1961-02-23 — Page 2

Pagö 2

Rise in exports of U.S. domestic goods

Washington, Feb. 22.

The Commerce Department announced the United States exports of domestic merchandise increased from $17,438,100,000 in 1959 to $20,299,700,000 in 1960,

guin of about 15 per cent. These totais Include milltary shipments, which declined from $1.277.100,000 in 1950 to $949,- 200,000 1000.

Annual exports increased in all economie classes of com

modities from 1950 to 1900 as follows:

Semi manufactures, from

shipments of aircraft and parte, mutornoblies, und passenger metal manufactures,

There were gains in Decem- ber exports of metal-working machines, railway transporta- tion

equipment, office nai computing maching Manu- factured cotton rose

THE CHINA MAIL, THURSDAY, FEBRUARY 23, 1961.

Britain's top salesman US markets closed

tells

the way

to boost exports

Prime Minister Harold Macmillan says it, trade figures underline it-Britain must export more. But how? To find the antiver Alexander Thomson interviews Britain's number one salesman.

By Alexander Thomson

London, Feb. 22.

from In a way you could almost say that 63-year-old Mr Reginald $2,488,500,000 to $3,522,400,000; $9,840,000 In November to Bowdon is Britain's number ono salesman.

Finished manufactures, from $14,700,000

$10,533,800,000 to $11,435,400.00. UPI.

Crude materials, from $1,012,-

600,000 to $2,850,000,000;

to

Crude foodstuffs, from $1,440,- 100,000 to $1,030,500,000; And manufactured foodstuffs, from $1,077,500,000 to $1,110,500,000.

From November 1960 December, United States ports of finished manufactures fell from $141,900,000 $947,500,000 due to reduced

to

213 December...

Unit trust

Unit Trust First Hongkong Fund

Buyer Price: $1.23. Seller Price: $1.31.

He wears a Gurkha tie-as a young man he served in the Indian army for

a spell-and a couple of bowler hats.

|

New York, Feb. 22. All markets throughout the United States today were closed in 'observanod of Washington's Birthday, --UFL

HONGKONG

STOCK EXCHANGE

Our Own Correspondent at

London stocks irregular,

motors ease

London, Feb. 22.

Stocks moved irregularly in brisk two-way trading. Jaguar made the day's high- light plummeting some 9 shillings to 67/71⁄2 after their sharp profits dip.

The market had hoped the

turned

Business done at the long- kong Stocic Exchange this company had bypasted the car!

amounted 10 morning

ap- slump. Jaguar's results $4.700,000. Noon other motors casier. quotations and the morning's transactions:

One of them is in his capa={ With all bugles blowing for of the moment and problems of proximately elty as national chairman of a now export drive I asked the future.

today how we the Institute of Marketing and Reg Bowden Sales Management.

should set about it for long The other is his everyday job term success. of marketing director of the £6,700,000 Horlicks Milk Food atki Pharmaceutica! business.

.D.

"Unless we get to grips with them", he declared, "those two expressions we all know so well HK Bank And for 66 minutes he hit will rapidly become 'We will never have it so good” and “t am all wrong Jack."

FREE HAND

out right and loft about neexis

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CALL YOUR TRAVEL AGENT.

Buyers Bellers

3070 1005

*K Dank

Lon. Reg. $575

E

tiven mich greater powers Whart

Co 201 200

than they normally possess.

Firet, he old, our salesmen Lombard... when they go abroad should be

Within reasonable limits they Talkoo Dock 74 74 should have a free hand to

Salce

10 4 1000 200 1890

ቡ ሰ

10 1000 * 1003 BU (1880

451

100 204

1000 74%

4007

100 ur 742

spend money on seizing unex-K Ga.. pected opportunities without always having to refer back to head office.

10.20 10.40

Wheelock

Second, commercial attaches

at overseas embassies should HK Doct not be Foreign Office men but Provident from the Board of Trade,

400 12,10 2500 or 18 20 4500 19.30 12.40 12 4000 12,10

1500 20.00

Miscellaneous blue chips often took small falls but Unilever ran back & shilingo 71% pence to 150/3. British American To- bacco, Imperial Chemical, indus- tries, Dunlopa, Imperial TC- bacco all shaded, bui Courtaulds and Woolworths were มด- changed.

Steels and engineering stocka Improved. Breweries stayed on higher ground with radios and commerclat television stocks, Paper, texties and store shares were mixed while bonits insurances eased.

GILT-EDGED

and

Dated bonds in glit-edged found favour and advanced up to 23/8ths but undated issues

Title

Dollar changed. mixed, Interna- 3 points down

stocks were tional Nickel 300 2000 Chiyster off 2 points and US. Steel 1 point kiver. Bethlehem fired with General Motors and Shell.

5800 1 47

21000 12

were

133 137

500 r 12.00 1200 Fr 136

20.00 20.00

HK Hate!

46?** 47

1000 + 47

500 647

515 65% 1800 + 05

100 85

500 65

2000 v5 8515

вот

3100 or 13}{

200 or 83

140

And they should either be given some industrial experience K Land. first or have men trom Indus- try acconded to them.

Third, in company accounts proportion of sales and proats attributable to export markets should be revealed.

Then everyone would see how patriotie the firm was and the extent to which it was working

זור!

•

Youmat (0) (New)

128

for the country as a whole as K. Tram .. well as for its shareholders,

Fourth, we must close the gap between industry and education, It was much too wide at pre- sent.

ECONOMIC

GEOGRAPHY

Economie geography should

100 130 400

200 130 20 130 200-33!!

200 3315

30 3315

1160351

C. Light...

3024

31

+400

2011

200 30

1060

1300 úr 31

1000 31

be taught to all young people UK Dec. from 14-year-olds to university undergraduates.

Reg Bowden recounted what n university vice-chancellor told, him a few months ago.

He said that for 40 per cent of his "finished products,” that is those with science and matheina- tles degrees, there would be three jobs waiting for every graduate.

But for the other 60 per cent, mostly in literary and arts groups, he was "seriously

wor

:

35 3531

1500 & 30%

100

200 or 301

000 (31

2240 N 331%

1000333

2006 2919 BOUG 33 $100

1500 4 405 230 de 401%

TIK TA

402 4035

Now 44

3004412

Cement

1300 0 3554

3000 333 1500 35 1000 31

Dairy

ried as to how they could play Textile

their part in the great big Nanyang

World."

400 40 7000 0.90

3200 at 10

#009 820

Watwo

Allied Iny, 9.00

8.18

.. 13.10

7000 0.95 1.20 1000 68.10

1324 13.20

Trust..

City Hotel

8.20 8.40 5000

3000 84

100 21

1000 $150 7.15 000 7.15 4000 7.10 1000 7.10 30

"Here purely", said Bow- A. Rubber 705 den, "Is pointer that educa- tion in business maiters could

well be exploited by univeral

tien.

"That would help attract. (Night) 10 Industry reasonably well educated men with some under- standing of the big problems that lie ahead.”

What of export incentives like tax concessions for profits eurned in overseas selling?

He is all for them.

500 27.70

3427 47 24

Humphreys Really

21.30 27.00

... 2123

Int'l Inv.

He argued this way: "What 1 & FE produces dynamic in Д CUT-

pany? It is order book of Gran course. And what produces

order book?

sales force.

"Salesmen

Eagerness of its

usually are

warded with commissions

2.15 30000 3.125 1500 2.123 4007 40 3.18 i

14 1000 ir 14

1000 e 13.00

11.80 17.00 1500 17.70

13.00

14

or. Waterbost Kelantan bonuses which over the years Macro Elec have been found to be the best icwong Bunt way of securing business at a 1ton X Div 200 proût.

"So why should not industry

be offered some special reward

by an understanding government

If it succeeds in winning expert

business in increasing quanti- ties?"+

Vibro

23

1000 63.40 2000 or 345 1000 6 3 10003.525

6000 36 Soco 4 JB24

000 62314 15000 8 22.85

Record sales

New York, Feb. 22.

In the past any suggestiona Borden Company reported along these lines have often 1980 earnings of $20,830,250 or brought complaints from in- $2.71 a share of record sales of direct exporters.

$950,014,030.

They are Arms, for example, that make lamp búbs for motor- car headlights or elecirle eables In machinery.

Earnings were up 5.1 percent from the 1050 pront of $25,548, 693, or 6261 a share, Sales rose Bowden brushes pside the about 1.0 per cent above the 1939 ides that incentive for direct volume of $94,320,495. exporters should be unfair to

those playing on indirect part. Share figures are adjusted to "Suppliers of fittings to export reflect the two-for-one stock goods are in a sheltered pol-uplit in January, 1960.--China tlon," he declared.. "It is the | Mail Special. final manufacturer who should-

ers the risks.

"And anway if others wanted'

a taste of carrot they could al- ways get it by their own-export efforts."

Detween 70 per cent and. 75 per cent of the Horlicks business is in mille foods and cheese,

particularly, cheddar cheese.

"The rest is in pharmacculi- cais started in 1932. It is c pending rapidly" Beg Bowden reported fingering his Gurkha

Be

Foreign bonds were neglected. Gold mining stocks went down despite a Armer opening but falls stayed small.

Coppers were. hit by Rhodes- inn political troubles and reports of currency restrictions being imposed there. Diamonds re- ceded but tins made limited headway,

Oil leaders ended fractions

Boycott

threat

stirs

protest

Washington, Fob. 22. The Amalgamated. Clothing Workors' decision to boy- cott Japanese fabrics ap peared likely today to stir a storm of diplomatic protast and possible legal action against the union.

The US-Japan Trade Counell said the boycott would violate both US laws and international agreements.

The Japanese embassy call-

lower but rubbers and insed the union's move "unreason- continued their 'upward move-abie" and discriminatory against ment-UPI.

Japan.

Closing prices

British Government Serwities

. Consolated-3-5/15.

Convention 03,

Saving 133/63281. 3. Savings 1900/70-£70. 32, Savings 1905/25-7.

Overseas Bonde

E. German (URwes1-£2. 5 Japaner, Amented-IJ.. Banks Insurances Barclays Ord-6 Gd. Chartered Bank-C3; 3.

.Quardian Mak-3.

* KONTROINE ·

Lloyds Bank 63# 93, Lombard Banking Ord-20 G,

oli

British Petroleum, D. Burman Di622 Dd.

Royal Dutcts-131.

Steels & Engineering Babcock Wilcox Ords D. Tube Investment-741. United Steel-02 od

Vickie Ord-21 94,

Electri Assoc. Elec. Industrier. 2a, Ehre.&um. Industries-ißg Dd. English Electric Ord- Ed. General Electric Orl- 3.

Inducleiate

Borax folding)-211 34. Forestal Land-19s 24 Gilman (oktepe Ord-35 2:41. Hiren's Day 20-13/22.

On-3: 7GO.

Sutter &

Unilevers J Westland Aircraft-16. 10. De La Rue Ord-tc.

Paper

Bowater Paper Öskubba, Wiggin'e Teane Ord-57 D.

British-Amer

Ord-05

Tobaccos

Carreras "1" .d.

Imperial Tobaces Ord-CB;

Motore

British Meter Ord–178 154. Hawker Siddeley Drd-24 33. Jaguar Care Orl-70 34. Ronyee Ord-434 63. Standerd Trhunph-ice 44d.

Tazilles

Calico Prmtem Costs (3 P.)

Courtauld Ord-435 1list. Fine Sojnnery Ord-314 3.

Berch

4.

1.

d.

-

Loneaihire Cotten Ordmes 1015. Great Universal Ord-673. Lyons (3) "A" Ord-85% 1015. Marks & Spencar "A" Ord005 | 4150.

Tate & Lyle Ord-604.38. Woolwork Pow.) Ord-61% 117d.

Miscellaneo

Bowmaker Orde 1950,

Hongkong China Gori. Indo-China Def, Ord-240 GJ.

Tand Securiting Ord--28,

A spokesman for the Embassy said, "tire Stale Department knows our position. We expect the American side to find scene solution."

MEN'S SUITS

The Union's executive board, meeting at Miami Beach, Fis, yesterday decided to impose the boycott on all Japanese fabrics imported after May 1. If enrried oul, clothing workers would stop using Japanese fabrics. The threat of the boycott already has caused some im

suspend.. plans to porters to bring in more Japanese fabrics. The union took the action to Japan to restrict try to force

herply to shipnetis af men's and boys' mits to the American market. The Japanese porters have set a quota mit ot 120,000 suits year to the U.8. market while the Ameri- сап union wanted to mit import to 30,000 suits--UPI.

No marked change in UK output

London, Feb.-22. The seasonally adjusted In- dex of U.K. Industrial pro- duction in December does not suggest any marked change in the level of in- dustrial production in the last quarter of 1960.

10 Central Stalls- According

the index was seven per cent abbyà 1959. The increase in the last quarter of 1980 compared with a year earlier was two per cent.,

Ik D. Steam Nav. Det.-tical Once, In 1960 81611 Theatres-ds 1015).

Mines

De Beers po?—150%, Petaling Tinedy #3d. Rio Thin (Bourer)--ER. Roan Antelope Copper-01. Unfari Corporation=-65 0. Welkom fold Minha-104, Wedlem fio*[@@=9€ BE

Rubbers & Reca Anglo Indonesian Plant.-4« 41⁄4¿#. Geyin Tea Ond—2, Jinperia! Tea Ord-16. Kunda Lamourencoba 198. Lambak Rubbers 710

Nosler.

COMMODITY PRICES

METALS

London, Feb; 22. The Un, market was quiet co- day while copper ruled steady "Our policy is to go on ex-with quotations around 1 point) panding there." --London Ex-higher on the day. Prices closed at the end of the afternoon prass Service.

Desvion, ali in sterling per ton as follow:

Exchange rates

Burities won done in diva ional sinoticiat AKCIE matkat Thyla morning, at the following TAKER:0 V dollar, (Def: #1) **** Sterling solon (per £1) Australia poton: (per #1) 7. Didonesian Iturpólks (per 100). Dam loals (ne 2009 Kingapore, (Birma)

Atd,

month Сурет,

#manth

Zing

COTTON

LIVERPOOL

Liverpool, Feb. 22. All prices in penes par ibi

The seasonally adjusted figure for. December 1060 (based on 1054. as 100); ta 120 against 119 in November and 118 in Decem- ber 1930.

The figures for December in both years were affected by the Christmas holidays---China Mail Special.

Russian cars for Denmark

Copenhagen, Feb. 22. Tito Danish shipbuilding concern Burmeister and Wain will shortly begin to Import. Russian made cors, a company・・ officia! Bald today.

Under the Brm's current con- træet with the Boviet Union, Rimsion ears and tools will be bought as

pari payment for

American Contract

Maryis

23.43

May

July

2643

24.00

Mar.

2000

ships built hero,

MAY

29.83

Biticed Contract

94.99

The company spokesman gal Tho. was, unable to say what number or 1ype of est Would be bought, men detalla tad- not - yet been mottled, but hadish ADAL Han cara will be sold in the Totali market»«Ch

Mall