THE CHINA MAIL, THURSDAY, DECEMBER 8, 1955.
TRADE and
COMMERCE
SECTION
Japanese Steel, Cotton Industries Rubber Trading
WORLD Plan New Cartels
RUBBER
MARKETS
New York, Der. 7.
Hubber futures closed today
20 points Tower to 85 pointa higher with sales of 341 con- Track.
de
Communis fon
24
sh houst buying orderý h ed the macket at the close
After lower rinrt. Part of the trade hclude dealer exchanges Sept -May contrae a 01 203
included
Februny
pal
EXT 201
con January
ond
GOVERNMENT APPROVAL OF INDUSTRIALISTS' ACTION
Tokyo, Dec. 7.
Japan's steel and cotton industrialists are making plans to push out small operators, reduce competition, and set up new cartel systems in an effort to solve their supply and marketing problems.
In the cotton industry, the big approval, are offering smaller mills sheets production or close down.
40 cents; Deet mber
nt 431
four
is a 40 cen a ani Drema- ber three ambers 1 32 cent. Spot No. 1 Has were quote at
Futures were
[16 Mir
MY
July West
Dec
LONDON
Both eriton spinners an-1
inanufacturers have been tricting urodvellon for some for #ferent reasons. The
fenr tha: Ins
they not enough markete
main chance of full 4) The
planes obtain Aufficient raw
51 52
1749-15
4300
320
3125
3010
tooth fo
3:04
The market wan stendy after There with spot quoted at 37-13/16 pence per l'
No 1
Beteneat house term
Jan
Feh
Mar
Jan Mor
Antune
July/Sept
Dea
to
mu erials in state of increasing
The cotton textile
Por
37*-
34-3416
27-17 30-30 Erite Pepe thick and thun alt unquoted
General markets ett basta ports
London Stock Market
London, Dec. 7.
Most sections held firm in quite trading on the Log-
were
sing pans to
as O teras" 13
industry
"freze, "re-tun- of their ades, Stet mille, on the contrary. should further and be facilities if con- Man vormi, according to the Wuntry of Trade.
Most To Blame
Smaller
firms, with government incentives to cut their
of
have shipbuilders culton mills
have also been been vigorously opposing re-enjoying an unprecedented ex- #triction of produc ion ex-port boom, porta, which, they assert, Are Japanese steel milis thus
to boost do arranged as to benefit
the tried
production urdinary rolled steel to Big Ten alone.
spinners annual rate of 6,800,000 tons in
leading the last quarter of 1953.
Some s
17
suple Abra are alleging that the cotton Till ore trying force obsolete spindles upon #uple thre spinning industry, whlie freezing better ones 13 Lescaves for future expansion of the culton mills.
Steel Industry
The Japanese steel industry, which was heavily protected by and the Japanese Government
te Navy before World War II, was dispersed and placed on
As
aver
of
an
WORLD
COTTON
MARKETS
New York, Dec. 7. Strength in new crop de- liveries featured an other- wise slow trade in cotton futures today.
13
of
News that the administration
considering the ken restoring 10 per cent price sup- ports next year on "top quailty products" brought an opening splurge of buying in the Decem-
ber months.
the
the
While the announcement said plan is betog considered, especially on next year's wheat crop, traders assumed the plan might also apply to cotton.
Interes in nearby deliveries lagged. Smell-scale evening-up developed
spot menth following the Issunner notices for 200 bales.
Leading demand spot firma suplied from other trade accounts.
The cercated stock more than 2,000 bater overnight to 12,452 bulan. manufac-
The recent steady increns in the stock aug-
com-
of
10
pared with Beluni 5.600,000 tons in 1954, but im- ports of raw materials Just did not keep with the plan.
pace
steel The lending turers decided temporarily
their Bilspend
'es ed scrap purchase price agreement, aid domestic prices for special grade Berhp iron rose from about 18,000 yen (bout £10) six months vlously, 10 25,000 yen (£28) per ton.
pre-
Ease Supply Situation
fare
additional
21
of
tenders be-
the delivery expires Dee. 18. Open contracts in the spot manth at the start of trad- ng today totalled 142 700 bales. Approach of the usual year- nd hollday quietness, จม disposition to await tomorrow's governmicul crop report, curbed overall market activity after The opening.
'NEW YORK Now York rotlon 10sed as follows:
The Ministry of Trade stepped in in October" and suspended ex- purls of certain types of iron and steel products and ordered steel mills to curtail production spos to ease the raw material supply situation.
competitive, commercial basis Landing cotton epinning and during the occupation.
mat for urers are agrted.
of the a rosult
losa of hnxertr
that excessive com-control
Chian and Mon- peliuen created
the churia. among
the industry has been af such forced to depend largely Japanese as a result
VOOR reforms carried out under the North America and Southeast Occupation as economic decon-
for raw materials such as entration and the Anti-Trust iron ore, coking coal, and scrup and Fan Trade Law, are most iron. Expansion of exports has tex blame for the
endeavouring present become imperative In order
earn the foreign exchange
Dec.
Mar
Dec. Mar. May
The steal milis are how July
d revive and Oct. expand their cartel to all phases of the industry, including im- purts of scrap Iron. They are also planning to secure or in- crease umporis of lien ere from the all practicable sources, near and totalled distant, including Southcast
to
saluation.
for quired They have been asking full authority
res or materials. To
Export contracts for tren and along Die lines
first half Zaibatsustel made in the prewar
(April to September) ot should current financial year
to pay
for
the
raw
or
don Stock Exchange today.artelsation"
Blue chips moved in a narrow range, and lonavs of a few peace In the majority. Rolls- Royce stood up with a gain of
shilling. more than
Unilever. Courtauld, and Imperial Chemi- cels showed weakness throughout the session.
Oils were marked down all day. Gold shares and dollar
stocks were easier.
British Government stocks were Arm in quiet deutings
Foreign bonds were generally quiet. Greek lens moved ahead early in the day, and the Cer- man and Japanese sections also showed a few gains. Tokyo five per cents non-asserted were in demand, gaining ubout United Press.
New
World
21.-
York Sugar Market
New York, Dec. 7. No, suger futures closed today unchanged to i point higher contracts,
with sales of 30
Domestic No. 6 sugar future closed today unchanged to 1 higher with sales of 20
contracts.
futures steadied with World roports that some Cuban sellers were showing more resistance of any
mark-down further prices.
In
In Domestic raws, dealers thought cane refiners still had o fair amount of buying to do in order to cover January needs.
Fulures
Contract No. 4 (worki)
March May July September
3.14
1
the (monopoles).
Industries, they say, be re-ci pred and the smaller 1.305 500 tons, compared with Asia, South and Central America,
enterprises, 757,000 tons in the correspond- and and less which sprang
the im- ing period of 1954. up in mediate postwar period, pushed
cfcient
ot of business.
The Javanese ration ning Industry lind 12.000.000
survived
spindles
spin-
about
before
World War 11. but only the so-called
Ten" milla *** the ravages of war. with approximately
2,000,000 spindles. The Industry was first permitted 10 expand up to 4,000,000 spindles, and about 20 new mills were added In the course of the process.
The "Korean boom" which the followed the removal of
capacity
mit for production
caused about 90 smaller spin- ners to enter the industry "like
bamboo sprouts after a spring
rain."
Present Capacity
Communist China-China Japanese Mall Special.
SPECIALTY ISSUES
FEATURE
N.Y. MARKET
New York, Dec. 7.
Specialty issues highlighted a narrow moving stock market early today in moderately active dealings.
NEW ORLEANS
futures
33 DU 3440 33.48-40
31.17
20.04
29 30
29.47
29.30t
Prices of futures closed today
as follows:
Spot
Dec.
Mor.
May
July
Oct.
Dec.
MAT
May
LIVERPOOL
34.80
34.44
IWEK
32.88
31.70
20.03
20 04-05
20.48
29.38
Future closlugs, In pence per
1b, were as follows:
Old contract
Dec./Jan.
Mar/Apr.
May/Jhine
July/Aug.
New centM:C
May/June
July/Aug
Oct/Nov
Paynten Karnok
Balance
One Up On Nearly Upset
Mussolini
Rome, Dec. 7.
ITALY'S Democratie sov
ment hus achieved something which dictator Benito Mussolint dream-
bd of but never Bat- beeded with roaking the country self-sufficient for its brend.
An all-time record harvest
of more than 9,000,000 tons of wheat this year
WIA
expected to cover domestle bread-making needs fully for the first Uime since the Caesare, relying on the crops of the overseas provinces of the Roma Empire, ent down grain production in Italy. Agriculture Ministry offi- ciali Bald ooly the amount of wheat neces- Barty for spaghetti- making
will still have to
Imported bt
Rexi year.
Tho officials paid govern-
34.5;
ment
measure for the BETI-
mechankation culture were chictly responsible for the his- torts
feat. They ad- mitted
that the year's weather had been ex- fa voutable coptionally and could not be expect- ed to inst, but said they hoped production in the next few years will fall only
slightly below the 1955 peak. Officials
sabi this year's crop was expected to he definitely higher than the previous all-time record of 9.051,700 metric tons in 1053.- United Press,
}
London, Dec. 7. The Financial Times said yesterday that the balance between supply and demand in world rubber trading came near to being upset this year largely because of increased demands by Russin and America.
released
The newspaper, quoting figures buying on the market is the by the Internacional posalbility that it might absorb Rubber Study Group, said: "A any slack left when American signincant aspect of the sharp synthetic output is expanded," rise in work! consumption of the Financial Times concluded. natural rubber in October com- |-China Mail Special. pared with the previous month
the heavy offlake by Soy.ol Russia.
"Indeed, Nussia's additionni 7,000 tons in October accounted for About
the balf Increase."
Absorb More
total
CHICAGO GRAIN MARKET
Chiengo, Dec. 7. Secretary of Agriculture Ezra *T. Benson's latement gave
futures strong boost to wierat on the Board of Trade today,
a
The action brought buying in rye, but other grains faded frac- tionally.
The Financial Times added That America continued to ubsorb more natural rubber den. pite a further rise in synthetic production in the United States, when brought this year's total to 082,500 tons so far
tolni with ronymered
Traders said 540 500 10 In the same peri. 3 lag in soybenna (of 1954. In October, there was On increase of 1,000 tons in the already large US Sgure.
Bure
"While
world
of
consumption
reasons for the Wete proit- taking and selling inflitenced by lower meal prices.
Export included
business today
also The sale ot two- million bushels of barley te
Wheat closed up 2 to 3 cents; soybeans (new)
changed to up 3 cents.
had risen, moreover, production | Japan
was unaltered und in October the future for this year as whole is for a bare balance be tween supply and demand," the newspaper sald
**in Americo, the synthetle rubber factories are already pro- Cuca more than their rated capacity and it seems unlikely that substantially more synthetic rubber will be evable un De next few months.
110-
CLOSING PRICES
Prices per bushel in Wheat No. 2, red Sput
cents:
Dec. 203 diri' 207})^{
2001-
Mar.
20015
May
20435-
July
1931-200
Sept
1001
"At the
same time the US tyre Industry anticipates that de- mand for rubber in the first quarter of 1936 will be higher than in
Curn, No. 2. Fellow Spat Dre
130
12024
Mar.
130
May
13814-4
any previous three-
July
Sept.
1344
month period,
Bye
"In these circumstances it ap- peara inevitable
Dec.
11015-2
that, despite
Mar.
11052
which demand has natural rubber, will remain
the present high price level to
Osta
Dec.
6316-34
pushed
Mor.
05-4
US industry
Soybeans, No. 2, yellow
heavy purchasers
Bpot
of 1."
Jan.
(From Our Correspondent) appeared certain that if Ruzala
The Financial Times sald #
Mar.
Mny
July
"remains a purchaser on the
Etpt.
Barter.
Apot
New York flour
200 pack
HONGKONG STOCK EXCHANGE
Business done on the Hong-scale of the last few months a konk Stock
this light situation could develop,
Worth Recalling
130-14in
$13.00m
WINNIPEG PRICES
SHARES BUYERS SELLERS SALES market now is hinged primarily Prices of grain Futures cløsod
Exchange
24.00
21.05
morning amounted to $330,000.
23.10
22.31
Noun quotations mud the inorn- Ing's transactions;
23.04-00
24.50
23.00
BANKS
on
TIK Blank
INSULLANCES
Union
1670
DIO 920
M
Jan./Feb.web. 30.k
KARACHI
Lombard
The raw cotton market was casler today and declined speculators selling on expecta- tjons
bearish of
American poCKS, ETC. Barcau report and fears of prices cut in selling policy of American cotton, During the foreign coun-
71
The strength of the rubber
on American imports and on today Russian purchases which, follows: # 1650 small in the context of free
3540
K. Whart Duck
23 DO
Provident (0) 141⁄21⁄2 14,60
Whrelock
4.15 20 40UN ... 11.16
world production, con be
crucial market стиския
200 nominal figure of 420 tons, in 20.50, 1952 and 1953 respectively she took 123,000 tons and 41,800
in Canadian
centa AS
Onta
Dee.
factor in the
7526
May
*$2
absorption of marginal supplies,
"It is worth
recalling that, Rve against this year's purchase so tar of 10,425 tons and last year's
July
€314
Dec.
10034
Any
1042-
July
104
Barley
Dre.
100%
Miny
037%
tons.
July
Do
Flaxseed
HK Hotel HK Land
00
4. Punjab 10ller gin
75 200-FNT" Sind roller giri 86/2
209-FNT Punjab roller gin .. 50/2 13/2 -United Pres.
B1/10
Realty
RUBBER
A. Rubber UTILITIES
..17.20 17.40 300 17.30
18591 (RN) 33
1.00 1000 1,8735
"Of course there are no pre- rent reasons to suppose that tho USSR will return to anything ilke her
scale of former purchasing,
Dec.
May
July
325
Wheat No. 3, northern, 103
1.03
Tram
49
Yaumatt Ferry
wis registered 37,000 balcz, out
which 10,000 bales were sold LAND, ETC. to Jipán x 7,700 bales 10 Hongkong.
Prices closed in rupees per
Gains in the specialties ranged to around a point. In the main list, however, prices moved within a narrow range with a number of issues holding at their previous maund as follows:
The Japane90 Government's policy of allocating raw cotton according to spindles also en- couraged the tendency.
The
present capacity is estimated at
about 8,000,000 close.
Market rewa 1200re now described as superduous
the Japan quiet by
However, Cotton Spinners' Association. quarters sald the market is Since May 1955, the cotton making a good showing despite spinning mills have been cur- talling opern lot, first by
of which abou
was generally Cuban Amer, Sugar
Crue Wright Wall Street
two adverse news developments 12-failure of Santa Fe director
per cent and later by 10 por to split the stock in time with
because cent,
the domestic expectations, and the fraure of
11 Japanese market has become the list to register new highs 3.10 stagnant under the deflationary yesterday. 3.10 policies of the Japanese Gov
Bpot Leonti per 10. feb Cuba) 343 crnment while exports have
Open Interest: 1,020 contracts.
Contract No. 6
March
MAY
King
September
Spt teenis per ib. cif NY
ex-duty)
UPLA
interest:
United Proxi,
5538
been
The market opered irregular meeting! with growing
ly higher, but ran into some mild dmculties such ag discrimina presare thorty after the open tory tariffs Or charges ofing belt, dumping.
On the favourble news side A total of 14 countries have of the picture, Chance Vought 5.30 declined to accord Japah full
met considerable demand contracts benefits
under the General
news that it has received a $100 Agreement on Tariffs und Trade, mainly because of their million defence order. The stock Other fears of possible unfair trade pursed 3 points to $39.
Aircraft manufacturing Insubs In Japaneso practices
did ifttia exports.
LONDON METAL
PRICES
texilic
Diamond Alkall
Dupont de Nemours
Eastman Kodak
General Electric
General Foods
General Motora
Gillette Safety Razor Glidden Co...
Goodyear Tyro
Heyner Chemical Ingersoll-Rand
Int' Buainavo Machines
International Nickel
Int'l Harvester
international Paper
in Tel & Tel
John-Manville Co Kansas C. Power & Light Kennecott Copper Lockheed Aircraft
Loows Incorp...
on Lone Star Cement Co. Kinnesota Mining Misión Development Montgomery Ward National Cash Reg. "A" National Dutillers National Lead New York Centrul Oun Mathiesona Otis Elevators Pacino Car & sc, Pacifle Wettern Gil
London, Dec. 7.
A campaign has been started Elsewhere, steel shares his The tin market was firm by American texille business gains ranged to a point Rail today. Lead was idle white men calling for application of rods were mostly lower that. copper and zine were steady. quota system to imports into to a loss of more than 2 points
cotton goods, which have been caster. Ufillos did little, the United States of Japanese in Santa Fe, Moors sollers Increasing rapidly latter part of 1954.
Prices closed today in sterling per long ton as follows:
Tin apot
3-month
Copper root
buyers
33
3-month
Lind
halt
Doc, ili 11314
Land
Mat. 110%
804
302
11031
Zine
int half
int
Vanilkited: Prost
since
the
Restriction Opposed
NEW YORK METAL other textile exporte: to
FUTURES
New York; DWONL Prices of metal nitures closed foday in conte per ib. ne fellow
Load, December
náby
Closing Prices
Alden Ino. Ami, Aflied Chemička Allis Chimers
Andriesn
The Japalice Government American Afribe and truainosamen are discuss American ing measures to control allpe Amenok
henta
of cotton and ..... scene American Fab.s
Anseende: the Artnoo: teet North American, and Buropean Armour markets: at agreed i
Shipments to the United States may be controlíc
Pplying-ezy
porcent
Baldwin- Baltimore
Fan American Airways....
Paramount Pictures
Parke DAVIN CO.
weru Penn. Bat Co.
Philipa. Patroleumn Pittsburgh. Piste Glas
Radio Corporation
tepublic Steel Roncada. Metal
2314 | SHEU (Dil_Do. 113Sinclair. Oil
Foceny Vacuum
Boukhara Raliway" (Cón) ; *by Standard Branen
Standard Of Of Cal. standard"Dij. DE 100. Standard Oi/OF_N.J Sterling Drug Co. Stokoly-V_Carno,
Awift &
Union; Psql:
West Germany Building New Fleet
Hamburg, Dec. 7. 'Germany's high sen flect has Increased to more than three million tone and almost reached 75 per cent of its prewar size, the West German Ministry of Transport reported on Tuesday. Starting from almost zero in
this 58% 1945,
under itauntry has now 3,482 ships of altogether 3,022,848 tons, at the 177 end of last year, the German 20% high on fleet counted 3,328
ships of 2,560,262 tons,
50
40
45% The Ministry records showed 4oday 2,052 freighters total-
11
that
102 103
21.00 100 e 21.80
500 + 3019
C. Light (0)
XD
G. Light (N) 15.90 1020
Fleetrte
... 397 39
1% 32**
Telephone
INDUSTRIALS
Coin.nt
STONES, WTC.
Dairy
Walaz
COTTONS
241304
1714 יין 003
34 342
200
1000
...10.20
13.30 1936.
8.10
Textile Corp. 605 6.05 Nanyang MISCELLANEOUS
Allied XD
6.40
Singapore
Stock Market
ניי
Broker
Singapore, Dec. 8. today quoted the 40% ling 2,440,320 tons, 62 tankers of following stock prices: 4536 323,929 Locha, 80 emali passenger
41% ships and high sog forrige of Batu Lintang: Rubber 537 000 tons, 30 high sea barges of
Ord:
Opening
$1.70.
Co. Lt British Borneo Petroleum 11,593 4ons, 005 amking vessels of
Havillonte 108,820 tonu,, jad 320 other high Conesiated Tin Smeitene 11016 schaaft of 42,574 tons make up and weave Ltd. Ord. 11.11
the rest of the German high sen Fiber Neaves: 734 noot,moder
cuum pret In 1939, Gectany owned 4,3 Hongkong Talion tons of high sea shipping How TU, LAG,
tlled Press.
Rates
40,00
bat oven outside cents; No. 5, 120 cents.-United
any short term effect of Russian Press.
Xmas Cards
OF
HONG KONG SCENERY
SOUTH CHINA MORNING,