TRADE
THE CHINA MAIL, THURSDAY, FEBRUARY 16, 1956,
and
COMMERCE
Nigeria Offers Big Chances
BUT BRITAIN FACES
MANY PROBLEMS
Lagos, Feb. 14.
While the Royal visit sets off the cheering in Nigeria, problems loom up for British traders there.
It was in Nigeria that the Federation of British Industries foolishly advised industry to "go slow."
Colonies
More
Buy From Japan
London, Feb. 15. The colonies are im- porting more from Japan than ever before. This is revented today in the Intest Digest of Colonial Statistics.
Up to July That year, these nearly Imports averaged £7,800,000 a month, compared
of with a monthly £5,000,000 for the whole of 1004.
The colonies were thus buy- Japan at en annusi ing from rate of £93,500,000 in the first months of last
year, compared with an actual tothi
soy en
of £67,200,000 in 1955,
One of Greatest
One of the greatest single by increases was recorded Nigerin, which bought £11,130,000 of Japanese goods in the first nine months of 1935, against £9,350,000 in the whole of 1954,
Exports from the colonies in Japan also increased last year, but less sharply than imports,
They averaged £3,000,000 in the first seven months of 1955, compared
wilb (71 average monthly rate of £2,000,000 in 1854. The colonies' trading de- felt with Japan was therefore running at an annual rate of
£40,000,000.
-(London Express Service).
But it was British iraders who built up this fast-growing corner of the Commonwealth as a market for UK goods.
Four hundred. years ago Britain was trading with the Africans who lived along the const.
of
Japan Sends More
And It Is British goods
The
Nigerians of tony are most anxious to buy. The United Kingdom still sells them half all they buy abroad, although foreign competitions is becoming Hercer.
Japan, especially, in
sending inany cargoes of textiles there. Soics last year were more than double those of 1954.
Now
man-on-the-spot Gardner - Stanbridge, Walter trade spotlights Britain's failings.
In the Board of Trade Journal, he writes of the com- plaints made ogainst British
goods.
ก
commissioner ut Lagos,
Regular Visits
It is a familiar tale.
Late de-
UK Industrial
Index Low
London, Feb. 15,
The industrial average. closed at 174.3, breaking through last year's low of 175.7
Index
of government securities foll nearly point to 85.03. lowest since the index was launched in
1026 United Press.
European Textile Trade Uneasy
for
UK Trade Relations
With Russia
London, Feb. 15.
So Mr Khrushchev is again talking about being friends with the West. What are Britain's trade. relations with Russia like?
Last year Britain sent to Iron Curtain countries more goods than in any year since the
war.
WORLD
COTTON
MARKETS
actions.
New York, Feb. 15. Paris, Feb. 15,
Cotton traders today The
Organisation
crowded most of the Co-market European Economic
action into the operation today forecast opening and closing trans textile trade, principally uneasiness in the European
In between due to uncertainty about
time, trading the United States raw cot- dragged along as dealers moved ton policy
In-und-out awaiting new incen- and growing uves. competition from Asia.
Nearby March again showed
while relative frnness erop deliveries opened
Jower and retained at a discount
rough most of the session. At the close the Ust ruled up points. The market 5 to off 25
New Orleans closed up 10 to
713 points. off
March sold up to 35.80 cents
pound, ឌ new high, covering before Arst
York
The Textiles Committee of the 17 member-body reported:
"A elear declaration by the the Jurg-'erm policy that it re-establish
livery, poor packing, jack of American government stating
new
They took £23 million worth in exchange, That was £13 million up on 1954, and £20 million more than In the previous year.
But it does not seem so much when you remember that Britain sent Russla and her friends £17,500,000 worth of stuff in 1938 at prewar values.
་
Second Best
And it looks even less when
you learn that the UK bought £03 million
worth of goods from them last year,
This makes Britain the best
Soviet Union's scrond customer, after Finland.
But in trade with Russia the customer is not always right. The amount of business to be done, depends on the political climate.
Last summer the Geneva spirit "unfroze the cold war.
spare parts, and indifference 10 tends to foliow is essential to opened up 17 to off 4 polnis/Sp there wits a record year.
local needs.
Τα
confidence
1
and And he urges regular visits to Nigeria by salesmen seeking improve the present condition
In the affected Industries." develop markets there. Nigeria's spending on imports Competition of Asiatic textiles, has risen three-fold £132 which has caused big cuts in day- Feb. 23.
to million in the last seven years. European textile exports, par-
New
Cotton London Express Service,
Heularly of coltong, was be Exchange Service Bureau ginning
be to
felt the estimated domestic consumption internal markets of member of raw cotton In January at Countries.
705,000 bales compared with 716,000 bales last year.
WORLD RUBBER MARKETS
Crucial Level
On
The committee said that the level of imports from Asia was erucial and member governments should give earnest attention to
the situation. Singapore. Feb. 15. The rubber market was wenk because of poor averseas advices and there was some liquidation in the morning.
SECTION
Page
CZECH SUGAR New York Market FACTORY Has Best Session
Since Autumn
FOR INDIA
In
and
New Delhi, Feb. 18. A Czechoslovakia dustrial corporation the Indian firm of· Wal- chand Hirachand today signed an agreement for the construction of a sugar factory in India,
The agreement is subject to approval by the Indian government,
It was also
announced
that Czechoslovakia would supply the equipment
for
a co-operative sugar mill the Punjab-United
in
Press.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
New York, Feb. 15.
Wall Street, newly confident that President Eisenhower will run for re- election, boosted stock values nearly 2 billion today in the first 3,000,000-share session since last autumn.
Yesterday's report by the President's physicians that he should be able to live an active public life for another five to ten years spurred stock market confidence.
Industria? shares ran up a Consonwealth Elec, point to more than 0 points in Consolidated Edison
Continental Oll of De). their gains since last Nov. 14, in Crane Co the early trading. The soaring Crown Zellerbach of prices by later profil-taking: Cuban Amer. Sugar
Diamond Alkali made the overall rise for the Dow Chemicals..... day the second best since that Dupont de Nemours date. All major groups joined Eartman Kodak
Erie Railroad
in.
First Hour Rush
Turnover swelled to 3,000,000 Business done on the Hong-shares, most since last, Oct. 11, kong Stock Exchange this compared with 1,590,000 shares morning amounted to $1,700,- yesterday. 000. Noon quotations and the morning's transactions:
IK Bank...
A heavy first hour of 1,110,000. shares most since May 15,
Family Finance Corp. General Electric Genemi Foods
General Motor
Gen. Pub. Uill. Glidden Co.
Goodrich B. F.) Cu. Heyden Chemical Hanstake Mining Co? Ingersoll-Ranul
Ininnd Steel Co. Interchemical Corp.
Jet nisiness Machines Ingi Harvester
International Nickel
In Tel & Te
SHARES DUYENS KELLERS SALES 1948 accounted for much of
the increase. BANKS
The first hour rush was in International Paper fine with expectations, mirroring initial response to the news on West Coast markets after the New York close yesterday when
INSURANCES
Unloa
*** 10:03 Lombard ... 30s Underwriters 0.10 SHIPPING
Asia Nav
Waterbout
DOCKS, ETC.
... 25.14 1.07
1410
TO Gr 1300 1000 123 or 1000
1700
3000 1.10
K. Whart 7136 Dock
33 334 Provideni (0) 151 15.60 4500 or 151
500 1501 8.95 B00 200 68.90
Wheelock
The chlef Items the Russians send are timber, grain, canned LAND, ETC. salmon and furs.
In fact, the first of an order for 20 trawlers has just sailed for the USSR.
John Manville Co.
Kansas C. Power & Light Kenneguti Copper Liggett Meyers Tob, Co
prices jumped $1 to 4 on active Lockheed Aircraft
Low Incora. trading. Dollar stocks rose, Lone Star Cement Co. sharply a generally lower Louisville & Nashville R.
Lowenstein Gone. London market.
Industrial shares today were Munesota Mini
Merab! Tron Corp.
up 4.92 pcils on average, rails Miafon Development 1.77, tilltlas 0.12. Of a total Monsanto Chemien Car
1,178 issues traded, 836 were
higher only 169 lower. 1000 1,83
TOGU .00
Steels Up
Jones
Bethlehem Steel, US Steel, Republic,
and Laughlin, 8011 Youngstown Sheet and Tube,
on nolice
From the UK they buy cat- ton, wool, rubber and all kinds of engineering products, fram tractors to trawlers,
K totel...
HK Land (0) 63
(N) 61%
10 18.10, 500 18.10 3000 g 10.10 04 27 635
Humphreys
(0) 7Tumphreys
(Ni Realty
X. ALL
(Rts) RUBBER
10 20
18.00 19.30
1.021 2000
1.00o
5000 # 1.823
034, 0000
000.
.1.671⁄2 1.40
2.37
21%
23.40 2315 3300
23.40
1000
25
143
100
144
107
100 GOO
108
21 100 u 23
100 6. 23
Tho certificated stock hold unchanged nt 14,420 bales. Open contracts in March at the start of trading today totulled
181.000 bales.
Volume and wore: Month Mar. May
Many members might and July themselves
to consider Del. forced
Dec. emergency steps to avold this
Mar. At lower level there was tradedanger by reducing liberalisation Max support and fair enquiry in the textile imports, thus making July the creation of a European marTotal ket increasingly difficult.
No. 3
No. 4 Spot rubber unhaled
open
Interest
Volume 20.200
Open interest
181200
27,000
437,800
20,400
200,700
24,700
244,000
19,600
232.000
*4,300
B0,000
6,200
$7,200
15,300
120,100 1,529,000 bales NEW YORK
Prices of futures closed today
Creation of such a market as follows:
Spot would in the opinion drowever
Silver Price Boosted Again
New York, Feb. 15.
Handy and Harman, bullion
Future closings were:
No. 1 rubber ner lb. Alar. 2013-10475
Apr. 101-11 May unquoted
Ne. 2 rubber ner b. Mar. 1024-103
H
Blanket crepe ..... No. 1 pate crepe
The market was steady with NEW YORK METAL as follows: dealers today raised the price of spot marked up 1⁄4th of a penny!
ató 31% pence per lb. Prices
3144-33
nine ounce, the highest price in No. 1 Ras spot. ...............................
2 months.
This is the sixth price boost since the start of the month and brings the price the highest since it reached 81% cents on Feb. Nov. 27, 1055.
Mar.
30,20
35,74
33.10
23.02
Kept Busy
And whatever the prospects for new orders In 1956, British factories wil be kept busy de- livering goods under last year's contracts.
Some firms, in fact, orders outstanding from 1054.
London Express Service,
A. Rubber Trust UTILITIES
Tram
Star Ferry
Y'mati Ferry
Want (0) 22.80
have
C. Light (N) 18.80
Eletric
43!
Rubber Production, Consumption
afternoon, and soon covered some losses.
prices re- carlier of the
102-102:5 100-101 10514-10531 93-93 117-110
of most delegates, be one of the essential steps to RESUre a
for {uture satisfactory European textile Reuter
Mor.
May
July
the
Oct.
31.07
industry. --
Dec.
31.70
Mar,
31.48
May
July
31.13-15 30,00
LONDON
NEW ORLEANS Prices of futures closed today
Spot
Mar.
34.70
FUTURES
May
33.07
July
33.84
Oct.
32.03
Settlement house term:
Dec
31.03
both
Mar.
Apr. Apr/June July/Sept. Oc/Dec
31-3141
2311-2012 2012
New York, Feb. 15. Prices of metal futures closed -200 today in cents per ib. as fcllows:
Mar.
31.49
MAY
31.17
July
30,73
General markets, cif basis, ports:
Apr.
The recent price Increases, Estate crepe thin Mar according 10 Handy und
thick Feb
Lead 302-31 301-391% 303-305
3224
Feb.
16.20b
Mnr.
15.23b
Tin
Feb.
07.50b
Mar.
Zinc
Feb.
The New York and Amsterdam
Mari
#uver 3-cont to 01% cents
97.50b
12.271
11.270
Mar.
41.251 44.101
United Press.
Hannan, have reflected an in-rubber prices were unavailable. Copper Fel sufficient supply of the white United Press..
melal to salisty
fil
demand.--United Press.
normal
New York Foreign British Stocks Fall
Exchange
New York, Feb. 15.
England official .........
+1
Australia
30-day DO-day
New Zealand'
South
Bemium
Other Press
Africa
were
200-7/11
future! 2.1H future 2.70
2.2497
4.7044 2.00-13/10
1200 unchanged, United
London Foreign
Exchange
Back In
24.10
Washington, Feb. 15, The Commerce Department reported tonight that world puction and consumption of natura and synthetic rubber in 1955 set new records. Citing estimates of the Inter- national Rubber Study Group, the department sald world pro- duction of natural rubber was estimated at
at 1,805,000 long tons in 1955, compared with 1,802,- 500 in 1954 and the previous high of 1,085,000 in 1951
LIVERPOOL Future closings, in pence per Ib. were as follows:
014 contract Mar/Apr.
May/June 25.10 July/Aug. 24.10 21.73 New contract May/June
21.48 July/Aug.
Oct/Nov.. 20.80 Consumption of natural rub- Dec/Jan. 28.10 ber in 1955 reached new high
40.30 Egyptian Karnak Mar/Apr.
of 1,830,000 tons in 1855, which SAO PAULO
was für above the provious high Futures unavullable-hollday, of 1,750,000 ect in 1854. In the US the average price of 15/16 middling cotton at 14 of
Maeno Elec.
(01.. Масло лес.
(N)
Telephone
INDUSTRIALS.. Cement ......
530 22.00
3500 22.00
10 1000 10
Crucible,
ran
קט
Montgomery Ward
Motorola "A"
Nutional Cash Her. National Dairy Prod. National Lead National Steel Com. New York Central Olin Matheson Olis Elevatore Owen-Illinois Glass
Paelic Gas & Elec. Pactile Western Ol a point to more than 3 points, with the Paramount Pictures
Pan American Airways
Increased Parke Davis Co. Penny J. C. Co. Penn, Sall co Phillip Morris
Inst reflecting, an dividend and proposed common stock offering to shareholders.
General Motors and Chrysler hod gains of around a point.
In oik, Richfield. Shell, Jersey Standard, Texas Co. rose a point
2 points.
to
cine, & Gamble, Co. Akhurah Pinte GlasA Publieker Industries
Du Pont climbed nearly 3 in
chemicals.
Metals were strong.
Aircraft gains ranged to near
ly 2 points in United Aircraft.
New York Stock Exchange
Pure O
Radio Corporation Repubile Steel itaymoide Melal
steel Dit co...... Saint Reg. Paper Sinir Ö
Socony Vacusin
South Porto Rico Sugar Southern National Gas Southern Railway (Coin. Standard Urands Standard Oll at Cal
7300 7 18.99 bond volume was $4,780,000,
300
American Stock Exchange Standard Oll of inst
45.25
.2900 45.25volume was 790,000 shares,
000 of 45.50
Standard Oil of
Dow Jones closing averages Sterling Drug Co.
1400 43.23
22504 45
were:
500 45 25 30 Industrials
500 - 45.50 20 rail
500 / 45.50
Stokely-Van Camp.
470.64 Studebaker-Packard Corp.
15420 Swift & Co.
64,50
107.28
200 43.23 13 uulities
165 stock.
500 4.75 40 bonds
0% 0.00 900 @ 9,60
0.20
Comm. future price index Comm. spot price index
153.30
100.39
225 @ 8.40
343%
500 30.75 Allied Chemients 1500 39.50 Allied Mills. Inc.
Closing Prices
39% 30% 0003054kden ing. Acy.
Hope STOKES, ETC.
Dairy
15.10
Allis Chalmers
American Airline
10.10 (0.30 500 & 10.30 | American Cyanamide Co.
1000 18.40 Am. Mach. & F dry.
Watson
...... 12!
COTTONS
7.75
Toxillo CoTD Nanyang MISCELLANEOUS Allied.... II.K. & FE
Invest, .... £1.40
800
10.30 | American' Motal,
1000 ne 18.20 American Smelting
200 or 12.00 | Am. Sugar Net.
100 & 32.00 | American Tel
300
12.00 | American Tob.
0.00 1000 315
15.50
New York Sugar
Market
New York, Feb. 15.
Anaconda Conner
Armeo Steel
Armou?
Baldwin-La-Hamm
Ballinore & Ohio Bendix Aviation Corp. Benguet Cone.
Bathleliem Steel
Boeing Airplane Borden The Co Burroughs Add Machine, Canadian Pacife R Case (J. T. Co
C. I. T. Financial Corp. Cat. Tractor Celanere Corp.
Chase Manhat, Bank Chrysler Motors Colgate-Palmolive Co
and consumption No. 4 world sugar future Commercial Credit
per in non-closed today 1 to 2 points higher.
Il rubber
designated spot markets WAS Communist countries during
bales.
KARACHI
TRW
35.30 cents, Sales totalled 41,672 1955 passed the milloin-mark No. sugar futures, domestic, for the first time. Production closed 1 point higher with sales was 1,085,000 tons and con- of 373 contracts. The market was higher today sumption 1,009,000. United
the tight statistical. | Press. owing to position and higher up-country advices, There was a rumour around that the Indian is going to issue foonces for 50,000 balts
London
London, Feb. 15.
import
Dollar stocks and certain American favourites
managed gains, but most sections fell back sharply for Pakistan cotton under the in active trading on the London Exchange today.
Street. British
stock"
recent trade pact entered into by India and Pakistan. Pricts closed today in rupees per maund as follows:
་
02/14
0770.
Singapore
Stock Market
Singapore, Feb. 10.
World futures firmed with unb domestic market, while contracts also reflected improved refner interest in raws at rising prices,
Japanese
Dealors estimated purchases of world raws in the past few days in the neighbour- hood of 80,000 tons. Fuíures:
Contract No. 4, (world)
March
MAY
July
October
Brokera today, quoted the September following stock prices.
Fears of further goverment session, although some taues anil-inflation noves more than failed to hold at their highs. offset favourablo news from Wall American Ford found support 48 Punjab roller gin
DO/O government and gained £4 for a five-share 200FNT Sind roller gin
Baw gin acd industrials loak block.
pd/s Golds opened Arm, then zegFNT Punjab roller din ..........
Opening Spot (conte per lb. feb Cuba)
Contract No, 6. particular punishment as softened and closed with minor
Batu Lintang. Co. Etdig... 1180ed naw Kho
· 102/0
British -United Press.
Borneo Petroleum nervous zeling mounted during gains, the closing hours of the session,
Tho. Exchange closed techni- 250-5/18 War Loan fell sharply to un all-cally at 12.45 p.m.
because of the tow. Liquidation is the a problem in printing the day's "gills" was widespread.
ist of prices. Omcial closing
New York
London, Feb.
Montreal Amsterdam Frankfurt
Lisbon
2,001-2,80-2016
-10.01%
1750-1282 Mitan
12211-12,223 Zurich
Others were unetanged-United Preska
Zurich, Feb. 16. The present. Swiss 20-fmne cates are to be replaced in the near future," the Bwiss National Bank announced.
A number of false 20-trene notes were discovered in circula- tion in 1956--United Press.
Dollar Group
租
time is 3.30. However, exchango
mid they would an "emergency
by
1
Byndlonte Consolidated Tin
Oyil.
LONDON METAL PRICES
Smeltere Fraser & Neave. Lig Ord
44/~
30/
Marchi May July
September
November
Penser & Kosys Tis eum,
preť
Spot teenis
ox-duty)
Hongkong & Shanghai
“Fanling. Corp.
Hongkong, TN Lada Kompend
7/34
Rubber
$3.50
$1.7
hollerb
Pauling Tin Li Talimotoka Chop Baites itotal
-monuit
Lingapore Cold "RIOTAKU. Copper spor POS0049055 | South Kirkus Samuraice Caj 1-month
Aho
BMX 300%*), 1nlled in Tenes ord. “United "Prébe,
London, Feb. 15.- Botax and Bowater managed
The tip market, conunued to hold firm and post small tonight, to insure having such stoly Pricas closed today in gains, but industrials generally a
Teachy
tomorrow sterling per long ton as follows: closed with lowes ranging from morning
aixpence to two fins to all The action come when the shares, with Royal Dutch spurt printers aid they could not tog moro them£1. Other | Promise dilllvery of the regular leaders gained two or three fat on time tomorrow. A total shillinge.
of 7,207 bargains had been recorded up to the "Lcclinical" closing time,United Pros,
In the dollar group, strength |was apparent through the entire
(tärme Rubber Pointes LED,
rekeyan Breweries Berandah
pet u off NY
Exchange Rates
Issadeveen : krng done in the decal amofficial, profsange market. This 204|| morning,ek, the following rules
Indone
load (per 100),
DAY 1001
Texas Co.
Tido Water Ass. Oil
Twenty Century Fox Film
Union Carbide : .............
Unior Poelie Hallway
United Aircraft
U.S. Gypsum
US. Line Co.
US. Rubber..
U.S. Smelting
Warner Bros.
Westinghouse Electric
West Ya Pulp & Paper Woolworth
#22
1001
19. Steel.
35
FBAL
23
#
2433
404
A
IT'S
56
FOR VALUE
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