The Courier News from Blytheville, Arkansas on April 30, 1952 · Page 5
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April 30, 1952

The Courier News from Blytheville, Arkansas · Page 5

Blytheville, Arkansas
Issue Date:
Wednesday, April 30, 1952
Page 5
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TVEDNESDAY, APRIL SO, 1D52 ' BLYTHEVTLLE (ARK.) COUKIER SK V EM Japanese Trade Expected to Rise With Freedom British Textile Industry to Have Even Tougher Time By SAM OAWSON NEW .YORKf^j — American busi- Ipncssmen expect Japanese trade competition to mount now that she Ls free again. Occupied Japan was already making great strides Uward recapturing her old trading position. England particularly was feeling the pinch as Japanese textiles and melal products moved into markets the British like to supply. As trade grows with India, Pakistan and Indonesia, the depressed British textile indu.strj will have a ^ still harder fight Lo keep goinp. Nor will our own textile exporters like it. Japanese Roods have been moving Into the United States In increasing j quantities as she rebuilt her in- 1 dustrlcs during the occupation policies aimed at getting her back on her financial feet and Less of a fiscal burden to the United States. But American businessmen, have complained at the competition offered In many lines—mrta] products, gloves, pottery, toys and textiles. Complalnt.i Recounted Complaints have stressed inability of American manufacturers to ^aicompete in price with Japanese "(foods made by workmen whose pay •cales are so much lower. And some American manufacturers have charged that the quality of Japanese goods was inferior to American items, making price competition etill more one-sided. The Japanese appear all set for i new trade drive. Offices of Japanese consulates opened as the peace treaties were vut into effect. American exporters and importers were urged to contact the consuls for commercial information. Tokyo's envoy to London started the ball rolling for a new trade treaty. He said competition for world markeU would be sharp between hta country and Britain but. promised that the Japanese would keep it fair. The British on several cases since the end of the fighting have charged the Japanese with dumping goods at unfair prices to capture markets from British traders. The battle ha-sn't nil been over textiles. The Japanese have been e x p o r,t i n g electrical appliances ^ heavy and light machinnery and other metal products. The British have been glad, however, to get some steel from Japan to help make up the English shortage. Japan's shipment of 109.000 tons of steel t<? England te small stuff compared to the American ledge to ship one million tons of the scarce metal but Japan is offering to send more and the British need it. Japanese ship line* are rebuilding, too. During the first quarter of this year, the American Bureau of Shipping reports, Japanese tock. 14 of the 19 merchant ships completed in shipyards around the world. Pour of these freighters were built in Japanese shipyards. Before Pearl Harbor, Japan was one .of the leading shipping nations. In Tokyo, legislation is being considered which would permit formation of associations of exporters to build up the nation's foreign SAVE DURING WARD WEEK MONSTER PLANE'S MAIDEN FLIGHT—U.S. Air Force's super-secret eip,hl-jnt stralofortrcss, the YB-52, lumbers into the nir at Boeing Field, Seattle, Wnsh,, on its mnidon flight, The ship was flown to Moses Lake, Wash., for additional performance tests. Treasure Ups Savings Bond Interest 'All Along Line' WASHINGTON (/P> -The Treasury yesterday revamped its entire j mu] ti-billion-dollar savins R bond i program, raising interest rates nil! along the line. j Sate of two of the current series ; of savings bonds—F and G bonds- will be discontinued effective Thursday. But three new types of bonds will be offered. The familiar series "F," defense bonds—the type held by most individuals—will be continued. But Interest rates for the full period of the bond \vill be raised from 2.9 per cent to 3 per cent. And buyers will pet a much bigger increase in interest rates over the first few years they hold the bond. The changes will not affect "E" bonds already sold unless the bondholder wants to keep his bond after it matures. In that case, he will get the new Interest rate of 3 per cent Secretary of the Treasury Snyder said the many changes are designed to improve the bond program "in • keeping with the times"—apparent- ! ly ft reference to increased commercial interest rates. Snyder said a sampling of opinion has indicated the changes "will be very popular." trade. And Japanese have just got orders from Chile for 20 locomotives. This time the Japanese aren't out just, to sell knicknacks to dime stores. They want to be a major industry nation, exporting their products everywhere. The biggest innovation will be issuance of an "H" bond to be sold, like the "E" bond, only to individuals. The "E" bond Is boupht at n fixed price, amounting to Mirer- j fourths of its face value. A $25 ; bond, for instance, casts $38.15 nn<! ' matures 10 years later at $25 value. I The "H" bond, however, will pay off in checks to be delivered to the bondholder twice a year. It will be sold at par—and will mature at par —and the smallest denomination will be R $500 bond. The Treasury said "H" bonds of lesser amount would not be practical because of the expense of handling .semi-annual interest payments. The "H" bond's Interest rat? will be 3 per cent over a 10-:. p ear period but the initial chocks will not, re- ' fleet that Ir.rcc a rate. A table shmvod that a it ,000 H- : bond would bring n $4 intercsl • check after six months, a $1S.50 interest check for each of the next seven six-months periods and then a $17 check every half year for the ! remaining six years. j TIRED FROM BEATING BATTERS ?-»TRY WONDER MIXING ALL VEGETMHF See if now/ Today's Big Difference in automatic washers — At Leading Dealers NO CHARGE! FREE! 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