THE CHINA MAIL, WEDNESDAY, NOVEMBER 14, 1956.
Page
TRADE
apncl
COMMERCE SECTION
London Ignores Outlook In New Zealand
Outside
Influences
London, Nov. 13.
The London Stock Ex- change closed the account
today with
dull session.
Apparently n
an
irregular,
}
attention stan || pald Mr Maenllan's speech on the economic situation NON <lid the unexpected jump in Octo- ber exportn
Wall Street's overnight rise have
fluence.
my
Buyers slayed out except for profesional short euvering.
Juristelike drifted lower with Huits-Royce down 2
Associate Ehetrieni Industries down I shilling 0 pouce and numerous others down a shilling or 1 pence,
were
OILS ACTIVE Oila
by the the most petive section, Royal Dutch was in deantund and Bnally closed with a Katt ef y sterling jel 804. Canadian Eagle, registered and Desi
BUSINESS CONDITIONS HONG
REMAINED ACTIVE
OVER PAST MONTHS
Trade and business conditions have remained active in New Zealand in recent months, but some unevenness has deve- loped in response to current disinflationary policies, according to the Australia and New Zealand Bank October Survey.
HONGKONG STOCK EXCHANGE
(From Our Correspondent),
Business done on the Hong-
UK Woollen Yarn For Japan
r
Iradford, Nov. 13. Woollen yon and cloth ex- porters here were told today that Japan has agreed to issue Import licences to the value of
£700,000 for woollen
kong Stock Exchange this morn-wersted yarns cod tissues. 310,000 Noon
ing amounted to approximately quotations and the morning's transactioun:
Buyers SeBary
shares
JANKS
By July 700, his sailsfaction that the position SHIPPING
10
Attentions has been directed, to the labour force, been lower
dveling in Steady
than elsewhere, and It has been fik Bank Founder of registered employ- Į associated with "I general East Anla ment
vicatele, since the mid-dveline in overtime work.
INSURANCES The statier peak.
the Minister for
May | Unton XD Labour expressed Lombard Bad T
failen representing a decline of
was quite healthy, but said that! Wheelocks unpred will lie the possibility of providing pocks. previous July Unit Apri us employment of a developmental K. Wharf decline had not been matched character in certain centres was
Duck by ay
notable change in the being examined. females of muted hemploy !
thereafter unemploy- pominal
i1
Shux
were strong with closing prices up 2 shillings of 1 shilling pekee. Bul British Petrole
Just 2 shillings 3
03
20.
Burma skiing 6 prae
Suez Canal Stuur
onl
{
sterior to 583⁄4; sterðlag
Amic
die ferreck.
favourite.
13-15, 10 sterling
5 shilling. For
In the German sector, there was ceiling of meer.tra bonds, Bay with the Dawes and Yours Instier down 1 11% cling
COR
זיו
se fran
about 50, which
**
size of
Janga
To same extent the problem WILS & MOAKOmni one, but also it is to be expected that
current pulicies for dumpening
down
1306
Balen
1000
3 1303
242
$60
43%
0.74 8.03 1.25
325
123
00
Provident LAND, ETC. IK Hotel.
HK Land
444 13,70
14.70 19.00
120 14 70
03
200021
37" 12
10. 2
3:20 4 021.
30 10
130
1000
1,40 140
5000 140
"ITAL
Jovel bestormal in recent years, to the rate of expansion, and for Humphrey 500 in July.
seeking consolidation,
would Realty
AUDDER ecomparison with noted ; Hive rise to some adjustment in Ami. XD employm til varancies, and with
employment. To the extent that this will provide greater the total Aabour: farer, at $10,000, the employment in Industries best Sungala for unemployment is small, bu ile to meet competition from economy will be Ty esfupnrison with ditions of
The con el, and to the extent Youmati emples ment
that vueuncles are accompanied have
come to be accepted as
a reduction of labour turn- nemal since the war, it was of
itx aufficient importance to warrant
recent high levels, costs can be reduced and further inquiry
Most of
Industry placed un a were, was confined to the Aurkland
stronger competitive basis. down district, where Total employ-
ment vacaneles have, in relation |
were
white The nou-ngsented down my le sterling Japanese 1970' non-asented sterling but this was excVp- tional; most of Bhem were un- changed.
British
Governmenta quiet with Old Consol A stryding-United Press
which
WALL STREET IRREGULAR
IN LAST MINUTES
New York, Nov. 13.
A handful of leading stocks backed down in the last few minutes of trading today to bring some Irregularity into the higher, more active market.
+3
{wrdth"4 }
A few oil, chemical and autor stocks lost a point or more late dealings w leave the indus trial average 0.30 lower on tho day, compared with gain of
more than 2 points at one time. Rails and utilities haut small average gains
Steels, melais, alrernfls, ship building shares. rubbers, the
rails and utilities all held well, however, and of a total 1.158 issues traded, 507 were higher on the day only 308 lower.
Trading picked up to 2,140,000 shares from 1,000,000 yesterday.
Loues apixared in oils in Jersey Standard, Standard Indiana, Texas Ca, and Socony
41
of
Financial Corp Maidat ik Coy to Motors Car Molybdenitra Colgate Palmolive Co Carotive Detal Credit Valitse malli Beec cantordal Oil of Del Consolabates Person
Avadhie de
Crown Zelte buch C'm
Alan Sugar Dinmoral Alkali Dow thenateals Dupened. Nemours Eartman Kodak
Ft Fame Natul as Erie Ita
Family Flaner Corp Ford Moto
General Electric General Fooda point. General Motors however held a gain Shell
Mob, all of about Amerudia
of 5% points at 180%y.
Pony 2% to $854 and Continen-
tai 21⁄2 lo $120.
Lukens Pace Steels
yesterday, again
122
$2
14
40
.
724
12x
47
40
447
120
35%
44
20
14
1920
over
the
Excess Investment
UTILITIES Tran
and
The official notices described this "an interim measure" ponding the complction ог new Anglo-Japanese trade and payments agreement.
Tolks in a new Inde anti paymenta agreement storted here on October 1 and yester- day official sources said there has been little headway so far and that a meeting had been ineranged for this week.
The existing trade and pay- ments
agreement which WIN
230 14.40 due to expire on October 3 has been extended to November 30. -Unlied Press,
50070 NT 1 424
12200140 3000 À P
12.000 e
175340
22
101
22.70 1000 22
103
Light (0)
231
23 70
1700 23 70
Dr 23,00
100
23.70
C
Light (N 23 10 20 30
Alector
300
23.20
it
2 10
204, 20 19
28330 40 100039 30
Teleptione
10. (N)
INDUSTRIALS
Cement Rope
23.90 22,00
30%
N
400 23.90
ATE,
34.40 14.30
22314.30 1000 14.50
13 40 13.50
4 4.20
7
In some enses. 10, fl appears STORES, ETC.
the buoyant inflationary Dairy
thut
conditions of recent years have Watson encouraged plans for expansion COTTONS of plant and
equipment which Textile have required revidon
in the Nanyang light
INVESTMENTA actualities, BK. & F.E by firms and Inval. wals in buildings, plant. and other capital works reached! pew record
levels of 15%
of marke Investment
individuals
gross
ended
of
Exchange Rates
1
US COTTON
EXPORT
PROGRAMME
Washington, Nov. 13. Secretary of Agriculture Mr E. Taft Benson ot THEW'S conference today said that the United States has no intention of dis- continuing Its programme Biimulate export of competitiv©
colian prices.
at
He said the agriculture Department
gratled with the results of the cotton export programine thus far and will continuo it with the object of A better halange In supply and demand for cotton,
"There by Do TERBOT why we should drug
CELE fces,"
Press.
he mid.—United
CHICAGO GRAIN MARKET
Chicago, Nov. 13. Grain futures
were ir. regular
on the Board of
New York Sugar Trade today during fairly
Market
New York, Nov. 13 The world No, 4 sugar futures today closed 8 to 8 points higher
with sales of 474 contracts.
Sugar
'active dealings.
Soybeans
two
1
RUBBER INTERESTS IN TUSSLE OVER STOCKPILE
New York, Nov. 13.
A tussle is developing between rubber manufacturers and rubber importers over the manufacturers' plan to increase the amount of stockpiled rubber being rotated and to delay the delivery period for civilian rubber to replace it.
The Journal of Commerce of New York, a usually formed businces
well In- newspaper,
has carried despatch from ita Washington correspondent that top administration officials were getting ready to
approve the manufacturers' proposal because of the Middle East conflict.
22
Rubber Importers here who дго members of the QSA Rubber Advisory Committee thereupon ront off
starp protest to the GSA agalust any Tempering with current stock-
procedures,
They said that shipments would he only temporary and did not warrant any
tle
any delay
government step which would Interfere
WORLD
RUBBER MARKETS
New York, Nov. 13. The No. 1 Ras rubber futures contrnet today etosed 3 point lower with rates of four con tract.
34.55 ex contrnet load 10 to with sales of
Dec.
The
with
33 points higher
orderly trade processes,
344 contracts,
Nov
14.10
Jan.
34,20
Only Temporary
1
Ma
34.40
Mar
34.40
July
331,60
The Business Services Administration IN n
Aut Defence und
33.70
Nov.
32.00
Standard ontruct closed 5
group.
As
It said that any ship- ment
delay would be only temporary, not to be felt before! December, if then.
Dec.
Mar.
May
July
Sept
Nov
our
24.60
31.10
33.80
33.40
13.10
32.60
interest
A moderate buying from Akron factories, and firm- ness of the foreign markets over holiday, shaped The terminal market trend. Reports of only shipment
prices, and
did better thao report appeared to substantiate points Jower to 35 points higher
oll the potion of the rubber trade with no sales reported. the grains on strength in market. Although prices Bnished lower than the day's highs, they did not take the same wheat and corn. The domestic No. 0
Wheat was two-sided during
The futures closed unchanged to the early part of
Rubber Manufacturers' the Bession
Association, however, contends point higher with sales of six with rallies of slightly less than contracts..
that the situation in the Middle a cent being followed by de.
Enst warrants further (X)- elines that carried prices off 10 sideration Strength ur world futures re-
of the industry flected Wall Street commission
as much as
centa under
proposal which was rejected in best levels. house and trade
September when buying in-
the Middle The sell-off
Was attributed
Ensl fluenced by firmness in and the improving world statisti UN troops, although hedging to Egypt's willingness to admit
waned. cal position in sugar, plus con.
by outside Interests against Reliable trade sources said that tinuing Middle East uncertan-small
in increases producer thero will be a meeting of the Futures:
sales of cash wheat was also a Government's Rubber Advisory factor.
Committee with GSA, after business which government inter-agency, 3.48 helped bolster the wheat posi- macetings will take place. 3.20 tion somewhat during later meeting of the National Security Council was expected to take fina)
raws
Perkling export
ties.
--
70 10.20
3000 70
Contract No. 4 (World)
March May July
September
3.42 702
(rade.
Spolvents per lb. fob Cuba;
3.32
Contract No. G
0.04
0.04
une
6.00
6.73
cent;
soybeans of
% to 2 that
3.22
cents.
lb. clf NY
Prices per buchel in cents: Wheat. No. 2, red
237n
Dec. 234 230
2387-237
the national expenditure in March. Government works
expenditure further 94
rufticlal very high level of invest
year
necounted for
ព
Business
done
Was
the local excitange marke this March morning at the following rates:- May U.S dollar
(per $15
4.30 Jut Sterling notes iper £1) In
18.07 September Australian natos (per 1}....
1271 November Indonesian rupiah (per 100) 1896 Spot-(cants per Siam Hemd (per 1001
21.60
ex-duty. Singapore (Straita)
100
Thi ment, which has not been matched
by
increases voluntary savings, has been a material factor in stimulating Inflationary pressures
and swelling demands for imports,
Insofar
15 new plant And equipment has enabled Dione
efficient and cheaper production
to be achieved. Its contribution
is of particular
importance in
prevent circumstances,
but, overall, kunc retrenchment has become
necessary. Housing 37% expenditure, which lust
23
year than represented more
બી irth of total investment, is already stxd under official review, Industry's plans are also being revised as the emphasis shifts from 301 expansion to consolidation,
C)
40%!
1816
arising from
on The Bri
Getty
Glidden Cu
4047
JA
P Q
7412 Re-adjustments
Goodyear Tir Heyden Choristernal
70-%
Buch changes, designed
Hestake Maning Co [Ingersoll-Rand
]”
production to
freedom
Lukens, 14 91% point gainer Inland Ste Co
pacer steelers Machines
List Harvestey of 6% to $120%. International Nickel Bethlehem rose 1% to $160 andermutal Paper
and TubeInt'l Tel & ma
A
with rise
Youngstown Sheet
2% to $103, ex-dividend,
John-Manvaller C
Kenneroit Cor
US Sice, fractionally higher,gett Meyers Tob. Cn
was the day's most netive issue,
Luckleed Aneral.. Loew's loom p
Ous, the pace-setters yesterday, Lone Star Cenwat to. again made up a good portion Leulsville & Nashvite R of the
Lowenstein & Sous Bellve list,
Merabi fit, Corp., Gentral Dynamics Now, Boe-Minnese Mining
American Aviation Miaston Development Curtiss-Wright followed Monsanto hemigal C
Munigortutry Ward
ing, North
US Steel in the tives. Gains Motorola The
in the group generally ranged National Cash Reg." around
point, Unitett
11⁄2 to $87%.
National Dauty Prod rose National Lead
National Sert Comp New York Cenkal
im Muthteson Oil Elevat Owen-llinois Glass Pasille Gas & Elec. Pan Amorlean Airways Paramount Pictures
Among chemicals, Allied rose 1% to $94 ex-dividend, while Du Pont lost 1% to $190.
New York Stock Exchange: bond volume was $4,720,000.
American Stock Exchango volume wrs 870,000 shat “s,
Dow Jones closing
were:
20 l
averages
Parke Davis Co.
Penny J. C Co.
Penn. Bali Co.
Philip Morris
Procter & Gamble Co. Pittburgh Plate Glass Publicker Industries
Pure Oil******* Radio Corporation
201
1062
To
31
AUD
133
3416
יכנן
-United Press.
New York Cotton
Futures
Increase Gains
New York, Nov. 13.
Cotton futures today opened slightly higher
to and kept widening the gain for the rest of the streamline output and a.just session.
the market, do
not in themselves indicate that
for importa is in-
After 0
compatible with high levels of $1.55 a bale, day
Ing
employment. Rather they are
E
crisis appeared to bave
moderate
offerings at Arm
continued
Middle East uncertainties, were other background factory.
Reported
sales in the shipment market included a small tonnage of sheets at 33% for Novembor shipment, Spot No. 1 Ras was quoted qt 34% cents a pound
SINGAPORE
The market was very steady on overseas advices and it con Unued steady most of the after- noon Futures:
proposal No, 1 rubber per lb.
Nov. Dec.
Nows that
The Austria purchased place soon to make 800,000 bushels of US corn decision on this problem at the last alght also helped stabilise highest govemment level, corn futures,
This source said he belleved
the industry would be rejected and change in the stockpiling policy instituted.
Wheat closed off % 10
Corn, No. 2, yellow
Changed Situation
No, rubber per lb. Now,
no
unquoted 103-10034
Jan
103-10315
102-104
No. 3 rubber pen 1b. Nov.
100-100
Spot rubber obaled
101-100%
Blanket crepe
124-120
LONDON
No, rubber per lb. Nov. 17.08
No. 1 pale crepe
03-18
Other sources closed 10 the ODM said that there were strong indications from the ODM lately, when the war in Egypt Arm with spot quoted at 30%
was at force intensity, that there would be quick approvat of the industry proposal.
The market was easier after
pence. Prices;
Settlemen house term
Dec.
July/Sent.
Oct/Dec.
303-31
NAMESAKES
AMSTERDAM
The market was uncertain.
Prices closed today in gulidera ***
Answers:-1 Bombard, 2 Dear, per kilogram, cit Dec, as follows: 3 Emperor, 4 Pastoral & Sym- No. 1 rubber
phony, 8 Concert, 7 Violin, 8 Compose, ↑ Conduct.
293 pata
rubber
No. 3 rubber
Но 1 стеро
2.00 2.80 nom. J.54
United Prem
14321
14611-3
153) 157-4-150
No. 1
TA-
Soybeans, No. 2, yellow
However, tho rubber trade the protest and the change in military situation In Egypt with the onset of a virtual censtfire had noticeably altered 2511an
these situation, 2015-2021 the 21534-236-2 rald-China Mail Speclul.
Jan./Mar.
Apt. June
General markets, elf barris
sources
Nov. Dec. Jan.
25832-259
29916-200 2581
Бро
130-140
mabirnum
Tise of trader realis..
and hedge selling shaved part of the grin,
but the list
The certificated stock remain- ed at, 3,359 bales.
Month
New York flour
200 t, ack
Volume Open interest
$13.40m United Pr0209. WINNIPEG GRAIN FRICES
Dec.
Mor.
360,700
May
347,800
July
0,100 147,500
Oct.
8400
124300
Dec.
Mer
200 14,700
Winnipeg, Nov. 13. Prices of grain futures closed today in cents per
bushel an follows:
+
Oats,
Uniform firmness reflected a combination
of factors, traders Bald Foremost Influences in- cluded:
Toto!
38,000 1,315,200 baien
Doc.
NEW YORK
May
July
Rye
Low
1. The of
POW
sales;
Prices of futures closed today as follows: expanding rate
Spot cotton export December
Dec
138
May
July
31.45
Barley
31.20
34.18
Dec.
and
34.29-21
May
Z.
34.14
July
33.41-42 Fluxweed
33.40
Dec.
33.36
July
NEW ORLEANS
a reaction to keener competitivo stili closed up 11 to 22 points.
conditions.
do
They
never- theless, call for the greatest
The market opened up to vigilance Lo ensure that
10 points. Now the
Oricans closed pressure of current polletes is up 18 to 19 points.
[問]
91
not pushed too far.
27
Other Indicators
38xd
301%
Apart from these develop- nrents in the field of employ- ment
there have. boen notable aspects of recent trends,
retali Figures for
prices
sales in the June quarter were little above those for the corresponding period of the previous year, bul for such
2015 items as household appliances,
March May Expected impact of July
October the soll bank In cutting December next year's production;
March
*
3. Subsidence of the teecht persistent spot
42400 226,800
18,100
10/200
13,300
Prices of futures closed todny
4044 furnishings and hardware, sales house outright selling in the as follows:
04
13 declined.
4211⁄2 stocken
OF
47
In general, emple Decomber delivery a
commoditiescent level. most appear to have.bers built up and, under pressure of credit 44 restrictions, some scaling down
is sought.
43
ALIC
101
44
the 34 Spot
J
re-
LIVERPOOL
33.50
34.17
33.38
May
1031)
100
2009-15
Wheat No. 3, 100%; No. 6, 1444 cents-United Press.
London Foreign
Exchange
London, Nov. 13,
2.78147,78.0/16 2.0416-2.09.
Closing rates were: New York
December March Instead, spot interests
today July May were buyers of March and May October against redt sed sales of Degem- December
March bar. With the pressure Imports have been running loved, spot December went bo at a lower level than in the yond the 34.20 cent level getting provious year, although they close to the penson's high made 50% have
* Futuro closings, In pence per | Montesal not falles as much as on Oct. 1 July and new crop lb, were as follows: desired, and could result in March' contracts reached sen- Old contract small
reduction, in overseasonal highs,
Doo/3an. rtscives this
* MAP/ADT, year unless the
"May/June now overson loan mentioned. In
July/Aug. the Budget comes to
Oct Nov,
30 industrials
434.60
150.11
15 utilities
07.17
da stocks
172.05
40 bonda
149
Republic Bleel
Comm. future price index.
104.31
Reynolds Metal
Comite spot price index
10.15
Royal Dutch
Moody's Index
Ritell Oll Co.
Saint Reg. Paper
Closing Prices
Hintate Of
Socony Mobilai
Alden Inc. Acy.
# 18
Allied Milla Inc.
Allla Chalmers
American Airline ...
2012
2
400
American Com
41
Standard Oil of N.J.
American Cranamide Co.
583
Amer. & Furgn, Tower ..
30 Studebaker-Packard Corp
Allied Chemicals
American Cable & Radio Corp.
Am Mach. & "F'dry
American Motst
American Smalting Am,Bugar Hof.
· American Taj, dz Tel.
Ameriran Tob. "a". Anaconda Capper Arerios: Blei
Als Con, Mining Enchirid-Lim-Jahr. - Hattimore & Ohio Tajnidbe: Aviation,
Bouth Fuerto Rico Sugar Southern National.Gan
Dexd Southern Railway (Con)
301Steep Rock (Torontoex.)
Standard trands
Standard all of
Standard Oil of Ind
Sterling Drug Co.
19Stokely Van Camp.
291 Bwith & Co.
raft Toon Co.
100
Tide Water Acan, Qit
178Twenty Century Fox Filin
73) Union Carbide ...........
Bonton Pacific Railway
orts | United Aireraft
18.8. Fol1; “B”-
US. Gypsum 35.8. Line Co. 12% 18. Rubber
in-
The Now York Cotton EX- ut change estimated US raw cot- Small savings have
shown ton exports so far. ulls schon, marked improvement, and the at 1,339,992 Bales compared over-subscription of the recent with only 430,308 balos last scar
loan further Government cleaten reater, willingness
Statisticians reminded that save in the moro, sisblo ditions which............. have„ ben since April the Government has wold 5,248,318 bales out of aur- achieved.
pie plus, under the mport "promo- neral there cause for tion programme. In addition, Safwotion in results achieved another rullion bales sold under the special programine operated
to
to con-
the
Copenhageni
139.00-139,63
19.335-192 11.70-11.701L
1754-1783 963-00337
Brunnels
Frankfurt
23,80
Milan
Paria
28,40
Stockholma
23.10
Zurich
New Face
Others were unchanged."
· Dec/Jan.
20,78"
Mar/Apr.
26.25
May/June July/Aug Det/Kov Egyptian Kazak
Nov/Dec.
00.00
SAO PAULO:
closings, in- cruzeiros vere as followź:.
umüllied Prem,
New York Foreign
Exchange
New York, Nov 13. Closing rates were: kriget
England" Onofficial
Beethoven.
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