1957-05-28 — Page 9

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THE CHINA MAIL, TUESDAY, MAY 28, 1957.

TRADE and COMMERCE SECTION

Atomic Power Stations' Trade War COTTON FUTURES

UNITED STATES AND BRITAIN VIE FOR

FOR SALES

From RONALD BOXALL

London, May 27.

Preliminary skirmishing in a new kind of trade war-the rivalry between Britain and the United States to, sell atomic power stations to third countries—has already revealed potential points of weakness and strength in the contestants' armourios.

HONGKONG WALL STREET

STOCK EXCHANGE

Our Own Correspondent

HAS WIDE LOSSES

New York, May 27.

CHATTER ON WALL

STREET

IRREGULAR AFTER BRISK RALLY

New York, May 27.

Cotton futures today turned irregular after o brisk post-opening rally lifted the market around $1 a bale to set new seasonal highs for all deliveries from October forward,

At the close the list ruled off 3 to up 9 points. The market opened off 2 to up 7 points. New Orleans clored off 4 to up 9 points,

A Jow private ncreogo today ng follows: estimate plus a broader demand Bache & Co. finds the market for spot cotton, and more un-

influences,

New York, May 27. Orvis Brothers & Co, says some consolidation in the industrial group seems rea- Weakness in aircraft shares, chemicals, steelsonable at this time. Business done on the Hong- and metals gave the market its widest loss since kong Stock Exchange this Feb. 11, but it was a decline on lightened activity. forming another stop for its wanted rains in West Texas, moming amounted to approxi-Turnover dipped to 2,290,000 shares from 2,340,000 upward pattern....says General were the dominant

Cables technical pattern con- The late crop start caused in- one and the morning's trans- on Friday.

tinues to indicato further capital creasing_concern.

New Orleans Intercets, commla Commentators saw the move as largely tech-rain potential

sion houses and the local-irade nical in character after recent good gains, with Harris, Upham & Co. es- were the leading buyers after timates American Stating will the first call. When the demand talk of disarmament and budget cutting putting

earn $3.50 for 1957 against $2.77 was satisfied ie 'early buyer in 1056, Bays $1.60 dividend resold. Technical realising also some pressure on groups such as aircrafts.

rite could be raised to $1.75, WAA Q factor, although the market showed resistance on International Business

mately $118,000, Noon quota-

actions:

Shares

BANKS

Union

Buyers Sellers

Bates

1030

90215

7:0 MAD

Strangely enough the two greatest political... allies in the world are competing in the first in- INSURANCES stance for valuable orders from the ex-enemy countries, Japan and Germany.

The first thrust was made by to Japan will the United States. At a United finanred in the States-Japan Atomic Confer- ence in Tokyo, just over a week ago, American officials called Britain's pioneering Calder Hall nuclear power station "clumsy, inemelent and dangerous."

British Government parried to neally. criticism," said the Paymaster General, "Is to show what the critics have not.".

"The best answer

There indeed ea Britain's main strength in this struggle Alone exports, for atom-age among industrial nations of the work, it has nuclear power station actually la operation.

Big Lead

And whatever American onl- elais may Tell potential customers, American engineers admit that Britain has built up a big lead.

In a report to the United States Atomic Energy Com- mission, an American firm com pared Calder Hall's gas-cooled reactor with the pressurised water-cooled reactor under con-- struction Pennsylvania. made reactor, they said, would be less expensive because of coate and lower construction capital charges. Construction of elther reactor would cost about

bo

presumably ordinary way,

moment IL is rather than

SHLPTING Wheelook.

DOCKS, ETC, K. WHAT Bork Providen!' LAND, ETC.

100

Hotel

(B) Really

RUDDER Amalg Trum

UTILITVES Tram Youmati...

19 13.30 1840, 25.50

0118 1,423 165

1.4736 15

1.80

Still at the technical ability shek salesmanship that la win- ning the orders. Small British reactors have been sold or are being sold Germany, Denmark Australia, and a German and group is coming to London this week to discuss purchase of a full-scale Calder Hell type power station. To date actual and probable orders for British atomic plants amount to nearly. Light (0) 38.00 19.50 £50 million.

Dut the race is just beginning. Britain is in the long because I has the only working atomle power station in the world and is streets ahead of other coun- But this tries In know-how. will not always be the Other countries will one day be building their own atomic power stations and that 1s when salesmanship will really count, -London Express Service.

Cancer Scare

Shippingport, Causes Heavy

The

British-

50 per cent more in America,

Tobacco Selling

mixed on

to

300 44 7,40

+

National Steel Corp.

7136

Oil

New Yone Central Ohn Mathema

32)

03

10.'

4336

Heaviest volume camo in an upside standout, Getty 12040 which climbed 2% to a now of 38% Profit-taking high pared all but a fraction of the goin just before the close,

and

General Dynamics, Dow 21⁄2 points in the weak aircraft list, B00 18.40 followed in tho activca

another upside Corning Glass, feature, was third place. The jatter, which gained 20 points new baste. last week on ita material, Pyroceram, touched & new high at $99% up 7% points

52 2868

150 g 27.20 137.10

Electric 2080 30 Macao E. 9.30

277 27.10 Telephone

INDUSTRIAÈS, Cement 321 3314 STORES, ETC. Dairy 04,70 14.00 Lorie COTTONS

4.50 4.795 Nanying ... 8.46 6.00 2000 19 8.44 ausCELLANEOUS Entert

2014 INVESTMENTS Yangtze.... 4.10 Allied

KAD

Textiles

One Elevators.....

| Owen-Elinois Glome

Pacific Gas de Z500.

Pan American Airways Paramount Pictures

Parke Davis Co. Penny, 3. C. Co. Penn. Sait Co. Philip Morr Procter & Gamble Cu Pittburgh Plate Glass Pure Oll ........ Radio Corporation Republic Steel Reynolds Metal

15

en

Machine rights expine on June actuacks to the previous close,

Nearby July developed ensier tone under hedge and spot house selling coincident with a

Value Line says the prospect 233% of a better year in 1858 may be the only pleasant aspect for many building supply companies ....holds reports of drug com- panics for first quarter show that the upward sales trend of Inst year has persisted but coullons investors to reappraise them, in view of the recent sharp rise.

3749

3

Bears, Roebuck & Co, shell ou co.....

2034

in Douglas, 8% In Bendix, 2 Baint fag. Paper

United.

Industrial,

་

The industrial loss on averago amounted to 4.81 points, widest since Feb. 11, day before the

300 1450 market set its 1957 lows, and dropped that component back below the 600 mark at 499.21.

for Rats lost fractions most start, declining 82 point to 45.04, in their average while utilities dipped .10 to 74,20.

4000 BM

WORLD RUBBER MARKETS

New York, May 27. Rex rubber contract closed today 16 points higher to 25 points lower with sales of B0 the contracts.

May July

London, May 27. British Governments met a The British type of nuclear

recovery Int stocks power station has another big technical

as gerally were selling advantage. It uses fuel the comparatively plentiful London Exchange today. natural

America's uranium. fuels up on enriched uranium, a ráre material which is obtain able in quantity only from the United States and Russia. any country committing telt to the American type of plant faces shilling. the risks involved in having ite fuel supply dependent on political standing in Washington or Moscow.

ntom

Advantages

So

iLa

New canec Scares coused heavy seiling in tobacco shares, with British-American off more than 3 shillings and Imperial down more than 1 Tobacco

Good

steet

export figures helped zleel shares rise about a shilling generally.

September November

January

March May

New York Central, off nearly a point, had one of the widest changes in its group. Peoples Gas, down

was widest mover in the utilities.

Binclair Oil

Bouth Puerto Rico Bugar

Socony Mobiell

Solar Aircraft.

Southern Co. (The)

Southern National Ga

Southern Railway (Com.)

40

Standard Brands

Standard Oll of Car Sterkford Oil of Ind.

Standard Oil of N..

esp Rock (Toronto Exge.j Being Drug Co. Stokely-Van Camps, Studebaker-Packard Corp. Swift dc Co.

Time Tick

Tile Water Ass Ol Twenty Century Fox Fi

Union Die

Pacific Railway United Aircraft united G Corp. un Foun ..aypur

UÐ.. Line Co.

U.S. Rubber U.S. Smering U.S. Steel Warner Bros

Of 1,178 issues traded, 594 | Westinghouse Electric were lower, 201 bigher, 223 un- changed with 41 at now highs, 43 at new lows.

American Stock Exchange

Western Union Tel. Co. Wetworth West Va. Pulp & Paper

POPULATION

Standard & Poors Ands grow- *thing population arxi xising family poft incomes pointing to continued

increases in

demand for food products,....... sees a slight gain for chain stores in 1957 carn-

jooks ings

for Gradual 34 cloning of the gap in your-to- year rail trafic comparisons as the year prOGTCSIEŇ,-

411

03

W *E. Hutton & Co. Fily's Corning Glam Company's new baske material-pyroçeram—en- 3934hances the growth characteris- distics of the company and could 4455 | be important for the entire glass

industry." 03

pause in the recent trade des mand. The certificated stock de- clined 20 to 11,877 bales,

NEW YORK Prices of cotton futures closed today as follows:

Spot July

2014

18*1

Gli

United Fres.

Hayden, Stone & Co. Usta favoured dividend paying stocks in different price ranges that appear to indicate higher levels: Budd, Youngstown Steel Door, Sumray-Mid-Continent, ЕСТРО,

*

volume dropped to 800,000 shares New York Foreign S D. Allis-Chanalers,

from 1,010,000 on Friday,

Bond volume amounted $3,810,- 000 against $4,400,000 on Friday on the New York Stock change.

Closing Prices

31.70

31.18

31.05

30.00

30.20

Alden Ing. Acy,

Standard contract closed 15 points higher to 23 points lower with no sales reported.

May

- July

September November

January Maral

May....

Government

marked May

market

31.70.

31.10

311,00

3090

30.70

30,55

30.40

Allied Chemicals

Ailled Mile Inc. All Chaimers

erleen Airline

Am. Cabla & Radio Corp. American Cyanamide Co. Amer. & Fongn. Power Am. Osa & Electric Am. Mach. & 2"dry, American Mat

American Smelting American Sugar iter, American Te) & TE American Tob, "B" Anaconda Copper Armes Steel

In other sections there were modernte rises at the opening, but only a few were able to These factors give Britain hold gains. Royal Dutch rose substantial advantages in the 1% in un otherwise unchanged Intra-devler trading in the

export But the big oll group.

July-September deliveries att a

Const Mining Jittle evening-up in the expiring potential customers want event-

Baldwin-Lima-Elem. In the British

the Baltimore & Ohio delivery, provided ually to build their own nuclear

stelion War Loan was they stations. So

FactoryBeneficial Finance ..... power

com-up more than 17 shillings. Old business remained at a low point Benguet Cons.....

Bendix Aviation Corp. in the market for. two modities: complete alomle power Connols was up more than

with spot No. 1 Rss quoted | Bethlehem Steel

Boeing Airplane powershings. The advances followed atations to keep their

Borich (Tên Co supply problems from getting declines to new lows in Friday. locally at 31% cents a pound.

Burroughs Add Machine out of hand and technical in-

L.

Dumont W.

Company, Campbell Soup Co. formation to enable

market Canalon Fachie R. rubber broker, cornment, said 11 appears the Cape (J. 1.) Co. bears hesitate to cell because of

build their own possible.

03

are

In the foreign bond

them to

soon

12

section

Japanese lens were strong, and 引越 Germans weak-United Presa

Britain has a working station

for sule, But America at the

moment appears to be the more

willing seller of "know-how New York Sugar

even though theirs is less com.

plete than Britain's..

This was a big point In America's favour when Japan was deciding whether to buy

British

Market

New York, May 27.

Interest,

in a

Cat. Tractor Celanese Corp.

Chryster Motor Cumax Molybdenum

the reluctance of the primary 1. T. Financial Corp. markets to follow, and the bulls besitate to buy because ot uncertainty 119 to when Indonesia will start unloading"

LONDON

the Colgate-Palmolivo Co. Colomblan Carbon Co. Commercial Credit Commonwealth Elze. Consolidated Zalon Continental Ost of Del. Crown Zeilerbach Cutran, Amer. Bugar Diamond Alkal Deals Aircraft

The rubber market was slightly casier with spot quoted

at 20% pence per 1b, Prices:

or American nuclear World No. 4 sugar futures power stations. It compromised closed today unchanged to 6 No. 1 Tas week announced it points lower with sales of 733 and last

contracts. would buy one of cach.

technicians

Dru/ "Chemicals · Dupont de Nemours

Eastern Airline

Kalman Kodak

Bettlement house term July/September

October/December January/March

20-31-2044

2011-20 281zr

El Paso National Geo

2014-2694

Family Finance Corp.

2012-20%

285

Domestle No. sugar futures | April/fune closed 2 points lower to 3 - General markets, cif basis, porta:"

May points higher with sales of 4 June and July Contracts

Eslate crepe this June thick Juno AMSTERDAM

Britain is still in the lead but America has started a dangerous cutflanking movement. Against a reported plan for Britain to train Japanese

et Calder Hall willo their own World contracts prices sofien- atomic power station is beinged toward the close under realis- built, the American Westing ing after a forenoon period of house Electric International | arness trade

on Company is negotiating a nical tie-up covering the duction of atom, power equip– ment with the Japanese Mitsu- blahi Electric Company. And International General

•

The rubber market was dull covering today. Prices closed in guilders and reflecting the per kilogram, elf June as fol-

tech-operations

pro- flimer ruw situation

Contract No. 4 (world)

Electric July

1.September

is believed to be negotiating a October ***

with Tokyo March

similar agreement

'Shibaura "Electric.

Salesmanship

lows:

No. 1 rubber

No. 2 rubber

No. 1 eripe

No. 3 rubber

............... 2.68 nom.

1.66 nom. 2.43 HOME 2.10 nom

8.00 5.80-87 5.83 4.53-54 not available--United Press.

May Futr September Alpoke(Unida per 1. tob Cuba) 0.93

4.3L 4.01 4.51

事

Another advantage

Open "intera: 9,154 contracta,

thet . Ondries Áo, ở caoman26)

Ammica has is that it is able.

to offer through its Export=

Import Bank, generous, or

tarina: for the purchape, of Man atomic power stations. „Britain has no similar scheme and its mila oz is pjolest giver station.

Singapore rubber prices were

NAMESAKES

Firestone Tyre de Rubber Ford Motor

General Electric

General Foods General Motors

Gen. Pub. Util.

Getty Dis

Glidden Co.

Goodrich (B. &

Goodyear Tyre

Gulf Oi

Hayden Newport Corp. Homostake Mining Co.

Ingersoll-Hand

Inland Steel Co. Interchemical Corp. ** Int'l Thueinem Machines Int'l Harvonta Interior Nicke International Paper Int'l Tel. & Tel.... John-Manville Co... Kansas C Power & Light.. Keniseoots Copper. Liggett Mayers Tob. Co. Loocheed Aircraft... Loews Doory,

Kone BMT Cfment Co. Lowakutely de Bona McDonnell

Afrorack

Cawangan) Marne, 2. Sweden, | Strana from corp.

overtake

6.97

Wedding 7 Pior, & Publierty,

per b. sif NY

8.70

5.90

(Am.

Ex-

Exchange

Copperwold Steel; American Samelting. Union Oil of Call- Bornia. Owen-Illinois G453 Westinghouse, ACF Industries, Iron Works,

Pullman, Bath

New York, May 27. Closing rates were: Canucks

Bendix

Prezzo

England offclai

30-day

I

$17 Australia

90-day

New Zealand South Africa Dejgli

1.04-29/32 2.70-8/18 2.7014 2.raj

170-0/16 01964

-United Presi.

Exchange Rates

Business was done in the local tinofficial exchange moricet this morning at the following rates:- 1.3. dollar (per $1)

and Goulgae-United

London Foreign

Exchange

New York Montreal

London, May 27.

Closing rates were:

2,7031-2/70-3/1

2.55-268-1/1

10.08||~10,491A

11.73-11.75}{

17513-2762

Amsterdam

Copenhagen

Frankfurt 6.20 Millan 16.70 Paria 1263 Stockholm

Vianna 2820. Zurich

Sterling notch, (pog £1) Australian notes (per £1) Indonesian rupiah" (per 100).. 1000 Sea (per 100)

Singapore (Stealta)

SOUND ADVICE

04-DES 24,4334-14A536

72.61-72.00 132396-18.233, -United Press.

for the man with a sense of responsibility

Start a Savings Account this month with

THE CHARTERED BANK (incorporated in England by Royal Charter in 1888) -

3. Queen's Road, HONG KONG

INTEREST on your money at 2% per annum, compounded half-yearly, ABSOLUTE SAFETY for your money, EASY FACILITIES for lodgments and with

Detaber

December March

May

July

October

NEW ORLEANS

Spot

July

October

Decoraber

March May JUS

October

LIVERPOOL Colton future

closings, in

pence per 1b. were as follows: old contract

May/June

July/August October/November December/January March/April

Now contract

May/June July/August October/November December/January March/April

SAO PAULO

Closing futures, prices today were in cruzeiros per kilo Es follows:

July

30.20

Out

40.43

Mar

unquoted

May

40.40

In the United States, the

35.46h

33.2d

34.4%

34.40

5641

3133

34.83

132.12

average price of end-inch cotton of 14 designated spot markets was 38.93 eta

Sales totalled $1,386 bales,-

Prices of colion futures closed ["United Press.

#

*

*

*

*

P.OB.I E&A

COMPANIES

PENINSULAR & ORIENTAL S.N. CO.

PASSENGER/FREIGHT SERVICE

Outwards

"CANTON"

Leaves London

Salled 21/4

Due Hongkong

"VORFU"

""CARTHAGE"

"CANTON"

20h Mey

25521 June

30th May 1st July

20th July

--gard July

20th August

Via Bouthampton, Colombe, Penang & Singapore.

Homewards

"CANTON"

"CORFU"

"CARTHAGE"

"CANTON"

-

Lányan Kêngkong

6th Juma 5th July 2nd August

30th Augst

Das London

52) July

4th August

1st September

30th September

Via Singapore, Penang, Colomba & Adeb,

FREIGHT SERVICE

"SURAT"

Inda 29th May Ball 30th May

**

"BHILLONG” due 18th June

"SUNDA" Act 8th July

for Singapore, PL. Swat- tenham, Penang. Aden. Herre, London, burg, Rotterdam,

Ham- Адва

werp & Grangemouth

from UK.

from UK.

BRITISH INDIA S.N. CO., LTD.

1986 - A HUNDRED YEARS OF SERVICE - 1956 "BANTMIA" dus 8th June from Calcuttė, Rangoon

sažis 7th Juna

IFULTALA" due 2nd June

saila 201h June

"SANTIILA" due 25th June ske 27th Jurm

"OBRA"

& Strada

for JADRIL

from Japan

for Singapore, Penang,

Rangoon, Calcutta Chitingong

from Jepan

for Singapore, Penang, Rakoon de Calcutta

P. & 0./B, I. JOINT SERVICE

In Port sai 29th May

"ITAURA" day 30th Ma

saits 1st June

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Cochin

from Karachi Bombay, Cochin & Bingapore 10 7p

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