1955-04-06 — Page 9

FROM BACH

TO BOOGIE

Tokyo, Apr. 65.

Many young Japanese. are turning from Bach to

boogie, from Beethoven to Benny Goodman as jazz be- more popular in

comes

Japan.

Two new words, jazzu, and hiri-biri (hillbilly), have been Incorporated into the Japanese language..

servicemen

There were a few jazz fans in, Japan before the war, but it was not unill. thousands of young American arrived with the Occupation forces that it started to become popular..

In addition to starting a jazz craze. the Americans Introduced the Japanese to what was, for them a new form of music- hillbilly.

ADULT FANS

As In most countries, the majority of Japan's Jazz and hillbilly fans are teen- "age boys and girls. There are adult fans, however, in nearly every occupation

and profession including lawyers, doctors, politicians. and normally untra-cOTISET- vative farmers,

THE CHINA MAIL, WEDNESDAY, APRIL 6, 1955,

COMMERCE SECTION

TRADE

and

NEW YORK NEW US WOOL PROGRAMME

STOCK

MARKET 62 Cents Incentive

New York, Apr. 5. Last-minute buying in: rails and selected indus-

rials enlivened routine! stock market session today.

The last-minute spart, capping any of Arm. quiet trading. lifting prices of individual issues as much as 5 points and added nearly $1,000,000,000 to the value on all listed stocks.

Rails touched off the buying |- and closed with gains ranging close to 2 points in Santa Fe, around a point in Atlantic Coast Line, Canadian Pacific, Chesa- peake and Ohio.

Best gains in the industrials come in the steel and metal groups. Bethlehem ran up more than 5 points. Kaiser Aluminium issues featured with gains of 5% polis-to-5817 in the commen,

METALS UP.

The sound of jazz and hill-4 to $120 in the preferred: billy music, and he tramp" of dancing feet, may often be heard today floating across rice paddies which surrounded many isolated villages.

Of

the foreig entertuners who have visited Tokyo during the past year, jazz bands have been among the most popular.

at

4]

To Encourage

Price

Domestic Production

Washington, Apr. 5.

Chief event of 1955 in the wool situation will be the application of the new United States programme for expanding domestic production of wool.

On wool shorn after January 1 and marketed during the year starting April 1, 1954, the United States Agriculture Department will guarantee to domestic wool growers an "incen tive_price" of 62 cents per pound, grease basis.

St Joseph Lead rose more than World Cotton

an-

5 points as the Company nounced price incetases and Reynolds Metals added 2 pints. 2.93

Industrials

averaged points higher white rails were up 1.17 and utilities 0,03.

it

оса

There are, however. indica- tions that the number of jazz fans has recently begin to de cline in the capital-though Je Jncreasing in rural areas.

Audiences

Japanese theatres are usually undemen- strative,

theatres whort Western plays are being per- formed er classical music being applaud. played, they usually only at the end of each per- formance.

A jazz and hillbilly shows, here is a different atmosphere. Members of the audience stamp their feet, whistle, cheer. ap- plaud as the rhythm reaches its climax.

FROWNED ON JAZZ

Before and during the war the militarist Japanese governments frowned on jazz. They gald that it had demoralising in- fluence on young people,

when the music heard on the was German, 'new jazz practically un- WOTE

3

During the war,

foreign

radio

records

obtainable. Anyone caught

playing such records was

DIO- the

secuted by the police on grounds that a jazz fan was a potential Etate.

shares

Markets

If avere prices, received by producers fall below this level, subsidy payments will be made to the growers.

The purpose of programme, authorised in the National Woel Act of 1054, is to expand United States shorn wool production to 3000,000,000 pounds annually compared to a recent low level of about 230,000,000 pounds."

World Rubber

Markets

Singapore, Apr. 5. The rubber market improved during the day on short cover- Wikt ing, speculative buying.

trade enquiry iste in the after-

Blanket arpe No. 4 Spot rubber unbated

and strategic | No. 3 pale crepe

New York, Apr. 5. Cotton futures today back paddled sharply after opening Turnover for the day of 2,100, with minor gains and lessos,

14 PER CENT BELOW with then recovered, compared

about half of 2,500,000 shares yesterday.

the lest ground.

Production in 1954 was official-noon. Futures; With day trader realising and ly estimated at 229,371,000 There were strong spots hedging under way at the close pounds, which

was less than No. 1 rusher per b. April' 8871-80 May 374-88 in oils Texas Gulf Producing.

the list finished with net losses 230,343,000 in 1953 and 14 për

June unquoted up more than 2 points, and

of 10 to 18 points. Opening cent below the 1943-52 average.

No. 2 rubber per lb. April 8731-8795 Seaboard Oll, up more than 3 prices were up 3 to off 5 points.

No. 3

36-841 ":

8514-8574 New Oricans closed off 10 to 12 United States recognised wool To establish this objective, the

1587-89 Papsi Cola was the day's

points.

7914-8015 93-04 most active: stock, adding

The point to 214.

erralic price action reas aa "essential flected alterate spurts of com- commodity" which is not pro- and duced in the United States in buying Among aircrafts, General mission

selling as traders waited for sufficient quantity to meet do- Dynamics ran up 19%.

more news from Washington on mestic need.

subsidy for Ex-the question of volume was $3,- raw cotton exports next season. 11mited Press were not very con-

International political tension in the pre- plus uncertainties Ex-liminary new crop picture,

quietness of the textile trade

cautious mood.

The New change bond 580,000.

York Stock

2

The American Stock change volume was 830,000 shares.

YESTERDAY'S PRICES

$ 204%

Alden lie. -Acy. Aswer Chemicals Allis Chalmers American Airline American, Metal American 'Smelling American Tel & Tel Almencin Tubacco Anaconda Copper Armco Strel Amour

moral enemy of the win-Lima-Hamilton

Nevertheless, fans did hold "jazz concerts." Those who lived in Western-style houses, one Japanese said, kept their and records under

friends they

To their homes.

the When

his he and gathered for a "concert,' removed two or three sections

of the floorboards and played their records.

The records and gramophones kept under the floor for were two reasons. he

explained. First, visiting neighbours who were "too patriotic" might have reported the fan to the police if they saw Jazz records in his house. Second, by playing the records under the floor the music Was muted, and there was less chance of a neighbour ᎤᏆ . 1 patrolling policeman hear- ing it.

Many enterprising business men and musicians have taken of the growing of jazz to establish

music schools. In Tokyo alone, about 150 schools

there are teaching

total of 20.000 students how to play jazz-style music. The best of the students to get jobs with one of поре more than 200′′ jazz bands play- ing at cabarets, music halls and ballrooms in the city.

TUITION FEE: “

range

at

+

The tuition fees. from 500 yen to 2,000 yen about 10s. to £2 a week. depending upon the kind of instructors and the quality of equipment available the school.

Where the 10c" is low, students often have to provide their own instruments. learning, to be drummers, who cannot afford to buy an instru- ment, often have to use holders or desks as drums and two roughly cut pieces of wood as sticks-China Mail Special.

Those

SCOTE

„RUSSIA TO FILM

SHAKESPEARE

Moscow, Apr. 5.: Soviet studios will film 46 works by Russian and Western authors during the coming year, * was learned here.

They will include Shake-

Cervantes ere's the

"Don Quixote" and Tolstoy's -War and Peace".

The Gorid Institute-the. So- viet Institute of World, Litera kure, the Union of Soviet Writers and the Film Producing Union, will co-operate in the productions, France-Presse,

Kaltimore & Ohio

sendix Aviating Corp. Benguet, Cons.

Bethlehem Steel

Chile Copper

house

A

Some dealers indicated 曲 beliet existed in Washington circles that the use of subsidies 794% to stimulate the lagging colton not violate pe- 28% exports would

90

57

Officials consulted by the

NEW YORK ·

Futures today closed 80 to 113 points higher with sales of 54 contracts.

was

US Sugar

Legislation

Wäshington, Apr. 5.

The Secretary of Agri culture, Mr Exra T. Benson, indiested today that the Administration may take exceptions to augar

lerisin

tion introduced In Con- gress last week, but will sponsor bill of its

DWz.

The

and fre

Agrichhare State

Departmenta nesting agréément and should be able to present "united"

recommendations

on the sugar question by the time 'Congressional hearings start, he said.

Mr Benson mid he had been informed those hear- ings would get under wAY. wthin 36 days.

They will be directed, he said, to the bills already pending In both Houses. Those 63 Identical mea- kures represent the viewa of domestic sugar PTO- ducers.

Department spokesmen,

instead

of

championing

separate legislation, be sald,

would probably simply expTERS the Ad- ministration's feelings 28 provisions of pending proposals when called upon to testify by the Com- mittees.Usited Press.

to

HONGKONG

STOCK EXCHANGE

BANKS

BK Bank

INSURANCES

Univa SHIPPING

Belgian Belgian Exchange Regulations

Give

Greater Freedom

Brussels, Apr. 5.

Revised Belgian foreign exchange regulations ?. providing greater freedom for importers and exporters in the choice of currency used for their transactions have been announced in the Belgian Official Gazette.

The regulations also aim at the extension of transferability and convertibility of Belgian and Luxembourg frane accounts opened by foreigners within the Belgo - Luxembourg - Economic Union.

These accounts" have been divided into Ave categories ac- cording to the mature of the transaction for which they are to be used and country of re sidence of their holder:

FOREIGN ACCOUNTS

I. Foreign Arancial accounts "L" accounts) (previously

opera-

to be used for all tions involving stocks, in-

vestments and capital transactions. They can be opened by any

foreigner

accounts and convertible Into EPU currencies the official market.

**

4. "Bilateral" accounts, to be used for current transac- tions with countries whöbé international exchanges ara

ה

on a bilateral basis.

trith

5. "Without agreement" no- counts, to be used for cur» ment transactions countries not falling into any of the preceding cute- gories. They are

transfer able and convertible, on the official market, into all foreign currencies. the

except

US and Canadian dollars. China MAI Special

foreign New York Foreign

and are transferable and convertible into currencies cat the free market.

Exchange

Begdand-undđi

1. "Convertible" accounts,

be used mainly for settle- ment of current transace canada tions between. Belgiura- Luxembourg and the dollar area. They are transferable into all other accounts and convertible

the official

Australia

Pors

New York,

30-day futureS

Canadian dollar sate:

India

and free markets,

Spot!

buyers

close.

1.01 11/16

sellery 1.01 23/32

3. "EPU accounts, to be Love

higa

101 22/33

the

used for current twngac- | Future: tions with member com tries of the EPU. They are

101 11/16

101 21/3%

30-day

1.01 29/12

90-day

6-month

transferable into other, EPU

.. 1540 1355

39 @ 1550 $1550

21555

300975

Strength reflected the higher (From Our Correspondent) dent that the new wool pro- primary markets, plus interna- gramme will have its intendedtional political tension and akong Stock Exchange this morn- Business done on the Hong- and effect of causing a rapid build quickening factory Interest in ing amounted to $1.105,149.80 also acted to keep traders in a up in the United States sheep the local spot market.

Some think population.

Noon Ave

quotations and morning's, transactions: years may be required to reach Dealers reported

a fair-sized the 300,000,000 pound target. tonnage of shipment number SHARES BUYERS SELLERS SALES

Despite the incentive price from Siam and Singapore

worked overnight. to the wool-growers, there are numerous » practical difficulties Locally, dealers and factories Many farmers regard cattle pro- bought June three sheets at 311⁄2 duction as a more proẞtable en-cents; July one shiels et 31 Trading volumes and openterprise. Large areas of poten-cents and May two sheets at interests in the Exchange total sheep-growing ranges have 30% cents a pound. June one been affected by drought in sheets were done in the fore- Open interest recent yiars.

803,300

noon 31% cents with later sales 250,000

MAY BE SLOW

passing at 31% cents. Spot No 1 Rss were quoted at 314 cents a Increase on total sheep num pound, nominal.—Futures: bers for wool may therefore bei

May slow.

July The United Stat wool pro- Sept. Eramme has numerous implica- Dec

Mar.

401 ciprocal trade agreement with

other nations,

J

Prices of futures closed today ions to the international wool May

34.250

179

58

75

14

20

day were:

43 May

Month

Vstume 36,400

∙154

138

Hooing--Airplane-

July October December

36,700

3,900

146,300

Canadian Pacific Railway Case (1) Co.

30% May

34.10

17

July

Chase National Bank

51% Total

110,200

33,500 2,482,400 bales.

41

Chrysler Mators

NEW YORK

Commercial Credit

20

Cortenorow Balth inee.

Consolidated Edison

as follows:--

Continental Steel

Spat

Corn Products

Crane Co.

July

Cubas American Sugar Curtis Wright...... Dupont de Nemours Eastmar. Kodak

1814

Oct.

Dec.

1:09/

Mar.

May

4.30

July

33.04

NEW ORLEANS Prices of futures closed today as follows:-

$3.75

4

May

33.57

July

Oct

33,85

Dec.

34.93

Mar.

34.03

International Tel, & Tel.

27

May

17

3.05

LIVERPOOL

Future

closings.

American tive"

cent of

General Electric General Foods General Motors Gillette Safety Razor Goodrich. (B,F) Co. Goodyear Tire & Rubber Homstake Mining Co. International Business Ma International Harvester International Nickel International Paper

John-Manville Co. Kernerett Copper

Lockheed Aircraft

Leows Incorp.

Lone Star Cement Co. Minnesota. Mining

Montgomery Ward

National Cash Register “A” National Distillers National Lead

Otis Elevators

New York Central

Pacific Gas & Electric Pacific Western Onl Pan American, Airways Perainoumi Pictures Philips Petrolettin Pittsburgh Plate Glass Radio Corporation Reo Motors Republic Steel Shell Oil Co. Sinclair Ou... Bocony VacuLUTI Southern Railway (Com.) Standard Brands Standard Ol of California Standard Oil of Indiana Standard Oil of New Jerse Stokley Van Camp. Studebaker-Packard Corp. Swift & Co. Texas Co, Union Carbide

Union Paide Railway United Gas, Imp U.B. Gypsum

UA Ling Co.

U.S. Rubber. -.-. United States Smelling US. Steel....

Warner Bros. Westinghours Electric Woolworth-

LONDON

31.80

31.90-32

30.30

30.69

30.50

29.85

The market was fully steady. No. 1 spot Rss were quoted at

Prices: 28% pence per Ib..

trade, even though it may not lead to any extraordinary sariy 33.50-61 increase in production. It was 13.80-81 adopted by Congress instead of 33.81-84 33.94

3 ipag-agitated programme for 33.90

higher protective tarifs against Wool imports, and intended to No. 1 Rss spot....

wool trede polley in line

Settlement, house term: keep with the Eisenhower

May Administra tion policy to foster a Eberst international trade policy as far as practicable.

Asha Nav

DOCKS, ETC.

K. What Deck Provident (0)

X AI Wheelock LAND, ETC. HK Hotel HK Land

Shai Land... Humphreys.. Realty UTILITIES

Tram

Star Ferry

2500 u Be

4071

2470. 1500 24.60

11.70 11.00 1000 0 1180

1.15 1.30

"17.40 17.50 3900 17.50

900

2.052.19%

2011⁄2 20.60

145

Yaumali Ferry

X All

108 110

C. Light (0) 18.20 18.30

C. LAH! IN) 14.20 Ï4.40 25%-2012

Juco July/Sept. Oct./Dec. Jan Mar.

2414-261 20-20% 2396-2515 257 2536~253 General markets, cif bass, ports:

25-2016 231⁄2-204

Its success in pcration would Auril therefore forestall a revived May

Juse campaign for high tariff on wood. Etate crepe thick

Secondly, funds for financing Agriculture Department incen- to the wool- payments will

the tariff receipts on

thin

AMSTERDAM,

575% middling, in peace per lb. were growers come from 70 per The market was firm. Prices 30.03 wool Emported into the United closed today in guilders per

States. The plan is thus financed kilogram CIF April as follows: 20.90 indirectly by foreign wool, rather No. 1 rubber

Oct/Nov.

30.02

29.94 than at the expense of the United No. 2 rubber

States Treasury.

922

as follows:

May/June

July/Aug.

Dec/Jan.

Mar/Apr.

SAO PAULO Future closings, in cruzeiros per kilo were as follows:

May

July

Oct.

29.10 25.40 30.15

United Pres

弱

London Foreign Exchange

New York Montreal

Brussels

Paris

Stockhol Zurich

--Others were

Dec.1 Mar.

NEEDS STIMULUS

No. 3 rubber

-

No, 1 crepe

Experts do not regard the wool trade situation at year-end aз 30.95 very favourable for the

of the new | maximum success

Wool consumption Programme.

commerce during and volume of 1954 were disappinting, and the entire industry

the needs stimulus of more active demand.

World supply of wool for the 1954-55

In the United States, the average price of 15/16 middling ut ten designated spot markets was 33.69 cents Sales at these centres totalled 10,549 bales. United Press.

Za buyers

2.50 buyers

2.56 buyers

Electric

390 2000

351 352 900 @

31 32

Telephone

INDUSTRIALS

Cement X All 26,70 STORES, ETC.

Dairy

22.00, 22.80 (N)..21 Watson

Cresford 25.10

1220 13%

MISCELLANEOUS

-

* ¤ ¤

100

COTTONS

Textle Corp. 5.35 2900 @ 3.95 Yanzisze

2634 8.30 1009 @ 11⁄2

3000 € 650 Allled 4.80 2500 6421

2770 bure Union Insurance

United Press.

New w York Sugar Market

Bonus

The Union Insurance Society of Canton, Ltd will propose, a { bonus issue of shares; ratio "of mine held. The one for every Directors will also recommend

New York, Apr. 5.

issued World No. 4 sugar futures

a final dividend of £1 2a 8d.

statement was The following

this the Society by morning:

The Ordhury sales, of 49

Yearly Meeting af Shareholders of this Society will be held on May 26,

LONDON METAL the Agriculture Department to be point lower with

season is expected by closed today unchanged to

PRICES

London, Apr. 5, The tin market was steadier while the rest were all steady. Pricts closed today in, sterling per long ton as follows:-

buyers sellers 7145%

718 715%

Tin spot

3-month

Copper spot

3-month

Lead Int

Zinc 1st half Apr

at halt July

DOWCI

Subject to audit the Directors

will recommend payment of a anal dividend of £1.3s ed per share.

slightly larger than for 1953-54, contracts, with an increase of about one

Domestic No. 6 sugar futures Total world per cent forecast, stocks were recently reported at closed 1 point lower to 2 points sabent the same level as one

higher, with sales of.. 03 con tracts, year emer

It is proposed to recom "With economic activity and

The world contract eased in to shareholders at constamer

purchasing

quiet trading as market senti- ordinary General Meeting to be likely to continue at about prement was influenced by the held immediately following the 352% seat levels, mill

use of wool lightly lower mding of raws. Annual General Meeting, that a festte be made in this year, said an Agriculture with exchanging of. May con- the sik Department outlook

report tract for actuals, a dominant every nine shares held by the

feature. Futures:

capitalisation of £150,000 of the Exchange and Investment, Fluch Contract No. 4' (world)

duation Account. Such new Blay

shares will rank for dividend from January 1, 1955,

352

10

83

Failed. Press.

NEW YORK METAL FUTURES

New York, Apr. 6, Prices of metal futures closed day in ; cents per lb, as

Lead,

Apri

inext year will be a little Domestic futures were quiet ton of one stipro 201

United Prem.

NEW YORK SILK

FUTURES

New York, Apt: 5.

Old contract silk futures today closed unchanged to 2 cents Contract No. 8:

Bapt

Mar

Bulgy

Spot (o

18276 ST30b

lower with male of two com tracta,

May

Bevr

Spo

United ProsE.

· 30 2015

EVERETT

1.01 40/64

101 25/32

-United Pre,

LINES

EVERETT ORIENT LINE

Fast regular freight

passenger

refrigerator

service to Korea, Japan,

Philippines, Indo-China, Slam, Malaya, Rangoon, Calcutta. and Chittagong.

"BRADEVERETT”

Arrives Ap. 7. from Marila, Sails

Apr. 8

for Singapore, Rangoon, Calcutta,

Penang

Chittagong

"REBEVERETT”

Arrives Sails

Apr 26 from Singapore, Apr. 26 for Kobe & Yokohama,

(Accepting earzo for transhipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STAR LINE

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

"THAI"

Arrives Salls

Apr. 17 from Singapore,

Apr. 17 for Kobe & Yokohama,

“STAR ARCTURUS":

Arrives Sails

Apr, 19 from Japan.

Apr, 20 for Singapore, Port Swei

tenham, Colombo, Bombay, Karach

Khorramshahr Basrah, Kuwait & Bahrein. (LIMITED PASSENGER ACCOMMODATION) (Accepting cargo for teanablyment Kobe/Pusaa

and Hobe/Okinawa)/

EVERETT STEAMSHIP CORPORATION S/A

(facorporated in the Republic of Panama

with Limited Liability) wa

Chinese Department: Telephone 28293. Queen's Building, Telephone: 31206.

MESSAGERIES MARITIMES

P.O. Box 53 Queen's Building :: Tel: 2665). FAST PASSENGER/FREIGHT SERVICE

Exchange Rates "VIETNAM

$44}//::/Business, viradí é dono di tha: local 567 unofficial • exchangỪ (561) moralej vát (klin Südosing rates?—

583 U.S. dollar; (per 31), mitmetiert: 5.20 345 Sterling notes (per (21)

Indonesian ruplats (per 100 Bissos ticals (per, «100)/Ap Dado-Chinu vlastres (per 100)

"CAMBODGE"

“MEINAM” "PEIHO"

sailing Apr. Oth salling May 20th

FAST FREIGHT SERVICE

salling Apr, 24th sailing May 12th

*