THE CHINA MAIL,
MONDAY, JULY 2, 1956.
US
TRADE
and
BUSINESSMEN
CHEERFUL
Jitters Have All
Recession
But Subsided
By John Morka
New York, Juły 1.
The US business mood at mid-year was cautiously cheerful.
Recession jitters have all but subsided. There is strong confidence about a good fourth quarter. Many expect some easing in the third quarter.
But all in all,
CAUSE some of the and plutted their bullish fervour evident last win the remainder of the year
to have withsaded. Årnports. ter uppesies. although many experts still feel 1956 might well rank with the best in US history.
f. │
||
only 171 agricultural
สน shows,
118 equipment, and sine appliances will fourth quarter sales
moderately
below those of a year ago 31 also notes that signs of strengib i me becoming more evident ingly eyeitcal
There now any emphasis
The Suff venemy, mitally
OPTI
honing, agrteviltar) and phunce
12
12
auto ituit. incchiaerY miasta res, The auto plump, the threat
2345
12 "
L
210 like
แห equipment
Mexico To
Plant Rubber
Mexico, July 1.
Agriculture Secretary Gilberto Flores said today the Gioverament Ja plan- ning to plant 80,000 Beres of rubber plante
Southern Mexico by 1958. He hoped Mexico eventual- ly could cilminate importa of rubber.
Mexico wheat production this year will reach an all- time record laure of
1,200,000 Lumex,
Buld
This would be 30 per cent said
above last yrar.
this year's collon crop will be about the same as inst year's although
360,000 1e*s детта were planted to cotton this year. --Inked Pres.
CANADIAN
GRAIN EXPORTS
Canada
farm machinery- which are apt | million to do much beller s 1957 than n 1930. 1 books for a produe. tion rise of 17 per cent in 1058 ekeine attl
Over
1955 ini
steel strike and spiraling pees. The tightness of money. con- chenbar of inflation-deflata 11, auf Prusadera Eisenhower's electric equipment; of 16 JAN cent in bilamizious eal; of 15 to 20 per cent in beef and pork. For 3 0 4 percent in dairy pre
ducts; and of 14 p09 Pat polural gas,
the
<ht
High Hopes
that for the moment at least. light as the sieel adpe 1543,000 Where SODIC
threaten 10 Ju Make ungt Saturday an
R“r.】རྩྭ 8
k. AL EXTW
banred
three days
wage
piet
સ IN 1
Barber last week hopes were publ settle- Jhi;}{ Èyu t + ment Steel prices on the stock
The Commer
minimises the rba
ut
Department manufast- turers mocks which has worried
some oOSEF VETS,
Fluctuations
These glocka, I noted. "Van- not tre considered troublesome
atatos. with the exception
have expertencent Item In most groups
jest But
acresses to both inventories negotia-
marked the end o dul expectations.
Hung tut stat al mud-week ut labot autistry turned down ench other's proposals
untled orders over the past 12
i said inventorra ose months about 4.7 billion between April 1955 and April 1956 It attri As a what will happen the buted the inventory accumula- cids are rusis than 30-50 argely to expanded activity there won't be a shake
and the rine in uiled unders.
At mid-wear.
sa strike,
In expectations
banking their TUTINKT
stert mill have already started much
This erratic
speculation? behaviour
<
about the slok
usually takes about three days market prices as perhaps about in US bancial It no strike takes pince, it will anything take an her two days be
Ang
19.
tamuter. いしい 1,000,000 steal fons af steel pro- duction will have been lost even if a strike is avondent.
celes
יאן 1h
have bee
However, sme wide tuctuations.
A Journal of Connerre con- W 10 inlaten noted advances for cent or more charitag
hal! 1956 by 13 per cent of the various industry entegents and declines of thal extent by per cent.
Splurge
[3
|
COMMERCE
CAUTIOUSLY
Economic Progress
In Second
Half Of 1956
By C. T. Hallinan
London, July 1.
Western Europe looks forward to second half 1956 with hopes of continuing its economic progress in the face of mounting difficulties.
While me countries are en-ly by 1985. The study comes of fying relative prosperity many time of confusion when goven- host men authorities or threatening nte tall grappling with a
ranging problems,
from to put controls on the prices of items in order to dollar certain food retorni n W
nsiderations of hold
of
y
and spiralling prices.
furl
Ivi
example,
down the cost of living The Paris Bureau notes further.
This cronomic rpor! Lakes IRAS es the target year and 169235 analyses what the present trends by that year. they will mean will mean, according to the ex- perts. an ern of stability.
Cadena Anggers Bat Betali the next six months with some
The Dest
big problem is whether the nalice can step up its exports to the United State and Canada to wipe out in pert or in whole the 1956 fall-ension, a point of which all
area dollar re-phases,
42 test
Volume Rising
production.
ret
industry.
wil be co-urfinated on a high
ÚS
SECTION
DIVIDEND
RECORD
New York, July 1. Dividend payments set a new all-time record high In the Newt half of 1956, Wall Stroes experta estimated today.
their
They projected figures and predicted fall year would show grin of nearly 10 per cent
over
the $11,200,000,000 reported for 1955, the pre- vious record higð.
First half dividends amounted to $4,000,000,000,
A riso 12 per cent over
of 12 the corresponding period of last year. la all of 1825 the dividends paid · Ameri- can stockholders amounted
to
Press.
$5,823,000,000.—United
Sharp Decline In Use
Of Copra
Rome, July 1.
decline in copra and co-
SAAR DEAL A VICTORY
FOR FRANCE
Paris, July 1.
The Saar, 800 square miles of rich coal and steel producing territory on France's north-eastern border, will become German again on January 1, 1957.
But for three years after, this now pro-German state of nearly one million people, will continuo to be economically linked with France.
Thi Was
basis Lho
of an agreement un the future of the Saarland—for its size, one of the world's richest territories in, cool and
steel-reached in netstrai after Luxembourg this month Afteen hours of negotiations between Konrad Adenauer, West
and German Chancellor, Mollet France.
There was haggling over the They rich Wand roal veins. He under the Saar, but they are mined mainly from French territory.
The French scored that point, too. Two-thirds of these veins will continue to be mined from
France. Coal extracted by 考える be sold Praner at "favourable prices,“
German Gifts
Gennan plts will
Quy Prino Minister of
There was even e German | gift. France wants to shorten the The Saar, formerly part
of Prussia and Bavaria, was made trofect of the river Moselle from the Rhine at Coblenz to Metz in territory trustee
of the
France. Objeet: to compensate Nations for fifteen League of
France for The loss of the Saar years by the Treaty of Verby facilitating the transport and
n
Bullies,
Autonomous
The sharp antt administration the use of
Then, in 1933 the Saurinnders plebiscite to re- conut oil in soap produc. deckart in a
Join the Germany of Hitter.
In 1947, the Saar's elected, tion is one feature of post-
Assembly parliamem of war trading stressed in a
voted their 66-page report on the colly miembers
Constitution and becam situation compiled"
autonomia IS Democratic by the Food and Agricul and Soen country economically
linked with France."
Tevel
full by
543
It s drwn only one con- dilan, namely that no warr Lo occurs uttar upheaval
chaos.
tes
Ottawa, July 1.
exported 54.5
These resTIVUN bushels of
oats, million of May 1956, Bruin hud
everything Into barley, rye and flaxaced store vnly some 48 per centraling that, then it seeks
The key question, rensinstrate that on the pr the first three that loss. during
theredze, in the minds of many 1955-56 RIGH of the quarters
DOLCEVETS,
whether of Britain the Bureau crop year, Statistics said today.
Tin ledal compared with 785 (million Bushels 423 The femoustang pered fast crop year,
11
1950-54 inte molath 14 milion bushvenan Cument mop year exports of ut Har gong to the earl April were outs 25 milhot (171 ruddizm for the same period unt year, and 344 millon for
August-April
accomplish 105
tel WCEZ IKOW nie miracle and December and wipe out thi volume of that "defell"
+
the
A
11
is
cut
France has
made Bress which sire the end of World War 11.
hoading un
un vra of prosperity and stability.
Taking the French volume of prsduction in 1954 as an index. Britain's volume of exports is equal to 100 they forecast that rising and is distinctly higher
1905 It wil by
be somewhere than before, and many enn see
tuleren 147 and 181. the But progreza.
Bureau notes that SINT
The Bonn becoming the Government has just presen- eesome outlook is
te many who
ted a somewhat watered down think the next few months may version of an anti-inflation pro-
Britain inapeaing austerity
in order to solve grame designed to keep the upon herself i
business boom from getting out ul hand. triumph.ally
The programme calls On the problem of inflation.
for a
duties of in import gra), barley, 38.2 (539, 43.4).
polni tve 41 63 1, 6.81, 804 flaxseed ; the encouraging
the 28.7 per cent on industrial goods 9.7 (44. 0.15
sharp fall hi the sale of house-ond 9.5 per cent on agricultural En the
hold furniture perd.
consumer goods, broadly, the ends, an average production of capital goods is per cent. still rising slowly and the pro- duction of consumers' goods 15 failing slowly. Output of plants Dist Lene! machinery fra the quarter of the year was estimate at 84 per cent higher than it Barley Exports
The output of motor cars, durable consumer Exports of barley went 10 10
and cotton textiles different countries, with shy-goods down the to 19 multion 175 ments
But t. United States, 106 million United Kingdom. 66. million 1 Japan and 17 million to Germany areantung for most of
-tron
experts of Codian oots went
different enuntries to might
WE' the Prepat janters US and Belgium, thest countries adong shipments which totalled Jathl and 723,000 922,400 bushels respectively.
the total
was a year ago.
and of metal
19
Britain is not alone in faring the aftermath of the boom West of #054-55. Other European j
countries, as Untled Press inre imports, are facing it too.
Era Of Stability
cut of 11.5
Most Interesting Exports felt that this is the maximum reduction the Bunde- But some ex- stag will accept. perts insist is far from being to put visible pressure hugh on prices, especially on the still- Opposition rising ferm prices. from both industry and farmers increasing in this re-election
year.
Most Interesting development is West Germany's strong appeal international monetary reconsider the rates
for an conference private
]]
to exchange the currencies,
at
the Deutschmurk
Rye exports were distributed anent eight countries, with the largest stupments of 1.6 millon the United States. bushels
France, on the other hand is $700,000 to West Germany and
the
moment enjoying-for anu.900 to Belgium.
of optimisan Of the 1#
which trustwave countries
report imported Canadian flaxseed, the apive by a government
on the outinsk for the country's United Kingdom was the lead-
market. Preying
The
Gvernment report tshels Other
by the Ministry of Simi
very Economics - forecasts a strong and prosperous France 1the not 100 distant future, name-
A strike of coupe could play nation's the Will economy, if prolonged. A ever
would week strike
zen tenisky opratuna af oil and hamper gas industries, the construction railroad Industry, okers
and expumpment. "These
when tradition says the market three million
has principal markets In should have a rally. July segments are believed to br
Indus- Netherlands the
steel been a month of vise. worst
pestison
און
0171
Only
two
POTEŠIOTIS
g
sume
1)**
were with 2.2 million.
stocks. Some experts note that tripls and all issues have gone Belgium 12 million and Japan a steel strike could sutten prices up in the ratio of two to une to 12 million
for various commo:litico-zinc. | declves in that month. August is tin, scrap, rubber. Steel mills, even better. Thus Wall Streeters
_tve according to
Wall Street feel that a rully can come even
Journal, use nearly all the sleetit industry dyes ing a bit
kerap. over half the lin about 40 per cent of
an abri 25 per cent coal production.
and the third quarter, as many ex-
the zane of soft in the 1053 steel strike zine, scrap and rub- ber prices eased although remained fairly statele.
• peet.
Many look for sune amma- Uve statement by President regarding his po-
Eisenhower
1
litical Intentions to set off a flow
f die Investment funds which have been on the sidelines
for
rc-
This coterie thinks the election of Mr Ekenhower wil}
tin
What happenia
1.50 settlement other considerations
the 111 important
stcel
some weeks.
for
115
ww.
Steel
pacts wage affect labour wettignants other industries. In the
In the tre Taks
rubber aluminium indu_trics and ronds.
Invariably again
cffing und
it-
Bet off a psychologica) splurge of bullish enthusiasın. The Atch survey, for example, thinks that under these circum- stances, it is possible that
Welcome News
Dow-Joncs Industrial average
now Bround 402-might
to
ת
erommy.
Japanese-American Textile Problem
senators
Experts privately admit
that
is over-ripe
conut
on
ture Organisation for this week's meeting of its Com- Commodity mittee Problems.
General market prospects for oil both
copra and uneerlain,
Survey WeTC
We' with
other
fals
The said.
close
nuniyor
poconul the
new
Earller this Santanders
حمد
the
year, voted in another
This
plebiscite and again decided to return to Germany. threat of vast losses to France's resulted economy Luxembourg talks.
The
For three years the territory's
marketing of Lorraine øre.
The Cerams agreed to pay 550 millions of the 800 million marks which the vast scheme will cost.-London Express Ser- vice.
Japanese China Sales Increasing
New York, June 29. Japanese
china is
being sold in increasing economical and monetary link quantities in many US with France remains, That is the
to beyun
one
main point of the treaty variety chain stores, ac-
to cording Daily.
experts have
commodities competition targe materials in the oils d
draft. unfavourable. alution was group and their overall supply that
But for another three years,
third of the Sour's They had lost ground for use in soup (260,000 tons in Lorins
will be against yield used
marketed of all were now
this French concerns, 400,000 tons prowar), and had only
partially been offset by increased use an edible oil. tons of traded (About 400,000 and
oll
now tvero coconut
food products against used for
An In 1938).
added 350.000 danger, the
report said, that the supply of competing ols and futa was also expand- ing, particularly in the US.
MAJOR PROBLEM
was
Retailing
have Although some chains coal
dinnerware carried Japanese by
for years, at most chain stores. however, the appearance of mich Imports relatively госем. Japanese inports are "coming up strong, the retail public tion said
The Bank Of England Statement
"Latch on to something that is a proven good seller," it ad- vised its readers In a special article.
"Chain store buyers head- quartered in New York say the reason for the growing impor- 1.093,400,850
tance of Japanese china in their 10,722,334
It bring9 0 320,003,273 stores is simple: 234,350.000 higher sale and it tuns n ready
32,236,000
market.
About Double
London, July 1. The Bank of England state- merst for the week ended Junc 27, reads ne follows: Note circulation Publie depoalis The major problem, according Private deposits
Government securities Other necurities to the FAU survey, was that no
had Receipty growing country coconut
modern agri-Radio yet developed n cultural or industrial structure. afany of the producing countries were subject to the strains of
68 DILASS
17.0 United Prem
Although a 16-piece quarter set in Japanese china selis for
making newly-independent states The Bank Of France and $7.98-about double the
viable,
اله
Statement
M-
price for domestic earthware there has been " lack of sistence to price by chain store buyers."
come.
While some producing coun-
for an
tevaluation.tries were trying to raise yields upward
Paris, July 1.
"The buyer for one variety adjust- by better cultural practices, past
state- of France The Bank any They argue that
chain gave evidence of how im- an control and replanting with high
almost werement for the week ended June portant Japanese china has bo- several For the past ments should be made on International basis, and not bi-grade stock, taterally. Estimates of a possible faced with the Auture prospect 21, reads us follows:
This of declining total outpul.
declined of revaluation
had the of upward
Total other currencies 143,706,450,000 in his stores Deutschmerk
between was due either to the spread of Tou! gold holdings 301,204,302,420 years, he said, dinnerware males rango
steadily. Then the chain did two disease or to the declining area sight balance abroad
102,000,000,000 ₫ things: Brought in a lot of new D-mark 3.80 and D-mark 4.00
in EPU under coconut or even to in-
and added to the dollar compared with the
the Advance to Stabilis adequate replanting mel
domestic patterns tion Fund................... 184,089,999.8506 present D-mark 4.00-4.20
Jupatrese china. Increasing proportion of senile
Opposition
the
of much
deportia
dr
Franc
2,811,503,040,43
This year sales have shown a big increase and are climbing 148,917,031,323 all the time,' he says.-United
United Press.
of Bank notes In trees as in Ceyien and most of Total bills discounted 1,334,608, 500.000 Morcover. oulation the South Pacific. The National Bank strongly domestic markets were expand-Current accounts
countries and such suggestion. Ing in producing further into opposes any Their argument is that Ger- this
export surpluses, many's fighting hard to recover
The poor quality the ground she lost during
Crodit terms nro WAT.
Im-copra procured and the lack of pertant factors in many good acceptable standards and grades German also contributed to make mar- export markets but firms. it is felt, with their ket prices for copra among the stable among primary capital slashed by the war and least
the report currency reform of June, commodities,
to
FLUCTUATIONS
hence should play it safe
economists there
con-
of
Washington, July 1. the The Administration believes the domestic 1948, are unable compete tinued. cotton textile industry should apply to the Tariff and the Deutschmark value.
The effect of violent year-to- on from relief Commission for any
Rome reports песезвагу
average fluctuations in the year talking bluntly to ate Japanese competition, officials said today. the
Hallon public there days: You prices were severe on produc?ra must consume less, invest more, returns and on the value of the
Such instability trade. committes The Senate They said the Administration rise
purchase trac not want the dees
to antagonise proved a watered-down version and curtail instalmcat peaka between
clamping impert by
resolution Introduced by Sen. If you really want to się Italy's earnings had lil effects on the bale of payments, and hence 530-575 level before 1950 bows Japan
Income huge unemployment reduced, Frederick G. Payne and 25 other
Import pulley, an L. quotas on her products unless
of There is growing emphasis on out.
employment generally taking and can be proved that they are in-
of Importance But others are less sanguino
the Philippines and toward steps
Im-Ceylon, about stock prospects. Standard Juring the American Industry.
the famous Veron almost everywhere in the South & Poors, for example, notos a
for the creating of Pacific. degree of uncertainly surround-
The
for greater report called question of whether ing the
jobs for Italians in 1905 end the wiping out of Italy's international co-operation there Elsenhower will choose to run. disturbing less
"While the odds appear to be
chronie execes of imports over between producers and between consumery aver that he will be a candidate and
Sen.exports.
Elsewhere in Europe; producers and
such questions ne technical 'de- be re-elected, prudent invest-
velopments in coconut culture, Fortune Magazine predicted {ment policy must make
statistical
and services 1990 would be the best bus-allowance for a negative"
markceling ness year in the nation's history. prise," it said
modily intelligence, arrangements, trade polley and and supply long-term demand intentions-China Mall Special.
Sleek meanwhile insista thut any wage boost would have to be made up from a rise in steel prices. Many put this Agure at about $10 ton.
Elsewhere last
wero some
developments.
week,
Боте Bur-
Industrial production, it anid,
Two-Fold Effects
would be two per cent higher than 1950. What's more, It thinks there'll be a
DOMO
The Administration's stand was clarified efter the Senate Finance Committee urged the Tariff Commission to speed in
Investigations dustry-requested of the domestic effects of im- DUTLY
of textiles and othee products.
Signs Posted
version The original would have ordered the Tariff the Commission to investigate effects of all textile imporis.
Deal With Problem
have on
said The Committee Payne's resolution would required separate Inquiries 790 different types of textiles, even though heavy imports now are concentrated on only a few types.
new
end of
Mr May (August 1939 equals 100) NY Cotton
Exports
both
com-
Brakes On Switzerfam!--the most widely discussed subject is the rise in index which the CorumCT Omcials said the best way to
It cald Industries which feel jumped a full two points, in "further.
whother domestle injured by import competition May, from 173 at the end of Others think that
a decision determine
Commission April, to 176 producers are being hurt is vigorous upturn" for 1057. The
can appeal to the
at tha run magazine.
investigations. had
good by the President not to
present an "escape clause" case for specille words for the hard hit auto rain,, would also exercise some
to the Tariff Commission. In T.C. Jackson, executive Vice-Some blame the Government's of ther American decree, increasing the milk price industry. It thinks there will be restraint on the expected mum-
of the changed mer rally. The oxperta naist this way, they said, the US could President more buying 1037 models than had been the that the more favourable trend i cvolt arbitrary and discrimina- Cotton Manufacturera. Institute, i fractionally, a move which also In the past, the old the committee's action "has resulted in higher prices for of stock prices in recent weekstory action
the choose and buitor. caso in 1956.
indicates the economy ip wirony-state department on criticised spotlighted the fact that
ample
New York, July 1, Administration hade discriminatory legislation on-
Roports from Amsterdam and That would be welcome nows then many forecaste
ocied in South Carolina
Row colton exports by th and mithority to act docisively now Bruse reflect concern over the
tination og reported in bales however, Alabama against Japanese texto detebilsh import quotas dangers of Indation. indeed. Only Jately has the in- believed.
By to work of its
and dargo, dustry begun
tiles. Theo days require mer-solve the problem of rapidly
the by the New York Cotton Ex- что clock Inflation, care financial experts continu
cotton crossley colon textile! im-
put brakes on change for the 1935-60 season backlog of '900,000 unsold
Government has· bextiles to post signs to that ports." after months of production cut-strow the selective nature of the chants wolling Japanese
185,00 buying down to June 20 were as follows: maricot anti temper their backs and layoffs.
He salt the Cominereo, Ajfel-
043,230 thusiasm with constituations effort.
··· 1,004,000 Prentice-Hall. analysis, tad storming from the two-fold Japanese marchande priested culture and State departments payments ranging from 16 to 30: Briti W assured the Sonato Foreign Re per cent are now required. fon Orien sime good things for second effoats of President - Elwonhower's that the State Iowa, viciated hals 1930. In its current report political intentione and the over- 1953 US-Japmics Treaty of lations Committossey would the time purchase of much items Carde
and procted" to deal with the probe / Indios Vacuum cleaners and 3 economic picture-United Friendship, Commerco
lemUniod. Prous. Busitzēsu, thn, openc
Jem United Press. gone over ali manjoe-Industries Ploma
+
to
#the
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Contraecié
for
Press,
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with revised codes in force as from
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