1955-03-16 — Page 9

AIRLINES

AFTER DOLLARS

American airlines flying international routes arc making preparations for what they hope will be their greatest travel year,

Steamshily lines alno expoet a continuatlon of the strudy climb in pagvenger tatals under of World way nitize the endt War II.

The airlines will be trying-- by Increasing flights, expanding low inre service

and

and pushing "Iake your vaention now pny later" plans - ‘o meriase stil. further their share of travel!

stars

During the past six years, as thi a, onany g mup > W, Jeline

palakkad

drave Ted

three directors 11 Hoited States

NORTH ATLANTIC They increased the num- ber of

PASCHACEN carrled across the North Allantle by more than 125 per cent, while steamship

gained only 38 per cent,

To South Amert.

the!

mirtine

plesauges jumpe i 146 per cent

while Sternship

gafas at all Acre the Paithe,

airlines now are carrying

per cent 1916-190

520

PARLIMEN PLANr: thum

they did in 1946,

ship trude

cent

Whole the

50 DET

On twe of them unler, how

ever, beats

pot suna Uhran aireraft

slightly 21901209

y

Lusty at 121 R10,000 mustal the North Allanbe Tual while 580,000 New rave cleanlage vent of the trade

17

TRADE

Free Market Dollar Rate:

Rio de Janeiro, Mar, 15.

The from market dollar rate continued soar to- day and reached the all- time high

of 80 cruzeiron per dollar-seven cruzeiros above the closing quotation last week.

has been

The cruzeiro losing ground for the pass few months but the decline gained momentum Fant week, with the national reaching Die rurrency lowest level in Brazil' Irintery.

10

Spiralling demand for dollar exchange was attri- buled

slump Bin Brazil's dollar Income re- Kuiting from seriously re- duard

coffer United Preen.

exports,

THE CHINA MAIL, WEDNESDAY, MARCH 16, 1955.

COMMERCE SECTION

and

JAP TRADE WITH SOVIET BLOC

Substantial No

-

·

Pickup NEW YORK

Anticipated Under Premier Hatoyama

By JOHN MORKA

New York, Mar. 15.

substantial U.S. financial circles here anticipate no pickup in the volume of Japanese trade with the Soviet Union and Communist China under the leadership of Premier

HONGKONG Hatoyama.

STOCK EXCHANGE

(From Our Correspondent)

Beness done al 1!iཐཱ་ Hong by kong Stock Exchange this chora- That, in amounted to $830,020 NIMIT

』H! aptareturtions rarl the

Ship: pru- vided transportata be 110.000 Aston traveler

1954. 102,000 frted by the ancianes

It's a differe

over-water

Anerke Mori

south by

**

atr 220,000 65

to 45,000 on hip

Pains

SHARES BUYERS SELLERS NALES GON LAANS 1

3% RAKS

Both ah and it lines have

been able

uyer

t

INSURANCES

this

(1940) (0.

favs Be

um th

South

1254

IK Barak X All

1370 1300

East Asta

1024

Lauate SHIPPING

S

IPad A Stack-

Asta Nav

72€

JOURS, ETC

Whit

WAL

Thath Wimbor

24 30

7471).

T10

LAND, P

JIK How

XU

XD

+3

ብጉን

hampices.

Xo

21 FK)

1

|

the six-yean perled cause of the deadly rear drug

mlmber

atardd

זיין

atvarat

aiture The Onel rit the war The Pie result of The high postwar level at g COMVIK nelivity overseas, Lu rising level ut American

busáneas Investment in foreign countries, and the fact that in repent years Ameneang have hart more vucniton time

more money to spend

BIG WEAPON

One of the big weRPOIN in the airline drive for an ever-increasing share of the travel irade is "pay later" pincus introduced flest by

ways

Air-

Pan American World on May 1, 1954.

spokeszi

A Pan American

describen "pany later

as "prets-

ably the single most important travel stimulater that has beers

devised in recent synus “

Heally UTILITIES

Tra Xp

DOGO A TO DRI

T'... 213

200)

is th

} mat. F

170

123

300

173

174

[ 14

3949

27

100

17 10

ין

C Lug N

XI

INDUSTRIALA

Cement X AH 25

srones Er

"

In commenting on Premier Ichiro Hatoyama's victory in the Japanese national elections, hope was held for some improvement along these lines by these same circles. But no one anticipates an improvement in such trade to a level which might appreciably improve Japan's economic balance and overall international trade position.

A

་

ין

:

thespele

Mi 1 procent volume of lathe with the, a Pa apungn pledge to ¦ Swat bloe nation, Totale wah Red Chuna i result at that mopvived

nd the Soxst tum it is felt, would still be randi in the light

ta. tockup in trade vl the auf! be tourinal an) its effect kua mie plight.

m prychiol geal than actual

Evo if Japan nould ven- i 29. 12. sucrerd in mahting the

World Cotton

Markets

ut Jupin's

ENCOURAGED

Japanese bisINĖSSMEN, It painted out, would undoubtedly

TH

WHA

ooouraged by the Hatyai Achninistration to explore all the sponsabilities at

of expanding track with besth the Soviet Unki utd mutand Chirag.

And the

Mart

13

New York, Mar Cotton

Bell theoughout the afternoon but a sudden spurt half an home be- fure the lose boosted prices as $130 baté How- ever, 9 cents. of this rise WIS

at 12.30

P.M.

+19

- Letest 11 development

Then again, China might not be lou eager to take in exchange, one of the Japanese manufac- tures, such as textiles

In 1953, Jupan's exports to Communist China Lotolled 6.35 per cent of $4,500,000. or stal Japanese exports. Japanese, impnts totalled $29,700,000,-

per cent of the total

IMPORTS DOUBLED

from

Red China

Imports duled and exports quadrupled

United States. pronted vat, would prob- | in 1951. ubly out stanud too Brinly in the 1 way of such attempts by Japan | 1953 to bolster its trade positum Virxi

of course that such ex- pansion did mot conftet with the American

policy of

of restricting just by the close, Nearby nde in s--callel strategic goods

as governed by the Battle Act March expired.

The Battle Act imposes a ban exports of strategek goods by nations receiving aid or credit from the United States.

#finni trading range 33.4-50, which was 14 to 18 points above the previous close. 1420001319, At the close, prices ruled 10 to

2001,8

100 17 20

1X 1300 16 points higher.

18th O

2290 12 13 80

2500 13 po

الز

Truding volumes and open in- terests in the Exchange

December

13,400 200

Lodiny

AUSTERITY POLICY

amounted

in

STOCK

MARKET

BEST GAIN IN

16 YEARS

New York, Mar. 15,

The stock market today, on the heels of a $10,000, 000,000 loss, chalked up its best gain in 16 years.

Aust. Third Biggest

Steel Producer In Commonwealth

Sydney, Mar. 15.

In terms of steel production Australia is third only to Britain and Canada in the British Common- wealth, and fourteenth on the world list, states the BHP Review published by Broken Hill Industrini shares, paced by Proprietary Co. Limited, producers of Australian lenders in the aircrafts, steels, steel. rails, metais, viis, shipbuilders. motors and a hust of special ¦issues, soured 7.02 points on nourly wiping out yesterday's $3,000,000,000 loss.

Individual gains ranged over 14 points in the group used i

the averages and to more than

points elsewhere. The overall gain was the best since Sept. 5. 1939, the day after Hitler's Troops murched on Plan.

I

7

The Industry has spent nearly £A50,000,000 on new capital works since 1945, states the Review, and capoelty for mak- the Ingot steel has been in- creased to 2,400,000 tons

year. Lost year the plants hud an output of about 2,100,000 tons of ingot steel, computed with 15

little more than 1,000,000 tonn in 1949-50.

STRIP MILI.

Port Kembla

New South Wales) is now producing more

and it will go |

TECHNICAL NATURE Market men said the rise was Jeclinical in nature, coming after five sessions of heavy selling in the past six trading days. This logot steel than Newcastle (New selling was overdone

(South Wales) In the pinion of many in the street further ahead when a continuous with normal inferval of profit- strip mill and finplate plant are

concern | Completat the y..... taking accentuated by

the market investigation over now under way in Washington.

Tumover totalled only 3.161.. 0 shares compared

with yes- terday's 4.200,000.

Of a total 1236 issues traded.

800 were higher, 198 lower.

Rally kept pace with indus trials, climbing 3.38 points on average in their best gain since Jan. 7.

Utilities added 33 cents.

AIRCRAFT FEATURES Aircraft fentures included Vought, up 3 points or more. Douglas,

United and Chance

Total Japan-Russzal Arac

less that $1,000,000 Although this gregate total increased to about $24 milion in 1954, the volume! is considered here altogether in- ;

to offer much hope consequential of any sizable increment. Besides, It is pointed out, Russia, like

In the steels. Bethlehem rost Japan, needs raw materials, and

more than 3, Crucible, Republic, two-way trade between the two

Armeo more than 2 points. countries

accordingly not

Activity

centred in General viewed as complementary.

Dynamica which rose more Somo experts feel that

in thon

2

points; Pennsylvania 'his ilme. Mr

Railroad, up a point and Royal

in general, American Inancial pressing

Hotoyama

tetrelts foresce a continuation. of

muy

in effect br

Dutch, with its gains of nearly

points.

The New York Stock Ex-

was $4.-

the present austerity policy, with strongthening his Government's

123 position

Whe

world-wide ALIN extually

inplasia un

negotiations now developing new export markets, Begolla

going on in

change bond Geneva where

member nations' 970,000.

The

Japanese gooda byt of the General Agreement on

prefurtion costs and in hotding

i

were

Electric

240

35 1000 ... 341.

Aical's

34,

Telephone

March May

Yohane Open interest

2,710

0,1xx

560.000

JO'

400 **

1100. 20 94

831,500

151,500

★ be 1. ድ አ

30 s

35.500

22,500

210,300

for

22 20 22 40

300 22

Maren

(1,000)

1203,200

400

22.80

May

£31.900

20 (a

21

July

6.800

13 30 13,

Tont

25 26

233.com 2,183,100 bajer NEW YORK

"

as folleges

$115

500 ...

#90

Sk/1

Marty

Ma

A H

i

1 ༣

the six months the plan W

Watson

i effect at Pan Amenean last) year.

UN

1 Chawton d

LOTTONS for nearly

three on dollars in

Under this

system, a travel- -whit

jer neod pay only 10 per down on either a Ticket or a -Del-

complete tour package expensta paid tourist trips the airlines have set pete with fouret cruise ship

The airline taxe

up to a

care of at

Jinancing delas and the cus- torner has up to 29 mois to

pay the balanse of his fare

Textile Cup Ins

MISCELLANEOUS

Yangtze Alted

4 15 4.20

New York Foreign Exchange

Canach

With the start of the peak Engli summer seasoni for Europe

travel drawing near.

the two

big American oversens airline Australio

operators--Pun American

TWA-have hanged

for stepping up service

New York

to the main outlines of the deflationary pulley instituted ;

Premier by former

Yushida

Prices of Batures closed today, axit 14 mths ago.

July

October

Deventer

Muxh

May July

Sonic

sources here anticipate

present

In

Tariffs

and Trade are seeking a formula for slmiine trade

There is illaly to be ore pressure on the Western bloc of nations to arrive at

change

shares.

some follows;

32 expired (130 GMT form of mild relaxation of agreement in Geneva whereby

NEW ORLEANS Prices of futures closed

full.ws

34 360

33 50

3303-06

3415

34 28

34 31

34 50

M416

today,

i

Japan could prost by trade with restraints business

the West rather than turn to the credit, with the

the possibility that Soviet bloe, it is pointed out by money will become "less fight"

observars here--United under

the

regimexpert Interest rates for business

probably

wit

SAN, it is expected.

will ency

الادرية ل

encourage

voxe

Pross

World Rubber

There is rome belief, Ko, that!

Hatoyama the

Administration growth of economie nationalism within

Japanese business men ! and financiers will be encouraged to undertake new commitments

their own.

There

will be jess emphasis, Felt by some Prices of futures, American observers, that forgeign invesi- lower

Mar

15

Sport

$1.01 25/32

2.71/30

May

unoktickat

61-270

Jak

- fatures

2 TU 1/10

Chat

17-

futures

2.18

De

2.30%

Mo

TOTA 2000

3243

July

United PreAT,

and South Auta plans indio

TWA, now inaking 36 ever-

sens fights a week,

1

33.73

24 expired

33 (4

33.04

24 13.14

34

34.42

LE

an

LIVERPOOL

middling, in pence per ib. closed ments will will be sought willst London Foreign

The trans-Atlantic total to 78 127

May und in Jume run it

NORTH WEST

Pan American plans increase its European

Vice

tho

Exchange

10 02.

te

New York

str-

by 32 per cent. In Pacifio, North West exporta to nearly double its business from the West

Coast

The steamship

nonabje

Monreal

Amsterdam Brussels

Copenhagen Liabin Stockholm Weal Mark

to add and take off equlpinest Zurich

with the case of the airlines nevertheless expect to se

#12-

other increase in their passen- ger totals,

Capt. Gutseppe Cosulich,

chairman

Passenger

that

which

of the trans-Atlantic Conference. states "additional tonnage will

be entering service this year will substantially | In- number of berths the North At-

creuse the available lantic."

On

PASIA

Lam, Mar

14

279 6/16-279. 2742-2 741 101-10 011 13402)μ-1300S 19.0445-10 394 8005-30.10 14.041-54 547, 12.207-12.27! -Untiled Press

Exchange Rates

was thɔne

tiny as follows;

Mat /Api

May/June

July/Aug.

Oct/Nov

Dec./Jan

Oficial values Include

American huddling

13/16 inch American S. L

'th Inch Mexicna miidling -1/32nd inch

SAO

The

Markets

Singapore, Mar. 15. rubber market opened on overscas advices but

as later steadied on political ten- heretofore. #+3 will technical son. The market. however, 31.41 | assistance from abroad

falled

,

sustain improvement, and caved in the afternoon on liquidation and Future closings No. 1 rubber per lb.

31.20

30,97

30.70

201

30.36 cuttons

31.20

middling

33.03

33.24

PAULO

Futures closings, in cruzeiros per kilo, were as follows:

FULLER REIN

East, revolving

the rubber per lb.

No, 3

The No. 4

样

Spot rubber unbaled Blanket creDD

No. 1 palo crepe

profit-taking,

Apr. 01-6396 May 03-8916 June unquoted Apr. 88-88jā

87-87 BOR-817 884-83

80.31 83-04

volume

American Stock Ex-

volume

000,000

averiges

was

Dow Jones

closing

on Wall Street

today were as

Jo industrial

me 34300

02 50

149.31

150.21

20 rail,

19 utiles

65 stocka...

ig banda

Comm. future price Index

YESTERDAY'S PRICES

Acy.

Alden Ine Allied Chemicals All Chal

American Affline American Metal American Smelting American Tel & Tai

American Tobacco Anaconda Couper Arnico Steel Armour

·B'

Dalwin-Llona-Hamilton Baltimore & Ohio Bendix Aviation Corp Benguet Conn. Bellektin Steel

Boding Airplane Canadian Pacific Railway Cane J. 1) Co. Chore National Bank Chile Copper Chrysler Motors Comuneretal Credit Commonwealth ice. Consolidated Edison Continental Steel.. Corn Products .... Crane Co......... Cuban American Bugar Curtis Wright. Dupont de Nemours Eastman Kodak

General Electric General Foods

General Motors. Gulette Safety Razor Goodrich (D. F.) Co. Goodyear Tip & Rubber Hostake Mining Co.

But the new emphasis will be on giving Japanese interests a

and broader

fuller rein and

push psychologica economic development of nation. I

pointed out. It is felt that on the whole, International tension in the Far

about

NEW YORK Formosa

Futures today and other critical areas of con-

closed un- tention in Southeast Asia, rather changed to 25 points lower. than wholly Japanese factors, The market was off ng much serve 10 exercise the greater 18 1⁄2 cent a pound during the

Machines lower effect

disposition of day

and International Harvester Singapore cables, but rallied International Nickel 3.04 average price of 15/16 middling American investment capital

Much importance is attached slightly following Secretary International Tel * Tel

of International Paper 3050 nt 10 designated spot markets 1483 was 33.01 contr.

Sales at theso

here to the

Mr State Mr John Foster Dulles" selections

John-Manville Co. talk on the Far Eastern situa-Kennecolt Copper 27/0

make in totalled 7,470 bales Hatoyama alderod two very

bling 1.80 centres

tion. Spot No. 1 Rss were quoted | Loskheed Akerutt

Laws Incorp... important posts in the Japanese unchanged at 3 cents a pound, Love Blax coment Co. Government, namely that of the nominal, futures:

Minnesota Mining ef Finance and the Ministry

Alontutornary Ward National Cash Register Governor of the Bank s

Nalionai Distaleza

Dunton

local In the official

turke this oxchange morning at the following rates: -- US dollar (395 $3 Sterling netes iper £11 Indonesan rumah (per 1005 Sam teals per 100) Bingapore (Strai Indo-China

U. S.

Plastres (por 100)

May

July

Oct

Dec.

Mar

the United In

0.35) United Press.

20.10 29.13

30.00

31.10 31.20

States, the

what

the стр

the

It is felt that the reappoint- ment of Mr Hisato Ichamada as Financo Minister and Mr Eikich! Araki as Governor of the Central Bank of Japan will relect Mr Hatoyama's desire to proceed with the deflationsty policy at the last few months.

WELL KNOWN Both of these men are well known In US banking and Government circles and are high- ly respected

what

ir con- sidered their Bound monetary and fiscal judgment.

There is some scepticism here over Japan's ability to trado- profitably with Communist China and Soviet Union, where !11-la felt, economic policies pro Unkod.

strategy

оп

July Sept.

Дес

MAT

May

London

30.35

3035

30.03

29.55

27.10 28.83

LONDON The market was erratic. 1 spot Ras were quoted at pence per lb. Prices:

No. 2 apol Rus 30-2014 Settlement houro term.

ADHI May June

Abril/Sept

Oct./Dec.

International Business

National Lend

New York Central Oth Elevators

Pacine Gas & Electric

Pariłę. Western Oll ... Pan American Airways No.Paramount Pictures 28%

Papa Petroleum Pittsburgh Piste. Glaes Radio Corporation

Reo Motor

Republle Bleel

2516-20 2012-20

Shell Oil Co.

General marketa,, elf, bas,

Mar

April

·May

Zstate crepe

STERDAM

The market was steady, Prices"

Finciale Ou

Socony Vacuum

Southern Railway (Com.) Standard Brands

any

Standard Oil of Callforsila Standard: Qll of Indianą ... Bungard Oil of: New Jorney. Blokley+Van Camp,

Studebaker-Packard Corp. Awift Cow.

Tax Co.

Union Carbide le Union' Pocillo Hallway'die United Gar, Imp BU.. Gypsum

irectly to political out, might closed today, 'in guliders"pér | 1.9. Line Co.

Japan, it is

and China" (unwi

willing to share kilders eir Aprit us"follows:

her remourrons of raw motion, chica

ing, cost, and from one for 9: No. 2 ruwver

KACH SYMBOL 1954 SQUALE SIĘ DOO

POSENBERS

to do so only in exchango "for

example, and might be willing

No. rubber

U.A.“ Hubbar, kan

United alates Sesellingt

Warner Brow,

Westinghotiso","Elsetrie

Woolworth

201

7424

|

they had tuken 74 per cent of' the extra jobs created at New- castle and Port Kembla, since 1949.

Singapore

Stock Market

Singapore, Mar. 10.

Brokers today quoted the fol- lowing stock prices:

British Borneo Pertoleran

Syndicate Consolidated Thi Smelter,

Ordinary

Freer and Neave Ltd..

Ordinary Bo

Fraser and Noave 144.,

Kislor

cum D

31a0d

30% d

$1,07

$300

Hongkong & Shanghai lank

Corporation

Colonial

Mulayan Breweries

$450

$3.02.

$2.70

$1,07

126.25

$44.40

$16.70

Ordinary

$11.60

$2.80

6634 $3.75

with div-Ching Mati Special.

The BR Review says That the directors of Broken Hill Proprietary Lid have sought to keep pace with the growing demand for motor CALTS, T Names Hotel frigerators, washing machines, Singapore Cold Storage railway rolling stock, building Straits Trading

South British feniranje e materials, household effects and Straite Steamship domestle and office furniture. United Engineers

Apart from the huge capital Hongkong Ten investment by, and on behalf of Petaling THE EHP shareholders, the two factors which had been respon- sible for the Increase in steel output were Improvement in cool supplies, and migration.

Woems Brothers

SUGAR MARKET

The New York Sugar Market Migrants had in no sense dis- quotations were not received this placed Australian workers, but morning.

EVERETT

LINES

EVERETT ORIENT LINE

Fast regular freight

passenger Bervice to

Philippines,

Indo-China,

Rangoon, Calcutta and

"NOREVERETT"

Arrives Sails

refrigerator

Korea, Japan,

Slam, Malaya, Chittagong.

Mar. 21 from Manila, Mar. 22 for Singapore.

Rangoon, Calcutta.

"LENEVERETT“

Arrives Sails

Penang,

Chittagong

8c

Yokohama

Mar. 28 from Singapore.

for Mar, 28

Kobe &

(Accepling cargo for transhipment Kobe/Pusan and Kobo/Okinawa)

EVERETT STAR LINE

to

Fast regular freight — refrigerator service Japan, Malaya, Colombo, Bombay, Karachi and Persian Gulf, (Subject to inducement for direct call Korea)

"STAR ARCTURUS"

Arrives

Sails

Mar. 20 from Singapore.

Kobo & Mar. 20 for

"STAR BETELGEUSE” Arrives Mar. 22 from Japan, Saile

Yokohama.

Mar. 23 for Singapore, Port Swetten- bam, Madras, Colombo, Khor- Bombay, Karachi, ramshahr, Basrah, Kuwalt de Bahrein,

(LIMITED, PASSENGER ACCOMMODATION) (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)....

EVERETT STEAMSHIP CORPORATION SIA (Incorporated in the Republic of Panama with Limited Liability) Chinese Department: › Telephone 28293. Queen's Building, Telephone 31206.

}

MESSAGERIES

MARITIMES

P.O. Box 5ã......: Queen'" Building "STI; 251

* FAST PASSENGER/FREIGHT SERVICES "VIETNAM”

CAMBODGE"

sailing Apr. 9th

Balling May 20th:

'FAST FREIGHT SERVICE

"ANADYR

"MEINAM"

sailing Mar. 27th sailing Apr 15th