1953-07-14 — Page 9

MESSAGERIES

P.O. Box 05.

Queen's Bldg. -

M

MARITIMES

Tel: 26651.

M

PASSENGER/FREIGHT SERVICE

Leaves Marseilles

"LA MARSEILLAISE" 1 July

*Outwards

"VIETNAME"

Homewarde

17

July

Leaves Wonghang "FELIX HOURSEL”....25 July "LA MARSEILLAISE" August "VIETNAM” ........22 August

ivngkong

. 2-4 Aug.

9-10, Aug.

For Balgon Jokobams

Due Marselles

V

23 Ang.

Atanita

27 Ave.

14 Sept.

Malgʊu Salgan

vio Marseilles to all Mediterranean & West Africa porta, via Djibouti to Madagascar.

FREIGHT SERVICE

Outwards

Leaves

"MEKONG"

.Europe-Sailed

"COURSEULI.ES”

Europe-Salted

Ramawarde

traves

"MONKAY"

"BILVERSANDAL"

"MEKONG"

"COURSEULLES"

Hongkong

23-14 July

For

Japan Japan

For

Keeltaig=18 y

August

29 August Hongkong 22 July

4 August

Keeting-19 August 20 August

2 --SUB[**31**

Kerling 2 October 31. October

•

↑ Saigon, Marseilles, Algiers, Oran, Tanglers, Casablanca, Le Havre, Antwerp, Rotterdam & Dunkirk. Subject to change without notice.

EVERETT LINES

EVERETT ORIENT LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Rangoon, Calcutta and Chittagong.

"BRADEVERETT"

July 10 from Manila. July 20 for Singapore,

Rangoon & Calcutta.

Arrives Saife

"REBEVERETT"

Arrives Saila

1

THE CHINA MAIL, TUESDAY, JULY 14, 1959.

The Pattern Of World Trade

Relaxation Of Controls On

HONGKONG Imports: Further Step

SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning amount- ed to $851,280.50. Noon quela- Bons and the morning's imus- betions:-

BBARES BUYENŃ SELLERS SALES

BANKS

150

JIK Dank

1510 1320

"

East Asia

INSURANCES

Canton

Unhin

239

785 745

1TM

A

Underwriters 4.80.

TI Fire...

SHIPPING

143

Asta Nav... 1.35

DOCKS, ETC.

K. Whor

Dock

Provident

Shal Duck Syncelock

LAND, ETC ik total

K

Sual Land Humphrey's realty

· 144

10004.

AUD 12 BA.

1032 04.

21

500 500 200

21.

21.

12.30 12

193

500

8.63 8.75 18700'

B.72)

Taken

By Australia

Announcement in Canberra by Sir Arthur Fadden, the acting Prime Minister, that Australia is to relax import controls further will be welcomed generally. In his announcement, Sir Arthur said:

Threat To U.K.

Air Exports

Paris, July 13. France is emerging as a definite threat to Britain's dominating position in world air markets.

The country's nirevalt industry İms bounded ahend in rocent

years and is now working at full pressure to build planes » good as any made in Britain.or 'the United States, the

"Appropriate adjustments will be made regarding goods Heences under ud- ministrative arrangements. Imports from non-dollar, non-Japanese sources, known as Category A goods (goods for Industrial use), which have been licensed on basis of 70 per cent of the base year 1950-1951 will be licensed on the basis of 80 per cent of that year. The licensing of Category B goods (consumer and fully manu- factured goods) will be raised from 30 to 40 per cent of the base year."

There would be several relaxations on a selective basis of Japanese imports, Detalls would be announced soon.

The weting Prime Minister |

Subsidies on a large scale háve; portant

with

APPEAL TO BANK

spotlight

The international Air Show in Paris the equivalent f

The British Parnborough display-has Franco's Impressive the field. Ker Intest jet planes, now going late production, startled

observers with their outstanding flight per- formances at the show.

The

French are covetously eyeing export markets and have already begun

to 'establish a foothold in countries which have beet British strongholds in the past.

Payments Statistics Published

Investment Income Revealed

!

1 London, July 13. The Junc

of Issue the "International Finan- cial Statistics", published. monthly by the Interna- tional Monetary Fund, 'con- tains .batch of 1952 "balance of payments" Agures for some 16. count- tries, practically the first to пppear.

Nearly all these tables con- tain an item which attracts, perhaps, more politient attention than any of the others, namely the country's "investment In-

come."

If the country

concerned like the United States, tho United Kingdom or Sweden- has Invested some of enpital abroad and receives an income from it which exceeds whatever payments it has

who foreigners

within capital

mako to have inv:sted

the country, then that net

They have won a contract to supply the Indian Govermnenj "Investment Income" is a plus with 36 of their Ouragan Jel 1 item and can be added to the fighters. And, from South country's balance of payments. America has come a substantial

In 1959 order for the Norallas mißtary

which country continued: "This decision re- continued up to today. The result Argentina has had an export continuously since the presents a further instalment in and implication of their effect on surplus

In March of this year the progressive relaxation of im- agriculture. were indicated when war.

surplus with port control, which is the ca- reference was made to the ac- she had a small tablished policy of the Govern

orn-rumutition in store of agricul- the U.S.A.; she exported $20.9 meat. In

February the tural products valued at about $3 mn. (U.S.) value and imported Government promised to release billion, which Is proposed to only $8.3 ms. 21 20 controls as soon as trade per-distribute, by legislation, in pay- 12.40mitted. Since then our experts ment of Mutual Security Agency 300 or 12.40 have been buoyant and the level and other programmes in lieu

In soile Of the financial SK 12.40 of our international reserves has of dollars. for services rendered

difficulties which bedevil the 500 12.40 continued to rise."

by overseas countries, European Brazilian scene (lack of foreign Sir Arthur went on to say that for the most part,

currency credits and long-dated the Government had examined

United States farmers have re-accourts unpaid) the Association

BETTER FINISHED Australia's trade balance with sponded appropriately in proof Dealers in Domestic Ap- Japon. Because Japan had been ducing in proportion to the sub-Į pliances has appealed to

French factories are also be- indebted to the sterling area as sidies given them in order 10

Bank of

of Brazil for the grant of

ginning to produce light jet was a distinct increase output. A huge wheat lleenees to import the minimum a whole, there

Un training aircraft, which are danger that she might be forced surplus this year the United quan of such uppliances

world-wide intercat. Considered essential to avoid using wowing ingenuity in States

was foreseen two months to restrict her overseas buying, even of raw materials such as 480; necessity of adjusting dealers having to eurtall their the held of small jet engines with 200 23.20 woul and barley. During 1952-acreage to the 1054 crop-year in activities and dismiss employees, the Turbomeca range of types.

These engines,

against which there is at present little or no competition, are being used for the jot trainers and the French look like collaring the overseas market.

1500 8.10 12345 30 43

3300 1,43 31 16500 me Plaj

1.49 1121 2.47%

Penang.

UTILITIES

Trat

23

500 25 1300 - 2130

P Fr (0)

40

P. Tam N

213

1953.

Star Ferry

124

Yokolama.

2. Light ro 12.2.2010

1900 12.6u

C. Ight (N) 31, Electre

25.000)

July 29 from Singapore, July 29 for Kobe

(Accepting cargo for transbipment Kobe/Pusan and Kohe/Okinawa)

EVERETT STAR LINE

Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Siam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Ports.

"STAR ARCTURUS“

Arrives Salls

July 22 from Singapore

July 23 for Noha & Japan

Arrives

July 29 fora Japan.

. Softe

hart,

200 25.00 500 25.00 1500 or 28.5m treated

Macho Ele.. Telephone 21 20

INDUSTRIALS

Cement... In

Its

STORES, ETC.

Dairy

17 60

22 50

273

Madras, Colombo,

Khor-

&

COTTONS

Ewo

July 30 for Singapore Port Swetten-

Bombay, Kuachi,

ramshahr, Bestab Edmrein.

(Accepting cargo for transhipment Kobe/Tusan and Kabe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A Queen's Building, Telephone 31206. Chinese Department: Tolephone 28293,

The Rubber | AUSTRALIAN

Markets

Singapore, July 13.

The rubber market eased off

In the morning but stendier) in the afternoon. Prices of futures closed as follows:

No. 1

No. 2,

rubber per 1h, July 05-05

August 60%=601; Sept. 404-6837

rubber per 1. July 6415-65 No. 3,

rubber per 1. July 014-02 No 4,

rubber per July ent-cos, Spot rubber tinbaled.... 66312-05

561-5715 Blanket crepe

72-17 No. 1 pale crepe

United Press.

TRADE

DILEMMA

Canberra, July 13.

Government The Australian dilemuna 1 in

trude over with Japan. It must either rus duce its highly important woo! sales to Japan, or admit more Japanese Imports into Australia to compete with domestic and British goods.

101%2FNG

Japan

the

WAS

Australia's now occupying the attention of

customer,"

Was

Annual

The

ap.

to

plane.

second-best

sales of these Sir the Department of Agriculture, 1200 Arthur declared, so Australia Washington, The 1933 crop out-pliances in the Rio de Janeirs 1500 12.00 has important interests in con- put is likely to be 1,000 mm. district constat mainly of 40.000 with

and electric bushots,

refrigerators. 30,000 400 20.00 tinued overseas buying capacity

The television sets. 100,000 radio re- uso about 900 mn. 300 or 20.90 of Japan" 500 20.00

radio gramo- The Acting Prime Minister said Commodities Credit Corporation, ceivers, 50,000

The trainers are comparatively Japanese exports had been that

it as estimated, would have 500 phones, 30,000 washing machines, with

considerable severity mn, bushels on its hands at the 110,000 sewing machines, 30.000 cheap to make and far cheaper la March last year, but Aus-beginning of this month, and at record players, and 3.000 planos. use. Britain bes one cheap fet operate than those in current the end tralian buyers were not now the

the month there would

trainer on The association has submitted

the drawing-board- seeking from Japan anything be surpluses of 500 mn. bushels) 500 18.40 like the same quantity of items, of wheat, live mn, bates of cotton, the following minimum require- but it has not down yet,

France is also going ahead with 1000 300 N 181 such as steel and cement, as in 175 min. lb. of butter, and 3.85 ments for six months represent-

The supersonic developments. 300 1814 1952.

billion b. of tabaces-unsalable ing 15 per cent of the normal Japan continued, as 500 10 strong buyer of Australian wool, at current world prices.

namely, have two faster-than-sound types needs of the market,

how and more are being pre- 500 18 barley, and other products. The proposed Bill, if approved, 2.000 television sets worth U.S.

pared. make provision $400,000. 1,000 washing machines, will ultimately

French workmanship has im- 5,000 record players for:

and proved enormously since the war. playing recordis worth $200.pnju,

One British exhibitor at the planos from Germany, France and

worth $100,000 Paris show, referring to the con. Czechoslovakia

engines in are also included.

struction of British France under licence, sald It wa embarrassing because they were better finished than those made in Britain,

100

185

22.70

300427.00

and en-

1. To make loans to banks of the recipient country to increase production facilities cournge foreign trade along the tines the M.S.A programme.

WORLD MARKETS

Government According to a

published in SINT 22.5G Eve-year Pisn, 200 22.00 Tokyo, Japan ans to capture 30022,80 markets in South-East Asin, and 500-21.00 1000 22.00 to increase her merchant fleet The plan, 500 24. which has been fald before a Such use of the funds would be committee, is dependent on mutual agreement States and the designed to cut production costs by the United

500 ( 24.

by 1,200,000 Kons.

1. Crawford

24

200 24, 20 24.

Wi

parliamentary

2

and increase Japan's exports to 2.55 world markets, backed by

Suno

3.

5,75

MISCELLANEOUS

Yangtze

0.70

1000... 1.80

of

participating country. 2.49 3.60 4250

2. To pay U.S. obligations for

establish Textile Carp. 51% 0.80 3300

373 policy of "econmic diplomacy" co-operative defence

Another Big Break In Stocks

New York, July 13. Stock prices were rolled back 10 June 30 levels today in the sharpest break since June And the heaviest turnover since mid-June.

SDING

the advance

June 17..

in-

by

and higher industrial efficiency, ments, maintenance of troops and

the United States for forces of additional

་་

use

more

nod

GRAIN REVIVAL

132,003 tons of

or

ASIA, MIDDLE EAST

matter DI of

Burma and Thailand

In-the Middle East there is in-

Gil

thre

pros-

Lapse Into Dullness In Cotton

"New "York, July 13. ̄ Cotion truding today lapsed into dullness after a busy and

A creeping and partial corac-

tables, the United States received 1052, it appears from the

a net "vestment income" from Its

investments which foreign

amounted to $1,480,000,000; the

om similarly ro United Kingdom

colved one of £81,000,000, equal to $171,000,000, and Sweden one

of

1,075,000,000

$207,000,000.

But where

króner, about

+

" country has certain corning assets which are mainly owned by foreigners who take home annually part (if not, all) of the profis left after paying wages,

taxes, cle, then nes a minus figuro In the table

the item becomes and duty with a minus

RE-INVESTMENT

Where the

foreign concerns re-invest part of their prots within the

that is do- country ducted so that the "invest- ment income" represents only the income leaving the country. That figure then has to bo deducted from the balance of payments to show the country's economic position vis-a-vis the outside world.

Some of the "munds investe ment Income" for 1952 and 1951, as shown In the June izua (but converted into US dollars where they appear in terms of the national currency) are as follows:

Cuba

Mexico Pluppine

Dominican

Ecuador Micarlgus

3052 US

1931

Dollars Dollars

50,000,000 33,800,000

43,000,000 38 500,000

Republie 18,500,000 24,500,000

Republic 14,400,000 20,300,000 12,300,000 4,000,000 3,400,000 0,300,000

The June tables include Den- mork, with an "Investment in- come" In 1952 of 65,000,000 kroner (sny US$9,400,000) and In 1951 of 70,000,000 kroner fabout $10,000,000: Australia one of £59,000,000 In. 1952 drk! of A £58,000,00

000,000 in 1951 ($132,000,000 and $134,000,000); and India-104,000,000

rupoeg

In 1982 and 230,000,000 rupees in 1957 ($22,000,000 and $50,- 000,000)-United Press,

BRITISH

ISOTOPES

FOR JAPAN

A recent issue of the Canadian Government publication "Foreign Trade" gave a summary of the addit conditions tu Asia and the Middle East. Unstable political conditions and the absence of central banks, it is stated, render Japan is dependent on orders personnel abroad, and purchase trade exchanges haphazard.

scarce materials Monetary and social from

conditions in Japan and Korea for her trade for our national stockpile.

niso are unstable.

The creat payments balance. The plan es- Overseus

countries which, standing of the individual buyer timates that this special dollar

becomes of paramount import income will still amount to $200 within the past few years, have becom

290been purchasing agricultural once. Normai practice Would mn. a year at the end of the five products from the United States. seem to be to sell in these markets year, as it would include supplies of which have been receiving against letters of credit; only in for making good the damage such products under E.C.A. exceptional circumstances would enused by the war in Korea. M.S.A. operations, have been re- it be advisable to ship on draft The plan proposes a drive to paying these subsidies to the payments of restricted terms. The enaler opening saw prices drop increase exports from an e-U.S. farming community, either

ther majority of these countries have

another $1.70 per bale with timated $1,180 min. last to in cash or for services rendered restrictive trade controls of one nearby July delivery, agnir, the

year to $1,400 mm, in 1958. During the to the United States Treasury. type or another. In the Far bears main target. same period Imports would be

be At the same time the operations East, trading is a cut from $1,780 mn, to 31,000 mn. of the C.C.C. have kept the ex-politics, not economies.

Ching back from the lows in late The plan aims to cut the price port prices at en abnormally high has cut off

off the outside world trading was. aided by a sub- ammonium sulphate level.

from normal trading with her: sidence of July

liquidation of coal and

by means of 20 per cent

her incursions in "Indo-China following absorption of 14 de by 20 improved methods and Better

have made this latter an unsound livery netices, plus covering by day traders playing for a techni- Good crops in the Argentine, market. of labour. It also seeks big cuts in Iron and steel prices, ranging

long period of also are threatened.

cal rally, from 4 per cent for iron to. 27 following a

closed July netually

off 25 steel plate, drought, have stimulated the ex-. The many uncertainties which per cent for thin

points whlic other positions attend the truce in Korea were together with a home food pro- port of grain. The Ministry of creasing insecurity in Persia,

were down to 3 points. The what duction scheme to cut imports, Foreign Trade, Buenos Aires, has being the contributing incter. Oll brought to the fore by

contributing factor In nounced i that, between January 1s the

market opened off 4 to 14 points. in electricity be an and an increase oppeared once again to

15, this year, Iraq, having a stable standing, New Oricans closed off 27 to 25. May 111 and of that production. rettlement cminent

Moderate 10 heavy good prospects of trading to points. Argentina exported 876,620 tons with SUBSIDY POLICY

of difficulty. These, combined with

of grain, including 450,374 tons advantage and with security. The week-end rain over the parched

The largest consignment past few months

Western During the

to In- best area of the

radio-active materials over the questions brought up

jected a bearish siant to market borley, 43,012 tons experience of 1952 and the new turn in Russla, made US. shipping leaders have bem of wheat, 210,703 tons of maize, same can be said of Arabia. The

be sent from Britain to Japan sentiment as the start, but later left by Comet jet airliner ro it seem a good time to take active at Washington in present.

the weather of the profits acrued in ing their case for financial aid to of oats and 20.234 tons of rye. This pects for 1953 are summarised,

cently for the Japanese Audio 1553 Im- under way since build and operate ships at a price export activity is being accom- for some of the countries, as traders, studying

good

news details, claimed a big and Isotope Institute in Tokyo. by an activity in conclud-Arabla, 1952 panied which

essert would compare

Important part of the Western Specsly despatch was ofing, or negotiating, trade agree-ploving god good; Egypt, 1953 art- closely with the cost of ship of

ficult,

1952 belt failed to receive any worth- other countries.

1053

better, Perata,

tial as the consignment in- with ments In contrast with the past two similar

elements size and type

fort dificuit, 1653 uncertain; Japan, while reller from the prolonged cluded built According to the current

radio-active sessions of decline, activity in-abroad. They have urged that nightly review

in a which deteriorate the 1952 fair, 1953 uncertain; Le drought. However the weather Issued by the creased quite sharply-to 1,120,- such subsidies are necessary to Banks of London and Southbanon, Syrin

and Philippines, and New York, July 13.

and crop news continued to the price of the consignment

by

last- rubber The

future inarket In return, Australia imported 000 shares from 360,000 last obviate the shipyards having to America, Lid, a trade mission 1952 fair, 1953 fair, Iraq, 1052 overshadowed

but this their worth Friday. The market broadened close down,

Is or dismiss closed with an easier

1953 good. minute uncertainties in the July good, iren only about £5,000,000

given a £300, from the U.S.S.R. was expected fair ugh lack of orders. last 135 shares o following the lower stocks and of Japanese goods. This is the

workmen through

an Liverpool Journal of Commerce, delivery where dealings expired understates its value. month

conclude 10.

during the

hours of charges

only

what it the downtrend of come other reason for current Japanese fraded--the most since June 18. In regard to operational subsidies, exchange of goods valued

Wednesday, There were 718 lower, 177 higher they point to the lower casts of U.S. $150 mn. Russia is stated In n spot threats to reduce her wool pur

to produce commodity markets. rubber market, dealers reported chuses unless Australia buys and 240 unchanged.

The open interest in July has placing the foreign ship at great to be interested iri

sted in buying linseed Eastern shipment offerings in more Japanese goods to redress

of lamb. mutton, pork, wool, Individual torsos ranged to advantage on the world's trade to be inter light to moderate supply while the balance.

extracts, factory buyers and dealers

more than three dollars a share routes. Above all, they claim

will furnish in exchange, showed only a routine interest.

with the total market valuation a virile merchant maring is a cheese and quebracho

sine qua non to Dational economy of all stocks cut more than one Prices of futures were ns fol-

of iron and steel safety, and that aid should down Rails,

oll drilling equipment dollars,

average, were than in the past

ere be granted in greater measure and:

atiala such an Argentina has

agricultural machinery. In their

already signed hardest hit in the percentages. end, and compared the trade agreements with several

have $2.54. Only Industrials fell

Government's niggaedlince to-

Eastern European countries with But the Australian Govern-utilities with a long list of un- Go

reduce changed issues held fairly stendy wards the shipping industry within the orbit of Russia's political

Domestic sugar. No. 8 un- towards agricul-sphere of influence.

changed to one point higher with cents on the its generosity -down only 14 15

ture.

The obstacles hitherto in the ale of 28 contracts Both The National Federation of American Power and Light, American Shipping, Washington, Wy of all, agreement between markets were quiet and irregu-

Chile seem to lar Argentina and 8,000- issued a brochure in 1951, have been removed. Agreement Prices were as follows:- sult block

was the entitled "Shipping Subsidies," in

been concluded hus, however,

Contract No. 4 (world) second most active alock, un which there appeared а com-with Sweden, valued at 50 July

parison of what had been done million crowns in each direction. September changed at 214. Central was top with

with 31,700 on behall of agriculture in the Sweden is to receive maize, bran, January (1054) alares, of 12

1930-1940 (latest then horse-meat quebracho extract, March osses ranged to three dollars availabis). The brochure show hides, skin, Wool, animal hair and May

In return, Sweden will Beptember

July America Of hit with

Dairy products

supply Lorce dollars, and Texas Pacific

machinery for (milk, butler)... $1,205,645,000

Cuba) Contract No. 3324,195,000 Facturing poper, Land Trust Gown 3.59.

Sugar

cellulose, ball

bik July Iron in the

and steel Potatoes Chrysler fell 1.80.

September General Motors Wool

$38,820,000

wire and other goods. November motors, whillo

mission Bethelem and | Cheese |

$87,635,000 A

Is expected In March(1956) Argentina shortly, from Spain, to May 1,937,000 discuss the latter's debt of 2,088 september $1,000,0

$35,515,000 m. pesos, incurred through the November

purchase of cereals between 1944NY ex-dock)

Spot (cents per lb. c.1. $2,034,504,000 und 1950, Spain is the only im-}

lows:-

July

Sept.

Dec

March 1054

May

July

Seit.

NY MARKET ·

23.10

22.17

22.00 Utd

In the trading year just end- ed Australin exported goody worth about £83,000,000 cluding £80,000,000 worth 1 wool, to Japan.

It is the reason also for the Australian decision to ease re- goods. strictions on Japanese Details of the proposed relaxo- lions have not yet been closed.

to

23 70 27.03

-United Press.

ment is unwilling wool exports Urastically,

Exchange Rates

Dusine Pas done in the Joent unoficial exchange parket morning at the following rates:-

U.S. dollar (per 1).

Sterling note (per

1)

Insta

0.020 100

Indonesian guilders (per 100) 20.10

Slam fleats (per 100)

Singapore (Stralia)

FIC plastres (per 100)

Copra Quotation

32.00 3.928

New York, July 14.

Copra closed today at $193. per short ton, asked, c.lf. Pacific Coust. Coconut oil was quoted

considerably with

dis-

1

Japanese buying is an Im- day. portant factor in that market.

It is unofficially estimated helped by an opening that Japanese bidding added a share least £50,000,000 to last year's Australian Wool cheque. -- London Express Service.

JAPANESE BONDS

London July 13.

Júpanese boniin-

*A" (48. of 11899) *(of 1910)

* (a of 1007) *(81. of 1924)

"E (84. of 1080)

at 14 conts per lb, c... West Consola Coast-United Press.

wand

New York Bally

years

cents.

that

10

noon

Sugar Prices In been cut down to around 25,000

New York

New York, July 13. World No. 4 futures closed today two points higher to one point lower with sales of 111

contracts.

October

in Texas and Pride. Qile were at subsidios, on behalf of industrial paper, newa spol, (cents per lb. 1.0.0.

84%%

71

lost one dollar,

121

100%

US Steel cach lost a few cents. New York Stock volume wou 145% 3,102,000,

· Total:...... The American stock Ship operation volume was at 310,000 United Press.

Grand total

80% -United Press.

$132,004,000 bo pocini

.manu-

July

bales. Ordinarily such a posl- tion at this date would have Hittle effect in shaping the price but the experts claim trend but there is

a chance that the re- lending of low-grade cotton by the previously receivers under expired May delivery is apt to keep prices off balance,

Prices of cotton futures closed today as follows:

34.00, nom.

3103

*

Spot

July

Oct.

Dec

344

March 1904

May

July

9531. aor.

Oct.

2.39 blá

Dea

3.84 bid

Unitod Pram.

JAI

'As nom. 3.45

3.43

BAO PAULO FRICËS

Sao Paula, July 13.

Prices of cotton futures closed today as follows (ertzeiros.per kilo):

5.93

July

5.94.

Oci

4.60

Dec.

*5.00: mon."

March 1664

5,87-om.

May

1833 nom.

6.78

$3.03

-15.63

18.00 15.40

In United States, the average palee of 10/10 middling,at,,id designated spot market was 83.34

cents per (b) Sales 3,377 bales.)

Untied Press.

the

10%

costs

otherwise, a Government

of

Motope

cort spokesman said, the medical research involving the use of radio-active materials prohibitive, would be

A Government spokesman said that Britain was prepared supplies of to send further radio isotopes to Japun if they were needed for specifie Ecorch work.

Radio icotopes are being seat from the all over the world British production plant at. Ameriham. · Last -year 3,800 consignments were, despatched, but exports are now running at the rate of 4,500 consiments a year.

London Foreign

Exchange

New York Montros Amsterdam E Rrumple:

Oplo Zurich

Coperingen Atockholm Duuleche Mark Blocked Mark

Landon

10.56

10.34

· 131819-12,1554 10.63

30-801 14.01 14.52 11.001-11.70% 18.43-19.00

**United Press.