TRADE
THE CHINA MAIL, WEDNESDAY, NOVEMBER 1955,
and
SECTION
Page
Holland's shipyards crammed American Anglo-Egyptian Trade
with orders
BUT DUTCH OWNERS
ARE WORRIED
Rotterdam, Nov. 8.
Holland's shipyards are crammed with more orders than ever before-and Dutch shipowners
worried by the building boom.
are
Dutch yards, long famous for their efficient production methods, are almost all fully booked with orders for the next four to five years. But Dutch shipping companies, faced with the urgent task of renewing their own fleets, complain that too many of the ships being built in Holland are for foreign countries.
Holland has now risen to the up to now, largely because world's
ingrat ship-building Holland's other major problem euntry, after Britain and West | the housing shortage. Germany Some 135 deean-going
vespels, 546 000
toin ling
A20
than more
under cou→ this yards
s'ruction In Dutch
year.
But nearly otic quarter these ships is for foreign comi- panies, and the competition they will later offer to Dutch lines, as well as the space they occupy In yards here, is causing grave concern to domestic shipowners.
18 Countries
No Houses
of
workmen
Lancashire Plea For Lower Employment American Down 29,000
In Year
London, Nov. 8. Mr Harold Wilson (Socialist) asked the Minis- ter of Labour in the House of Commons last week the
not number by which em- ployment in the cotton in
fallen over the dustry has lost year and Inst four years, taking The latest month for which figures are
avafluble.
Mr Herold Watkinson (Pur- Hamentary
lo the Secretary
Ministry of Labour). In the 12
months to the end of Septem- ber. 1955, there 20,000 and in the four years to the same date a fall of 60,000,
alarming figures, has the hon.
Mr Wilson: In view of these
Gentleman
made any calculo- tion as to how many more
Tariff
TRADE EXPERT
The
GIVES VIEWS
By John Morka
New York, Nov. 8.
United States can help free countries resist Communist aggression by abandoning its “Janus-faced attitude" and by adopting a programme of tariff reduc- tion coupled with aid to industries hurt by increased imports, a newly published study of US economic policy suggests.
was
Markets Closed
New York, Nov. 9.
Ebellen Day, yesterday, WEL abstrýed as a, holiday by a ružjoë segment of the financial community al- though rothe commodity and
indreta operated as tuiBEI,
The Now York and American stock excksuses, the Boston, Detroit, Philadelphia, Baltimore and Fllabarch
mhdwest stock exchange in Chicago and the markets In a lake Olly, Lon Angeles and San Franciaco operaten.
The Chicago Bound of Trade and other grain markets were opened; the NEW YA* and New Or- 16.m cetton exchanges ppersted and there Was frailing in the New York wird market and New York produce exchange.
there
Bänka wen closed, and iberefore, 100 foreign exchange. Coffee and sugar exchanges and exchange COLOR
Canadian
were
and European markets operated as usual. -United From.
The plea for lower tariffs was among the highlights of a study and polley
closed. was a fall of report entitled "American Imports" issued today by the Twentieth Century Fund and the National Planning Association. The study
written by Don D. Humphrey, Professor of Economics at Duke University and international trade expert. The Twentieth Century Fund is an endowed foundation for scientific so, that is the kind of supple- research and public education on economic and social problems.
travel long years of this Government w
dustry to die it altogether in
be needed for the colton In-
every
this country?
Mr Walkinwu: If I may gay
mentary question which
does
not help anybody, much less
Many sicilled I already hove to
distances lo of
work
they because no houses com be found for them near the yards. New recruits to the Industry can only diifculty be found with great because of this problem.
Widle the shipping companies fear that they may not be able To carry out their long overdue the cotton industry. I am try Dr Humphrey emphasised; worsteds, leather goods, floor e-equipment plans, the ship-ing to give the facts, I agree that while the United States has coverings, lace, certain segment building Industry is plagued by with the right hon. Gentleman a programme of reducing tariffs, of cotton texilles, hats, cutlery, the shortage of labour which
that it is right that the Ja- prevents it from expanding
that the gains from trade out and more than a sexes of into dustry and the country should three the principle Jewellery medical instruments the new demand-China ineel
but another fact, weigh the damage to its own producks, know them. Mail Special.
which is at least of some con- solation, is that
my Ministry Industries has found a job in some other every nian and woman who has been Usplaced
the cotton Industry.
Eighteen different routtrica, ranging from Russia to Pers£2+ have ordered chips from Dutch yards, making Holland the th largest ship-exporting nation in the world. Some of these vessels are being built with help from Holland's Reconstruction Bunk set up after World War II to help the country to gri heck on its feel
A recent order for 22 ships placed with Dutch
yarth
of
by n dreek owner living la bon- don has intensified the worry Dutch owners. Like many others built in yards here, these ships ure to sail under manian flag.
the Pan-
Chicago Grain Market
Lo
Chicago, Nov. 8. Selling met only limited Spokesmen of Dutely shipping! companies claim that owners of demand and put most grain these new vessels sailing under futures coniracle a cent foreign Bags will bened from easier tax and working condi- more a bushel lower on the
tions than their own ships.
This harm
nows
or
Board of Trade today.
Favourable weather and trop would inflict "serious
and expectations of in- to Dutch lines In the creased renespite of grain at ter- future, one spokesman said. Heminal markets Ward factors described the volicy of helping behind the decline, dealers said. yards build foreign ships
There also was evening up of "incomprehensible" when
many commitments prior to publication
crop_report due after the close Un Thursday.
ها
new Dutch vervels wil shortly jus the government's general
huve
be bulli.
Netherlands
Exporters sold 652,750 bushels of US red wheat to Yugoslavia
Industry for practically
Mr Gerald
Nabarro [Con- servativo); la it not a fact that any fall in employment in the colton industry has been inote in- than counterbalanced by crossed employment in those industries
Hon. Mebate: No.
*
Mr Watkinson; Thu fact with which I am concerned be employment position. As I have said. we are very glad, and I
am sure the right hon. Gentleman is, that so far every
In
In
the
WORLD COTTON MARKETS
New York, Nov. 8. Cotton fulurés today face of another big increase start rally in staged a
in the government crop es- Limple.
After an opening bog-down of $1.00 a bale, the market see. sawed nervously, then spurted around $2.50 a bale from the lows when the government re-
dealings.
"No one proposed to establints "This Jonus-faced altitude," tree trade uddenly, Dr Hwa- he said, "has compromised our phrey Polats out, “aizd it foreign trude agrements from the begly competition were the only adr ning. On one side, It seeks to justment, the problem of gets expand mizually beneficial out of these industries trade, on the other, it profilios | should not prove too dincliE” that no branch of home indus-
small, will
auto's try, however
opinor, port was issued in mid-morning be veriously damaged as a rotull.” | American law, prouting goe
manelib ageficiés to buy New crop deliveries gave up "American - mode goods" are part of the gain at the close contrary the natiorkij interest
unde, réalising and hedging, but and should be repeated Means the list still close het 5 to 32 white, he added, the degree of
higher. The points discrimination can be reducdppened off 21 to up 2 points. by executive order.
New Orleans closed up 4 points to 27 polble.
soine 1c
he
this even
the NPA sold,
frec com-
market
Prospects Improve
Cairo, Nov. 8. Prospects of better trade relations between Britain and Egypt brightened last week after several months of near stagnation.
British firms stated--and diplomats agreed— that they noticed the Egyptian authorities were tending to relax the ban on non-essential imports from abroad, and particularly from Britain,
HONGKONG STOCK
EXCHANGE
لله
The authorities arc now
to willing
honour
old licences auspended for SOTTUN time-issued for British goods, provided importers prove that the ordered goods were already being manufactured or shipped
the ban was imposed. when
sign Another
of improved
relations is the recent Egyptian agreement with Britain's Sir Alexander Gribbe and Company, who wil
as consulting engineers for the new Nile Dam
FINANCIAL NEED
Business done on the Hop-south of Aswan. kung Stock Exchange this morning amounted to $470,000. Noon quotations and the morn- ing's transactions:
the
SHADES BUYERS SELLERS BALES BANKS
good-no
Egypt's reluctance to Licence
of import
less-enscotin
what matter
the
Hit Bursk
100% 1070
1685
1070
of 1 to
country
origin stemmed
INSURANCES!
Unloa
10
Lombard
80
DOCKS. ETC.
K. Whert.. Dock
CG
28.00
Provident (0) 14.00
Wheelock
300
LAND, ETC
Hifi Hotel
HK Land
Ser
9.10 4000ņ
from Anancial need. Her trade
fast deficit during the
eight months of 1955 was £23,000,000. Part of this drop in foreign exchange income was caused by the departure of British troops 14.00 From the Canal Zone, and the | consequent logs of an "invisible"
17.40 2500 m 17.30 export-London Express
1000 17.20 vice.
WORLD RUBBER PRICES
Singapore, Nov. B The rubber market cased on disappointing overseas adviem and steadied towards the close
on short-covering. Futures; No. 1 rubber per lb.
113-1191
( Light (0) 21 30 21.GU
C. Light (N) Electric
00 00
100 00
INI
13
00
33.20
50
33
Humphreys
20:30
RUBB
A. Rubber
1.82
Trust
2,40
Train
23.70
Y'mati Perry 101 104
100 @ 104
50 103
50 100
13
19 3015
100 or 21.50 1000 ₫ 21.50 00021.40
500 4
321% 321%
500 2255
300 ₫ 3215
Nov.
INDUSTRIALS
Cement
Dee.
11136-11171
34% 30% 3100, de 3415.
Jan.
ungisted
No.
5415
Rope STORES, ETC.
Dairy
"Nov.
A rubber per lb.
128-11315
No.
9 rubber per lb.
111-112
No. 4
100-107
113-11534 94-36 129\2-122%
Telephone
1730
18.30 18,90 50 19
rubber per lb. 132 10.50 300 + 10.10) spot rubber unbaled 1000 18.00 Blanket crepe ...
Watson
14.30
COTTONS
Textile Corp Kunyans
3.70 11.30
J
casa
with
100 18.10 No. 1 palé po
BOO 4 18.80
Singapore
Stock Market
Singapore, Nov. 9. Brokers today quoted the fol-
Opening
Must Suffer makina man-made He emphasized further that abres? in addition, is it not SOSTIC industries
must neces- fact any unemployment in thesarily muller from imports and cotton industry has been im that it was important for mediately absorbed in other in- Americans to accept dustries in Lancashire?
tuality.
In its policy statement, the National Planning Comittee The indicated Nurember Dr Humphrey points out that said the UB shout reduce its figure came nooner the high end the question of whether imports tariffe substantially enough to of the private pre-bureau ceti-
Imports, yet In any given field will injure (inneas
To su motes. But the market action, American Industry depends on drastically as to create polities traders saki, suggested the by how rapidly the market will obstacles,
failed to Ineresno hed expend.
Any industry of community on the crop repout, a short cover-
ing movement sot in, ołody "For those dynainte Indus- should be assisted by help from
demand from commissdom man stud woman displaced.tries which enjoy growing city, state and federal agencies, houses, Liverpool brokers were from the cotton Industry who market,"
"imports saich,
nocredited buyers of the nearby wants another job we have may Increase relative to domes.
months. Techedclans said the lowing stock prices; been able to place
US Has Reasons production witheart
market had a sold-out appoor- | natu. Lintang Rubber CO. other industry In Lancashire, ing serious problems.
But in
Lid.
$1.50 ance in the mid-morning rally, As Industries,
the lender of the the more stagnant
Borneo British
Petroleum overnight and expect that coun- Mr J. T. Price (Socialist): where
Byndicate
43/8d the
other world's struggle against
Another sharp decrease in the Can the Parliamentary Secret Inclastle, the increase
Consolidated munism, the United States has certificated stock spurred cover-
TIM Bmelters of impoliteal and psychological fea-ing in try to continue purchases daily
Ord.
20/- against a recent allocation OE over 500 tons, has risen to just 11-million
Rive
of Any iden
ports may damage tione in-
the nearby months, Fraser & teave Ltd. Ort. 01.09 bushels
Denmark ay
number of nauve over 18 yours, ladicati
Lancashire dustry and require the shift of son
lowering its trade cotton available for contract Freser & Neave V cum. offerings on 050,000 workers who have been forced resources, vessels still in service | bushels of US soybeans, and to emigrate to other Industries in location of industry and migra- the conventional economic ones,"
prof
$5,00 the re barriers fully as important as delivery declined to 6,874 bales, Hongkong & Shanghai Bank- many
including
a new low for the year.
ing Corp.
$700 buy the Midlands and other parts tion of workers,"
the NPA added.
Hongkong Tin Lad, of the country? Is he aware
The current спор estimate Kempak Ltd. **The that in such migration,
abiitty of hairy free indicated an increase of almost countries to resist Communist 3,000,000 balca to the cotton position of middle-aged, people
Aftles and in their
sixties,
Ito. Dr Humphrey criticised vari-gression or internal subvers surplus this renado, plus exports, sion depends in part upon in would total around 12,000,000 whose lives have been invested pus
their in
trade the native industry
crensing of and ambiguous customs America,
with bates. The
Last UNITYUVER Lancashire, is not an easy one lations, which he said, hamper- { /*
and recent
shifts August 1 was 10,000,000 bales, Soviet tactics make i dealt ed imports by costly delaya and especially urgent for the United to solve and cannal bo
Trading volume and open with purely as a malter of needless EXPENSES.
States to demonstrate the falsity interest in the Exchange today "Whatever teriffs may be km-
at Soviet propagands which were: posed, nothing
that the Commihist can be sald in insists favour of restrictions that countries are prespectively bet-Month create uncertainty and burden ter trading partners for the tree
than fordign trade with unnecessary nations
the Astierican to expense," Dr Humphrey said.
ecoțiośny."
Renewal of the merchant fleet is the most press- Ing problem facing Dutch ship ping companies at present. average age of the feet for ships
were built before the war.
Average Age
The figure for the
The
that ked
passenger
SV
fleet, which shows the average age of Dutch Hners
more than 17 years, is even more dicative of the need to begin large scale re-equipment.
The Netherlands flect, which totalled just over 1,500 ships t
schouted Spain
tax 1,200,000 bushels of US cura dos
morrow.
Peru has indicated she will buy 3,750 tons of US cottonseed oil or soybeans old today.
Wheat cloud off 1% to 2% cents; soybeans old of $4 to 3 coats; soybeans new off 3% to 4 cents.
CHICAGO PRICES Prices per bushel in cents;
the beginning of 1985, is alreads Wheat No. 2, red in large part "antiquated" by Spol
with those of such comparison
Dec, 20536 (11) 20314 (1) competitors as Germany, Sweden Mer and Japan, secording to the May Royal Netherlands Shipowners Sept.
Fuly Association.
statistics?
the
the
Mr Walkins: I quite agree,
100
Closing pricer
I cannot answer that question unquoted without notice, however, and
20314-9
if the tion. Member puts 20424-35
down I will do my best answer it.
I
1931
Corn, No. 2, yellow Spot
1273 18236-31 13511- 13722
110%
Large scale replacement of pid pec. ships is expected in begin in the | Mar. neki two to three years,
But May July
shipping companies me alrently Sept. wondering whether they will nye
find Dutch yards able to thelt orders if the building boom | Mar. continues.
tako brc.
Data
Dec.
At present, there is no sign | Mar,
of the boom slowing down, Soybeans, No. 2, yellow
especially after a large number ov Spot of orders for new túnkers, many | Jan.
of which will only to delivered | Mar. In 1940.
300 Yards
Dutch yarde tirt alteady working at full copoelty, arid
crying out for moto skilled
May July Barter,
market Ip
Antiquated
"antiquated,
cumbersome
"European producers
for
DT Humphrey took are with arguments advanced Mr Wilson:
Do the Parliaopalled at the risk and expense many in cheap foreign labour. 122-13mentary Secretory's two sup-of expanding their Américan
Phawers and
ONDON
The market was easy with spot quoted at 32% pence per Ib. Prices:
No, po.... 3234-3396 Settlement house Derin
Dec.
Jan/Mar.
Apr /wie
July/Sept.
General markets, cif basta, Estate crepe thick Nov,
Dec.
Not
Jan.
AMSTERDAM
porta:
Kinquoted
The rubber market was easy. Prices closed today in guildera per kilogram, elf November as
followe
No. 1 rubber No. 2 rubber No. 3 rubber
No. 1 arope
1.08 nom.
306 поль
3.40 0. 340 MOTEL
United Prons.
London Foreign
Exchange
Montreal
Amsterdam Frankfurt Muan
London, Nov, A.
28014-280-5/18 2.79-15/10-2.30 10.011-10.8315 1/1.73) 31,73 17.551-1758
41.53
Lunas Rubber Estairs Ltd.
$4.00
Malayan Breweries
$3.40
New Berandah
Rubber
$1.50
Petaling Tin Ltd.
$4,500
New York
Raffles Hotel Singapore Cold Storage
$2.49
$1.70
Bolk Bestisi inmirance Co.
$20.00
Straits Trading
$33.20
Orlo
Birálta Steárnsalp
Parts
United Engineers Ord.
$10.10
Zürich
Wearne Bros.
Others
Wero
unchanged-United
Votre Open interest
xd.--Chind Mail Special,
Dat.
25.000 09.100
400,000
30.00
qve e
580,000
21,000
9,200
101000
Dec.
1,200
£3,400
3,600
20,600
by Total
1.23.200
1,000,100 beles
NEW YORK
Prices of futures cloned today
Spot
Des.
34.85 $3,01-03
Mar
MAY
July
De
that Industries do in foreign markets, as follows: and very successfully too."
plementary
the market. They are apprehensive This is disproved, in part, he question by the hon. Member that if alacio market were said, "by the plain fact
our high-wage for Kidderminster (Mr Nabarro) (developed, American producers mean that the only polley that with greater resources would compete the Government now have for recover it with mass production 11-11, the cotton industry is to stand methods. These problems are aside and see it decline so long sometimes cadigorated in the as they can find work for the minds of European exporters. displaced workers in other They are deterred froin floding "In addition, dorniceijo produc- Induaisies?
ourt if they can ocempate by the too has displaced imports in risk that American tariffs will the home market in the face of be raised if they are succosaful." | lower, tariffs,
0441
38
unquoted
2391
100-140 New York Boar
200 36., sbekk
* $18.00 WINNIPEG FUTURES
labour, which they badly head closed today as follows to doki with existing orders. Date bie.
Was Possible
28.03
Mr Wachtnison; The question of policy for the colon
Ho sild proponents of tree "This was possible becaum Of |
KEW ORIKANS dustry is not for the but for trado "go too far" in implying high productivity, which means
right hon. Friend my
the that all branches of American High wages and low file conta"
Prices of fitures closed today President of the Board of Induster can become
as follows: strong Talk. 1. have given the In- anough 10 withstand fored The author concluded that or formation, anded for by the competition. It is impossible to
the „greatmacher group fight hon. Member as to the
who proaction industries in, the US no longer nerd protection: In- would, suitor, ho
ho atided, decd,
they would profit under free trade-suniiki From
predjet with certainty Canadian,
Prices of grain futures in present unemployment position, would be injured, but it is cere
per bulliolelakidoni. Dupresa Bervice.
Lain some added.
Vulnerable' Industries Ingoria of sugar, hindblowa
knight' dibblažu ka thướch na 10] wt US production, Padditionally
The 200 serils opératiig khi the May country, of which 1) Billa | NY coffri-going veisola, poliËMED that they could vifipídy. Up to My 18,000 killed workers History Fitz than the premont muito lk 50,000.
કચ્છનાં બે lling on the s
„abour shorter
labose to the locating" névm nos kwepa kinakach will grøkt success [250% #2
LONDON SILVER
PRICES
Conduit Movi 1. ickley, Ki Talan sanas, père fou glauw for spot, andKT) Bursa (for
ho..
crops fald Dat would be stanfally", amaelad, frnd juli Tablo, montfacturing." And "United | appear, according to Dr Hum
phrey, to includo", woollense nonch
Exchange Rates
Bpot
July
Dec.
LIVERPOOL
Athbricat
„öf 18/10" inch, pênes were as follows!
rlaw cóntract
Tavollan Karriak Ján, Feb,
Paulo postori - prices zaiavailable,meliništa. PINES
Let US handle
20.004-20,00
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