THE CHINA MAIL, TUESDAY, DECEMBER 4, 1956.
TRADE and
COMMERCE SECTION
FULL SUPPORT FOR EUROPEAN | Dollar
FREE TRADE BY BRITAIN
From RONALD BOXALL
London, Dec. 3.
HONGKONG
STOCK EXCHANGE
(From Our Correspondent)
Hongkong Stock Exchange noon quotations and the mein
BhACTE Buyers BeUers Balti
DANKS
The British Government has given its full support to the proposal to establish a system of tariff free trade in Western Europe. This decision means that it willing's transactio take part in negotiations which will begin shortly and continue through most of next Bek year that it is hoped that it will result in the setting
world's third up of the greatest market-after the United States and Russia-in which goods will
East Asia
SHIPPING Wheekick.
1066 624
WALL STREET LED UPWARD BY STEEL STOCKS
New York, Dec. 3.
Stocks continued to forge ahead in an oil and steel-led advance today which topped even Friday's gain, adding some 2.5 billion to market values.
Some prices were pared from the day's best levels
by late realising after the two-session rise, but the Rain
on the day was an impressive 7.83 points in the inchiatriat average--best rise since May 29.
Ford Motor
Genera) Betrie General Fooda
Decline
In New York Cotton Futures
New York, Dec. 3. Cotton futures today backed and filled over a range of more than $1 a bale showing a trend of decline.
Mixed operations were given |
over to liquidation and switch- the spot December ing in delivery. New crop months met ceurcing spurts of liquidations, and hedge-selling 504
Finishing of!
a reaction, the 449% market showed lusses of 3 to 20
potnis. The market opened up
2 uft
New Orleans points. 471 10
closed 14 points jower.
New oulalde markel interest textlic checked pending market developments, spot mar- ket news or some crop estimate Monday, one estimated
at crop
General Motors
Gen. Pub. Unit
Gelty Oll
Gudden Co.
Goodrich A. FI CO
@codyear Tire
+50 10
5 7000
00
Hoyden Chemical
131
784: 1
WUS
500
6.45
INĮ 40
40 de 6.35
Hals had their best
gain,
Rince Nov. 1 with an average
Hometake Mining Cu Ingercoil-Rand
01
move
DOCKS, ETC K. What Dock
?
44
鉛
10: 1240 ja 20
37311
44%
enin of 1.08 points and utilities their is since ucced 0.75 in May 20
Machines
404
of the season on
28
pritule survey today
who
LAND. ETC HK Hotel HK Lana Reall
1420
British
freely over national frontiers unhindered by import duties or quotas.
Bur-
The proposal has won a
demanded even by three prising amount of favor I rol
แ objret to
Ir al among indtast safisks and ¦ Governmens joining the fath-
and porticians coming negoliations. uionista
Our !
Vie Wa
of all shade, of opinion
In a very full reply to tac for this is that earlier i 212
***S) | Government's request fer then learn abou
Lise ette: af
41% [ proposal trude on existing imperial pre-
Federation of Briksh Indusu yes i frence arrangements have been
lave submitted a la a of subjects. 10- dispelled. Food, drink and
which require either thetr 15- bxure, which
fur Account
curanme e paktive safeguarxis per cent of Commonwealth and
colonial exports to Britain, arvi
to be excluded from the free trade system.
Another reason for the sence of strong opposition is reulination that It would
The nation's new progrumme 14 1000 1400 of and
countries to vil-short A1 CA 1200 03 120 1375 00001325 continued to stimulate demand.
which stund
Inland Steel Co. Int" Dumns Int. ftarvester Internaty nal Nickel International Paper Int'l Tel & Tel John-Manville Co. Kainos C. Power di Listh Kennecot Copper Liggett Meye To Co Lockheed Aircraft Loews Incorp.
Oil shures, benefit from increased produe-Lone Star Cement Co
tion ran up a point to more than Steels, anticipating points nd fed demand for plate building now tankers on top of Their
backlogs, already heavy 141, had goins ranging over 2 points 104 | Shipbuzbiert, sensational gainers
recently, continued fri
3000 1,376
RUBBER ADLE
Trust
123 17
ire 13.000 1.6
2701.773
3000 125
+12
Youthala 41621
XUX Kevine
** 23 40
150 141 100
500
300 $ 23.20 400 18
100
132
23:30
100 g 231} 235
Tro
2812311
Maçao E
มวย
301 24:20 24 AND 23:34
1200 24 36
INDUSTRIALS
144
Su
MIO 37 70
1250
ETC
1023
14 (8)
D
LOITONS
Tiber
13
Nutty and
M
INA MESTS
Yangive
นมน
Many members are will happy Atlant the effect Euroixan
free trade
11 imperial preference Orange- ale | ments despke the exclusion at the the goods which enjoy the bulk
be of these preferences
more dangerous to stay out than to go in. True, member- ship of the free trade area
Hope STRES "It does by
not appear," they say, the Commonwealth would suffer In comparison with Europe and would have solid adventures,
if it wit to be found that the
* Bakra the most obvious of which is was likely to lead to a
ing of menxocal preferences ac- equal opportunity for selling in corded to the United Kingdom
market of some 250 million
would regard Doential
mby industrien but customers
the
this at a very gravu olijvetion to argument that has weighed musi heavily favour of British entering a free trade ares"
In
Britain participation that if
is
nembers remained uloot
uf
the free trade area would dis- culminate against her exports in
Worried
Lexislat which the British
favmar of those from fellow Cuvarument propose to kitfo-
member,
Germany
paritmalay
Approved
14
14,00 1400
130
Special Issues
Louisville & Nanville R Lowenstein & Sons.
ihe end-November 19413,142,000 bales, off 1,000 bales
47. from
30
estimate.
12512
the
Just
Adarreta
May
July... Polaber December
March.
May
34,00
33.00
11.04
3906-08
3301 19.00
NEW ORLEANS Prices of futures closed today as follows Sput
December
March
May
July...
33.50
$4.23
13.00
3302
33.02
31.03
US BANK RATE INCREASED
Washington, Deo, 1. The Government today authorised Che nation's 18,208 insured' commercial banka to increase from 241⁄2 to three per cent their in- terest rato од Kavinga accounts.
The annouKOEZIJCILË W made jointly by the Federal Reserve Board
and, the Federal Deposit Insurance Corp.
The authorised increase was the first change in the maxitrum iates permitted KİMON 1928 when She Federal Reserve and FDIO were empowered to regu• inte them.
An estimate 837.5 billion
I held in savings soODELTERW by Insured commerciai banka.
The two agencion gave of the explanation increase bai Informed soutora mid it was done
to "encourage invings,”
October
December
Merch
May
LIVERPOOL
Do
government
Old contract
Future closings, in pence per lb. were as follows:
Dec/Jan
26 90
20 45
2003
27.78
The Agriculture Department, Over the weekend, announced 19 additional sales of 414,803 bales out of the surplus stock for ex- port. Prices ranged from 20.00 cents for middling one-inch, and 25.25 cents for middling 10/10-
12
ลม
for
Mesabi Iron Cep Minnesota Mining Mission Development
324
Monasta Chenüest to Montgomery Ward Motorola The
35
401
^
31
1105
72
34
4044
411
Aircrafts, titors, caits, utile- tiny and a list of speetud pesues Jued i
| Natrnal Com Ber
National Daisey Prin
National 1ras
National Steel Coi
New York Central
Olin Mathieson
OLL levnturk
Owen-1][nude. Glum
Pacific Gas & Elec
| Pan Ainerigan Airways
Phip Morris
Tuenver 2.070,000 shares 100 1500
Fun 270,890 ahead of Friday and i was the heaviest since Novem- ben 7, when a million-shure first Foug, welkst the total Tækers run Tate briefly after the opening which featured large blocks, Longing American
WORLD
RUBBER MARKETS
14.300
shares
inch.
This for the Government has sold 6,005,709 bales under the Just commenced programme
the
April. Statisticans ligured
stock hact government-owned been whittled down to around 640,000 bales. However, 011
The January selling agents will take little to some 6,000,000 bales the of unredeemed
cotton
10
1965 town programme.
Open December contruck at the start of wuding today totalled 52,500 bales. The ecrilicated stock declined 41 to 3,019 bales.
Parramount Pretures
24
Parke Darly Co
Penny J Ca
#121
Fe Sant Car
424
Procter & Game Co
Pisburgh Mate Gl.my
Bati
Publicker Industries Pure Oll
8
4014
Menada
Volume
Open interest
Radio Corporation Republe Steel
331+
Dec.
3,700
52,500
Mar.
18,400
370,200
in
Beynolds Metal
6314
May
21,000
293,200
Shell Oil Ca
007 July
7,300
107,000
45
પૂન
1,000
120,000
6,000
81,000
Mar
400
17.000
May
-
0,600
Tola!
65,000
1,221,200 bales
en-
Bethlehem Steel, wheee pour-
stock tor-one
sptil proposal helped
market generate Urusiasm that week, added niere than 2 points and Youngstown Sheet and Tube, slated for
with merger
Bethlehen, also rose 2. Universal-Cyclops Siec) New York, Dw. 3
close to No. 1 Rss rubber futures cum-soot out with gain the question of expert subsidies
10 points 5 points, Htract closed today and the protection of patents
sales of two 021- and trade marks will have to be higher with
Westdure this session would provide necessary stleguards against the But "dumping." persibility of
It must be stressed, however, ¦ dealt with during the detailed of which musi precede the that although the majority Bri
industrialisti,
trerte eilab.shment of Inve and portfieipt
idea approved in priciple the ul a free
TERCA
system trade Europe all thai
for dia ussed
in
ย
of
趄
Western
been
Su
not
I one frust い Government-is
Tinets,
Dev
11179
The introntional alls had Malam running over 4 points in The rex rontract closer! 40 tu | Royal Dulch and over 5 in Gulf. the ice trade for pots higher with sales of 282 Standard of California gained Jersey Standard 2 points, day's most the latter in the Active Jurnover.
The FBI is miso Wered abou The posible 1ffect of differences laxation und deprecintata
allowances In the Various
etries.
yo been member
House
The debate in the Commons and previous
country har
Lolita mely
tu
M.
S
+pt No.
th &
..
.
ves use
20
British -
Standard contract closed 10 to must be no
respect 90 points higher with no sales
reported. 17.
this
who
*
Wh
to
July
Best
Nov
Just
rati
10 A
Shipbuilding gaine point in Newport News, Beatrice Foods gained another 4 points on its good dividend news.
In rails Kansas City Southern and Louisville & Nashville stood
pround with Kai
37.00 28.00
17.00
out
37,00
pointa
30.00
30.20
35.80
15
A 4-point galu in Panhandle which an- Strength t Singapore and Eastern Pipeline, London dictated, a higher trend nounced completion of a large in the local market. Traders gas and oil well in Oklahoma,
for lifted utilides. locked
explanation an
brood outline of the scheme, Detalls have worked out and unui they have dustry, they say. the warne placed in
than a competitore. prepared to commit Britain to participation.
Many of
those
would the oppomunity of welcome
In European markets dis- compute
on equal terms with their cum- in the cussion
to be con- petitors have still cleared the air of a number of vinced that those terms will, in misunderstandings
about the foot, be equal. Differences in proposal. Britain is not, as some labour costs which are higher
feared, thinking of join in Britain than in most Earn-strength of the overseas market, people
Of a total 1,184 issues traded, pean countria-would, they say, ing either a customs union or [stripily
make nonsense of the claim of although unconarmed rumours
at new inentioned expected, or actual, 742 higher. 236 lower and 206
with 21 unchanged speaking it is not even joining "equal opportunity."
Russian buying overseas.
year and 06 at a free trade
that arca since
quoted highs for the The trade unionis Jut their Spot No. 1 Res was
new lows. would imply tree movement of capital and labour as well as puri are concerned jest parti- at 37% cents a pound.
cipation in a free trade area full employ- would jeopardise ment in Britain and they want countries --
Italy, safeguards
this.
COLLITION
goodle).
market
European 6ix France, West Germany, Holland, Belgium and Luxem
to unite customs union,
bourg--are proposing
themselves into
This means that not only
they
eventually abolish
will
duties their imports from
on
each other, but they will estab
to ensure
Helpfulness
ngolst ruled
But neither the industrialists
BINGAPORE
The market opened steady oth and it overseas advice higher
the day On steudy all covering and terest for lower sheets. Futures:
1 short
No, i rubber per lb.
Dee
Feb
Saint Reg Paper
Sinclair C
Sucony Mol}] south Puerto Rico Sukar Southern National Ga Southern Railway (Com Steep Rock (Tuiuntown) - Standard Brands
Standard Oll of N. Sturling, Drua. Co. Stokes-Van Camp. Atudebaker-Packard Corp Swift & Co.
Taxax Co.
Tide Water Au, Ò1 Twenty Century Fox Film Union Carbɔkle
Union Pacific Hallway
United Attcraft
US. Oy
UB. Foll
F**
US. Live Cu
F
19. Rubber
Amelting
10.3. Steel
Warner Bros. Westinghouse Electric Wen Vs. Pulp & Paper Woolworth
43
-Valled Press.
London Stocks
Respond To US Move
London, Dec. 3. The American emer. gency plan to supply oil to Western Europe powered a strong rise across the board on the London Stock Ex- averages change today.
American
Exchange Stock volume was 910,000 shares,
York Stock New
Exchange bond volume was $8,290,000.
Market men said the Ameri- can plan touched off feelings
had gone that pessimism
Dow-Jones closing
were:
21815-1187
11893-1303% unqualed
4011&t
30 industriale
11456-135
10 utilities
05 ocks
103.67 €7.17 100.70 far.
irec
rubber per b
Nr 4 rubber per Jb.
40 bonda
1182-182
104-100 1184-1184
Cora. Tuture price index Conim spot price Index.
10363
100.70
nar the trade unionists consider No. 2 rubber par 1b. these questions
lish a common tarla against the enough rest
ม
of the world.
to
Dec. important No
the Det oppose European As the principle of
Dec. Mr trade. They are mentioned in spot rubber unbaled Chancellor of the Exchequer, out the spirit of genuine helpfulness Blanket crepe Harald Macmillan, polated out
jus a few of the thousands No. 1 pale crepe Britain'
participation in
be of details that will have to be
LONDON "out" customs union
anned in before European free cause "I do not believe that this
trade becomes
reality.- A House would ever agree to our
which London Express Service. antering
arrangements
rango
Was
A
as a matter of principle would prevent our treating the great cl imports from the
Icast at Commonwealth favourably as those from West European countries."
More Difficult
(+
London Foreign Exchange
Closing rates were:
Nevertheless Brblain would New York not stand by and see six Euro- | Montreal pean countries set up a free Amsterdam
Brussels
London, Doc. a. 2.7816-3.78-8/10 2.07-0/18-207-7/10 10.819-10.01% 199,76-139.75 11,70-411.71
rado eyetem among themselves kart that would make it much more s dificult for her to sell in any Paris of the six countries in com- petition with the other five, A Others were unchanged compromise
therefore
10 09-10 933% 063-00311⁄2 14,423-144236 Huckholm Zurich ***** 12,9141-18,234/
"WES
reached under the auspices
OBEC which will allow other
West Büropean countries, in
United Press,
cluding Britain to relate New York Foreign
übemeðlves with the duelos union in such a way that they will be able to enjoy mamber- salp of a tariff free trading area 2wkihout murrendering their right to fix their own tariffs against she rest of the world,
#yenimited
arrangement
Exchange
New York, Dec.
Closing ratis Wire:
Lof this find,; however,, le noi
Winout 124 dangers, and certain Bellum malakiádum antéquerda tie, benzi
Ölbben werO
The market was barely steady with spot quoted at 34% pence,
247-349)
General markets, cit bazit, porta
Closing Prices
Alden Ine.. Acy, Allied Chemicals Allied Mills 1pc. Allis Chalmers American Airline American Cable
Corp.
Radio
American Cyanamide Co.
Amer. & Torgn. Power
Am. facb. & X'óry... American Metal
American Smefung
Ant. Sugar Ber Amoriana Tel & Tel American Tab.
Prices!
No. 1 Rm spot .7,
Settlement hour term:
244-249%
Jon.
3436-347
Feb. MAL
397%-34}}
Jan./Mar.
July/Sept. Oct./Dec.
214-314
Deo.
Jan.
24-3417 2335-3355
Fob.
Estate crepa tiun Des.
Jan,
thick Des.
23-53%
401% 41"
Allas Corg, Mining
Jan unquoted
AMSTERDAM
The market was sicedy. Prices
closed
Anaconda Copper
Armo Eleel· Arnotur
*Baldwin-Lima-Ham.
Baltimore & Ohio
Bendix Aviation Corp. Benguet Cora
Bethlehem Steel
Boxing Alplane
today in guildors per Borden (The) Co,
kilogram, clt
follows:
No. rubber No. 1 rubber No. 3 rubber No. 1 crage
December As Burroughs And Machine
Canadian Pacific R...
| Casa (5, 1.) Co.:
4.25 buyers | Čat, ·Tractor (asi
123, buyers | Celanese Corp.
3,20 buyers C, I. T. Financial. Corp. 3.80 buyers | Cisco Manhat. Bank United Pro | Chrysler" Motors
Exchange Rates
Climax Molybd
Colgate Palmaling - Co Commercial, Credit Spumonwealth Elec. Consolidated Continental DHL BE DEL Crane, CoAPTERS markest"|"this | Cubon Amer, SUBST morning at the following enter=| Diamond Alicail.
Burinese", "wan' dana, in the local Crown Zeilerbach
do far (per, (11)
Apelesiais potes (par.21)
sworth (per 100).
(428 | DʊW Chemicale z20
19.18 'Dupont de Nemours
Raktman Kodak- El Paso National Glas
100
in the oils British Petroleum 7 shillings and nearly jumped Shell Transport was up nearly
4 shillings. Anglo-Egypilan "B" despite reports the
NEW YORK.
Prices of futures closon today
As follows.
Spol.....
Decembar
Singapore
Stock Market
Surgapore, Dec. 4.
Brokers today quoted the fol- lowing stock prices.
Opening Balu Lintang Rubber Co. Ltd. $1.77 British Borneo Petroleum
Mar/Apr. Lay/June July/Aug. Oct/Nov
New contract
Dec/Jan.
Mar/Apr.
May/June
July/Aug.
Oct/Nov
Egyptian Karnak Nov/Dec.
50.00
BAO PAULO
Future closlugs, in cruzeiros per kilo were as follows: December July October
30.00
3753 20 00 In the US, the average spot Sales
price was not available.
12 designated markets totalled 178,007 bales,-United Press.
*
"The demand for invest- ment funds," the
maid, “is greatly in exotas of savings.”—United Press,
NAMESAKES
Answers ---1 Modical, 3 Wisdom, 4 Smallpox, 5 Precaution,
7 8 Discovery, Infect, 8 Epidemic, 9 Inoculate, 10 Children, Nurse.
Disos,
2
11 Medicine, ~12
Edward Jenner.
PO B∙IE.A P.OB.I
COMPANIES
“PENIÁSULAR & ORIENTAL SN. CO.
PASSENGER/FREIGHT SERVICE
Outwards "DORYU"
"CHUSAN"
*CANTON"
Lesvos Lonides. Due Hongkong
Sailed
27th December
19th JanuaIT
19th December
2nd FebronTY
22nd February
Via Southampton, Colorabe, Pescar & Blogupere.
*** Homeware
"CORFU"
*
"CHUSAN” "DANTON" "CORFU*
Syndiente
49/
Consolidated Th See
Ord.
29/d
Fraser & Neave Lid Ord.
Freer & Neove Lid 74%%
oun. prei........ Gammons MokrywĮ Hongkong & Shanghai Beisk-
Limited
14.00 $2,00
**SURAT”
Ing Comp
Hongkong Ti
Kempes Ltd.
Lunes Rubber Briates Ltd.
$1.20 6.79
Malayon Breweries
$2.00
New Serendah Rubber Co.
Ltd.
$2.20
Feeling Tin t
Hanes Hotel
$2,00
Singapore Cold Storage
$1.481
South British Insurance Co.
$33.00
$25,00
$14.80
$0.20
$3.27
catv.China Mlad
Straite Trading
Strada Stommship United Engineers Ord. Wear Bros. ⚫cundiy:
Special
New York Sugar Market
New York, Dec. 3. World No. 4 sugar futures points closed unchanged to 12 lower with
¡tracts.
sales of 793
company The domestle No.
can.
Sugar polats
con-
traders
93 had been nationalised by Egypt, futures closed
ÖRSEN SEÄRRÖERËZË
9 to to rise lower with sales of 120 2 shillings. Buez tracla.
found demand onough. more than
Canal 2 to 53% sterling.
Manufacturing
shares
had
jrises of a und 4 shillings.
72% low
17
45%
3714
14
In the domestic bond section War Loans were up from their Others roso about Birling. Foreign bonds
regular. Dawes
casler, Loans were
and
Rocent speculative decided on liquidation, in the world contract pending further [raw market development.
Futures:
Contract No. 4 (world)
4.4in
4.41
4.00-01
were Starch
May Young July Japanese September non-asenteds were completely March
Spot (cents per lb, fob Cuba) 4.00 inactive, but the assenteds met
Contract No. 6 "Tidemand enough to lift some
prices. 1o. 1% sterling March United Press
LONDON METAL
¡PRICES®
London, Dec. 3.). Frices of metals closed today In sterling per long ton as fol-
May
Beptember
spot (cents per ib, cif NY
ox-duty)
|'NEW YORK METAL FUTURES
New York, Dec. §. *Prices of metál futures closed buyers sellam | today in conta por lb, as follows:
Coppe
Leaves Hongkong Due London
23rd December
18th FebruRTY
13th FebruŠTY
4th April
1st February
To be
Advised Later
Via Hingapore, Penang à Colombo.
FREIGHT SERVICE
Sowda 13th Dec, for Singapore, P, Swel-
tenham, Havre, London,'
Rotterdam. Grange-
**WHILLONG"400 Biz Jan “PINJATRA” due 7th Jan. dus 16th Jan. "SUNDA" “BALMARA” due 20th Jan. "SHILLONG?" Jonda gith Jan.
Hamburg.
Antwerp
mouth
from U.X.
from V.. from UK.
frons V.E.
for Singapore, P. Swat- bestaan, Fanece, London, Hamburg. Rotterdam.
Grange
Antwerp
mouth
ALL VESSELS OUTWARDS AND HOMEWARDE WILL PROCEED BY THE CAPE OF GOOD HOPE UNTIL FURTHER MOTICE.
BRITISH INDIA S.N. CO., LTD.
1859 — A HUNDRED YEARS OF SERVICH – 1946
from Singapore, Penang, "BANGOLA" due 15th Dec.
Rangoon à Calcutta. sails 18th Dec. for Japan "SANGOLA" das 4th Inc. sus 5th Jan.
from Japons
for
Singapore, Penanx. Bongo & Dalesitte
P. & O./B. I. JOINT SERVICE "ESMAILA” in Fort
"TERIA"
"IKAUNA"
selle 5th Det.
due 20th Dec. Enlis 22nd Dec. dus 3rd Zan salls 5th Jan.-
from Japan'âs Mach=
almg ter" Bingapore, Bomber, Karachi, Bamah, Khot-
KUWA Dube
frem Karachi di Bombay, Lor Japan
from Japanh
· Tur_Bingapore, Bombay dr. Karachi
EASTERN & AUSTRALIAN 5.3. CO., LTD. "EASTERN” · dus "NANKIN"
8th Dec. sails 12th Dec.
from Australia
for Sandakan, Itabeul, „Brisbane, Bydolly.” 164k-
All voorale have liberty to call at may peria'am" of off the reinte i the zoute a 'salting are subject „change, og missiläniens with or withona, metios,
For full particulars apply trat MACKINNON MACKENZIE & GO. OF HONG KONG LID. Telephone Rev 277914.
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