TRADE
THE CHINA MAIL," THURSDAY, OCTOBER 11, 1956,~
and
COMMERCE
Japan Afraid Of European
Free Trade Area
DELEGATES WILL OUTLINE
CASE AGAINST COMMON MARKET AT GATT MEETING
By RALPH HARRIS
Washington, Oct. 10.
Japan is expected to offer strong resistance to plans to create a limited free trade area covering a potential market of 250,000,000 people in Western Europe.
The Japanes
the protsed
will be litud
agnesk: group exactly how Japan's ex-
But am Kikaltal Agreement
If
which
2:105 10W
Western Eur would be affected by the e- fish market project
pur dive
2.
CONSTANT
01
Trade (GATT).
C Genev
IN
1
tung
It
Japest wal likely that register sitong farmal objeel, m by describing it as having effect of creating an "er i 11
diseri umanating biark mar-snumbers of the schirm-
2-1
planatie somzees here
lidity
Wat Che plat
dawn by the nati
404
Fraue
the
md!
13 אייר
Men stra groups
West Chinway.
Netherlands, Laxembourg
Not Most Favoured
Diplomatic tourens
150g ure W776 enusing Bessed
The
here
1
*
יווי !
GOLD PRICE
WORLD COTTON MARKETS
New York, Oct. 10. Cotton futures closed today two polat higher to 6 points lower. The market opened up 1 to off points. New Orleans closed up 8 to 9 points lower.
Volume and open interest on the Exchange today were:
Volume Open interest
17,800
WORLD
RUBBER MARKETS
New York, Oct, 10. The No. 1 Rss rubber futures contract today closed 20 points
with sales higher contracta
December
of
two
$2.50
The rex contract closed 20 lo 35 points higher with sales of 144 contracts.
November January March
May
Month
Oct
1,900
Dec.
32,000
409.000
Mar
15.200
415,700
May
16,800
$73,300
July
Jdy
12,300
142.690
September
Chet
10,600
97,100
November
Dea
6.300 -.60,400
Mar.
1,600
1000
Total
31.84
รร มน
31.30
0:00
30.10
23.00
SECTION
US GRAIN
ESTIMATE
Washington, Oet, 10.
The US Archeulture Department today estimaledi the 1850 corn crop 8,309,102,000 bushela.
at
The corn forecast Just WAS 3.335,730,000 hela,
Dompared 3,610,000,000 bushels pro- Quoed
in 1948.
up
The Reporting Board estimated the 1956 wheat orop så 075,517,000 bushels
st
of 721,940,000 made bushels of winter wheat and 253,571.000 bushels of spring wheat. The winter wheat climate
PELIO MA last month when the crop
harvested. The
Pare
Austria Endeavouring To Safeguard Financial Stability
Vienna, Oct. 10.
Diverse business trends and price wage tension are the main characteristics of the present state of the Austrian economy, the Institute for Economic Research has said here in its latest monthly report. The report calls for effective measures to "safeguard the financial stability."
thun reported that schillings leas
the especially the before,
Prices continued to rise. still
The
The Institute many branches.
building
booming.
Industry, Others.
virtually spring compares with last month's forecasts
wheat estimate
year
of 244,028,000 bushels
farmors Lans harvested 3,241,536,000 of corn.-United
bushels
21,000 1,473,000 bales
LIVERPOOL
Future closings, in pence per
lb, were a follows:
Old contract
The standard contract closed
20 to 30 points higher with no sales reported.
December
I'ress.
September November
3235
31.50
31 10
50 60
20.10
29.00
Prices firmed in company 24.10 with London, but otherwise the elfuntion was quiet and feature-
less. Bigre of a reviving factory: interest in the delivered market added encouragement, but con Armation of actual sales to co sumers was locking. Altogether. most interest contred in the out- come of the final game of the I Iss world series, Spot No. was quoted
32% nominally centa,
March
May
Judy
Oct/Nov.
29.10
Dec/Jan
ક્રમ
New contract
Mar/Apr. May/June July/Aug. Oct/Nov Dac./Ja Mar/Apr.
24.06 2478
25.58 25.01
74.85
May/June
3479
July/Aug
Egyptian Karnak Nov./Dec
24 71 60.00
SAO PAULO
-
Д
15.list
in
է. -
Toronto, Oct. 10. The latest refusal of the Inter- year's US at this national Monetary Fund Mecting to raise the official price of gold has been less
In the US the average spl વર્ષ disappointment to
Sales www 33.21 prine Canadian gold producersalled 48,410 de as well as than
former
extend most a treatment
Fulwe
in cruzeiros closings. per kilo were as follows:
37.60
Cit
Doc
Mar
40.00
May
39,15
July
39 70
cs.
years,
KARACHI
deep any in of any Jiguati, movement towards a free fiel
reles, which beeved the scheine unight
serious effect on Japan's trade with the Continent
Fears Intensified
Japanese feats are bring tensilled by the disclosure
11-
that
strengthening
rut trade
iver
Britain examining the pusste billy political
area has also killed off Japan's hopes for the removal of dis- aderady Priminatory
14 GATT applied by
12 against Jamiese exports
When Japan was admitted t GATT Lt year The 14 ber's mcluding monwealth nations. Serve embels Feftised
at the Mess mining sources report.
Soldar y
fax red ration with Western Europe by pining Japanese-made gala the proposed free trade aces.
the hal understood Japanese delegation in the GATT
15
conference
to ascertain fram
bern
it was felt tunt mal eins pres paring to move wilo a er pumunta
were unitely sources market scheune
to agree to abandon this pesas i drudy The Messa ott Chino Maid Special
Wall Street Makes Last Minute
Strength
Show Of
New York, Oct. 10.
Stocks staged a surprising show of strength in the final minutes of trading today which boosted values of all listed shares close to 2 billion.
Steela, metals, chemicals, oils Pedanese Parga
.d motors featured the rise. Turnover today was sites to
the Anal tall bour
when
460,000-shore valune lifted the
Hola a the day
Fatarelal Corp Chime Maisha Bank
Euryale Motors Clusas Molybdendru ammereta) Predt Sombowenlth Nee
1,420.000 plated alon
shures from 1220,000 ye furday Continental Out of Del
Thr-year kry,
Incititul
sharply
with
their
Crane Cr
ForeCuben Adier Sugar
average
elimbing 15 points reflecting gains of 2% points in Bethlehem
US Steel; 1
in General
Sire], !,
Chrysler,
Motors.
לחץ כאן
Rail enins ranged to 1% points In Southern Railway, in New York Central, and their average climbed 14.
1,080 Issues Traded
There were 1,080 issue traded with 602 higher, 251 lower,
Moving up in steels along with Bethlehem and US Steel were: Young town Sheel & Tube, up Crucible Armeo and
Over 3, around 2 higher,
Metal shares had gains rang
ing to 5 points in Reynolds over
3 In Alcoa, more than 2
Kasiser Aluminium.
Darmond Alkali Dow Chemicals
Dipent de Nemours
Koduk
El Paso Nallottal Gus
Erie Radioasă
Family Funer Carp
Ford Mol
General Etretnie General Fo
General Muten-
Pub
Gen
Goodrich B
Heyden Chernies)
Bonitake Mining L'o
Jesland Steel Co
Interchemiend Corp
trit Business Macturies
Int'l Harvester International Nickel Int'l Tel & Tel Julva-Marwille to Kinnewidt Popper Lasterit Meyern” Tul Lockheed Airesult Lnews Inop
Lone Star ensent Co
Landisville & Nashville it
Lowenstein & Hong
It
Metabi Run Corp
Gulf climbed more tun 2 to Crescent Corp.. feature oils. however, fell
4 on realising after its five-for-one stock split been annonactment which had
discounted in recent seriomis.
New York Stock Exchage bond volume was $3,200,000.
American Stock Exchange volume was 040,000 shares.
Dow Jones
vere!
30 Industrials
20 rails
28 utilities
65 #tocks
40 bonds
closing averages
Comm. future price index Comm. apot price Index Moody's Index
Closing Prices
Alden Inc. Acy.
Milled Chemicals
Allied Mills Inc.
Allis Chalmers
American Airline'
American Cyanamide Co.
Miner & Foreign Power
Am Mach, & dry,
American Cable & Radio Corp.
American Metal American melting American Tel & American Toh.
Anaconda Copper Armour UDARAK, Atlas Con Minine Bakhitrea-Emers Baltimore & Ohio Bender Aviation Corgi, szechielem MAKE
Blowing Airplane kompen Burroughs Add Machine Canadian Pacific R......
GYN, Traator
Minne la Mining
Misia Development
Moremito Chensient Ca
Montgomery Ward
Motorola Ine National Car Rest "A" National Dairy Prod National Lead
New York "entral Olin Mathheatres
Ou Elevator
Owen Ubaota Gines
Pacific Gas & Elec,
Pan American Airways Paramount Pictures Penny J. C. Co. Fenn, Sall Co, Philip Morin 487.24 Procter & Gamble Co. 109.48 Pittsburgh Plato Glass 66.30 Publieker IndustrĪCE 172.00 Pure Dil
17
52. 74'.
724.
RE.
15.
have
Cu it waDO
16.00
en-
SINGAPORE
HONGKONG STOCK EXCHANGE
arc
yenr
Out such as the of 83 kinds of goods contained index of Automotive, chemical and elee- in the cost-of-living tric Industries, have been forced the Institute, 28 became to curb production and to dis-expensive and only seven
caine cheaper. miss workers.
The cost of living index mid-August was 2.8 per cent higher than in mid-Augiest, TUNS,
ay be judged,
wage tensions
more be
it
Weekly net wages In Vienna were 13 per cant higher 201 July 1958 than in July 1955.
Boom Period
It is said that these signs of weakness probably result from gradual saturation cf the market or a shift la demand. The conspicuous recess orders in the field of capital goods production, however, may Indicate a decline to economie activity on a broad front; but. outlook
of however the economie
In the period
Peonopic the slight present price- expansion,
upward may
at uny rate trend of prices stimulated pro
the d- necessitate effective measures to durtita end tell tale) safeguard financial stability Injustment of domestic pries Austria.
the world market level.
In a buum period, however. dangerou price increases because they lose their sthnulni- Bw incas done on the Hong-
ing effects in production. Under Stock kong
this Exchange
Industrial production in these circumstance. It appears
four Was morning amounted to approxi- | second quarter
necessary to re-introduce cau- Noon quota cent higher than in the corre- mately $410,000,
tious noney and eredu polleles, The Institute recommended tions and the morning's lean-sponding period of 1955.
The situation in the basic in its report-China Mall Special.
bul dustries is still favourable, production has been increasing only slowly beenuse of a lar of capac!- reaching utilisation lies.
(From Our Correspondant)
The market gased after open-actions: ing un come Federation selling, bul when this had been absorbed it steadied on trado BANKS demand.
There was good enquiry for low grades but sellers were re- scrved and only small business Lunbard
SHOPPING Was dece Prices in Strats Wheelbeks cents per lb., Dob Malayan ports were as follows:
Sharea
Buyers Relters
Balen
NK Bank INSURANCES USH
1030 1040
20 st 1000
001000
42
10 Ks. Ere.
K Whart Dock
Provident
8.03 0.10
14 45). 13.90
GOD + 100
100 DG
No. 1 Re
LAND, ETC.
Oct.
15.40
Nov
043
000 00 6435
18/3
Dec.
78
No. 1 Rs Oct.
No. 3 Rs Oct
1,323
10
No. Ras Oct.
1.53 12,000 4, 180
10.000
naw RA
80
Spot rubber unbaked
1244-2
1.50 1.00
-United Prem.
Blanket grepe ...
73-70
UTILITIES
No. 1 pale crede
113-117
Tram
23.00 23.00
300
LONDON
Star Ferry Yaumati
142
144 100
23.70 141
110
The market was fully steady been The
produces
well supported by making IT
Civersity
by local mills operations to strengthen extensive fixings
Hul industry wing to their short stocks and positions
Foreign still lateness of crop. say that many believe that eventuallyquiry was absent excepting occ:- onal deals with Jugan. Prices the price will be boosted,
In rupees per maund are us ahead with They are going their xploration and develop follows.
programmes, and several mines are being prepared Some pto- production ducers are doing so well, in satile ouseTUA
new
fr
fact,
that
believe they are ready to in-
croase their
dividends. These
firme re those, which have
4-F Sind roller gi 239-Bind roller in
raw gin 210-Pubjab roller gin
pared their casty of roduction CHICAGO
by employing labour-saving
devices to improve proti ma
17 .
other
OTHER FIELDS
heids
Борь
Grain
GRAIN
MARKET
futures
0144-1
019-911
unqucted 9054-90% 821-83 0611-60
HK Hute! IK Land Beulty
RUBBER
Amote.
The market was quiet with spot down 1/18th to 20% pencu per lb. No. 1 Ass spot was quoted at 20% to 20% pence. Settlement house term:
Nov. Dec.
Jan./Mar.
Apr/June
of
Chicago, Oct, 10.
prices were However, most e mpanies inves
operations in mostly lower on the Board
Ker Trade today during quiet deal- well. extended their Addison Gold Mines, for exam- ings. ple, has expanded its operations * that its chenings are well over The della per share mark. The pany has been suggested as
the
of those which may be able to make their dividends.
Dane Mms is also favoured
This com quarters, has a first grade gold Dally
Red Lake, jarostnevn Ontario, area and her also ex- panded into oll and base metals. 033 Hollinger Gold Mines is now
Having a gʊxt portion of canings from sidiaria
ل النشر
199
July/Sept.
General markets, cit bonis
Oct
NOY.
Dec.
а
Batote crepe thin Oct. thick
TC-
Wheat futures maintained near steady tone during most of the session on buying influence un continued dry weather
Krum the southwestern wheat belt,
no fresh exporta were reported.
Exporters sald, however, that they were awaiting word from of more than Greece on offerts 2,000,000 bushels of US wheat.
Hedging h
profit-taking lion
shortly soybeans northern appeared in cested In
Al the start, Quebec, and higher dividends after the opening.
credited to firm- are believed likely.--China Mall buying was
nests in soybean oil, 310 Special,
3.1
201
271
Li
CANADIAN
POLICIES OUTDATED
Quebec, Oct. 10.
Canada's international
trade policies and controls
over
and
Wheat closed up to 1 cent; soybeans up to 1% cents. Prices per bushel in cS;
Closing prices
22410
Wheat, No. 2, red
Spot
Der, 220) 225
AMSTERDAM
4
C. Light (0) 4.00 23.20
C. Light (N) 24.20 Electric
Macau E Telephone 2016-201 (0) ......
2611-20-% INDUSTRIALS
2012-2074
2014-20Cement
233-220
..
Itape ports: STORES, ETC. 203-20%Dalry XD.. 2016-20 Watson 2014-20% COTTONS
Nanyang INVESTMENTH Allked
347&
32
321.
9.20
23 23.20
24
38
30
13.20
16.50 15.80
T 45.75
Second Quarter
In the retail trade,
rurge
per
Bre
NAMESAKES
in
Aloween: 1 Verse. 2 Paris, 3 the City, 4 Romantic,
the up-
maleel ni
of sales beginning of the year has slow- Hiernan, ed down along with the lower | Boulevard, increase in the social product.
The balance of payments has
1200 13:10 improved
1000
500 R 25
1500 47 30
considerably,
national bank's net reserve)
gold and foreign
August amounted
million schillings.
the
10
5 Orray.
0
7
Hunchback,
13
! Tragedy,
10
Montmartre.
Vjetor Hugo
in
Wherever
10,000
currency to 1,300 mililor.
more than at the beginning of 325the year.
14 14.40 1500 14.20
7.00 1.33
A
1500) $7.50
The market was quiet. Prices New York Foreign
closed today in guilderS kilogram, elt Oct as follows:
No. nublar
No. 2 rubber
No. 3 rubber
No. 1 crepe
per
2.00 buyers
2.62 buyers
253 buyers
337 buyers
-United Press
London Stocks
Unable To
Hold Strength
Exchange
New York, Oct. 10. Closing rates were: Canada
England omcial
41
New Zealand Fouth Africa india Pakistan
91.02 2.78
Improvement
The favourable development of exports accounted for an im- provement of the trade balance. The foreign trade deficit in the second quarter was 232 million
New York Sugar Market
New York, Oct. 10. World No 4 suger futures to- day closed unchanged to 2 poltats lower with sales of six contraçin,
Domestic No B sugar Natures to one poin! closed unchanged higher with sales of 98 contracts.
30-day futuZON 20-day futures
World futures cased slightly with the raw market. Traders contracts awaited in domestic
market develop- 2.71-1/16 further 2.71-1/13ments.
2.771% 2.71
Contract No. 4 (world)
2000
Mar
1.23
2002
May
United Prem
Jelly
Sept
Bpot-teents per lb. tob Cuba)
London Foreign
Contract No. 6
Nov.
Feb,
Exchange
Mar
May
4.37
July
London, Oct, 10.
Sept.
A.GL
Nov.
Closing rates were:
2.781-278
Bpoi-fcents per . clf NY
ex-duty;
2.71-2.714%
10.635-10.63%
139,60-130.62
80,00-80.10
New York Montreal
London, Oct. 10. Stocks failed to muster Amsterdam
Mar
May
July
Sept,
229
Corn, No. 2, yellow
Spot
Dec.
131-132 1301-1
Mior
1400
any
May
143f
July
1451)
Sept
14441
15215
150%-
1scribed today as outdated Rye
3422
424 Manufacturers
物
173
He said the knit goods indus
Canada continued
40 creasing Imports from Britain.
Brussels
sustained strength Frankfurt and closed mixed on the Lisbon London Exchange today.
Milan Onko Paris
Olls were higher, pacer by Brockholm
Dutch
with a 'gain of Zurich
Royat
leaders about
Other were up one to three shillings in active dealings.
21.70%-10.70
1753-1754 19.00-10.905%
0333-9623 34.4013-14.48 12.336-12.231% United Press,
British Governments also NEW YORK METAL|
243-238 managed an advance-most of it
coming in the forenoon. War
Loan wos highlight, adding more than 2%.
FUTURES
New York, Oct, 10.
Prices of metal futures closed But industrial strarea moved today cs follows (in cents per narrowly and closed en un in-1b.); decisive
10.07 10.00b
importe
were
de-
Dec.
插
by Mr J. H. Heon, Pre-
Mar
103!
386sident of the Canadian Woollen and Knit Goods
On
Dee
Mar.
Associa .
Boybeans, No. 2, yellow
Spat
Notion.
Nov.
237-233
Jan.
Mar
84% Wy of
May
24744-248
304 suffer under
40
414 Japanose
Bat Canadian
the pressure
that and imports
wool producers of Bcloth were concerned about in-
of
July
24814
Barley,
Spot
130-143
New York four
200 lb. ck
$13.207
38
in
WINNIPEG GRAIN PRICES
84.
knitted
20
tically
Prices of grain futures closed
note. Some buying helped electrical issues pushed Load ahead, but changes elsewhere in were held to a few ponce either
Oct
Nov.
Oct.
BindAlr
40% whic
way
Zine
Nov. Oct.
Booony Mabliol
Bouth Puerto Rigo Sugar
28
per cent of the Canadian market
Foreign bonds also were idle, Copper Del. although speculation in Greck
Nov.
tvilted Press.
22
Southern Railway (Com)
Bleep Rock (Toronicex.)
21
1951, Mr Hoon Bald.
Oct
2276
Standard Brands
3730
| Standard Oil of Cal,
48
He spoke to 250 delegates of
and Knit the Woolien
Dee
791%
May
Goods
July
"
Rubber and to sherce" were neglected.
Standard Oil of. Ind.
72 annual
Manufacturers Association at its
conference hero.
Dollar stocks were marked
Rye
down in line with latest Wall
-Oct.
Street Kyela.---United Press.
281
Reuter.
Dec.
May
0031
July
Barley
Dee
Radio Corporation Republie Bleet 102.76 Reynolda Metal 410.40
boll Oll Co...
Paper
Saint
18 Southern National Cas
Standard Oil of NJ.
Sterling. Drug Co.
Budebaker-Packard Corp.
2 Bwitt & Co.
100% Texas CK TO
*} {Tide Water Ain, 01
8014
gwenly Century Fox Film
Union Carbide ...... 171 Union Facing Rellway
13% United Aircraft
50% 1.8. Poul
1.8. Gypsum 10795 Line Co
344. Rubber
ÜB. Breking 3414 W Pulp & Paper,
Woolworth
Canada had been
wiped out" by Japanese imports
Winnipeg, Oct. 10.
In the first half of this today in cents per bushel as
62 year British wool cloths held 40 follows:
compared with 30 per cent in Oats
Exchange Rates
unomical
wen done in the local excitatge markets Flaxseed
201 morning at the followig skies:==||
—United- Prsas...
U.B, deller (por. $1), Ptering notes, (pie#211 Aussian nolas: (per-ADRE
Indonesian rupiah (per 100) ... 1980
Button (pie(100)
bungapore (dizalia)
Dec.
seven per cents brought a gain] · of £1. མ་;
100.500
01.600 17.10b 15.07b
35.00b 34.855
LONDON METAL PRICES
London, Oct. 20. Prices of metals closed today LONDON SILVER in sterling pee long toned
follows:
PRICES
London
Tip spot
month Fend 1st
Oct 10: The price of liver was quoted Copper #pot today at 70% penco for
1994 | unach (4911⁄2 -- penca · Zőr: for
May
Wheat, No. 3,"aba No. 8 were
(against 2016 and 19 penca Zing 1st half
storday),#Uniună, Prém.
buyers Belleri
United Prea
you're going...
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