TRADE
THE CHINA MAIL, WEDNESDAY, SEPTEMBER 19, 1956,
and
COMMERCE
Cotton Sales Behind The Iron Curtain
London Stocks Close Quietly
London, Sept. 18.
Stocks moved narrowly and closed irregularly lower in very quiet trading on the London Exchange today.
Oils turned care and postet i decline In fairly i
a moterte
active
Rave up
deading:
Royal Dutch t
down
X1-10-0 whit
other words were
tween
1
one all two shilling
But Cribbar issuez Armed
Volume in other group was
exceeded frnetjes
MIXED
elunges rarely
PICTURE
WORLD ·
RUBBER
HELPED NARROW EGYPT'S MARKETS
UNFAVOURABLE
EXPORT-IMPORT GAP
By RICHARD E. MOONEY
Washington, Sept. 18.
Cotton sales behind the Iron Curtain helped Egypt narrow the unfavourable gap between its exports and imports in the first half of this year, the Commerce Department reported today.
It said President Gamal Abdel Egypt arranged to barter cot- Industrinis presented a mixed | Nasser's Government stepped ton for Communist weapons
Hudsons
and Buy picture
up both purchases and salesfter failing in efforts to obtain Borax showed small gud
Latrond during the six-month US arms. British Governments tended
perod. But it said "the rate of lows on tatoueurnent of
Carcase imports was the greater, 1 at the De forn 1
and the result was smaller 2/6 4.5.1 close
areund
sunce of trade."
PAR
Issues in denumi
Folign
wrc
There also have been uther signs that Nasser's regime is slipping deeper into the Com- iamnunist economie orbit as a re- sult of growing tergon with the West.
However, diplomats and trade
keeping
u starp Speria
frade trends. vye on Egyptian particularly with Russia and its safellites, in view of the row be
Naser and Britain and
the Future
5/-
634 bares
th
Dunge Five
generath
State
qui
KF ganti reverend la
Over
The Suez Conwi.
except br
German Polasit seven par rental
Dilar stuks cheed misNÍ
United Pres
tween
14
أنه
Wall Street Loses
1.5 Billion In Sharp Break
New York, Sept. 18.
The sharpest break in a month wiped more than 1.5 billion from stock values today.
Individual losses ranged to more than four points on the heaviest trading since Aug. 21.
chemicals.
fustruads, Suck
The decline. and metals puerd All sectors of the market tek al- the ting of the selling. though most issues inunaged in! close above their lows
looking for a Chrysler Corp. banner sules in 1957, was one of the few upside standouts in the goneral hist. It Jinished with
polni gain. Yesterday 4 gained more than 2 pouts Ford added
small fraction
Canadian Pacille R
Case id, ty Co. Lot Tractor ..
Celanowo Cury.
CT Financial Corp Chand Manhat. Bank
hrysler Motors
Vidin Amer. Bugar
Dumond Alkali
Thow (rearifandi
3445
કૂવા
151
Department
The Conmerve report was published in the De- Commerce Foreign partment's Wockly? It said growing cotton soles behind the fron Curtains the Brst half of 1950 boosted Egypl'a export earnings 35.8 per cent above the test half of 1956.
US Urged To Bar Aluminium Scrap Exports
Washington, Sept. 18. Aluminium smelters have to urged the Government bar
aluminium scrap ex- fourth ports during the Meanwinje. "usually heavy" quarter of this year.
of machinery The aluminium smelters, at u Egyption imparts
of the with officials and other capital goods resulted meeting
Business Les 23.4 per cent increase
and Defence Services drustic Egypt's outinyn tor import Administration, suid Since exports
than reduction in exports is necessary imports. the Bup In Egypt's because of the decreasing scrup trode was narrowed by about supply available to the industry ane-11th,
hove euch been 4,000
FUNG more
Sharp Decline
te
exp quotas for the last two
New York, Sept. 18. The No. 1 Ras rubber future
10 10 points lower with sales of 42 contracts,
SECTION
WORLD
COTTON MARKETS
New York, Sept. 18. Cotton futures today Ica-jawed narrowly in slow dealings.
Closing оп
11 note of sleadiness the list Onished 1 lo
4 points higher. Opening prices off 1 to 5 points New wêre
Page I
Japan To Improve Quality Of Exports To United States
By JOHN MORKA
New York, Sept. 18.
A leading Japanese trade expert today
contract cleas today unchanged Orices elosed up 3 to 5 pants, assured American businessmen that a cornerstone of Japan's export policy vis-a-vis United States is to expand its trade "with A minimum" of dislocation to American industry.
Closing prices:
Sept.
33.00
Dec
The ex points lower to 80 points higher with sales of 210 contracts.
Sept
contract closed 10
22.03
32.85
32.10
Nov
כד 11
Traders marked time await- Meanwhile mg new incentives. aclivity centred on adjustments October delivery anti- in Alz cipating Arst notice day al Monday.
centrul what
Accordingly, he said, Japan's !stopa 找你 future polley will move intre Idofrimenti to the industry." Mockwete hedge selling an The 'and more in the direction
He conceded that the new Cuent PLOTE ditivenes diversibent.an
apitomiring | emphasis on quality controls The
might man itensive | Gamlity kept prices
some export loses Tricin time, Jocrquee.t
Nogamara. mannging to "Japan particularly in the inred
{ Jap printed directe offering
External cheaper Hems—bil, he added. goth, in
Trade Recovery
Ciegatubation"in the long run, we will news of the rapid expans worn and
conference that buble to carn more dollars." herved operativas.
such differences that did exist
the
October liquidation was taken ap by brade, particularly ages forward.
JAS
Mul
May
July
Sein
30 70 30 19
Standard
contract clused 10 points lower to 5 points highe with mies of 33 contracts.
Sept
33 63
32 63
Dec
31 73
Mar
30
Muy
July
30 60
30.00
Sep!
Términal
business
3,540 lules
ended on
Govertument
market
|
Lles, the
$942-
Goodwill
he
He said that he had found a along reservoir of goodwill
gone
է
bre
over the rising the of Japanese exports to the United State radably, textiles "eun be re solved through an exchange of Open October emtræets jodey opinion on both sides." totalled 179,200
He urged Japanese exporters among American consumers and certificated tock remained al and manufacturers intent on | LusinessMEN toward Japanese
their
has American products. Japan developing markeis to
tamr
long way" in obviating the idea gear
thet wth a full under- grammes
Japanese products ༢།
with peor quality, standing
the American synonymoUS
he said. situatia
Commenting on opposition to Japanese textiles in southern stales which now requiro merchants to post signs whom they handle Japanese Lextiles. Nagamura said: "Naturally, we don't feel happy about the
tuation. aran
However. It has had no direct influence on our ex- parts do the United States or to other countries.”—United Press.
steadiness A note of
crop weekly following earlier unsettlement.
Futury suici warm sunny Buying credited to commission
weather
with above norinal houses and the trade bolstered
favoured! rapid while traders continued temperatures. prices
harvesting in the main belt this lo await
Suez developments. 10
Iri Texas, harvest 1s Lower Landon-Singapore cables week
widespread,
the except factors, were early upsetting News that latest advances in the southern areas where it is Bnish- willed. in the fur soulhwest, warn use of synthetic rubber
weather lasen the need for natural rub- | sunny
favoarekik for rolton, the report ber also attracted attention
added
wins
very
Government Support
Nagara 13 en route Tokyo after several weeks in the Canada He United States and
Canadian revent attended the National Exhibition at Teente. The Japan External Trade Re- Open interval : covery. Os genialión, krown us
170,300
JETRO, was established in 1951 589,100
with government support
1 ľ Jupatwese foreign trade.
1 the delivered market, fae- tury business continued stoww, In Mouth the shipment market, offerings Der were reported tuir but prices too high for local acceptances. Spot May No 1 Rss was quoted nominally 33 cents a pound.
SINGAPORE
O't
Volume 4,000
11.100
Mai
11.600
$3,800
13,000
2:36 600
the
July
5,200
210,00
Get
1.700
Der
2,700
Маг
Total
300 40.200
NEW YORK
Was
quare
The market opened lower on tons.
overseas advices but steadied on The smelters use large quan- trude buying later in the day. tities of
ira SOPP
producing There
demand for good aluminium soczy
which lower grades but factory inter-
eals were quiet in Egypt's used by foundries, "A sharp decline
No recommendation United sulca uf States which began in 1955 was made by the BDSA until other ul the industry have reflected in a 43.3 per cent drap, sections
mid- to the been heard, probably by
the BOSA Egypt's total exports
six September-after United States in the first months of 1055 from the corre- makes its recommendation to the I spending period of 1955." the re-Commerce Secretary.
ન કયું.
During the same period, Egypt 4111⁄2 increased
1ช purchases 5244
by 82.2 Koods 731.
American
135 cent. Its principal imports from So, thus country were automedika
DEFENCE DECISION
The recommendation will be torwarded to Defence Mobiliser Mr Arthur Flemming who will make a decision.
מאז,הנן
41,400
904
15 400 iden
for
ስድ
developing New York Sugar
Market
He cited volumery quels con- trols which Japanese exporters have imposed on certain wearing apparel and textiles as an i
Prices of futures closest tinter dieation of Japan's good Inten day elesed unchanged to 2 polnis
NEW ORLEANS
34.400
34 TO
יד :
New York, Sept. 18. World No. 4 sugar futures to- tion toward the United Stoles.
of two (CT)^ higher with sales The sentiment for voluntary i tracts. coolul is strongly imbedded in
The domestic No. 6 ruger Jupan day," he said.
futures closed unchanged with The
voluntarily present
Zaks at 22 contracts. Futures: will be imposed controls.
Contract No. 4 (world) effect for some time." he said. Best Potential
Prices of Itures closed today dollur earnings, Nagamura
as follows
Spot
Oct
I
will 1
Dec
No.
Future closings were:
Oct 1 rubber per b
9326-934 Nov. 03.03
Min
May
July
Dee
No. 2 rubber pet b No 3
unquoted Oct. 911-02
Пе
Dre
10-
Atar
No 4
B7-86
Spot rubber untiest
93-937
Blanket crepe
74-70
No
1 pale crepe
120-27
As follows
LONDON
Spot
The market was quiet with spot quoted at 29% 19. Prices: No 1 Has spot
Ch
pence per
11
Mar
May
20-291.
Juls
Settlement' house tenn
Ou
O¢l, Nov
20-20
Dec
20%-287.
Mar
Dec.
2015-2811
Oct./Dec
284-28
ล 24,000-
Jan./Mat
2714-212
to 11,000
Apr/Juin
July,Sept
2016-20 25
General markets, ell basis, ports:
Sept.
2714-273
Nov
Oct.
271-27 27-2714
Estate crepe this Oct thick Oct
AMSTERDAM
25 35
The smellers also recommend- parts, that no aluminium be called
stockpile i Gavemment for the Pranes,
months of lextile machinery, iron and strei | during the first six
1957. The just call made by the sheets, tallow and wheal.
fourth Goverment was in the
High Tempo
nax Molybdenum Colgate-Palmolive Co
commercial Credit
Commonwealth Elec
40 414
ispare
paris,
engine
Cumulidated Edon Continental Oil at Del Crane Co
401
Iructors,
excuvalor
120
35
Arown ZeHerbuch
X
0145
Dupont de Nemours
2001
Eastman Kolak
HP
El Paso National Gam
Mr Halloazení
Family France Corp
General Elcene su General Minutes
301
Improve-
which
Hard To Find
Gainers were hard to find in the 1st. Those that appeared fractional sported Dents for the must puurt.
Owen-Illinois
Glass,
will merge with Nailono), Con- tainer Co,, was down more than
Ford Motor
| General Motors
Gen Pub. Ulal
Getty Oil
sicherra Co
Goodrich C
tonyear Tyre
even Chemical
4 points. International PaperBomstake Mining Co.
I almost 3 and Douglas Air- craft almost 2.
Gulf featured the alls with a tipe of mere. Texas Co. lost a point and Continental Oil more than 1 Royal Dutch, Cities Service, Standard O} {NJ) ord
numercus down fractionally.
chers
tuge boll-Rand
inlon Sleel C
Interchemical Corp.
ist Business Machines
Int'l Harvester
Internallunni Nickel
International Paper
in Tel fi Tel.
| John-Manville Co
The report said Egypt's "high
of industrial tempu continued during the
activity secund 11⁄2' quarter of the year, construction 471 pontinued to expand and plan-
Cing for now industrid expan 35% mon was accelerated.
FERT
463
Egyptian price
]u*s!}b! ! {
slightly during April, May and 1
th June. the Department
partly because of the seven per cent import duly on whost all and
35% imports imposed last year
a new one per cent duty estab- 11Plished in April-United Press.
دان
اح
Kansas Power & Light
41
Kendell Copper
133
were
| Liggett Meyers To Co
BU
1kterd Alterat
Louisville & Nashville K Menata Trom Corp
A total 9 stocks hit new lows for the year, white only reven wuched now highs.
Of the 1.153 issues traded, 682 declined and 225 udvanced,
Sales today of 2.200,000 shares compared with 1,040,000 shares yesterday.
Exchange New York Steck bond volume was $3,020,000.
Stock American volume was 830,000 shares,
Dow-Jones eloning
WOIC
30 industriais
2) rulla
15 utilities
68 stocka
45 bonde
Comm. future price index
Comin, epot prive index Moody's index
Lotwa loop
Lone Star Cement C
Minnesota Minini Misalon Development Monsanto Cheusical 20 Montgomery Ward Motorola hue. National Coah Reg "A National Dairy Prod National Lead
National Steel Corp New York Centrai
Olin Mathieson
Olis Elevators Owen-llinula Glass
Pacific Gas & Elec
Exchange Pan Anierican Airways
Paramount Pictures
Packe Dayla Co
averages
Penny J. C.
Penn, Hall Cu
Philip Morrla
493.45
Procter & Gambio Ca.
107.70
Pittsburgh Plate Glas
07.70
Publickor Industries
173,00
Pure Oil
92.47
Radio Corporation
Closing Prices
Alden Inc. Acy.
Allled Chemicals Allied Mills Inc. Allis Chalmare American Airline American Cable & Radio
Corp.
American Cyanamide Co. Ainer, & Forg, Power Am. Mech,da F Ury, American Metal American Binelling American Tol & Tel American Tou, "n" Andconds Copper. Atmos Steel ' Atlas Cond. Mining Bejowin-Lima-limen. Baltimore & Ohio
ATHUGAYEation Corp. Fandort. Cone. Bethlehem Re
Josina Airplane
Morden. (They do, maka Kurroughs Add Machine ........
101.31 Republic Steel
Reynolds Metal
104.88 50411 Oil Co. 427 00
Baint Reg. Paper Sinclair Oil
Bocony Mobiloi
Saul Puerto Rico Bugar Southern National Ga Bouthern Railway (Com.) Standard Brands
#10% Standard Oil of Cal. 10034 Standard Oft of Ind
Standard Oll of NJ,
334 Sleep Rock
2214 Sterling Drug Co.
Blokely Vnn Camp, Studebaker-Packard Corp.
192.
49
7412
422:
CO
MERCURY
PACKAGING
two
quarter of 1955 when
to call was reduced
tons. In the quarter before that no call was issued,
During the first half of 1955 125.000 the Governient tock tuns out of a scheduled 200,000 tons. No cells are scheduled for this year. China Mall Speekvl.
Successful Synthetic Truck Tyres
Akron, Sept. 18.
The United States Army ha completed sucecratul tests un all
truck tyre) sthetic military Rade 1. L new swithztic muterial called "coral" develop-
d by Firestone Tyre and Rub- ber Company.
The
new synthetic is clabned
to have all essential properties
of natural rubber.
S. Firestone.
The sloudy. guilders
Inarket We quietly Priets closed today in per kilowaren, vit Oct.
PR follows: No. 1 rubber No. 2 rubber No No
3 rubber
I crepe
1.84 buyers
2,00 buyers 256 buyers
3,40 nom.
United Press.
New York Foreign Exchange
New York, Sept. 10, Closing rules were: Canada
England-official
++
$1,02-29/61 2.707/10 2.7731
Old contrmel
Oct/Nav
May July
Spot-ternt per ib. fob Cuba
Contract No. 0
32 50
42 43
Sp
In order
incrense
their
sald Nov
3282
370
3933 03-61
Japanese manufacturers government officials realise that
"increase our Sept the only way to trade is to stress high quality of Nov. our exports" market.
Mar and
May July
to the American Spot-cents per In
34.77
32 14
32 54
32 43
2.1
2003
programme.
Japanese
heavy
1
P: lees
blouse
Cet NEV
Dre attack
Jac
Ma
11.04
11.75
11.20
13.33
United Press.
LIVERPOOL
Futur closings, in pence per b. were as follows.
The United States, he said. ffers the best potential for ex- panding Japanese exports, but. he added, this market can be tepped only with greater diver- sincation and improved quality.
Не
that as part of predicted the diversification
envisioned under the
24 62 exports-under
ax-duty!
cl NY
United Press.
CHICAGO LARD
FUTURES
Chicago, Sept. 18. of lard futures closed
- today in cents per lb. as follows;
24.80 from American textile groups- 2404 will be upgraded both as
244 quality and price.
This doesn't mean that there 2+ will no longer
24 AS
24.02
iniled Press
be any dollar
blouses," he Bald. "But the
30 Do general tendency will be in the direction of better and of course | more expensive blouses. No legal pation can be taken against dollar blouse exporters. but we facturers will voluntarily
NAMESAKES
Answer:-1 Judgement, Oratorio, 3 Musle, Vienna, 5 7 Har- Leipzig. 8 Orchestra, mony,
SCIONE, Symphony,
CHICAGO GRAIN probably find that manu- 10 Conduct, i1 Creation.
take
Joseph Haydn (the composer).
May/June-
Decal
Mar/Apr
July/AuR
New cunicaci
Oct/Nov
May/June
July/Aug
Dec/Jan
Mar/Apr
Egyptian Kamak
Del /Nov
230
MARKET
Chicago, Sept. 18,
mostly
An
wtre
Crain futures lower in an active session the Board of Trade today.
Soybeans, which made urge gains yesterday, attracted profit- 30-day futuren
were frag- 2.16-13/10 taking today and D0-day futures
2.23-13/18 tionally lower,
F
Australia New Zealand
Beypt
South Africa
Pakistan
2.77-15/32 1.78-27/32
2.0011
2009
2001
United Prem
London Foreign Exchange
Mr Harvey Hellerton, Sept. 18.
Chairman
India of the company, said Mercury is now being i
that "uccessful development of
synthetic packaged in polyethylene this
rubber may containers in
new eliminate the necessity of ex- sizes by the Bethehem pensive stockpiling of natural
Company In rubber in the United Sistas, Apparatus
experts tested large Army corporated in a small nine-heavy
on loaded duty tyres ounce package with dis-military vehletes over rough ter rain in extreme summer heat. large pensing tip and a
The performance met
or exceed 65 lbs bottle with plain
all military requirements. Firestone's pilot plant la now сар.
producing coral
coral rubber in ex- range of
quantities. Intra-red This extends the
perimental containers in and X-ray analysce have shown polyethylene which pure mercury is obtain that coral rubber has essentially the same chemical composition as natural rubber-China Mall Special,
50 able to a line of five package
381 put out by the firm. The line now includes mercury In ning- ong and Bix ib bottes GL100, with dispensing tips and i
3776
59
35
10
21 and 05 lbs bottlon with plain 54 caps.
cd
LONDON METAL PRICES
London, Sept. 18. Clesing voter ware;
New York Montreal
Amsterdam
Brussels
2.78-8/36-9.783
Traders liquidated spot month commitments in preparation for expiretion of dealing in Septem- ber futures after tomorrow's close. All nearby grain contracts were down' as a result,
Wheat held about steady, down, corn, tyo and oats were with rye attracting proft-taking also after yesterday's Increme, Wheat closed off to up cent; coybeans up to off 2. cents.
Prices per bushel in ocnts:
2.7174-2.71-13/19
10.0356-10.0312
1302217-130-2744 Wheat, No. 2, ed
Copenhagena Frankfurt
10.3390/-19.34
Closing
11405-11.70
Spol
223in
Milen
176012-174335
Rept. 2011)" 222332
Par
DK.
22916-230
Stockholm Zuricli
16401-14.402?
Mar.
12.1044-13.101
May
Others were unchanged
July
United Press.
Corn, No. 2. yellow
Apot
Sept.
15034-131
Ded.
1931
322
1412
Bwill & Co.
44
TURA Co. Ken
London, Sept, 18. Prices of metals closed today.
NEW YORK METAL FUTURES
Mar
May
July
Rye
den.
"Tide" Water' Aun, Oil
4114 Union Carbide
Twenty Century Fox Tilm
26
114
40
est to manufacturers of hustru- lows: 201ments and electrical apparatur, 7915 The 65 lbs bottle is said to have Tup
problem of packaging solved the
Now York, Sept. 10, Prions of metal futures elogerk joday in cents per lb. as follows:
Dev,
Qalı
Sept.
Do.
Soybeans, No. 2, yellow
Epot
15.251)
49
Class-boulen month
J-month Spot
18.356
Spot
Bepl
Nov.
Jati,
Mar.
MAY
19.16
13.12 Barlez
apel
150-145
$10lb New York flour
NA
$18.50
tטר
175**
535 Union Pacino Railway
014 United Alterati
84 U.8. Folt D
175 UA Gypsumn
13%
40
UB. Lane Co.
8. Rubber
UB. Bmelting
341 08 Steel
111 | Warner Bros.
Weelinghouse. Electrio
WOHL VAU PUID & Paper
3056 | Woolworkh
Compactness of the nine- 563 ounce disposable bolilo is ex-
pected to be of particular Inter-in sterling per long ton pa fol-
pro meronty in an economy-Copper typo container,
are restricted to, aboist 25 lbs Lead and half
214, while opaque :-containers don t Dea
33%|| flaske or, fragile, ceraiple Juppies, zina znd half :
made adeétifite Inspection Im- |Bept. posible--Chiria Mall Special,
Deo.
Duyers sellers
001 803
United - Přeší,
13.18
TYPHOON MAP
with revised codes in force as from
1st April, 1956.
$5.00 MOUNTED
South China Morning Post Ltd.
HONG KONG & KOWLOON
$4°INMOUNTED
t