THE CHINA MAIL, TUESDAY, DECEMBER 22, 1953.
COMMERCE SECTION
AIR CHARTER British Diplomat In Teheran
FIRMS GET
A BOOST
Scamen with wings are bring-
ing a boom to air charter firms. More and
aircraft mirc
arc
booted to bring home the crows of the ships they have delivered to foreign portu.
aco
Sometimes the vessela new thips going to their new LWNCTA. Others pre -second- hand vessels sold
in the open
market. Many are bound for
steel furnaces.
Within
the last few days
Inquiries have been made in
the
for nir charter market several aircraft for what sea
ITIUTI fro now calling
'gruveyard airlift,"
12 SHIPS SOLD
The aeroplanes
the
aro needed
to fly back from Japan crews of vesseln gold to Japanese shipbreakers. In the past few weeks a fleet
12 nold purposes. to Japan for scrap Several of them are unwanted British vessels.
of nearly obsolete ships has been
The majority of these lights are now Axed in London at the Baltic Exchange, the world centre for arranging cargoes for merchant ships. The Ex- change has been developing a for thu similar organisation
world's aircraft.
All the big British chipping Jincs are rapidly Increasing their use of aircraft for their
Airplanes crown.
are being
chartered daily to switch crews in Europe and the East from
ships disabled and delayed by repairs in distant ports and to relieve seamen due home for leave.
-(London Express Serulce)
Gifts For
Parish Church
London, Dee. 15.
Leslie Durbin, who fashioned the Sword of Stalingrad, hus now made a chalice and poten for the parish church of the late Sir Frank Stockdale, Deputy Chairman of the Colonial Devel- died opment Corporation who In 1947.
They are the gift of his two sons. And they were dedicated by the Archbishop of Canter bury during a Communion_ser-
vice in the Maty- Summer Hause faces the Chapel. The chapel Colonial Office Headquarters and is attended by many Civil Servants. More than sixty were present at the dedication cerimony.
Sir Frank Stockdale had close Ossociations with the colonies, His Arst colonial appointment was as Mycologist and Lecturer In Agricultural selence at the Imperial Department of Agricul ture in the West Indies.
'Cuter lic
went to Britkh-
Charge
Mr Denis Wright, recently appointed Drillsh d'Affaires in Teheran, arrived in the Persian capital yester- day. He will re-open the British Embassy which was closed down 14 months ago, Mr Wright, who is 42, has specialised in economies, during, lis 14 years in the consular and diplo-
matic services.-Express Photo.
British Christmas
Fare Most
Varied In 15 Years
London, Dec. 21.
TRADE and
WOOL AND RUBBER PROSPECTS
1954 May Be Crucial Period For Markets
London, Dec. 21.
Russian buying of wool and other consumer goods, against sales of gold and Russian's other means of raising money, is quite real so far as it goes, but it does not go very far, and it is a chancy foundattion for any market.
Because of the downturn in U.S. defence spending on the one hand, and the concentrated tax payments by US. companies on the other hand, one has previously surmised that the first half of next year may be the testing time for many markets. This may apply particularly to wool, since the first half of the calendar year is the heavy supply season.
First sales of new-season crossbred wool find a good enough de- mand but it remains to be seen how the market will stand up to the main weight of the clip.
NEW YORK remains to be seen whether it the low grades. Natural rubber
STOCK EXCHANGE
Anti-Cortel
Bill
Bogn, Dec. 21. The West German Government Intends 10 Introduca
anti-car-1 bilt In parliament January, neobring to parliamentary sources here, The Economics finister. Mr Ludwig Erhard, who tias Just returned from
the United Hes. fold
Christian
do-
Dulles here that he would anti-cartel by his
*atand
line. The kernel of
pelley was free competition and a free market, The formation of cartels would violato tisin principle... Router,
HONGKONG SHARE MARKET
(From: Our Correspondent)
Business done on the Stock Exchange this morning amount-, ed to $815,077.60. Noon quoto-
In rubber, though Washing- At best, this has unduly de- ton has made some gestures, it pressed the relative prices of
will raise the price of the syn- | Interest believe that it has de- thetic product. The 16 per cent pressed the whole price-level of gross profit which it claims to natural rubber, make on synthetle rubber is With the stockpile a regular tions and the morning's trans-
as commonly supposed seller, US rubber manufacturers actions: abroad, 18 per ett on writter | have had no need to buy low | SHARES BUTERS BELLERS BALER
BANKS down Invested capital; it is 18 grades from origin, and the re- per cent of the gross sale pro-sultant accumulation of low ceeds.
grades has depressed the whole | INSURANCES Eastern market.
not,
Lombard
'New York'
Foreign Exchange
Closing Rates Dee,
*27,813)
Canada (dollar England-oficial Filztand unmetal ..... England 30-day future Epaland 90-day future Australia (pound) New Zealand (pound) Bouth Africa (pound) Belgium (franci
12.0111
2.01-1/10
2.25
2.00%
2.8142
,00201
Denmark (krone)
Franco (trino)
0028
Germany (aqutsché marki
Holland (guilder)
Italy-official
Norway (krone) Portugal tescudo) Spain (pereta) Bwedon (kronn)
Switzerland-free
Middle East Egypt (pound) iran (rial) Iraq (dinar) Turkey (la)
Latin America Argentinn-ometal Brazil terueiro) Bolivia boliviano) Cille-official Columbia (peso) Cuba allteixi Mexico (pes) Peru-free
Uruquay (powŋ)
Venezuela (bolivar)_
Far East
4190
2.681
| B012 3250
0030
0001
4020
1,00
34001 200
.1760
India trupac)
Pakistan (rupee)
Hongkong dollar).
Indonesia (ruploh)
360 you to US$1
Bingapore (Straits doline) 3263 Japan
-Unised Press,
GRAINS IN
CHICAGO
Prices per bushel in cents:
lik Bank
2 + 1003
10 1810
.. Gu
20 $40
13 848
Waterboat
10.40
Asla Nay .. 1.15
DOCKS, ETC.
Provident (0) 13
300 13
4000 13.10
Dec.
100% (L)
March
(N) (2.20 12.40 2,000 or 1250
Chicago, Dec, 21.
Cleng Prices Deel 18 Dec. 21
Wheat, No. E, Tod
Spot
Wheclack 8.08 3.35 2000 0.10 Klay
New York, Dec. 21.. US. rubber manufacturers, in
Unioji If, as some assert, the stock- Stocks turned easier inte today for from a good market, would under influence of the steels resist any price Increase which pile has been selling the low
SHIPPING for- grade up to six months which dropped on news of pro- would enlarge the alleged proward, and not replacing,
with duction cul-back in the industry. fit margin. By juggling its nei
Higher
grades, uniji it has Steels turned lower on a com-countancy,
Washington can
actually
the delivered
low bination of news-word that US show any profit or loss that it
grades, the effect, at any given blas! likes on synthetic rubber. Steel is shutting down a
was the same as an furnace at Baddock, Pa., because But the contraction of output moment.
does not necessarily raise the outright release of up to 60,000 of a decline in order; and the
tons from the stockpile, en- industry true production costs, since it larging the market supply estrate that steel
by operations this week will be at is the high-cost plants that are
that amount, The National a low 66.6 per cent of capacity being taken out.
an en- smallest since the strike week Foreign Trade Council,
lightened hedy, has just come of July 28, 1952,
out against U.S. participation
international In
commodity agreement,
While the estimate, made by American Iron and Steel In- stitute, reflects la
part
the
STABILITY. FOR RUBBER
Washington's talk about rub
The people of Britain are looking forward to their tastiest, most varied Christmas fare for 15% point to $305 Bethlehem bor is mighty fine. It has "do-
years.
White flour, only a year ago a mere memory of the
Dried fruit, raisins, and the whole, this is
Christmas pudding beloved by the British are plentiful.
years.
#
To the extent, if any, that this has been happening, it is an
the wheat, other warning to
that cotton and other markets thero
supposedly Impounded the markets, stocks can reach particularly under the provision (or pretext) for the unloading
of stocks which are oficially out of condition.
deemed to be in danger of going
400 pr D.10 July
2500 * 1.10
LAND ETC.
HK Hotel
0.80 8.00 1,500
HK Land
Bent,
200
20011
201-2007 2021
204
Corn, No. 2 yellow
Der.
2.0003 Spot 71 72 700 of 715 March 1.001.001
Kumplʊeys.. 17.50 Itealty UTILITIES
Tram
2043-4
20436-5 20415
10841 108-15
15814 1504% 15242-24 183-1
16012
900 130
Hept.
2401
..... 20.40 20.60
106. un 20.70
Rya
600 #20,00
Dec.
121-14
100 or 20.70
March
1000 ut. 281
Cats
Dec.
March
Boybeans, No,
Spol
March
Star Ferry ..
145 140 100 141
C. Light (0) 13.70 13.90 600 er 1330
C. Light (N) 10.90 Electric
Macao Esc
Telephone
INDUSTRIALS
Cement
Dairy
1200 13,00 BOO ar 13,80
100 ar 1300 Jan.
2000 of 19.20
13 1,000 10.00
29 20.10 2,000 2,10
10.70
200 @ 30
660 @ 27.20
19 19.30 3,500 & 1040) 10,00
May
Judy
Sept.
Harley, spot New York four,
200 ibs.
771-5
yellow 208n
2081 n
30015-20112-15 298-2084 2984-198 292-2921; 20314-201 20019-250 207 |? 130-162 130-10
$13.50n
sack $13.70
United Press.
BTC: 25.10 25.30 2.000 25.28 New York Sugar
100 f
332 4 25
2
Corp. 1.18 7% 18,500 @ 7.20
ANEOUS
Yuugiszo
0.15 04 2,300 € 820
Christmas holiday, it is n larger drop than usual. US Steel fell dropped to $314.
as a whole,cided to give serious considera- For the market
tion to a review of its natural
GOOD CONDITION With food rationing almost ended, house- however, changes were mall,
An investigation of the rub- Volume for the day totalled rubber programme." wives feel as if shackles had been struck from
1,600,000 shares, compared with General Services Admin ber stockpile might show that
istration, the buyer of crude the condition is
that so good them. This year, for the first time since the war, 1,550,000 on Friday.
rubber for the US stockpile, there is little if any need
for with has called steady, Motors held
a meeting of its further "rotation" in the near
Hope they can use as much sugar as they wish.
STORES, ETC. into Willys-has volume coming
Rubber Industry Advisory Com-future. Many of the lots now in
Brst meeting in the stockpile are said to be
Watson 1 off. 4 point to $103.
L. Crawford days before the war, is hack on the pantry shelves again. stock and, the day's most active |mittee (the
Of 1198 issues traded, 572 three years) which is to make better condition than the aver
COTTONS recommendations for "further age of new arrivals
from the cheaper declined, 329 advanced. There other ingredients of the rich Christmas than In previous were 26 now highs, 36 new lows, the stability in the market Far East"
including Most goods,
in Indeed, after the way The New York Stock Ex- for natural rubber."
The Administrator of the
which the GSA has been un- toys, are down in price because
change bond volume
was at GSA announces that agreement
the con- meat and bacon the Government in this year's $3,116,000.
loading suspect lots, has been reached by the trary would be surprising. The until next budget made big reductions in
American Stock Ex- the Once of Defence Mobilisa- are still
volume
But any stowing down chango year. But supplies are so good the purchase tax which it has
way 520,000 tion, and the State Department shares. that shopkeepers can give their imposed since the war on sales.
on the need for mere, stability gemine rotation (us distinct
releases stockpic
dis Jepancoe bond Dow Jones closing averages in the rubber market,
"A" (in of 1809) ... customers extra. In any case,
having guised as rotation) would tend "B" (49, of 1910) traditional
is dearer, but the The turkey is
particular regard to
HC 1 of 1007) to reduce the discount on low -Dec-21.
pressed-prices-of-the lower grades rallier than to raise the
D"-(07 07-1024)-- English Christmas dich and the poultry-In-slightly-cheaper than aigns are that there will be last year,
06,38 Prades.
price of rubber as such. 52.70 The prime moyer in all this is
If the stockpile stops seiling 107.18 evidently the State Department, low grades and stops buying an plenty of poultry for everyons.
8,000 tong than
07.01 which
does not want to play into Moscow's hands by under- equal amount of higher grades, mining the economy of South- the nett benefit might be rather
small. East Asia,
the practical On the whole, Even in the realm of talk, the effects of the GSA's wonderful change from the wrong talk to Intentions seem likely to be the right talk is an improve- ment. By improving the market useful rather than far-reaching.
-China Mall Special. it has already dono positive good.
Technicationed
More
of
Some food
Guinna as Assistant Director of Agriculture and then to Mauri
Theatres have planned lavish Uus as Director of Agriculture, He will be best remembered as
will be imported this shows for Christmas. Some of the unique Comptroller
for Development turkey and Welfare in the West Indies year, and producers in England the pantomimes,
contribute English combination of fairy- Ireland
tale and vaudeville, will be un from 1940-1945, when he was and
stars in the eppointed Adviser to the Colo-thousands of tons more.
The one difficult item is but-ce with skating
principal roles. China Mall is si scarce ter which strictly rationed to three ounces per person per
bind Office on the Ten Year of the Development. Plans Colonies.
EVEN THE RUST CAN BE MADE TO LOOK REAL
Two brothers In the Surrey
are village of Claygate
dally using forge, hammer and anvil to make ornamental ironwork. For 60 years they have been specialists at it.
opened shoeing forge
" Common Road,
in
will
and Special.
week, Hut other labs, including margarine, are available to make up the difference, and
grocers are fairly generous with them.
curranis
AT THE PORTS
VISCOUNT WINNING
AIR RACE
were:
30 industrists
20 ralls
15 utilliten
40 bonds
60 stocks
Comm. Juture price index
The
782.99
104.11
United Press,
Rubber
Markets
domand
Gome otherwise
Singapore, Dec, 21.
the
de-
The market's appreciable re- sponse to what so far mere talk is also self-justified; it
was oversold
and
The market Buctuated nar-strongly implies that the market rowly today. There were come proviously
for low-grades and underbought. off-take for Australia
ROTATION MORE GRADUAL the market
Having fallen so far below the featureless. Pricts: No. 1 rubber per lb. Jan.
price of comparable synthetic rubber, natural rubber is sub- ject Jest to the same sort of upward
for example, pull which, abled Chicago wheat
February 24arch
No. 2 rubber per lb. Jan. No. 3 rubber per in. Jan.
was
516-561%
DORK-BT
6532-67 5516-601 64-8
81-31
Silab
At the ports, ships from many world are dis- parts of the
of charging cargoes
sultanas, .raisins and
from Greece, South Africa, Cyprus, California and Turkey.
Eating apples from Italy aro Britain looks like winning the Bananas, battle to sell the plane of the being swung ashore.
to Vickers Viscount No. rubber per 1. Jan. 0 out of Its exceptional drop be
Blanket crepe Spot rubber unbaled......
474-low the support level. The two No. 1 pale crope
05-0715 types of elastic are different but, the further they are DX- both tended, the harder they pull
All this is to the good. there is already an authorita: tive US warning that it would be "misleading to read too much into the GBA sanounce Iment '
The father at Mr J. T. Hogs- den and Mr H. J. Hogsden until recently so scarce aa to year -- the
be almost a deliency in Britain, prop-jet airliner-all over the
world against desperate Ameri are now eaty to obtain, Claygate, in
Big hotels
planning can competition with outdated are Christmas banquets on a scale piston-engined planes, 1938, the net seen here since last Christmas
World
1800. The brothers have made ornamental work their busi- ness.
1
Sald Mr H. J. Hogsden: "We can make replica of an Elizabethan dog grate with the stands for the wine cups-and the rust, if you like.
before
This was indicated last week War II. Their chefs, frustrated by the Viscount's designer, Mr Edwards, managing director, of
Vickers, at Hurt for years by scarcities, are in- George venting new luxury sweets and Airport, Hands, where produc dishes now that they can get all ten of the plane is to be con the ingredients they want.
centrated, and Apart
from the food
And that
Christmas
"It is not difficult, for wo
He said: "There is no aircraft still use the some methods as unrationed chocolate and sweet- were used in the 16th century. meats, British children will like the Viscount contemplated
"We still depend on the fire..
1053 is anywhere else in the world, yet hammer, and anvil, but getting somewhere near the kind the prototype Viscount first few drills are now precision-made." of Christmas they have only in 1948.
heard about until now.
our
Mr J. T. Hogelen has a 20- year-old son who will carry on the business when the brothers retire-London' Ex-. press Servier
No Registration
For New Party
Berlin, Dec. 21,
RANGE OF TOYS
The
Americans are perately, trying to sell piston-
LONDON MARKET
London, Dec. 21. The rubber market was dull with No. 1 Rss spot quoted at 17 pence per ib. Prices: No. 1 spot Ras.... 1075-1736 settlement house term: January
1411⁄2-17 February
37-1748 17.177
March Jarwary/March
April/Jane July/September General markets, December
January
February
Estate crepe
37-173
But
Ita crux is the reference to the-lower-grade. The only con- crete action that can be expecs- ed from all this fine talk is that the rotation -of the US stock-
que pile will be made more gradual
and more genuine,
*14-174 elf barls, parte:
10-13/16-18-15/18 2016-17
unqualed
NEW YORK" DAARKET
After the Advisory Committee New York, Dec. 21. Rubber futures today closed moets in early December, rota-
tion.
operations may be com- There is a much wider range / Cugined planes as they have not | 15 to 20 pojets lower with sales plotely suspended for two
yet designed a prop-set aircraft. of 7 contracts. of toys in the shops this year. They are now saying turbo-
three months, while somebody Both the spot and futures takes a look to see how much Cowboy suits are made of bet
props are no good,"
mardoels were. extremely quiet as if any rotation the stockpile material and arc much
Amadora become more holiday- really needa. moto glamorous than last year, Quoting BEA's ̈ operating (minded, There are huge rubber men Agures, Mr Edwards added: which
ter
Spot No. 1 Ras were quoted at }}} STOCKPILE BALES-
or
| mercles, but these are rather
20.15
20351 small ones-
can be blown up and The Viscount has now.com 20% cents a round, Future. One must be grateful for any used as rebounding punchballs, pleted six months of operation closings
washing miniature
machines, with, the Corporation and has and miniature bricks for build- made a profit of £395,000 ing replicas of real houses.
One popular toy is a steering gear lever which
The West Berlin city gover-wheel with ment refused to register the teaches a child the rudiments "Europe Party of Germany" as of car driving t
political party in Berlini for adults, gifts are made of
better materials, more electrical gadgets.
In spite of complaints about [of \llving, the mcreased comt, Britons are finding that, on the
It said its progiamme did not correspond to that of a political party. None of the party's lendars is known publicly Reuter
equal
to a prolių... of £64 an
March, Ky Juy Beet
March
"Usually a new
NOVAMSTERDAMI”. M/
Amsterdam,
In new.plane, SHOWN no proft at all. during the first six months of operation There are So far 88 Viscounts worth
· £25,000,000 - Havo been ordered: and negotiations for a furiber 50 are under?way ligandon Ing-> press. Service,
The GSA has been under or
Bb der to replace, with higher
助
20 grades, the large stocks of low- grade, rubber; that. It bought
after the Korta cutbreak. Pac-
frcin
Paris Gold
In
Japanese Bonds
***
1020)
1013) Corola
London, Dec. 21.
no,
Market
New York, Doc, 21. World No. 4 sugan futures to- day closed 1 to 2 points lower with sales of 51 contracts,
Domestic No, & sugar futures closed 1 point lower with sales of 17 contracts, Future closings: Contract No. 4 (world)
了吗
to
76
41
13222
1J3;2
-08!+ -105
Jan, -Marthi
(Tokyo 511⁄2 OF
(Tokyo
524
1030) 180 140
20
1024 D$14
saented
May
July
Spot-(cents per lu. No. G Contract
fot
Jan.
3.30
0,461
March
May
3.48b
July
5.02
Sept.
5,035
Nov.
6.5911
8.43
United Press,
NA-BOMREsented United Press.
London Foreign Exchange
New York Montreal Amsterdam Brussels Odo Zurich Copenhagen Stockholm Lubon gramme, Hamburg
Blocked Mark kilo, Paris
Paris, Dec. 21. Precious metal pilves closed today as follow-
Gold, Ano Ingot, per $35/486.
Platinum, ingot. per 1,080,000/1.180,000 United Press,
London, Dec. 21,
2.81 1/10-2.81 3/16 | 2.13-2.7313
20,015-20.02% 1221-1831 18.35-15.362 14454h-14.48% 70.80-60.10 31.0073-11,70 |1826-1812
D6034-96045
-Unlied Press.
Pan American offers
MOST FREQUENT
CARGO SERVICE to
NEW YORK, CHICAGO,
SAN FRANCISCO and every
city in the U.S.A.
-CALL-YOUR CARGOʻAGENT.
or Pan Amaricano
#gantrisúla: Hótelista.
The rubber markes was quiet about 10.000 tons of low grades
condingly, it has been selling | Alaxandra House, Phone 37031) Hong Kong Prices closed today as follows (in qonth, an amount equal to a
quarter, OL/ GMAIĶUS;
consump tory or 'zantural rubber - and: a much highstr. proportions, of the i
270, 2
# Phoña B7872 | Kowloon
Spot-fcents per in, clf NY
'ex-dock)
Exchange Rates
Business was done in the local
market unofficial exchange morning at the following rates!-- US. dollar (per ) Bierling nata (per 41) Indonesian rupiahs (per 100) Bjam ticals (per 100) Singapore (Straits) Indo-China plastres (per 100)
PAA
PAN AMERICAN be indy
2150