THE CHINA MAIL, WEDNESDAY, OCTOBER 5, 1955.
TRADE and
、
COMMERCE
SECTION
ZAIBATSU RE-ESTABLISHED IN JAPAN
Banks “Master-Minding”
China's Trade Up By
13 Per Cent
London, Oct. 4.
Communist China's fm- ports during the first this eight months of year "were almost
per cent greater
13
than
In the same period last year," the Communist News New China
Agency reported today. The Agency said
"A
breakdown of figures shows trade with Soviet Union and People's Do- mocracies registered a 10.8 per cent increase and trade with South- east Asia and other countries cent increase."
a
22.4 per
RUSSIAN HELP Imports included equip ment for 156 key pro jects which Russia "is helping China build." Items imported include] electrical, metallurgical, mining, oil drilling,
hoisting and
harbour
equipment, vessels, ma-
chine tools and motor trucks. Reuter,
New
Realignment Of Industries
Japan's Zaibatsu
prewar
Tokyo, Oct. 4.
the financial interests "appear to have re-established their leading position in various Japanese industries”, according to a report released by the Government's Economic Planning Board.
The report said Zalbatsu banks had been "master-minding" the realignment of industrial enterprises in recent years.
*
The report noted the revisionernment for the last two years of Είναι Occupation-sponsored | has also compelled feading firms anti-trust and fair trade jaw in in respective industries to exert efforts, such as cartelisation, to 1940 opened the way for merger and re-concentration of Japanese cut production costs and control compantos, especially Zaibatsu marketing and pricing. Arms which were split in the immediate post-war period,
onca,
The report said the trend for amalgamation
spread from sneller firms jarger
to gradually involving the trading section as well as the maputec- turing section of the Japanese ECONOMY.
For instance,
leading steal mills have now placed most of and steel dealers under their control, the
the smaller
report sak!.
plants
Cutting Costs
and
The report cited the example || of cartellsation of leading coal mines and the "big len" "colton mills to regulate production,
Growing Trend
The report said the Zaibatsu banks had been able to act us "motive power" of the realigo
Firstly, ment for two reasons, the Zaibalsu banks were not spilt under the Allied Coupa- tion and secondly, industrial banks had to depend heavily on financial institutions in the post- war period because of the low rates of profits for Industrial enterprises.
the said
WHY COPPER HONGKONG London Prices
PRICES
HAVE RISEN
Santiago, Oct. 4,
Mr Frank Milliken, vice- president of the KanIDO- cott Copper Company, said the high price of copper in world markets was abnormal and reflected only the present shortage created by strikes at mines
the United States,
Chile and Rhodesia,
These strikes had pre- vented the formation of adequate stocks and the copper boom had been ac colerated by the economic recovery of European coun- tries, he said. High prices, Mr Milliken added, tm- paired the position of Alaminium was copper, already being used e- tensively as a substitute.- China Mall Special,
Recovery In New York
Cotton Prices
New York, Oct. 4. Cotton prices today re- gained some ground after Monday's steep 'slide to sea- sonal lows.
In active dealings, the market swayed over a range of $5 a bale, but ruled above
the previous rates most of the timo closing except for a short-lived open-
STOCK EXCHANGE
on
Close Firm
under
London, Oct.
·After a rather sharp early fall London rubber tricos clownd on * firm with some forward (From Our Correspondenti
haff positions showing Business
penny gain the Hongkong
on yesterday's levels. Stock Brohang this morning amounted to
Tho $860,000.
opening, values At the market closed firm with
Oontinue to case # number
of shared
celling pressure following showing rises. small
Noos quotations
another sharp break af and the mornings dealings:
Singapore and by mid- mession losses of twopence SHARES BUYERS SELLAIS SALES had been recorded. BANKS
During
the
afternoon demand appeared and put the price on the uptrend, With support from New York, recovery fartbered by re-entry of desters und Grade Bagere and the mag- ket closed firm-Reuter.
HK Bank... INSURANCES
Union Lombard Underwriter DOCKA, ETC.
K. Wharf..
****
17305
10.10 1000 DEP
23 75 100 ft 7?
28.00 500 as 2950 Provident (0) 15.00 10.10 Wheglodk
0.85 9.90 2000 a 9.73 10000 9.09
1000
LAND, ETC.
HK Hotel ... 19.40 1870 200 18.30
HK Land
Humphreya Rentty RUDBER
1300 10.50
BOO #04
64 6415 30 in ecs
30.40
(N) 19.00 20,20 2.275 2.423-
2 2.10
600 @ 1435
A. Rubber
XD UTILITIES*****
Tram ....... 241 24.60 400 @ 24.50 500 24.00 1000 20
500 24.00
Star Ferry
140
Y'mati Ferry 116 110 100
110 200 113 100 11
WORLD RUBBER PRICES
Challenge by Synthetics
WARNING ON
Page, 9
PRICE HIGH
OF
NATURAL RUBBER
New York, Oct. 4.
Mr Harvey S. Firestone, Jr., Chairman of the Firestone Tyre & Rubber Co., said today it was "not inconceivable” that natural rubber might price itself out of the market unless. it remained competitive with synthetic rubber.
"It was the abnormal riso in the price of natural rubber earlier this year that provided the extra spur to expand synthetic rubber producing facilities," he said.
Mr Firestone issued a state- ment
before his departure abroad the Queen Elizabeth en route to Liberia to attend International Rubber Conferenco
the
in
| 154 a representative of the US.
State Department. While Europe he will also inspect his manufacturing in- company's teresta in England, Germany. Switzerland Spain and Sweden, He said: "What with the great
Cotton Mission Going To Egypt
At
Manchester, Oot, 4. the invitation of the
Egyptian Government, a Euro
to visti Egypt to report an
advances made in synthetic
pran mission is inconceivable rubber, it is not that
early in October the price of natural
Ashmauni coltan... rubber remains abnormally high it will ultimately price itself out
According to the body respon- of the market. This much is Singapore, Oct. 4.
sible for the visit, the Inter- Lower overseas advices caused curtain: the price of natural with
nallonal Federation of Cotton heavy liquidation in the rubber rubber in not competitive
and Textile Industries, cotton- There was some that of synthetic rubber, the use market today. support by short covering but of the natural product will de-spinners had complained about a buyers were reluctant at thecline proportionately while the gradual deterioration of quality in grade and staple of Ashmorní Close Futures:
use of synthetle will increase."
He urged natural rubber
cotton. growers to meet the challenge from synthetle
Recently the Egyptian Govern- rabber by re- placing present low-yieldingmont find adopted various mea-. stock with new plantings of sures to improve the Ashmouthe high-yielding trees, at the same crops especially as regards parity time increasing the productive of the seed. The lesion aims acreage and cutting costs by to appraise "The effectiveneer of
tivose more efficient operatione.
measures, as seen from DA cotton-spinner's point of view,”
C. Light (0) 23.20 23 100 23.10 No. 1 rubber per lb. Det. 600 4 23.10 No. 7. rubber per ib. Oct. 100 + 23.40 No. 3 77623.40 No. 4
130-13014
Nov.
1993-130
128-12
120-127
120-122
C. Light (N) 17.90 18.20 3734 @ 19 Spot rubber unbaled ".. 130-130%
2000 18.10 arkes crepe Electric 424 422 1850 @ 4215
No. 1 pale crepe 13031-1375 Macao Elec.
12
Telephone..
Ing setback.
AL the close the list ruled 2
INDUSTRIALS
Cement Rodo
..... 37
35 3514 100 39
1600 @ 3514
38-3200 @ 377%
17.20
20.00
21 500 20
1000
375 07
Dairy XD
Another example was the re-
of the Moration
close tie-ip
The report
recent copper smelters between cable and wire makers, the re-mergers of Zaibatsu trade Arms and affilution of the synthetic port said.
the textile Industries with The "deflationary polley" en-petroleum Industry as supplier forced by the
Japanese Cov-of raw materials was likely to
The accelerato
tendency for to 78 points higher. Opening STORES, ETC. prices were off 29 to up 4 economic re-concentration.
points. New Orleans closed up Capital Investment for indus-10 to off 4 points, trial reorganisation would fur- ther accelerate the expansion of larger enterprises and recession of smaller und weaker ones, the Mail addbod: Chira report Special.
York Stock Market Prices
New York, Oct. 4. Steel and automotive shares led a substantial recovery in the stock market today in the face of severe competition from baseball,
Early trading was brisk, but market interest waned abruptly as the time approached for the final game of the world series. Turnover declined to 2,020,000 shares from 2,720,000 yesterday.
Market commentators said the Crane Co. stage was
back through
Dow Chemicals Dupont de Nemours Eastman Kodak
Crown Zellerbach got for the renewed Cuban Amer. Surar advance when yesterday's Bell-Curtis Wright ing failed
industriais Diamond Alkall to push.
The low set di
Further Monday's big break. favourable word of the Pre dent's recovery helped senti ment,
El Paso National Gus
Erlo Rallroad
Germany - Japan Trade Talks
To Begin Soon
Market experts thought Mon- day's selling had been overdone and that the list was undergolog a technical correction,
corTONS
Textile Corp 6.65
Nanyang RODS
Allied
500 621 250 21
6.60
5.65 5.00 1000 A 5,70
tess New York Sugar
Market
102-104
United Presa. NEW YORK MARKET
New York, Oct. 4. Rubber futures today closed
70 to 100 points higher with Higher Output Needed
The five countries who are sales of 310 contracts,
The market staged a small
"Only in this manner will main consunters of Ashmound Indly after a lower start, res- natural rubber growers share in cotton---France, Germany, Swit- future progress of the zorland, the UK and Italy-- ponding to short covering, by the some of Monday's sellers and a rubber Industry.
will be represented by two technical replacement demand. "Production of both synthetic members each,
ruled quiet and natural rubber must be fn- The spot market
if the demands of the with small salce involving creased
The Director of the Inter to are be adequately national Federations will go with December
sheet at 44 future ono cents and December four sheets met"
includes "He estimated that by 1085 cotton fans and ginning mills
them. The itinerary at 42 cents a pound, Spot
rubber consumption No 1 Rs were offered at 47 world would
have risen to 5,300,000 in Upper Egyet and a number echts a pound. Futures:
(3.20-25 (long) tons or about 50 per cent of Institutional research Dot.
tablishments. ; A large part of 42.40-45 more thun 1955 levels.
To meet this expected demand the mission's time,
xis company han will be devoted to official talks and Visito plans to expand
governmental production capacity at fts agenciesChacza, Mall Speclát, Akron, Ohio, synthetic rubber plants by 36 per cond. This is in addition to a 50 per cent in production at the
star.
May
July Sept. Doc.
to
world
closed futures No. 6 sugar unchanged with sales of 22 contracta.
understood
41.15
38.70
30.85
37.60
United Presa
for rubber, approved
Buyers confidence was aided by reports of heavier próducer entries under the Government loan programme And favourablo crop accounts.
Dealer's pointed out that yes- the decline carr!éd. terday's average spot price for middling
New York, Oct. 4. IA at the 15/10 inch cotton
World No. 4 sugər fatures routh markets to 32.60 cents a pound, establishing a discount closed today unchanged
LONDON MARKET of 109 points-$5.45 a bale-point lower
London, Oct. 4. under the average Government.
The rubber market was firm loan rate for those points.
increase with spot quoted at 38% pence The Government weekly crop
ftim's dealers, por Ib. Prices raws, sumanty was regarded Bonn, Oct. 4.
Louisiana. Japan purchased No. 1 Har spot
Settlement house tenni
In
Firestone German-Japanese talks on favourably. Moderate to heavy
addition, vealed that his company has new lists of goods and other showers interrupted picking and between 40,000 and 50.000 tons Nov of Cubans during the last few Des. орст come domage to
JanMar
placed a contract for the Just conta
Apr./Junio trade problems are expected otton over wide sections of the days at 3.28 to 3.29
40,000-ton construction of a July/Sept. extooding from 21 to begin here in the middle belt
south pound, fob.
Cuba, to the General markets, eif basis, ports:
574-377 Dealers said, 2411 of October, Economics eastern New Mexico eastward
3734-377 Carolinas and Virginia. end of September, had sold o
"United Press. in the Ministry officials said today.to the
1,892,209 long tons In the far south-west, however, 1,892
AMSTERDAM MARKET The markcot.. Under The new lists are to be effee-fair weather favoured opening micnational
Amsterdam, Oct. 4. sugar pact Cuba
The rubber market was easy, tive as of October 1. The Ger- of bolis and harvesting.
the has a world export quota for Cctober liquidation at
tons. Prices closed today in guilders inan and Japanese negotiators
por kilogram, elf Oct. Futures: will also discuss ways to cover optring followed the issuance 1955 of 2,081,000 metric
follows:- debt to oversight of delivery notices for
8,500 bales.
70
4014
Family Finance Corp.
40
70
130
3814
的痛
73%
General Electric Getteral Fuoda Gen. Pub, Uul. Glatta Safety Razor Glidden Co.
Issues hardest hit in the sell~ | General Motors ing yesterday turned in the best performance today, with stool and automotives leading the way. Bethlehem and Republle ron up 8 points, Youngstown Shoot & Tube 2 and U.S. Steel, Crucible and Republic a point or more,
General Motors and Chrysler each added Almost two points.
There were 1,145 Issues traded, compared with 1,209 on poster day's decline, with 590 higher, 320 lower.
among
the
Alrarafts word better gainers. Lockheed, Glenny Martin, North American, United
Choostrid and
Dynamics
around a point to two points.
Goodrich (B. F.) Co. Goodyear Tire Hayden Chemical Homstake Mining Co. Ingersoll-Rand Inland Stool Co, Interchemical Corp,
Int'l Busirtesa Machines Intt HarvEČNĚKT
international Nickel International Paper infi Tel. & Tel, Jobs-kimwille Co.
Kansas C. Power" de "täght" Kennecott Copper Liggett Meyers Tob. Co. Lockheed Aircraft
Low Incorp.
Lone Star Camar Louise & Nashville R.
Lowenstein & Sons Mesabi Iron Corp. Minor Mirrig contract in Gorral Mision Development
Monsanto Chemical Co. when isscod
Glennantgomery Ward
Activity Motors
Martin, U. S. Steel, Chrysler Motorola ino and General Motors,
New
National Cash Reg.
York Stock Exchange National Dairy Prod.
bond volume was $4,833,000.
National Diúliers
| National Lead
American Stock Exchange National Beer Corp.
volume was 610,000 shares,
Dow-JoncI closing averages
WODO:
20 induririala
.80 TO!
New York Central Olin Mathieson,
our Elevators
Delete Che Pacific Cor & Elec. Pacific Western Qui
Pan Americare Airways
Paramount Pictures
Ponny C. Co.
the Japanese trade
West Germany.
船舶
474
37%
The officials
100
27%
79 decision
mark Currency
40
105
438.18
152.20
TELE! KANG
€2.56
#3 irbods
184.03
40 boride
00.53
Parks Chefs Co.
Comm. futuro price index 151.ca
Pam Bait Co.
Philip Mor
Philip Petroleum
Procter & Gambler Co.
Publicker Industries
#1033
Pure Oil
2717
44
Closing Prices
Alled Chepdcafe
Allied Mia Isa.
Ante Chalmers.. American Airline American Cyanide Co. Amt. Stich.▲ 1 dry. Anteriors Metal Ameriam Bangsting Aim. Buger Bet, American Tel & Tel American Tob. Ansend Couper Armeo Stoel 15541. Armour
Y
Baldwins-Lima-Ham.
Baltimore Onio
Tendix Aviation Corp.
Bears Com
Bethlen Stadi
Hosing AirDİRD
Istrden (Ther Co,...
Introucher Add MyUIRES
Cry Financial Corm
Jork Prodio09 (305)
Radio Corporations
Reb Motors
Republic Steel
Reynolda Metal
Shell Oil Co.
Baint Best Paper
42 Bincial Oll
3*
Socony Vacuum
South Porto Rico
Bugat
Bouthern National Cos
Boulgem Railway (Com.). Blandwrd Breda
Standard Oll ok. Cal.
Standard Oll of ind
Standard Oil of Niď.
Sterling Drug Co.
Abkely Van, Camtip. Studebaker-Packard Corp Bwin & Co.
T#ko# Co.
Title Water Ann. Di
Twenty Citury To Fi
30% | Union Carúšie
1616 Union Façifle Railway
United Aircraft
KIGGU.B. Line Co.
LIMU.B. Belling,
Economics Ministry
caused
sald the Japancae were: to admit the German | Month as official foreign trade Oct. Lee, in Japan had created Mire. all the necessary prorequisites May July for the new payments aprec« Oct,
ment which came into force on October 1.
present a delegation of textile industrialists
At Japanese
Sa in Germany to sound German authorities
and German trade on the possibility of the import textiles-China Mail Special.
un-
world
Contract No. 4 (world)
Trading volume and open in- tere 1 in the Exchange today. Mar. May July Volume Open interest Sept.
19,800 57,709
2,22
198,600 716,400
Spot-(centr per in. fob Cuba)
111,500
$35,000
Contract No. 6
117,400 527030
47,500
170,000
20.000
122,400
Маг.
6,30
May
0.41
1,000
Brot-foente par 1. cit NY
́ax-duty)
0.57
United Prams,
Dec. Mar.
Total
21.300 48,700
7,300
433,700 2,014,723falo
Emed Press.
NEW YORK PRICES
New York, Oct. 4.
Prices of cotton futures closed
out the
of Japanese
today as follows
Spot
Det.
Dec.
Mar
May
July
Oct
Mar.
When Trade Becomes A Danger
Genova, Oct. 4. Mr F. G. James, Australian aarployer delegate, told
the textiles committee of the In- 3 temational Labour Organisa
tion hore today: "as a general
Interna 50% rule we believe that
484%
401k tional trade can be a very im 834 purtant factor in raising world 28 living standards.
004 "But it can also constitute
threat to full employment In d
Deg.
23.250
32.00 31.03-04 30.08-00
30.73
30.45
38.41
30.08
30.23
United Press.
NEW ORLEANS PRICES
New Orleans,. Oct. 4: Prices of cotton futures closed today as follows:----
Spot
Oct.
Dec.
Mar.
May
July
Out, Dec.
Mar
$1.00
COON
Singapore
Stock Market
Singapore, Oct. 5. Brokers today quoted the fol- lowing stock prices:
Opening | Datu Lintang Rubber M $1.3 Brite Borneo Patrolator 43/D Confeitad Tin Ebailers.. 30/0 31.08
·$1.70% Fraser & Nove 31.05-07 Fraser & Nimeve te pa pret 38.305 31.07
Hongkong Shanghat Bank, 1910. 0317} Tourbon Tin
Tro
30.16-17 Kompas
$1.00
30.43
Lunas Jabber Estates Malayaw powere
$2.67
$2.50*
New Berandall Rubber
Pataling Tin ............. Rafe Hotel
*4.87
35.37 30.30 United Press. LIVERPOOL · PRICES."
Liverpool, Oct. 4. Cotton
futuro closings, Pence per 1b, American mid- dling, were as follows:-- Old contract Oct/Nov.
20.80 Theer/Fath ... 1743
23.20-40 May/June 2
afgiven country and, in this case: How gorursel May/2obe * MID
2012
1301
IT
we must condemn it.
*If any country practises o
A polles it exploitation
10
whicht
throatens full employment inf
BAO 'PAULO, PILICÉS
São Paulo, Cat. 4. Colton futures closing, in
Australia, our country will cruzairos per kilo were as fol
12 unite to oppose such a policy. low
"It adem to me that 'rrány countries share this poirit of
1 vlow!!
West Van Pulp & Paper Woolworth
Westinghous
Jay
In the United StatING. kverage, prior of 15/16 min ding: Hapter Jurtsoa, te dn expétitive of cutton at ters · deusgulated.
the Jack, OʻLanterni - Mamatan- market wir 38,39, turing. Cothpany, of Melbourne, at thero centros fotalled 35,981 -China Mall, špeciali
Bulgapore Cold Storage South British Durango Straits Trading
Straite Beamkilp United Engineers. Wourne Brow vol
• od-Line Idaşi special
No. I rubber No. 2 rubber No. 3 rubber
No. 1 crepe
t
381-385 3814-3037
314-307
3094-3636
3331-35% 3318-33-15/18
3.65 buyera
3.52 buyers 3.00 paid.
3.60 nom. ---United Press.
London Stock Exchange
ta
however,.
plant at Lake Charles, Rights For New
Nickel Plating Process
| butadiene plant.
A New Type
Sydney, Oct. 4. Commenting on his company's The enghiddefng' firms of A.E. pilot plant production of a new Goodwin Ltd.,
Has obtained type of synthetic
rubber Australian rights from tho "duplicating the physical
pro General American Transporta-
he asperties of natural rubber", jón
of Chiengo, Corporation proved "con- said tyre tests clusively that this new type of S., for a chemical process for synthetic rubber has physical
at normal and high concern is building a plant at properties temperatures similar to those Auburn NSW to house the plat-
ing installations, of natural rubber.
London, Oct. 4, A mid-day rally failed to save dome sections of the market. and mates closed mostly lower in active trading on the London Block Erelange today,
Among the industrials, how- OVOR,
Borax deferred. Bowater and Ford Motors closed with fractional gains,
Government bonds British narrowly fluctuated. Some issues found sufficient support to show gains of 2/6 while others were unchanged.
Selling pressure centred on Unilever and Unilever N-V, both
losing around 28.
An
Royal Dutch was another tar- set skidding £1-3-0 in otherwise quies oil section.
Japanese bonds highlighted with the foreign department, some issues up as high as £1.
isaugs
showed Costa Rican
a debt 2450rength on news of
settlement offer of the country's 13501937-1933 five per cent sterling
$1.70 $38.00
120.76.
London Foreign Exchange
New York mang
bonds German liens met selling and suffered Iosios up to £1.
Gold shares waro èuster un dia- appointing earnings statements.
Unitext Press.
New York Foreign Exchange
› New York, Oct. 4.
of
of nickel plating.
this
The AustraKart
"The development synthetic rubber, which can be The process is claimed to used in high-speed truck tyres, supersede existing methods and was the goal of scientists forto permit the plating of súrtades or impossibio years. It holds groat promise hitherto dificult
rubber that to coat, including plastics. It is for the future
to natural also said to nod fő per cont les may be superior.
other systems. rubber in many ways end for nickel than
China Mall. Sposial, many uses."United Press.
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