1957-10-30 — Page 9

Page

SHIPPING

"SUPER COLLIER" NEW SERVICE

FOR THE U.S.

Now York.

FOR BANANAS

Los Angeles.

THE CHINA MAIL, WEDNESDAY, OCTOBER 30, 1957.

TRADE and

COMMERCE

Parö 9

SECTION

JAPAN RAW SILK MARKET TO EXPAND

erense in banana imports NEW YORK

A. "auper colller" that will A 40 per cent annual in-

unload itself at the rate of one ton a second, with- out raising any dust, has been ordered from New- port News Shipbuilding and Dry Dock Company by the Pocahontas Steam- ship Company. It is scheduled to be delivered by October, 1953. Pocahontas Steamship

through Log Angeles Harbour is forecast by the port's Assistant General Manager John F. Parkinson. Renson;'s now weekly service between here and Ecuador.

thun 17,000 stema of green bananas-each weighing aboul

The M/V Balno, flying the Norwegian flag, Inaugurated the be-service when she docked Jarl lleves that the 24,000 dead-week at Berth 147 with more weight tons collier will reduce greatly the shipboard and on- shore custer of handling cont. The vessel will be twice as big bs those traditionally used the coal-carrying tritic of the Atlantic Coast.

152

Speciul unlonding gear to be built into the vessel will permit it to discharge its cargo at the rate of 3,600 luns aur hour, or

|

76 pounds, cach packed in a plazile bug.

The entire shipment was un- landed in nine hours, thanks to special gantry conveyors that reached deep into the Baloo's i&felgerated holds and, by ment of endless belts, fransported the perishable frult dockside and to

SHIPMENTS

In less than seven hours. Con-waiting refrigerated roll cars. ventional colllers of 11,590 tone take nearly 50 huurs to un lond heir curgo, at the rate of 900 tons an hour.

The ship will be 835 feet (210 metres) long, will have a beam of 75 feet (25 metres) and will draw 30 feet (10 metres) of water. She will resemble bulk carriers

Great used in the

come

COTTON

MARKET

Cotton

Now York, Oct. 29.

Prediction By The Leaders Of Silk Industry

futuros resumed Silk rallying tendencios today, retracing about half of the ground lost on Mon- day's closing slump.

Gains

ranged up to around $1.75 a bale on new erop de fiveries before the market levelled off a little under crersed bedging and technical realising,

in-

At the close the list ruled up

4

New York, Oct. 29. industry leaders from the United States, Great Britain, Japan and Switzerland yesterday joined in pro- dicting an ever-expanding markot for Japanese raw silk in a joint press conference in connection with the sixth International Silk Congrass which got underway here recently.

New York Stock Market

Substantial Gains Scored On Increased Activity

New York, Oct. 29.

́Stocks scored substantial gains on increased acti- vity as investor confidence was bolstered by Monday's resistance to selling pressure today.

Late realizing brought cles- Southern National GII

Southern Itallway (Com.) prices down from the day' Standard tranda more than enough to cancel the Monday's loss.

best levels but the net rise was Standard Oll of Cal.

18 to 24 points net. The market These delegates generally forecast a revival in silking

use in such categories, as women's wear, men's fashions, shoes, hats and accessories, lingerie.

opened up 10 to 31 points. New Orleans closed up 26 to 39 points.

i

Underlying support stemmed

Strong hots were held for from several directions: 1. An

Frenter unfavourable government week-

use of slik in blends ly crop

Eummary; 2. Planer with such maples as cotton and indications that the government wool. There was less optimism, crop report-due November 8 however, hout regaining mpy show a substantial reduc-market in ladies hosiery, tion from a month ngo; 3. largely reempted by nylon, Middle

One delegate said he was that the projected temperatures "optimistic"

The now

New York Rubber Market

According to Parkinson, the new servied will be operated by the Andes Fruit Company which expects to bring 900,000 stems DI 30.480

of bananas fores this huge port in the through next 12 months,

Shipments will

from Lakes trade, with propulsion Puerto Bolivar and Guayaquil, machinery and main deckhouse Ecuador, ports near the com as far afi as possible, and se-pany's banana plantations..

The And imports, he suld, condary dvekhouse patr

will augment those of the United | certainlles. bow.

Frult

Below normal Co., which brings in from 2400,000 stenas A year

and rain on two to three days 10-15 per cent in Japanese row Conta Ilga

and silk production could be easily Ronduras and interrupto harvesting Panama,

caused some reduction in grade consumed in tornational mar. with sales of. 73 contracts. in New Mexico and Arizona kots. during the week.

Cargo will be discharged

יזth

by

feed

a 250 feet (30 metres) boom conveyor. It will be loaded into the holds by Kraylty through 14 hatches,

Pocahontas states L will super colliers build additional as fast us coal-consuming plants Are bulls or adapted to cope with tham on the eastern sea- board.

VARDA VISITS HK ON MAIDEN TRIP The Pacific Orient Express Line's newest and largest m.a. Varda- left ship Hongkong early yester- day for Kaohsiung after visiting the Colony on her maiden voyage. After Kaohelung, the 10/ Vardo is scheduled to sail for

The Varda

|

The white ships of Unlted Fruit Arrive at the Port of Los Angles twice i+ week your round, Parkinson explained.

"NURSES"

The Andes Fruit Company, which serves as both shipper and importer, sent its feat fend, t banwax to jobbers throughout California, Arizona, Utah, Idaho, Oregon and Washington.

Euch shipment was accom- panied by a "nurse" who care- fully watched and regulated the A variance cars temperatures. of two degrees can be highly Zamaging to green bananas.

The M/V Balao was built in

IL Drammen, Norway, in 1952. ir owned by Gorrissen Klaveness, Üsin, and lesscd to The Andes Fruit Company for 10 yents.

Two other felgerated freigh- fers in the service are the M/V Vera and M/V Sufco. Two addi-

East

political

1151-

for

In California, picking made generally favourable Kene except

progress

Delegates

slight interrupilona

Progress

from 13 countries 57- group

by scattered showers. About 25-including

לב.

Standard Off of Ind

Studebaker-FATD.

Mensured by

the averages, Industrials were up 3.62 points at 435.76; rulls off 09 et 111.14; | Swin & Co. utilitics

14 at 64.55 and the 45 stocks generul 'average up .78 at 147.00.

Of a total 1,133 issued traded, 550 were higher 328 lower 259 unchanged. There were no new highs set, 41 new lows,

Texan Cu..****** ride Water Asin, O Time Inc.

Twenty Century Fox Fim

Union Carbide

Union Pacific Railway

United Aircraft

United Gas Corp.

U.S. Foll "E"

U.B. Gypsum

.5. Llac Co.

V.8, Rubber

Binelting

rates! **

Westinghouse Electric Western Union Tel. Ca,

New York Foreign Exchange

HONGKONG

N

STOCK EXCHANGE

Our Own Correspondent

Business done on the Hong- kong Stock

this Exchange morning amounted to approxi- mately $277,000. Noon quota- tiona and this morning's transactions were

NILAPTO

BANKS

Bayer Hellera Suder

HK Bank 097.3 832.5 DO A 230 INSURANCE

Lombard... 021

SHIPPING

70.4 100 2 77.5

Wheelocks 6.00 0.12)

RUBBER

2106.05

200 62

11.70 12.10 500 11

Telapione INDUSTRIALS

21 250 @ 23

ሀሩ DO 200 95

15.70

10.60 $850 1500

n00 18,70

21 27.10 1,700 22.10

23.00 14.00

10.28 16.30 2,000 m 10,20

13.20

1,100 1120

2.55

Watt COTTONS

Textile

4.30

Narang...

3512

Union

40

30

Standard Oil of NJ.

5314

DOCKS, ETC.

Steep Rock Toronto Exge.)

10

Dock

Starling Drug Co. Stokely-Van

ம

'viden

LAND, ETC.

HK Hotel 14.70 14.00

1500 a 14.70

10%

1000 14,7D

1012

500 of 1430

UK Land..

*3X

34

150 34

24

Humphreys

18.10

Healt...

1.45

231

AITONE.

... 1.47 1.8215 5,000 o 13å'

254 Trust

1.15 1.20

82

UTILITIES

301 / From ...... 22 00

New York, Oct. 20. Rex rubber futures today

to 30 closed 16

points highe

2314

Star Ferry..

005

Yaumati

2734 | Č. Ligh

50%

Nov.

28.001a

Jun.

20.356

Met.

28.306

May

New York Stock Excharige band volume was $4,740,000,

American Stock Exchange volume was 600,000 shares.

Dow-Jones closing averages

30%

Klectric

27.30 27.M

561 Metre ...

10 40

514

West Va. Pulp & Paper Woolworth

34

Cemen

30%

are

July

20.37h

were:

-United Prods.

STORES. ETC.

Sept.

20.30

Dairy

Nov.

28.237

20 Industrial

433.76

Standard contract clored 15

20 rails...

$11.14

18 ulifics

84.58

to

30 points higher with sales reported.

no

BS stocks

147,90

40 bonds

B484

Comm. future price index..

157.28

Nov.

26.25

20.25

Closing Prices

28.30

28.30

Aldeo ine, Acy.

1512

FRANT

Conoda

Allied Chemicals

Allied Mills inc.

271

England ometal

Austraila

Allis Chalmers

24

New Zealand

40%

South Africa

1342

Bolgtum

Argentina

3014

India

2102

Paklatah

2104

212

Others, unchanged

20

LONDON FOREIGN

4012

23

Closing rates were;

73

Now York

Montrent

2.00-2.08%

471%

Amsterdam

12

Brussels

1011

Frankfurt

10

Milan

34

1724

Stockholm

Bendix Aviation Corp.

4544

Vienna.

Benguel Cans.

S

Belenen Steel

40

Boring Airplane

31

Borden (The) Co.

per cent of the crop is harvest- from Japan-were on hand for od in kings ruunity. Reports In-the five-day conference

olmed dicate le damage from pre-at promoting the use of all vlous showers in the state, the Representatives from both gov Government report added.

Jan. and Industry from Month

js

Mar.

May

July

Bent.

NOV.

crnment

sericuliuro Open Interest Japan-where

vital to the national economy.m are headed by Seij! Yoshida, President of Japan Silk Associa 1lon.

Volume

DN.

20.000

10,500

Mar

21,000

221,600

May

PKAR

777,000

July

14,100

127000

Oct

18,300

187,400

Dec.

+500

37,400

Mar.

$5,500

Tole!

400 181,000

*D02,000 bales

George Elisogen, President of the International Silk Associa-

Slendir tone reflected buying en, technical reasons encouraged partly by the improved Landon

New York Cottontia (USA), outlined the "great ebbles, i higher stock market

Prices

today as follows: WES

Canadia

designed

especially

for and built trans-Pacie trade by

the ber

timal ships for the service ure now being built in Holland,

Oslo, Norway. and

ALMOST 1,000,000

owners, Ditley-Simons en Lines,

maximu

Her equipment Insure furnishings

comfort for erew as

well as passengers,

Her navigation gear and pro-

pulston are

the most modern TONS TIED UP

according to the

Los Angeles

agent, General Steamship Co.

Dead weight of the vesse! is 13,380 tona. A cargo capacity of includes .080,420 euble feet

38,670 euble feet of deep tanks for bulk quids.

NORWEGIAN

Norweglun

nap-flying The Varda is mastered by Capl. D. Valsgward of Kristiansand. Her chlel engineer is L. Rusness of Stavanger,

Tokyo, Oel, 30. Tonnage tied up in Japanese climbed near the ports today

Japan's mark one rallon wurs! maritime strike an history moved into its fifth day.

The latent reports said that a 12 vessels including total of both ocem-going and coastal ships were idled up as of mid- night Tuesday,

Total gross tonnage of the

reported as line ships was Hertens.-United Press,

The Varda's entry 121 P.O.E. service gives the three modern motorships. predecessors, the Ventum and Vigan. also are under the flag of Norway with Oslo their home port.

other numerous Norwegian togships, the P.O.E. trio will not return 10 their home port.

Like

On her first of many calls to

Los Angeles Harbour, the Varda took aboard 500 tons of copper wire, printing paper, tin plate. email machinery, kitchen wares and general cargo destined for the ports of Manila, Hongkong end Yokohama.

Spol

Det.

Mor.

Mny

July

Oot.

Dec.

Mar.

35.3511

14.04

י

34.78

23.44

33.34

13.51

progress being made in the slik industry in recent years.

Ile said: "Only 26 years ago, Prices of cotton futures closed the use of slik in men's clothes,

was out of the picture,"

"Today, however," he added, 33.10-10 this market has really taken o 35,17

strong holi. In fact, in look- gat silk's future, I will even Ro further.

I see expansion in other Belds. In lingerle, for xianple, which nylon has re- placed to a certain extent, thera has been a prominent revival within the past two years," As for silk recapturing the hostery market, he said he was "not optimistic."

NEW ORLEANS Prices of collon futures iosed today as follows:

Spot

Dee.

Mar,

May

July

üt,

Dee.

Mar.

$3.75

23.03

25.10

34.73

13.62 13.03

KARACHI The market was steady today, Unconfirmed rumours sal Rus- sin is going to purchase from this market, 5,000 to 6,000 bales. This, together with the upward there trend in New York, was helpful 420,933) in arresting further declines for the present monent, Prices closed today in Tupec's

per muund us follows:

NEW DREDGER

Luebeck, Oct. 29. The 13th floating drodger tuilt

by the Indonesia

shipyards,

for Orentsteioyaloppel

4F Sind rolice gin

200F Sind

roller in

BAW ..

200F Punjab roller pin

89/

02/%

/

83/-

closings,

In

LIVERPOOL Cotton future

the "Semeru Roem 3", left pence per lb. were as follows: Luebeck today for Djakarta. The

Old contract Ogl/Nov: 25.35; Dec/Jan 25.30; dredger was

25 52 Mar/Apr: taken in tow by

May/Jura: 25.07: July/Aug: 23.70. the Netherlands Ocean-gving Now contract OCUNov: 4020;

Dec/Jan:

Mar/Apr: 20.15:

10.30; tug "Loire"--France-Presse,

May/June: 2.40: July/Aug 26,15.

ĐÀO PAULO Cotton future closings, in cruzeiros per kilo were a fol- lows:

Moments before leaving on her maiden voyage from Los Angeles Harbour, the Varda rests at Berth 320-B in the early morning light fog.

Nov: unquoted; Dec: unquoted; Mari 38.10; May: 40.10) July! 4029; Oct: 40.40.

United States, the In the average price of one-inch cot- ton at 14 designated spot markets was 33.75 cents.

Total sales at these markets were 71,210 bales.-United Press.

PARIS BOURSE

Paris, Oct. 29.

The aggravated French now, rite in gold and foreign currencies on the Paris bourse.

cabinet crtals today caused a

"The future of silk is favour- abla," he added. "We will con- tinue to make great progress."

Expansian

Sir Earnest Goodale, of Great Britain, sold he looks for a modest expansory" in the use of silk in Great Britain: Ho pointed out that before World War II, about 30 per cent of Great Britain's consumption of 6,000,000 pounds of raw sük went into ladies hosiery,

This market has been largely lost and now only "a small amount" goes into this category. However, he added same major Brush stores have been concentraling on promoting the use of silk in men's fashions and remecting with some suc-

CCSS.

:

Robert H. Stohli, of Swizar land, based his opinistle fore cast for silk on the changing fashions in women's clothes.

Paris Fashions

"Over the past few

years,"

he said, "the fashions emphasis.

ed the hard and stiff goods, which meant that more cation

and stendiness in other neigh- bouring commodities market. However, about of the trude พฤศ represented intra-denice exchanges of July contracts for physical rubber,

Factory demand in the de- livered market remained quiet. Shipment offerings were still too high to Interest local buyers. Spot No. 1 Res was quoted at 28% cents..

SINGAPORE

Am, Brake Shoe American Airline American Cable Radio

Corp. American Cyanamid Co. Amer. Forgn. Power A, Gas & Electric Am. Mich. & pány, American Metal ..... American Smring Am. Sugar Nel.... American Tel Tel American Tob. "E" Anaconda Copper Ames Steel Armour

Ats Cons. Mining Baldwin-Lima-Hani, Baltupore & Qig Benedicial Firmance

The market opened lower re-Burroughs Add Machine

lower trend Campbell Soup Co. flecting overseas and stendied on short covering Case (J.L) Co.

Canadian Pacific A,

and for interest.

Future closings were: No. 1 rubber per 1, Nov. 30

Dec. 80-EOP No. 2 rubber per 1. Nov. 79-3013 70316-77 No. 3 rubber per lb. Nov.

737-7336 No. 4 rubber per 10. Nov.

80%-80 Spot rubber untaled

00-71 Blanket crepe

06-54

Nr. 1 pale crepe

LONDON

The rubber market was quiet with spot quoted at 23.13/16

Prices: pence per tb No. 1 Fårs spot Selbernest house term:

Dec.....

Aurum

233-2931

Jan/Max

July/Sept.

Del./Dec.

24- 2435-2431 24-2400 General marketa, el bonis, ports:

2321-231: Dot.

231-233% Nov. Dec.

Malate crape thin ungucted: thick Nov. 26-Urifted Preme.

New York Sugar

Market

Cat, Tractor Celanese

C.I.T. FARncial Corp. Chase Manhat. Bank Chrysler Motors... Climax Molybdenum Cluvit Peabody make Colgate-Palmolive Co. Columbian Carbon Co Commercial Credit Consulidated Edison Continental Ou, of Del. Crown Zellerbach... Cuban Amer, Sugar Dinmond Alkali

125 Diamond Match Douglas Aircraft Dow Chemical

Dupont de Nemours

Eastern Abrilne

Zartman Kodak

El Paso National Gha Family Financa, Corp,

Tubber Firestone Tre Ford Motor Generel Electric General Fooda General Motom Gen. Pub. Um, Gelly Dil

Gilikten Co. Goodrich (B.C Goodyear Tyre Gulf of

Heydon Newport Corp.. Homesake Mining Co., Ingersoll-Hand

Inland Steel Co.

Interchamizal Corp........... Int'l Business Machines fei Harvester..... faternational Nickel international Paper Int'l Tel & Tel John-Manville Co.

New York, Oct. 29. World No. 4 sugar futures Kansas C. Power & Ligh

Kennecol Copper closed today 3 points Eggett Meyers Tob. Cu. lower to 2 points higherckheel Aircraft

Incozyi. with sales of 140 con Lone Star Cement Co.

Lowenstein & Bona tracts.

NeDonnell Alretori

Block Exge... Mesabi Iron Corp.

The domestle No. 6 contract

Light

itquidation

demand from the trade.

in

Minnesota Mining

Milon Development

Monsanto Chemical Co. Montgomery Ward

the Motorola

was used, Today, however, the closed 1 point higher to 1 point latest Paris fashions are point lower with sales of 10 con- ing up The Better fabrics, tracts. Crepes, etc. I fol. sure this trend will mean much for ilk nearby months met a reserved National Dalry Prod

National Cash Reg. "A" everywhere."

National Lead held around New York Central ..

Bicol Comp Gold ingot (2.2 pounds), Yoshida, speaking through on Brazilian raw which gained 4,000 francs Interpretor, said that the

the 8.70 echt level for Cubans, Norfolk & Westom By. another 5,000 Jupatiosa delegation carlier to- 1.0.b. basis. Ceylon WAS yesterday rose

ex-Oun Mathieson frança today to stand at 545,000 day had presented to the execu-pected to be in the market to Chix Elevators.

Owen-Bols Glass Tropes,

tive committee of the Congress morrow for around 0,000 to Oxford Paper Co. The dollar which officially sa proposal calling for now of raws for Novamber ship- Parif Gas Elec....

Fan American Airways put at 420 Craner fetched 409 methods of raw silk testing and ment

Paramount Pictures ... francs on the black market a revision

classification Contract No. 4 (worlds: Jan: 3721 standards.

MAK: 5.08; MAY: 3.00; July: $60. Parke Davis Co. Yesterday it war' ́988. »

Penny J. C, Co, Hapti 257; 0: TA: Mai: 3.40, Pot Ball Co. The pound sterling xose from The upgrading in the claml-Spals (venia per lb. Los Cuba); 1.20.

Open interem: 6,452 couitucts. Thip Morris 1100 franes, to 1,200-United! fention of raw silk na outlined

In the proposal was erected" in sa May: 5.55;

Contract No. & donasiet Blan: Procter & Gamble Co. Press,

July: Sol: Bepi: Pitburgh Plate Glass order to meet the changing de- 804; Nov: 2,411 Spot (entia per, 15. | Publiciter Industries mand," he ad. Betono the ct NY ex-duty)

NAMESAKES

of

war, he explained, the mafor unlima Prest.

bes interest: 607 contracts fallo Corporation

Answers). 1. Dingy, -2 Univer- und-naso of my silk goes into Rity, -5 Collega, 4 Budota. D. weaving and sik fabrici. Wooing, G. Book, 171 vierial. He said the proposal, still to

Distracted, Novel, 10 Boats, 11 be approves by the Congress Agreed Merchant Rates Fantasy, 12 Oxford, 18 || WERE SUKIálstød. in accordance with a directive passed'at pro-

Press

Romance,

Zuleika. Dobson (from Max Beerbohm's novel).

Canadian a Maximum Selling File vious allik congress. * United 10: Minnien Buying · 14%

T/T 16-13/10 Q/D;

Radio Cor Pret Tepsiblia Steck Reynolds Metal Sears, Roeblick & Co. Hill Oll Co... Tindar Di Appory Mentioli

Bohr Aircraft Baugh Puerto Aloo Bags Souls Co. (Tha)

(Am.

דווין

New York, Oct. 20.

Closing rates were:

EXCHANGE

> 04-7/10

2.80-1/10

2.24-1/10

2.70-1/10 2.30+7/10

0200

(243

2.70-18/18-4.50

10.631-10.83 12095-140.09 11.77-1.70 1751-775112

118414-11841

14.38-14.48

7.99-12.30

Others unchanged-United Pres

Exchange Rates

in the locat Business want done

market this uponicl

exchange morning at the following rates:-

5.83 US dollar (per $1) ......

683 Sterling notes (per &1)

Australian notes (per £1) Indonesian rupiah (per 100). Siam tical (per 100) Singapore (Straits}

40%

LONDON STOCK

MARKET

London, Oct. 29. The stock market was a dull affair again today with small

gains scattered throughout a steady list. Markets had closed before discussions

had begun in the House of Commons on Britain's

economic dimeuitles.

There

was a mukh demand for British Government bonds which iffted prices es much na

C.

Industriuts were quiet but n Iow

like Rolls Royce rose from 8 pence to more than a selling.

Changes in oils were few and narrow, Copper shares Jumped ahead as forthcoming demand is optimistic. Gold shares im- proved.

15.00 There was no interest at all 12.za in foreign bonds and prices re- 1320

unchanged.-- United

27.50 malned

Tai Press,

SHIP

BENOLINE

"As one who still likes (I can

no longer say

loves) the Russians 1

write this as an eye witness story"

Negley Farson

Begins his fascinating story

of the

RUSSIAN REVOLUTION

on

SUNDAY, NOVEMBER 3rd

in the

POST