Queen Sees Bermuda Triplets
THE CHINA MAIL, MONDAY, DECEMBER 7, 1933.'
Her Majesty the Queen shows great interest in triplets held by nurses from the Children's Hospital at the Duckyard at Mangrove Bay, during the royni visit to Bermuda. With the Queen is the Governor, Lieut-General Sir Alexander
Hood-Central Press...
Neutral Switzerland Has Created 36-Ship Mercantile Fleet
Berne, Dec. 2.
Neutral Switzerland has created a 36-ship national merchant fleet designed to assure her essential overseas supply lines in case of a third world war.
TRADE and
COMMERCE
U.S. BANK THROWS
THROWS LIGHT ON THE STERLING AREA'S
N.Y. STOCK DOLLAR POSITION
MARKET REVIEW
New York, Dec. 6. big news In the stock
The market was
.
(From Our Own Correspondant)
SECTION
Iranian Oil Not Urgent
› Page
Oil Fever In
The
Australia
* Sydney, Dec. 0. vil: favor continued to
spread throughout Australia to- [day'nul further heelle trading in
London, Dec. '6. oil stock was predicted for British oli eireles said today | Monday when the Exchange the world could use Iranian oltreopen Nothlog has stopped if production is resume but no Australia probably since Gen- longer is crying for it.
emi Dougtas MacArthur's Olt meri pointed out today's arrival in Melbourne us tho resumption of relatiops was successful all drilling in the Ex- only the starting point for prob.
drawn-out falks about mouth ably restarting the cicard Iranian oil Australia.
elds and the hugo but decay-
ing Abadan rognery.
Gulf area
In Western
More light is thrown on the sterling arca's dollar position in the current issue of National City Bank of New York's monthly bulletin.
According to this source the period of huge a starp pickup export balances in United States foreign trade during the inst week to the is drawing to a close. Indeed, allowing for ship- Prices struggled up the slip-ments paid for by American economic aid it is pery pact of the mountain and probable that for more than a year the United
bit of progress. The States has had a small adverse balance in its oll market is just rense inspection of the new D0-million-
highest level since Sept. IB.
mode going is rough at the point, ac-
cording to the experts, because many who have profits meant to realise them.
This is one retardant to pront- taking, however, and this is said to have saved the day for the
stocks,
|
"cash trade." And this, as the bank points out, hasn't happened for a comparable period since the mid-thirties.
and
Dennis Barker, a high ometaf But they debunked score ic-of the Anglo-Iranian oil · Com- ports that Iran's 30,000.000-ton pany, cuid here today, ho be- anal production would pre- lieved that large oil neid ju cipitate a world oil slut. situated in Western Australia "Bringing Iran back into the where the strike was snade. Mr
kely to lake Barker who completed the expected work oil consumption." Briti
one dollar oil refinery his company oll man said. Others is building Perth, Western voiced the same opinion Australia, departed for San generally, although
Ho sald tho re-Francisco today.
refinery would begin operation
up
with
an
Savoy Hotel Battle Grips Public Imagination
Reduction in United States other hand have declined dus cervations. bulls in the past week. It is export surplus with Western mainly to recovery of produc- j. "It is up to the Ingenuity of in 1959 handling oil, from the the fact that Income taxes Europe has been due both to ation in other countries and to the industry to co-ordinate re- Middle East and For East and decline on January 1, many are decilne in Its commercial Cx-the ability of non-dollar turning Persian production with | probably from the now Western to satisfy sold to be waiting for the fewer poris and to rise in its pur-countries
more. of increasing world demand," an- Australia oil field to San Fran- rate to lake the profits on their chases. In this, the bank says their needs at home or from other sold-United Press.
elseo.- United Press, that a revival of production in other sources outside America. HIGHEST GRABE
Western Europe and growing The bank believes on The This situation plus a growing vallabilty of good for domes
for Ex-whole that while the continu- tie consumption and investment demand fo the M, con
a most iming rise of Iorcign monetary highest grade issues carried the part have played
perlant
Restrictions reserves part.
should lend 10 ndustriot average to a new high 292)
Against dollar goods, deliberate Arndunt loosening of import since March 20 and utilities to a
efforis to turn to non-dollar restrictions in Amerlea's over- top, since March 30. The rails
of imports, sources
retrenchess markets
to higher gain were the laggards but on
ment polletes and more
effec- purchases In America by non- Tuesday they set a new average tive control of inflation
have dollar countries, the decline in hi thee August 20
been influential.
U.S. economic ald may check Utilities outshone the other The United Kingdom has the increase in foreign Hold major departments by rising reaped Its full share of
Thus it this and Collar holdings. within reaction of their 22-year improvement In Western says any Improvement over or high set last March 13th, Uilities Europe's dollar position. In the possibly even maintenance of companies not only look for Lood frst eight months of last year the present level of US CX- businer: h 1954 they plan to Cx-its adverse trade balance with ports would seem largely to de- Fond
their
facilliles,
the United States, excluding pend-among other factors such The industrial average gained defence aid, was 150 millions relative prices, credit firmi
quality radis dollars. In the
of
incrchandise 2.48 points on the week:
corresponding and gained 0.5 point; utilitles gained period of this year The gap" upon e further growth of US. 1.07 points.
was reduced to only two million Imports. especially if and when Sales for the week totalled dollars. In other words the US military outlays abroad 4.624,703 shares, against 0,027.- United Kingdom has virtually begin to taper off. 030 shares Jost week. The balanced Its direct trade with
This throws
back the ball daily average rose to1,704,958 the United States.
into the
Randall lay of the daily average rose to 1,704,058
Commission whose forthcoming shares.
report on US, foreign economic the polleles Gentral improvement In
decide will largely considered burvera
is whether America continues the rise in volume particularly world's supply of dollars
by' a great along the highroad af trade the Friday largely explained significant.
In liberalisation In U.S. Imports.
ar branches off sezion when prices were easing inurease
week-end
and the first nine months realising
of 1953 into the byways of protection-
rate ism. the those reached an annual evening-up and
operations,
if of 11 billion dollars which, transactions fell off sharply.
said the maintained for the rest of the market Some upturn represented the start year would slightly exceed the of the traditional year-em previous record set in, 1951. rally. However,
further Thore who are fond of eri- "protectiunist" policies tax-selling is anticipated. and ticising
of the United States might Ihis might be irregularity,
well
this and also the ponder was said.
that the U.S. is spending
A full maritime code for the new fleet was approved by the Federal Assembly on September 23, and will come into force on January 1, 1954.
.. -
The core, which is In the put he refused to give safe eon-, Twenty of the 36 ships were form of a Federal Law, places duet tɔ the few United States Built after 1948. Twelve vessela # Swiss shipping under the vessels still carrying supplies have been added to the fleet, supervision of the Federal fur Switzerland), Council. permanent Cabinet.
Switzerland's
-
more
more than doubling its tonn- age, since the cutlireak of war - But the
warning Was not in Korea in 1950, whca the herded during the prosperous Federal Council extended The Federal -Council ney Inter-war years.
special loans to Swiss ship- take any measures it considers The Heet which was founded owners, to build or buy necessary to ensure that use of in the inerney of 1941 has ships. the Swiss ag at sen does not grown Into
Today one of the most
The
Merchant Swiss the security compromise
and modern and best equipped
In Navy consists of 21 neutrality of the Confederation, the world. The Federal Council, ships (all over 6,500 tons), 12 cargo The Council IN empowered believing in quality not quanti-coasters, two ull tankers
commandeer
Swissty, considers it big enough ut one tanker specially fitted for vessel in, the interests of the 1200,000 ton: to supply the carrying "economic
wine. China Mali defence" of the country in case of need.
Special.
to
country.
any
Conditions for registering an ocean-golog ship. as Swiss. Swiss fly he
with
Ang
right to
nrc extremely rikerous.
They were designed
to prevent
the neutrality of vessels flying the Swiss flag bring conicsterl by belligerents in any future
war.
MAIN CONDITIONS
Among the main conditions. are that the owners
be must Swiss andl have their head ofce in Switzerland. All share- holders in an owning company must be Swiss and at least three-quarters of them, re- presenting three-quarters of the total capital, must be resident
In Switzerland.
Basle, the main Swiss
port
on the Rhine, is the only port
Limbless German
Climbs World's
Highest Volcano
Buenos Aires, Dec. 6.
German air ace who lost a leg in the last war, will shortly try to climb again what he claims to be the highest volcano in the world,
His reason is that when he first climbed it
of registration for Swiss ocean- six months ago, he found some archaeological
going ships.
city
The name of the
tha
the may be painted on
remains just under the 6,920 metres high crater. stern in any one of the three And he wants to discover what they are and how Bale or Basilen. Penal offences they got there.
national
languages hs Basler
committed on
board Swiss in the
world
mea-
to run as a Nationalist a
on
SIGNIFICANT
Market
In
min
SOINC
1
A late feature was a reversal fact
IMPROVEMENT
of the trend in tobacco Issues some 58 per cent more dollars
this year for foreign goods than
which
been hummered and down for various reasons, cluding some rumours
Jantes
jantes.
12
in in 1940. Nor has this been due
to a rise in denied simply
prices, American imports were a third
good profits in the fourth quar- ters-United Press.
to
HONGKONG SHARE MARKET
པ་
the
Cotton
Trading Slackens
(By Our Own Correspondent)
It isn't often that the affairs of the Stock Exchange seize the imagination of the newspaper- But this week a new word reading population. was on everyone's lips. It was "take-over."
Not everyone who discussed the ethics of take-over bids and there must have been millions of them—knew what the term meant or exactly what was involved. But what they did know was that something exciting was happening on the stock exchange and that it concerned the famous hotel, the Savoy.
The three-cornered struggle for the control of the Savoy group between Hugh Wontner, Chairman of the hotel's Board of Directors, Harold Samuel's Land Securities and Investment Trust, and Charles Clore's Prince's In-
vestments, has been frontpage news all the week,
When M J. B. Lintion, QC. produced his report for the Board of Trade on recent heavy buying of Savoy shares.. Mr Samuel had already acquired 20 cent of the Company's
·gancy, were then
day.
London Stock Market Review
London. Dec. 0, Britain's bull market" hot a
dustry.
When it was announced that Mr. cwly run the fact that the
market M: Semuch, whose sinke in the diving or more, sugested mis-
the
cul
of Pence.
Chain
were
stoutly by the tobacco cum- higher by volume in the Arsi
pe: New York, Dec. 6. Metals also had good market eight-months-of-1953-than-In-Cotton-traders-found-the-line shares and M Clore another poor week, the Financial Times index closing at 127.0 compared perlod of least resistance of the downside seven per the corresponding In several sessions after a long 1948.
priced agent.
after being at this week.
with last week's 128.3; it is now drought. Aircrafts were strong
20%. 03. carlier this year. Then nearly 3 per cent below the re- Unfortunately for the sterl- from time to time with several
Ebbing gradually to the the price began to move errati- cent peuk on November 3 of Colonel Hans Ulrich Rudel, a 37-year-oldat new tops. Oils ruled strong ing area, however, the excep lowest levels In this
First they jumped to 60s. 131.5. month, cally. in to the general rise several
Their tion sessions.
the list at Friday's close was then slumped to 519. ad; bellef the volume of U.S. has been in the ore 13 to 27 points, or 05 cents Friday's opening, they were back rising clash between the trade strength reflected
One factor certainly was the companies would show fairly very class of goods that carn li
dollars, United
to $1.35 a bale lower than the 10 525. Od. They were a shill-unions and the engineering in- mcst
States
ing cheaper later in the import of raw materials--in-preceding week.
sterling
Persistent small-scale liquida-
share of the cluding such valuable
that the issue as rubber, tion in the expiring December Clerc, who now held 12 per cent "denationalised" uren „dollar-corners as
deliveries plus wool, textile fibres ander by couraged by smaller
sejling <- of the Savoy shares, was selling price of 25 shillings instead of Jonn en- oul (reportedly for £200,000) to at the hoped-for premium of a were one per cent lower
first the
overall volume in
eight tries, herpes yoru
Company, which in the mean-
about 1lic Immediate months of this 9:r than in the sentiment.
ne had grown to 25 per Contributing factors on
gent, future of heavy Industries. corresponding period of 1852 and
has thus, risen to 37 per cent. Vickers and Lancashire Cot- five
included the lack of per cent above the 1948 deelines
.ton lost 101⁄2 pence, Dunlops in imports encouraging news from the ex- level. This decline
ONE OUT
and a good many others two took place, morcover, at a time port or textile Nelds, uncertainty
stores tco when prices were falling.
With one competitor: as to how Congress will write As a
the valus of U.S. farm legislation when it con- the field, the shares dropped to strong with Woolworths up two
shillings, raw imports fell
by venes in January, and California 483. 7hd, where they now stand, 244 million dollars ur 15 per reports that the percentage of 58, 101⁄2d, down on the week. Savoy Hotel shares were the most Delive issue In the Arst three new crop cotton headed for the (From Our Correspondent)cent between
But while this was going on, market: The shares quarters cr 1052 and the ilke loan thus far is below
fell 6 carlier Hugh Wontner had
not been shilings 6 pence to 48 shllings. Busincas done on the Stock period of this year.
expectations.
idle. Knowing that the bidders People who had expected, that Exchange this morning amounted
STERLING BALANCE.
for control of the Savoy group the would-be new owner of the DECEMBER $360,205. Noon quotations
had their eye on the Company?
y's company, Mr Harold Samuel, and the morning's transactions: The set that overseas sterling
Trading in the nearby Berkeley Hotel, which they pro- would offer · them 60 shillings managed to SHARES BUYERS SELLERB BALkg orca, nevertheless
increase its favourable balance December deliveries will cease posed to convert into an office per share decided he already at 1000 GMT on December 14. block, Mr. Wontner quietly had enough, shores for effective with the U.S. by 100 million
was unlikely Company the control and hence dollars in the first eight months The issuance and circulation of formed
small number of delivery Worcester Buildings. Corapany to make any of 1952 to 231 million dollars in
brought scattered to acquire certain of the. Can. Oll were strong with Royal into apat month. |pany's free-hold properitor, In- Dutch up 7 shillings 0 pence, eas the corresponding period of this notices 130
quidation year was entirely due to a cue But around the 32.60 cent level,cluding the Berkeley,
Shell up 3 shillings 3 penco duction in it purchases from
both of these dividend hope -- the US. A decline of 304 ring observers iaw indication of
It is believed that the Savoy and Anglo-Iranian
up 200 63%
more on underlying demand from mill million dollars in theso
plan to set up a trust
improved to hold uw now company's £10,- diplomatic relations with Per 31008.10 then offsot a reduction of 182 | interests and shippers.
million dollars in its sales Larger private, crop estimate 000 or one-ahilling shares, thus | sia. 3.30 9.40 600 @ 6.5s the V
proved a hindrance
to new putting the Berkeley beyond Mr Another vallant effort to lift ienst, the buying interest. Anticipating Semuel's control. The last word gold shares back into Terdporarily
popularity crop in the running fight is that Mr the Government's final City Bank observes National
esme to naught this week. the much talked
"dollareslimate of the tesson, reheduled Samuel is taking legal advice ot
German Loan (Reich) jost one privato on the new situation."
about 1 sterling while the two gap" has been eliminated. In for December 8,
this week placed, the
Potash Loans Just 3 end, 312 deed countries outside America survey
This
TOKEN STRIKE
sterlings, Japanese bonds closed mixed with fractional gains and losses. Dollar stocks
closed several points -- higher; than last weck-United Press; Bank Of France. Statement
Rudel, who since the war han A third incomplete circle afood ships anywhere
gen_cmmployed by the Argen- nearby. to the Can- the Government as a technical must be referred tonal Tribunal of Basle City.
What surprised the men most, adviser on The 107-artlele
aviation, recently however, was the presence of a code jays down that the Federal Council
came back into the public eye big tree trunk laid close to one when he returned to
of the circles, will take all necessary
DOUBT BELIEF the sures to surmount
major
In the September elections. remaining dlmeulty in the way
"How the thing got there," Ile was of forming a 100 per
disqualified cent
by the Rudel commented, "is the big- that of electoral board because of his pest Swiss Merchant Navy:
mystery. The nearest Swiss residence in Argentina. manning the ships with
forests are 150 kilometres (00 In May this year, despite his miles, away." nationals,
Physical
disability, he led on Argentine archaeologists expedition to the top of Llulla-doubled Rudel's belief that these laco, a massive extinct volcano walls were ancient tombs, but on Argentina' frontier them. So Rudel is setting out with Chlie. Ten previous ex-again at the end of November to are Swiss nationals.
companies, peditions had failed where he find out. Swiss shipping
Whatever the walls are, they succeeded. with the encouragement of the
WHE hia Federal authorities, are work- Karl Morgen and Rolf Dong), he an
companions, present a drst-class puzzle, At
allitude ing to train more men to be
of nearly 7,000 marched 70 kilometres (about metres, man can hardly breathe, deep-sea sallors. The GoverI)« ment wishes not only to man 40 miles) from the railhead at let alone move large stones the fleet with Swiss as a safe and ice and with the wind blow-
Mina Casualdad, through snow about. guard against troubled times
1.000 SEAMEN
About 1,000 men sali
the Swiss flag at present
under
but
only some 25 per cent of them to 6,920 metres above sea they were unable to explain
two
President Peron has placed at but also to create new jobs for ing in gusts of 120 kilometres Rudel's disposal for his new young men who cannot find (about 72 miles) an hour,, work in their crowded
land,
home-
NO WORRY
The Swiss flag made its first Hla missing leg did not worry appearance, al foa during 1941 hin unduly....
the
expedition, porters, tractors and inutes to carry up the pickaxes and other digging equipment which they will need..
CAMERAMEN
The dange: of on a few old ships hastily frost bite was reduced by half," Two cameramen will join the bought by
Government he explained.
expedition to record its findings. when the war put an end to Instead of using the usual Before setting pat, Rudel said charter arrangements with mule team, the German expedi- that he was convinced that the Greek and Yugoslav lines. A
tion worked their equipment up walls were tombs because it was makeshift maritime code,
now to the 4,500 metres level on the practice, of the ancient the new tractor.
Andean Indians to bury their jaw, was drawn up in a few On the way down from the chiefs ar clote to the sun as they
to be replaced by
weeks to meet the emergency.erator, Rudel became separated could.
Creation of 鞲 merchant Beet then remained the only hope of fell into a rovine and it was two drop
Besides temperatures wirich from his companiony when ho
20 degrees Centigrado. salvation for the land-locked Confederation, largely
days before he turned up at the (4 degrees Fahrenheit) below depend
zero even in summer, t the Ex- ent on Imports for its food and base.camo
Dut the journey which began pedition will have to fight the raw materials,
During the First World War, as an adventure ended in an read "mal de pung" the the traditional Swiss policy of archaeological find. Only 120 mountain sickness which amicts chartering foreign, abius to ply metras (about 300 feet) below even the hardles! among the under their own national flags the crater of Lukiano, Rudel Andean heights and, if too pro- same fear to failure..
and his co-explorers found two Jonged, according to local lare, .Ia
available tonnage circular stone walls 1.30 metres drives 3017
one mad-China Mali became very rare and Germany high and 10 motres in diameter, Spedia).
.. 1000 1020
Sa
805
7.70
BANKS.
HK Dank
INSURANCES
Lombard Union at Underwriters DOCKS, ETC.
K Wherk .. 851$ Wheelock
XD
LANO, ETC. 11K Hotel HK Land Stealty, XI
(and Hts.) 1.90 1.35
10 en 75"
RIS, 1.
28.80
142
13.00
10.70
UTILITIES
Tram
Star Ferry
ко
(Old) XD C. Light
(New)
20 200 Electric Telephone, 2015 -- INDUSTRIALS
Cement... 1815 18.50 Hope
14,00 STORES, ETC.
Dairy
23.30 23.90 Watson
20.00 COTTONS
Ewo
1
28.00
to
#1 new
The rest of the week's deal-
Have been accumulating dollars field at 16,285,000 bales. at a rate of two billion dollars compared with the last Govern-
Fear. The question is: Willment, figure of 16,093,000 balesings en Stock Exchange retened "the Rap" stay permanently and last year's production of 15,132,000 bales.-United Press,
closed?
AIR DECLINING ̧-
•
Certainly this is no time for Bank Of England
Exchange Rates merchandiro trade roeting
Statement
duil by comparison..
The long-threatened loken strike by the engineering trade
cent wage increase left the
undisturbed.
uniohs who dro secking 18 per
custrial, share anvestors
But the received in sharp reminder that the were deadlock in this vital. industry ir atlil unresolved.
Sloter complacency. Untied foreign economie
is des afd cllning, says the bank, and the outlook for long time continu-
De Paris, Deal62 ance of US military spending
The Bank of France statement». Landon, Dec. 0. On the wide centrale front, abroad is uncertain American
The Bank of England sloto- news er an unexpectedly reads as doo
for weekended Novembar 20,7 with increased competition both
Ingoldzi res
i reservės – during at home and in forelas markets ont for the week ended Dec. 2. riss
icdds as follows;
November cheered a dull gift Total gold holding Business was done in the locs United States imports are
"market: this tending, toʻriseyana Deyrin & Publio deposits and 20,328,390 -- again before the weekend Bainan d facounted":82% an Nale In Telebutatión... 500131arket-inia-incmentary Total other currencies":
*But priser fanded to: Bight balance abroad stuk
Advarice to Biable, Fund 19,405) American Excineas ping at the following rates
1624 which would
an indication of those medi STarce abroad is uld reduce its purs deversmen securities 321 Sterling nota (per 24 203 Indonesian rupiahant per 100) 210 chases of foreign goods, this others Recurities
INIMA that Mr Buller's recent warn Notchin circulation slamicals per 100) sep mtendency mom likely to cone felples
Zagladioning on exports has had on Current bootinta Singapors (Hiraita)WING
-United› Press. Investory: Indo-Chins plastres (per 100) Tui tinue. American exports on the
unemejaz
„exenatige.
Privain deposite
318,990,700
་