1956-11-22 — Page 9

THE CHINA MAIL, THURSDAY, NOVEMBER 22, 1956.

TRADE and

COMMERCE

Anglo-Australian Trade

Third Quarter Net Wipes Out Loss To Date:

New York, Nov. 21. TWA reversed its earlier 1956 trend to produce third quarter net carnings of $5,566,000 on a record volume of $69,420,000, up 7.8% from 1955, it

today. Last year's third quarter ings were $4,186,000.

announced

WAB

carn-

TARIFF

PLEA REJECTED

Washington, Nov. 21 The United States 'T Commission today rejected pleus for an urense on the fart rates of imported cotton

The Comunisalon recommend- in a report to the President that the present duty of 12% per cent be retained

The Commizdan found that Entlore pultow

are 1101

Stats La Nuch in present quite

pues eithes actual or relative, for emise or the valen seriously

11.

Agreement

MOST IMPORTANT

DEVELOPMENT

SINCE OTTAWA

SECTION

WORLD

HONGKONG

RUBBER

MARKETS

New York, Nov. 21.

The No. Ras rubber futures contract today closed & points lower with sules ak Ave contracts.

Deevinber

•

34.00

The rex contract closed un- changed to 20 points higher with cales of 103 contracts.

November

January

March

May

July

September

November

Standard

STOCK EXCHANGE

(From Our Correspondent)

Pago 0

WORLD COTTON SUPPLIES

REACH HIGHEST

LEVEL SINCE 1946

Washington, Nov. 21.

World cotton supplies reached their highest level since 1946 this year with an estimated 24,100,000 bales on hand on July 31, 1956, the US Department of Agriculture's Foreign Crops and ap-Markets Survey said today.

Business done on the Hong-

kong

Stock Exchange

morning sumounted

proximately $200,000.

this

Noon

34.70 quotations and the morning's

tunsactions:

34.70

34 48 34,10

33.05 Shater Buyers Seifers Sales

contract clused 6

Mrporis lower to 35 points higher Union

new

Canberra, Nov. 21. The Acting Trade Minister, Laut imported into the United William McMahen, described the

Anglo-Australian trade agreement as without doubt the most important develop- ment in Australia's overseas trade policy since the principles of reciprocal in the first mad no presentation to the preferential tariff treatment were placed on a formal basis by the Ottawa agreement of 1932.

Net for the nine months W $170.000 5 cele a dura uts $111,830,000 operating revenge compared with $5,154,000 OL $1,64 $163,433,000 a

The difference resulted from heavy losses

YPAL

quarter which bore the front of

expenses for addift

7830832-

tenance atul service fratres

Through the unvon

TWA

wandel 2,305,377

average of nearly 12 000

and 34 more than in 19

Несечна Basketgen

creusest by 309

vond 3 balen

ahead of

texty miles

Fa-

Hunter

the to

Trik:!ན་

Expr

Show The only decline-

Sagi

Freight ten miles lo

אי!

ده کالا

An ineresne,

category milenge which wil' tenth of th

se percent

Ha kik

anki

14

sty

the

repari

Than Commission Therefore

Presidend du withdrawid machte den of

The concepNIONE such articles

London Wooltop Market

London, Nuv 21 Merino wool tojen vloed vers ztały with tumover of 145 Jut Tomis Práce s pete for t

1994-1-40

Follow:

150-6

ww

Jain

Mar

M

A new polley in effect for the le mondes reduces depreciu- tion expense by increasing re- kidual values on latest type air- craft on engine The amount

of this adjustment was $2,4885,-

Don.

Sp

147-137

1.54-243

127 128

120%-127,

120 12000

125 1224

124-174

124-1242,

124-124

" ያዕዋላ "

Jan

Mo

Mas

*END OF

- Unated Prese

183-124

TODAY'S service

Wall Street Pushed

Back To Mid-February

Levels

New York, Nov. 21.

1 G2

with malcy of live contracts.

December March

May

September November

higher basis on shipmeal after

aky start,

mes steadied the market after a

Buyers alsi

4200 1.10 1800

1,10

33.20

32.70 BANKS

NK Bank

INSURANCES

Lombard

1560 LAN 10 1070

971 43

34,70) SUIPPING

34 40 Wheelcks

ពît

600

1000 2 0

33,00

Rio

1241.123

33.45

33.00

32 30

Pre-holiday covering and the K Wharf

DOCKS, ETC

Provident

13:50

LAND, ETL

HK Hotel

34

14 50

IK Land

aj

0115

anticipatod

a

Tumpeya

10

|| sharp increase in the October consumption figures over the 112,000

tons reported for Sep- wmber. The official ligures were expected to be published over the

'I'

Really

RUBBER Amalg Trum UTILITIES

Vanmar

129 1324

XU

น

int

Fight 101 220 21 46 LUKNE (N

Fleet

"2

Telephone

11

23 20 20

Da 2170

221

200 - 227

하!

37

B

STORES, ETC Dali Y

COTTONS Nanvaak

14:21 14 40

achieved in the new agreements CHICAGO GRAIN Thanksgiving holiday.

Me MeM duu, mand Australia's ;

objectives had been

Then with the manténager of

Australian foodstuf

The Wied Karaslom and the vital neegne ity

11 relieving

Australian

CATE

Platent in preferetbal margins gratalent

Banted Kinglora

11

Th

MARKET

Factury 20 other consumer stat In the spol market, however remained slow Spot No. Rss in the nonut mar- ket was quoted nominally at 34% cents a paund.

However, be

Chicago, Nov. 21. Grain futures

moved Board of higher

on the

th

under the fatto Trade today on strike un international

certainty,

Aus can Government conditions and export buy-

The ing.

Et that nitial preference

95 ataje razl W

L

redge selluk

light offerings niso pushed priers. woward, with commnlesion houses buying into most grains.

best interests of the Austruitan tronomy Provided there were sugartelint oppos tuunillaes for reiurang

the costs of import goorts, development wider trade ju albilities with other countries

The wuther Over

the art and obtaining degree

I

of winter whent belf was generally restrictive clear, with against

only forecasts of Australian com-light

flurries over some snow durtak the coming

panetares for Limelity experts,

Obvious Advantages

The margin of preference In United Kingdon goods, should perure the latter a sound sharť in Aumralia's trade. Mr

Industrial stocks were pushed back to mid- MrMahen added. February levels in a moderately active pre-holiday

session today.

Steel charts, met prost='sko 74 after

od DEVEDE

KWA roll spots

Chemicals had seene

Director

471

4 h bakin

ČESENTMOET VOenili Elec

Continental the of Del

40

44'

1243

34'

'I'It Assoctites] Chambers Manufacturers, Mr Latham Withait, take the new agreement soulat havy very obvious The previous advaniniges over Culowa agreement,

<i

Uc

uf

of

and oils turned down from early; Cantos de highs Shipbuilding sites beldama Zeb dah

best among the groups

Turnuver packed up to 2,310,-

000 shares feu 2,240,000 yes- terday.

385

Intustrial shares lost 2 19 in their verage, to 487 01. total 1,173 issttts appearing on the tape, 501 were lowCT, higher

That stocks

of shipbuilding continuing to meet companies, demand on their outlook for big Tanker business, had gains rung- ing to 5% points in American at $90. Bath Iron Works climbed 1 to 503%. New York building a point to $20.

Gen Pub Bl

indenta

Goodrich BF Goodyear Te Heyden Clemat

reshiced

The

margus preference would do ittle harm

Britain he

sald, because was xHunt for Australian industry to get its capital goods from the UK whenever possible,

DOTORS

bours.

Soybeans

advanced

(7))

une

cause of the dock werkers' strike

funfic

sheets available ex-warehouse for delivery with - 24 hours were offered up to

centa a pound.

30

SINGAPORE

The market opened lower un overseas advices and steadied before the morning session end- ed on short covering.

WOW!

INI

INDUSTRIALS Cyteent Rope

4 411 3:48 10,000 1 1 427, 1123 170

7'

The 1900 Agure Is 1,800,000 como bales higher then in 1855,

Cotton slocks have risen stendily since the postwar low of 11,800,000 bales recorded in 1951. Most of the increase has

WORLD COTTON MARKETS

New York, Nov. 21. Cotton futures today see-sawed narrowly around the previous close in quiet dealings.

from greater US pro |duction, the survey said,

While supplies on hand in the United States roto 3,300,000 bules during 1965-85 they dropped 1,800,000 bales la foreign nations.

Free World

Most free world cotton exporting rations had disposed of old-crop collon surpluses by Aug, 1, 1958, the survey saidh Stock reductions in

major cotton exporting nations ranged from 21 per cent in Brazil to 67 per cent in Mexico.

In

cotton Importing nations stocks on hand were the lowest since World War II-4,000,000 boles,

three or four months

for foreign

about

supply

Chief Interest centred In the cotton mills, 200 14 29 40

(nearby deliveries. Traders evened j 2000 23 up accounts before the thanks-

22 giving holiday tomorrow and in advance of rst December notice. day on Monday,

Closing prices ruled off 4 te

Cotton

suppllen o hund in belloved Communist nations is

to have risen, although informu- tion an agricultural conditions

aroas is dimeult

in those

up 11 points. The market opened obtain, the survey said,

up

to off 1 point. New Orleans

closed up to 18 pts.

The New York und New Oricana

New York Sugar exchang

Market

futures

Now York, Nov. 21 World No

4 sugar closed today 10 points higher to 1 points lower with sales ol 603 contructs.

of

Uncertainties

to

cotton exchanges will j The Soviet Union' probably remain closed until Friday has less cotton stocks on hand morning.

how due to a nine per cent drop In addition to outright liquida-in cotton production in 1965-50 lion in December through spot over the previous year. How. Interests,

fair amount ever, stocks in China may havo

копе involving

up As a result of Д of DecemÈCT for favourable harvest there. March and May and between

Stock reductions in extra-long- March and Muy contracts,

slapfe-cotton-producing nations ranged from 18 per cent in

to

40 p

cent in Sudan. The uncertain political situation in Egypt, primo producer of long staple cotton, has made demand grow In other producing nations.— United Press.

Open

contracts in December of the start of trading today totalled 108,100 bales. The cer lifeated stock remained at 3,102 bales,

Volutne Open interest

24,400 105,100 18,700 272,700 14,300

JU

At 104 cent-level there some profit-taking which were fairly well absorbed. The mur ket closed off bit from best of the day.

a

the

よろ

Nu

Future closings were: ubber per tu.

Month

Dec.

De

I {\s !, +] [x} ?,

Mar.

net. Feb

10236-103

unquoted

100 15-101 07-08

The domestic No. 4 futures clored 2 to 7 points July Jower with sales of 310 trnets.

sugur May

303.200 12,000 184,000

con-

Oct.

14.300 125,000

Dec.

10,300

74.700

Mar.

вон

16,000

104th-101 010-87

May

5:00

3,000

Total

96,300 1,210,100 bales NEW YORK

strong of market and Armness in grains.

Exporters Bid aly today purchased 1,500,000 bushels of wheat, an estimated US durum 1,000,000 bushels of US

corn were sold to the Continent and United Kingdom, while Japan bought a large quantity of Pucifle const wheat,

Wheat closed off 1 to up 1% cents, suybeans up 11⁄2 cents,

Pries per bushel in cents:

Wheat. No. 2, red

Spot

T 24000 2347, (

Max

Sent

Ne, 2 rubber per In Dec. No. 3 rubber ber th. Dee. No. 4 rutiber per 1. Dec. Sput rubber unbed Blanket crepe No. 1 pale crepe

102.5-1073

The unselled dockworkers strike and an netive demand for world raws closed the March LONDON

contract on a note of strength, Jower opening. Later The market was barely steady | after with spol quoted at 31 penice months also recovered from the

Prices: per 11.

lows in fa; e of heavy profit- taking and hedge selling.

اری و یا کر بار کی رائے

Qui/Dee

General makets, elf" basla, pozik,

AMSTERDAM

The market was quiet today. Pries closed in guilders per 12.16 kilogram, cit Dec, as follows:

Prices of futures closed today

as follows!

Spot

Dre.

Mar

May

July

tons

Oct

Dev

Mar

May

News of the 100.000 boost in the 1956 import quotus spurted pre-holiday liquidation domestic and hedging in the

Futures:

Contract No. 4 (world)

continel.

Peru

the

Wherever

you're going...

34,000

24.42-43

34.33-34

EUROPE

34.17-10

33,04

33 34

33.40

USA

NEW ORLEANS

Prices of futures closed today

No. He ment

31-34

Settlement Juke Lerou

Occ

314-31

20 Mur

20-30

Apr June

299,-20,

Galan Boner Sugar

Alkal

232

29-201

2831-2691

| Dow thenogata

to

Mar

Dupont dę. Nemunera

ป

Buy

Fastay on Kolak

01

July

23 Pass Natanna.

240p

2413-241 201-239

225-1.

Nov. 13

309-31

30-304

Jun.

ราย

Krie Robronch

Of a

Fandy Parades ...

Corn, No. 2, yellow

Estate

reje

Mist.

as follows:

10

thie Dee

37

May

Spot

33.50

Spot

Foja Mor

the Dee

40

July

Dec

34,48

General Panda,

411

1

General Motola

301

43 mutually

tinueri.

14.

general result seemed

nexeptable, he The margin of ference in favour of UK Hoods should secure Britain sound

Der

Sept

4.30

Max.

34.24

Mar

1424-3

May

34.30

J45b

July

14014

1429-2%

Spot - cents per Ri Tob

Cuba

July

34.20

ORIENT

425

Oct

39.50

Dec

Ryc

Contract No. 0

Mar

30.32

14012

May

33.42

Mar

Mar.

2 84

Dais

No. Irubber

2.93 not

May

B3-04

Dec

CO-TUT,

No

2 rubber

2,00

July

5.00

"

Mar.

Nu

3 rubber

2.88

Sepil

3.AD

Soybeans, No. 2, yellow

Sput Nov

Nu.

crepe

J51 paid

Spot-rents, per

250-257B

-United PreKS,

3.77

1b. were as follows:

(0)

ROUND

United Prem,

Old contract

Dee./Jan.

Mar/Apr.

24.58 20.10

THE

Jan,

2004-201

Mar

202-201

May

July

New contract

Barley

Spot

May/Sting July/Aug. Oct/Nov. Dec./Jan. Mar/Apr. May/June

25.70 23.40 24.13 27,50

New York Bou

200 lb. sack

July/Aug. Oct/Nov.

Egyptian Karnak Nov/Dec.

20.73 23.63 40.00

SAO PAULO

Hal

Hoodake Money

Tolpad Ster: Interchemical dorps

f Ship-usiness

Ett Marta Interneta mad Nickel International Paper

In steels, Lukens, a recent

10 points pensation, fell 152% on profit-taking.

Du Pont, selling ex-dividend, was down more than 2 at one time, touching a low at $170 and then came back to $178, off * лег

In olla Skelly. Seaboard, Honolulu

and Cilles

Service rose 1% to 2% polnis, Others moved narrowly.

Now

York Stock Exchange bond volume was $5,300,000.

American Stock Exchange volume was 990,000 shares.

Dow-Jones closing averages

were:

30 duals

Lekheed Aircraft

Minnesla Mining

21

180

1324

2003

30

best Australia's

share in Australia's Inde Du

the other hand, it seems that the Government has adroitly

pro- tected Australian Industries and 37% succeeded in maintaining the

possible

exporis

tems for Great 43 Britain," he added-China Mall

Special.

NEW YORK METAL

10

FUTURES

10200

1850),

108.00b

13.34

13.35)

ני70

330-143

$13.000

LIVERPOOL

Future closings, in peace per

53/94 May July

20/td

Fraser & Neave Ltd, Ord.

$2.20

Fraser Neave 7%

cum.

pret.

United Preme,

Gommone

(Malaya) Limited

$4.09 $2.02

Hongkong & Shanghai Banking

Corp.

$845

Hongkong T Li

8/71

Kempas Lid. .......

$2.07

Lurus Rubber Estates Ltd. 0.76

Malayon Brewerica

$3.00

Now Berandah Habber C

Petaling Tin Lad.

#3 35

Names Potel

$2.50

Singapore Cold Storage

$1.62+

South British Insurance Co.

Ltd.

F4330

Straits Trading

$25.00

Steamship

$18.28

United Engineers 'Ord.

$5.70

Wearme Bro undiv.-China

⚫exdly. Special.

$3.00.

Mall

a

New York, Nov. 21. Prices of metal futures closed bufday in cents per lb. as follows:

33-173

LONDON METAL

PRICES

London, Nov. 21. Prices of metals closed today

4415 in sterling per long ton as follows:

CHICAGO LARD

FUTURES

Chicago, Nov. 21,

·Prices of Hard fixtures closed today in cents per 'it as follows:

2304-3%

United Pres

New York Foreign Exchange

New York, Nov. 21.

London Foreign

Exchange

London, Nov, 21. Closing rates were;

Now York

Montreal Arnsterdarlı Brusela Copenhagen

Frankfurt

2.781-278 8/15 2.00-2,68 1/16 10.00-10.00T 139.0-130.60

19.34-10.3414

11.7036-11.7016 10,94%-19.95 90314-00234 14.41-144112 12.22-12.22

Others were unchanged

London Stocks

Take Beating

London, Nov. 21.

Prices tumbled again today on the London Stock Exchange -a continuation of the decline

NY ex-duty)

Singapore

Stock Market

Future closings, in cruzeiros per kilogram, cif December as

Singapore, Nov. 22.

today Brokra

quoted the following stock prices:

Opening | follows:

#5-77 Deo.

Batu Lintang Rubber Co. Ltd. British Borneo Petroleum

Syndicate

Consolidated Tin Smcilara

Ord.

$2.00

yesterday when the Government announced it Exchange Rates

would ration petrol.

Cİ

Busines was done in the local umofficial exchange market this morning at the following rates:--

3.47 LU.S. dollar (per $1) MA

sterling notes:iper £1), Australian notes (per £1). Indonesian rupiah

(per 100) slam_tical: (per 100) Bugsporw (Straits)

Every section met sailing, £68. Fall of another even the shipping shares which would bring it down to its all had been recent favourites. time historical low of £68%%%. There lost part of their recent Industrials were down around rises in freight a shillingléd by Ford Motors, andhs despite

Rolk-Royce and Associatod Olis took a a bad beating. Electrics, Sucz Conal dropped

| rates, mod

NAMESAKES

18.00

Royal Dutch skidded","more | another. £% to £134. than 17.

shillings Brillan In the foreign bond section Petroleumi gave up more than & Young Loan met foly: demand; Answorek Jaunt, 2. Poétical, +2773675-77 | Stalllings; Sixir nearty after while the Japanese, non 3 Horse Edmonton, 6 Wedd

Brilish: Governmonte, lepuce patented 1930s added: 41. Dawes litg, 6 Ciltzan, 7-Bell, 8 Cowper, ware pressed for, male, War Loan non-agsonted dropped ? Æ 1⁄4- 9: Austin, 10 Renown..

shillings, 40 pincotto | United Press.

Jon Chiom.

24.03

United Press.

foll

Mar

unquoted 30.30 unquoted 30.00 unquoted

In the US the average price was unavailable.--United Press.

WORLD

You can fly there on the world's most- experienced airline

For reservations, call your travel agent or Alexandra House, Phone 37031, Hong Kong Peninsula Hotel,

Phone 64005, Kowloon

Pan American #veik Airways, Inn., Interperamné dn the State of New York, D. Bali, wish Makhali dvokátky

PAN AMERICAN

Die Stamping

The South China Morning Post; Printing Department is equipped with modern 'die-stamping facilities.

REGIMENTAL SOCIETY and CLUB

CRESTS & EMBLEMS.

TRADE MARKS.

FAMILY COATS OF ARMS.

and MONOGRAMS,

atc., etc.

Call and inspect our samples

Orders accepted, for Steel Dies

and Copper Plates.

SOUTH CHINA, MORNING POST. LTD.

Wyndham Street, Telephone 20002

to

of Tel & Pel

John-Manville Chi

Koss Power & Light

Kennerott upper

Liggett Movers Tob Da

39 1294 617

M

Loews Incorp

19!

Lune tu t'ement Co

Louisville & Nashville i

F

Lowenalejn de Sóna

221.

Mesata from Com.

51

Mission Development

Mannanie Cheuneo) Co

M

Montgomery Ward

412

Motorola Tie

Notional Casti Reg.

| National Dairy Prod

40

##744

National Leaci

Lead Nov.

National Steel Corp.

72

Dec.

New York Central

31

Tin

Nov

Canada

1.03 01/64

Oslo

Olin Mathieson

49

Drs.

100 b

407,01

Ou Elevator

4115

Zine

Nov

England Egypt

2.58-2.00

F'aris

163.11

Owen-11:nois Glass

11

Dec.

Argentina

3.07

.0290

Stockholm

Zurich

uithities

06.26

Pacific Gas & Nice

Cupper Nov.

22.70b

Others were unchanged

G3 locks

100:52

Pan American Airway

Dec.

14

32.70b

United Press.

40 bond.

10.47

Paramount Pictures

20

United Prem.

Coins futurs price wontex

166.73

Parke Davis Co.

Co m. price index

106.07

eany . C. Co

0234

Ato, y's index

120,60

Penn, Set Co

2014

Philip Morris

4156

Closing Prices

Procter & Gamble Co.

4012

Pittsburgh Plate Gloss

154

Publicker Industries

Pure O、、.

44

Alden Inc. Acy,

#1772

Radio Corporation

34

Allied Chemicals

2014

Republia Steel

Alijed Mill Ino.

30

Reynolds Metal

01

Allis Chalmers

223

Shelf Of Co,...

American Airline

2201

Baint Reg. "Poper

American Cable de Radio Corp.

Sinclair ....

Boy

American Cyanamide Co.

7256

Socony Moblinti

51

Buyers Bellors

Amer, & Forgu, Power

South Puerto Rico Sugar

Am. Mach. & Fury,

3713

Southern National Gay

PIA Junonih

34 T spot

84)

B25

BZU

American Teb. ""

American Metal... American Smelling Am. Sugar Hef. .... American Tel & Tel

Anaconda Copper. Armco Steel Armour t Mias Cons. Mining Baldwin-Luna¬lism. Daimore & Ohio

Bendix Aviation Corp. Benguet Corte, ... Bethlehem Steel

Boeing Atpinne Borden (The) Co.

Burrough Add Machine

Canadian Pacilio R

Caso (3. L.) Co.

Cat Tractor

Calanoes Corp.

6. L. T Financial Corp.

Chrysler Motors

Climax Molybobrann

Colgate-Palmolive Co.

Standant Oil of Ind.

Blendard Oil of. NJ Sterling Drug Co.

Btokely-Van Camp

Studebaker-Packard Coty.

1314 Texas Co.

Swift & Co,

Tide Water Assn. Cil

50 Twenty Century Fox Film

17412

Union Carbide.

Union Pacific Railway

59 United Argraft

U.S. Foll "D"

-9894.8. Gypsum 31.B. Line Co...

13 US. Hulber

US Smelling,

SUB. Steel

| Warner Bros.-

Westinghouse Klectrio

Woolw

Pulp & Paper

249

Southern Railway (Com.)

801

Sleep Bock (Torontoex.),

107

Standard Brands

3814

107

Standard Oil of Cal.

2011-month

Lead and half No

Copper spot

272

213

+

Zina 2nd half Nov,

1034

Feb.

Feb,

1000

D6

United Press.

17