1955-07-14 — Page 9

THE CHINA 'MAIL, THURSDAY, JULY 14, 1955.

SOVIET STAFF OFFICERS IN PRAGUE

Vienna, July 13. The arrival in Prague ol about 100 Soviet general stat

ofligers is regarded here as the fr impact on Czechoslovakta of the Warsaw treaty of friend- and mutual ship, co-operation

assistance between the Soviet Union unal ber seven satelition.

The tienly also provides for a Join military command, with Prague as the operational head- quer.ers,

has

Increased activity of mili- fay transports to the weit und South

of Czechoslovakia also been ableed, according to reaching bags xperts

Thi h wever, could be in que of the forthesaning with dawal

of Soviet oceurption troop: from Austria.

"CH entire

US

TRADE

and

COMMERCE SECTION

COTTON MILLS ALARMED Storm Over Polish

NEW YORK Japanese Feared To Have "TRY EVERY

STOCK MARKET

New York, July 13. Stocks cracked a point to more than 6 points in a late today which shakeout slushed well over $1,000,- 000,000 from the value of

Czechoslovacall 1sted shares. Anny seemed to be in progra of being comletely rezrganized, sair the preposte. All men who for worg urtice dovlared unit military service and

are under 50 years of age, are now being medially examined again under new and intre strict regulations

to determine fitnera.

their degree of

NOT HELEASED At the pan ing most of the conscripts who should already have ncluded their ariny ser- vire are not being released. At present military service lasts 24 month with the army and 27 months with the air force,

May and more fasteries again being turned ints heavy Industrial

after Cnterprises having productil nannier goods siness change of politient outlook dhe ta Stalia's death.

arc

The decline hit hardest at Te- cent favourites, particularly the so-called stock split candidates. Enthusiasm for these issues was dampened when Sears Roebuck directors failed te Scelaro

and when split yesterday Procter and Gamble directors ordered only the usual dividend. Today's loss, measured by the in averages, approached severity, the Thursday shakeont last week. Industrials slumped 5.57 points; rails $1.52 and utilities dipped just 0.02.

Weighing heavily average were losses of 624 points in Du Pout, 23% in All. Chemical; 24 In Bethlehem Steel, a poiní

of

the

US Steel; 2% in Scars; 11⁄2 Procter and Gamble; 2% each in Jersey Standard and Standard of Californin, 2% in Texas Co; a point in General Motors.

One the bigget armamenta While the majority of losses were snail, the decline took in factors, that at Povazska By- strien in Sevakia, is now pro- | most issues, Or 1,178 appearing ducing

machine guns, unly

on the tape, 690 were lower, only artillery and infantry am-

246 were higher, ition

although the begin-

There were A few strong 111 of this year it was

puls, however, American ptorlacing agricultural machines,

Percyhore rontinued in demand, The effective strength of the king another 14 points. Owen- Czechoslovak armed forces ių 19

Blinois Glass climbed nearly exdinated at 270,000 men, not including frontier guneda, police and Evans Products nearly 3 and other semi-military units, points. there reports said.

The army is divided into five which, corps with 15 divisions in the ease of mobilisation. could

be enlarged to Probably divisions.

Bre

Corps headquarters Prague, Plsen, Budejovice, Brno Bud Bratislava.

counter

intelli- The army's gence betonarters, healed by General Ruecks Isafet to be stationed in Brno,

AT LEAST FOUR At least fr divisions are to be concentrated reported along the Czech-Austrian fron- ter with their heatomarters In Budejovier, Znojmo, Brno and Bratislava. The seats of the other 11 divisions were safe to be in Klatovy, Pilsen, Karlovy VHEY Vury (Karlsbad). Milovice Prague

Olomou

ལ

Kromeriz.

Opava, Trencin Bansko, Bystrica

and Kosice.

22

Won

Market Battle

Charlotte, N.C., July 13. Anxiety over low-cost Japanese cotton goods has clouded the traditional vacation period of American mill workers and spurred fears that Japan has won the long battle for the American market, a statement from the American Textiles Mills Information Service said.

"Top men in the industry view with astonishment and despair the outcome of the tariff concessions to Japan by the US State Department at Geneva," the statement added..

World Cotton

They seem generally to think | manufacturing states wore that cotton manufacturing and session. cotton agriculture in the United Stoles are inevitably doomed unless Congress restricts the imports of Japanese goods by a quota system."

The statement quoted Board Chairman

nun Mr J. Spencer Love Industries' Inc. of Burlington New York, July 13. the world's largest textile or- Expiration of the July

ganisation. con-

that

Markets

18

int-

It

The Alabama legislature mediately adopted a resolution denouncing the "secret" Geneva action and calling on Congress

quota system, to Impere a

concessione claimed the tariff constituted "a grave economic crisis" for the state, both industry and in cotton agricul-

tract feature the trading in the unless the US Governs ture.

cotton market today.

11s

July spined 15 points lower on heavy liquidation nad eon. tinued to fall off until it went off the board at 12.30 p.m. anal trading range was 33.27-32, which was 38 to 43 points below the previous close. Ils close was 65 to 70 points under the Oel. position.

to

The list closed unchanged 5 points lower. Opened 3 to 13 New Orleans points lower. closed 5 lower to 2 higher.

something to alleviate the position his company would close down its cotton, spinning and weaving operations and, buy its uainished catton goods from Japan.

REDUCTIONS

The tariff reductions granted Japan by the US under GATT became known while the legls- lature

of two southern textile

There were only 9 transferable World Rubber

The decline was tempered, notices issued early at New York too, by lighter volume with and 2 at Now Oricane, but after turnover totalling 2,300,000, the delivery expired around 400 lightest so for this month, com- pared with 2,030,000 yesterday. New York Stock Exchange hord volume was $4,540,000.

Stock Exelange American volume was 600,000 shares.

YESTERDAY'S PRICES

Alden Ine. Any. Afted Cherifenía

Ailler Mill ine.

Alllo Cistlinera

&

dry.

American Airline American Cynnamide Co. Am. Mael, & Amulean Metal Anerican Smelting A. Sugar Ref. Arrrrican Tet & Tei American Toh. "B" Anaemion Copper Armen Sterl Atmout

Baltimore & Ohio

Benguet Cons.

454

Markets

Singapore, July 13. Liquidation of physical stocks by Federation dealers

additional notices were issued for southeastern mlil interests whe were holders of the cert!- febles stock. A total of notices were issued today..

These notices were reselvad by ¦ the rubber market to ease during leading spot interests who were the afternoon. All selling 'was

well absorbed... Futures: No. 1 rubber per 1b.

$25% heavy buyers -at-widening

114

3074 | differences all morning. 7216

A steadier tone appeared in the other months after the July expiration Rnd the market months turned quiet. These were of sightly in early deal ings in sympathy with the fail- ing nearby July contract,

Trading volumes and open in- terests in the Exchange today

wcret

Open interest

13,300

Baldwin-Laina-ifnir.

Bendix Aviation Corp.

Bong Abulate

Bethlehern Støvl

1514

1 Month

Volume

July

Oct.

43.300

30.650

A14,000

Borden (The) Co.

Burroughs Add Machine

301

4.

25.200

681,8

Canarian Pacific R.

3324

Mar.

0,300

231800

of

Case . 1.) Co.

M43

13.000

302,360

10

C. I. T. Humcial Comp

402

July

12,700

110,000

Oct.

6.500

Cat. Tractor

Dru.

700.

$2,400 7,500

Celmese Corp.

Total

There is tank division stationed in the area of Olomoue

under the direct command

the army headquarters.

11 is bolted out that while

anost of the units are stationed

in the western and southern

Chase Manhal, Baiste

Chrysler Motors

Colgate-Palmolive Co

regions of the country, the East | Commercial Credit

German frontier is almost free of troups.

The army is sold to be

them with 700 tanks, 000 of

of the type T 43 which is similar to the tyne T 34 but has better armour.

The T43 lanks

are produced in Czechoslovakia

licence. under Russian

The

others are Stalin III type tanks which are equal in tonnage to The farmer German Tiger type.

The air force has four divi- Flons with about 25,000 men. I

Commonwealth Elee,

Consolidated Edison Continental

Oll of Del. Continental Steel Corn Products Cine Co. Crown Zellerbach

Cuban Amer, Sugar Curtis Wright Diamond Alkali Dow Chemicals Dupont de Nemours Easunan Kudak

Erle Battrand

Family Finance Corp.

General Electric General Motors

Gen. Pub. Uul

is equipped with about 1000 Gillette Safety Razor

planes. 400

of them m

MIG fighters, 200 of the IL 10 type, 100 transport and 100 army co- operation and reconnaissance planes. Some are stationed on Sicvak airfields as reserves.

Most of the air force's opera- tlonal

bases are in the Czech provinces of Boliemia and while there are some Moravin, senttered bases In Slovakia, such ns at Preselany and Malacky.

ATOMIC WEAPONS The reports did not say whether Czechoslovakia also had atomic weayons.

ever, nons

40

158,000 2,133,300 bales

NEW YORK

Prices of futures closed today as follows:

Spot

July

Oct.

Dee.

Mar.

May

July

Oc.

Dec.

NEW ORLEANS

July

Aug. Sept.

No, 2 rubber per ib. July No. 3 rubber per lb. July No. 4 rubber per ib. July Spot rubber unbaled... Blanket crepe ... No. : pale crepe

couscu

12424-123

120-1201

unquoted 1134-11015 10015-10913 104-1032 124-125 €7-00 173-120

NEW YORK Futures today closed 3 points higher to 10 points lower with sales of 247 contracts.

Most of today's trading was done on the Exchange with the nearby futures moving up on

in

The Georgia legislature adopt- ed a somewhat similar resolu tion temanding Government

action.

Industry leaders claimed, ac- cording to the statement, that the new concessions, scheduled September White

to become effective 10, repudiated earlier House assurances representatives,

REPORT

After studying

10 Industry

the schedulo of concessions,” the American Cotton Manufacturers Institute reported:

give of

TRICK"

V

Leicester, July 13. Brith exille firms should try "every produc flow, promotion and selling "trick" to obtain

Kair share of world trade, Sir Ernest Goodale, President of the Silk and

Rayon Uxers Association, sold here today.

Wheat Purchase

Ottawa, July 13. Canada has assured Poland that commercial sales of wheat to that country can be insured under the Export Credits Insurance Act, but so far no. application for insurance has been received, Parliament was told this week.

Trade Minister C. D. Howe and Prime Minister Louis St Laurent denied angry Opposition. charges that they had misled the House on the status of negotiations on the wheat sale.

Mr Howe confirmed in the House that a Winnipeg wheat exporter har bought 60,000 dom 1ons of No, 5 wheat for

·livery to `Poland and pold' cash it. The exporter is Charles Schwartz of Northern Sales Ltd, Winnipeg...

of the <lea}

The disclosure

raised a new tempest of Op- position protest.

Speaking at the annual lunch of the hosiery and kultwear export group, he drelared: "I am as tired as I am, sure you are of being told by authority Was textile exports have tended to fall wille Gemiany's for example are rising, of course they are,

"Wo captured n large Continental part

of tise textile exports after the war and it is incvifabic tlist wo 'should lose some of this as our Continental competitors come into

their legitimate field agala,

"At the same time It bchoves us to see that we do not lose more than is Lisential

and that we try productions, promo- cvery tion and selling trick of which

deal. He raid negotiations were we are capable to

still under way and that "dical might fall through."

secure our fair share mure,'

And

China

Mall

Special,

HONGKONG STOCK EXCHANGE

to

Favourable

Japanese Exchange

Tokyo, July 13.

DEMAND REJECTED Conservativo leader George The Bank of Japan announced Drew complained that state today that Japan carbed a ments by Mr Howe and the favourable foreign exchange Prime Minister, and speaker balance of $53,000,000 in June, The Bank sald that June Rene Beaudoin had led the House to assure negotiations foreign exchange income totalled

and were still under way. On Tues- $220,000,000

payments rejected $173,000,000, day Mr Beaudoin demand by Mr Drew for · a

the

chance to debate

The Ministry of International"

wheat

Trade

and Industry reportedį meanwhile, a postwar record the

high in MITI-approved export was contracts during the January- Mr Howe sald Mr Drew "distorting"

Juno period. the

subject by at-

Approved

contracts for the it to the Ming tempting to liken Sung Ship deal in which a nume period totalled $887,712,000, ** ber of coastal ships bulit under 23.2 per cent, increase over the Federal

Icons

for a Nationalist some period in 1954.

MITI estimated that the con- Chinese Company were slezedi

by Red China before the loan tracts resulted in total favour- able balance of $140,009,000, the had been repaid.

"This is an ordinary commer-first time since 1982 that the cial transaction,"

Prime balance has been in the black

the

Minister said. "We may be for the first six months-United making a mistake in trusting Press.

the credit of the purchaser of

the wheat, but we do not think wo are making mistake."

త్త

1. The concessions the Japanese a guarantee

(From Our Correspondent) excess profi on 75 to 80 per cent of the cotton fabrics worn

Business done on the long-said, "had there not been a re- United kong Stack Exchange this morn by the people of the States,

$901,850.70. ing amounted Noon quotations and the morn

• 2. This guarantee of oxing's transactions: Cess profit on every yard of SHARES BUYERS SELLERS SALES goods the Japanese sell in this BANICS

HK Bank... 1703 (E39 191705 country is larger than the total

20 « 1900 profit per yard being earned by

231 East Axta the US mills.

INSURANCES

Unlun

on

IG}} Lombard .... 5845 Underwriters SHIPPING

100 @ 53

0.47

Asla Nau. Bibc.

27.21

The ACMI claimed that "the Japanese were guaranteed excess prot since Japanese goods are now being sold here In quantity and at a profit- over the present tariff andl under the prevalling depressed prices of American-made cotton goods-United Press,

short covering and closing at LONDON STOCK

new contract highs. May and July had reached new highs but fell off slightly on light profit- taking.

Physical offerings were

light with no factory interest reported. Spot No. 1 Rss were quoted nominally at 40% cents. Futures:

Sopt.

31.050

Dec.

expired

Mar,

31.04

May

34.25

July

31,30

Sept.

33.97n

50.00

3.3.00

LONDON

The markot Was

40.00

30.00

37.00

35.85

34.30

23.301

MARKET

London, July 13, Stocks turned upward in Increased trading on the London Exchange today,

Shaking of the dullness of the

two sessions, the past market closed with a long st of mederate gains,

Demand developed for British Government Issues with the active issues showing gains up quietly to 2% of £7/16 in the face of

tho balance of

steady with spot quoted ni 37% penee. Prices:

Prices of futures closed today Settlement house term:

33.00 expired

34.04

Aug. Sept. Oct/Dec. Jan./Mar.

Apr/June

302-374

24-3436.

3144-34

20-0

24.25

General market, ett bald, ports

34.42

July

34.42

Aug.

Sept.

33.82

LIVERPOOL

as follows:

Glidden Co.

Spot

Goodrich . F.) Co.

45

July

Goodyear Tire

5014

Dec.

Heyden Cheinical

10%

Dec.

Homatake Minmɛ Co.

38%

Mar.

Ingersoll-Band

Inland Steel Co.

Interchemical Corp. Int'l Business Machines Int'l Harvester.... International Nickel

511

May July Oct.

42015 Dec.

3824

International Paper

104

Int'l Tel & Tel

271

John-Maryitle Co.

Kaneus C. Power de Light

Kennecoli Cupper

116

as follows:

Liggett Meyers Tob. Co.

Lockheed Aircraft

44

July/Aug.

211

Oct/Nov.

Lone Star Cement Co.

Dec/Jan.

23777

Mor Apr.

May/June

110

30%

Loews Incorp.

Lowenstein & Sons.

It was, how-Mesahl from Corp. stressed that atomle can- Minnesota Mining

had been used during Mission Development

Monsanto Chemical Co. manoeuvres of Polish, Czech and

Montgomery Ward Russian troops in the Carpathian Motoraia inc,... mountains.

National Cash Tog. "A" National Dairy Prod. National Distiller National Lead

Rudo.

Pravo," the chief Czech Communist newspaper, recently stressed that Czechoslovakia's military position had greatly im proved in the past 17 years.

Whereas in 1938 the country's 3.010 kilometres frontiera for (2,430 miles) bordered "hostile" 560 kilometres (220 miles) lying

were now

Some

kilo-

National Steel Ceep.

New York Central

On Mathieson

Otis Elevators Owen-Illinois Glass Pacific Gu Elec. Pacing Pan Ameroun Airways

Paramount Pictur

open as they bordered West Penng J. C. Co. Germany motres 1,700 miles)

frontiers today

2.710

bordored

J'enn Ball Co. Philip Morris

of Czech Philips Petrofeum

coun-

& Gamble Co Durch Ninte Glase

Purakker industries

tries which signed the Warsaw treaties on May 14 this year, Pure Oll and through Austela's declara-

Radio Corporation Heo Motor tion of neutralliy another 870

Republic Stoel kilometres (350 miles) Were Reynolds Metal anfeguarded, sold the paper.

Shell Oil Co. Baint leg. l'oper Whereas in: 1930 the Soviet

Sinclair Oil Unlon did ngi border Czecho-Bacony Vacuum alovakia at all, Russian troops. Southern Railway (Com.)

could today come to the rameue,

II

Immediately as the two coun-tandard & tries hind 100 kilometros (64unded of of Na

miles) of joint frontiers.

ver before have we had deber Packard Corp.

Fuch favourabla frontiers. And Texan," Co,.

never before have we beso powerly Century, Tux. Tüm

trong Rude Pravo claimed, China Mall Spoolal.

Union Carbide

Union Facili

Futura closings, Americon

41 middling, in pence per lb. were

403%

0715

1214

32.43

30.00

30.0

30.10

30.04

Sao Paulo futures prices were not available today. United Press.

London Wooltop Market

London, July 18.

Wooltop futures market Was

lems likely to Payments prob- {

the sicep rise in British coal prices.

DOCKS, TTC.

E. Wisnet Dock

Provident (0) 15:33 15.40 2123 Wheelock

17.46

1230

15.30

D 1.10 7000 0.10

1500 6 03

1000 6 0.03

LAND, ETC.. HK Hotel

17 17.20 3000 HK Land

72 413 ... 714 Humphreys... 10.70 18.3940. Realty

2.30 2.373

17.10

12

10.03

100 $27 5000, 2,378 100233

UTILITIES

Tram...... 24.2324.49 102 21.39

151 Star Ferry. Y'mati Férry 120 121 200 120 C. Light (0) 22 22.10 200 to 22

1000 60 22.10

910 22 C. Light (N) 17.30 171⁄2 200 17.40 3500 e 17.30 Electric ..... 424 4212 500 425% 1595 or 420) Telephone 341% 3444 500 or 31

500 6 3412 INDUSTRIALS

Cement

Hope

1712

Dalry

Watson

2700 3234

2321.40 125 6 24.00

750 20 2000 / 23.10 1940 14.0 500 14.30 004 14.40 20CD 145

Textile Corp 6.20 6.50 2000

61

1900 6.30

Nanyang...

2000 0.23 6.60 1.70 2000 - 8,5

2000 0.47 1500 0.70

Blue chips featured among COTTONS industrials with Rolls-Royce up

3 and several steels up 2s or mare. Most gains,

ran a shilling.

however,

3314-35

Olls were usually active with MISCELLANEOUS unquoted

Burmah Untied Press.

up6s 3d and British" Petroleum 4s 3d while Royal Dutch fell £4,

New York Sugar Market

derman Potash

bonds out

with a rise of 20 in the 64%

£2.

and £3gains in the 7%. Young Loan Japanese

were

gained active

with

New York, July 13. World No. 4 sugar futures Electrie-United Press, closed 1 to 2 points lower with sales of 6 contracts,

gains ranging to £3 in Toky

closed

Domestic No. 8 sugar unchanged 1 point lower with salon of 77 contracts.

World

quiet reported

-Yangtazó

Allied

5.55 5.60 1000 3.00

Singapore

Stock Market

Singapore, July 11. Brokers today quoted the fol- lowing stock prices:

LONDON METAL

Borneo

in the raw market,

futures were today with no sales

Domestic futures also

follows:

Werd The tin market was very femrage & Meavo Ltd. Ta cum quiet with raws holding at 0.10 with spot marked up 31⁄2 steri-longkong & Bhanghai Bank- cents a pound. Cane Sugar' com, Ing. Other metal markets wore in Corp. finery appeared to have covered also steady. Prices closed to-longkong Tin Ltd.

dky a sterling per long ton. As Lunas Rubber Estates Ltd. their urgent needs, Futures:

Contruct No 4 (world)

PRICES

London, July 13

Batu Lintang Nubber Co., Ltd.. $1.55 British

Petroleum Syndicate ............................................... Carpolidated Tin Smelters

43/~

24/04

Fraser Neave Ltd, Ord.

prof. G

$1.73

$4.65

#035

7/100

Kempar Ltd. “Whoe

$1,65

#2.15

Malayan Breweries

...

13.95

New Berendsh Rubber

buyers sellers

Lid.

The spot

743

740

Petaling Tin Lid.

738

739

Hamley Hotel

240

380

Singapore Cold Storage

342%

347

100%

Ltd...

Zine thḤ July

Idle all day with a turnover of | Sept. 10 lots. Near months were easier Oct

March 40% by a fourth of a' penny, Closing May

prices were:

July Sept.

July

Rept,

Oct.

Dec.

Mar

ATAY

July

Spot-teenid perth, for, Cubay

Contract Ne, B

AUE

Bepit.

Nov.

March

MAT

Spot-(corts per the eff

Cēsu-duty

3-morith

Coppée, społ

| Loog`int Pr

àanguth

$1.00

$20.00.

$14.00

33.72

New York Foreign

That South Drillah Insurance Co.

Straits. Trading,

01 Bloomship 9144 Unted Engineers Pren. Wodres Bros.

NEW YORK METAL

REFUTURES

New York, July 13. of motal futures closed":

b. as followalt

-China Mell Special...

London Foreign

Exchange

"In the case of the ships," be

volution In China this loan would have been repaid."

Ho sald the sale of wheat to made on the as- Poland was sumption that there is not go within ing to be a world war the next 12 months-United Press.

EVERETT

Exchange Rates

Business was done in the local

market this mofficial exchange morning at the following rates

5.80 U.S. dollar (per 1) Bierling notes (per £1) Austrailag notes (per £1) Indonesie rupiah (per 100)

tam ticals (per 100) Singapore (Stysite) 2. Indo-China plostres, (per 100)

LINES

EVERETT ORIENT LINE

Fast Regular Wenight Retrigarston Pamonger Norvica Loading for Bingapore, Pedadz. Kangoon, Calcutta and

"DNADEVERENT

"LENEVERETT-

**TKDEVERETT”

"KOREVERETT"

Chittagong.

AT. July

17

Balls July 10 -- AUR. 1- Aug. 2

Sept. *

-Sept 20

-- Sept. -- Sept. 21

Leading for Kobe, Osaka, Nagoya, Yokohamım.

"REBEVERETT"

"NOREVEDETT"

"BRADEVERETT"

"LENEVERETT“

Arr. Aug.

10

Salis Aug. 11

*** Aug. 23 - AUR. 24

Sept.

7

-- Sept. - Sept. 23-Sep-2 LIMITED PASsenger accOMMODATION.

All the abovo subject to uliczaifen without notics.

EVERETT

STAR

LINE

FAST, BEGULAR FREIGHT REFRIGERATOR SERVICM Loading for Singapore, Pars Swettenkant, Madras, Colorado, Bombay, Karachi & Persian Gulf Port

Afr. July 15 Baile July 18

"STAR KETELGECIR❤

*STAR ARCTURUS“

"KYAH ALCYONE"

"STAR DETELORUSE”

"STAR ARCTURUS" "THAI”.

Au 10

-

- Aug. 17 Bept, 0 - Sept. 10

Sept, da

---- Oct. 14

Sopt. 21 Oct,

Landing for Kobe, Omaka, Nagoya, Tokabants.'

"STAB ALCIONE" "LAD"

AIT, July, 20

13 - ALLE.

27

Salls July

20

***Aug. 14. - Aug. 24

-Bapt. 17. Sept., www.Oct.

4 -- Oct. LIMITED PASSENGER ACCOMMODATION. All the abere subjeci to alteration withons molios.

EVERETT STEAMSHIP CORPORATION S/A

(Incorporated in the Republie of A Params with Limited Edibil{{y} .: Chinese Department: Telephone 28293. Queen's - Building, Telephone: 31206,

MESSAGERIES

PO Box 53. CRA

CAME

FAST PASSENG

MARITIMES

35.67

12.06

12.09