1956-10-11 — Page 9

TRADE

THE CHINA MAIL," THURSDAY, OCTOBER 11, 1956,~

and

COMMERCE

Japan Afraid Of European

Free Trade Area

DELEGATES WILL OUTLINE

CASE AGAINST COMMON MARKET AT GATT MEETING

By RALPH HARRIS

Washington, Oct. 10.

Japan is expected to offer strong resistance to plans to create a limited free trade area covering a potential market of 250,000,000 people in Western Europe.

The Japanes

the protsed

will be litud

agnesk: group exactly how Japan's ex-

But am Kikaltal Agreement

If

which

2:105 10W

Western Eur would be affected by the e- fish market project

pur dive

2.

CONSTANT

01

Trade (GATT).

C Genev

IN

1

tung

It

Japest wal likely that register sitong farmal objeel, m by describing it as having effect of creating an "er i 11

diseri umanating biark mar-snumbers of the schirm-

2-1

planatie somzees here

lidity

Wat Che plat

dawn by the nati

404

Fraue

the

md!

13 אייר

Men stra groups

West Chinway.

Netherlands, Laxembourg

Not Most Favoured

Diplomatic tourens

150g ure W776 enusing Bessed

The

here

1

*

יווי !

GOLD PRICE

WORLD COTTON MARKETS

New York, Oct. 10. Cotton futures closed today two polat higher to 6 points lower. The market opened up 1 to off points. New Orleans closed up 8 to 9 points lower.

Volume and open interest on the Exchange today were:

Volume Open interest

17,800

WORLD

RUBBER MARKETS

New York, Oct, 10. The No. 1 Rss rubber futures contract today closed 20 points

with sales higher contracta

December

of

two

$2.50

The rex contract closed 20 lo 35 points higher with sales of 144 contracts.

November January March

May

Month

Oct

1,900

Dec.

32,000

409.000

Mar

15.200

415,700

May

16,800

$73,300

July

Jdy

12,300

142.690

September

Chet

10,600

97,100

November

Dea

6.300 -.60,400

Mar.

1,600

1000

Total

31.84

รร มน

31.30

0:00

30.10

23.00

SECTION

US GRAIN

ESTIMATE

Washington, Oet, 10.

The US Archeulture Department today estimaledi the 1850 corn crop 8,309,102,000 bushela.

at

The corn forecast Just WAS 3.335,730,000 hela,

Dompared 3,610,000,000 bushels pro- Quoed

in 1948.

up

The Reporting Board estimated the 1956 wheat orop så 075,517,000 bushels

st

of 721,940,000 made bushels of winter wheat and 253,571.000 bushels of spring wheat. The winter wheat climate

PELIO MA last month when the crop

harvested. The

Pare

Austria Endeavouring To Safeguard Financial Stability

Vienna, Oct. 10.

Diverse business trends and price wage tension are the main characteristics of the present state of the Austrian economy, the Institute for Economic Research has said here in its latest monthly report. The report calls for effective measures to "safeguard the financial stability."

thun reported that schillings leas

the especially the before,

Prices continued to rise. still

The

The Institute many branches.

building

booming.

Industry, Others.

virtually spring compares with last month's forecasts

wheat estimate

year

of 244,028,000 bushels

farmors Lans harvested 3,241,536,000 of corn.-United

bushels

21,000 1,473,000 bales

LIVERPOOL

Future closings, in pence per

lb, were a follows:

Old contract

The standard contract closed

20 to 30 points higher with no sales reported.

December

I'ress.

September November

3235

31.50

31 10

50 60

20.10

29.00

Prices firmed in company 24.10 with London, but otherwise the elfuntion was quiet and feature-

less. Bigre of a reviving factory: interest in the delivered market added encouragement, but con Armation of actual sales to co sumers was locking. Altogether. most interest contred in the out- come of the final game of the I Iss world series, Spot No. was quoted

32% nominally centa,

March

May

Judy

Oct/Nov.

29.10

Dec/Jan

ક્રમ

New contract

Mar/Apr. May/June July/Aug. Oct/Nov Dac./Ja Mar/Apr.

24.06 2478

25.58 25.01

74.85

May/June

3479

July/Aug

Egyptian Karnak Nov./Dec

24 71 60.00

SAO PAULO

-

Д

15.list

in

է. -

Toronto, Oct. 10. The latest refusal of the Inter- year's US at this national Monetary Fund Mecting to raise the official price of gold has been less

In the US the average spl વર્ષ disappointment to

Sales www 33.21 prine Canadian gold producersalled 48,410 de as well as than

former

extend most a treatment

Fulwe

in cruzeiros closings. per kilo were as follows:

37.60

Cit

Doc

Mar

40.00

May

39,15

July

39 70

cs.

years,

KARACHI

deep any in of any Jiguati, movement towards a free fiel

reles, which beeved the scheine unight

serious effect on Japan's trade with the Continent

Fears Intensified

Japanese feats are bring tensilled by the disclosure

11-

that

strengthening

rut trade

iver

Britain examining the pusste billy political

area has also killed off Japan's hopes for the removal of dis- aderady Priminatory

14 GATT applied by

12 against Jamiese exports

When Japan was admitted t GATT Lt year The 14 ber's mcluding monwealth nations. Serve embels Feftised

at the Mess mining sources report.

Soldar y

fax red ration with Western Europe by pining Japanese-made gala the proposed free trade aces.

the hal understood Japanese delegation in the GATT

15

conference

to ascertain fram

bern

it was felt tunt mal eins pres paring to move wilo a er pumunta

were unitely sources market scheune

to agree to abandon this pesas i drudy The Messa ott Chino Maid Special

Wall Street Makes Last Minute

Strength

Show Of

New York, Oct. 10.

Stocks staged a surprising show of strength in the final minutes of trading today which boosted values of all listed shares close to 2 billion.

Steela, metals, chemicals, oils Pedanese Parga

.d motors featured the rise. Turnover today was sites to

the Anal tall bour

when

460,000-shore valune lifted the

Hola a the day

Fatarelal Corp Chime Maisha Bank

Euryale Motors Clusas Molybdendru ammereta) Predt Sombowenlth Nee

1,420.000 plated alon

shures from 1220,000 ye furday Continental Out of Del

Thr-year kry,

Incititul

sharply

with

their

Crane Cr

ForeCuben Adier Sugar

average

elimbing 15 points reflecting gains of 2% points in Bethlehem

US Steel; 1

in General

Sire], !,

Chrysler,

Motors.

לחץ כאן

Rail enins ranged to 1% points In Southern Railway, in New York Central, and their average climbed 14.

1,080 Issues Traded

There were 1,080 issue traded with 602 higher, 251 lower,

Moving up in steels along with Bethlehem and US Steel were: Young town Sheel & Tube, up Crucible Armeo and

Over 3, around 2 higher,

Metal shares had gains rang

ing to 5 points in Reynolds over

3 In Alcoa, more than 2

Kasiser Aluminium.

Darmond Alkali Dow Chemicals

Dipent de Nemours

Koduk

El Paso Nallottal Gus

Erie Radioasă

Family Funer Carp

Ford Mol

General Etretnie General Fo

General Muten-

Pub

Gen

Goodrich B

Heyden Chernies)

Bonitake Mining L'o

Jesland Steel Co

Interchemiend Corp

trit Business Macturies

Int'l Harvester International Nickel Int'l Tel & Tel Julva-Marwille to Kinnewidt Popper Lasterit Meyern” Tul Lockheed Airesult Lnews Inop

Lone Star ensent Co

Landisville & Nashville it

Lowenstein & Hong

It

Metabi Run Corp

Gulf climbed more tun 2 to Crescent Corp.. feature oils. however, fell

4 on realising after its five-for-one stock split been annonactment which had

discounted in recent seriomis.

New York Stock Exchage bond volume was $3,200,000.

American Stock Exchange volume was 040,000 shares.

Dow Jones

vere!

30 Industrials

20 rails

28 utilities

65 #tocks

40 bonds

closing averages

Comm. future price index Comm. apot price Index Moody's Index

Closing Prices

Alden Inc. Acy.

Milled Chemicals

Allied Mills Inc.

Allis Chalmers

American Airline'

American Cyanamide Co.

Miner & Foreign Power

Am Mach, & dry,

American Cable & Radio Corp.

American Metal American melting American Tel & American Toh.

Anaconda Copper Armour UDARAK, Atlas Con Minine Bakhitrea-Emers Baltimore & Ohio Bender Aviation Corgi, szechielem MAKE

Blowing Airplane kompen Burroughs Add Machine Canadian Pacific R......

GYN, Traator

Minne la Mining

Misia Development

Moremito Chensient Ca

Montgomery Ward

Motorola Ine National Car Rest "A" National Dairy Prod National Lead

New York "entral Olin Mathheatres

Ou Elevator

Owen Ubaota Gines

Pacific Gas & Elec,

Pan American Airways Paramount Pictures Penny J. C. Co. Fenn, Sall Co, Philip Morin 487.24 Procter & Gamble Co. 109.48 Pittsburgh Plato Glass 66.30 Publieker IndustrĪCE 172.00 Pure Dil

17

52. 74'.

724.

RE.

15.

have

Cu it waDO

16.00

en-

SINGAPORE

HONGKONG STOCK EXCHANGE

arc

yenr

Out such as the of 83 kinds of goods contained index of Automotive, chemical and elee- in the cost-of-living tric Industries, have been forced the Institute, 28 became to curb production and to dis-expensive and only seven

caine cheaper. miss workers.

The cost of living index mid-August was 2.8 per cent higher than in mid-Augiest, TUNS,

ay be judged,

wage tensions

more be

it

Weekly net wages In Vienna were 13 per cant higher 201 July 1958 than in July 1955.

Boom Period

It is said that these signs of weakness probably result from gradual saturation cf the market or a shift la demand. The conspicuous recess orders in the field of capital goods production, however, may Indicate a decline to economie activity on a broad front; but. outlook

of however the economie

In the period

Peonopic the slight present price- expansion,

upward may

at uny rate trend of prices stimulated pro

the d- necessitate effective measures to durtita end tell tale) safeguard financial stability Injustment of domestic pries Austria.

the world market level.

In a buum period, however. dangerou price increases because they lose their sthnulni- Bw incas done on the Hong-

ing effects in production. Under Stock kong

this Exchange

Industrial production in these circumstance. It appears

four Was morning amounted to approxi- | second quarter

necessary to re-introduce cau- Noon quota cent higher than in the corre- mately $410,000,

tious noney and eredu polleles, The Institute recommended tions and the morning's lean-sponding period of 1955.

The situation in the basic in its report-China Mall Special.

bul dustries is still favourable, production has been increasing only slowly beenuse of a lar of capac!- reaching utilisation lies.

(From Our Correspondant)

The market gased after open-actions: ing un come Federation selling, bul when this had been absorbed it steadied on trado BANKS demand.

There was good enquiry for low grades but sellers were re- scrved and only small business Lunbard

SHOPPING Was dece Prices in Strats Wheelbeks cents per lb., Dob Malayan ports were as follows:

Sharea

Buyers Relters

Balen

NK Bank INSURANCES USH

1030 1040

20 st 1000

001000

42

10 Ks. Ere.

K Whart Dock

Provident

8.03 0.10

14 45). 13.90

GOD + 100

100 DG

No. 1 Re

LAND, ETC.

Oct.

15.40

Nov

043

000 00 6435

18/3

Dec.

78

No. 1 Rs Oct.

No. 3 Rs Oct

1,323

10

No. Ras Oct.

1.53 12,000 4, 180

10.000

naw RA

80

Spot rubber unbaked

1244-2

1.50 1.00

-United Prem.

Blanket grepe ...

73-70

UTILITIES

No. 1 pale crede

113-117

Tram

23.00 23.00

300

LONDON

Star Ferry Yaumati

142

144 100

23.70 141

110

The market was fully steady been The

produces

well supported by making IT

Civersity

by local mills operations to strengthen extensive fixings

Hul industry wing to their short stocks and positions

Foreign still lateness of crop. say that many believe that eventuallyquiry was absent excepting occ:- onal deals with Jugan. Prices the price will be boosted,

In rupees per maund are us ahead with They are going their xploration and develop follows.

programmes, and several mines are being prepared Some pto- production ducers are doing so well, in satile ouseTUA

new

fr

fact,

that

believe they are ready to in-

croase their

dividends. These

firme re those, which have

4-F Sind roller gi 239-Bind roller in

raw gin 210-Pubjab roller gin

pared their casty of roduction CHICAGO

by employing labour-saving

devices to improve proti ma

17 .

other

OTHER FIELDS

heids

Борь

Grain

GRAIN

MARKET

futures

0144-1

019-911

unqucted 9054-90% 821-83 0611-60

HK Hute! IK Land Beulty

RUBBER

Amote.

The market was quiet with spot down 1/18th to 20% pencu per lb. No. 1 Ass spot was quoted at 20% to 20% pence. Settlement house term:

Nov. Dec.

Jan./Mar.

Apr/June

of

Chicago, Oct, 10.

prices were However, most e mpanies inves

operations in mostly lower on the Board

Ker Trade today during quiet deal- well. extended their Addison Gold Mines, for exam- ings. ple, has expanded its operations * that its chenings are well over The della per share mark. The pany has been suggested as

the

of those which may be able to make their dividends.

Dane Mms is also favoured

This com quarters, has a first grade gold Dally

Red Lake, jarostnevn Ontario, area and her also ex- panded into oll and base metals. 033 Hollinger Gold Mines is now

Having a gʊxt portion of canings from sidiaria

ل النشر

199

July/Sept.

General markets, cit bonis

Oct

NOY.

Dec.

а

Batote crepe thin Oct. thick

TC-

Wheat futures maintained near steady tone during most of the session on buying influence un continued dry weather

Krum the southwestern wheat belt,

no fresh exporta were reported.

Exporters sald, however, that they were awaiting word from of more than Greece on offerts 2,000,000 bushels of US wheat.

Hedging h

profit-taking lion

shortly soybeans northern appeared in cested In

Al the start, Quebec, and higher dividends after the opening.

credited to firm- are believed likely.--China Mall buying was

nests in soybean oil, 310 Special,

3.1

201

271

Li

CANADIAN

POLICIES OUTDATED

Quebec, Oct. 10.

Canada's international

trade policies and controls

over

and

Wheat closed up to 1 cent; soybeans up to 1% cents. Prices per bushel in cS;

Closing prices

22410

Wheat, No. 2, red

Spot

Der, 220) 225

AMSTERDAM

4

C. Light (0) 4.00 23.20

C. Light (N) 24.20 Electric

Macau E Telephone 2016-201 (0) ......

2611-20-% INDUSTRIALS

2012-2074

2014-20Cement

233-220

..

Itape ports: STORES, ETC. 203-20%Dalry XD.. 2016-20 Watson 2014-20% COTTONS

Nanyang INVESTMENTH Allked

347&

32

321.

9.20

23 23.20

24

38

30

13.20

16.50 15.80

T 45.75

Second Quarter

In the retail trade,

rurge

per

Bre

NAMESAKES

in

Aloween: 1 Verse. 2 Paris, 3 the City, 4 Romantic,

the up-

maleel ni

of sales beginning of the year has slow- Hiernan, ed down along with the lower | Boulevard, increase in the social product.

The balance of payments has

1200 13:10 improved

1000

500 R 25

1500 47 30

considerably,

national bank's net reserve)

gold and foreign

August amounted

million schillings.

the

10

5 Orray.

0

7

Hunchback,

13

! Tragedy,

10

Montmartre.

Vjetor Hugo

in

Wherever

10,000

currency to 1,300 mililor.

more than at the beginning of 325the year.

14 14.40 1500 14.20

7.00 1.33

A

1500) $7.50

The market was quiet. Prices New York Foreign

closed today in guilderS kilogram, elt Oct as follows:

No. nublar

No. 2 rubber

No. 3 rubber

No. 1 crepe

per

2.00 buyers

2.62 buyers

253 buyers

337 buyers

-United Press

London Stocks

Unable To

Hold Strength

Exchange

New York, Oct. 10. Closing rates were: Canada

England omcial

41

New Zealand Fouth Africa india Pakistan

91.02 2.78

Improvement

The favourable development of exports accounted for an im- provement of the trade balance. The foreign trade deficit in the second quarter was 232 million

New York Sugar Market

New York, Oct. 10. World No 4 suger futures to- day closed unchanged to 2 poltats lower with sales of six contraçin,

Domestic No B sugar Natures to one poin! closed unchanged higher with sales of 98 contracts.

30-day futuZON 20-day futures

World futures cased slightly with the raw market. Traders contracts awaited in domestic

market develop- 2.71-1/16 further 2.71-1/13ments.

2.771% 2.71

Contract No. 4 (world)

2000

Mar

1.23

2002

May

United Prem

Jelly

Sept

Bpot-teents per lb. tob Cuba)

London Foreign

Contract No. 6

Nov.

Feb,

Exchange

Mar

May

4.37

July

London, Oct, 10.

Sept.

A.GL

Nov.

Closing rates were:

2.781-278

Bpoi-fcents per . clf NY

ex-duty;

2.71-2.714%

10.635-10.63%

139,60-130.62

80,00-80.10

New York Montreal

London, Oct. 10. Stocks failed to muster Amsterdam

Mar

May

July

Sept,

229

Corn, No. 2, yellow

Spot

Dec.

131-132 1301-1

Mior

1400

any

May

143f

July

1451)

Sept

14441

15215

150%-

1scribed today as outdated Rye

3422

424 Manufacturers

物

173

He said the knit goods indus

Canada continued

40 creasing Imports from Britain.

Brussels

sustained strength Frankfurt and closed mixed on the Lisbon London Exchange today.

Milan Onko Paris

Olls were higher, pacer by Brockholm

Dutch

with a 'gain of Zurich

Royat

leaders about

Other were up one to three shillings in active dealings.

21.70%-10.70

1753-1754 19.00-10.905%

0333-9623 34.4013-14.48 12.336-12.231% United Press,

British Governments also NEW YORK METAL|

243-238 managed an advance-most of it

coming in the forenoon. War

Loan wos highlight, adding more than 2%.

FUTURES

New York, Oct, 10.

Prices of metal futures closed But industrial strarea moved today cs follows (in cents per narrowly and closed en un in-1b.); decisive

10.07 10.00b

importe

were

de-

Dec.

插

by Mr J. H. Heon, Pre-

Mar

103!

386sident of the Canadian Woollen and Knit Goods

On

Dee

Mar.

Associa .

Boybeans, No. 2, yellow

Spat

Notion.

Nov.

237-233

Jan.

Mar

84% Wy of

May

24744-248

304 suffer under

40

414 Japanose

Bat Canadian

the pressure

that and imports

wool producers of Bcloth were concerned about in-

of

July

24814

Barley,

Spot

130-143

New York four

200 lb. ck

$13.207

38

in

WINNIPEG GRAIN PRICES

84.

knitted

20

tically

Prices of grain futures closed

note. Some buying helped electrical issues pushed Load ahead, but changes elsewhere in were held to a few ponce either

Oct

Nov.

Oct.

BindAlr

40% whic

way

Zine

Nov. Oct.

Booony Mabliol

Bouth Puerto Rigo Sugar

28

per cent of the Canadian market

Foreign bonds also were idle, Copper Del. although speculation in Greck

Nov.

tvilted Press.

22

Southern Railway (Com)

Bleep Rock (Toronicex.)

21

1951, Mr Hoon Bald.

Oct

2276

Standard Brands

3730

| Standard Oil of Cal,

48

He spoke to 250 delegates of

and Knit the Woolien

Dee

791%

May

Goods

July

"

Rubber and to sherce" were neglected.

Standard Oil of. Ind.

72 annual

Manufacturers Association at its

conference hero.

Dollar stocks were marked

Rye

down in line with latest Wall

-Oct.

Street Kyela.---United Press.

281

Reuter.

Dec.

May

0031

July

Barley

Dee

Radio Corporation Republie Bleet 102.76 Reynolda Metal 410.40

boll Oll Co...

Paper

Saint

18 Southern National Cas

Standard Oil of NJ.

Sterling. Drug Co.

Budebaker-Packard Corp.

2 Bwitt & Co.

100% Texas CK TO

*} {Tide Water Ain, 01

8014

gwenly Century Fox Film

Union Carbide ...... 171 Union Facing Rellway

13% United Aircraft

50% 1.8. Poul

1.8. Gypsum 10795 Line Co

344. Rubber

ÜB. Breking 3414 W Pulp & Paper,

Woolworth

Canada had been

wiped out" by Japanese imports

Winnipeg, Oct. 10.

In the first half of this today in cents per bushel as

62 year British wool cloths held 40 follows:

compared with 30 per cent in Oats

Exchange Rates

unomical

wen done in the local excitatge markets Flaxseed

201 morning at the followig skies:==||

—United- Prsas...

U.B, deller (por. $1), Ptering notes, (pie#211 Aussian nolas: (per-ADRE

Indonesian rupiah (per 100) ... 1980

Button (pie(100)

bungapore (dizalia)

Dec.

seven per cents brought a gain] · of £1. མ་;

100.500

01.600 17.10b 15.07b

35.00b 34.855

LONDON METAL PRICES

London, Oct. 20. Prices of metals closed today LONDON SILVER in sterling pee long toned

follows:

PRICES

London

Tip spot

month Fend 1st

Oct 10: The price of liver was quoted Copper #pot today at 70% penco for

1994 | unach (4911⁄2 -- penca · Zőr: for

May

Wheat, No. 3,"aba No. 8 were

(against 2016 and 19 penca Zing 1st half

storday),#Uniună, Prém.

buyers Belleri

United Prea

you're going...

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