1956-10-31 — Page 9

THE CHINA MAIL,

WEDNESDAY, OCTOBER 31, 1956,

Page:

TRADE and

COMMERCE

Australian Stevedoring Costs

Inquiry

LINER TRADE

A MONOPOLY

Canberra, Oct. 30.

HONGKONG London Sellers

STOCK EXCHANGE

(From Our Correspondent)

Ко

this

To

Unable Find Buyers

London, Oct. 30.

SECTION

US GENERAL

IMPORTS

Washington, Oct. 30. The Census Bureau to” day estimated "that" United States general: Imports during September totalled about $1,912,000,000, aibritty Jess than August toml of $1,049,000,000.

The Bureau preliminary estiriate is nasally within: 2.5 per cent of the finst figure when all statistics are compiled. Walted PTCEL

WALL STREET RECOVERS FROM SHOCK

New York, Oct. 30.

Stocks, the wind knocked out of them by yesterday's news of the invasion of Egypt by Israeli troops, recovered equilibrium today.

Business done on the Hong- The Stock Exchange suffered a severe slump morning mounted to approxi- today within its first half hour for many people New York Sugar Britain and France will occupy A committee inquiry report Oll mately $243,000. Noon quota were in a rush to sell and very few were willing to

buy. Australian stevedoring costs presented

in Parliament

the says

ultimate

determining factor of overseas shipowners

Stock Exchange

sabel the munity's irans.. itlons

Buyers Sellers

Bales

1324

240

Share BANKH

Kast Ana INSURANCES

in settling freight rates is "what the G traffic will bear."

the

The report Juh That ship- owners engaged *ነ

A- tralia-Brilalt-Continental liner trade, viewed as a group, bad the

- in effect 2 monopoly

traile

added flint there had

not been a strong organisation among the Australian

trumpin M, Scrape akampistest- were pussed back as rebates

cheol, who in most cases were alse proprietors, befor the inal bet figure was settled.

Was

Major Deficit

ל.

Wheelock

X All

ጳ ዝ

Sol

KS, ETC

K What

Dock Provident

42.

44

35

LAND, E

IK

1420

24 14.00

1th and

Belly XD

140

KUBBER

Ande

120 $7,000...

Tru1

300

105 2000

UTILITIES

231

304

Tram Yancienty

shippers The report stated that Ausras proximately AL100

* L 24 20 24 inillo oyeur. This was paid 12g INT nimost entirely to shipping com- panies domiciled abroad are as such represented a major dele." item in Australia's overseas has lance of payments position.

to negotiate with the shipowne i fa's averaus freight corringe bill

The xinwners had a fuels relating to the profils murde the Anglo-Australian trade. but only great facts connected with mevement and costs.

This had restricted the field argument of Australian shippera

cost movements only.

One-Third

The report sunt fort stevedor- ing costs incurred by hups run- ning between Australian Con- tinental and Brilish porta дорого presented about one-third of tom total vayege rate of ship, en-

In Australian Raped trade.

Stevedoring custs had risen by 100 per cent in the past eight yoors in this trade and in Aus- trallan inter-State shipple," The net profits of alevraboring panies in Australian port

gether with rebates returned by the shipping

companies

Maran M Tel: (01

INDUSTRIALS

200 100 500424-15)

134 30

700 30,

21.30

300

#20

30

24 10

2400 241

Pent

37

20027

STOLS, ETC

Wils

11 CO

14 Bu

500 12 14.50

100 14.00

023 40 1440

(143

POSITIONEN Textile

+

4 244

INVESTMENTH

Allwel

G 10

-4 יד

Mr Harold Hot, the Austry- Han Minister of Ladun, Heated the report to the Harr of Representatives he p Maut Sperit

London Foreign Exchange

Ang Fales ww

York Montreal

A me?

↓ to...

2784-270-10 26/10 (1/16

1.19 ba 199 £75. 1034, -19 347, 11-11 04. 1732-4753

LONDON METAL

PRICES

London, Oel. 30. of metals closed today

i sterling "per leng ton as foi. lown:

The st.

1-month

Copper spel

3-month

015 DIT

to-

1

vers melior $50

knhage

Frankfurt

Milan Port

Youth

207

2801 287

RUTA

110 11

Jan

ZH 200

not

A were unchanged

half Det

Jon.

11545 170 101

91

the net profits 1-ßected

the

Vruled Hress

crrased by 493 per cent, the re- port revealed.

The report sold that

1447+14 409 1222-12,221.

A reflection of

good taste

BORN 1820

STILL GOING

STRONG

Johnnie Walker

FINE OLD SCOTCH WHISKY

Sols Distributors

OKI MACONEGÓR

Leatt 2nd half Get

A582 United Press.

down

Bluc

chip but

were industrials ide

Rolls-Royce fell 2 Courtauld Unilever shillings, and several others were down a stilling.

In most cases prices remain- 3s 6d and Anglo-Egyptan "B" cd down ull day, closing at 2s fd Suez Canal fell 21% to The British Bank of ^ 06 ዓ. their lowest levels.

British

now the Middle East and the Nation- Governments. faced with increased national al Bank of Egypt both lost expenditures to be fanmeed by shilling. Treasury bills, were weak. War Long at one time wCK to £80, its lowest in history, but it closed at £00% with a tre las of Bs 9d; Old Connois

both lost and! "Daltons" shillings.

O Were pressed for sale, Royal Dutch Jost £11⁄2 to £79 while British Petroleum tumbled 7 shillings, Shell 4s 6d, Burmah

WORLD

COTTON MARKETS

New York, Oct. 30.

now

10

German suffered an exodvus with 7% per cent Potasit non- Lie assen!ed down! 23% and parented down £2; the 6%1⁄2 per cents, non-assented, lost £3.

East Europeans were unsul- able and were down about £1 sterling.

Japanese were completely motionless.

On the whole, a market with-

out any spirit --United Press,

בית!

Market

New York, Oct. 30. World No. 4 sugar futures to day closed to 3 points higher with acles of 195 contracts,

Domestle No. 0 ugar futures closed unchanged to 2 pots higher with sales of 12 tracts.

cun-

Firmness reflected the generi five in commodity markets and Blability of the raw situation. Futures:

Contract No. 4 (world)

March

3.35

May

July

September

Boot.(cente

• fob

Cubo

3.37

1.13

Contract No. 8

March

5.55-59

May July

8.00

September

Spot-(cents per ib. cif NY

ex-duty)

5.04 8.00

0,00 -United Press.

Wheelock's Meeting

(Cont. from Page 81

bew

more

Cotton futures trading

55% of the Company's Lestred flattened out today

fol- management is seeking work to capital. We are considering a course of action designed to towing a short-lived open-in the gap.

MERCHANDISING: Shewan overcome the unfortunate Im-- ing rush of activity. Prices Tomes has made progress under passe which is having its effect

with moved irregularly

arrangements fore upon the development of the das Company itself as well as easing shadowed last year but months nearby while

held remains to be dona Cornce & upon the interests of its share- crop

ilyholders. Co

Ltd. continue satisfactorily

Comparing the figures in the steady.

their general activities in Japan.

Consolidated Balance Sheet you FINANCE: Commercial 1n-

under its will see little change in the fixed vestment Co. Ltd.

assets whilst as regards invest- Mr P. G. Managing Director,

ments the reduction in the total ot Caleina, with the assistance

hard- of those unquoted is principally Mr P. Y. Zee and their

thue to

item One substantial working staff has had a

most having become quoted during successful

year, and is now the year.

This-Stém-and-firther firmly established in the fore-

acquisitions, largely abroad, front of their business,

accounts for the incrense of

At the opening the let ruled 11 lower to 14 points higher Opening prices were off 5 to up

New Orleans closed i 10 points. off 10 to up 10 points.

development Trucll-Egyption

calmer in ย sentimem following Monday's late burst of covering and trade buying on the news,

viewed

here

over Our

Habilities to

maricel

Prices steadied offer early dealings, when Rome experie concluded that the Middle East crisis would be settled ROOD. when it was announced

the Suez Canal zone in 12 hours the market promptly reacted with oils in a spurt, especially the Middle East chief benef claries of demand, with gains ranging over a point in Gulf and Getty, nearly a point in Royal Dutch, Wilcox Oll stood out with a-point run-up. Continental lost 2 points. Standard of Cali- fornia nearly a point,

Uncertainty

were

There WOR much uncertainty a

the 1st, however. apparent Its and

balance prices on somewhat lower, although there was no particular pressure to the selling.

Industrial average closed 0.47 lower, rails of 0.72. A gain of A point in Peoples Gas helped utilities rise 0.07. Of a total 1,110 isuses traded, 555 were lower, 322 higher on the day.

Turnover

dropped

WORLD RUBBER MARKETS

New York, Oct. 30. The No. 1 Rɛɛ rubber futures contrnet today closed 70 points higher

of 22 con- with rates tracts.

Dec.

36.00 The rex contract closed 40 to 75 points higher with sales of 374 contracts.

Nov.

Jan.

Mar

May

July

Sept.

Nov.

4,80

Standard contract closed 50

to 75 points higher with sales of five contracts,

Dec.

30.70

Mar

34.20

May

33.00

July

33.10

Sept.

02.00

23.10

Nov

Speculative activily stirred on the termino) market reflected the strength at London and growing In the Middle East, with attes- sharply dant

uncertainties relating to

from yesterday's level-10 1-the Suez Canal and the over- $30,000 shares from 2,420,000.

hanging throat of a dock workers

Steels hatt

a good shore in the features. Ladens stood outstrike at home. with a 3-point rise, Bethlehem and US Steel armed,

Shipbuilding shares strong.

Dow-Jones closing today were as follows:

30 Industriais

20 rails

1

uities

3 stocka

40 bonds

ac-

Commission

houses, dealer interests and

other trade counts were on the buying side, were with scale-up

Calising and hedging supplying the contract, averages Proft-taking by

early

buyers whittled extreme gains at the

486.47

100,70

Gallment

olierings were ro

171.00

Comm, future prive 164,13 (1956 high) Comm. spot price Index Moody's Index

Closing Prices

Allied Chemical Allis Chalmers. American Metal American melting American Tel & To American Tob. "B" Anaconda Copper Baltimore & Ohio

Bethlehem_Bigel

in paene 1. Chrysler Motors Consolidated Edison

Motor

Operating Fully nearly two millions in the quoted Experts reasoned that as far

section and there has been a as raw collon exports are con-

AVIATION: Far East Aviation | further increase cerned, the situation would not

Ltd. and Far East Flying Train-values. It does not include the affeci cotton to any great ex-

ing School are operating as fully additional holdings in Textile tent. It could disrupt the move-

cotton out of Egypt, and as circumstances permit but are Corporation referred to earlier ment of colt

with

unlikely to resume business on which wore not acquired until interfere willi

trading

reasonable senje until the after the close of our year. India, which factors might be

In the current assets the in- Cuban Amer, Sugar Dupont de Nemours more influential on the Liver- conflict of interests in the Far

East comes closer to being re-creased amount due from sub-etman Kodak pool market, traders figured. Leading

sidiary companies represented General Electric spot interests were solved,

December WAREHOUSING & TRANS- their current temporary financing General Foods sellors of the

nearby delivery, presumably ilquidation FORTATION: We have aban- requirements whilst there was a General M

doned our interests in China, reduction in the amounts due Goodyear Tyre

Int'l Business Machines against spot cottom purchases,

from associated companies as a The certificated stock remain-handing

Asufts and resuit of their reduced needs at Int'l Harvester Government-

International Nickel ed at 2,683 bales.

NI | the time.

Int'l Tel & Tel The Government weekly sponsored Corporation. It might

shipping loans (Japan) Kennecott Copper The weather report was favourable have been possible to have done have been reduced

by 16 mil-Lackheed Aircraft

Loewn Incorp, bal hud little market reaction. 30 sooner but our Towage and Picking of the remainder of the Lighterage business was establons and since the end of our Lone Star Cement Co.

amount of six | Motilgomery Ward advanced rapidly in the lished in Shanghai more than year a further crop

and a half million has been re- National Cach Reg. * century

National Lead In Texas, picking main belt.

o whilst the con

ceived Other advances against New York Central in siderable development of our ship and ginning is at a prak

ships have increased by over 30 ous Elevators irrigated northern and north- prewar years had built up a western sections. In Oldahama, business with such substantiat millions and since the Accounts Pacific Gas & Elec.

Paramount Pictures picking in about 70 per otat asscis that it was difficult to were made up, there have been an American Airways

further substantial advances and Radio Corporation complete and about 25 per cent make the Aral decision. We commitments. The reduction Republic Steel complete in Arizona.

1) Sclair Oil for the Fleet in the figurn Volume Open Interen had been fortunate for some demands years inasmuch as the

settlement of

our any Mobilo

Standard Brands made upon us were email but due to the

for the loss of Buf. Standard Ol of during the last year they had claim increased in size and tempo and Nigelock. The Fleet now con-tandard Oil of Ind. Standard Cl of NJ single vessel, 9.58ludebaker-Packard Corp. rather than yield to them and sisty of a cmbark upon

Hydralock. programme of

Satisfactory 68,600 1,300,200 bales heavy remittances it NEW YORK

decided to submit to

The process is so Current Liabilities and pro- United Aircraft familiar to you all that there is visions show substantial in-US. Gypsum

US. Rübber and US. Smelting 13.02-83 no need to give detail, but after creares in bank overdraft

some months of negotiations and amounts due to associated com- U.S. Stoel

panies, both of which have de-Warmer Bros.

The Westinghouse Electric tho creased significantly since end of our year. Sundry Cre-Woolworth ditors and Provision

millions two

after approaching arrived in Hong-

augmented by a having been further two million from Frofit and Loss Account, It includes part of the profit on the sale

ге of ships which has been tained until the Ibans and ad- vances in connection therewith have been sellled..

December

Mont

March

May

July

October

December

March

10,000 11208 17.00 3455.00

307,000

412,200

9,000

106,700

10,400

117,100

2,300

U9.200

300

13,200

Total

Prices of futures closed today

us follows:

pressure.

Spot

24.450

December

March:

33.02

34.00

July

33.68

October

12.97

December

32.00

March

32.97

NEW ORLEANS

May

De follows:

Spot

December

March

May

Julp

24.07

was

the

after all our property had, been handed over as an offact to our "Habilltics"

our Manager, In Mr J. S. Hoot, an

Shang received their Exit Contingencies shows a reduction

bis

Prices of futures closed today Permits And

kong in June.

A long chapter in our history has thus closed and your Board Is satisfied that whatever the future of trade with China may be-and we are ourselves not at present interested in that activity

tho day's

ys of trading in China Future closings, in pence perjare over for concerns suc

such as 1b. were as follows:

our own. Old contract Det/Nov.

October

December Marchi

LIVERPOOL

Dec/Jan

Mar/Apr.

May/June

J07/Aug

23.07 25.47.

no

From the Profit and Loss AC- count you will see increases in So far as our Accounts are the Trading Profits item and the 232 concerned we had written our wholly satisfactory profit of $5,200,000 on the sale of ships, 2503 Shanghai assets down to

a substantial part of which re 247minal figures and our two

founding

Victoria prosents prodi now released Compatie

& Lighter Co. respect of transactions effected 29.25ing

and G. E. Marden & Co. In previous years. The incrense Ltd. are 100.00

inactive. We shall in management and general ex-

ponses, la mainly

accounted for hope to revive them either in

by an increase in commission Futures closings, in, cruzeiros the Colony or lowhere, per klo were as follows:

New contract Oct/Nov

Dec/Jan.

Mar/Apr.

May/June

July/Aug

BÃO PAULO

| Egyptian Kaynak Nov/Dec

•Now.

180.

Mar.

May

July

Oct.

price

was

unavaliable,

Increased

concern

whilst Bank interest is Batez e

"dollars

himser. The sum of two y

beari been provided

"amount, In

respect

unquoted 37.00 unquoted Matters of interest 25.0

of the ing our associated companies in contingence Iscluding en 3896clude the raising of capital by four on

Jonson umber operations In

Erwitt & Co.

Texas Co.

Union Carbide

Union Pacific Railway

168,00 418.10

moderate and high-priced. discretionary offerings were reported, but little actual Consumer business developed. interest in the delivered market remained on the sidelines. Spot No. 1 Rss was quoted nominally 34% cents.

SINGAPORE

The market opened frm on trade buying on overseas orders. 52xd After slight reaction on prófif-

taking, the

market

ogain advanced on Middle East news.

3134

27

167

75%

012

3335

There was some forward buy-

10ing and a good demand for low

7 grades Factories were Inactive.

Futures:

ป

No. 1 rubber per ib. Nov. 08%%~98836

07 No. 2 rubber per ib. Nov. 907\ 401 No.

4 spot rubbor unbated

Dec. 03-0841

Jan. unguetext

96-9632

02-021

0634-05

79-61

110-131

4016 No. 4

20 Blanket crepe...

LONDON

475 No. 1 pale crepe

The market was easier after

17strong with spot

at

1004

quoted

63% 30 1/18 pence per lb.

20

No. 1 Ras spot

Prices:

2013034

00

Settlement house term:

41

Dec.

30-301%

Jam Mar.

30-3014

514

Apt/June

2013-209%

July/Sept.

2016-20

General markets, etf bani, ports:

4831

Nov

2035-2004

Dec.

299-2055

Jan.

2014-201

37

Estate arepe thin Dec.

$4

.thick

unquoted

100%

3xd

30%

46

AMSTERDAM

The market was very Arm. Prices closed in guilds per 875 kilogram, eif Nov. as follows:

6036

No.

rubber

No. 3 rubber

AZY

No. 3 rubber

474 No. 1 crepo

£1495

United Press.

28 paid

2.83 padd

2.78 buyers 3.40 paid

United Frogs.

NAMESAKES

Answers: -- 1 Britons, Romans, 3 Chariot, 4 Defoat, 5 Victory, @ Forces, 7 Queen, 8 Baltic.

Boadicea.

P.O

R.M.S. "CARTHAGE"

SAILS:

NOTICE TO PASSENGERS

·BAGGAGE:

Thursday, 1st November, at 12.00- Noon for the "UNITED KINGDOM, via Singapore, Penang, Colombo, Aden and Port Said,

Passengers are requested to send ALL

·BAGGAGE ~ to the Hongkong ot Kowloon Wharf Co's Godown No. +2 GATE, CANTON ROAD ENTRANCE, By Noon on Wednesday, 81st October":

Ootive is the average spot the Textile Corportion of Hong- Sarawak indicated to you last SPECIAL NOTE: With the exception of hand packages

operations in Singa Sales kong as a result of which our year and of opers totalled 05,324 bales-United own Investment in the concern pore. There are sundry ad-

increnating Herom which ⠀

【plariator)

on-the

·no, speci

*Press.

#boen men facturing (Hold= {mal"

hoo

Leigh

to

Exchange Rates Bo

"changod la nume Marden, Lok, BROCK (continued; 4

to expand. - plani Alded :: Investors hasly again

Tafance

carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's eling only

Passengers - should ́embark betwee 9.30 and 11.00%n.m; on Thursday, “lat

aber 1956%

ration with or without notice