Pontiff Opens College In Rome
The Pope arrives in Rome from his summer residence at Castel Gandolfo to perform the opening ceremony at the unw North American College on the Janiculum #81). Rarely does a Pope attend ceremonies of this kind vulalde the Vatican, and on this occasion His Holiness was accompanied by 15 Cardinals. The new Collezo Han 347 rooms, and stands In 15 acter of park. The cost (nearly £1,500,000) was subscribed by American Cathollen.—Ex-
press Photo.
For
Preparations Completed
Queen's Historic Broadcast
Auckland, Oct. 26.
THE CHINA MAIL, TUESDAY, OCTOBER 27, 1958.
When Queen Elizabeth II makes her first Christmas broadcast outside England at 9 p.m. on December 25, her voice will be beamed to Britain over Antarctica or Japan.
over
down Hauraki After mouths of preparation. įbecause, like light, radio waves escort steam plans for the historie broadest travel in a straight fle. zig-Guir. bud anchor of Rangitote are now complete.
zagging between the earth and Island to take aboard port round As the Queen peaks from her the Ionosphere above, along the officials, radiu observers
their Government times of the Great Cintos, which the waterfront will begin kitting
In House here.
operation hortwave Use hortest ones Ever the
biggest
by vw.ly
a Parthi's curve betwe two describing the Royal progress,
eng month, New Zealand is almost
broadensis HIS possible ope many Britam the actual will be made "bye" -that is Posate
Deene ไป the opposite spot" is in Spain, near direct from the Gibralter--and the shortest dis-listening public. tances are over Jupon and over Antarctica.
¡L
th
transmitter th the Dominion,
broadcast both
kies telephone, will beam the spavel overseas, while the New Zealand Broadcasting Service will relay
throughout New Zealanti, It will be picked un by Australien rondensting Com mission shortwave service 351103 ro-broadenst
high powered shortwave station Radio Australia un a worldwide basis.
the
plats.
the The route over Japan Is shorter, being 11,800 miles com- pared with 13,400 miles ПУСТ Antarctica.
But it will not always be the In Beltain, the Britids Strond- better. Auroral interference may casting Corporation will pick anffect it and in that event the these brondensts
fr ite
on southern route will be used.
flickr own shortwave and both services.
រ
12
EIN
Briefed observers will describe the Royal drives through clues and towns, public welcomis and Incidents of special interest.
RARE HONOUR
TRADE and COMMERCE SECTION
Dilemma
Sharp Setback Grain Shippers
For British Firms' Hopes
}
Washingtoit, Oct. 26.
British firms ambitions to share the big money contracts awardell by the US. Govern- ment got a sharp knock with the news that Pre- sident Eisenhower is unwilling to fisk stirring up trouble among the protectionist Republicans of Congress.
He has decided not to order that the Buy American Act be relaxed.
of
Such Д move, inspired by criticism America's rojection of English Electric's low bid (£1,571,428) to help build the Chief Joseph Dam in the State of Washington, would have meant the wide opening of United States markets.
Under the Act, foreign flerns', wey of casing the Act's vuguely prices must be 25 per cent lower worded terms. than American,
of
It was thought that M. Esen-
Mr Eisenhower and som12 bis edvierts, particularly Whitehower would issue an Executive Order but the protections have House assistant Gabriel Iauge, were sympathetle to the fuss won out. that was rulsed when Britain
They want America's foreign lost that juley Dam contract.
Since last Spring they have trade polley unchanged until the Randall Commission, at present studying all aspects of trade and tariffs, makes its report and re- commendations next Murch,
been trying to work out
some
Japanese Making Bid
For Orders
From India
A COMPROMISE
A compromise has beck, bgreed Jon-Mr Elsenhower will ask the Depilinent chiefs to use the discretion allowed them by the regulations.
Thirly cargo silps, load- rd with 3,000,000 bushels of wheat from Canadianı prairies, are in the Port of Montreal today with nowhere to go.
They cannot unload be- cause grain elevators in Canada and Britain are congested, and the world's demand for wheat Haa faller recently.
Bhip owners any litfo
change is likely in the position before the freeze- up closes the port for the winter, so they have put crown to painting the Chips.
HONGKONG SHARE MARKET
BANKS
HK Bank Eest Ama
INSURANCES
Union Underwriters HK Fire
6 1010
Page
Importance Of Adjustments
U.S.
In
Economy
London, Oct. 26.
༥
The adjustments in EurUjjë diltälled by an American shift from security to protection, though potentially important in themselves, are as nothing to the adjustments involved in the U:S.
Perhaps the most important is a mental adjustment: since the Russians exploded their hydrogen weapon on August 12, the Americans are living with some possibilities for their home- land that they have never had to live with before.
not really constructive,
The financial
As the estimates of the spending next June may be $300 devastation to both Russia and milion to $350 million (7 to 9 the US. in hydrogen warfare percent) below
last June. run beyond belief, they would "Such a reduction." It says, not be pleasant things to live "could conceivably be offect, or with and might not be a good more than offset, by the private background for business. any spending: of additional dollars of morg than were the lesser disposable income made avail- horrors with which the Euro-able by tax relief, provided that peans had to live in the 1930s. consumer spending habits are (From Our Correspondent)
On this aspect one can but re-not unfavourably influenced by Business done on the Stock
pent that hydrogen bombs are recession psychology." Exchange this morning amount
Some analysts, however, look ed to $321,450.
adjustment Noon quota- would also be far-reaching.
At upon the expectation of in- tions and the morning's trans-least in the first instance, the creased consumption
expendi actions:--
Republican Administration could tures as little more than wishful They point out that SHARES DUYERS SELLERS SALES hardly financo a re-expansion of thinking.
the defence programme by in- plant and equipment expendi flationary enlargement of a prostures also appear to be headed pective budget deficit which it for at least a moderate decline already regards as far too big beginning in the fourth quarter and is striving to reduce. That of this year. With a reduceti being so, the re-expansion would income flow being generate be felt in production, but also from this source as well as from Government sector, they in taxes, psychology and poll- the tics. If the extra defence contend that it is unreasonable spending were offset by to expect personál consumption corresponding increase in taxes 10 rise. (above their otherwise level)
This would imply los neat a there would, in theory,
transition, they say, from the nett change nether beneit nor
output of one group of products detriment in production, prices (military equipment and capital or sales but merely a chift back goods) to a different group (con- 172040 from consumer goods to militarytumer goods). Rather, they be
and capital goods. In practice love that as a practical matter there might be a nett detriment: the friction the Americans would be
of adjustment, re which may
well affect consumer assuming both a financial and C. Light (0) 135 13.10 2000 * 13.60 |
from psychology, is likely to negate psychological burden C. Light (N) 99.00
the theoretical stimulus of tax which they thought they were to relief. Everything considered, il 27.70
be relieved.
would seem that the task of consumption *X-
enution One
STIPRING
DOCKS, ETC.
.. 1009 101
00215
3.50
100
Waterbost Asta Nav.
19.30
1.30 1.40
21
12.50 12x
7.00 .. 8129 Land. 1.40 Humphreys UTLITIES
02 8.00 $200 8.65 1000 m 8.60 10400
4400 63
17
6
Dock Provident Wheelock
It is hoped a more liberal in- ́terpretation of the Act will cul|LAND, ETC.
down discrimination against foreign firms,
The Buy American Act was drawn up during America's de pression to give domestic Arms preferential treatment Over In govern- |foreign competitors tent contracts,
Nk Land
Tram... 23.20 25.40 500 @ 23.30 Star Ferry
INDUSTRIALS
Extric .... 37.50 27.00 1400 Telephone .. 23.10
Rape .......
175
STORES, ETC.
17
con-
to
Dairy 33.2020.40 Wilson
2323.40 L. Crawford 23,60
COTTONS
END
are
be no
i forecast should be approach-
If, in an election year, Cement 18.30 1815 400 on 10.30 proved, impossible to finance
the extra defence spending fromed with great taxes or fram genuine savings night add that if the first charge there would certainly be a new on defence savings were not tax inflationary pressure but not reliefs but reduction of an exist necessarily a new inflation: you ing budget deficit (which might Instead have those worst present U.S. Treasury 2.00
of all business conditions, In would ceilataly prefer) Aationary Textile Corp. 0.40 0.1000 7 6.33
finance without the summer spending would be doubly 900004 inflationary psychology to traus- affected-China Mail Special. 2000 inte it into higher production,
The Rubber
Markets
Singapore, Oct. 26.
After opening steady the mar ket eased on lack of support and
levels on few oversta accept- closed slightly above the lowest ancés. Prices:
New Delhi, Oct. 28. Japan is making her first bid to supply rolling stook to India.
Takeo Haraguchi, representing Hitachi Limited, accompanied by
We House advisers, know- A. Mowakei, chief of the design- ing session of Hibachi, are in Newing, that Mr Elsenhower Is, pin- Delhi to meet officers of the ning all his hopes of getting con- Each will know what is gone on before the Queen
Indian Railway Board regarding excional approval for a more comes within his own arc of vision
supply of steam locomotives and liberal foreign trade policy on from spare boilers for use on Indian-the-Randall Commission (its and the change-over observer to observer
members include 10 be always will ALI. PRECAUTIONS
of The Government India grecsmen) thought it safer made smoothly. As New Zealand Omo is
needs more than 200 locomo make a retreat Just
now rather To safeguard against inter-
To ensure spoutincity and he hours ahead of Greenwich Mean
long-term tives of various types.
than prejudice their ference, the speech will
"live" broadcasts.. ast actuality of The Queen's broadenst
Other nations represented here
erances. transmitted over the direct New Thine,
three or four relay lines will be
ne Canada, the United Kingdom. Zebland-London radio-telephone will be picked up in London at
Whether the Act wiit ultimate- It will be re-broadest used, while on the first day i
Germany and other continental
ly be changed depends on the transmitter at the new powerful am.
50 lines Brondensting Auckland upwards of the British
countries. Himatangi station in the North by
recommendallons. Corporation to worldwide will be in operation.
Mr Haraguchi told the United Commission's
then, Island of New Zealand, and over
the Spring,
Mr veil Two standard moving
was the Until now Prass that India audience as the elimax to two Royal Navy Aristers sunt
ax
microphones of British
good intentions munu- Christmas
biggest market for rolling stock Esenhower's afternoon Walouru also
the North
facture, round-the-world programme.
mounted together, will for international bidding. Japan are pigeonholed. Island.
the Queen must get into the market as soon Antulcan industries will press Every possible precaution is used wherever Other radio-telephone chan-
broadcasts in New Zealand, ex- as possible or lose her daim as a the tarif commission to sup- nels will be used if required by
being taken against the possibl
copt when she speaks from first-class momufacturer of rolling port the claims that these other Commonwealth countries, i
of a breakdown in arrange- Hy
Government House, Auckland,
and, stock. ments: POLAR AURORAS
He explained that because of being seriously hurt by foreign strengtherica by One of the problems which
At Government House, on Christmas Day, when two of the new Himatangi facilities will be duplicated, in-single microphones will be used the war and the need for re competition designers
New Zealanders regard it as a
and later by the concessions granted in recent habilitation radie station have had to face is eluding microphones, amplibers,
this first needs of the Korean war, Japan years.London Express Service. outlines the stuchos. A rare honour that
to the power-abeorbing curoras of
will be broadcast of the Monarch's could not afford to enter inter- before this the North and, South Poles, sudby power plant
traditional Christmas message to
onal markets
This
wo have year time. which tend to weaken the force ready in care of emergency,
the Commonwealth from outside Two lines will carry the
seriously offered our best terms of signals,
bc 9 brandea to Wellhagen each bythe United Kingdom is to
Indian Railway Board te of beatleast. The pm, was chosen at the hope of a differrat srute, so that if one nude from their land.
A fortnight after the Christ-
and we hope to
to get orders." avoiding lite au perd of should fail, the other would still
mus speech, the Queen whil
who is direc- activity and ensuring
Mir Roothe cpen.
Australia, the monitoring open a session of the House of In
oversens office tur of the direct reception of the brendens,
in Wellington, stailon at Quartz fill will also Representatives will be t
Hitachi, said that friendstilp, be plek up the broadcast from IYA, and again for the first time, a
tween India and Japan Sovereign's Speech a reigning nct as It is impossible "logo" Auckland, and
10
be stepped up by more Legisla the from the Throne in a
level. the arcas of the aurora-zrtvy supplementary channel
Radio New Zealand shortwave ture outside Westminster will
la to try. to
New York, Oct. 20. which will send be broadcost to unseen millions
and friend- transmitters,
A
higher few of her peoples in other countries,
specialties the broadcast on, to Sydney,
Silp between the two countries. The Governor-General,
This could not be done by featured a generally lower stook Willoughby Norrie, has
rald
talking Incrc
should be market today. aust this that
speech, Jike the
proved by
Rails led the main body of by deeds, Queen's Christmas message, will Hitachi already has supplied stocks lower with losses ranging
worldwide given
radio
big turbine generator to the
to a point. Olls lost heavily in coverage.
Madias State Government. The the industrials, and utilities had basis No. 1 iss machine has been delivered and few drops. The loss was the started
at Maduro, working Jamous temple city south of overall decline in the stock October 13. I Madras, The Madras Govern market since
WDS accompanied by the best reported inent
its cfficiency volume in a week-1,340,000 proved to be more than 10 per shares agains! cent better than the guarantee by the manufacturer.
Hilachi wants to sell riot only rolling stock but also
in England, where
a.m.
The
with
Fashion Note In
Moscow
will
CHIEF HAZARD
to
The chiof hazard to Beteners outside New Zealand would be interference during transmission to Australia, but this has been safeguarded against by choosing
frequencies transmission the greatest cart.
be
116
Sir
to the
KAT PLAN
changes on an Hitachi's promote
economic
of
could
ex-
hydra
NEW YORK
STOCK MARKET
on Friday.
1,330,000 shares
No. 1 rubber per lb.
November
December
January
561-503
531-55%
No. 2 rubber por lh, Nov. 54-55 No. 3 rubber per lb. Nov. 52-431 No. 4 rubber per . Nov. 563-5912 Spot rubber, unbaled
Blanket crepe ́..
No. 1 pale crepe
1440
63-65 United Press.
LONDON MARKET
higher
prices and higher sales. On the political side along, the
of spectacle the Republicans being forced, info trying to beat the Democrats at the Inflationary game might be too much not culy for some of the Republican Administration's business sup- port:rs but also for soma mem- bers of the Administration itself,
That was Dr Nourse' case against-facile "reflation")
NOT RECONCILED
Such a situation would not be reached without some, serious
the
teamt con-
Dull Trading
In Cotton
New York, Oct. 26. Colton futures trading today (proved djöfler featureless session with the smallest volume in two months.
The list ruled nine points
controversy or even dissension higher to four points, tower. within the Republican Cabinet Opening prices were unchanged The voters might feel that It three points lower. New up eight to 11 they are to have soft money all Orleans closed over again, they had better have polnis, It from Democrats who believe In it than frem Republicans who dion"1.
Prices of cotton futures closed as follows.c
Oct
Assuredly the Administration Spot has not yet reconelled itself to c
March 1954 scft money. Only last week, in May announcing that the Administra-July lion wants to extend the 52 per Dec. 10%-10% cent corporate income tax rate Matchs 1055
lapsing excise taxes, 10%-20% Dnd the 18-192) Treatury Stevetary Humphrey 1492-101
fold the
the New York bankers that 1822-17
they must be ready to keep the
London, Oct. 20. The rubber market was quiet with, No. 1 Rss spot quoted at 16-5/10 pence per ib: Spot No.. R....
Settlement House terms: Nov. Dec. Jan./March April/tune July/Sept.
Extate crepe, thick
thin
1032-1736
23.00
7.37-00
33.34-37
33.00
33.04-05
32.05 nom. 33.02 bla United Press.
lei-le money market virile, active and New York Sugar
unquoted on both the buying and i unquoted selling sides: United Pren.
20.23
Market
New York, Oct. 20.
futuro No. 4
In the past, the Sovereign's with message has been recorded In
"You must be ready to take Commonwealth countries at the
NEW YORK MARKET the rap as well as to reap the Engineers of all co-operating time the "live" broadcast and
re-transmitted
gain of fluctuations in the mar- Fervices believe, that the tech-
delayed
New York, Oct. 26.1 ket. If you are not, then all we World sugar London, Oct. 28. nique is as proof against mis- broadcast at times to suit each
Rubber fultires today clotet have been saying about wanting closed today unchanged to three Sharter
skirts for Russlan hups as ingenuity can devise. country. This year, the process
15-23 points lower with sales of to return to Ergo enter Brise, arid points, higher with sales of 8 women are forecast today by Arrangements are now alrus reversed, at any rate for New "Nows of the Week Moscow complete for general broadcast Zealand and Australia.
Automobiles stood sharply one contract, Dullness in the all we have been clubising in contracts.
futures market was. Darülleled regulation amul restramt has been The
duration of "Home, Service" Radio magazhic. coverage of the 40-day Tour of
the broadcasts
power plant equipment to India the upside, however, by way of by an equal lack of consumer i just conversation."
Domestic No. O sugar futures mostly They will
be 30 New Zealand by the Queen and is nol yet known, but the
wide gain in Briggs Manterest in the spot market.
It might really sigus for closed unchanged to 2 points (15 daches) from the Duke of Edinburgh.
Queen's speech at the opening Mr Haraguchi plans to meet facturing. Steels comimstres
moved frac-
Dealers quoted No. 1 Rre spot bustless sentiment it, thefte higher with sales of 11 contrácia. the ground, the Radio call.
the Finance Minister and mein-tonally higher as the img Experts have been working on of Parliament on January 12 is
around 2014 cents
# pound publkan devotion b sound Prices! than her bers of the Planning
Com item was dealing the plans for more than a year, likely to be shorter news
nears for the leading companies nomina).
money turned out to have been mission to understand the re-
Dec. House of and in the The Moscow
anonths Christmas broadcast.
to make their third quarter ro past five
Just conversation. Most 'serious Fashions and the Moscow their
Manufacturing, There have
for hydro beer
been unofficial | quirements
power port. Briggs development has
adjustment of all might be the that the
the five-your Speech under Intensified.
Suggestions fashion show.
plan-second most active
economic and production ad- Okunevu,
United Press. · the of Mr N. A.
be cut Two
Within the defence Justment. sponded to newa that Chrysler of the planners, Mr from the Throne may Fashions,
to
its showed
automobile Aboul fiva minutes. the ad-down
le purchasing. Marshall, on Cooper
progmmme, a major strategy Umes ranging winter models do ministrative side, and Mr Nor-compared with
plarits and equipment. for $33,-
shift from security either to 000,000. The stock ran six
up.
continental protection or. to the Radio correspondent
man Johnston, on the technical, from 35 to 40 minutes taken in described the
points on an opening pile-up
negotiation with, the Russians the recent years for the reading of
March 93 early visited every stop on "simple und natural" for both Queen's
of orders, then backed down to selected the Governor-General's specch Itinerary,
May involve some readjust- would ments which might verge close at $44, up 2%. Chrysler:
July on rrien and women.
observation polnis and tackled at the opening of a new session.
Sept. technical problems.
between dislocations, os
cob- Nov. tractors for conventional woo- pons and their supporting in dustries on the one hand and contractors for atomic weapons
House of
autumn and
wha
new
line
"Square shoulders have disap- peared. There are no more unnaturally wide sleeves and the wide slacks of the immensely
men have also vanished."
ore
USEFUL GUIDE
Canadian metiods for brond-
casting the Royal couplo's tour Flared skirts and simple pleats here in 2051 have been a
recommended
the useful guide in helping to ensure younger women; "a narrow skirt that no way of giving the best still remains fashionable."
to
the
coverage has been overlooked.
P
China Mall Special.
Warning Given To
Distributors
sending
LONDON TIN MARKET
London, Oct. 26. The fin market was firm. Turnover was 75 tons of whith five tons were for cash. Tin, spot buyers
ellers Business
3-month tin, buyers
sellers Business Settlement
02213 024 62211
G0114
March 1954
May
re-
July
Beat,
Dec.
20,35 bid 20.33 blá
20.39 bid 20.30 bid United Press.
AMSTERDÁM MÁRKET
Amaterdum, Oct. 20.. The rubber market was steady. No. 1 rubber per ib. Nov. 1.04 Exayers up around a point at one time,o. 3 rubber per 1b. Now, 1nt buyers cicned just Higher at 8074: No. 3 rubber gar ib. Nov. 1.06 players No. 1 crepa rubber per in, 177 buyers
-United Press.
The purchase was seen as a reflection of the automobile in- dustry's preparation for shar- pening competition.
605-60215 Of 1,102 issiles traded 407 closed lower (two to new lows) „United Press. 345 higher: (with, 10 at new
highs) and 300 unchanged.
Cape Town, Oct. 28, The South African Ministry of "During this season, shorter... Mr
Mr. Gilbert Stringer, of the the Inferior las warned South skirts for everyday use wil be New Zealand Broadcasting Ser- African distributors that British
administrative stoff, publishers They are adjusted vice's in fashion.
peculiarities of each visited Canidin on way home
Imperial
Relations nudes. figure. Special styles have been from an created to conceal slouiness. Trust bursary tour, and learnt For the past six months such Turn-up collars will help to about the techniques used by photographs have had to be of the Canadian Broadcasting Cor-removed from all copies of one change
the
appearance
| well-kłowni "British" ritgazino || starting notes (par. 21). dresses, the Radio commentator poration.
"On the morning of Wednes- bofore it was lied on the cald. Gloss beads, sequins, rib-. bons and braking will be won, day, lincs Gothle and its naval Mail Special.
December 23, when the South African market-China Royal Chine Mall Special.
me magazines with photograpne Exchange Rates Dow Jones closing averages
な
London Foreign their supply chain on the
Exchange
New York Blontreal 274.43 Ameterdárn
20.37.88
0.04 Zurich... 104.04 | Copenhagen
08.07 Stockholm 137,94 burg.
Ialomiced United Presa.
20, Industriais. Business was done in the focal 20 roji
exchange market noticia morning at the following ratos
8. deitar (per $1
this 16, utilities
85 sideks
14:212
10 bonds
Indonesian guliders. (per, 100)
10.40
Blam Tical:;((per“ 100)
$1,00
Comm. future price
Bingapore (Berults).
1.78
Index
Indo-China plartres (per 200)
London: Oct, 20.
2.511 16:2618/10 2.TE 10
5.10′′
1-150/10 United Press,
FRICTION ENTAILED Within tho
whole economy, shifts between the military and the civilian sector entall frie-i tional, "ädjustments which can besc
milltary and even when, the aggregate civilian spending combined to supposed to be held at on tin- changed high level.
Contract No. 4 (world)
Jan. 1034
March
May
July
Sept.
Spat-teents par 15. tab
Cube)
Contract No. 01
Jan. 19:34
6.00
0.02 6.00 bid
Spot-(cents per 1b, cif
NY ax-cock)
6.20
United Press.
JAPANESE BONDS
London, Oct, 20,
Japanese 'bonds:
HAH, (48) of, 1809) "B" (48, of 1910) "C" (50. of 1907) "D" (B5, of 1024) 42% (5429 at 1030)
7496 184 -10314 ∙100
"F" (Tokyo D3⁄41⁄2s of 1926) -.-.
20 034% "G". (Tokyo Bz-of-1012),193/
63-11/10
The Guaranty Trust has put this point well in discussing Consols
estimates that defenea some
United Press,