Page
TRADE
THE CHINA MAIL WEDNESDAY, FEBRUARY 8, 1956.
COMEVIERCE
US Labour Leaders Forecast
NEW YORK
STOCK MARKET
New York, Feb. 7
The following quotations were recorded on the New York
Stock Exchange today:
Dow-Jones closing
were as follows
30 Industri
10 unities
13
40 bonda
Cum future price flex
Cami spot peler index
Moxy' inder
averages
4G
100 27
13 M
200 AU
153 0
13 77
Closing Prices
American Tob
15
400 101
341,
30-Hour Week HONGKONG
AUTOMATIC PROCESSES
DISPENSE WITH MEN
By DAVID SHEARS
Washington, Feb. 7.
United States trade union leaders have foreshadowed a 30-hour working day week to maintain full employment in industry as more and more factories turn to “automation” and atomic power,
The demand for a 30-hour week has not yet become a But labour leaders and live issue in industrial bargaining. others are forecasting a "new industrial revolution" with the advent of electronically-controlled machinery and abundant cheap power from atomic reactors.
Adell Ine
Ary
$ 22*.
Allied Chemicala
10
Allis Chalmers
07
Alderican Airline
**
Americon Cyanide to
ሰ.
Am March & Pary
American Metal
American Smelting
American Tel & Tel
Anaconda Copper
Artco Steel
49
Argent
151
Baldwin-Lama-Itarn
The
Baltimore & Ohio
44
Bendix Aviation Corp
Bengurt Cons
17
Bethlehem Bieel
101
Being Airplane
737,
Burden The
Burroughs Add Machines
2301
Canadian Pacist
+21
Came
10
IT Finnetal Corp
432,
C
TEARCUT
132
Celanese Cosp
1
Cure Maulia Bid).
40%
Chrysler Matzij
74.
Colgate-Palmolive Co
Commercial Credit.
I
Commonwealth Elec
Consolidated Edo di I
Continental Oil of Del
102
Clown Teller bach
Cutian Ame! Sure
Diamond Alku
General Electric
General Foods
Петьего! Моби
سم أولاد
George Meany, head
of The rough iron casting is fed production industry. This might, counter-bilanced at of course, be newly-merged American in at one end and emneFRES Federation of Labour and the the other a completely-machined to a small extent by the need bulld the Congress of Industrial Organisu-
pre- for extra labour to block. nccurately
automation equipment itself. tions, has said that the 30-hour citioned in every detail. week wilt be necessary to pro- Toll-lule coloured lights OTL vite enough jutz in the ludus-
panels
in various instrument try of the future. This would
pilleute any trouble brewing and piso, he said, permit more lane warn the technicians when drills fur "recreation. education caries
wearing and cutting edges are Thus general pursuit
Dut. phiess"
of hap
Being Applied
If they are not
the machine time, shuts off automatically,
2 It will take fruman drudgery out of the work done. Workers who now operate lathes and drills may find themselves techni- becoming push-button cians at Instrument panels.
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this morning amounted to $980,000. Noon quotations and the morning's transactions:
SHARES DUYERS BELLENS baleb
BANKS
.. 1700 1770
zio
2000
GF 1700 1700
HIK Bank
Engl Asia INSURANCES
Union Lombard DOCKS. ETC.
Dock Provident (0)
Wheelock
1536 104%
800
107
400
1.00
2000
5000
3000 0.00
300 8.05 2000 ct 8.00
LAND, ETC. HK Hote
17.70 10.10
03 6345
500 € 17.00
(N)
HIS Land (0) Humphreys ( RUBBER
500 v 17.00
01 819 400 Ge 01,50
20
(N) 18.00 19.10
SECTION
|ROUND WORLD|
TRAVELLERS
Washington, Feb. 7.
By 1980, the number of 'round the world air fenweliers will increase to more than 10,000 year producing strtine reyengta of $4 million dollars,
This was the fornenst made today by Mr E. 0.
Cooke, Vioo - President - sales for Trans World Air. lines and veteran of 37 years' experience in the wir transport field, who ad- vocated approval of TWAS proposed route extension frein Bombay and Ceylon to Bangkok end Manila.
Favourable action by the Cival
Aeronautics Board would thus enable TWA to
with commoot
Northwest Airlines in the Philippines and provide a 'round-the- world service by the two American flag carriera,
Soybean Futures Supported
Pago
Dumping' Cheap Textiles On
World's Markets
(From Our Own Correspondent)
London, Feb. 7. Two textile experts
-one of whom has spent most of his life in Lancashire ~ have neatly lifted the lid off the Japanese textile industry in a 31- page report.
The two-man delegation, one of whom was Mr Jaha Green-- halgh, secretary of the Interna- tional Federation of Textile Workers, made an on-the-spot Investigation in Japan.
that the Their report shows delegation disagree with the Japanese employers that it la impossible for Japan to dump cheap textiles on the of the world.
onc
markets
WORLD RUBBER MARKETS
New York, Feb. 7. The No. 1 Rss rubber futures
tracis.
Even if the Agures of the contract today closed 25 points employers were accepted-(and lower to 6 polats higher with they maintained that they paid sales of 208 contracts.
The standard contract closed extra charges per worker)—the wages were skill much
20 points lower to 15 points below
16 сод- higher with sales of half of
the wages pald to European textile workers.
Commulaston house brokers
local professionals "Aa the productivity in some and
were of the modern milis is high mostly involved in the terminal and there is no reward for the market turnover. workers who Increase their In the spot market, factory reported almost productivity, Japan will remain business woh ...... 23.10 23.20 3000
Chicago, Feb. 7. Star Ferry
140 144
position non-existent. very favourable
Between dealers, Yaumati Ferry 104 100 100
Continued
de to compete with Western tex- ย export
modernte tonnage Wis 200 C. Light (0) 270 23:00
mand and firmness in fats tile manufacturers,"
the negotiated. Including Light (N) 18.30 18.40 1000 18.40 and oil prices supported delegation.
A. Rubber Trust UTILITIES
Trom
1.75 1.50 1000 @ 3.80 2.40 250
renewed
concerned
in
3 It will, properly ap- piled, reduce costs and increase
the
had
10
All this is in contrast to con-production.
lines. production
walinished engine laboriously be position for each requiring
Harsh Fact
Electric
Macao Elec (0) 0}1⁄2
(N) 8.50 Telephone 3174
INDUSTRIALS
Comment
Automation has been described | veutional
where
11 Is bluck
as "the process that takes man out of manufacturing.
simple mechanisn- | pwang into more than
ince reduced to the bare
MUDA.
Mr Meany has warned labour thol It must guard against the
life
the means whereby successive process,
production human labour at every stage. linked auto- The capital cost of installing possiblity that this new indus- automation, with its complicated trial age will break down the Costs
conditions of
and Work mini- electronic controls, is enormous.
earners wage
have But for those industries which which eun afford it and profit by it achieved in the past. the future is likely to bring a wider use of this ultra-moder technique
Dow Chemicals
Dupont de Nemoura
221
Lion. 71 Is
Enimpa Kudak
する
N
whole group of
El Paso National Gas
401.
processer can
be
Erie Railrund
21
Family Finance Corp
24
matically so
That labour
044
44
Gen Pub Bri
240
Glidden Ca
39
Goodrich in
Cu
774
Goodvru Tire
03
Heyden Chemical
177
big immerance fineries,
Itstake Mining Co
Ingersoll Rand
inland Steel Ch
intereiemtent Corp
Int'l Buiss Machine
Jat. Harvester
international "Nickel
International Paper
In't Te Tel
John-Manville Cu.
2300 p
25.10
100 200
1000 18.40
the On
44 44% 500 # 35 soybean futures
28004430 Board of Trade today, but other grains finished ir- 35 2000 634.75 regularly lower.
Denters said selling reflected pending form
100 30
38.75 30 500 or 30, 20
201309 $
30.75 uncertainty over legislation.
.73
9.20
9.20
Soybean announcemenÍ
noted on traders
that the A. E. Staley Co., a large processor of 100 ur 12.60 soybeans, has resumed full pro- duction after a month-lone 15 per cent outback. It also was
that
crude announced
today soybean oil sold at 12% cents a pound for February delivery. basis decatur, the highest price since lost Jupe
2000
Hope
10
STORES, ETC
Dairy
10.00 18.80
WATSON
1215
13
Emporium
123
While insisting
that
labour
200
its
little hard evidence upon which to
tu base frm conclusions.
of
What its full effect will not resist industrial pro- will be no one can yet say for gress, he maintains that unions certain.
There has been wide-must greatly expand their train-
buting and re-training programme here, by spread speculation
teach their members
Allied latest mechanical and electronic
progress.
» Dizi Sana Hong
109
COTTONS
the
Textile Corp Nanyang MISCELLANEOUS
Yangtze
5.00
7.00
0,90 ..... 6.00 0.00 2000 śr
ZOOG *
0,90 6.50
Three Results
the
Its already being applied In offices. uf) ne- and railway yards in Batis รร the United States. manufacturing industry that 00% effects are being felt most
organised labour
405.
402
The best-known example automation in action is the Ford
20%
114
21%
8445
Kane C Power & Light
Motor Company plant at River Rouge, Detroit. There, a line of
Kennecolt Copper
12)
Liggett Meyors Tob Co
(1)
Lockheed Aircraft
Lotwa Incorp
Lone Star Cement Ca
73*
Louisville & Nashville R
of ment
Lowenstein & Sons
201
Meaab Tron Corp
454
Minnesota Mining
112
31
Mission Developinent Monsanto Chemical C
Montgomery Ward
Motorola ne
National Canh Her "A"
National Dairy Prod
National Lend
National Steel Corp
New York Centr
Olin Mathieson Olle Elevatora Owen-linois Class Pacific Clas & Elec
Pacific Western Ou
Pan American Airways
Paramount Pictures
Parke Davis Cu Penny C. co Peop
Ball Cu
Frip Morr
Procter & Gamble Co
Pittsburgh Plate Cl
Pubiler dur
Pure Ou
Badlo Corporation
Bemale Steel Reynolda Metal
Sbell Oll Ca
Babi Reg
Paper
Sinclair Oil Socony Vaccum
South Porto Rico Bugar Bouthern National Gos Southern Railway (Cont.) Standard Brands
giant machines connected by hoists automatic conveyors and 219% produces 5,500 engine blocks
day, operated by only a handful
A
face "Labour must also harsh fact that there may come
many industries which would result in widespread uncripley- Automation would un- doubtedly save labour in messment," he added.
Three results might, however, an extended re-tooling period in be expected:
New York Cotton
Futures Buoyant Start
New York, Feb. 7.
Cotton futures today bogged down after a buoyant start then retraced part of
12 the lost ground toward the close.
Declaring that to prevent needless suffering, unions in the mass-production industries have already taken toys to secure supplementary unemployment -compensation
a guaranteed annual wage, he continued:
от
London Gold Shares Rise Daily
London, Feb. 7.
in
says
No Comparison
of
each Payment
wages workers in the month to the
(the equivalent Japanese mills of £15 a month for men and
March April
some one sheets at 381⁄2 cents; 38 cents; March ones foury ot 30% and March three ambers # 33 cents a pound, delivered.
Moderate amwuots of ship- ment rubber reported available scattered sources but with
£8 a month for women) creat ed an illusion that they had higher wages than they actual- ly received.
Old No. 1 Run contract Generally speaking, "working Mar Conditions in Japanese
mills May similor to
European July
Sept. standards if the smaller estab- Dec. lishments were ignored.
prices mostly shove a workable basis.
Spot. No 1 Ras who quoted 39% cents a pound. nominally Futures:
SVETO
40.00
3725-30
35.75
31.00
34.00
New Standard contract Mar.
Wages were
surprisingly May mills they sept. uniform. At big were higher and at the medium Dec. Small mills hed Mar.
July
35.45
The Agriculture Department mills lower. said today it has taken steps to very low wages and there were increase US export sales by instances of some workers not
tur receiving any offering to extend credit dollar sales of government- | work.
No
direct
Pay for
comparison
AMSTERDAM
The market was steady. Prices closed in guilders per kilogramļo 15
their
No. 1 rubber
owned surplus farmi commodi- iles abroad. Until now, surplus sales have been for cash only, living except for barler arrangements, Japanese and European workers
was possible. the department said.
Wheal closed off to up centi soybeans (new) up 1 to off cent.
Multiply Opportunities
"Such
CLOSING PRICES A strong and active de-
Prices per bushel in cents: mand for gold shares Wheat, No. 2. red
zion Spot insurance against the featured an otherwise dullar. 234(H) ai(L human distress caused by un-market here today, help to employment will also
Gold shares have been rising Sept. cushion the economic shock of
one to two shillings daily fol- Nov.
Corn, No. 2, yellow the transition and avert a tall-lowing newspaper comment on Spai spin."
In these issues | Mar. the sharp drop
MPY In the past year.
July
with the exception of Nov lower
Consolidated and Hud-ye Blor Borax son's Bay which moved up on American buying.
21336-6
May
209-14
July
1973-94
109-1
203
May
Date
Mar.
May
Tobacco
to
"The establishment of a 30- hour week undoubtedly
will multiply job oppor- eve tunities and keep unemployment from getting out of hand." China Mail Special.
Industrials were slightly Sept.
elf Feb. today as follows.
No. 2 rubber
.3,00 Buyer
... 0.04 buyers 302 buyers 3,40 nom,
of No. 1 rubber, standards between No. 1 crepe
SINGAPORE The market was steady today. There was some enquiry for the savings lower grade goods. Futures:
rubber per Ib.
Commenting on made by the girl workers, the "The comments: delegation grenler the savings of each girl while employed the better will be her prospect of securing n good husband."
London Foreign
New York Montreal Amsterdam Brussels
Exchange
Copenhagen Frankfurt MBR
13444
12214-12 12145
64
24916
Paris
250-2 25334-254
Stockholm
Zurich
23434-250 241
Lisbon
238
130-140
$13.70
London, Feb. 7. 2.00-11/18-23032 3.80-5/18-2.80-7/18 10.812-10.62 - 139.0236-129/57 15 10.329-19.33 11.729-11.73
1783-178316 08345-34
14.574-14.69K
12.34-12.25
United Press.
No.1
Feb.
1099-1001
Маг
Apri
100-100% unquoted
No. 2rubber per it.
Fob
10715-108
No. 3
rubber per b
Feb.
10712-2074
16333-10145
SNIS-8034
1, No. 4 rubber per lb.
Fob.
Spot rubber unbaled .. 1097%-100% Blanket crepe .... No.
pale crepe
LONDON
The market was barely steady with spot quoted at 32% pence per lb. Prices:
No. 1 Rus
spot
Settlement house term:
March
ADHI
April/June
July/September
October/December
General markets, cif basis,
February
March
April
Potato crepe this Feb, &
thick....
Cmnited
32%-3214
United Airerdis
US. Gypsum
U. 8. Line Co.
U.S. Rubber
U.B. Smelling US. Stoel... Warner Bros. Westinghoumy West Va. Pulp & Paper Woolworth
Electric
NEW YORK
Singapore
Prices of futures closed today Stock Market
A slow-down in textlle mar-in cents per lb. as follows:
March
Nearby showed relative steadiness. The spot month rose to 35.00 cens a pound, a new high since late February last year, and held most of the gain through the day.
Singapore, Feb. 8. Brokers today quoted the following stock prices:
מוני
Tobacco Dropped. Imperial
mare
Nov.
dropped Soybeans, No. 2, yellow
Spot than a shilling as diree- tors failed 10 increase the May dividend. Unilever and Unilover July N. V. fell more than one still- Sept.
the overnight | Barley ing, following announcement of an increase in Spot the Dutch Bank rate.
Olis,
except for Trinidad issues, were off as much is two shillings, dixpence,
Fears
of a higher bank rate or a credit squeeze dropped government bonds British 21/16 to 2.1/18.
New York flour too 10.
sack
WINNIPEG PRICÉS
Winnipeg, Feb. 8. Prices of grain futures closed as per bushel today in cents follows:
moved up | Oats .
10437
423
Standard O of Cal, xd
919
Uncertainly marked the price | July gelion wille traders pondered developments un farm legislation and wondered whether the re- May lurn to rigid high supports,
Oct.
30,000 27,300
27.500
225,000
Dec Mar
21,000
105,000
9,200
75,000
0,400
43,600
July
4,200
12,700
Totat
144,000 1.585,200 bales
Standard Oil of Ind. xd.
514%
approved by the Senate Agricul
Standard Of NJ
180
Sterling Drug_Co.
34
Stokely-Van Camp.
2015
ture Cominiltre, would be ro- tained in any final legislation.
Studebaker-Packard Cup.
DIL
wilt & Co.
47%
Texas Co.....
Tide Water Anm. 011
Twenty Century Fox Film
24
1211) ket activity niso acted to cool
buying interests
Spot
while a
lew
Mar.
.20
A.50
May
tinian Carbide...
Union Pacific Railway
1001 17015
0014
technicians thought the market was undergoing an intanai readi- justment after a sharp rise.
July
30.03
Oct
31.01
Dec
Mar.
1.72
Opening
2312
May
Balu
Lintang Rubber
0314
contract
July
.00
Ltd.
BO
British Borneo
635%
NEW ORLEANS
Syndicate
Consolidated
Co
Petroleum
Smel
in cents per lb. as follows:
Prices of futures closed today
Ord.
Fraser & Neave Ltd. Ord.
43/-
29/- $1.77
Japanese issues Brotind a dollar group, while quiet United Pros
in the foreign German's
May
7044
were
July
7245
Oct,
703%
Ryo
Mary
1123/
Spot
34.05
July
10736-3
Mar
35.00
pret
Oct.
100
May
34.00
Hongkong & Shanghel Bask-
July
33.51
Ing Corp.
Barley
Oct
31.00
Hongkong Tin Lia..
May
1011⁄2
Dec.
31.03
Kempas Ad,
July
May
Mar. July
31.34
Lunas Rubber Estates, Lia,
9014-
31,00
Malayan Breweries
L
Flaxed
30.00
New Scranial Rubber
May
Ltd,
July
$4.100
Oct.
红花
$1.00
Buyers Selters
Lad.
Straits Trading.
2010 Tin spot
780
781
781
25.30
Birgits learnailp
$12,50
Copper apok
2145
United Engineers Ord.
E-month
23.TH
Woarne Brod. ....
$3.87
* China Mail SpecĪBĀ,
20.80
Imact 1st hail Feb. May Zing Ist best van...
1381
28.35
Jestled, Press.
20.20
40.50
483
United Press.
New York Sugar Market
Liverpool brokers were moderate buyers of nearby months. In the forenoon New Orleans interests were promi- 'nent zeliers, along with outside houses. Scalo- New York, Feb. 7..
Commission
buying by mills, chipperTB World
futures and other No. 4 sugar
trade Interests closed today unchanged to points lower with sales of 30 contracts.
Fraser & Neave 75 cum.
LIVERPOOL
Petaling Tin Ltd.
Hana Hotel
Singapore Cold Storage
Future closings, in pence per Soul British Insurálico
1. were as follows: has Old contract
of
Mar/Apr. May/Juna July/Aug May/Jume
2 absorbed the offerings.
Yugoslavia
reportedly
credit been granted 驵 The domestic No 0
$9,600,000 ougar
for the purchase of futures closed unchanged to 1 US cotton. Contracting dates New contract point lower with sales of 175 will be February 9 to May 15 July/Aug. contracta,
with delivery to be completed Oct/Nov. Prices inclined to soften in by June 15.
Dec/Jan. beth-contracts in line with the
The certificated stock remain Earpan Karnak
Mar/Apr... od at 18,031 bajos,
Final rango
lower rww situation. Futures;
Contract No, 4 (world)
showed the Hat up 7 to down 10 points. Open- Ing prices were up 2 to 2 points New Oricans closed up 5. to down 13 points,
SAO PAULO
per kitcgram, elf Feb. were us Futures closings, in cruzeiros
follows:
Spotefcents per lb, təb
The New Orleans Coltges Ex-
March
3.20
chango will be open as
al
Contrapt No &
on Monday, Feb. 18. but will bo
NAY July Oct.
0.32
closed on Tuesday, Feb. 14 ----
Doc.
020
Mardi Gras. Dayc
BA
9.01
were
Month
Volume
March May
15,700
Open intaresti 34179 canta,
372 bales.
the US, the nvdrage prico
140 Wolphne and jopen interest (of 18/10 míadling Ciklós #014)
$0.00
NEW YORK COTTONSEED OIL
Prices
New York, ID:4:
of cottonwood futuris closed today in cents per lb. as follows:
LONDON METAL
PRICES
London Feb. 7.
Prices of metal, futures closed
today in sterling per long ton os follows:
LEMIOLA-E....
NEW YORK METAL
དྷ་སོ་ ཏན་ ་་་
FUTURES
My York, Fob2. Of Contal, Diturus ploned.
pents per Aba
United Press.
CHICAGO LARD FUTURES
Chicago, Feb. 7. Lord futures in cents per lb. closed today as follows:
Juty Sept
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