1955-11-14 — Page 9

THE CHINA MAIL, MONDAY, NOVEMBER 14, 1955.

TRADE and

COMMERCE SECTION

Page

US Production & Spending Records Railroad Issues

WEEKLY

TEXTILE

MARKET

REVIEW

New York, Nov. 13. A summation of opinion

that

In the cotton textile trade Jast week indicated "business is good and getting better."

un

E

Usual netivity in most aretsomr of the murket, despite two une tervetung holidays.

ite:lert Eighten up the supply Types of goods us prices feruled to work highes Pint mails reported good-sized order backlogs through the drd quar te of next year

1955 SHOULD BE MOST

PROSPEROUS IN COUNTRY'S HISTORY

By JOHN MORKA

New York, Nov. 13. Business optimism continued spread out in the United States last week.

With only a few short weeks remaining, there was every evidence that 1955 would see the US economy roll up all kinds of production and spending records for what will undoubtedly be the most prosperous year in history.

ht

WIN

WEEKLY

N.Y. COTTON

REVIEW

By William T. Plunkett

New York. Nov. 13. Cotton futures staged good-sized

Ingl recovery week when the market broke away from the dominant Influence of 1 big στην prospect.

Finishing with uniform gains for the first time in a month, the fisi a1 Turlay's close ruled up 10

50 points, Im! 50 cent to $2.00 a bale higher than the preceding week.

of

Ex-

for

| French Economy

Recovery

Paris, Nov. 13.

France's strong soonomia comeback was marked by her largest surplus of the year during the month of. October

the foreign trade balaner.

France piled 14,056,000.009

Push N. York Stocks Higher

By Joseph Michalski

New York, Nov. 13. Prices on the stock exchange in the holiday abbreviated up

week, moved higher under the leadership of railroad issues.

francs over-

scan 1US$42,000,000)

plus in its overall trade balance including overseas territories.

For the first time in two

11 years

also showed 1 favourable balance of 48 1.000.000 franes (US$134,900) in in trade with foreign countries.

The overall trade balance for the first 10 months of the

showed a good y car profit who last year i showed a deficit, -- United

At this widespre. I

Meanwhil the big demand have fuad oftlen for many spiling over at 1956 from Eurgje 1 not helping, mouths from their customers to

That's the line. jsticimakers La the effort to buy Ford Stock when usud The New York Cotton

Secretary of Commeet demand The steel in- | "Pilco

nu factor, lop change, closed on Friday Mi Sinclair Wickx. |n|dustry will wht up to 12 million broker subd Wall Steoters observanos Veterans Day, After five weeks of meltunkiv Lakok He said stress wil bans of uw emparents over the mernwhile

Press. speculate that th❘ will resume activities on Mon- expanding sales, mallmen thought hat huther levels in the fist half next 3 to 4 yeurs, ad a cost of 'prive the stock might be in day The New Orleans market the buying Tempo by mamyfac In 1956, cenazed to frat heli cửugh to help the pitset tight | the neighbourhood of $60 a share, Į remained opet on both holidays,

supply situation

turers and piece good markets | 1955

would quicken even more in the eining weeks us a foreru

to expected larger relach sales

And there was no dearth of indications last week alaning Turkber 192 the high level

activity the Dutert e vajoying that days

Now the Japanese exinarters fecuramde bove agreed an principle on it State voluntary lan to conftel ex-

poris at volton goods

United States affracted

tion

fu

The 2012-

The action enlivene thebate on the question and, Je die gree, acted to modify CONUTTAL felt bure about campetition from low-priced imports

AUGGESTED APPROACH

The Japanese should approse li this vital subject in a way that will assure the American dustry the market here will not suffer because of thei heavy shipments. was the reuelan of

one commentator.

into

The

11144t nst under presse for werk from uncertainties at - Love from Pasadent Eisenfrowes

bucarved back with o AIRMA than #1 hair wi

til

-}

SINALOA 12.

Stock Splits

entens

23

Some Concern

Economist.

bu mesmen air watching visely the govern- fals tor introl

re

tou!

POLPEN

felt

auflation,

Sum

ever

have lightened notgage money Pen credit pstractnay which

somewhat unit cut down

2 kg: od:

Bus

about the downturn.

Ip

Ac

new

serenik ta evolve bechniques for applying nuclear energy as a source of power, The Juture markel of oil continued

be the subject of considerable derest and speculation There

In

Sustained Rally

in the

021

Top

Sindained rallyng power face of a big Increase in government erop estimate Tuesday suggested that previous sharp declines in the new months had discounted some of

benrish

The [ aspects

19 a pele af agrement, however, that of has little to four from this

setter of energy, and the that ir sme time, at jenat, the calefistical pleture atom and all will be able to live | This year's crop, as it shapes together peace bly

electric

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

L

Gains in the carriers ranged to more than 3 points on the week with a few issues showing much wider improvements. Other departments also met demand. Metals, steels, autos and oils were strong.

The nuki machs its best showing

Friday which was Vele as Day.

As a result Ure advaner was accomplished on Hitle volumen.

The It this week advanced In every session except Thursday 'Tha merkel WAN closed +3 Tuesday Eleellon Day

lust

WYCH.

General Motors (new) featured fo the motors, adding 4 points to 60%. Chrysler, solling ex- thevident, countered the general 1:end with a loss of 1% points to $93.

On the week, the popular in- dustrial average showed a gain of 0.10 to 470.34; the rails 7.18 L 188.0

189.80; and the attitles 0.31 ter 04.08.

A text of favourable on- pate

Of the 1,391 Isues traded in developments bolstered the market

the week, 798 eksed higher, 417 Agon Giant Standard (HI Co (NJ) sat unchard New highs were re. Anished lower, and 184 held would spend $1,200,000,000 1930 Chipsler Corp. dischord its plans to spend one billion dollars over the next Eve

In

Confidence

also

~

sekiz the respective TAKMICUTenis, In th Business dane ou

Jersey The long-Slused!

the Chrysler, kong Stock Exchange 11thon's thud largest auto pro- morning amounted to $770,000 u

expressed strong Noon quotations and the morn

the USS qullook g's transaction

SHADES BUYERS AKLLERS NALES

BANKS

Kah

now. would be eight per cent Acemling Į some observers comment in this!

To a study by Mr more than last year despite the Is Upham,

that government planting e murdity and fact xxmmertua that the very same investment truker, the pumary controls tok 14 per cent of the

who are xt insistent effect will be perple

fell by residual gerente out of cultivation. Near- aten halting the harp rise in Lay stock splite, a hol

residential balding are practi-

fuel and in the United States. As Hy as much cotton is being pro the TAN LE Ek dividend

Houst profitable product of duers this year at 10.5 million and cally the same whe me show the oil business, ritual has beacres in 1951-52 when harvested pearls, parket prices 1- cached the Inghest level tru

come less important in domestieren was 40 million acres great- nye wecke Be the best showing For the moment at rast, the operations. with less than 2097 sure the President's heart ut- upward rise of

donetle winery interest rates per echt d

New factors lending tak

to over- September

runs producing residual sent | 4ptars to have halted

Money

shadow the crop pleture, traders prices tumbling in ne of the rats in soute instances, are fell

said, includes: 1. The extra- Another Factor biggest drops in years

to have cased in recent weeks.

heavy rate of producer im- But be expecta any major

the poundings under change

Since

govern- INSURANCES Ches

goww nanent's

generating ment loan; 2. Expanding busi- credit policy at least not until stations will be the first to use

ness in the textile market at 1956. That will be a presiden-nuclear energy, the agency noted

3. The tint elevi

higher that the total amount of residual higher prices; Elsewhere a third viewpoint in

stock market trend; 4. Strength fuel us in power generating in spat December following the debate questioned whether

For the moment, I is it that in the United States in 1053 re-

further sharp reduction in the American consumers should be

givenment experts think that presented less than 3.5 per cent amount of cotton available for criticised for utilising the

The production reards set in inflativa mather than deflation of the total volume of crude oil

contract delivery; D. A bellef 10 all-time peak of 1953. Pro- Es chance to Inay goods cheaper in

major threat l the runs. Other users of residual Japan than here. Purchases duction that year ht 1116 nul-

un eurrent ɑrap deliveries nation's l

fuel such as

as railroads, tankers, Hot Tonks for a four per cent Han, few cents cheaper in Japan are

31⁄2 penta for middling 15/18 factoris, mines

space-inch cution. made necessary to meet com-

Mr Summer H. Slachtor, Pro-heating units, will require many Despite the record production of petition from the Far East 111 ncent weeks, new business sull. It go of Economics et Harvard yours of research before techni

And there's University and a ranking expert the domestic market, one trader outpaces output.

ques are developed to make it contended. "To criticise us for chance of a let-ti, u

in his field, rehoed last week feasible preveri sperations lo this is merely to ignore the fact

The prevailing buses senti-The new type of atome energy. that we must be competitive to

ene i Zi published views on survive," he insisted.

Calling for quolas one spoke- man insisted low-priced imports were "Inifing

On the pardation front, steel American production, sales and jobs and continued in the spotlight Steel creating chaos in the US textileperations WHIT scheduled at 983 cent of cruelty, with no indication that the industry will break

market,

Meantime, another facet

on

the import question opened with reports to interests will Bom- bay connections of Increased American Buying in the Indian grey cloth market after a lapse of several years. Orders for a million yurds of goods

[20

STX

or seven months at least, nord-

ing thirty LES 1 har

JULEK system d beat

1.

She

A earn,

1

New Record

Union XD Lembarg

ค.บ

DOCKS, ETC.

A

K. Whart Provident (0)

Un

Wheelock

The total domestic supply of ruw cotton. based on the latest crop estimate, for the present at 25.0 gured

Wats

of

got so bad thin steel consumers The econome picture. He foun: Another Important factor will season

The stock market break has be the tremendous increase in million bales, a new record high. a "despera- ben Axt one it is better total energy requlivinents for the The previous record

24.B Lions" move to keep preluction | have a substantial curvethan be word. By 1975, according to million bales was established in ties going { eports Tren Aga hind as thin to wonder when piletas, energy consumption the 1839-40 season. Magazine, the industry organ

ЈЧ is going to come.

ct lens! in the US will How by et 85 per cent. All the standart It distribution this season ful-

of energy-eval,

12.0 gas. Alls estimates of around hydro-electric power-will share million bales. the end-season "The

21 Will conimuo Chis

expension. Oll is also surplus next Aug 1 would be Uncertainty about the politiealexpected

13.0 to supply much of the around

million bales.-- future will sumply

to increased energy that will be United Press. Flessen the danger that the boom Wonsumed

will develop excesses.

Many compunies have neigtied report-sprell task harves to freting edly have been placed recently it odd Pola of steel that an from the US with Indian mills. jeiker -United Press.

Frade

UK Govt

Suffer

IS willing to

Securities

Losses

London, Nov. 13.

Reports that the credit "squeeze" is to be

1

Will Continue

יוי

new Uses are constantly being, developed. And future demand will be tremen- "Plant and equipment buying i hus, Forecasts

1.tut will be mereased in 1956.

! 1975,

US consumption will he Tekee to 15 million barrels a day.

"Spending by stales

14+C

municipales will continue Foreign Consumption

| rise.

"The upward trond

tr

intensified, and a deterioration in the international purchases of consumer goods by political situation, caused heavy losses in individuais is not expected to be crecse at a more rapid pace: government securities on

Stock the London Exchange in the first half of last week.

holled.

6.cre for 1956

Kistered by B stocks and 36 mathe new lows.--Unlted Press.

PLATINUM

PRICE

RAISED

London, Nov. 13.

Rounding out the expansion picture, Mcgraw-Hill Publishing The Baker platinum division Co. disclosed in a survey that of Engelhard Industries Limited American Industry will spend have

rulsed

their price for $33,000,000,000 next year for ex-platinum from £29 to £32.10

per troy ounce with immediate effect.

1601

21000

20 1000

10 ve 1800

10100

persion and modernisation.

40 a pzu

חקון

Tika Pacifte stole the spot- tight in the rallroad group. The

The two leading refiners in the stock closed with a gain of 2014 UK. Johnson Matthey and points to $180. Wall Street Baker Platinum are thus quot

13 312145quarters expect

directors

of

137514.70 Union Pacific to split the stocking a uniform price of £32.10.

and al the

same time take generous dividend action when they met later this moth

But this level 13 still well below that

in the US quoted where the major refiner is quot- ing 97 to 80 dollars per ounce, American-Hawaiian Steamship the lower price being equivalent was the bellwether in the to around £34.10. [specialties. Ch the

week, it

Universni demand Spurted $224 points to $118 metal remains heavy especially

1000 15

070

1000 0.10

100000 1000 8 80

LAND, ETC

IK Hotel

10.40

HK Lord Rts 2015 Humphreys

1300 or 10.00 5000 10.70

158 29

19.40

02 2

A Rubber Trust UTILITIES

5 130 1009 « idur, lighted. 2 jo

Tran

21 20 214 300 1100

21.00

21 60 points to $238.

Y'mal Fetry

29 101 200

101

100 100

(N) Really KUBBER

4. Light (0) 20 70 21 10

€ Light (N) Electric

Triepigano

INDUSTRIALS

Cement

The Bank Of England STORES, PTC.

Statement

securities

Sterfing 1.772,215,004 10,742,002 312,248.201 201,723,010 06,498,620 30.559,357

"The Federal government will

Foreign consumption will rise

London, Nov. 13. The Bank of England state- have to increase its help to the aise, as industrialisation becomes statcs anki

widespread in

ternment for the week ended Nov, Western nrunicipalities for more schools and roads.

Europe and Latin Ameris. Per 9, reads as follows: (cupita consumption of oil and Note in circulation

growth of population in foreign Public depostin arcas La tiso expected 10 - Private deposits

Government than in the United States, thus other securitien

Receipta beasting world-wide demand for Rails "There will be no change in peti

petroleum. In Latin Amerien the basic policies of the Elsen-and Western It is widely believed in the city that the Bankhower Administratim."

Europe, according to Harris, Upham & Co., a con- of England has warned London clearing banks

sumtion of

7% to 8 milion that they will be required to continue cutting their besis that Professer Stichter was advances well into next year.

forced by the appearance of now £10 million Rhodesia and

Wall Street believed on this

saying that buskitss wal remain good

Its experts, however, said business could remain

good

[observers here feel, despite the

· On „the ́ investment front, 'in-

United Press.

0.2

barels daily has been predicted The Bank Of France In 1975. This compares with the present consumplices of only 3 million torrols daily.

Statement

Franc

201,201,599,420 10,270,683,331

Dairy

Watson MISCELLANEOUS

Aitled

10.30

for the

In the ads. Texas Cv. high- on Industrial account. AS

I bumped 6 points to catalyser, and trade quartors is 16. Du Pnt sparked the say that prevent supplies are Jelements. 11 naved

11 inadequate p

to salisty all rc- quirements.

Meanwhile the UK free mar- pared the ket price continues to strengthen

Magia Copper 200 10.30 metals, moving up 10 points to! and la now put in the region 200 10.70 $106.

$500 21

100 21.20

600 31

37 Inis 300 of 37 2300 38 DUSPX 3503034

300 F 302.

33 39 200 32.75

noo u 33

18 10.20 1500 2 17,50

of £38.-Ching Mail Special.

MESSAGERIES MARITIMES

Queen's Building Tel: 26851

500 1 10 "LAOS" 500 x 15.10 “VIETNAM"

100 10.10

14.30

3.53 1000 Bl

New Goodyear

P.O. Box 53

FAST PASSENGER/FREIGHT SERVICE

sailing Dec. Brd

sailing Dec. 31st

salling Jan. 28th

FAST FREIGHT SERVICE

"MEKONG" "MONKAY"

sailing Dec. 13th

sailing Jan. 10th

"CAMBODGE"

Plant Under A NEW COMPANY?

Construction

Akron, Nov. 13. Site work has begun for the This hint of still tighter credit | October export figures and while the market went through

construction work on a 3.5 mll- conditions to come was rein-standstill in the weekend Troa- a period of readjustment. Many emas are now engaged in nuclear Some of the major US oil

Paris, Nov. 19. Ilon dollar additional plant to neury bill rate,

of the The Bank of Franco statement the chemigum plant Most stocks Anished above the impctus of

These include such favourable dividend activities. Nyasaland Federation loan with worst with war loan 34% at news, the near-term market industrial leaders as Shell Oil, for the week ended Nov. 3, reads Goodyear Tyre and Rubber Com-

coupon rate of Ava por cent.

£70,

Mobli

as follows: Sinclair Funding fours £90.12.8. picture appeara likely to show Socony

Oil.

pany's Chemical Division. This compared with the pre-

and 2% Conscis £57.2.0. some price irregularities.

Gulf Oli, Standard They

Oll (NJ), Total gold holding.. valling

The plant, part of Goodyear's Held on Consols of un-

picture a period of consolidation Texas Co. All of these are now Total

other

cur.

recently announced 100 million ler $15%.

Gilt-edged

rencies ahead, nending establishment of engaged or have announced their

dollar Other factors in the fall

Sight balance abroad

expansion programme, Inition of

a firmer base,

to participate in

EPU glit-edgod securities which be- Industrial ordinary shares fol-

reseach on the uses of isotopes Advance to Stabilisa: 200,000,000,000 will produce chemigum rubbers fan on Monday and went onlowed the lead of gilt-edged

Investment Front in process controls.

tion Fund

200,000,000,000 and Jalices used by the paper, intil midway through Thursday's though in their case neither do-

Bank noje in circula-

palat, textile and rubber in- Hon sergion were a rise in the Trea-cline nor subsequent rally was

Shell Oil, Alantic

2717.090,340,100 dustries. Rening, Current accounts and ury bill rate the first for two so sharp. The Financial Times terest centred about the decision Gulf Oil and Secony, ore show- deposito

127,052,360,140 months and a breakdown In index fell 8.2 to 100.0 on Thurs of the Ford Motor Company to Interest in research and Total bills discounted 1.085,007,100.991 he Geneva talks on German day. Industrial

development

-United Press, have, sell is shares to the public. shares

with radiation cuniäcation.

therefore, now lost nearly the Saven glant investment firms machines and reactors. SWI whole of their

port-Burgot with botat capital resources of others are concerned with ex- galna.

majo thur $100,000,000

will ploration, development and pro- But at no time Inst From 01.75 of the

week manage the first pubile salo of ceasing of source materials, such previous were Industrial shores looking so Ford stock, scheduled

as uranium, for Veck's close, the Financial depressed as gilt-edged, Their January. "The Ammas were named urition fell day by day to 68.7 proveling inflationary trends, seller of the stock.

Wodnosday only slightly and despite all that Mr Butler

then the all-time low has done to curb home demand, wike probably set off one of the samples are not attempting to do in London faces, hom

An offering of 0,408,203 shares the study observes, "that the all The market Improved on firmi Speclai. nearly September

the market is by no means con- biggest buying scrambles in 13 play, ostrich and make bellove with some places from In these Burce days, Warvinced that inflation has boers on 3% % felt 23,22.6 to £74, beaten. Number and zoocent market history. Byth that nuclear

avereggs Futures ware: unding 4% 42 to £68.15, and current wage claims alone Co. was framed Choirmari of the

On the contrary, with No.1 rubber pot th Nov Console £77,0 to £65.10. aufficient evidence of this.

Amoro rentiatio

the approach, The sale of Ford Motor stock companion, are attempting to Gilt-edged started badly again Olls were depressed by the n Thursday but picked in her Middle East disturbances.

迎 to the public was rumoured for utilee various phatod eleér ore the close and this im

Heavy liquidation was en- many month but it was only technology phu Tires with tear Nia Toywne went furtherton counted by Bouth African gold last Sunday that the Foundation they know they will even jelly today when the market winged chara," particularly free, state påt an onzial target date. - Led Bar forced to do, -United "strong" decovery on record Geduld, Baso mãials were dull, fing Wall Street: brókarego firms | Preis,

War Loans

「,,。

Imee Index of government so long mommer rise was caused by by the Ford Foundation, actual Most Important

wher

midnaging "roup,

"Most important Is the fact,"

energy docs BOL

The first of the products of the increased output aro, expect et shortly after the beginning of the new year and the entire project is scheduled for comple- In August – 1080, according

Manager of the Division. The expansión also will provide for increases in production of pliolito resin-China Mall

tion

Singapore Rubber to Mr Hermin . Thies, Genemi

Market

Singapore, Nov. 19.

bber per lhi NOW.

par is Nov.

Exchange Rates

Bieinosa, a way done....in' the Iount

| market, this

Malonemaly cupish (per 100) 3} Slam licnia(per 100)

Santinied, PreK ~ Singapore. (Bizkitaj

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