ها را در جمل ما هي البرية الي الاول القسية بالصور في الداري معابد اما سالم اروا الا بال به سراير الم را باید ریشه مهره ها
THE CHINA MAIL, MONDAY, APRIL 7, 1958,
TRADE and COMMERCE SECTION
US Economy: Week's Review US COTTON A CEMENT INDUSTRY
The Slump Goes On Unabated, Sales Drop Lower
New York, April 6. The US economic slump continued unabated during this holiday-shortened business wook and even pre-Easter retail sales felt well behind those of last year. The only bright spot among the key indicators of economic activity was an upturn in new orders for machine tools for the second straight month, but even with the upturn the total orders were still about 6 per cent under those for the same 1957 period.
Recession developments:
government expenditures to re- verse the business slump. would
only serve
to Increuse the thus weaken Federal debt and the economy further. He urged tax increases to pay for stepped-up federal spending,
опу
Although exact figures were not yet available, a survey of 75 key retail stores through- out the US by the Wall Street only one-third Journal found
comparable with Easter solea to last year and only nine who
Cheering to foreign nations reported sales for the year
and Europe in particular-were date lupping the 1957 figure.
the repeated statements of West Economics Minister Auto sales turned down German Agam in mid-March after pick-Ladwig Erhard that he regard- ing up earlier
month, ed the US recession as only
"temporary phenomenon"
in the
to
according to figures just re- leaved. The nid-March dally average was down 3.7 per cent from the first 10 days, compared with an upturn of 7.5 per cent at the ramg polni list year. Deniers or stocks as of March 30 totalled 887,000, enough for days more than two months at pre-Washington officials and
is confidénge that the business slump, even if continued, would not necessarily spread to rest of the work..
gent selling rules.
the
NEW YORK THE TECHNOLOGICAL
COTTON MARKET
Now York, Apr. 6. Cotton futuros finished a haliday-shortened wook of four sessions with prices
on a reactionary note. At
Thursday's close the list ruled 15 to 35 points— 75 conta to $1.75 a bale -lower than the preced- ing wook.
REVOLUTION
By HARRY W. FRANTZ
Washington, April 6.
GOODS MARKET
Naw York, Apr. 6. The twin-holidays Easter and Passovor—continuad to hold business in basic textiles down to q Iow obb this past week. Cotton goods sellers found
buyers interested only in inking
on just what they needed for
IN SARAWAK?
Opportunities exist in Sarawak for coment making and investigations by the Geological Survey Department indicate that the possibilities are good in the east Sarawak-Brunei area, where limestone and natural gas are readily available.
quick delivery. That has been This is stated in the 1957 Annual Report of the their policy for the past alx Department prepared by the Director of months.
Geological Surveys, Dr F. W. Roe.
Similar conditions operated in
rayon, wool, burlap, yarns other markets.
and
The business recession in the United States will
The Report, which is about to lead to a speed-up in the "technological
Further offerings of Japanese be released to the public, states the Labour made in revolution," economists
print cloths End broad-hot Brunel, Sarawak and Narth cloth constructions, at prices oreo could be supplied with Department predicted today.
attractively below
manufactured domestle locally
cement lovels, and the possiblity of that cild probably compete in At further Japanose offerings Price with imported cement. ahead, injected an exire note of present British Borneo Imports cement~00,000 tons of caution in cottons,'
cement worth about $8 million was imported in 1905,
This would aim to match pe it marked the first major set- exceed the technical progress of back in the forward movement
the Soviet Union, Germany, which got under way in mid-Jan and
alber Industrial try to carried forward countries. with le interruptlun for mine weeks in a row,
Technical considerations play- ed a part in accounting for the
traders
Chari fall. reversal, readers remembered the March, at the recent delivery, 1959,
apound high of 37.30 cents showed cumulative rise of 24.25 bale sinco trading com- menced in that delivery Just autumn.
Uncertainty over admbilstra tion farm price policies; pointed up by Agriculture Secretary Mr Benson's renewed request for permission to cut support as law as 60 per cent of parity, in jected a note of caution among buyers.
107
They said that "technical re- volution" w39
Inaccurate phise as the contemporary re- volution methods might better he described as an "evolution."
STEEL STRIKE THREATENS
W. GERMANY
♫
manu-
One area in the east Sarawak- Brunet area is particularly
for coment favourable
Baram River facturing-the trea with limesiono Bata Gading and natural gas
Japanese offerings included the 180 X 00 broadcloth, CX- onflent quality, at 26 cents a In the auction dealing with yard, spot. Fair amounts were
cement manufacturing possibili- reported word on that basis. Atica, the Report has this to say: comparable domestic weave was quoted around 20% cents yard.
Cullon yarn sales continued The United Press questioned
Duesseldorf, Apr. 6, experta
slow with hardly any business whether the present
for deliveries ex- Idlenera
about uf
5,500,000 Ruhr Iron and steel industry transacted
union trading beyond the second quar. workers
employers and in the United States might have
spin- resulted in part officials will make last-ler despite the dullness, from "automation," which in a
ners maintained a firm price minute efforts to avert short period could apparently.
front generally. of a. strike
184,000 reduce the need for manpower
Rayon goods witnessed slight
relecting workers due to start on improvement, in some industries.
30% moderate gain in activity Wednesday.
finished goods. On future do-
however, buyers re-
the
that Economists replied progress of technology is never a basic cause of unemployment, though it may displace some,
of workers from
particular Altention turned away
dustries during ansitional Washington events to some ex- lent as traders followed crop period. Focessions are due to for and weather news with in- ren-technical causes us,
Persistent example, excessive supplies of ercased haterest.
Inventories, cold rains and
temperatures goods York bankers and businessmen, have hampered sall preparations purchasing by the public, flew back to Boon on Wednesday and seeding over a large uren reduced industrial expenditures
for capital goods.
con- to
Q Bulidbug contracts in February were behind the same period a year ago for the third
north in a row.
of
The Minister, who spent ten here conferring with New
"reassure
German
arc
by
and
no
in
of the south.
In view of the outlook for a much smaller acreage this year day-to-day weather develop menls, are expeeled to have in bercasing market effect.
s
As it looks now the 1958 crop will get off to a large start, and prevent adverse weather may Bonie farmers from planting much as they lind intended.
Growers have indicated a de- la put approximately 5,000,000 acres in the coil bank. This would reduce the acreage to about 12.5 millice acres from a national allotment of 17.6 million.
However, some farmers may
alre
in
stow and
Economists taid That, con trary to the popular impression,
a
from Seria Dilfelds.
Advantages
from
• Herr Heinrich Hemnath, Laveries, bour Minister of North Rhine-mained caulicus. United Press. Bro, with its better transport, Westphalla, is attempting to medlate in the strike and will meet industry employers Tuesday to seek an alternative to a strike which could cripple West German industry.
קנז
He may have further talks on Tuesday with representatives of
the Metal Workers Union,
If the strike takes place, could be The Federal Re- public's bĺkgost post-war in- dustrial upheaval, with 1- percussions on coal mining,
tries.
advance of industrini technology in the United States Has-been-less rapid than in
the decade following World Warengineering-and-scrap Indus It. In the 1920s the ovolution was marked fundormentaily, by tremendous expansion of mass production and mass assembly of manufacturers.
⚫ Stect operations tinus to run around 50 per cent European business interests." of capacity, the lowest level He stressed that the economies World of European and perhaps all since the period before War II with the exception of foreign countries -strike-periods. There has been means as closely linked to that were and of America now as they no seasonal improvement
clays. terimakers expect the rate to during the gold standard ko luwer.
But whether the recession spreads or not, there was
Washington unensy note from in, the revelation that many of the letters received by congress men from their consiltuents are urging that foreign aid be cut anti- to finance or stopped
government rocession doméstic
The chief aspect of the dure Division will furtourth spending
technological evolution in re- 1,100 workers 1 m Dayton. There was no apparent dis- Ohio, plant. Westinghouse will position in Washington to con- change their minds and decide cent years have been "automa
measure, but it to plont instead, in-view of the tion," a term not carily defined clase 1 Columbus, Ohio, plant, elder any much
high price levels for but generally applied to the Idling 4,000.
enuld be an unhappy straw in current
crop futura, some introduction of technical devices the wind for the future it thenow
thought. — United | which increase "productivity," business slump and unemploy- observars ment continue-United Press.
"ProducUvily" refers to pro- duction por man-hour, and not to the total output. It is not a [“Aynonym" for="production;/*
large makers ⚫. Two household appliances unnoun- ced layoffs and production eut Motor's Felgi backs. General
of Commerce Beorntary Aineinir elected an appeal by the AFL-CIO Union to release immediately the March unem- niorment figure. - It will be- ram -leaved next Tuesday and -expectaḍ... to be around 5:2
rallifon.
La
Press.
The New York
PRODUCTIVITY
A strike could cost the in- dustry about 300 million marks
25 million) a week.
The Union originally de- manded a 10 per cent wage riun for its workers while employers offerod 3,0 per sent. After Jast week,, Herr negotiations Hemath suggested a compromise which employers said they were prepared to accept. But the unlon rejected it yesterday,
workers.
LONDON STOCK MARKET
London, Apt. 6.
It is considered that the advantages of the Baram River
easle: BCC056 and greater economic development, outweigh
other areas such as those of Subls where- Umestone and natural gas also occur.
Cement maiting in the Kualo Baram area
on the depends evelopment of over 10 million- èubic yards of limestone proved by grological field work of Balu
There is a considerable sute plus of natural gas produced at Seria. The pipeline frum Seria to Lutong is working almost to capnelly and it is probable that
line a fresti would have to bu Inid.
The approximate cost of
en the surface, pipeline Ind
nssuming a minimum of clear- ing work and good access, has been estimated at $48,000 በና nillo for a six-inch line and $32,000 a mile for a four-fich Ilne.
a
It is, in general mest econo- mic to use a rotary kila with an output of about 100.000 tons of cement annually. (It in be lieved that British Borneo li ported more than 100,000 tone last year).
An assessment of the relative. merits of the different produc- tion methods is being made and a careful estimate of potential, demand would be needed ba fore a decision on the type of plant was reached,
Cement consultants the Brinel Government propos
will be able to calling in udvise the government.
Considerations
Inter-territorial considerations
If this
and
of
were done, Kusla Betalt has the advantage existing
administrative facilities and closeness to a potential market orea, The supply of clay for the cement is
an important factor, however, and if the clay is more sulfablé in one area than the other li
The feature of this past Gading, about 180 miles up the are involved an Sarawak would short wook has been the Daram River, and the use of na- provido mestone and water rising investment demand{tural gas from the Seria dl-transport cu the Barom River for British Government felds, Limestone and heating willo Brunel would provide the are the two main cos natural gas and initially the stocks by banks and in-power
factors in the manufacturing į main market. However, there "surance companies.
process; others, such as clay and" "will probably be an increasing Only a few weeks ago, these gypsum, are subsidiary,,
market In Sarawak and mor got big hielitutional investors
possibly one in North Borneo, permission to invest part of The most suitable sile for ut A cement factory at Kuala their funds in ordinary shares, factory is the coastal area where Belait would be dependent on And now the same with govern- the ecment is mostly used, the construction of the Pag- ment stocks.
where a natural gas pipe linelayan canal, which would pljow Getting wind of this, many running, from Serin, oilfields to
the limestone from Batu Gøding others rushed to jola. War Lutong refinery already exists, to be carily transported to the Loan jumped 28/8, the railway and where land and coastal site. nationalisation stock 27/8, and transport lines meet. old Consols from 25/- 10
£50%, compared with is 12- The Daram River is navigable from Batu Gading to its mouth, month peek of 65% sterling...
Leading industrials were but there is a bar at the estuary It provided for a 6.99 per cent bought actively. Midland Bank and only shallow-draught vessels rise for time workers, and u
shares rose 2/3 to 1/-, close to can enter the river. Similar 4.93 per cent increase for place its peak of 02/-, Macks and restrictions occur at the mouth
The Union strike commillee, Spencer and Lancashire colton of the Belalt River,
It has been ruggested that a might outweigh other considera shilling, wero British-American with headquarters at Easth, will roce 1/8. Others, up around a announce on Tuesday whether Tomero, De Havilland
and canal be dredged to link the Lions.
On the potential-markets, the will call out all fron and sicel
Dunlop
that with Rubber. Rolls Royce Bar and Belait rivers this The decade after World War workera in the Ruhr or only
fuel und wultable lime- improve those in pleked works-Reuter.tumbled a shilling and several would be about two miles long. teport concludes
(in the past there was a small cheap 1, the technological
[öfkely"about D· ponce,-
In the olls, British Petroleum 24-mile connection known as the stone there is a good chance
This would
that cement produced would be was down 3/-, Royal Dutch and Pagalayan Canal.)
able to compote favourably with 'allow
low-cost transport by Shell Transport down 2/- or
coment not only in 2/6. Canadian Eagle was an barge into the oilfield region and imported exception, with a rise of 1/6 wor? Brunel which is the main runel and set Serawak but market for stone and cement also in western Sarawak and Fence.
North Borneo, so that there Foreign bonds were neglected. st. present.
should be # good long-term The Germans
idle and
The coastal areas of northern Gading linestone has the shown it to be suitable for Borneo, from the south of the shortly to be issued by the non-assented:
There is Department of Trade and Cus 1899s and the 1930s lost £1 and cement manufacture. Further Rajang to Kudat, are short of
are being made and good quality stone.
• The Invasion of technical toms, show that the aggregate most of the others sterling. analyses
WAB scattered selling tests are being carried out by the every Incentive to use cement methods into Job ureas of value of the country's externa! There
assenteds, which Mhe Rescurces Division in for purposes for which it would not otherwise to employed it railroad, or more appeared in US Steel. "white collar workers, as well trade exceeded the 1956 total of among the
good stone was readily avail. as factory operations;
The relativo lowered several by sterling, 1.25 per cent.
the was and Republic. In February, the Federal Re
Rol
been re-able, such Advice has also
road-making. Bgures are $962.98 million for An exception
5 per of The multiplication
аго Barve Beard said, on amount averages have declined for eight lethlehem,
Selling Alleghany-Ludlum lost 2% and
for sasented of the Tokyo
Stone supplies
being $950.89, million 1957 and $100 millon above what is con-1 consecutive
cents, which gained sterling quested as to the most suitable
variety of clay or mud for steadily developed in this region, Inland tumbled 4% and Young-dectronic controls as distinct 1958. sidered normal for
town Sheet 54%.
from the human control of in-
Batu Dollar stocks receded bi by
Gading but rack has ofion to be trans- The value of imports amount- Non-ferrous The figure reflected lower sales been persistent,
eased xing with were dustrial processes; and, metals
limestone, and tamples
distances, ed to $403.43 million compared bit and their premium
from ported considerable of cars and other durable con-
by price
cent.Unded 514 cuts and
per
Kuala Baram and Kuala Belall and It is certain that suppiled siepressed
The application of tech- with $108.09 million in 1955, a from sumer goods,
their Inventory problems. Aluminium
will not be found at every place, have been sent to London for
where stone is needed. testing. to companies cut prices 2 cents a mology, through the use of decrease of about $9.46. milllón. Press. the uncertainty in Wall Street, pound last week and losses ran electronic computors, in clerical Massachusetts Investment Trust to 3% in Alcoa Kennecott lost and selentille folds as well as
in manufacturing Industries. on Wednesday sold the entire 44 In lower copper group.
Inventory problems and the
crude olt. imports The displacement of workers light over helped to explain the selling in obviously is more of a problem! in a period of recession than in the olts.
UNCONFIRMED
- period of expanding economy Also, there was an unconfirm-and employment. But Labour
Manufacturing Arms con- Inventories cul tinued to daning February and March, the Commcree Department re- ported, with cuts most evident in the troubled hard goods In- dustries. At the end of Febru-
four months ary, despite culling, manufacturers durable goods stocks were relation to sales then at
of
Stock Market
By ROBERT G. SHORTAL
New York, Apr. 6. Cable Cantion over the economic outlook and some professional selling combined last week to stock whittle almost $3,500,000,000 from market values.
лу
time in the preceding recessions of-1940-49 and 1953-54.
Consumers reduced their
instalment debt by $436 million
The industrial and
sersions.
February, has not been heavy, but it has
There was evidence last week that some of the big investment are lightening trusts portfolios, which has added
* Auto assemblies in March dropped to the lowest level for the month since 1948. Produc- tion was 357,040 cars, 0 per cent below February and $8 per cent
of 130,000 shares below March, 1857. American holdings Motors Corporation was the Chrysler. A. 33,300-share block only one to produce more cars in Standard Oil (Indiana) on Jast month then in the 1857 Thursday also was attributed to
professional selling. period.
إن
Losses ran
menta caused an average in- créuse in productivity per mun hour of five per cent annually. In the decade following World War II, the annual increase was at a rate of approximately 3.5 per cent.
Besides
automation.
ollier
Sarawak's Trade
Sarawak, Apr. 0.
were
Preliminary analysis of the market of Sarawake's exter-closed unchanged. Japanese en- Balu current aspects of technologiectaste for 1987, which are countered selling among evolution in the United
are:
experience in
VOA Covers
Those
ot
the
The
Washington Fair
1958
Washington State International Trade Fair.
Word from the United States Information Agency was forwarded to the Trade Fair office recently by William H. Flood, manager of the Seattle Regional Office, United States Department of Commerce.
Sears, Rorbuck & Co., the
LOSSES **
ed report on Thursday that Department case histories of The Voice of America will cover the big mail order house, announced cut that it had managed to
Individual less for the four- Jordan had nationalised the oil post-automation
distribution business In that petroleum refining, automotive. prices, but said much of the day week ran past 3 points in a
A handful country.
10 more bakery and other industries do by Foduction is coming out of pro- number of issues.
than 3 points in Skelly and not show that automation Bls. The company announced lost 4 painis or more.
than 2 sel! crused a permanent re- earnings of $2.15 a share in the One factor prompting caution Richfield and to more fireal year ended January 31, in Wall Street is the uncertainty points in Shell. Most of the duction in the total number of noves pivotals in this group lost mure workers. There were, at course,
hardshipa alightly under the $2.20 a share of what anti-recession
some individuals, will be adopted in Washington, ann a paint. announced a year earlier.
There were a fow bright spols especially older workers Many traders are marking time
The tobacco met could not 1er the new
• Labour Secretory Mit-pending & clearer idea of what in the list.
of operation-United chell told a news conference the over-all programme will support on a good earnings out methods
Inale. American rose 21⁄2 endPress. that a tax reduction "is one that includo.
The feeling is that a big Lorliland 34.
spending to combat goverment:
On the anif-recnesion side:
should be seriously considered"
it another big slep
direciton.
pro-
Autos, now in the mids! of ground. Chrysler was the big laserl
who
Bank Of England
Statement
score of
Trade Fair is het for April 11-relations chairman. 20 In Seattie, Interviewp with "By offering a domamie, poil- averseaz exhibitors, reported on tivo programme of self-help to the neighbours around radio tape and film, will be our gathered by five-man team, Pacific Ocean, Washington State the business slump is necessary, { uronne would be inflationary contract talks, gave
Then beamed throughout thic upgrades the international ro Although the White House con- in nature, a development which
lations of the entire United world. tinued wary of tax cutting would serve to push stock prices
The Dow Jones averages for
The loom, to be in Seattle Slates." there was still a great deal of higher.
April 9-12 Inclusive, also will Products from a congressional pressure in that On Thursday, the-nal sersion the four-day week showed Indus-
develop a background story Asian and Latin American na before the long Easier weekend, trials at B.11 points to 440.50
about Seattle. This story, will tions will be presented at Trude Prezident
Elsonhower traders noted some evidence of the sharpest weekly decline since
take in the city's port, industry, Fair. London, Abr. 8, signed the $1.9 billion houting short covering late in the day. Dec. 20, 1957) role off 9.17 to
cultural activities · and the in- Largest displays, accompanied bill sponsored by Congressional | Thore who had sold hurt 101.43-the sharpest drop Minca up 0.03 10
The Bank of England stale ternational Marketing Conferete by government offlelals and/or .Democrats, but criticiand its spparently decided to protect Jan. 10; uitles
inylow of the 74.08: and 65 stocks off 2.54 toment for the weak ended Apr co-sponsored by the Trade Fair salesmen, will come from Japan, principal
tra- | their profits
100.22-the harpest weekly de2, reads as follows
and the University, of Washing the Republic of China, India, fures, indicating the Administ, mërket holiday."
the Philippinas, Pakistari, Korea, ton. tration might not be in any rush Steels favoured the downside, clino anco Dec,, 20.
Of the 1445 issues traded Notes in stegulation....
That "Volen" is covering Malaya, Singapore and Hang- top most of the farida wilḥ a few of the loaders
Trade Fair for the third core cong touching involv
Another last week, 365 doclined, 480 Pubile dypalle *** Private depuikiai papasa Financier, `‹ Bornard M. cut in steel production and do advanced and 172 hold unchang-lagetariera securities Baruch, fontifying before. the immediate prospect of an up- od.. A total of 120 stocks hit oler mevriles are SOP
• Senate Finance Committes, in-turn wore the factors influencing new highs and 57 sot new laws.be sisted tax cuts, or pereared, this group, our sis palpi-United Press.
anti-rocomion
now lowe.
Biering
· vidalied Prost
outive your podnia" up, the imi Weekdays are reserved for portance of Washingtor's pioneer accredited professional buyers. krule ventsire," recredde:co Bay | Tho-puolto may attend evenings. H. WENIZITE, Trade fair public and weekends,
London.
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