1956-10-18 — Page 9

.1

TRADE

THE CHINA MAIL THURSDAY, OCTOBER 18, 1956.

and

COMMERCE

RUSSIAN AND EAST GERMAN

CREDITS FOR WORLD

YUGOSLAVIA

Assistance For New Aluminium Industry ·

Belgrade, Oct. 17.

A commission of experts appointed by the Yugoslav Government is drawing

Wall Street Fails

COTTON To Find Stimulant

MARKETS

New York, Oct. 17. Cotton futures steadied today after a steep open- ing drop.

Initial losses, rumming up to

$1.05 a bale, reflected a resump tom of the liquidation-hedge selling movement under way at

the previous close following a two-day drop

Buying on technical reasons, of bale, 14

along with

a

up plans to enable Yugoslavia, with large-demand from textile mili ac-

Union and coments scale help from the Soviet East Germany, to become a major producerable prices of aluminium.

The new aluminium

industry

The two countries signed 111 Cognise the East German Gov- Agreement with Yugoslavia in ferment diplomatically. She is Communist State to Moscow in August whereby they the only are Jointly giving credits worth recognise only West Germany 175,000,000 dollam (£58,000,0000 sterling) To enable Yugrslavin to develop un aluminium industry.

of WTV the will be situated

will what their production have not yet been worked however. That is the job of the newly formed commission, which must work fust mrsugh to enable construction of a new factory to begin before the end of the year.

Details factories

Rich Deposits

new

is exparted to be based on three large factories. The existing one 1 Kidriesvo will be expanded and A second one will be built with be the Soviet-Eat Germpe loan, t. and a third with further Soviet-

East German later.

Yugoslavia has rich deposits of bauxite, mestly in the west near the Adriatic coa . In 1953. ahe producod 791.017 tona.

"

1

4

nkd

Alternatives

promised

will. The experts commision it is believed, choose a site near the new The Adriatic coast for factory, so that it will be near its raw materials-bauxite do- | poaits, coal mines, und electele

·chemes under develop.

power

lit more than she produced meet in the Dmarie Alps. before the war in 1939,

she is second among bauxite

re-

shipper Cover

covering against export commitments, en-

to Kadually trace most of the lost ground,

the day's Closing neg

best levels the

3 list finished net [higher to 0 points lower, Open-

were off 10 to ing prices points.

33

New Orleans down) 7 pohats.

cloned up B to

Fisibility of increased hedge

the harvest selling, .5

renches ttmattetilly

long with the

Benson

专业

peak, in

slow-down

texille market activity and " tower

September consumption estimate, explained the early selling, traders thought.

Technicians stapposed some of the bullish implications seen in the supply situation may have been discounted for the recent rise of $$11 to $16 o baje tran the lows of late July.

'Five New York

Cotton Exchange Strvice Bureau today celinunted domestic consumption of ath row collon in the five central One kely mile is in According to Yugoslav figures,

either at Spilt or

weeks ended Sept. 29 at 835,000 y to Fraped Dalmatta,

with 674,000 5.benak. Alternatives are either

compared producers

in bales Muree-

11) the ot

the corresponding last

The daily period

year. govina, or Niksie in Montenegro, -China Matt Special.

rate of use in September average 33,400 bales against 34,300 balon in August and 34,000 bales in Sept. Last year. The etruscated stock remained at 2,076 bales.

Month

Volume Open interest

24,200 430,100 20,400 417,400

Europe, Yugoslav geologists call-Mostar, chief town mato that bauxite TRECTVIS are sufficient to last for two cen)- turies.

But most of this bauxite ban hitherto been exporled, for the production of aluminium abroad.

lons In 1935, only 11,499

tí aluminium were produced in Yugo tavia, while in 1934 the and in Ligure was 3,490 tons 1939, before the war, 1,705 tons. The present regime, which re- cords thia

export materials as a form of "colonial" exploitation, hes for years been trying to develop aluminium industry,

#

of

raw

CHICAGO GRAIN

MARKET

Chicago, Oct. 17. Grain futures prices were steady to firm on the Board of Trade today. during active domestic dealings. The jump in production from The mnin price alimulant 3,500 tone in 1954 to over three | seemed to be reports that the times that amount last year is southwest મ Agata explained by the fact that Yugo-

moisture,

slavia

have already

factory with their own resources

at Kidricevo in Slovenia.

Rolling Mill

Buying by exporters also was

Dec

Mar.

May

19,800

201400

July

8,000

143.900

Oct

11.700

00,100

Dre M

6,000

68.900

900

a.500

Total

84,800 1,453.600 vales

NEW YORK

Prices of futures closed today As follows:

Spol

In need of

Dec.

Mar.

built one

MAY

July

Oct.

a ise.or in the general upturn, Dee. although no great amount of Mar. export activity was reported.

Soybeans moved higher today

higher

on

NEW ORLEANS

And Backs Down

New York, Oct. 17.

Stocks found the going difficult again today with nothing to stimulate demand and backed down for the third consécutive session of decline,

LOSIC'S ranged well over D point in a number of leaders, but there wte no pressure be- hind the selling.

Out of a total 1,131 issues traded, 80% closed lower while 274 mannged gains,

Industrials lost 2.91 in their totalled Turnover

1,040,000 average, pulled down sharply by shares, 60,000 ahead of yester-osses of 21⁄2 points In Du Pont, day but was still far from secunch a point euch in Chrysler, heavy.

Eastman Kodak, Texas Co., Union Carbide, US Steel, Bethlehom and Westinghouse.

Shipbuilding Strong

the Today's lossy came in chemic, steel, aluminium and oil equipments.

WORLD

RUBBER

MARKETS

New York, Oct. 17. The No. 1 Rss rubber futures continet closed today 10 points higher with anles of ave con- tacts.

33.10 Dec The rex contract closed unchanged to 20 poštu ugher with sales of 118 contracte.

Nov. Jon.

Mar

May

July

Sapt

Nov.

A282828

1988

issues

were

Shipbuilding strong spots, closed with losses of 1 points in Bath Iron Works and 1 in Newport, but a gain of 1% in American Ship Building. Oll equipment stocks Halliburgu hil with Dresser off 2%, National Supply down 14.

were

Capital Airlines stood out on the upelde with a 2 point gain axi Fedɗrs Quigan climbed 115 to $12% or a dividend increase,

SECTION

NY SILVER PRICES

New York, Oct. 17. Handy &

Haringi. bullion dealers, today quoted the price of silver at 91% centa a Ane ounos, up cent from yesterday and the highest level since Inte February,

Normal supply-demand fmotors were behind the advance, the third this month. The white metal touched its high this year on Feb. 17, at 925% cents.

Today's quotation is the highest since Feb. 27 when silver sold at 90% conts, reflcoting in pars morensed demand for silver for the holday buying stason, ia 1⁄4 ceni aboye what the US Treasury payı for newly mined domenilo silver.

allver In London, spot

at 80 WAS ap penny penceUnited Press.

HONGKONG

STOCK EXCHANGE

Page

Portable Warehouse Developed By Rubber Company

Chicago, Oct. 17.

A portable warehouse, entirely supported by air and large enough to hold two million pounds of package goods, has been developed by the United States Rubber Company for Calumet Industrial District here.

The pneumatically supported building, 80 feet long, 40 foot

wide and 20 feet high, contains New York Sugar

more than 64,000 cubic feet of storage space. It weighs about 400 lbs, costs about $2,000 and man be erected by three men

in one hour. It is made of paper- thin, tough vinyl-coated nylon fabric called fibrethin made by the coated fabrics department of the Footwear and General Products Division of US Rub- ber at Mishawako, Indiana.

It has been shown publicly to more than 1,000 Industrial leaders

ments

Market

New York, Oct, 17. World No. 4 sugar futurea closed today unchanged to 1 point lower with sales of 20 contracts.

Domeste No. 4 sugar closed un- changed to 4 points higher with of 328 contracts, Covering sales

the November fore its expiration

delivery be

on Friday,

in

affending a seminar accountext for covering the test develop-

tract. In modern tribution, transportulion and warehousing #ponsored by Calumet Arial District Company.

The building was by

most domestic

of the

con-

Contact No. 4 (world)

activity in the

Futures:

Indus-

Mar.

May

July

described

Bept.

Spot-(conta per ib fob Cuba)

Mr Add'son BrOWTE,

cr CID, nd "The Nov. answer to warehousemen's need

(From Our Correspondent)

Business cone on the Hong Presiden

Exchange this 10 approxi- kong Stock

Noon quote-for low cost, low maintenance, July morning amounted

flame resistant, York Stock Exchange mately $300,000. New

Lemporary Lions and the morning's trans:<-

warehousing." lond volume was $2,310,000,

American Stock Exchange tions: volume was 029,000 shares.

shares Buyers Sellers BANKS Dow-Jones ciesing averagesн bank

1010 1030

were:

30 industrials

211 fails

title

03 stocks

40 bonds

sales

Com, future price Moody's index

Index

Index

Солил, трос urica Standard contracă eloned unchanged to za points higher with no reported.

Dec.

Mar

May

July

Sept.

Nov.

882228

Closing Prices

East Aste INSURANCES

244

1000 421%

4.13

494.50 Union 160,24 Lensbard

50.16 S11PPING 171.83 | Whestusk 57 70 X.ALL 161.2 DOCKS, ETC.

www X. Whor 418.00 Dock

Provident LAND, ETY UK Fotel ik Land Humphress

Really

RUBHER

451

13.00 13.90

13.40 15

64 044 A 10.90

100

Sales

400 à 43%

Alden Inc. Acy,

# 1956

1.50

30.75

Allied Chemicals

934

30.25

Allied Mats Inc. Alta-Chalmers

12

Anula..

1.00 1.025 5000

コン

12.000

157D 1.00

231

Trual

1.35

exchanges

in American Cable & Radio Corp. American Cynnamide Co.

ON

UTILITIES

Tra

23 20.70

100 7.00

American Metal.....

201

Star Ferry

142

American Smelting

Yaumati XD

107

100

od

American T & Tei

100%

C. Light D1 24.00 24,90

Amaron Tob. "8"

Electric

Telephone

25

24

Intra-dealer switching opera-American Airline tions, involving

of March- contract the rex

con- January and March-May

a good tracis, accounted for part of the small terminal mar- ket busineIS. An overtone of with steadiness was associated

and the London market

tho continued supply of higher price shipment offerings from

the Far East.

.81-83

32,75

38.70

222208

Anaconda Copper Armon Steel

animore & Ohio

23424.DO

19 24.00 1000 2400

F 500 31.15

2002

According to Mr Brown, "the distribution Industry has been on the lookout for a lightweight, portable building that could be and moved put up rapidly tasily

location to

from one

| another.”—China Mail Specia).

London Market

Unable To

Hold Advance

London, Oct. 17.

Activity increased but

stocks failed to sustain a general advance and som had, irregularity on London Exchange today,

Industrials

the

posted numÉTOUS gains. Electrical share.

were firm. Parsons

and Reynolds. advanced two chillings or more. Other Bections had scattered 200 or 10.40 gains running to about a shilling.

Alba Cons. Mining Baldwin-Line-Ham,

Bendix Aviation Corp.

Benguet Cons

Bethlehem Steel

Boeing Alpiano

3376

230

Borden (The) Co.

58% Í INDUSTRIALS

wero

Burroughs Add Macting

12

Comment

3B15

40 41 381

in

Canadian Preiße R.

2314

300 302%

Care (1) Co.

13% Rope

13.20

Cal, Tractor

Celanese Corp.

15

STORES, ETC. Dairy XD

15.40 151

C. I. T Financial Chase Manhat

#17%

Bank

326 Watson

Commercial Credit

Commonwealth Elec.

Consolidated Edison

Continental Oll of Dul. Стале Со

In the local delivered market,

Factories medium-sized buyers of small quantities the forenoon, but the demand faded out again later in the

No.

Rss was day. Spot

nominally

cents 3214

Prices of futures closed today quoted

This factory, named after Bors

prices for soybean as follows: Kidric, President Tito's economic oil. while yesterday's steady

this planning chiet who died in 1953, markets

com- Spot helped will have a capacity in its pres | modity. sent form of 15.000 tons of aluminium yearly.

Dec

Маг

is cents; at

cents.

Wheat closed up

soybealis

% to 14

May

July

up

to 5%

Oct.

Der

Mat

Prices per bushel in cents: Wheat, No. 2. red

In addition.

construction going on of one rolling mill Razine near Sibenik (Dalmatio)

DI annual capacity with an 18,000 tons of rolled aluminium producte and 4,500 tons of elce trolyte aluminium and another at Slovenska Bistrica (Slovenia) with an annual capacity of 10,000 tons of products of rolled aluminium and aluminium alloys. A new bauxite mine has been opened near Nesic, to yield up to 100,000 tons annually. But this was all on

a small scale compared to what Yugo- slavla's economic planners have for ycors had in mind. It is understood that they tried to in- terest Western countries, with- out success, as well as the Sovie! Union and East Germany in the large-scale development of DE aluminium industry.

New Factory

The Moscow agreement pro- | vides for the 175,000,000 dollars

sh

Spot

Mar MAY July

Si

Cars, No. 2, yellow

Spol Des

LIVERPOOL

BEER88

8888382

Future closings, in pence per

Ib. we're as follows:

Mar/Apr.

a pound.

!

SINGAPORE

The market opened better on overseas advices and remained icody throughout the day on

demand for good trade

grades. Futures:

No. 1 rubber per lb.

Det.

Jan.

No. 2 rubber per tb.

Chrysler Motors

Colgate-Palmolive Co.

Crown Zellerbach Dow Chemicals Cuban Amer. Bugar

linquoted General Electric

ind

70 COTTONS

473 Textile

40 Nervnog

394 INVESTMENTS

43

Allied

000 15 30

13.00 14.10

4.40 4,30 1.60 7,68 2000 a 1.59

4.45

Singapore

Stock Market

but

Oil caine under fre losses were not excessive, Royal Dutch cased about £. British Petroleum and Shell were off about one shilling.

CANALS SKID Anglo-Ecuador lost more than two shillings among the lesser- known olla,

Suez Canal, a wide mover of tute, didded £4.

1

all Dupont de Nemours

10314

Eastman Kodak

0172

El Paso National Gas

Erie Railroad

20

33-9335

Family Finance

Corp.

221

163-934

Ford Motor

01231

Nov 0144-14

General Foods

40

General Motorn

4734

Gen. Pub. Util.

the

37

232-0315

Gelty Oil

47

mostly

23 23 No. 1 pale crepe

• 73-77 115-117

Gudden Co.

30

Goodrich (B. F. Co.

73

25.03

Opening Batu Lintang Rubber Co. Ltd. $1.80

Petroleum 747% British Bomeo

£ 1/10.

LONDON

25.87

Syndicate 0244 Consolidvted

Forclin bonds

Smelters Th

23.02

25.47

No. 1 rubber per lb. Nov. 10-0012

25.47 No. 4 rubber per tb, Nov. 10-87)

25.40 Spot rubber unbeled

25.33 Blanket crepe

Goodyearing Co. Horlake Ingersoll-Rand

Inland Steel Co

The market was steady with Int'l Business Machines

25 37 #pot 1/16 of a penny higher at Int'l Harvester

25.11 274 pence.

Closing prices

2470

206-20

Old contract

Oct/Nov.

Dec/Jet!.

22831

May/Jun

July/Aug

New contract

Oct/Nov.

M

May

1409 1437-144 14013

Dec/Jan.

Mor./Apr.

May/June

July

July/Aug.

Sept

Eayutlan Karnak Nov/Dec.

0.00

Bye

SAO PAULO

Dec.

Ma..

1432-12 1884-15

Oats

Dec.

Mar.

1034-Já 0914-1

December

March

Boybeans, No. 2, yellow

May

Spat

22534-22014

July

Nov.

26115

JAL Mar.

24415

July

25012 25816 251のほう

130-145n

$13.200

annual Barley

to be spent on buikling a large new factory with production capacity of 60,000 tons, and Од expanding and modernising existing plant to in crease its capacity to 50,000 tons, making a total annual produc tion level of 100,000 tone by 1981.

The Soviet Union and Eas! Germany will provide equip

Spot

New York Dour

200 lb. sack....

►

United Press. WINNIPEG GRAIN PRICES

Winnipeg, Oct. 17.

Future closings, in cruzeiros per kilo were as follows:

October

30.00

International Nickel

Singapore, Oct. 18.

today quoted following stock prices:

Brokers

54/

21/04 4091 Fraser & Neave Ltd. Ord. $2D4* France & Neave 7% cum.

$4,00

Ballish Governments finished with gains

around

were caster ad- except for a few £4 vances in German and Japanese

licos.

Dollar stocks showed an ir- regularly lower trend.-United

35

1033 pref..

International Paper

115

| Gammons (Malaya)

Limited $2.00

No. 1 tas pat SMUement house ierin

276-27421

Tel & Tel Kennecott Copper

913

tongkong & Shanghai Bank-

ing Corp.

FX43

Nov.

714-275

Dec.

214-273

gett Meyers Tob, Co. Lackhoed Aircraft

6416 Hongkong Tin Ltd.

d/bd

Pross.

50% Kempse Lid.

Jan/Mar.

Apr./June

27-2714

22122735 La Cement

Lone Blar

1916 Lune Rubber Zirates Lid."

80.00

Co.

07

Mainyan Breweries

$2.97€

05

Jug/Sept.

New Serandah

Rubber Co.

2342

Lid.

$1.39

Oct/Den.

Bembi Iron Corp.

Pataling Tin Ltd.

$340

376712

Mishesota Mining

17?

Ranies Hotel

$2.50

27-273

341

Mission Development

Singapore Cold Storage ***

$1.83

Montsanto Chemical Co.

301

South Britah Insurance Co.

Montgomery Ward

423

Ltd.

$33.50

Motorgia Inc.

45

Straits Trading.

$20.00$

United Press.

National Cash Reg. "A"

Biral Steamship

$15.50

Prod.

United Engineer Ord.

Wearne Bros.

$3.15 $3.23

20%-20% Louisville & Nashville . 261-2015 Lowenstein & Sons.

40.00 General markets, eff haste, poria:

$8,00 3.10

Nov.

Dec.

39.30 Estate Sepo

In the US the average price was unavailable. Salfs totalled 03,097 baics-United ProSS.

LONDON METAL

PRICES

London, Oct. 17, Prices of metals, closed today in sterling per long ch

Prices of grain future; closed follows:

ment, technical assistance and today in cents per bushel as documentation. Russian and Go-follows:

man 1. experts

construction.

will superviso

Oste

per

Oct.

Nay

July

Det

The Jon will bear two cent annual interest. Yugoslavia will repay it in kind, that is, by sending aluminium and alumin- ium produce to the Soviet Union end. East. Giżyánky.

First Phase

This is to be a "drst phase,”

・

Barley

and the three governadente are to Y negotiate further credits Inter." Some Yugoslav, engineers dla Main" / that the country's" annatal production cerereould attimate

£300,000 tortuga Politically, the

interest « bocnube," "Kugoslavia

Tin spot

3-month

Copper, społ

3-mont

Bend End hali

Lend and half

Kine and haiť Oct.

thin Oct.

thick

New York Foreign

Exchange

New York, Oct. 17. Closing rates were:

National Dairy

National Lead National Steel Corp. New York Central Oila Elevatore Ohren-Inola Glass Pacific Gas & Elec..... Pan American Airways Paramount Pictures Parke Davis Co.... Penny J. C. Co. Philip Morris Procter & Gamble ( Pittsburgh Plate Glas

Publicker Industries Pure Oll

Nadio Corporation) 2.78-1 277-Vid Republic Steel

• cook ↑ exdiv È cundiv.

| NEW YORK METAL

FUTURES

Now York, Oct, 17, Prices of metal futures closed today in cents per h as follows: 15.074 Lead

Oct.

10.06 104,750

13.0

buyeru nelier | England official ...

Nov.

813

30- diny

futuros

Oct.

104

785

futuros

200

New Zealand

Beint Reg. Paper

Nov.

200 2001

nited Press.

Sinclair Oil pr

Zinc

Qot

Bocory Mobiloll_

Nov.

$10 128

outh Puerto Rico Bugar

Boullyerty National Gam

Standard Brande Blendero

113 113

CHICAGO LARD FUTURES

by Chicago," Ook. 17, Prices of hard futures closed, today, in cents per lb, 'nf%26llonte?,

London Foreign of

Exchange

London, Oct. 17.

Standard &

Corp,

Copper Oct.

-Nerv

Sipot prices:

2 conda per ib. $4.50 per 1b... $40-40 person per;ib..

21.10 cents per ib

Exchange Rates

(market

May

Sept.

Nov.

Contract No. 6

Spot-(cents per lb. cit

NY ex-duty?

United Press.

NAMESAKES

265 873688 2

Answers—1 Hesperides, Strength, 3 Pillars, 4 Arcadio. 5 ĮAugeas, 6 Legend, 7 Cerberus, &

Amazons.

Hercules.

.:/

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