1956-04-04 — Page 9

THE CHINA MAIL, WEDNESDAY, APRIL 4, 1956.

TRADE and

COMMERCE SECTION

ON BRITISH EXPORT

BRAKE C

PRICES

Textile Mil

Rate For Indonesia

Slow Down

Of Advance May Be Answer

London, Apr. 3.

How far must the brake be applied to British export prices if Britain is to regain the competitive position which will enable her to pay her way in the world without continuing anxiety?

This is one of the questions being asked by investors following the British Chancellor's warnings about the dangers of inflation.

WORLD

COTTON

MARKETS

New York, Apr. 3. Cotton futures today see- j sawed narrowly in

Ane OF the slowest sessions of the

year.

Arkish

export

prices

have brian by over 50 per cent in the

postwar yours, while Britain's share of world trade has fallen from a quarter to a fifth

The Chancellor hus said that it would be unwise to pay ton

attention to percentage inued: at any one point of time, If Britta

wmits 10

regain the mising ve per cent, she would trot burve to cut her prices by that amount.

Not A Bad Thing

.:

of

Djakarta. Apriă 3. A texilio Sumedang, south Pjakarių, rebuilt after being very badly damaged during the fighting for Indonesian independence, now ranks

as one of the biggest milim in Indonesia.

Production la not yet in full swing and the factory Is at present producing

textiles only enough meet local requirements.--- China Mall Special.

WORLD

to

RUBBER MARKETS

LONDON BIF TO END

Continuation In Birmingham

The London section of the British Industries Fair next month will be the last to be held in the

capital, but the Birmingham section will continue to be held at Castle Bromwich.

Announcing the ending of the London section on Murch 27, Mr Thorneycroft, President of the Boad of Trade, informed the House of Commons that the Government were convinced that in the changed

tions

stances the £100.000 Treasury grant could be more effectively used in other ways, It would in future be used tr connection with oversea fairs and exhibi-

at which

British goods were shown. The Government, New York, Apr. 3.

with mdustrial in consultation The No. 1 Ras rubber organisations. would consider

contract futures

today how that could best be done, closed 15 to 22 points lower stendy decline in the number of Since 1948 there had been a with sales of 167 contracts.com

Rat buyers, which clear indication that this was not the best way of cup- The re-

The standard contract closed was

6 to 20 points lower with sales of one contract. Prices

firmed porting the export drive. for a time after a lower start rectors of the company responding to reports of

Ruspersible for the section had in-

formed him

the grant

sian steamers loading at Penang

that

nt okt May

15

reported

lot

lilill

lubilities.

Industries "Too Big"

NY STOCKS

CONTINUE

ADVANCE

New York, Apr. 3. Stocks pushed their ad- vance further in early trad-

profit-taking ing today but with

favourites.

some in recent

Trading was moderately

bctive.

ما

Page

HONGKONG US World Trade, Aid

STOCK

And Investment

EXCHANGE Reach New Peaks

(From Our Correspondent)

Business done on the Hong- kong Stock

this Exchange morning amounted to approx mately $780,000, Noon quotní tions and the morning's transac tions:

Washington, Apr. 3. US transactions with foreign countries in the form of trade, pid or investment reached their highest level on record at the end of 1955, the Department of Commerce reports.'

The report said, that

the Receipts were swelled also by United States sent abroad in higher Income from US foreign 1231600 the final quarter of last year Investments and sales

BARES BUYERS SELLERS SALES BANKS INSURANCES

HK Bank East Alp

Union

Lombard

SHOPPING

1655 +

220

973

0034

Waterboat 0) 175

DOCKS, ETC.

454

K. Whort

Dock XD Provident (0)

S'hai Dock. Wheelock

LAND, ETC.

1320

1500

6.35 840 IDOU

BAD

of ser-...

about 5,000 million dollars vices. worth of goods and services, tho US transactions abroad in the highest quarterly amount ever | fourth quarter of last year, re- recorded.

sulted in a guin in foreign gold and, dollar holdings of appro- ximately 200 millions compared with a gain of about 400 millions in the final quarter of 1994.

This total included about $400 million worth of gift military supplies and services for Allied 1,40 countries.

the outflow of US However,

and services in the last three months of 1835

was record oven without

HK Hotel. 54 14.20.2000 9 14.10 TIK Land ..0010 1020 24 6315 - goods

1700# 01

Humphreys. 17.30 17,00

RUDBER

Trust......

2.10

Ayer Tawah

$30

1000 € 0.40

UTILITIES

Tram

...... 12.80 22.90 1000 64 23

2150 22.00

103

Yaumati Ferry

XD

100

300 + 2 C. Light (0) 21.70

Light (N) 19.90 10.40 2500 19.20 19.30 Electric

29,70

It

Масто

Eleg (01 Мледа

... 20.30 20.00 1000 1000

military shipments.

Holdings Rose

Altogether in 1955 the country million counting paid out some $21,309

including aid payments and | investment dollars, the Depart-

ment said.

US payments, to foreign coun- tries for goods and services also reached

$1 record "high $4,307,000,000,

Receipts Swelled

at

For the entire year of 1955, the Department said, the coun. try sent abroad approximately $21,800,000 worth of -goods and 22.00 23.70 500 32.00 services-a rise of nearly $1,000

million over the 1954 total.

Elte (N) Telephone X All

0.30

in

Oils, were leaders with gains ringing 1% points Stantard Oil of California INDUSTRIALS

Ceinent which reached $106, TOKES

Rope Gulf 1 to $40%.

STORES, ETC.

Dairy Westinghouse Electric reneted to news of plans for a heavy sales.campaign with a gain of 14 to $60.

Bethlehem 1050 a point to $105. Other steels moved more narrowly.

Realising after yesterday's 24 paint rise cut Aluminium Company of America 2% points to $121.

for Vladivostok, but the market would be insufficient to enable on and meet ran into increased selling and them to carry hedge

Олье pressure.

of May standard was exchanged points in a world of widespread in for

achieve the difference. flation, she muy

An offtetai of the Federation results she wants by slowing Dealers

large of British Industries informed down the rate at which prices offerings in the shipment The Times that they fell that At the close the list ruled up

are advancing, particularly on market, including some 500 to the London section of the B.I.F. 4 to down 11 points. Opening the home front.

and 600 tons of bark

around had made an important con- prices were up 2 to 5 points.

So long as all countries are 3,000 tons of ambers from tribution to the development of New Orleans closed unchanged suffering from Infintion, it

Small quantities British trade, particularly with Aircrafts, weak in yesterday's to of 11 points, Ring observers

only necessary

reported soki,

regard to exports. Including estimated the volume below the

lute trading showed continued stauld not try to run faster 60 tons of April lpment burk

industries which precasiness. 61,500 bales done on Monday

Douglas lost a point than the rest of the fold. A ot

good use of the to $80. mode and compared

100 as with a

anderate dose of inflation is not! fos cepts and around recent

of three ambers at 28 London section of the fair had

Dow-Jones closing averages on over

now grown too big to take part Wall Street lodry were as follows: in a general fair and preferred

30 industrials to exhibit at specialised shows, 20 raila

10 utilities of which there were now about

65 stacks 70 each year in the United Kingdom.

daily average of well

100,000 bates,

that Briinin

a bad thing in itself.

cents, cost and freight, with

It is perhaps signifleant that further sellers indicated in late the Chancellor now is asking

dealings.. Barring unexpected develop for a "reasonable balance uf ments, traders thought the Jullfestation to undo the harm remained largely

Factory demand locally re- absent. Spot would continue for the Im-sulting

from the current in-

No. 1 Rss were quoted ni 31 Several over-flationary extremities. hanging uncertainties are ex-

cenia a pound. pected

hold activity

Futures; routine adjustments dratie Interests, they felt.

mediate future.

to

between

No. 1 Rss

20.01 30.20 29.69

Must Increase

The situation 19 still serious, Sept.

dollar The gold and

reserves Dec. now stand at no more than eight per cent of the total turnover May Fuly a ration of the sterling area -

Sept. That would cause concern to any Dee Mar private business company.

May July

Standard

contract

In addklon to the uncertain fate of the omnibus furin bill. two other uppermost factors in mind include an announcement on the interim loan rate for the new crop and the question of whether disposal of the Govern- The commitments which have ment colton surplus will be to be paid out of Britain's cum- handled on competitive bidings on current

account must basis, or by means of o variable inevitably increase. subsidy arrangement,

On the debit example,

£

Most of the interest today centred in the nearby months, especially July where covering orders for trado decount pre- dominated.

The certificated stock declined 451 beles from the previous post- ing last Thursday to 11,722 bales.

Volume and

open

interest

were:

Month

May

July

Oct

Dec.

Volume Open interest

12,900 321,000

2,700

290,100 0,500 300,000 3,100 0,000

Mar.

4800 138,600

May

0,700 103,400

July

4,300 30,400

Total

NEW YORK

The result had been that

"industrini Britain's

shop window" was now to be found

in these specialised exhibitions. In addition there was increased International in 29.05 participation

30.35 29.03

28.70

trade fairs abroad and in many 30.03 all-British trade fairs which had been launched in recent years. 20.40 Consequently, the London B.I.F. to an Increasing extent had come to represent only a small SINGAPORE

proportion of British Industry The market opened lower on

The growing trend away from overseas advices and there was general to specialised irade for some liquidation. At lower levels, fairs, the spokesman added, was there will be repay-however, there was some trade a symptom of the expansion of ments of sierling balances now and factory support in the after-British industry since the end held in London for Malaya and noon and the market closed a of the war, the

Const Gold

these little above the lowest. Futures: when territories achieve Independence. No. 1 rubber per lb.

ing

10071

side,

April

May June

On the credit skie, the exist

measures are still at work and it remains to be seen how far the trade unions and Indus | No. 3 try respond to the Chancellor's No. latest warning.

Catching Up

carning

2015-0374

0735-081 unquated

"Disappointment"

40 bonds

513.02

171,41

07.17

101.69

Comin. future price index .. 151.30 415.80 Moody's Index

Closing Prices

Alden Inc. Acy, Allied Chemicals Alle Chalmers American Airline American Metal American Smelling American Tel & Tel American Toh, "h Anaconda Copper Artnour

Baltimore & Ohio Bethlehem Steel Canadian Pacine commercial Credit Commonwealth Elec. Consolidated Edison Crane Co.

Chrysler Motors

Dupant de Nemourn

Eastman Kodak General Electrie General Foods

General Motors

Goodyear Tire

In Business Machines Int'l Harvester

International Nickel

"The decision was described No. 2 rubber per 1. April 14-00 loter by Mr Kenneth Horne,

07-0715

managing director of British 8516-8015 Industries Fair, Ltd., ns "a International Paper 115-00 8415-100'5 102-103

Spot rubber unbaled Blanket Brede No. 1 pale crepe

...

AMSTERDAM.

He In Tel. & Tel. bilter

disappointment,"

Jahn-Manville Co. said

the eight Kennecott Copper that during months in which he had been Lockheed Aircraft. Loews Incorp..... B.I.F., managing director of

Montgomery Ward W Ltd., support had been increas. Lone Star Cement Co. Ins

the 1050 London National Cash Reg. sections of the

Shall National Lead Fair, we In 1957, because Otis Elevators

'In

Externally, money

The market was quiet. Prices are now beginning to catch up closed today in guilders per kilo- with output per man hour gram, cif April, as follows:

2.56 buyers have had 120 more exhibitors New York Central among many of Britain's prin- No. 1 rubber $1,500 1,628,300 bates cipal competitors, as the latest No. 3 rubber No. 1 rubber

2.03 buyers than in 1956. report of the European Com- No. 1 crepe mission for Europe indicates.--- London rubber prices were three fairs in London alone," China Mail Special.

unavailable.-United Press.

Prices of futures closed today

as follows:

Spot

Iday

Oct

Mar.

July

NEW ORLEANS

34.0011

35.00 33.60 12.00

32.20

32.20-12

Prices of futures closed today as follows:

May

LIVERPOOL

lb werd as follows:

Old contract May/June

July/A

New contract FURY/ANEL.

Oct/Nav Dea/Jan

TWA

Sales

230 buyers of requesta by ariditional sections of industry, we had planned he continued.

The board of B.I.E., Ltd. has told the Government that the end of 1987 wo expect

Increase 7%

to be self-supporting. We also

Paelße Gar & Eleg.

Pacific Western oil Parent ways Paramount Pictures nadie Corporation

Republic Steel Sinclair Ou Bocany Mobiel Standard Brands Standard Oil of Cal. Standard Oli of Ind. Standard Oli of N.J.

raid that if the fair were to be- Stokely Van Camp. come international,

Onancial Buccess

then Studebaker-Packard Corp. seemed Texas Co

Union Carbide with Ualon Pacific Railway

U.8. Gypsum

that,

stain." He hopech industry, United Aircraft

the backing of Britis "pome enthusiastic exhibition 1.5. Rüliber organisor Washington, Apr. 3.

will now stage a US. Smelun 'London Internationa! Fair. U.8. Steel

Warner Trans World Airlines produced and sold a Such a fair could well help to Westinghotize Electric record $217,431,000 worth of air transportation input new power into the export | Woolworth

drive," he added. 1955, an increase of 7 per cent over 1954, but a

The London #ction will still number of factors contributed to reduction of net be held this year and visitors

will be welcome. income from $10,336,000 or. $3.10 a share to $5,407,000 or $1.62 a share, it was announced today by Warren Lee Pierson, board chairman, and John A. Collings, executive vice president.

London Foreign Exchange

Lonidion, ApƑ!

- 1,80-0/16-2,5)-11/10

200-2.0042

10.00-10.654%

130.5736-130,00 10.3534-10.30 11711173J

Future closings, in pence per Among rossons given for do more of these ultra-modern

died this New York cline in net income were non-aircraft will be 25.38 | recurring costà in

in connection

total Montreal sumigner bringing the

Arnsterdam Introduction A with

of the Super feet to 28.

Brussels G 30,00

Constellations, Super

speling TWA will take copenhagen A Next spring reduction

of $2,600,000 In mail delivery on the first of 28 high Frankfurt

Paris revenue, and aʻallight increase in «peed: exceptional range, Model

Stockholm operating costs per rovente ton 1CIDA Constellations.

Zurich mille.. Charges for depreciation TWA falso has laid tho | Qthers were urichanged were $20,270,000 compared to foundation for jet" "prospera $21,064,000 à 1904.

Mar.fApril

› Egyptian Karnak May/June

BAO PAULO

Future closings, in cruzeiros per jello were as follows:

New Models

Stockholder equity increased

to $72,021,000 or $21.75% a share

with orders for eight Boeing 707 Stratofibii: sex' 1039):

12.2416-12 2015

United Press.

Among TWA achievements New York Foreign the pubili intarest,

·Company ofciais directed attention to the

le of December 31, 1985, com pioneering tritrodantiors of $80

pared to $07,207,000 or $10.14

those lat: the pod of 1984

With the Introductory, exhair

of the comfortable, was

now. In the port, the AWA out

„pointed out that might the

Exchange

Now's

•Naw: Zealand

Watson COTTONS

34 24% 100 e 3423

18.20

This include shipments of

military aid valued at ROMD 17 17.30 1000 @ 17.10 $2,100,000,000, which were about

11

Textile Corp. 523 Nanyang

7.40 MISCELLANEOUS

Yangtze

$1.50

Allied

6.00 1,10

London Market

Closes On

Firm Note

London, Apr. 3. Selective buying helped tho London Stock Ex change close

on a firm note today in its first 1244 session after the long holi-

714 day weekend.

$ 24

solld demand

pushed the leaders up

ten shillings and more. Helped

This Wis approximately $1,800,000,000 higher then dollar payments to foreign countries In 1D54,

Foreign countries in 1953′′ in- creased their gold and dollar asseta by approximately $1,500 million.

This was about $250 million less than in 1954, but 1955 was when the sixth year in a row foreign gold and dollar holdings rose, China Mail Special,

NEW YORK SILVER- PRICES

New York, Apr. 3..

$1.000 milion, loss than in 1934. Commercial exports And economic ajd exporte together Handy & Harman, bullion rose about 2,000 milion dollars dealers, today cut the price of over 1954.

silver-cent to 90% cents a fourth quarter of 1935 Ane ounce, the lowest since early.

exports accounted February. for nearly all of d1$400-million The deniers elted a slackening receipts from foreign oft in demand and unwillingness over those in the final of producers to accumulate at {quarter, of 1954.

the higher level.--United Press,

In comm

rise In nations

PENINSULAR

& ORIENTAL

STEAM NAVIGATION. COMPANY

R.M.S. "CARTHAGE"

NOTICE TO PASSENGERS

672

63

1824

Olis found which

10

70%

201

40%

by a favourable analysis by. New York

SAILS:

brokerage

Arm

Royal Dutch and Shell Transport were features, the former up nearly 21. British petroleum

42"

added belter than 10 shilllliigs. | BAGGAGE:

Friday, 6th April, at 12.00 Noon for the UNITED KINGDOM, via Singa pore, Penang, Colombo, Bombay, Aden and Port Said.

Passengers are requested to send ALL BAGGAGE to the Hongkong & Kow- loon Wharf Co's Godown at No. 2

· GATE, CANTON,ROAD ENTRANCE, by Noon on Thursday, 6th April.

sections, but American favour SPECIAL NOTE: With the exception of hand packages

Dollar stocks advanced line with Wall Street,

in

Industrial Lasteg attracted

1ess attention than

other

195

354

Land?

Ites advanced with Boron Con solidated and Bowaters among

30+

the

leaders.

Auto

05

13552

409

generally improved.

Foreign

bonds

4744

G7

764

107

Голь

shares

were quiet and mostly unchanged-United Press.

carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only.

EMBARKATION: Passengers should embark between

9.80 and 11.00 a.m. on Friday, 6th. April, 1956.

New York Sugar Subject to alteration with or without notice

Market

New York, Apr. 3.

World No. 4 sugar futures to- day closed unchanged to 1 point lower with wales of 25 contracts. Domestle No. 8 sugar futures sclosed 1 point higher to 1 point lower with sales of 113 contracts. World futures ruled · barely Bleady in line with quiet condi- Cotions in the raw market. Dealera understood, Japan pureimsed two ¡cargoes of Cuban raws at 3.31 cents a pound, fab, during 'the % past few days,

70

50

“United Presi.

Indo-Soviet Shipping Agreement

Now Dalhi, Apr. 3...

Iran was reported requiring for 10,000 tons of raws for prompt shipment, while pur- chase by Ceylon was also re- ported pending. Futures:

20trict No. 4 (world)

Mar

Mar

May

July

Sept.

cents per l

An Indo-Sovint, agreement on shipping is expected to be signed shortly under which six Russiars slips and six Indian ships will ply between Indian and Black

Nov. service, It regular Tike ourdaich. I

here occini lo

pensent volume of trade between fugle and Rusala is not appreciable but India proposon trade

during

"ok-duty

Open interés

528588 8

*6.88

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