TRADE
THE CHINA-MAIL, MONDAY, DECEMBER 81, 1956.
COMIMALICE
SECTION
Continuation Of Age Of Plenty HONGKONG
In United States NEW YORK Free World
IMPELLED BY AUTOMATION
AND ATOMIC ENERGY
By JOHN MORKA
New York, Dec. 30.
The year 1957 promises to be a continuation of the age of plenty for America's 165 millions. Impelled by new horizons of atomic energy and automation, the US industrial juggernaut appears poised at year-end for what might well be its most productive effort in history.
There'll be more people working. They'll have more money to spend; and lots more leisure in which to indulge their And there'll be lots and lots of new gadgets every want. and trinkets to buy, ranging from pep-pills to build-your-own- with a-do-it-yourself kit and airconditioned chrome-beribboned cadillacs.
in the brvadı
Some experts figure The micex might be as high as 150 by next autumn.
4. Personal
Trans term, that';
your
how
America's
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year-end.
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ployment.
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7 Steel Output the year
2,000,000 at estimmte
About
of 1 1955 lead 117.080,000 Dar mainly to pro- dann irasses during the sum-
COTTON Leads Steel,
MARKET REVIEW
Production
New York, Dec. 30. The
non-Communist By WILLIAM T. PLUNKETT nations held a 3-to-1 edge in steel production over the New York, Dec. 30. Communist bloc, according Cotton futures edged up-to Iron Age, national metal- ward in a holiday week working weekly. shortened to threp sessions. A Friday's clore the lit ruled unchanged to 16 points. unchanged to 80 crats a bale higher than the preceding week.
Activity broadened in final
with solon
most of the ine concentrated interest
Spot Carby Murch delivery. interests were accrédited sellers
balex. Bup of around 50,000 posedly liquidation against spot cotton purchases
within
in
the
offerings trade in- accounts,
large-scale The wero taken up by terests and mill supposedly for year-end While covering operations. the business was being carried
March contract is out, the
Give point Bawed
nel range, finishing the week unchanged at 34 cents a pound. deliveries Interest in later stackened with activity in new erup months coming to a tall Next year's caput should run
at frequent long intervals. of about 151 tighlson:
u!yul Lincerlasty 126 million tons, with 113 16
katies that production government loan rate for
1937 crop, and the question of records
the prootter ('01)-
participation in
well iks keit in me Rems, 1 bank programme,
Jaľm legislationi when
Congress expected FOTOTYPETIEN, restrained untivity in deferred month.
an bably increase by about 100 mulboom and corporate, day slende i amer by over 103 million;
11
by
Feder
in valinys ing, promises to carry over inte, state and local" grovernments 1957 Surac
djustments. New peska in car! -
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veliberat
will experijerite some
Oil Industry
14
Will industrie
from these
Nothing
Take a
The out rachista y Some levellinged) Ekpaviment intenses an alergiatod
The Unite Brust, of 55 per cent 31 jobably during the evond balt +f the yout
121 14
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L
that
consulerakanu
at alone! Tware ament atrinkad.. Bugunte is pre
slump is expeled, however, just i pered to continue to the present
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Tetrajkredi
steminng manly to war ten
soons and the Starz Kanal anna when all the 1957 (gure-
J
Hey it be well ahead c 1906 secording to the consereaAIS
Forecast
high level next year Experts
A
» konur per vent tro
US demann
mara Mati Dance that an ound an
bed cothiling demand, The part of the Suez Canal Situation According To the Slaufard Oil Company New
S
Jersey), without the
Here what the expect you, Canal by the gex: fæelve months
the
w: 53
arch exporis
Iraq t:a"
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い
the per cent of
1050 domestic and export demand At the same time foreign des 10mand will increase lay
about
The
The gro nabonal product | Umied Ptotal value of all gooMİS Pervices printeed) wali u l- Diy show mu riprovement ove List your's, that, marking Light time in years that the nation's" volumu | the same amount. The general of braless chieved arw ! effect of the Suez Canal crisis la Deals Higher prices will prot to merense US exports of crude ably account for about haft f the 1957 perture
2. Amuren's indicies
in the future, are planting
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pend at t
than ko at Ads
*ke
set ties
will probably
R
Diy einstruction steel
and
... Dth of whetis are 11014
a dese
#Rubber
Rubber
Consumpliori
11
!
a obber 1958 in the US will be about 1,440,000 long
that
111
thaw
CONTRACTION
the the
Exports continued Io Tun Tolal well ahead of last year, clearances Cur the
season to te, 2.457.264 bajes, date reached
Glass 90,000 Tens
alt-me peak reached for about 3 times the volume 1953. according
4514
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L
to John clearest in the same period last
wondered
V. 5. and non-Communist countries poured an estimated 236.0 million Ingot tons of steel this year, compared with about 70.1 million tons produced Russla, China and other Soviet
bloc countries,
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- Stock Exchange this kong morning amounted to approxi- mately $474,000. Noon quota- tlons and the moning's trans-
uctions:
Shares
BANKS (K' Back East Asia
Buyeçı Sellers Bales
INSURANCES
--
Union
by
SHIPPING Wheelocks
U. S. steel production in 1936 will be about 116 million tons. 05 compared with a reported million tons for Russia. This is better than a 2-to-1 edge for the United States, a comedown from eight years ago, when the ratio was 4.75-to-1. The U. S. margin
is mill considerable, however-60 million tons.
Long range plons of the end- dominated countries call for 1 major boost in production. By IGO non-Communist ustions will have Ingot capacity of over 300 million tons. Soviel orbit nations have sel their sights on goal of 107 million tons during the same period.
This would give the West 73.7 ceni of world capacity, compared with 78.7 loday.
per
DOCKS, ETC K. Wharf Dock Provident
LAND, ETC HK Hotel HK Land Rexity.
RUBBER
1000 241
950
101003
1 B3
7.33 0.95
6000 IN 7.30
30000.000
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49
1000 $ 45
13 13.00
15 14.20 1500 15.10 31 013 800 0115 1.35 1.40 G000 1.25
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1.15 5000 N 1.321
UTILITIES Tram
23.40 23.00 1000 13:5
300 or 23.00
Star Forty Younau
(30 103
142
200 161
104
400 100
C. Light (0) 21.30 299a Electric
31 32
100 23.70
1000 6 3144 272 in 31 200 311.
Macau X Telephone
101 INI
PM
11 10 23 70
21
INDUSTRIALS. Cement
STORES KIC Dalry Watson
Due largely to the U. S. strike | COTTONS this summer.
steel production
in the West rose only 4 per cent over 1955, compared with a 10.7 per cent advance for the Soviet- bloc
nation, Percentagewise, the Communists' share of world
23 per output qe only from cent in 1953 to 24.4 per cent in 1956-on Increase of d.1 per cent.
the
Tile
Nanyang
INVESTMENTS
Yangtze Allied
• 3*,
S311, 1
11 410 1040 200 13 40 13:30
430
7 LO 2000 » 10:
►
400
Exchange Rates
WALL STREET MAKES LATE RECOVERY
By ELMER WALZER
New York, Dec. 30. Wall Street took last week's three trading days to put its financial houseg in order. There was a spurt in trading. Daily average volume rose to 2,556,946 shares, well up from the previous week's 2,252,915 shares, and the largest daily average since May 11 when it was 2,570,086 shares.
WAS 00
The net result
81⁄44 points.
Standard of Ohlo irregular gain. Industrials rose nearly 8. Demand for the closed the week at 496.41 up internationals reflected. begin- 2.03 on the week and up 23.03 ning of work in earnest to clear
the month of December; rolla 153.50 off 0.14 and up 1.87; utilities 68.32 up 0.87 and 1.91; and 38 stocks up 0.0 and up 6.20.
for
The
tho
Sucz Canal while the domestic group was bid up va a favourable outlook, for gala in 1987.
Individual strels were strong, which gained
There were 1,379 issues, traded advanced, 689 declined changed.
closed for notably Lakocha market wag
8% points. the Christmas holiday 00 Tuesday and on next Monday, It is a tradition in the financial of which 603
an open the day before New
district lo maintain
for
belated
year-end
market Year's trades.
Wall Street thinks they are
abou! cleaned up. It thought
and 188 held un- A total of 47 Issues made now highs for the year.)
The market failed to get through the 500-jevol agals and traders doubted it would do so decisively in the last remaining the same the week before and session, However,
many sald WILS wrong However, the the market was still in good market already has had some- physical condition and given a thing of a year-end rally-respite from evening up opera- good one for the Industrials and tions it might accomplish its utilities and a baby ong for the immediate objective of the aggard rails.
500-level in the Industrial department.United Press,
Rails Behind
well behind the Rolla were
To other sections on the year. date their average is down 9.78 points from the 1955 close while up 8.01 points and utiles up 3.18 points,
shares featured the 9.13 Ou
thin
Business was done in the local industrinis are
Trial
market exchange noring at the following rates:-
Sterling notes per £1 Australian notes (per £11 Indonesian rupiah (per 100; Slam teal (per 1005
{Strate Singapore
Most of the difference is re- wls for season. However, come quarters counted for in the decline of US dollat (per 1) rich Company. The outlook for wo
real U. S. production in 1958 amount- whether the current
maintained ing to 1.7 per cent from
previous year. Russia meanwhile Increased her production Irom 49. lots to 55′ million tons, an advance of 10.1 per cent, *C+
to cordinar
Iron Age-United Press.
HW -
on the
197 that the US will contigh rate evuld be SAP about 1.500.000 tons of in face of the contrariton In Stales could huvreuses us new ribber, win a chance final
Europea ilustrial nelavity muck 300,000 barrels daily. 11 and estably hi
best resulting from the fuel shortage. This forecast Opinions sumption record.
commenced is predicted on heavy consump-fifter
effect probable on by the American Motor of the
roli, bank programme. Vehicle production. At irast 01
conceded the его- per cent of total
new rubber Analysts
gramme may eliminate as much consumed in the US this year as four million acres from the WON domestically
⚫ produced
duced! 1957 allotment of 17.6 million man-made
rubbers. compared
However, it was felt a with 58.5 per cent In 1966 acres
will big part of the land going into. Usage of domestic rubber
may be the poorer, undoubtedly show further guins the bank
low-yielding acres, and that in 1957. World consumption of cultivation may be Intensified
the higher-yield land. United Pros
and products but lower ex- pet by a greater ammunt from ..the Middle East. deme. 9. Automobiles: The general
ils
[11
Thinking is
The industry will out about 500,000 ears next over an estimated 6,000,000
11856.
The Industry confidently about the Bible's acceptangs
of lis 1957 presidential elvetions nor models so far this year.
How-
ol Triks sprending, increa
panding plaas jak putant
Ward from 1950 Weather the
the Middle East cris, appeari
dave
my alley to can the
platis Major sebøduled na siyel, nun-ter 1982- metals venued, and petroleum
3 The Federal Reserve pros duction mtex will probably arasund $40 NY 1947. average compared with an estimated 143
units
tites
new
rubbers this year will set record of nearly 3,000,000 tons. 11 was estimated.
In addition, muny experts Lick for w-volume of retal sales over 1950; an increase in the accumulation of business inventories; a tre-
buying could give a better pleture us
་་་་་་
BUY!
In the industry's potential. Last mendous surge toward greuter year, some 79 million cars were industrial integration and auto- produced 2121 the industry : lat
mal4041: major advances in the suffered from a big inventory
of alomie energy. most of the year as consumers
US industry is plannst to falled to buy. The carryover has
ut feast 1.5 billion to spend whittled since been
10
more
develop oflee automation, and manageable proportions.
bithuns more will be spent in other fields to tut production rusts
US TEXTILE INDUSTRY
CONFIDENT
OF COMING YEAR
New York, Dec. 30.
The American textile industry stands at the threshold of the New Year with "measured confidence" provided the question of imports from the so-called low-wage countries is successfully resolved.
was
On
SWISS WATCH INDUSTRY BREAKS RECORD
Zurich, Switzerland,
Dec. 39 The Swiss watch industry has broken its 1955 export record of 1,076,999,379 trancs (US$251,387,-
The Bank Of France 054) by a slight margin, official
Statement
Paris, Dec. 30. The Bank of France stube..
ment for the week ended Dec. 20. reads as follows:
Total guld Total other currencies Sight balance abroad
In EPU
holdings
Franc 301,302,120,204 14,269,823 360
Many companies themselves caught SJUTZV.
now
In
And rost
Advance to Stabilian.
1km Fund Total bill discounted 1,702,613,044,475
40,166,100,000
67,100,000,000
Reduction
For some the only way out is joy some further reduction in production costs and that means more and more automa- Automation took ⚫ glont step forward in 1956, and much of the hue and ery against it has disappeared. Labour lead- implications
ers,
not
哧
automation, arc
threat to employment but
con-
still publicly fearful of the
a form of
of guaranteed pressing for
wage as a basis for new wage pacts. But some labour cede that the new technology is leaders, nonetheless, now 0-
offern just BS many-it not Industry spokesman, F. E. Grier, President, more-jobs. American Cotton Manufacturers Institute, Inc., In the field of atomic energy,
American made this forecast in a year-end summation of struction or received contracta
Industry began the textile industry and its problems.
of the building of 59 new nuclear reactors. In addition, to Manufacturers confidence in imports of Japanese-made
industry carried these projects. the future, he said,
previously de fabrics and apparel.
forward work on monstrated by an outlay of al-
awarded contracts for 17 Analysing the export-import most all kind of new equip picture, Grier said the outward actors of various types and
now of American-made sexilies completed construction
reactors which had been The backlog of unfilled orders was running at around 500 order. In 1956, Contracts for cotton goods ns the year | million yards a year. This would spproached a clore was equiva- be about tight per cent loss than signed to build 8 uranium ore milia, a foed lent to 11 weeks production. last year and would stand
ns processing 口感
6 nuclear fuel Volume of now business taken the lowest year's volume since materials plant,
element manufacturing planta 3 ziconium Conversely, he said, imports of and foreign made cloth from all facilities. In addition, 134 in- sources for the first nine month dustrial firms began using radio. were running about 58 per cent active isotopos for the first over the 1955 mark.
time, bringing the tolal of in The American Lexille mills, dustrial users in the United the cation farmers best cusioni-States to 121 firms. ors, Grier wminded,' : consumed cotton 0,059,000 bolew of rhw during the year ended October 31, compared
inants.
In October was the highest | 1942. total in several years. production #gures for 1950 are expected to show elight gain over the 10.1 billion yords of broad woven toods turned out in 1955.
of two
OIL,
WETE
7 critical fack production
ཐ་
General Mood
Volume Lower Another voto of confidence in what 1957 holds in store for the
with 8,977,000 Although the general mood in lodiatry come, in October when the Industry boosio extile bales in the preceding year, the US is one of conndence, wages 10 cents an hour. This pay Spencer, Chahman, Dur- with most manufacturers show- Lingston Industries, lauded the ing a good backing of unfilled of orders, heightened international the .only
after Indicated it would take stops, so steady progress and predicted tensions have introduced dow Seduce the "perlin, the industry
10 uncertainties, into the busines
outlook.United Press,
boost came, Grief emphasler listeys Reolle:
cord
but incomplete figures show.
The final 1958 figures, officials of the Swiss watch industry predicted, will be around 1,200,- 000,000 franes (US$280,820,000), while the number of exported watch units will have increased from 30,171,573 in 1955 to be tween 40,000,000 and 41,000,000 In 1958.
The officials attributed this Increuse of watch exports to more liberal imports practices on some markets and increased sales 133.689.006.277 propaganda on other markets.-- -United Press. United Press.
Bank noten in circu-
tation Current accounts and
deposits
2,902,200,475,000
ANNOUNCEMENT
WING LUNG BANK
We take pleasure to announce that as from 1st January, 1957 our business will be carried
the name of on under WING LUNG BANK, LIMITED which has been incorporated
to take over our business as a going concern under the same policy as at present,
December 31,
WING LUNG BANK
1956
100 market y a group on the up- 12.7a side. Gulf gained 7% in the 14.20 Internationis, Amerada featured
with a, rise of domestic 1.30 the
Happy New Year
from BOAC
ISH OVERSEAS1⁄2
NAMESAKES
Answers:-1 Shorthand Penell, 3 Reform, 4 Spelling 6 Sound.
6 Phrase. 7 Teach, 8. Vocabulary, 9 Phonography,
10 Dictate,
Invention, 12 Memoranda, 13 Change, 14 Diellonary.
Sir Isaac Pitman (Inventor of Shorthand).