1
THE CHINA MAIL, WEDNESDAY, AUGUST 29, · 1956..
TRADE and
COMMERCE
Suez Importance To Britain
Canal News Is Exaggerated
Helps London Markets
London. Aux 28
A mal-seskola Edly frHERVANT by news the Egyptian Pres sid: at Nasser will men with a Ave-nation Suez Commitire brought
Tractional gains
to stocks on The Loudon, nge today
Exch
British
A
Cloverrunen!
1210
pushed jetad
Chalked up
to £
Cre
Bukastojak prokid
news from
kly
22.022 200
the Mal-ENU. Pheros were in detrand.
Shell. Home
11.1 14
Ch
+z] 4411*]
14.
1
】་ ་།
10 111 11
F:i༥:དྷ"༈་》
Jufer dealinute
Pett pleume
Gold store inaba 1a vane
on Continet tari 195 in
Cor
unplee!
hokan benderniser
ch
in foreight hand
יו * *
Jate
hich wi
prinkled
MORE SENSIBLE
USE OF COAL
IS IMPERATIVE
London, Aug. 28.
Britain's dependence on the Suez Canal has been grotesquely exaggerated.
WORLD
COTTON MARKETS
New York, Aug. 28. Cotton futures today paused after Д spirited
but opening rally tained a good sized
throughout gain
WORLD
RUBBER MARKETS
New York, Aug. 28. No. 1 Ras rubber futures to 66 closed today 63 points lower with sales of
Closing 87. contracts.
prices: Sept. 37.10; Dec. 35.00.
+
上
Rex contract closed 40 to 70 with rates of 34 main-points lower
Supt. 35.20; Price: netcentracia
Nov. 33.08; Jen 32.80; March 30.25; 31.85: May 30.28; July Sept. 29.35.
the
Spol house gelling in Octob÷F, technical realising, nlong with
a rise in the spot month and premium to ceni a pound over
She may gain more from the external session. impetus to more solidarity on the home in the front as already perhaps seen steel and motor strikes, for example then she stands to lose from any probable outcome of the Suez dispute.
1
gyud and a the ages
kel Nast
by
「,
11
The Hier
ka
ejatang LLY
vib
Wall
A!!
TEL
Sunel's by trught
Ultras
เ
Singa
}
!
1
the le-time Pres.
a
the average loan rate, acted to
brake the initial vise
AMST
a maximum gain
$1 80 baler,
the list clised B
to 17 points or 25 to 85 cents a
over the previous close Opening prices were up 1
Standard contract closed 38 to 68 points lower with of eight contructs,
SECTION
Dacron Staple
Price Increase
Wilmington, Aug. 28.
E. I. Du Pont Do Nemours & Co, has an- nouseed price Increases on two dieron polyester staple fikre products which are used in making shirts, blouses and other apparel. Effective today. Du Pont wald, 15 denter dacron is booled five cents a peniti to $1.45 a pound, while 1.25 denier is advanced 30 cents to 1.50 per pound......... United Press.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Business dong on the Hong- kong Stock
Page D
Underlying Strength Of Sterling
Unable To Show
Sterling's recent
London, Aug. 28. behaviour implies some
underlying strength. With the D-mark distortion and the Suez crisis running full blast, it does not get much change to show it.
10
the
da: CHICAGO GRAIN
1056
But the background marke fluctuations is that, the absence of theže (wo ruptions, the autumn of might have resembled 1933 and 1954 when the Brilish auth si= | ties were able to make light of | the suppened third-quarter pres- sure by cutting the bank rate in the one year and by tarily making big repayments of external debt in the other
volan-
With hack, they would have
bern atile 10 da something similar this year.
This Exchange amounted 10 ap-
Jules
Prices:
Sop1
34.00
Doc.
33.15
Mar.
31 TH
30 qu
May
of
July
29.80
AUE
20180
Dandere reported
f
generally
slow ratuation today.
A good
morning proximately quotations tran: nelions
Many
Farris Keizers
BANKS
Kink
INSURANCES
10.0
11.01
ILL
43
10
New Orleans closed
deliverica touched
1
11
Baton Ind
Ketrat
+
otevo people
could må prwebly be a
Abudan's zutragena Eart
armount, wholly which may enough
BUTALIN [ 65
tif
13 points
11
Beibeh, well
10 to 17 peduta
All 1907
extreme
! petual
Alle
111
30 ml.
ין
mody
Ametoap
Flurry Of Selling
Wall Street
On Wall
Near The Close
Less Stupidly
It they immed their Freely to stupily.
ently, the British might bother
have Me
I
À-power unve
Meanwhile,
2013
ake net
nearby highs while December duplicated the rea- son's high, getting up to within
Facky remained Azuree
part of the terminal market in terest centred in between-denjor switching operations.
interest buying
while other egligible
awrit continued to awali outcome of the Suez altuation and the fa-
few points of the 34 cent line, ponding long weekend holiday-entat
WIL
en-
offerings grin were Shipment selling October
moxteral but held generally SHIPPING couraged by a rise in the certo ceny a pound over tocal feited stock and a technician's buyer ideas. Spot prices may about beber that current
anet to attrnel au re coltan fender
bets the 30-
5.000 world-
A leading spot Arm was credited seller of ad
Detober The Ce Indes berated stock ruse 308 bales to
Any parks
To przed ralioming mainly propaganda
The serious probieni
Sum-
how
ut
The market was 'ay.
today
kilogrami, eif Sept. as follows:
3.780 bales The October openclosed intrest totalled 224,900 bates,
Liverpool, em- Firniness inued unfavourable crop com- ments and expectation for be
chie cut or the Gover ament's September crop rstimate
to enetanage the consumption of all the podret tot has to Surducci
these
*
A
A ftud of Unires and ungl the Western can develop countries
send thike jbetter mat if their own cual, the
Supply A-power
Denied Lack
Temporarily they
have been
MARKET
Chiengo, Aug. 28. Higher prices prevailed in grain Futures at the clow of the Board of Trade today
Buying
market
hroughout!
uppenred
und emily
In
the For Unued The
The rassion. bullish traders wie made
of profit-takers, thras engaged unt others 15 shettovering.
recently-sold- why uplenished
cut grains.
A
$420,000 Nendenied the luck, but if the wh
substantial bensi derlying factors gre pist and the morning's
appears, they will exert them- | kom expect business. selves eventually and meanwhile they will mitigate the effects of
temporary adversities
כון !
1:50
Naj**
The July figures al the
serves were
for briter
might have been feared.
gain of $20 million
It compares with a lowes 243 $130 mililen in July last year. when there was something like
run on sterling
sterking strengthens.
Not Impossible
Japun
er mo
bought 1,345,000 bushels of soybeans, while the United Kingdom bought com.
Whical eloved up 1 10 21⁄2 cents; soybeans up Ye to
Mur
137-
than
The
he officially
cenis
Futures:
Wheat, No. 2. red
described
encouraging
Spot
21715
start to the third quiarter
Rep 216 21716
218-219
<+f
Dey
1931
23 a
22444-36
No, 1 Rss
A
MA
22912-14
Was pound.
al offered
35 cents
El
Who Lik
#07
7 90
May
22734-3h
July
222
bKS, BIG
Corn, No. 2, yellow
AMSTERDAM
K Wh Dork
KA
M
41
Prices guilders pir
Pidvident
(01
13 00 1420
123 ..
14
In every one of the first seven onths of this year the reserves have managed some sort of rise. With a total of 553 million to
Spot
1831%
Sept
Dec
Mirt
14234-19
MAY
14594
No
rubber No. 2 rubber N.. 3 rubber No 1 Preze
272 hom.
2,08 nomi. 2,02 nom.
LAND, KJ 4' HK Titel
FLK F
13 30 3000
15%
500
in 60
be paid to the EPU will difficult for them to do it egun
be
July
147
ye
(94)
CHL
TOU 68
this month unicas pendiment
Bril
1421
2013
Der
14014-15
343 nomiumgala ass
10 00
240 6
1540 SHS
Oath
1033
20
Sept
SINGAPORE
Dec
Tinuet
mark becalment,
1
clarat
OVERRI
KULJETTAJIEN
100
!
1-
***
No. 4
The market
quiel WA усту with little race support, Prieta ULITIS Ittle inter in the day
Star Ferry The Government weekly crop sugged a
rep led te sub- but there was no marked sejling Ya :tuntia.! Feliet 1760091 drnuight į pressure. Prices-
10-90% a farge section No rubber per it Sept.
Out 985-98, conditions over
Other
Nov. unquuled z I t*+ 1/ the growing
25-01 repuris nofel that No. 2 rubber per th Sept.
Line
Nu 3 Lotten insects are still on
RUDAER An Burl
7031-14
1.45
Soybeans. No. 2, yellow
Spel
1 32.
T
24 10 24 40
130
1000 DO
2420 j
See the Egyptian and Ger- |
dey plopme
341941
Nov gravite
135
strong!
Ju
23714
112
240
< Light 12 24 40 24 NO
2423:
10 24.50
at is not impossible.
Light (N) 21 20
22
500 $1.80
130-140
'cele
31 19 32
18432
Telephrase
14!1-01
23 20 25 30
91-02,
agah lo
Beralex Aviation Be Cazzo, Bethlehem Steel
Altulane Where Th Bolest her cu Barrocha Adet Muchstre Candian Phely R
Coup
Ma
Tretion-
Spot rubber unbaled
U-DA
Telephiusie
IN
24 20 24 40
70025 1000
1000 29.20
$13.00
-United Press,
24.10
It ите
Month
Vaheme Om intercnt
Blankes crepe
77-78
2300
£3,000
224,300
No.
1 pale crepe
#17-119
o produelin in the past
[}<
20,00
837,100
years and by the Chase Man-
Mar
14,000
302,100
LONDON
KOMLJA Metal I
MP,
Con 28.70
175
393 In
steme + 1 u
14.
rexalds
25% hating Hank's est.mate, which it July
as conservative.
May
12,100
218.100
STORES, ETC
11,600
121,400
Dairy
10 10 10.30
*nal | Oct
8,500
70,000
Walm
Carl Tractor
ну
Celinrae Corp
CIT Paancial – Vojt Chase Muhut Mark'
50
Production will have to rise by
turther 150 per cent in teeming ten years, making a five- 15 year My laid expansion in the
Ther
5.000
27.200
COTTONS
Tulal
91,100
1,302,100 baies
284-2
NEW YORK
Settlemeal home term.
Ich Ent
October
2014-20
1956-65
November
211-202
December
20-26*
34.30
Ust./Dec.
13.73
Jan./Mur.
27 27
33.80-07
Apr/June
3377
39.02-53
September
2.92
October
12.21
November
12 13
Fatale
New York. Aug. 28. Stocks moved irregularly through another session today, enlivened only by a flurry of selling near the close when credit another notch.
The credit tightening earne aj the form of an inereuse of th percentage point in bankers ac
the third in a ceplaner rute-s
I called the nation current efforts to ward of in-
Natiotary tendencies by mik
ing
Alve.
borrowing
A few shares
F
exp
direlines 2
than 3 punts each in Du Pont Laki
Alveraft, United
Santu Fe
Jill
1
wen migh
down the averages
istics held LLL
Costs were
Chrysler Malcom (bax Molybdenum Coltale-Pain olive (i Comateryal Credit Contrntziwenith Elec Pernodylated Edison
wirlementinetal Oil of
Craze Co
Brown Zolie-plate-li
Culnen Anel Sugar
Dicu-trials tell 240, ulzzel Akary
total 1.108 issues trad.d.
and utilities D 04
were lower, 299 higlier.
Trading was at a
very
upped
it of the Middle East is ther
marginal many of
powerhouse
of its lamthords. ants and doorkeepers.
our dependable.
Harring some snger 1%ality. requirements of
art
138.measured by the near-doubling | Des
dive
43'
ב
וth
INDUSTRIALS
Prices of futures closed today
as follows:
The market was quiet bul steady with spot quoted at 28%
pence per lb. Prices: No. Rave aput
Naaya
12 40 12.50
7 30
MISCELLANEOUS
INVESTMENTS
Vagter
Spot
Get.
Ber
Mar
May
Juty
★ br
Des
27-285
May
Spot
200 1h
the sensual pre sure,
300 24 40 per time is not very likely Bul
Some of the short
stions
and depressing factors must be
pretty near the limit. With the British Government's present air
of determination, might 24.20 fakte much
China Malt Special.
to rovelze
LONDON METAL
London, Aug. 28.
Prices of metals closed today Interling per long ton as fol-
Barley.
New York flour
TUCK
WINNIPEG GRAIN PRICES
Winnipeg, Aug. 28.
Pricer of grain futures closed
in cents
bushel ea per
7.50
200 $93
PRICES
793
10
12815
120-15
not
m
today
tellows:
Dals
Oel
Det
Mey
Rye
Oct.
Dec
low.
buyers sellers
May
742
704
Barley
The spot
3-month
701
202
OVI
103)
Copper apbt
294
2041
Dec
100
3-month
2931 204
May
18012
Lead and half Aug.
114
145
Flaxseri
Nov.
113 114
ન.
338
Zine 2nd half Aug.
041
Dec
Nov.
时
131
May
201
United Press,
Wheat, No. 3. 1614 cents; "No. 1.
Sh
13246
No Dependence
Rately ronsidered, there is dapunteney either way: there atje - 42nd, nae.
The Middle Eastern oil se, da the Western market just as much
is the West areas the vil; it has
other adequate market.
But the Middle East N 1,1
40% The West cannot wish .ts all
ut the inter-dependence to come
NEW ORLEANS Prices of futures closed today
in cents per lb. as follows:
33.84 33.73-74
General markets, eif basin, purt
277-281 2742-2714 35! crepe thin Sepi Estate crepe thick Sept. 361
-United Press.
Wool Prospects Good In South Africa
Pretoria, Aug. 28. South African wool farm- ers can look with confidence
to the new selling season.
which starts shortly, accord.
Singapore
Stock Market!
Singapore, Aug. 20.
Brokers today quoted the fol- Exchange Rates
lowing stock prices:
Opening Halu Lintang Rubber Co. 1 $1.62
Petroleum HLh Borneo
Smellers
Syndicate
Consolidated Tin
ing to a leading article in New Serondatt Rubber Co, the South
African Wool Petaling Tin Lid.
Raffen Hotel
Desingapore Cold Storage
South Brish Insurance Co.
Ltd.
148), cerds -United Press.
NAMESAKES
Answers: Lost, 2 Grazing, B 8 Crook ↑
0.963 Tune. 4 Tother, 5 Flock, 15 83 Sheep, 7 Tamba, 12.63 Pasture, 10 Ewe, 11 Nursery, 12 19.50
Busines Won done in the local
markel exchange unofficial norning at the following rates:-
.8. dollar (per $1) Sterling notes (per £11 Australian notes (per £1) 27/64
Indonesian rupiah (per 100) Slam leaf (per 100) Singapore (Straits)
27.30
Poem.
Little Bo-Peop
1112
31
4
137
33
IT
1
Out of
Dupont de Nermutare
201
539
tum Kodak
+1
Pier National Fan
Ene Hasmah
21
slow
Family Finance Unp
244
Ford Motor
57%
472 always a rational plaer.
37
301
ubject. -
China
| Gifodizeh 8 Pata
Special.
*7
Heyden themtrai
15
Hatake Mining to
34%
Ingersoll-Rand
for
Inland Steel Co
14
Lacking trader's
Luterchemical Curpi
56
Int'l news MachineN
403
Cyril Lord
LIVERPOOL closings, per lb. were as follows:
Old contract
Spot
Oct.
Dnc.
Mar.
May
be-
July
M
Oct.
Dec.
Fulures
32.113
33.72
33.00-01
12.90
02.19 32,70
59/-
Im
pence
Oct/Nov.
Dec/Jan.
23.20 23.80
Int'l Hat Vester
37
to make com-
Interballemal Nickel
10714
International Paper
127
Int'l Tel & Tej
314%
On Duty
Mar/Apr.
24.50
May/June
21.40
July/Aug
23,20
New contract
Juhn-Manville Co.
Kanrax C. Power & Ligiat
422
Oct/Nov.
24.05
24 60
Ord.
Franer & Neave Lid. 7
Fraser & Neave Lid. Ord..
cum, pref. Hongkong & Shanghai Banke
$1.95
89.00
ing Corp. D
Hongkong Tin Ltd.
$075 9/3d
Kempas Ltd.
Lunas Rubber Estates Ltd. Malayan Breweries
$1.72 0.75
82.07
Ltd.
Kennewoft Copper
xd
24.08
Liggett Meyern Tob. Cu.
24.48
Lockheed Aircraft
47
2448
Board's
magazine,
$2.49..
81.40
Loews Incorp
21
д
Lone Star Cement Co
801
Nov./Dec.
34.50
Wolboer.
Louisville & Nashville A
DU
Lowenstein & Su
22
401
National Dairy Prod.
+
National Leaf
with
National Steel Corp
4012
42
437,
401
119
70
50%
7315
1
421xd
0312
444
52
Oct.
Dec
Mor.
May
July
unquoted
38.35 37.03 30.70 unquoted
encouraging point
The article points out that Straits Trading
ите there
no signs of excess Straits Steamship United Engineers the chief marki Wearme Bros. supplies in
ard thut facturing countries markets have been well cleared for the new season.
"Another
USE A
Ord. Erediv-China Mail Special,
New York, Aug. 29.
$1.0176
unofficial 30-day
90-day
pace, the slowest shree Aukust
10. 1955 with humover totalling
Only 1,400,000 shres.
Lack Of Interest
This
terest in
continued lack of in-
market, the evidenced by light turnover, was soen as largely renonsible the easing in prices.
any
were
7:005
Incentivce,
hesitant
mitments, especially in view of coming long Labour Day
the
weekend
One of the day's few features came in usually thi-ucticed issue Vertientes Camaguey
which climbed nearly Sugar
high point to a new
on the
day's most active turnover and held of the rise at $94.
Steel shoes had losses rang- ing close to 2 points in Youngs town Sheet & Tube.
In olls, Cities Service. Patlip and Pure Oil on around polni ench while Issues Middle East interests held steady as Egypt's President agreed to attend the five-power conterence on the Suez Canal
Motors were narrowly mixed. Exchange New York Stock
General Eleebie
Guneral Footh
General Mutors
Gen Pub Und
Gelty Ou
Glidden C vi
Glyvar Tyre
Mesnil iron Corp.
Minnesota Mining Mission Development
Monsante Chemical Co
Monigamery Ward
Motorein fe
National Cash Reg. "A"
New York Central'
Olin Mathieson
Otis tesaturn
Owen-inois Qings Pacific Gas & Elec.
Pan American Airways Parameini Pictures Parke Davis Co. Penny J. C. o Pesa, Salt Co. Exchange Philip Morris
ond volume was $2,750,000,
American Stock volume was 820,000 shares,
closing Dow Jones
WETE:
30 industrial
20 malte
18 utiles
05 stocks
40 bonds
Procier & Oamble Co, Publicker Indiatrics
averages Pure O
Comm. future price index.
Commn, spot price index
Moody's index
Closing Prices
Alton Ine. Acy,
Allied Cheetople Allied Mitts Ine.
· Allis · Chalmers ..
American, Alyliza
Amarican
Corp.
Cable A
201,06
Indio Corporation Republle Strel
Bheil Oil Co.
150.78
08.03
Baint Iteg Paper
Socony Mobitai!
170.58 Sinclair Os
03.69
100.13 Bouth Puerto Ben Suar
Southern National Gas
427.10 Southern Railway (Com.)
Blanderd Brandi
Free Material
Belfast, Aug. 28. Lancashire cotton leader
Mr Cyril Lord said today 30 that Britain was the only
country in the world that
disallowed yarns and fabrics
to be imported duty freo. Mr Lord, who was addressing
the Belfast Rotary Club, said 40"with imports Into this country
of 153 million yards of material from India, all of which came in
duty free, subsidised by
the
Indian Government to the extent
of tempener to a chi
BX while our exports to India had
to bear, a
Dec./Jan.
Mar/Apr.
May Sine July/Au
Egyptian Karnak
BAO PAULO Futures closings, in cruzeiros per kilo were as follows:
for South Africans producera i New York Foreign|
In the US the average spot that the vogue for woollen-typu price was 33,05 cents. Sales materials, which has lasted for iotalled
balas-United about two years, seems to be Press.
20,232
Exchange
and worsted fabrics are In this urning to fashion.
relatively Canadia fino, switch-over. short wools at which the Union England official
types and JP
outstanding more
a chilling u pound, New, York SUB rays that in the south Africa
35 per cent duty behind
and which India operated her textile Betivities, the disadvantages 31which the textile trade-cotton and linen-in Britain had to con-,
42
90
tend could be understood.
In addition, 00 million yards of duty free clotl came from 30% Hongkong.
0074
DOLL
MILLS CLOSED
"In the last 10 months," said Mr Lord, "more than 90 mills
i have closed down in Lancashire and 54,000 workers' have been sa put out of jobe
Standard Oil of Chi.
Standard Off of Ind.
Btandard Oil of N.J.
194 Bleep Rock
1023%
Bioloiy-Van Comp.
| Btudebakor-Packard Corp..
Swirl & Co.
40%
2:31
Radio
Texas Co.
Tido Water Awm, Oil
40
20
14
Union Carbide
12241
31
30%
United Aircratt
8
30%
UB. Gypsum
nevi
701
53
U. S. Line.co.
- 99
UB, Hubber
0191
183
US. Smelling
American Cyanamide Co....
Amer. Tore Power
Am. Mach. & ♬ dry
יידי
American Metal American Smelling Am. Burar Hef. American Tel & Tail' American Tob. Annetada Copper Asses Bleel Vann Armour staka
Baldwin-Laina-Ham. Haltimore * Cuis
51 Twenty Century Fox Film
149% Union, Pacife Railway
dishi Warner Bros.
04% Westinghouse Electric
1811 West Va, Pulp & Paper
14 Woodworth
When one considers, Mr Lord continued, h
"that because: Japan
buys wool from Australia, which she cannot buy anywhere else In the world, we take 040 mil- Eon yarde of fabrics from her
in the British Empire, one con not understand why the cotton in- 7dustry in Lancashire its in fis present state, and why the linan šifrado is diittauss here??-Urritas
Prose.
Prus
Market
The
New Zealand
2.79 13/32
2.63-2.05
2.78 1/32
2.77H
12742
2.781%
02009
1455
of
New York, Aug. 28. new season there will be a big Bigkum World No. 4 sugar futures cupply of wool, a ready demand. Denmark Gormany closed unchanged to z points renewed interest in some of the
con- main types produced in South Holland higher with sales of four
Africa and. by all accounts, con- Italy tracts.
ecomimle stability Norway Domestle No. O sugar futures truing closed unchanged to 1 point most of the main consuming pales
two countries-China Mall Special. higher with sales contracts.
Futures:
France
00181
| Portugal
Contract No. 4' (world)
Seph Det. Mar.
July t Bept.
Spot-(cenia * per
Cuba)
Contract
Nov.
Mar
MAY
Sweden Switzerland Egypt Frid
Iraq Turkey Argentina
Bolivia Civile Columbia Cuba Mexico Shorth
Venstucia 80.10-80.30
India 10909619003 2. Pakist
0133
TYPHOON MAP
with revised codes in force as from
1st April, 1956. ►
002014
$500 MOUNTED
Indonesia
from
South China Morning Post Ltd.
HONG KONG & KOWLOON
per ib,
May
London Foreign
Exchange
343Now York"
Montrest.
Amsterdam
Brunnel! Copenhagen
DANA I Zlabon'
∙London, Aug. 27
9.769-278-7/10 2.73-7335 -10.824
5.63th
10.34003414
3:2
400
0.00
Milan
Paris: Biockholm
Eurich
$4UNMOUNTED
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