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THE CHINA MAIL, FRIDAY, OCTOBER 31, 1952.
MARITIMES Shaping Of Economic Policy
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Nov. 19
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Singapore,
&
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for Kangooti
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Challenge Of New
Plastic Composite
New York, Oct. 30.
Plastics reinforced with fibreglass are set to challenge metals in civilian uses-bathtubs, station-wagon bodies, oil tanks, refrigerators, pipe lines, furniture and even freight cars.
"Already the reinforced plastics-a combination of polyester resins and fibreglass are widely used by the military. They go into guided missiles, assault boats, planes, fuel tanks and bullet-proof vests.
of
Kaiser-Frazer is planning to make 1,000 sport cars from, the glass-plastic, for testing.
3
Import More
By Air
New York, Oct. 30, Government reports say American Imports by alr from train-Atlantic kets are over 50 per than a year greater And, they add, it is foreign-flag planes that. are bringing in the air cargo.
cent
BEO, the
most
Amang-important items arriving that have been
watches here by als aro and watch movemento, electrical equipment, dry goods and fabrics, furs and hildes, glassware, aircraft accessories, parts and cameras and optical goods, druga, leather products, chemicals and a variety of metal products.--Associat- ed Press.
PERLON SYNTHETIC FIBRE
For The Sterling
Area And Europe
London, Oct. 23.
The meeting of the Council of Ministers of the Organisation for European Economic Co-operation over which Mr Anthony Eden presided. in Paris has focused attention on the problem of shaping Commonwealth policy in collaboration with Western Europe.
Mr Eden subsequently gave a report on the results of the O.E.E.C. meeting to the. Cabinet. While Mr Eden was in Paris lie was under con- siderable pressure from some of the Continental members of O.E.E.C. to reveal at least the broad lines of the policy proposals that are emerging for the Commonwealth Economic Conference next month.
Clearly, several of the problems which will be discussed by the Common-. wealth Prime Ministers-such as the convertibility of Sterling and the degree of importance to be attached to imperial preference in the development of future Com- menwealth trading relations-have direct bearing on the statement of long-term policy which the O.E.E.C. is now preparing for inclusion in Its fourth annual report to be published in mid-December.
lower
This report, which is the first | The U.S. should be asked to
tariffs appraisal of the new phase that
and e-liminate Western Europe has entered with measures which restrict imports. There should be a drive for U.S. the ending of the Marshall Plan in the middle of 1952, has a long-term Investment abroad,
particularly special significance.
under- in the arens. there
The O.EE.C.
meeting which develop.
I has just ended was chiefly oc-
is indirect re-
cupied with the discussion of the forence to long-term commodity policy statement that will emerge agreements the need for Ameri from the survey of European can policies "to ensure a high recent economic developments, and stable income in dollars for Great importance is attached to the under-developed countries,"
of the
this
since much
New York, Oct. 39, The Wall Street Journal said that although perlon
German-made synthetic fibre like American nylon- is being imported at the will inevitably be written
with an eye to its effect on thei rate of 3,000,000 pounds a
new U.S. President. year, this trade may end on December 31.
.
brgument
It is clear that many of the Continental countries wish th O.E.E.C. to make an approach to the United States us early us year on similar possible next Tries to those that are believed to be under discussion by the Commonwealth.
It is not that Americans do not like perlon. Several of the nation's biggest textile mills are fibre they can using all of the
clothing, hosiery, gel, for upholstery and other products.
There was much talk in Paris Women are buying perlon stock-
the possibility of an ings at many bl department about stores across the country. De-agreement on a joint approach
Western Europe and cut by
the fence requirements
Sterling Area,
have
Into the normal nylon supply.
Nylon hostery and fabrics are
has
And 1
NO COMMITMENTS
Mr Eden made it quite clear in Paris that Britain was unable to make any commitments on its policy as a member of the strange future wrapped Commonwealth in advance of the November conference in London Indeed, ไม่ give any about the precise information
likely to proposals that were emerge from it.
But in. doing so he insisted i strongly once again on the vital Importance to British policy of maintaining and strengthening the link with Western Europe through the O.E.E.C. and other European organisations,
INTERNAL MEASURES
So far as internal measures in Western Europe are concerned, the recipes me not very different from those that are believed to have been discussed at the recent meeting of Com- monwealth officials in London. structural changes in production, disindationary Bnancial policies and higher cxports to the dollar arca,
It looks, indeed, as if the new U.S. President may be faced by two very similar sets of pro- posole coming from Western Europe and the Commonwealth.
The British Government has still to decide, whether in this situation a method of closer collaboration in economic plun- ning between the two groups of would be advisable. The Financial Times.
HONGKONG SHARE MARKET
national favourites. trade expert said: "We consider nylon and perion indistinguish- able." But as the Well Street Journal sold: "A
countries been secrecy around much of the past and present commerce in perlon. Its-01 future in the American market G puzzle."
Porit E. 1. Du Using the "heavy molecule theories which led to nylon, I. G. Farbenindus trie begon making the German War II perlon before World Eight West German plants are making it now, under licensing agreements with Du Pont, sole producer of nylon. Introduction
The Foreign Secretary's assur of perlon to the American market ances scem, for the moment at after the U.S. Government, any rate, to have met some of come In 1950, asked Du Pont to help the points raised by other
dollars by O.E.E.C. memburs the Germans
about the exporting perion to this country, effects of a new Commonwealth The temporary licences under policy formed independently of which Du Pont has agreed to Western Europe. let the Germans export perion One factor is the consistently December 31, good record of Britain and the here expire on unless-Du-Pont-approver-their- rest of the Sterling-Arca-in-nol extension. A Du Pont spokes Imposing discriminatory restrict
strange lons on trade man thought it rather
with Western Conten that the Germans had not asked Europe during the past
Uslan year, for such an extension It did when the temptations to do so
SHIPPING
Waterboat not seem up to Du Pont to go have been great.
Asia Nav to the Germans, he added.
DOCKS, ETC.
earn
OPEN QUESTION
But, from Dormagen, Germany, a Wall Street Journal correspon- that a Dr Van dent reported Beek, Director of Farbenfabriken Dayer, a perlon producer, was reluctant to discuss plans.
NEW STRAINS?
But two recent developments are expected soon to create new trains. First of all, the British import cuts, which were only nibbling at West European trade until the middle of this year. He said: "Van Beek does not
Care abw beginning to bite to make Americans want
Countries like Italy (012 | seriously, nervous: he insists the Germans cri
of which depend on the export en making | *** counting are not
and the less consumer goods in the US essential foods are now feeling much of a dent nylon market. Ile estimates total perion production in Ger- the effect, at a time when their
other economie difficulties many at
around 12,000,000
growing. pounds a year."
Traders view it as an open question whether Du Pont will shut off perlon importa in the
absence
of
new
(From Our Correspondent).
Business done on the Stock Exchange this morning totalled $209,715.50. Noon prices and the morning's transactions:- SHANES BUYERS SELLERS BALES
BANKS.
TK Bank... 1420 3430 INSURANCES
K. Wharf
N. P., Whit Dock
210
77734 705
12
25 7771
1.40
مر
C2%
5002140 100 21.00
KEPA
Providen!
13112.80. Wheelock 181 40 030 1longkew.. 2.20
618 21 LAND, ETC.
JK flotel. B 4.00 1500 @ 0.55
IK Land (0) 53% 1000 54
Trim
INI $2 S'hai Land
32 133 Humphreys 12.10 1332 UTILITIES
20.30 20.40 1000 ₫ 20.30
Peak Train
Peak Tram
Bro
(N)
....... 13.80
the
The second development Is that Britain has begun to carn back some of the gold which it has lost to the European Pay- agreements.ments. Union in the past year. Strong as steel. U. S. industry leaders report in one piece.
Many say that will not happen A large port of this gold has, in because of the nylon shortage today that a big plant expansion but very light, they would cut
which is caused by Du Pont's fact, been paid out to the EP.U. programme is under way, Sales transportation costs.
creditor
and countries
they 160,000,000 reinforced
total this year of the
sharing its
to help meet° plastic run to around 17.000,000
pounds output largely in favour have been using
their dollar deficits. They reason. of the military. pounds with the military taking
If Britain's surplus position in that Du Pont would not want 70 per cent of it according to Caricton Ellis Jr, Director
of nylon E. P. U. is maintained, from 30
the wrath The material costs
to incur
pressure from Europe for a re, customers who now have come axation of the existing import Sales of one of the leading cents to $1.50 a pound, depend- makers, the Plaskon Division of ing upon the proportion of each le depend on perlon also,
restrictions in Britain and the Libbey-Owens-Ford Glass Co.
One thing against perion has component used. This makes it
been its price, now $1.75 as
test of the Sterling Area will
may be Ar Ellis says
plants under too expensive to compete with
ugainst nylon's $1.70 a pound. Increase or there construction will bring the in steel in car bodies where mass
volume is sought,
Reports say the Germans hope move for Britain to meet the nylon price in the defer its right to the full repay- dustry's capacity to produce the polyester resin to 70,000,000 But Mr Ellis says the low-
near future. Meanwhile, thement of the gold lost to EP.U.
it is a
is a cardinal point of pounds a year. A number of cast tooling requirements mako shortage is causing users to pay
Sterling Area which will
polley, ibreglass producers are also ex- the glass-plastic economical. for the added cost,
be reiterated at the panding capacity.
making smaller quantities, such While
Con- as station-wagon models.
perlon
Took slight against may 108,000,000 pounds of nylon, ference in November, to rebuild 7 point Increased sales of the plastic manufacturers say that even the gold reserve to a
substantially in one and expanded production should little bit, blended
into mixed level as rapidly.
present 0.9 possible. holding compound ready
down, Mr Ellis
wool and rayon fabrics, improves This the Immediate Issue on for bring its cost immediate usc.
The polyester resin is the cloth and makes it easier to вдуп.
which the Commonwealth and The reinforced plastic is re-nude from glycols and coal tar sell-Associated Press.
Western Europe muy most ensily acids.
and themselves in conflict. A bathtub
The wedding of the resin and being the Abreglass produces
Plaskan announces that for the first time it is offering both components combined
ported as strong'
very light weight.
as steel but
of the material--now
readied for use
first , in earį translucent plaitle, SNA
trailers-can be carried under
one arm, Mr Ellis says.
Sinks and draining
can
bo moulded from
the
น
to agree to
nom.000 pounds of cth Economic
above
the
MORE STRIKING
discussion by the
(0) 314
Star Ferry
11 118
་
C. Light (6) 1.70 83% 200 as 1.30
0.25
1000
250 @ 0.30 1500 » .27
C. Light (N) 4.45 6.00 200 Đ 015 Macao Elec. 30.00 Telephoto 17.00 17.70 1800 e 17.70
10.50
INDUSTRIA Cement
.... 17.30 18.10 200 17,90 Rope STORES, ETC.
Dairy
Wation
19.90 200 10.00 25 25.40 700 @ 25.30 500 m 28.20 I Crawford 20.50 20 000 20 COTTONS
EWD
2.40
Rubber Futures
In S'pore
Singapore, Oct. 30. Prices of rubber futures closed today as follows:-
Number I rubber,
per lb. November December
January
Number 2 rubber,
November
Number 3 rabber,
November
Number 4 rubber,
Kovember
Spot rubber, unhaled Blanket empe *****
70%-16
SAG-A 0716-92
BOJE - OTWA
-
7016-77
PRICE REDUCED
New York, Oct. 30. Perlon, the German nylon, to $1.75 a has been reduced
For the rest, the similarities No, i pale-crepe-United Freas. pound for shipments in the
• In construction it is now wed fourth quarter. Amicale Wool between the long-term proposals
And tr Ellis Service agent boards for partitions.
for Vereingte now under the sees is coming uso in office or Glanzstoit Fabriken, a German O.EE.C. and those which are
celling:
the price expected to be considered by the Exchange Rates Hemovable producer, announced material, all in
one piece. home
Commonwealth Economic Con- Awnings that neither rot nor glass-plastic sheets, hung from
ference aro Phôtes de distributed ingre corrode are made of the plastic. fluorescent light installed above US by several German pro trade policy.
celling, reflers, would have
striking than the temporary The oil industry la studying.
thom
ducers under a licensing agree. the reinforced plastic both for
This The report of the Economia ure in non-corroding' storage "Cheaper than plaster and meat with Du Pont.
lighting fixtures Mr Ellis says, agreement is due to expire at Committee of OER.C. given to tanks and for pipes.
MrEllis says freight cars could "and no glare." Associated the end of this year.-Associated the Council of Ministers included
the following suggestions. be moulded from the plastic, all Press.
cut.
Preis
ard mofferences i' over | tanomet
Business was done in the local exchange market.:: this 'kvorning, at the following reteniment US dollar-te 31)......... Aterling note (on 25)VARA
desert quilters (per 1001 11:20
Blàm tienis, iper 100) Singapore (Sfralte) PIC plastres (per 100);
34.20
American Firms
May Buy More Natural Rubber
com-
New York, Oct. 30. Domestic rubber раліся may Increase their buying of natural rubber
but it will not be done at the Instigation of the U.S. Government, according to Mr John Collyer, President Goodrich of the B. F. Company.
said that Mr Collyer U.S. rubber makers аге using about 65 per synthetle and 25 per natural rubbber.
cent
cent
The ratio would probably change slowly to 50 or 40, If natural rubber held its present price of around 27 cents M pound, New York. Synthetic rubber is DOW 23 cents a pound-United Press.
Japanese Exchange Accounts
Tokyo. Oct. 30. $13,000,000 unfavorable balance was recorded in Japan's foreign exchange accounts for October 1 to 20, according to statistics comeiled by the Bank of Japan.
Receipts were $110,054,000 against
totalling payments $123,492,000.
Exports totalled $64,612,000 or a $1,000,000 decrease from the corresponding period the preced- ing month.
Imports reached $94,003,000 or $500,000 increase over the corresponding period, the pre- vious month.
The adverse balance was $20,- 301,000.
WETC
Invisible trade receipts were only $40,042,000 as against pay- ments of $29,489,000 of which spent for $20,000,000 purchase of U.S. Government securities and bonds of the In- for Recon- ternational Bank stetetion and Development,
The favourable balance was $10,553,000.
30
an
Japan's coal production for the first half of the current fiscal
September year ending totalled
23,133,240 tons, mcrease of 1,140,000 tons com- pared with the same period last year.
Shipments of coal for the same period, however, fell short of production agurt 1,760,000 tons,
the
It vrás
by
thic
explained that means that coal went into stocks
during the last six months.
Stocks at the end of September stood at 2,087,285 tons.-France- Prosze
JOINT POLICY
DEMANDED
London, Oct. 30.
Mr Leslie Gamdge, President of the Institute of Expert; called on the Coiropnwealth "to trade together as one unit, rid our- selves of the fetters of the GATT (General Agreement on Trade and Fariffs)" and go all out for Imperial Preference",
He warned that although the recession was passing, a rather grim prospect still faced Britain, whose exporters are・・ fighting increased foreign competition.
Wrging the formulation of a coherent
manage polley to Commonwealth trade, he said the Commonwealth should · Jointly survey all its possible resources. and agree on a development plan In the luterest of all tis members.
Reuter.
Industrial Survoy
Taipol, Oct: 50. Aŋ 11-man || Industry survey- ing/group sponsored by the Provincial Industry Guild 'will leave for Tokyo tomorrow for a "month's" tour of Japanese · · In“, dustrial elties. Francs-Presspi
ROYAL INTEROCEAN LINES
To
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ASSOCIARI
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TJIFUNDOX"
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TJIFANAR" *STRAAT
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Nov
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Nay. 10
Nov.
41x0.
*THLUWAI"
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HVAN BRUTH”
Nov. 15
Nov.
Nov, 20 Nov. zz
10
TJIWANG
iter,
2
Athgapore,
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*
Dee. 2
fler.
+
Dec.
10
UPC.
12
Dec. J
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Japan
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tijakarta.
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Sematang.
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jakarta
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đ
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Japan
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Surabala & Dinoaksar Ringapore, Djakarta,
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ARRIVALB
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From
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Djakarta 4 Singapore
Remarang,
K, Amerien, B. Afries, Mauritius,
Singapore & Alanila
In Fort
Or1. 31
"TJIBADANE" "TJIPONDOR"
Nov.
Гарад
Nov,
#
Japan
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