1957-12-05 — Page 9

1

DING

THE CHINA MAIL, THURSDAY, DECEMBER 5, 1957.

TRADE and

COMMERCE

NEW DESIGNS FOR CANADA'S LARGEST Moderate Turnover On The

RIVER CRAFT

London. River and canal shipping in

Europe is being revolu tlonised, with the Rhine до a pllot and experi mental ground. This is the opinion of large com- panies, such as Krupp, Hocach, Navigation Fran- caise Rhenane, Salzgitter and others which have) been investing heavily in "pusher-navigation" and amphibious bulk carriers. The former are the modern river craft of today; the latter may weil prove to be river craft of tomorrow.

SHIP LAUNCHED

Montreal, Dec. 4. The largest ship.over con- structed in Canada wILS launched here yesterday with the warning that unemployment In the country's shipyards would increase without Federal. government support for the industry.

J. E. Richardson, managing Ltd., made the statement at the director of Canadian Vickers launching of the 20,000-to осо carrier Alexander T. Wood.

"Shipbuilding in Canada is having u difficult Ume,” he said, chiefly due to the high wages being paid in comparison with yards in other parts of the convoye of Ava or world."

force and essential

Today's solution is to replace | the slow Boven bags towed along, the Rhine, by "pusher-propulsion." COMPETITION Large single or twbi barges are "Competition la propelled forward by a "pusher † worldwide and it is und behind the stern of the in my opinion the government vessel. A 10-yard wide wooden should give this problem frane joins the pusher unit to serious consideration," he the vessels. Flinking rudders added. enhance manocuvrability.

Similar techniques have been used on the Mississippi, the Irra- The firet waddy and the Niel app.ication in Europe, using two diesel engines of 030 horsepower, Wis successfully irled by in Navigation Francaise Rhenung

when carly

In October,

11 curried 1,700 tons of ore from Rotterdam to the Nuhr in two borges linked together.

PROGRESS

Only half of the customary

The 578-foot long vessel was launched by Mrs Alexander T. Wood, wife of the President of Wilson Marine Transit Co. of Cleveland, in whose honour the craft was named.

The vessel, largest dry-cargo ship ever built in Canada, wan designed to carry ore from Seven Íslands, Quebec, Lo United States seaports.United Press,

ls needed and this env NEW B.P. TANKER

SUBSIDIARY

entails others. Space for ac commodating the crew is saved which, in

for turn, makes quicker and cheaper building. Beyond the progress of today looms the revolutionary new approach of amphibious naviga- tion. The scheme of amphibi- ous bulk carriers is ploneered by a team of three, the State-owned Salzgitter pany,

Horsuh,

On The HONGKONG

New York Stock Market

New York, Dec. 4.

STOCK EXCHANGE

Our Own Correspondent

Business dine on the

morning amounted to approxi-

tions and the morning's trans- nctions were:

Stocks hold firm on moderate turnover early today with scarcely a dozen issues moving outside a fractional range. Upside features included such missile issues as U.S. Borax, up 14 to

$512, International Business Machines, 4 higher at $817, Foote Hongkong Block Exchange this Mineral, up a point to $45%1⁄2, American Potash up 14 to $42, Bathmately $200,000. Noon quota- Iron Works, 3% higher at $49 and Chance Vought, up 14 to 831. Allintic Renning picked up 1 Stokely-Vau Comp 14 points to 444 in a general-Studebaker-Packard Corp.

Bunshine lining ly narrow all group. Newmont swir. & Co. Mining gained 1% to $71. Texas £25.

to Textron Inc. American Smelting a point $40%.

Western Maryland, off sharply yesterday (5) dividend dis- recovered 1% to appointment, $52%

Improvement

Tide Water Asm. Dif Time Inc.

OAME

Twentieth Century Fox Film Union Carbide Union of of Cai,

Union Pacifle Railway United Aircraft

11) United Gas Corp.

3% UB. Foll "D"

US. Gypsum

20

U.B. Line Co.

U.B. Rubbre

US. Smelling

24.3. Slee! ...

道

434

Warner Brus

Westinghouse Electric

Western Union Tel, Co.

West Va Pulp & Paper

2stixa | Woolworth:

054

2014

United Pres.

SIXTY NATIONS | REFINERS GET

TO DISPLAY

American THEIR WARES

There was fractions1.improve- meal in Du Pont, General Motors, International. Nickel, Kennecott Copper, Westing- Louse Electric, YoLogstown Sheet

Tube, and Telephone.

The market closed later to- day with a total 1,176 Issues i appearing on the tape, 541 were higher, 355 lower, 277 un- changed.

ex-

RAW SUGAR FROM US GOVT

shared Bayern Baligra BANKS JM Bank..

845

058

20 48 16 0.840

SECTION

Page

Canada Imports Salmon From Japan

Ottawa, Dec. 4.

LONDON STOCK MARKET

Fisheries Minister Angus MacLean told the Com- mens today that Canada would continue to Import Japanese canned salmon until 1958. when "ample supplies" of Canadian canned salmon would be available.

MacLean jald that canned salmon had to be imported from Japan because of amali animon catches by Canadian fishermen in 1968 and 1657.

**The canned salmon Indus- try

is of British Columbia confident that tho Lombard

shortage of sockeye salmon la only temporary and that in SHIPPING Wheelock •

0.00 1000 5.00 1038 ample supplies of Cane- dlan production would again DOCKS, ETC. K. What

be available," MacLean sold. 200-218

"Approximately 105,000 cases Provideni.. 11.00 11.30 1000 11.00 of sockeye salmon werd £m- ported from Japan in 1950 and In the same year, about 40,000

and casts of pinks

approxi- of Cohoe were mately 40,000 imported."

INSURANCES Uplow

781

0.00

LAND, ETC. Inc, Hot.. HK Land

Really

HUBDIR Amalg

110 110

18 40

33 33% 184

.1.30

2003

1.25 -1.50 20000 @ 1.25

00000 1.18 1.2755 T000 @ 15

£5

****... 25.00 20

23.60

Trust UTILITIES **Fam

- 21.70 22.90 800 280

600 New York, Dec. 4.

Washington, Dac. 4.

Yaumati today at XD 12.30 1730 Products from 60 or more The government

Electric ... 20.50 27.10 1500 be on nations will

funnelled additional raw

Tel hibit when the United sugar to rafiners in the northeast where a year- States World Trade Fair takes over the Coliseum and shortage is develop- | INDUSTRIALS here for its second Ing. annual Trade Exposition

The Auriculture Department Dary on May 7-17.

also cut the total quola for

In this Wataon marketing raw sugar 20 Taji

country during calendar 1957. CTAW 1360

COTTONS by 75,000 tons to 8,078,000 tons.

Texule

4.50 INVESTMENTE pro- Yangiard

Jovert

New York Stock Exchange bond volume was $5,040,000.

American Stockt Exchange volume, was 600,000 shares.

Dow-Jones elcsing averages

were:

Closing Prices

34 incitafiale: 448.87; London.. 10028 10:04.00. Comin 15 uusies: €7.75; 60 stovies: Part of the British Petroleum

future price index: 103.35, Moody's Company's growing tanker fleet index: is to be operated by a subsidi. ary, BP Clyde Tanker Com- formerly Petroleum and the engineering Steamship Company. This will Alden Inc. AY. of Orenstein and

be managed separately from Allied Chemicals the group's existing shipping organisation, BF Tanker Com-Am. Brake Shoe

company concern Koppel.

Standardized steel containers of 50 lons capocily are used interchangeably on waler, rall end roud, practically eliminat- costs which ing onshipmen!

for bulk commodities, such as ore and grain, account for 40-80 per cent of transport costa

bo

Up to 120 of these 30-fool. long stret containers can linked up to long dragon-ehrped rufts equipped with two on- sincs, one at the bow and one At the stem of the steel-tube raft to ensure easy navigation. "HARBOUR"

pony.

BI

Allied MIN. Eno,

Allis Chalmers

American Airline

The new company will re-

American Cable Ez fladio Con American Cyanamid Co. ceive initially ten kankers, most

Amer. & Forgn. Power of them in the 12.250 dead- Am. Gas & Electric weight tons class, from

Ain. Mach. de Fury. Am. Sugar nef....... Tanker Company. Up till now

American Tel & Tel il has operated about

nine

Anterican Tod. "B" small vessels, mostly tugs, and Anaconda, Copper this fleet of small craft is

Arco Steel 70 Armour...... be distributed olsewhere.

Aslar Cons. Mining The intention behind The Balwin-Lima-Ham. formation of this new subaidi-

Baltimore & Ohio Beneficial FINAZOR ory is to shed some of the

Bendix Aviation Corp. growing adrinietzaljve load | Benguet Cona. Borne by the HP Tanker Com-Bethlehem Steel

pany.

The cylindrical containers can be hauled up on a slipway and placed on railway bogies and, Conversely, they can be winch ed into the water. They can be tilted-so that are carried in these cars can be dumped in factory yards,

inta j straight furnaces and grain on to eleva-

tor

The Art amphibious "tr- bour" was stalled at Dortmund a few months ago by the Hoesch company. Landing installations required a space of only 1,300 Grabbridges and square feet. crane installations can be dis- pensed with. A payload of 50 tons can be landed within 8-10 minutes,

which is about one- The third of the usual time.

to

At present 5 million dead- weight tons of tankers are bc- ing operated in the BP service, Including ships owned by the BP Tanker Company, by asso- ciated companies and ships on charter. 148 tkakers, agate-

2 gating well over miilton tons, are flying the BP Tanker

house fing. Company

In addition, 71 totalling over 21⁄2 million dead- weight tons, are on order the BP group.

tankers,

CHEAP PURIFYING

container is lifted out of the OF SEA WATER

water on to a supporting frame,

mounted on two-axle bogies.

Technical

weight 15

data include:

clearance 13 yards.

for

new been

· London. Sea water may be able to be tons, payload 51 tons, length 13 yards, bogle converted to fresh water at a cost of about 20 cents (U.S.) per

gallons. A Herr Ganzenmueller, of the thousand

economie method has research team of Hoesch, men-

by tho Maxim Company. n leading lencer supplier of sea water distillation equipment to the US, Navy and mary shipping lines.

tlons two mejor advantages:armounced transhipment costs are reduced a fraction, about 2 to 2.5 per cent of the conventional Transport; a payload of 3,000 tons regidres a crew of six, 09 against 12 men needed on river barges.

STOWING HEAVY

CARGO

London.

A special "pair" mast or

Boeing Airplane Borden (The) Co. Burroughs Add Machine Campbell Soup Ca Canadian Pacile H Case (J. 1.) Do. Cat. Tractor

Celance Comp C.4.T. Financial Corp. Clayaler Motors ...... Car Molybdenum |Cluett Peabody

Cokente-Palmoliva Ca Colombian Carbon Co. Commercial Credit Consolidated Edison Continental Où of Del, Crown Zellerball

Cuban Amer. Bugar

Diamond Alkall

Diamond Match Co.

Douglas Alteraft

Dow Chemicain

Eastern Airline

$15

2742

M

24

38

10

1802).

Japan was a major exhibitor ut last year's Fair, with proc- tically every major industry represented,

Oficials estimated the Fair will result in over one billion dollars in new business for the participating nations.

Charles Snitow, President of the World Trade Fair group. sold that attendance 4t the 1058 show should exceed Jast year's "remarkable turnout" of more than 700,000 visitors which included 127,780 buyers from all parts of the world.-

United Press.

New York Rubber Market

New York, Dec. 4. Rex rubber futures today closed 40 to 52 points higher with sales of 56 contracts.

Closing prices: Jan: 24.10; Mar: 20.20-23; May: 2128; July: 28.35; Sept: 28.35; Nov: 28.35; Jan; 28.35. Standard contract closed 40 10 362 points higher with no sales

reported, 437% Jan: 28.10; Mar:

47

May: 28.23; July: 2855; Dept: 2023; Nov 2533

Jan: 2334.

Firmness refected seller cau- is tiousness in face of Indonesian

Cenedi ... 24.00 Amey Can STORES, ETC.

.... 28.70 18.90

13 11.30

130

10.70

300

At the same time it rated among other sugar grow- | HK & r Ing areas market quolas which and Howall, the Philippines Puerto Rico will be unable to Ail, 'Cuba's quota was increased 26,000 tons.

The net result, oficials cold, la to increase supplies available 10 northeastern Teaners by about 20.000 tons without creating surpluses in the South and West where a big increase in year-end inventories is in prospect United Press

9.00

current

INSPECTION MacLean edded that the

Japanese salmon fa inspected in Canada for quality and high | standırd" and that the Import- ed salmon was priced "close to the curreat Canadian market price."

"There is little or no margin of pront for the Canadian im- portero," McLean edded.

The Fisheries Minister said

that Canadian brand labels 10.70 were used on the Imported 13.70 Canned animon, since there aro no Candian regulations against 4009 @ $.60 | the use of such" brand fabela," He and that the words "Product of Japan" had le be conspicuous on the can.

SINGAPORE STOCKS

Singapore, Dec. 5. Brokers today quoted following stock prices: Ratu Kantang Hubber Co.

he

Opening

"As far

as the fabelling of Imported Japanese canned sal- mon is concerned," MacLean said, "I am satisfied that there have been no attempts to de-

ceive the Canadian consutner in so for no the designation of the country of origin is concerned."

"In one or two Instances," he added, "where the Department of Fisheries considered the words "Produet of Japan" werd not sufficiently. .conspicuous on the label, this condition has been corrected by the Importing companies willingly and with-

NO EMERGENCY & Neave Ltd ord.....671 out delay."--United Press.

ACTION,

SAYS MOEWEN

Canberra, Dec. 4. Trade Minister John McEwen told Parliament today no ener- gency action will be taken at present la restrlet the import of cotton plece goods from Japan.

Such a move was recommend- ed to the government by M. E. McCarthy, special advisor on the effects of the Australian- political uncertainties, plus the Japanese trade agreement. and higher ruling of London 31% Indications of An improved McEwen said McCarthy had that the government. domestic factory interest at the wamed 25% higher prices.

position will be closely watched Shipment business was small and urged that Australia obtain and Included sales of three Information from Japanese sheets at 20% cents end four authorities to ensure that the

cotton sheets at 25% cents a pound, Australian

piece goods cost and freight

November industry shall not suffer future shipment out of Thailand. Spot damages as a result of Japanese No. 1 Res here was quoted at imports-United Press. 28% cents, nominal

Dupont de Nemours

182

Eastman Kodak

El Paso National

an

28

Family Finance Corp.

Firestone Tyre & Rubber Ford Motor

40

General Electric

General Foods

General Motor

Gan. Pub. Uu

Getty Oil

Que Co.

Goodrich (B. Fco.

Goodyear Tre

Gulf Ou

Hayden Newport Corp. Homeriake Mining Co. Ingersoll-Rand

Inland Steel Co. Interchemical Corp. Int'l Eistness Machines Int Harvester

The method is an evaporation International Nickel process designed to make full use of the heat available from a power-producing boiler or other

An

Important

source.

heat feature is a way of snapping sali scale from the equipment, so as of to prevent the cmelency operation being affected by the build-up of salt scale inside, the equipment.

The new technique coul be competitive with fresh-water except in a relative-

rangement, the Stulcken. hasly few areas where population

been evolved for heavy weights, moll, rain-fall

such

abundant

as locomotives, parts of ❘ and reservoir land avaliable

oll reâneries, and so on, re-and cheap.

quiring shipment overseas.

This type of must consists of

two units firmly built into the NEW VESSEL

ship's structure but sloped 'ut

D outward

small

with

cabins

ongle, operational control by electrical

Lake Victorin. from means

A now passenger vessol being to the maste them- built in Britain for operallon on attached selves.

Lake Victoria by the East "A heavy lift derrick capable African Railways and Harbours of handling a 100-ton lift or Administration will be able to is installed at the base provide the same service as is between the two most units. It offered by the two existing can be operated in a fore and ¦áléémera on the lake,

more

aft direction in a vertical are of The chip has been designed

a circle, and thus can serve the for service in the tropics and hatch or the dbris spacé forward in

or aft of its position,

If such a derrick were fixed to an ordinary mast. It would be hecessary to tinrig it from #y,

Intended primarily carriage of passengers,

International Paper Inti Tel de Tel_ John-Manville Co. Kanas C. Power & Light Kennecatt Copper

Leggett Myers Tob: Co.

Lockheed Aircraft

SINGAPORE

Despite rather better over- scas advices the market opened around the previous levels on a quiet and featureless market. Later it steadied sharply on news seizure of further Dutch 273 | Arms in Indonesia,

There was a fair interest for 20% lower sheets

remills. and ***Futures:

Loows Incorp.

Lone Star Cement Co.

Lowenstein & Sons,

McDonnell Aircraft (Am

27

28

Block Exgo.)

Mesabi Iron Corp

Minnesota Mining Mission Developbient

O

Batik Boring Petroleum

Byndicate Consolistad Tin Smelters

#

29/64

Hongkong. Tin Ltd.

Kumpu

Fraser & Neyve 7kg cum.

Bro

$4.03 Gammous (alaya) Jathiied $2.24 Hongkong

Shanghai

#450 Banking Corp.

#1

,

£14. Kuala Kambar Tis (exdiv)

Lubas Rubber Estates Eid. Malayan Brewertos

New Berandah Rubber Co.

Ltd.

petaling Tin Lid."

Failies Hotel

Cold

Singapore

London, Dec 4. - The stock market closed easier today in one of the lightest trading sessions In several years.

British Government issues after opening firm weakened later in the day and closed fractionally lower,

Blue chip industrials word mostly lower except for strol shares which rose as much as a expectations of

on

shilling favourable dividenda.

Most all issues réirented by one to two nililings.

Japanese liens Improved in an otherwise dull foreign

market.

bord

Dollar stocks were 101- changed.-United Press.

Fly PAN AMERICAH world's most experienced airline

London Metal EUROPE

Prices

London. Dec. 4. Prices of metals closed today

$2.4734 in sterling per long ton as $2.4712 | follows:

1

$2.5116

Bugris Seller

Storage

Tin spot

73015-

$9.91

3-month

71735 718

1.841

Copper, spot

18015

$10.00-month

Lead ist half Dec

190

101

1024

11

Mar

77%

Zine jet halt Dec

66

6514

United Press.

(cumdiy) Strails Trading. Straits Steinsllp United Engineers Ord. Weare Brow, tcundir)

$1,24 3.10

-China Mágil special.

NEW ORLEANS COTTON PRICES

New Orleans, Dec. 4. Prices of cotton futures closed today as follows:

Brot: 36.21; Dao: 3938; Mar: 36.29; Dec: 33.99; Mat: 34.00; May: 23,49. : 35.49) July: 3417, det: 73.99:

LIVERPOOL

10

Colton future closings, pence per 16, wire as follows: Old contract: Dec/Jan: 24.20 Mar/Apr: 21,001 May/Jime; 26.04;

NEWSPRINT FROM July: 881-85; Oct/Nov: 3730

CHILE INDUSTRY

27.80) Naw contrači: Dae Juh! Mar/Apr 27 29: May/Juniz: 27.78; Jety/Bept: 31.10: Det/Noy: Tim- SAO PAULO Colton future closings, irt cruzeiros per idlo were 26 Santiago, Dec. 4. follows: Chile's. intent

The nowsprint manufacturing and exporting Industry passed an important milestone yesterday when the Chilean sleamer Ancud salled from Valparaiso with 760 tona of newsprint for She Buenos Aires newspapers. 8742-0914

Aires 010-821 La Presa of Buenos

La Nacion will get 500 toru;"

1 No. 1 rubber per lb. ee. 78-70

Jan. 791-79% No. 2 rubber per lb. Doc. 17574 No. 3 rubber per . Dec. 24% No. 4 rubber por lb. Dec. 745 Spot rubber unbaled ........... 7814-20 22 Blanket repė

316) No. 1 pale crepe

Montgomery Ward

Montorola Inc.

National Cash Reg. "A"

3412

National Dairy Prod. National Lead

National Stoel Corp

New York Central...

Kortolk & Wastem Ry.

Clin Mathléian

Otis lovetote

Owen-Unuta Chiasa

Oxford Paper Co.

Prelle Gas & Elec. Pan American Airways Paramount Pictures

Parko Davis Co.

Penny J. C. Cu. Penn. Balt Ca Philip Morris Proter & Gamble Co. eltsburgh Plate Glass Publickar Industries Pure Oil..... Radio Corporation Republic Steel Reynolds Metal Sears, Roebuck & Co. Shell Oll Co. ..

for Saint H

The cost of the vestel includes the bolt aembly at the builders' yard, dismantling into

the Kft side and fit it on the fore sections suitable for shipment io

skła.

East Africa, and final erection The time this mayed coat Kirimi. *This is normal tributes

to cutting down the practice; all the Administration's time spent in port loading larger veszély have baca and/or discharging.

doduced là thủ m

Blockr

Paper

Sony Mobiloil soli Alecraft Bouth Pueria Bies fugar douthern Co. (The) Bouldern National

hallway (Com) Berd Brands

Standard On of Cal standard of of Ind. Standard O DE NJ, starp Hock (Toronto Steding Drug to.

LONDON

Breat

3.70: Mari $2.10: May; 41.80; July: unquoted.

In the

the United States, average price of one-inch cotton at 14 designated spot markelj was 34.71 cents,

Total sales at these markets wend 68,773 balos. United Press,

The rubber market was firm 100 tons and La Razon 100 New York Foreign

37% 1134 "with spot quoted at 5/18 pencu

16 higher at 234.

4351

53

Prices: No, 1 Fima apot: 23%. Settlement house terms: Jen: 2714 2314-24: Feb: 44-11; Mar: 2416-541 July/Bepl Jan/Mart 245-14: Oct/Dec: 248-243%.

General markets, eit basis, poris; Dea: Z3-23

free patate crepe thin pec: 25f4:" Jan 2434.

48

314

4155

4314

4

Jen:

AMSTERDAM

The rubber morket was quiet.

First export shipments of Chilean newsprint were made recently to newspapers in Bolivia and other points.

Chilo's

Exchange

Now York, Dec. 4. Closing rates were: Canada ..... Degland official

own consumption need are being supplied by the local paper mills, with a sub Austral stantial surplus for export. United Press,

Prices closed today in guilders New York Metal

per kilogram, cif December as

as follows:

301 No. 1 rubber

24 No. 4 rubber

No. # rubber

T

2016 | No. 1 trepe

$20 buyers 2. buyers 2.18 бруств 1.18 buyer United Preps.

NAMESAKES

· Answers--1 Khan; 2 Muslim

8 Mohammedan, 4 League, d Mosque, 0 Arabia, 7. Potroleum,

Cadillac.

Kid Baus

Futures

Now York, Dec. 4. Pelces of metal" ruturea" closed loday in cents per Ib. as follows: Load Dec.

DU-day

New, Zakirn South Afries Exrectl T

J

Pakistan

Umied Press.

London Foreign

Exchange

London, Dec. 4.

Closing rates wycho AW ZOEK

Montreal Amirdim

*11356

11.589

#915

243:

Parke

Zina

Dec.

Copper Dec

Dec.

---United Přán,

Copentuaren

Exchange Rates

the local this

Business was done in unofficial expiange market morning at the following raten: U.B. dolar (per 11)...... sterling notes (per £11 Australian natos, (per 21) Indonesian rupiah (per (90) .. 15.00 2018 Singapore (Stralis)

121 Slam teal (per 100)

16.27 12.47

and the

USA

For saservatioca,

call your tjural speed or Alexanden Hosen, Phúce 37931, Hạng Pony

RAN AMERICAN

In Jam of Mom York, 17,5l dhi whað klyktet kipagtig

DECEMBER 8,

1941

a three word sentence

“Climb Mount Niitaka"

The message in code was to launch the greatest act of in the treachary i

history of war

C

A DAY OF INFAMY

by ∙Walter

Bagins exact Sørd

years

later on December 8, 1957

In thi

HER