Soviet-Swedish Trade Agreement
Moscow, Dec. 11.
A Swedish tradė dėlega- Hon has signed ment
Bay Agree.
calling for "con-
A siderable Metrase tax Soviet-Bikeđini tindo" next year, it was disclosed Lo. day.
The value of goods not disclosed.
WEH
Art official
Announcement said Sweden among
had
deliver. to other things. Industriai equipment, Alispa high trade steel and cellulose.
return the Soviets will ship to Sweden manganese, chromium anhenton United Prom.
and
cotton.
coal.
Import Cuts Speed Vehicle
Manufacturing
Sydney, Dec. 11.
THE CHINA MAIL, MONDAY, DECEMBER 12, 1955.
TRADE and COMMERCE SECTION
AMERICAN ECONOMY
No Slackening In Demand
For Goods And Services
By JÖHN
MORKA
New York, Dec. 11.
The United States was bullish, if nothing else last week.
French Metal Industry
Asks For
Talk of prosperity and of good times to come is almost Price Increase
commonplace these days as the nation's most prosperous year nears its close.
are
now
Paris, Dec. 10. Fretch metal processing Secretary of Commerce Mr Consumer expenditures which fund capital expansion plans con- and engineering industries
in thucs to give strength to the Shueinir Weeks generally eettoed play a moel important role
have asket the French The sentiment of Industrial underwriting the current boom market; dividends in particular fenders at the annual meeting of continue at high levels. In there what investors live by, and Government for - petinission they National Association of third quarter, personal consump-the prospects are good in this to reflect the recent increase
Indications 80.4 category. Manufacturers last week
that when tion outlays accounted for
in domestic steel prices in the total
1055 dividend will be predicted that 1955 would set per rent of
HTUSS records. By billion
*767 | their selling prices. November new records, that first-half 1956 national product of 392 would move to a higher plane on a seasonally adjusted annuni dividend rate increases had been
Under reported
preserit against 100 emissions
regulations, and that for the balance of next rate basis.
are pegged to the Inisiness Year
income Meanwhile personal
or decreases. Last year, 481 in their prices creases and 200 cosulties were level of February 1954, whereas moved to new highs In October.
steel prices depending on the The October rate was 308.8 recorded--United Press.
common European market are billkan, topping the September
being determined without regard rate by 1.7 billion. The October
to dexnestle ulations. These Fale was 31.2 billion above the
good
would remain
Other businessmen stresses the continued high demand for gonis, although not a fow
took note of the strong competiyearly rate in October 1934. Recent import restriction which was still preventing tions will result in ac-them from raising prices in some coleration of the already
Business Spending
the
Others were counting on High June to help meet rapid development pro- expected rise in labour costs. gramme of the Australian motor vehicle and QB- sembling industries, states the Australian Review.
Financial
With importe of fully assem- biet vehicles retired by 25 per cent, und of completely knocked down vehicles and parts by 12% per cent, motor companies Are accelerating their plans to Herenst the Australian com-
ponent content of their vehicles, At present relatively few 15 sembled
being im ported
enrs
J
bulk
1 HOW
motor vehicle registrations is suppiled wither by Australian. MAN- assembly in facturing
the Australly of imported and local components
cir
Long Term
The Review
increase
component
LU
semblers
Australia.
Referring
large
or
الله
stressed
continued
new
Threat Noted
A good part of personal spend- Ing has been on the instalment I plan and recent restrictions by de- government agencies were signed to tighten credit and in effect but dosen any runaway inflation.
he
per
Protection For Indian Industry
get exetted | foli used in tea chests,
tinue to be subject to a duly of per cent ad valorem plus five per cent of the duty.
inco hit squeeze totes in 1950 than it has been
♫
The Government is examining the Commission'a recommenda- tion that a duty should be im posed on
встар.
Lo
JAP CAMERA
SHOW
Now York, poe, 11.
More than 19,000 persons visited the camera show al the
· Japan · Trade Contis during the first week of ita two-webk: rail. It was als nounced today.
The show is sponsored by the Japaness Informa- tion and Servico Centro which Features on exhibi- tion of
khald Jagierese osmeras and optical goods and a collection of ticarly 300 prize-winning photo- graphs taken by members of camera clubs in Japan.
It wi
arinotinted
that the Company
Canon Camers of Japan will early next year open a few factory branches with showroom bfiices and ser- vics facilities at 550 Fifth Avenue In New York United Pres.
HONGKONG STOCK EXCHANGE
latter were
stepped up at the beginning of the week beenuse of the suppression of the 3.20 per cent rebate granted domestic corisuthers as a result ?l tax relict, which was con- sidered discriminatory
the kong by High Authorlly.
in values of mini-
factured goods, It was feared
A risc
Ly the French Government, would compromise the French policy
of stabilised prices which, it was claimed, had been grently responsible for the favourable development France's economy two years.
in the last
Already Approved
The
Page
LONDON STOCK MARKET
Hongkong Banks Make Up
Their Loššės
By C.T. Hallinan
New York, Dec. 11.
Stock markets were strong all the week, and completely unreal.
more
Industrial shares, already quite expen- sive, became each day slightly expensive than the day before, in complete disregard of the fact that the year 1956 is rapidly approaching when Mr Butler's taxation and monetary measures will presumably, begin to take effect; their effect should be to deflate domestic demand. There could be trouble.
But the Financial Times index on the last day of the year, of lending industriola gained 0.2la peak for 1984.
There is still time for some- points to 199, only 12 per cent below the year's peak reached | thing rather like that hap- in July at 223.
pening again.-United Presa. This
(From Our Correspondent) conviction
Stock
this
the
suggests a widespread artionz well-to-do
Business done on the Hong-people that even if Me Butier's mensures eventually check the current boom, they will operato 50 sluggishly as to give time to garner handsome tax free pró- fits in the stock market.
morning Noon
Exchange amounted to $500,000.
and quotations morning's transactions:
RHARES DUYERS BELLERS BALES
BANKS
HK Bank. 1000 1200 INSURANCES
of
Lamberd
SHIPPING
Waterboat
DOCKS, ETC.
Dock
Price Committee, uni advisory body of the Ministry of Economic Affairs, has diready approved the demand, by manu- facturers, but the Government must make the final decision. Usually well-informed quarters expect that such a decision will not be taken in the immediate future.
K. Whart
010
920
40 or 913
43
ཟླ
21
12
29.70 20:30 1500 op 3329
2000 # 30
1500 22.40
300 30 1000 * 29.09 Provident (0) 1431⁄2 14.70 1000 19% Wheelock 6.03 8.20
Strong Demande
So the week saw strong de- mands, lifting Rolls-Royce 78 dd. Consolidateds and Hudson's Bay 5 or more, Associated Electric
33 Indusities
Dd, Unilever and British American Tobacco 25.
Though
oil
shares
US Prepares For Tariff
Cutting
Washington, Dec. 11.
The United States today added 34 more important
closed items to the list being pre- for tariff cutting
the weeks below the best prices pared touched, they still showed good
guins, like Rogal Dutch, made negotiation with 25
tions a shilling better,
Foreign bonds were similarly month. mixed.
Among the Germans the Berlin B. Pet Cent sobred
na-
in Geneva nöxt
These items were valued at
LAND. ETC.
more than 28 million 10 sterling to 88 sterling and the slightly HII Hotel 17.20 17.40 500 17.20 Young Loth rose 2 sterling but dollars in United States trade
60 2005 the Potash Bonds fell another 2 jast year. (Ris) 21s 773 # 32.76
KK Land
HUBBEN
A. Rubber
yul others
ths favourable implications of a high Inte t capital Investment,
New Delhi, Dec. 10. Seratary Werits took note of which Mr Wocks said would be
The the first quarter of this threat to the economy in
aluminium Indian industry is to be protected uning i
cent his talk to the NAM when rate of 12
рет 1956 at a
sail business management has a for another three years, in above the current year.
Government agencies said that very delinite reponsibility with
for spending bunite
and accordance with the Turiff respect to the extension facturies and equipment through character of the consumer debt." Contmission's recommenda. March would--if
He said however, that the rise ❘tions. A full
Total about $31,500,-us Instalment debt from 3 ywww 000.000
Imported aluminium in crude the ex-cent of the gross national pro- compared to pected gure or $28,800,000,000 duct in 1929 7 per cent today or manufactured for, to icon
nothing to for this year and higher than the was previous spending figure of $28.- about.
J According to come observers, 30 000,000,000 reached in 1953.
Te, there were reports
pending will likely CONSUME: employment, be much less of a silmuisting continuingly
with prospects of n on steel
over the past twelve months. price rise, a pickup in auto pro- Just what effect tighter credit
Imported aluminium says that long duction along with accompany- terms will have on auto sales is
The Goverment is trying to ing fears that sales may also be still largely a matter of con- plans Ielude
find a formula to avoid In Trust dipping. On the plus side, there jecture. Some observers already
The Indian automobile spark-creases in the price of agriculTTIES the binckening In were prospects of big corporate note dividends this year and next. year-long pace of auto sales. ing plugs industry is also to be tural equipment and household Oliciais estimate that In protected for another five years, articles, Business Week Magazine,
said The
existing duties of 38 per the projected rises would mean an additional charge of 1,400 "there are small,
nation-wide suuleting' cent on British plugs for use in
trucks
francs
Household and 12 per
cent on million signs that
Indiente may
imported from market for next year," plugs
other goods. smaller The daily selling ente for the sources are to remain up to the
it end of 1940. first halations now are that it all year long it has run
noted, barely topped
Insulaters to be used in turn out a record
mahutaciuro of spotking plugs gal tons this year--is stun dealers, the Magazine added are
siderably above that figure. Many are to be exempted from duty Motor Corpora- able to keep up with demand.
49 recontended The steel scrap market is run-disappointed with reception of for one year, peller of cars in Australia, wil ning wild, with prices in some the 1956 models, although sales by the Commission.
considered good considerably Increase
areas hitting the $50 a tan mark. HOW The Australian content of its Only a
not standards, but dealers feel short while ag scrap Austin and Morris vehicles.
A few they should be better. sold for about $32, The Statidord Motor Com-
The tight supply situation weeks ago, dealer stocks of new
curs were estimated at 70 pany is continuing its two-yeat
will probably mean a boos Au- to raise the
than a year cent more Semina content. The
Ford steel prices, according to
vious. Motor Company does not intend dustry circles.
Esthrates are that 1056 will see an output of 8,000,000 cars. No Change Of Plan
Australian the 121
and cost content of the products of one of the targest English cars in
ther various that the manufacturers it vifect caf the import cuts on General
Mangolden's
will
be
Ltd
1ખ Vauxhalf ami
Bedford models, and perhaps on the length of the waiting list for
Australian Holden. The British thon, next to MH the largest
shortly
programine?
and
of mo: ket expectations stability and, according to many, its experts, a rise.
Steel Tight
Some
The boxing steel indusky- rst 20 days of Nor
116,000,000
En
ja-
lo extend or to reduce its nunge The steel boost will probably of care is a result of the im- be more widespread than here- port cuts. The Australian con- lofore, it is said. Meanwhile mill lent
13 being progressively producton is sold out for the raised.
Arst six months of 1956.
WEEKLY COTTON
MARKET REVIEW
By William T. Plunkett
New York, Dec. 11.
Cotton futures climaxed the week with
a sharp closing reaction after backing and filling over a range of 950 points a bale.
According to the Journal Commerce, the "showdown
cars; tun-
bv
per pc-
of
on
59
sterling. 1.30 2000 1.078culative chaos.
4.00
Tram 22.20 2216 800 Star Ferry.. 130 Yinati Ferry 100 102 325 101
a Japanese. Wore
A State Departiment announet- The Non- Tokyo Five Per Cents ment said the supplementary bose 2 sterling and the assented list was drawn up at the re- In a sector where quest of some private business sterling
Interests in the United States. 22.30 prices were headed downward
It also would strengthen the ranging by amounts
from United States bargaining post- C. Light 2140 21.0 900 2140 sterling to 2% sterling.
offered tion
it concessions were Chinese 600 @ 21.30
and the C. Light (N)
during the Geneva talks, Hongkong and shares of the Elecirle
Public hearings on the new Bank improved 1% Shanghai
Cicoh Bands rbst 2 Tariff Commission and the Com- will be held here by the sterling. sterling to 88 sterling, approach-mittee for Reciprocity Informa ing their peak or 81. sterling tion on January 17, a day before the 28-nation talks open in the
capital.
Telephone
INDUSTRIALS
Cement Ropo
16.20 3915 39.70 300 30.78 53215 1100 or 32
500 or 3211
33% 34%
11
Industrict quarters argue, however, that the keen com- thepetition among domestic manu- acturers and foreign producers exporting to the French market STORES, ETC.
to ກ would,
certain extent, Dairy A.20 16 500 strain
340 A rise in prices by
1000 French manufacturers-China Mall Special.
Coated abrasives are not to be subjected to protective duties, and imports of emery, synthetic grains and kraft paper for the manufacture of cooted ubrasives are to remain duty-free for the time being.
The protective duties Ori batteries for motor vehicles and steel boling hooks are to bo dis- continued China Mali Special.
the 1956 cars will come in the
Ever a 10 per cent The Bank Of England
spring."
decine in nato sales next year, the Journal of Commerce noted, would not be a serious donger to the boom."
It added further in this vein: sales pattern would not
Such
undermine consumer confidence
Statement
Latidon, Dec. 11.
New York Industrials
Higher
Industrial stocks moved higher
New York, Dec; 11.
in the past week while rails and utilities ensed,
At their highs the industrials were at their best levels
in'
The Bank of England statehistory. They finished the week nother floids, Nor would it, byent for the week ended Dec. slightly under those tops,
7. heads as follows:
itself, indice Hubstantial changes
in manufacturers', plan to spend Note in efreuiation mare for further expansion. A Public depoelt
cent i auto Pelvete deposits. drop of 10 to 15 outpri would
take Government securities
me
Ølher securities
of the heat out of the Recepta metale boom. But it would! hard- | Ruito
metals back into a ly phish
It would take
At Friday's close the list ruled 5 points
buyers that
"With
higher to 59 points lower, or up 10 cents to down more to $2.95 a bale from the preceding week.
Incomes head-
.
Watson
COTTONS
13.30 131
Textile Corp 0.30 595 Nandang
MISCELLANEOUS Yangime ***
7.80
040
wore
list
Odd Flavour But the activity of the market ef items on the new list 18.40
For one are wool, socks, molasses from. 18.40 had an odd flavour. 18.40 thing, there was little sign nt Cuba and the Dominican Re- American end-year selling. This public, and business machines is something
which the "valued
$2,250,000 market is'
attuned for many Sweden and West Germany and until last year when iti Frogs legs from Japan failed to show up and the In-Cuba also were, on the list.- dustrial index actually reached, IChiną Mall Special.
Singapore Stock Market
Singapore. Dec. 12. Brokers today quoted the following stock prices:---
Opening
Co
Batu Kintang- stubber $1.70
British Edrado Petroleum
Byndicate Consolidated Tin Betektors
Ord.......... Fraser & Nervo Ltd. Ord.. Fraser & Neave 73% Cui, Hongkong & Shanghai Bank-
ing Corporat Hongkong Tin Ltd. Kempas Ltd.
Industrials það, a wide gain on Sterling Monday, small losses on Tues-pret 1,028.300,71
1163,940 day, and Wednesday and another 318,284,889 Tise di Titsday, with the 287,914,004 average, finally broke through 20,145, this top and showed good 24.330.371
172 strungth. y. United Press.
43/00
30/
to
PENINSULAR
at
from
& ORIENTAL
STEAM NAVIGATION, COMPANY
R.M.S. "CANTON"
NOTICE TO PASSENGERS
$1.70
$0.00
*300 6/30
Luna" Bubber, kætates Ltd. $400 Aslagen. Browaries
$5,40 New Serandal Rubber
Ltd.
$2.75
$1:00
SAILS:
BAGGAGE:
Despite the dip on Friday the Pellak rin Ltd.. Industriais closed the week with Radies Hotel ... | 4 gain of a few. points at 487.64. | Blágpore Cold Storage
Rails were down less than a qty, neitikis - Inmarance
the cold The Bank Of France point and utilities down a few
Statement
"Paris, DAN: 416
rents,
Market men said the list be Havid very well in the clr... eliistimens, there were many
ing for hew war heating lip boet again, no Nearby December, held in-, acreage allotments tor, 1956, and
the economic dramic
In the changes dependently firm throughout, the possibility that the governollmate appear initiierit,” reflecting light lenders ind ment might announce the in- As the economic Indicators
the position terlin evening-up bifce
loan rate for the next continue to reflect bitdiners eon- expires. In the noon hour ca crop.
Buchte the stock market showed The Bank of France statement wild gaifiers and tow losers- Tuesday.
behind. to: Uncertainty
opus for ins' week entled Dee, United Press. "WRIN ge-vernment wifi will how the disposition to tak New crop deliveries were on
down WILL
ting
the the defensive most of the time, the huge cotton surplus was pace, thứ market; moved firmly alhough a smart, but short-another restraining factor. Fre higher, with the Dow Jones in- Total dots, hotdih ·201,201.
leed ratty was staged Thursday vously, the Agriculture Eterütdustrial average moving to an Total ether currencies indiented the gayeri histeris High of Thursday at Sight butebes· abroodi
EPU
+mtise:
resda në follows:
when the government's Decem-uny his indien und 1,000,000 487.80, record high by 0.35 per Apo to stabilien ber crop estimate showed an ment unexpettéd reduction.
bafes of short stopla. cotton cent. overnéás” at competitive, prices after the now year,
·Expected · · Increase "The Dec. 1 Indication, for 141068,000 balts come 180,000 Might Be Tight holes under the previoua obicial The next stock of 1950 cotton raport, whereas traders hid éxe held Uy the government tömälled pected an increase of upwards 3,840,000 bales, of of 300,000 bales,
As turrent rule of entries, regarded solve statisticians thought my traders
Almost 411' sectioris Joined in Total Bill Blincelá the rite, notably aircrafts: oil Bab hote in die chemicals, matóru and rails:
Favourð.
Op
October
of the
the decrons
Afterward,
plus anem glent-sized duty
gunning
the
ingred meatie opneimption betten, than Arpinor cause for Redliancy rine mullan balo kont
Brbooks as irvist view pointuie ultimately might run from Avand poveri millión Prosi blog that the and Bal
Titus ning nglires may still How Should the lodi reach six the
crop nearer to the 15,000,000 million balor, and with enden avande, bald ·mark.
why dealty to await for kiba
Cuervill accouhia and
dajibalta
Singapore Rubber
Market
Singapore, De, 11. The market," was - dull - with bag | little-frielination to trado:tion Saturday, The undertone, was good with no selllig pressure.
bd:
closed officially
UGÖTTON E
FOR RUSSIA
Futures re
No. 1 rubber per 1
straits Trading
Kiraila Bleammip United Engineers Ord. warne Brow
U.S. COTTON EXPORTS
New York, Dec. 11. cotton exports By
Ex
Friday, 16th December, at 12.00 noon for the UNITED KINGDOM VIS Straits, Colombo, Bombay, Aden Port Said.
Passengers are requested to send ALL. BAGGAGE, to the Höngkong & Kow, loom - Wharf. Co,'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE, by Noon on Thursday, 16th December.
SPECIAL NOTE: With the exception of hand packages cätried by passengers themselves, ALL BAGGAGE, must pass, through the Wharf Co,ʻa Godown for. loadingg on board by ship's slings only. Passengers should embark between 0.30 and 11:00 a.mh, on Fridly, 16th December 1955,
destination as feported in balts EMBARKATION: by the, New York Cotton charge for the 1955-56 stason to Dec, 6- Were, as, follows::
·Britain'
Continent .Orient
Total for Satria pertol
-170,017
283.817
MESSAGERIES MARITIMES
United Prese,
nge Rates
#GAM
PONBURY
FAST
"vote bezt, week,DİY