1956-05-17 — Page 9

TRADE

THE CHINA MAIL, THURSDAY, MAY 17, 1956.

and

COMMERCE

SECTION

Page

NEW YORK Vital Role Of The Trades Towelling Tariff SWISS COTTON INDUSTRY

COTTON

MARKETS

Now York, May 16. Cotton futures today slendied after a mixed start

In another session of slow dealings.

Closing around the day's best Jeyels on a brisk rally the list showed gains of 1 to 23 points. Opening prices were of 2 lu Orleans

3

նք closed off to up 19 points,

points, New

London Stocks Councils HONGKONG

Steady After FOCAL POINT OF LOCAL

Setback

London, May 16. Stocks stendied yesterday's

after setback And most sections had gains in

Traders hesitated about get-fairly quiet trading on ting too far out on either side London Exchange today. of the market pending new in- from Wachtig - centives, either

Oils featured

the

British Petro ton or some change in the tex-leum and Burmah were among the leader% and Royal Dutch tile connections. bought around

Ladded about

Canadian

5,000 buken In the December Earl. advanerd about two shelf- delivery. Observers

ATHEN

The buying represented tur protections galpert

textile orders

Nearby July,

strong

xl, tuet

the vaness.

over the past

aven-

Industrials showed

UNION

ACTIVITY IN BRITAIN

London, May 16. Recently the British Standards Institution--an organisation which aims to set good

standards

and of quality manufacture for all kinds of articles—ran a labelling "quiz." It wanted, to find out what shoppers expected to read on the

the gains runing around sixpener, labels of the goods they were buying.

the recent realising on

Sellers reenfled three weeks the

byt trading was generally quiet, Alto shares found support

times. Engineering and elte- trical issues lagged

GOVERNMENTS FIRM

post month gained $9 a balz British Government stock from The low reacher ormed and closed at the day's Aprit 15. Some sales in July highs. Advances were against purchases of Octo- ber and later deliveries.

The New York Cotton Ex change Servier Bureau snated domestic consumption in the four-week period onded April 28 of all row clion at 715,000 bules. This compart with B10.000 bales used in the preceding Ave-week period ani 095,000 bales used

In the cor- responding four weeks last year.

Indicated consumption for the 30 weeks ended April up- proximated 7,000,000 bates ngolust 0,722,000 bales azo.

Up

t

всё

| £6/18, with medium and long- idated issues popular.

Coppers aped

11 Arm

their note and generally held

Rhodesian gains, Rhokana and Selection Trust featured on the upside,

German liens tetxivl easier and Japanese were unrbanged In an idle foreign group

Dolier stocka falled to stage from sharp losses earlier this week and declines predominated.--United Press.

业

POCOVATY

yeat CHICAGO GRAIN

Export demand continued quiet, although Houston sources noted "considerabie interest" in early new crop Mexican cotton for Japanese milia.

The certificated stock declined 39 bales to 12,834 bales,

Month

May

July

October

December

March

34,000

14.304 120,000

434,700

PRICES

And among the organisations asked to lend a hand in providing this information were Trades Councils in a number of Britain's big towns and cities.

Trades Councils were invited most effective

in letting job because they are widely

the re

know non-unionist

that local there is a union for him to join cognised as representing trade union opinion. As associn- and in pointing out to trade Huns of trade union branches union branches where there are More Thon 300 centres of recruits to be gained for the population In England and trade union movement. Wales they are registered

by the Trades Union Congress and are nccepted by Government, both national and local.

This

year's report activities

the

of Tradea Councils published by the TUC.

shows how widely they enter into the life of their local communities, besides undertaking their specifie trade union responsibilities.

Voluntary Work

have

There

responsibilities long been made clear. Chleago, May 16.

Trades Councils provide ner- Prices per bushel in cats:

vices

local trado 10

union CLOSING PRICES

branches on a range of indus- Wheat, No. 2, red

230-231)

220

2201

2084

2191

213%

213"

153 140-1 1021 1521-193 15744-15 140%

Spot

May 200

July

Put

Nov

Volume Open Interes1

4,400 18,000 241,800 14,500

Mar

Corn, No. 2, yellow

Spot

May

July

3,200

Sept

May

3,100

129,000

Nov

July

4,100

103,000

Маг.

October

400

10.000

Rye

Total

02.100 1,423,300 bales

Mar

July

124'. 125-120

CLOSING PRICES

Data

May

July

Prices of futures closed today

Soybeans, No, 2, yellow

ns follows:

Sport

May

July

Браг

Bel

57-60** 67!

321n 320 32016-321% 2754-270

July

34.40

Nov

3297

Jun

258

Mas.

3200-87 33.14 24.03

Itarley

Sput

120-140

July

22.03

New York flour.

31.25

200 it:

United Prem

$13.00 Untled Press.

New York Stocks

Strengthen

In Early Trading

New York, May 16.

Stocks continued to strengthen in early trading today with gains in special issues running as high as 3 points.

Chase Manhai. Bank

Crown Zellerbach

The advance this morning | Bethlehem Steel was a carryover of yesterday's Canadian Pacific It lata recovery which just about Chryster Motors halved the earlier steep losses. Colgate-Palmolive Co. Olla met demand with Hous-Consolidated Edison tom featuring on a 3 point-rise Cuben Amer. Sugar to $1034.

Dupont de Nemours Eastman Kodak Union Parife stood out General Electric

with a gain of 2 tu General FoodA

General Motors didden Co..... In stoels, Bethlehem was the Goodyear Tyre lender with a riso of a point to Ingersoll-fland

Inti Business Machines

Aralis $10415.

Youngstown

$151. US Sieel edged up 1⁄4 to Int'l Harverðar $37, Republle % to $45 and | Int'l Tel * Tel

Sheet and Tube Kansas C. Power & Light

Kennecott Copter Lockheed Alferaft Loews Incorp.... Lone Star Cement Co Montgomery Ward National Cash Reg. "A" National Lead New York Central

Elevator

* to $924.

Heynolds moved up 2% to $70%. Alco opened a point higher at $117% but inter fell back to $110% for a net loss of

Carrier Corp, stood out among the specials with a rise of 2% to $02.

Early turnover was light. totalling only 440,000 shares for the dni hour compared with 480,000 yesterday and smallest Mince April 20.

Closing Prices

Alfed Chamfo

Copper

allee

an American Airways Paramount Pictures Parke Davis Co. Radio Corporation public steel Biniciale Qi Bocony lobioîî' standard Brands

Standard Oil of. Cal. Standard Oil of Ind.

Standard Ou of NJ,

| Bladsbaker-Packard Corp.

Shwill be b

Texas Co.

01174

Union Carbide

0415 Union Pacific Railway

661

Union Aircraft

Siva Gypsum.

180 UN Rubber *..

ZjUA. Smejtin

| 6353 | Warger Xiece.

3145 | Wwwlinghouse Electrio

Woolworth

Arial, civic und educational

mauers.

They help 10 improve or-- ganisatkin, they

make

TUC policy more widely known, and thuy nominate representatives of the trade union viewpoint to an increasing number of official committees and tribunals.

In

the

majority of Vast Councils all the work is done voluntarily by men and women who have a full-time job 05 well. Nonetheless this spirit of | spare-time service has proved

effective in expanding the acti- vities of Councils and enhancing their standing in local life.

Recruiting Methods

non

A special point in this year's workers report is made about from the

self-governing herritories of the Commonwealth. The TUC's Trades Councils Joint which Consultative Committee

is elected in May each year by the Annual Conference of Trades Councils, and which advises the TUC on Trades Councils affairs, urges that "non-members should be recruited on the basis of the trades they fellow and of the unions which cater for these trades but not on the basis of their race, colo

colour or creed."

Trades Councis use all kinds of methods in recruiting. Some hold exhibitions of their own in which they demonstrate local and national trade union Join in with strength; others

organisations other local

to make their civic occasions case for trade unionism through taking stands at exhibitions or staring in public discussions and debates.

on

All these activities, both trade union and civic, are down for discussion

STOCK EXCHANGE

(From Our Correspondent)-

Business done on the Hong- kong Stock Exchange morning amounted

$141,000. proximately quotations and the

transactions:

ها

this

op- Noon morning's

SHARES BUYERS SELLERS PALES

BANKS

HK Bank .. 1060 PLAMA.

INSURANCES Lombo

DOCKS, ETC.

£30

14

001

Dock 30703914! Provider

(016) Bhai Dock Wheelock 8,00 0.70

LAND ETC.

Ink Hotel HK Land Humphreys.

RUBBER

Α.

Nubber

73.00 13,80 100 13.70 2013 4140

ין

1370 13.00 500 ₫ 13.70

o 4740

135

UTILITIES

Tram

....... 215 22,70 21 § 223 100 22.70 Y'mati Ferry 107 300 103

100

I TO) 2320 150 200

El Light (87) 19.75 20 500 6 19,50

Ent

Ra

1.......... 5035 30% 000 of

Место Eirc.

Telephone

+

Too Low

Washington, May 16. The official Tariff Com minion recommended to President Fisthower to- day, that bé restorna tho duty rate of 49 per cent of ad valorems on importa towelling made. of flax bump or ramie, The pre- sent rate is 10 per cent,

Most Imports come from Sho United Kingdom, Belgium and Japan.

The

after

Carrombandon – neled Investigating the effect of importa

on the

domestic pudustry,

"The Commision found

unandmoolly thal

ibe

towelling in question is bes ing imported into the United

States

such increased quantities, both notund and relative to domestio

pro- duction, as to cause serious

it injury.

noods. sary to restore for an in- definite period the original rate of duty establishod in the Tarid Abt of 1930 on such towelling,' the Commiton announced. United Produ.

WORLD

RUBBER

MARKET

HIT BY JAPAN

AND SYNTHETICS

Basle, May 16.

Switzerland's cotton industry is facing fierce competition from Japan and from new synthetic fibres, the St Gall Chamber of Commerce said in its annual report for 1955.

collapse of

Examining the causes of last year's "dangerous

which prices" some firma lo nil, the

cut profits of NEW YORK ORE

report

said, "this is mainly due to n world

wide overproduction,

parily to prices that

below ours"

Gone Down

arc

mr

AND METAL

Now York, May 10. Prices of metal futures closed today in cents per Ib. as follows:,

Lond

our country.

"This dropping of prices in the report added,

May

June

May

"was started by Increased Im-

June

cent below our prices."

ports from Japan, at prices that zine were originally 20 to 40 per copper May

Mas

June

June

Although Swiss prices for cot- ton goods have since gone down,

and are all dropping,

still exito "a latent

there danger,"

the report found.

from

Swiss imports of Japanese cotton textiles climbed 1,700 quintalo in 1952 to 6,500 quintals in 1955.

But that is not the only threat to Switzerland's cotton in-

dustry in the opinion of the St Gail Chamber of Commerce. "For cheap imports from India

can be

SPOT PRICES --

14.05h

34.50b

$4.25b

08.48b

12.00b

11.08b

43.30b

42.83b

Silver-00% cents per fing dance, Tungsten 4480 per ib.

Derylum-$40.45 per ton, Molybdenum--$1.15 per ib. Meurance-3330 cents per th Aluminum-23.00 cents per lb. Nickel-84.50 cents per lb. Platinum-#103-19% per and oico, Iron or $11.00 per long ton. Copper scrap-30-30.50 cents per tb. Lead scrap-12.30-13.00 cents per Ib. Steel scrip-$47-48 per lang ton -United Press.

After opening higher on little and other East Asian countries New York Foreign

T20.00

1050 1920

"

40 53.70 11.00

700 10,50

INDUSTELALS

C

30

Hope

3000 10

level, Factory

but neligible

STORES, ETC.

Duiry Wotron

COTTONH Textilce Noyong

Exchange

Singapore. May 16.

expected in the rear trade buying the rubber market mered to yesterday's closing future," the report said.

interest was

"It should furthermore, not prices closed

to be disregarded that our sot- tam industry getting constantly petition from the new synthetic New Zealand Abres,"

10 10 20 209 1040 a little steadier.

3.20

2.50 2.70.

Chemical Pulp Exports

From Sweden

Stockholm, May 10,

of this

Future closings were;

No, 1 rubber per 1.

June

July August

No. 2 rubber per tb. June No. 3 rubber per ib. Juno No. 4 rubber per ib. June Spot rubber unbuleḍ Blanket crepe

No. I pale crope

LONDON

3475-844% 047-044 unquoted 63-83% 0014-81% BS1-831 70-78 100-102

The market was steady with spci quoted at 25% pence per Jb. Prices:

2516-2534

Now York, May 10.

England officiel

30-day futures po-day futures

Others were

$3.01

2.00-9/10

270-3/10

2.80-1/10

unchanged. Unitea

Prem

com- increasing

New Measures

"Forlunotcly our textile in-

has

there dustry

recognised facts in time and is determined to counter the existing dimeul- ties by self help measures."

Thesh menšures are Usted in the report as:

1. Improving the technical training of workers and Swoden exported 341,988 tons No, 1 Ras spot of chemical paip valued at 262,-

Industrial and creasing both Settlement house lorm: 82 million crowns in the first | June

scientific research.

2. Increasing productivity by quarter

year against July/Sept. Oct./Dec. 387,884 tons valued at 200.03 Jan./Mar

2416-2435

and modernisa- 3- rationalisation

textile xil-24tion of the Apr./June

industry in General markets, cif basis, ports: Switzerland. May

2014-2514 21-25 3. Increasing and intensifying. 2014-20 the

of the Swis propaganda

in Switzerland inquoted textile industry

and abroad.-United Press,

crowns In the sange

million period of 1955.

Exports of mechanicm pulp, June during

Fame period July

amounted to 80,025 tons valued Estate crepe in May and June 30

Thick

at 24.92 million

Crowns Corri-

pared with 67052 tons worth 23.21 million crowns in January/March 1955,

the at the 1958 Trades Councils Conference at the end of May. Delegates from Councils ali over England and Wales Scotland has its own As differing examples of trade

Trades union enterprise, this year's Council machinery organised Trades Councils report quotes under the Scottish TUC-will be pooling ideas about the way 10 the work of their further organisations.

the donation in two towns

cups for the best road safety records among children attend- ing local schools, and in another two, prizes for apprentices with the highest oltulnments standards of craftsmanship.

Nor have welince been neglected,

AMSTERDAM

Paper and Board exports The market was steady. Prices totalled 198,172 tous valued at closed today In guilders per 195.00

mittion crownS against kilogram, clf, June as follows: 220,808 tons worth 204.41

No. 2 rubber

No, i crepe

In a moment that has register- of last year. Newsprint No. 3 rubber Crowns in the Arst No. 1 rubber el steady organising advances quarter in the post-war period, Trades accounted for 48,528 tons of the Councils have a vital part. While January/March 1950 totalled activities they do not make national trade compared with 53,743 tons

union polley --- only

period unions the corresponding

1955-China Mail Special.

Not so long ago one Trades through the TUC may do that Council in the Midlands enter-Councils are the focal point of tained 50 blind persons, and in much local trade, union activity u small country town the Trades and on the way they carry Council gave Christmas Hilft out their duties, the movement vouchers to nearly

400 retired is often judged. Jocal trade unionists. Other Trades Counelis make a point of helping local hospitals with re- guflar gifts of Bowers, books and toys for chlidren.

1400

Studying Problems

05

how many The report notes Trades Councils make special studies of local problems. Divid- Ing into sub-committees, they consider employment, transport, housing and education as well

anion issues th trade asrecruitment and organization. In 46b this way they come to speak

with mor authority portant aspects of local life. Where Councils are not large enough for specialisations through sub-committees, individuals are

101

89

03

130

im-

ory encouraged to make detailed

studies.

This specialisation is of great help to trade unionists who are

410 appointed through Trades Coun 34 cils to serve on such activities

Government 552102

Omployment 128 committees. National Insurance

30% committees.

hospital manage

20

ment committees,

Health Ser

vice executive councils and local

43 Tribunals of the National Aasis-

055 iance Board.

50

15 the scheme of consultation on

matters of economic,

Some Councils can date + continuous history back into the middle of the fast century and

one of them, the Manchester and Salford Trades Council, called together in 1068 the conference that came to be known as the frst Trades Union Congress,

Exchange Rates

In

of

243 buyers ZAZ buyers

CHICAGO LARD FUTURES

Chicago, May 10. Prices of lard futures closed 2.38 buyer today

in cents рег Jb. DS 252 buyers

follows: --United Press,

May

London Foreign Exchange

New York Business was done in the local

Montreal unofficial exchange market this Amsterdam morning at the following rates? U.S. dollar per $1) Sterling Godes (per (21) Australian notes (per £}) Indonestacy rupiah (per 100) Bread (pee 100) Singapore (Stralka)

Short-Term Outlook

For Lead And Zinc Good

New York, May 16.

Ariels

0.00

10.74 Copenhagen

13/3

Llibon

Milan.

18.50

Paris

24.40

Stockholm

102

Others were

Prens

London, May 10.

200-13/10-201 2478-0/10-2.789% 10.0736-20/03 139.70-1.39.72 19.4134-39.42

July

Sept.

Oct.

Nov.

13.07

13,90

19.10

United Press,

NEW YORK PEPPER MARKET

+

New York, May 18. 80.10-00.20

The pepper market was dull. 175036-1257

White Sarownk, was quoted in D8374-98514

104d 14.8844-14867

b. sellers, black per unchanged.United Sarawak special, was at 1 54d, sellers, Black Malabar, May was priced at, 230s per cwi, zellers-United Press,

London Wooltop

Market

London, May 16. Wooltop market closed steady with B3 lots. Cloding prices were in pence per lbs

May Juty Beptember

December Was January

March

• The short-term outlook for lead and zinc was October reasonably good and long-term outlook encouraging, the Chairman of St Joseph Lend MAY Company told shareholders:

He said there would be shortages of lead for

alter

am

July

Heptember Extober

134-115

11134-1113

100-100%

106-108

100-100

106-107 109-10434 103-1633 103-1034 103-103

1034-10334

United Press,

New York Wooltop Market

noApril were, well ahead of 1935. the rest But, in Aprli shipment dropped- of 1958 unless there was a big land producers' stocks, as well so 'These committees, largely change in market conditions and stockpile shipments showed

unlikely to be much change in increase. de into the price, advisory in character,

| He believed the cause do be The price of xine was sing the motor industry's cutback. industrial

much

The Chairznan did not feel and social importance which is unlikely 10

Government Blockplling was a that (last year'a zine-consumŊ- now such a feature of life in 05 Britain and Which continues stabilising factor. The dam had tion of 1.08 million tons would

New York, May 18. whatever: Government is In not sold zine or lead to the be reached this year. There had

market closed steady stockpile in the Arst quarter been a surplus last year, de today with two to severy points

·Much" of this year, but made sales

depetxled

the higher. the weaknesses

metals in the... swoond strength. ・in both umion organisations

of fotelin, demand. Should consumption remain 464%their area occupies a good deal quarter.

Closing prices were in cents meday Inn Burtipe the pressure, per lb.- of the time of Council

of dorstan mata). Imports woul not

as in

100% power.

Probing

091

Varade

120

dome. Motora Cutback 1955 hold a regular survey, where the 13 state of organisation

Uscussed and plans are drawn up He noted that Saat - pracit B41d for recruiting, campaigns, brings || though lead commumption'.or

Int. In the chairman and weare-million toch was VE 2016 taries 64 ideal branchow, 1}} only on rübelantiale Gloves

The HUG, anderen Simh tenda Mockpiling "preveritedja. 17 unionine with;dcafeniowy Incare Produollon and strip Premte and explanon, Dax today do the wine in the United ska

UG

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