1955-11-09 — Page 9

TRADE

THE CHINA MAIL, WEDNESDAY, NOVEMBER 1955,

and

SECTION

Page

Holland's shipyards crammed American Anglo-Egyptian Trade

with orders

BUT DUTCH OWNERS

ARE WORRIED

Rotterdam, Nov. 8.

Holland's shipyards are crammed with more orders than ever before-and Dutch shipowners

worried by the building boom.

are

Dutch yards, long famous for their efficient production methods, are almost all fully booked with orders for the next four to five years. But Dutch shipping companies, faced with the urgent task of renewing their own fleets, complain that too many of the ships being built in Holland are for foreign countries.

Holland has now risen to the up to now, largely because world's

ingrat ship-building Holland's other major problem euntry, after Britain and West | the housing shortage. Germany Some 135 deean-going

vespels, 546 000

toin ling

A20

than more

under cou→ this yards

s'ruction In Dutch

year.

But nearly otic quarter these ships is for foreign comi- panies, and the competition they will later offer to Dutch lines, as well as the space they occupy In yards here, is causing grave concern to domestic shipowners.

18 Countries

No Houses

of

workmen

Lancashire Plea For Lower Employment American Down 29,000

In Year

London, Nov. 8. Mr Harold Wilson (Socialist) asked the Minis- ter of Labour in the House of Commons last week the

not number by which em- ployment in the cotton in

fallen over the dustry has lost year and Inst four years, taking The latest month for which figures are

avafluble.

Mr Herold Watkinson (Pur- Hamentary

lo the Secretary

Ministry of Labour). In the 12

months to the end of Septem- ber. 1955, there 20,000 and in the four years to the same date a fall of 60,000,

alarming figures, has the hon.

Mr Wilson: In view of these

Gentleman

made any calculo- tion as to how many more

Tariff

TRADE EXPERT

The

GIVES VIEWS

By John Morka

New York, Nov. 8.

United States can help free countries resist Communist aggression by abandoning its “Janus-faced attitude" and by adopting a programme of tariff reduc- tion coupled with aid to industries hurt by increased imports, a newly published study of US economic policy suggests.

was

Markets Closed

New York, Nov. 9.

Ebellen Day, yesterday, WEL abstrýed as a, holiday by a ružjoë segment of the financial community al- though rothe commodity and

indreta operated as tuiBEI,

The Now York and American stock excksuses, the Boston, Detroit, Philadelphia, Baltimore and Fllabarch

mhdwest stock exchange in Chicago and the markets In a lake Olly, Lon Angeles and San Franciaco operaten.

The Chicago Bound of Trade and other grain markets were opened; the NEW YA* and New Or- 16.m cetton exchanges ppersted and there Was frailing in the New York wird market and New York produce exchange.

there

Bänka wen closed, and iberefore, 100 foreign exchange. Coffee and sugar exchanges and exchange COLOR

Canadian

were

and European markets operated as usual. -United From.

The plea for lower tariffs was among the highlights of a study and polley

closed. was a fall of report entitled "American Imports" issued today by the Twentieth Century Fund and the National Planning Association. The study

written by Don D. Humphrey, Professor of Economics at Duke University and international trade expert. The Twentieth Century Fund is an endowed foundation for scientific so, that is the kind of supple- research and public education on economic and social problems.

travel long years of this Government w

dustry to die it altogether in

be needed for the colton In-

every

this country?

Mr Walkinwu: If I may gay

mentary question which

does

not help anybody, much less

Many sicilled I already hove to

distances lo of

work

they because no houses com be found for them near the yards. New recruits to the Industry can only diifculty be found with great because of this problem.

Widle the shipping companies fear that they may not be able To carry out their long overdue the cotton industry. I am try Dr Humphrey emphasised; worsteds, leather goods, floor e-equipment plans, the ship-ing to give the facts, I agree that while the United States has coverings, lace, certain segment building Industry is plagued by with the right hon. Gentleman a programme of reducing tariffs, of cotton texilles, hats, cutlery, the shortage of labour which

that it is right that the Ja- prevents it from expanding

that the gains from trade out and more than a sexes of into dustry and the country should three the principle Jewellery medical instruments the new demand-China ineel

but another fact, weigh the damage to its own producks, know them. Mail Special.

which is at least of some con- solation, is that

my Ministry Industries has found a job in some other every nian and woman who has been Usplaced

the cotton Industry.

Eighteen different routtrica, ranging from Russia to Pers£2+ have ordered chips from Dutch yards, making Holland the th largest ship-exporting nation in the world. Some of these vessels are being built with help from Holland's Reconstruction Bunk set up after World War II to help the country to gri heck on its feel

A recent order for 22 ships placed with Dutch

yarth

of

by n dreek owner living la bon- don has intensified the worry Dutch owners. Like many others built in yards here, these ships ure to sail under manian flag.

the Pan-

Chicago Grain Market

Lo

Chicago, Nov. 8. Selling met only limited Spokesmen of Dutely shipping! companies claim that owners of demand and put most grain these new vessels sailing under futures coniracle a cent foreign Bags will bened from easier tax and working condi- more a bushel lower on the

tions than their own ships.

This harm

nows

or

Board of Trade today.

Favourable weather and trop would inflict "serious

and expectations of in- to Dutch lines In the creased renespite of grain at ter- future, one spokesman said. Heminal markets Ward factors described the volicy of helping behind the decline, dealers said. yards build foreign ships

There also was evening up of "incomprehensible" when

many commitments prior to publication

crop_report due after the close Un Thursday.

ها

new Dutch vervels wil shortly jus the government's general

huve

be bulli.

Netherlands

Exporters sold 652,750 bushels of US red wheat to Yugoslavia

Industry for practically

Mr Gerald

Nabarro [Con- servativo); la it not a fact that any fall in employment in the colton industry has been inote in- than counterbalanced by crossed employment in those industries

Hon. Mebate: No.

*

Mr Watkinson; Thu fact with which I am concerned be employment position. As I have said. we are very glad, and I

am sure the right hon. Gentleman is, that so far every

In

In

the

WORLD COTTON MARKETS

New York, Nov. 8. Cotton fulurés today face of another big increase start rally in staged a

in the government crop es- Limple.

After an opening bog-down of $1.00 a bale, the market see. sawed nervously, then spurted around $2.50 a bale from the lows when the government re-

dealings.

"No one proposed to establints "This Jonus-faced altitude," tree trade uddenly, Dr Hwa- he said, "has compromised our phrey Polats out, “aizd it foreign trude agrements from the begly competition were the only adr ning. On one side, It seeks to justment, the problem of gets expand mizually beneficial out of these industries trade, on the other, it profilios | should not prove too dincliE” that no branch of home indus-

small, will

auto's try, however

opinor, port was issued in mid-morning be veriously damaged as a rotull.” | American law, prouting goe

manelib ageficiés to buy New crop deliveries gave up "American - mode goods" are part of the gain at the close contrary the natiorkij interest

unde, réalising and hedging, but and should be repeated Means the list still close het 5 to 32 white, he added, the degree of

higher. The points discrimination can be reducdppened off 21 to up 2 points. by executive order.

New Orleans closed up 4 points to 27 polble.

soine 1c

he

this even

the NPA sold,

frec com-

market

Prospects Improve

Cairo, Nov. 8. Prospects of better trade relations between Britain and Egypt brightened last week after several months of near stagnation.

British firms stated--and diplomats agreed— that they noticed the Egyptian authorities were tending to relax the ban on non-essential imports from abroad, and particularly from Britain,

HONGKONG STOCK

EXCHANGE

لله

The authorities arc now

to willing

honour

old licences auspended for SOTTUN time-issued for British goods, provided importers prove that the ordered goods were already being manufactured or shipped

the ban was imposed. when

sign Another

of improved

relations is the recent Egyptian agreement with Britain's Sir Alexander Gribbe and Company, who wil

as consulting engineers for the new Nile Dam

FINANCIAL NEED

Business done on the Hop-south of Aswan. kung Stock Exchange this morning amounted to $470,000. Noon quotations and the morn- ing's transactions:

the

SHADES BUYERS SELLERS BALES BANKS

good-no

Egypt's reluctance to Licence

of import

less-enscotin

what matter

the

Hit Bursk

100% 1070

1685

1070

of 1 to

country

origin stemmed

INSURANCES!

Unloa

10

Lombard

80

DOCKS. ETC.

K. Whert.. Dock

CG

28.00

Provident (0) 14.00

Wheelock

300

LAND, ETC

Hifi Hotel

HK Land

Ser

9.10 4000ņ

from Anancial need. Her trade

fast deficit during the

eight months of 1955 was £23,000,000. Part of this drop in foreign exchange income was caused by the departure of British troops 14.00 From the Canal Zone, and the | consequent logs of an "invisible"

17.40 2500 m 17.30 export-London Express

1000 17.20 vice.

WORLD RUBBER PRICES

Singapore, Nov. B The rubber market cased on disappointing overseas adviem and steadied towards the close

on short-covering. Futures; No. 1 rubber per lb.

113-1191

( Light (0) 21 30 21.GU

C. Light (N) Electric

00 00

100 00

INI

13

00

33.20

50

33

Humphreys

20:30

RUBB

A. Rubber

1.82

Trust

2,40

Train

23.70

Y'mati Perry 101 104

100 @ 104

50 103

50 100

13

19 3015

100 or 21.50 1000 ₫ 21.50 00021.40

500 4

321% 321%

500 2255

300 ₫ 3215

Nov.

INDUSTRIALS

Cement

Dee.

11136-11171

34% 30% 3100, de 3415.

Jan.

ungisted

No.

5415

Rope STORES, ETC.

Dairy

"Nov.

A rubber per lb.

128-11315

No.

9 rubber per lb.

111-112

No. 4

100-107

113-11534 94-36 129\2-122%

Telephone

1730

18.30 18,90 50 19

rubber per lb. 132 10.50 300 + 10.10) spot rubber unbaled 1000 18.00 Blanket crepe ...

Watson

14.30

COTTONS

Textile Corp Kunyans

3.70 11.30

J

casa

with

100 18.10 No. 1 palé po

BOO 4 18.80

Singapore

Stock Market

Singapore, Nov. 9. Brokers today quoted the fol-

Opening

Must Suffer makina man-made He emphasized further that abres? in addition, is it not SOSTIC industries

must neces- fact any unemployment in thesarily muller from imports and cotton industry has been im that it was important for mediately absorbed in other in- Americans to accept dustries in Lancashire?

tuality.

In its policy statement, the National Planning Comittee The indicated Nurember Dr Humphrey points out that said the UB shout reduce its figure came nooner the high end the question of whether imports tariffe substantially enough to of the private pre-bureau ceti-

Imports, yet In any given field will injure (inneas

To su motes. But the market action, American Industry depends on drastically as to create polities traders saki, suggested the by how rapidly the market will obstacles,

failed to Ineresno hed expend.

Any industry of community on the crop repout, a short cover-

ing movement sot in, ołody "For those dynainte Indus- should be assisted by help from

demand from commissdom man stud woman displaced.tries which enjoy growing city, state and federal agencies, houses, Liverpool brokers were from the cotton Industry who market,"

"imports saich,

nocredited buyers of the nearby wants another job we have may Increase relative to domes.

months. Techedclans said the lowing stock prices; been able to place

US Has Reasons production witheart

market had a sold-out appoor- | natu. Lintang Rubber CO. other industry In Lancashire, ing serious problems.

But in

Lid.

$1.50 ance in the mid-morning rally, As Industries,

the lender of the the more stagnant

Borneo British

Petroleum overnight and expect that coun- Mr J. T. Price (Socialist): where

Byndicate

43/8d the

other world's struggle against

Another sharp decrease in the Can the Parliamentary Secret Inclastle, the increase

Consolidated munism, the United States has certificated stock spurred cover-

TIM Bmelters of impoliteal and psychological fea-ing in try to continue purchases daily

Ord.

20/- against a recent allocation OE over 500 tons, has risen to just 11-million

Rive

of Any iden

ports may damage tione in-

the nearby months, Fraser & teave Ltd. Ort. 01.09 bushels

Denmark ay

number of nauve over 18 yours, ladicati

Lancashire dustry and require the shift of son

lowering its trade cotton available for contract Freser & Neave V cum. offerings on 050,000 workers who have been forced resources, vessels still in service | bushels of US soybeans, and to emigrate to other Industries in location of industry and migra- the conventional economic ones,"

prof

$5,00 the re barriers fully as important as delivery declined to 6,874 bales, Hongkong & Shanghai Bank- many

including

a new low for the year.

ing Corp.

$700 buy the Midlands and other parts tion of workers,"

the NPA added.

Hongkong Tin Lad, of the country? Is he aware

The current спор estimate Kempak Ltd. **The that in such migration,

abiitty of hairy free indicated an increase of almost countries to resist Communist 3,000,000 balca to the cotton position of middle-aged, people

Aftles and in their

sixties,

Ito. Dr Humphrey criticised vari-gression or internal subvers surplus this renado, plus exports, sion depends in part upon in would total around 12,000,000 whose lives have been invested pus

their in

trade the native industry

crensing of and ambiguous customs America,

with bates. The

Last UNITYUVER Lancashire, is not an easy one lations, which he said, hamper- { /*

and recent

shifts August 1 was 10,000,000 bales, Soviet tactics make i dealt ed imports by costly delaya and especially urgent for the United to solve and cannal bo

Trading volume and open with purely as a malter of needless EXPENSES.

States to demonstrate the falsity interest in the Exchange today "Whatever teriffs may be km-

at Soviet propagands which were: posed, nothing

that the Commihist can be sald in insists favour of restrictions that countries are prespectively bet-Month create uncertainty and burden ter trading partners for the tree

than fordign trade with unnecessary nations

the Astierican to expense," Dr Humphrey said.

ecoțiośny."

Renewal of the merchant fleet is the most press- Ing problem facing Dutch ship ping companies at present. average age of the feet for ships

were built before the war.

Average Age

The figure for the

The

that ked

passenger

SV

fleet, which shows the average age of Dutch Hners

more than 17 years, is even more dicative of the need to begin large scale re-equipment.

The Netherlands flect, which totalled just over 1,500 ships t

schouted Spain

tax 1,200,000 bushels of US cura dos

morrow.

Peru has indicated she will buy 3,750 tons of US cottonseed oil or soybeans old today.

Wheat cloud off 1% to 2% cents; soybeans old of $4 to 3 coats; soybeans new off 3% to 4 cents.

CHICAGO PRICES Prices per bushel in cents;

the beginning of 1985, is alreads Wheat No. 2, red in large part "antiquated" by Spol

with those of such comparison

Dec, 20536 (11) 20314 (1) competitors as Germany, Sweden Mer and Japan, secording to the May Royal Netherlands Shipowners Sept.

Fuly Association.

statistics?

the

the

Mr Walkins: I quite agree,

100

Closing pricer

I cannot answer that question unquoted without notice, however, and

20314-9

if the tion. Member puts 20424-35

down I will do my best answer it.

I

1931

Corn, No. 2, yellow Spot

1273 18236-31 13511- 13722

110%

Large scale replacement of pid pec. ships is expected in begin in the | Mar. neki two to three years,

But May July

shipping companies me alrently Sept. wondering whether they will nye

find Dutch yards able to thelt orders if the building boom | Mar. continues.

tako brc.

Data

Dec.

At present, there is no sign | Mar,

of the boom slowing down, Soybeans, No. 2, yellow

especially after a large number ov Spot of orders for new túnkers, many | Jan.

of which will only to delivered | Mar. In 1940.

300 Yards

Dutch yarde tirt alteady working at full copoelty, arid

crying out for moto skilled

May July Barter,

market Ip

Antiquated

"antiquated,

cumbersome

"European producers

for

DT Humphrey took are with arguments advanced Mr Wilson:

Do the Parliaopalled at the risk and expense many in cheap foreign labour. 122-13mentary Secretory's two sup-of expanding their Américan

Phawers and

ONDON

The market was easy with spot quoted at 32% pence per Ib. Prices:

No, po.... 3234-3396 Settlement house Derin

Dec.

Jan/Mar.

Apr /wie

July/Sept.

General markets, cif basta, Estate crepe thick Nov,

Dec.

Not

Jan.

AMSTERDAM

porta:

Kinquoted

The rubber market was easy. Prices closed today in guildera per kilogram, elf November as

followe

No. 1 rubber No. 2 rubber No. 3 rubber

No. 1 arope

1.08 nom.

306 поль

3.40 0. 340 MOTEL

United Prons.

London Foreign

Exchange

Montreal

Amsterdam Frankfurt Muan

London, Nov, A.

28014-280-5/18 2.79-15/10-2.30 10.011-10.8315 1/1.73) 31,73 17.551-1758

41.53

Lunas Rubber Estairs Ltd.

$4.00

Malayan Breweries

$3.40

New Berandah

Rubber

$1.50

Petaling Tin Ltd.

$4,500

New York

Raffles Hotel Singapore Cold Storage

$2.49

$1.70

Bolk Bestisi inmirance Co.

$20.00

Straits Trading

$33.20

Orlo

Birálta Steárnsalp

Parts

United Engineers Ord.

$10.10

Zürich

Wearne Bros.

Others

Wero

unchanged-United

Votre Open interest

xd.--Chind Mail Special,

Dat.

25.000 09.100

400,000

30.00

qve e

580,000

21,000

9,200

101000

Dec.

1,200

£3,400

3,600

20,600

by Total

1.23.200

1,000,100 beles

NEW YORK

Prices of futures cloned today

Spot

Des.

34.85 $3,01-03

Mar

MAY

July

De

that Industries do in foreign markets, as follows: and very successfully too."

plementary

the market. They are apprehensive This is disproved, in part, he question by the hon. Member that if alacio market were said, "by the plain fact

our high-wage for Kidderminster (Mr Nabarro) (developed, American producers mean that the only polley that with greater resources would compete the Government now have for recover it with mass production 11-11, the cotton industry is to stand methods. These problems are aside and see it decline so long sometimes cadigorated in the as they can find work for the minds of European exporters. displaced workers in other They are deterred froin floding "In addition, dorniceijo produc- Induaisies?

ourt if they can ocempate by the too has displaced imports in risk that American tariffs will the home market in the face of be raised if they are succosaful." | lower, tariffs,

0441

38

unquoted

2391

100-140 New York Boar

200 36., sbekk

* $18.00 WINNIPEG FUTURES

labour, which they badly head closed today as follows to doki with existing orders. Date bie.

Was Possible

28.03

Mr Wachtnison; The question of policy for the colon

Ho sild proponents of tree "This was possible becaum Of |

KEW ORIKANS dustry is not for the but for trado "go too far" in implying high productivity, which means

right hon. Friend my

the that all branches of American High wages and low file conta"

Prices of fitures closed today President of the Board of Induster can become

as follows: strong Talk. 1. have given the In- anough 10 withstand fored The author concluded that or formation, anded for by the competition. It is impossible to

the „greatmacher group fight hon. Member as to the

who proaction industries in, the US no longer nerd protection: In- would, suitor, ho

ho atided, decd,

they would profit under free trade-suniiki From

predjet with certainty Canadian,

Prices of grain futures in present unemployment position, would be injured, but it is cere

per bulliolelakidoni. Dupresa Bervice.

Lain some added.

Vulnerable' Industries Ingoria of sugar, hindblowa

knight' dibblažu ka thướch na 10] wt US production, Padditionally

The 200 serils opératiig khi the May country, of which 1) Billa | NY coffri-going veisola, poliËMED that they could vifipídy. Up to My 18,000 killed workers History Fitz than the premont muito lk 50,000.

કચ્છનાં બે lling on the s

„abour shorter

labose to the locating" névm nos kwepa kinakach will grøkt success [250% #2

LONDON SILVER

PRICES

Conduit Movi 1. ickley, Ki Talan sanas, père fou glauw for spot, andKT) Bursa (for

ho..

crops fald Dat would be stanfally", amaelad, frnd juli Tablo, montfacturing." And "United | appear, according to Dr Hum

phrey, to includo", woollense nonch

Exchange Rates

Bpot

July

Dec.

LIVERPOOL

Athbricat

„öf 18/10" inch, pênes were as follows!

rlaw cóntract

Tavollan Karriak Ján, Feb,

Paulo postori - prices zaiavailable,meliništa. PINES

Let US handle

20.004-20,00

YOUR PRINTING

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Let

us quote for your curr

requir

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