TRADE
THE CHINA MAIL,
and
MONDAY, SEPTEMBER 10, 1956.
COMMERCE
Strong Bid To AMERICAN ECONOMY
Supply Consumer Goods
Leipzig, Sept. 9.
The Communist world in!
to
making supply consumer goods to
alrong bid A
thc
developed under .
nations of Asia, Africa and !
the Middle East.
East many appear
Je to 1
Th
To b
42241 tave
seeking
Comunita's NEG
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LAW Flet bole
files fur trust grands
1966 Brutuel Lopag b. they are
Bey all the palest
than Tede Minister.
5:4 1 A Jenghly at the St, Theod
Tradis Lep Uner goods for 14 T of under-
casteamer pro- A Gmany vare intend-
ed for underdeveloped areas,
STYLING
་།
E
1
Bright Outlook Despite Some Mixed Spots
By JOHN MÖRKA
New York, Sept. 9.
The United States at summer-end looked forward to one of its best autumn quarters despite some mixed spots in the economy.
ka
On the bullish vide figiztal 1. gh level of spending by, tend
government a bon !,
US Textiles
Markets
Review
New York, Sept. 9. Holiday
and the on-coming government crop report next week, all acted to restrict new business, but selling agents main- tained a confident view on the outlook. Most sellers held firm
prices shrugging off bids below the market.
On
SECTION
INVESTMENT MONEY AVAILABLE
Canberra, Sept. 8. Thero art ΠΟΥ Jorge sume avaliable overseas for Investment in Australian Geveniment loans the act-
ing Prime Minister, Sir
Arthur House
told the
He was replying to a ques- tion on statements by the Victorian Premier, Mr H. Bolte, that there were hare of overseas Capital waiting to pour into Aua- tralia.
KULITIN
Sir Arthur said private capital amounting to £400 million had been invested in Austrulja in the past six years.
Bir Arthur vald Austra - Bu had borrowed more
On the bear side: 1. The shortage of money and credit,
11y other country with interest rates at their highest levels in over 20 years; 2.
from The International Bank and had also nego- Middle East uncertainties and the possibility of war unless
flated valuable loans from Switzerland und Canada. some agreement is reached on operation of the Suez Canal.
Australia' credit WAS Poliure
bigh but of the long-awaited.
the Government agucultural equips more funds available for steadily
had found that large sums reflecting the approved j expanding business
neerts
buying movement to get under-
for investment In Govern- are rding to Prentice-Hall. One way, as expected a
ment loans
not were proved disappointing way for the agency lo de this, | ago, 41, buw-
Prentice-Hall says, would be ta
exerulives.
available, particularly from Bul 18 from 20 per cent bu
the United States-China ali felt that sources
ป
Maji Special reserve iqulement | needed to get the market going
act deposits de mand
1 for SITIO of the big Brey goods buyers lo come into the central reserve city banks.
market for the balance of 1958
And the rest of requirements the buyers will troop along.
2 send infl.tlint! 11ure, 3 Strong level I hurtsever
Thely, a Cutimister jus- Verording t good for the future spling will Lighter
IN 1937
1!
Son of burzmanne
the y
24tera mone experts, the redst
Impose jover the past traght de not Tappear to have revers the 1te in Mebile Ein spvding and price, na Miplest with fever.
en buried porine thing raw in the way werk to give cock porn a led might be reded on the
M the Find t
Make But East
A PR anele a consider- amily 12 1
and a watot
the meet part it
dot "bal Mat They ne tik
Warren Market!
M
***
*
breaver
thank
that
Iy that the Eistedd Hisarve nght be ruming to the end of
anthommiary
the sight against
NUT
ser
Paper Higher
mmercial paper ratos edvid higher this past werk by 'n per erat Un third such hike since mid-August The higher in lertst rakes nord ughtssing market is having soTING
some thundre a restricting in
Acrrding Sattanc United
Wall nathon-wide survey by the Cervellously
1er
Street Jou nad,
bulleting eurbed are being gummates with the pineh beng telt in vary,
the
country Arms are cutting
T
It
!
Thes C3 B
էր է
bran
Mot
of!
2
asonable
at the fare are ¦ at the present
Dow-Jones Ammude z pürid a total
advertai B 13 82
The Castian Super.
fear imple Pete Ste
Monti- Be that the
thation" AL-
the wh
at Westare de
clave" astrament
ift
་་
Entry
bke
3 big rid
je box, the paper
is there is cabinet-hvi
78
<t grees across me nailer
A
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11
V
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tune in Best Griman shops or peers in the three se zandis 29nce they are
ich too expensive
fow
may b But they would find market
undepois velengt part up by if Mac Community sell them ad farvements,e priors.
This 10
.- ז' ראיון
"
FZ Ty
woord and 1
products,
J. V
re
chethiral nandrels, ennser a
Tulpenales,
zu h
printing Press
tools for all par- Articulural machinery. miling Jocuri
of all types, Balles
United machines.
The Bank Of England Statement
London, Sept 9. The Bank of England state- ment to the week ended Sept 5. read ay follow..
Notes in
endale u
Publie deposits.
Thavad t
Gave present
Luther
Receipt
Rashtr
adalas
stehok
tel
17,541,483 271,031 0 200 556.62%
Rey ar
tivar 1) wid strength pincipally
provech
atmospira a
נזיר
Closing at 101% T- The IM Bahod on Wed- day at 105a.
Steel Output
10-
trolling and sarkomat Krem sume
amated by
with suprema
Nati
unity Counell In the domain
badband security
Expansion plans; the medium
159
few weeks
to
other
Print cloth sellers said that in has the last few weeks there
of orders bit been a dribble
nesugh
to keep them "in the
A
learing
weaver
| running."
sited his first quarter output on the basic 80 square construction A les alsout 65 per cent bookeck second house reported an un- Mlod order backlog on prints for about eight weeks.
JUST ENOUGH
Mills making wide industrial fabrics reported "fair-sized
drilis,
HONGKONG
STOCK EXCHANGE
sized one are delaying plass for fina.ng ourporate glants ardes on sateens, wide not affected. But even some of 1 Reds a
the lath are thinking of alts-sheeting. na dnancing plans and re-
plus. exacting h Pr
broken twills and some wide actions
Inred for a torbraleg agency gerbing the tants practical tu anam ant learned mone- tary specialists ceud cennom et to
ulating Jasenst
Also helping in jurt a stronger me to the 1st win The fasued advance in steel produc-licies, Ion The webusiry was schedu ed i Ta operate at 987 per cent of Caparaty last week -highest site the strike on July 1.
The auf industry nieanwhile Pollanters With His changeover to
1
"Thi Instrument
'Missing'
Ne
Is the needed missing Fedural the
newspaper
Thit
"It is more than a missing
of 1997 nodel, withink It is the missing keyrtone. Motors the vealy pro The Federal Reserve Bank of shares still turning at the 1950'New York and that the recent Car stocks Continue to spurt in con aimer prievs uPRES industry to gather momentum. The Bank gractully reflects a me hopes | mac mi ful look for the new sandels
TH
the
United
Bookings in the past fortnight have been just enough to clean up accumulations that were beginning to cause un-
UUSI TAGAY.
Manufacturers
reported #
The Bank Of France recent business pick-up und
Statement
Paris, Sept. 9. The Bank of France statement ended Aug. 30.
for the week
ready as follows:
Tulul gold holdings Totud ather currencies Sight balance abond
expressed optimism that the usual autumn buying movement may be getting into stride over The next week or two.
Page
Suez Focal Point For London Stock Operators
By C. T. Hallinan
London, Sept. 9.
The stock market fluctuated widely last week Under- depending on the news from the Suez. neath, however, the pattern was one of quietness and dullness except for a brief spurt on the opening of the new
account. Even the unexpectedly large drop in the August gold and dollar reserve and the Trade Union Congress' unhelpful attitude towards wage restraint fulled to distribute to the markets' attention from events in Cairo.
British Governments opened the week badly, with widespread falls of up to half a point throughout the list, chiefly the result of the warning by the Chancellor of the Exchequer about the economic situation.
A steadier tendency deval sped
which the news Tuesday
Ot
ย
12
WIVES UNI
dislocke
falling
gold
Wedne day I
But the
when
!.
not restored epparent
became
that the amekatalo newa abroust Suez had became 1316 uncertain still and there was little likelihood of a mile- meal of Suez Ar some consider able time.
Two and Consola lon
.me/hdf percent is the work, 4-pereis 4 and Doltons th Tropom thron
percents
down 13/1612
(From Our Correspondent)
Busaess done on the long- kong Stock Exchange this morning anicunted nately $324,000 tions und
Steadler
l approxi¬ Non quota- the morning's trans-
Huyers Sellers
Balen
opened, the
..
1030 040
238
1640
frees remained
restrained
merkets
declined ย กรณ
1000
Thursday,
17
1003
ukr
44
1.75 885 1000
$30 01
1000 A 13 70
shares
BANKS
HK Bank Eusi Abla INSURANCES
Unilos Lombard SHIPPING Wherlock DOCKS, ETC
14 10 13.30
145 1475
war
tane
Vietnam's Decree
An
Will Not
Affect Japs
Saigon, Sept. 9. authoritative govermunt source pald today that
South Vietnam's new decree foreign merchants will not a Shark Japanese businessmen,
"President Ngo Dinh Die on
"The decree is aimed At breaking the Chinese monopoly busi- fon certain small retail The tendency in the bitustrialnesses," the source told United market has been simile. Eurly
Press, it affects only a few im- declans were followed by a quiet poris, primarily rice and cereals. but toaster close to the account. It does not affect industrial Im- And on Wednesday, when
ports." [new account
was more cheerful though busi-Thursday issued a decree for- and bidding foreigners to engage in
on eleven types of business, narily small retail trades. The Farmborough.
show drew interest towards nircraft shores. Hawker Siddeley гæe to 4874. and Rolls-Roycu 58. 3d on Wednesday.
Pending the outcome of the in ols was low level. how-
360 ur 15.20 Suez talks Interest $7 200 07 at a comparulively Shelf
2n
150
WILS
ever, on
The
outstanding,
good quarterly 1.375 0440 0 1.50 figures, and rose . 3d. to 155s.
5000 v 1.50 od. after boing down to 148s,
abou! Bargain hunters 200 23.40
K. Wharf Duck Provident (0) LAND, ETC. stk 1otel.. Yarn spinners also reflected and
Humphreys confidence. Manufacturers re-
HUBBER porled
considerable talk of Amalg Irane 301,204,302,420
An impending one cent a pound Trust 12,685,040,201
Trevor
the ULTOSS
board UTILITIES Fourth quarter purchases were Tram_XD .. 116,015,000,000
in being placed Advance to Currency
Increasing Star Ferry 131,000,000,000 | numbers. Sabaton
Good quality yam, (C. Light (0) 24.20 24.30 Total is discounted 1,359,502.700,599
recently avaliable for immediate nak len in eiten] =
ia now 2.070,881,429,10 shipment,
generally thos
promised for October delivery 102,013,100,504 at the earliest. -United Press.
in ENU.
Its August review busines that since mid-1955 the
..I
Even the textile industry shota aggius be on the wholesale promise of an upitan. Lakewwe, vel amwunted to tour per tel
Profit-Taking Hits
Wall Street At Weekend
By ROBERT G. SHORTAL
New York, Sept. 9.
almost
Stock values
rose
and two fer vent for coneumer goods und services.
The kiflutichany pressure had bres further intensified by the
Current decounts ael
deporte
recent ending of the long der Exchange Rates
in tam prices, which
the
"dwink
previous four yu ba Black by uffret the rke m
| udusinal prices."
**J%G
Th pressures,
Busines
Yoursil
23 23 40
135
138 100 +10
509 6 24.40 1065 24.30
$412 31
307
fit
were
Foreign
almost
for Anglo-Egyptian "B" - lng the shares 55, to 38s. ki,
Suez Canal closed up for the week
£57 ends were untouched throughout the week 26.00 100 24.10 with the exception of the Ger-
showed a mans which
certain 2400 23.840
200 23 70
zmunl 36 37 500 3011⁄2 Press.
13 20
quiet and 1300
| C. Light (N)
Electric
301
Telophone
k-
In
2730
(0) Telephonic Rayan grey goods sellers ex-
IN)... pected autumn seasonal activity | INDÚSTÍUALS" to get under way shortly,
Cerment 10-
Rope celerated to some extent by the
elult was dotte in the local decision of large weavers to STORES, ETC official exchange market
this shut down mills for the first Dairy morning at the followiner tales:
15 Watson.. 12 10 12.40 DC 13 Some September. 4.14 week 3. dollar (per $11
Crow 15.83 estimates ventured a guess that | COTTONS 12 84 the shutdown removed about Textile Indonesian rupial (per 100) 1946 20 to 25 million yards from the
Taz market, -United Press,
GU 1.07!
1500 15.00
Love
29.60
Corp Nanyang INVESTMENTS Yanglaze Allied
...
430
7,40
6.03
J
5.10
300 10.40
Bank
wded, have been partly held st
Sterling poles (ver £1) Australian notes et 215
check by "strongly competitive"Bus tical ther 100)
(Straits) conditions In yo important Singapure sectors (notably durable guda) by seal and monetary polletes designed to restrain excess tit- mands and by a continuing ex- panion and unprovement productive facilities.
New York Cotton
Futures Continue
The Bank warned, however, three
thal the strengthening of the quarters of a billion dollars this holiday business enthok following the week. The market scored sharp gains on Tuesday and Wednesday. It fell back on Thursday and Friday, mainly under the t pressure of profit-taking.
Hopes curly in the week that (
steel settlement and the par- both bility of un upsurge in business and consumer purchases. n the autumn could spell a new
flationary spirul.
financial Prentice Hall, analysts, we the problem in terms of a gradual but persistent Inflationary whirl. The core of US. Smelting was the bright the long-term inflationary prob-
metals It moved len van barely be loucheri up 5 port
1145 manoeuvres," "monetary Agency finds.
The heart of the inatter
u compromise solution would be spot in the
found to the knotty Suez crisis
helped
to buoy the market.
International oll stocks
ang
up a number of sharp gains in
Support
The ulls commanded the
the because of
marinly
Sucz
pite Tellim in The last two days of riding, Union Oli of California coded the week up more than 0 points on its dis- covery of all in Costa Rica.
!
A Gap
by
LS
Their Advance
}
By William T. Plunkett
New York, Sept. 9.
Cotton futures pushed into higher ground for the third week in a row, lifting all deliveries from March into new seasonal highs.
market
HK. & FE
Invest
pri-
The government said the de- 1,000,000 cree largely affects Vietnam resident Chinese who control much of the nation's commerce.
Petroleum importers and tex- tile merchants dealing in large quantities are specially affected.
Unked Pr€36.
East Germany
Signs Contracts
Berlin, Germany, Sept. 2. The Communist press to- han day sald East Germany of fluctuation.-United signed contracts
export goods werth 147,000,000 rubles (US$30,750,000) at the Leipzig
300 15.80 US RAW COTTON
EXPORTS
New York, Sept. 9.
Raw cotton exports by de-
to
Autumn Consumers Trade Fair. Press reports said East Ger- typewriters with worth 1,000,000
many Gold
Areble script
rubles
to Egypt, and sewing
stination as reported in bales by machines and Inusiness machines
were as follows:
kest Germany signed
COTI
2509 10 the New York Colton Exchange worth 1,300,000 rubles to Tur-
for the 1938-6? season to Sept, 4
tracts to import 3,500,000 rubles 33.680 82.835 worth of butter from Denmark, 106.433 1,000,000 rubles worth of cheese 9.470 from Finland and 800,000 rubles 230,000 worth of wool from Uruguay
Japanese Restricting
Damask Exports
Tokyo, Sept. 9. The Japanese Ministry announced that it would restrict
of Trade has
licences for export to the United States and Canada of damask table cloth during one year beginning September 1 this year four million dollars.
to
The Ministry said the measure was taken in co-operation with Japan's textile 'goods exporters association which was restricting shipment of this commodity
Britain
Continent
Orient
Canada
Total for BLÚZOTY"
Bame period last year
excluding liners
72,305
-Unlied PreID,
The fair runs from Sept. 2 to Sept, B.-United Press.
spotlight most of the week. that wage and fringe costs are the first two days of trading.
But then profi-taking sel in. falks. Gulf and Royal Dutch doing up at an average rate of 5 both Anished the week with per cent or more per year, the In addition, the Suez (alks up.
Extreme gains were pared under realising peared
to bog down and the gang of more than a point des latter at about 4 per cent."
This outcome became clouded.
and hedge selling. The list at Friday's close ruled prompted some traders to sell and others to adopt wall-
6 lower to 45 points higher, or off 30 cents to up and-ste attitude. International
As kog as that gap exists,
$2.25 a bale, compared with the preceding week. the agency says the economy olls also feature on the down
"creeping inflation." side later in the week.
The only group which failed will have
October liquidation and hedge the government's August igure Individual gains ranged to to Anish higher on the week Availability of money, not its more than five points in Zenith. was the railroads. This group price, has become the key factor selling in the December delivery of 13,552,000 baies. Other companies engaged in has been the laggard in the in the current credit squeeze, the impeded rallies in the nearby
deliveries, Increase in southern. Avasge guess of 60 members voluntarily from September 1. the appliance and electronics market for nome. time now. ogency says.
offerings coincided with the of the New York Cotton Ex- Japanese export of damask fields also enjoyed a good week. Santa Fe was down more than With homebuilders, car dealers
higher apot
trend. change
cloth was 12,027,000 bales. table
made of Hoffman ron up more than
a point,
and small business feeling the Average price for middling one- Highest guess made was 13,880,- cotton, rnyon fabrics to the points.
most, Prentice-Hall
000 bales and the lowest 12,200- United Statos and the four-day weck 63W
33.02 cents a pound. inclu:trials up 3.72 points at availability of money might be a
markot
sentiment members average
was totalled live million 500.76: 20 rabmods down 1.03 handicap for the needs of an
to be dominated
bales. By 12,737,000
Average of hundred thousand dollars at 159.62 and 15 utilities up expanding economy. The money five main factors: 1. Anticipa four private surveys was 12,547,- counting for about 80 per cent port this past week on the 0,09 at 08,72. The composite supply hat kept pace with ton of in extra-thamp drop In 600 bas
of import equipment of the two strength of their big order of the US stocks was up 0.70 spuding.
the
Lean entries as of August 31 government
entunate crop backlogs which presage good at 177.32.
Output, it fods, the ratio of due Monday; 2. A rapidly ini-reached 133,000 bales comparedes, trade sources said.
Japanese exporte art entries wil
with producer
bales only 34,181
im-
reportedly money to output In 1850 is now crossing rate of
accumulating
In Last 54.3, the lowest point since 1928 under the loan programme; 3. pounded to the same as
Americans and Canadian markets) when it was 62.4 per cent. The Expanding exports 4. An ex-year. In addition, the govern as unsold stocks, there sources WHILE edged up a bit last expansion of the US money sup- pected sharp reduction this year ment held 0,063,701 halos from sald Router craft jumped more than 0.
slower in In the carryover surplus; 5. the 1955 orop programmu. Both stocks touched new highs week. Sales overoget 1,788,577 phy has be put than
minimum In view of the rising rath of for the year. Lockheed was up theres dally for the four the post-war period
the smaller crop compared.e with
US output, It finds. acreage allotments for the 1957 exports, and krowth hi 3. It also touched a new top ons,
this
#£nson, dealers thought it Booming
demand for steel 1,000,407-share average for the Back in 1945, with the total crop
unlikely
tho 1950 loan move. and predictions that scramble five serulong the previous week, national output at 218.0 billions,
the rat Of the 1,342 vues: treded ratio was at its high of 82.0. will not worne as the year to inst. weok, 681 advanced, 497 Tho raiko has doclined steadily
2,000,000 to 1,000,000 bales, grenses demand
and 168 held un since, despite feidy rise in
Truda sources thought the Block with Bethlehem moving | declined pherd moro than 4 and US changed. Now highs were hit by output,
Intense prorsura will be put Steel rising 2. Lukons added 61 Insung and new lows by
125.United Proos,
on the Federal Reseve to make
The Dow Jones averages for ponders whether the actual inch at thy-14 southern markets 000 bales. At New Orleans, 51 during the calendar year 1955 TELNEN ANDR
The aircrafts attracted sup-
North American
business in the months ahead.
Aviation
almost
4
points, Douglas Air-
paced its group with a guin of
pro-
for the
Volume Up
Volume
the Announcement - of
Crop Report
molly will approach the record
Inmediate attention cepure grade and gaples will be lower.
His ytor Chọn originally ex packed-United Press,
on the governmcat,crop repart. :
"Trado estimates suggested a out to 11⁄2 milion bales from
mixed
Canada
✡ve
with revised codes in force as from 1st April, 1936.
$5.00 MOUNTED
00.
$4° UNMOUNTED
from
ANAMESAKES:
Answer Franco, 2 Harmony, South China Morning Post Ltd.
B Baritond, 45/Atla}; 5"Libretto, Operarum-Falist, »B!»Arpeggio,
Overture 10 Music: 11 Toror,
11 Soprano. 13 Conductor
Chinias. Clounod
HONG KONG"&" KOWLOON
ہو