1956-04-12 — Page 9

THE CHINA MAIL, THURSDAY, APRIL 12, 1966.

TRADE and COMMERCE

SECTION

Page

New Industrial HOLLAND EXPECTS A BIG NZ SEEKING GEC Expanding Gas

Policy For India

New Delhi, Apr. 11. The Indian Government is expected tomorrow to new industrial policy doubling the num- ber of industries reserved for Government monopoly.

announce a

The general lines of the new polloy will be indicated by the

Commerce and Industry Minia- jer Mr T. P. Krishnamach

during discussion in the Hous

for his of the People of grants ministry in the coming year.

SPENDING SPREE

£30 Million Increase In Nation's

Wage Bill This Month

The Hague, Apr. 10.

The biggest spending spree in Holland since World War II is expected to start soon as a result of recent Govern- ment approval for general wage increases for the country's entire working population.

April has been Aubbed "the golden month" for shopkeepers. They are anticipating a great increase of sales

estimated from bonuses,

at 300,000,000 guilders (about pen reserves creducive res: £30,000,000 sterling), which wage-earners are expected to get

bully for further development. in their pay packets before May 1.

not

At present there are inchastries in which the Gover

O

They Ter copl. iron stuel. ipernit nmufacture, &ipbuilding m stal olis, tele communications vegetipratni, orms and ammunition, nomie energy, ane railway trumport

To these it is expected that under Government monopoly in- dustries wil! now

addert, namely

transport, heavy castings

forgings. and electrical plants, minerale,-sigh as lead, copper, zine, in Molyb- denum, and Wolfram, mochines

for Iron

and stees

With these bontres and other wage rises which are Expected to follow during the year, Dutch

i সन workers

dut estimated

increase of Overall

are

4193

shoul 1,000,000,000 Ruliders £190,000,000 sterling) -- the biggest in any single year from Ierati German occupation

Stare

the

Negotiations over these rises. Jed to one of the bitterst cita. putes between employer and trade union -

the in

postwa production, weary widel has been marked

for mung and for machine tord (until then by an njmest complete manufacture, diamonds, gypsum, cubsence of labour strife telephone enbies, and run-ferrous

metats -Reuleg

The negotiations broke down

tavsen

Foundation I h

of

York Stocks

New York

Recover

After Downturn

New York, Apr. 11.

Stocks took an upward

turn again

WORLD COTTON

MARKETS

New York, Apr. 11. Cotton futurca trading Idled today while the mar- ket waited for the show- down vote in Congress DI the farm bill.

Buyers and sellers moved with extra caution, bringing small lato rallies and drelines

narrow limits.

4

ver

At the close the ilst ruled off

# to up points, Opening prices were unchanged to up 11

pointe New

unchanged.

Spot market

market developments and

Orleans

closed

nows,

toxxtile

in

acounts of new

to continued notice as traders tention

crop progress

Labour. where employers and 1 The need to keep prices down trade union leaders have met Is particularly urgent

the war to discuss | Holland, which has to export lo ever sthre Jabestir

wage live and must be able to com- relations claims.

pete on equal temis in world After the Brs breakdown, the markets, uniors said that the Foundation

Evel

longer exhted" as far as they were concerned

The emuniry's industrial peace sevmed temporarily threatened! breakdowns, for the chy these

Foundation of Labour, which advises the Government. has had great success in maintaining labenir peace since World War

Hours et frank and friendly discussion in the Foundation had

lously almost always led to is comprobe bring reached and ation an unanimaxus recommendation being forwarded by employers

*Th Government,

provisos may well mean that in many industrits workers will get no the three per cent more than

which

be could crease caleolated in the price enats.

Hampered

“The effcel of all the rises, which also Include additonal on the cost holiday payments,

of ving has been estimated at probably na luereuse of between one mod two per cent.

wh.ch Holland, to the Government and anions

hus been These have years elatio A Wage

exception been "cheap" country, alinos! without

nation-wide increase of certainly afford such an increase. for n

The latest wage rives, coupled a certahy percentage, applleable to all workers.

with increases granted in the may also help test two years.

out diffeullies in to smooth Holland's Customs Union with Belgium and Luxembourg.

Within two weeks early this year, the recent negotiations Twire trachei a deadlock and the Foundation was forced to go to the Government for dicvisann.

Saved Strife

A

today with steel shares, chemicals, metals promise which has been sp-

а

substantial

and oils featuring on recovery of their wide losses in yesterday's sharp sell-off.

Gains ranged well over a point in most groups and some individual issues added 2 points or more.

1.189

1853

Constner Cial

Ciech

392%

Commonwealth e

421%

Consolidated Edison

4012

Continental Of of Del

120

402

Crown Zetterbach

001

Cuban Aimer. Sukni

17

Crane Co In

Out of a total appearing on the tape 750 closed bigker and only 332 lower. Industrials

2.00 were up average and rails 1.24 higher.

Volume totalled 2,440,000 cumpared with 2,509,000 shares yesterday.

Coppers Gain

All groups that were harder

hit yesterday recovered

more

than 2 points today with Union

Diamond Alka

Dow Chemicals

Dupont de Nemount

Eastman Kodak

El Paso National Gas

Erie Rolid

| Emuity Finance Corp

General Electric

General Ponds

General Motors

Gen. Pub, Qui Gen Co.

Goodrich . .

Carbide taking the lead of the Goodyear Tire recovery.

Standard

에

of Hayden Chemical

California, Standard Oil of New Homslake Mining Co

*** | Ingersoll-Rand Jersey regained more than one Inland Steel Ca

Kennecott Copper Interchemical Corp. point each.

gained 3 points while Reynolds Basiness Machines

Metal rande a point gain,

There was continuet demand

In Itarvester International Nickel Internaitons Paper Int'l Tel & Tel. John Manville Co. Kansas C Power & Light Hesineeti Copper. Liggett Meyers Tab. Ca.

Lockheed Aire:aft Loews Incorp

for aircrafts which held fairiy well in the sell-off. Bocing and Curtiss-Wright added more than

point ench. Motors were firm. Reynolds Tobacco B ICS- ponded wit

with A gain of more than 2 points when company official held oul hope for Merabi higher dividend.

New York Stock Exchange

bond volume was $1,800,000,

American Stock Exchange volume was 1,090,000 shares.

Dow-Jones closing averages

were:

30 Industrinių

20 mile

15 Ülter

63 яtocka

40 bonde

Comm Tuture price index Cammin, pot price Index Moody' index

Closing Prices

Altfen Inc. Aey,

Allied Chemicala

All Chaienerm

American Cable & Rattle Corp.

AUNG Me Inta.

American Airlino

American Cyanamide Co.

Am. Moch & dry.

American Metal ...

American Smailing

Am, Bugaf stof,

a

American Te! & Tel

American Tob, "B"

Anaconda Copper Arnica, Steel

Annout

Baldwin-Lima-Həm Himore & Ohio Bendix Aviation Corp. Denruct Conɛ. 6. Bethlehem Steel

Boeing Alplers

Borden (The) Co

Burroughe Ads Machine Canadian Pacaillo R 7-CEM, 17, 1). Co.

Coca Cola

Lone Star Cement Co. Louisville & Nashville R.

& Kuns

Lowensttion Carp. Malon Development Montgomery Ward Motorola Inc. National Cash Reg. National Dairy Prod. National Lead New York Centrai

Minnesota Mining

Olin Mathuren Otis Elevatora Owen illinois Glass 012.70 Paule Gas & Elec. 16,70

Preilo Western Oil' 60.54 Tan American Airways 160.20

Paramount Platures

97.00 Parke Davis Co. 155.47 Penny I. C. Cot

Tenn. Salt Co. €29.50 Philip Morris

Procter & Gamble Cu, Pittsburgh Photo Glass Publickor Industries Pure 01

Radio Corporation

Republic Steel

211

123

eynold Metal

351

70

Saint Reg. Paper

Shell Ou Co.

241 | Atclair O

Bocony Koblini!

7631 Mouth Puerto Rico Bugar

301 | Bouthern National Gai

14

Southern Railway (Com.)

A5%8tandard Brande

100

Standard Oil of Cal.

184 Standard Oil of Ind.

D0% Blondard D of N.J.

76||| Bierling Drug Co.

ans. Stokely-Van Camp.

2014 | BlustuskiriPackard Corp

47

Texas Co.

15%. Tide Waler, Amin, "Ol

Twenty Century Fox Fitm

10 Union Carbide

Union Pagine, Hallway

563% United Aircraft 37 UB. Ling Co. MUS, Rubber 143k | UA. Smelting

·UB. Bidd

Woolworth

picture.

get seondary tastened al-

оп the Washington

Statisticians.

CASH LOAN

Auckland, Apr. 117

#

The Minister of Finance, Mr Fick 'Wália, has an- nounced that the Govern- ment intends to seck zew cash loan on the local market about next Vone. He did not disclose the Bize of the

but sald the amount

be fairly tea will

farla

Terma would be the Kanto

as 'those fixed for the current conversion loun -494 per cent for long- term stock und 4% per

cent for short-term.

Mr Watis addef that the Goverment was prepared to accept advance subscrip- tions-China Majl Special.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Turbine Facilities

Schenectady, NY. Apr. 11. The General Electric Company is to spend nearly $7 million on the expansion of its gas turbine facilities here.

Grain Futures Firm In Chicago

Chicago, Apr. 11, Pricon in grain futures wore

the Arm on

Board of Trade today.

Most grains

were somewhat casier after early morning firm- mesa, but toward the end of the

The

In

It

gas turbine department, which manufactures turbines for electric utility, Industrial, railway and marine use, will be expanded to include more of the large ma needed to make new line

toois

macpanyig

the

of a turbine

new buildings,

addition, which will house engineering, marketi

financial and other functions, will be erected adjacent to the manufacturing operations

has also been learned that the frat "wheel" for American gas turbino driven vessel, has been -delivered to the Newport

News Ship- building and Drydock Com-

pany.

The propeller-a 210-inch con- trollable pitch propeller---will be installed in n Liberty ship which is being fitted out with newly developed gas-turbine propulsion machinery.

This

usefulness,

la is part of the US.

Govern- ment's drive to restore fuld-

war-bullt

tonnage to The combination

TÍGU of a new engine and propeller is expected in- crenso the speed of the Liberty ship by 50 per cent lo 18 knotë, - Chinn Mail Special.

roding session started to rise. May, July and Sept.

tip soybeans established new seasonal highs with gains

ranging lo

over seven cents a bushel, Business done calculating the

on the Hong- possible loan area for the 1930 kong Stock Exchange this

Small stocks of soybeans as of, crop, indicates range some morning amounted to ap- April 1. nnd higher marizola

$080,000. where between 31.50 and 35.20 praxímately

Noon for edible

futur and and the morning's | soybeans

ког cents a pound for middling one quotations

meal accounted Inch cotton.

tromsuctionst

the rise in this commodity. SHARES BUYERS SKLLERS SALES BANKS

Promise of moisture in tho 317 1000

10 1085 Bouthwest wheat belt was not forthcoming last night and it accountech Tor one of the factor

buying in wheat

Thio wide difference, plus uncertainty to the Government export programme for surplus raw cotton, also acted to keep a brake on new market interest,

The certineated stock declined | 245 bales to 10,018 bales,

Volume Open, interest

10,900

KK Donk .. 1000

East Asia

INSURANCES

Mision Lombard

DOCKA, ETC.

K. Whart

לי1 Bt

to off 1% to 43%

to

LONDON METAL PRICES

London, Apr. 11.. The un market was quiet, copper steadier, while zinc anti lead were lale. Prices closed today in sterling per long ton as

follows:

Tin spot 3-months

Copper spot 3-month

July Zinet halt Apr.

July

buyero Bellero

761

*United Press.

220

ede

for

50%

futures.

*XD

71

Dock

Month May

Wheelock

10,700

273,000

Provident (0) 13.00 13.00 1075 m 13.30 8.30 0.40 3000 0.35

Wheat closed up cents; soybean up cents.

17,000

LAND, ETC.

203,700

I

HK Hotel

13.80

14 2800 a 13.00

for many

Oct.

1,000

300 200

300 13.00

Dec

408,100

relatively

lik Land

700 02

Mar

3.900 148,000

can almos!

May

July

1,900 108,000 2,700 89,000

Humphreys

1711

Realty

Total

00,700 1,633,300 bales

NEW YORK

CLOSING PRICES 1800 v1

Prices per bishal in cents: 1.423 11 1000 a 120 Wheat, No. 2, red

3500 1.45 |

Lead Ist half Apr.

RUBBER

Spot

Prices of futures closed today as follows:

A Rubber 1.50 1.57% 5000 # 1.08 UTILITIES

TTAM

May 2011 (8) 235%(L) July

24in 2251%

2211-

212.70 230 22.00

1000

Sept

22.70

Now

210

100 2800

Jaa.

500 23.00

!

Spot

13.00

1000 or 21,60

Corn, Na. 2, yollow

May

35.73

200 - 23.60

July

23.03-65

Spot

Oct.

34.00

Bias Ferry

Youmall Ferry 100 101 100 103

May

Deo.

13.73-75

400

July

13436

Mor

32,62

C. Light (0) 22.20 22ła 100 21.70

Sept

150-

is

now

May July

32,41

2000 de 20.00

Nov

1403

31.78

500 G 22.40 1250 22.23

Jon.

1481

NEW ORLEANS

Prices of futures closed today as follows:

Flectrio

Babus Fle

Lor

Spot May

34,00

20.78

C. Light (N) 10.30 19,70 1000 19.70 Rye

233.19.30 May 200 or 10.4 3015 000 6 30.23

1935 Telephone.. 22.80 23,20 2000 @ 22.90

13.12.20

12.00

1321

July

Outs

May

July

July

33.60

569 7 12.50

Oct.

.83-65

INDUSTRIALS

Dec.

Cement

Mar.

May

July

2.45 1.98

.... 33.79 34 100 34'

Metal Indusi 1,80

Soybeans. No. 2. yellow

Spot

400 F 34

May

1000 g 1.00

July

STORES, ETC.

Sept.

Dairy XD

15,00

1800 15.70

Nov.

Wation

1114 300 65 11.20

Jan.

COTTONE

Teklife Corp. 525 5,40

7.00

Barley.

spot

The Benelux Union has to some extent been hampered by the higher costs of labour in Belglum than in Holland,

this difference although gradually disappearing

Another important factor of the difcult wago negotiations was the proof that Dutch trade unions are now Qdopting a The importance of the com-

tougher line than in the past, pronilse, however, was not 10 when,

the

necessither; much that it saved the country the

to pull from the possiblity of labour

they were prepared to accepi stre, but that it set out a new

what amounted to wage cute.

The Government found a com-

proved by both industry and the unions.

and freer

policy for wages

which for many years since the riding high on a boom, they are

war have trojed

been tightly con-

The unions had demanded a general wage increase of three per cent for the entire working population, following the post- of applying any slary increase to every category 504 of wage comer.

war tradition

The

GD

220%

03 and

4031

24

62

19

4535

374

30%

07

iu

161

3044

B8%

G

50%

494

354

工麵

131

30-4

employers opposed this proposed

that salaries be allowed to increase should

of a maximum belly by

per cent in the industries which could afford t

Faced with

With the Dutch economy now

prossing more and more for what they claim is their right- | ful share of the country's pros- perity.

Discipline

Although the Foundation of Labour's influence has probably been weakened by the recent difficulties, the discipline it im posed and the regular consulta- tions

狸 allowed between

employer and unions, are ex- pected to remain and continuo

LIVERPOOL

Future closings. In pence per lb. were as follows:

Old-contract

May/June July/Aust.

New contract

May/June

July/hod.

Oct/Nov.

Dec/Jan.

MIT./API.

Pyptian Karnak May/June

SAO PAULO

21.43

24.50

30.25

3.40

25.76

49.50

Future closings, in cruzeiros

a deadlock over the two positions which neither to keep Holland tree from per kilo were as follows: sitic would modify,

Industrial strife, the Gover-

China Mail ment

that decided

present Spec{a}, wages should be allowed to rise by, u maxim

of six per cent, But it permitted employers to

pay less or nothing at all.

In

effect, this means

have to negotiate

with each individual industry on

that

unlons will

40

'the amount

of the increase it

155

GRE

40

221

74%

137

49

will grant, up to the six per cent

New York Sugar Market

New York, Apr. 11. World No. 4 sugar futures ceiling, thus reoloring a certain closed today 1 point lower to ! freedom in wage negotiations point higher with after years of rigid state control.

'At the same time, the Govern-

InCnt

sales of 10

contracts.

1

The domestle No.

sugar

authorised a bonus of three futures closed today 2 points per cent on last year's wages to make up for what the unions higher to 2 points lover with claimed was a "lag" in 1955 sales of 278 contracts.

salaries.

While the world contract I recommended that the idled, market Interest centred on bonuses be paid before May 1. trade covering operations in the DO but again left Industries free nearby domestic deliveries and to pay nothing, or less, if they the nighet raw indrket, Futures: wished.

Contact No. 4' (world)

10%

Two Provisos

.

May July

September The Government, however, Ociator 45% ruded twa important provisos March

107

MEAS

s to its approval, showing that July

while It WHA prepared to September

40

4016

Open Intereri 1,288 contracts.

abandon some of its former Spot teen por 1b. fob Cuba) control over wagen, it was stil} G% determined to fight infiation

Bb

May July October December March

Nanyang MISCELLANEOUS

Allied ..... 5.00 0.10

WORLD

· RUBBER

MARKETS

New York, Apr. 11.

New York Flour

*130-149m

flour 200 lb. ndek .... $13:40

WINNIPEG PRICES

Winnipeg, Apr. 11.

Prices of grain futures closed per bushel as

today

in cents

follows:

Osis

01.00

31.00

37.70 sales of 290 contracts.

The No. 1 Rss rubber futures closed today 30 to 31.30 70 points higher with Rys

May

July

Oct.

May

12034

July

120

32,70

Oct

Barley

May

July.

Oci.

The standard contract closed

In the US the average prico 10 to 05 points higher with ne of 15/16 middling cotton at 14 sales reported. designated spot markets was on- available today.

KARACHI

back under Prices settled realising, and hedging after a buoyant start,

by influenced higher London-Singapore cables.. In the rubber market, sheet The raw market here become offerings practically all pointe hlahly excited on Monday and

were on the slender side. Bul Tuesday as China bought about fair amounta

wero of umbers local 4F and LSS cottons. 45,000 bales consisting mostly of offered

along from Indonesia with some April shipments askod at 32 cents a pound, cost

Prices closed in rupten per and freight. Small amounts

mound as follows.

4t Eind roller-gin

-

03/2

shipment

April cf

three or blankets were fRDFL绪 ambers,

cents, 10/14 reputed done at 2011⁄2

locally Interest Buying 89 remained in sub-routine volume 09/10

Rss quoted with spot No. 1 United Pros

cents at 32% nominally

Bing roller-gin

saw-gin 280-F Punjab roller gin

Bow-git

Singapore

#

pdumi

Futurce: Contract No. 1 Rs:

May July

3045-50 39.20-39 30.30

Stock Market Blandard contraet;

AMSTERDAM

93.05 31.48 30,00

29.00

20.00

The market was steadier. Pricts closed today in guilders per kilogram, clt, May, a follows:

May

July

Rept.

Contract No. 0

Singapore, Apr. 12,

Dev.

and rising prices. The provisos were;

MAY

.Brokure today quoted the Mar. 5.65) following stock prices:

May

2. Indusdelen, would... Be.

allowed to kilodirte no

· NEW YORK METAL FUTURES

July September 1. Ware increases were

July

538 | Batu," Lintang Rubber Co. permitted "provided that Spot (cents per ib. cif NY

x-dutyl-

35.56 Brush Bomeo Petroleum. they do not essentially

Byndieste Open interem: 3,210, contracto— disturb the Government's | Unlien Prem

Consolidated Tin Smeltern

Ord. price 'stablilaiton policy!!!

Fraser & Neave Ltd Ord, ana

Frater. & Neave

....

Opent ma

$1,54

40/-

-27/00 $1.00

No. E rubber

715 oun,

.prat

85.70

Banking Corp, Hongkong Tu LXI.

7/34

Kampee MA

*

more than a maRxImruta of

THIÊN KẾT ĐỒNG ỔI. THE

Now Tork, Apr. 11: wage increants in them? Prieda of motal futures cibod prices if they can privé today in cents për. lb, ne föllows: the head for this to the Lead Apri

Ovvernmerk

In this way, the Government [Tin:

Intárida (to (penvain, a zwagen

prites-wagen agizwa, which

be extrænely, dangerous to the conutstry'á' obodomy.)

kingApri

juustuga 29|| BROMMAINTE

Lune Rubber States Ltd. 0.77 New Berandall Rubber Co. in 20.

Petaling Tits Ltd.

No. 1 rubber

No. 1. rubber

No. 1 trope

2.02 'buyers.

2.60 buyers

2,50 bugate'

-2.50 buyers

Singapore and London rubber prices were unavailable-United Press...

Exchange Rates

business was done in the local zinoticial exchange" "market. t? Working at the following rates;

Indonesian rupiahs (per 100)," Singapore: {{htrritas

11414

1007/

104

4179% 400

Finxated

May July Oct. Wheat, No. 3, 102), reali; No.” 5,

·184 cent?-United Press.

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