THE CHINA MAIL, THURSDAY, SEPTEMBER 22, 1955.
TRADE and COMMERCE SECTION
Page
EUROPE SEEKS MORE $-AREA COAL Anxious Eyes On
Imports Needed To Offset Australian Gold HONGKONG British Links With
Local Shortages
FALL IN BRITISH OUTPUT
London, Sept. 21.
The coal shortage in Britain and Western Europe is likely to result in a sharp increase in imports from the United States, usually well- informed sources said in Luxembourg, seat of the High Authority of the European Coal and Steel Pool.
countries ---
Italy: A non-producer, is likely to be the hardest hit of the Pool France, West Germany, Italy, Belgium, Holland and Luxem. bourg. West Germany is still exporting but her coal market is "under pressure."
Special reports reaching London gave this picture of the West Euro- pean situation:
its
Luxembourg: The High
has reversed Authority policy of advocating a reduction of American cool imports by increased coal production with In the Pool.
Considerable coul imports ure necessary to bridge the gaps in supplies of bituminous and gas cual In West Germany, tho due to main producer, Pool's increased
the consumption in
iron and steel industry.
The High Authority could to ask for emergency powers control distribution on available an authorlly spokes- cool, but man said there was no need as West Germany's shortage and bottlenecks could be overcome
by the Imports planned and by co-operation between coal pro- ducers and consumers.
West German coal imports from the United States jumped from A monthly average of
New
152,000 tons last year to 231,000 tera in the first Ave months of this year, while Italy's Imports an average of went up from 238,000 tons to 419.000 tons in the same period.
Total Imports of Amreican coat into the Poo! countries have been steadily rising from a monthly average of 500,000 tons in 1953 to just under
in 800,000 tons a month
the Brat five months of this year.
·
French Exports The coal situation of France and Belgium
is regarded as basically sound. The reason for their increased purchases of American con! is that in the last few years, stockplies are now almost com pletely exhausted.
A
the pithead
source close to the coal and sleei community
sald ex- ports of French and Belgian coal to Britain, totalling about
York Stock Market
New York, Sept. 21.
in
6,000,000 tons a year, "are no way a problem."
"During the Birst four months of this year, France has exported to Britain 175,000 Long Bum 005,000 tons and Saar 325,000 tons, and these countries are most interested in keeping up these exports," he caldi.
Output Up
Canberra, Sept. 21. Mine production of gold in AustraHa in June amounted to $2,780 fe outtees, of which 02,060 Ane ounces were avaliable for refining in Australia,
The output was 5,609 One ounces more than in May bat 385 tine
dunces less than
average
monthly production for the year ended December, 1954.
of the total output in Australia June, Westerns produced 73,950 fine ouNCEN or 19.7 per cent.Ukinum Mail Special.
Rising Costs
A Worry
To Japanese
The
Tokyo, Sept. 21. Rome; Italian industrialists
Finance Japanese have been warned that next Ministry in a report made year, Britain will probably be able to supply even less coal public today said Japan; than this year. By the end of should continue her present this year, Britain t likely to retrenchment policy in the have
et supplied less than 10 per next financial year begin-
of Italy's total Imports, against about 20 per cent inning March.
1053.
Industrialists also leur Ger many, the main supplier, will also announce a further cut in
The the supplies offered. have already complained that, are tight, they when supplies cre faced with a monopoly post- tion in Germany.
Germany's Needs
In 1953, the Fool produces supplied about half the 10 million tons Italy needs each year, with the United States
STOCK EXCHANGE
(From Our Correspondent)
Business
the on
Stock Exchange amounted to $350,000. Noon
and tha qulations morning's transactions:-
SHARES BUYERS SELLERS SALES
INSURANCES
Union e Lombard
DOCKS, ETC.
K. Whart bock
Provident (0) 18 10.30 Wheelock
וי
1,000
B3
Underwriters »
1020
7435
60 R 73 100 of 28.00 1000+ 28.00
9.80 10
400 7 985
400 9.83
1000
9.0M
4000
9.33
10.00 18.90 200
18.70
500 G 10.0
500 18.70
800
15.70
04 64
43
200
8414 0412
..... 2.30 2.35
LAND. ETC. HK Hotel
Hall.... Land
Humphreys 20.40
Realty RUBIEN
(N1. 10.00
A Rubber22715 235 10000 # 72275
Coal And Steel
+
Community
London, Styl, 21. The Comell of 'Associs- tion between Britain and and the European Coal Steel Pool will be set u
abortly, British Lodiny.
קים
authoritative revealed
source
This decision was reach- ed' during the two-day visit to Britain of M. Hene. Mayer, President of Authorits of the High the Coal and Steel Coent- munity.
The creation of the Council was provided In an agreement between Britain and the Coal and Steel Community, signed December 21, 1954. France-FreMPO,
AMERICAN
COTTON
MARKETS
Soviet Timber Exports
Stockholm, Sept. 21. Scandinavian timber producers are keeping a wary eye on growing Soviet competition in their best export markets.
As yet, Soviet sales are limited. But they can soar once the Russians master their own domestic. timber shortage.
In 1952, Soviet sales of sawa | Unico To save the big saw timber to West European mills from destruction by the markets were only 128,000 | Invading German army, the Rus- standards. But they rose to sians moved them east-to 230,000 standards in 1953, to north-cast Europeen Hussia, to 280,000 in 1954 and are expect the north Urals and to north- ed to reach 350,000 this year. cast Siberia. New logging cen- Over
standards 300,000
tres were started there to feed these millis
1955.
are In the
known to have been sold frui seven months of
After the war, they were left This figure looks modest be on their new sites and new mille
As a re side Sweden's exports of 950,- were built near then, 000 standards, or Finland's ex-sat there eastern districts have ports of 750,000 standards last become the main centres of So- year. But it is no Indication of viet timber producilon,
Soviet production, on which
sawn
This change of location means
her real export potential de-longer hauls from the sawmills
to the western poris of shipment - pends.
Total Soviet
timber and to the big consumer centres. production
For these last year in esti-in European Russia.
standards, |Jung hauls now forest ways, new
railways with an average of roads,
and vehicles about six million standards in must be provided, all of which the immediate pre-war years. takes time. Her exports last year were, thus, about 2.5 per cent of her total production. abnormal ratio.
3000 230
1000 G 2,190, 5000 m 2.325
4
5000·67 2350
5000 * 2.30
Trust
3.25 3.33 1000 @ 3.325 UTILITIES
Tram..... 24.40 24.70 Star Ferry 142 16 Youmasi Ferry
Light (0) 23.60 23.70 Electrle
mated at 10,700,000 compared
114
50 61 43
New York, Sept. 21. Cotton futures today opened steady, then rose slightly show gains of around bale.
to
st
Macao Elec. 11.00 Telephone 344
500 27,80
G
years
In quiet dealings, domestic textile mills and shipper buy-
absorbing Ing orders kept 50 a 22.90 reduced volume of hedge selling
and October liquidation.
Closing only a few points under the best lovels, the list was 6 to 18 points net higher. The market opened up 3 to 8 96.15 5000 @ 10 points. New Orleans closed
points higher.
Hope
Dalry
22.70 22.90
Watersi
24.00 COTTONS
Textile Corp, 5.80 5.90 Nang
8.50. MISCELLANEOUS
Yangisse
The report, entitied "National Finances of Japan," sald re-
Cement .... 18.30. 27 quirements for nationes expandi-INDUSTRIALË tures were increasing because of pensions, social security, deficits STORES, ETC. 17.10
Anances of local governments, defence costs and increased food production.
The
report stressed, however, the Japanese Government should "easy going not resort to such measures" as Notation of new government bonds or raising the tax rates to solve the problem.
TAXATION
"
New York Sugar Market
The report said any increasT and Britain almost equally in fiscal investment in expansion providing the rest. Last year of industrial facilities should be
New York, Sept. 21. Sharp United
cuts in British supplies
within the limits of World No 4 sugar futures to States imports confined
day closed unchanged to 3 to nearly three million tons and
"Sound money" policy,
Excessive Ascal hvestment points higher with sales of 125 this year they are likely to total
would increase Imports, de contracta, over five million.
teriorate the balance of inter- Domestic No 6 sugar futures
and revive | closed unchanged to
I point national payments inflationary tendencles, the re-higher with no sales reported.
Stoodiness In the world con- port said.
tracts reflected trade buying in with the firmer line
Strength in motors and a few other selected industrials lifted the average for the group to a new all-time high on the New York Stock Ex-cording change today.
Activity picked up as prices | Commonwealth Elec. rose. Turnover totalled 2,460,000 Consolidated Edison shares compared with 2,090,000 Continent Oli of Dei. yesterday.
big
Continental Steel Cum Products Crane Co...... feature, Crown Zellertsch
The day's
| Cuban Amer, Bugar Chryster Corp., ran 4% points Curtis Wright to a new high of $95 ពន the Damonet Akali Chrysler President predicted a Dow Chemicals
Dupont do Nemours
bright future for the company. Eastman Kodak
General
Po National Gas Motors moved in Erie Railroad... line with Chrysler, adding al-Family, Finance Corp.
General Electric most 2
points,
Youngstown General Foods Sheet & Tube responded to an General Motors optimistic report by its Presi-Gen. Pua, Util. dent, rising 3 points.
Industrials were up 2.31 on average while rails declined 0.27
and utilities exiged up 0.14.
Of a total 1,104 Issues traded,
Gillette Safety Razor Fidden Co.
Goodrich (B, P.) Co. Goodyear Tire
Heyden Chemical Ingersoll-Rand
Inland Steel Co. laterchemical Corp.
Inti Bualises Machined
there were 505 higher, 308 lower. Int Harvester
Among ralls, Union Pacific Interna Hora: Nickel Blood out with 2-point ginn. Internations „Paper
Among the
better Int'l Tel & Tel day's
John-Manville Co Painers, Continental Oil, Stand-
Kana Power & Light Kennacott Copper Liggett Merers Tob. Co. Lockheed Aircraft
ard Oil of Indiana and Texus Co. all rose a point or more. Dow
Chemical, International Paper, Electric Auto-lite, Fire- stone, Goodrich rose 1% to more than 2 points,
A few high-pricexi Les receded slightly, US. Gypsum declined
a point to $310 and International Business Machines fell the same amount to $407.
New York Stock Exchange bond volume was $4,200,000,
American Stock Exchange volume was 830,000 shares.
Dow-Jones closing averages
AVCTC:
30 Industriale
20 ralla
15 utilition
Es stocks
40 bo
Comm. future price index ..
Love Incorp. Lone Star Cement Co. Louisville Nashvůle 11. Lowenstein & Sons. Mesabi Iron Corp. Minnesota Mining Mimion Development Monsanto Chemical Co. Montgomery Ward National Cash neg. "A' Motorola Ine.
National Dalty Prod. National Distillers National Lasú National Bleel Card. New York Central Oặn Mathieson Olle Elevators Owen-lincia Cinabi Pacifio Gas de Elega Fadio Western Oil D.. Pan American Airways 480.06 Paramount Pictures 102.13 Penny J. C., Co, 85.00 Part Bait Co. 17280 Empe Petroleum
163.80
Closing Prices
Alden Inc. Any,
Allied Chemicals
Allied Mills Inc.
Allis Chalmers ..
American Audinia.
American Cyenamita Co.
Am Mich. & 7. def.
American Melal American melting American Tal & Tel American Tob, "1" Anaconda Copper Armoo teet
Armour
Baihwin-1.fern-Ham. Baltimore & Ohio
Spendix Aviation Corp.
Benguet Cana
Beulater" Steel
z Boslog Airplane
landin C) 60,
Burroughs Add Machine Cvendien · Pwelife - R. CILAT TIDEocial Corp.
Procter & Gamble Co, Pittsburgh Plate Class Publicker Lodustries Pure on
Redio Corporation
Rec Moter
Public Stol
Reynolds Motal
#241
Shell Oil Co.
118%
Saint Rog., Paper
30
Bltclair Oi
Bacony Vacuum
Bouth Porto Rico Bugar
6116 Bouthern National Gam
20% Southern Railway (Com.)
58
Stanford Bride
Biandard Oil of Cal.
100% Biandard Oil of Ind.
The report also said it would be very difficult to increase the tax rates because the Japanese
tax burden
was reaching its limit.
In conclusion. the report suggested that better use should be thade of private capital ac- hns been cumulation, which for 1955 js
growing as a result of the "dis-
policy. 128 Inflationary"
Bonn: There is no real coal shortage in West Germany, ac- to the Government bulletin, but it will have to fu Crease coal imports to 12 million tons this year compared with
1054, mainly people's $9,500,000 tons in
because coal production has not kept pace with increased in- dustrial activity,
particularly 401% bely steal production.
Coal production estimated at about 131 million
with tone
compared milton in 1954, a rise of 2.8 production is darly
28
40
447
BU
20314
52%
per cent. Steel
223
estimated at
2434
紅ポ
14
4132
21 million
Increase
of
tons compared with 17,400,000
tons last year, an
about 12.4 per cent.
But Germany is still a coal exporting country. Last year.
75 she sent 28 million tons, abroad and is anxious to keep exports this. level to
retain up to
China customers" goodwill.
8047
GO
4 Mail Special.
40819
20
RUBBER MARKETS
Singapore, Sept. 21.
The market opened steady and eased later on lock of support and liquidation. Futures:
Na. 1 ruhbar per ib. Oct. 14715-1423| Nov. 147-1471%
142-143 No. 2 rubber per 1b. Oct. No. 3 rubber per lb. Oct. 140-142 No. 4 rubber per b. Oct. 13315-134 107-14715 Spot rubber unhaled
12115-11916
Blankal prepe
No. 1 pale crepe.
NEW YORK
149-150
New York, Sept. 21.
Rubber futures today closed
lower sales of 240 contracts.
40 to 110 points
Malt Special.
China
London Stock Market
MALE
market, although prices were quotably unchanged.
Domestic raw market ruled and featureless. Futures:
Contract No. 4 (World)
Liverpool brokers were small buyers of the nearby months.
NEW YORK PRICES
New York, Sept. 21. Prices of cotton futures closed today as follows:
33.00
Soot
December
October
March
MAY
July October
December Merah
Thin
Use U.S. Methods ·
is
an
Despile Improvements, trans-
In the immediate pre-war port and logging equipment are the Soviet Union's ex-still inadequate and some 30 mil- ports averaged 1,300,000 stand-on cubic metres of felled wood ards, or about 20 per cent of are left behind in the fortate her average annual production each year.
ΤΟ of six million standards.
improve their forestry equipment, the Russians made a thorough study North American matkoda after the war and BYO now mass-
Big Difficulties
If she
had been
able to
of
on
maintain that pre-war per producing American-type fell- contage, her exports from lasting, lodding and transport have equipment. This machinery is year's production would been over two million tons, or often driven by mobile electric
alations working power. more than twice Sweden's ex-
producer gas. ports,
As the structure of the timber plants is difficult because they Maintenance of all these Soviet Union industry in the
are dispersed in regions with 91.02 hus chagned since the war, she
communications. Also, the poor may never again attain
there is a shortage of spare Never- pre-war percentage, theless,
she can, Scandinavian parts and skilled mechanics. The production of spare parts producers believe, greatly
and the training of manpower exceed the post-war - 35 per
has not kept pace with the out- cent ratio between exports and
put of finished machines. production.
31.
$2.00
22,43
22.11
22.00
-United Press, NEW ORLEANS PRICES
New Orleans, Sept. 21. Prices of cotton futures closed today as follows:
I
Spot
Oct.
Dec.
Mar.
May
Oct
July
Oct
Mar.
May
Doc.
Jul
Mar.
Sept.
Spot-cents per lb.
thefob
Cuba)...
3.23
3.50
Contract No.
Μαν. Mar.
$40
May
5.39
SAD
5.50
Spot-cents per m. cit
NY ez-duty) failed Prem
Exchange Rates
To do this, the must over- come big dificulties, the math of which are:
1. greatly increased domestic neode,
All these difficulties will, the producers be- Scandinavian leve, keep Soviet competition. within bounds for some time to come. Soviet competition could,
become quickly
2. tisport difficulties aris-howover, ing from the new geography. of Soviet sylviculture,
33.24
32,39 32.35 37.58-80 37.42
22.06
United Press.
of new machinery after studies logging methods,
|Other Cotton Markets
LIVERPOOL Liverpool, Sept. 21. Cotton future closings, Ameri- can middling, in pence per lb. were as follows:
30.50
29.90
23.50
28.00
27.44
„United PreRE. SAO PAULO Sao Paulo, Sept. 21.
future Cotion
closings, cruzeiros
per kilo wero
Det/Nov.
Dec/Jan.
Mar/Apr.
Mar/June
July/Aug.
this
1280
16.40 follows:
24.10
Oct.
183 7.02
• Dec..
Mar.
May July
London, Sept. 21. Stocks were mostly firm on the London Stock Exchange to-
Business was dono in the local
exchange, market day, as the gentle selling wave uncficial
morning at the following rates; of recent sessions falled to re-
U.B., dōllar (per 81). Sterling notes (per 21) appear.
British Government stacles Australian noles (99 (6)
a strong note and Indonesian rupiah (per 100) opened
Siam fcals (per 100) tacked on gains of up to 24-Singapore (Straits)
Indo-China plastres (per 100) United Presa.
on
Japan's Big Rice Crop Will Not
Affect Burma Contracts
Rangoon, Sept. 21.
30.10
31.90
33.34
sorious if the Moscow Govern- ment decided to curtall domes- up open 3. Inadequate maintenance the consumption or
of the neglected installed again some
Russian forestsChina WUSL of Americon
Mail Special.
4. a shortage of manpower,
particularly
workers.
in needs
of
have
skilled
been
by post-war recons- truction and the rising indus trialisation of the Soviet Union. These noods cannot yet be fully met, as is shown by the fact that none of the post-war In annual production plans as beer fulalled.
22,48
32.40
United Press.
has
Singapore
Stock Market
Singapore, Sept. 22. Brokers today quoted the following stock prices:
Industry Moved East Battan Rubber
Barseo Drita
Syndicate the consalidated
Opening $1.07 Poiroleum
45/3 In some areas, notably
Tin Smelters 20/9
31.77* poorly forested agricultural dis-Fraser & Nervo Lid.
Fraser, & Neave Lid 147 of south Russia, tricts
the
pret.
$0.40 shortage of timber has dras-Hongkong & Shanahal Bank 20 Karachi, Sept. 21. tically slowed dewn building. Hongkong Tin The market recovered today To ease the situation, the build after a slump in the previous ing Industry has been ordered
showing Hongkong
session,
KABACHI
Interest in Pakistan cotton yams, to we steel, concrete and other place of wood and business was done at 28d materials in a pound cif basis. Prices of raw, wherever possible.
to reduce the The aim to cotton closed today ki rupees per
building industry's consumption maund as follows:-
80-10 of timber by 25 per cent,
Wor
the produced forestry, geography of the Soviet
47 Sind roller-ginned | 281-FNT. Sind
roller-ginned
-gine
roller-ginaad v saw-ginfund
Spokesmen for Burma's rice growers said 23-FNI Fundab today that Japan's record rice crop this year will with not affect the agreements by which Burma, sells
rice to Japan.
cables and
Burmese rice men said they were glad that realising by some of the recent
down Japan had such an excellent crop, and that it would
London
prices
10
Bo
Lower
buyers turned
ward, although, extreme lots not affect the sale of 23,000,000 tons of Burmese wero parted covering the rice abroad during the coming year.
34% buyers
Mar.
68-10 B0-10
$1
-United Preu
London Metal Prices
London, Sept. 21.
The in market waa steady with a turnover of 8 tons Other metals 'were firm. Prices closed today in sterling per long ton as follows:
Spot
close.
The rice men noted that in market, but the Government has The' spot market ruled dull
in shown no signs of price reduc- with factorica
other an official answer Jitat week and
Spot the Upper House of the Burm-tion. There also has been a DOW marking time. No. 1 Rss were offered at 49% ese Parliament, the Government tendency toward barter-that is,
3-month Burma exeininger ring for: * Mayo satistics
rice on recent G conte a pound. Futures:
#pot sales. From Sept, 1 of 1954 un-commodity from the other coun- Copper 18% til July 7 of 1955 the Burmesery Such an agreement was
2-month 1791% De
Government pold923,430,000 signed on July 1, 1955, whereby Lead and hair"
Sept. of white
rice with a valtie Burma will send from 100,000 to 40 tons of
Dee of approximately US $101,000, 200,000 o of rice annually to
Zine, Ind hat.
Supt. 1000 and 450,145 tom of parboil Hustla in exchange for Boviet od rice with value of UB640 - materials, on a Ave-your" bérın. AMSTERDAM
Subur agreementa, 290,000, In the preceding Pent the Burmese Spexported 1179,000 smaller scale, wire, Bigned - this Amsteellärm. Slopt. 21.
of white rice, valued: The rubbernacket was way, Mons $10 Prices closed today, in guilders US$113,000,000. AlthougsS
Oct. gif basis as Lather, Egura: ja qimetitiv
[thati: revenŠ:
70
Blandard of of N.J.
72
Sterling bug co.
4914
Bickely-Van_Camp.
-20.
164
Studebaker-Packard Corp. Awirt & Co.
BIT E Co. .....
Dec.
14
B500 Water Asen, Ol
"16"]] Twenty, Century Fox Fin
18 Union Carbide
Union Prethe Railway
United Aircres
U18. Gyse, CA
dine Co.
|ULA, Rubber
Warner Bros. Westinghou
WM
Woolwo
¿with Yugoslavia and Israel. beyler is due to get 120,000 Coda
Czas liveries due in December, Bus
buyers
7071
wallarn
BA
706
100%
NEW, YORK FUTURES **-
Now York, Sept. 21. Prices of "matal, futures closed today in cursa per 1b, as follows:
Kompas. Lunas Rubber Estates
Malayan Breweries br
New Serandah Rubber Petaling Tin
Raffles Hotel
$1.00T $1.50 $3.65*
Bingapore Cold Storage South British Insurance Co. se Straits. Trading
SteamEHip United Engineers Wearne Brow
cd can dly,
Die Stamping
China Mall Bovciel,
The South China Morning Post, Printing Department is equipped with modern die-stamping facilities.
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and MONOGRAMS
stc
Call and inspect bur
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