1957-11-20 — Page 9

SHIPPING

COPRA: TOP IMPORT OF LOS ANGELES

Los Angeles.

afar-reaching Copra has

effect on the standard of living of people the world

over.

Although best known as a must ingredient in shap, the Int of copra's uses is endless-rang-

ing from margarine, cooking Tate

end candy to perfumes, pination

ned explosives. it is even us

for dairy cattle focd.

foreign

Recently released trade statistics spotlight the-im- versaille by- portance of this product of coconuts to Angelor. Coffra

general

menager Caughlin,

September. occurred early in what AVELB when the U.S. Congress lifted an

exelse.fax, levied in 1984, which collected on the initial pro- cessing of coconut oil," he said. "Congress has decided copra- crushing mills are

needed to produce a supply of coconut oll adequate fot military And rential civilian needs under emorgency conditions."

LIBERIA'S "FLAG

OF CONVENIENCE"

TRADE

Pare

THE CHINA MAIL.

WEDNESDAY, NOVEMBER 20, 1957.

and

COMMERCE SECTION

-NEW YORK STOCK" MARKET-

Italy: Rag

HONGKONG

Malayan

Tin Industry

Sydney, Nov. 19. Varfod results in the Mala. yan tin industry were

reporetd today for the

flacal year 1956-57.

Dulles' Warning Tumbles Wall Street Stocks

New York, Nov. 19.

A warning by Secretary Dulles that economic controls may bo necessary to cope with possible inflationary pressures sent stocks tumbling today. tho

The annur report of three

in operating companies London, Nov, 20.

Austral-Malay group showed:

Austral Amalgamated, the Los More new ships are being

under the largest producer in the group, registered topped all

sharp advance in other commodity importa

Liberian "Flag of Con-reported a

curnings with earnings of (excluding petroleum) crossing.

venience" than any other €291,246, an increase of £71. the wharves

Angoles o! Los

national flag, Lloyd's Re-669. The combined output in- Bacal 'M, ending Harbour in June 80.

gister of Shipping dis- ercased 1,128 tone to 2,246.

Directorn reported that' closed today.

further increase was expected.

"And there is, every indication the total of 94,710 tons will be exceeded in 1068," general manager Bernard J. Caughlin sald.

Nearly 85 per cent, or 92,000 tona, come from the Philippine Islands. The remainder: Japan 603 tons;

shipped

British Malaya, 010 tons; and Oceania,

801 tons.

Copra meal and cake provided an additional 21,390 tone, boost ing the combined toial to 118,105 tons.

GIANT PUMPS

Chief consumer of copra in this area is the Vegetable Oil Products Co. For the past 37 years, thla frm has operated a copra-crushing plant closs to the

port.

I

The total world tonnage was 110,248,000 at July 1057, an In- crease of 5,046,000 tons over the car before. This is an increase

41,000,000 tons since 1039. made up principally of: U.S.A. 14,500,000 tons; Liberia 7,500,000; Norway 3,000,000; Panama 3,600,000, and Britain 2,000,000

But the increase in the past went consisted

Liberla of: 1,882,000 tons; British Com- monwealth 478,000; Norway 453,000; Germany 300,000; Italy $55,000; Japan 9389,000; Holland Panama 329,000;

203.000; Greece 164,000; Denmark 102.-

126,000; 000; Sweden

Russia 73,000: Franco and Spain 67,000 coch.

1

Losses had extended to more than five points in such favourites as Blast

man Kodak,

STOCK EXCHANGE

Our Own Correspondent.

Business done on the Hong- kong Stock Exchange. this

morning amounted to approxi-

mately $394,000, Noon quota tions and the morning's trans-

actions were:

Sharep

BIC Bank **

Then in the last few minutes of trading some of the leading issues, includ-DANKE

ing Eastman, came back in response to indications, of further credit loosening.

Rafirood issues at new, lows

South Puario liep Bugar Southern National (lox for nearly four years, tod the

Southern Railway (Com. Standard Brands market down, They featured In turnover and at the lows ro- Standard Oll of Cal gistered declines ranging to Standard Oil of Ind Standard Oil of NJ. more than three points. All Sterling Drug Co. other sections joined the de- stokely-Van Camp.

Studebaker-Packard Corp. cline. The late recovery was New

Bunshine Mining too hardy to bring measurable Butt Co. profit.

Austral-Malay, holding com rany for the group, repórted a proft for the year of £31,150, an increase of £4,127. The company studied promising tin bearing ground near the South Wales town of Ammaville and plans to explore areas in Slam.

1

Motors retreated by fractiona. Pungah in profta fell sharp-Steels had losers running to

more than a point. ly as a result of poor production End increased operating costs, The pront

д £29,740, Was declino of £21,541.

that re Directors reported venue for the last three months was ineuffelent to meet work- Reel doing costs. ions and

Tin

Kampong Kamunting There has been a boom in logain remained Idie during the tanker building since the war year-United Press. 84 per cent of all shipa under ave years old and over 16,000 tons are tankers,

The United Staic Giant pumps installed at Lasereased by 235,000 Angeles Harbour's Berths 187 Argentina's by 11,000, and 174. Buck copra directly from a ship's holds to hopper carts. On transfer to the plant, the ebgra I put through redning, hydrogenating - and deodorising processes to become vegetable oils which go into

food and by-products for industry.

Over the last few years Vegetable Oll Products has Ереп pround

million $4 modernising and expanding its facilities in expectation of im- porting ever increasing tonnages, according to a spokesman for the Arm.

In Ascal 57, he pointed out, his company imported 100,000 including short tons of capra, coke

from the

meal. and

Philippines. REASONS

The Islands' dominant position in this commodity can be traced

to a variety of reasons but, certainly, the most are:

important

postwar the

o!

Since the carly they have period

been world's leading producer coconuts. Trees planted in the late 30's had reached bearing stage by then.

•

Coconuts

grown on

the

|

SUPER TANKERS

Most postwar ships are in the 10,000-18,000 ton class, and 75 of these are jankers, Fei cent

a jump in Lust year also saw

super-tankers" or over 20,000

lons.

of

SINGAPORE

STOCKS

Singapore, Nov. 20.

quoted the Brokers today following stock prices;

Wartime building was mostly ships, but of 8,000-8,000 ton

Opening much of this, Including the United States Reserve fleet Batu Lintang Rubber Co. L. 170

Britia Barnes Petroleumi 12.750,000 tons is not in com Byndicate

#57- mlesion.

Consolidated Tin Smeliera

20/04 Ord. tankers total of The world

& Neava

Reave Lia. Ord. 1200 has increased by 1,727,000 since raker Neava 1345 eum. 1950 and at 29,038,000 tons is new 27 per cent of all steam- Gamingule (Malaya) Limited $2

Hongkong

Shangbai ships and motorahipa. In 1939 it was 10.9 per cent at 11,060,000

tons.

A

Banking Corp,

Hongkong Tin iad.

6430 2/04

01.52

Kumpas . .... Kuala Kampar Tin Lanas Rubber Estates Ltd, $106

Malayan Breweries...

Serendah Rubber Co. Felling Tin Lid, Raffics Hole Borge Singapore Cold Biralls Trading

Liberia aquin has the most new registration with an in-

tons since. Frease of 959,000 1980, giving her total of 4,143,000 lots.

The British Commonwealth still has the biggest share of tanker tonnage with 5,951,000 tons, an increase of 281,000.

Philippines are sild to be top | OTHER TOTALS quality.

• Close political relations between

the

topher's leading

Other tot la with changes

in

the Islands and U.S. Brackets are: Norway 4,747,000 USA. 4,143,- faster a two-way trade, with increase (87,000);

|000 (drerense 08,000); Panama export,

(increase 69,000); providing the mator 2,135,000

nceded for Italy 1,342,000 (increase 40,000); Frence 1,304,000 (increase

copre,

ahare of dollars

American_imports.

In the five-your period ending 45,000); Holland 1,117,000 (in- in 1930, the Philippines shipped crease 34,000); Sweden 938,000 an annual average of 879,100 (Increase 62,000); Japan 848,000 long tons of copra of the entire Clauercase

tons).

G0,000);

Gains Erased

Texas Co

Textron Inc,

Tide Water Aen. Oll

Twenty Century Fox Film

Union Carbida"

Union all of Cal

Union Pacife Hallway

United Alteraft -

U.S. Fall "B"

U.B. Gypsum

U.S. Line Qu.

B. Rubber

the

U.S. Smelting

U.S. Steel Warner Bros.

A

Today's Jonses plus those of yesterday wiped out all

mado by guins

the general average on Friday when the market was responding to eut in the discount rate made by four federal reserve banks.

Volume picked up at last'] minute to total 2,240,000 shares compared with 2,110,000 on Mon- day.

Of a total of 1,178 Issues Iraded, 668 wete lower, 273 higher, 237 unchanged,

On the American Stock Ex- change soles rose to 610,000 shares from 500,000 shares

on Monday,

Bonds volume was US$4,- £30,000 today against US$5,- 870,000 on Monday.

Dow Jones were:

30 Industrials

50 fals

10 Utes

65 Stocks

40 Bonda

closing averages

NEW YORK

COTTON

MARKET

New York, Nov. 19.

SHIPPING

Dayer Bellota

Wheelocka DOCKS, ETC.

K. Whart. Dock

604

670

Unles

0.00 6.30 6,500 6.70

[17

P*villers (0) 1143–11,70

14 16.90

LAND, ETC. US Hotel IK Land 33 Humphrays. Realty

RUDDER

Amalg.

Trust ....

ÚTILITIES

·

300 3304

10,000 1,33

1.35

1.24 1.33

2,000 2,000

10,900

Trem 52.70 Star Ferry.. Yaumall

22

024 3t

Centre Of The World

Ottawa, Nov. 19,

Italy has emerged as the

rag centre of the world and has supplanted Bri- tain 45 the world's largest exporter of wool cloth, a representative of Canada's textile industry told the Tariff Board to day.

Francois E Clyn, general manager of: Lasch Textiles Lid, Huntingdon, Quebec, appearing afa witness for Canada's textile industry at Tarift Board hearings here, cald, that Italy was a "great threat" to Canadian woollen. Industry,

tho

"Italy has suddenly emerged as a big competitor of wool 15.00 cloth on the Canadina finrket." said Mr Cleyn, "It is not only competing with Canadians on the market but also with Bri- tein.

THE CENTRE

"In certalis.areas of the woollen trade, I can see no

Colton futures today ruled Light (0) 19,56 18.60 1.000 18 limit to the competition Italina

C. Light (0) 17.40

1,000 182

300 ve 1515

2,700 18.40

100171

150 21.28

alternately

291

steady and unsettled as traders. con- solidated accounts follow-

1,000 or 173%

BDIG

Bit

07

ing the recent rise to sea. sonal high ground.

Flectric .... 27.30 27.50

$00 £1,33

120 2120

Munited" "Press.

500 6 27.30

P§D @ 20.23

500 10 40.70

Westinghouse Klectric

West Va. Pulp & Paper Waulworth

Post-opening losses up to Telephone ..

New York Rubber increased hedge

Market

New York, Nov. 19. Rex rubber futures today closed '78 to 90 points higher with sales of 177 contracts. Closing prices:

25

woollens could give Britain on the Canadian market."

Ho said that the centre of the Italian

woollen Industry was in the city of Pruto--which had become the rog capital of the world". Pralo brought great supplies of the world's rags and through

a long, in- 19.10 18.60

bourious and dirty provou turn. 120 12.30 100 12.20 these rags Into wool fabrica".

"They do not use now wool to make the fabrics; just rugs," sald Mr Cleyn.

US$3.25 bale were practically all erased by mid-afternoon, INDUSTRIALS 21.00 although the upturns attracted t

STORES,

ETC. selling, and Dairy technical realising.

Wetson Closing about mid-way be- COTTONS tween the day's high and low Textile ..... 4.48 levels the list showed not losses Nanyang

of four to 20 points. The market INVESTMENTS

1.35 Yougte*** opened up four to off 15 points. Alfed-, 3.50

New Orleans closed off three to

7 points.

Factors imparting an overtone of steadiness Included:

⚫ Continued

Nov. 2000 traded: Jan., 29.05.10 crop: traded: lar. 20.10 Leded: May. 132.00 20.1561 July, a Sept. and Nov, •

(1850), 26.15b.

431.79

Cominodity futures index. 162.50

Closing Prices

Aldon Inc. A

American Cable & Stadio Corp.

15,42%

Allied Chemicals

Allis Chalmers

$3.49

American Airline

$2,87

America Cyslainid Co.

30.03

Amer, & Forge. Power.

120

$10 20

1124

13.124

eum-Ching Mall Special.

Steamship United Engineers Ord. Wearne Bros,

LONDON STOCK

MARKET

London, Nov. 19. Denmark The stock market closed

securities failed

ed in listless trading.

Amm, Mach, #dry. American Matala... American Smeltin Am. Buyer Rel American Tel & To American Tob. "B" Anaconda Copper Armco Steel Armour

Atlas Cona. Mining Faldwin-Lima-Ham, Baltimore & Ozie Bendix Aviation Carp. Benguet Cans,...

Beteliom Steel

Boeing Airplanu

Borden (The) Co.

Burroughs Add Machine Canadian Paelle R.

Cano ¡J. 1) Co.

Cat. Tractor

elante Corp.

C. 1. T. Financial Corp.

Climax Molybdenum Cluett Peabody Colgate-Palmolive Co. Commercial credit Consolidated Edison content

Crown Zellerbach ... Cuban Amer. Sugar Diamond Alkali .... Diamond Malch Co, Dow Chemicals .... Easter Airline

20%

unfavourable

942

1,000 12.30

FIRESTONE EXPECTS

A further budness picke A RECORD

up in the long-dormant textile

underlying demand PROFIT

Standard contract closed 73 to market; 22 points higher with no sales

• An reported. Closing prices: All from domestic rominal,

of

textile mills while shippers covered against export sales to Spain.

Nov., 27.50; Jan. 28.07; Mar., 23.10; 10 M 28.18; July, 28.20: Sept, and

Evening-up in the December Nav, (1088), 29.23.

The terminal market derived delivery, before first notice day

strength all of its

from the on Friday, provided another

which feature. " slurp London uplum,

The certifed stock pointed

up news

sub-remained at 7,247 bales. siastial" Russian buying in that market, and expectations Manth for

continuation of the Dec. Soviet deroand.

Local dealers, commission July houses and other trade

91 with the

31.300

MAT.

Volume Open interest

• 120,600 24,000 #43,000

May

in-Ort Bec

30,100

295,200.

42.000

182,000

10,700

117,000

4,600

50,100

13,000

1116 terests were buyers on balance, Mar, market at one time May showing gains up to 1%

cents

Tolol

the

a pound. Realising and hedge

2 selling supplled most of

do

contracts.

2.800 1,000,000 bales

Orange, Texas, Nov. 19. Firestone Tyro and Rubber

Company expects to re port record sales and earninge for its fiscal year ended October 91,

to according officials who were, here for the official opening of a butadiene plant.

company

Mr Cloyn said

the

new

process cost the Italians about 12 cents

a pound to produce

wool fabrics, which is one- Aftoonik of the cost of, wool fabrics made in Canada,

ANOTHER

The Tariff Board also heard .of

to the another threat. Canadian textile industry, this one from Japan.

W.M. Herry, executive vice-president of the Primary Textiles Institute, sald he had recently visited Japan where low wage, effelent textile in- provided R "major dustry potential threat to Canada's textile and garment industry.

The Canadian textile industry os asked for tariff increases on woollen imports from Britain, the United States, Japan, Italy and Wost Germany.United

London Foreign Exchange

Mr Harvey S. Firestone, Jr., Chairman of the company, sald | Press. 2,100/

final figures for the past fiscal 185,000

year were not yet available, but all indications were that the LIVERPOOL

company set new highs in sales Colton futures closing. I

In the current scal, year, Dealers understood a good | pence per ib. were as follows: Firestone was continuing to business passed in the ship-

Dec/Jan: 23.10; show sales gains in most phases Old Contract: Mar Aur: 29 May/June: 26.400 of operation, including tyres. ment market at Brm pricos,

July/Aug: 28kin; Cainov: 26,637, reported sales included" one New Contract: Dean: Min: He said he was generally

London, Nov. 19. Foreign exchange gales closed sheets for Nov-December, at 27 Mar/Apr: 27300; May/June: optimistic about the outlook for cents in the

as follows: the year, despite indications the forendon with July/Aug: 275m; Oct/Novi 27.1m. 501ater buyers bidding_up

ceonomy was generally showing BAO PAULD

New York some soft spots. | 27-3.8 cents a pound. Spot No.

Montreal 1 Rss was quoted at 27% centa

-futures

The butadieno plant here has Amsterdam nominal,

kilo per

ja rated capacity of 40,000 jons Brubels

annunily and has been in.opera- Frankfurt tion for more than three months.

Zurich Doo: 27.00; Mar: 19.70; May: 19.80:The plant currently in producing was July: 20 60: Oct 90,00.

214

201

254

Dupont de Nemours

£75

30%

Eastman Kodak

933

Ei Pos National Gas

Family Finance Corp. Ford Motor

241

43

irregularly higher on Chrysor Motors.... world. Forty-six per cent of it 388,900 (increase 73,000); Ger- (403,987

long

was many 392,000 (increase 49,000); light trading.

841,000 absorbed by the US.

(decrer so Argentina Another

Gilt-edged exceedingly import- į 1,000); Spain 268,000 (increase ant market for the Philippines 12,000); Russia 210,000 (de-to respond to a strong showing 13 Europe. Dairymon and cattle crease 1,000): Greece 170,000 and finished the day unchang raisers, espeelnlly those In (Increase 24,000). Denmark, the Netherlands and Other trends are that inglor Belgium, have for many, years ships powered by diesel engines

Shaken by yesterday's drop beon feeding their stock copre | are displacing steamships; Wall Street in early deal

copra in coke-dried

which steamships are

switching from Ings, most Industriais recovered much of the all bas been conl to oll and the turbine la

and closed with gains of up to extracted by great hydraulic gaining at the expense of the

a shilling. reciprocating steam engine,

Olt issues were mixed,

Ob- General Electric STOCKMEN

Motorships total 40,983,000

встуста noted In considerable General Foods Currently, an increasing tons, an increase of 3.282,000 luzetanco among investore to General Motors number of American stockmen tons, and oil burning steamships commit themselves in view of Getty D mostly operating along the are up by 2,353,000 to 40,760,000 uncertainty over British Peiro Glidden Co Pacino Coast and in

leum's chance of raising nead- Coodrich (B) cs. California, ars following the

Coal-burning steamships felled new capital.

Goodyear Tyre ... Gult ....M lead of the counterparts in by 859,000 to 8,583,000 tons.

Heyden Newport Corp. Europe.

Turbines Increased by 2,187,000 | Foreign bonds were mostly Homearahe Mining Co. But a far greater Indication of tons and reciprocating englues unchanged in vay quiet trad-inferrell-hand an increasing US, demand for copra In the months ahead, lost 388,000 tons-Reuler.

presses.

Southerntons.

according to the harbour's

Ang.

Dollar stocks were adjusted

to yesterday's lower prices on Wall Street United. Press.

London Metal Prices

Landon, Nov. 14 Prices of metals closed today

In sterling per long ton follows:

Copperpot

Lend

Kihe

חת

as

Gen. Pub, Ul.

Inland Steel Co.

Interchemical Corp.

Int'l Business Machines

int Harvester

Internaubnal Nickel

International Paper

Int'l Tel. & Tel

John-Manville Co.

Kansas C. Power & Light

Kennecott Copper......

| Liggett Meyers Tob, Co.

Lockheed Alrareki

Loews Incorp.

Lona Biar Cement Co. Lowenstein & Bons Moabi Iron, Corp. Minnesota Mining Mission Development Monato Chemical Co.

Montgomery Ward ·

Motorola Inc. National Cath her. "AY Buyers Seller Nasional Dairy Prod.

V NEW YOÈK METÀL

MARKET

New York, Nov. 19. Prices of metal futures

National Steel Corp.

New York Central vara Nortolk & Western zy. Bliss Malhie00

LONDON

The rubber market teady with spot quoted

23-9/10.

ما

at

No. 1 Ray spot: 2314-23%. Bettlement` 116980 204%

terms: Des 2434-2016 with 2ay-asti puids Jan/- AT: 25%-4311, 2016-2356; Apr/June: 2431-083 24-94151 July/Bent: 90%- 14; Oct/Don: 2412-2496, 2436-2456.

General markets, clf basin ports: 2315-2016: Nov: 23 buyers; Doc: Jan: 3X31-2}{.

201

sellers.

Cotton cruzeiros follows:

closing in 45 were

2.2015 2.80-9/10 2.09% 2.00

10.03)1⁄2 10.03% 160,0714 140.124)

11.771 13.121%

20.00 20.00

12.77% 11.236.

Milan,

Copenhagen, Lisbon,

In the United States, the at a rate of slightly in excess average price of one-inch cotton of its rated capacity,China Paris, Stockholm and Vienna At 14 designated spot markets Mail Spectat.

was 34.04 centa.

Total sales at these markets

wore 107,410 bales.

PAKISTAN

The cotton market closed fro Estale crepe: thin Nov. un at its highest level duo to pro- quated. Dec. 243% nomine, minent houses buying. The Thick Nov, unquoted Dec. 24% hullah, neiuro of American гороты and unconfirmed rumours about China enquiring pica alded the

upturn. Up- country selling dried up on the upturn. Sentiment was slightly bullishly inclined.

rupees): 4-F,

SINGAPORE

The market operied around 2016 previous levels and stoadled 14 during the day on short covering pnd trade buying. There was fair

STIL

Spot Aloe (in suplad.--United Pigear.

654 interest for lower sheets and re-Punjab Roller Gin: 70: Others un

Exchange Rates

Business was done in the local

market tido-

5

mills bul factory interest was

23

meagre. Closing prices:

No. 1 rubber per ib, Nov. 16 2033

No, a

Nov. 70

No. B

7312 74%

No. 4

Spot rubber unbiled

迎

275€ 2012

Blanket' prope

01 83%

unofficial exchange morning at the following tater: Ü.B. dollar (per $1) Sterling notes (per #1) Austrailen notes (per 1 Indonesian rupiahi per 300) Biam cal per 100) Bingapore tra

1540

1940 .10

No. 1 palo tepa

:NAMESAKES

2 Woodgram.

Stagecoach, 3 Comedy Winkle, Agreed Morchant Rates

Adventures, 6 Bardell, 7 Floot,

. **ནཐཾ༔

Pánilo Gàn & 500,

Cockney, Pepero. Ben Weller,

Svilas Franes: maximum ediling ZA ZEL

SHIP

BENDLINE

SAILS:

were unchanged.--United PTOU.

P.O

R.M.S. "CANTON"

NOTICE TO PASSENGERS

BAGGAGE:

Friday, 22nd November, 1957 at Noon for the UNITED KINGDOM, via Singapore, Penang, Colombo. Bombay, Aden and Port Sald,

.

','

oquested t Passengers are requested to send ALL BAGGAGE to the Hongkong & Kowloon Whart Co.'s Godown No. 2 GATE, CANTON ROAD ENTRANCE, By Noon on Thursday, 21st Novem ber.

[SPECIAL NOTE: With the exception of hand packages carried by passengers thetysbives, ALL BAGGAGE must pass throligh the Wharf Company's Godown for loading on board by ship's elings only.

EMBARKATION: Passengers should embark between -0.80 and 11:00 am on Plaid Novem-

ber, 1967.

JEST TO AL

Copra Arom the

Dedi

hopper car