1956-07-05 — Page 9

THE CHINA MAIL,

THURSDAY, JULY 5, 1956.

Pago

TRADE and COMMERCE

Repercussions Of Amalgamation LIFT BAN

Canada's Labour Unions

Of

IMPACT ON ECONOMICS AND MAYBE ON 1957 ELECTION

Ottawa, July 4.

The amalgamation of Canada's two strongest labour groupings at the end of April is certain to have a considerable impact upon the economic life of Canada and may have repercussions upon its political direction, perhaps even at the next general election, expected next year.

London Share

Prices Move Higher

London, July 4. Prices moved higher in moderately active trading Stock Ex- on the London Inspired by_the_evnvolutation officially backed the Chopera The Socialists are pleased at change

in- today with of forces in

Federa- the perofinition of the Co-opdustrials and American Jabour live C'ortunenwealth

oils holding the Canadian Trades and Labor

Il dul

Eve Common Wealth Federa- Congress tab

Catrachan estatrol the

Lor alone

Canadian the spotlight, anong Congress

tur, With membershop and actually Its parties. as having contributed of members did not vote solidly t Labour's fegisintive pro-

caniktales. The just under one mißion, amalga-feet seralist med ## Poronto convention, jalaton, however, did have

the "Camudur Tatlined wine influence, brumun

membership between

Congress

Over

Tar

CKM the

Since the Trades and ben Congress, With members, hnd the largest mem- bership, it was natural that the proident of the

Lives.

fo I attempt

ita votes nf

Two Resolutions

Anal training

ni

gran

The non-socialista are pleased | That the new organisation bay no such offein! Tak with the Federation as had the old Cana- dan Congress of Labour

Cenlives. งา Labernis [1 compromise Whs

parties Bangla Excrked out for which Mr Jodorn, Fore pleased that their new mated body should have been Fant former Lateral parte į may wm the endorsement chosen from its innks He is MF-worker, is given much eredat by Claude Joder, almost unka owerh

In Canadian labour circles utilid

he became

Trudes

two years ago

president

Laberin

Father Lost Money

the

Powde

mutan rules

11

were

Under thus bermula. two re- Noluntar

passed Baxt Base racial effects

which

But what meet unusual wil the chouers of Ali Jodos os that the leadershita hais Teen antrust exi

of iv

(1 generatim of professional inbour leaders rather thin

as bu been

Đ

the practice hitherto, who ruse from the toks labour Itsell

..!

Claude Junkvott was train to the i var comparative affluence driven by Die legny hauffeur and a male at Mondiaul's mari

Hotel But ht Munt Royal father st h obey

the

1920 stock minket vensb and young Claude had to start work

earning 14 dellars

weck

clearing brush.

He entered the labente

ment as an organiser

Emykenglikutana 12 Landes

The

Bancal

Workers' Union in 1937, at 35

the

dollars # werk stang of Canadian fabon

"ple-end boy,"

:14

he wor test >

སྙན་ ་ རྟེན

the "hog-choppers”. men have served long years 11 factory or packing plant this fact was neves used aut cans. Jexterin

in his rise to the pr sidency since he moved to the a

With interly organiser excellent command ed Emul dr.

his mother tong us well u French

At Toronto, Mr Jodon

missed critigasth

with a qu

Sy

15.

"Some people will

I have grown if the dabaniy

movement.

Ph

ment

I tell you I have

with the labour the p

Just as Canada as clusen « French Canadian

Cathobe

1

as

0%

the

Prime Minister, Canutian Jabour movement chusen one, al time when this

have important CuRajons. It happens that

may

only large

reper-

the

·

They tato

2314- kramme of political edura bon at union level

2 They

the new amalgamation.

The weakness palve Feteration has

ON CHINA

TRADE

Bonn, July 4. The West German of Industries Federation called today for lifting of the ban on trade with China.

The proposal highlighted report by a goodwill misalon of the Federation

out

SECTION

Malayan Trade

Balance

Unfavourable

Kuala Lumpur, July 4. Malaya had an unfavour- able external trade balanc 01 23.0 millots Malayan dollars last month, accord-

lug to provisional trade figures publishes today by the Department of Com- merce and Industry.

Imports amounted to 333 million dollars against ex- of 309.1 inillion dollars-Reuter,

portn which carried a five-week Far Eastern tour in February and March, The mission was trended by Fritz Berg, Choirman of Federation.

the

*The mission's report declared that

the embargo "no longer is timely because the ban on trade with other Communit bloc states has already bon ensed.

SWITCHING OVER Borax deferred featured with

"China can jump of about 14 shillings

obtain from its Bowaters reportedly on Ameri-

trading partners in the Eastern Als bloe all products whose direct can buying. rose 3s 3d. showing good gains were Roll-importation from the West la Royo, 28 d and Ford Motor,

the report said. 133

Pre it seems

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Business

Stock

done on the Hong-

Exchange

Artificial Islands'

Built In Being Built South China Sea

London, July 4.

An artificial “island," made of steel, from which oil wells can be drilled into the sea bed, has just been set in position in the South China Sea.

The "island." 20 miles from the

British count of Brunei, Borneo, is expected to be com- pleted, and drilling operations begun, in about a month's time. The location, known as Ampa Patches, is a torni reed

lying

30 feet below the surface of the sen anxi appears on marine charts as a hazard to shipping. A second, similar. "island" 18 shortly to be sot up elițist miles from the coast of Sarawak and 00 miles southwest

Ampa Pulcher. The water here is some

PIPELINE FOR WEST GERMANY

Hanover, July 4.

75 feet deep. Thin location does West Germany is to and deepen Wilhelmshaven

not appear on any charts has been given the name

Siwa after its nearest googma-

of harbour and grant credita

phical feature, a small river of and tax concessions to an that name

Much Larger

The total cost

of these twa

that a re-

this laxation of the China embargo on

amounted morning to

appro- Royal Dutch paced a strong

Its modification or at least £1.

foximately $480,000. Num quala- oil group with a rise of

sust the gearend embargo

tions and Petroleum,

Shell Communit Brish k

the morning's trans-projects, which are being carried countries. appears

out by Shell, is expected to be Transport and Canadian Engle utvisable

and urgent.

That action;

about £025.000, wn up ăn G.

would also case to a certain ex-

Japan's difficulties tent

In band switching over from obtaining

raw materials from

China ដ

Western cxpensive In our wish for cusing of the Chinn embargo

the Co- Commonwealth

been its total failure to make progress in the Catholic pro- Prench-speaking,

vince of Quebec

At the same time, it has had Lather remarkable SUCCURS

stick building a following from

in- in- basqueule elerpents as the

tantial workers of the great of the candid-ties and the farmers

Wool. nectably

Saskut as rural

chewan, where 4 Co-operative Commonwealth government is in

ates Bom

they uy

leav dividual units

shume

any party. Wisli.

the free

+++

They recognise the Co- Commonwealth peralite Federation as a party which "has fought rondstently for | Jučer vir

legislative 90- 200

sebion committee

To

power

Great Strides

In order to win votes in

| Qtrebee, the Comperative Com-

naine

in

4 They creet the political (merweaith Federation recently

its ofBelal clanged pirate the possibilules of French to Somad Democratic

farmaparty. Co-operation

with

Whether in aflation, how- aflated! groups. mmons, and molitical partiesjever loose, with this party

through a the

Canadian support ple.get

perhaps

be burn Canadian

yet Labour party of

of Canadian Congress Labour

pro- the Kramn.

Canadian Labour, under Mr Jodoin, seems except. specifically.kely to make great strides in party The

Progressive the province of Quebec.--China Labour

Mai Special.

(C)

Congress legislative

ally

(Communist) party

US IMPORTS HIT

RECORD

HIGH

LAST YEAR

New York, July 4.

US imports swelled to a record high of more than 11.3 billion in 1955, as the sharp upward post- war trade trend continued unabated, the Federal Reserve Bank of New York reported today.

Briush Government

ani closed were active guine of 1/18 to ...

with

with

Germanis

weak werC Potash 8% per cents down £7. the 7s down. £1 and B Young L

off not-assenteci

£2. Several Japanese non-essenteds. however, rose £% to 21, - United Press.

WORLD

RUBBER

MARKETS

London, July 4 The rubber market was quiet after firm with spot quoted ni 26 5/10 pencu per fb.

Prices:

more

pources.

Both of the new marine out- 'stations will be virtually

communities.

SURFCA

DANICA

Iyers Hellern Hatos

i link INSURANCES

1100

35 1700 contained

Unloa SHIPPING

975

will have their own stations.

Walertat

(01

IN) Wheelock DOCKS, ET"-

23

42.30

we feel we have the agreement | Waterbot not only of the Japanese bul di number" of other conintries and interests in the Far East."

the

The report

warned that Soviot's "rouble offensive" is a matter for perious concern.

K Whitt Dock Provident

+01 LAND, ETI 1 Hutej

IT Land The report recommended light-Hoty

"rouble offensive" by HUDBER ing the setting up special lostitution Amala

ITUN with

government backing for J. Comms F granting long-term credits to For UrILITIES

Trom Eastern nations beyond the pre- sent live-year maximum,

NETWORK

"The network of trade agrees ments between the Eastern blos, India and

Asiatic other East slalco is beginning-to increase

35 0.48

P11

14.30 14.00

1440 1400

150

610

150324%

self-

They

radio

wtil

powerhouses, materials sheds, and helicopter landing platforms. Drilling crews travel to and from the shore by 4000 or 9.40 helicopter and will live as com- fortable, air-conditioned qua- tera, separated from the drilling

platforms by 80-fool

100 0 145 | over the men,

2300 14.40

200 £5

Kangways

The new "islands" are much

international oil consor- tium, if it starts its to the planned pipeline Ruhr

at Wilhelmshaven instead of Rotterdam, it

was announced here.

А.

Lower Saxony Economics Mudalry spokesman

said the State Govemment had agreed marks of the to pay 12 million estimated 41 million marks harbour needed to deepen the to the 12 metres dipth required

for orcon going tankers.

The West German Govern ment had earlier agreed to pay the rest, if Lower Saxony would pay trer share.

The spokesman said the ali companies would meet early in

1000 14 larger than the three already

operating a mlie off the coast of July to Brunei. They have been decopt signed to store enough drili Speckl pipe. casing, cement, mud other materials

allow 10 to Complete well

1479% 1.30 180 107

$2

07

10

LABO→ 85

23 70 24 20

1000 or 2 BD

700 or 23.90

Star Ferry Youmuri

139

100

100

200 100

24

107

C Light 101 24 70

223

1600 24. QU

3500 r 24 00

Q Light (N) Firefle XD 31, 34%

22

400 31.20

1000 31.00

Telephone 24.19 24.10 300 or 24 70 1000 24.00 just as the Near and Middle | INDUSTRIALS Bas the report wärned.

of

"Technical aid through the technicians and exchange 2844-26% training of young men is play- ing the rame role in this as the

No. Res put.. Settlement house term: AUR.

201-20'>

Jon Mar Apr./June

Sept

Oct/Dec

20-20% 2544-2371

282) 2016 trag of long-term deliveries

and other credits.

General markets, elt bals, ports: July

Cement STORES, ETC. Dairy

35 301

10.40 10.00

Watson

111

COTTONS

Lone. Craw

XD

30

Textile

5.25 4.30

703

3,60

1000

2000 or

1 70 1000 #

Comp. Nanyang INVESTMENTS Yenika. The report added "this rouble cffensive hes further sharpened Algod

K&FE But we must be competition. armed against the offers of the competitors." United

Aug Sepi

2091-20TL 20-20% 20-201 Estute crepe th July 3215 Aug.

thick..

SINGAPORE

34%

TOW Prezi

Subject to minor fluctuations The market here today COTI"

the

ond

Futures

some trade

tinued

steady throughout

Tession

with.

factory

interest

closings were:

No. 1 rubber per ib. July 11%-0155

Aug 0034-91 Sept. unquoted No 2 rubber per tv. July 07-60 DGAS-DT 0415-0011 0132-0141

73-73 103-107

No. 3

No.4

Spot rubber unhaled Blanket erepe No. 1 pale crepe

United Pres

Western Europe has benefitted cent most from the sharp upturn as US 4.1

major supplier of the

boly of organised In the

USI past ten years. outside the imports clanbed. 177 per labour remaining

level of amalgamation is the Canadian

the 1945

The Bank said in

credit and of review

from

and Catholic Confederation of billion,

07.000 members. July Labour, with most of whom are French- business conditions.

Canadians

in the Province of Quebec. This lalter organisation. while not excluding Protestants. is organised on confessional lines and has hitherto remained loof from international ganisations.

labour เม

Crucial Matter

ita

new

Now, however,

lendera that have given an indication they

consider are willing to

with the

provided dian

Congress, that their position is properly safeguarded. The fact that Mr Jodoln can speak to them in their own language and as

Thia dramatic

Invest

1:00

7 03 4.63

21.40 1000 or 11.30

Singapore

ICA Authorisations Stock Market

Washington, July 4.

The International Co-operation Administration (ICA) announced

and

а

be drilled without supplies of heavy material having to be brought from the mainland.

Four Wells

Four wells will

A

[?y<

decide whether to me-

'offor.China Mat

METAL BUYING

be drifted

Washington, July 4. House of from each platform: one vertical

Representatives and three ot an angle. Theinarlor subcommittee has ap- proved a masure backed by the Administration, calling for cou tinued Government buying Cour minerals over the next

drilling rigs will be capable of reaching a depth of 10,000 feet. --London Express Service.

Mexico Not Affected By US Cotton Dumping

cotton Singapore, July 5. Brokers todily

quoted the

today authorisations totalling following stock prices:

of $8,401,604 for the purchase sugar, rice mills, accessories, industrial machinery and a variety of other com} – modities under the ald pro- gramme for Pakistan,

Batu Lint and Hubber Co.

British Bornea

Syndicato

Petroleum

Smeltera

authorisa purchase

of

Mexico City, July 4. A Mexican textile workers union official sold today US "dumping" is no threat to the Mexican cotton industry. Francisco Marquez, Secretary- General of the Tuxile Industry Opening | Workers, sald most of Mexico's production alrendy has been $1.50

sold 47/04 Consolidated Tin

Ord.

20/- Franc & Neave Lid. Ord... $1.70 It also announced

Fraser & Neave 794% cum,

$4.50 of tions

the

GTEL. for

hal Bank- worth

motor Hongkong

Ins Corp stee! mil Hongkong Tin Lid and vehicles, iron materials, industrial machinery, Kemons Ltd. and other products under the aid Lunes Rubber Estates Ltd.

Formosa Malayan Breweries for programme

Now Serandah Kubber United Press.

Lid...

its during the postwar period, London Foreign $7,426517

was noted,

ata- rise in

Latin America hus also begun

to feel the beneficial effects of

ports reflects fundamental incrend US imports, the Bank shift in the role of this countrysid-United Press. from an exporter to a new im-

several commodities porter of baste to this nation's

economie growth, the article observed.

Allay Fears

This development also would allay to some extent fears that the rest of the world would not benefit fully from that growth "because our imports, to many

Belgian Firm

Supplying

analysis, seemned to grow at a Steel For U.S.

A slower rate than our national

Catholic should smooth negolla- | economy," the Bank sald. tlona,

In the eruell matter of itical action,

relevant to continued,

"It is therefore Do- Mr Jodoin's in-note," the article

fluence appears to have been that since 1940-the beginning Brugeolse et Nivelles, what is

paramount,

to

unlon

between

the

wo

of the Marshall Plan-the value One of the principal obstacles of US imports has increased 60 per cent, compared with a 50 amalgamating sections was the per cent rise in the gross a

tional product."

the

Exchange

London, July 4. Foreign exchange rate closed today as follows:

New York Montront Amsterdam

Drumools CopenhageTY Frankfurt Milen

Paria

Stockholm

Zurich

2.799-2.79-11/10; 2.7434-2.747% 10.34-10.0434 130.00-130 0 1933-19.33 11.07-11.07%

1740-1743

Sao Paulo Cotton Market

Sao Paulo, July 4. Colton future closings, In cruzeiros per kilo were as fol lows:

080-00011

14.4332-14,436

12.)-12.1893

July

Others ware

unchanged United

Oct.

Doc.

Mar

From.

The

London Tin

tin

Market

London, July 4. market was firmer, points higher at three-months 64 Turnover

New York, July 4. A Belgian

Lait company,

SA of Nivelles, has obialned believed to be the first contract which the steal frame- under work of an American skyscraper Spot was 7 will be supplied by a foreign | £738% and country.

paints to £7322 was 100 tona,

Spot buyers

bubo 3-month buyers

fact that the Trades and Labour Congress (which had links with the American Ferderation of

The Bonk noted that insports Labour) remained neutral in of petroleum, iron ore, non- Completion ot the contract polities, while

Canndian ferrous metals, and other raw was announced by a spokesman. Congress of Labour (Inked with

materials have rison "sub-of LC. Rucquol, the technical American Committee of alantially" as domestle supplies consultants to the steelmakers thend metalworking industries of meet for these vital com-Belgium and Luxembourg.

have falled to

May

33.00

30.70

30.09

4040

30,00

United Press.

London Wooltop

Market

London, July 4. Wool tops futures market closed steady with a turnover of

Shanghai

Petaling Tin Ltd. Ratta atel

Singapore Cold Storage

"Only 200,000 bales have not contracted for," Marquez National

been

reported to the 16th

of the Union. "This constitute a problem

cotton

Council

does

not

SUDO

to

a/-

$1.07

dustry si

0.70

Ho sald

$2.70

Mexican

$1.73

13.39

€2

$1.40

South British Insurance Co.,

Lid.

$30.00

Stralia Truding

$21.00

Straits Steamnatsip

$14.00

United Engineers Ord.

$0.26

Wearne Bros.......

$2.177

cxap; t-cumaty.

-Con Mail Special.

London Lead

The

And Zinc

London, July 4.

COPPET markot

KITAN

Armer, in the morning #esalon with a turnover of 100 tons.

While Lead was also firmer zinc was steadier. Turnovers were 100 and 350 tons respoc- Closing prices in pence per lb.tively for lead and zine.

49 lots.

wero:

730

July Sept.

73816

73334

Dec.

Jar

Mar.

--United. Prosti May

Sept Qot Dac.

Industrial Organisation) had definite affiliations with Canada's

the Co-opera- demands Socialist party. tive Commonwealth Federallon, modities,

The contract, for a 30 storey which recognised explicitly as

Higher incomes and changing office building, calia for. 1,200 the political arm of the labour

LONDON PEPPER consumption pattorna have tons of large rolled steel pec- movement.

of tions. Deliveries will start in Members of Canada's largest brought bigger importa

by

MARKET political parties. the Liberais finished foods and manufactur-October and be completed

It was pointed the end of nooit Janitary. This feared thated foodstuffs, and Conservatives,

short delivery time was only to

London, July 4, ono

amalgamation out. result

have been the basis on which The pepper marleet was' Dim might be do hand over a large

"Crude foods have not fared the contrast was awarded. "In White: Sarawak was quoted. 2s. socialist body of votes to the

wailing' par 15. sellers; Black Commonwealth quite so well," the Bank said, the US, the average Cooperative Federation.

"primarily because of special ported on large orders for Bardwalk special, is 7d sellers This fear was exaggerated, in developments affecting the price structural steel is said, to be as Black Malabar, July Aug. Whe since whil the and quantity of coffee and cocoa long as 12 months, China, Mail quoted at 233s per owUnited uny case,

Special Canadian Congress of Labour importa"

of

Prom

118-123

110-1183

112-115 11044-121 109-1003 106-130k

106-108

100-10715 100-108 100-100

United · Prest.

Pricon closed at the end of the morning offatal session la sterling per long ten as foll

¿Zino tot half July

Exchange Rates selon closed as follows for tin,

Mexican

boen

of

2 years, oven though stockpho

have ILTRON

reached Tungsten, asbestos, acid-grudo fuorspar and columbium tantalum would be bought by the Government in set quantities ut specific prices between now and December 31, 1958,

to

The measure is intended

CODY hip mining companies to

inue

now production,

thak federal buying of these minerais under stockpiling and defence production acle is completed. The Senate has passed a similor' bill. China Mail Special.

Mexico-Japan

Cotton Barter

Mexico City, July 4. Mexico may barter cotton, for minerals and combustibles 150

Japanese fishing boats, reported Government officials

in-

today.

They said this country

was

fishing

400,000 bales of

cotton already have

been sold abroad and 500,000 interested in acquiring bates have been placed in the craft of 100 to 200 tons. Two- thirds would be used for fish- domestic market. European and

on the Pacific Oriental marketa also are seeking operations ing 700,000 bales, United Coust and the remainder in the Gulf of Mexico,--United Press,

Press

Let US handle

YOUR

PRINTING

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

ONE PROOF

suffices. generally After that, our upsto-date automatic prosses make short work of the job.

Let

for your current

requirements.

us quote

1

lows:

buyers solina

Copper spot

3-month

STILL

370

Lead fast half July

113 112

110 111

03. 12

In the afternoon, the unofficial copper, lead and zinc: in the local Tin opos -Bukiness was' dönd 'unofelsi., exchange market thi | -month. morning at the following fatem::.. [Copper spot U.9. dollar. (per 513-

3.03 north Sterling beban (pur (R1)kan 10,75-) Lood. Ist, half fuly „Australian nipten"(par. 21), 19.3

Indoradan rupiah (pec® 100) 18.002ine fut half Jul

30,00 Bam Beal (per 100).

buyer ellers

750

740

D

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-1.0

Press

SOUTH CHINA MORNING POST

PRINTING DEPT.