London Zoo Elephant Helps Herself
THE CHINA MAIL, TUESDAY, NOVEMBER 10, 1953.
Dicksle, an African elephant at the London Zoo, doesn't believe in leiting an oppor- tunity for some exitu rations go by, and here the photographer catches her as she selects nlee cabbage from the barrów while the keeper's back is turned. — Reuterphoto.
A
French Government Annoyed
By British Trade
Autumn Election
In Miniature
One effect of Parlia ment's long summer Recess has been an accumulation
of by-elections, Four are now pending, forming 4 miniature antuma ricc- tion.
ron-
Twn of the N14 cerned, Crosby and Orms- kirk, arr impregnably Conservative, with major- itles last time of 14,783 and
18.821 respectively.
The two other vacant seats provide a prospect of Uveller electourering. Hot- burn and St. Pancras South was in 1951 held by the late Mr S. W. Jezer for Labour with majority of k only 1,759 - and this in a three-carnered light with the Liberal candidate pell- Ing 1.636. Paddington North, which is being vacated by Me W.-J. Field, was held for Labour at the last election by 4.080.
Mystery Play
Will Tour
York Streets
A wagon will clatter through the streets of York next year, portraying the Bible story of the Flood as it was to li. the cit,] 400 years ago.
Policy
Paris, Nov. 9.
TRADE and COMMERCE SECTION
Page
London Stock Market The Rubber NEW YORK
Has Busiest Period
Deadlock
In Tin
Talks
悲
Washington, Nov. 9. Authoritative sources said tonight that the United States and Indonesia still are deadlocked in their negotia- tions concerning possible American purchases of In-
donesian tin next year.
An Indonesian in delegatien has been here for more than
In Two Years
(FROM OUR OWN CORRESPONDENT). London, Nov. 9.
The past week has been the busiest London Stock Exchange has experienced for two and half years. But, though industrial share prices continued to forge ahead, it was the gilt-edged market that provided the main interest.
It had been generally expected that gilt-edged prices would remain more or less static until next Monday as certain Government stocks can be offered at fixed prices for the £14 million of or- dinary shares in the denationalised United Steel companies.
But
this was not the care.
fortnight trying to reach some agreement with officials of the Reconstruction Finance Cor-The steel operation provided the poration, which buys tin for the Boor to the gilt-edged market
but not the coiling. United States.
The Intencsian's have made a formal offer to sell in to the United States under the same formula worked out this year
for Bolivian tin.. -Hàwever, re for, the United Stutes Ins
French police and French diplomats are fighting a double battle against the disastrous refused to agree
effects on the French Commonwealth of a "too favourable" British attitude in trading
with Japan, the Iron Curtain and Germany,
The hard hargaining attitude
the
U.S..
ot
according qualified officials, is due to the fact that the U.S. stockpile of
to
Al the sam: Lme the October rive in the gold reserves-though smaller than expected-proved a definite encouragcitent.
But the chief factor in the rise of gilt-edged prices tems to have been the apread of the investment movement that has been going on in the Stuck Exchange to the gill - edged market.
Gains of over
HONGKONG SHARE MARKET
(From Our Correspondant)
Business done on the Stock Exchange this morning amount- ed 10 $349,800.00. Noon quota-
transactions:- War
51 were
It looks, in fact, as though the traditional is at 100 per cent of its goal and there is no pressing nced close friendship between the two greatest Com-
for any Indonesian tin unless it recorded in four per cent Consuls 90s and the morning's monwealths in the world--the French and the
be bought at "bargain" and Gas three per cent. British-is going through its roughest time for years.
The Diplomatie Wi the Police actions in this dispute- with many nition of
pounds and much godwill at stake-. are hese:
The Diplomatie:
-policy
"Colonies
Like A
Trapeze
Artist":
la Paris and Om birey, Aur tralia, the French have started potest alles against a British Commonwealth trade Wh. Pranve perbling her own commerce,
In the past year,
The Jap arese have almost doubled their Austrailan
woot purchas During the same time, Frater's exports
Australia ไป
have Many British colonies are dropped by nearly,
two-thirds. like a trapeze artist, she has bought one-lifth more Australian goes, accord-balanced on top of a ladder, Ing to the French.
with nowhere to step off. "Farkest
comment
the on situation comes froam
A Socialist peer, Lord.Ogmore, the French Chamber of Commerce said this in the House of Lords in Australia, which says in its when he asked for closer tsc- local bulletin,
inviation between Britain, and her Paris:
overseas territories.
can
inercased
prices.
Lean 3 per cent was up 17/66, SHARES BUYERS SELLERS SALES The U.S. and Indonesia în and 2 per cent Consols put on March 1952 mode an agreement | 15/-. under which the Americans
In the equity market, paper would purchase 20.000 tons per year of Indonesian in for the shares 'stole mest of the limelight. INSURANCES
nity A sharply next three years at a "mutually agreed price" During the rst dividend from the papermakers The Albert E. Reed and Co. started Two years of the contract agreed price has been $1.21 ob the boom. Share in this com- SHIPPING New York.
pany Jumped 13/0d.
Among The
other paper shares Bewater
37-and advanced
*
Indonesians now arc
interested in getting agreement Wiggins, Teape 5/3d.
on the al 'year of the con- tract which begins next March. They have offered to supply un under the so-called "Boliviar formula.".
ON AVERAGE
Good
WALL ST. RALLY
This formuja provides that spurt in the price of any indivdu sing highest point meni of tin shall be determined
DANKS
UK Bank East Asia
... 1500 13:5
$70
interim
Lombard
Unien XD
GD 50% 1000 m 30
045
360 JO
Waterbuat Asia Nov
DOCKS, ETC.
20
1.33
Provident (0) 12.70 (N) 11.00
Wheelock
LAND, ETC. HK Hotel
Markets FOREIGN
Bingapore, Nov. 0.
The market remninere fairly EXCHANGE
stendy throughout the day.
There was same trade und
factory Interest. Pricks:
No I rubber Duy H. Nay, trai cangdi
M-504
January
90-30%
No. 2 rubber per lb. Nov. 04-6332 No rubber per ib. Nov, 23-5312
| England-official
New York, Nov.
1.02 2,00
30-day future
No. 4. rubber per ib. Nov. 473-419 Autralin 10-ny future
Spot rubber unhaled
Blöriken grepe.
No. 1 pale crepe....
331-36 New Zealand
44-53% Routh Africa 02-08
-United Press.
LONDON MARKET
Belglun
Deniack
France
Germany Holland
London, Nov., D. The rubber market was stendy aly with No. 1 Rs9 zpot quotext at Norway 16-11/10 pence per lb. Settlement floure turkiy
No. 1 R ...
December January/March April/June
duty/September C.i.f. basis ports, Nov.
Dec.
Jan.
Estate Crepe thick
Thin
Prices: Portugal
10~102 Spain
10%-10
104-10} 17-307
Sweden
Bilzerland
17-18 | Middle East
17-10 Egypt
10%-1614 | Iraq
1085-163% Iran
inquoted Turkey
189
United Press, Latin Amerles
Argentina
JAPANESE BONDS B
London, Nov, D..
2.001
Japanese bond
Chic Columbia Cuba
"A" (4s of 1899) "B" (4s of 1910) "C" (55 of 1907) "p" (6 of 1924) "E" (5% of 1930) " (Tokyo 61⁄2s of
72
Mexico
Uruguay
4020
.1154 1059
05
Venezuela
3400%
114/2
2003
874
140
Far East
Indla
Pakitza
1920)
704 Hongkong
85
045%
United Press.
Japan
"G" (Tokyo 59 of 1912) Conrols
Indonesin
Singepere
2120
1320)
300 yen to US$:
United Pren.
Gold Reserves:
Plain Hint Of Trouble Ahead
(FROM OUR OWN CORRESPONDENT)
London, Nov. 9. October was another golden month for the 8.50 1.05 100 ut 8. sterling area. In that month, for the first time
1500 » 12.BD
200 11.00
71% 7.05 5000 7 по - Land
300 | NI Shat Landl 1,40 1 Humphreys .. 10:30 10.00 1000 y 1811⁄2
1000 6 25.40 300 23.50
Tram ..... 23.40
Star Ferry 138 C. Light" (0) 13,70
Electric
... 27.40
Minero Elec 190 Telephone. 24.80
1230
company reports and be ter new's
frem Wall Street helpful" other sections of the in- dustrial share market and caused | UTILITIES
prices that carried the Financial Times index to its of the year at W | mid-week. the upon the average between
Building material shores were the sput New York price and
nellve on news that the Govern- three-month future price. The
mant intends to take action to future price on the New York
assist landlords to keep their market is usually three
property in good repair. below the spot price.
But, before the week-end, the Tin at present sells in Newmarket had other things to think York on a nearby "basis"
The trouble in Trieste about. 12/2 He had tabled a question ask-
cents
pound while
was an unreliling factor and the ing "whether in view of the the three-month future price is rejection by the employers of the CONS "Considering_the_facts_ that fuetthat_many_colonial_ter-.80 cents.. our two countries have always ritories cannot In the foresce-
The Indonesian and American engineering unions demand for a 15 per cent wage increase led. been on the best of terms, a able future become independent vegotiators did not even meet to fears of unrest on the labour friendship sealed In blood mer
members of the Commonwealth
this week front. with each other during
world two
wars, iter croncmic, multi-celed or Instead they exchanged letters. seems to us that, on sentiment other causes," the Government
reprinted
THE IMPLICATION
1er-
King-
alane, better treatment shouki would make proposals for the be given to us when it comes clover association for such
between to choosing
French ritories with the United goods and imports frem former dem. enemies of Australia,"
per
centr
al
INDUSTRIALS
Cement STORES, ETC.
10
48 27.30
LONDON TIN MARKET
in nearly two years, its dollar reserves rose above $2,500 million,
But through the autumn gold there was a plain hint of a chilly winter ahead.
The sum of $34 million was added to the reserves in October-twice as much as in September. This included 50000 $13 million of American defence aid and the receipt of $6 1500 2740 million in part settlement of the sterling area's surplus
200 a 14.00 with the European Payments Union in September.
300 23.10
The residue of $15 million The level of commodity prices consisted largely of the area'a has an especial influence on the direct dollar carnings from ita stering area's dollar carnings. Dalty ...... 23.00 23.20
For, besides 23 500 a 22.00 trade with North America. Watson
22.80
carning dollurs L. Crawford 23.30
On the surface these figures direot from Neth America, seem reasonably satisfactory. But sterting commnody exports are Ewo.. .... 2.40 24% Textile Corp. 6.60
the danger shows up in that port also
for a large part 0.15 Yangisze
of its dollarTM payments which re- Tofars gained from Blect the sterling area's trade Western Europe since half of any with Western Europe.
surplus camned by the sterling The gold payments that were countries in their trade with this made to the European Payments area is now received in gold. The Indonesian letter pointed The market was also hit by
Union in August and. September out that the U.S. is under the news that Tube Investments
Unfortunately, however, at the resulted from a normal seasonal Jast ably less in their obligation to buy 20,000 tons made
rise in touris expenditure on the very time of year when the do- This went next year at on
year. Frice? Arancla
Continent In the peak holiday mand for rome of the most im- and added that it appear sharply against the recent trend
London, Nov.
portant months of July and August,
sterling The wagon will stop at three
commodies only just that Indonesia be of company results.
What is so points
disconcerting is normally begins its seasonal rise, The tin market was quiet. Spot 31 drun 111729
bulletin points mentury The French
A fall of 20 per cent in the fell £14 to 20214, and three that this has not been followed prices have again shown weak- trumpet will call the people
given the same pricing formula as that accorded Bolivia.
company's net trading profit put together and the players will out that the 10,000,000 bales of State for the Colonies, told han
meczihts £13⁄4 to £600% per long by the favourable trend that the ness. it would hopes that which
The American Government paid to zccumulated ernet the story of Noah and the wool.
that it was still the Govern-
area normally expects by
the inercaseIts dividend. not sold Ark. The play will be part of during the war were
nient's policy to give all colonial replied that it was
The dividend
in its overseas trade at this time Australia to the city's 1854 Festival and also
other territories the greatest possible
cbligation of the U.S. Govern- event
of yea
year. of York's Cycle of Mystery the five years which followed, meni. They did not,
than Japon. Furthermore, in degree of internal self-govera-
ment to accept that agreement. unchanged at 15 per cent but
the shares slumped' 5/-, However, Plays.
according to Indo-
Despite this reminder that the totul Australian wool clip think it possible to define that
nesian officials, the US made
profits are not always to The was seld without
no counter general policy statement
- proposals. Jepancre purchases,
closely in terms that would action of the Indonesian Govern- be expected, the market is now
Business present ment cn
la an wondering whether the Wednesday So why, ask the French, why cpply everywhere,
to wave of Investment demand will does Australia, now nced to
nouncing it was prepared!
for selling push equity prices past the post- negotiate dical
Q sell to Japan in order, as they say, to buy from the Japanese? of Munster, varled greatly from rubber to Red China in order to war peak reached early in 1947.
The implication. the territory to territory and the eliminate its "dependence"
say
the not helped arrangements for each hud to the US. has French, is that Australia
current tin negotiations here in selling wool to Japan to
view of advantage of Japan's cheaper, but poorer, exports at the cost
authorities.
They said the U.S. views such
when
Originally, all the plays in the Cycle, were acted of wagons, with different- guilds inking different sections.
Spectators remained, at my sile and
saw various rectes enacted, then ore wagon moved on and way replaced by that of another guild, portraying another part of the Bible story,
countries
מכים !
COLOSSAL LOSSES
ef
The Earl of Munstor, Paris- Under-Secretary of
however,
Circumstances, said the
more
Earl
of be decrmined in the light take
local conditions and the views the of the inhabit cri's.
Next year, however, the Cycle of her European friends, France of Mystery Plays wh]] beinaluced. portrayed, an during the 1951 Festival, in the Muscum Gar- dens, and only the story of Noah with be token through the sheets in medineval style.
Ceremonies In
Ankara
Anicara, Nov. 9. ceremonies
The Police:
Lord Ogmore pointed out
On
diplomatic
that he was not talking about as announcement as an attempt
Internal
self-government but
about closer association between the colonies and the rest of the Commonwealth.
In France's West African
This drew the ecial response: colonies two sentor inspectors" There
continua There has been a
of the Paris Surete's Financial constitutional advance in almost Branch have been making a every single colony throughout speelal investigation.
Commonwealth and Empire. They now
that the assert French Government is losing not less #har £50,000,000
#
ing to their report-at under review by Government dit-t|
present French
appeurs that French West | African traders are buying Will Japanese, Tron Curtain and mark the transfer on November German goods at "unbeatable
Impressive
10 of the remains
of Ataturk, prices from the
founder of the Turkish Republic, African colonies.
from a temporary resting place In Ankara to a massive mausoleum on the outskirts of the capital. November 10 -the
is death anniversary of Atelurk'a In 1929...
British West
the
The Earl of Munster agree! with another questioner that when he had spoken of "internal
the had self-government" mind "ultimate self-government,"
Asia's Largest Observatory
int
to apply pressure" on
bigger
9.
In the ton. Turnever was 25 tons of
which five tons were for cath. was
Closing prices at the end of the affelst merning restion
Spot tin, buyers
sellers
Commodities In America
Business A 3-months tin, buyers
sellers
Settlement
020.
terling
These recont downward price movements may not be very
The gold recovered from the serious in themselves. But they 622 European Payments Union last show that the decline of prices month lends to distort the pic which has been going on ever since the end of the Korean What happened was no boom has not yet worked itself ces that the sterling area swung out. back into urplus with Western Out Europe but that France paid an annual instalment in September
020
00715
620
tuire.
United Press.
London Metals
Tho result is that buyers--in.
as well as In Western Europe
only of £8,700,000 on lis 1945 loan America are taking up
their immediato. requirements from the United Kingdom.
and waiting until prices touch before replenishing
bottom
stocks,
OMINOUS WARNING
So far as American buying of
REAL REASON
London. Nov. 0.
Without that payment
the Lead and zine markets were sterling area would have been. steady while copper was rather in deficit with the European dull and prices moved lower. Payments Union in September to Turnovers were 250, 950 and the tune of $12 million so that, sterling, commodities is concerned New York, Nov. 1. American Government to
a more omincuis warning, has Buoyancy in eccoa and grains 750 tons, respectively" for lead, instead of receiving $8 million negotiate more readily with the Indonesians and on more favour-Joined the recovery in colton to zinc and copper.
Closing prices:- price able terms, and resent such a highlight the commodity
picture today. manoeuvre-United Press.
Lend Nov. Feb. reached stasonal zine Nov, Soyboung
and March Feb highs for January deliveries on a buying splurge Copper spot Inspired by heavy impoundings under the lon.
New York
Market
Sugar
New York, Nov. 9.
futures World No. 4 sugar closed unchanged to one point higher with sales of 00 con- tracts,
In gold from the Union in been sounded. For the disap- gold October it would have had to pointing failure of the sollers
Copay that amount.
buyers
75
DAYS
7515
2014
272
233
220
At Chicago, wheat closed up 12% to oc is cent, szybrane
33% to five cents.
up
Exchange Rates Union.
At Winnipeg, wheat was priced
reserves to expand or sharply
the gold doca
not
as expected in. October coincidett with a drop in American In- It might have been possible to overlook this after alt Septem-dustrial production to four per 22015 ber is a popular month for holi- cent below its high level of lest -United Press, days abroad, too-but for the Spring.
that suggests éven it fact that last month the sterling] arca was again deep in the red prices do show signs of recover- with the European
It will not be an easy matter Payments ing
to expand sales of sterling raw Tourist spending on the Con- materials to America
The outlook for Business was done in the local tinent could certainly not ac-
exchang market this count for the £10,000,000 "map" zeer very therefore
Sales of at 182% cents per bushel for unonicial
that appeared in the sterling No. morning at the following rates: No. 3 Northern, and for
US dollar.... (per- $1).
15. area payments with Western sterling commodities should Domestic No. 6 sugar futures 3. it was at 165 cents—Unlled | Bierling notes (per £11.
certainly bring in more dollars closed unchanged to three Press.
Indonesart guilders (per 1003 1050 Europe in October. Biam,ticals (per 100)
Reason for the October deficit in November but points lower with sales of 102
| Singapore ;' (Biraits) *..
433-which will necessate a gold begins with a contracts.
Indo-China plastres (per 100)
to a result payment of $15 million to the handicap
"with EP.U. this month-les in the October defeit Contract No. 4 (world)
European Payments Units. trend of sterling commodity Jan. 1954.
In December an annual
United
Upot-(cents per
"fob Cuba)
Tokyo, Nov. 9, These goods, smuggled neroJA French African borders, avold Tho Japanese Education customs and direct and indirect Ministry is planning to build the taxation "to
enormous largest astronomical observatory, desrce."
To obtain the sterling to buy The observatory, to
(£327,000 Mr M. Celal Bayar, President thero gozda in the British 327,000,000 સ્ત
a 74-inch of the Republic, will deliver a colonies the traders are dealing storling), will have funeral cration.
a black market cur diameter telescope which is to through
The in England, rency ring operating in Switzer-be made Earth from graves of Turkish land, Beirut and New York..
largest t
in Asla telescope soldiers killed in Korea and other A large number of arrests of present is a 20-Inch Instrument Turkish battlefields will be laid French operators, and black owned by the Mitaka Obscrva-
an
3.34 nom.
in Asia
March
ye
coat May July
15 bid
Sept,
9.03
at
Contract No. 0
Jan. 1034 Marcit
May
July
Sept.
Nov.
·Epòt-(cents per lb.
ax-dock)
1,50
ited Press.
1
In the tomb of the mausoleum, market traders all along the tory in Tokyo, withcarth from Balenika, route frem West Atrien, Work is to begin on the new Alaturk's birthplace, and from through Algeria and back to observatory in April next your Hlavinother'a grave ut· Izmir, Paris Irhortly expected and will be completed within China Mall Special.
London Express: Bervice. Five years,China Mall Special.
London Foreign Exchange
New York
Montreal (.
Amsterdam
Brussels
-355 not. Oslo.
3,43
BAG
Bra bid
·Zurich ...
Copenhagen
Stockholm
8.09. nom.labon
itemburg Blocked" Mark
20.30
In
"the
month
$15.
million of the tho
The fall of prices, which caused cof $175 muillon fulls of trade Canaillan post-Wap States and
Morcover, the United King
WILL NOT JOIN pres
11 marked Improvement Colombo, Nev. 9.
torms Ceylon has cotified the Inter Britain's own national Sugar
Conference (the ratio between import and through its Embassy in London export prices) has led to
trade with that she has decided not to be equally marked deter ation in restrictions
must soon, be party to the Intentational the terms of rede of the over- Western Europe
implemented, Dans lerling area, 11201 Sugar Agreement alo
In these e reumatansta Le most
London, Nav, .
20
A
on dom's promise to remove more
сп
Under the terms of the agree- In other words, even though 4tment, Caylor would, thaya to the serling raw material pros that can be expected is that tho sell just as gold and dollar reserves will res
nbido, by the maximum and ducing countries 11.70% minimum prices Imposed by the much abroad, they receive less main around their present level
for the rest of the year. conferenceUnited Presa.,
-United Prest.
Jin return.