Pleture from bebing the "Iron Curtain" of a Glaz-59 road transport vehlele being completed at the Malotob Automobile Plant in Gorky. The new vehicle has two driving axles and is designed for ure on the rough roads of the Soviet countryside. -Express Photo.
Brandy, Ink And Silk
Now Come From
Norwegian Pine
The
Oslo, Jan. 6.
Silk, drinkable alcohol, B vitamins, Ink, ex- plosives and vanilla flavouring are some of the varied and unlikely things now being produced from Norwegian forests.
Idyllie
THE CHINA MAIL, THURSDAY, JANUARY 7, 1954,
Life Of The
Fijians
1 OMMERCE SECTION
FINANCE MINISTERS BELIEVE COMMONWEALTH PRODUCTIVITY MAY BE RAISED BY:
Gone Forever FREEING COMMODITY MARKETS
Suva Fiji, Jan. 6.
Lift is losing some of its Idyllic qttles for the native people of the tropical Fiji Islands. More carefree days when the Fijian could We Contbht with a tawnyi thatched house in which to live and a diet taken from the sea, the coral reefs and the mangrove swamps, seem gone for ever.
If he in to win the battle for económle turvival In his own country, the Fijian today must change his ways.
For today, the Fijians ort faced with rapidly growing com- petition from the Indian popula- Lon. whose rate of increase threatens ultimately the Indigenous
to swamp rnée even
though the Filans themselves
Russian Gold But Long-Term Price The Fisked
Boosts
U.K. Dollar
Agreements
Earnings Needed With America
By SYDNEY GAMPELL (Reuter's Financial Editor)
London, Jan. 6. Britain's gold and dollars reserves fell by only $43 million doring December are Increasing in number.
despite a payment of $181 To
het North meet thin threat, the fitillion Fijians have been that American debts at the end
told Tidy must produce more and more cash crops.
By PATRICK MAITLAND, M.P.
London, Jart. 6.
When Chancellor R. A. Butter meets other Commonwealth Finance Ministers in Australia on Friday, their talks will be largely governed by the possibilities of an American slump.
Nevertheless, the ministers are reported generally to accept the of the year, the Treasury | Américan Government analysie suggesting that no serious set-back, be-
Fond easily manageable limits, need be expected.
но
announced.
·
Their communally owned land The gold and dollar reserves reserves--which they hold under no stand at $2,618 million, it dear-cut pledges from Britairtraded. to maintain sufficient land for Filan needs now
Artd in forerecable future — are eyed with open covetousness by non- Fijians.
But the authorities have made it clear to the Fijians that their reserve must be used to the full, The Governor, Si: Renaid Gor- vey, made this point in opening the Budget ression of the Fijian Legislative Council recently.
baitor THẾ LINH
The Fijian monetory system. he sold, bad narrow foundations and was largely at a subsistence level. As a matter of urgency, the Fijian people should adopt every means available brunden the basis of their egricultural production by devel... oping thei: knd to the fullest
extent
10
He said the Fijian Social Ser- vice Icglalation should be
The highly developed wood processing in-amended to make growing and dustry in this country is rapidly moving over
maintenance of economic crops a communal activity, to ensure from mere paper, pulp and wall-board manufac- that they do make full use of ture to the production and processing of new chemicals, for which the plentiful Norwegian pine and spruce trees are the main raw materials.
With one quarter of the country covered by pro- ductive forests, it is not surprising that the forestry in- dustry has long been one of the most important in Norway's economy.
their land.
He suggested that what he
"development catted
officers" should be appointed to see that this was carried out,
in
The reserves find increased in every one of the previous months of 1953. Without the onnial debt payment on New Yat's eve December would love shown an increase of $138 million.
The debt payment apart, Des cember was the best month of the year for the gold and dollar reserves, thanks partly,
though not wholly, to the Bank of Eng- land's recent big receipts of Russian gold.
to
10
On that assumption they will first review the balance of payments position. For the whole Sterling Area there is a marked improvement with the dollar market. This has been achieved by sheer hard work and tightening of belts. The reserves have risen about £100,000,000 since last
year.
HONGKONG SHARE MARKET
Britain would hardly inve sent the actual Russian gold burs to Washington and Ottawa, to meet the year-end payments. But the Russion gold doubtedly helped Britain meet the antial payment of the North American loans which she raised in 1946, spent in 1947 and hos to repay in anhu) instal- ments for the rest of this cennetions:-
tury.
But the very grimness of the struggle to attain such on im- n lesson, provement careles There is le margin of earn- ing over expenditure to furnish a capitat fund for large-scale Investment.
obvious Yet s increased ihat vastly
capital investment is required in many branches of industry.
Hefe, in ឈប Duthoritative view that only, of course, re- held in one of flects
the Goves involved, les the most anxious problem be- fore the conference.
FABULOUS RESOURCES There are
fabulous
resources, bcen struck In
In
(From Our Correspondent) Business done on the stock Exchange this morning amount- ed to $747,499.10, Noon quota of has just tions and the morning's trans- Australia. There is timber and
a promising pilip Industry BÉARÈS DUYÉNŐ FELLENS BALES | New Zealand
addition to farm Thift country's wealthy BANKS
The African con- Production. 30 1590 finent is literally studded with
minerals, some of them rare,
Such is the broad opportun
that stunty at least, of the Governments Commonwealth
BEST FIGURE
Excluding the debt payment HK Bank .. 1605 the earned surplus with the world
Lombard... 243 Union Daderwriters
outside the European | INSURANCES Payments Union ares jumped from $32 million in November to $114 million in December, by far the best figure of the year. Some of this striking improve- ment must have been due to the Russian gold,
Offelal quarters refuse to dis "Their insk, for example,
close how much Russian gold the Bank of England has re- would be to see that sugar cano crops
ceived. right are sown at tire
An unofficial, guess is time and properly tended, and that Russian gold might com- that coconut re enlarged prise roughly half of the $114 and kept free
million. undergrowth. Sir Ronald added that If the traditional social structure of
and communal the Fijians
came into conflict anisation with cconomic development, "adaptations may be necessary.
REMARKABLE PROGRESS
This does not meim that the with her extensive Fijians do not already make an of slow-growing spruce, enormous contribution to the
A full ten centuries ago, dur-[con later be spun, wound on Jag and even before the Viking|spools and woven into cloth.
Rayon period, Norway was already ex-
manufactured Ja now porting timber and wood pro- in many countries, though most duels to countries overseas.
them have of
to import But through the centuries the cellulare as a basic raw material. hest care
not always been For the production of first class taken of the great natural re- rayon, however, this basic raw sources comprised in the rich material must be maile from Norwegion forests. Early agri-spruce wood of a special quality culturists burnt down the trees wood from trees which have to cultivate crops in the ashes. crown
At a later date, when the dis-
slowly.
Gray,
or-
covery of various ores in the forests mountains led to a flourishing
ingis obviously the place for the overall economy of the islands, ore-mining Industry. hundreds manufacture of this product, The Governor cited examples of of acres of birch and pine forests and in addition she is also one what he described as the were felled for charcoal burn of the leading sulphur-produe-markable progress made by the ing. Then, areas which for ing lands in Europe, so supplies centuries had been sheltered by of that important raw material people in the last 80 odd years thick forests were laid bare, are also assured.
Today, Fijians account for and the trees would not grow
Today, Norway is one of the more than half the colony's out again.
of put of copra, Fiji's second largest world's leading producers
Industry, the particular type of cellulose
The banana export trade So, today, with so many de- required for the rayon industry, New Zealand
and in terms of quality its, pro- mancia being made on them.
regarded as second to Fijian hands. Norwegian forests
can scarcely duct is
Goldmining, the third largest meet the requirements of the.
would be But it is apparent that Nor- industry, in- modern
up way's forests alone cannot fully without 1108 grown since the first Norwegian cellu satisfy the wood processing in- Fijian workers. loce, ог chemlenlly-prepared dustry's requirements for full
STARTED IN 1847
highly déveloped dustry
which
попе
to
20 1083
a6
100 A
06 015
8
10.40
827
ה!
now wish to grasp.
SHIPPING
Waterboat Asta Hav.
DOCKS, ETC. K. Whart Provident
(Old) 13.10 13.30 -600 a 13.10 being Provident
12.30 (New) Sal Dock. 1.13 Wheelock 7.10
LAND, ETC,
1K Hotel 1.05 HK Land .. 1945
Japan Using
Dollars To
Pay Britain
10
Tokyo, Jan, 0. Japan will probably have to continuo
dollars ting finare her deficit in her trade with the sterling area uniisa she gets short term sterling credit as a result of the car rent Anglo-Japanese trade and
talks payments
ir London, Anancial circles said here to day.
Jewel Box
Singapore, Jan, 6. Nall the jewel bol to the MALA 20, din's frant 18 stófén power advised Singapore realdents.
They pointed out that Jewel boxes and other, bo- longings are stolen hero every week by "artilng" thlover.
Theso men used a bamboo to fiaft, through the Krifica on Singapore win- dows and hook anything Tode and valuable teft lyitis around-China Mail Special.
NEW YORK
STOCK MARKET
New York, Jan., 6. Slocks ran into mild résistance today which put the market
down for tho Brst time in the new year for gwo strstone of advance had added $1,500,000,- 000 for total valuations,
The decime, coming in tho wake of early gains of as much
V SU
point or two, did not amount to much--only seven cents In the general market average.
Of 1,130 issues appearing on $35 finished higher, the tapé, while only 310 were lower.
The trading paco Ughtened on the decline, too, and total sales
for the day of 1,450,000 shares compared with 1,520,000 yester day.
The easing was not unexpect- ed in Wall Street, Brokers sald many preferred to even up ne- counts prior to the President's Blate of the Union messago to morrow.
A spokesman of the Piñaned Ministry ágread, that Japani in effect spent dollars last year fö| They ob-honour her sterling commit- great ments incurred in the form of
exchange swaps,
He expressed belief that the dollars Japan
to the paid International Monetary Fund to get fresh supplies of sterling last your would contribute tö active. lessening Britain's dollar obligationis.
serve that while, with effort, the sterling aren's dol lar balance has improved and ald is the need for American
with other mastered, countries, notably
Latin America, progress has been dis- 81,000 7.00 appointing.
2,500, 1.04
same time they note and Japan; in sometimes
At
the
that Germany
$4.660.83
their energetic and
257 7511⁄2 state-alde
trade
2:00
70.
drives,
1000
TG.
Shai Land Thumpy 18.00
Really ........ 1.82% 1,97% 8000
1.40
1.000
10
proving bold and often exacting
competitions.
WITHOUT LOSING FACE
Oils were among the best of the industrial groups, with guins renning to 6 points in the higher priced superior all of Califonia at 645. Amerada rose 2 points, Texas Pacifle Land Trust 1.
continued firm Motors
Steeis lost fractions. were steady.
and
Utilities
The New York Stock Ex- bind volume
An effect of the Bank, of change
all poses the problem Tokyo said this was a compro $3,113,000.
mist measure to let Japan uső 103 whether the sterling area us a
CO-
losing much face.
A Treasury spokesman point- ed out that, however much raight be ascribed to Russian gold, a substantial part of the December
must improvement ave have been due to other and pre- sumably less
whole, with Canada's infinitely dollars to get sterling without UTILITIES | sporadic causes,
wenithy) (and the Treasury Trom 27.40 27.00 200 27.40 welcome Provisionulty
800 in 6119 nise announced that Britain had
ay it were; cannot, a, deficit' In December with the European Payments Union of £3,100,000, contrasting with a surplus of £3,200,000 in Novem- her.
in La entirely
DEBT REPAYMENT
10
tho
Star Ferry
2000
Liz (0) 14.30-14.30 1,000
C. Ligt (N) 11.10 21.20 770
Excelric
..... 29.90
operation, jump a rung or two of the ind- 1420 der and, by really daring pro
jeets of capital investment, so 11. 11.20 raise productivity that com 11.10. petition can be hét.
1000
2900
440 -23.50
30 300 20.10 In brondest outline
Mino Elce. 10.70 Telephone..21.20 37.40
Cement ... 19.10 10.30
Itope
16.00 14.10 Mersi Indus. 8.00
STORES, ETC.
Dairy Autralia Wattan International
He was of the opinions that, it would be
very difficult for
Was
The American Stock Ex-
volume, change
was 300,000 shares United Press,
Japan to cut her imports from Protest Against
the sterling area distically.
Japan therefore bactý.
needs Sale Of
the either short term credit to tide
1800 30.00 vision or world trade that lies over her present sterling short Wood To Japan.
account (clearing) agreement with the sterling area which
ahead stays unchanged. It is és age, or some form of financial timated that the expanding in arrangement such as on open dustrial market of the United States will in twenty-five years need about double the materials now consumed. and that these
profitably can bb provided by the countries 500 25.70 the Commonwealth and Empire 70023.30 alongside the other European 500 21. dopendencies. 700 23. 1000 27.10
Washington, Jăn.. 6. Representatives of the Ameri- row would make room for temporary can Paper and Pulp Association
trade deficit
200 ** 10 1.500 & 10.20 Food » 1.93 1,000 1,0212
25.00
...29.10
Crawford 25.20
Almost the whole of the De- cember EPU déficit was also due INDUSTRIALS to a debt repayment, the half pearly interest payment on Bri- tain's overdraft with the Union. Receipts of defence aid from the United States fell from $24 million in November to $20 million in December. During December belpless
repaid hundreds of capable Monetary Fund $12 million of the $50 million that Australin Waterside work at the ports had drawn from the Fund in CONS wood pulp, factory
was built capacity production, and there is a Fijian reserve, and nearly
Textile Corp. 7.00 near Sarpsborg in 1847.
are difficulties in fling this gap al other forms of production are If this Australiar debt pay Today, there are 42 mechani-by importing wood from other largely dependent on Fijians.
There is also today a gradualment also came from the sterling MISCELLANEOUS cat wood pulp factories in Nor-
central reserves in Lon- The pulp mills have therefore expansion of Fijian sugar cane don It can be calculated that the way, 20 chemical wood putp factories, and 49 for manufac- had to refrain from increasing forming, which accounts for six sterling
arca in December turing paper, cardboard, carton their capacity in their efforts to per cent of the total output of carned a world surplus of $126 and wall-board. It is estimated reach stronger competitive
million. that.
at full production, they position. Instead, the stress has this mainly Indian Industry, consume 100,000 logs of timber had to be put on the reduction each day, 30,000,000 logs every of production, costs without in- or enough to stretch creasing output on improving
year
countries.
DRASTIC SKIRIMING
In addition, there is the fairly utilisation drastic skimming of Fijian youth five times, round the world at quality, on the higher on for the army in Fiji, and for the
of waste the Equator.
materials, to increase the total four-year stay of the Fijian 1st The value of exports from seeking the wood processing industry forest output by the utilisation Battalion in Malaya.
amounts to between one of the large quantiles of Umber quarter and one third of Nor- now regarded as second choles why's, total exports.
now
For unknown reasons, the total number of men serving with the material KINDS OF PULF
Fill Military Forces is not made public, but it is known that be- tive kinds of wood tween 800 and 900 Wijinu Rayon, so widely used today pulp, sulphite and malphate, the soldiers are in Malaya. In textiles, is a typical product main difference being the kind
RAYON TOO
aro
1940 and 1952,
London Wool
2
500 a 73% 2800 e 200 7.05 2000
Yangiste.... 0% 6.30
New York Cotton
Market
BIGGEST QUESTION
nf
In turn, all West Europe needs invest its engineering oldi! in the areas which produce the raw materials.
But in a prelimmary view, the biggest question is how, by exertion or other devices, sav- ings may be gained and trade expanded, to arrive at the mar- gin
of production that can be
called on the Administration today to repudiate a plna, for Otherwise she would have to selling government owned Alas- continue using dollars to finance kan wood to Japaneso Interesis. part of her imports from the sterling area, he said--China Mail Special.
Mr James Sheehy, New York the industrialist representing Association, gayo'a Senate Com-, merco sub-committee a state- ment stating the plan could tho economic run to
industry which produces newsprint and other low-grade paper products.
mean
US Commodity domestic pulp
Markets
New York, Jan, 0.
Mr Shechy sald North Ameri- can pulp producers "right now
Leading commodity futuraa are ready" "wling end anxicus"
to negotiate long-term contracts with all comers, including the Japanese, for all the additional dissolving wood, pulp they can
may be found in freeing com supplied trading Madership es
**** possibly uso.".
mo
over
made available or investment. This was by far the best
A solution put forward in closed higher today. Giralos showing for any mouth of the
some of the memoranda' circul-
were mixed, year comparing with « surplus
ated in advance of the con- of only. $41 miÏÏÏón in November
ference Impilles that ono key
and Cocon
cultés again New York, Jan. 8. and with an actual deficit of $15 million in October. The re-
The Cotton futures today opened serves may have benefited from steady and closed firm with ence will therefore return to a point of the year. Grains felt and
modily markets.
confer the futures levels in the highest Mr Sheehy old the Paper Pulp Association cannot some Russian gold in Novem trading broadening out a little familiar and not always
easy ber too,
with the weight of realising and reconella omejal concern though probably for more on the gradual rise, subject-how to reach, less than in December.
up to around the United States Scoring gains
and other hedge-selling which offset im- American forest reserves with plan a bale, the market reached consuming countries, long-term proved domestic flour demand. omncial condideration of the
for letting Japaneso control the highest level in nve weeks.
commodity price agreements.
At Chicago, wheat, closed up
Alaskor forest ossela, On this matter the American 20 DIY Nearby May went over the 33%
W cents; "koybeans, centa mark for cumulativn Government has shown itself
"If the agreement under con rise of almost $à a bold; from | cautious,
sideration is consummated, the Nor is there much of 14 to 2 cents.
never American people will seasonal low made the
on prospect of firm conclusions
WAS At Winnipeg, wheat Dec, 18.
being reached - in American
benent directly from utilisation the
main economie policy until the Spring, priced at 1804 cents per bushel & this wood, to which they Factora generating
the Commonwealth for No. & Northern, and for held the beneficial title," Mr the manufacture of paper sulphite production has not been siderably higher than one in
The wool tops futures market price-lifting power Included;
which include
provi Northern No. 8. It was at 105 Sheehy sald=iUnited Press. [5 1. Frospects for favourable plu completely fit then.
closed steady with a turnover of farm legislation; 2. Strengthen- sions for commodity agreements, cents.Unlied Press, There are also complicating 75. lots. With the addition of lye and used, but plans are in hand ten
for converting it to fuel con-
Closing futures prices ing abpes for an early pick-up for freeing commodity markets carbon bl-sulphide, the cellulose centrate, forthentable, kugar and factors, such as the fieldence of weres
CHICAGÓ GRAIN is transformed into a yellowish-alcohol, Alrendy, there is a tuberculosis.
iida inexport buying of American and for freeing sterling, les brown powder, which is sub- Nourishing Dullness
Pillans are by far the supplying
greatest Mares
14k cotton; and 3. The raw cotton before the United States Clove
ernment surplus in strategie reservD,~~ |
It conclusione on sequently dissolved in another alcohol to thes Norwegian Wines
from tuberculosta sufferers
United Prodeje
In
If the young soldiers serving
of chemical wood pulp. Through of wood used and the chemicals in Fiji were added, the própor-
a series of processes, the tim- used in the bolling seld which tion of young man withdrawn ber is first converted into cellus dissolves the impurities. lose, which comprises the basis
Until now, the waste yo from from civilian life would be con-
for
as well as of rayon,
Syrupy
of
1yá solution to emerge as a light and Spirits Monopoly which of will, though exact figures are not brown
substance known this basis procides cheap types pubdified. As Viscome
of aquavit, brands and liqueur,
Other by-products now. Being The viscose is then filtered and forced through a jet with manufactured are thousands of microscople holes, tannic solds, rothycol, Beings are
Tops
London, Jan. 6.
Beatember December
But in the Exetön nione will Tilians from
Prices, pens
New York, Wool tops futures closed today blomman palj
the smallest of which are no plastics, sky waren 18 on and numeried by the Indians, steeds. Prices
more than seven hundredths of acids, animal fodder, non and th
a millimetre in diameter.
Inflammable film, albumen rich changes
Upon emerging, the viscose Staminavouring nätet! Bles, socks streamuri estärke Baţă" of BUIG JATKAMA VAIRAUSA #AVErla,user need phurto felt which enure them in the part des slkéquet. Inu
-Will, be taken
of the Plan't tell Nội đi thi Ministers need to b
Exchange Rates plan their investment-boltólica arch sodir
for the Commonwealth on the Smy two opposite mumption el ther
conora, No. %, yellow
nob
Singapore Rubber
Market