1955-03-31 — Page 9

COTTON

DELEGATES ANXIOUS

Manchester, Mar. 30.. Increasingly anxious about Japanese competi

··tion in world cotton markets, European repre- sentatives of the cotton industry

in Man- chester today again trying to have the question put down for international dis- cussion.

were

Working on an agenda for the July conference at end of the International Federation of Cotton and Allied Industries-en cotton July

Continental leaders are having two days of informal talks.

Herr Willy Kichier, manager of the German Cott Spinners Association, and his country's representative at the talks, said Germany is faced with the same sort of Japanese problem that is all other cusing concern European countries.

serious cussed

question has become so be dis that it would Raxt

month by the of Me Burapean for

THE CHINA MAIL, THURSDAY, MARCH 31, 1955.

TRADE and

COMMERCE

SECTION

Page

COTTON AND WOOL CONSUMPTION

NEW YORK

STOCK

MARKET

Last Minute

Sell-Off

ew York, Mar. 30. At minute selling drive whact more than $1,000.- 000,00 from market valua tion tay

with individual losstenging to 10 points at the treme.

Until was one ties and

sell-of the market wide-moving special. arrow-moving stocks the body of the list Many of features reflected individuas developments.

Textile Committee Organisation Economic, Co-operation

A French proposal for pean countries to decide on some sort of concerted action against

*Bath the threat of Japanese competi

points of tion is also to be discussed,

Vice-35 the N de Calan, M. Pierre President of the French pany is

sard: nuclear de organisation, industry "What with Iron and Bamboo sume

Shipbuilding and Curtains and increasing indus

Works lost 10 terday's 11% rise denied the com- considered for a

contract. In the; Newport News

General Dy-

trialisation of many countriesnamics 10se than 3 points. which used to rely on imperic goods, it is becoming mor and more difficult for us all."

commation

of

The last mite's selling, which put report tickers behind all ve minute brought in groups, Indals sank $2.50

average us 2.14

and

utilities 0.47 stepped turn over up to 3.00 shares from 2,770.000 yeay-the most since March

the circumstances cotton men Western

countries on European should co-operate to solve this

problems instead fighting each other."

French delegates are prossing for agreements against dumpire and other forms of unfair com petition-China Mail Special.

TECCAL

Significant Increase

Since The War

RAYON FIGURES RISE

Geneva, Mar. 30.

The General Agreement on Tariffs and Trade reported yesterday that world consumption of raw cotton, rayon and raw wool "increased significantly" since prewar.

In a paper prepared by the GATT intelligence unit it was pointed out that there are substantial differences in the way in which the 1952-53 drop in total fibre consumption reflected itself.

World Cotton

Markets

New York, Mar. 30. - Cotton futures today back-tracked sharply for the second session in a row.

Losses ranging up to around $1:40 a bale coeve nearby old crop. deliveries to the lowest level in a month, with May con- tracts going below the 33-cen:

in mark

The selling viewed Wall Street as hical, coming at a time whrices

were

Day trader covering at the

MYSTERIES approaching the all market close lifted prices from the lows

OF EXTINCT ANIMALS

Capetown, Mar. 30. Important

facts about

highs. Most cotators look for further baand filling before the list a serious assatik on the tocarly this month.

There were bit losers in Tells Seaboard Ling Al- Isalia Cogel Line This Central LAS Softhern

Among the roots, was Parke Davis, onthe arms:

out of the list still closed un- changed to of 18 points. Open- Ing prices were of 2 to 5 points. New Orleans closed off 3 to 17 points.

The surplus

was figured at 10,200,000 bales up 600,000 bales from last year and 300,000 baies more than indicated last December,

types of animals which are women the vaccine The slow-down in export de- now extinct in South Africa surled 2 points ourable mand for raw cotton, as foreign

wait for a clarifica-

are being unravelled sys-news regarding set of new consumers

tion of the US Government

Of a letal 1,196

tematically at the Univentat sity of Capetown.

Renewed interest in palaeon- tology has been created by the citing askie at the Medical

of a large building as a Jaboratory and museum for the special study of the vast quanti- ty of fossilised animal remains. found at the "Saldanha Man" near Hopeheld about 60 miles north of Capetown.

survey of all A detailed material.

relating to an extinct

+1

South African type ot

giant

on 58 Anished

7 were lower.

"

traded policy on export subsidies for while next year, along with business in the textile markets, kept the The New Yorker Ex- tradé huying to scale down charge band volus $3.- limits. 100.000.

The American Ex- Trading volumes and open in- in the Exchange today volume 140,000 terests

were: Dow-Jones closin rages wer; to milowat

Month

30-industrials

Change shares.

20 tall

13 lates

Glock

40 bonds

Volume

46,900

25.000

$149.

63.33

410.13 May

Octoper

12.200

December

.11.200

Match

3,500

Comm. future price, inc.

134.92

Ay

2,000

in

Arden Inc. Aey.

July

5,700

Aled Cherpicals

Tetar (bales}

117,700

NEW YORK

bush pig has already been made by Dr R. Singer and Dr E.N. Keen senior

anatomy,

lecturers

been

They found that the creature was closely related to a wild Fig which lived in East Africa

No old 200,000 years ago. romains of a pig have found anywhere in Africa,

Their next research will deal with extinct types of elephant, buffalo and giraffe, also found at Hopefield.

Allls Chainers

American Airline Americus Sletal American Smelting American Tel & Tel American Tobacco Anaconda Copper Armes Steel Armour

Balwin-ins-llamilton

Bendix Aviation Corp.

Baltimore & Ohio... Banquet Cons.

20

Open.

is States and Japan produced per-about 49 per cent of the total of and their exports were 71 per of the world cotton

This "textile crisis" "nothing more than the fectly

result plausible market responses," said GATT. cent

"In 1951 there was a halt a trade."

in the extraordinary increase textiles, followed in 1952 by a severe slump," the trade pert said.

MX-

"In 1953 there was a. TC-

covery

world

textile

markets,"

in

In the year 1938, 14 per cent of world output of cotton goods The six major was exports.

France, countries. Belgium,

SAME AJ. 1939.

"In 1953 the six countries still produced the same pro

as in 1939 but their portion exports had fallen to 58 per cent", GATT said.

These "two countries with 15 por cent of world production. Italy, United Kingdom, United now have exports represent- ing 13 per cent of the world total."

World Rubber "Owing to

Markets

The rubber

Singapore, Mar. 30.

market steadied. during the day on general polf tical situation but eased towards the close on selling pressure with buyers reluctant. Future clos- ings: No. 1 rubber per lb.

Apri

May

June

No. 2 rubber per ib. April No. 3 rubber per lb. April No. 4 rubber per Ib. April

rubber unbaled... Blanket crepe

No.

pale crepe

00-90%

unquoted

-90%

NEW YORK

Futures today ciased 25 to 60-

points lower with sales of 130

contracts.

The trade experts said: in faster growth population the proportion of textiles avaliable

per head hardly varied in the importing areas. Whereas in the export- ing countries it rose by nearly one fifth."

The increase in “world colton prochiction in 1953 has taken place entirely outside West Europe and Japan."

Latin

American

Malaya Rubber

Committee

London, Mar. 30. Mr Stan Awbery (Labour) asked in the House of Commons' today if negotiations begun two years aro on the setting up of a consultative Or negotiating committee for the rubber industry in Malaya had yet been com- plated.

He urged the "Colonial Ofice to ensure that the comunities would deal on

pational scale with the wages and conditions in this industry.

for

Mr Henry Hopkinson, Minister al State Colonial Adairs, replied; *I am glad to say that long and patient Regolia tions between the two. sides of the planting indus tries in the Federation of

· Malaya "have now resulted in agreement on the con

of a join" "con- siltation sultative committee these Industries

for

which

"The artemnet provides for Joint consulta - tion on wires, conditions of work and other matters was signed on March 26." -China Mall Special

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Stock Exchange this morning Business done on the Hongkong

amounted to $344.536.80. Noon quotations and the morning's production transactions, of cotton textiles in the post-SHARES DUVERS SELLERS SALES war years has genuinely re- BANKS

20 1530 placed more than 60 per cent of cotton textile imports."

The United States, India and the rest of the world "produc- tion rose by 36 per cent.**

CHANGE IN PRICE

The change in export price of cotton yam and cotton

Hues by the major suppliers

cause

to non-industrial; destination is particularly pronounced be- the bextile production in the less industrialised region on the whole

diminished their demand for yärns**

Commission house liquidation at the close, encouraged partly by stock market setback, and because of the discouragingly interest slow consumer interest in actual 167,000 rubber, dominated a mixed trade.

4800 Switching of Sep:/May 301,300 253,500 tracts at 75 points difference "The 139 500 provided another feature.

145.700

20,600

cone

The trade experts concluded: prospects for DI ergased volume of international In the spot market, small sales trade in textile machinery ap- 2,403,100 included June one sheets at 31% pears to be favourable for the

cents in

reason that trade the forencon. Later, same sales were made at 31% cents textiles and textile raw materials

to decline."-

Prices of futures closed today and 31 cents, although the low may continue

34.03a

33.29

price was not confirmed. July United Press.

one sheets traded from 314 10: 31% cents a pound. Spot No 1 Rss were quoted at 31% cents a pound, nominal. Fu

Futures:

as follows:

So

May

July

**58

34.87-03

3317

Mar

33.99

May

July

at.

Boeing Airplant

Mav

34.14

Sept.

Canadian Pacific Radway

July

33.19

Des.

Case (1, 1) Ch.

Mar.

of

Chase National Bank Calle Copper

May

Apart from many types animals now extinct, the Hope- field site has provided material representing a cross-section all living antelopes, as well as such as the Lechwe, now types, extinct in the Cape.

FOUR TYPES

Bethlehem Steel

Chrysler omrs

Commercial Credit

Commonwealth Elec. Consolidated Edison Continental Steel

Corn Produts

least

Crane Co.

The fossils Include at four different types of extinct horses and zebras. More teeth short-necked extinct, ot an

A giraffe with antlered horns, have come from Hopefield than the Lotal remains of such a creature

Huge

Africa. found anywhere of bones

else in A giant rhinos and buffalo, bigger than modern species, are Also among the collection,

Hundreds of stone implements are awaiting

"gine" of material stili

Cuban American Sugar Curtis Weight Dupont de Semours

Eastman Kodak ... General Electric

General Foods General Motors Gulette Safer Ro

Goodrich (B. F. Co. Goodyear Tire & Rubber of Homstake Mining Co. all: International Builacas

Machines International Harvester International Nickel International Paper International Pd & Tel

Tomm-Biznile Co. Kennecott Copper Lockheed Airerah Leows Incorp,

of

It

from Hopefield examination,

Drennan Professor M.R. Capetown University said that to be à ümitless what

appeared

at the site in the sand dunes 10 miles south-west of Hopefield. Large-scale opera- tions were hampered by lack of funds and transport difficulties. -China Mail Special.

Lone Star Cement Co.

... Minnesota Mining Montgomery Ward

National Cash Register National Diflers National Lead

New York Centra Ole Elevators Pacific Gas & Decirte Pacide Western Of Pan American Allways Faramount Pictures Philips Petroleum

Yalta Documents Pittburgh Plate Chass

Bad Precedent

Radio Corporation „.. Heo Motors Republic Steel Shell Ou Co, Sinclair

Southern Railway (Com Standard Brands Standard Ou of Catfor Standard Oil of Indian Standard Oli of New Jers Stomisy Vam. Cump studebaker-Packard Cap.

Co

London, Mar. 30. The British Foreign Minister, Sir Anthony Eden, said today in the House of Commons that United States publication of the Yalla documents not con

a very good precedent Ewin

British

of their Texas Co. Teleise

•Unter Carbide particularly papers.

Unton. Paciãe Railway concerning the arrival in- United Gas Imp.

·US. · GypsüTA England of the German escapee;'

U.S. Line Co.. Rudolph Hesse. 4

US. Rubber

He declared that this ques tion could not be examined until after the publication of certain

papers WLS completed France-Presse.

United States Smelting US. Bleel Wader Bro Westinghouse Woolworth

- NEW ORLEANS

Prices of futures closed today as follows:

Spot

May

July

Mar.

May

Jy

SAO PAULO

33.75 33.28

33.50-58

33.38-34.09

38.14 34.13

31.70

31.35-20

30.75 30.40-50 30.10

The London and Amsterdam rubber prices were not reseived this morning-United Press, 2

London Foreign

Exchange

New York

Futures closings, in cruzeiros Montreal

er kilo were as follows:

27.00

Brussels Porta West Marks

Zurich

27.03

29.00

Others

29.40

Press

30.53

the United States, the

London MEI

2.79-5/16-2.79: 2.74-0/16-2.74-11/18 73 072-73.9734 977-4-973

11.801-11.81 12.233-13.2374

New York Sugar. Market

HK Bank

INSURANCES

1520 1545

•• 070

68

Union SHIPPING

Asia Asia DOCKS, ETC. K. Wharf Dock XD 2473 24.89. 200 m 24.60 500 @ 24.70

11.00 500 @ 11.80 7.10 7.20

Provident (0)

X.ALL

Wheelock LAND, ETC.

HK 'Hotel ... 10.00 17.10 5000 62-16.00 HK Land ... 6412 05 110 60 841⁄2 S'ba Land.

c. 400 or 88c. Humphreys

-2430 1000 &#24 1971, 2003

Realty

UTILITIES

Tram XD. 29.40 270

Star Ferry

Y'mati: Ferry

XALL

C. Light 101 17.8

"

.2000

C. Light (N)

14.30

Electric 34 35 7000 Telephone. 307% 311⁄2: 700 631 INDUSTRIALS

20,40 28.70 500 6: 26.60

17.50

21.00 21.00 300 # 2170

Hope

Cement

X.ALL STORES, ETC.

Datzy

(N)

Watson Word: Kwang Sang

HEAL

13.10

Textile Corp Nanyang

Yangtze

Allied

COTTONS

New York, Mar. 30. World No. 4 sugar futures MISCELLANEOUS closed 3 points lower to point higher with sales of 213 contracts.,

Domestic No, 6 sugar futures closed unchanged to 4 points

| lower with sales of 321 contracts,

2.00

228.08.21.70

147 -20:30 175 * 30.20

12 @ 154

... 8.15 8.25

1000 D 4.7731⁄2 4.871⁄2-1000 60 4.30 750 4.85

Singapore

World futures were irregular Stock Market

on mixed trade operations. No raw sales were reported, but dealers beard rumours

that

unchanged United "some business had been done with Ceylon,"

rage price of 15/16 middling NEW YORK METAL

on at tan designated społ

kets was 33.51 cents. Sales hese centres totalled 10,417

KARACHI

raw cotton market re-

PRICES

Other sources understood not all cruntries have been adhering

This was

Singapore, Mar. 31. Brokers today

the quoted following stock prices:

Opening 31. British Borneo Petroleum Syn....

dicate

317- Consolidated Ordinary

30/54

$1.99

$6.60

Tin. Smelters,

Lae | Traxer & Nesve: Lad

issue

to export quotas under international sugar agreement.

*** | Fraser Be Neave, Lt expected to possa

Corp. (Colonial problem for the sugar Council Hongkong 2 Shench at ifs rext meeting. Brazil and Mainyon Breweries Mexico were among the counRams Botel 14.176 tries reportedly oversold on Sapore Cold Stora

South British Inmar 121bquotas,

·Straits TraGING.

Steamship

-New York, Mar. 30. Prices of metal futures closed today in cents per lb. is follows

90.25b 90.135

Lead

April May

ed from Monday's slump T

tter foreign business. The rable export party at Zinc: Apri

April

May

they

much of the business Copper April Bla/she/past week, and

May

-United - Press.

targe shipments

by shippers. I

was

were reported that the freight will be increased

10 per cent upward to and the Japan, the

the freight Fraised - Tem

States.

45 to 50.

10:43

1043 A good part of the business in United Eagers

domestic contracts was représ Waerts Brother 30.756 sented in exchanges for spot Petang Tin

40,201

LONDON METAL

PRICES

London, Mar. 31,

Tales from the first of Aprili All metal markets are steady. osed today in rupees per Prices closed today in sterling

per long fan 2% 100lows: As follows;

broller-gioped. Bind: roller-gloned

jab, roller-gitised

this morn

sugar. Futures:.

$11.50

Mall Special.

Contract No. 4 (world);

New York Foreign

Exchange

perb Lob Cuba

No.

"buyers sellers

2014 1.01-325/

month 1.01.38/22-

-United:

New Revolutionary Yarn Process

Ottawa, Mar. 30.

The revolutionary process of making yarn discovered by Army and Defence Research Board scientists will be made available to the textile industry soon, the Defence Minister, Mr Ralph Campney, told the Commons yesterday,

The new process, an advanced) echnique In spinning yarn, makes use of the greater tensile strength of synthetic Abres in combination with the qualities of natural @bres, The yarn cao ber woven

inte

a light, strong `cloth that won't tear and can be used in clothing, canvas, up- holstery coverings ... and many other materials.

Mr Campney said the armed forces of the United States and the United Kingdom

.

he

Aust. Import Restrictions Worry Malaya

bavo

was

Signapore, Mar. 30. Malayan rubber circles. are very expressed concem over the an.

"nouncement of import restric interested. The new yara ne tiers by Australia which, they

ཡ་」 now! said,

undergoing

belleve, may have an adverso. United rigorous tests in the "States, and the United Kingdom effect on Malaya's, rubber ex- has asked us for considerable ports to that country,

In 1954, Acstralia yardage."

PATENTS FILED

Malaya's seventh best customer On the invention, for fubber, taking 42,828 tona,

circles believe Sled in the name of the Queen, These same have been registered in the that the Australian decision to United States and Europe, he cut her raw material imports by said. All

may royalties will accrue to one-ath as from April 1 the Crown, but the inventors, include Malaya's prime strategic Col H. A. Decellier, and Dr Jan | commodity, Weinberger, will get a percent-

Patents

Mr

→

UNHEALTHY" age, as yet undetermined,

They consider that such a Campney added,

situation would be an unhealthy The new yarn could be used development for

Malaya in socks anci shirts that would wear for years, bed sheets that would be almost indestructible and upholstery that would out- last the furniture it covers.---

United Press.

specially in view of the fact that the United States la showing increasing preference for synthette rubber.

These crples recall a similar position

don which pro

arose in 1952 when Australia's

import restrictions combined with her stockpiling, to end slashed rubber Imports" insta unement exchange

Business was done in the local that country down to 17,396 tons

market

this compared

with 49,208 tons In morning at the folowing rates:- U.S. dollar per 41)

5.79 1951. Sterling notes (p41 £1) Indonesian rupiah (per 1003 Siem ticala (per 100). Indo-China plastres (per 100)

Exchange Rates decision

Shaurire (Straita)

EVERETT

15,60

Consequently, in 1952, Malaya... 150 suffered an adverse balance-of- M$15,048,916 in her trade with. 10s Australia-France-Presse:

27.60

LINES

EVERETT ORIENT LINE

Fast regular freight

passenger

service to

Philippines, Indo-China,

Calcutta Rangoon,

"BRADEVERETT"

Arrives

Sails

and

refrigerator ima

Koren, Japan, Siam, Malaya Chittagong.

Apr. 5 from Manila.

Apr. 8 for Singapore Perang

Rangoon, Chittagong Calcutta.

*

"REBEVERETT"

Arrives

Sails

Apr. 22 from Singapore, Apr. 22 for Kobe & Yokohama, (Accepting cargo for "tramhipment Kobe/Puan and Kabe/Okinawa)

EVERETT STAR LINE

Fast regular freight — refrigerator service to Japan, Malaya, Colombo, Bombay, Karachi and

Persian Gulf A

(Subject to inducement for direct extt Korey

་་བ་

THAI

"Arrives

Sails

Abr. 16 from Singapore,

Apr. 16 for Kobe & Yokohama,

"STAR ARCTURUS”

Arrives Sails

Apr, 19 from Japan.

Apr, 20 for Singapore, Fart Swet. tenham, Colombo, Bambay, Khorramshahr, Karachi,...

Basrah, Kuwait & Bahrein." (LIMITED PASSENGER ACCOMMODATION) (Accepting cargo for transhipment Kobe Pasan and Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A

fincorporated in the Repablis of Fazams a

with Lammed Liabilitz) WEA Chinese Department: Telephone 28293. Queen's Building, Telephone 31206.

MESSAGERIES MARITIMES

PO Box 38 Queen " Building (27

FAST PASSENGER/FREIGHT SERVICE VIETNAM "CAMBODGE"

ling Apr. 9tI Balling May 20th

FAST FREIGHT SERVICE

1/1 "MEINAM

"“PEIHO

calling Apr. 21st sailing May 12th