1956-01-16 — Page 9

1

THE CHINA MAIL, MONDAY, JANUARY 16, 1956,

Page

1

TRADE

and

COMMERCE SECTION

Optimism In US Economy

Action Wanted Despite Setbacks Economic

Against Jap Goods

New York, Jan. 15. The Association of Col-

ton Textile Merchants

New for

York

of

called today

"swift and positive action" by the government against Japanese textile and garment imports.

1

do 1

''.

11

suth u

"By

The Keystone

the form of ewrt pulseau

and other product

Put of 148 600

Came

From Lapa

represented forecas

vesamă în dugnate

K

op deal

"Currin dala

inahustav smeta a

in recent metalles

1 Ans7:0

added.

17

11

GOVERNMENT SPENDING AND Co-Operation

NEW CONSTRUCTION

SHOULD

OFFSET DECLINES

By JOHN

MORKA

New York, Jan. 15.

In Asia

Economic

Tokyo, Jan. 15.

co-operation with Asian countries will be the major topic of the three days' conference of Monday opening Japanese diplomats assign- ed to the Asian area.

оп

Fifteen ambassadors, ministers,

have returped to Tokyo for the

consuls-general and counsellors conference, which will be held

There was still lots of bounce to the U.S. economy despite setbacks last week. There were the expected layoffs in the auto industry. And securities prices moved lower in five out of the first seven days, pushing prices back to November the Foreign Office, from India, levels in some cases.

Ceylon, Burma, Thailand, Aus- Treli

Vietnam, Indonesia, Pakistan, Nationalist China and the Philippinca.

While these developments were disquieting to some December degree, there was also some reassuring news. employment was 2,500,000 higher than ever before for the Philippine and Indonesia will be

month.

1 WG DAY

muan das Pequea ding by

INW

where that when he agreed 10 substanca

and prevedling trade opinien beld construction shot auto produclium w 1104 lut stock

A more than a devils lo | the nvar-B-mtition bou! the anate and housleg industries | 1955 Bome

6.00K) Install executive look Jasmunbird at the National Retati | drop

Dy Geals Asste man

גויקוי

inven.

were generaly

2 businIONS. world bold

will take

Many people are said to have

Their money out

of the ket waiting for of chane . buy Pl stock

14

Settiumcut of the outstancong problems with the reparations

{་

Iully discussed because It closely linked with the govern ment's desire to develop close economic

with the o entire

observers stiid

relations

эгед Aslan

Red Influence

Some empatures are not pay-gendrally anticipated by traders major tople of discussion in

here and was largely discounted | view 美 advance on the markets.

for them at least during ing out big money to overtim

a half 1950, although new and they aren't straining to volley that

kebay materials at premium prices. Chris afforts to keep But, according to exeris, mute

may still able E pages linglong of The

inuch money But witball there

FHLE The out fewer cnis wilhoia much upt.mist

ng the

kle *73 They mata ta's leading relasters, bye to the

1

Leloupe

de bapt

for equiva-

than thes

1955, of

1

Have

jit

Joe New York

Isparta

A11H

alent 24

...

As made

ཋཱ""

The Accomon ay ma

cotton quota us The keypluzzot

of the thin

aut

Whart

TH

1

recent Questions whether Japan

Iraq-W.Germany Agreement

Bagdad, Jan, 15. Trng and West Germany agreed tadky to extend

their 1951 trade und scOUD-

mio agreement for another year, it is officially under- Klood.

West Germany sắn in- formed Iraq officially of its decistori to exempt all fu porte of Iraqi dates from COSTOTIN

other and any duties from December 18, 1055

Britain

the furwi country to exempt Iraqi datos from customs duties. --Reuter.

Was

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

kont

Business done on the Hong- this Stock Exchango morning amounted to $100,000. Noon quotations and the morn- ing's transactions:

SHARES NUVERA SELLERS SALES

BANKS

IK Denk

LAND, FTC

HK Hotel

K 1ut Humphreys 10) Realty

12

1703

Trade expla Kunerally

cent Elsewhere, in brief: for a 10 to 15 per

In the auto industry

in

1950

me

10

to

tu: bing Paying

And at

President Eisenhower'A farm Relations with the Communist expected to be a Congress

was China

Peking's of Commodity argiessive overture.

Include Its suggestions au to will how to deal with mounting crops should recognise two Chinas or

helped and surpluars

avast inpart

international to decide: cution. sʊybennaments strengt and flaxseed prices. He proposed Inpan exchange

"Soil Bank" to take certain presentatives

Kaki surplus crop land out of produc- obsevers sąd. tion, among other recorumunda-

INSURANCES

WAB

Waterboat

2340

DOCKN. ETC

Duck

Wheelock

323% ident (0) 18.10 15.50

B.20

1000 33

8000 8.20

with

develop that should

trade

Peking.

17:30 171 1000

17.40

65 1200 v 0215 19.20

100 ร

tions

A Rubbe Truel The influence of Russia's Premier

UTILITÄESS Nikola Bulgarin and

NUDER

1.00 1970 BONG S

2.70 2.83 450 #

Tram

24.30 650 Yaumas Fery 105 100 C. Leat (0) 221⁄2 22.70 1100

24.40

zzy

190

251

C. Light (N) Electric

1500 43 434 100 500

10.70

4234

321 33%

37 200 2015

maki part by formal full capacity last war

P M Mal-

M Naar that retail sales

the next SEX months

awn abou

* 1955 Joyet

4 per cent

Not Concerned

Mu 12:

Ametical coton, would have been

Sell at the

world

p

outside and willan the US

"No price support programine

of the

survive auch

mebackers Concerned

Bruising

Knuckles

10

The American Iron and Steel Communist party leader Nikito Institute

43 preliminary | Khrushev's visit to India and sajd tbul American Burma, on Asian countries as Star sa samil cutrock in estimate Turder placements by the auto steelmakers turned out 117,000.- whole will be another tople, it

De tons of stee) during was sald. Industry, but this cutback wan't566

Buy

up

The effeclive unt March. Man-1955-highest un record.

Foreign Minister Mamoru while, as the auto companies use WINC mwil

American Telephone & Tele- Shigemitsu was scheduled at the bullding about

Jess steel they are the

Co. reparted inproved opening of the conference at Inventories of the men). Experts Kruph 2.1 level

inventories.

hore point out if the big users earnings for the fourth quarter ten am on Monday to explain Corupatues are not lovsyl

rocked Smy have even didn't export to debtg business 1955 and for the whole year, the government's policy.

quarterly earn- worddn't be The company's eder-bougat in the wholesale this yea

stocking up It costs money to ings increased to $2.79 per share is The latest figures on

the last quarter, up from carry inventories but it pays off n could buveiteny are for November Hent

in the ke 1954 period. If the company gets riers and $2.04

For 1055, the company carted They stew that burmess men needs the steel

$10.77 against $10.41 in 1954. their Ale 51,200,000 100

ska du A The antit. This Fought toi. die alojies ut the of the month $82,600,000,- un mpner w. $78 200,000,

vad of November of

€90. BUTH AND

of quadatatut the

day hope existing cotton suuria

the s would be gone Reuter

at wiher

iery 1. Falvad

are

OVCITIQUES

will

Macao Elec 10) 9.30

(N) 0.20 Telephone

INDUSTRIALS

Commer

Rube

1.29

2.73

New York

Stocks

Decline In

First Week

By Elmer Walzer

New York, Jan. 15. Stocks declined in the first week of 1956 just as they did in the first week of 1955. The differences between this year and last were that the decline was much smaller and the trading much lighter.

Trading volume averaged a mere 2,408,100 shares daily for the four sessions. Last year in the same week the daily average volume was 4,589,123 shares, and that week-a five-day one- was the most active of 1955.

The Industrial everate for example la the past week closed at 405.88 of 2.72 points from the close of 1955. A year ago, the average closed the first week at 303.60 of 8.70 points.

The market a year ago was hampered by a rise in margins of top points to 60 per cent, This year the news was good but it didn't seem to be of big enough calibre to set off a sharp advance.

Best Performance

OIL FOR DECADES

TO COME

London, Jan. 16. Can the world's oil indus- tries

go on producing enough oil to meet the soar ing international demand? The best performance was made in the Friday session the

Prewar consumption stood as BOUTIC #5 A week

The 280 milion tons. In ago.

1935 it market finished 1855 on a spuri was 785 million tons-more than that carted industrials to an two and a hair times as much. | all-lime record high.

Industry is pre-

for

the Already paring This week's gist of news in-mark. duded the President's message on the State of the Union. Wall Street said it

the 1,000 million

fitted into ex- 186 "However, experts predict that.

pectations like a mortise joint and hence had no market in- What the street wants fluence. to know--and has no way of finding out is whether or not the President will run for re- election.

Business held during the

many Industries 43 week with

showing gains over the previous four-day week-the last weak af 1955.

115.00 10 2000 $

0.050

51 6.50

STORES, ETC. Monday afternoon wd

Dairy Tuesday will be devoted to tree

COTTONS furcussion of the various prob.

Textile Corp. 5.46 8.65 2008 47 5,60 lema, Expansion of the various cffres

de- MISCELLANEOUS be

Yangtze berated on Wednesday botcre

Allied Bon Age. the weekly metal-

The pinch In metals steel, adjournment.-United Press. pets out working magazine,

aluminium shows no copper, bruising that steel users

Last week gas of letting up. they their knuckles in vain

government Via its &, demand on the US rush le matile

Omee of Defence Mobilisation nages the uulo companies don't want Tirey find that Detroit is said only those users connected with ante energy and military Auto makers got uff to a slow letting ode of very little, says

be will

given no programanes There will be shurt this year midst probe- Iron Age.

priority to these metals, Somo If is that

the pduction rate signaleant casing of the kal over the

next few weeks will market before midyear, says the people feel the pinch even more

under the new regulation: the late than that a year ago. steel outhenties

Exchange Rates

Bukinek Mak DELTAR

unoffici

morning at

M

Bir 102 -on thďď

dollar per $1

and

Intex

year

Stocks Chase are at peak

Perls and

out- appens to be

Sterling Sten als kl.

10 t

Australian meter

1226 running des

Huonewa tupta's 1000

13 to

Mam teal kong 100;

20.50

A pesamate

M

a werk by Henry

Strafsk

shile was odder

Fund

Cotton Goods Sellers

Return To

Market

New York, Jan. 15.

Colton goods sellers last week said buyers returned gradually to the market as year-end holiday influences disappeared,

Selective buying developed on sateens, with dress trade cutters paying premiums for any delivery through March as they noted a tightening

Brokers also supply situation.

reported quickening interest in heavyweight industrial fabrics, including broken twills, drills, ducks wide sheetings, bag sheetings and osnaburgs.

Refusing Orders

were

a

(1)

stvel

So far, there has been indica- tion of a letop in the general production picture, overall Economists find things humming.

disappoint-ard But there is some ment with the stock market so far this year,

Aluminium Order

MALAYAN

RUBBER

EXPORTS

Singapore

Stock Market

enough capital for deve opment projects and enough scientists and Declinicians for

is Yes. the job, the answer is

Despite earlier gloomy pre- dictions, the world's proved oil reserves are estimated to be big enough to cover all foreseeable needs for decades to come.

The

cost, however, will be

astronomical-in keeping with the tonnage of oil produced

Development

Individual shares performed well, bearing out the predictions | development of the experts

that the 1958 market would be a highly avec- tive one,

Demand developed on Friday for the ous and mottain. The Jatter were helped by rising prices of lead and zine and high pricea

соррет. aluminium.

for

Aircrafts Weak

Top

Involved will be not only

work

on flelds, but also the enlargement of tanker Boots, refineries, pipelines and all the complex. machinery of the industry.

Expenditure on such capital

catin projects will run to an ated £2,000 million a year and tits annual spending is not and expected

to drop during the next quarter of a century.

Hitherto the Industry has found the great bulk of the money out of its own earnings, With taxation consistently in-

The

problem creasing.

will be financing its projects come more and more urgent,

Nevertheless, the oilmen can

no factor, foresee

other than world war, which could causo an oil famine.-London Express Service.

งาน

Coppers had gains for wock ranging to more than 4 points in Kennecott, Ols were up as much as 4 in Philipps Petroleum, Houston Oll soared an- Win the11 points when St

nounced the

company will be Iquidated and the proceeds Opening given stock-holders.

Singapore, Jan, 16. Brokers today quoted following stock prices:

Singapore, Jan. 15.

exports of rubber, concentrated latex.

Baru

British

Syndicate

Lintang

Borneo Petroleum

Rubber

Co.

3125

Banking Corp. Hongkong Tin Lid.

10/ TH Bmelters

30/- ord.

41.80 Starer & Nenva Lid. Ord. Praver & Neave 75 oun, pref. $3.65

Shanghai ionskong

Kompas Ltd.

1933

12.03

Meanwhile, Ford Motors Co. Malayan

Co. an including Reynolds Melaks nounced agreement on what is latex and revertex, during the described as one of the largest past year were the third highest Consolidated aluminium orders in the history on record, execeded only by the the the Industry

years during Prices last wek moved back of

The two in-two boom to November jevels la ono of dustrial glants sigured a contract Korea War, according to official the heaviest selloffs, nateda, under which Ford Mctors Co. siptetics revealed today. aircrafts and chemicals moved lower in vlow of this year's

uncertainties.

Advanced most prominently observers WCTO the by market following depressant: A poll by White House correspondents in-

dicating that President Elsen- bower might

TC-

Tho

not run for election: Slow auto sales; Congressional probe of profite of military aircraft makers.

Great Demand

Somo experts book ahead

to

the flood of favourable corporate

news in the next few weeks to

$3.50

will buy over 640 million pounda

Britain was the best customer

LAZNIES Rubber Estates Ltd, H415 of aluminium over the next ten for Malayan rubber

with pur- Malayan Breweries years-United Press.

New Serandah Rubber Co. chares

tons. totalling 230,840

Lidi. Next

came the United States Petaling Tin Ltd. which bought 182,890 tons, Raffles Hotel while France edged out West South British Insurance Co.

Singapore Cold Storage

Lid. Germany for third place with 88,608 toms with the West Straits Trading

Steamship Gormans taking 80,752 tons.

United Engineers Ord. Wenme Brow

Malayan Bauxite

For Canada

Singapore, Jan, 15. Bauxite from mines in

Japan maintained her place as the Aith best customer with 71.369 tona. Other purchases in the top 10 include Italy 68,209; | Australia 40,495, and

35,584 ton-United Press.

$1.03 $1.25

$2,33

$1.00

$27.50

$27,00

12 84

10.30

*2.12

-China Mail Special.

Canada The Bank Of England!

give Well Street some new kind Johore, South Malaya will US Potential

of vitamin pills that will re- go to Canada from June

store lla bullish appetite make it feel like new again.

and this year.

on a con-

Demand For Nickel

Statement

London, Jun, 15.

The Bank of England state. ment for the week ended Jay, 11, reads as follows-

Note in circulation Public deposits .... Private deposits corpor GOVER

mecurities Other securities Receipia

Fallo

The

Sterling 1,081,415 203 20,340,717

41.037,107 54,337,719 Unsed PreK

Bank Of France

Statement

Quite a few weavers planned ja volume sumeent to keep the

This is the result of an agree- to boost prices on ducks for looms going for between 10 to

Most of the investors will co

ment algned between the the main print a historie offering this Wednes delivery beyond March because 20 weeks on

and of the steady rise in raw cotton und broadcloth numbers,

day of 10,200,000 shares of Ford Ramunta Bauxite Limited

the Southeast Asia Bauxite and the higher wage scāja

stock. This will be a $700,000,- Dealers in cotton sale yarn000 offering, with some

a fully-owned sub- Limited,

Washington, Jan. 15. 1,000 scheduled to go into effect after

raid some

mills are southern

aidiary of Aluminium Limited The the first quarter.

Commerce Department today ortimated that United currently refusing orders for accurities dealers and 722 under- eccond-quarter Bellvery because writing hores helping to deal of Montreal.

Under the agreement the local States "potential demand" for of uncertain prices. With most with the Ford shares.

firm will mine concentrate and nickel in 1950 would be about spinners

There's been so much demand treat bauxite orez booked sold for the

300 million pounds in weight, Arst quarter, activity in the local for the stock that even the Ford tract basis on behalf of the Print cloth yarn fabrics, es yarn market has been limited. officials have been alarmed that Southeast Asia Bauxite Limited

American industry require. pecially the basic 80-square number,

the slowest Producers of mercerised yarns Pople, expect to reap such hand-which has, considerable mining ments for nickel would be at a minimum of, 235 million pounds io" the southeastern

with the balance needed to meet

Paris, Jan. 15. movers Tickling re-sales were are heavily sold through March. Some pros as were made by leases enough to

supply the current Brokers said that situation was the original: investors InFord's part of Johore.

defence demands, the Depart early operations.

The Bank of France statement i demand, with Kolleza giving highly significant since merceris-

ment wild in a review of nickel. The quantity to bo

for the week ended alight concessions from the mili ed types normally do not soll as Young Henry, Ford II, warned under this contract for the first lovel. But weavers, thought. far shoad es regular knitting | lsat mock not to expset miracles year is 40,000 toca

The review was prepared by reads as follows:- the current pause. In priota and weaving counts.

from his company. Ho said they spokesman dor Ramunia Baurite partments business and Total podca would be over by late Jan, and

ara merely in "wishful thinking" sald, this quantity would be in defence morvices administration p alber Carly Fob, when buyers should In rayon grey goods, dealers T

They think they can make crossed socording to require to bring a July 1936 similar role be coming in for substantial reported a light and spotty dean and fabulcus gains bo monts of the world market survey of nickel up to date.ths Chines abroad

incaid. Buyers have been slow to

Ford look. tako, hold in the New Your

The spokesan for Haminia "The demand for nickel in Advance to stabl Despite the recent full In because of the quietos in Ford of course, would like to Limited said that theme of the all industry groups dos 1956 is op UN MURNERS,

Total-bins-diisopunis print, however, mill sources re Anished goods, but some obs get its stock as widely distri brusitecore will be sent to exported to be substantially ankote in cuci ported a robust order backlog.servers are condent: that the bubed as possible, not slopke Japan, for, processing which will higher than the 1968, qozmstop- End-November orders on hand need for ty goods has grown boldogs AIWKYS make good cut down the shipping costs by Hon rute, the review, stated. Current Coclists and

Heater approximated 380,000,000 yards, mubstantially United Press potential customers.

half.- United Pr

‚ second quarter coverage,

w

mined

holde

Jury, 5,

Aircrafty wore

weak with

of

losses running to 5 7/8 points in US RAW COTTON North American Aviation and

6 points in Boeing. Rails were down as much as points in Southern Rallway.

Paper and Sulphur Issues were higher,United Press,

No London Stock

The

Report

London stock

report was not morning.

EXPORTS

New York, Jan. 18, Raw cotton exports by destina- tion as reported in balts by, the New York Cotton Exchange for the 1955-50 season to January 10 were us follows:-- Britain

Continent Orient

Canada

market Total for season"

received this same period last yesp

"excluding "Enberg

Let US handle

United Press,

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ements

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current

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