Page
THE CHINA MAIL, THURSDAY, SEPTEMBER 28, 1957.
TRADE and COMMERCE SECTION
INCREASED PRODUCTIVITY URGED NEW YORK COTTON
Important For Continued Australian Industrial Expansion Says Council
By TERENCE DOWNEY
Canberra, Sept. 25.
A Ministry of Labour Advisory Council is trying to persuado Australian industrialists, both primary and secondary, to streamline production methods and increase productivity. Australia's prosperity and expansion since World War II has taken the edge off the desire of managements to achieve higher productivity, the Council believes. But, it adds, higher productivity is important to continued expansion.
The Council is a committee two-thirds of the national of top businessmen, facturers,
primary
manu-
producers end labour leaders, set up to Australian Govern- advise "Uie ment on employment, industrini relations, employée welfare and related industrial and economic mutters.
A Campaign
It has a standing committee
produclivity and is
ILS directed towards
on
com-
ducting
campaign to promote
higher productivity
in
Australia.
campaig 15 mainly management,
of persuasion
its
pamphlets Jays
Initiative In
the that Increasing pro
by means of pamphlets and other methods
and education. One of
product. ★ Defence,
:
pcr
which takes
cent
four nailonal product,
of the
★Production for expert at
priorn
of
competitive sufficient goods and services
to pay for Australian imports. This absorbs almost one-fifth
WORLD
RUBBER MARKETS
New York, Sept. 25.
of nafloral producilon and Rex. rubber futures today
the imports obtained are mainly of capital goods and which are 10 raw materials important for Australia's own production astd national development.
closed 13 points lower to five points higher with anies of 88 contracts.
Sept.
Nov.
capital
Jan.
Mar.
Krowing
May
July
further
Sept.
of Provision facilities for a
capital and population Investment for the development of a resources and raising of living standards Almost one- in the future. third management, because it
of the current through the
Australian production
development into the
maintenance facilities.
ductivity must primarily rest
with
effective
Is only exercise of the management'A responsiblilties in numerous individual undertakings, large
and small, private and public, that improvements in national productivity can be made.
By
The commitice
deines pro-
labour,
WALL STREET HONGKONG
.STOCK EXCHANGE
1.
Our Own Correspondent Business done on the Hong- kong Stock Exchange this morning HYTUMBLED proximately $407,000. Noon quotations and the morning's transactions:
shares Buyers BeBerm BANKS
FITC Bank
East Asia. INSURANCES Union
030
SHIPPING CO
Wheelock..
DOCKS, ETC. KC. What!.. Lock Provident
to
Raita
STOCKS LOSE
TWO BILLION
New York, Sept. 25.
Stocks plunged through their 1957 lows on heavy selling, then met support which lifted prices more than four points from the day's lows on
average.
The selling developed around mid-session after support for an extension of the Tuesday re- covery falled to
develop
Bireet
in early dealings. It was not unexpected in Wall- where
many had. predict ed a further test of the lows
Stock Exge.)
Mosab Iron Corp. Minnesota Mining Mission Development Monsanto Chemical Co. Montgomery Ward Motoros foc.
National Cash Tieg, "A" National Dary Prod.
| National Lead
New York Ceutral
a prerequisite to any sustain | Norfolk, & Western ed recovery.
2014 856 35 6 270
10 @ 90
7.70
350 7 7.83
330 1,500
122
11
11.00 1.10
LAND, ETC. HK Hotel TIK Land
14.78 14.00
3441 0445
|
1600 u 34
200 at 3416
Humphreys RUBBER Amalg UTILITIES Tran Yaumeil
13.00 16.30
1.50
102 183
R
C. Light
1815 18.70
29.00
20.67
(RA) 1245
29.25
20,25
21,24
Electric
27.90
20,23 23.25
Tel.
27
INDUSTRIALS Cement
28.40
+
Amoy Can
STORES, ETC.
20.00
Dairy
3515 0.60 18.90
20,07
WeLion
20.25
20.25
22.23
20233
23 35
Standard rontract closed 15 points lower to five points higher with no sales reported,
goes
gept.
Nov.
and
Jan.
of capital
MAY.
May
July
Sept.
Rapid Progress
An increase of
of these
September liquidation weighed on the nearby months while productivity later positions were relatively ductivity as the ratio between would mean that more goods steady. London was an ac- the output of
und and Koods
services could be devoted credited buyer of actuals here services and the resources, such to
major supposedly ony one.
covering against capital,
necessarily sales abroad to Russia and cor land, objectives without equipment, skill and so on taking away from the others,tinental buyers.
Shipment offerings were in good supply with reported sales including one sheats at 284 up 10 29 rents
a pound, cost and freight. Offerings vamo from Singapore, Thailand and Ceylon Domestic factory interest continued slow. Spot No. 1 Rss was quoted at 29 cents.
used in producing thera. Cirenter productivity menns that output grows faster than the resources used.
Don't Confuse
same
the committce sild, thus allow- ing a more rapid progress to- wards achieving individual and natlonui objectives,
willingness
SINGAPORE
The market opened slightly beller but eased slightly on lack of support,
The sell-off came on volume which
put reporting Uckern several minutes behind floor 000 14.00 transactions at the close and
500 G 14.10 200
170 a 23 400 101
boosted over in the final hour close to a million shares.
Qua Mathieson
Ot Elemtons
2411
4516200
HAS ANOTHER
SLOW
SESSION
New York, Sept. 25.
Cotton Futures today see-sawed narrowly in
another slow session.
Prices submerged just below the previous close in Initial dealings and remained there
for the rest of the day. LONDON
Closing near the day's lowest
levels the list ruled unchanged to oft ten points. The turket opened up one ls of three points. New Orleans closed off) four to eight points.
Evening-up
BECOMES
ACTIVE
Evening-up operationa de Stock
in
87% veloped
the October de- Alivery along with routine trede hedgo selling in
London, Sept. 25. markets went all
gay today; turnover of 10,678 bargains recorded, was the highest since the series oi crashes in Government stocks In
106
23uying and
501
later months.
Other
Oxford per
Owen-Duinod Glam
tradere marked time other awaiting crop news or
33%
Paciile Gas & Elec,
4511
Pan American Airways
Paramount Pictures
3311
fresh incentives. Some trans- ferred attention to securities and other commodity markets.
July.
Parke Davis Co.
No
Penny J. C. Cɔ,
Penn. Sail Co.
Philip Morfi
Procter & Gamble Co. Jalos volume, nevertheless. Pittsburgh Plate Glaes Ingged 70,000 shares behind | Tubiteker Industries Tursday
Pure Oil al 2,770,000 shares. Radio Corporation
nabile Steel
There were 1,199 issues traded
740 i 18.40 † and 387 of these were lower 1000301 with 324 setting new lows for 1800 18.60
1000 18.60 the year or longer.
360 401240
300 $235
500 13.60
04 27.60
200
27.90
3449 28
202 17 20.00
1000 27
Individual Issues
4
Declines in Individua? issues
200 banged past five points at the
lowa, more
than three at the
close. Overall market values
124 500 11.30 were cut more than two billion
on the day".
Wide losses were sufferet in blue chips issues such as
Reynolds Metal
Government stocks were
transferable notices op- | rather inactive but Wor Loan peared against the October con- rose 4 to 64 compared with Piffract on the second tender day, its recent all-time low of £60.
Open contracts today totalled 67,300 bales. The certifeated stock remained at 3,321 bales. Month
Volume Open interest
-
NEW YORK
1,400
STEP
Oct.
0.000
17,300
1712
4015 Dec.
12,700
201,400
Mor
8,100
107,700
Shell OR CO.
S Roebuck & Co,
201
May
48,900
177,000
138
Saint Reg. Paper
지
July
120.000
7,800
108,000
Sinclair Oil
BE
Bogony Mobiloli
1,000
20,100
12
Mar
Solar Aircraft
Total
63,200
South Puerto Rico Sugar,
Southern Co. (The)
Southern National Gas
3746
Prices
closed today as follows;
Spot
Oct
Standard Oll of Ind
Dec.
Steep Rock (Toronto Duc.j
Mar
Sterling Drug Co.
May
Stokely-Van Camp,
July
Studebaker Packard Corp.
Oct.
10%
Déc.
Mar
Bouth Raliway (Com.) Standard Brands
Standard Oll of Cal.
Standard Oil of NJ.
Sunshine Mining Swift & Co. Texas Co.
CHICAGO GRAIN American Telephone which felt Tids Water Asen. Oll
MARKET
nearly two points to a new low for the year; then recovered Tho helt way.
olis, steels motors, chemicals, aircrafts and rells all were hard hit.
averages, Industrials
Measured by the Dow Jones were off 5.92 at 450.93, their lowest since Feb. 12; ralls off 241 to 122.63, lowest since
utilities Nov. 5. 1934;
62 to 66.81, lowest since Nov.
Time Inc
Union Paeiße Railway
United Aircraft
United Gas Corp.
Old Consols were unchanged at £46-10-0 compared with their 1957 low of £48.
EDGED UP
Industrials all edged upward by Od or d but the few leading Lisucs which had contrived to 298,100 talen | rise as much as 2/- all rufered selling just before the close and closed with net gains of a shilling
C. A. Parsons neglected at 64/-, ex-dividend, compared with its recent low of 52/- and its 1957 high of 7.16.
of cotton - futures
34.550
33.38
33.08
0424
34.20
33.75
NEW ORLEANS Prices of cation futures closed today as follows:
T'extrem ine,
Twenty Century Fox Fini
Spot
33.00
Union Carbide
33.33
Urdon 08 of Cal
Mor
334.20
May
34.23
July
22.70
Dec.
32.71
2544
Mar
32,73
LIVERPOOL
Cotton
future closings,
14214
Old contract
50
Oct/Nov,
103%
US. Fell "B"
US, Cyprum
ü.8. Line Co.
US. Rubber
U.B. Steel
U.S. Smelting
US Steel. pt. pt.
of
Warner Bros.
Chicago, Sept. 25:~~ Increased liquidation and selling closed grain futures lower today in moderate activity on the Board of Trade.
Westinghouse Electric Western Union Tel. Co." 30, 1958 and the 65 stocks off West Va. Pulp & Paper Favourable weather and crop 2.15 at 156.31, lowest since May Woolworth news, slow and
domestic demand 17, 1855. núlet forelim trading attracted liquidation and selling. NY Stock Exchange bond The declines brought short volume was $5,361,000. covering inter in the session but only small fractions the early
American Stock losses were July wheat and rye, volume was 970,000 shares. May and July soybeans and December and July com.
In the eroon steadied on trada buying against orders to Chinn. There was a fair interest for lower grades. Futures: No. 1 rubber per lb. Oct. 8216-8315 coatrąct showing the greatest
Nov. 8311-84 weakriess.
9112-8115 01-0112 7014-7015 02-0214 7016-2015
Commission house and local! selling were the main influences in wheat declines with the July
of
to
14
No. 2 rubber per 1. Det. No. 3
The Committee believes that there is no single way by which Australian Industry can achieve This is not to be confused
Modus better productivity. with greater production which which
used can be
included the is not necessarily thing as greater productivity, more intensive use of existing Introduction of more the committee says. More plant,
widespread plant, more resources or more efforts might now have been used to obtain the study of work methods, belter tracing of management and greater production.
technicians, more effective use Bigher national productivity of the labour force, Introduction Incentive must be sought through higher of properly planned productivity
and improvement Individual schemer In enterprises and organisations, management-labour relations,
effelency, lower with treater by greater
similar accept changes. costs, less waste and
The initiative in increasing moves.
resis with man- Australia's prosperity has productivity
this connot be operated against acceptance of agement, but
successful unless The trade the Iden that productivity union movement and employees should be increased a more
generally are prepared to Tapid rate.
The rubber market was quiet recognise that
they too have after steady with spot quoted at for Increusing 24% pence per lb. Prices absence responsibilities
No. 1 Rsa Sput
243-25 war years of any compeling The most authoritative body Setticinent house term:
Wheat closed off 1 to 1% Nov.
2414-25 cents for new and off 1 cent for need for солеста
trade anton with proof tre Australian
Dee.
2512-2013 the Australian Jur/Mar ductivity," the committee says movement,
23-25 old. Soybeans closed off 17% to
3% cents, "We have not Council of Trade Uslons, the Apr/Jute
2014-201 July/Sept been faced with the circum-Commitice includes, has already Ceneral markets, cif basis, poring
25-2015 Wheat, old contract wide- given the lead in
Oct. stances that prompted
2312-744 repeated
Nov.
2435-2415 campaigns public endorsement of the need spread productivity
Dec.
£-251 Astate crepe thin Oct.
There has been an
In Australia during the past productivity.
in a pamphlet.
In Europe-precarious national for and the advantages of economies, Involving insecurity higher productivity and of the employees to be both of food supplies and em-necessity ployment, the need to restore prep
to preparod
accept properly national prestige and fears for planned changes in inethods the future."
Not Apparent
No. 4 Spot rubber unbated' Blanket crepe ................. No. 1 rubber pale crepe..
LONDON
2.38 done
Favourable weather helped
move soybeans contracts down more than two cents
bushel, Selling was attracted by the failure of expected frosts to develop over northern svetions of the soybeans area.
Foreign demand was slow.
210-4.
401%
United Press
Exchange New York Sugar
Market
Closing Prices
Alden Ine, key. Allied Chemical Allied Mills Inc. Allis Chalmers American Aitilne
American Cable & hadio
Corp. American Cyanamide Co. Amer, & Forīn. Power Am. Brake Shoe Am. Gas & Electric Am Mach. & F'úry,
American Metal
American Bretting Am. Sugar Ret. Amerkan Tel & Tel Amerie Tob, "" Anaconda Copper Armco Steel Arrrur
Alas Cote. Mining Baldwin-Liman-fla:t). Ballimore & Onio Beneficial Finance Bendix Aviation Corp. Benguet Cong.
Bethlehem Steel
Borden (The) Co.
Burroughs Aɗd Mathina Campbell Soup Co. Canadian Pacific R. 100% Caso (J. 1.) Co.
120%-
123
Cat. Tractor
Celanese Corp.
C. I. T. Financial Corp.
Chose Manhal
Bank
Chrysler Motors.....
Climax Molybdenum Cluett Peabody
| Colgate-Palmolive Co.
Colombian Carbon Co, Commercial Credit Commonwealth
Elec.
Consolidated Edison
Dec. Wheat, new contruct
Яpat Fee 211 210(1)''
210
thick Oct.
Mar
213n 21814 20
Boeing Airplane
May
Į
AMSTERDAM
July
Com, No. 2, yellow
and processes,
individual
unions
06 and
have their
The rubber market was steady, Prices closed in guilders per kilogram, elf October as follows:
Spok
Dec
Mar.
May
| leaders,—China Mail Special,
No. 1 rubber
July
No. 2 Tubber
2.37 donc
Ryo
Ha a rubber
3,35 buyerm
2.67 buyers
Dec.
13715-2
United Press.
Mar
131)
Onts
Des. Mar
053%
0711
New York Foreign Exchange
Soybeans, No. 2, yellow
Spol
An
Cuban Amer. Sugar
Doc.
MRT.
MAY
27034-228 23233 23511-233
July
New York, Sept. 25.
Sept.
on Lead
Sept Oct. Sept.
Closing rates wert:
Barley
13.35b ungunted
Canada
1.00 7/32
Społ
England official
273 16/10
New York flour
9,401
*
30-days
2.77%
126-133
$13.501
0.456
24.300
Australia
90-days
2.70
Oct. Bent. Oct.
24.273
New Zealand
91.356
Bouth Afri
02.201
Belgium
Unlled Press.
Inici
22314 2.77 16/10 2.79 8/10 0100%
2000
Futures
ns
23- 2361-1
| Conunental Oil of Del,
Crown Zeilerbach
Diamond Alkni
Diamond Match
Douglas Aferaft
Dow Chemicals
Dupont de Nemours
Eastern Airline
New York, Sept. 25. 29 World No. 4 sugar futures closed today six to 36 points higher with sales of 436 contracts.
The domestic No. 6 contract unchanged to one point lower with males of 35 contracts.
Covering in the October de- Livery featured a moderate trade in the
contract. world The market derived additional the strength from
reports Cuban Sugar Institute may take an additional transfer of world export quota sugar to the US retained
quota if the world price structure does not improve.
Contract No. 4 (world)
pence per lb, were as follows.
Mar/Apr.
May/June
July/Aug. New contract
Oct/Nov
Dec/Jan. Mar/Apr.
May/June
July/Aug
2000
20.01
29.72
26.13
20.40
BAO PAULO Cotton Juture closings,
cruzeiros per Kilo were
follows:
Oct.
Deg
Mar.
May
39.00 30.40
OT 1910.
FULD
Oils were moderately highe though they did not escape the last-minute soiling. Royal Dutch gained and held 6/- and Shell Transport gained and held 9/- but the other leaders between 1 and 2 shillings.
rose
Japanese, were buoyant with the non-assesteds up between 1 and 11⁄2 sterling and several nasenteds up or 1 sterling. Gerrans and Young Loans notr
gained 1⁄4 sterling. intssenteda
Premium for dollar stocks rose 2 to 12 per cent.-United Press.
in
ロラ
In the United States, the average price of oue-inch cotton
14 designated spot markels was 33.20 cents. Toisi sales were 25,224 boles.United Presa.
SINGAPORE STOCKS
Singapore, Sept. 25. Brokers today
quoted the following 'stock prices,
Opening Bates Lintang Rubber Cu.
$2.03 British Borneo Petroleum
Byndicate
*****........ 547- Consolidated
Sanelton
337- Neave Lid Ord 2.70 Fraser & Heave 794%%% cum.
pret
$4.05 4.04
Cranknotur (Milayu) Limited. 1993; 348-81 Tongling & Shanghal 3.07
Banking Corp.
Ord.
Fromar
4.55-37
$460
1/736 $1,95
Lunas Dabber Estates Lid. $1.05
Out.
Jor
40%
May
July
3.00
Hongkong TM LE
Sept.
Kumpas t
Oct.
Kuala Kampir Tin
Epot-cente
Cube)
per 3b, ob
Malayan Freweries .........
073%
Open interest: 5,340 contracts.
Contruct No, 6 (domesito)
New Berandah Rübber Co.
Ltd. (cumdiv)
$3.60
Petaling Tin Ita
(3.29
Raffles Hotel
WATC
Nov.
1.54
Sagapore Cold Storage
11.04
Mar.
N.44
Straits Trading
13.22)
MAY
5,40
Straits Steamship
July
150
Bent
Weare Bros.
United Engineers Ord.
$7.00 01.32
Nov.
Spot-cents
per to cit
NY ex-duty}
3,57
Fly PAN
AMERICAN
world's most
experienced airline
to
EUROPE
and the
USA
For reservationi,
call your travel agent or Alexandra House, Phòne 37031,
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In Australls, living standards
have been rising, business New York Metal
and
national
expanding development proceeding at 11 high rate and the dangers besetting the continuance of these conditions are not readily bpparent, the pamphlet adds.
New York, Sept. 25. Prices of metal futures closed today in cenis per 16. "It is not generally realised follows: how much "they depend world prices for wool and con- tinuing good seasons; nor how Zina much
Oct. developmental projects Copper Sept.
nor
and production and employment
manufacturing
Industries Tin depend on Imported materials and capital equipment; how dependent is the fulfilment of our desires to enjoy a con- tinually
rising standard of Hving on the attainment of higher productivity,”
10
The claims which Australia. makes on its productive sources, the committee' said, include:
The Claims
London Metal Prices
London, Sept. 25. Prices of metal prices closed today in sterling per long ton ne follows:
Tin apot 3-month Personal consumption Copper spot
-month (trolüdling education and Lead and half sept.
Zine and half sept.
Dec.
ciher social services which mákon, up the --"gtandard of living", and which une op
Dec.
No. 1 crepe
Others unchanged. Unlied Pres.
London Foreign Exchange
London, Sept. 23.
Closing rates were:
New York Montreal
2.TB-2.401 2.03-2.5 10.03-10.
200 b. sack ***United Press.
WINNIPEG PRICES
Winnipeg, Sept. 23, Prices of grain futures closed today in cents per bushel 08 follower
Eastern Kalak
El Paso National Gas Family Finance Corp.
Firestone Tyre & Rubber Ford Motor
General Electro General Foods... General Motors
Gen. Pub, Usl. Getty oil
Glidden Co. Goodrich (B, E.) Co.
Goodyear Tyre
Gult on
Harden Newport Corp.
Homestaks hüining Co. Ingersoll-Band.
Inland Steel Co
Interchemical Corp.
int Business Machines ini'l Harvester
International. Nickel
1116-35 International Paper
Oats
Det
704%
Des
May
BAT
Rye
Oct. Dec
10316
100-
May Barley
Oct.
139.95-140.00 Dec.
19.30-19.30LG Mar
1-1119:113), FINKseed
7914 100
2012
191
1761-1152
Dalo
19.00-10.07
Pari
May
Stockholm
1996 || Zurich
Amsterdam
Brumels
Buyers Belle
73015 7003 Copenhagen
Frankfurt
Milan
DE!
-
27015
試:
II Tel &_ TN",
3. Ray Bourmolt
Jotai=bterrville Cu.
| Kaloor Industry
Karson C. Power & Light Kane Cloppar. Meymin Tob, Ca
Carmed whent exports: No. | Zowww" theorys, Ker
#3, nonuWA 1091⁄2 and No. b. Labs Star Caftans CV.
Others unchanged,mUnited Prosz. 1241⁄2 conta.United Press,
Lowettetala, &r Bories.
M4
interest: Open United Press.
072 contractades
Exchange Rates
Tuoted avem done in the local unonical exkhaqps : market
A mortsng as the following intoa:
U.B. der (per $1}
Sterling notar (per £1). Australen notes, (per £11. ***
Indonesian rupiah)(per 100) Blam licet (po 1005 Singapore (Stralb)
NAMESAKES
thin
Answer:-1 Team, 2 Athle- Lips, B Hockey, 4 Aubmulla, 5 Melbourne, a Ikitain, 7. High, 8 Sparta, a Olympiam 39 Arasis, 11 Field, 12 Helsinki, 13 Sundhan.
Thelma Hopicinë.
Cha
Mail Special.
PO
R.M.S. "CORFU”
SPECIAL NOTICE TO PASSENGERS
Due to weather conditions, the departure of the "ICORFU" has been postponed until 6.00 p.m., 20th September. Passengers may embark in the morningTM as originally arranged, and in any case should be on board by 5:00 p.th. ́ ́It' is regretted that luncheon cannot be provided for Visitors on board.