1957-04-29 — Page 9

THE CHINA MAIL, MONDAY, APRIL 29, 1957.

Pago 9

TRADE and COMMERCE SECTION

US WORLD TRADE FAIR HONGKONG

Asian Promotional Efforts Giving American Competitors New Ideas In Business

By JOHN MORKA

New York, Apr. 28. A hard-hitting promotional effort featuring attractive packaging and expert merchandising traditional with American business is helping fill the coffers of most of the 60 nations represented at the U.S. world trade fair.

This new emphasis on aggressive selling is the main reason for the $1,000,000,000 the 3,000 exhibitors will chalk up by Saturday when the fair completes its two-week run.

by

at

7001

Uslig Jatent promotional | while Chrysler's first quarter i siło industry fari becoming techniques, colourful displays, was estimated

unit company resigned to a 5.9 million movics, attractively - written leaders

than

year as in 1950-the American literature, European and Aston | $1,100,000,000, compared with consumer is showing no signs of exhibitors — among the biggest | 742 million, in the similar pertod pinching his dollars. In spite of

all the talk participants are giving Ameri- of 1956,

about a business can competitors some new ideas

alowdown, consumers will be spending more than ever this year.

in merchandising, according veterum observers.

Ети

Exhibits are well-staffed with

consumer

-

business, of new

་་

to observers. incurves

With

at

buyers

peak have

Little

Suez Canal

1143

its over-

Industrials Close

Firm On

London Market

By C. T. HALLINAN

London, Apr. 28.

STOCK EXCHANGE

(From Our Correspondent)

on the Hong-

Business done kong Stock Exchange this

RED SATELLITES

HUNGRY FOR WESTERN GOODS

By JOHN MORKA

New York, Apr. 28. Normalisation of trade between the morning amounted to approxd East and West would create vast new mately $410,000. Noon Quotmarkets for West German and Japanese

tions and the morning's octions:

Shares Buyer Rellers Jatea DANKS

248

*** 00711 97735 12 075

Stock markets had another short week Ba with only four trading days but that was n quiet enough to undo the previous week's SHIPPING handsome 3-points advance. Leading DOCKS, ETC. industrials closed almost-exactly where they stood a fortnight ago.

NEW YORK COTTON MARKET REVIEW

INSURANCES

Lombard Wheelocks K. Whert..

'ruvident LAND, ETC. HK Hotel HK La

7.43

2000 7

303 100 44 4ER 12.20 12.30 1000 12.30

دا من 300

lenses and photographic products, according to a West German manu- facturer.

Hans Joseph Schneider, President of the Joseph Schneider Optical Company, Bad Kreuznach, told the United Press' that the "Iron Curtain countries are hungry for Western products."

ali

China Eastern Europe, in the event

..

14.50 14.90 354 35.70

300 33

Communist

40 384

100 » 531

curteni

[rx] 1015

..... 1.375

1.40 1000 1.40

.LATY

J0000 1,55

tions on Heted, tremendous

30000 35

1000 GB 1,5%

embargoes and restric- East-West trade aro would

offer

market"

for all

kinds of Western products, in- cluding optical and photo- graphic ...... 2130 2131⁄2 2000 @ 21,90

equipment, |000 # 21,40 | accessories, he said,

UTILITIES Tram

and

PROSPECTORS'

LICENCES SUSPENDED

Somebody in authorily sent the government stockholder on to the floor on Monday and, by

it Realty brazenly listening to him,

RUBBER could be

learned that he

ne Amalg. belleved

in British Government | Trust" stocks and was investing in them some of the idle moncy held by the various government departments. Everybody rushed to follow his

Skor Ferry and example

Yaumati quotations for Old Consols and C. Light 10) War Loan rose 10 shillings in EX ALL. WILLIAM T. PLUNKETT no time at all.

This

rotained lis oxample

Macno Electric Divd. $1.20 for year after stopping off in New York President William S. Tubman New York, Apr. 28.

and 30-11-60 influence nearly all week kills of

closed

with handsome Telephone widening

11ses. The railway nationalisa

INDUSTRIALS weil-to-do Rope people who dislike government STORES. FTC

A

Electric

the

tion suck-not a very popular Cement

stuci with

those

100 103

18 10.40 28.00 29 1500 2830

400 1 1940

100

New York, Apr. 28.

Stop-Over

Schneider is

en route home

24.00 24.90

to take in the 500 24.00 500 24,80 World Trade Fair.

Liberia hs. United States of

suspended licences His

com-

temporarily of all dio-

miners

...

3214 21:

33

14.00 14.00 100 A 14,90 1000 14.80 113 11.70

469 4.70 4.10 1.23

17.20

4.30

4,00

According to a survey by the Texas Company's President, Augustus C. Long, warned that

U.S. News and World Report. salesmen and Information

sales in 1987 are running at a with the perung of the Suez to printed in English in attractive traffic the

company would rate of about 109 billions at brochures. New products-many

longer be withdrawing front present, with no important drop By of them being shown for the domestic inventories

in the offing. to keep

This compares Arst time

In the US. --have | Farrpe supplied. He foresees on with the record

sales retail feature. The been a big

vohune of 101.5 billion in 1958. Improvement in Eastern Hemi phasis on quality is tud

Consumers prevented tosphere crude production and in-

» mild attract a lot of

recession in 1854 from becom- dividing line between old ereased returns from

rafe serious by steady

of and new crop deliveries in This forer, the maga featured buying.

Amoy Can active more zine Onde, is evident again, as

ownership-was

bought cotton market last week.

and Dadry

... shows

of signs werken.

Resistance shown in neart, closed the week with a gain of

22/68. Old Consols gained 15 Watson in deliveries decline

contrasted

COTTONS in later shillings, War loan would have Textile kituntion manufacturing and in overthe wookening

gained even

more but it went NanyanĄ sty of factory workers suggests months as traders attempted to

Washington poli-ex-dividend on Friday which MISCELLANEOUS and adjust to the sales a levelling off in

Entert set the price back sharply. winda relating to farm

INVESTMENTS slight dip in sales, ticul possibly

Ypatazo administration de-

legislation However, it adklet,

"any

Allied Bank Rate car is ex- this

policy on future price support year eline In incomes pected to be small and to be levels.

ol

levels, American

Uplo

more

for

UT

willing to spend

stylish,

specially designed novelty type mer- chandise. The fair has aleg at trueled lot of tyer.

號

frum πότε remote elties, many of whom probably would not have been able to visit Europ Asia on buying trips.

Direct Contact

This direct contact

between

However, he added. he did not look โค increased income from Ba foreign affiliates to fully offset the decrease in domestic He told stockholders earnings. that the Suez Canal shutdown demonstrated that that waterway

again be never

com- pletely relied upon as a means by of moving Middle East oll tankers and pipeline, including

An anticipated

supertankers up to 84,000 dead-tied to a minor fraction weight tons.

the nation's familien. The vast majority will find their incomes staying high or laing."

With profit margitis sitpping the new trend in American in buyers and sellers will certainly dustry has been on cutting costs Ford's Arst automation,' boost sales for silka, woollens, vla

net

prof margins fruth

foodstuffs, children's

Women's

foods manufacturers are equally tributed by many

6.1 per cent a year ago is at-

117)

mac-

Kome

Spending

B

nerd

with

R

Prices at Friday's cluse ruled 78 pointa lower, or off one Ave cents to $3.00 a bale com- pared with the preceding week. The October, 1958, delivery, subjected to continuous pressure showed an aggregate loss of $5 a bale before the market levelled The retall picture is not unl-off Friday on week-end covering form, the magazine notes. Here's a technical reasons, how people's buying is chong- Trade proposals looking toward a liberalisation of production, marketing and price controls in Spending for these things 1958, almed st making cotton support.

with rayon, as a means of recapturing

dominated lint, cussion

aping:

fashions, quarter Durable climbed to 0.4 per cent garments.

to increased hopeful and have been particu

automation in the plant. larly well-represented with assortment of industrial

The tight money market hines, autos, machine tools, pears to be ensing

somewhat, among others.

although, to

Impercept- Ibly, Mortgage money for new Consensus is that European housing, according to a survey and Asian sales techniques by the Wall Street Journal, will evidenced in the many exhibits probably be less expensive and at the fair have hit a new high more readily available than ex- which should pay off in the long pansion lomits, tre slackening, run in a big increase in exports

thus adding

available to the United States.

credit stream. Banks meanwhile

in

going up: Food, liquor, automo- more competitive biles, gasoline and auto service. and

is

market dis-

ne

were

the

pany, employing 2,000 workers, mont prospector and

is among the largest suppliers until disputes over claims in a fold can be settled, 'according

of lenses and allied cut section of a Lola River diamond

in West Germany

is also a director of the German to reports reaching here. Industry Instituto

BA ail-

Liberlan Government officials industry trade organisation.

who arrived hero last week West German photographic from Monrovia, it was said, manufacturers would of courre reported that President Tubman 374 17.40 make a strong bid for any new had dispatched a small detach

markets in Eastern Europe and mont Communist China, he

Steel Flatware Imports

of troops to

said. He area.

offor the strongest competition

conceded that Japan would

Arthur

for any

patrol the

Sherman, director of Chinese business, but the Liberian Bureau of Mines

he was condent that West and Geology who is now in New German industry could retain York a9 a member of his

delegation its overall dominance.

States World Trade

that he

country's

10 the

had heard

from his

Communist Chins, he said, is United buying some photographic pro- Fair, said ducts in Europe through so- similar reports but that he had

official word eniled third party transactions, no His own firm, he added, sold government, less than 10,000 German marks worth to Eastern Europe in 1956 such business being complicated by currency payment complica

tions.

Not Large

The affected area COVETS about 60 square miles, according

to reports. It is believed to be

Live

centred in

Boind HIlls. Region, about 40 miles north- west of Monrovia and 20 miles north of Bomi

Chlef result of the govern- mcnt's manovre was 10 rovive talk of another reduction in the bank rate in the very

future, near

The Anancial weeklies

much pretty agreed that the 6 percent bank rate is going to be cut to 4 percent or

or 44 percent

rcent Very that

will shortly government a a lot of money,

Industrials received little Washington, Apr. 28.

The Tariff Commission The developments in Jordan caused uneasiness which has opened a formal in was increased by the spectacle Spending Lor these things foreign markets for American of the U. S. sixth fleet carrying vestigation of United States the "Eisenhower doctrine into imports of stainless steel

several flatware. centre of the trouble; disappointing PRICE SUPPORT

company reports

commission announced Russia itself is now celling that he did not believe that the Spending for these things is

reminded Agriculture Secretary Benson, perhaps the boom was over.

everybody that that it was acting on the peti- some equipment to its satellies, suspension would last very long, going down: Lumber, building addressing the American Cotton

tion of the Stainless Steel Flat- but the volume of this business] "otherwise, it might cripple out report rising savings. flecting materials and hardware.

"Blue chips closed the week ware Manufacturers Association does not appear to be large, he production."-United Press. Shippers Association, deplored tailed z levels of income and high-

"On the whole," it adds, "the the rollance on 114214

mostly around shilling of

English town, New Jersey, sald. Russia's

and jens price supports, this publis er interest rates. Just

remains in a buying and urged an expansion of the

Chict exceptions were

the who complained that imports of photographie Industries haven't nuri. Goods are not backing up market for raw cotton and a re-aucicar-powered

shares, like stainless

table knives, developed to the point

where seriously in the stores. Re-

telaxation

Cun-C. A Parsons and Reyrolle. forks and spoons were causing they of government

to offer con expect to sistance to

is not

remained is

which

"serious injury" to the domestic unaffected

serious competition to Japan lending into a buyers culice. The trois. But the Secretary said in-

creased allotments for

industry, cotton though a third one, Associated

and West Germany in world boom

The Association in its petition markets. consumers buying

cre unlikely despite recent sur Electrical Industries, lost 1/6d, lends strong support to bust-plus reductions.

its от disappointment with ness, though it no longer pro-

Subsequent buying in October, carnings, Imperial Chemical mises any big increase in orders besides being based on technical lost 2/3d, and Woolworths 1/Dd. placed with the factories.-

reaschs, was encouraged by con--United Press. United Press,

cem over the delayed new crop

Elsewhere

the States. bullish spurt in stock market highlighted week.

The

Dow-Jones

the

the

Industrial

to the

they

past week two savings banks in New York City announced they

Day 3/4 would

per cent on sav average during the first resings deposlis, compared with an per cent days of trading improved from almost universal 388,70 to 493,68 reflecting

being paid. So for there is no number of favourable develop indication that other banks will

move accordingly.

While the steel industry con- tinues to lag-because of the

ments.

One influence was the rise in the consumer

Index, Price higher for the seventh straight month during March, when i

rong, to 118.9 per cent of the 1947-48 average. This was 3.7 per cent higher than a year ago, and means

for a pay boost 1,200,000 workers of one 10 three cents an hour.

Another

Earnings

contributing factor

has been the many favourable earnings reports and special corporate developments of lead-

ing companies,

giant enterprises

6

General

levelling off: Furniture and appliances, clothing.

stil

Lukens Sensation

Street

On Wall

New York, Apr. 28.

By ELMER WALZER

especially

In

rain-

down

saturated areas of the southwest, Titanium Mining

and a belief that Congress would be inclined to resist any changes in the farm programen |that would tend to lower cotton

prices.

the

Off Florida Coast

March, the government owned The Union Carbide and Car-

Cotton under loan with Commodity Credit Corp, for the week ended on April 19 totalled 4,606,320 bales. At the end of

91

The stock market rise in progress for the last several weeks ran into trouble Motors, Ford, Texas Company, last

the Thursday when

industrial Youngstown Sheet and Tube Company. General Electric Com- average neared the 500-level where on Corporation and the Texas Con- several recent occasions it has attracted the

pany,

Westernhouse

Electric

pany. General Electric Com-selling, pany looks for a 15 per cent

sales boost this year. The quar Prices backed away

from point and Chrysler 3 points, terly return of Texas Company

their highs on Thursday and Bethlehem reported record sales 2311⁄2 was up

рет cent over the 1050 pace, thanks to the unpre-declined further on Friday. Eat for the first quarter and a rise major groups ahowed over a year ago in *proat. cedented demand for crude all both

week

on

the

on the

Construction of

The

sleci

Britain,

and

any

Sherman told United Pres

SAFANIYA

Russia, he under- OIL FIELD.

to the tariff body said that US stood, removed some German manufacturers of these knives, plants after the last war and is forks and spoons needed pro- now able to keep its satellite Dhabran, Saudi Arabia,

against imports from customers supplied with

Apr. 28. Bark, Sweden, Western Ger- nominal shipment

Oll has started spouting from many,

France and

Turning The

to

proposed the first off-shore development Japan.

European

common

market, in the

Middle East the But it was essentially against Schneider foresces an expand- Safaniya field in the Persian

vis to Japanese exports the

log market for West German Gulf 180 miles north of that the Association directed its

goods in photographic

the Dhahran, Arabian American Oll complaint. It sald that the integrated

Covering Co. market only means of obtaining "nde- soro 260 million

Initial people.

is 50,000 quato relief was the impost- "I do not believe, however, barrels daily with expansion to tion at impart quotas.

that the Japanese can expect 174,000 barrels daily scheduled The findings of the commission much business in this market, by mid-1958, according to are to be presented at a public since European manuracturers Aramco, a Middle East combine hearing on July 18 in Washing-

can be

to keep their of Standard Oil Co. - (New ton.

Standard Of Co, of. he said.

Texas

Co. and

low

hold WERE

the

major

ના ના પાના

has an of

Jersey)

California

New York, Apr. 28. controlled on estimated stock bon Corporation has announced of 9,708,000 bales against 13,300,- plans for mining Utanlum The Association's palition West Gaman manufacturers, 000 bales a year earlier, or 01

01 | minala on Amelia Island, elid the US manufacturers could which expert about 60 per cent Socony Mobil Oll Co.

of not competo against

of their photographic Industry The per cent of the total end-March about 30 miles northeast stock against 73 per cent last, Jacksonville

Florida | Japanese · wages and selling year. Distribution to end-March court.

prices. Japanese imports in 1956 production, are confident they Aramco's

"keep ahead of the yields processing increased to 5,022,220 dozen from Japanese, was about 4,000,000 bales ohead of last year due to sharply higher equipment will start scon and 421,470 dozen in 1953 and ac-petitor." Schneider naid, exports.

The greater distribution, plus ng is expected to begin in counted for 40 per cent of

tho

Moren domestic production, spring of 1958, Mr

Imports Some Headway increase in parity, could G. Dial, President, sald, Union from Japan and other countries bring an upward revision in the Carbide owns about 3,000 acres threatened to increase this year, loon to around the 1950 rate of on Amelia Island. 32.74 cents a pound for middling

The titanium-bearing minerals Mail Special cotton of one-inch, some quarter will be shipped to Electro reasons-Unlied Press.

Metallurgical Company, a' divi, sion of Union Carbido, at Ashtabula, Ohio, for production

with Chrysler had record first quarter The Bank Of France of utanium metal sponge. The

of

Statement

Company expecte to employ about 85

Amelia people on Jaland, working three shifts on

the

oil is heavier tham other crudes end #high

percentage of com-fuel oils.

Aramco placed the present cost of the Sataniya Beld at 21 million dollars, facilities Including a 140-mile 22-inch Ho sald the Japanese are pipeline to the Ras Tanuca Association said China making some headway in world Revery and shipping terminal. markets with lower-priced pro- Cost of the pipeline was placed ducts, and to

Home

extent at 11 million dollars.

Aramco said the Japeneso appear to be stressing quality

their cameras, For this tanker Nisyo Maru la scheduled reason, he added, German to loan the first shipment of Ras Tanuro manufacturers are keeping a Safaniya oil at

watch" on Japanese about May 5-United Press, competition.

Bchneider said he did not bolleyo

Japan could overcome US. RAW COTTON/ Singapore, Apr. 29. the head-start the German

EXPORTS Brokers today quoted the fol-Industry now enjoys in the fold

of

design and technical

in

Singapore Stock Market comp

He gaine to replace Middle East supplies cut off by the Suez Canal shut-industrials closing at 401.50 up sales, a 55 percent rise from a down. The Ford Motor Co. 3,47 points over the previous year

a dividend ago and the noted record sales for the first week in

Dow Jones $5.34

$1,25 0 share against

a seven-day-weak basis. quarler, scoring a 30 per cent average; rails 146.08 up 1:72 and last year.

Paris, Apr. 28. Urdon Carbida Ore Company, The big gainers were in the gain in earnings over the year- utilition 72.99 up 0.77.

The Bank of France statement in earlier exploratory drilling ago level,

A half dozen stocks accounted specials American Sugar up

si: for the week ended. April 18, on the Island, established lowing stock prices: along for 1.2 percent of the trading in 10; General Tyre up These

developments,

adequate

heavy reserves of the 13,412,720 shares turned National Lead up 8; Outboard reads as follows: with predictions that the money

minerale, Including Timenite, | Batu Lintang Nubber Co. 301,304,303,420 rutile, Total gold holdings.

zircon and monazite Bits Borneo

..Ltd, market may be easing and im ever-Bethlehem Steel, Chrysler, Marine up 174.

Lukona Steel,

***Petroleum Texas, Gulf, The small

the Total other cur- gain in proved prospects for steel pro-

19,277,265,483 China Mall Special.

Byndicate rencies were and Dow Jones Allegany

Sight balance abroad

Consolidated Tin Smelters00 duction later this year, all help Produggin

consequence in EPU

11,771,000,000

Ort. Fraser & Neave. Ltd Ord... 1240 noted that 048 Advance to Stabillag-

11,000,000,000

Traser & Noave 7% cum,

$4.00

ect impart a strengthening tone General Motors.

to overall business a cantiment.

Profila

seen aa

of

Laikens again was the sensa- when it was

trane

of General Motors tlon. That laue reached $110%, jesics of the 1,300 issues traded Total bili mounted 3000000 The Bank Of England

were off in the first quarter al- a record high.

though dollar volume improved,

permit

matching

There

Lin-

6GB Danic novel were

in cir culation ******* 3,063,374,497,095 Current pcosunts and

doponit ****sited Press.

203,030,800,040

declined, Eainers and 103 issues STOCKS SUSPENDED changed. During the week 216 Unit sales down nine per cent from year-aso levels. Earings The stock exchange, after stocks made now highs and 99 for the period were equal to 93 Lukens was suspended twice to made new lows. cents a share, comperat

with

of orders, The rise early in the week Exchange Rates $1.81 a shore in the similar 1958 cancelled atopa" in the issues was helped along by good

Beines way done in the look period. General Motors per- and the market for it became earnings reports many much formance was in sharp contrast more onterly although stil vary better than had been anticipated unificial to the increases, rolled up by petive, Lukens fell from $110% by favourable statements by moming at the

US dollar (per $1) giv Ford and Chrysler the other touched on Wednesday to a low corporation executives at armail Blecting sites (Par 41)

for the wook 488 14 on Friday, mooling and in some instances, sirian note Ape 21). members of the big three.

Förd

|notably optælled it clored at $89, up $1%.

Lukeha, by: Bhort Indonesian rupiah (per 10p).. kim tion (one) 100),anusia. $1,500,000,000 up, 30.0 per omnt. Bethlehem gained a towew; % | covering United Free,

market

Statement

** London, Apř. 28. The Bank of. England states

Opening

$3.05

abun arch, da

New York, Apr. 28, Raw cotion exports by destinä- "It takes years to create and tion as reported in bales by the tresor apprentices and an intensive New York Cotton Exchange for restarch programme aimed at

334 od developing new products and the 1856-57 season to April 23,

this is one field, where West were as followe

Dritain have the big Continent

Desent

Gummons (Malaya) Limited $10

Hongkong & Shanghai, Bank-

ing Corp. O Hongkong Tin Lid, ......** Kempas Ltd.

Kuala Kampar Tin 27

Lunas Rubber Estates låg. Malayan. Brewerianypo3

ment for the week ended April | New Berandah Rubber

24, redda as follows: 12 199

This

Noper in chroulation,

Publio deponija salain,

Private deposita

p

Government securities

Dihor - mAKELIUM

13.30

fceipts

Germana

The

advantage over the Japanese,

Canada

Total for sensont vilá

Germany. is therefore count- Bame period last year*

839,015

4,079

2,445.

jeg heavily on this hood-mert to faxcluding intera-United Press. keep ahead of the Japanese in the competition

märkets, he. added, Japan

NAMESAKES

for world

99.2 SZ.67

already Ings. behind T

Cermany In design, he said,"

Answers-1 Entrion, d'Acting,

$1.78

pointing out that Japanese

Monument, 4- Arqueimanty

$16

United PostDENTS: RE: 20071,996 Wparne “Brow

sterling

Petaling Tin £id. 1.903.219347 | Bamies Hotel ...

Singapore Cold Storage 270,287,300 Straits Trading.............

camera, appear to follow, the fire, & London, 7 Epectacle,

maits, putlines, and constriction Theatre, 3 Plogue, 16 Play, pattern of German models United Pres.

Siimus Pepys (Tho Di