1956-09-20 — Page 9

WORLD COTTON

MARKETS

New York, Sept. 19.

Cotton futures today see-sawed narrowly in quiet dealings but showed An overtone steadiness most of the time,

up

Closing prices ruled 2 off to

3 points. The market open- cd of 2 to

New up points.

Orleans closed up 0 points.

Buffelent support from trade Intereals developed to absorb an Increased volume of hedge selling, refeeling the rapid ex- harvesting opera- ension flous, plus October liquidation belure the first notice day Monday,

of

TRADE

THE CHINA MAIL, THURSDAY, SEPTEMBER 20, 1956.

and

SECTION

Page

Wall Street Stocks

New Search For Oil In HONGKONG|Wall

New Zealand

London Stocks

Show Little Improvement

London, Sept. 19.

EARLY RESULTS SAID TO BE VERY

FAVOURABLE

Wellington, Sept. 19.

Over £1,500,000 is being spent by two groups of oil companies in a search for oil in commercial quantities' in New Zealand.

WORLD

RUBBER

MARKETS

New York, Sept. 19. The No. 1 Rss rubber future closed today 83 to 15 points lower with sales of 11 contracts.

Closing prices:

4:pt.

Des

31.30 32.10

The rex contract closed 30 to

75 points lower with sales of

contracts.

STOCK EXCHANGE

ifrom Der Correspondent)

Business dtoe en the Hony. Kong Stock Exchangs this muri- ig amounted to spproximately $236,000. Noon, quotations and

the morning's trañmetions:

Shares Buyers Sellers

BANKS BK Bank

INSURANCES

1024

1003 1025

Sajas

Continue Downward Path

New York, Sept. 19.

Stocks took a bubbling again today-again without any 'specific thing on which to pin the blame.

Today's decline progressed. L. T. Financial Corp. steadily from n arm opening, Chrysler Motor......

Chase, Manthat, Bork

to 4 1030 accelerating In thn late after- | Cilmax Molybdenum

noon. It was somewhat milder Colgate-Palmolive Co.

Commercial Credit then yesterday's loss, wiping out Commonwealth Elec. about $1.5 billion in total mar. Censclidated Edison ke values,

Continental Oil of Dei, Crane Cost

Union

SHIPPING Waterboal

(0) Waterboat

INI

2370

Wheelock

0,00

$

Sept.

33,10

Nuv

32.30

DOCKS, ETC

Mar

31,40

K. Whart

ODIL

May

30.70

Dock

Julb

90.40

Provident

18

Sept

20.00

(0)

13.70 13.50

00013,BE

75 points lower with sales of 22 contracts,

Stundard contract closed 30 to

LAND, ETC

HK Hotel

10 20 15

IX Land

XD

GO 10

Humphrey,

20

31300

31.00

RUBBER

Amal

30.00

Truri

1.625 1.00

30.36

29.70

UTILITIES

Trikoi

21.30

of

Yaunat!

100 110

2. Light (0) 2415

There was little or no improvement in business Because if the small certäent.d at the opening of the new markets

The head of the Beld research The British Petroleum Com- "x-account in stock 6ck--3,540 Male - ders

team In this new venture parted few, if any, indiibi in

general patty of New Zealand has Joined unsatizures with another New Zealand, English-born De H.W. Wellman,

De Company to carly vul a search a former member of the

In- wver the east coast Including partment of Scientific and

Geological Ifshore extending to 12,000 dustrial Research

by He will be joined square miles. They are spending | Survey

from Slely an initial £500,000

two od geulogįsis

act and Canada

derm.

Technicians supposed some esf The Frade buying may have bera for milt eemure to fortify invn- low of the key pit ons unikually anali stocks of rew

in commuming The cau et Augus. tracts m Oetoba dodav 108,100 kuže

cotton reported places

Open

Month

Octobe

December

Mares

BLA

fly

October

December

March

Total

Jiieii {ts3ngt་

jon, tou

Voh me

7,400

1,500

6333,4410

208.700

0.006

238.34M)

7,000

23 204

4,100 3,300

54 B00

40 ADD

100

1,400

49,700

1.011 7 ble a

NEW YORK

Prices Futures closed today

as follows

Spat

CH'T

Des

Mar

May

July

Ori

Dre

Mar

NEW ORLEANS

344

15377-70

Prices of futures closed today

BRABBAMAS

$782228

J

today, but the

Was

not

d

tone factory.

GL

see

he-li closed day, and atvndly slightly dimer where changed. Consolt 21% per cent cure 1 8th to 51% sterling, and Way Loan 3 per cent 1.16th hahri 70% sterling.

1.11

MJESTO

An

unother At The

Fame joint company explation which erufl al

o! expenditure £1,000,000 25 Taking place the west cost of tria island.

FAILED IN PAST

O cơc | 12 ivaner, wil Plused with guins up to 2 shi- lng British Petroleum rgwe Bl

143 4-1/3d and Bumi shillings 1 pende highei

2

Several searches in the

past

at have falled to uncover deposits.

BRs 10d. Royal Dutch jumped in sufficient quantitres to make

1 points to 84% sterling.

Industrials

thea regvery D VVanmerema) Ino- ! position. # Have mixed display. Imperial Chemi-1

However, surface Indications to 43% d cols rore 6 pence

ot the presence at

the fell is 34 to 46s fd, Downter

part of seepages and gas flows: ofter going ex-dividend

New Zenurut Foreigners

and are in parts of อาย! " WOTT

Matthmagh fles e uld he must nominally unchanged

Sucz Canst sharer fell one leading putat to 51 sterling -United | ¡'ress

New York Sugar Market

New York, Sept. 19. World No 4 sugar futures

to 2, else{ttac]zy unchanged polute lower with sales of 14 CORVÈracts.

Domesite No. 6 sugne futures closed unchanged to 2 points Rowe with sales of 59 contravis

Worki vuntruet activity locked

L

follt wa

Squal

Dec

Mar

MAN

July

Out

Dec

Mar

LIVERPOOL

Future closings,

in poner proj

Ե

!

24 UP

24 78-79

24 10

24.30

23 17

222 11

334 330

2477

2477

24 27

Sole Cuban Stal-frente pe

Contract No. 6

22

ss00

New emptract

were as follows:

Old contraef Oct/Nov

Dec Jan Mar/Apr May/June July/Aug Det /Nov Dec Jan.

Mar Apr

May/June

July/Aug

Expuan Karonk. Det /Dec

NAO PAULO

Future closings. In cruzeiros.

per kilo were as follows

Det

DN

Mai

May

July

In the

Reports by the New Zealand Geological Survey Department

have been favourable

اب میشه

Dec

a paleontologist

Mar

from Papua. The four will form which the nucleus of a tenm will be enturged as work proe ceeds

Two during the next years.-Chim Mall Special.

atay

July

Hepl

East Africa Freights Watched

Intra-dealer

33.30

switching March standards for March 10x contracts made most of the ter minal market activity. New out- de market interest was held in abeyance pending Suez develop- ments or some other new incen- Úver,

Anticipating the metal con- sumption

in a day or report two, tinde estimates pointed to an August disappearstice of be- Tween 115,000 to 117,000 compares with 93,000 tons ured in July.

T

The toes in valuce no far this crown week ruta close

to $3 billion | Cuban Antser. Sugar

Diamond Alkail

Dow Chemicals

and for the phat ten sessions is tioned $7 billion. There has Dupont de Nemours

usen andy one advance In this porlod a billion dollar gain last Friday.

Two

Eastman Kodak

El Paso National Ga Erte Railroad

Family Finance Corp.

Ford Motor

red Electric

Genom Foods

General Motors

Market analysis can pinpoint specific faciers behind the decline.

They see the Suez un certainties and election

iderations responsible for much olden Co.

COT-

Gen. Puh. Utu. Getky Os

market hesitarey. They note Goodrich 15. F.) Co

1.43 130 5000 1.475 there is simply a lack of demand Goodyear Tire

and a similar lack of traders Heyden Chemical willing to sell, shoop” price swings one volume

C. Laghi (Ny 21 10 23.00 Biectele

31% 31

Масао Е.

(01.

$300 on 2419 1848

making

some tomake Mining Co. Ingersoll-Rand modest and Steel Co.

Turnover today totalled 312,040,000 shares compared with

2,200,000 yesterday.

24.70 24.90 100 24.70

23.70 23.00 200 23.00

Telephone

Telephone

(N

INDUSTRIALS Cement Rupe

30.75 37 12.70 13 20

500 6 47

STORES, ETC. Wolsmi

1270

Lane Crow

20.60

tons

Sinceres

200 m

COTTONK

Textile

Corp

4.33

4.50

EC-

MISCELLANEOUS

Vibru

Ailled

London, Sept. 19.

Factory buying Interest The East Africa Freight

mained sluck and limited lo needs. Spol Rates Conference is keep-immediate All-in

INVESTMENTS AD No. 1 fuss was quoted nomiu- ing the question of

freight rates ally 33 cents a pound. increase in

Shipment offerings were to under day

day con- moderate

and too high for

*Som it East.sideration,

was stated domestic buyer interest.

November three today.

reported dono at 31 cents, de- liveries boss,

*On a geologica) basis we do not expel New Zealand to be-

another Middle CNCHITEC Geological conditions just do

'exist," said M. LG. Hucks, Mar

Bul

Only 211 Higher

Of a total 1,145 issues appear.

ing on the tape, 690 were lower, only 211 higher.

Some of the sharpest declines

In were

non-ferrous

metals,

1.73 ringing to nearly 4 points in

aluminium,

sheels were CHICAGO GRAIN

SINGAPORE

Zealand managing directe

Some cargo and passenger Petroleum

the liners on East African scrvices British

are being re-routed around the discovery of oil in New Zealand will undoubtedly be

very Cape to avoid passage through

The market

opened steadier the Suez Canal, but so far there great importance to the economy

has been no change in freight but leased off toward noon of the country us well us frent

because of some trade selling. charges a strategic point of view "

To date four ships have been Future closings were: New Zealand is now impair!- · re-routed. The 8,000-ton Har-No. 1 rubber per 1b. Oct.

Dhe- ing all the oil the country ses

rison Line cargo vessel 1,500,000 tons of petroleum fender which left Britain last No. a rubber per Ib. Oct.

Friday is going round the Capo No

a deflate feature. Trade in terests were on both skies of theproditets lust your domestie dellveries

Contract No. 4 (world}

W

220

Blanket crepe

1 pale crepe

Dev.

1214-03 Nov 021-925

unquoted

0914-00' 00-871

0214-02% 75-17 120-122

MARKET

Chicago, Sept, 19. Prices in grain futures were irregular on the Board of Trade today, the last day of trading in September deliveries.

Interchemical Corp.

In Buress Machines Int'l Harvester.... International Nickel international Paper Lirt'l Tei da Tel. John-Menville Co, Katmas C. Power & Light Kennecott Copper Lisgell Meyers Toh, Co. | Lockheed Aircraft

Loews_Incor

Lone Star Cement Co. Louisville & Nostiville R Lawenstein & Bons. Messbi fron Corp. Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Iho, National Cash Reg. "A" xa National Dairy Prod. with Allied and Dowdon around National Lead 3 each.

Boeing, Bendix, Douglas and on Mathieson General Dynamics fell around a or Elevators point in aircraits,

Steels had losses running closu 12 points in US Sicel,

Chemicals were hard hit again

Oll losees ranged around 2

points in Cities Service and

Quit

Steel, Royal Dutch. Chrysler, General Motors and Standard Oil (NJ) headed the list of active issues.

New York Stock Exchange bond volume was $3,530,000.

American Stock Exchange volume was 700,000 hores,

Dow-Jones closing

Liquidation of September coin! | were: and soybeans contracts brought sharp drops in these commodi-duals

the lies toward the close of ression.

Rye, however, traded at new today on short

In torms of erute on world Dar Es Salam, Zanzibar and No. 4 consumption last year amounted Mombasa. The Clan Line and Spot rubber unboled

800,000,000 tons. World con- Ellerman Line, both have ship No

the next month in Newving 333 sumption is increasing annually leavi

LONDON 33by 10 per cent.

service with under their joint Harrisons, but no decision has

Feason highs was dull been taken about these yet.

The 17,000-ton Union Castic easier with spot down 1⁄2 penny covering. parsenger-corgo liner Braemar to 28% pence.

has been re-routed from! No. 1 Ras put.. Castle to Britain round the

Mr Hucks said that proven reserves at the end of 1855 amounted to 20,000,000,000 1073 and if consumption held at inst¦| 42 year's figures this wouki fast for

only 32 years.

Spot-Leents par

ex-lutyn

e NY

United Pre

5 35

30 00

40 20

3000

0 20

US the average spot |

price was 33.05 cents Sule

totaled $4,304 bales.

KARACHI

MOST IMPORTANT

About 7,000,000,000 tons were Western Hemi- located in the

time The and sphere

fonts 1

London Foreign 1.000.000.000

Exchange

London, Sept. 19.

Closing rates were: New York Montreal

The market was a bit irregular | Amsterdkon

Prices today.

closed in rupees Copenhagen

per maund as follows:

47 Bind

200F Sind

Humein

Milun

Paris

roller gin

T1/11 | Stockholm

roller gin

Baw gin

70/3 *!!

Zurich

812/3

259F Punjab roller zh

aw gin

2 70 5/10-2.78.7/10 272-2.72

10 12-1952) «

139,273.32+

19 344-19,34',

11.00-11.70%

1741-37415, 14.03-242182

12.10.-12.19

Others were unchanged,

New York exchange vie

Eastern Hemisphere 17,000,000 tons Middle East.

.1 WHEN

"

1

Ci

pe

The market

Prices;

Settlement House term:

Oct.

Nov

Dec. Ocl/Dec

1015

and

Wheat held throughout mosi of

stendy The session al a 26-25 position on trader belief that the 231-281 774-2713 next crop would be reduced by 28-28 the soll bank, along with re- 2014-2011

existing ports of the

drought condition over most of the win ter wheat belt.

Juty Sept. General markets, elf brusts, porta: 20161 Bept Orl

20-1-2731

L-27 Nov lar- Estate even ihin Det.

British India Steamship Com- pany's Juxury 14,000-io Jun-Mar senger liner Kenya is now en Apr/Suns

for East African porta route round the Cape and it is under- tie (stood that one of the reasons for which changing its route wway from

Mar- SUZ

Is that Princess the the

scheduled 10 have garet

aboard on October 10 that dinner throughout during her East African tour.

The Kenya's "win" ship, the the world should be carried on

14,000-ton Úgands was re-routed must urgently and it was that reason that the major all from Mombasa round the Cape Just Saturday, it was announced every companies of the world

here today.China Mail Special. substantial year were devoting proportions of their profits and reserves to exploration, said Mr Hucks,

It was most important the search for onl

80/3 were unavulimbic.-United Press, the past the known reserves

United Press.

US Doubling Use

Of

Aluminium

Houston, Sept. 19.

$set

If they had not done this in

have

the world already would been exhaunted.

"I would say that we believe

Insurance On Sailing Day

New York, Sept. 18. American underwriters of war

that an intensified search for oil risk cargo insurance announced in New Zealand Justified be- that shippers now will have to cause of the importance of dis- pay rates in effect on the date of covering fresh sources of oil,"

sailing. he added.

As the

Previously shippers could get

AMSTERDAM

The market was quiet. Prices closed today in guilders per kilogram, cif Oct. ds follows: No. 1 rubber No. rubber

No rubber

50. 1 стеро

Wheat closed off to upy echi; soybeans off % to 3% cents,

Prices per burhel in center

Wheat, No. 2, red

Spot

23 rolla

In ultiem

05 stock# 40 body

Comm, future price index Coman, spot price index Moody's index

National Steel Corp. New York Central

Owen-Illinola Casa Pacific Gas & Elec. Pan American Aleware

Paramount Pictures

Parka Davis Co. Penny J. C, Co.

Penn. Balt Cr.

Philip Morri Procter & Gamble Co.

tuburgh Plato Glass

Publicker Industrien Pure Oil

Radio Corporation Republie Steel Reynolds Metal Bhell Of Co. Saint Reg. Paper

averages | Sinclair Oil....

Closing Prices

Alden Inc. Acy.

Allied Chemicals Allis Chalmers Amerionn Airtime American Cable & Radio Corp. Amer, & Forg, Power Am, Manh Phong, Auseritan Mete Amberton Suelting American Tel & Tel American Tob. "" Anaconda Copper Armco Steel

Americă Cyarımļde Co.

Closing prices | Armour

2273.

Atlas Con Mining

Baldwin-Lima-Ham.

Daltimore & Ohio Dendix Aviation Corp. Benguet Cona.

Betlehem Bteel

Boeing Airpimme

Borden (The Co.

156-158nurroughs Add Machine

Sept. 2283) 20W

Дес

225-3411

2014 230

Mar

281 buyers 2.38 2,50

Play

July

Carn, No. 2, yellow

8.49 nom.

Spot

United Press.

Sept.

1801-15

Dec.

141-fi

Mar.

May

143 14714

July

Bro

Sept.

Dec.

162 1845-

Osta

Sept.

Singapore Stock Market

Dec.

Soybeans, No. 2, yellow

Canadian Pacific A.

Caso (J. 1,) Co.

Cat. Tractor

Celanese Corp.

*A

Singapore, Sept. 20. Brokers today quoted tho following stock prices:

Spot

Bept.

Nov.

Jan,

MAT.

May

Opening Barley

01.09

50/- 21/03

Spot

New York flour

200 tb, sack

*****United Press.

Ord.

........

In North Island there are now | so-called forward binder fixing two major oli groups employing rate se

seven days in advance of all their knowledge and focilities sailing.

Batu Lintang Rubber Co.. in the search for oil.

There has been no change on tld. deld teams' knowledge of the

Burneo the rate charged by Ameriem | British,

Petroleum Syndicate of the country increases,

however. Those re Reology Kaiser Aluminium and Chemical Company so will the prospects of Bnding

dint insurers,

main at ten cents per $100 to Consolidated Tin Smelters or diminished, has estimated that the United States will double oil be enhanced

$100 on most voyages through Fraser & Neave 15% dan Is starting again, oli seepages

prof. its use of aluminium in the next nine years. The On the east coast, where work plan parts and 3% cents per Frater & Neave Lid Ord, Suez Canal.-China Mail Hong Kong & Shanghai the Thousands of

Banking Corp. `company's expansion plans will help to furnish the are widespread.

of marine sedi- Special. square miles

Roni Hồng Tìm đư. metal when

to

imentary basins of great thick-

Kempa Lid. Lunas. Rubber Vice-President and

Donaldness are contained in the tres,

FOSTER SEARCH

Browne.

it is

needed, according Treasurer, Mr

one war.

US

$1.00*

130-148

$13.3011

Winnipeg, Sept. 18. Prices of grain futures closed today per bushel' ir cents a follows:

$3.00

$555

Osta

states Ltd. 0,85

Oct.

23.02

Dec.

New Serandah Rubber

Ltd.

May

Pateling Tis Ltd.

12.43

Byo

$1.5136

Det.

130

Dec.

NEW YORK METAL Mn Breweries

PRICES

New York, Sept. 19. Prices of metal futures closed

Lead

Sept.

Oct.

Sept.

Out

Sept. Oct.

Copper Sept

Hames Hotel Roman Singapore Cold Storage Beat British Insurance Co.

Ltd.

18.100 Bill Trading. 13.100 Straite ateamship 100.bot Unived Engineer 100.006 | Weume Bros.

13.000 ⚫cundiv. I 13.00h 20.966

During the past decade, le as much aluminium as the

The Minister of Mines, Mr said, consumption of aluminium produced prior to the last world w. Sullivan, on learning of the today in cents per ib. as follows in the US had risen from million tons annually to two

Meanwhile the Kalier Alum-new venture said that the Gov-

had ernment

always been million tone. By 1965, the com- nium and Chemical Company anxious to foster oli exploration Tik

the US to con- has confirmed through its local in New Zealand and had omend- pony expected bute more than four million attorney in Lakeland, Florida, ed legislation to make this Zine toda a yebe,

Over the shorter that it will build a plot plant

ant possible. razgo, midi Me Browne, Kaiser on the phosphate mining pro-

The cost of exploration is pects a abortage of aluminium party Virginia Carolina

of

very high and by no means al- to continue through 1957, with Chemical Company at Nichols,

le determine what minerals or ways successful. Depending o sight surplus in 1958 and shortage, wid-appearing in 1989, chemicals con lp extracted the nature of the geology in

Four Times

profitably

wastes.

volved, the terrain, location and from phosphate depth desired, the cost of drill- ing a well could range between

sub-

United Fremo,

LONDON METAL FUTURES

London, Sept. 10, It was thought here that the £20,000 and £1,000,000,

Prices of metale closed today Ho mid that the company's project might be aimed at res

According to Me Hucks In starling per long ton as ouretit 178 villion dollars ex-povering flourine-coptalning

misconception

AURYNC crop follower ped uplit oil was in dome pansion programme was designed stances.

primary Largo tonnages of fluoride are petition with coal and nuclear po

E-month espacity" from 488,300 tons of jused,

tjes blast furnaces and as onerry wo wothing main souredd Coco spos minium metal to 887,000 Lona posle the reductions of of ner but that was hot by end by: 10681 at the lime, the communiatura from ke ores. All three sources but neod to Lond panor walls-ben jou fout wow, ohm also und in the be fully exploited to meet the med vilmen, au famuchy, metal me it did metallurgy of other metals how requirements ^ In 1950, and pone than four times China Mall Special

future

of

the

-China Mail Special.

NEW YORK COFFEE

*FUTURES

New York, Sept. 19. Babtos "B coffee, fulares fou day aloyod 8 to 15 points lower! |with, asics) of 125 contineti

Fort: 01 cafe,Prices::

Spot Bantos" (49 ́te

Finxsend...

Dub.

May

Bocony Mobil · Oil Bouth Puerto Rico Sugar Southern National Gas 488.72 Bouthern Railway (Com. 156.76 Standard Brands 67.21 Standard Oil of Cal. 106. Standard O of Ind. 02.03 Btandard Oil of NJ. 100 R5 Steep Rock 164.22

Sterling Drug Co. $51.30 Stokely-Van Camp.

11814

110

Studebaker-Packard Corp. Swift & Co.

Texas Co...

Tido Walet Asmi. Ol Twenty Century Fox Füm Union Carbide

Union Pacific Railway United Aircraft 28. Foll "33" BUS. Gypsum

041 1.8. Ling Co.

US. rubber

0319. Emelting

14

28

812

172

Warner Bros.

UB. Steel..

Westinghours Electric

754 Went Va. Pulp & Paper

Woolworth

United Press.

NAMESAKES

Answers: 1 Charon, 2 Frogs, 3 Comice, 4 Styx, 5 Laughter,

#Clouds. 7 Wasps,

8 Athens

6

Elysian, 10 Audience, 11 Greeks; 12 Ulysses.

Aristophanes,

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