1957-10-17 — Page 9

Page

THE CHINA MAIL,

THURSDAY, OCTOBER 17, 1957.

SHIPPING TRADE

and COMMERCE

SECTION

Japanese Ship A NEW IMPETUS GIVEN BY BRITAIN

Total Wreck

Brisbane, Oct. 16,

The crew of the Japanese ship, Eifuku Maru,

reached Gladstone today aboard the tug

Fearless, and said their vessel was a total loss.

The anchor eable of tho stranded ship snapped in heavy Aas yesterday and as the vessel swung broadside it was bufter ed against the reef.

Sulvage equipment valued at £1,500 was left aboard as the crew

salvage and

experts scrambled for the Breboats,

Experis d the hull Waz ripped and the ship had us- sumed a 25 decree ist,

RADAR FAILED

Captain T, Abe said tonight the ship's radar did not pick up the reer which the ship struck,

The reef was about 242) mites northeast

Gladstone, Di safe.

he

"A South-easterly ide had taken us off course, Our rudar which has a range of ten miles missed the reef there was no image of the reef." Mr Abe tafel.

marine sur- Mr Abe and a

G A. Gott, veyor, Capta arrived In Brisbane tonight from Gladstone and will com- pile a joint report tomorrow on the plight of the ship.

TO BE STRIPPED

Another Japanese cargo ship will be diverted to the stranded Elfuku

The Maru.

Ginyo Maru, or it woy from Tokyo to Sydney, will go le wreck ref where

Eifulcu is the caught broadside on.

The crew of the Ginyo Maru will strip the wreck of any movable fittings and equipment if it is considered safe to yo aboard,United Press & Reu-

tex.

BIGGEST SINGLE

JUNKS BRING

QUARTER

OF COLONY'S

CARGO

By A CHINA MAIL

REPORTER

Facts which emerge from the latest report of the Director of Marine show that in this mechanised age almost a quarter of the cargo landed in the Colony from foreign destinations comes by junk.

Junks in this case include both salt and engine-driven junks.

The bulk of this cargo came from Canton, West River and Canton River Delta ports and Macne. A small amount eame from East and West China coast ports,

Ships described as "power- of 00 tons and driven vessels under" and river steamers car- ed between them less than one-tenth of the cargo brought by junks.

would Power-driven vessels include tuga drawing lighters, freighters and motor small trawlers. BIGGEST FLEET

The Colony's biggest "Torsign the junk rade float" is easily fleet.

The number of junks which came to Hongkong during the year to March 31, was 11,400. number of ocean-going

The

vessels calling at the Colony Was 3,522, almost exactly a third of the "foreign trade" junk fleet.

The number of river steamers

HK FERRY SERVICE calling at the Colony was 1,144

The biggest single commuter service in Hongkong is easily the Star Ferry-It takes more than 30 million passengers year across the harbour.

a

Next biggest survice is the

Street-Jordan Jubilee

Road service (the Yaumati vehicular service)

carries more which than 2 million commuters,

and the number of power- vessels, 40 tons and under, was 4,138,

driven

British ocean-going ships coming to Hongkong for out- numbered ships of any other Bag. Out of 3,570 in the last financial year, 1,384 British ships entered port. The total tonnage of British ships enter- ing port was 30 mililon, out of a total of 10.2 million tons. SECOND BIGGEST

of

The second biggest usCT Hongkong were Norwegian-flag ships a total of 423 entered Street-port in the last financial year.

the Following that contes Jordan Road-Wanchal service with 18.48 million a year, and then the Jubilee Shamshulpo service with 15.36 million a your and the Jubilee Street-Mongkok service 15.16 million.

The total number carried

the Colony's ferry network

the financial year to March

was 124.02 millon,

with

by

in

31

And the third biggest user was Japan, with 414 ships,

illustu- The accompanying tion, published in the Director of Marine's report, Illustrator wls using the port of Hong- the numbers and kinds of

kong. The illustration on the right Indicates not cargo tonnages, but tonnages of the vessels visiting Hongkong.

Foreign Trade -

ical Trale

18,000

9

10,000-

14,000

12,000-

10,000

10,000-

6,000-

1,000

22,090-

POKE

Steamers vader 60 tom

Powered vesek under 60 m

! (amber of Cooký) -

Forrig

(la Milton Towe)

|

European Trade

Scheme Takes

A Step Forward

Paris, Oct. 16.

Plans for a vast free trade zone in Europa

HONGKONG STOCK EXCHANGE

Our Own Correspondent

Business done on the Hong-

received a new impetus today after a speech to the ministerial council of the kong Stock Exchange this 17-nation Organisation for European morning amounted to approxi- mately 5440,000. Noon quota Economic Co-operation by Mr Reginald Hous Maudling, British Paymaster-General.

NEW YORK

COTTON MARKET

New York, Oct. 16. Unfavourable weather news pushed cotton futures up sharply in moderately active trading today. At the close, the list ruled 24 Opening to 30 points higher. pelees were 5 to 7 higher. New Orleans closed 29 points higher. steady The market opened

and

the

morning's transactions:

Khatre Buy Sellers Halos BANKS East Asia.. 272 INSURANCES

OEEC sources gald tonight the British Minister would be formally proposed tomorrow as Chairman and co-ordinator of a ministerial negotinting commit- tee te prepare a draft treaty set ting up a Free Trade Zone, Arst SHOPPING proposed by Britain earlier this year.

My

Lombard

Wirelocks

6.63

200 1000 m 6.91

LAND, ETC. K Tutel..

Maudling. specially JK Land charged by the Brlish Govern- RUNDER

trade zone Amaly. free ment

with

the Council: "We Trust... talks. told should not oppose the inclusion UTILITIES within an agricultural agro-Tram

Yourswil XD ment of a provision for the C. Light progressive abolition of tariffs between the member countries Electric Macao E so long as the United Kingdom Telephone is granted a waiver and so far as there is no change in im- perial preference."

bal reports of further rains la Bone Of Contention Texas and parts of Louisiana and Mississippi induced cover Ing which boosted prices more

bible. than 75 cent,

The list dropped back slightly early in the afternoon, but shot up to gains of more than $1 a bale

ย Hittle later en continued bud weather reports,

The advance brought in some New Orleans selling and little hedging.

new

il

Belief that there will be no;

support Iegislation to effect the 1958 crop also helped

to it the market.

Domestic cotton consumption for the four weeks endea September 28 was reported nt 655,000 bales, as against 007,000

Agriculture has long been regarded as the bone of con- tention In plans to set up a Free Trade Zone association the six common market nations France, West Germany, Italy, the Netherlands, Belgium, and Luxembourg-with Britain and other members of the OEEC.

OEEC officials considered lo- night that the main purpose of the ministerint meeting, under the chairmanship of Mr Peter Thorneycroft, Brlish Chancel. lor of the Exchequer. had been virtually achieved,

in the

Continental delegates point- preceding four-week

dir- period, and 320,000 in the five ed out that fundamental weeks ended Sept. 23, 1978. deuities, such as those connect- remained Daily rate of use wus 32.800ed with agriculture,

it was a bales, agalust 33,300 and 33,000 to be resolved. But respectively.

forward to constructive step get proper negotiating machin- ery going

NEW YORK PRICES

New York, O. 16,' Prices of cotton futures clused today as follows:

Spol: 33.30n: Dec: 3403-01; Mar: 4.75; Mny: 44.81: July: 33.40; Def: 5340;

hier: Drc: 33.43: Unlice Press.

3344-

NEW ORLEANS PRICES

New Orleans, Oct. 16. Prices of cotton futures closed today as follows:

Spot: 33.2); Oct; expired; Dec: 34.743 Mur: 34.70; May: 34 37: July: 33.40: Det: 31,41: Dee: 3341; Mar; 33.47-United Press.

LIVERPOOL PRICES

Liverpool, Oct. 16. future closings, pence per 14b, were as follows:

Colton

All

Approval

141 14.70 3000 » 14.00 33 344 3300 F 34

1.50 1.523 5000 ca 1.525 1.22% 1.30 5000 mm 1.25

22.30 23.10 100 18.30 18.70

1040

1500

21 27.10 3000

27

300

INDUSTRIALS Comeni

20.30

14.00 314

Rope Amoy

STORES, ETC. Dairy Watson

200 20

New York Stock Market

NEW YORK SUGAR

THE ADVANCE IS MARKET

BY

HALTED HEAVY SELLING

Heavy

New York, Oct. 16.

selling near the close hammered down stocks today and halted a sharp two-day advance.

Was Monsanto iemical

by

Montgomery Ward Motorola Inc.

Up

National Cash Reg.

National Dairy Prod.

Almost $1,000,000,000 topped off market values the decline, which picke momentum late In the session. The loss almost halved the gain of the two previous ressions, *The Railing. which hit

Norfolk & Western y. Olla Elevators market before the close, was owen-Illinois Glass

the

| touched of by Secretary of

National Lead ....

National Steel Corp. New York Central

a

Oxford Paper Co.

Pan American Airways

Paramount Pictures

State John Foster Dulles state-Pacific Gas & Elec. ment to Russia that the U.S. will stand behind Turkey that nation is attacked,

There

Factors

were

I

other

2650 % 18.00

Lwo 100 kr 10.70

27.60 influencing meters-Vice-Presl

dent Richard Nixon's statement 27.10 that the nation must place do- fence needs before a tax cut, and the warning of Alfred Hayes, President of the Federal Re- serve Bank of New York, that it would be a "great mistako" 10.18 to relax credit restrictions now. Individual losses in the main 1st ran to more than 2 points) Hin a mumber of key issues.

... 10.10 10.30 2000 13.30 13.30 L. Crew... 23.80 COTTONS Texile... 4.375 4.423

MISCELLANEOUS

Entert. ... 2180 INVESTMENTS Yankisze Allied

HK. & F..

Invest..... 9.80

643 4.15

500 4.375

New York Rubber

Market

Weakness

The recent weakness in lead and copper prices upset non- ferrous metals. Airerafta and rafis were the victims of proft- taking.

Of all the groups measured by the aver- ages, only utilities managed to show a gain.

major

Parka Davis Co.

Penny J. C. Co.

Philip Morris

Procter & Gamble Co.

Pittsburgh Plate Glas

Publicker Industries Pure Q

Radio Corporation Radio Corp. Pret Republic Mel Reynolds. Metal Sears, Roebuck & Co. Rains Reg. Paper Shell Co. Sinclair Ol Socony Koblidit Bolar Alcraft south Puerto Rico Sager Boutlier Co. (Th®) ̧ Southern National Ga Southern Ballway (Com.) standard Brands Standard Oil of Cål, Standard Oil of Ind Standard Oil of NJ.

| Sterling Drug Co.

Stokely-Van Camp.

Studebaker-Packard Corp. Sunshine Mining swift & Co.

Texas Co

Textron Ine

N Water Assn. Od

Time Inc.......

Twenty Century Fox Film Union CarbICE

Union Of of Cal.

Union Pacific Estiway

United Aircraži

United Gas Corp.

in U.S. Foil "D"

Turkish-U.B. Gypsu

The oll group was weak the wake of the Syrian dispute.

At the close the Dow Jones average showed industrials at 443.98, of 3.97. Rolls of 117.07 off 1.79; utilities 80.78 up 0.41

New York, Oct. 16. Rox rubber futures today and 65 stocke 151.90 of 1.14. Sales for the session came to closed 6 points higher to 2,000,000 shares against 2,020,- 5 points lower with sales 000 shares yesterday. of 39 contracts.

Nov: 20.60; Jan: 93; Mar: 290 May: 19.40; Jidy: 2930, Bept, Nov. 2913.

The standard contract closed 0 higher to 3 lower with no sales

QEEC representatives reported. who spoke today approved

of

Nov: 20.50; Jen: 2936: Mart 233. Mr Maudling's approach to the May: 29.40; July: 29.30 Sept. 1933: problem A Belgian delegation Nov. 29,20,

Melal said the Belgian Forel

M. Henri Minister,

Fayat, warmly welcomed the British behalf of the six move common market nations.

on

The futures market was on- other cull affair today with prices drifting aimlessly. There were reports of some consuner buying early in the day but this

quickly dried up. Far East Mr offerings were

moderate with some business down, Spot No. Ras was quoted at 2915 cents pound--United Press.

sald references to agri-

In

QEEC sources Maudling'

Old contract Oct/Nov: 25.00; Dec/ culture were seen as a widening Jun: 23.23 Mar/Apr: 27.75: Mlay of the original Brush point of

about agriculture proba May/lems in the free trade area. 26.an. Reuter.

June: 20.00; July/Aug: 28.10.

Now contract Oct/Nov:

Jan: 20. 10: Mar/Apr: 2000 Dec/view

June: 20.50; July/Aug: United ProS

SAO PAULO PRICES

Sao Paulo, Oct. 16. Cotton future slessings,

ich cruzeiros per kilo were follows:

Dee: 38.30: Mar: 40 00; May: 40.39 || July: 40.40: Oct; 40.00.

thu

In the United States, average price of one-inch cotion at 14 designated spot markels was not available,

Total sales at these 13 mar- kets were 40,245 bales.-United Press,

LONDON STOCK MARKET

the influence of

had

Sterling Stronger Against $

London, Oct. 15. Storling maintained an im- provement against the United States dollar up to the close of the London foreign exchango market| today.

SINGAPORE RUBNER ·

MARKET

Singapore, Oct. 10.

Issues traded,

Of the 1,150 only 285 advanced, 099 declined and 241 held unchanged. New were set by 70 issues. There were no new highs.

Now

Howe

U. B. Line Co. 1.8. Rubber

U.9. smetting

.5. Steel

Warner Bros. werlinghouse Electric Wertem Union Tel. Co. Wert Va. Pulp Paper

Woolworth

-United Preg

Now York, Oct. 16. World No. 4 sugor, futures

today closed four points higher to nino points lower with soles of 71 contracts.

The domestle No. 3 sugar futures closed unchanged to 10 points higher with sales of 873 contracts,

raw BUKIT

A 5-point advance in pat world steadied

distuut Only the March, 1959, delivery declined.

futures.

The recent additional cut et 130,000 tons in the U.S. sugar 31 markeling quota brought arm

ness into domestic futures.

Contract No. & world): Jan: 4.02: Mar 275 May: 3.74 July: 3.57; Sept: 3.74 Oct: 270; Mar 2.40.

Spot (cents per ib. lol Cuba) 4.02. Open interest: 4,804 contracts,

101

211

01

する

131/

New York Foreign Exchange

New York Oct, 10. York Stock Exchange

Closing rates were: bond volume was $4,150,000.

Canada: 1.03-18/10; England Stock Exchange emetal: 2,0015; unofficial: 283-253 American

shares. 30-days: 2.70-0/10; 90-day: 2.70-1/10; was 780,000

Australia: volume

New Zealand: United Press.

2.19% South Africa: 200%; Del- 1994; India: 2104; Pakistan: unchanged. Unsted others

Closing Prices

Aiden Inc. Acy. Allied Chemicals All Chalten Am. Brake Shve American Airline Cabli American

Corp. Amertean Cyanamla

A. Gas & Electric Âm Bánh Âu c American Motal ... American Sailing Am. Sugar Fet. American Tel & Ta American Tob. "U" Alconda Copper Arten Stee!

Finance

The market opened slightly Armour higher and ruled quiet through- | Atlas Com. Mihing out the day with minor fuetuu-aldwin-Edra-ltant.

Hallimore & Olu tion. There WAS BOMA KLwall in- terest for lower. shvels and re- Bendix Aviation Corp. milis but turnover was gener- ally small. Future eksings, Boeing Airplane Straits cents per Ib. Malayan ports, were as follows:

No. 1 rubber Nov.

Dec.

No. 2 rubber Nov.

No. 1 No. 4

11

Benguet Cona, Bethlettom teet

fob

Borden (The) Co. Burroughs Add Machine

Care (J. 1.) Co.

04-04

64-04 02-023

80-0012

77-7744

84-042 74-76 17-04

Hpot rubber unhaled Blanket erepe rio. I pale crepe

LONDON RUBBER MARKET

Colled Press.

London, Oct. 16. The rubber market was very quiet with spot quoted at 24% pence per lb. Prlees:

No. 1 has spot 2014-25. Settlement Nouwe tezin!

Nov:

London, Oct. 16, British Government under The rate tonight was 2.80-7/16.

JAMar Sterling's Tuts was one-sixteenth of a 25-25; Deo: 23-2563 strength-opened strong bu

cent up on the close of the 2016 A/June; 1511-25); July/ Sept 23-535: Oct.Dec: 54% -964. zwerket Imat

which oond thought about the

nith

General markets,, : Deer basis, port: Middle East and virtually all

wyn liself the highest

polat Oct!

_20-25; Novi galas were wiped out. War

reached by the pound against 24-25; Estate crepe this Nov: 11:

thick Nav: 26.MŰrilled Press, Lon closed unchanged at

the dollar alnoe June 20 laak £63-8/10, but Old Consols and!

AMSTERDAM MARKET year. several others lost £.

Amatendon, Oct. 16. The rubber market was very

Blue chip

Industrials were Agalust viber main currencies, mostly down a few pence with however, sterling weakened. Unilevel and Vickers down id.

Olla were nearly all moderate. Compared with last night's quiet today, Quotations were

ly down, between 1 and 3 shil- logs, except for Royal Dutch which, just before the close, was heavily bought and rose £%. Gold shares were firm,

German MaTE,

closing zato for sterilog

the against sterling was

4 lower Ki 11.77% at the claws tonight.

Germana were unchanged but With other closing rates,

there was moderato selling

the JapanesO.

The

IO

assenteds

of the 1899s lost E and

Hon-assentede £.

the

Premium for dollar stocks felk-

14 per cent to 8% per cent.-- United Press.

of

all unchanged

United Press.

Exchange Rates

1

that sterling agglut the

Businem was done in the local

exchang Canadian dollar was 2.7955 | modiziak compared with 2.70-13/18 1841 rooting at the following salepr

13. doler (per (33) an night, sod that of sterling starting Kota (PY 31 POR against the

Swi · frenos || Augiesina nosal (pel

with Fidonesian pupiah (per 100) STR (per 1001 Kingapore

1236}%-Reuler,

Campbell Soup Co.

Canadian Pacific I.

Cal Tractor

Colaner Corp.

C. L. T. Financial Corp. Chase Manhat, Bank Chrysler Molars Cluvit Peabody Colgate-Palmolive Co. Colombian Carbon Co. Commercial Credit Commonwealth Elec. Consolidated Edison ... Continental Oll of Del. Crown Zellerbaeli Cuban Amer, Bugar Diamond Match. Co. Dougina 'Aircraft Dow Chemicals Dupont de Nemours Eastman Kodak ....

Paso National Gas Family Finance Corp. Firestone Tyna ́& Rubber Ford Motor ..... General Electric General Foods General Motors Gen. Pub. UU.

lidden Co..... Goodrich 18. T.) Co. Goodyear Tyre Tumekake Mining Co. Ingersoll-Rand

Infind Stovi, Cb, Yalerchemical Corp. Inly Business Machines Int'l Harvester, International Nickel International Paper Ini Tel Te

John Manville Co Kansas C. Power & Light Качеств Соррит

| Sweets Myor Tel. Co.

Lockheed Alromant Loews Incorp. Copa Star Criment Co.

·Dowenatain à Bone, MeDonnell Alterati

A Miamadoka. Afining

Blaston, Dovolotaneki

Radio

384

321

(AM.

B:

2106; Pres.

LONDON FOREIGN

EXCHANGE

London, Oct. 18. Closing rates were: Now York: 2.807-2.40%; Montreal: Amsterdam: 2.70-7/10-2.70-9/16:

10.524-10

Breastje 140.4216- 140.4T1; Frankfurt: 112735-13.7103; Milan: 1750-17594: do: 10.00%- 19.995: Paris; 31827-1183: oljers

E unchanged.-United run,

Contract No.6 (domestic); Nov; 5.74 Mor: 2.40: May: 8.00; Sept: 301; Nov: 5.61.

Spot fernts per lb, if NY ex- duly): 5.30.

Open Interest: 013 contracts.- United Prean,

NAMESAKES

Anawers:-1 Patriotism, 2 Austere, Republic, Censor, 6 Brusque, 6 Arms, 7 Punic, 8 Rome, Destroy, 10 Discipline, 11 Africa,

12 Public, 13 e- phants, 14 Carthage, 15 Hanni- bal, 10 Kuly, 17 Senators.

Marcus Porcius Calo (The Roman Stolc and Statesman).

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you're going.**

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