1956-09-19 — Page 9

TRADE

THE CHINA MAIL, WEDNESDAY, SEPTEMBER 19, 1956,

and

COMMERCE

Cotton Sales Behind The Iron Curtain

London Stocks Close Quietly

London, Sept. 18.

Stocks moved narrowly and closed irregularly lower in very quiet trading on the London Exchange today.

Oils turned care and postet i decline In fairly i

a moterte

active

Rave up

deading:

Royal Dutch t

down

X1-10-0 whit

other words were

tween

1

one all two shilling

But Cribbar issuez Armed

Volume in other group was

exceeded frnetjes

MIXED

elunges rarely

PICTURE

WORLD ·

RUBBER

HELPED NARROW EGYPT'S MARKETS

UNFAVOURABLE

EXPORT-IMPORT GAP

By RICHARD E. MOONEY

Washington, Sept. 18.

Cotton sales behind the Iron Curtain helped Egypt narrow the unfavourable gap between its exports and imports in the first half of this year, the Commerce Department reported today.

It said President Gamal Abdel Egypt arranged to barter cot- Industrinis presented a mixed | Nasser's Government stepped ton for Communist weapons

Hudsons

and Buy picture

up both purchases and salesfter failing in efforts to obtain Borax showed small gud

Latrond during the six-month US arms. British Governments tended

perod. But it said "the rate of lows on tatoueurnent of

Carcase imports was the greater, 1 at the De forn 1

and the result was smaller 2/6 4.5.1 close

areund

sunce of trade."

PAR

Issues in denumi

Folign

wrc

There also have been uther signs that Nasser's regime is slipping deeper into the Com- iamnunist economie orbit as a re- sult of growing tergon with the West.

However, diplomats and trade

keeping

u starp Speria

frade trends. vye on Egyptian particularly with Russia and its safellites, in view of the row be

Naser and Britain and

the Future

5/-

634 bares

th

Dunge Five

generath

State

qui

KF ganti reverend la

Over

The Suez Conwi.

except br

German Polasit seven par rental

Dilar stuks cheed misNÍ

United Pres

tween

14

أنه

Wall Street Loses

1.5 Billion In Sharp Break

New York, Sept. 18.

The sharpest break in a month wiped more than 1.5 billion from stock values today.

Individual losses ranged to more than four points on the heaviest trading since Aug. 21.

chemicals.

fustruads, Suck

The decline. and metals puerd All sectors of the market tek al- the ting of the selling. though most issues inunaged in! close above their lows

looking for a Chrysler Corp. banner sules in 1957, was one of the few upside standouts in the goneral hist. It Jinished with

polni gain. Yesterday 4 gained more than 2 pouts Ford added

small fraction

Canadian Pacille R

Case id, ty Co. Lot Tractor ..

Celanowo Cury.

CT Financial Corp Chand Manhat. Bank

hrysler Motors

Vidin Amer. Bugar

Dumond Alkali

Thow (rearifandi

3445

કૂવા

151

Department

The Conmerve report was published in the De- Commerce Foreign partment's Wockly? It said growing cotton soles behind the fron Curtains the Brst half of 1950 boosted Egypl'a export earnings 35.8 per cent above the test half of 1956.

US Urged To Bar Aluminium Scrap Exports

Washington, Sept. 18. Aluminium smelters have to urged the Government bar

aluminium scrap ex- fourth ports during the Meanwinje. "usually heavy" quarter of this year.

of machinery The aluminium smelters, at u Egyption imparts

of the with officials and other capital goods resulted meeting

Business Les 23.4 per cent increase

and Defence Services drustic Egypt's outinyn tor import Administration, suid Since exports

than reduction in exports is necessary imports. the Bup In Egypt's because of the decreasing scrup trode was narrowed by about supply available to the industry ane-11th,

hove euch been 4,000

FUNG more

Sharp Decline

te

exp quotas for the last two

New York, Sept. 18. The No. 1 Ras rubber future

10 10 points lower with sales of 42 contracts,

SECTION

WORLD

COTTON MARKETS

New York, Sept. 18. Cotton futures today Ica-jawed narrowly in slow dealings.

Closing оп

11 note of sleadiness the list Onished 1 lo

4 points higher. Opening prices off 1 to 5 points New wêre

Page I

Japan To Improve Quality Of Exports To United States

By JOHN MORKA

New York, Sept. 18.

A leading Japanese trade expert today

contract cleas today unchanged Orices elosed up 3 to 5 pants, assured American businessmen that a cornerstone of Japan's export policy vis-a-vis United States is to expand its trade "with A minimum" of dislocation to American industry.

Closing prices:

Sept.

33.00

Dec

The ex points lower to 80 points higher with sales of 210 contracts.

Sept

contract closed 10

22.03

32.85

32.10

Nov

כד 11

Traders marked time await- Meanwhile mg new incentives. aclivity centred on adjustments October delivery anti- in Alz cipating Arst notice day al Monday.

centrul what

Accordingly, he said, Japan's !stopa 找你 future polley will move intre Idofrimenti to the industry." Mockwete hedge selling an The 'and more in the direction

He conceded that the new Cuent PLOTE ditivenes diversibent.an

apitomiring | emphasis on quality controls The

might man itensive | Gamlity kept prices

some export loses Tricin time, Jocrquee.t

Nogamara. mannging to "Japan particularly in the inred

{ Jap printed directe offering

External cheaper Hems—bil, he added. goth, in

Trade Recovery

Ciegatubation"in the long run, we will news of the rapid expans worn and

conference that buble to carn more dollars." herved operativas.

such differences that did exist

the

October liquidation was taken ap by brade, particularly ages forward.

JAS

Mul

May

July

Sein

30 70 30 19

Standard

contract clused 10 points lower to 5 points highe with mies of 33 contracts.

Sept

33 63

32 63

Dec

31 73

Mar

30

Muy

July

30 60

30.00

Sep!

Términal

business

3,540 lules

ended on

Govertument

market

|

Lles, the

$942-

Goodwill

he

He said that he had found a along reservoir of goodwill

gone

է

bre

over the rising the of Japanese exports to the United State radably, textiles "eun be re solved through an exchange of Open October emtræets jodey opinion on both sides." totalled 179,200

He urged Japanese exporters among American consumers and certificated tock remained al and manufacturers intent on | LusinessMEN toward Japanese

their

has American products. Japan developing markeis to

tamr

long way" in obviating the idea gear

thet wth a full under- grammes

Japanese products ༢།

with peor quality, standing

the American synonymoUS

he said. situatia

Commenting on opposition to Japanese textiles in southern stales which now requiro merchants to post signs whom they handle Japanese Lextiles. Nagamura said: "Naturally, we don't feel happy about the

tuation. aran

However. It has had no direct influence on our ex- parts do the United States or to other countries.”—United Press.

steadiness A note of

crop weekly following earlier unsettlement.

Futury suici warm sunny Buying credited to commission

weather

with above norinal houses and the trade bolstered

favoured! rapid while traders continued temperatures. prices

harvesting in the main belt this lo await

Suez developments. 10

Iri Texas, harvest 1s Lower Landon-Singapore cables week

widespread,

the except factors, were early upsetting News that latest advances in the southern areas where it is Bnish- willed. in the fur soulhwest, warn use of synthetic rubber

weather lasen the need for natural rub- | sunny

favoarekik for rolton, the report ber also attracted attention

added

wins

very

Government Support

Nagara 13 en route Tokyo after several weeks in the Canada He United States and

Canadian revent attended the National Exhibition at Teente. The Japan External Trade Re- Open interval : covery. Os genialión, krown us

170,300

JETRO, was established in 1951 589,100

with government support

1 ľ Jupatwese foreign trade.

1 the delivered market, fae- tury business continued stoww, In Mouth the shipment market, offerings Der were reported tuir but prices too high for local acceptances. Spot May No 1 Rss was quoted nominally 33 cents a pound.

SINGAPORE

O't

Volume 4,000

11.100

Mai

11.600

$3,800

13,000

2:36 600

the

July

5,200

210,00

Get

1.700

Der

2,700

Маг

Total

300 40.200

NEW YORK

Was

quare

The market opened lower on tons.

overseas advices but steadied on The smelters use large quan- trude buying later in the day. tities of

ira SOPP

producing There

demand for good aluminium soczy

which lower grades but factory inter-

eals were quiet in Egypt's used by foundries, "A sharp decline

No recommendation United sulca uf States which began in 1955 was made by the BDSA until other ul the industry have reflected in a 43.3 per cent drap, sections

mid- to the been heard, probably by

the BOSA Egypt's total exports

six September-after United States in the first months of 1055 from the corre- makes its recommendation to the I spending period of 1955." the re-Commerce Secretary.

ન કયું.

During the same period, Egypt 4111⁄2 increased

1ช purchases 5244

by 82.2 Koods 731.

American

135 cent. Its principal imports from So, thus country were automedika

DEFENCE DECISION

The recommendation will be torwarded to Defence Mobiliser Mr Arthur Flemming who will make a decision.

מאז,הנן

41,400

904

15 400 iden

for

ስድ

developing New York Sugar

Market

He cited volumery quels con- trols which Japanese exporters have imposed on certain wearing apparel and textiles as an i

Prices of futures closest tinter dieation of Japan's good Inten day elesed unchanged to 2 polnis

NEW ORLEANS

34.400

34 TO

יד :

New York, Sept. 18. World No. 4 sugar futures to- tion toward the United Stoles.

of two (CT)^ higher with sales The sentiment for voluntary i tracts. coolul is strongly imbedded in

The domestic No. 6 ruger Jupan day," he said.

futures closed unchanged with The

voluntarily present

Zaks at 22 contracts. Futures: will be imposed controls.

Contract No. 4 (world) effect for some time." he said. Best Potential

Prices of Itures closed today dollur earnings, Nagamura

as follows

Spot

Oct

I

will 1

Dec

No.

Future closings were:

Oct 1 rubber per b

9326-934 Nov. 03.03

Min

May

July

Dee

No. 2 rubber pet b No 3

unquoted Oct. 911-02

Пе

Dre

10-

Atar

No 4

B7-86

Spot rubber untiest

93-937

Blanket crepe

74-70

No

1 pale crepe

120-27

As follows

LONDON

Spot

The market was quiet with spot quoted at 29% 19. Prices: No 1 Has spot

Ch

pence per

11

Mar

May

20-291.

Juls

Settlement' house tenn

Ou

O¢l, Nov

20-20

Dec

20%-287.

Mar

Dec.

2015-2811

Oct./Dec

284-28

ล 24,000-

Jan./Mat

2714-212

to 11,000

Apr/Juin

July,Sept

2016-20 25

General markets, ell basis, ports:

Sept.

2714-273

Nov

Oct.

271-27 27-2714

Estate crepe this Oct thick Oct

AMSTERDAM

25 35

The smellers also recommend- parts, that no aluminium be called

stockpile i Gavemment for the Pranes,

months of lextile machinery, iron and strei | during the first six

1957. The just call made by the sheets, tallow and wheal.

fourth Goverment was in the

High Tempo

nax Molybdenum Colgate-Palmolive Co

commercial Credit

Commonwealth Elec

40 414

ispare

paris,

engine

Cumulidated Edon Continental Oil at Del Crane Co

401

Iructors,

excuvalor

120

35

Arown ZeHerbuch

X

0145

Dupont de Nemours

2001

Eastman Kolak

HP

El Paso National Gam

Mr Halloazení

Family France Corp

General Elcene su General Minutes

301

Improve-

which

Hard To Find

Gainers were hard to find in the 1st. Those that appeared fractional sported Dents for the must puurt.

Owen-Illinois

Glass,

will merge with Nailono), Con- tainer Co,, was down more than

Ford Motor

| General Motors

Gen Pub. Ulal

Getty Oil

sicherra Co

Goodrich C

tonyear Tyre

even Chemical

4 points. International PaperBomstake Mining Co.

I almost 3 and Douglas Air- craft almost 2.

Gulf featured the alls with a tipe of mere. Texas Co. lost a point and Continental Oil more than 1 Royal Dutch, Cities Service, Standard O} {NJ) ord

numercus down fractionally.

chers

tuge boll-Rand

inlon Sleel C

Interchemical Corp.

ist Business Machines

Int'l Harvester

Internallunni Nickel

International Paper

in Tel fi Tel.

| John-Manville Co

The report said Egypt's "high

of industrial tempu continued during the

activity secund 11⁄2' quarter of the year, construction 471 pontinued to expand and plan-

Cing for now industrid expan 35% mon was accelerated.

FERT

463

Egyptian price

]u*s!}b! ! {

slightly during April, May and 1

th June. the Department

partly because of the seven per cent import duly on whost all and

35% imports imposed last year

a new one per cent duty estab- 11Plished in April-United Press.

دان

اح

Kansas Power & Light

41

Kendell Copper

133

were

| Liggett Meyers To Co

BU

1kterd Alterat

Louisville & Nashville K Menata Trom Corp

A total 9 stocks hit new lows for the year, white only reven wuched now highs.

Of the 1.153 issues traded, 682 declined and 225 udvanced,

Sales today of 2.200,000 shares compared with 1,040,000 shares yesterday.

Exchange New York Steck bond volume was $3,020,000.

Stock American volume was 830,000 shares,

Dow-Jones eloning

WOIC

30 industriais

2) rulla

15 utilities

68 stocka

45 bonde

Comm. future price index

Comin, epot prive index Moody's index

Lotwa loop

Lone Star Cement C

Minnesota Minini Misalon Development Monsanto Cheusical 20 Montgomery Ward Motorola hue. National Coah Reg "A National Dairy Prod National Lead

National Steel Corp New York Centrai

Olin Mathieson

Olis Elevators Owen-llinula Glass

Pacific Gas & Elec

Exchange Pan Anierican Airways

Paramount Pictures

Packe Dayla Co

averages

Penny J. C.

Penn, Hall Cu

Philip Morrla

493.45

Procter & Gambio Ca.

107.70

Pittsburgh Plate Glas

07.70

Publickor Industries

173,00

Pure Oil

92.47

Radio Corporation

Closing Prices

Alden Inc. Acy.

Allled Chemicals Allied Mills Inc. Allis Chalmare American Airline American Cable & Radio

Corp.

American Cyanamide Co. Ainer, & Forg, Power Am. Mech,da F Ury, American Metal American Binelling American Tol & Tel American Tou, "n" Andconds Copper. Atmos Steel ' Atlas Cond. Mining Bejowin-Lima-limen. Baltimore & Ohio

ATHUGAYEation Corp. Fandort. Cone. Bethlehem Re

Josina Airplane

Morden. (They do, maka Kurroughs Add Machine ........

101.31 Republic Steel

Reynolds Metal

104.88 50411 Oil Co. 427 00

Baint Reg. Paper Sinclair Oil

Bocony Mobiloi

Saul Puerto Rico Bugar Southern National Ga Bouthern Railway (Com.) Standard Brands

#10% Standard Oil of Cal. 10034 Standard Oft of Ind

Standard Oll of NJ,

334 Sleep Rock

2214 Sterling Drug Co.

Blokely Vnn Camp, Studebaker-Packard Corp.

192.

49

7412

422:

CO

MERCURY

PACKAGING

two

quarter of 1955 when

to call was reduced

tons. In the quarter before that no call was issued,

During the first half of 1955 125.000 the Governient tock tuns out of a scheduled 200,000 tons. No cells are scheduled for this year. China Mall Speekvl.

Successful Synthetic Truck Tyres

Akron, Sept. 18.

The United States Army ha completed sucecratul tests un all

truck tyre) sthetic military Rade 1. L new swithztic muterial called "coral" develop-

d by Firestone Tyre and Rub- ber Company.

The

new synthetic is clabned

to have all essential properties

of natural rubber.

S. Firestone.

The sloudy. guilders

Inarket We quietly Priets closed today in per kilowaren, vit Oct.

PR follows: No. 1 rubber No. 2 rubber No No

3 rubber

I crepe

1.84 buyers

2,00 buyers 256 buyers

3,40 nom.

United Press.

New York Foreign Exchange

New York, Sept. 10, Closing rules were: Canada

England-official

++

$1,02-29/61 2.707/10 2.7731

Old contrmel

Oct/Nav

May July

Spot-ternt per ib. fob Cuba

Contract No. 0

32 50

42 43

Sp

In order

incrense

their

sald Nov

3282

370

3933 03-61

Japanese manufacturers government officials realise that

"increase our Sept the only way to trade is to stress high quality of Nov. our exports" market.

Mar and

May July

to the American Spot-cents per In

34.77

32 14

32 54

32 43

2.1

2003

programme.

Japanese

heavy

1

P: lees

blouse

Cet NEV

Dre attack

Jac

Ma

11.04

11.75

11.20

13.33

United Press.

LIVERPOOL

Futur closings, in pence per b. were as follows.

The United States, he said. ffers the best potential for ex- panding Japanese exports, but. he added, this market can be tepped only with greater diver- sincation and improved quality.

Не

that as part of predicted the diversification

envisioned under the

24 62 exports-under

ax-duty!

cl NY

United Press.

CHICAGO LARD

FUTURES

Chicago, Sept. 18. of lard futures closed

- today in cents per lb. as follows;

24.80 from American textile groups- 2404 will be upgraded both as

244 quality and price.

This doesn't mean that there 2+ will no longer

24 AS

24.02

iniled Press

be any dollar

blouses," he Bald. "But the

30 Do general tendency will be in the direction of better and of course | more expensive blouses. No legal pation can be taken against dollar blouse exporters. but we facturers will voluntarily

NAMESAKES

Answer:-1 Judgement, Oratorio, 3 Musle, Vienna, 5 7 Har- Leipzig. 8 Orchestra, mony,

SCIONE, Symphony,

CHICAGO GRAIN probably find that manu- 10 Conduct, i1 Creation.

take

Joseph Haydn (the composer).

May/June-

Decal

Mar/Apr

July/AuR

New cunicaci

Oct/Nov

May/June

July/Aug

Dec/Jan

Mar/Apr

Egyptian Kamak

Del /Nov

230

MARKET

Chicago, Sept. 18,

mostly

An

wtre

Crain futures lower in an active session the Board of Trade today.

Soybeans, which made urge gains yesterday, attracted profit- 30-day futuren

were frag- 2.16-13/10 taking today and D0-day futures

2.23-13/18 tionally lower,

F

Australia New Zealand

Beypt

South Africa

Pakistan

2.77-15/32 1.78-27/32

2.0011

2009

2001

United Prem

London Foreign Exchange

Mr Harvey Hellerton, Sept. 18.

Chairman

India of the company, said Mercury is now being i

that "uccessful development of

synthetic packaged in polyethylene this

rubber may containers in

new eliminate the necessity of ex- sizes by the Bethehem pensive stockpiling of natural

Company In rubber in the United Sistas, Apparatus

experts tested large Army corporated in a small nine-heavy

on loaded duty tyres ounce package with dis-military vehletes over rough ter rain in extreme summer heat. large pensing tip and a

The performance met

or exceed 65 lbs bottle with plain

all military requirements. Firestone's pilot plant la now сар.

producing coral

coral rubber in ex- range of

quantities. Intra-red This extends the

perimental containers in and X-ray analysce have shown polyethylene which pure mercury is obtain that coral rubber has essentially the same chemical composition as natural rubber-China Mall Special,

50 able to a line of five package

381 put out by the firm. The line now includes mercury In ning- ong and Bix ib bottes GL100, with dispensing tips and i

3776

59

35

10

21 and 05 lbs bottlon with plain 54 caps.

cd

LONDON METAL PRICES

London, Sept. 18. Clesing voter ware;

New York Montreal

Amsterdam

Brussels

2.78-8/36-9.783

Traders liquidated spot month commitments in preparation for expiretion of dealing in Septem- ber futures after tomorrow's close. All nearby grain contracts were down' as a result,

Wheat held about steady, down, corn, tyo and oats were with rye attracting proft-taking also after yesterday's Increme, Wheat closed off to up cent; coybeans up to off 2. cents.

Prices per bushel in ocnts:

2.7174-2.71-13/19

10.0356-10.0312

1302217-130-2744 Wheat, No. 2, ed

Copenhagena Frankfurt

10.3390/-19.34

Closing

11405-11.70

Spol

223in

Milen

176012-174335

Rept. 2011)" 222332

Par

DK.

22916-230

Stockholm Zuricli

16401-14.402?

Mar.

12.1044-13.101

May

Others were unchanged

July

United Press.

Corn, No. 2. yellow

Apot

Sept.

15034-131

Ded.

1931

322

1412

Bwill & Co.

44

TURA Co. Ken

London, Sept, 18. Prices of metals closed today.

NEW YORK METAL FUTURES

Mar

May

July

Rye

den.

"Tide" Water' Aun, Oil

4114 Union Carbide

Twenty Century Fox Tilm

26

114

40

est to manufacturers of hustru- lows: 201ments and electrical apparatur, 7915 The 65 lbs bottle is said to have Tup

problem of packaging solved the

Now York, Sept. 10, Prions of metal futures elogerk joday in cents per lb. as follows:

Dev,

Qalı

Sept.

Do.

Soybeans, No. 2, yellow

Epot

15.251)

49

Class-boulen month

J-month Spot

18.356

Spot

Bepl

Nov.

Jati,

Mar.

MAY

19.16

13.12 Barlez

apel

150-145

$10lb New York flour

NA

$18.50

tטר

175**

535 Union Pacino Railway

014 United Alterati

84 U.8. Folt D

175 UA Gypsumn

13%

40

UB. Lane Co.

8. Rubber

UB. Bmelting

341 08 Steel

111 | Warner Bros.

Weelinghouse. Electrio

WOHL VAU PUID & Paper

3056 | Woolworkh

Compactness of the nine- 563 ounce disposable bolilo is ex-

pected to be of particular Inter-in sterling per long ton pa fol-

pro meronty in an economy-Copper typo container,

are restricted to, aboist 25 lbs Lead and half

214, while opaque :-containers don t Dea

33%|| flaske or, fragile, ceraiple Juppies, zina znd half :

made adeétifite Inspection Im- |Bept. posible--Chiria Mall Special,

Deo.

Duyers sellers

001 803

United - Přeší,

13.18

TYPHOON MAP

with revised codes in force as from

1st April, 1956.

$5.00 MOUNTED

South China Morning Post Ltd.

HONG KONG & KOWLOON

$4°INMOUNTED

t