THE CHINA MAIL, WEDNESDAY, SEPTEMBER 12, 1956,
TRADE and
COMMERCE
US GRAIN Britain Losing Argentine
CROP
ESTIMATES
Washington, Sept. 11. The Agriculture Depart- ment today estimated
the
1956 corn crop at 3,336,- 730,000 bushels. This com. pares with the August es~ timate of 3,143,779,000 bushels.
The top rrpreting Boerd ANS med this year's wheat
**D68 574 000 bushels, m of
or 724,048 000 urbels of 14 whet beers of prag wher
11
Wi-
London Stocks Trade Drive WORLD
Close Steady
London, Sept. 11. Stocks closed mostly morning un- steady after certainty on the London Exchange today.
RUBBER
LONDON IS APATHETIC,| MARKETS
SAY IMPORTERS
Buenos Aires, Sept. 11.
Criticism is being expressed in trade circles here of the failure of British industry to make any determined attempt
A modest afternoon rally hop-¡ to compete with other importing nations
anetrans
211 828 KM)
fermers hvert f
e give many sprinkling of small ne P day
+
+
:
1.sh Government
ortun
3241 14 an of
Tes
W 311389 (100) by the f
The ennen! Eje
WI
whead Leres ist V36 751,000 Branch last year nut a 30-you
289 008 bitshels
..
i3-
the el...
W
L
for the Ar entine market.
It follows
the
***
*****/N47134175
whe liter
יד la
New York, Sept. 11. The No. 1 Ras rubber contract Today closed 20 to 35
points lower with sajes of 50 contracks. Prices;
Sept. LCC.
31.04 32.40
3 points lowes with rules of 72 contracts.
The rex contriel closed 45 tu
3167
32 00
3) 20
3,00
ZU 30
20.93
Standard untraet elesed 70 )
Bept,
Nov.
Jan.
Mor
May
July
Srgit
75 points jower with It bortech.
Sept
Der
Mar
ไม
July
Seit
The lower
no saf
at as
30 BU
30 10
20.10
Landon
28.10
tren:1
dappuintingly, enginer 120d, "The only un- After a firm a penang, justeringen Elget Berplay at the pe permity issued for agri- a un antivity in 1 signs of irvent Argentine Rizal Society's ¦ Cultura) taietors during the last
Te passed feel not "Annual Show ! Palermo 1. 11
nhat three years were to these いま Kil.
to | Contacmal
with one 1 ragin
Bartanm exception for Birfare was de danger of losing | Thé objerg it exhibiting goals It buste als moved abria e # what has met the :|" pone at her side and best mar- at shewa is to make the goods. sales, Chemical, Bulab- |kets bernise of anally What he known paid to promote
ed cuited 15 Idel. mittative but how can you expect firms to | shaped the trend of the terminal Hlass wyle thru spots, and Borax jabowns at Paireme vas described jexhibit when they have nothing | market here, although a number by him as Advang swan set to even exhibit, let alone sell,[of traders were jillery as they Coppers opened cautionele he-
which might well turn into a with
future followed the faster-moving de- Oly seal grds Ibour to show
The British 'hamber of Come nest in the afternavon
merce here has selamatank 141
plasatin fru Har Pale.me
1.148.
Amer can Tobneve
15:01
nattaged a small advance
Soybeans production WAN Lest : 1 451 400 bushels
with best trala compares pletion of 442 557,000 bushels (**)
of 371,
Bet
1955 productions
Productioas
estum der
alher crops as of Sept 1 enes- Jar will Aug. 1 jelavtacan and 1033 production.
Crop
Rve
Fiu&wt༥l
Tobacc
יוויונין Fit
Mural out
1. King - hebe The ca
Po 4 cha
smd in line with Wall Stove
1: psz
!
Sept exttonle
And thunde
30 134 *
4
1955 productions
400 291.000
22.673
19 320
43 270 130
2.21 DATE
13 NAMMA
5501 472 (H) 23,5/1,000
44,230,0001
40-437 m) 1997.637.CANT
12.9138 07
53.612 0
237 NM,
3 451 46
12 228 M United Prem
Uncertainties Plague
York Market
New
The
numerous
The 111
Gwan
Pexi no prospects.
importa."
Enterprising
תנגן
velopments in the Suez sua - iton. Commission houses were moderate buyers with the trade supplying the contrucis,
SECTION
SYDNEY WOOL PRICES STILL MOVING UP
Sydney, Sept. 11. Prices at the wool auc- Lions here today aɔntinued to riso with virtually all types sharing in the Im- provement.
Wool brokers reportedl the market was influenced by strong demand Stum Japanese, United Kingdom and Continental Interests,
Mr C, R. MoKerthan, President of the New South Walta
Kurat Bank, raid the curren: high prices would swe}} Australia'n Overness reserves by about A £50,000,000 by the mid- dle of next year.
Wool circles were con- fident Australia would be able to sell its
at wool prevailing firm prleen. ~
United PresR.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Page
Canadian Industrial Boom Creating
Shortage
Labour
Ottawa, Sept. 11.
Canada's industrial boom is having the anticipated effect of creating a record labour shortage resulting in demands for increased immigration.
At the same time I set the
, background toe easy pasting adj
the bill authorising equal pay
for women, for equal weak, CHICAGO GRAIN
Industries, inder Federal Juris- diction,
Labour shortage is so severe. that granting of equal пу
har lly rights women conetssion at all, merely a means of persuading
Carustaz
4
*
ni
wotnen to enter the labour fores,
Official figures publisheri the end of August give a pc fire of full-to-bursting empley mem in Canada,
All Time High
As of July the numbe
of
MARKET
Chicago, Sept. 11. Grain futures wandered aimlessly, finishing with no marked changes from yesterday's
close, on the Board of Trade today.
It most the
inactive session for the grain ex-
was
Canadians with Jrbs at an all change in weeks. time high, uninely 5,780,000 or 201,000 more than in July, 1055.
of
At the same time the number and persons without seeking work declined to 102.000, Shipments offerings have res Business done cu the long-roughly 48,000 less than for the ported in more supply is coming keng Stock Exchange this morn- Ex-from
from Singapore, Thailand and ing amounted to approximately employment was already shapply by Indonesia, but prices agalu were $600,000. Non quotations and dechoing.
too high for local acceptances, the morning's transactions: Intra-dealer trading win slow, although some three sheets re-
cents
Despite this, the enterprising play Saud on le "It im West German had an official a lack of water dt vo But whuvitio sponsored Ly their
Stending ged Ministry of Agriculture, ady ang what we can i pau99925 were partly not bring on locative of restres
bringing in-two Fresian Holstein bulls and 10 heifers, exhibiting Ficcis
Them and later selling them. As an exceptional measure foreign
permitted in remit cattle sales at the ourable ewelinge
A Bit Ahead
TALEN
איזי
111
"
Invou -how at rate
The
Westie from £1 C219.3 trachan - elling TP, W thay in
han pean coun sendale
tries in the Aulentire mark
WI the all on the same n ..: Meanwhile, we heleve tant it is good poury armind the boying public of
1)
STURTCA
mained slack. Spot No. Iss, BANKS
Wis
quoted at 32% pound, sellers.
SINGAPORE
Buyers Sellers
Kales
ak Bank
¡
103 1049
31633
10 - 1830 *** 10
Thart Ava
200
240
| Cano
exhitals, the Germans Price sagged throughout the INSURANCES homowed some cameras, inter-day on luck of trude support. [keupus, sheep sharing machines There was
particular selling Lubard and other equipment from focal pressure but buyers were in-
and displayed them. affferent. importers
Factory Interest was without quoting prlees.
Price: very small. Local French importers band- No i ubber per . Sept DL-D1%
Together under the auspices The Argenture view was pul
Manager
o existerer
all be more milion
IT
spot rubber unbeled
by Hor
1 one of the of the Franco-Argentine Cham-i 2 rubber per il Sept gger retail stores "We should ber of Commerce and organised N 3 Air France, NG, A a similar Pavilion, The time (** wall come when ether imported; the French airlines, for instance. goods will be allowed to con- showed a scale-model of a Con-pr
stellation, propeliora turning and prete with Argentine industry.
in- theor our own goods will ictertights supping off and on
ate
New York, Sept. 11. uncertainties plaguing
Car an quality in continued challenge, he said. stock market were reflected today
efforts Despie the decline and lagging activity.
Government which sitecended General Juan D. ex-dictator 171, Peros, the Argentine market is Still just as closed as it was al
Lending stocks closel with losses of a point or so, with the mid-way about Ainut prices between the day's highs Iowa.
11
The decline, while heavy enough to pare close to i billion all sted from the value of
shares, did not reflect any real
relling pressure
Rather t
reating in
11
ruit. WHA
was a combination
Canal crisis.
etill tighter
the usual
view of th renewed
money rates pre-election
Sure 63 En Ca Cul Vynetc
Celine Corps
CIT Pumiseni. Comp Clase Manhat, Bank Chryster Mutors Cix Molybdenuo.
Colgate-Painoilve Co Comme retal Credit. Cosunonwealth Elec Coroidalest Edmon t'antinental Oil at Bet Crane Co
Crown Z Hierbach
Cubon Alter
Sukan
Diamond Alkali
Dow Chemienis
(1
Suez
ย
and
| Eastman Kratak
con-
siderations. Profit-taking seemed
In order to many triders.
Turnover increased to 1,920,- 000 yesterday but still was fi's
1rk
from heavy. Volume picked up Inte
Br responded from their lows.
I
L14
Loss On Average
Industrials clored with a loss
of 3.40 in their average, with a drop of 0.89 and utilities
Pugde Nemours.
El Pan Mattotal Gas
Ene Hoch
Fonaly Fance Prog
Ford MrAL
General Cleet e Corneral Mons
General Motors ten Puli 1961
Getty
Chaden
14
15
LONDON
PROD-10
vident ATI 13.80 13.80
sleudy perce Trust
UTILITIES Tram
1 (0) 24.30
24%
According to the Department Labcur reports, although
inlux
the
The
was
truding lassitude chused by the pending govern- ment crop climate which was announced at the close action today.
Traders evened up commitments and then wall- ed for the announcement.
The export market showed a the active today.
30-
Exporters ward to
of there
usual na
•tudents of seasonal workers into the other Held, the demand for labour has пое "pinduced a tighter man- power situation than in day, year since the Korent was build-up
195"
A Reflection
of
This is only a reflection
itself. the industriai picture Latest figures, up to the end of June, show that the composite Canadian industrial Index of Production has risen to 7.8 above
for- 01
are looking further purchases wheat by Japan this week, 49 well as buying of corn and oals by Austria and Greece. Portugal, Greece and Pakistan Blo have been authorised by the Government to buy large. quantities of bread grains,
Wheat closed up 14 to 1 cents; soybeans up % to 1% cents.
Whent, No. 2, red
EXHI
42
SHIPPING Salezat
(07 Wheelock
500 23.80
6 74
Oct. Nerv
DOCKS. EC
urkpooled
K Whart Luck
20
41
42
10041
2007 13.80
5412-804
DO-RE
LAND, ETC
7217-74%
IK Hotel
15.30 13 40
1300 15.30
116-[18
HK Cand
47 ብኾ
600 +01
Humphreys
20
Inck
{
The
side. A French car firm was said to have borrowed recently imported model and exhibited it, British Arms could have ex- bited
aircraft the small Puipped for spraying erups with insecticide which
The market was very with spot quoted at 28 per lb. as follows: No ( Ras spot Settlement House terjat
Out
Realty RUBBER Amela.
3.45
145
1,50
1.50
100
In the manufacturing dustries, the rise was 75.
last years figure, holding of 7.7 above the 1955 level for the first six months of the year together.
Spot
Sept.
27315 223010) 2229,00 Pla
Dec.
tuken
Dias
May
2331- 2343-292
July
22015-36
in-
per
Com, No. 2, yellow
23.40 2330
201 -27%
cent, in mineral production 7.9. 750 23 Output of electricity and
Ras
Spet
1650
Star Ferry
198 137
Yaumati
100 ton
2013-201
3500 24.30
up 10.7 per cent. -Chine Mail Special
Sirp
Dec.
atnr.
Nov
275-26
Dec.
274-27
CLINIC AND 221 Electric
May
301
31
July
Out./Dec
31.
did not. 12 | United Stules
models on stew
A French
andi had Their
Jan./Mar
Apr./June
2014-26 '■ 2010-2014
Telephone
101
Ryc
245 24 00
July/Sept
2346-239
London Foreign
Skep
Dec.
. Sept
20u-27
UNI
23, 13 00
Out
2049-27
Exchange
Qale
Nov.
20-27
STOKES, ETC Daly Wal
384 306 12.80
15 70 15.00 13.40
1500 361, 500 A 12.00)
London, Sept. 11.
Sepl
Closing rates were:
Dey
2.79-5/16-2.70%
12.53
200 15.90 24012
500 £2,00
2.721-2.7214
10.63-10.63 11.68-11.60%
Soybeans, No. 2, yellow
Spot
1. Стам
10,07%-10,97%. Sept.
2.00 buyers
1741-174134
2.57 buyer
2.83 buyer
Textle Coro
"YOUR
440
4.43
1000446
98116-001%
Stockholm
14.30-14.39%
Nov Jan MA
Allkd
10
Zurich
12.19-12.10%
2333%-2 237 20%-240 243
Brusin
139.10-130.15
Copenhagen
19.334-19.33*
Barky Sp-t
New York flour
49 the outbreak of World War much in demand here now. But
sk
Bul businessmen here generally ey 74% agree
$1
That the Fine when foreign goods will come Th 18
517% not far off. That more than lee
415.
40
124
Bloedreb 13 (
Goodyear Tire
Heyden benivel
Humatake Minang Co
.
Ingersoll-Itand
Zoland Steel Cy
interchensteal Comp
ralis | Inti Musness Machinen
Int'l Harvextes totemational Nickel metal Page:
jower,
a loss of 0.14. Or a total 1,128 iscucs traded, 828 were only 253 higher.
Weighing
on the industrial average were losses of a point
or more in Allied Chemical, Du Tyre. National Carbide, United Amerlenn Tele-
Pont, Goodyear Steel. Union
Aircraft and
years," they say.
Meantime, Wros!
30 French and kalian
IT
- German.
British Wary
I a German concern
port its products,
cannot
271-20
General markets, elf baris, ports;
| Erlate crepe thin and thick imqúcted
AMSTERDAM
The market was quiet loxuy. per closed in guilders
as well as
it applies Eastern European counties are!
for permission 10 bring in 39, keeping up a conefant promot, in
With their Feapital.
technical Prices 763. und ndvertising campagn
they go into part-kilogram, etf Sept, as follows: + the mowledge,
und Nu. nership with a local tr
The produce items locally. Bri- Nu 3 rubber
sh firms, however, are sul No
1 crepe ise one inch to every eight by equivalent West German cowary, because of the way Peron
expropriated
$14
survey age Buenos Aires newspapers 264 showed that British firms advie
y
2
*
17
rena Ar head
+75
14
125
2011
Julin-Manville Co
Subas C Power & Ekilt
inti Tel & Tel
Kennerolt Copper Largest Meyers Tuit. 'n Lockheed Aberaf Loews Frontp Lane Star Cement Louisville Nashville #
LUWetten & Sutin
phone. The last sold ex-dividendi Iron Curp
and ex-rights totalling SU
a
was the day's most active issue. Oils had louses of nearly 2 points in Cities Service, point or so in Standard of In- diona and Union of California but a gain of 1% points in Royal Dutch, the day's third most active stock.
New York Stock Exchange bond volume was $4,470,000.
Exchange Stock American volume was 970,000 shares,
Dow Jones closing averages
were:
30 Industrials
20 mila
15 utilities
es stocke 40 bonde Comm future, price index Comm pot price index .... Moody's Index
Closing Prices
Aiden Inc. Acy.
Allied Chemiesla Allod Mulbs Inc.
Radio
Allis ChairsOTH
American Airline American Cable
Corp.
American__Cyanamide Co.
Amer. & Forg, Power
Am Mach. & #dry
American Metal
America Emelting Americans Tel &
Atmerican Tob. "B"
Armeo Bel
zuidwins-Lima-Han Doodle Aviation Corp. Babybet Cons Bethlehem Bl
Morden (The) Co, Burrelighe Ads Marking
09.16
Minnesot
Minion Development
Monants Chemical Co. Montgomery Ward
Motorola lise Notional Car Her. National Dairy Prod. National Lead National Steel Corp. New York Central Olin Mataleon Otis Elevation_ Owen-Blinois Glas
Fedile G** & Elec. Pun American Airways Paramount Pictures
Parko Davin C20.
Penny 4. C. Co.
Penn. Salt Co.
Philip Morris
Procter & Gamble Co. Pittsburgh Plate Gloss 158.34
08 45 Publicker Industries 175.90 Pure Ou
92.71 Radio Corporation 10071 Republic Steel 18454 Neynolds Metal 433.50) Shell On Co.....
Bain! Reg. Paper Sinclair Ol
# 10
Bucony Mobiteli
South Puerto Rico Sugar
Southern National Gas
Southern Railway (Com.)
109% | Standard Brands
33% Standard Oil of
Cal
2014 Standard Oil of Ind.
24h | Standard Oil of NJ,
Bloop Rock ...
Sterling Drug Co.
14 Stokely-Van_Camp.
14 Studebaker-Packard Corp.
3134 Swift de Co.
Bif Tide Water Assn. Ou
Twenty Century Fox Film
173
Union Carbide
United Aircraft
Az Union Pacific HalfwOAYAKAN
45
1 UB. Gypsum
ts. Line Co.
au Us. Rubber del US. Smelling
UR. Steel
Warner Bros.
"3795 |Westinghouse Electric
West Va. Pulp & Paper
A. [Woolworth, wei
The West Germas
in advertising zoner, here, letosely followed by the flamanthers
Next come the Frenen and then the Brilishi,
Highly Mechanical
The our Brilish show.g af Argentine Rural Society's jannual exhibition led to tellers
is
נון
their investments
Continental Arms house their altractive, modern banditus and hire smart staffs man them. Most British flems keep the same old offices which
Deen using have first established them- the cives here at the turn ef
they
century.
The British still have an ad- to loen new papers. One British resident who has been in Ar+ vantage over their competitors they gentina for ever 50 years wete: because, being old-timers. 0611The United Kingdom the have a more solid customer list. The opinion generally prevalent inst highly mechanical country
Angio-Argentine com- 7 the world for farming upert in the
they attens. It was distressing to ob-munity, however, is that
The almost complete are doing nothing about
British machinery, abaence of
talning it. ง 31 lorries and implements.
"Beyond a lone David Brown
2014 | 6420 157 Dow
42
G
33
tractor, ulher well-known
Bri-
rubber No 2 ubber
INDUSTRIALS Comment Rape
SNOJ-LO.J
333 buyers | INVESTMENTS
-United Press.
20.60
Whe 200 # 108
1000 21,00
6:00 or 31
503)
509 24,80 1009 » 24 70 100 @ 24.00 6222330 1300 - 23.70
Cotton Futures
Stage
Rally
New York, Sept. 11.
Cotton futures today staged a smart rally after a faltering start. Some far months rose to new seasonal highs on a splurge of commission house buying, plus a trade investment demand.
main-
Losing Battles
Another example
illustrating from the
The rebound boosted deferred | July deliveries as much as 50 points- $3,40 a bele-rom the
lows. Extreme gains were pared on liquidation by day traders, but
Oct.
Dec. Tonti
3 tsh makes were conspicuous by the problem comes
41 their absence. When the Short- manager of a well-known Eng the list still closed net 7 to 32 43 hurn champion was being photo-lish Brm's branch office here 394 graphed, one missed the presence who said: "Our home affec 1134 of
18,000 8,000
110,500
70,000
60,30
37,100
110,300
1,380,700 bates
NEW YORK
Prices of futures closed today
34,400
13.60
17.80-60
33.76-10
13.73-74
ame
of the member
301
70 Embassy.
sold
on
the
6714
TIA
Spot October December March May July October December
NEW ORLEANS Prices of futuren
+2.80
closed to-
"It before
turned to COVER
in points hischer. New Orleans as follows:
cloved up 5 to 23 points. British London does not seem to under-
traders there is an all-out
Some stand that
сгор government Buenos war here to capture the market higher the Echoed "B.T.".
Herald's columnist;
Imports arc allowed. estimate, then 40% Aires
British cars are being imported. They simply refuse to authorise and lent Impetus to the rise.
* expenditures for advertising. 17 the matter is as yet almost
"Meanwhile, we are losing one secret,
after are not telling battle
another."-China anyone. And even the exceptions Mall Special.
:
-8712
Apart from one or two 47% importers they
413
42
are nat mentioning prices.
5312
"A typically British attitude
Technicians coupled the buy- in with several factors, 1. The Malce elections and Democratic victory and the possible effect day as follows: on future price support legisla- tion; 2. Signs of a quickening market:
BUY is: Just tell someone you've got New York Sugar inquiry in the textilie
something British to sell
and
43 they will fight their way to your
Dis door Unfortunately this is not 76o. For the Germans,
BE
0294
and French have been
Italians
mean-
while mobilling for an all-out Bassault on the buying publle."
验
Be Returned
Market
New York, Sept. 11.
3. Prospects for a tightening Supply situation later in the year because of the heavier loan Impoundings.
Spot October
December March
May
July
October December
1281
SABBBBER
3586FB88
LIVERPOOL" Futures closings,.in pence per Nearby months lagged on the
reflecting October 1b, were as follows:
at the 33 4 cont
in the
World No. 4 sugar futurion
closed today 2 points lower to
December
2 points higher with sales of 50 Une along with scattered hedge
selling contracts.
brokers Domestle No. 0 sugar futures delivery. Manphis
of British contract closed unchanged with wee An official of the
were
buyers Eccredited Chamber of Commerce said: les of 30 contracts.
October against sales of May. Traders said The possiblity of introducing
activity Was The certificated stock remained products of Bellah manufac- routine and without particular at 4,014 bales.
for exhibit in a Brillah feature. Futures pavilion at the Show was con-Contract No. 4 (world) beidered; but when it was learn-
50
2215
ture
4
Oct.
od that any article thus import-de 244od would have
to be returned
1201
July
to the country of origin after the
Bepl
discord-
at show, the proposai
The Government weekly crop a29ummary Bedd showers in the 131 stern beit end unusually cre 320 weather slowed theopinini
and harvesting of cotton. Fair, spotuigentia per lib. Bob Cubs) 14 Sunny weather favoured opening picking in the middle belt. rapid in harvest is Oklahoma and Texas with manjr bolls opening prematurely. 101 | Makuta,
han interest 139,800 370,300
4 cd as the expense involved Contract No. 8
(91) would have been out of pro-
oportion to the publicity value to
sey be obtained for the articles
Which, in most cases may never
again be importable,"
BE
The representative here of a
firm of agricultural
5.47
ith The
267
0.24
Oct.
1.00, |MAT
Volume
0.000
19,000
Mar/Apr.
AEREZ RAZRE
Old contract
Oct/Nov,
Dec./Jan.
May/June
July/Aug.
24.80
Now contract
Oct/Nov
Deg./Jan,
Mar/Apr.
May/June
July/Aug.
Nav./Dec.
Egyptian Karnak.
New York Mantrent
Amsterdam Frankfurt
Oslo Milan Porta
Others were unchanged
New York foreign rates were unavailable.—United Pres
Exchange Rates
Fluriners
6.13
was dene in the luesi exchange market film morning at the following rates!— U.S. deiler (per (1) Sterling notes (per 21) Australian notes (per £1
rupiah (per Siam ileal per 100)
dereflan Singapore (Strata)
200 lb. rack
1401% 14915
143-52 1421-5
130-145n
813.20
- United Prend
NAMESAKES
Answers:-1 Blows, 2 Chi- 15.85 valry, 3 Arthur, 4 Guenevere, 5 12.04 Armour, 0 Wonder, 7 Morgan, 100) 10.10
Knight, Green. 2700 153
A NEW
Sir Gewain.
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SAO PAULO Futuro closings, in cruzeiros per kilo were an follows;
Oci.
Deo. Mar July
May
37.10
38,40
1.76
20.00
In the US, the average price of tollen middling, ono-inch, at 14 designated apol markety was 38:02 conta. Balos totalled. #X 12 balch United Pre
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