1957-11-14 — Page 9

1

SHIPPING

German Water Wagon

Germany's water version of the Volkswagen automobil, would be this "Walermobll,” a small motor-beat pul out by e Lepel um. The boat konta Iwo, and has been described as the dream-boat of the tile man. It can travel at 35 kilometres per hour, has its own radio, is driven by a 200 er power plant producing, 12 horse-power. It should be in Reneral production by next summer, and will cost marks.--Express Photo,

CANADA'S FLEET GETS SMALLER

1,973

Mr Hees' only comment on £ posible solution was:

Commission on "The, Noyal the coasting trade is expected to make its report within the next time few months, and at that Ottawa, Nov. 12.

it will be appropriate to deter- Canada's deep-sen merchant mine whether or not any chringe then policy might be desirable; navy, 10 years ago

the not only in respect to constal fourth largest in world, will shrink by one-shipplag but also deep-sea ship- third with the transfer of cight freighters to gistry in Port of Spain, Trinidad.

ro-

There vessels, three molor ships and five steamers, are the survivors of the 65-year-old service aubsklised steamship between Canada and the British West Indies. A statement in the Commons yesterday by the Transport Minister, Mr Geore Hees, confirmed their removal from Canadian Interest,

Mr Hees said the step was being taken by Canadian Na- tional Steamships (West Indies) Lid, to break a strikke by the International Union Seafarers

seamen which had died 230

the of 4. Five July since

tied

up freighters аге Montreal, the others in Halifax. REGISTRY

In

ping."

been

The decline of the Canadian merchant fleet has been con- tinual since its peak at the end of World War 11. In November 1047 It included 137 orern-going dry-cargo ships of more than By 1949 the ships 1,000 tons.

foreign Bold 10 tund interesis.

The sole bright spot was the Korean war, which brought a temporary revival. The year before, the government provided a $3,000,000 subsidy for Cana- dian-registered vessels, but this was ended with the Korean war.

A great number of Canadlah vessels have been transferred to United Kingdom reglatry. where they remain Canadian- wned and can be recalled by of need, this country in time Today

there are 70 Canadian with U.K.. registry.- ships United Press,

ships

NEW

The danger that the would be lee-bound in Montrent

ENGINES FOR

through the winter had forced SHIPS' LIFEBOATS

the Company's hard, Mr Hees for A final deadline anid. acceptance by the Union of the offer cotapany wage increase lind passed at noon, November 9.

Mr Hees said: "It is the opinion of the government that, under the present circumstances, and having regard for Canada's desire to ald and assist the pro- posed Federallon of the West Indies, the service can best be administered under this arrange- ment,"

Registry in Trinidad will per- mit CNS to hire seamen from nrywhere in the world and re- move the ships from union con- trol

The loss of eight freighters reduces Canada's ocean-going merchant fleet to 10 cargo ships and eight tankers. These spend the greater part of the year in coastal trade and others are operated subsidiaries

ps companies which provide them with captive cargoes. AMENDMENT

by

to

London,

CHINA MAIL, THURSDAY, NOVEMBER 14, 1957.

TRADE and

New York Stock Market

WALL STREET WAITS

FOR IKE'S SPEECH

New York, Nov, 13. :

Stock market activity was limited pretty much to: the essentials today as Wall Street awaited President Eisenhower's address to the nation tonight on "Future Security."

Prices were narrowly it-session

falied to but this trading regulor.

light to generate any real demand and modcrate for all but a handful many issues backed down agin

in the late dealings. of specik BLUES,

COMMERCE SECTION

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Business done on the Hong- kong Stock Exchange this morn- ing amounted to approximately $148,000. Noon quotations und the morning's transactions:

Stares

HK k

Mayern Bellara

Announcement from Cape

Interest centred in issues ruch BANKS Florido, of the Canaveral,

Bethlehen Steel, Boeing, ASTR epparent successful launching of 03

nother U.S. mirsile lifted the Standard Oil (NJ), Chrysler,

Motors, Generel INSURANCES list from early tows around mid-General

Dynamics,

LONDON STOCK MARKET

London, Nov. 13.

Of a total

of 1,158 Issues which appeared on the tape, 559 were lower, 336 filgher, 203 un- changed.

THub XD

SHIPPING Wheelcek

DOCKS, ETC. 16. Whart Dock Provident .. LAND. ETC. HK Hotel..

-10 278

70

0.30 BLIN

24 14.10

500 14

New York Sleck Exchange volume was 2,120,000 shares.

New York Stock Exchange bend volume was US$4,000,000. IK Land.. 2314 3316 200 331

American Stock Exchange Really

Britain's nizable October volume WEG 510,000 shares. | RUBBEN

gap

and

off

fears Bow-Jones

trade of a further government were:

inflation textustrins crackdown scared off traders today 20 Hails

the stock market and closed irregularly lower on light dealings. Gilt-edged

securities opened Arm but came under pressure in: later trading and closed frac tionally lower.

Leading industrial Issues were mostly easier. However, chain stores, textiles and elce. tricals staged a modest rally.

43 Bonds

closing

UTILITIES

Youmat! Light

12612735 20000 3 1.30

20.10 201 25.10 251

averages Amag XD.

430.0 Tram

104.33

13 Utilities

64.91

stecks

14 *

22.20

17.70 16.30 C. BR (N) 1830 1720

Commodity Futures

Index

181.97

eckic

Tel.

Closing Prices

22.10 216

Amoy Can..

Allen Irs. Acy,

#2536

7012

STORES, ETC.

Dairy ..... 15.00

14

23

Watson

127

101

COTTONS

4,40

INVESTMENTS.

Allied

3.10

Allied Chemicals Alded Mills Inc. Allis Chalmers Am. Brake Shoe American Akrilne

Am Cable & Radio Corp. America Cyanamid Co. Am. de Far Power Am. Mach. & dry. A mild selling wave hit oll American Meini

driving shares

Royal Dutch American Smelting

American Tel & Tel down 12/6. British Petroleum, Am. Sugar Ref.... three shillings and Shell two Americm; Tob. "1"

Was Anaconda Copper exception shillings. The the old Suez Canal Company Arinco Steel that improved another one-hall sterling.

were higher in

Gold shares active dentings.

Japanese bonds scored gains) ranging to one-half sterilng.

Dollar stocks were lower United Press.

New York Sugar Market

New York, Nov. 13. World No. 4 sugar futures today closed unchanged to two points lower with sales of 172 contracts. Domestic No. 6 sugar closed unchanged with sales of seven contracts.

World futures held steady as most traders awaited further developments in the world raw

The only sale reported early Involved 4,600 s of Cuba's to Holland with the price not in

avaliable, Domestic mediately futures continued dull.

The PHM series of air-cool-market.

ed diesel marine engines made by Potters Limited of Staines has now been approved by the British Transport Ministry of and Civil Aviation for use in both 'A' and class lifeboats. tificates of approval are available from Lloyds Register of Shipping and Bureau Veritas.

Armant ***** Atlas Cone. Mining Bakwin-Lima-tora. Baltimore & Ohio Bendix Aviation Corp. Renget Cons. Bethlehem Steel

Bong Airplane Borden (The) Ca

Burroughs Add Machine

C 11.) Co

31

INDUSTRIALS Cement

1050 g 22.20 $145 0.17.00 229 17.10 200 17.10 127 & 20.30 440 25 30

Paro

US URGED TO DROP NEW YORK

PROTECTIVE

་

TARIFF POLICIES

New York, Nov. 13.

COTTON

MARKET

New York, Nov. 13. Cotlon futures finished on

Life magazine proposed today that the United States abandon its protective tariff policy in favour of free trade to "strengthen our alliances and set new standards of world to prosperity to which Communism can aspire".

Ceylon Wants Soviets To Explore Oil Deposits

a mixed note after, trad- ing on the upside most of the session.

At the close, the list ruled two 12 points higher. The market opened unchanged to never ond higher. New Orleans

futures Anished ono point Jower

Pricca jumped early in the Pointing out that the trea

tonsiderable mill system is enterpriso

a "Arst sessión on Jnes political weapon of inter- price fixing which more than continental range, the magazine offset increased hedging on the declared in an editorial:

recent rise, "A defensive US, trade policy The buying again was attri- to tho unfavourablo represents a failure of leader-buted ship. The challenge to us now a weather in areas where cotton to take a giant slep and put remains to be harvested," or trade policy on the offen- sive. For that,

fimo 18 riper than ever.

the

FREE TRADE

Mid-afternoon realising pared

the early gaing a bit, but most of the offerings were absorbed by further mill price fixing which was induced by the 15- Suszce of the wockly weather report.

10-

"This step is to adopt the

The weather report sold cold policy of complete free trade We should declare it toward all weather and moderate, to heavy Colombo, Nov. 13.

willing to accept rains over the middle and was. 5000175 Coylon has requested the cries

certain mluimum standard's ten portions of the main beit hin- under which free enterprise can (dered or halted harvesting,”slow- Soviet government to send

opening of bills and a team of experts here to work. The U.S. gains for such ed

theduced quality. Picking in other explore crudo oil deposits, el would be immense,

In were handicapped areas

raih nad the Caylonese Ambassador cose small.

"Defence? Let the Pentagon various degrees by to Moscow, Dr G.

name the items it cannot trust cold weather.

free trade and subsidise

Mouth Malalasekoru, sold today. He said Soviet oil experts be their domestle production open-

"Readjustment? lieved Ceylon should have cony instead of by tariff. 400 15.90 siderable understa, offshore all than 200,000 US job-holders

deposits.

are vitally dependent na tarla Dec. Mar. protection; they could easily be Assisted in their transition to Total new ones...

400 38

SINGAPORE

STOCKS

Singapore, Nov. 14. Brokers today

quoled

241 | following stock prices:

P.

to

Jodiaa

Not

Volume Open, interwat

Dec.

45,700

174.100

Mar.

28.700

231 500

more

May

34200

971,300

July Oct

42.202

200

7,000

40.500

-7,000

Prices

The view was supported by Endings by a recent geologial survey, showing rich

"This is the kind of drastle New York Cotton in South Madres nii deposits

Elson- extending into the Palm Straits proposal that is probably not

In the commonsensical Ceylon has asked Russia to bower style. It is rather in give highest priority to its re- the inspired style of Woodrow to quest since Anglo-American oil Wilson at his lonely typewriter,

set or Churchill in 1940 offering t Kilcrests have proposed to up a £17,000,000 il refinery in merge England and Franco. Ceylon.

Icw sad

A Soviet mission is due in Colombo within the next days to discuss economic the industrial co-operation betweca the two countries with Ministry of Industries officials-United Prezz.

opening

Canadian Pacific R.

-1416

Cat Tractor

Celanese Corp.

121%

Balu Lintang Rubber Co.

Chrysler Malora

C. I. T. Financial Corp.

OTAL

British

Climax Molybdenum Cluett Peabody Colgate-Palmolive Co.

Bakk

Syndicate

Borneo Petroleum 1.5

45ƒ-

371%

453

Consolidated Tin Emeltera

Ord.

30/-

Commercial Credit

431

Fraser & Neave Ltd. Ord...

Commonwealth Elec.

2314

Fraser Neave 75% cum.

Consolidated Edison Continental Gil of Del. Crown Zellerbach

40%

pret

457%

Hongkong Shanghai Bank-

$4.00 Gammons (Malaya) Littled $2.12

1712

Hanoi Tin

My Corp. Ltd.

$430

201

Kumpas Ltd. (axdiv)

3:473%

51%

Kuah Kampar Tin (cumdiy)

30/00

171

Luzon Rubber Extates Lidi

$1.15

Malayan Breweries

3.35

New Serandah Rubber

201

124.

$2.45

24

Petaling Tin Lid.

12:57

4214

Rules Hotel

22.671.

093

Singapore

95

Straits Trading

(tund(V) ****

30.91

$1.8T

34

Straits Steamship

$15.25

21.18 $3.05

Cuban Amer. Sugur Diamond Match Co. Dow Chemicals

Diamond Alkal

Dupont de Nemours Eastern Afrilae Fatman Kodak

Paso National Gas Family Finance Corp. Ford Motor General Electric General Foods General Motors Gen. Pub. Utu. Getty Oll Gloden Co. Goodyear TyrгO .. Goodrich 18. F.) Co, Gulf Ou

Hayden Newport Corp. Iloinestaketining Ingersoll-Rand Inland Steel Co.

Contract No. 4 (World): Jan: 3.73: Mor: 364: May: 3,036: July: a Sept: 101: Oct: 38 Mar: Interchemical Corp. "B" 455n: Spol price; (cents per lb, fob Ini's Business Machines

Cubs): 343 Open

interest:

0040

15 Harventer International skei

Cer-contracts. No. 8 (Domestic): Mar: International Paper

0.52b: May: 680b: July: 5.0in; Sept: Ini Tel & Tel 5.85n: Nov: 4.030: Spot price: (Denis John-Manville Co..... per ib, et NY ex-duty): 5.60 Open Kansas C. Power & Light intercat! COZ

contracts. United Kennecolt Copper

Liggett Meyers Tob. Co. Prem

Lockheed Alveraft .... Loews Incorp Lone Star Cement Co. Lowenstein & Soda. Mesabi Iron Corp. Minnesoin Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motorola Ine,

The mein differences in the Merchant Shipping (Life-Sev- ing Appliances) Rules, 1952, de- Aning A' and 'B' class lifeboats is that the 'A' class bont must carry enough fuel for 24 hours continuous running and that It should be able to achieve six when knots in smooth water fully laden whereas the 'B' class lifeboat's minimum speed under conditions The anme

four is knots.

..

London Foreign Exchange

London, Nov. 13. Closing rates were as follows:

Now York

unchanged at Montreal.....

Ainsterdam russ

Milan

2.00 3/16-2.001 2.0 1/10-2.00

10.027-10.63 -140.175-140 241

175116-1703 20.00-20.00!5 1024-1153 14.30-14.50% 72.477-77.92 12.204-12.201 Zurich

Copenhagen, Frankfurt and Lab were unchanged.--United Pres.

Stockholm Vienna

The decline of Canada's Red

The rules for both classes of Paris Ensign fleet is attributed aporating costs, reckoned 80 per boats have in common the re- quirements, that the engine eent

more than for ships under shall be capable of being start- foreign registry, construction exposes, 60 per cent more thaned readily in cold weather and in sureb of running reliably abroad, and cutthroat competi-weather. They also state that tion for the International car-the engine shall operate

pro- rlage tande by countries which perly under conditions of at have restored their war-battered feast 10 let and 10 trim. Cir- merchant marine.

culating water pumps shall be self-priming."`

and

Canadian shipowners shipbuilders could glean little REQUIREMENTS

LEX

London Metal

Prices

Nation Cash Reg. "A" National Day Prod. National LARD

National Steel Corp. New York Central

Norfolk & Western By.

Owen-linols Class Oxford Paper Co. Pacis Gas & Dec. Pan American Airways Pammount Picture Parke Davis Co. Penny J. C. O. Pen Sail Co. Philip Morris

Procter & Gamble Co. Pittsburgh Plate Glass Publicker Industries Pure Oll.... Radio Corporation Radio Corn. Prof. Iepublia Steel Reynokia Mela London, Nov. 13.

Shell Oli Co. Prices of metals closed today Saint Bea, Per

sterling per long. ton as Sinclair Oil

Nocony Mobloй follow:

in

encouragement from Mr Hees'

that statement. He noted

The Petler PHM range meets amendment to the Canadian Vessel Construction Act now be all these requirements and, be- Copper apol 1919 192

qualities rad. ist half Nov. fore Parliament. would bring cause of the special

inherent in air-cooled engines,

1st half Feb. provides advantages not includ-Zinc. at half Nov. let hall Feb. ed in the Rules.

further tax reflet to ship builders, but added:

"Any mtanite of assistance

Ito shipowners and bulldors)

Deck testing is a simple mate

Tin spot 3-month

which may be proposed mauit, offer when no water-cooling sy course, bo comaldored in re terns are involved, and the

South Puerto Rico BERE Buyers Bollers Southern National G

Southern Railway (Com.] 10436 Standard Brande

Standard Oil of cal Olt of Ind. Sterling Drug Co.

Camp Stokes-Packard Comp Sunshine Mining Bwift & Co.

B134

DAYL Danz 0735 0776 71015 720

tationchip to the soil to the tax-chaine can be started on deck New York Metal

emergénéy so that Ufos

payer and the effect on our boat can get away on full power trado rolations.",

ub soon as it is nāvet. Shipping, Experts took this to

There are two horsepower mean, the government was not ratings available, in the PHIM in favour of the $5,000,000# range--the single cylinder, 73% your subsidy, groposed by the ship and ine twin cyinder 18 Canadian. Blikuwości Associa“ bälp. The PHRM models have,

maintain ́s, nucletin of 35 reverse, gear and the PHRMR Canadiansregistered merchant havn both neverno, and 2:3 obii

dietidner,

tion

Futures

New York, Nov. 13. Prices of metal futures elbaed

Tai On.

Textron Ind.

Tide Water

Twenty Century Fox Film

Salon Carbide

Inson oll

Uniors Packito Ballway

United Alrea

·UB. Fat "*73" UB, Clypeums Us. Tine

SL Gul

my dog TOE

todos in conte per lb gs follow

Lead Tor: Baqustad:"beer" 18300 gino Not Bath? D56: BI0D: Coupe (prie Nov: Angured Degi Nebim Calendard zu kuosiotachyzyjna kyynita

United Engineers Ord.

Warne Dom, ......

China Mell Special.

Exchange Rates

Busine

WAIS Gone the locaz exchange market unomical snoring at the following males:—

US dollar (per 61)

$55 Bterling notes (per £1)

Australian holes (pri 21) Indonesia isplati (per 100) Stam teal (per 100

Strupore (Beatle)

Paris Gold Prices At New High

Paris, Nov. 13. Gold prices in Paris today

their reached levels since 1952.

highest

United Press.

New York Rubber Market

New York, Nov. 18.

today Rex rubber futures

closed 25 to 40 points higher with sales of 71 contracts.

20.80b; Mar: Jan: Rev: 10.046: 20.630: 8137: 28.15 July 20.Sub: Sep: 20.05; Nov: 16.000.

Standard contract closed 25 to 40 points higher with no sales reported.

Prices

of collon fitures closed today as follows:

Spot: 25.40:;; Dog: 35,66: Mari 36.00; 23: 35.59: July: 35.35: Oct: $3,97-90 Dec: 33.8b; Mar: 33.67b; May: 33.77 No comp.

Prices

NEW ORLEANS

cotton futures. closed today as follows;

Mar: Spat: 1423 Dee: 30.630; 35.000; -May-25.061 July 30,33b; Oct: $1,170: Dec: 1337b; Mar: 5,89; May: 33.99b,

LIVERPOOL

closing

Catton futures pence per lb. were as follows: Old contract: 'Dec/Jan: 28,723: Mar/Apr: 21.00: May/Jun 2012; July/Aug: 26.12m; Oct/Nov; 20 km, New contract: Dec/Jan: 2005; Mar/Apr: 26821: May/June: 20.91; July/Aug: 20.90: Oct/Novi 20.700.

SAO PAULO

Cotton futures closings per dia, were

Nov 28.04n: Fan: 20.000; Mar: 6.30: May: 2006; July: 20.93; cruzeiros Sept: 20.9; NOT: 20,200.

tellows; Futures trading was rather

dull today, with prices moving 3359: May: 38.70; July1 BED Lu the United States,

in

Nov! urgusted: Deel 3050; Mar: the London. line. with up

offers average price of one-inch, cot- Dealers reported small

at 14 designated spot there was ton from the East but

markets: 34.27. much factory Interest.

Total sales at these markets 1 Ras was quoted

82,808 bales. cents a were at 20

Press,

The one kilo gold Ingot, which not had. climbed steadily oll last Spot No.

week, gained a further 6,000 nuninally francs to stand at 555,000 francs. pound.

Bullion dealers said the new rush for gold was, sparked off

SINGAPORE

The mail opened lower on ruled advices but

by the government's difficulties oversea

NAMESAKES

United

Answers:~~ Whitewash, 2 fakr School, 3 Clemens, 4 Steamboats, Angie, Train, 7 Play, &

in pushing through its tax plans quietly steady at lower levels. with fur shoricovering interest. ths and the threat of a civil servants'

in wors Lower sheets strike.

demand but unill afteravon jõ

bids raised to narrower Mischief, D Adventures.

Tom Sawyer. when afficrentiels sellers reserved

Factories bought email quantities. Closing price:

5.1"

12.00 14.20

The pound sterling touched a new high of 1,250 francs on the unofficial market, compared with 1811,23 yesterday,Reuter.

The US Must Keep

Pace With

Offensive

Russia's

Fresno, Calif., Nov. 13.

A State Department official said today that the

THREAT

01

No. 1 roubar pér Jh. Nov.

Dec.

No. 2. rubber per lb. Nov. 2231-744 No. 3 rubbar per lb. Nov.

Spet rubber unbeled Bankes crepe

No. 1 pale crepe...

LONDON

29-09

Wherever

you're gelug...

7495-75%

06-00

EUROPE

The markot WAS slaadior with spot quoted at 223% pence

-lb.

Day 04: 221-2215-

221-22

ttlement house ferma: Dec: Jan/Mar: 22-2 with

paid Apr/June: -23% with 25-232 with 226 pala; Oct/Dee: 15553 with #316-235% paid.

with

paty

General nurkat: cif baxis portá, Nov 22LMS: Dec; 2012.

· Estats crepe. Taki Nov: 234-234;

GAINS EXPECTED

IN ALUMINIUM

United States must expand its reciprocal 29 : %£%~ trade programme if it is to keep pace with pec: 153-231). Thick Nov and Den: Russia's new "economic diplomacy" offensive."--United Piem, "We must have a trade pro-liberal trade programme has Congress, in growing gramme that will enable this been country to move forward, not particularly among Southerners said Mr W. T. M. who once championed it. Their backward,"

Assistant opposition has grown with the Beale Jr, Deputy Secretary of State. "The choice expanding industrialisation

Pilisburgh, Nov. 13. lies between trade co-operation the South.

Although use of steel and coal and trade Isolation."

Despite this, Mr. Beale said, President Eisenhower intends may deelne somewhat during to ask Congress again for 1958, gains are explated in

authority under the uniofum, chemicals, contruc panded

Act to cut on whíd electrical machinery, Mr Beale, in a spooch pre trade agreemIDDLE pared for delivery to the Call- tariffs on a reciprocal basis and according to Opinions expressed fornia Farm Burnau Feşleration, to approve US. mutmbership in the University of Pittsburgh.

now the Organisation for Trade Business Prospects Conference.

Mr. Widmer, i Républic had 215 trade and payments Cooperation. (OTC), an îng me reducing

Steel Corporation - Economist. agreements with mol-Cometernelotzal agency for

that steel output fudia dailons and Russia Was trade barriers.

Pecoricenie diplo

Arop Between four and Congost has boin sed to predicted pressing its maug" offensive among fingers three previous year to sue the pacent next year. On the prove membrulhly in OTC but other banki, M. Strauss, developed countries.

"I believe that if the United has not acted on the request. manager of Commercial ....... ite- air Besle said both the seach of the Aluminium Cory- States were

check the momentum of its trade agres ciprocal trade ack and the Old pay of Americs said total mom progabile, the movies work "mong the tools that fuminium supply for 1958. threat in the trade one could, AT ONCE? DE I PRCORSETI. SRouffre by 7 per cent is Toomain NAR DE GARte. 1.5. kado bellay, me Login 227 million

Special Opposition to the present › Proks.

2431

said: Communist nation

USA

ORIENT

ROUND

WORLD

You can fly

sall your