher with scheme, provides for the deepening of the shallow waters between India and Ceylon, with sates of 70 contracts.

At present big 44. coming | Government had very studying - The outset of an extet ston of

Committee' covering a from the Arutyun Sen the Mideas | the hort

Farrel vesterday's

report JRGA UMEAL with helging and Vishakapatamít or Calcutta have would shortly nnounce its:

readily barbed. | to go round Ceylon withough decision. cary lo hrava ut the case of it-taking

1937 contracts deck now small ships and other Uny craft mati peres The Gulf of Monmar. - eas nal highs

Crain Futures

pileen weten

farding at the Mod of Truck. foxlay

Profit-Taking was the princi-

ا انار

A reaction started late in the pal cause of the deeline. Seat-ing and poders drifted from tered hedge selling also enteget, then highs us a price fang

apparently was satisited

ante when to cause fossen a vend and more during the thy

Expert bustuess

WON

slower Dawn i wn! Buyer ver Austran purchaser 448,000 bushels of Corni

'Sa

a expres

d

from Gull

will be bipard during the half of Septershti

poris

12 at 1.

export

enter ve

Lon

soy beans

that he's

Us bushel ok December -hipmezi?

100

part of the Indian Ceran west "if Ceylon and southeast of the

southern part of India.

ezles of 28 contracts.

The

rex contrnet closed points higher to 5 points lower

Closing prices:

No. 1 Rs Sept

27 (K)

Ded

30 ен

Standard contract

novering

wallart

T

In voluine expreted at this

an Shipping and commercial

terests here are confident terests have been pleading with the Sethusamudram project will move. "The authorities to undertake the [not only be started shortly but

delay in the will be completed the ingest

Che betare Atlet to develop interest

ecotomy end of the Second Plan-China | and wely transport facilities Mil Special. slocks for foreign trade Tactor

in view of the

considerable development of

shipping and reign trade which is envisaged In India's second Five Year [1956-41). shipping in-

Dec Mes

22310 34.00

3270

May

July

Sept

20 70

Rex contract

Sept

in.

Nuv

3490

Jub

Flat

12 00

July

Sept

Feasible

Six-Month Net

pound.

the

The early

Deleted! Lalure of besiging

Low perlicated cotton

abo was a supporting

fo, nearby October,

At the close, the list rule 5:

Pow

As a preliminary

step.

New

pants hugher. The market overnment of India appointext make 150,800, -pened or to 11 logher

Alan expert vomunittes to Cleans creed two

reconumendations. for pentine me higher

The Implementation. "T The

Cliffed,k 4482 kaler um banged.

Exypi polpenzest a web shalind Purchase of $180,000 bushels es wheat apl 200,000

Takath Bou 14 repaired, tinweten, October

Dental that the out will be compls trij

Marth et August 8

Alay

The Sethusaionalratn

11.

TUTW

project

}

Volume Cren integrat Portastable e

flowerment that the project is feasible.

230000

+1,1800 27,00

296,370

350, T

178,300

Whea!

les & 7 to 25% į Oi totag

Devenler crate, y unas 1 1 1 25%

Tobl

Jus

11,300

131300

3,600

51,000

18,700

112.00

nits.

NEW YORK

Futures.

Wheat, No. 2, red

קווין

Shows Deficit

Of $5 Million

New York. Aug. 14. TWA expanded its revenue Tralbe by 4 1⁄2 million for unles in June af 1950 16 increase net

for the earnings

onth to

The Committee estimuted that i The entire project woubl

100,000,000

rupers 1,339,200 bale,1117,500,000 sterling)

in- Veteries a canal 5,400 youde. long.

32 fel der net 150 feet wide 1 $2.491,000 75e a share en

Doltam, Neu apprunchpared with $2,307,000 t 69 a canal lock, a canal share last June. Chairman War- development or rea Les Pierson and Exteulive of Vice-President John A, Collugs

announced,

the

Prices of futures closed today canals, ♫

bridge, as follows:

India's southrusteru Port Tuticorin nd the construction of a project headquarters.

5 detobre

Ocember Marthi

Spot

2000-2171

Sept

2011 210,-

11.

ZID

Nuv

9241-

MAI

i spur

Мик

July

2254,-* 2171

160

149-12

3413%

1404

145

131

Corn, No. 2, yellow

ر الاياد

July

Octobe:

cs

34-451

3343

35 27

32 01

32 34

31.01

31.00

NEW ORLEANS

זמויות

However, the June Kein Was The Comunittee have

nol zufficient to offi earlier mended a site near the Pamban | losses in the six-months period borkige at the southern

Prices of futuris dosed today! wid as follow

Spol

Зрадля

Nov

M421

Maj

July

Eye

Sept

Nov

Oste

Sept

Nov

7476- 777-**

Spol

Soybeans, No. 2, yellow

Spol

249-250r

March

Sept

MARNA-

May

Nuy

2411-

Jati

2449.

Man

2471,

Judy Dember

entr

Miny

24094

Harley.

Spot

120-1400

New York flour.

200

༥་**k

$13.00

- United Prom.

WINNIPEG GRAIN

PRICES

Winnipeg, Aug. 14.

Prices of grain futures closed i

Loday in

follows.

rents per

Levenhei

LIVERPOOL

32 60

3044

3346

Pumban

Channel

ان

to of when an expense increase India for the main Sethusamud | 22%, la line with mounting in- ram canal, as it is called, to link dustry costs, hegated a 13%

the the Gulf of Maniar with

revenue increase to produce a Palk Strait which is a 40-mile net los: of $5.396,000 or $1.62

between north shart. channel

In 1955 TWA carted Cylon and southeast India. The $1,334,000 or 20 a share in the

separates' dist six months, Rameswaram istanet frian the mainland of south Ital Totu:

cperating the Gulf of Mannor (TWA's fed 2 vowels

months wos with the Palk Strait.

$112,110,000, un all-use

high. compared to $99,034,000 in 1955. Cumbined revenue Passenger inile for both domestic and international services were 18% ahead of 1055, from 1,575,593,000

1,827,910,000.

3236 31.05

Futures closings, in pence per ih, were as follows: Uld contract

Oct/Nov

Gen/Jan Mus.. Aga

May/June July/Aug

New contract

Det /Nuv

Dec/Jan

Mar/Apr

24.75-77

1.40-50

Alternative Port

Explaining the rens.dis for re- comm oilng the site a few miles west of the Painban bridge on the mainland. the Committee sad that being directly in line the port of Tutoria between and Palk Strait the site was the dils- for saving most suitable tance and time, while exenya: tion work there would be much Onetatik easter as borings had Indicated

24.30

24.19

i

25 05

24.20

bushel as

23.3

May/June

23.05

Gala

July/Aug

23.05

a trata consisting almos

irvy of sand.

ON.

#22%

Exyntian Kovnik

Dec

May

79 7949

Nev./Dec

53 No

Hye

SAO PAULO

Oct

1264

Der

120

May

Baricy

Ort. Der May

107% 1037 10274

Oct. Dec.

33: 30

37 09

Flaxseed

Mir. May and July all unatuled

Oct.

Der.

May

Rubber trading

30.13

duil wtx

TRADE DEAL

London, Aug. 15.

The visiting delegation of Japanese businessmen snd Industriallats and a number of Chinese Import and ex- port corporation have con- cluded contracts in Peking amounting to about foar million sterling, the New Chius News Agency TC- ported today.

Among the goods China will sell Japan are: soy- heim,

cashmere, matza, leather, wool, wild slik, tunk wood and tung oli.

Goods from Japan will Include: woollens, rayon. silk, sugar, watches,blay- dica, cameras and scientific instrumenta.

the

arcuoy added-Reuter.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Business done on

the Hong-

gain today with prices rising kong Mtock Exchange

the131 Slightly in Hae with higher, morning amounted to approxi- London cable Spot No. 1 Rss mately $475,000. Nuon quotations

quoted at 20 cents nad the morning's transactions:

Sharea BANKS

SINGAPORE

Buyers Sellers

Page .9

Street Quiet

Higher

But

New York, Aug, 14.

Strength in selected metals, steel, oll and chemical shares highlighted a generally higher but quiet stock market today,

buying

Burry near Chare Man, Bank

A brief the close red turnover for the scasion to 1,790,000 thares com- pared with 1,730,000 yesterday,

Industrial hirea us a group just about recovered yesterday's their lasses climbing 2.07 in overage. Utilities were iken but tra bevad just a bit on averagt,

Gains

the non-ferrous metals ranged past 2 points Anneonde, Kenneruit

and Phelps Dolg”, the inst selling ex-dlyklendi.

For

siceis,

Chrysler Matars Climax Molybdenum

Colgate-Palmolive to Commercial Credit Commonwealth Elee Conrotidated_Edbyn Continctial oil of Del Crano Co

.

Crown Zellerboct: Cuban Ainer, Sigar Diamond Alkali Dow Chemicals Dupont de Nemours.

Estiman Kodak El Paso Mational Chas Eric Kafirunel

Family Flowtier Corp.

Ford Motor

General Electric

Bethlehem paced with a rise of General Foods almost 2 points.

General Markers

Gen. Phab Util. Gotty Qui

Gulf Oil, depressed resently childden Ca

on disappointment over fullure Godrich BF1 Cu

to Goodyear Tire of an expected slack split

Heyden Chorteni mat:ratie, recovered 2 points Horstake Mintag Co

in the oils, Royal Dutch, also ingresoll-Rand

off sharply recently in reaction Inland Best C

Interchentical Corp. uneretainty. Int Business Machines

to the Surz Canil

3.

recovered nearly Texas Ch. Int Harvester and Philips Petroleum

rast Internodenal Nickel Internat Wal Paper, Tel 31

around

a poist. On the other hand. Continental and Shell last over a point each.

Air Force Orders

Bocin responding To big Air KAIPA

Fores orders, climbed nearly 3 in the aireraris while

more than 4 point.

It was a quiet day today with | HK Bank 1030) 1050 10 w 1940 North American Aviation lost some trade buying against

ne INSURANCES There was no parti-La reptantes

eular trend locally.

No 2 rubber per lo. Aug No 3er per

pot mister unbeded Blanket cre

No. 1 pale crepe

LONDON

1001-$6

דוד

was high grade with Boing, tiulf, Chryster, US 100 15.00. Steel and General Motors top- 1-424 1475 1560 6 1475, uing the netive list

or 1,130 issues traded, 477

19 360 30.30

Jiho Maitse co

Meat From Corp

New York Central

Olin Mathiesen

11 Revalori

Dwen-nia Glan

Penny J.

C. Cu

Fents. Salt Co.

100

134

#21

Kansas Power & fall

kenneenth Cupper

13311

I get Meyers Tob Co

074

I where Alteraft

4834

Low Inp

21

Lone Star Cement d'

Lorinville & Nashville R.

1013,

Lowenstein & Sons

931%

Minnesola Mining

7194

Mission Development

3712

Monsanto Clinical (6.

Unk

[150]

Montgomery Ward

421%

40

Mutocola The

Future closings were:

SHIPPIN(7 Wherlock

B 70

400 2000 let 0.75

2400 p

5.80

Locws added a point company

49

the

National Casti Reg. A"

57

National Datry Prod

No rubber set th

1000

10

of

onwunced the lease Bem ibrary to a Los

National Leach

$10

National Steel Curp.

AUR

102-1022

178)

ณ วน

Sept.

101-102

umquolel

DOCKS, ETC K Whart Dyck

Arsteles television station for 4 millory and in turn required; u

30xd

ADTLXd

477

1000 41

25 per

In ceni InterESE

the

7046

Aug

97-071

Nubber her th Aug

Providers

(0)

14 1390

500 w 13.88 2013.0

station.

Pacife Cux & Elec

31A

Pan American Airways

101

Faramount Pictures

224

01-552

LAND, ETC

Leadership

Parke Pavis Co.

123-123

HK Bow

Kan Humphrey

1.3 14:00 ANIA

G7

1250 1400

10

H-uity

Ampl

1 473

Nn

Man

301-301%

Settlement house

Trum UTILIDES Tenan

1.30 1.1123

Sept

31-20

Oct./Dec.

2924-2907 Yousunu

T

Jun Mar.

Apr./Jme

2834-2814 C. Light (0) 29.70 23.00 27-274

23 10

100

24

110

100 mm 23 y

1000 73.70

118 1

500 4 23.40

500 23.00

Juty/Dept...

unquoted

2000 un 21,70

Genusal markets, eif basis, poria

A

Sept pel

295-29% 20-291 29-20'.

C. Light (N) Electric

30

21 21.30

31

500 ur 21

1000 g 21.20

200 31

500 u 30.73

Estole crepe

thin

Telephone

Aust.

Bent.

thick

302 uniquoted

Amsterdam rubber prices were unavailable.-United Press.

Telephone

(N) INDUSTRIALS L'ement

200 12 23.70

roles, ETC

Watica

351

i5 70 11.70

JEL

10

250 a 3504

1. Craw 20.20

CUTTONS

Texille

440

INVESTMENTS !Yangtze

0.00

400

6,00

The market was stendier with spot quoted at 30% pence per | RUNDER

Prices:

revenue for New York Sugar

TWA's second quarter proft this year was $1.148,000 or 34e a share compared to $3,139.000 or $1.54 a shore in 1055.

Six months sumendova

Market

New York, Aug. 14. World No. 4 sukar

futures closed one to two points lower with sales of one contract.

3

Domestic No. 6 ruger futures closed one to two points higher with sites of 132 contracts,

of With the

exception transaction of 100 contracts in the nearby Scptember domestic wis futures trading position, dull.

Contract No. 4 (world)

Dutry

Carp

200 31

24 00 24.20 2000 24.50

140 € 34.00

IDLH 4 24.70

were higher. 393 lower

Exchange New York Stock bond volume was $4.120 000.

American Slock Exchange was 710,000 shares. Dow-Jones

were:

30 industriais 20 Falls

18 utilities

63 stocks

40 bonds

closing

Comm. future price indux Comm, spot price index Moody's index

averngos

Closing Prices

500 12.0 Allen Inc. ACT

Singapore

Stock Market

Singapore, Aug. 15. Brokers today quoted the fol- lowing stock prices:

Allied Ched]<

Allied Mila Ing.

Allis Chahneza

American Airline

Amerkan Cable & Radio Corp. American Cyanamide Co Arm. Maub. &e P'dry Amer. Forsign Power American Metal American Bmelting Am. Sugar Ref. Amaroon Tel, & Tel. American Tub. "B" Anaconda Copper Aureo Steel Armour

$17.27

106 34

To 7A

Philip Morris

Procter & Gamble Co Pittsburgh Plate Guas Publicke Industries Pure Oil

fladte Corporativa. Sepublic Steel Reynolds Metal Shell Of Co.

Saint Reg. Paper Sinclair Oil

Sucony Mobiloll South Puerto Rico Bugar Southern National Gas

Southern Railway (Com)

187 23 Standard Bra

04.03 Standard Oil of Cal. 100 04 Standard Of of Ind. 104.27 Standard Oil of N.J. 422 00 Sterling Drug Co.

191

Stokety-Yan Camp. Studebaker-Packard Corp Swift & Co.

Texas Co

Tide Water Asan. Ou Twenty Century Fox Film

109sxd Union Carbide

33% Union Picide Railway ished Aircraft

33

24

U.S. Gypsum

545 10.8. Line Co.

73 US. Rubbor

301 US. Smetting

141 US. Steel

302

Warner Bros,

56% Westinghouse Electric

West Va. Pulp & Paper Woolworth

473%

--United Press.

NAMESAKES

Answers:-1 Plot, 2 Justice,

6 Ap- & Tragedy. Roman, 10 Heavy.

plause, 6 Thyestes, 7 Crisis,

11 Actors, 12 Dynasty.

1021

183%

7731

3

1944

Hrtelwin-Lima-Ham.

Baltimore & Ohio

DOL

Revenues

1950

1950

$112.319,000 $99,034,000

Bendix Aviation Cory).

521

Benguet Com

en

Net Earnings

Sept.

3.30

|||||

Orl.

Per Share

1 $3,390,000)

$1,334,000 $20 (1.02) Based on 3,338,955 shares out. Harding by 1980; 5,336,747 In 1953.

Mer

May

3.31

Tin

July

בה.il

Ord.

Sept.

3.34

Febrer & Neave

Opening Batu Lintang Rubber Co. Ltd. $1.02

Petroleum British Borneo

Spaciouve

.... ON- Consolidated

Smelter

29/- ord,

Bethlehem Steel

104

3 Climax, 4 Declaim,

Hoeing Airplane

Borden (The) Co.

01

Burroughs Add Machine

42

Canadian Paelle R.

35

Cape 7. 1. Co.

14%

$1.52

Spot-(ennis per

PrLLEY & Neave

Lid 15%

Cuba?

3.37

own, pref,

23.00

Cut. Tractor

Celanese Corp, ..

C. I. T. Financial Corp.

DIE

154

45

Lucius tragedian).

Seneca

Centraal No. G

Hongkong & Shanghat Bank-

Sept.

ይኩ

ing Cap

$805 xd

ps/g

Nov

1.58

Kempas Lad.

$1.75

Min July

1.41

Spot-cents per lb. cif NY

ex-duty)

$.51

6.65 United Press.

..

$2.85

fedaling

REAR CARD 38829

3301 30216 3014 Wheat, No 3, 101 ents; No. 3. 140 cents-United

Preis.

Futures closings, in cruzeiros per kilo were as follows:

One of the most Etficant suggestions of the Commitee is

developing in regard to alternative port to Colombo.

The Sethusamudram

an

Navig London Markets

In route. it stated, could ne be a complete alternative to the rod-Ceylon routes unless it had on it a port and harbour which

In the US the average price of would provide the same fuellities one-inch middling cotton at 14 for ships using the route as did designated spot markets Was the port and harbour at Colom- 33,03 etnis. Sales totalled 13,472 bales. United Press.

Tight Credit Restrictions Effective In Germany

Frankfurt, Aug. 14.

The Bank Deutscher Laender said that its tight credit policy had been increasingly effective in the past few months and expansion of demand in many West German markets was slowing down,

50

on the

other

Island.

'

side of the !!

Maintain Improvement

London, Aug. 14. Business

stock on the india's southeastern nort of market was small but Tuticorin was, in the opinion of

Lunas Rubber Estates Ltd. 0.15 Malayan Breweries

New Secundab Rubber Co.

140.

Tin Lid. Baffles Hotel Singapore Cold Storage

NEW YORK METAL South British Insurance Co.

minor port among the eastern ed; most sections showed.; ports of India and at present small gains. handies about 459,000 tons of

cargo a year. Its development,

suggested the Committee, should

be so designet from the outset but

FUTURES

the Cominittee, an obvious Yesterday's cholce. Tuticorin is the leading | provement

modest was maintain- today as

im-

New York, Aug. 14. Prices of metal futures closed

follows in

cents per

Lend

Tin

Markets ignored Wall Street

AUR. Sepi Aug. Sept

15.10b

13.10b

U7.800

97.405

were encouraged by the

Zinc

Copper AuR.

AUR.

13.02)

Sept.

13,00b

Sept.

38,100

bonds Brush Government

two edged upward in one or eases as much as flytysixteenth

chain Amorg Industrials Etores, engineer, shipbuilding aircraft-makers attracted

United Press.

LONDON METAL

PRICES

that it could be used by all ships July trade returns.

which at prosent use the ports and harbours

Cochin, of

Colombo and Madras.

Two-Way Traffic

The

canali and Sethusamudram

But, said the Bank, it was necessary to maintain alone is estimated to cost about buying,

6,700,000 rupees (about £502,500 American favourites mit some

credit restrictions because West Germany's sterling). It would have two-selling, notably Borax deferred

way traffic. The lock in the general economic was still extremely unstable,

canal will cost about 12,000,000 which fell nearly 4th sterling

to 10-3/32 sterling. rupees (£900,000 sterling).,

Germans were idled but the Economic stability might bo rises by 622 millions in May and

In the interests of navigational endangered the growth of 310 millions, in April. How convenience and

BRfety

The Potash bonds lost 1 sterting. Banic repeated ite Committee attaches over, the

great im Japanese hardly stirred... It previous view that the increases portance to the inclusion in tho Oli sharte soldorn showed on was also threatened by wage did not represent long term ten-scheme of a lock. It points out the tape. In the main they lost increases which axceeded in dencies but were due to tem-that during the northeast mon ground notably Royal Dutch, creases in production and were|porary factors,

soon the sea irvel in the Palk down three-fourths steriing to Straft is

likely to be higher 70.

West Germany's foreign change reserves 'continued.

EX-

a permanent cause of price in-

bid

*x-

2001.

39.30b

London, Aug. 14, Prices of metals closed today

Lid.

| Structa Trading. |Strašte Steamship

Undied Engineers Ord, Woerne Bros...ta

Cumov-China Mail Special.

London Foreign

Exchange

New York

Montreal Amsterdarn Tiries Frankfurt

flats Paris Zurich

Others

Prem

London, Aug. 14, 2.78-3/16-3.78-8/10

·112-11/19-2.72-33/10 10.04-10.049% 139 234-130744 11.70-11.7014 374724-174834

12.10-12.384 unchanged-United

in sterling per long to, as fol- New York Foreign

lows:

30111

buyers sellers

Tin spot 3-month. Copper spot Smanth Lead 1st half Aug.

Nov.

773 775

760

300 305

2ño 1xt half Aug.

Nov.

15

0015 0

United Pren.

FUTURES

Chicago, Aug. Prices of lard futuroscolosed In cimis per lb, as follows:

The Bank predicted. • creases. The Bank, sold that dis

than In the Gulf of Mannar and Buez Canal fell 1⁄2 sterũng in CHICAGO LARD appointingly slow increase in increase in imports which might the reverse in likely to be the 65%-United Froms. · saving deposits showed the pood considerable foreign

case during the

the southwest mon public were to some extent change soon.. The present: gold

M nervous of last year's excessive and foreign currency reserves

In would cover seven monthe im«

the absence of a a lock there expansion.

ports based on the monthly would be a strong current which The Bank, said West Ger- average for the first half of this would lead to erosion of th many's gold and foreign ex-reer. Gold and dollar reserves banks of the conal, in mekistions

continued "change" "reserves

to alone would cover only five to hindering navigation.

· Imports---China -'rise. They increased by 715 months

Mall | A spokesman for the Governi» 2314; ciowe 234, 'net change off

nement of India, maid/tist = "the | Va, pales 2,870,2 milton marks in Juno against ' Special'ı

TORONTO EXCHANGE

Stoop Rock him? 234

| Canada

Exchange

England Do-da

New Zealand.

South Africa

Argentina'

Other

New York, Aug.' 19.

futures 2.75-20/32

2.78-11/10

0340 were inchanged ——Visited

Exchange Rates

(Roman

TYPHOON MAP

with revised codes in force as from

1st April, 1956,

$500

MOUNTED

$4° UNMOUNTED

from

South China Morning Post Ltd.

HONG KONG GTKOWLOON.