1955-12-08 — Page 9

THE CHINA MAIL, THURSDAY, DECEMBER 8, 1955.

TRADE and

COMMERCE

SECTION

Japanese Steel, Cotton Industries Rubber Trading

WORLD Plan New Cartels

RUBBER

MARKETS

New York, Der. 7.

Hubber futures closed today

20 points Tower to 85 pointa higher with sales of 341 con- Track.

de

Communis fon

24

sh houst buying orderý h ed the macket at the close

After lower rinrt. Part of the trade hclude dealer exchanges Sept -May contrae a 01 203

included

Februny

pal

EXT 201

con January

ond

GOVERNMENT APPROVAL OF INDUSTRIALISTS' ACTION

Tokyo, Dec. 7.

Japan's steel and cotton industrialists are making plans to push out small operators, reduce competition, and set up new cartel systems in an effort to solve their supply and marketing problems.

In the cotton industry, the big approval, are offering smaller mills sheets production or close down.

40 cents; Deet mber

nt 431

four

is a 40 cen a ani Drema- ber three ambers 1 32 cent. Spot No. 1 Has were quote at

Futures were

[16 Mir

MY

July West

Dec

LONDON

Both eriton spinners an-1

inanufacturers have been tricting urodvellon for some for #ferent reasons. The

fenr tha: Ins

they not enough markete

main chance of full 4) The

planes obtain Aufficient raw

51 52

1749-15

4300

320

3125

3010

tooth fo

3:04

The market wan stendy after There with spot quoted at 37-13/16 pence per l'

No 1

Beteneat house term

Jan

Feh

Mar

Jan Mor

Antune

July/Sept

Dea

to

mu erials in state of increasing

The cotton textile

Por

37*-

34-3416

27-17 30-30 Erite Pepe thick and thun alt unquoted

General markets ett basta ports

London Stock Market

London, Dec. 7.

Most sections held firm in quite trading on the Log-

were

sing pans to

as O teras" 13

industry

"freze, "re-tun- of their ades, Stet mille, on the contrary. should further and be facilities if con- Man vormi, according to the Wuntry of Trade.

Most To Blame

Smaller

firms, with government incentives to cut their

of

have shipbuilders culton mills

have also been been vigorously opposing re-enjoying an unprecedented ex- #triction of produc ion ex-port boom, porta, which, they assert, Are Japanese steel milis thus

to boost do arranged as to benefit

the tried

production urdinary rolled steel to Big Ten alone.

spinners annual rate of 6,800,000 tons in

leading the last quarter of 1953.

Some s

17

suple Abra are alleging that the cotton Till ore trying force obsolete spindles upon #uple thre spinning industry, whlie freezing better ones 13 Lescaves for future expansion of the culton mills.

Steel Industry

The Japanese steel industry, which was heavily protected by and the Japanese Government

te Navy before World War II, was dispersed and placed on

As

aver

of

an

WORLD

COTTON

MARKETS

New York, Dec. 7. Strength in new crop de- liveries featured an other- wise slow trade in cotton futures today.

13

of

News that the administration

considering the ken restoring 10 per cent price sup- ports next year on "top quailty products" brought an opening splurge of buying in the Decem-

ber months.

the

the

While the announcement said plan is betog considered, especially on next year's wheat crop, traders assumed the plan might also apply to cotton.

Interes in nearby deliveries lagged. Smell-scale evening-up developed

spot menth following the Issunner notices for 200 bales.

Leading demand spot firma suplied from other trade accounts.

The cercated stock more than 2,000 bater overnight to 12,452 bulan. manufac-

The recent steady increns in the stock aug-

com-

of

10

pared with Beluni 5.600,000 tons in 1954, but im- ports of raw materials Just did not keep with the plan.

pace

steel The lending turers decided temporarily

their Bilspend

'es ed scrap purchase price agreement, aid domestic prices for special grade Berhp iron rose from about 18,000 yen (bout £10) six months vlously, 10 25,000 yen (£28) per ton.

pre-

Ease Supply Situation

fare

additional

21

of

tenders be-

the delivery expires Dee. 18. Open contracts in the spot manth at the start of trad- ng today totalled 142 700 bales. Approach of the usual year- nd hollday quietness, จม disposition to await tomorrow's governmicul crop report, curbed overall market activity after The opening.

'NEW YORK Now York rotlon 10sed as follows:

The Ministry of Trade stepped in in October" and suspended ex- purls of certain types of iron and steel products and ordered steel mills to curtail production spos to ease the raw material supply situation.

competitive, commercial basis Landing cotton epinning and during the occupation.

mat for urers are agrted.

of the a rosult

losa of hnxertr

that excessive com-control

Chian and Mon- peliuen created

the churia. among

the industry has been af such forced to depend largely Japanese as a result

VOOR reforms carried out under the North America and Southeast Occupation as economic decon-

for raw materials such as entration and the Anti-Trust iron ore, coking coal, and scrup and Fan Trade Law, are most iron. Expansion of exports has tex blame for the

endeavouring present become imperative In order

earn the foreign exchange

Dec.

Mar

Dec. Mar. May

The steal milis are how July

d revive and Oct. expand their cartel to all phases of the industry, including im- purts of scrap Iron. They are also planning to secure or in- crease umporis of lien ere from the all practicable sources, near and totalled distant, including Southcast

to

saluation.

for quired They have been asking full authority

res or materials. To

Export contracts for tren and along Die lines

first half Zaibatsustel made in the prewar

(April to September) ot should current financial year

to pay

for

the

raw

or

don Stock Exchange today.artelsation"

Blue chips moved in a narrow range, and lonavs of a few peace In the majority. Rolls- Royce stood up with a gain of

shilling. more than

Unilever. Courtauld, and Imperial Chemi- cels showed weakness throughout the session.

Oils were marked down all day. Gold shares and dollar

stocks were easier.

British Government stocks were Arm in quiet deutings

Foreign bonds were generally quiet. Greek lens moved ahead early in the day, and the Cer- man and Japanese sections also showed a few gains. Tokyo five per cents non-asserted were in demand, gaining ubout United Press.

New

World

21.-

York Sugar Market

New York, Dec. 7. No, suger futures closed today unchanged to i point higher contracts,

with sales of 30

Domestic No. 6 sugar future closed today unchanged to 1 higher with sales of 20

contracts.

futures steadied with World roports that some Cuban sellers were showing more resistance of any

mark-down further prices.

In

In Domestic raws, dealers thought cane refiners still had o fair amount of buying to do in order to cover January needs.

Fulures

Contract No. 4 (worki)

March May July September

3.14

1

the (monopoles).

Industries, they say, be re-ci pred and the smaller 1.305 500 tons, compared with Asia, South and Central America,

enterprises, 757,000 tons in the correspond- and and less which sprang

the im- ing period of 1954. up in mediate postwar period, pushed

cfcient

ot of business.

The Javanese ration ning Industry lind 12.000.000

survived

spindles

spin-

about

before

World War 11. but only the so-called

Ten" milla *** the ravages of war. with approximately

2,000,000 spindles. The Industry was first permitted 10 expand up to 4,000,000 spindles, and about 20 new mills were added In the course of the process.

The "Korean boom" which the followed the removal of

capacity

mit for production

caused about 90 smaller spin- ners to enter the industry "like

bamboo sprouts after a spring

rain."

Present Capacity

Communist China-China Japanese Mall Special.

SPECIALTY ISSUES

FEATURE

N.Y. MARKET

New York, Dec. 7.

Specialty issues highlighted a narrow moving stock market early today in moderately active dealings.

NEW ORLEANS

futures

33 DU 3440 33.48-40

31.17

20.04

29 30

29.47

29.30t

Prices of futures closed today

as follows:

Spot

Dec.

Mor.

May

July

Oct.

Dec.

MAT

May

LIVERPOOL

34.80

34.44

IWEK

32.88

31.70

20.03

20 04-05

20.48

29.38

Future closlugs, In pence per

1b, were as follows:

Old contract

Dec./Jan.

Mar/Apr.

May/Jhine

July/Aug.

New centM:C

May/June

July/Aug

Oct/Nov

Paynten Karnok

Balance

One Up On Nearly Upset

Mussolini

Rome, Dec. 7.

ITALY'S Democratie sov

ment hus achieved something which dictator Benito Mussolint dream-

bd of but never Bat- beeded with roaking the country self-sufficient for its brend.

An all-time record harvest

of more than 9,000,000 tons of wheat this year

WIA

expected to cover domestle bread-making needs fully for the first Uime since the Caesare, relying on the crops of the overseas provinces of the Roma Empire, ent down grain production in Italy. Agriculture Ministry offi- ciali Bald ooly the amount of wheat neces- Barty for spaghetti- making

will still have to

Imported bt

Rexi year.

Tho officials paid govern-

34.5;

ment

measure for the BETI-

mechankation culture were chictly responsible for the his- torts

feat. They ad- mitted

that the year's weather had been ex- fa voutable coptionally and could not be expect- ed to inst, but said they hoped production in the next few years will fall only

slightly below the 1955 peak. Officials

sabi this year's crop was expected to he definitely higher than the previous all-time record of 9.051,700 metric tons in 1053.- United Press,

}

London, Dec. 7. The Financial Times said yesterday that the balance between supply and demand in world rubber trading came near to being upset this year largely because of increased demands by Russin and America.

released

The newspaper, quoting figures buying on the market is the by the Internacional posalbility that it might absorb Rubber Study Group, said: "A any slack left when American signincant aspect of the sharp synthetic output is expanded," rise in work! consumption of the Financial Times concluded. natural rubber in October com- |-China Mail Special. pared with the previous month

the heavy offlake by Soy.ol Russia.

"Indeed, Nussia's additionni 7,000 tons in October accounted for About

the balf Increase."

Absorb More

total

CHICAGO GRAIN MARKET

Chiengo, Dec. 7. Secretary of Agriculture Ezra *T. Benson's latement gave

futures strong boost to wierat on the Board of Trade today,

a

The action brought buying in rye, but other grains faded frac- tionally.

The Financial Times added That America continued to ubsorb more natural rubber den. pite a further rise in synthetic production in the United States, when brought this year's total to 082,500 tons so far

tolni with ronymered

Traders said 540 500 10 In the same peri. 3 lag in soybenna (of 1954. In October, there was On increase of 1,000 tons in the already large US Sgure.

Bure

"While

world

of

consumption

reasons for the Wete proit- taking and selling inflitenced by lower meal prices.

Export included

business today

also The sale ot two- million bushels of barley te

Wheat closed up 2 to 3 cents; soybeans (new)

changed to up 3 cents.

had risen, moreover, production | Japan

was unaltered und in October the future for this year as whole is for a bare balance be tween supply and demand," the newspaper sald

**in Americo, the synthetle rubber factories are already pro- Cuca more than their rated capacity and it seems unlikely that substantially more synthetic rubber will be evable un De next few months.

110-

CLOSING PRICES

Prices per bushel in Wheat No. 2, red Sput

cents:

Dec. 203 diri' 207})^{

2001-

Mar.

20015

May

20435-

July

1931-200

Sept

1001

"At the

same time the US tyre Industry anticipates that de- mand for rubber in the first quarter of 1936 will be higher than in

Curn, No. 2. Fellow Spat Dre

130

12024

Mar.

130

May

13814-4

any previous three-

July

Sept.

1344

month period,

Bye

"In these circumstances it ap- peara inevitable

Dec.

11015-2

that, despite

Mar.

11052

which demand has natural rubber, will remain

the present high price level to

Osta

Dec.

6316-34

pushed

Mor.

05-4

US industry

Soybeans, No. 2, yellow

heavy purchasers

Bpot

of 1."

Jan.

(From Our Correspondent) appeared certain that if Ruzala

The Financial Times sald #

Mar.

Mny

July

"remains a purchaser on the

Etpt.

Barter.

Apot

New York flour

200 pack

HONGKONG STOCK EXCHANGE

Business done on the Hong-scale of the last few months a konk Stock

this light situation could develop,

Worth Recalling

130-14in

$13.00m

WINNIPEG PRICES

SHARES BUYERS SELLERS SALES market now is hinged primarily Prices of grain Futures cløsod

Exchange

24.00

21.05

morning amounted to $330,000.

23.10

22.31

Noun quotations mud the inorn- Ing's transactions;

23.04-00

24.50

23.00

BANKS

on

TIK Blank

INSULLANCES

Union

1670

DIO 920

M

Jan./Feb.web. 30.k

KARACHI

Lombard

The raw cotton market was casler today and declined speculators selling on expecta- tjons

bearish of

American poCKS, ETC. Barcau report and fears of prices cut in selling policy of American cotton, During the foreign coun-

71

The strength of the rubber

on American imports and on today Russian purchases which, follows: # 1650 small in the context of free

3540

K. Whart Duck

23 DO

Provident (0) 141⁄21⁄2 14,60

Whrelock

4.15 20 40UN ... 11.16

world production, con be

crucial market стиския

200 nominal figure of 420 tons, in 20.50, 1952 and 1953 respectively she took 123,000 tons and 41,800

in Canadian

centa AS

Onta

Dee.

factor in the

7526

May

*$2

absorption of marginal supplies,

"It is worth

recalling that, Rve against this year's purchase so tar of 10,425 tons and last year's

July

€314

Dec.

10034

Any

1042-

July

104

Barley

Dre.

100%

Miny

037%

tons.

July

Do

Flaxseed

HK Hotel HK Land

00

4. Punjab 10ller gin

75 200-FNT" Sind roller giri 86/2

209-FNT Punjab roller gin .. 50/2 13/2 -United Pres.

B1/10

Realty

RUBBER

A. Rubber UTILITIES

..17.20 17.40 300 17.30

18591 (RN) 33

1.00 1000 1,8735

"Of course there are no pre- rent reasons to suppose that tho USSR will return to anything ilke her

scale of former purchasing,

Dec.

May

July

325

Wheat No. 3, northern, 103

1.03

Tram

49

Yaumatt Ferry

wis registered 37,000 balcz, out

which 10,000 bales were sold LAND, ETC. to Jipán x 7,700 bales 10 Hongkong.

Prices closed in rupees per

Gains in the specialties ranged to around a point. In the main list, however, prices moved within a narrow range with a number of issues holding at their previous maund as follows:

The Japane90 Government's policy of allocating raw cotton according to spindles also en- couraged the tendency.

The

present capacity is estimated at

about 8,000,000 close.

Market rewa 1200re now described as superduous

the Japan quiet by

However, Cotton Spinners' Association. quarters sald the market is Since May 1955, the cotton making a good showing despite spinning mills have been cur- talling opern lot, first by

of which abou

was generally Cuban Amer, Sugar

Crue Wright Wall Street

two adverse news developments 12-failure of Santa Fe director

per cent and later by 10 por to split the stock in time with

because cent,

the domestic expectations, and the fraure of

11 Japanese market has become the list to register new highs 3.10 stagnant under the deflationary yesterday. 3.10 policies of the Japanese Gov

Bpot Leonti per 10. feb Cuba) 343 crnment while exports have

Open Interest: 1,020 contracts.

Contract No. 6

March

MAY

King

September

Spt teenis per ib. cif NY

ex-duty)

UPLA

interest:

United Proxi,

5538

been

The market opered irregular meeting! with growing

ly higher, but ran into some mild dmculties such ag discrimina presare thorty after the open tory tariffs Or charges ofing belt, dumping.

On the favourble news side A total of 14 countries have of the picture, Chance Vought 5.30 declined to accord Japah full

met considerable demand contracts benefits

under the General

news that it has received a $100 Agreement on Tariffs und Trade, mainly because of their million defence order. The stock Other fears of possible unfair trade pursed 3 points to $39.

Aircraft manufacturing Insubs In Japaneso practices

did ifttia exports.

LONDON METAL

PRICES

texilic

Diamond Alkall

Dupont de Nemours

Eastman Kodak

General Electric

General Foods

General Motora

Gillette Safety Razor Glidden Co...

Goodyear Tyro

Heyner Chemical Ingersoll-Rand

Int' Buainavo Machines

International Nickel

Int'l Harvester

international Paper

in Tel & Tel

John-Manville Co Kansas C. Power & Light Kennecott Copper Lockheed Aircraft

Loows Incorp...

on Lone Star Cement Co. Kinnesota Mining Misión Development Montgomery Ward National Cash Reg. "A" National Dutillers National Lead New York Centrul Oun Mathiesona Otis Elevators Pacino Car & sc, Pacifle Wettern Gil

London, Dec. 7.

A campaign has been started Elsewhere, steel shares his The tin market was firm by American texille business gains ranged to a point Rail today. Lead was idle white men calling for application of rods were mostly lower that. copper and zine were steady. quota system to imports into to a loss of more than 2 points

cotton goods, which have been caster. Ufillos did little, the United States of Japanese in Santa Fe, Moors sollers Increasing rapidly latter part of 1954.

Prices closed today in sterling per long ton as follows:

Tin apot

3-month

Copper root

buyers

33

3-month

Lind

halt

Doc, ili 11314

Land

Mat. 110%

804

302

11031

Zine

int half

int

Vanilkited: Prost

since

the

Restriction Opposed

NEW YORK METAL other textile exporte: to

FUTURES

New York; DWONL Prices of metal nitures closed foday in conte per ib. ne fellow

Load, December

náby

Closing Prices

Alden Ino. Ami, Aflied Chemička Allis Chimers

Andriesn

The Japalice Government American Afribe and truainosamen are discuss American ing measures to control allpe Amenok

henta

of cotton and ..... scene American Fab.s

Anseende: the Artnoo: teet North American, and Buropean Armour markets: at agreed i

Shipments to the United States may be controlíc

Pplying-ezy

porcent

Baldwin- Baltimore

Fan American Airways....

Paramount Pictures

Parke DAVIN CO.

weru Penn. Bat Co.

Philipa. Patroleumn Pittsburgh. Piste Glas

Radio Corporation

tepublic Steel Roncada. Metal

2314 | SHEU (Dil_Do. 113Sinclair. Oil

Foceny Vacuum

Boukhara Raliway" (Cón) ; *by Standard Branen

Standard Of Of Cal. standard"Dij. DE 100. Standard Oi/OF_N.J Sterling Drug Co. Stokoly-V_Carno,

Awift &

Union; Psql:

West Germany Building New Fleet

Hamburg, Dec. 7. 'Germany's high sen flect has Increased to more than three million tone and almost reached 75 per cent of its prewar size, the West German Ministry of Transport reported on Tuesday. Starting from almost zero in

this 58% 1945,

under itauntry has now 3,482 ships of altogether 3,022,848 tons, at the 177 end of last year, the German 20% high on fleet counted 3,328

ships of 2,560,262 tons,

50

40

45% The Ministry records showed 4oday 2,052 freighters total-

11

that

102 103

21.00 100 e 21.80

500 + 3019

C. Light (0)

XD

G. Light (N) 15.90 1020

Fleetrte

... 397 39

1% 32**

Telephone

INDUSTRIALS

Coin.nt

STONES, WTC.

Dairy

Walaz

COTTONS

241304

1714 יין 003

34 342

200

1000

...10.20

13.30 1936.

8.10

Textile Corp. 605 6.05 Nanyang MISCELLANEOUS

Allied XD

6.40

Singapore

Stock Market

ניי

Broker

Singapore, Dec. 8. today quoted the 40% ling 2,440,320 tons, 62 tankers of following stock prices: 4536 323,929 Locha, 80 emali passenger

41% ships and high sog forrige of Batu Lintang: Rubber 537 000 tons, 30 high sea barges of

Ord:

Opening

$1.70.

Co. Lt British Borneo Petroleum 11,593 4ons, 005 amking vessels of

Havillonte 108,820 tonu,, jad 320 other high Conesiated Tin Smeitene 11016 schaaft of 42,574 tons make up and weave Ltd. Ord. 11.11

the rest of the German high sen Fiber Neaves: 734 noot,moder

cuum pret In 1939, Gectany owned 4,3 Hongkong Talion tons of high sea shipping How TU, LAG,

tlled Press.

Rates

40,00

bat oven outside cents; No. 5, 120 cents.-United

any short term effect of Russian Press.

Xmas Cards

OF

HONG KONG SCENERY

SOUTH CHINA MORNING,