1956-06-21 — Page 9

Page

TRADE

THE CHINA MAIL, ·THURSDAY, JUNE 21, 1956.

and

PRIVATE CAPITAL MAY HELP SOLVE NORWAY'S

BIG TELEPHONE LAG

Oslo.

Some form of private enterprise financing may be employed in Oslo to cover the cost of developing its telephone network and to catch up with the ever-increasing demand that the present State allocations are unable to satisfy.

Since before World War II there has been a the continuous shortage of telephones in Norwegian capital and patient would-be telephone subscribers have had their names on the waiting list for many years before getting a line installed.

And still today, eleven years after the war, the State Telephone and Telegraph Authorities are struggling to catch up with that long waiting list. Because of the ever increasing population of the city and the rising standard of living, the list is getting even longer each year,

During the five years of the German occupation, of

made in the much needed course, lille progress WILH building of new exchanges and the laying of new cables.

After the war both money and materials were scared and at the same time there was a tremendous housing residential districts springing development, whole new

up on the outskirts of the city and bringing a big new demand for telephones.

"The vital importance of the which would be telephone seeTIES

youth."

under-estimated in the post-war

Labra complained Party representative when the Norwegian Parlament debuted the telephone budget recently.

new

paid by

buy

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

Business

The Hongkong Stock Exchango this morning announted to $1,170,000. Noon and the morning's

quotations

tragactions

Shares Buyer Sellers Bales BANKS

110 1093

105

FK Bank INSURANCES

Lainbare

40 3800 30

RYPING

Wheelerd

130

DOCKS, ETC

The 175

..

4112

410 * 4255 110043

K Wharf Dock

vident )

LAND ETC HK Hotel

HK and

Really RUBBER

141⁄2 14 60 1000 20 14%

14:30 141, 106.40

100 1 03

150) AZA

Annis Trust UTILITIES Tranu

7:30 20,000 9 1.478 130 10

the

Star Ferry Yaumatt..

170 10

24 34 20 1000 20

2000 of 24.30 30 or 140 100 113 300 234

500

0

to have been | Goverument at the usual rate.

It was suggested that each

subscriber should band valued at 1,000

kroner (850), and would then receive the normal interest on his money so that he would not suffer any lose

There are now 100,000 people on the wubling list for telephones In Norway and 24,000 of them live in this With the present State budget grant it would take at enel mx years to build the necessary exchanges and develop the network sufficiently to meet the present demand-and that is without taking into account the fact that Uns demund creasing year by year.

Difficult Conditions

in-

AL the present rate of deve- lopment the Telephone authorl- les plan to intall from 4,000 to Oslo 5,000 new telephones each year

in

(* Light (0) 24.40 24 70 1500

COMMERCE SECTION

Ceylon Trade Pact With Bulgaria

Colombo, June, 20. Ceylon has conoluded trade and payment agree- ment with Bulgurta, imi- Ear to previous" agreements signed with other Eastern ́European countries.

Bulgurts agreed to build up a credļi, by selling her goods to Ceylon and to purchase Ceylonese pro.

ducts tn exchange for this

credit.

Possible importa from Bulgaria include

chinery, plate glass, sugar, flour,

COTTON

PRIGES

HIGHER

Now York, June 20. Cotton futures Today sawed narrowly in qulet doal- ings but managed to show emall Ort gains most of the time, from evening-up operations in the nearby July delivery.

Closing on a mild rally the list finished not 5 to 12 points higher. Opening prices were up 4 to off 3 points. New Oricansı closed 8 to 15 points on bld prices.

on

Prior to first notice day

truling in hew crop was a feature. Interest in de ferred deliveries stackened further erop develop- pending ments. UT

Monday, chemicals and mis- cellaneous consumer goods. Ceylon'

exporty, will f olnde tes, rubber, cocosnat

and products, graphite. splets.---United / Press.

New Complaint Against Jap Imports

The

EMILY

RUSSIA'S BIG ORDER FOR

INDIAN TEA

New Delhi, June 20. Bunta has entered India's tes export market with an initial Goal of about 2,000,000 lbs, it was dis- closed today.

The Deal will be put through by the Caloutta tes suction.

Xums was expected to patcluse another 15 million

to 20 million posted» of tea liter, Caloutta tea auction sources said,

Meanwhite li was leamed from official sources that India will

import nearly 200,000 tons of steel from Russia

this year-United

Pream

out

encountered scattered hedge selling, partially against recent sales made

of the government surplus stock.

Open July contracts today totalled 154,800, bales, Because of the steady shrinkage in the certificated stock, market

observers expected tow tenders. Lalest position on the deliver- able stock today totalled 8,590 balca, off 25 bales from the previous day and a cumulative decline of 328 bales since the fint of June,

Month July Washington, June 20.

velveteen Dec. domestic

Mar fabrics industry asked the ay Government today for tariff July and quota protection against Dec Japanese imports.

In a public hearing before the US Tarift Commission, an in- sald the spokesman 430dustry 24.46 American velveteen industry will be completely extinct by the end of this year units real relict is

2000 r 2455 2,500 21

760 3230 1000 et 12.75 granted."

3700 33

279 or 23 40

23 14.10

If the Commission finds that 300 gt 21.50 | velveteen fabrics are being im- 300 8 24.00 ported in such increased quanti- threaten tics is to causo or serious injury to the doméstic industry, it may retornmend pro- tective action to President Elsen. hower, which the President may accept or reject.

30 381 300 30

40

C. Light IN) 21.30 Feride

$30

1man

31 216

Tolestune

HUM IM TRIALS Cerveni itute

24 P

14

24

3700

STORES, ETC. Dairy

10 Q

17

003 n 10,00 100310.00

12.30

Textile 'urp

Nahyang

20 40 000 à 40

4 1900 5.35 7.40 7.00 1000 71%

INVESTMENTS

Ave

Yangue Allied

5.00

3 93 3000 » 1,20 4000 5.85 8000 0. 3000 * 5.23

Watson in-

Ja 50,000,000 kroner loân is raised to finance a speeding-up of this development, the annual number of new telephones could be stalled

increased to 6,000 or 7,000, Thus if the 35,000 new telephone subscribers who con reckon to get their tele-

With her many mountains and phones during the coming jorda und great distances be-years each contributed by buy- 1,000 kroner bond. tween built-up areas, Norwaying

to service (35,000,000 kroner

loun of the would be covered.

Is a difficult country

with telephones,

But the fact that the pepula- tion so scattered makes the need for telephone services

the

all

number

one

COTTONS

Exchange Rates

The Industry's position was set

Mr out by

Howard Richmond, Director of the Crompton Com pany of West Warwick, Rhode Island,

Oct.

Volume Open interart

16,000

72,300

184,800 203,400

221,000 402,700

WORLD RUBBER MARKETS

New York, June 20, No. Re rubber futures contract today closed 5 points higher to 18 points lower" with sales of 99 contracts,

The standard contract closed 15 points lower to 15 points higher with sales of 27 con-

tracta

Closing prices follow:

10.000

141,000

3,000

21,700

1,100 21,500

No. 1 Ras

Totsi

102,200 1,489,300 Bules | Sept.

-United Press.

July

Dec

29.03 20.00-55

27.30

WORLD COTTON PRICES

Standard contract

July

29.50

New York, June 20. Prices of cotton futures closed toray Då follows:

Sept.

28.45

Dec.

27.10

Mar.

20.00

MAY

23.80

July

Spol

30.30

July

14,00

Mixod

Oct.

37.44-45

Dec.

32.53

Mar.

12.38

May

32.41

July

31.09

Oct.

30.70

Dec

30.03

NEW ORLEANS

New Orleans, June 20. Prices of cotton futures closed today as follows:

Spot

July

Det

Deg.

Mar

May

July

Oct.

Dec.

LIVERPOOL

Cotton

36.30

34.00

32,42

32.53

32 53

31.70

30.70

30.03

Liverpool, June 20.

futuro closings, in fair perce per lb. were as follows:

bid contract July/Aug New contract July/Aug

Mr Richmond

for asked higher tariff rates on the lower cost Japanese velveteen imports only, so as to "equalise the cost All these plans are still only

of production to some extent," He also urged a quota to ensure in the exploratory stage, but the Minister has promised Parlia-

Business

done as the local the American industry a Wan the greater.

market this share of the domestic market. vynofficial be

exchange ment Ai present

that some way will

foming at the following Intes:- U.S. datlar (per 1) telephones per heact of popula-found to speed up the installa

Sterling note (per ell tion here is much lower than in ion of telephones so that there

Australian notes (per £13 is hope for the thousands on the

Indoncatan many other countries. In Nor-

(per too) ruplan list. China Mali

Siam tien (per 1001 way it is estimated there are 10 waiting

Singapore (Stails) In-Special 100 telephones for FL*ry habitants, while in the United States the corresponding (gure is 30 and in a city like Stock- Joim

high as 50 tele-

phones per 100 Inhabitants.

In Oslo those who are already telephine subscribers are cotitica to a telephone even if they move house. But if they move into one of the new housing estates on the outskirts of the town they may still have to wait for

work a line because the Cable-inying has not been able to keep pace with the housing serte.

Indefinite Delay

of

Would-be now subscribers whether in town or suburb moy have to wait indefinitely for a line unicsS They have surne special recommendations 10 prove that a telophone ໂອ €9- esential for business от pro fessional reasons.

When the parliamentary com- mitteo reported this year on the telephone budget they ap pealed to the government to find some other way to financó the urgently-nooded development of the telephone network. Minuler of Communications, Mr Kolbjorn Varmana, told Parlie- ment that the Government had considered the matter and as far as Oslo was concerned, they

The

had discussed plane with the municipal_attthorities.

"These piaray have not yet been dealt with in the City Council, but it is understood that municipal authorities

U.S. COMPANY'S BID TO BEAT

HIGH PRICE OF TIN

Chicago, June 19.

Oct/Nov

Dec/Jari.

Mar/Apr.

May/June

4.00

A brief statement In oppos!. 18.73 1234 tion to the application was made 17.30 before the Tariff Commission by 1.02 Mr William Culbertson, counsel Egyptian Karnak July/Aug.

for the Japanese Chamber of Commerce of New York.

28.50

The American Can Company has appropriated $27 million for installation of new manufacturing facilities as a first step in combatting rising tin and steel plate prices. The company will install ex- the growing use of Unless steel tensive new equipment and plant plute in can majcing. facilities at various points in the United States to process betwren 75 and 88 per cent of its tin and from steel plato niquirements continuous strips.

This, to a major extent, will eliminate the use of pre-cut sheets which the company, slong with others in the enn industry,

has been using up to now.

HUGE COILS,

Mr

The company President, W. C. Stolk, said this develop- ment means that we will take plate from the steel companies

in huge coils before it has been Inspected, chemically treated or cut into sheets,

"We will perform

these

the operations in our own plants, sidering assisting with a loan instead of having the stool mills

are con-

50,000,000 kroner of about (£2,000,000 sterling) over period of five years. This would. represent an increase of 50 per cent in the present rate of tele- phone development.

It la planned to raise the money by industrial loans, but o considerable incronco Áră. the telephone subscription rates has met with considerable... public opparition It was pointed out that this would amount to an

28.40 25.20

commission house trading

intra and dealer changing of contracts, provided the main interest on the ter- minal market.

shipment

market,

In The offerings were moderate and still on the high side. Reports of salts from Indonesia in- cluded two sheets, June-July shipment at 20 cents a pound cost and freight.

Dealers reporteck more fac tary inferent apparent, suggest- ing manufacturers Inay be

En vent starting to momummriate

of tories against the new line tyrs for new motor cars pro- duction-United Fres

SINGAPORE RUBBER

MARKET

Singapore, June 20. There was fairly heavy selling after the opening, and in the afternoon The

market 24.30 crratie with no definite trend. 23.75 Future closings WCre; 23.40 No. 1

rubber 87.80 July

Karachi, Jane 20.

August

per

1b.

Motor Shares Lead

Advance On

New York Exchange

New York, June 20.

Stocks continued in a generally irregular and narrow pattern early today but turned to an ad- vance later in the afternoon led by motor shares" when it was announced that the unemployment increase in the car industry was at an end.

Mutual funds and Trusts bought Boars covered..

General Motors Gelty Oll

Cider Co. Goodyear Tire Heyden Chemical Ingerect-Rand........ Inti Business Machines Int Harvester international Nickel

61

Prices moved higher in the big three, General Motors and Chrysite much rose a point while Ford notted fraction and closed nearly a point above the

Inti Tel & Tel printe low. For the market a5 1000 C. Porres Light*** whole Industrials and rails gain-Kensoort Copper ed while utilities last.

Lookhood Adrcraft

After the close the Stock Ex-Low Incorp...... change resorted a sharp drop

in the short interest of all stocks

to the lowest level since Sept. 15, 1953.

Logo for Comment Co. ***** Mimota Naming ... Minion Development Montgomery Ward

National Coats Reg. “A” ........ 404) National Lead

New York Central BUYING INTEREST

atts Elevators ..... Pacific Gas & Elec. During the month ending Pan Americers Alewmyn June 15, the short interest in Paramount Pictures

Parke Devi Co. Ford fell from 23,505 shares to

Penn Salt Co. 11,930; and Studebaker-Packard | Pillsburgh Plate Gloss from 54,488 to 35,904. General Motors short position rose from and Chrysler 70,203 to 80,808,

to from 20,280

24,588 rose

Wall Street reported: that many investors were accumula- ting motor shares which been depressed starply in re- cent market declines.

shares.

had

The big three made up more

A

than five per cent on a turn- over of 1,780,000 shares

ftadlo Cimporation Repubile Steel Reynolds Metal Atecair Cl Bacony Mobillodi Standard Brands Stamlard Off of Cal, Beandard Oft of Ind

standard Oil of NJ, Sterling Drug Co. Stokely-Van Camp, Studebaker-Packard Corp...

Swift & Co.

Texas Co

Union Carbide

Union Pacific Railway United Aircraft

Panhandle OL and General | U.S. Gypsies Motors rose a peint cach, Bocing Snelling xd

Airplane rose 2% and fructional gains marked up by three others. Six declined fractionally and three, were unchanged. This was the

of the 18 most acive position

on the New York stocks traded on Stock Exchange today, the $40,000 of which totalled & shares out of today's 1,760,000. INDUSTRIALS UF

amount of

in

A rise of 2% in Norfolk & Western, of 1X in Northern and of 1 in Santa Fe helped it the mitroad average.

Industrials were

ufted by gains of more than a United Aircraft and Du

Du Pons. The steels closed narrowly ir regular

Olls were highly irre- with a few wide lostra. gular

Of the 1,183 issues traded, (15 more than more

330 yesterday), cd- 287 vanced, 418 declined and anished unchanged. Nine stocks

set new highs and 30 new lows. New York Stock Exchange bond volume was $2,610,000.

American volume was 480,000 shares.

Dow-Jones closing averages

WES

weard:

30 industriala

20 ralla

15 utilition

65 stocks

67-834

No. 3 rubber per ib. July 1833-701 The market was steady after No. 3 rubber per lb. July 7-10 He said the domestic Industry relapse

which was caused by No. 4 rubber per 10 July 145-15

Spot rubber inbaled 1 Bankot trepo had not proved serious injury, the American cotton sales. und the velveteen products of was reported that Communist | No, i pale cropo the two countries were nat China was making enquiry for comparable.

The

further purchases of raw cotton

64.00 100-103 United Pres.

continue here, and it was the main fue- New York Foreign

hearing will tomorrow.—United Press.

New York Sugar Market

New York, June 20. World No. 4 sugar futures to- day closed 3 points lower 10 1 point higher with sales of 40 con racks.

The most effective Un-tree

Domestic No. 6 magar futures can-making material, he added, closed 1 point lower to 1 point was chemically treated steci-higher with sales of 240 China Mail Special,

Australia's $

Loan

Is Subscribed

New York, Jane 20. The public offering today of $25,000,000 Common wealth of Australia 16-year

4

tracts.

con-

מ!

the

The mixed situation domestic futures reflected lower raW market with trado interests on both sides of the market. Futures:

Contract No. 4 (world) ·

July

Sept.

Oct

MAT

MAY

July

Sept.

Spot-cente per

Cube) Open Interest:

Cost: 1,550 contTADU Contract No. 6

3.36

"

July Slept

Νόνι

0.50 Spot(cent · per ok. NY

0.59 Open, interest: 2,309, contracte.

-United Press.

+!

per cent bonds was over- subscribed and the books closed, it was announced to-

"ex-duty) perform them at their cost plus 1 profit,"

He said that among the initial day. steps in the two-year programme

would be construction of a large Investors from the United US Exports Of

and South

new plato processing plant to be States, Europe. built in the Chicago area. This America participated in the unit would have 200,000 square buying

feet of floor space,"

UP 91 PER CENT

Machinery

Washington, June 20.

tor

that kept the market in a sleadier tone.

Prices in rupeer per maund closed today as follows:

47 Punjab roller gin

zen

sind roller gin

aw gin

Exchange

S4/G

Now York, June 20.

Canadia 80/14 29/0

1.01

England official

2.001

30-day Tutor =

2.704

Olivers were unchanged - United

Prest.

290 F Punjab roller gia

99/14 saw gin

Unlied Pre

CLOTHING INDUSTRY IS GROWING

DUTCH IN STRONG

BID FOR

FOREIGN MARKETS

Amsterdam.

Holland, with its garment centre in Amsterdam, is making a strong bid along with Italy and Spain for foreign buyers.

Ready-to-wear clothing ranks | how to promote it, by putting the third most important on coletive fashion shows, for industry in Amsterdam, eclipsed example. only by the metal and shipping At the end of 1955; Industries. It was directly employing 62,400 people.

arc 130

mack

-

ol

Assembly line techniques are taking over, and mass produced clothes are shipped every week The export market is a prime to New York in a firing boxcar by the KLM Airline, Clothing factor in the quick. Dutch fashions,

Thes

clothes rocket, packed with dresses In

plastic bugs leave every Satur simply well

styled

arrive in the Now top

and day night quality French Italian

as well as locally manu-York market for distribution on

Monday

morning. factured fabrics, and, most im-

Styling is sinnied towards the portant, the price is right. An underwriting group of 08

Last

your exports to the export market, and is generally Investment ·ftrms" koaded· · by U.S. exports of machinery at United States amounted to restrained ·

and

simple. The Morgan Stanley & Co. handled year at about $2,800 milion $278,000 (over £91,000). About Netherlaria Fashion Group does the issue.

again led all other categorica of

30,900,000 worth

not allempt (about

to compete with extra and discriminatory tax Mr Stolk pointed out that

commodities, MARINE The Bonds were offerent

The Commnérćo,

£3,000,000) went to Belgium Paris in the high fashion style- Department munity that is those who al-alract: 1940 the price of the most 306 and nccrued interat to said motor re Parts and and 8080,000 (about,200,000) setting fold, nor does it rival Italy: for, sportswear and roody have telephone installed. commonly used variety of clec- yield 4:04 per cent to maturity.

the,wood to Fran trolytic inplate, had increased | Atone

accessories. These ready-to- KID FLOWN TO U.S.

wear designers concentrate on Subscriber Bonds by 21 per cut watte American, numing it, was bid at 100% but' nearly $1,900 million Of 19

Carr's price for sundard no. 2 at 4 p.m. when the booker were | commodities, groups, only experts | The export article most in turning out easy and wearable food cans het risen by only 75 ardened closed the price was a ballon, urucunufactured desandconta, which clothes at prices tuned to the per cent. Simple screen #90% bod, D8% caked giv

stickpetrolburn and accounted for $10,000,000 pocketbook. T Proceeds of iso wild will be

ta www below 1964 Tavola (about 3,400,000 worth of Query Julia vents nothing Fin these 19 groups con mira bu Fulch ready-bo-waer blothes, Not only the marchandise declining to have anything mache representedive, but the Aman capecially to order, in China dam fashion: group la Zoarning Mall Borafak

upon one wection of the com→

Another idea, put forward

I would contri»

!

point during there were

bil sport: @kport Hoeru valued at

11e said the company's decladon applied in part to relirument of true wwanda: Laez explial-are- to process its own plate was stoo|s,8,208,000) (: telr-year 3/4" por rthwind four lith occubout fl 'quirements 'by onɑls Hoding") Influenced by recent fechbaldont borde dues on Augint-1,

upon gicht dévelopment Including, 1950, United Pr

10 bonds

Stock Exchange

Comm, futuro price index.. Moody's index

Closing Prices

Alden Inc. Acy. Allied Chemicals

Allis Chalmers, American Airline American Metal Amerkte Smelling American Tel & Tel American Tob. "B" Anaconda Copper Amnico EDOC Armour

Baltimore & Ohio

Benguat Coc Bethlehem Bled Canadian Pacile R Chrysler Motors uken Colgate-Parnolive Co. Commercial Credi Commonwealth Elec. Consolidated Edison Crane Co...*) *** Crown Zellerbach Cuban Amer, Bugar Diamond Alkali Dupont de Nemours Eastman Kodek General Electric General Food

485.00

UB. Rubber

US Steel

Warner Bros. Westinghouse Electric Woolworth

-United Press,

Singapore

Stock Market

Singapore, June 21, Brokers today

quoted.the. following stock prices:

Opening

81.50

Lid

Datu Lintang Rubber Co. British Borneo

Syndicate Cosaikiated

and

Fra

Petroleum

& Neave Lid Ord & Nowvo 71⁄2 Mum Hongkong

Banking Corp

Hongkong Tin. Ltd - Kempas Lid

Shar

Lumu Rubber Estates Tid Malayan Breweries

New Serandah Rubber Co Petaling Tin Ltd Radios Hotel

Bingapore Cold Storage Bezalk British

150.26 Strale Trading

00.38

173.04

90.16

133.23 413.00

4312

303

1834

Strade Bleumship

United Engineers Ord******** Wesme Broa

Fendi z-exdiv.—China Mill Specia

London Metal

Prices

London, June 20,

The tin market was steady, Spot and three-month both rose, 1 point to £760% and 27412. Turnover was 45 tons,

Spot buyers

SALDES

3-month buyers

cera

Copper, load, and zine prices in sterling per long ton closed in the afternicon as "follows:

buyers soljers

Spot copper 3-month Lead 2nd half June Apz.

Zine 2nd hout Jume

Let US handle

390

United Press.

YOUR PRINTING

Too many proofs mean time wasted. Wo grasp the point at the onset and

suffice. ONE PROOF generally

After that, our upito,dato automatic

prosses make short work of the fob,

Let as quoto for your.

requirvinenés.

SOUTH CHINA MORNING POST PRINTING DEPT.

For prir

of every