Queen To Keep In Touch
London, Oct. 25.
When Queen Elizabeth Jeaves on her Commonwealth tour next month, much" of her desk work will go with her.
Though Counsellors of Slate wifi be apprinted to bamlie the day to day matters which need the Sovereign's signature or op- proval, there vre
things Rome which will require the Queen's
attention. personal
Commnuulention will be such that the Qucon will be in con- stunt touch with her Govern- ments in The United Kingdom
anci
131 the entire Common- wealth," Buckingham Palace spokesman sakt today.
"She will coulinie her work
wherever she is.'
be
Palace
According 202 the spokesman, the Counsellors will
mathly responsible
for United Kingdom affairs. Ezelt Dominion, however, hos the privilege of deciding whether or not mitters portsining to their Governments are approved by the Counsellors er the Queen herself.
It is expected that before the Edin- Queen and the Duke of
leave for their tour UF1
riser 3. & New or timmended
Regency Bill will be passed by Parlament.
It will probably be altered so as to include the Queen Mother among the. Counsellors of State and to transfer the power of Regency From Prince,s Margaret to the Duke of Edinburgh.
Under the present Regracy Act
(which
of 1037
wua
amended in 1943), the Regent is"
the person of
tuil age, 21 years,
next in line of succession to the
Crown, Princess
thint
belr
Margaret rotning after the
Parent, Prince
nearly Ave
Charles,
усига old.
Princers Anne, three.
and
tu
The Regent wond come to power in the event of the Queen's death or incaparily govern and then only if Prince Charles were under age.China Mail Sprein).
MOSCOW
ON TRADE POSITION
a8
for the
THE CHINA MAIL, MONDAY, OCTOBER 26, 1953.
World Beauty Competition
At a competition in London last wock Miss France was awarded the "Miss World" beauty title.
Here are live of the unsuccessful' beauty queens. From front they are: Miss Great Britain, Miss Denmark, Miss Switserland, Miss
and Illa Egypt-Central Press Photo.
U.B.A.
Franco Relying On U.S. For
Economic Aid
ה +
Madrid, Oct. 25.
More steel and more cement are Spain's two great needs to enable her to take full advantage of new aid which she is now going to receive from the United States.
United States experts are understood to be concentrating on how to help Spain to get her new State-sponsored steel plant at Aviles, in Asturia, running before the scheduled time, namely, the end of 1956 or early 1957.
will
Spain's total steel output, afį duction,
upset their 962,000 tons in 1952, is one of monopolies or semi-monopolies, In addition to all this mass of the smallest in Western Europe and compared with the United opposition from people with "Interests" there src the States output of nearly 100,000,- 000 tons a year, is a tiny trickle technical doubts of experts who Indeed. The United States pro-think that the shortage of dures us much steel eath 34 coking-coal and scrap-iron for days as Spain does in a
Year
making steel in Spain
may mean More modern construction that the new plant will simply machinery
from the United | absorb tuw materials which
tcust
TRADE and
COMMERCE SECTION
Unsettling Factors But Stock Exchange Not Really Worried
Wall St. Provides Surprise
New York, Oct. 26. Stocks struggled in the few |past week to gain' a
cents on average on volume that
depression-fare for Wall Street..
was
Foreign Trade Deficit
Japan To Request Quota Removal ?
Page
HONGKONG SHARE MARKET
(From Aur Correspondent).
Business done on the Stock Exchange this morning amount- ed to $145,931,80. Noon quota- long and the morning's trans- cflops
SHARES DUYRAS SELLERS SALES BANKS
London, get. 24. The Economist said to day it is evident that Japan will press for relaxation of import restrictions in the Commonwealth countries to INSURANCES help esde an increasing Union foreign trade deficit.
"The
HKC Blank East Asia
. 100-
1235
5.40 51
1:00
1610
Underwriters HK Fire +4
Dock 21421.80 773 21.40
JEROM OUR OWN CORRESPONDENT)
London, Oct. 25. The petrol strike towards the end of the week, coupled with political 'difficultics--Israel-Jordan, Trieste and British Guiana-has had its unsettling effect on the market,.
Government of Mr Those who have felt, however, that the Yoshida, faced with an increasOCKS, ETC.
ing deficit in its foreign trade, Provident markets generally required some consolidation has drawn up an emergency WheelDelt .. 1000 @ 3.70 have been encouraged by the fact that the under-plan which relies heavily on the
willingness
of the sterling urca, tone has been remarkably firm.
Franco and other countries, lo Business has been slack during the week but there
relax import
restriction," Economilst said. have been individual excitements.
Considerable discussion
involving the raising of the This has resulted in a liveller
While
the
the
"It proposes to foster switch has against last year's Anal of sevch deals, in which Japan will sell, arisen, for example,
dollar goods to the countries over per cent, raibes the total for the Barclay's Bank reorganisation, year from 15 to 10 per cent.
with which it is running the Industrial issues managed to dividend on "B" shares,
rest overdrafts. bant aliare market.
be It is ex- Bank of England tried an ex-
'recalled that gain 2.54 points in the average "A"stock is being raised to pected that other banks may which, on the basis of actual the full status of a bank equity raise thelt fint dividends.
periment of this kind in order prices, meant a gain of 52 cents with the right to share in all
to reduce the British deficit in which is almost exactly the future increases in dividend.
JAPANESE RECOVER the European Payments Union, rise of Uo 65 stocks used in
Instead
but abandoned the scheme after of announcing. 18 all Dow Jones querages.
usual, a New Year Anal dividend, quietened at the close
gilt-edged securities their Barclay's are declaring a second week there was a recovery Incularly German, buyers."
of the that ensued from foreign, parti- Railroad shares had
interim on cach of their three Japanes: bonds. This was put classes of steck, and state there sown to the expectation of Her plan is to couple "hard" imports The Economist said another will be no further dividend for admission to the General Agres and
trade ment on Trailz and Thrills. countries with which Japan has
Tokyo Electrie £1 better on Friday.
Issues were a bllateral clearing agreement.
"In this way foreign trade In common with other foreign merchants will receive priority issues German bonds attracted import licences for such com-
le interest.
modlites as sugar, pulp and raw
third decline in four weeks.
small one-only cents--but is considered signi-
Was
л
flent by
33
ex-
those who had pected big things frem the corrler department.
Ulies rose 20 cents on the
1003.
The effect on the "B" slock, with a payment of nine per 'cent
week. The 65-stocks gained 5 New Tanker
cents.
Sales platted §.452,300 shares, a dany Everage of *1,200.460 | shares, against 5,742,700 shares in the previous week. The Jatter was a daily average of 1.435.080 shares.
More than half of the issues
trade showed gains. The rumber turned over was 1.413, the most since September 18, when the total was the same. Of this number 754 closed the week higher, 102 lower and 107 were unchanged.
was
·
Sailing From Yokohama
Tokyo, Oct. 25.
in few days and
owing the rush
exports
in
with
LAND, ETC.
.. 1240.00
.. 7.80
1.40
11 Hotel JK Land Bal Lond. Humphreys. UTILITIES
Them
Star Ferry
a 1000 7.90
17.10
20%
135
SL TO 1931, 13.70
C. Light (N) 0.50 0.00 1800 9.50 Electri * 27.0027.90 Telephone 22.00
INDUSTRIALS
Cement... 10.301800 Rope
STORES. ETC.
Watson
2736
23.30
L. Crawford 23.00 23.80
COTTONS
Textile Corp. 820 81% 3000
Indian Mission In Japan
Tokyo, Oct. 23.
On the Dominion and Colonial wool ir thoy sell increased Government stock front there quantities of irca and sicel was a somewhat firmer tendency products, ferilisers, whate-oll An Indian industrial Inspec- and occasional gains ef one-nd industrial equipment,
tion mission today pald eighth.
SPECIAL RIGHTS
courtesy call 'en Mr Nobuhiko
Big disappointment of the "Increased exports to the Ushiba, director of the Jopaheso week was the announcement of sterling area are to be rewarded Trade
The
They by special rights far importing Trade Distry's International
and
a cut in "Emmies." dropped to 12/10 Immediately dollar goods. This system is The mission, composed of 25 The Uraga Dock Company said But, after rallying to 137-, ended expected to cost up to 30 million members of The All-India today the 21,000-ton oil tanker, Friday with a net loss of dollars,"
Manufacturers Association. D. A. Canada, now under con-1710d.
In addition, various restric-arrived in Japan last night for struction for We British and
movement in stores tians on trade with the Near and tour of industrial plants in American oll
company, would shares was Irregular. While Middle East and Latin America Tokyo, Yokohama, Nagoya leave Yokohama early next "Gussies" continued to attract are to be. removed, and the Kansal districts. month on her maiden voyage to some attention, principal Interest Japanese Export-Import Bank A spokesman for the mission MUCH BETTER.
to grant said: "After the inspection lour, Long Beach, California.
centred on a further ris in has been empowered Despite the Wall Street inter-to
The tanker will make the trip Waring and Gllows by 1/0d to better credit terms to facultate we would like to confer with
California
Investments or sales pretation that
overseas, Japanese via the Persion 60/30.
trade the performance Gult.
leaders and STEEL SHARES
of com-Government officials and to foster imports
about a poor one, it was much
A. spokesman for the dock
modities that will help the ex-economie co-operation between better than had been expected
company said that 48 of the 61 On the toa market trading
port drive. in trading circles.
Japan and India."-Reuter, crew
members would be was flat and prices little changed. In view of the continued fal! Market men had looked' for a Japanese,
Monday brings publication of in Japan's sterling holdings, the The spokesman said a British the prospectus for United Steel authorities are anxious not to rise in the list. It has been
industrials set a new low since with the Yokohama branchi of being resold to the public December, and a special envoy July 20, 1051 and rails a new the Japan's Seamen's Union following denationalisation. is said to be arriving in London low since July 17, 1952.
covering the employment of The larger Anancial Institutions this south to sound out the In the period since September Japanese crew members.
will be substantial subscribers to British altitude towards conces- 14, the Industrial average has The spouseman sald the steel shares and payment
by sions. risca 18.05 points, railroad 6.36 spamen would be paid a monthly many of them is likely to be Japan
In
has been points and utility 2.74 points, lary of 100,000 yen (thout glit-edged alocks. The Industrial
average closed £100) to 50,000 yen (£50). The the week at a new high since pay would August 14 and rails since August seaman's- 21.
decline on the basis of the loand Amerlean all company had | Marketing-Grst of the steel wait until the trade talks withi rising since September 14 when signed a one-year agreement companies whose shares ore Britain, that are due
15
In
Jute Prices Increased
No exe
exception is being taken to so-called "swap deals," with the
London, Oct. 25, Japanese competition against Britain in Southeast Asia was the result of a calculated joint attack by the United States and Jupan, with the former ringleader, Moscow Radio said in its English broadcast tonight. In # programme called "the dollar shadow over Britain," the Radio quoted Mr Peter Thorney- Croft, British President of the
London, Oct. 20. Board of Trade, at the GATT States may help to speed up the would otherwise have gone to meeting in Geneva,
The price of raw jute in Bri- building of the plant at Avlies, a the existing blast furnaces and
securing tain is increased by £0 a ton statement that Brilafu was small
production at
against dollars by the from today following increases where dredgers Aviles at the expense of reduced "greally anxious" over Japanese Auresque town near the so only permit
are altering the course of the output elsewhere. Other experts
in Pakistan upon the the terms announced earlier in Bank of England, and will
export prices, the ple - them. magazine estuary-to-permit the steelworks say, however, that new cuking-
the
math. They were considered presumably want to continue Ministry of Materials announced. the Radio sald Wall to be laid out on the most suit-coal supplies will be developed
said Japanese favourable and
Increase, which applies to the resale is this hand-to-mouth method. But, Street was supplying 90 percent
able site.
and that the scrop position will
The reason for the irregular wages would be ball that being expected to be made without in addition, it is evident that the rudes of raw jute, restores This is low-lying land and become casier as a result of the of present foreign investments in
the price to the level ruing upturn this week was a long list paid to foreign crew members. difficulty.
Japanese will press for relax before October 5, 1953, the an Japan. With that hold, America the September high tides, com- and of hostilities in Korea.
of favourable corporation reports China Mail Special.
Concentration of attention onion of import restrictions in was directing Japanese exports bined with the equinoxiul gales
As both the steel and cement
and anticipation of more to come. into Southeast Aja, notably
lorded much of this year-
are
The big steel companies repor Pakistan, Burtta and
clamouring for India,
hence the necessity of elaborate industry ነገር
possible that in the coming week and their Japan's Delegation Ceylon
preparatory work tu lay the more coal, it is
income is expected to make an United States experts may miso
To Cotton Talks return for these heavy in-
factory
dry and
what
excellent, showing. The vestments, the Radio added, the foundations.
study help can be given
eto mobile ghans teport eath affer-
Tokyo, Oct. 25. The cement problem is largely Spain's coal Industry to step United States were claiming B
ward and their insome also is The Government bas op. of percent
Japanese mined question of new
giant for up production, which
This excellent, showing a sharp se pointed a seven-man delegation bauxite. tin, copper and
the International Colton lead, two big new, private enterprise 13,028,000 tons in 1952.
Tovar en year thus further to strengthen its
The main st of stocks held in Advisory Council opening" in factories which the Government is far below demand despite the grip on Japanese geotomy,
has authorised recently and the fact that it is 7,000,000,
a narrow urta for the most part Washington on November 2 By means of direct pressure on Asian countries, the Ameri-novation of equipment at out-greater than the 0,207,000 tons
extracted in 1035, the last year while the doleresting changes
were del special rues. Stools and international cotton agreement. cans were able to ensure mest
before the civil war. favourable
of steelmblers ruled freUnited Press. France-Presse, What the shortage,
to Spain can be seen by new direct
will bring the French
Japanest
example,
conditions
exports,
for
as, for In Burma, who under abolished Im-
such pressure,
last preferences May. Before this Japanese exports to Burma were subject to double the duly levied in British goods, Now the situation has changed and not in Britain's favour, the Radio said.--China Mail Special.
.
New Attempt On K-2
Rawalpindi, Oct. 25.
K-2 (Mount
ot
dated plants.
In
secure
IN SHORT SUPPLY
means this connection, United the fact that the
States help Cement,
may be valuable. large quantities
reached
མཐའ
tons
of which from Madrid to Burgos
wilch will be needed for work frontier 88 kilometres (about 51 on improvements to Spanish
miles) nearer to Madrid, was naval and air bases, is in shart finished over ten years ago but supply in Spain at present. In 1952,
production was only 2.4043 walling for steel rails. The "Zamora-Corunna rallway 900 tons, although the Govern- which will cut the time between ment aims at 4,500,000 (ons by Madrid and that Alantic purt 1850. In the meantime, is
by "Eix hours far fast trans possible that comes may be im also waiting for rails. A two- ported from Germany to bridge bund
hundred-kilometre (about 120 the gap.
long railway acress "Andalusia' linking and Jerez is ready for
The Aviles
steel plant has Southern
been the centre of a healed Grack to be laid. "
controversy in Spain in the past the trac few years.
On one
the world's second highest peak, | schemes that private enterprise gaming, extent,
years
of Geology, climbed on plant as well as riures.
ago with
can
auto-
the steel issue means that the Commonwealth countries.quement sak. issuing houses will not be very China Mail Special.
busy with other marketinge next week.
U.S. INFLUENCE
London, Oct. 25. Trieste, British Guiana inally Israci-Jordan
All were disagreenble phenomena to the
and
Weekly Bank Statement
London, Oct. 25. The Bank of England stalo-
*** The Ri Jule Control's selling prices of Imported jute' goods of hission types are corresponding- ly increased, but there is no change in their selling prices of imported heavy bags:-Heuter.
The meeting will discuss on stock market and combined on ment for the week ended Oct. 21, Exchange Rates
Novel Exhibition
In New York
New York, Oct. 25.
reads as follows: Friday to
a moderate Note in circulation caure exodus from some of the expensive shares.
Arme underlying tone
more
Bank ratio
Dualne was done in the local Bateriing 3,330,137,029 unometal exchange market this
27.002,058 | morning at the following ^rater:— 300,000,903) U.S, dollar (per 41) ́ 233,061,514) Sterling notes (per
Public deposit Private deposits Was Government securities Even the labour disputes Other securities were rather
Receipts doggedly ignored. One factor is Wall Street's new- found steadiness which caused many operators (and perhaps zome investors) to dismiss the idea of a
recession in the United
Cour-
Dla wi
changed interim dividend caused
Machine tools makers from 14 countries have tauld announcement of an un- been staging the world's first permanent tool show in an effort to boost sales and stimulate interna- tional trade.
"Both
LISTE
biene
..
the shares to fall 2/114 but this Wis exceptional. Imperial
No
1)
24,442,400 Indonesias guilders (per 1001
49.937.200 | Bam tenis, (per 1991
Reuter,
..
Singapore (stralia). Indo-China plastres (per 1991
Increase In
། ནཾ ་་
Price Of Synthetic
Planned By
By US
Washington, Oct. 25. The U.S. has no intention of raising its price for Government synthetic rubber despile' Malayan and Indonesian complaints that it is selling too low.
--“We are making a normal broft all that is justined and see no reason to increase the cost to Ameritan consumers," said an official.
Chemicals gained 1011⁄2 perice to a new high of 40 9d. but Vickers lost 10% pence, and An estimated 1,000 machines, engineers will demonstrate new Rolls-Royce ninepence: It was elde is the great large part of the existing
have been on display. They are machines, innovations for old all elective,
Britäh Government valued at $4,000,000. They were machlies, und new techniques
isstry, The Pakistan Government has apostle of the industrialisation permit the trains to run safely
atter weaving up and down all put on display at the budding and methods of operation. given permission to an Italian of Spain, Senor Juan Antonio at higher speeds.
week, closed unchanged apart expedition led by
"Machine Tool Centre." Professor Suanzes, head of the 11-year-old! in the spheres of industry and
100
and Mr Srybnik said manufacturers
that from a few Issues which gained Ardito Desio
Milan National Industrial Institute,
housting
svel and cement
of machine
Tools
Bull from 1/18 to 3/16. Among 'olls, tool makers, Univerally, to attempt to climb trouble-shooting"
stand to European crganisation Godwin Austen), which
undertakes Industrial shortages both hobble operations
but certainly froin this novel under-striving to overcome the effects Anglo-dranin fell 3/9d Burma to an unknown,
1/9c and Shell If United
sold Mr Louis Srybnik, of World War II, will find the Potroleum Vice-President of the centre a means of introducing Transport nine pence.
Asked whether the fact the The Congress in its recent next year.
docs not care to tackle and
Western get the Aviles Co. of Brooklyn, their products to the Professor Deslo, who is u
HOPES FADE which is building
synthetic plants were Govern- session the Aviles plant turning out its 350,000 Lant
provided that the Hemisphere and increasing professor
Hopes of a boomlet in Southment-operated did not contalo President appoint a three-men some of steel by the
end of 1955 New 27 mountain the 20,250-foot
It will give manufacturers the trade. 30 other industrial
Instead of at the end
"It's a sort of private point- African uranium shares and in the elements of some subsidies Commission to reenmunend by the Duke of
world over a permanent centre On the other side are agrarian of 1986, Spanish ecctomy wil!
the shares of Orange Free State tion which might account for January 1, 1955 how the plants
mines
complaints. developing
faded away foreign
official now circles who are afraid that in-receive a considerable fillip where they can exhibit and de-four programme," he added:
operated by the Govern- monstrate the latest develop The machine tool builder suid dustrialisation will draw workers China Mail Special.
gald: during the week.
ment should be disposed. menity and newest Ideas in that this might mean Increased
De Beers, the diamond pro- "Last year, from the land and ralse farm-
we made the Imachine
bompetition from foreign manu- band's wages; middle and upper
Britai but added also..will be able to facturers,
that ducers,'
gained two shilings to greatest profit in history on our How he asserted
| 02s. Od: it is still well below synthetic plants, a profit. We have experised concern over the progres aud exchange Ideas, de- "America's Industrial
turned its catlier penic of 72 shillings.
back to the Government, disposal of American syntheile marked
'by rigns and know-how with each has been
plants to private U.S.. Industry, "We pay local and strength has other, according to Mr Srybnik, petition."
the only tax we do not pay la Federal sold to the big tubbar consumers wag was one of the founders of • Participating in the project sor
points while exposition.
fararo manfacturers from the premium on dollar stocks has income tax. Even if you dedupt here who will keep the price of it from our profit last year, we synthetle artificially low in brdor same time, he added, United Stater, Italy, France, risen 1/2 to four per cent if" eliminate the need for
Japan, Japanese 1030 bonds lost made as large a proit as any to hold down the price of Germany buyers to travel, all over Sweden, Great
Austria this post work and several manufacturing organisation naturel
others lost 1 but all wer's should
The US. Onthetic industry li^ Congress guarded against this 25-ton German
to be sold
that it Alecentre, ho
Continued
changed--United Press.
!not agree-United Press. skilled technicians and sales putting tool-United Press.
Spoletto:
Ho is expected to make
attempt earlier than
his
did the unsuccessful American expedi
which Mr
tion under Dr Charies Houston class circles who fear that the Soviet Doctors To this year, during
Arthur Gilkey was killed in an
avalanche.
sation of
Spain ons
of
fa
a greater! or lesser
'from
and so will affect the Dr Houston has said it would value of their incomes be better to be ready for the investments
or Stato
final assault by the beginning of private aleel interest M
Attend Congress
זי
Both Indonesia and
"com-wall Stice by one, two in every place wo operato. Zup | saying they fear they will be ·
lifted dollar
three
:
Moscow, Oct. 25, A Soviet delegation is going to which Nice, on the French Riviera, fot competitor. In Medical Contress on Oct. 28, July, whereas he was not ready dislike a new unill the beginning of August what was a very cosy market; it was announced today
the world to inspect, compte tools displayed ranged fairly sendy
are Belgium and Dr. Houston I understood to other industrid interests 1 Willch Professor Anatole Nikolay have applied for permission to have their own to the delegation | post the vatíoils types move anderer aliems la pag markada and and spraid that and will be as opened 12 inching tools they négion of from a estonapiling machen Commen, Helen Loans lost 411905 Slid to late insulind avoid any he with when the
The peak has never been ton- Increased Industrialisation Constantin quered-China Mall Special, · resulting from bigger steel: pro- | Vrezse,
France
નવાબ
1955.