1958-03-26 — Page 9

Page

THE CHINA MAIL,

WEDNESDAY, MARCH 26, 1958.**

Page

Transportation

NEW TRANS-CANADA TANKER RATES

PLAN FOR HK

Vancouver, B.C.,

Mar. 25. Improved air service from

Hongkong for nino major! Canadian cities, Liation and Madrid, will be offer- ed in the cast-west route'

by pattern proposed Canadian Pacific Airlines in its recent application to the Air Transport Board, it was announced here re- cently by CPAL President, G. W. G. McConachie. CPAL's route application was submitted to the Board last November. It is expreted that This application will be reviewed at a public hearing, now Federal Goverument policy per- mit the Board to consider the Justifiention of competitive main-

ine air service.

that

DROP AGAIN

London, Mar. 25.

The

TRADE

and COMMERCE SECTION

New York Stock Market

New York, Mar. 25.

Stocks turned a bit ragged today with volume falling off as proßt-taking developed in some recently strong sections,

There has been no sign of Toward closing time a somewhat firmer tendency

any recovery in the vil tanker charter market. Demand is slight and only

a fow fixtures have been reported.

developed but the net result was a small over- all dip in the averages, except utilities.

WITO

supported, Montgomery Ward

Motorola Inc. National Cash Reg. "A"" National Dairy Prod. National Lead.... National Birel Corp.

Chemicals Ipto in the session and some of The rails rollied despite a long A Bxture Jale last week of a from the Persian

int of unfavourable railroad 30,000-tonner Gulf completed the

earnings reports oppeering to: requirements of charterers in the month of February. Many, that area, A number of vesselspecial issues rose competed for that contragt.

current

Onc broker points out that continued reports from United States, Britain and the

the

Continent of Europe of increas Ing unemployment and degress- he consumption of oil and coal sugest that no relief can be xpected on the tanker or dry-

cargo markets.

RATES LOW

Heles have already reached such low and uneconomic levels Previously, CPAL, passengers that fluctuations Cup

only be transferred to a Trans-Canada slight unless there is a marked

This expansion in demand. wireraft at Vancouver,

Perslau poposed rule will give CPAL GUIT to Britain ar Continent service from rates last week were slightly i one-carrier

Eastern lower Hongkong through

Ministry of at British Canada, Lisbon and Madrid,

Scale minus 55-50

The airline plans to operate Ave east-west mainline

railer,

Transport per cent,

Frem the Caribbeans to Britain-Continent, rates remain-

each with daily service. Followed at Seale minus 60 per cent. Ing are the proposed daily ser Following the activity week vices: (1) Vancouver-Winniper" earlier in the American coast- Torente-Montroof; (21 Vanco- wise trade, rales last week from ver-Calgary-Saskatoon - Ottawa Caribeans to United States Montreal: (3) Vancouver-Ed-northern harbours were weaker montan-Montreal; (4) Edmonton-

at between minus 80 and 55 per (5) Winnipeg-cent. Regina-Toronto: Ottawa-Montreal,

PATTERN

This route patiens is plarmed to offer new travel opportunities for Canadians and to present ni minimum of duplication D existing vice. CPAL

Assign

The few charterers showing Axing interest at all in ony Loinage seem to be turning their attention to the possibl- titles of obtaining short-term

tonnage period

at very low rates.

Over 35 million deadweight tons of tankers are now fald up trans-continental ser- throughout the work!.

is prepared

Lu

feet of 15 Super-DC-

UB Empress ntrifners to the new MAERSK SHIP'S

domestic service.

As a result, far the first time, nir travellers will

have direct MAIDEN TRIP

non-stop service between the following ellies: Montreal- Edmonton: Toronto - Regino; Ottawa Winnipeg: Saskatoon Ottawa: Edmonton-Regina. The

service new CPAL

will also

introduce the first through ser- vice linking Calgary-Suskatoon- Ottawn-Biritreal, and the first service linking Vancouver

Saskatoon via Calgary,

milen-an-hour

to 3.000 miles With a full pay-lend aboard, a DC-6B weighs 107,000 pounds.

Los Angeles, Mar. 25. Denmark's newest entry in

round-the-world trade - ms Laust Maersk-com- pleted her maiden voyage Hongkong recently, and is now en route to Bangkok.

to

night with

more.

a point or

Steels, drugs, autos, some of the tyres, and alteratis declined. In the last, United Aircraft Jost more than a point.

FL

Pandic Eastern Pipe Line robe a point to help mastoln the Olls, except uulity average. Internationals, rule strong. "

nine-month Uglides sel light in their average.

Martin was fru in the air- erufls. After the close of trad- ing the Government announced Martin had been named chief contrrels for the development of the new solid-fuel Pershing missile, United Aircraft Just

ins Kroup. The rails were depressed by

carnings poor

reports for February.

1

Coppers moved lower despite another incase in the price of the medal brand.

Marlin was the most active issue, followed by Lorillard, American

Cymind, Texas Gulf Sulphur and Getty Oil. All birt

finished Lorillard higher.

New

New York Central

Norfolks & Weatern y. | Ojus Mathieson ...

Otis Klevatera Owen-filinula Glona Oxford Paper Co.

'acile Gas & Elec. Pan American Airways Peremaunt Pictures

Parke Davis C.

Penny I, C. CD, Penn Ball Co.

Pure Off

Saint Rug Paper Sinclair on

Socony Mobiloil Solar Alteraft

HONGKONG

STOCK EXCHANGE

Our Own Correspondent

Rustpeas done on the Hong- kong Stock Exchange this morn ing amounted to approximately $307,000. Noon quotations and the moming's transactions were:

thares

Aules Buyers Bellers

འb!་

dot 43 D8

4011

DANKE

23

HK Bank..

00

B02%

$100

3114

The New York Rubber Export

Cotton Market

New York, Mar. 25.

Cotton futures today, after a lower opening, spurt.

of

Boom To Slacken

Now York, Mar. 25.

ed to a new five-year high only to settle back The export beer in synthetic again and closed with minor net changes.

At the close the Brt ruled up three to off ve points. The market opened off six to 11 points. New Orleans elcsed un- changed to up one point.

All deliveries, with, exceptien

pat May,

new sold to senconal highs on the port. opening upswing. March con- tracts reached 37.20 cents o on the 1007823 pound, highest leve

Board since November 2, 1952.

Slove mid-September year, when the March contraci started, tant delivery has moved from 24.45 to the ctirent high, a cumulative rise of 478 points, or $23.75 a bale.

100705 90783

10 730

5.00 0.05 1,005 05

305.000

52

600 i 33

st

Background factors explaining the rise. traders said, cluded: Backwardness of new crop start

many areas of the south, plus a shortage of good quality seed for planting in come areas, and

to

rubber Is expactad Flecken this year accord-

ing to trade sources,

The sources say rubber wu- facturers abrood brought a record 201,000 tons irera the

LONDON STOCK United States in 1997-- third

MARKET

more than the year before. January shipments maintained the busy PACS, exciding the same magnit of 1857 by 14 per Cent.

But exporters are not con- London, Mar. 25. fident about the future the Selling was not heavy but sources say. At 27 cents a pound buying soemad still less on natural rubber is only a cent or the stock markets today to higher than and nearly all soctors price for synthetic in Europe. closed lower. Turnover three years. was 8,363 bargains com-

the delivered

This the Garrowest sproud in

Moreover,

pared with 12,769 a year European rivalry

largo eft

ogo.

Pritish

governments again marked down by 1/10 but

exporters believe will loom mid-yer. Purepe's present syntholic output were capacity is only 25 thousand tone a year but this will be a strengthening conviction of few invertors seemed tempted. bolstered by a new 35-thend-

issues of parity, instead of the 84 per cent Recent

municipu ton plant in iply and two 45. bose ured in determining the loans also lost ground In spite of thousand-ton plants in Britain

and Germany.-China, 250014.10 ntready guaranteed mlalmui. their impeccable records,

Special.

Industrinis

634% d

INSURANCES Unter Lombard..

11.50

33.25

339% 7491

SHIPPING Wheelocks

Pip Moeris

Procter & Gamble Co

DOCKS, ETC.

Pitsburgh Plate Glas

· 2016

Publicker Industriew

K. Whart.. Dock

210

Provident

(0)

Tadlo Corporation

13.00 1998

12.70

Repubile Steri

40%

75 11

licynolds Metal

Sears, Roebuck & Ca,

LAND, ETC.

She O Co.

1 Hel..

26 10.10

3500 10.20

pne !

I4,

1000 18.20

300v 10.10

.500 m 16.30

Southern National Gas

South Puerto Rico Buat Southern Co. (The)

101

271%

NK Lond

Tumphreys

31.25 31.50

Colton March 28 to

207

RUBBER

Southern Railway (Com.!

CA

Aranly

Standard Arands....

Standard On of Cal Standard Oil of Ind.

400 40%

Standard C) of N..

Steep Rock (Toronto Exgei Sterling Drug Co. Stokely-Van Camp.

Trud

UTILITIES Team

1.178 1.25

22.00 23.30

2500 1 23

100 or 2:1

200+

121%

500 23

fico this year.

towards fortig

Studebaker-Puchaid Corp.

Youmati

DT 97.50

100

Month

:00 17

104 2 97

July

2016 377

Texing Inc.

Tidy Water Axin, Qil The Inc.

19 C. Light

11.20 17.30

100 / 17:20

Dec.

26,000 161,300

Mar.

12.500 102be0

25.100 123,000

Truth Fury Fox Filin

241

Klectric

14,500

Union Carbide

Union Of Cal.

Simcaine Mining Swin & Co.

Texas Co

Union Pacific Railway

United Aircraf

United Gas Corp.

issues. Foll"

US. Gyp

US Line Co.

Or the 1,188 Issues traded, 555 declined, 301 advanced and held unchanged. 252 highs were set by 89 wille 13 fell fu new lows.

American Stock Exchange S. Ratner sales dropped to 600,000 shares. Smelting

US. Steel from 800.000 shares yesterday.

Bond volume wi: 54,630,000 ngainst $4,580,000 yesterday.

Dew-Jones closing · averages

were:

2000 industrial

20 raile....

15 unlities

Go stocks 40 Londs Comm. future price index

Closing Prices

Alden Inc. Acx. Allied Inc.

Allied Chemicals

Allis Chalmers

Ai. Divke Shay

Amserlen Airlines

Am. Cable & Radio Corp.

American Cyanamid Co.

Am. & Furgn. Power

Am. Gal & Electate

blue hull and gleaming | Ain. Bach, & F'dry,

super sirvelure,

Ansound Copper Armer Steel Arvour

430.

105.50

73.75

GO. TE 150.72

$ 18

Warner Bros.

Westtrahine Electri

14.50

1.23 1.273 4039 6 1 233 1000 1.275

240 17.20

farmers have until

wide.. showed canea), or adjusti downward any application they spread this of less than a shil- put 3.093,832 was Enfield Cables which roso cotton farmers seres in the soil.bank. Recently, 10 on la dividend

Mall

have fled. Up to March 11, ting. One of the few excepilens New York Sugar

trade quarters thought mont

o!

acres

announce-

some upwards

5,000,000

Oils were unsettled by news would be taken out of rultiva-of the Middle East getting Dij

Oct.

200 & 1152 May

20.10.20 100 20.10

tougher

Market

Now York, Mar. 25.

Volume Oper interest concerns. Angle Egypung B and World No. 4 sugar futuren

1,300 623.00

100 21#,100

3:00 214,4

British Petroleum were both down 27- us was Burmah Oil falso; on the other hand, Royal | Dutch-Uunigh appearing only the tape-clawed a 144,000 1,111,490 bales | gain of 5/- and Shell Transport NEW YORK Prices of collon futures closed as follows:

July 24.10 Total

54 20 10

200

132 20.10

500

20.10

1000

20.10

27

Tel.

25.00 25.70

1000 13.00 300 12 25 00

105 e 25.40

INDUSTRIALS Cemint

A

01

STORES, ETC.

Datry

10.9

по ні 1657

Wa

100

330 10.50

128

L. Craw

15.70

United Press.

COPTONS

9

Western Union Tel. Co. Wert Va Pulp & Paper Woolworth

NEW YORK

RUBBER MARKET

New York, Mar. 25. Rex rubber futures today closed unchanged to 45 points lower with sales of 91 contracts,

Nunyang

Singapore

Stocks

Singapore, Mar, 20, Brokers today quoted the fol- lowing stock prices:

4883 | 2951: Gept., 28.75; Nov, 26.73: Jan | Consolidated Tin Smelters

20.78; March, 20.00.

Standard contract closed un- Fraser & Neave Lid Ord. . $3.02 changed to 45 points lower with

434

211

March, 200; May, 2001 July,

71.100

·

Spol: 30.20n: Mnya 36 17: July: 38.40-41 Deti 3034; Dee: 0.34-5: Dov: 3707; May: 37 93; July: 30.43. NEW ORLEANS Prives of cotton futures elcsed as follows:

28.15: July: May: Spril: 39.10: 30.0; Oct: 30.81: Der: 3.83; Mal $7.00; Moy: 17.00: July; 26.42.

LIVERPOOL

Collon future closings, in pencé per ib. were as follows:

oncu on

one or shillings.

Wero

com-

today closed two points higher to one point lower with solor of 114 con- tracts.

Domelie No. 6 sugar futures closed 2 to 5 points higher wilia sales of 272 contracts, Foreign bonds

Firmness reflected the con pletely ille, Germans were all biration of the tie-up since unchanged and the only move January in sugar shipments from ment in Japanese wao a fall Havana, because of a strike, and

non-assented of of £2 in the

the overhanging threat of a the Tokyo per cents.

strike in general

Cuba by Dollar stocks were featureless April 0.

Meantime, traders reported with the premiun down 1⁄4% to 8-

a broadening interest in raws per cent-Unlted Pro53,

because of the uncertainty about future shipments from Cuba

Hawali. Recently

American contract: March/Ape: New York Metal Che reportedly bought 41,000

23.23; May/June: 25.63; July/Aug: 34.23; Od/Nov:

24 70: Dec/Jan 23.007 Mar/Apr; 20.53.

Mixed contract: Mar/April 25.10;

May/June: 20.50;

July/Aug: 20.63;

Oct/Nov: 21.25: Dec/Jan!” 27./28

Mar/April: 27.30.

SAO PAULO

Futures

New York, Mar. 25, Prices of metal futures closed Cotton future closings; in today in cents per lb. as follows: cruzeiros per kilo were as Lead March

$2.70b

tons or raws from Peru. Other about scurces estimated that

tone of 200,000

sugar are wanted by various sources, in- cluding Ceylon, Egypt, Pakistan the next olhors over and Geveral weeks.

11.03

This is in øddition to the‐re-

follows:

May

11.10b

May

and

July

$1.00

41.50

Oct.

41.82

Zine

Copper March

March May

6.58b

curring reports about Kumion

8.03b

interest in anywhero

from

23.40b

200,000 to 400,000 tons

The DC-GB's, offering bined Brs cines al lorist ne

com-

commodation. carry

up

A striking bright 72 white

her

the

American Metal American Smelly

Opening Batu Lintang Rubber Co.

Lid.

2. $1.9755 Brith Bornes PetroleLIJEL

Syndicate

Dec.

$2.99

May

23.440

I

The United States, the

Tin

March

May

12.020

-United Press.

Am. Suger Ret.

291

American Tel & Tel American Tub, "B"

Ora.

2t, od

1712

|

409

434

no sales reported.

March, 3660; May,

20.00: July. 26.73 Sept. 25.1: Nov. 28.75: Jun

26.00; March, 34.00,

March:

Fraser & Neave Thayum.

prer Gannons (Malaya)

A Hongkong

Banking Corp. Hongkong Tin Ltd.

34.05

..

2.30

Shanghai

*430 49 000

Kumpas dh .......

$1.00

B10

icro

Bethlehem Steel

Boeing Alpine

3714

Borden (Tim Co.

Burroughs Adu Machine

Campbell Soup Co.

Canadian Pacie

24

Gare 11. 1) Cu.

BE

news

347%

de-Lunas Itubber Estates Ltd. $1.06 expiration of the livery on Thursday. In inler Malayan Breweries....... months, dealer selling orders New Serandah Rubber Co.

The spe- Petaling Tin Ltd. predominated while culative talent followed the Ramra Hotel..

market decline while stock

from awalling further Indonesia.

13.5214

Ita.

#7.00

82.0214

Bingapore Cold Storage ..

CO.P1

Straits Tradit

$1,70

484

Siraita Stearnship United Engineers Ord. Wearne Brok,........

$.

$1.20 t

Parls

43.1

Blockhulm

40

cumdiv: † cel; 1 exall. - Chlua Mail Specia

Zurich

passengers and cruise m 300 Laurt Maersk is Ute 73rd vessel in Moller Steamship Company's over ranges up

лош fully loaded. fleet which

has 150,000 deadweight

The tons alloat, new 12,520-ton ship Is 455 feet long and has a service speed of 18 knots, making her one of the Instest of her size in world Irade.

Captain S. M. Andreasen commands the vessel and K. C. Lund is the chief engineer.

DESIGN Built

Odense at Denmark'a

Yard, the Laurl Steel Ship Shipping Minister Raj Bah-Maersk features the latest in dur told Parliament, to design and equipment and has numerous special cargo facilities.

INDIA BUYS SHIPS FROM JAPAN

New Delhi,

day the Indian Govern- Among them arc tanks for ment planned to buy three vegetable oils, latex and molasses ships from Japan under-highly important commodities the $50,000,000 granted in the trade flowing in and out by Japan to India.

of this port.

The aleek New freighter carried from Los Angeles Har-

He said the ships would cost bour 360 tons of general cargo, about $8,400,000.

including 100 tons of in plate for Yokohama und 500 pounds of Southem California wearing apparel for Hongkong,

Bahdur said purchase (erms have not yet been finalised, nor was there a decision on the size of the ships. He said their de- livery is expected next year

Other ports the Laust Maersk will visit before chreling and negotiations are proceeding globe include Nagoya, Kobe,

for meuring

Additional ship- Osaka, ping.---United Press.

Atian Conn. Minang Flower-ma-1410. fatimare & Ohlu Benicia Fleance Detdix Aviation Corp.

Benguel Cont

Cat. Tractor

Celanese Corp,

C. I. T. Financial Corp.

Chase Manhunt. Bank

Chrysler "Motors

Chett Peabody Colgate-Palmolive Cu. Columbian Corben Co. Comunercial Credit Commonwealth Kisc. Consolidated Edison Continental oil of I

Dei Crown Zellerbach Cuban Amer. Sugar Diamond Alkull

ፕሮ። contructs heki latively steady on covering Ve- | Kunta Kamper Tin

in the shipment markel, offerings were light to moderate, 43 A small tonnage reportedly worked out of Thailand in- cluded some three sheets at 24 cents and four sheets at 235% March-April cost 115 cents, both

Do

35

534

and freight. Domestic consumer Interest femained flat Spot No. 1 Rss was quoted at 26% cents. -United Press.

LONDON

The rubber market was dull

with spol unchanged at 23-3/10

4712

2012

Dimnand Match Co.

Douglas Aircraft Dow Chemical

67-

Dupont de Nemours

170

Eastern Airline

371

Eastman Kolak

1042

El Paso National Gan

2017

Feilly Finance Corp.

201

No. 1 var spot

pence per lb. Prices:

2016-2011

the

Firestone Tyre & Rubber

2171

Settlement house term:

Ford Maior....

April

491

Geral Electric

10437

Any

£3-231

Jurie

General Foods

Go

April/June

312

401

July/Sept.

Dal/Dec.

Getty 0:1

2011

Jan/Mar

23

General markets, etf baals,

Codeith in. F. Co.

€19

April

May

rute of...

1039

Heyden Newp:el Corp

Laz

funestake Malog Cu

Keeng. Saigon, Djakarta, Singapore, Port Swettenham, Penang and Bela- wan Deli,

General Motors Gra. Pub Util.

Gliden. Co. ......

Goodyear Tyre

Ingersoll-Rand

Inland Steel Co.

Interchemical Corp. ...

at Businew

tachines

Int Harvester .... International Nickel

Infernational Paper

In Tel Be Tol

John-Manville Co.

Kanour C. Power & Light

Kennecott Copper .........

Liggett Meyers Tab. Ca.

Lockheed Aircraft

new Inpop.

Lone Star Cement Co.

Lawenstein & Sons

MeDannell Aircraft

Block Exga.) ***

Marais Iron

Mason Development Menennio Chemical Co.

何から

everage price of one-inch cotton at 14 designated spot markets why 34.58 cents.

Total males at these markets were 31.308 bates.

London Foreign

Exchange

London, Mar. 25, Closing rates weret New York

Brussels Copenhagen Frankfurt Milen

281 9/14-2018 2.73-2.73 1/20 10.0213-10.09235 130_A219-1251.87! 10.954-28.3514 11.74-11.744

1740-1750

12.25-12.201 Other unchanged ---United Press

London Metal

Prices

London, Mar. 25. Prices of metals cloned today

in sterling per long ton as fol- lows:

Tin spot

Copper spal

Lead 2nd half March

Zine 2nd half March..

Juny

653% 635

United PreER.

Contract No. 4 (world) May: 8.44: July: 3.47; Sept: 0.40: Out: 3.40; March: 3.40; May: 5.25; July: 3.41: Spot-(cents per ib. top Cuba): 3.47,

Open Interest: 49th contrasta.

Contract No. 6 (domestlo) May: 5.70; July: 6.10; Sept: 5.80; Nov: 5.78; Apol-(cents per lb. cil NY ex-duty; 0.05.

Open interest: 2.429 contracts, -- Untied Preza

Exchange Rates

Business was done in the local this exchange market unofficial morning at the following rates:

Amsterdam

11824-185

14414-142

5-month

3-month

Buyers Seller

730

750$

732 733

1704 17034

170 176:5

U.. dollar (per $1)_

6.00

TER

Berlin noter (per Cu

10.00

June

7432 741

Australian notes (por 1)...

:donesu rupiah (per 100)

13.30

1335 0314

Blum tices (per 100)

20.00

Bingapore (Straits)

Estato crepa thin Apri

cps thick Apt 2314

-United PR.

New York Foreign

Exchange

New York, Mar. 25.

Closing rates were:

Canada

England offlets!"*

30-467

個

125

40-day

Australis..

Now Zoulant

Bouth Atries.

Delgium

1.02-13/32

2.81-31:37

05-3/10

2.90%

.:00

Others changeUnited P

FROM

BANGKOK

MADRID

Fly

TWA

CALL TRANS WORLD AIRLINES 32563

OR SEE YOUR TRAVEL AGENT

A Bright Southern Californita sun and fluffy clouds make

a dramatic background for the handsome Louis Moerale ne she completes her mooring at Los Angeles Harbour. The spredu. Freighter, on Auf mailen voyage from Denmark, recently visited Far East ports.

SHIP

BENDLINE