1957-05-20 — Page 9

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Page

THE CHINA MAIK, MONDAY, MAY 20, 1957.

TRADE and COMMERCE SECTION

World Trade Week Celebration

DOMINANT ASPECT OF US

OUTLOOK IS EFFORT TO EXPAND MARKETS

By HARRY W, FRANTZ

Washington, May 19.

HONGKONG

STOCK EXCHANGE

Our Own Correspondent- Busincs done on the Hong-

song Stock Exchange this morning amounted

to approx on and the morning's transac

|mately $808,000. Noon quody

tions:

The United States will celebrate "World Trade Week" from May 19 to 25, at a time when there is great interest in countries around the globe in every potentiality for international commercial expansion.

Pursuant to a proclamation by President Eisenhower, civic and commercial organisations in many large cities in the United States will hold luncheons and other events intended to educate the public concerning Union XD the importance of international trade to the national economy.

Studen

..

BANKE ilk Bank INSURANCES

Lombard SHIPPING Wheelock DOCKS, ETC. The President broadened the highly competitive with United States but taking cars to avold R. Fr

manufacturers set any possiblity that the United Dock scope by his declaration that "in-States

autoinolive Industry Provident ternational commerce in all sexample,

to abandon flute!.. LAND, ETC. Italy and United might want Germany, aspects trude, travel and in-

the K Led.. support of Voalmont-la beneficial to the Kingdom are carefully exploring traditional

possibilities for greater liberal trade polley United community of notices and con- alt ducive to the establishment of automobile males in the United Press. a Jual and lasting peace in the world,"

Major Events

On

Associated with World Trade Week will be the celebration of "National Maritime Day" May 22, an annual event used by Marine organisations

iig = for cussions of maritime themes.

Major events of World Trade Wool will occur in New York. Philadelphia, Dotroft, Cincinnati, and San Francisco.

At New York, Governor Avorell Harriman of New York

American Investors

Get Better Break

In Philippines

New York, May 19.

American investors get a

and Governor Robert 1. Meyner break in the Philippines than elsewhere in

Sare are scheduled to address e World Trade Luncheon on May 20.

INACTIVE COTTON GREY GOODS COME TO LIFE

New York, May 19.

Analysts Say US Economy In A 'Lull'

New York, May 19.

There hasn't been a really significant change in the U.8. economie picture for more than a month and financial columnists and analysts finally got around last week to labelling it "The Lull."

"All in all," the Wall Street Journal summed up, "It may well be that the credit limitations resulting from the Federal Reserve Board's policies of the past year are having their effect.

The Worth Street cotton grey goods market, after months of inactivity, came to life with a rush last week when mill agents booked the biggest volume of business in more than eight months. Balce

Concentrating on print cloth yarn fabrics, "The money supply, for in- converters, chain store, mail order and other stance, is no larger than it was 4 year ago. Thus it is hardly buyers, entered engagements for the third and surprising that businesss itself, 1.40 4000 7.40 fourth quarters, with a spill-over demand generally speaking, is

extending into the first period of 1958. 170044 4421

Buyers Bellar

1040 1000

037!!

33

7.35

11043

1000

300 100

25 13.50 13.10 £3.53

15.40 13.60 2500

30.75

(11.00

Humphreys Reatty RUBIER

Amaly

Trint XD.

UTILITIES

*Train

Star Ferry.. Yaumati

10.30

5.478 1.60

Market analysts differed in 15% neimating tho

volume booked. 100 35.60 101 30.24 Some thought 75,000,000 yards 72311.00 would be a comervative figure. 1001 Olbers said tstimates would be *ruosework." They held to the ais Indefinite

100 g 11,00

-1.50 1.524 9000 e 150 millions of yards."

120 1.40 200

**

133

C. Llem (0) 1930

(R)

Electric Macao E Telephone

Exparium

器

1.25

1000 23.10

30

Compelled

The revival was not

unexpected.

1000 @ 1950 pletely

60049 1940

many

coin-

Earlier

500 1930 this month manufacturers th-

alated "a turn is at hand." They felt buyers would be compelled

31 1200 i 30.70

0.10

27 27.20

500 A 21

163 V 27 300 27.to 700 27.10

34 1024 kg 3311⁄2

to come back for several rencont

corumor

LONDON

MARKET REVIEW

By C. T. HALLINAN

London, May 19. Weekly markets

where it was a year ago,

about

"If these are the manifesta- tions of 悲 restrictive credit polley, they are mild enough tử catlafy most observers,”

The male soft spots-soft in the .senso of Industries noti operating at capacity or failing to live up to advance esikmates— were steal, autos, home con- struction, lead and zinc.

Situation

The current situation in thèse lines:

Stoel-product continued to ease, reaching the previous week ittho

1. Because extensive mill cut- in production backs

were tightening supplies; 2. The need closed with the Financial to replenish Inventories in the Times' index of British wholesale

supply Government stocks down pipeline; 3. Multiplying signs to 84.82, the lowest in that prices were on "rock- bottom" after a gradual down- ward drift. for over eight months.

1957.

better ope

an

Kwong S. H.

...

INDUSTRIALS Derrot

331 13 STORES, ETC Dalry

14.00 18 2050 A 15 500 15 Watson

11.00 12 Craw 27,90 13.30 300 28

8.900

101 135

4.05 4.724 8.00

18.40

1000 00S

Uppermost question weekend approached whether the buying

+

·6.40 .8.20

4.43

move

the Far East but still U.S. capital has been slow in reaching the islands, the Wall United Street Journal said today.

World

According to custom, Stotes

of observance Trade Week is chiefly on the non-official level, and devoted to educational *and promotional rapects of international com- merce.

In 1957, dramatic events have) given a broader complexion to the observance. In February exports reached nn all-time record of $2,120,000,000, herald- ing the possibility that inter- national trade may reach a level not dreamed of before the Second World War.

Keep Pace

The amazing increase in ex- port would, of course, be a cause for Jubilation in the United States, except for the fact that United States Imports volume muy no keep pace with the ex- part growth.

Mernwhile many

on

United

NY STOCK

MARKET

REVIEW:

BY ELMER WALZER

007

Daily devoled The Financial more than two columns to report from Manila by its correspondent, Henry Gemmill, on Philippine investment conditions.

I said the US. Invealous fact d certain frustrations in tho Fhilippines even though they were less servere than in other Aslan countries,

for Ins-

free

"The Philippines, tance,

is comparatively from the political instability of such lands as Indonesia, from the sterlle socialism of such

CANDIDATES

Tazule Nanyang

Entert | INVESTMENTS

Yangtze

Allied

MISCELLANEOUS

445

lowest, level · since the sumaney strikes in 1950. Out- was 2,220,000 tons, or 88.7 put per cent of capacity, but was expected to rebound this week to about 2.251,000 tons, or 87,9 per cent of capacity.

Autos sales continued season-

NEW

But it also closed with tho in- dex of leading industrials-the ably low, with the Industry

ita hopes tiptop industriala at pinning the really

207.4, the highest. It has reach-models to be out in the autumn. Wes

April sales were about $50,000 ed in 1957. movement

units an compared with $50,000 100 6 4.21)-would be sustained. Conserva—. Normally these

for March. The figure is ex- 1000 @ 3.25

tives wondered whether it was more or less together, for the pected to drop to about $42,000 "a furry after a long period of cheap money supply which de- for this month, dullness," ** whother the mands

Brilish Government demand would spread to other stocks also bends to demand

COAL OUTPUT fables. OF AUTHORITY INCREASED

the

Az-

two

PERSISTENT

Last October a big, exservative amounts of the top but short-lived, buying splurge racking industriale. developed just before the mills raised wages. Higher prices named for clotha at that time In the were gradually crased succeeding months of inactivity, Encouragement

on

take

Homes--work was begun on

than

GOLD SEARCH TO BE INTENSIFIED

Sydney, May 19.

The search for gold in Papua-New Guinea will be intensified in an ectory to lift production which has been falling steadily... · Io. the past few years, 10- sorter to Radio Australia.

The administration of the tertiory has increased the staff

mines of Ita Alviadors bo give a better technical service to mining companies and, protpectors. Geologists of the Bureau ok Mineral Resources have already started at Kainantu on the first staKO of a

of general suÏVOJ Papua-New Guinea.

0

The Minister for Terri tories, Mr Iasinck, hopes these measures will

the courage

search for gold, the development of new falds, and tho' In- troduction of new capital. -CHES Mall Spopiat,

WEEKLY NEW YORK COTTON MARKET

Oct.

1953

92,000 publis and private dwelling units last month, the lowest level for the month since 1949, although

Д showing seasonal lift of 11 per cent The selling of government i above March, Paradoxically, stocks was persistent except on; however, construction as a whole Tuesday. The railway nation was running at a satisfactorily sikation stock fell 25 shillings, high level, Industrial and public Strasbourg, May 19,

the 4 per cent funding an 20 building starts New York, May 19.

Coal output_per_man "in

shillings, Warloan 12/6d. and neutralising in dwellings. Stock's cleared

By WILLIAM T. PLUNKETT the countries as Indits, and from the collieries of the European | Weavers drow additional eh-Old Consols 10/..

deadly insistence encountered in

Metals-domestię zine prices 500-hurdle in the Dow Japan that natives must hold 51 Coal and Stest Pool High couragement from signs of

New York, May 19. demand for When alarmed customers de dropped another half-cent per in the industrial average per cent Janes

of the stock in new Authority increased by 9,5 plekup

fabrics, mand on explanation, brokers pound, bringing the price to Cotton futures climaxed a Lho front with inches to spare during enterprises"

page per cent between 1953 and heavyweight industrial

Sume fair-sized purchase tell them correctly-that the 11 cents per pound, East St week of quiet and in- the past week.

article sald.

1956, M. Rene Mayer, Pre developed

sateens and sciling comes from smal! in Louis, for the Prime Western decisive trading with a sident of the High broken twills as coaters covered vestors who want to switch into Grade. Uncertainty about con- The big jump came on Mon-

ncerts,

government pur-smart Friday rally when Optimistic re-fast-rising industrials. But this tlauanco In March Unljed | day after, top businessmen and

Authority, has said here.

nearby

does not tell us why the big in- | chases was responsible, Lead, nearby months rose to sea- States general imports were government officials puvdicted

In the same period output in porta from Detroit suggested

might extend their stitutional Investors, presented also involved, held at the 13sonal "highs. $1,118,000,000 barely more than 1957 would outrun 1950 in "This public, nbove all Britain remained stationary and coaters

if

orders with these astonishing bargains, cent price established last week,

The far-forward. exported half of the export total.

considers in Poland

buying On that day others in the orient,

it decreased by general business.

but was expected to ang further delivery aggod, meeting in- materialise from Proof that per cent, he said.

automobile do not grab them. The Industrial average gained steel pro-American

creased offerings because of un- observers 3,91 points and closed at 302.21.

One reason seems to be seri- popular sentiment docs run in M. Mayer was speaking at the makers.

Executives have commented

of the coll the

certainty over fale in- It remained above the friendly paths can be found in opening of the ordinary session dustrial tendency to gitate for

While Anished goods business ing. There is much talk on the

bank programme next year and with Д remainder of the week and the foot that even

of the Pool's Common Assembly

other farm legislation. curbs op some imporia com

Steel inthetry spokesmen at- some observers, ment of currencies, led by the expected by italy..

At Friday's close modities, notably petroleum and closed on Friday at 506.80 up 7.30 Pesidential campaign. In full representing France, Belgium, has not moved ahead as fast as continent of another realign-

the list sinceuwing not one of the half-dozen

West Germany, wool textiles. Congress has been points and a new high

operations to they did noto a recent improve. trunc, if that was really, wide-tributed logging candidates scrambling for elec alow to act on President Elsen Sept 7, 1956. Hails enjoyed a

ment in retail sales of moderate spread, like the one in 1947, tinued reduction in Invery ruled 32 points higher to seven and lion has thought it worthwhile Netherlands and Luxembour

In his report good market on Thursday

might on the

The folt con-thon Britain

atorics by ateci consumers, and points lower, or up $1.00 to off hower's request for

displayed little concern since the 35 cents a bale compared with States participaticn in the finished the wook at 147.85 up to advocate expropriation of the

heavy U.8. private investmentssembly's activities in 1050-57 M. priced cottons.

verters have been living off in modest cut in sterling. organisation for bude co-opera-0.85 and a new high since Feb. already installed here, estimated Mayor said that production per vantaries for a long time and

But it is conditional; on her inventory-cutting process must the preceding week.

Optinlație reports from the 4, 1950.

eventually end. tion which would Implement the

man-shift in the Pool's collieries at around 450 million." Geneva General Agreement on Utilities

the akt

week-end

The third quarter, they pre-drygoods trade spurred a cover- increased from 1,401 kilos, in are now in a good "open-to-buy own she would do nothing. Tarifts and Trade.

were at 74.28 up 0.82 and a new 11 said that Filipinos were 1053 to 1,020 in 1950. He said Poaltion"-United Press,

INDUSTRIALS

dleted, will see steel productioning movement on Friday. Worth Street millmen reported a broad back to norma) levels, Domkant aspect of the World high since Oct 7, 1930.

irritated and puzzled that more that the production index in the

revival of buying in paint cloths, industries in

Industrials showed lost Trade mulook is the Bolf- Tho Standard & Poors 500- help was not arriving from the steel processing

activity of creased by over 10 per cent in

substantial riscă. We may dis- Steels executives also pointed marking the first conscious effort by most of the stock index gained 0.50 point United States.

the same period.

miss as purely speculative the out that consumers are unlikely consequence since Just autumn, nations to expand their inter- which translates into a gain of

Some U.S. 2.2 blon. On the basis of this

Arms and

MANPOWER

/ jump in Channel Tunciato continue to ignore the likell- national markets.

MILD EFFECT Exchange of trade missions, exhibitions at index, the market is 2.50 points capitalists were said to have

on talle of being backed by the hood of steal prices rising at least M. Mayer also said that man- international fairs, and establish- or 11.4 billion under its all-time conceded that they realised "fat"

Earlier, trading. was marketi Old Suez Canal company-which 97 a ton on July 1. At that time has plenty of money but labour rates move up again by small alternativo railles and mant of trade promotion agencies record high set Inst Aug 2. The profits in the Philippines and power in the steel industry in- and 10 per cent

canal-and of being able, in under the terms of the three declines as traders become more characterise the

world all-time Industrial high was cot had converted a satisfactory erased by

cutput of raw stoc) by 43 per បព by the Dow Jones average portion into doilors,

couple of years, to draw hand-year contract with the steel confused over farm legislativo cent in the period. The

The Industry moves In

The some caring from an actual workers union, Illustrating his trend, the April 6, 1956, at 021.05.

tunnet xxxx the channel has already indicated it will not "Very likely potent U.S.crease in production per man in

House vete, to end the soil bank investors are too stubbom in the steel industry could be

Mona typical were the 3/- rises absorb the Increase.

after this year had a mild effect thinking that they, rather than Umated at 30 per cent, he arided.

In Marics and Spencer and Roll-

by Particularly upset

the since some traders supposed the government functionaries,

Herr Hans Furler, West Ger-

Rome, May. 10.

Royce and the 2/- improvemente automoblie situation was General Senate would support the ad best able to judge what ventures man President of the Assembly, The Italian gleelworker's

in Dunlops, Unilevers

Motors Corporation, whose share ministration on this and that the would contribute to the islands said there would be many dil trade unions have confirmed

many other,

40 plan wit bo retained, of the market slumped to culties to be faced in the re- their intention to stage a 24- cconomic development,"

Olio were strong, all woelt,

per cent in the first quarter Administration requested for alisation of the British and hour atriks on May 24 in mippari led by Royal Dutch which rose article said.

10 control design"

instead of its ususi 50 per cent discretionary power iden for a European

cotton price support, oven eften ur mort, Parliament incorporating all the of their demand for a 40-hour £1 to a new pook at £20%.

week.

British Petroleum gained neon-

surpluses are eliminated, prid to present European assembles.

k 14 hillings and Angio- The company is bringing out | make it more competitive with He said that after the rati-

At present Italian steel mon Egyptian "B" 11 shillings. Sholl an entirely new Chevrolet and syntheile fibres, also had a re- callum at the Euratom and the Common Market treaties, mem-work a 48-hour week. They are Transport rose ? wings and Pontian in the autumn and is staining effect on the mariçet, ber countries of the Coal and sucking the shorter working Burmah 4/0 Suez Canal, rose counting on these and increased but selling was curbed as doubla enica efforts to regain what. [1] acoso as to whether important Steel Community must concent week without a wage cut. The 15/- la £47%United Press.

has come to regard as its farm price legislation could be rale on strengthening the Com-Italian General Confederation of

normal market,-United Press.

onacted within the near futuro. before making any Industry has now officially re munity

Agriculture Scoretary eneral plans

Benson estimated world produc- Parliament,

The Community

in wha

The Flat Company of Taring

be tion of synthetic now to being associated with the Cam-recently, adopted the 40-hour monTM Market, he said, but no week-announced that it was agreements must be allowed to "partly" returning to a 48-hour affect the vigour and dynamism weds during the summer. of the "little six“, of Europe.--- China Mail Speciaă. China Mall Special

trend.

now

on a

+

move

are

the

United States World Trade Fair.

500-HURDLE held at New York from April 14-37 brought exhibits from 60

500-hurdle was When the. nations, with an estimated value cleared, the market set its sights of $300,000,000, It was attended

now record high and predicted this by 700,000 persons' and 124,700 many businessmen filed a registration would make it. There might be card with a view to Comer considerable resistance on the clal transactions during and way

was admitted up, I

I said tho central bank had after the event. The volume of especially around 509.

{devised д mathematical busines resulting from the Fair Sentiment on the market im-formula to determine how much was so great that it will be fe- proved markedly

during, the

of the profils can be exported. peated in 1958,

also was better to~ week. ward business in view of the The article said the Philippines predictions on second half gains. was "a long way from enjoying Some Improvement was noted a thoroughly froo economy."- In market volume but not United Press. The United States Lupidly enough to bring a three-million-

day. extends its policy of sending share

Sales averaged trade missionă la other countries 2,710,227 shares daily, against a

Trade Missions

for a

An-

C

STEELWORKERS TO GO ON STRIKE

European fused to modify working hours. The

of the world 1 dcuss the daily average of 2,413,570 in the U.S. RAW COTTON favour of a free exchange zone one of the two large arms which

commercial potentialities, Dur-previous week.

EXPORTS:

ing this month such missions Oils, chemicals, steels, and visited Japan and Argentina, reils took the feature groups and it is expected that a mission positions in different sesalóna. will go to South Africa before buying spread to minor groups mercantile,

New York, May 19. such as the gloss, many weeks.

Raw cotton exports by destina- Experts here nolo, the follow-drug, copper, and aluminium.

in High camnings in the first on aseported in bales by thei ing significant tendoncia

quarter for the all plus a re- New York Cotton Exchange for Exchange Rates

other parts of the world.

European countries soul Japen turn to something like normal the 1950-07-season to May 14]. study the United Blates market in Suez Canal shipping helped were as follows. with care to avoid the disturbing chemicals rose on the romance erbits of United States Interal of high-energy

Continent commerce which woulą arvien a were bought on outlook for adrene operations. Felis Canadia "protectionist spirit in this pickup in

fuels. Steels Hellas.

Tosal for BORION”

Japan's self-imposed looked for a freight rate rias in Samo perkid last youT*. eighs on exports of textiles July-United Press.

country.

L

NAMESAKES

of

no

and

Bank Of France

Statement

Washington

The Bank Of England equivalent to about 14,000,000

Statement

Paris, May 19. The Banic of Frenice' state- ment for the work ended. May

Lordon, May 19. 9, reads go fpiloway

Paino The Bank of England diste- Tatal sold holding_301,301,304,400 mont for the week ended. May

13,379,907,889 | 15, rends as follows. 11,271,000,000

Notes In alcodation Pubble deposits ....

ड-

Total other

reneleo sight luippen alguna

Advance

stop world

Hank rigtes in circula-

ton Current counts and

depotte

done in the local * Bustosas waON

unoMala exchange

Answer:-1 Gorgon, a Song #19.301 mong at the following, rates:- alist) Usu dolar (per sa summer Kajol Morting metes (par £11, 1343 Youngsters, 4 Trigger, & Cowl dikoc

1600) boys, 6 Dog. 7 Justlerk,

Western, Horse.

Roy Rogers.

Australian notes (per 100*** 0,530,040 Indonesian rupiah" (per

Bim tios (per 100) Kingapors (Straits)

Other grille Pisosinia

Itatto

bales cotton, or more than tho sation'a total cotton production.

Crop nowe

considerad

#DAS

molly" favourable. Experts saidi

a pertain amount of replanting

thad

is gonedored normal and dọc the bạit generally thera dota not appear to have been sp- more remooding preciably

While necessitated this year. Btaring 182.1L42 progress is a little late, the ex-

tielay is #19271410 perte said the

not 28100 247

that und

STOWDE

tilted Press

rious,

generally are very optimistic on the yield per United Prom

pere outlook,/

י