TRADE and COMMERCE SECTION
ISSUES ON
BOTH SIDES ADOPT STUBBORN STAND
From RONALD BOXALL
London, Mar. 18.
Last weekend 210,000 British shipyard workers came out on strike, and work on a back-log of orders sufficient to keep the yards busy for the next four and a half years has stopped.
By x1 werkend 2,600,000 engineering workers will prob- ably have started #serles ef "gerilla" strikes aimed at firms selected for their
"strategic" Importance.
trikes is
The aim of those to enforce the daim for a 10
per cent pay increase put for- ward on behalf of the members of 40 trade unions in the Co- federation of Shipbuliding Engineering Unions.
Stand Made
The
The shipbuilding unions were adamantelther they got more pay or they would strike. engineering unions are equally determined to have their way but they believe this con be achieved by guerilla striker without going to the length of a nation-wide stoppage.
this
WORLD
RUBBER
MARKETS
New York, Mar, 18.
rubber contract
The standard contract closed
54 to 00 points higher with no
najes reported,
SHIPYARD STRIKE NY
HONGKONG STOCK EXCHANGE
(From Our Correspondant)
Wall Street Has Dullest Session Since Last Year
New York, Mar. 18. Stocks lost a little ground in the dullest session since last Oct. 23.
Lethargy — a lack of buying interest — rather mately $335,000. Noon quota than any selling pressure put prices down.
Business done on the Hong- kong Stock Exchange this morning" amounted to approxi-
tions and the morning's trans- actions:
Shares Buyer Sellers, Bate HANKS
Bank
115.05
1800
GRANCES
ambara
SHIPPING
3T
£70
34
200 u 30
0.13
K Wharf
103
Duck
C
4734 43
Cheelock
DOCKS, ETC.
אוד
000 € 473% 500 472R (0) 13.10 13.30 1000 10,20
1.30
Star Ferry.
Yaumati
and
Rex Wality
54 to 60 points witis sales of B7 contracts;
closed
higher
Shat Dock
LAND, ETC.
March MAY
32.20
HK Rated
XI
TK Leic
$2.38
X A
July
32.18
September
31.00
Buys
Realty
November
31.00
14.20 146
30% 30% 17 101.371
000 @ 30%
RUBBER
January
31,40
March
5220
Amaly
Trust
1,42% 1,00
1.48
UTILITIES
Tram, XD
21.00
22 2500g 24
160 v 137
100 307
む Light
23.10 23.20
600) 23.20
$2,20
22.35
32.48
1800 23.10 2000 + 23.10 500 23.10
3150
< Light
21.00
Klectric...
31.40
3120
rather INDUSTRIALS
and
Leaneat 1ppe STORUS, Etc.
Dairy Watson
x Ai Emporium COTTONS Textiles
Nanyang
Vibro....
dispute
March May
July
September
January
March
Nürember
The employers--the other protagonists in inade their stand some time ago when they rejected the Dily claim even before it was pre- sentod The shipbuilding en-
Futures trading was ployers showed themselves to be just a little less Intractable quier
with prices advancing than the
by slightly on higher London unions, however,
the aceopting the Government's offer Singapore
physien! market, shipment of- (erings were scurce with little consumer demand. Spot No. 1 nt 32% cents las was quoted per pound,
of arbitration. But the unions slcadfastly refused to put their cane before a court of inquiry so the stage was set for another protracted and profitless strike in a vital industry.
The strike In the shipyards will be protracted because both sides are in position to engage in a trial of strength. It will be profities because 11 will achieve nothing that could not be achieved without a strike.
The shipyard workers are not
a depressed class. On the con- trary, their average wage is £12.100.
for a 50-hour week. Overtime con bring A skilled man's earnings to between £14 and £20 a week. Nevertheless the unions feel they are entitled to a pay increase to offset the rise in the cost of living.
Determined
The employers maintain they cannot afford to pay a penny more. In any case they say they are determined to put a stop to the prausl round of wage in- creases.
The danger foreseen Jast weekend was that the strike would go on not because either side particularly wanted a show- down but because they had both adopted positions from which it wo
would be difficult to with- draw without loss of face.
The workers argued that the industry was never in a better position to pay higher wages, Despite the mounting tonnage of ships completed, order books continue to lengthen. At the end of last year there was 63 months of work in hand; now there is probably more.
cables.
SINGAPORE
In
The market ruled steady but quiet throughout the day in thin trading with only small Interest for lower sheet; factories were gulet. Futures were:
No 1 rubber
April May
per
ib,
924%-0336
No. 1 rubber per lb. April
No, a rubber per ib. April 2011⁄2-30%, No. 4 rubber per lb. April 87-8714 Spot rubber unbaled
Blanket crepe
No.
pole crepe
LONDON
78-80
10-100
The rubber market was steady with spot quoted at 27% pence per lb. Prices:
..
274-273%
No. 1 I put ...
Settlement house term:
Miny
30 30, 2018 @ 30
400 100%
1500 24.00 200 @ 24.70
1015 34 1100 @ 331% 12.80
10.50 2015 123 ( 10,40
114D 11.00 3000 5, 1135
0.00
MISCELLANEOUS
Yangtze
INVESTMENTS
Allied
Standard Brande
Turnover totalled Q mere Solay. Alroraft 1,450,000 shares compared with South Puerto Rico Sugar
Southern National Gas 1,000,000 on Friday and 2,000,- Southern Hallway (Cont.)" 000 shares daily total which stoep Rock (Torontoax.) considered the minimum standard Oil of Cat. volume at which brokerage standard Oil of bad. Standard Oll of NJ house break even.
Sterling Drug Co, (New) Stakely-Van Camp, Studebaker-Packard Corp. swift & Co. Texar Co.
Industrial lost 1.08 points on ralls 98 to average to 472.30, 141.89, utilities a point to 71.84.
n
Losses in the olla ran around points in Gulf and Barber, aver a point in Kerr Mission and Skelly.
Tide Waler An Öli The be.
Cotton Futures Rise Sharply In Moderate
Trading
WORLD PRICES
New York, Mar, 18. Cotton futures rose sharply today in moderate trading.
Always Market For Natural Rubber
Singapore, Mar. 18 United States use of natural rubber would in- crease as the Nation's coat of living rose Mr. Charles E. Boehm, the leader of a five- man American trade deve. * lopment mission said here today.
Mr Bochum, answerbig ques ference, said the United States not turning away from natural rubber in favour of the synthetic product.
New crop months strengthened on light buttons at a Singapore press Com persistent commission house buying which met ww only light offerings. Reports of good rains throughout the cotton belt and prospects of more to come had no adverse effects on prices at all.
At the close the list ruled;
The
to 18 polits higher. market opened four. lower to] New contract
23.92
216.22
20.67
23.95
220.06
25.84
113.73
Jan/Feb. 00.00
July/Aug.
Oct/Nov.
2011 11
Dec/Jan.
18
3
eight higher.
Mar/Apr.
May/June
6314
Twenty Century Fox Film Union Carbido
110
Nearby Mary and July moved up on trade demand, coupled with a lack of offerings.
July/Aug.
Oct/Nov.
Dec./Jan.
Egyptian Karnak
McGee,
Union Pacife Railway United Aircraft U.B. Toll
2T
A report by a leading spot firm of increasing mill interest
SAO PAULO
Ima
new
Closing cotton in the crop 40% Memphis and Atlanta areas last cruzeiros
week had a steadying Influence follows: on the market,
per
futures prices kilo wero
44
May
Oct.
Dee.
Mar
Metals were soft spots, parti- cularly the coppera which had set the production cutbacks.
Motors were narrowly mixed and active,
the
4
Only wide
moves La range were losses of over point in Louisville & Nashville and Missouri - Kansas - Texas
preferred,
Utilities moved very narrow- ly with a drop in Southern) California Edison the widest,
of 1,108 issues traded, 550 were lower, 300 higher, 248 up- changed. There were three new highs set 21 new lows.
American stocks sales totalled
770,000 shares.
n
U.S. Oypatum US Line Co. U.S. Rubber
US. Smelting UA Steel Warner Bros. Western Union Tel, Westinghouse Electric West Va. Pulp & Paper Woolworthi
United FrERES.
CHICAGO GRAIN
MARKET
Chicago, Mar. 18. Grain prices declined on the Board of Trade today and wheat prices hit
a new seasonal low.
Liquidation WILS responsible $3,800,000 on for the decline. Selling was
4.70 4.00
8.20
Also
17
8.00
4.TB
Bond volume of $9,330,000 compared with
Friday,
were
Strike: London
Market Down
London, Mar. 18.
The shipbuilding strike, which moved into its first
The firm note, however, that volume of sales continued small, Memphis milis said they will only buy as they sell goods, buying exactly what they sell, according to the repart.
Ceruiflentedi stock го bales to 10,438 bales,
Month
190
Volume Open interest
0,000
20.71 30.61
30,60
He said there is no foreseeable end to the buying of natural rubber from producer countries liko Malaya America's
consumption kept increasing and there was no
question that natural
would lack a market.
Mr Boohm said
confidence
rubber
the market of
the future
natural rubber was indicated by the amount
of "positive"
search being undertaken to in- crease yields and quality in
In Malaya,Router.
"NAMESAKES
Answers City, 2 Rush, Tramp, 4 Verdoazx, # Gald, In the US the average price of Come, 7 Screen, 8 Dictator, one-inch cotton at 14 designated Pathos, 10 Alaska, 11 Slapstick, spot market Was 93.79 cents. 12 Lights, 13 Limelight, Sales totalled 13,000 -United Press,
*
*
March
May
27,100 345,400
July
23,000
150,000
October
17250)
170,100
December
17,330
157,100
March
3,100
*T2,900
say
4,700 07,500
*
July
3,400
Total
97,000 1,027,100 bates
E
NEW YORK
#
•
40.500
Prices of futures, in cents per
heaviest in March and May pound, closed today as follows:
was partly
Dow-Jones closing averages influenced by large amounts of
30 Industrials 20 ralis
15 utilities
05 stocks
40 bonds
Comm. Belur price index
20.55 ment movement of com 16363 also an influencing factor. The CCC sold 800,000 bushels to ex-
*
*
bales. Immigrant.
Charlie Chaplin.
E&A
P&O BIE&
COMPANIES
PENINSULAR & ORIENTAL S.N. CO.
PASSENGER/FREIGHT SERVICE
Leaves London
Saund 5th April
Spot
35.351
wheat, and trođe
MAY July
|script wheat being exported,
October
53.11
December
23.05
412.39
March
33.30
141.80
May Corn prices dropped under 7154 expanded liquidation. 100.00
34.17
Govern-
July
32.12
was
NEW ORLEANS
Outwards
Prices of futures closed today
"CORFU”
porters,
as follows:
"CHUSAN"
Spot
33.90
Cats
were
weaker
today
Biny
under long liquidation,
Justy
34.90 34.40
"CANTON"
*CORFU"
October
Rye fell in sympathy
with
December
Radio
the other grains. Trade fairly active,
March
May
July
lower
Closing Prices
full day, sent stocks flat Allied Chemicals on their heel on the Lon-Allled Mills Inc. don Exchange today,
seyCre
British Governments, with
pressure
faced
От
Allis Chalmers
American Airline American Corp.
Cable
American Cyanamide Co. Amer, & Forgn, Power
279-2711 | sterling, wero the weakest sec-Am. Mach. & Pdry. 27-2272 tion skiing as much as 25 American Metal
July/Sept. Ort, Dec.
General markets, clf basis, ports:
shillings. April
B07-27 May
The Government bonds gener- 2014-2011 July
20%-20% ally are still several points Kalake crepe
thin March 24 Estale crepe thick March quoted above their 12-month lows but
have lost a lot of ground since: their highs.
AMSTERDAM
was
The rubber market
Leading Industrials were ull study. Prices closed today in off Rolls-Royce dropped three guilders per kilogram, cit April shillings ninepence. Grent Unl- versal Storey lost more than two 2.60 buyers shillings.
as follows:
No. 1 rubber No. 3 rubber No, 3 rubber No. 1 repo
2.07 buyerm 2,05 buyerE
Reynolle and C. A. Parsons, 278 buyer nuclear-power issues, yielded United Press.
two shillings. There was a long 1st down between one and two shillings.
New York Sugar
Market
British
Petroleum, Burmah and Shell gave up more than two shillings in the ells.
American Smelting Am. Sugar Ret. American Tel & Tel American Tob, "E" Anaconda Copper Amour
Allas Cons, Mining
Baldwin-Lima-Ham. Baltimore & Ohio Bendix Aviation Corp. Beneral Finance
sind Airplane Bethlehem Stest Borden (Tic Co Burroughs Add Machine Canadian Pacific R Caso (J. 1) Co. Cat. Tractor Celanese Corp CLT. Financial Corp. Chrysler Motors
lunax Molybdenum Colombian Carbon Commercial Credit Commonwealth Elec. Coralichtend Edimars Continenttil Oll of Del. Cuban Amer. Bugar Diamond Alkali Douglas Aircraft Dow Chemicala Thupont de Nemours Eastern Airlitten
Eastman Kodak
Soybeans prlees were in quiet trade. Liquidation fol Jawed the weakness shown in grains and vegetable oil prices,
at outside were also lower,
Graing
34
to
Mar-Apr
May/June
20.09
Singapore
Stock Market
Singapore, Mar. 19.
quoted Brokers today following stock prices:
Due Hongkong
30th March
Via Southampton,, Colombo, Penang & Singapore.
8th May
Zist April
1st June
20th May
9th July
Leaves Mongkong
Das London
3rd April
12th Mar
12th May
12th June
5th June
13th July
TO FR ADVISED
Via Singapore, Penang & Colombo,
FREIGHT SERVICE
“BALLARAT” que 2001 Mar, From 0.3%
"BOMALT" dus 31st Mar. from UK,
for B'pore, Pt. Swetted-
ham, London. Hamburg. Rotterdam Antwerp đ Grangemouth
ALL VESSELS OUTWARDS AND HOMEWARDS WILL PROCEED BY THE CAPE OF GOOD
UNTIL FURTHER NOTICK
HOPE
"SINGAPORE"loads 9th Apr.
Home Prardo
"CORFU"
LIVERPOOL
*
"CHUSAN”
Futures closings, In pence per lb, were as follows:
"CANTON" "CORFU”
Did contract
*
markets
20.09-13
Wheat closed
14%
to
cents; soybeans closed
out
1% cents.
Wheat No. 2, rea
*
Spot
22444-22034
+
Mar. 227(1) 2234 (L)
3day
July
*
Sept.
.Dec.
»
the
Corn, No. 2, yellow
Spot
129
Mor.
May
July
Sept,
Dec.
129-4
Balu Lintang Rubber Co
Ltd. British Восто Petroletan
Syndicate Consolidated
Opening
$1.83
49/04
*
Smelters
327-
Ryo
Mar.
1 May
13114 1304%
Fraser de Neave Lid Or.. Fraser & Neave 15% cULTL
pret
$2.32
Oats
Gammons (Malays) Limited Hongkong B
kalla 28th Mat. "ORMARA” dne 25th Mar, salle 27th Mar.
Shanghai
Banking Corp.
#836
Mar.
7236-12
Hangout
May
Lunas Rubber Estates Ltd.
0.07
"SÅNTHIA” due 18th Apr. anila 17th, AIX-
Malayan Beeverses
Soybeans, No. 2, yellow
Gen. Pub Util.
Lich
Getty Odl
Spot
Petaling. The Ltd.
Goodrich (B, F.) Co.
Mar.
Thela altitude
Goodyear Туте
May
whole vexed question of TC- strictive practices and “demsren- tion" of jobs seems to be tay conditioned by fears of a return July to the misery of the depression March
September whers
Krüss grew on the slip- May
Gulf Oil****
Sept.
Nov.
4.18
0.25-20
Barley
0.13
10005
181
Spot.
4.25
England official
2.70
ways.
July
4.74
J
30-day futures
New York, flour
Spot-(cents per ib, fob Cuba) 6.50 Open Interest: 8,940 contracts.
90-day futures
2.78-1/32
John-Manville Co.
Australia
2.2312
Kennecott Copper
200 lb. sack
New Zealand
270
Liggott Meyers Tob. Co. pri
2.7034
Lookbord Aircraft
Belgium
0156-1/18
while with
May July September
5.87 Spot cents per ib. elf NY
ex-duty)
5.70 Open Interest: 3,655 contracte.- Unlled Press.
4.80
80
5.85
2006
$750
Buyers Sellers
70%
さ
this
But although the unions cite prosperity in arguments about the employers' ability to pay they do not appear to have much faith in it when it comes to arguments about their own
conservatism.
Plague Of Yards
towards the
New York, Mar. 18. World No. 4 sugar futures closed today unchanged to 11 points higher with sales of 948 contracts.
The Domestic No. 6 sugar
In the foreign bond section there were purchases of Greek and obscure Baltis bonda. Dollar
stocks wêre higher-United
PICES
futures closed today unchanged New York Foreign
to two points higher with sales
of 57 contracts.
Contract No. 4 (world)
Exchange
New York, Mar, 18. Closing rates were:
El Paso National Gas (Nsw)
Tamily Finance Corp. Strestone Tiro
Ford Motor
General Electric General Foods General Motors
Heyden Newport Comp Homatake: Mining Co. Inland Steel Co. Int'l Business Machinea Int'l Haryester 1..... Internationa) Nickel International Paper
inti Tel. &
*
BRITISH INDIA S.N, CO., LTD.
1850 - A HUNDRED YEARS OF SERVICE. —- 158M
from Calcutta, Rangoors “BANTHIA” dua Trà H
Je Straits
for Japan
from Japan
fox Singapore, Penang, Zangoon, Chittagong Calcutta
from JapGE
for Bingapore, Penang, Rangoon de. Cakuztia
P. & O./B. 1. JOINT SERVICE
due 3rd Ap salis, dil Apr.
duo oth Aur sails 'sta Apt.
das 10th ADEL sais 13th. Agr.
frobá Japan
for Singapore, Ponang, Cochin Bombay
from Bombas de Karachi LOR-Zapad
for Bloempore, Bombay Karachi, Dubla, Basrah, Khorramshahir di 16sowniki from Karachi, Borobio
S'pore
"ITOLA".
*OBRA”
"IKAUNA”
"ITRIA"
due 15th Apr,
galis 19h. Agr.
Demarcation disputes are the
plague of Belush shipyards,
There was
the Case recently Contract No. 0 (domestic)
when work in a biz British yard
was held up for months metal workers wrangled wood-workers about who should put the screw into plates that were made of laminated motal and wood.
In the end this pointless dis- pute was settled but 140 solution was almost as silly
now
metal-workers put just enotigh screws Into the plate to hold it, in position. Then wood- wordcore put in the rest.
May Do Good
NEW YORK METAL FUTURES
New York, Mar. 18. Pricca of metal futures closed today in cents per lb. na fol- lows!
B
Land
Zina
Mar. Apr.
15.106
10.000
.Mar.
Copper, Max.
18.0011
199.00
Apr.
Tin
Mar
The prosent dispute may yet do some good if it leads to solution of demarcation prob- Seuran Mlog thận. A pay. IncrVARO would be a emall price to pay for an undertaling from the undina to Bring their... thinking on, this "master" up" ka datojm London Express Service..
South Africa
Argentina
India Pakistan Hongkong
United Press
London Foreign Exchange
London, Mar. 18.
Clowing rates were New York
TATL-2.79 Montreal Araberdin Brymels Copenhageni Frankfurt ·
tholi
ited
Loews Incorp.
Love Star Cement Co. (Now).
Lowenstein & Bone
MaaDonnol. AITCIRËT
Mesabi Iron Corp.
Minnesota Missing
Militos Deeslopment
Monsanto Chemical Co.
Montgomery Ward
Motorola Ind. ****
| National-Cash 100g, “A” La
National Dairy Prod.
National Lead
National Steel Corp:
New York Central ...
Olin Mathieson,
OHE Ravator
Owen-linolă Glass
Pan American AirwAYS ****
Puette-Clas à Bec,
Paramount Pictures
Penny J, C.. 06
Los-10/10
Penn, Salt Co.
Philip Morris
Probles Camble Co.
Puuburgh Piate Cliams
Publicker" Industries.
Radio CasɔERMÉIDE
Republia Steel Reynolds Natal
Sinclairol; Booony MoĚJOLI
130-140
$15.40% *****-United Presa.
WINNIPEG PRICES
Winnipeg, Mar. 15. Prices of grain futures closed today in Canadian cents per bushel as follows:
Date
May
July
Barity
Hompa Lito."
Now Sendah Rubber Co.
Rafes Hotel
Sugapore Cold Storage
South Brilsk
Straite
Insurance
Stralis Steameto
United Engineers Ord.
Урагда Вгов
exdiv. Texall China Mall Special.
LONDON METAL
PRICES
London, Mar 18, Prices of metals closed today in sterling per long to follows:
Tin spot
S-2000LIA
Copper apoi
3-month
Trend 2nd Hald Mar.
Ztries' End kiale Mar.
June
EASTERN & AUSTRALIAN SS CO, LTD,
"NANKIN” tonda 1918s Mar.
“EASTERN” dan '18
Abr. saila 18h. ADN.
201
boune direct.. Frbin Austrália,
"All" cambia "farve 'Uborky bó call' at any porta en or off the route à ta róun, à miling are subjack.
to change or amandmani Will' or wishqns moties,
Exchange Rates
Boninoja. Was done the onl
taring notes (peł Clustraight/notNE (EDRE, bedoneriana: virslað sértver: 100)
For full particulurs apply tat MACKINNON, MACKENZIE & CO. OF HONG KONG LID. Telephone Now: 27721 4.
14
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