1956-09-25 — Page 9

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THE CHINA MAIL,

TUESDAY, SEPTEMBER 25, 1956.

Page

TRADE and

COMMERCE

UK Emergency Budget Denied

SUEZ SITUATION WILL

HAVE SHARP INFLATIONARY EFFECT

From AN ECONOMIC CORRESPONDENT

London, Sept. 24.

Despite steady if unspectacular impovement in Britain's economic position in the first half of the year, rumours began to circulate last week that the Govern- ment were planning to introduce another "emergency budget" this autumn.

HONGKONG WALL STREET UNABLE

STOCK EXCHANGE

TO HOLD GAINS

SECTION

WORLD New York Cotton

RUBBER

MARKETS

New York, Sept. 24.

The No. 1 Res rubber futures contract today closed 83 to 115

Futures End

Steady Note

New York, Sept. 24.

Cotton futures ended today's session on a note

points lower with sales of 48 of steadiness after see-sawing narrowly in active

|contracts,

Closing prices.

Sept.

Dec

The rex contract cloved 95 10 lower with sales of

New York, Sept. 24. Stocks were unable to hold the small gains 100 points made early in today's session in the face of notice- Hong-able neglect.

From Our Correspondent)

Business done on the

kong Suck Exchangs this morn ing amounted to approximately $800,000. Noon quotations anki The morning's transactions:

Buyers Sellers.

dealings.

Simil post-opruing proved enough to nudge marby months to new seasonal highs. Afterward hedge stling and raising curbed fresh rallies. Trade Interesis were the best buyers on small dips below th previous clore,

market opened points to

31.201

33,08

34.92

NEW ORLEANS

Price of tutures chered today

Apol

October December Munwh May

110 contract.

Sept.

30.13

Dctober

March

お

Nov.

11.05

Jan.

30 7A

Nales

They olcsod generally with

anong fenders running to a 2.

lower, Getty Ou

Mar

31;:

hddon Ca.

310

Aloy

20 an

inwer

soute Goodrich (D, F Co.

July

29 to

Final prieta rulert i pobyt e

poinļa higher The uples IT 3

the w

point or

Goodyear Tir

1314

Bapt

ZA 80

New Orleans elesed off

Sport

Heyden Chemical

1492

10. 1039

X 1070

Tumover feli lo shares, 370,000 behind and ightest rince Sept, 7.

140,000

Friday

intl Harvester

and Steel Co.

Homatake Mining Co. Isignwall-Rand

The standard

to 110

contract closed with points tower

pis

October

Evening-up

Operations

70%

ties of 13 contracts,

October

May

312

July

International Nickel

103 by

October

SUOTING

fik

spcculatin f. I

without d Tasure the

Lak

bol Ila $118 Gay hurg 1 it at Whether to

4d12

a luote

ht Tan gabi an

He says it will stay it will say if he can halt wegne bay my top hun Fial

PANDOR

mean at Mr The Govern

Wheel

DIG

DOCKS, ETC

2 waart

122

PHOCA Prov

1000 41

LAND, EN ilk Land

(0) 13 90 14 16

14 15 50 100 13.50

1000 ba'

450

gett Meyer Tob Co

International Paper 1941 Tol & Tel Juhr-Manville Co. Kim C. Power & LANTE Kemecati Copper

1167

Ver

Decembe

inove!

MINT

Meh

0172

May

107

July

134

Sept

terminal

The Treasury's fim deiala E thear

Abares

MK Bank

sakavaat Cha

Lodward

ادرية

301%

34: 1%

20.40

2020

26.70

Ixzxbཐཱ*y Marel

22.05

33,90

53,00

31.95

33.60

37.89

33.00

13.1

A In traciltig | penture. · Today was Best noties but no tendera appeared.

Leading spm interests

10,000 upwards

DIS Oetobar In to the ring, supply-

a demand from source, which sold the March-May de- Intra-valor switch operationsverias, supposedly 20% made up mest of the activity on hedge positions

to transfer forward. where market

October covering was further. prices worked lower in corony led with news of another drop

LIVERPOOL

Future closings, in pence për

fl. were as follows:

Is An Am budget there van

bly the seriousness of the situation tha! les medially abend

TAR BY N Eastho etavern is the Surz Canal CrISIN, pubiculalay the Turgot that the short route to am! trin Bidete's Important kets

of supply in the Far East and Australin

crestating

The

i et

Rice expensive huul wound Le Cape of Golf 170

Idle To Pretend

It would be elle la pretend that this wasted on be a sevent

Bestatt GCOM RTC setback !་

But a good deal of thinking u bren done about 15 STIC Colonel Nusser stire The Camut and the consequences of elaar would not be as disastrou was first assumed What cann. ! be denied thoug

THAN ।।

must play bir beading a dla

a mint against the work- woon.pp that the trade and Ale bel me that

Inkeri

Ta de.

פור

Jevves mess

unfreeway spending

berate alter erente manj, nymont raf

cool w-ge migrat

dernte Ut has ever tex. Tar ught of labra 1 FIND

:1 '

- י י 137 *

Humphrey.

taa ty

RUBBER Arus

1130 240 24 11 IN

ま

Many

The market has been able t manage only two gains In

on the werk both Friday session with the feeling prevalent #ut the trend re- flects a lack of demand rather than any selling urgency. Barring

ny mens influcece, Catalysis Meaalt Iron Corp unijeipate similar activity unt!! | Minnesota Mining after the elections.

2.03 in their average, Falls 1.70 and utilities 0.31. Of a total

10047 22.2011.140 issues traded today. it

weten bewor, 270 higher.

2000 23.10

1473

1000

135

LITIES

Trans Sta Fert

Youmati Lage

2300 23 10

4000 -

22.00

IZA

110

Electric Mano E

311 tur

ake from da

1024

“ን

500 v 25

104 23

anned CLLY, THEY

INI 23 (0) 24 20

120 - 24

In his reply the TLX Macmillan and the re

Wir Walled JAGUTUANTE PAY

alice that this weid

Mi Chels

Cement

500 m

$300 a 371,

Fully

STCHES

ETC

volve

Lam

20+)

COPTONS

Tants

423

720

4453

Nanyang

MISÜVLLANEOUS

V tru

INVESTMENTS

Alld

не что

300 10 20 300 30

3000 » 13 De

500 A 1300

1000 14

Exchange Rates

Dreisbøed Aircraft 1,00 Inexp. tone Star Criment Co Louville & Nashville R.

Lowenstein Be Sure

National Steel Coup

New York Centyal Olin Mathieson

contract

Oct/Nov.

The

Dec/Jan.

Star/Apr

214

May, Julle

400

with the Lion market.

972

In the

certificated slock lo a

July/Aug

Tamiustital share today

full

Milton Developinent. Monsanto Cheniteul Cu Montgomery Ward

Motorola inc.

100%

National Casti Reg

+0%

National Dairy Prost National Le

301

101

said,

were

Ous Elevators Owen-linols. Glees

301

074

Pavilię Öna & Eke

Pan American Airwat

anee here.

Paramount Pictures

301

Parke Davis Ca

| Penny JC. C

Feno Salt Co

دالت

Philip Morris

434,

Procter & Gamble Cu

Pittsburgh Pinte Glas

014

Publicker Industries

424.

SINGAPORE

The market sugged because of Equidation at the opening

and

this trend conllmued until noon. 330) | Prices steudied afterwards until 60 the close as trade demand deve- 720post.

There was good demand for tuwer grides Futures:

The cendnued kit in domestic w low. Colton available for with delivery toalled 3,251 b, oft fuctory buying Interest,

271 baler from

the previous connumer still operating von un

Not

lalver Up "as needed" basis disaged.ing. new market interest. ruchs contracts foley totalled 124,800

bates.

Expreted impart of the soil bank Shipment offerings

next nu programme year's prodiretion, plus expand- noderate to fule supply but that

and the continued priens too high for buyer accepting exports

horvy Spot No. 1 Ras wis

rate of producer loan offered at 32' cents a pound. unpoundings from the current

the crop remained

dominant market factors.

NEW YORK Piers of futures closed today as Howst

Now contruct

Oct/Nov

Des/Jon Mar/Ap May/June

July/Aug.

Exypilan Karriak

Nov/Dec.

34.20

24.00

20.50

225.10

28,06

29,00

10.30

SAO PAULO

Future closings, in cruzeiros

per kilo were October December

As follow!

34.00 37.00

March Mes

39.20

The average spot price was Pat available today. Sales at 13 US markets totalled 84.870 balm. -- United Press.

Gulf Improve

AIYOTKE

rail.

losses

ound a polit in Bultmore & Vince

Among

jetle

Youngstown

Sheet & Tube was the heaviest lover. falling 2 points

In oils Continental lost nearly

2, Royal Dutch a point and Shell 1. Gulf, however, im- proved fractionally as directors ordered a larger stock dividend than last year addition to the usual cash payment

New York Stock Exchange bond volume was $3,580,000.

American Stock Exchange thune in the incat volung was 710,000 shares

Dow-Jono

SAN

Markel thens CAUTATIE imeyttedal at the followinst vates

SLE Sterling noter (ver 2) Aardenburg notes open A indem man upah sper 1031 Stief (per 100; Singapore

#15

WOTO:

12.02

18.30

30 industrimin

27 20

20 Talle

15 unlifies

stucks

losing

Pure Oil

Itadio Corporation Republie Steel Reynolds Metal Shall Of Co

Saint Teg. Paper Sinclair Of

Soenny Mobil South Puerta en Suger Southern National Gas Bouthern Raliway Standarų Umance Standard Oil of Cut Standard Oil of Ind. Standard Où of NJ Sleep Rock

control of labo"

Appeal To Reason

One cannot top teni 1 Mi walt Rel nowhere

wikd be a costly affair and ds Macmilla the result would be etlut..mary ! WHE

a the very time that

the

A ut argument, Brition Even his append to reason

en act afford any more indat grounds that wages have stayed

Be Goveit Meanwhile

are awaiting event.

whether

1.1

Eber

well ahead of pisces will win

Labe

CANTI

before des Now

nvivement any mestres, budgetary otherwise, needed to deal with this situa- ten. In the extreme pris.bility of the use of neined fivet some recasting of

budgetary policy would cratonly be needed But the far salderk

und tasuing militan y recent preenu'ns

considered

likely to put the budgetary calculations to the extent that it would retine a completely ne exerrae this autumn

Wage Crisis

the current to the serv, d of

Bil- Patges for emrers about tal's veomande pe sit.on--f1aint- ly the mountag wage crisis-- the Government are similarly un- able to falce précise mensures

until a clearer picture emerges of the extent and the nature of the difficulties that will have tr be faced.

the

What is needed. clear proof tart everyone, government, management and labour are in the fight together, all struggling Phe same thing-an end

1.1

out in L netExpres San ·

London Stocks

Virtually Unchanged

Singapore Stock Market|

Singapore, Sept. 25

Brokers today quoted the fod

I wing stock privest

London, Sept. 24. Stocks held virtually un- changed

& Neuve Lid 11 for except

pret advance by oil Hongkong & Shanghai Bank-

ing Corp

In some ways this is an even | spotty more serious threat than

theaharas in quiet dealings Hongkong Tin Lio

Exchange Kempas Ltd.

The the

London

the today.

Suez affair If only becDUSE has involved the end of valued Trudition - that

Union Trades

Congress

matters it all operates nationul importance with the government of the day

re-

The background to the wages situation is so well known that that i needa only brief capitulation. Incumes in Britain of which wages form by for the biggest allee have been ris- ing over

past few years much more rapidly than output

The

13 Ma

Traders cautious following

generaily Peteling T Lad.

Raßen Hotel the transfer

Singapore Cold Storage of the Suez Catial problem tu | South British Insura the United Nallone,

40 bunds

Comm. future prive intes

Cunny

pot rublier unbeled

4640-9160

P.OBIE.A

COMPANIES

491

DOM

2:1

Com. I

No i rubber per iti. Oct. BD%-80% Nov. 89% -4074 Dee, unquoted

No. 2 nubber per lb Oct. 16-391;

Nu. 5

4813

No. 4

8344-857%

50%

542%

Blanket crepe

72-74

No 1

pole crepe

118.320

Sterfion Drug Co

A3'

Stokely-Van Camp,

LONDON

Studebaker-Packard Corp.

Swifi & C

averages

Texas Co.

B014

The market

Tire Water Awwa.' Dit

Twenty Century Fox Film Union Carbide

2415 per lb. Prices

11415

No. 1. Ræ apot

211-273

7031

Bettioment noume terni

Octuber

27-279%

November

27-271

20*5

December

ATIL

Oct/Dec.

209-201 27-27

DELWATOI

Jan/Mar

2011-2014

"CARTHAGE”

6614 | Apr/June

2341-2071

"CHUSAN”

442

September

2014-20

October

4331

November

2014-2014 20-201

United Press.

Estate Prepe Cel

61.09

487,10 | Unlum -Pacific Railway 157.33 | United Aircraft

1.8. Full "D",

172.11 | 11.8. Gypsum

US Line Co

1.8 Rubber

UA. Smelting

18. Steel

Warner Bros.

Westinghouse Electric

Werl Vn. Pulp & Paper

Woolworth

02 11

160.97

apol plier indux, Moody's index.

104.29

475 70

Closing Prices

Alden ind May Allied Chemicals Allied Male Inc.

Ain. Sugar Ref. American Tol. & Tel.

Amerkan Tob. "B"

Anaconda Copper

100

SELA quiet with spot quoted at 27-5/10 perce

202/ Donemi markets, vit basis, parta:

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

"CANTON"

Leaves Lozden Que Rangkong

2011 September

10th October

Via Southampton, Colombo, Pesant a florapore.

Leaver Hongkong

"CARTHAGE" 29th October

New York Sugar

Market

New York, Sept. 24.

futures World No. 4 Aupar closed today unchanged to three! point higher with sales of Øve contracts.

No.

demostle The

0 stigar futures closed unchanged to one point higher with sales of 50 contracts,

Fetale (reur thick

AMSTERDAM

The market was quiet. Prices elosed today in guilders per kilogram. elf October as follows;

No. 1 rubber

rubber No, rubber No. 1 crepe

2.67 IngerA

254 buyers 260 buyers 3.40 buyers

United Press.

London Foreign Exchange

London, Sept. 24.

Closing roles were: markala

news

both Traders in

New York marked time pending

Montreal from the raw market and de- Amsterdam

the velopments In

threatened Brumela..

All Chaliners

Aunarican Airline

220.

American Cable & Hadi Corp

American Cynnamide Cu

Open E

Amer. & Foreign. Power

14%

Betplanung Rubber Co Ltd British

Petroleurn Home

$ da

Am. Mach. & dry

331

American Metal

Syndicato Consolidated Tin

30/043

American Smolling

511

Staplers

014

Ord

27/ki

171

Framt

Freser & Neave Ld. Ord,

$2.07.

1996

CUTE

$5.00

Arnico Steel

0412

Annour

$003

Atlas Com Mining

0/kl

Endwin-Lima-Hani

139

81.83

Baltimore & Ohi

Lunas Rubber Estates Ltd. Malayna Brewerks New Serandah Hubber Co, Ltd.

1) BA

Dndix Aviation Corp.

$3,00

Henguet Cons.

8) 70

Bethlehem Steet

16316

$327

Beeing Airplase

AZE

$2.45

Borden (The) Co.

B01

$141

Barough Adf Machine

Canedilen Puritic H.

$33 10

Caso 13. L. Co.

323 73

Cat. Trector,

$14,50

Ceinness Corp.

$1.35

C. I. T. Financial Corp.

$3.00

Chrysler Motors

1410

Cundly,China Mall Specia).

Climax Molybdenum

Contract No. 4 (world)

Orio

Colgate-Palmolive Co.

fanie

54%

Commercial Credit

410

Gel.

3.20m

Stockholm

LunUnwealth Mee.

4GAL

Mar.

3.54

Consolidated Edison

452%

May

3.37

Continental Oil of Del.

113

July

3.59

Press

Crane Co...

3315

Sept.

3,37

Crown Zellerbach

8414

Spot-(cents per

fol

Cuban Amer. Sugar

Cuba)

Contract No. G

1001%

Nov.

£30

Mar.

0.42

201

May

4,42

231

July

4.12

Sept.

5.53

0812

Nov.

5.55

Spot-tcents per ib. cit NY

ex-duty)

3.52

United Press.

Canada Argentina Other Prem

were

Lid.

Straits Trading

Advances in on shares Fan Strails Stevmahip

United Engineers Ora, stund wo shiftings in Burmah, Warne Bros. beltuk Perroleum, and Anglo- Egyption "B". Royal Dulch closed unchanged.

result that Briúsh INDUSTRIALS SLOW

NEW YORK SILK FUTURES

Diamond Alkali

Dow Cheers) colo

un-Dupont de Nemoure

New York, Sept. 24. Silk futures today closed changed with no sales reported.

Closing prices were:

with the prices and costa have risen

industrials faster than those of

moved narrowly, i her chief

changes held to a few) competitors. Unless this silun with

either way. Shipping tion

corrected there is a real police danger that Britain will, in the shares found support at times, well worn phrase, "price herself and Hawker Siddeley was a

spot in the aircrafts.

Oct. out of the world markets."

Nov. As the Government

British

Dee. Governments turned what chiefly ncoded

Jan Cosicr after a firm stari, but realisation

Mar. decline

in at the close were

May mali Irations. "Daltons" went the other way, adding £% on the day.

frade

is the on the part of the that union movement further general wage increaKen oro

unjustified not only

but would be highly dangerous, Hence its much publicised appeal for "Wage restraint."

Antagonised

Many people outside

Losses of about £1 enme in Japanese bonds bill German Ibons were

steady in

forage band section.

Gold the

Government felt that this ap- posted

and

copper

a quiet

smoll advances

peal would be useless but no selective. buying-United Press,

one anticipated would do

actual harm. Yet this is just

what it has done for it

entagonised trade

bers

union mam-

that the TUC rejected the

appeal overwhelmingly,

Mr Harold Macmillan, Chan-

CHICAGO LARD

FUTURES

Chicago, Sept. 24.

cellor of the Exchequer, claimed Prices of lard futures closed Inst week that it was not

serious disagreement

so much October

today is eents nor lb. as follows; 11.05-00 11.73.

‚as a good deal of misunderstand. | November ing that weparated the TỨC from December

cho Government,

January

this

mis-

March

Just how

understand deep

judged from a a speech Mr Frank

Cameral

Colisins, General Secretary of the Transport Workere

13.

United Press.

NAMESAKES

at, the. Referring to Mr Macmillan's 3 Royals Calog, "recent -- forecasts", that Elvitalis | Englandi, . 7. Tomé91, geosid look forward to, a spall 9 Hunting, 10 Forde,

of sable prices. Mr Cousins wald 12 Shot-

The Chancellor of the William Rutus.

Anawcra! 1 Woods, 2 Fighting,

4.23h

4,200

4221

לוב4

4.20

4.10b

United Press.

A hundred

Fastman Kodak

El Paso National Ga

Eric Ratiroad

Family Finance Corp.

Ford Motor

General Electric

General Foods General Motors den. Pub. Ull.

years

Copenhagen

1 dock workers strike, Futures: Frankfurt

service

Zurich..

2.70 0/16-2.79 7/10 2.72-2,723

10.03-10.0314

139.4235-130,4711⁄2 10.341-19.34

11.71-11.7 1746-1707

10.30-19.00

08314-00315 14.43-14.432; 12.23%-13.21

Others were unchanged-United

New York Foreign

Exchange

Closing rates were;

Now York. Sept. 24.

1,02 11/32 .0352 unchanged.Ünited

850 956

1856

PASSENGER

AND FREIGHT SERVICES ON WORLD TRADE ROUTES

B-I BRITISH INDIA

Steam Navigation Co.Ltd.

Agents:

KENZIE & CO OF HONG KONG LTD

PO Box 113 Tel, 27721-4

Потенци

“CHUSAN"

"CANTON"

Balled

5th October

3rd November

12th November

Que London

7th November

18th November

TO BE ANNOUNCET) LATER

VIR Singapore, Penang & Colombe.

FREIGHT SERVICE

"SINGAPORE”duo 1st Oel

"BOMALI" dyn 20th Ont.

from UK.

from U.K.

"SINGAPORE"loads 23rd Oct. for Singapore, P. Awet-

"SULAT" die 10th Nov

tenham, Havre, London, Hamburg. Rotterdam, Antwerp 弘 Grange- moth

from UC.

ALL VESSELS OUTWARDS AND HOMEWARDS HAVE LIBERTY To PROCEED VIA AUFZ CANAL, CAPE of QOOD HOPE OR PANAMA CANAL AT OWNERS OPTION.

BRITISH INDIA S.N. CO., LTD.

1830 — A HUNDRED YEARя of SERVICE --- 1956

from Calcutta "BANGOLA” day 30th Sept.

Balls Int Oct. 10. Зарад

*INCHSTAFFA"due 8th Oct.,

alle

ath Oakfor Singapore. Penang,

Rangoon & Calouste

"WARORA” doe Bib Oct. ni 10th Oct.

for Singapore Pen Rangoon, Chittagong Calcutt

P. & 0./B. I. JOINT SERVICE "URLANA”

"ITAURA"

dus 29th Sept. tist Oct.

due

4th Oct. Atla 4th Oct.

"ITOLA"

dos lá Oct. kalla 2017. Oct.

from Japan

for Bingapore, Bombay, Esharinagar,

Karach Esara, Khorramatistır de Kuwalt

from Japón for Bingapore, Coolsins. Karachi, Basrali, Khor" romuhabir de Kuvrait - ji from Karnehl Cochin for Japan

EASTERN & AUSTRALIAN. S,S,.CO., LTD. "ARAFURA” lotda sih Oct.

salle 9th Oct.

"NELLORE" due. 11th Oct..

far... Bendakan Rabad, Belibang, Bydney, Mili bourne'& Adelaide

from Australia.

Ali veisels, have liberty, to call' at. any; porta on or off the squie & the route à sailing sro"stíbject to change or amendment) with or without motion

For full particulars apply to: MACKINNON, MACKENZIE & GA OF HONG KONG LIH. Telephone Hot: 277914.

1956-09-25 — Page 9

Comments

Private Research Note