Page
Sister Francis Had Her Camera Ready
THE CHINA MAIL, TUESDAY, APRIL 13, 1954.
Sister Francis had her camera ready as Princess Margaret walked through the lines of nurses on her arrival to open the extensions to the Maternity Hospital at Kingsbury, N.W. London last week.--Central Press.
It Was A Bleak And
Miserable
Winter For Hungary
Vienna, Apr. 12.
The severe winter weather of the last two months in Hun- gary has set off a chain reaction of cause and effect which, working in a vicious circle, has seriously impaired industrial production, according to reports reaching here.
As a result observers believe that only drastic downward revision of the Hungarian economic plan for 1954 will prevent a breakdown in the country's industrial system.
Until the cold spell came, Hungarian propaganda had been devoted almost entirely to trying to speed up agricultural production, which had fallen far behind the plan. But in the last two months the Hungarian press and radie have devoted an unparalleled amount of space to indus- trial problems, especially those of fuel and power.
The
chain of reaction.
roughly this:
The drastic power culs which | Was
Schools have bern closed have resulted have |21 their owing to fuel shortage and the Luri lcd to illing JA the children have had to stay in factories.
unheated homes or play tho snow filled streets.
The intense cold and heavy BIOW reduced production of fuel,' disorganised the tran- In some cases workers have sport system, and at the same been sent on unpaid holidays. In time increased the demand others, in an attempt to hide
for fuel and power.
the situation, the workers stayed
TRADE and
COMMERCE SECTION
The US Economy As More NZ-Japanese
An
Seen Through Opaque Crystal Ball
New York, April 12,
Predicting the future of the U.S. economy has become a great American pastime and there was no let up this week.
Even some of the professional seers encountered new difficulties. Judging from the mixed tenor of the week's developments, the casual and unwary reader might conclude that business looks gloomy from the left and less dim. reading from the right side of the page,
Here are two typical reactions reflecting the cautiousness of leading observers generally.
Wily
000
Lo
show
tu
13
for
This
What
the
tox
Trade Forecast
Tokyo, Apr. 12,
New Zealand has agreed to ease its preacht Import rekiriofione ̈sh -- Japanteko goods and to give mort favoured nation treatment to Japan.
This was revealed by Me Hideo Kitahara, chief of the Fourth Section of the Foreign Office Esand, mie Bureau, who returned to Tokyo by ale lani night from a vialt to New Zea tat And Australia 10 negotiate on expansion of trade with the two boun-
lle said "New Zealand has decided to hold talks with Japan shortly for the conclusion
*kree-
*** 34
kend mes, tarifs and trade and the conclusion of the pset will no doubt result in an increase in Japanese exports to New Zealand?
said he was con- vinced following the meet- ing wills Australian off- ciál during his visit thai Japan's trade with the country also will #O RE
in the expansion
future Krodo, - Chias Special.
HONGKONG
STOCK EXCHANGE
3 Topics: Quality, Packing & Shipping
International Rubber Talks To Be
Singapore
Held In
Representatives
Singapore, Apr. 12.
of eight leading world rubber centres will meet in Singapore on April 22 and 24 to discuss quality, packing and shipping of rubber.
There will be 70 representatives, including 15 from the United States of America, which was a prime mover for holding the "rubber industry conference."
Other representatives
are from United Kingdom, Malaya, Ceylon, Thailand, Indonesia, Indo-China and Holland.
Representatives who will in- Jagreement ON processes for clude big names in the interna-arbitration awards on claims. tional rubber fold, particularly A from the United States, are down procedure
simple and clearly Jald for the pro- coming to Singapore way through to Colombo to at- delegates to the conference.
on their ceasing of claims is wanted by
tend the
There will be discussions on on bale,
ference
rubber study group meeting which opens there April 20,
that
coating and R.M.A. con-
The importance of the con-bales, talcum
tests, the marking of
in bales and im ference ls that It will be the proper wrapping sheets. first time
producers, The
problems under the head- brokers, and shippers in the ing of shipping and packing are East have had a wide on the obliteration of the shipping portunity of meeting Western marks, illegible consuming countries' representa- massed, pred shipping marks, mis-shopen tives in the centre of the world's bales. rubber market.
Thero have been complaints The present time has been by American importers that chosen
because rubber repre- bales have arrived in such badly Ex-sentatives would be travelling in shaped Condition that big amounted any case to attend Inter-problems have arisen in trying quotations national rubber study group to work the rubber-China
meeting in Ceylon.
Mall Special. Malayan rubber leaders carller
(From Our Correspondent)
The National City Bank, in its; concentrated in the durablo April Newsletter,
"The goods industries, said month of March hus brought no Les conflicting and certainly ricar evidence of business Im- more heartening for many ob- provement and, although the servers was the record construe opinion seems to be spreading | tion expenditures For the rat that the worst of the decline is quarter this year. After adjust- over, this is a matter of faithmont for ressonal factors, new rather than of statistical de construction
The three monstration"
The
month period was at an annual Journal
Commerce ale of $30,100,000,000. said:
"The
March figures are 50 Js higher than
both mixed that with a little previously forecast by Govern- diligence and imagination it is ment
agencles and posible to treat them in such $34,843,000,000 spent in the boom that (1)1933. President Eisenhower and recessionary trends have been administration
advisers stopped and reversed,
place (2) the considerable emphasis on trendstiil downward and (3)
the that expenditures for berth elements
for new are present but! construction might play neither is predominant.”
sustaining a a healthy economy. And 1 goes Uils week
Meanwhile,
the cxcise it was ther plus-and-minus reduction effected last week ap- offale Employment and peard to stimulate sales through-
Business on rise in March by out the nation.
the Stock unemployment re
morning But many are change this about 90,000-hun
appearing watching the Easter sales season to $720,234. Noon cancel each other.
Predient
Eisenhower twice Rave assurances that the drop in
tess activity appeared to be Newsweek magazine felt that BANKS levelling off, and there appeared if retall trade this week and to be no visible indications that next week stays within 2 to 3 the Government WIF unduly per cent of the corresponding concerned nbear the immediate
pre-Easter period last year, it business prospects. Instead, the will be considered satisfactory President Spok of confidence ground for moderate encourage- and signs of encouragement.
Meanwhile, the
war in indo- Any decline China and a statement by British per cent means increased worry, of more than 3 Chancellor of the Exchequer Mr the magazine noted, Butler combined
and also impart a more and more hedging on new jittery note to market prices orders. which had been
holding up boyand mony
expectations. A selling wave attributed to "war scare" arising from Indo Chinese tentions dropped security prices from one to four points
on Tuesday. Commodity prices which normally respond to war talk and rumours, falled to show decisive
trends. BUTLER'S REMARKS
busines
in the next week for further in- and the morning's dealings- dications as to whether con- sumers will spend freely.
ment,
Anything less than 2 per cent will be very good, evidence that the slump is levelling off.--United Press,
Big Jump In
Chancellor Butler's remarks London
that the decline in US activity must be watched closely and there was no certainty that it would not fall further before it reenvered also discouraged many traders.
Metal Prices
SHARES BUYERS SELLERS BALER
HK Bar .. 1033 1635 Fant Also 160
INSURANCES
Upton ... Underwriters
SHIPPING
Asia Nav...
DOCKS, ETC. K. What Dock
Provident
had
the
rejected a suggestion by the rubber manufacturers and the 1000 Rubber Trade Association of New York that the conference 850 203 20 or 2 be held in the United States,
FIRST HAND VIEW
7
40
18.20
(Old) ... 12.03.12.60
S'hal Dock "." T.WO
Wheelock
LAND, ETC.
ཨ་
1K Hotel Ek Land
rts. Humphreys. UTILITIES.
Tram
Public transport has been stowed down by the power and petrol shortage that worker have wasted more time going The already adequate sup- in the factories doing nothing to and from work. Families ware and were forced to accept lower have had to sit in the dark in piles of fuel and power roduced still further, causing wages
for this idle time.
unheated homes or go to bed to In any case the volume and keep warm. industries to close down
the Bo slow
cost of production WETE In additlen to all these The lack of fuel, especially seriously affected. coal, caused a shortage of gas,
troubles the breakdown of the producing transport Even factories
avstem has caused as well
as electricity, which heavy industrial equipment and shortages food, especially
were milk in the towns. offerted. The Lenin Iron and
This is the pleture of in- Steel works at Diosgyer
dustrial and domestic life in rold directly
as given by the
Electric C. 1. O. Steel-the big jump in the prices of rolled pro- supply of coil in two and 3,500 tons
reported nearly way". វ made
cust ducta less than planned on wc- open
from 200,000 members idle, or about of both tin and copper to ning re difficult, and count of the power shortage.
18 per cent of the total. That is now high record level for
of 80,000 in a bit the year. more than two months.
Spot copper opened this morn- On the sales front, the
the mixed
£0 ing
Friday's trend
in its turn also reacted on In- basic dustrial production slowing it down still further,
The
the
raw materials
Meanwhile, amidst
reports
3,000
1.13
The Malayan rubber men. represented by the Singapore Chamber of Commerce Rubber Association. wanted the Ameri- 100 12.0 12,00
cons to see Malayan conditions 12.80 at first hand.
The conference will try to get the use of Associa-
300
100
600 * 12.70
72%
7.05 800 NA
1000
724
1600
1000
1000 G
1900
on
an agreement 73
rubber manufacturers' tion specifications of type for ali rubber shipped from Singapore.
3200 a 7,00
691%
100 or 6015
100 34
18.00
27.70
100 27,70 1000 27.70
1000 # 27.70
100 at 21.70
500 27.70
2000 4 27.10 400 27.70
NEW YORK
STOCK MARKET
New York, Apr. 12. Stocks moved irregularly today with leading issues up or down fractionally and few special issues mov-
At present, much of the rubing a point or more either
ber shipped, from Singapore
graded as "Singapore Type."
A A representative of the
Singapore
merce
Chamber of Com-
G. CroDE
WAY.
Metal shares featured on the with gains ranging to in Cumax
Association, Mr upsido told
correspon-
afmost 3 points
Rails met sup
of available port near the close under the
raw materials, it has not been leadership of Santa Fe, up 24
while Bacing TOED al-
observers saw
to-
possible to grade all rubber points, according to R.M.A. type. It is most a point. only reasonable that we should Market
possible stick to the R.M.A, day'e action
as routine after tpye specifled by the rubber the steady rise in industriala to manufacturers Association
in new highs since October
dents: Since the
wer, because
Molybdenum,
of a deterioration
500 or 27 70
1000 27.70
Pk. Tram (0) 58
Light (0) 10 10.10 500 ‹ 10 & Light (N)
42 1.30 foie gin 12.
500 13
600 6 13.
Was
500 on 13.
..... 30%
JI
100303
100 or 3093
300 6 301
110 3015
as
a 3014
1120
30 Pho
600 304
20.40 100 28.50 copper
London, Apr. 12. that steel might be working its A feature of the London way out of a long inventory ad- metal market today Aestment, the
affected duced 2,000 tons of electro-sic | 11 press and by reports workers Union
Rome cases impossible, owing
to the deep
drifts of snow
and the hard frozen earth, and
More Severe
travellers Comin Buziapest.
Ay rusull of this chair reaction Hungarian Industry is believed to have suffered n which will have drastic were more severe, so that the repercussions DI the 1954 balance between consumer and economie The supply
of coal
We expital goods, which should have Special. already inadequate to meet the been restored
of Hungary's ex- industry.
In 1953 Iconomic polley introduced last has been thrown cut once
a Interfered with transport of In the light Industries pro-terrible set-back
from thr nines toducing consumer goods the cuts almost certainly
coal factories und towns.
demands panded
was claimed that 21,300,000 tons again.
tons. The deflelt in 1953
than
was
tion
woe
by
new
the
лек
an Increase
plan. China
major
Lung Cancer
the
of the
Deaths Rise
and
rate
was more
since
on up
Telephone INDUSTRIALS
Cement
Dntry
» 009
20.00
27 2000 20.00
300 * 20.00
1000+ 20,90
4.00
300 g 29.1N
500 or 20.00
171 17.80 600 1715 pronounced. close at £249% a ton. Three- STORES, ETC. Farm machinery makers, head month copper was quoted £4 hit for many months, are higher at £2374 n ten. recalling thousands of workers.
This was the highest price for International Harvester Co.,
the London market copper on manufacturers, said It
Last August. It weakence had recalled 8,700 workers in slightly on the day and closed the inst four months, with its at £247 and £235. labour force now at the highest
Tin prices were the highest since April 10 1953. At
£820 a ton which
level since
August, 1953,
this
Hry hardware sales im- morning's opening spot un was
In England are still logging.
Jast
Watson
Kwang Sang
Напя MISCELLANEDUS
Yenglaze Yawnati
Allied
500 kn 20.39
500 26.3
17.00
30 6
140
4.60
139 140 100 z
100
888888
€42593
G4
the United States and the con- 1929. The industrial ference wil alm at getting a concrete agreement on this."
22,
average a new top In early today on the weekend
Some of the problems under accumulation of orders, sagged
of quality beading
are $1.01 at
hoon
then recovered and
manganese
and steadily, closing just 20 centa
lower on the day.
Trading contracted sharply on
Singapore Rubber the decline. Despite a 40,000-
Market
Singapore, Apr. 12.
share first hour-best of the Rinoanted to
ume
shares compared with on Friday
New York Central was most
day
After opening a little higher active stock with a turnover of the market sagged on lack of in-86,400 shares on the final terest in trade. In the afternoon, a when a person could buy stock small enquiry of trade brought in the regular way to take part annual meeting next It is then
138 prices slightly above the lowest in the levels. Future closing were! month. No. 1 rubber per ib. April 9-891 Robert R. Young will seek to expected Mr. May 30-0015 June 60 30 oust the present
New York Sugar
Market
No,
*
point to $214. Of 1,104 frauds traded today,
No. 3 rubber per 15. April 68-50% The share fell bogement.
377 closed his 260
No, 4 Spot rubber umbaled Blanket crepe ·.... No, i pale crepe
004-87
03-68
0624-00 5888
0311-511 United Press.
NEW YORK MARKET
higher, 401 tower and were unchanged:
The New York Stock Exchange Bond volume was $3,882,000.
The American Stock Exchange volume was $70,000 shares. United FreSS.
year, of coal were mined. This was A drasti
system for admitted to have fallen short of rationing of
In power requirements by 204,000 tons. factories
introduerd
but department store quoted at February 15 by order But on
December 15, 1952 Council of Ministers. This gives
Ford was £45 up on Friday's close. the then
Motor Co. sold 30 per cent more Three-month tin at £790 and Prime Minister Mr M
quolas to Matyas Rokos!,
factory every the 90 said
cars in the March quarter com- provides for
£7814. the "punishment” economic plan for 1953 envisaged
Deaths of men from cancer pared with March 1933, at the factories which the
of 4,000,000 tons
Copper iradors said the rea- production
exceed their of the lung and bronchus have
same time announcing its Orst son for the continued firmness by still more more coal than
drastic Increased by 57 per cent, since production In 1852, which quotas
catbacks in nine of prices was would
punitive culs in power, despite 1047,
the steady de- tave been 23,300,000 the effect this would have on
it is stated in the pro- months.
mand for the metal from the for England visional returns
Westinghouse Electric, one
of Continent. obviously, therefore, greater production and costs,
and Wales for Factories using large amounts London
1953, Issued the largest manufacturers
of In regard to the fresh burst admitted amounting to
by week af
by the electrical current have been restricted Registrar-General. The rate perment, sporo confidently of 1931) chants my this has nothing to and equip-of strength in in, metal mer- supplies 2,000,000 tons,
to night time operation, which
of population increased prospects, pointing to a 11. per do Further It was recently ad-also raises the cost of produc-
with the proposed inter
New York, Apr. 12. The cent sales boost in January and national tin agreement, which
New York, Apr. 12. to 007 from 668 in 1952. mitted in the Hungarian press
Rubber futures today closed for for women remained
futures February
World No. 4 sugar Two big retall out has Intely been ignored by the closed today that the coal at present being The gas producing industry is
New York, Apr. 12, produced was 30 per cent lower alto in difficulties. The shortage pared with
steady at 09 _pr
unchanged to 310 to 50 points lower with sales million, com-dets had some bad news to market. The main reason ia
Dow Jones closing averages DB in 1962. in calorife value than that proof coal
report. Montgomery Ward sales sold to be the growing political points higher with sales of 340 of 172 contracts
Liquidation by recent buyers and Moody's Index on has led to increasing Deaths rates
Wall from all forms in March cased quantities of oil gaz baing piped of cancer during the year were duced in 1948.
22.8 per cent tension over Indo-China and contracts.
onestle No. 6 sugar futures put prices in to a steep decline Street today were as follows: below year-ago levels.
the
nod to Budapest
doubis from the Lispe
misgivings 2,185 and 1,836 a million. popu Thus in comparison with the oil fields to be mixed with the f
Elsewhere the National In- which
tho
one point higher to one of the close, with December Industrial surround coming point lower with sales of 184 pattion backing down almost 9/40 10,000,000 tons produced in 1848) cool
tation for men
women|dustrial Conference
men | dustri
Board Geneva conference.
cent a pound from the forenoon 5 iocka present production is therefore
Tin giroles say they expect This has caused a serious de-respectively; in 1052 the figures surveyed the impact of the de
highs. only the equivalent in calorifeterioration in the quality of the
atid were 2,151
1,050 respec-eline by canvassing 157 manu- the price will rise still further,
above the facturing companies, the course well 14,000,000 tonean gas, which led to a breakdowntively. Of the 45,024 deaths
upper May Increase over 1948 of only 40 per of the Budapest gasworks for certified as duo to cancer of the men 12,073 (28 per cent) were
Strong variations from level proposed by the proposed July industry to industry cont instead of the bousted 113 two days, the use of the pipe $1,900 deaths
and even international agreement unless Sept. January.
Jung and bronchus; of the
in the same there uncertainties are quickly among producers per cent,
Further,
of women only Industry. Many expect second dispersed. lines for gas instead of petrol 2,265 per cent.) wero BU Easier Seams
improvement, while has led to an acute shortage of certified.
Budapest, which has
The total number of deaths affected road tuberculosis in in calorie value of the coal transport, which could otherwise from respiratory tus provisional now being mined was said to be hava helped out the railways.
death rate from this cause be-
seemed to agree however that due to the mining of the essler
ing 170 a million persons. This better
seiling and production Lead April cent shows a dicerenso of 19 per
tileloney would play major roles from the previous year, more In the next few months. Much time has been wasted than 50 per cent from 1940,. by motorists going from pump and more than 80 per cent.
voluc of
The cause of this falling of petrol in
scans in order to full quickly One Had Petrol
as regards quantity,
Irrespective of quality.
the plan
This poor quality
coni
:
Tho The cuts in gas and electricity with 28 for 1962,
provisional
And
of
closed
To utiltles do Bond
The spot markets wore re- Comm. future price Index .. ported extremely quiet with No. Comm. pot price index
Moody's commodities index, 425. I sheets Indicated at around 21% cents a pound. Future
21.69
-United Press,
CHICAGO GRAIN PRICES
Chicago, Apr. 13.
32.18
21.73
12.18-20 PALER
United Press.
Wheit, No. #, fedő
Spot
May
Jul
contracts.
Future closings were:
Contract No. 4 (world)
3.40
4.30
3,38
Det.
3.30)
quarter
Tin
spot
3-month They Copper spot
Jesmonth
Jan: Mar. Metal prices closed today In May,
July some are confident the turning | the_murkota as follows;———
3.30 Bpot(cents per lb. fob Cuba) 3511 point has been reached; others
Opan interest: 3,800 contracía. manence or any upturn. were uncertaini as to the per-
Contract No. 6
3.385 May
3.386 closings: -
July
Bept.
Dec.
buyers sellers
Mari
820
May
TRESS
214
243
May
15,00
97
Bept.
6.77
July
Nov.
Zind
Apri
July
5,766 5.51. Spot-(rents' per lb. cit NY ́«x«
4.70 Open
Intmywett 7,824, contracts,— United FreIS,'
with No. 1 Bis epot quotað: 4
ibe Prices: 17% pence per
No. 1. po
Jime
30y/Sai
CAUTIOUS OPTIMISM Meanwhile, executives of loading mutual funds considered
h conservative type of Invest.
08
Exchange Rates
(duty) -Onlled Press NEW YORK PRICES also had bad repercussions on in Budapest to find one with since 1047. The death rate for transport and Industry,
and petrol in stock. On one day other forms of tuberculosis wha
New York, Apr. 12: added to the confusion caused by there was only
Prices of metal futures closeri one pump in 22 a million persons, compared | Iment-ruled, out any noverd the heavy snowfall. The rall Budapest with petrol.
today as follows' in US cents depression, with sentiment rang-peur Th way service has been slowed down still further. Breakdowns have not only affected Industry maternal mortality (excluding outright bullfishness, according to May
for in from dautious optimism to eat open line have on
have been but have had an irritating effect abortion), a busand live, and the Journal of Commerce. The Tia common.
on domestic life. Man and still births is 45, which com-Journal also disclosed that its amer The shortage and poor quality women returning hungry from paros with 59 in 1012 the survey of manufacturers ind of coal have direcky #flected the work have had to wait hours lowest ever recorded--and 100 ventories show that mot of Copper, April production of electric power. before they could cook a. meal; l'In 1081.
the inventory adjustment, waa
on the
LONDON MARKET ›
ng London, Apr, 12. -The rubber market was quiet | 20
didatilament hotiem, légpu
13.001
Businear was done in the local Janvi An official commoisasara
VIRU GULTS | |1oming, at the following rubedine
Bipin (Bireita)
6/78
16.10
thin
Prices beribuabei in vental
No. 2, Yadar
Closing Prices