1956-11-08 — Page 9

TRADE

THE CHINA MAIL, THURSDAY, NOVEMBER", 8, 1956.

and

Shortage Of OUTLOOK IN AUSTRALIA

The

Rubber

Expected

forecast

Washington, Nov 7 Commerce Department i today that temporary

shortage of natural rubber may develop in December.

The reason i sindel,

Surcharge To Sudan

London, Nov. 7. The Liner Freight Rule Con- that, ferences in the outward

trade

shipments from the Far Eat to som fritain and the Continent

The United States diverted through The Canal.

The

Inure

being to Port Sudan deelded tonigh! to impose a 25 per cent

charge on cargoes to Port Sudan

A

- pokreti that the surcharge

said

→

Europe is Exp) +

The surcharge will coine Into nifested by the verờiling (effect on cargoes landing on and nway from the now-closed

Ite: Nuvember 8. Suez Canal and around Afrien than 3 The United States. European tariafareturers,

and use Rich may huy creased quantities to American synthetic rubber in November

ami beverber US mocks synthetic

#1

tonight TVAs neces- Mary because of the great devia- tion involved In going round

the Cope

were

described "well above nortual stil pre- Cuction is capable of convictea - alle Therense,“ - Ulanted. Thes

+

ki

No decision w Inward freight

Bri- coles from Port Sudan 10

and tapi

the Continent bad

b

tonight.- Jule MARTE hooop Mud Speelal

Wall Street Reaction To Ike

PROFIT-TAKING

FOLLOWS

INITIAL SPURT

New York, Nov. 7.

Wall Street response to President Eisen- hower's smashing victory was

an

initial sharp

spurt on late tickers followed by profit-taking on greatly reduced volume.

Initially, prices run up 2 and

the heaviest first

3 points on

hour trading since February 15 with Berks appearing in blocks ranging to 10,000 shares.

The

million-shire

toll for the nat 0142 tickers as much JAN four minutes behind Boxer transactions and kept them uing late or 30 minutes.

Ao

Mach

Awan Metal zd Am Sugar Ref American Tol & Tel Aneesan Tob "B" Anaranda Copper. Anneo Steel Attour

Atlas Cons. Minteg

less-Lin

Bairgaone & Ohio

22

100

744

772%

062

1714

201

Capital Formation Is One

Of Biggest Problems

Australia is not unique in its urgent need for capital. Scarcity of capital is a familiar feature, not only of the new countries of the world, like Australia, but also of the older countries, says the Australian and New Zealand Bank's October Survey. The United Kingdom and most of the Western European nations have all spent large sums in recent years on capital works of one kind or another, and the majority of them are continuing to spend heavily.

WORLD RUBBER MARKETS

New York, Nov. 7.

The No. Rss rubber future roadtact today closed 30 points kower with sales of 17 contracts

Der

34.30

The JUX contrael closed to points lowes to 16 points higher

with sales of 320 contructa,

Nov

المنال

Nov

Even in the US, where the race of capital formation is high, local require- ments make heavy demands upon available capital, and there seems no likelihood of these demands slackening in the foreseeable future. On the contrary, we can expect that the high rate of plant obsolescence and replacement arising from technological progress will make still greater demands for capital, in the United States particularly.

SECTION

Natural Rubber

Production

Weelington, Nov. 7.. Wort production uf natural rubber In Septem- her of Bifs year amounted to 14:10. lòng Lan, a drop of 25,000 tons from Beptember, 1935, 'The_tf8" Department of Commeres reported today.

Production for the first sine months of this year.... totalling 1,345,000° Tok was also down from sho 1,367,500 ions of the first

la 1955.- pine months United Press.

HONGKONG STOCK EXCHANGE

{Page 9

London Market Operators Cautious

London, Nov. 7.

Confusion over whether fighting actually had stopped in the Middle East brought caution to the Stock Exchange today with the only activity in the oll:group.

Tradera, who had notd oil } tharen short in hopes of buty-

ing them at bargain levels. New York Sugar

rushed to the group

hifitng

shares of Royal Duicli as much 6 £3. Smaller gains appeared in Anglo-Egyptian "B","British Petroleum, Shell and Burma

Industrialy

Market

New York, Nov. 7.

futures moved cautiously

4 sugar World No.

unchanged to 2 Except where American buying closed

was strong. Most leaders regisTM points lower with anics of 170 tered gains of about a shilling. contrnels,

Dollar stocks jumped 3 to 8 The domestic No.

points on the Eisenhower land- silde.

0

futures closed 1 point lower to

kugar In foreign bonds Hungarian point higher with sales of six

contracts, lestic held unchanged; some German

bonds were higher An improved view of the situr- and nearly all the Japanese tim in the Middle East brought liens were down.

realising deferred world do- British Government bonds liveries, while the domestic con- were idle and mostly unchanged. trnet marked time awaiting raw Business done on the Hong--United Press.

market developments. Futures: this Exchange morning nmounted to +4]=

(From Our Correspondent)

Stock

kong proximally $474,000. Noon CHICAGO GRAIN quotations

transactions:

Bhares

BANKS

MK Bank

and the morning's

Buyers Sellers

Biles

MARKET

1

Chicago, Nov Grain futures on the Board of 1010 Trade were about steady today, holding to within narrow landis during a very active trading.

Most contracts rallied just be- their low fore midday from 8.78 opening prices to about 1.39 with Monday's close. The lower start was attributed to reports that Poland would receive a 500 13.00 gift of a large quantity of wheat

from Russia

34.09 33.70

Mar

33.40-15

33.00

July

43.40

F-pil

31.70

Australia

31.25

Standard contract closed 10 points lower to 18 points higher with no sales reported.

Dee

34.05

national developinen!,

The outlook for Australian; must also be remembered that borrowing In International capital formation js closely capital market, is thus sol en related to inflation. couraging.

needs The hard fnet is that capital from overseas in sub-country, any more than an in- Individual, can make capital in- stantial quantities to assist maintaining a rupid

of vestments without saving. It porticu may be argued that

East Asia

1005 1620

244

N

រាជ

INBURANCIS Union

SHIPPING Wheelock

113

■

6.75 0.70

1000 or 1.35 1.40 300

DOCKS, ETC. saving. Whart..

Mar

33.30

May

32.10

July

32.23

$1

Nov

النا

4 טיו

DO arly heavy immigration, with within Australia will not be Dock

4332 441 1400 44 borrowing

ing Provident (0) 13.30 13.80 out imposing an undue burden necessary if outside

has and causing too much dislocaj can be arranged. But, as

LAND, ETC. low in the Australing, economy, j already been pointed out, there iİK imel ..

is not enough capital avaliable

HK Larid from oversea sources to make more than relatively Small Humphreys. contribution towards

The Home Front

nancing | RUNDER

*Tram

Yaumali

31.00 31.10 Termicul market operations Blacked

feature. speciai Deulers and other trade interests operated cautiously eith Way. pending new incentives.

In view of the shorlage of the large-scale developments) Amalg certainties

ddle East available capital throughout the projects which are going in the Middle

for- Trual 204, Altuation were restraining Western world, It would be wise word on such a wide front in UTILITIES

traders, Other traders awaited policy for Australia

to take Australia. scheduled meeting in Washing- advantage of

every possible

M capital at Fry The greater part previously opportunity to (21) tomorrow

oblain capital requirements must thus come reported proposals to lengthen on reasonable terms from over- from Australia's own resources. C. Light (0) 13.90 the tine

how it cannot be stressed too much c. Light (N) 23.20 23.60 for replacement of sea sources.

maller 191 rubber

under

individual secured

the mail the

amounts that

this - involves surving: ctele rolation plan from the stockpile. may appear to be.

Capital can only be accumulated Macao E. Capital formation is probably by forgoing current expendi Factory buyers are expected to press for a longer period, but

one of the biggest single prob- ture on consumption. This 19 dealers are expected to take the lems for Australia today, and it clear to Individual in his Tel. INI

overy 4614 opposite side.

or her own private affairs. The INDUSTRIALS same applies with les force Conent to the community as a

whole. Rope

the

40 Meanwhile, Inctory

Bents Aviation Corp.

60

run-

Bengal Cona

Bethetown Stee!

105

Beetog Airplanę

30

Kurden (Thiel C,

Front on

backed down,

Lacters

Burroughs Add Machine Lanadian Puriñe R Le Co I'l

10

14%

C

401

technicians

0214

facturers

24th

From the securni bowever.

palees stendily but slowly as operakuts turned to realising sette of Se galus which had piled anticipulsu

results

171

the

election A Threatas mesetve-

tion rally hand billion to not make

CORTIC

D

Market volumenintag sand the mike was performing true to form in selling since the election results brut been lagely discounted. They attributed the initial spurt to the wide margin of the President's victory.

Industrials Cut

The rendising, while sufficient ly heavy to cut industrials 4,22 on average and rails 1.34, did not reflect any pressure against the list as evidenced by volume.

Despite the heavy Brst hour,

for the day totalled turnover only 2,050,000 shares, compared with 2,830,000 on Monday.

Hardest hit

of

the

Jending groups were international oils which reflected news that it will take possibly three months to re- pair the Suez Canal damage Oult fell more than 2, Royal Dutch nearly

2, Standard California 2 points, Texas Co. o point.

of

Aircrafts and metals held the beat. In aircrafts, German rose nearly a point, Douglas Glenn Mortla more than cach,

Financial Corp Clure Mithaf Barsk Cinsi Motor c Ci Moly belzium Colante Patmolive Co Cormaretal Credit

Comniony vaith Elec. Convolutulva Edisoni Continental 421 of Theel. Line

Crown Zellerbach Cuban Anet Sugar Dianoat Alkahı

Dow Chernenk

Dupont de Nemours

Eastman Kodak

El Paso National Cas

Erie Radiroad

Ford Motor

General Electri

General FoodR General Mutora Gen. Pub Uti Getty Di

buying

124 in the delivered market re- mained slow. Some market thought manu- and "short"

were waiting for a buying opportuni-

402 13.

4746

Shipment Alterings were

10 moderate to good, particularly on

43

118 remil grades, brokers sold. Sixt

714%

No. 1 ss held at 34 cents a pound.

SINGAPORE

The market was steady today. There was some good trade sup-

[actory puri but

Interest was

small.

Future closings were: No. 1 rubber per Ib. Nov. クー

Dec. 1871-901 Jun. unquoted No. 2 rubber per ib. Nav.

Family Finance Corp.

50+

9

47 30%

18

No. 3

*

37

2016

No. 4

Blanket crepe No. pale trepe

03

LONDON

Glidden Co.

Goodrich (B. F) Cu Goodyear Tire Heyden Cheinteal Homstake Mining Ingersoli-tan

Inland Steel Co.

interchestral Corp. Intl Business Machines

Int'l Harvester International Nicket.. Inferrertional_Paper Int'l Tel & Tal John-Manville Co Kanvas C. Power & Light

Kemirolt Copper Lugott Meyers Tob. Co Lockheed Atrerofl Loews Incom. Lone Star Cement Co. Louisville Se Nashville R. Lowenstein & San.

Metobi Iron Corp. Minnesota Mining Mission Development Momante Chemical Co. Montgomery Ward Motorola Inc.

and National Cash Iteg. "A"

1

Steel shares, early upside leaders, had losses of over a point in Bethlehem nad Inland. US Steel hold a small rise.

Chrysor, selling ex-divident, lost 1%, Generni Ford held steady,

National Dairy Prod. National Lead

"National Steel Corp.

New York Central oun Mathieson Oth Elevators

Owen-illmoi Glass Pacific Gas & Elec.

104 Spot rubber unbaled

no

WORLD COTTON MARKETS

New York, Nov. 7. Prices of cotton futures closed today us follows: Spot December March May July October December

March

110

CUMTM

Tel. (0)

even

Trade sources paid wheat to- 200 m 10.10 2000 t 15 day closed off to 1% cents,

100036 soybeans up to 11⁄4 500 - 03

Wheal, No. 2, red

30 or 100

Contract No. 1 (world)

Мот

My

July

чет.

Spot-trent pr. lb fob Cuba)

Contract No. 6

Mai

Mar

July

Sept.

Nov

Spol.teenis per

ex-duty!

88972

5.77

United Prem

NAMESAKES

7

Answers--1 Engine, 2 Ran- way line, 3 Companies, Trans- port, 5 Signals, 6-Freight, Shares, & Terminus, 9 Lands, 10 Trains. 11 Locomotive, 12 Finance.

George Hudson

Wherever

(The railway

you're going.ði

14.80 10

03 0315

10.10

Spot

233n

Dec 231

232 233)

XD

1.40 1,478 1.571.

Mar

3540 m

1.00

May

July

229!

(inancier).

Slept,

22

22.00 83.20

200 do 13

Corn, No. 2, yellow

腦

130

Bpat

132-139

103

Dec

13744-352

200 104

24

1700

24

Mar

14211

500 23.90

May

July

146)

-31

2000 m 3315

seni.

14413

9.3

Byo

24.30 24

1000 24.40

Dec

18471

200 2416

MAT

1100 23.30 13.03

800 de 2440 | Onta

23.40

EUROPE

Dec. Маг

70

Soybeans, No. 2, yellow

377

301

200 30

Spot Now,

Jors.

14.00 14.70

13 40

1320 14.79

G25 of

May

6041

2420 24016-247 22514-3h 156443714 237

USA

Barley,

Spo!

New York flour

If capital goods are to be pro- STORES, ETC. vided, the resources from which Dairy the they must come can be

made Watson by the

COTTONS dctermination to forge Textile

and spending on goods

of many kinds. Un-Nanyang services doubtedly this involves de- must prepared to go without some ini comforts and luxuries now

privation, but the nation

bo

BLAN

order to enjoy more of them in

33.89

the future.

11.04

33 00

3378

The Budget

31.03

33.00

The Budget for

1050-57 1s

3283

Cotton trading volume and

07-071% 2045- i-ix

change were as followE

Mouth

Volume

089-567+

79-81

Dec.

22,000

Mar

10,400

110-121.

May

17,300

340,000

July

10.000

147,000

Oct

29,700

117,000

0.000

78,200

500

14,300

116,000

1.380,600 bales 1050.

The market was easier with Dee Mar

spot quoted at 29-3/10 perco Total

NEW ORLEANS

of

March,

Сгр

4.30

150

July

Singapore

Stock Market

200 lb. rack

130-140n

pants, $13401

nited Prein.

WINNIPEG GRAIN PRICES

Winnipeg, Nov. 1.

Prices of grain futures closed today in cents per bushel as

ORIENT

follows:

Dec.

May

July

Singapore, Nov. 8. today Brokers

quoted

Rye

Dec

the

May

July

Opening Barley

Lintang

Rubber Co

Petruicum

Smetter

Dee.

$1.00*

B4/-

20/-

May July Flaxseed

open interest today on the EX-significant in this context, as it lollowing stock prices:

allepants to reduce expenditure Batu and avold too great Open interent | 123

pressure Lid. 508,100

on men and resources for both | Beithia 380,200

Syndicate current consumption and capiini

Consolidated development. It thus holds the

Ord. line laid down by the Sup-Traver & Neave 14d Ord.... $2.04

Fraser & Neave 7417% cum. plementary Budget

$4.00 pret Gommoni (Malaya) Limited $7.10

Shanghat Hongkong & The Budget surplus is to be

Banking Cūrp. used to finance public works. Hongkong Tin Ltd. Prices of futures closed today As these expenditures are being Lunas Rubber Estates Ltd.

Kempas Ltd. provided out of revenue, they

29 Malayan Breweries will not add further to inflation,

New Berandah

Lid reel criticism of the Budget Petaling Tin Ltd. The Is on the grounds that Govern- Brilles Hotet ment expenditure, including Shapore Cold Storage

Boun Britan Insurance Co of public works proportion khould be scaled down tunder straits Trading existing conditions, to enable Straits Steamship

significant Items in United Engineers Ord.

Wearne Bean. the nation's list of caplini, pro- cumdiv. $ exdiv. 25.00 feels to be pushed forward with Special. Bar/Apr. 25.22 greater rapidity. May/June 23.02

per lb. Prices:

No. 1, a pot

2016-2914

Settlement house term:

2214

December

20-29

407

39

Jam/Mar.

201-294 as follows;

131 July/Sept.

Apr/June

2014-28-1

Sput

2714-2742

Dee.

5

Oct-Dec.

204-27%

1044

General markets, elf bars, ports:

Mar.

Mar

02

88% December

November

2816-2113%

July

231-237

2311

January

20-231

Chat.

Dea

Estate crepe this

MST.

Estate crepe thin, Dec...

35%

Estale crepe thick

unquoted

63

AMSTERDAM

The market was steady Prices closed today in guilders cif December as

40 per kilogram,

110% followE

23 No. 1 rubber

No. 3 rubber

53 No. 3 rubber

43 No. 1 crepe

感

AD

Pan American Airways

Paramount Pictures

Parke DAVIN Co

Ponny J. C. Cu.

Motors Penn Belt Co.

Philip Morris Procter & Gamble Co. ap-Paburgh Plate, Glaun

Publicker Inquiries

lower,

Of a total 1,171 Issuen

$52 were pearing. higher.

300

New York Stock Exchange bond volume was $4,200,000,

American Stock Exchange volume was 660,000 shares,

Pero OH

Repubile Steel

Reynolds Matal

Shell Oil Co.

Saint Beg. Paper Sinclair O

Socony Mobiloti

South Puerto Rico Bugar Southern National Gas Southern Railway (Cont.)

Dow-Jones closing averages Steep Rock (Torontor.)

were

30 Industrials

20 rally

19 ullilies

65 locku

40.

Comins futura price index

Comin, apat price index

Moody's Index

Closing Prices

·Aldan Ino, Aoy. AJIM MENLO Ing.

Arters

401.18

Standard Bran

Standard Oil et Cal Standard Öll of Ind.

169.95 Sterling Drug Co.

07.56

Stokely Van Comp. Studebaker-Packard Corp.

173.62 111 & ca.

Texas Co....

Suio

100.00 Tide Water Aman. Ol

121.00 Twenty Century Fox Yum

Union Carbide)

Union Pacifle', ani

United Airongit

11.8. Line Co.

U.3. Rubber

16% 1104 Bmailing.

LIVERPOOL

33.30

33.84

33.80

34.07

53.74

33.00

33.01

32.00

the more

Price of futures closed today in pence per ib. as follows:

contract Dec/Jati,

Old

1.77 nom.

2.74 pald 2.99 form, 1.46 paid

New contract

United Press.

NEW YORK METAL FUTURES

Now York, Nov. 7 Prices of metal futures closed today in cents per 1b. follows: Lead Nov.

Doc.

Tin

Nov.

Doc.

Zino Nov. Dec.

Copper Nov.

Doc.

July/Aug. 24.50

Oct/Nov

May/June Jul/Aug.

Dec.

20414 May

2004-2 July

200 Wheat. No. 3, 1601, cents: No. 3. 14434 cents.-United Presi.

Exchange Rates

Business was done in the local unofficial exchange market

1000

Fred

$4.051

0.87

$3.00

Rubber Co.

This

31.87

morning at the following taler;—

$3.37

US. dollar per $11

6.28

Sterling notes (per £

14.71

$1.51

Australian notes (per £1

13.66

$15.25

$25.00 Singapore (Straits)

Indonesian rupiah (per 100)... 18.30 Biam Ucal (për 106)

27.30

1.00

$0.80

Chine

Significance Of Savings! London Foreign

Deo/Jan. 20.15 Mar/Apr. 25.00

to The rent objective,' is 25.30 25.00 balance the level of demand Oct/Nov. 21.00 troughout the whole economy, to cable public works to pro- cood at the pace neessary

The erabilshment

Egyptian Kamak Nov/Dec.. 00.00 BAO PAULO

Futures closings, in cruzieros per kilo were as follows;

unquoted 30.00 unquoted 28.75 unquoted 30.10

Nov,

Dec.

Mot.

May

وتريد

Oct

18.20b 10,206

In the US the average (spot 104.756 price was 23.15

Exchange

London, Nov. 1, Closing rates were: New York to Montreal and Amsterdam

Copenhagen

Spansion of inchistry. A proper runnels

balance between public work? :zrunktur. and Industrial developinent wil hijan enable Australla to achieve her Paris nailonal objectives,

If balanced development 15 coms. Sales to be, maintained, it is essential 102.00b totalled 125,914 bales United that savings be promoted, not

13.206

13.10 Press.

25.706

33.600

United Press.

LONDON METAL PRICES

London, Nov. 7. Prices of metal futures closed today in sterling per long, ton as follows:

100

London Wooftop Market

Zurich

2.7814-2.70 3/18 2,80 9/16-2.5047 10.67-10.820 139.57-133 40 19.5212-10.321

140045-11.8074

1000-30071 +

141413-14,957S 13.29-12.22IS -United Press,

only by the compulsory mothed New York Foreign

of imposing taxes to syphon

funds from private expenditure to dovernment revenue, but also by the positive method of stimulating savlägs

Excellenttheilities

Australians

Exchange

Now York, Nov. 7.`-- Closing rates were: ist la Canada build up and unofficial

tho Offers Ware, umehänged,

Arvings scuro In.

London, Nov. 7, Merino wooltops futures mar- | TAGI ket closed steady with 103 lots..

Closing prices were:

knowledge that the funds are In matu, hatus ang will be put good use in the nationti on Food

10.

Mensures to stimulate savings

and reduce consumption ex penditure, area wordhy of the

1.03 1/18 2,004.01 United' Pros.

CHICAGO LARD FUTURES

Chicago, Nov. 7.

futures closed

· Prices' of: LAND

Tullest support by all, to sheck today in cents per lb, as follows:

Form

ROUND

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