1955-12-12 — Page 9

Soviet-Swedish Trade Agreement

Moscow, Dec. 11.

A Swedish tradė dėlega- Hon has signed ment

Bay Agree.

calling for "con-

A siderable Metrase tax Soviet-Bikeđini tindo" next year, it was disclosed Lo. day.

The value of goods not disclosed.

WEH

Art official

Announcement said Sweden among

had

deliver. to other things. Industriai equipment, Alispa high trade steel and cellulose.

return the Soviets will ship to Sweden manganese, chromium anhenton United Prom.

and

cotton.

coal.

Import Cuts Speed Vehicle

Manufacturing

Sydney, Dec. 11.

THE CHINA MAIL, MONDAY, DECEMBER 12, 1955.

TRADE and COMMERCE SECTION

AMERICAN ECONOMY

No Slackening In Demand

For Goods And Services

By JÖHN

MORKA

New York, Dec. 11.

The United States was bullish, if nothing else last week.

French Metal Industry

Asks For

Talk of prosperity and of good times to come is almost Price Increase

commonplace these days as the nation's most prosperous year nears its close.

are

now

Paris, Dec. 10. Fretch metal processing Secretary of Commerce Mr Consumer expenditures which fund capital expansion plans con- and engineering industries

in thucs to give strength to the Shueinir Weeks generally eettoed play a moel important role

have asket the French The sentiment of Industrial underwriting the current boom market; dividends in particular fenders at the annual meeting of continue at high levels. In there what investors live by, and Government for - petinission they National Association of third quarter, personal consump-the prospects are good in this to reflect the recent increase

Indications 80.4 category. Manufacturers last week

that when tion outlays accounted for

in domestic steel prices in the total

1055 dividend will be predicted that 1955 would set per rent of

HTUSS records. By billion

*767 | their selling prices. November new records, that first-half 1956 national product of 392 would move to a higher plane on a seasonally adjusted annuni dividend rate increases had been

Under reported

preserit against 100 emissions

regulations, and that for the balance of next rate basis.

are pegged to the Inisiness Year

income Meanwhile personal

or decreases. Last year, 481 in their prices creases and 200 cosulties were level of February 1954, whereas moved to new highs In October.

steel prices depending on the The October rate was 308.8 recorded--United Press.

common European market are billkan, topping the September

being determined without regard rate by 1.7 billion. The October

to dexnestle ulations. These Fale was 31.2 billion above the

good

would remain

Other businessmen stresses the continued high demand for gonis, although not a fow

took note of the strong competiyearly rate in October 1934. Recent import restriction which was still preventing tions will result in ac-them from raising prices in some coleration of the already

Business Spending

the

Others were counting on High June to help meet rapid development pro- expected rise in labour costs. gramme of the Australian motor vehicle and QB- sembling industries, states the Australian Review.

Financial

With importe of fully assem- biet vehicles retired by 25 per cent, und of completely knocked down vehicles and parts by 12% per cent, motor companies Are accelerating their plans to Herenst the Australian com-

ponent content of their vehicles, At present relatively few 15 sembled

being im ported

enrs

J

bulk

1 HOW

motor vehicle registrations is suppiled wither by Australian. MAN- assembly in facturing

the Australly of imported and local components

cir

Long Term

The Review

increase

component

LU

semblers

Australia.

Referring

large

or

الله

stressed

continued

new

Threat Noted

A good part of personal spend- Ing has been on the instalment I plan and recent restrictions by de- government agencies were signed to tighten credit and in effect but dosen any runaway inflation.

he

per

Protection For Indian Industry

get exetted | foli used in tea chests,

tinue to be subject to a duly of per cent ad valorem plus five per cent of the duty.

inco hit squeeze totes in 1950 than it has been

♫

The Government is examining the Commission'a recommenda- tion that a duty should be im posed on

встар.

Lo

JAP CAMERA

SHOW

Now York, poe, 11.

More than 19,000 persons visited the camera show al the

· Japan · Trade Contis during the first week of ita two-webk: rail. It was als nounced today.

The show is sponsored by the Japaness Informa- tion and Servico Centro which Features on exhibi- tion of

khald Jagierese osmeras and optical goods and a collection of ticarly 300 prize-winning photo- graphs taken by members of camera clubs in Japan.

It wi

arinotinted

that the Company

Canon Camers of Japan will early next year open a few factory branches with showroom bfiices and ser- vics facilities at 550 Fifth Avenue In New York United Pres.

HONGKONG STOCK EXCHANGE

latter were

stepped up at the beginning of the week beenuse of the suppression of the 3.20 per cent rebate granted domestic corisuthers as a result ?l tax relict, which was con- sidered discriminatory

the kong by High Authorlly.

in values of mini-

factured goods, It was feared

A risc

Ly the French Government, would compromise the French policy

of stabilised prices which, it was claimed, had been grently responsible for the favourable development France's economy two years.

in the last

Already Approved

The

Page

LONDON STOCK MARKET

Hongkong Banks Make Up

Their Loššės

By C.T. Hallinan

New York, Dec. 11.

Stock markets were strong all the week, and completely unreal.

more

Industrial shares, already quite expen- sive, became each day slightly expensive than the day before, in complete disregard of the fact that the year 1956 is rapidly approaching when Mr Butler's taxation and monetary measures will presumably, begin to take effect; their effect should be to deflate domestic demand. There could be trouble.

But the Financial Times index on the last day of the year, of lending industriola gained 0.2la peak for 1984.

There is still time for some- points to 199, only 12 per cent below the year's peak reached | thing rather like that hap- in July at 223.

pening again.-United Presa. This

(From Our Correspondent) conviction

Stock

this

the

suggests a widespread artionz well-to-do

Business done on the Hong-people that even if Me Butier's mensures eventually check the current boom, they will operato 50 sluggishly as to give time to garner handsome tax free pró- fits in the stock market.

morning Noon

Exchange amounted to $500,000.

and quotations morning's transactions:

RHARES DUYERS BELLERS BALES

BANKS

HK Bank. 1000 1200 INSURANCES

of

Lamberd

SHIPPING

Waterboat

DOCKS, ETC.

Dock

Price Committee, uni advisory body of the Ministry of Economic Affairs, has diready approved the demand, by manu- facturers, but the Government must make the final decision. Usually well-informed quarters expect that such a decision will not be taken in the immediate future.

K. Whart

010

920

40 or 913

43

ཟླ

21

12

29.70 20:30 1500 op 3329

2000 # 30

1500 22.40

300 30 1000 * 29.09 Provident (0) 1431⁄2 14.70 1000 19% Wheelock 6.03 8.20

Strong Demande

So the week saw strong de- mands, lifting Rolls-Royce 78 dd. Consolidateds and Hudson's Bay 5 or more, Associated Electric

33 Indusities

Dd, Unilever and British American Tobacco 25.

Though

oil

shares

US Prepares For Tariff

Cutting

Washington, Dec. 11.

The United States today added 34 more important

closed items to the list being pre- for tariff cutting

the weeks below the best prices pared touched, they still showed good

guins, like Rogal Dutch, made negotiation with 25

tions a shilling better,

Foreign bonds were similarly month. mixed.

Among the Germans the Berlin B. Pet Cent sobred

na-

in Geneva nöxt

These items were valued at

LAND. ETC.

more than 28 million 10 sterling to 88 sterling and the slightly HII Hotel 17.20 17.40 500 17.20 Young Loth rose 2 sterling but dollars in United States trade

60 2005 the Potash Bonds fell another 2 jast year. (Ris) 21s 773 # 32.76

KK Land

HUBBEN

A. Rubber

yul others

ths favourable implications of a high Inte t capital Investment,

New Delhi, Dec. 10. Seratary Werits took note of which Mr Wocks said would be

The the first quarter of this threat to the economy in

aluminium Indian industry is to be protected uning i

cent his talk to the NAM when rate of 12

рет 1956 at a

sail business management has a for another three years, in above the current year.

Government agencies said that very delinite reponsibility with

for spending bunite

and accordance with the Turiff respect to the extension facturies and equipment through character of the consumer debt." Contmission's recommenda. March would--if

He said however, that the rise ❘tions. A full

Total about $31,500,-us Instalment debt from 3 ywww 000.000

Imported aluminium in crude the ex-cent of the gross national pro- compared to pected gure or $28,800,000,000 duct in 1929 7 per cent today or manufactured for, to icon

nothing to for this year and higher than the was previous spending figure of $28.- about.

J According to come observers, 30 000,000,000 reached in 1953.

Te, there were reports

pending will likely CONSUME: employment, be much less of a silmuisting continuingly

with prospects of n on steel

over the past twelve months. price rise, a pickup in auto pro- Just what effect tighter credit

Imported aluminium says that long duction along with accompany- terms will have on auto sales is

The Goverment is trying to ing fears that sales may also be still largely a matter of con- plans Ielude

find a formula to avoid In Trust dipping. On the plus side, there jecture. Some observers already

The Indian automobile spark-creases in the price of agriculTTIES the binckening In were prospects of big corporate note dividends this year and next. year-long pace of auto sales. ing plugs industry is also to be tural equipment and household Oliciais estimate that In protected for another five years, articles, Business Week Magazine,

said The

existing duties of 38 per the projected rises would mean an additional charge of 1,400 "there are small,

nation-wide suuleting' cent on British plugs for use in

trucks

francs

Household and 12 per

cent on million signs that

Indiente may

imported from market for next year," plugs

other goods. smaller The daily selling ente for the sources are to remain up to the

it end of 1940. first halations now are that it all year long it has run

noted, barely topped

Insulaters to be used in turn out a record

mahutaciuro of spotking plugs gal tons this year--is stun dealers, the Magazine added are

siderably above that figure. Many are to be exempted from duty Motor Corpora- able to keep up with demand.

49 recontended The steel scrap market is run-disappointed with reception of for one year, peller of cars in Australia, wil ning wild, with prices in some the 1956 models, although sales by the Commission.

considered good considerably Increase

areas hitting the $50 a tan mark. HOW The Australian content of its Only a

not standards, but dealers feel short while ag scrap Austin and Morris vehicles.

A few they should be better. sold for about $32, The Statidord Motor Com-

The tight supply situation weeks ago, dealer stocks of new

curs were estimated at 70 pany is continuing its two-yeat

will probably mean a boos Au- to raise the

than a year cent more Semina content. The

Ford steel prices, according to

vious. Motor Company does not intend dustry circles.

Esthrates are that 1056 will see an output of 8,000,000 cars. No Change Of Plan

Australian the 121

and cost content of the products of one of the targest English cars in

ther various that the manufacturers it vifect caf the import cuts on General

Mangolden's

will

be

Ltd

1ખ Vauxhalf ami

Bedford models, and perhaps on the length of the waiting list for

Australian Holden. The British thon, next to MH the largest

shortly

programine?

and

of mo: ket expectations stability and, according to many, its experts, a rise.

Steel Tight

Some

The boxing steel indusky- rst 20 days of Nor

116,000,000

En

ja-

lo extend or to reduce its nunge The steel boost will probably of care is a result of the im- be more widespread than here- port cuts. The Australian con- lofore, it is said. Meanwhile mill lent

13 being progressively producton is sold out for the raised.

Arst six months of 1956.

WEEKLY COTTON

MARKET REVIEW

By William T. Plunkett

New York, Dec. 11.

Cotton futures climaxed the week with

a sharp closing reaction after backing and filling over a range of 950 points a bale.

According to the Journal Commerce, the "showdown

cars; tun-

bv

per pc-

of

on

59

sterling. 1.30 2000 1.078culative chaos.

4.00

Tram 22.20 2216 800 Star Ferry.. 130 Yinati Ferry 100 102 325 101

a Japanese. Wore

A State Departiment announet- The Non- Tokyo Five Per Cents ment said the supplementary bose 2 sterling and the assented list was drawn up at the re- In a sector where quest of some private business sterling

Interests in the United States. 22.30 prices were headed downward

It also would strengthen the ranging by amounts

from United States bargaining post- C. Light 2140 21.0 900 2140 sterling to 2% sterling.

offered tion

it concessions were Chinese 600 @ 21.30

and the C. Light (N)

during the Geneva talks, Hongkong and shares of the Elecirle

Public hearings on the new Bank improved 1% Shanghai

Cicoh Bands rbst 2 Tariff Commission and the Com- will be held here by the sterling. sterling to 88 sterling, approach-mittee for Reciprocity Informa ing their peak or 81. sterling tion on January 17, a day before the 28-nation talks open in the

capital.

Telephone

INDUSTRIALS

Cement Ropo

16.20 3915 39.70 300 30.78 53215 1100 or 32

500 or 3211

33% 34%

11

Industrict quarters argue, however, that the keen com- thepetition among domestic manu- acturers and foreign producers exporting to the French market STORES, ETC.

to ກ would,

certain extent, Dairy A.20 16 500 strain

340 A rise in prices by

1000 French manufacturers-China Mall Special.

Coated abrasives are not to be subjected to protective duties, and imports of emery, synthetic grains and kraft paper for the manufacture of cooted ubrasives are to remain duty-free for the time being.

The protective duties Ori batteries for motor vehicles and steel boling hooks are to bo dis- continued China Mali Special.

the 1956 cars will come in the

Ever a 10 per cent The Bank Of England

spring."

decine in nato sales next year, the Journal of Commerce noted, would not be a serious donger to the boom."

It added further in this vein: sales pattern would not

Such

undermine consumer confidence

Statement

Latidon, Dec. 11.

New York Industrials

Higher

Industrial stocks moved higher

New York, Dec; 11.

in the past week while rails and utilities ensed,

At their highs the industrials were at their best levels

in'

The Bank of England statehistory. They finished the week nother floids, Nor would it, byent for the week ended Dec. slightly under those tops,

7. heads as follows:

itself, indice Hubstantial changes

in manufacturers', plan to spend Note in efreuiation mare for further expansion. A Public depoelt

cent i auto Pelvete deposits. drop of 10 to 15 outpri would

take Government securities

me

Ølher securities

of the heat out of the Recepta metale boom. But it would! hard- | Ruito

metals back into a ly phish

It would take

At Friday's close the list ruled 5 points

buyers that

"With

higher to 59 points lower, or up 10 cents to down more to $2.95 a bale from the preceding week.

Incomes head-

.

Watson

COTTONS

13.30 131

Textile Corp 0.30 595 Nandang

MISCELLANEOUS Yangime ***

7.80

040

wore

list

Odd Flavour But the activity of the market ef items on the new list 18.40

For one are wool, socks, molasses from. 18.40 had an odd flavour. 18.40 thing, there was little sign nt Cuba and the Dominican Re- American end-year selling. This public, and business machines is something

which the "valued

$2,250,000 market is'

attuned for many Sweden and West Germany and until last year when iti Frogs legs from Japan failed to show up and the In-Cuba also were, on the list.- dustrial index actually reached, IChiną Mall Special.

Singapore Stock Market

Singapore. Dec. 12. Brokers today quoted the following stock prices:---

Opening

Co

Batu Kintang- stubber $1.70

British Edrado Petroleum

Byndicate Consolidated Tin Betektors

Ord.......... Fraser & Nervo Ltd. Ord.. Fraser & Neave 73% Cui, Hongkong & Shanghai Bank-

ing Corporat Hongkong Tin Ltd. Kempas Ltd.

Industrials það, a wide gain on Sterling Monday, small losses on Tues-pret 1,028.300,71

1163,940 day, and Wednesday and another 318,284,889 Tise di Titsday, with the 287,914,004 average, finally broke through 20,145, this top and showed good 24.330.371

172 strungth. y. United Press.

43/00

30/

to

PENINSULAR

at

from

& ORIENTAL

STEAM NAVIGATION, COMPANY

R.M.S. "CANTON"

NOTICE TO PASSENGERS

$1.70

$0.00

*300 6/30

Luna" Bubber, kætates Ltd. $400 Aslagen. Browaries

$5,40 New Serandal Rubber

Ltd.

$2.75

$1:00

SAILS:

BAGGAGE:

Despite the dip on Friday the Pellak rin Ltd.. Industriais closed the week with Radies Hotel ... | 4 gain of a few. points at 487.64. | Blágpore Cold Storage

Rails were down less than a qty, neitikis - Inmarance

the cold The Bank Of France point and utilities down a few

Statement

"Paris, DAN: 416

rents,

Market men said the list be Havid very well in the clr... eliistimens, there were many

ing for hew war heating lip boet again, no Nearby December, held in-, acreage allotments tor, 1956, and

the economic dramic

In the changes dependently firm throughout, the possibility that the governollmate appear initiierit,” reflecting light lenders ind ment might announce the in- As the economic Indicators

the position terlin evening-up bifce

loan rate for the next continue to reflect bitdiners eon- expires. In the noon hour ca crop.

Buchte the stock market showed The Bank of France statement wild gaifiers and tow losers- Tuesday.

behind. to: Uncertainty

opus for ins' week entled Dee, United Press. "WRIN ge-vernment wifi will how the disposition to tak New crop deliveries were on

down WILL

ting

the the defensive most of the time, the huge cotton surplus was pace, thứ market; moved firmly alhough a smart, but short-another restraining factor. Fre higher, with the Dow Jones in- Total dots, hotdih ·201,201.

leed ratty was staged Thursday vously, the Agriculture Eterütdustrial average moving to an Total ether currencies indiented the gayeri histeris High of Thursday at Sight butebes· abroodi

EPU

+mtise:

resda në follows:

when the government's Decem-uny his indien und 1,000,000 487.80, record high by 0.35 per Apo to stabilien ber crop estimate showed an ment unexpettéd reduction.

bafes of short stopla. cotton cent. overnéás” at competitive, prices after the now year,

·Expected · · Increase "The Dec. 1 Indication, for 141068,000 balts come 180,000 Might Be Tight holes under the previoua obicial The next stock of 1950 cotton raport, whereas traders hid éxe held Uy the government tömälled pected an increase of upwards 3,840,000 bales, of of 300,000 bales,

As turrent rule of entries, regarded solve statisticians thought my traders

Almost 411' sectioris Joined in Total Bill Blincelá the rite, notably aircrafts: oil Bab hote in die chemicals, matóru and rails:

Favourð.

Op

October

of the

the decrons

Afterward,

plus anem glent-sized duty

gunning

the

ingred meatie opneimption betten, than Arpinor cause for Redliancy rine mullan balo kont

Brbooks as irvist view pointuie ultimately might run from Avand poveri millión Prosi blog that the and Bal

Titus ning nglires may still How Should the lodi reach six the

crop nearer to the 15,000,000 million balor, and with enden avande, bald ·mark.

why dealty to await for kiba

Cuervill accouhia and

dajibalta

Singapore Rubber

Market

Singapore, De, 11. The market," was - dull - with bag | little-frielination to trado:tion Saturday, The undertone, was good with no selllig pressure.

bd:

closed officially

UGÖTTON E

FOR RUSSIA

Futures re

No. 1 rubber per 1

straits Trading

Kiraila Bleammip United Engineers Ord. warne Brow

U.S. COTTON EXPORTS

New York, Dec. 11. cotton exports By

Ex

Friday, 16th December, at 12.00 noon for the UNITED KINGDOM VIS Straits, Colombo, Bombay, Aden Port Said.

Passengers are requested to send ALL. BAGGAGE, to the Höngkong & Kow, loom - Wharf. Co,'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE, by Noon on Thursday, 16th December.

SPECIAL NOTE: With the exception of hand packages cätried by passengers themselves, ALL BAGGAGE, must pass, through the Wharf Co,ʻa Godown for. loadingg on board by ship's slings only. Passengers should embark between 0.30 and 11:00 a.mh, on Fridly, 16th December 1955,

destination as feported in balts EMBARKATION: by the, New York Cotton charge for the 1955-56 stason to Dec, 6- Were, as, follows::

·Britain'

Continent .Orient

Total for Satria pertol

-170,017

283.817

MESSAGERIES MARITIMES

United Prese,

nge Rates

#GAM

PONBURY

FAST

"vote bezt, week,DİY