Research Association Institute Produces Miracle Machinery
London, June 11,
THE CHINA MAIL, FRIDAY, JUNE 12, 1953.
'Research at the Shirley Institute, the British
HONGKONG Cotton Industry Research Association's labora
SHARE MARKET
tory here, is helping the transformation of Britain's cotton industry on which a major part of the country's export hopes and living standards must regt.
Cotton textiles are still year by year the most important export of Britain and also the greatest (From Our Correspondent) hope for increasing two-way trade with the United States. For Lancashire buys American raw cot- ton and hopes to send back luxury piecegoods to help pay for it
Business done on the Stock Exchange this morning amounted
to 3407,440, Noon queiations and the, moming's transactions:-- SHARES BUYERS SELLERS SALES
BANKS
¡MK Back East Ash
INSURANCES
152%
30 1330
Ny
Canton
243
Union
703 23 780
K Firs
140
13.10
SHIPPING
Waterboat Ama Nav
DOCKS, ETC.
K. Whort
70%
N. 2. Whart
4.30
2007 20.1p
1145 11.00 732 7.85
Dock
Provident
Whecock
LAND, ETC.
IK Hotel... 2.00 774
Situmphrys $9.00
UTILITIES
Train
23 23.30 110
3700 1523S
FC. Light (0) 11.20 11.30 4500
ic Light IN) ร
Electric
120
23.10 23.30 2100 23.10 1300 or 21.20
Telephone .. 19.50 19.30 1500 * 19.26
INDUSTRIALS
Cement
Hope
Dairy
STORES, ETC.
Watson
„K. Crawford
XD
CONTONS
17.10 1500 17
13.30
2015 20,00 560 - 20.40
1000 3700
15
20.00
...........23.00
RUSS
2.03
Textile Corp 3.15 3
EXCHANGE
MARKET
REVISIONS
New machines, which are the envy of the world, are being evolted ut the Shirley Institute,
חנין,{}
With
British cutton its research for better methods manufactur,ra can ut costs of and improved conditions. production
In and produce finer¦
this huge laboratory cloths. Shirley Institute selentials | scientists
il mills-and
not only invent new
ding farmers overseas in their own work-
are helping to improve working machines. but make the conditions they n to prosince Cotton which will One of the finer devices in a spin
eastly and
and produce a radio-netive static eliminator. In finer, strenger yarn.
the processing of artificial fibres, There
is my activity of the which are highly electrically re- Industry from the original sistant, textile
static electricity con Meaning opening and
of the build up so rapidly- as to make bales of now cotton to the spinning the obres almost unmanageable. and weaving. nishing and making up 1..11 The Shirley Institute does not work on in
Listless Session In Cotton
I TREE.
chist.
DEALS WITH DUST
care
British Textile Production Shows Increase
London, June 11. British textiles produs: tion Is now 30 per cent higher than last July, when the recession in the Indus- try was at its worst, Nir Reginald Mandiing. Econo- mlo Secretary to the Trea- sury, said:
Employment in the textile areas had shown à dramatisTM Improvement' 'hà told the House of Con-
mone
Crisis Exports
Unavoidable,
Japan
Warned
Tokyo, June 11.
MESSAGERIES
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28
In a forecast of Japan's economy during the next five years, the Economic Counsel Board, the Government's top advisory body, gives a warning: “MONICAX" that living standards must fall and unemployment "SILVERNANDAL" increase, and that a crisis of "market limitation" May 1052, 101,000 Deobla were unemployed
is unavoidable for Japanese exports. bat the Ogure for Blay this Year July 21,000.
Most leading industrialists, who have been "REI-HO" urging the Government to adopt a planned SILVERSANDAL" economy, independent of U.S. help and windfalls “MEKONG" from the Korean war, endorse the Board's fore- + Saigon, Marsellies, Algiers, Oran, Tangiers, Casablanca,
Mr Maudling was resist log criticism that the
Governocot had not ré- duced the purchase tax on textiles in its budget pro- bosala.
Mr Anthony Greenwood, Labour had sald Britain had slipped back to fourth place as an exporter, and the United Slates, Ger many and Japan were be coming Increasingly бал gerous rivalsReuter,
An Urgent Practical Problem
Convertibility Of Currencies
in
a gemifne
casts.
They are redoubling their pressure for drastic polion to modernize Japanese equipment and methods and, with the simul- taneous sacrifice of luhour stan- dards, introduced under the Oc-
TARIFF
cupation, to reduce ineffelenty INCREASE
and costs throughout Industry.
the Economle
In its report, Counsel Board expresses the bellef that U.S. defence spending will be cut from 1955, bet that "economic intercourse between the free world and the Sovlet i will become more active,"
REFUSED
Washington, June 11. President Eisenhower has re- jected the Tariff Commission's In particular, Japan's trade recommendation that the import with Communisi China is ex-
duty on screen printed scarves be Increased from 321⁄2 to peeled to increase, but by no
*65 per menus on
the scale fondlyThe President said that inter- anticipated by most business Traders, who are fretting at the most barnest efforts to maintain national conditions demand "our disadvantages which they believe they are suffering while Britain friendly co-operation with The other countries.of.the free world," is building up East-West trúde.
It was the new Administra- tion's fret netion directly con- cerned with Japanese American trade relations.
EXPORTS PEAK
Five years from now, Japan's maximum exports are expected
the
Homewards "GIALONG"
"MONKAY
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• Reclung-13 June Kepilot
+ hcelunt 20. July
Hongkong
................ Keelung - August 10 Augu
Le Invre, Antwerp, Rotterdam & Dunkirk, Subject to change without notice.
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NEXT SAILINGS
ARRIVALS FROM U.S.A.
m.r. "CHASTINE MAERSK” m.v. "ELSE MAERSK"
"THEIN MAERSK",
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1 . נ
AGENTS:
In Port Buoy A-10
Juno 18 July
2
Jung 18 Juty
July 10
JEBSEN & CO.
Pedder Buliding.
Tel. Nos, 86086-9
Chinese Freight Booking Office 27, Connaught Road, C.
Tel. 20461
Dates and rotation subject to change without notice. At liberty to proceed via other porte to soad/discharge cargo.
EVERETT LINES
EVERETT ORIENT LINE Fast regular freight-refrigerator-passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Kangoon, Calcutta and Chittagong.
A high voltage electrical static clhninator devised by Shirley Lakep
of this. Stalic electricity also attracts dust and can cause a bar of dirt to soil
Basle, June 11.. the material on the loom and to The Bank for International be so firmity held as to defy all Settlements says Convertibility
cleaning
of currencies is no longer ordinary
operations. The rudio active statle interesting theory but a practi-
A spokesman for the Japanese For Freight and Further Particulars please apply to:- eliminator bung over the loom cal
the greatest to be stabilised at approximately Embassy, commenting on problem of dissipates the
urgency. static electricity
$1,400m. The export target for President's action, said: "We are and prevents the deposition of
the current iscal year is an happy to hear the news. We are Its 23rd annual report says:
optimistic $1,200m. World de- "Only through the It is said that Britain imports
most appreciative of the careful New York, June 11.
establish mands for textiles. In the opinion handling of this question by the Cotton futures today went 19.000 tons of trash, including sollment of wide and effective ex-
will have fallen President." sharply as through another listlesssion of the United States, every year change markets will it be possi- of the Board, wi
countries as consumer
President Eisenhower, in his ble to get back to realities and become more self-sufficient. The statement rejecting the duty in- the fourth in a tow, Price in raw cotton. But the Shirley
restore the necessary degree of world demand for iron and correspondingly opening and cleaning plant makes
and steel changes were
ati equilibrium narrow, holding within an B possible for cotton to be squilibrium -
The to raise any tariff covered by the which will then be constantly is also seen as decreasing. The crease, said that he was reluctant point range,
but showed on cleaned today more quickly and overtone of steadiness as son efterently than ever before. The safeguarded by the ever-active world is probably already, over Reciprocal Trade Agreements Act
producing raw
Iron and cotton, forces operating
until firm order
a special commission to be traders became impressed with
for this new
steel and other metal products." set the stock markel rally. AL
he came from the United markets
The Japanese Government will up completes its broad study of the American foreign economic elose, the list.
ruled
and it is selling stendily "By the very fact of converti of world markets with "a subsidy
he compelled to meet shrinkage polfcles, lower to 8 points. The ghg| then Klas
bility, countries will be com-
The
President declined kts prices were off 1 to up 2 points. Sir Ben Lockspriser, secretarypelled to maintain standards of policy and other measures," accept the recommendation of the
A few of the early 1954 de to the committee of the Depart monetary discipline which will,
Tarli Commission for an increase liveries crossed slightly beyondment of Scientifle and Industrial at one and the same time, give
Japan will reach a limit of in the duty on screen printed the 34-cent line, Techniciang Research, revealed revently that their own people an honest and the export of plant equipment back to.
practicable trade expansion in
scarves and sent the case blamed the inactivity on the Shirley has produced a new foom reliable currency and make it
the Commission for numerous crop and International which will be on the market in possible for than to become and shipping. The machine in-
further study. uncertainties overhanging the 1954. Although conventional in members of an international dustry has no hope of meeting
The President, in a letter to market. Busintes originated type, it is, the first ever built in monclury sysixrn."
German and European competi
the Chairman of the Tariff Com- mostly among local professional accordance with truly scientific
tion unless drastic rationalisa- mission, explained that he has talent. Domestle mili interests principles.
Stating that convertibility is "ation in methods is enforced.
certain doubts and questions flexible bond", the report urged The Parks Stock
bought on the declines, Exchange
that "the DEFECTS AVOIDED Top picture remained
movement Board has reorganised the ex-
carrying The present annual expendi- concerning the manufacture and most European countries towards į lure by the U.S.. of $780m. in distribution of silk scarves on change market in-the-light of blurred. Most
reports Indicated
he would like further in- increased business since a num-
combining mathematics, germaine convertibility should not special procurement orders will favourable condition except 1
President ber of European countries. per-
and engineering for the dryness in tween Shirley designers believe that but should be accelerated."
relterated his belief that free bolt arcas. -mitted multilateral dealings in
1058. In that event, Estimates on
$200m, by they have avoided the inherent The report declared that if utso, income from invisible trade world co-operation demands the their currencies.
acreage ranged from per cent under lost year to 4 per cent defects of conventional Jom the distrust of non-convertible will be down is $400m. (half the most careful examination of all Hilberto, rates of US and above. Attention was centred design. The new loom has artinus and at the same thine
are currencies is allowed to con- present income), as a reflection applications for tariff increases Canadian dollars, the
on the latest boll weevli survey duced the finest quality fabrics revival of international capital tional accounts. escudo, on-
of Japan's dwindling interns with special attention.
effects of such an the Djibuti frane,
an action on this the Swiss conducted by the Journal of In laboratory conditions and It reviy franc
and the Belgian franc Commerce.
nation's friends abroad. business now remains to be seen how it a local
impeded by
FIVE-YEAR PLAN
The President also indicated were amelally quoted while paper. The gist
excessive foreign exchange con- of
will stand up to full-scale com- the survey business in other currencies was was
trol, a number of countries - nee
that untit the proposed com- that the
mercial conditions. crop facts
The Shirley Institute is main-likely to find themselves with development in South-East Asia policy has concluded its study, he
Japan's prospects for trade
mission 10 handled directly between banks menacing insect situation. The
10 study foreign economie without the marking of the rate survey noted
out the resources they need to will be measured in terms of U.S. that no mattertained by the cotton, rayon and on the Exchange
maintain the rate of economar blackboard. how favourable weather condlallic industries of Britain and an As from June 1, the exchange
may be from here on, the annual grant from the British progress and the level of employ and Colombo Plan aid in that is reluctant to modify the con- regi, and governed by the cessions granted in trade agree- market has been split in two "crop faces a serious handicap Government's Department of ment parts: (1) the Tree, market (for that is unlikely to be fully Scientifle and Industrial
It is being realised more and ruling prices of raw materials, demonstrates tha: such modifica
now declining and reducing the lone
The which no limit nates have been overcome."
Research.
more clearly"; the report con
con already low purchasing power of President fixed by the Bank
also sending similar of France. Prices closed as follows;- It was scientists at Shirley who tinued, "that
systems of cx-
the whole tres. 1.o. US and Canadian dollars and Spet
letters reporting on his action to produced L-23, now known as change control provide no real Djibuti francs) and (2) a banker
July
the Chairman of the House Ways ventile,
The the waterproof cloth solution for the monetary prob- October market to which 15 currencies December
which saved so many British and lems of the various countries, investment within the framework and Means Committee and the Finance Commitice- are admitted, The currencies Mareh of the following countries are
United States plats after they for exchange control is power of a balanced Budget will not be Senate May tical with on this latter markel: July.
had been shot down into the sea less to prevent a crisis
crisis spreading
enough to
to meet the demand," the United Press. October
while Germany, Belgium,
Arctic convoys, from one country to another, Bute is Denmark,
Board points out. "In the cir- The
is experimenting
"From Britain, the Netherlands, Sweden,
the commarcial point curistonces. there will be no Swizerland, Egypt, Italy, Mexico, Spot
Bleaching and dyeing; of finishing.
view, too, convertibility is altomative but to rely on foreign Norway, Portugal, Czechoslova-July
and testing printing-pastes. In becoming
more and ΕΠΙΣ
investments or to raise funds by more October Yugoslavia and Austria.
Arch on fiuld and heat necessity, for the existence of | bord flotation." December
commodity even free quoted on the banker Marel market (which is divided into May two ar
part one for the seven October
July European countries, in which
multilateral
possible
and
dealing
is
now other for all currencies of the other abovo
Tho
1lons
34,03
By
phyalca
34,20
33.67-33.60
33.88
33.97-33.95
31.00 31,70 nomina 3723 -United Press.
in
13,20 33.83-3364
33.44
33.04
34,00-34.08
53.08
NEW ORLEANS MARKET
13.73 bid 33.18 bid -United PreAB.
SAO PAULO MARKET.
Sao Paulo. Jund 11.
and is
the be allowed to lose its momentum, { have been cut to a maximum ofhich
movements
lig
markets
estimated
amount
of
in The Board recommends urgent investigating the soiling of cloth. which prices quoted will be ay that the current five-year plan "One day we may even produce true reflection of supply and de- (designed to reduce rice imports a cloth which does not soil," says mand is almost unthinkable by 600,000 tons a year, together Dr Hill, Shirley's deputy director. unless there are opportunities with
in
the
at
The
unless evidence
are
necessary.
-to-the
Fair Deal Requested
Con-
Washington, June 11, products) be extended
nt the risk of
Бронектеп for independent Out of all the research which for corresponding dealings in and
on ceaselessly Prices of cotton futures closeti goes
equally free foreign exchange austerity and hardship, and calls rubber users and for organised
workers urged laboratories at Disbury, there is markets,"
for · still greater concentration on rubber
to make sure that emerging a new textile industry-
the production of chemical fibres esm
The "big four" rubber com-. In the area which gave the in-
not get the biggest dustrial revolution to the world.
to cut back imports of raw cotton panies do and wool.
share when the government A shift from coal to hydro- share
its synthetic rubber In advocated, as electric power
mentioned currencies) will now today as follows:- be a
marked on the blackboard July
and
Stock
omeially
included in the October
December
list change's official price March
Omelelle."
(average price 15/16 io
Balc
18.03 10.30 10.40 10.40
The new scheme applies to designated apot market) 33.22
cash business only. Forward trading in foreign exchange will continue to be handled privately between bankers.—Reuter.
LONDON TIN
MARKET
0,047 bales -Unlled Pren.
Grain Prices.
In Chicago
Chicago, June 11.
-Reuter.
The Rubber
Markets
Singapore, June 11. Prices of rubber futures closed today as follows:--
Prices of grain futures closed Nümber 1 rubber, per lb,
Spot July
pd London, June 11. The tin market was steady today. Turnover was 85 tons, including 50 tone for cush, Prices closed at the end of the September official morning session as December follows-
Bpot Un, buyers
Boot in polterg
„Etantsuden doris at
· Piron-months tin, buyers
musiness done at
today as follows:
Wheat-price per bushel'
2.051 nominal 2,0311-1
M.3011
007 September
700
200
Titee-months iin, seflerg
200 700
arch
Corn 70214 Spot
July
December
May
IB
farchi
United Prem,
Bay
Oats
15t
July
September
Exchange
e Rates
Bestment SASALA
Ryo July September
Soybeans Business was done, in tsm local Spot unofficial exchange • market this July wento at the following retos Augunf
280 nominal 2.0014-15
UB: dollari:iper - $13.
0.0320 September.
Sterling violaliper, 41)
18.771
Kovember
Indonesien palliders (per 100)
23,10
Blar tical-{per-100)
3130
Bingapor Kalralla)
15%
FICKPALEOSAper 319)
0.03
2.04-1 January
3.66-2.01)$ March...
2.701 New York Flour-per 200 1b. Back $13.10 nominal-United Press,
July
Avgust
September
Number z rubber, July
Number rubber, July Number 4 rubber, July Bpot rubber, unbalod Blanket crepe No. 1 pale crepe ...
op-opia
00-0752
The report regarded as "un- fortunate" that some countries had imposed quantitative im
port restrictions in an attempt to narrow the gap in their balances of payments, but said well as more intensive study of plants.
was of great importance that the
such
that
supplementary
a
of uses
sources
(The so called "big four" Goodyear, Goodrich, Fire-
of stone and US Rubber.)
restrictions were now petroleum, natural gas, fuel wood are clearly scen as being at best and charcoal 03
They made their pleas before only temporary expedients in- capable of providing any per-til self-sumelency in vital a House Armed Services sub- manent cure of balance of pay-materials is realised, the living committee which is considering legislation to sell the war- ment deficits.-Reuter.
standard of the people must
the Board built synthetic plants to private continue to fall," concludes. "As polley of industry. This has been recom
Bloen- Metal Prices In. essential streamlining of industry mended by President
workers must hower. progresse, more
Robert Winiere, executive be laid off and employment wil
Heel fall to keep pace with the in- director of the Rubber
and Sole Institute, said the in- crease in population."
stitute's 13 member Arms could be "squeezed out of the market for lack of supplies it
New York
New York, Juno-11 Prices in the metal market the with closed unchanged
carollowing exceptions:-
**United Press. NEW YORK ACTION `·
New York, Jung, 11. The Board of Governors of the Commodity Exchange Inc., today surpended dealings in the
No. 3 standard rubber futures contract until further nolice. Exchange officials ex- plained that the action was taken, because of Insultalent Interest in the contract.NA
Tin, grade. "A" (99.00 per cent or higher) New York, per: lb. 90.00 bid-89.50 bid.
MANGANESE ORE the synthetic rubber is put In-
FOR JAPAN.
General
'Manila, June 11. Base Dictals
Lead, common, New York, per lb, 12.84-12.80 bid. !
Zine, prime western, New nounce that the recent ship- York, per lb. 10.10-10.15 cents.
ment front the Bohol Mines “United: Press,
Copra Quotation
of
to the hands of the blyg four Arms which he said are their major competitors. United Press.
1.200 tons of manganese ore to Seeds And Oils Japan completed all commit
contracts ments on manganeso
the fulfilment of a new with Fux contract signed
Fux Shioji Kaisho, Ltd. of Japan..
The first shipment of ores on Copra, was quoted today at the new contract which calls Hereafter dealings in rubber $100 per short ton, traded, è̟lf. for the delivery of 15,000 toes, futures will be in the No.1 the Facile Coast Coconut oil is expected at the end of June standard contract, United was quoted at 14% centaBand further shipments will con- Press
pound," sakod.-United Prom tindo sul 1951-France Promk
New York, June 11,
Now, York, June 11, Prices in the seeds and oils market closed uncliiged; with the following exceptions
Tung oil, in tank cars, f.o.b. New York, per 18, 285 cents.
Peanut all, per b,, f.d.b. Now York 21-cents. Mbunes polls as Du Minneapolis Pross
par bushel, f.d.b.
United
"NOREVERETT"
Arrives
Sally
June 14 fróin Manila. Juho 15. far Singapore..
Rangoon & Calcutta.
“BRADEVERETT"
Arrives Sails
Penang,
June 24 from Singapore. June 26 for Kobe, Osaka, Yokohama, Tokyo Boy, Shimizu & Nagoya.
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight-refrigerator—passenger service to Korea, Japan, Philippines, Indo- China, Slam, Malaya, Colombo, Bombay, Karachi and Persian Gulf Pòrts.
"THAI"
Arrives Salls
June 13 from Singapore. June 14 for Kobe & Yokohama,
"STAR BETELGEUSE”
Arrives Salla
June 37 from Takso
June 28 for Singapore, Port Swotica- ham. Madras, Colombo, Bombay, Karachi, Khor=: ramshahr, Basrah
Bahrein.
(Accepting cargo for transhipment Hobe/Fusan and Hobe/Okinawa)'
EVERETT STEAMSHIP CORPORATION S/A
"Queen's Buliding, Telephone: 31206, Chinese Department: Telephone 28293.
BUSINESS
REGULATION
ORDINANCE 1952
Copies of the prescribed Forms
(a) 1(b) and 1.(c),
Now On Sale at S. C. M. Post, Ltd. HONGKONG AND KOWLOON
TEN CENTS EACH