I TRADE
THE CHINA MAIL MONDAY, DECEMBER 24, 1956.
COMMERCE
Tanker Fleet Revision Pakistan's
US COST In America JAPANESE
OF LIVING RISES
Washington, Dec. 23.
A drastic increase in food prices has been a prime factor in the big jump in the cost of living since 1939,
government
statistics showed today.
hav
According to the umcial cont of living Index maintained the Bureau of Labean Statales food prices are up nearly
1939
timea inver
2
SUEZ CANAL
CRISIS
FORCES ISSUE
By JOHN MORKA
New York, Dec. 23. The Suez crisis and West Europe's urgent need for oil is forcing the United States to take a new look at its tanker lightly fleets.
The overall
indoor reached a scout bath
October
were
Clothing costa
1939 more than doubles their luval Rent, on the other hand, about 50 per cent. Were up The figures are based on the
"moderate
buying habits
income" city families.
الان
12
eating peter bls.
While ili special Middle Eust Emergency Committee
plans 10
cu- mnpa (MERC)
dinal critical tanker move. feed oil 12 Europe. ments to the US Government and private busy with compiles are
aimed
tonnage
posipulie fiziker daVOPSTORS and maka MELC's minimam goal of 600,000 barrels dully
shipments emergency
thut
much Estope dificult to attains"
of
to more
ON COBJRI would
their
Translated into purchasing power, the figures mean that the uverego city fumlly's dollar about 60 centy
worth of what
lung-runge projects
It will it would buy a 1939, buy only 41 cents worth of food
nd 40 cents in clothing.
Sharpest Rises
Developments
There were thos itulah fuck week;
The sharpest rises in the vot
living
fond and
And 121 clothing costs in particular took place during the World War 1!! and the postwar years.
cent
In the
1 yours from 1930 to 1950. the cost of living ruse 13 per cent, food prices 115 per cent, elith- ing prices 87 per
In the same period, the pur- chasing
power the COTIULIZIOT dollar dropped to venis it lame of 1039 prices, the tood dollar to 47 conis and the cloth- ing dollar to 34 comis.
58
Rant rose only 5 per cent between 1939 und 1046, mainly Uteruse of World War I rent controls. They clund 19 per being removed. They
20 climbed another
per cent batween 1950 and 1955-United Pros.
cont
US Steel Industry
Approaching Capacity
New Youk. Di
23
FIRMS
LICENSED
Quarterly Deficit
Karachi, Doc. 23. Pakistan's balance of Rayments for the quan fox July/September, 1998| showed a deficit of R 150,180,000, according to Manila, Dec. 23.
the Ministry of Financa Japanese Armps mayatement issued here. It now be licenced by the aid the deficit was mainly Securities and Ex-due to a seasonal decline change Commission to in the
do
in
the and
2
business Philippines, it was nounced last Friday.
an-
volume of exports substantial increase
in importe.
of raw Exports
Jule worth Rs.120,700,000 and Jute manių- facturers worth Rs 20.210,000 about half the accounted fox Pedro Tus500
total of foreign exchango carn- Ings from exports.
તુ શ ruling nnded down Friday Justice
said the Corporation Law does not prohibit enemy <> former enemy cerporations from doing business in the Pl.
་ད
statute or
SECTION
CHINA GLASS Year-End
.SALES
Tokyo, Dec. 23. China la 'making serious furoads into ** Japannee sheet glam sales to" Entmi, souroes sid
Industry today.
Japan's
sheet
to
Barina
year totalled about 30,000 cases, Hourets said, bui 19 for this
year only fifty casey have been shipped... United Fren
New Plant
Helps End Fog Menace
Rally
On Wall Street
New York, Dec. 23.
Stocks set off on a vigorous year-end rally in the final session of the past week after four days of irregularity.
The nat result for the week | operating around their, record was a rise of 2.30 points in the levels. Some dipped as planté industrial averago which closed were closing for the long holl at 494.38, a decline of 1.54 to day. Glowing prodictions vidre 183.70 in the rails, and a rive mode on the coming year's prog.
70
utilities at 67.00.
Last week the markot ran time the into trouble cach industrials got close to the 500 mark.
1
Helping to reduce "amog" is tax day mily came when
an improve-steeld
лош
Was
1
pects.
Reford output, la topo-. seen with profit margins some what shrimken.
Wall Stroot regards the cine rent price picture sa infidtioning. a sustaining ine fluence on the stock market.
Steels Higher
***Wall Street experts believed and as such tier time WOR Dear for attempted break-through of the vigorous 500 figure with year-end rally.
The
There were 1,417 igycs traded lightened and year- last week, exactly the same in which way not the only
end reinvestment was stepped in the previous week and one Britain's
smokeless fuel up. I was helped along by less than the total for a y plant st Wingerworth,
Ddar aftort covering in advance of the
ago. Of the 1,417" this past (Derbyshire), will four-day market holiday. Value of cotton manufactures
week, 507 advanced, 743 de its beneits
fell.
From showed exports
|clined and 105 `were unchanged, Trading Light This ment.
mounted to this recently opened £10,500,000
A total of så stocks mocho đếờ am 10: aware of any
four installation which with compared Rs.10,700,000,
look
Thighs while 207 made new lows, Trading executive Rs 10,430,000 fo
und is the the period years to construct
light whon they muniepal
Steel issues were higher in art of its type in the world prices were in a decline and il order at present in force which Appli/June, 1930 17 Cod 244,272 banelà
cognes daily 14,000,000 cubic picked up on the late recovery most instances, featured by the day musc ext utilh thun in dos 20," Mr Tusson said,
the East Mid- but not enough to improve volatile Lulens which netted 10. period feet of gas for At This would requiro December
the end of this
of innds and 1,400 tons of coke for over the previous week. Sales | points, Autog declined. → surplust Two of anultic lay
pro
"Accordingly" he added, "In | Pakistan had
averagod 2,252,915 shares daily were mixed and so were rails. duction
Continental domestic constapoliom Texas ofelds, it view 171
with of the ratification nud Rx870,000
dally in the Gains were noted in suguri, The coal at Wingerworth is against 2,362,209 added
countries. There was a effect
the OEEC mog
chemicals, cernents and algerättä, with
in such trented Japón
away that the preceding week. Th MEEC
Business
continued Many special lesties were kizung, eaty of peace with Japan and
United Press, Maritime recting tanker
there wing no muttcipal law 10,780,000 in the dollar area resultant solid fuels, used in the Europe, anno divert tankerS
there was a delict of Rs.30,070,- correct appliances give a heating favourable
of nearly" B0 per cent, it I East-Europe which prohibits believe 000 due mainly to reduce im- 31kddle trun the
home grates is estimated there is no legal objection to parts. The dedett with the run to Chall ports unless it is certain Suficient
was Rs.140,- oil will be the licensing ul corporations United Kingdom available there for loading"
Organised under Japanese 630,000. Oilmen, it adds, "say that a the namber of tankers are in Allintic Ocean or off Gibraltar where They can be directed back and South Africa, to pick up
East Oil, or Castwant to The Gulf pocis."
act One source
J11 these Larken must be Kiven their orders as quickly us possible. Notos the fournal of Commerce further
develop
Ther US Adnieustration sanctioned -lupping lines plans lu deild 27 new tunkers and Two bulk carriers,
2
alnost
The Gulf OR Company Pittsburgh, announced in
at an 11-tanker new feel will
double About
Corrying fleet's riginul
six capacity million barrels by 1981. Tankers aggregating 336.- 000 dendweight long have been ordered, making the currently una programme
of the biggest in the ol
Industry
will next
3. In Venezula, Standard
Oll Co. (NJ) said it construct over the Ave years 14 tanker 35,000-45,000 tona capacity
The tanker each.
Middle
which is now movements 10
Irritable
"Many
company prom ofduction ollicials countered West Texas Qilman's claims that set-up shippers of US crude to Europe ought to withdraw more from storage before the allowables are lifted.
lawa."
10
of
Gold, dollar and sterling re- Mr Tusson's
by Rs.129,340,000, opinion was serves foll Laterpreted by The Seturites but nevertheless the end of the anki Exchange Commission to first three quarters of this year mean
restoration of showed' a net increase in complete trade relations that existed serves of Rs.110,490,000 over the between Japan and the Fi bulance at the end of last year. before the war. - United Press, Chino Mah Spell
London Market
Fluctuates
London, Dec. 23.
ro-
has been prompted by the Suez crisis, officials said. One of the biggest tanker- "They said the stocks must
the building programmes
be made up sooner or later. I being wirid is
conducted by
Dutput is not lifted pipeline Stavros S. Niarchos Interesis.
espartly will KO down and
For sheer eccentricity this past week has not A tolal 4 30 ships are under
supplies available order
ulimately reduced."
been surpassed in 1956. The textbooks say that United States steel industry | construction
planard
world,
A higher price to should
crude the function of the market is to give us a picture Contrranging in size
could put independent refiners in a price squeeze, and the oll- of the economic faith some allowance for current Laughin¦ tons.
The Total value of these 30 to-Europe programme has Adsintal Corporations
politics, but this has groved difficult to do. in the neighbourhood of been B431 Motell 44 410
$15 million. The Industry's ends criticised on this American refiners
The Government put an extra ¡ demand for might not be able to
production #x yum approach capacity, ther mg ut Jones,
Steel
endi statemen
elated the blu
cliy
2
1957 at 3 and
120
The around
up to 100.000
per roleum Council submitted a Asport
saics
of
they Interior the A
·TECOPET uny price increase in pians | crudo outlining
through the The midlem Th pas ment Bon furs of NOTTIO
the world tanker deet refined products, mainly petrol, capacity, where tons higher than the
e increased by 20,000,000 stog
stocks of which oulput The actual this your. this year will tolul around 118 tans by the end of 1981. million tone,
arc
The and show no sigS OF TION
Stankors to curry luci oll
Capacity Is about
Prat 43,000,000 Lons,
The Council also pointed out that world tanker construction will have to be increased sub- muntially.
Admiral Mureelt added it was not prudent to look ahead more than six months, but there was every indication that the indus- try would produce steel at an unprecedented rate next year and Jones and Laughlis should get its short of this business.
Admital Morcell revealed that the company, the country's fourth biggest steel producer, stepped up its cost reduction and expansion programme for three Fears 1956/58 3320 million. This represents an Increase $90 million since last April,
give which is due partly to an exten- and programme sion of the partly to a rise in costs,China prion Mall Special.
Priorities
sicei
-
With Europe suffering shortage of petrol
wri
of
200,000
Kirc
to give between seven and 14 | per cent. "The coke being pro- duced moet the requirements of the Clean Air Aet" and the Eases untally discharged when coal is burnt are turned at the plant Into tar, benzole and im- portant chemicals for industry. The coal carbonised in the ovens provides all the power required to operate the plan which is thus self-sufficicat,
Mr Aubrey Jones, Minister of
the Fuel and Power, 'sală at opening that the Clean Air Act aimed at doing was not only away with "mog" but would help to
und secure economy efficiency in the use of fuel. Even with a rising output of coal in general, Jarge coal, used for the old fashioned open are which caused smoky air, was becoming scarcer. This made.
it important to նե modern open fires burning smaller coul and smokeless fuel
WEEKLY COTTON- REVIEW
the Royal Dutch-
tax
to on petról
New York, Dec, 23. discourage Shell group which lifted Royol
The local cotton goods use of motor cars but it then Dutch some 10s ki But British three shillings on the
and dropped Potroleum rose 28 d Turned around
market last week com- Suez Canal goined 11⁄2 sterling|pleted the third month of The purchase of moto -cars. week started with a shortage of to £54.
extremely quiet dealings. and
Continental selling of German Market experts went home und petrol and ended with a short Polash was severe. The 7 perdor the Christmas holidays TOM there age of fuel oll and petrol for the cent non-essented lost 311⁄2 sterk signed to the idea that the
are tankers to carry.
ing and the asserted 51⁄2 ster fourth quarter lull may extend to why
cents non- ing the 6% per
or unlif through mid-January, some
asspated lost, 5 sterling and the completion
of the invertory- assented 42 sterling But the taking activities. Dawes Loan gained 159 boil
Abres assented and non-asserted. The softening trend in burlap while
showed rises ranging Japanese from 1 to 2 sterling as did the que sisal prices strength- Chinese, also.
synthetic abres, prices dacron, firm as nylon, polyster übre, and acetate Ala-
prices were in ment yard
of
Improved Little
10
the rota 55 to 49 cent. Yol tarih | improved only a little.
suppl
Another pending decision will deal with question of granting the hard-
Prosperous Future
Hard
ened.
were
featured
Flow:
New York, Dec, 23, cotton exporta
by
The report is now being con- with prices higher sidered by high Cabinet und
American
refiners government officials now study-openly puzzled us they cannot sell off ing planes to speed tanker con-
their surplus stocks abroad. struction.
So far petrol exports to Europe have been negligible. As of Finally came the astonishing December 5, only, about 40,000 behaviour of Lancashire Cotton barrels a day have been moving which was formed many years
of England to Europe from the Gulf Coast, ago by the Bank
lot of cotton 10 about 350,086 amalgamating
crudo and
help redupo over companies of Defence The Once Mobliation was also expected
barrels of distillate from Lancashire's chronic disorder to
something like Baume source each day. of to announce this week a long-
order jumped
Old Consols and "Dallona"creasedUnited Press. the dividend up from the tradia awaited decision
will that it
Reports here emphasise the Local 124 per cent to 17%. This gained 155 and War Loan 11 construction
growing tanker
Irritability
Bethlehem had 3d. Demandi for the a time when earnings American ollmen with hard-to-gat
Steel on its prosperous future ip British increase
Industrials except for Lanca-ever-preberdus USA and this destination as reported in bales some points by the New York Cotton Ex- shire Cottons with its jump of Ufied the price Bs. 3d advanced Some
rather con- to 263 points peak this year is change for the 1956-57 season to
270-but other, stocks with note Dec. 18 were as follows: servatively. explanation
followings good But in reperat the well-known ably British Govern-
However, Industrils seldom rose-of fell | ground.
In general? for its tarla Inecesse
more than-a ahilling. Turnover the demand for American stocka problem of Leaker As an aftermath of the Suez
increased last weck, lifting the was small. considered closedown and the Europea Olls were disorderly from premio trom 6 per cent to for government unrest in Hungary and Poland, start to finish. There was a fair 7 per cent.-- United Press, Any
ons some observers are now. tor
looking concessions the tanker or the for D
In the US farm
The Wall ogramme. industries might well export similar
stract demands from
for xxxample, such 度 Industries
spending its dollars more and god rallway çarë.
for big more
ll and alter shortaija
of steel, notably of essentials, thus draining away plates, and construction sms funds normally spent for food The shortage of heavy plate and other commodities.
a gallon.
France
has
not copticki.
its
the
The Bank Of England pressed steel Industry special import duty.
Statement
lax write-olis in order to boost 18 taken to expansion and production of given by the erstical ¡terns,
ment The London, Dec. 23.
priorities The Bank of England state meat one nient for the week ended Dec.
authorities granted to Sterling 1,998,063,364 steel
Notes in circulation
.
19, 'rida as follows:
Public, deposita
Government
Receipts
Ratio
Privato Deposlis
Other securities
12.000.17 prompt
277,003,772
Securities 254,091,cas other
29,091,520 Pight now there te
30,322,122
10.4
United Press.
Jope will bo
that
The Perfect Gift for Christmas!
Britain
Orient
Continent
Canada
Total for mentori”
-305,161
1,197,844
643,707
430,909 2,20,100
Same period last year" 001,420
• excludkig intérs:
-United Press.
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الازمة
that American in crude.
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of crude and the
connued tran 1.710-300.045.000 tie up in the Suez Canal 2,065,285,281,937 Potential Threat
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