1954-11-17 — Page 9

|PUS INVESTMENI

ABROAD

*1929+$17.8 BILLION

7946+ $18.6 BILLION

\\2963 +$23.7 (ILION

OTHER

338

THE CHINA MAIL, WEDNESDAY, NOVEMBER 17. 1954,

United States is Now World's Barker

A Title Held by Britain before W W 1

CANADAL

33

$6

$$$ $$$

LATIN

MERICA

"VUS.PRIVATE INVESTAVERT MROAD

1929 $ILS BILLION

1953 $23.7 BILLION

= $500,000,000

ALL QUEM ARE IN TERMINOR MSA DOLLARS)

EUROPE

BRITISH INVESTMENT

·ABROAD-

1913-

$48,5 BILLION

PALLTIME RECORD)

1052.

$5.5 BILLION

AP Newsfeatures

U.S. Now World's Banker

But Not On

England's

Old

By FRANK O'BRIEN

Scale

Associated Press Newsfeatures Writer

The world has lost its traditional banker, and now is desperately looking for a replacement.

The United States is in undisputed possession of the "banker-to-the-world" title once held by Great Britain, but it has demonstrated up to now a reluctance to do business on the scale England once did.

And

4.

rd by

é

41 Keral

of British pounds. erling-serving to

thick the United

thure to wavest them about.

Countries

mystecat

giveaw

Income

trom

This

Way

the

a really puzzles an di prewar uk, US. overbes 1 The U.S government has ht wanting to be water-

Aling much Jivestments ladied me 11 374 bon

of the Rup bug flow of United | billon dullugg, uhd of the end] left by ka private lendors a Slated wwwment dollars as of 1953, stood at about 23 3/4 development of needy countries. large parts of #t were once billions.

Since the end of World War watered and made to blom by

II. Over the past six years, BC-

to according

the Iniest vestanut culpturing

the Commerce Secretary of the calculations of Humphrey, United Department, the United States Slate Trauntry

Ionns, given, or made

to roudler to Rave as dollars away Slates private investments have hea

e abrood at a rule of about foreign nations amounting to 900 million dollars a year. While aproximately 50 billion dollars. This pattern of guts to nerdy greater than the contribution of Somas 22 1/4 billion dollars of

I outweighing any other country, the gure is this

direct, free-for- investment by Leasing increasing only about four-ter 'hs of 1 per nothing

the United States OVER MA as observer cent of the nation's average pouple of

the slow.ang-down of national

1948 the economies of foreign nations.

does not include 13 1/2 billion dollars in military help. Added to private U.S. Invesi- men abroad, the current total of this lion's contribution

to the betterment of other nations some 73 1/2 billion dollars. This is a tal never matched

But the

for dallars outery meet ng incapital equivalent to about 1 1/2 incestment is unabetod. Forrign

ef is national income, Washington of the World Bank per cent

nations need Investment dollers Chancellor of the Exchequer, by the many billions to satisfy and the International Monetary

Fund f

more liberal United Mr R. A. Butler, say's

their people's needs and desires, the figures

en private and to keep the Communist wolf

story. And times are Very chengel

The American republics moet at Ho de Janeso on Novembe: 22 W UXD4250

economi

kutuałam od The New Wen kl.

IL

is taken as Certum Bal at this

through 1953.

Even in bær prevent modest meeting the Labu negaboura circumstances. Great Britains by any other nation. the United States ad renew

sending nbrand the very string pitch they adell annually

art thi

Autuma's

Sales investment penCIES

But

Both the 13 and the desire Investment do not tell the whole away. untion, too, might feel the

for

bellarment 1J3 intense Thoughout Du free world. And

Camaradesm offers Rself as a The British Bug followed her soluta a lo problems it mys the investments. With the flag went ne, capitalist world has failed battalions and battleships. Who

And a way of solving.

|Britain decided to buy up control of the company that built the Suez Genel

it also took over control uf Egypt.

There was nothing especially As a result,

world Brush, En

those days, about fne

ormed guard with Veriments are tuning to the sondang an

Un tex Stters, the veonomic foregnvestments. It was the Goliath, with ever more insistent way of the times,

plers for mariye dollar irriga-

on of their desert economies. But all that has changed.

In so doing, they point with re-

verseas investor. Why

Great and powerful nations

proach to Britain's past record havo in recent years stood by with nothing stronger in hand

diplomatie 0

note while

should not the United States bothan

is bold a foreign investor 09 smell and weak nations expro-

fell on hard times?

were the British before they priated huge foreign on invest- ments. Both Great Britain and Francy are seeing their coloniai empirès-scenes

The accompanying map shows

of

TRADE and COMMERCE

COMMERCE SECTION

BRITISH MOTOR INDUSTRY

Rising Production And Big Export Increase

GRIP

STRENGTHENED

ON WORLD MARKETS

The story of the British motor industry in 1954 has been one of rising production, increased exports, and impressive expansion schemes designed to strengthen an already firm grip on the world's motor markets.

During the first nine months of the year, Britain sold overseas £259,000,000 worth of motor

Aust.Employers India May Force.

Need Labour

Canberra. Nov, 16. There is very little un- employment tu Australia at the present time, and many employers are hard- presed to get enough labour.

At the end of September, there were 635,000 vacant jobs registered at employ- ment service offices.

Blanest demand for labour was in the building industry. Nurses. sales sta, factory and domestic КОЕНСТВ

were alno badly needed.

Personn

receiving un- employment benefit in Aus- tralia during September totalled only 3,880.-China Mail Sprelat.

HONGKONG

vehicles, parts, accessories and equipment. This STOCK

over the t

represents an increase of £35,000,000 industry's exports for the same period in 1953.

Of vehicles alone-cars, com- mercial vehicles and agricultural tractors Brilishi manufacturers delivered to other countries, by the end of September, 1954, total of 463,000 unit worth,

£181,000,000, Increas value of £23,000,000 Over the same figure for the previous ver

11

MAINTAINING LEAD

The latest export com- parisons obtainable from thr the world's principal motor vehicle producers show that Britain in maintaining her substantial Jend over all competitors.

00,000

cars. This

with Britain's car exports alone comparen

nearly 188,000.

Sales of British motor vehicles Belgium, Holland and Switzerland show in cach case a in steady increase

over those

In the Orst NIX months of

195.1 British motor

-

last year.

Belgium, already Britain's second largest customer in Europe, purchased up

the to ent of September 14,000 and commercial vehletes, worth £5,000,000, compared with 12.- 000 during the same period in 1953.

HOLLAND BALES

care

Sales in Holland have in- creased by more than 50 per rent over these of last year. Thus, in nine months, 10.000 car and 3,200 commercial vehicles have been delivered to buyers in that country. The value of these exports has risen from 231⁄4 million to £45 million.

facturers consigned to overseas buyers 254,000 curs and <om- mercial vehicles, nearly one- third more than their clopest

United rivals the

Sutes- whose export fluure fur Chat period was 102,000 units.

Exports to Switzerland in the The third largest exporter of | first three quarters, of the year cars and commercial vehicles lo increased by more than 10 per to cent over those of 1959 to reach West Germany, who sold other countries, up to the end. a total of nearly 3,000 of June, 132 900 units; including worth well over £1,000,000.

TABLE I

COMPARISON OF EXPORTS OF VEHICLES

BY PRINCIPAL PRODUCING COUNTRIES

ܕ ie}

January-June 1953-4

1954

1913

units,

Contiuercial Total

Vehicles Veinelos

CATA Commercial Total

Vehicles Vehicles

EXCHANGE

(From Our Correspondent)

done on the Hon- Business kong Strek Exhange this horn-

K

$1,158,140, aminted I Nous quotailone and Die man- big's transactors: BILA KUN HUYNÍM NELLERS SALES BANKS

Thank INSURANCES

at X Laumburg Voorwinter DOCRA, NTC

Japan Into

High Price Market

New York, Nov. 16.

The emergence of India as a strong exporter of cheaper textiles might force Japan and other countries to concentrate on higher priced goods, a visiting British cotton expert said here today.

According to Women's Wear, textile uubileation, dally

Mr John Hardaker, sute promo- Iton and publie reludiu

slirector for the British Cotton Board, said one trend worth watching Is the role of inila In the years ahead,

"Iain is up and coming and| now Bims to export about 1,000,000,000 yards of cufton fabrics

per year,"

was quoted as saying.

World Cotton Markets

New York, Nov. 16. Foreign and domestic trill buying kept colton prices edging into higher ground today for the turdesetom in a row,

143

Orleans

Since there will probably be cheaper goods. is may faree After woring gain up to 56 other countries liko Japan 1 points i bale, the market closed | push up into middle and better her 4 points higher to 2 points priced goods. This will tighten | tower," Opening prievs wryo up competition mid make cution

New 9 points. more competitive than ever closed of 2 to up & points, belove In International worldh murkels."

Locul Buying on technieni rea- Hons supplemented a scattered dermanl

commission Through anticipating further under the loan programIO when the figures are issued tomorrow.

€71-

English cotton mills nee 1945 1955 20 1030!

joying a pickup in demand at home and from abroad, he said, unding

the tone of market is firm.-United Press.

thni

Do 1/25

42.

R 20

141471

Provident 101 Wheelock XD 110

20,40 700 - 26.20

fa 10

13

19)

7.10 7 Ju

Chicago Grain

K What! Dak

LAND PIC 218 totes

HK Land

13 13 70 500 6 13.70 14300 1 DU

1000 12.00

63 631 CPTO are the

2240 22 0

Market

theheivy

talı

Trading volumes and open in teresis in the Exchann: today

WODO

Month

Volume

Open interest

Dec.

00,000

15,000

Marr.

77,100

012,000

Sat 315

Chicago, Nov. 16.

May

£2.700

DES,700

100 v #13 2003.BO

Thumphreys

225 24 24.70

500

23.00

1300

Realty

2.125 2.15 5000 UTILITIES

Tran

187 140 Yaumati Yerry 150 158 100 154 400 107

23 2.15

Grains were frm to strong in active declings on the Board of Trade todas.

July

4,700

419,100

Oct.

03:00

102,200

Dec

1,500

10,300

Мат

1,500

17,300

"Total

200,100

2,791,100 balca

Strength in wheat and corn

were traced to additional sales

NEW YORK

of increased export shipments of wheat.

Prices of futures closed today

as follows:

Spol

Dec

Mar.

My

July

Oct

Dec

Mar.

Star F10 1930 1300 10.20 com to Norway and prospects

C. Light (0) 165 1600 0100 64-16.50

1500 13.30

C. Light (N) 13.30 13.40 800 13.40 Buying in wheat futures was 3514 2914 20235 50 stimulated by nows that 500,000 1700 ch 28.50 { Revis of U.S. wheat and feed Telephone 29,30 29.00 200 29.70 rain will be shipped to Turkey to plemish shortages caused by recent crop failures.

Electric

Macan Elec

INDUSTRIĀLS

11.30

carett Hope

17 10

STOIUS, ETC.

37,33

Starting immediately. the 27 27.20 3300

2000 37.20 United States will give Turkey 100 27.40about 100,000 tons of wheat

.... 10 1.40 2007 18.30

300 10.20 through a purchase with Foreign Crawford 20,00 100K 44 27 Operations Administration funds, and 300.000 tons of wheat and

Dairy

statsun

I

COTTONS

Britain

U.S.A.

W Germany.

France

107.439 101.720 29:140 85,700 16.MI

233,032 0.010 102,338 3242 131,812

153,570

205,841

Textile Corp. 7.710 Nanyang

1.160.

68,100

130/350

:

03,837 10,000

81941

72,180

42.722

1,093

53,810

Yangtze

10.377

4,134

1221 2,028

19.704

15.01

16.500

Allied

0,937

$5.133 9.770

24,900

+

italy

canada

TABUA II

EXPORTS TO BELGIUM, HOLLAND AND

2.200

HWITZERLAND

+

January-Septembre

Number Cars Commereja? Total

Vehicles Venteles

Cars

Value £ Sterling

Commersial

Vehicles

Totul

BELGIUM.

A

1953

1954

0,701 11409

2.240

1143

13,927

HOLLAND

1033 1834

0.271

2,492

0,760

2,089,217

1,202,106

10.061

5211

3,020,710

1,557,000

SWITZERLAND

1633

19

a con-

This pinch if U.S. official Invest- mut abroad trails away and is not replaced by an increase in private investment, for over- Sues Investment which raises the standard of living of other people creates expanding demand for

Western

on industry. the products

The only visible answer to the

at this time is problem at certed effort by notions nee

nceding investment dollars to create sul- neient

for the U.S. security investor, and to offer him high crough returns, to tempt his dollars abroad,

Vote-Buying Alleged

very large In New York

private U.S. loveturents abroad investments, melt away. Et the end of 1993 and their direction. The

lower right and corners

overseas invest-

insets In the With all this on the recprd, to-

Albany, Nov. 10. upper left day's, grospective overseas inveS-

show the for is en moties that it a foreign The Republienn Attorney- story of Brically ment at its peak in 1913 and country decides to expropriate General of New York state, Mr claimed and his investment or regulate his Nothandel Goldstein, today; and United States private business in discriminatory today that he had evidence Investment bread in 1920 (the mareer, he cannot expect the that the

Party Democratic pre-World War II U.S. pool), Marines to appear as this try of "bought votes in an election narrow m margin, re- a turned a Democratic candidata

in

1940, and at the end of 1953. alam ves up.

To givy these figures equal

boon converted to dollars, andį

moening, pounds sterling have

doliere have been converted to

dollies of 1983-54 buying power,

which, by

as governor of the state after

November 2 elections. tho

Mr Goldstein alleged that the Democratic Party withdrew at leust $20,000 in 85 bills, from a

on the basis of offelal U.S. So long as the United States local bank on the eve of the

records.

Dconomy

MISCELLANEOUS

NEW ORLEANS

Prices of futures closed today

as follows:

Spot

Dec.

Mar.

Alar

10 10 10 3200 10.20 feed grains to be sold by the

Judy 1900 10 10 Commodity Credit Corporation.

5.00

брутра пов 5.05 23 4.20-4.275 1980 mg

World Rubber

Markets

Value

Singapore, Nov. 10, C

After little support of trade, al 1960.377 1,867,822 4,040,000 3.272.739 3,507,174 4.803033 the opening the rubber market cased im lack of support and the some liquidation. Toward 3.2.113 close the market steadied slightly 4.670.700 on some short covering.

Futures closings were: No. 1 rubber por ib.

Dec

J

£

Feb.

оде

Exporters also said Turkey has asked

од offerings miition bushels of U.S. red or white whent to be submitted after the close tomorrow for reply on Saturday.

Soybeans figured in export sales today with the sale of small amount of beans to Den- mark and Japan, There also were, reports in the trade that Denmarkt bought small amounts of soybean meal.

Oct.

Dec

Mor.

LIVERPOOL

34.65

34.16-17

34.79

H.40

Futures closings, American middling. 15/16 inch, in penco per lb. were as follows:

Dec/Jan.

Mar/Apr.

May/June

July/Aug.

Oct/Nov

SAO PAULO

31.73-70

31.25

32,07

32.10

12.10

Futures closings. In cruzeiros

Wheat closed up 1 to 2 cents; per klio were as follows: soybeans up to 1% cents.

(In the

Dec.

40%

£27

1070

QBC,R14 9/31042

180.461 230,015

81 13/10-01 13/10

$,077,2570 1,162,557

Jr.

61 7/10-01 9/15

No,

rubber por lis

unqueled

lb.

A1 Winnipeg, whient Wak priced at 102% cents to No. 3, and for No. 5, it was at 157% cents-United Press.

Маг.

May

July

hel

816-01

No,

rublje

per

Fib

Dec.

No. 4 rubber por

per tr

80-804

Dec.

79-70114

Blanket prepe ....

70-17

Nin. 1 pale crepe.. 6014-891%

London Foreign | New York Sugar

Exchange

New York

Montroal Drucke

Oli

London, Nov. 15.

2.70-2.70% 2.71.3/10-3713/16 139.7215-339.7735 20.019-20.02, 9211-boar 14.501-14261, 11.775-11-7734 West Market. Zurich...... 12253

Others were unchanged.

Paris

Stockholm

Press,

Market

Epot, rubber unbated 813-812

CHICAGO PRICES

Chicdgo, Nov. 10. Prices per bushel in cunts:

Closing prices Wheat, No. 2, red

Spot

NEW YORK

227m Now York, Nov. 10.

Futures closed today 65 to 105 Dec. 229%) 22736(1.) .. 22034~!}

231 World No. 4 sugar futures points lower with sales of 140 May closed today unchanged to 2 polnis lower with sales of 12 contracts.

Domestic No. 0 sugar futures closed 1 to 2 points lower with United sales of 58 contracts.

New York Foreign Exchange

Conada England-melal

T

New York, Nov. 18.

$3.03-3/18

Uneficial 30-day Intures 90-day futures New Zealand South Africa

t

תנה

July

Dec Mar.

contracts.

Lower primary markels and a Sept. Jack of consumer interest in physical rubber brought dealer Corn, No. 2, yellow

in the terminai Spot liquidation markets.

A limited business in spot May Easiness in the domestic con- rubber included some one sheets July

Sept, tract was coupled with the inat 274 cents, but subsequent crease of 50,000 tons in the im- sales were made at 27% with Ryo port quoio for 1954, which late afternoon sellers cutting Dec brings the total quota for the the price down to 2744 cents.

Spot No. 1 Rss were qualed Qala year to 8,230,000 tons.

Futuro

Διατ.

2203%

214-214 21555

157

15032-36

10315-93 1587

13244-133

30.60

30,75

30,50

United States, the average price of 15/18 mídàling, at 10 designated spot marketa was 93.80 cents a pound. Soles at these centres totalled 49,393 bales.)-United Press.

LONDON WOOL TOP MARKET

London, Nov, 10,7 The wool lop futures market broke heavily today with guaóta- tions down from 2 pence to 4 pence;, the close was okay?. Turnover wha:162 lots of 5,000 1bs.

Closing prices, ware!

closings:

at 27% cents a pound. Prices: Dec.

Dec.

27.00 Mar.

8415 243M

Ded.

Jan.

Mar.

Contract No. 4 (world)

Mar,

2140

3.20

May

27.30 Soybeans, No. 2, yellow

MAY:

July

27.20

279-11/10

Mar.

3.18

July

Spot

27an

Sept.

2.64-2.70

Sept.

27.10

Nov.

27734416.

Oct,

270-11/16 2.2014

2.30-1/18 United Prom

May July

Dec.

27.03

Jen.

280-2001

Dec.

Bept.

LONDON

Mar.

Jam.

Spot-conte per, lb, fab

Tho

3.27

Contract No. G

25% pence per lb. Prices:

market was barely May steady with spot Rss quoted at Bept.

(Mar.

July

28134-39 - May

Barley

Жал

5.43

May

BAT

Jan/Mar.

2434-244% 21-2414

Spot

Sopt NOV

15.01

Apr/June

New York flour,

200 16 sack

$15,000

1.0%

July/Boot.

msUnited Press..

«duty)

par ib. ck

**United Press.

Out/Doo,

Denoral marketi, çit mains porlag Nay

T may24 1/18

Dao.

Jan,

DOW-JONES AVERAGES

continues its present elections, le gaid he had for- growth, presenting, tot, rafo in- warded his ease to the Federal On this buis, Britain had-vasimont opportunities of home, Attornay-General - in Westing- OVERDONS Investments in 1918 there is Huila russon to balleve ton oqual to 48 1/2 billion 1958-64| American capital will go abroad | Rändis of the bloction gave dollars.

New York, Nov. 10. According to British on a much bigger - scale) unless | tho

Dow Jones closing averages Harriman who is scheduled.' to government records, from 1905-t is ontloot drove by Ironbound the governorship to Mr. Averell 1919 British overwoon

op Wall Street, today wire an invost-nagurances jof, security, plus a succeod - Mr": Thomas... Dower. ments amounted unnually to higher juld" of rotum, than can Repliblican, next; January,

The

followay about 7 por cont of Great be bound at home,

unsuccessful Republican can

no industrial Britain's national income,

didate, Senator levins, Ivos, was 1 something else tins bver: hhp-| belleved to have lost, Big, à more There are no much figures in porfel is that was fünisown ko 10,000 votes, a very closs margin the United States recond or Deltakan, big, viktorina oversole in the cotmáry"; meets populbu solely, private invģitinanti

Tutulijon

**3 Blocks

41-bonda

No NY Stocks

York Bloc

No. 1 Raw spot i......:251⁄41⁄2-23}} Bettlement house tormi

· £3 13/18-4336 Ketate crept thin coating 20ss

UGAMSTERDAM

The muricot Tiya, Gulet Prizes

·In" gruffctors, per kilogram. CIF

1314152

NEW YORK SILK FUTURES

New York, Nov. 18.. Bild futures today olosed uns

Exchange Rates changed to 15% costs lower with

nó galos reported. Wi

Cpsing prices were;

unatokaa

Kterling, notes (per"