Page
THE CHINA MAIL, MONDAY, MAY 24, 1954.
"Inside Secret" Of The Royal Yacht
Wan
This picture. the first to show the laterior of the new Royal yacht Britannia, taken last week as the nhập luy at Baitle Bridge Plez In the Pont of London. her berth since Nic arlyed after bringing the Queen an the Duke of Edinburgh home from The Royal tour. The 4,713-ton Britannia, buili ni John Brown's shipyard, Clydebank, at a cost of £2,100,000, is designed for us as a humpital ship in warthne, Star 41211. long overall, with a maximum beam of 5316, and has a continuous set-solug speed of 21 kunts. Her range 15 korous ts 2,400 miles, Accommodation for the Royal party and start is aft and for the ship's company forward.
擅长
The Queen and her husband leak A close interest in the
This pleture shows The Queen's drawing-rooni in the Britannia,
decoration and furnishing.
HONDURAS WANTS INDEPENDENCE
Anti- British Colonialism,
But Also
Strongly Anti-Communist
Belize, British Honduras, May 23.
3
Outwardly. the People's United Party, which won sweeping victory in the recent elections in British Honduras. is the antithesis of the People's Progressive Party of British Guiana in everything except violent anti-British colonialism.
Originating in the "Christian Labour" teachings of the Jesult fathers in British Honduras, all the members of the People's United Party are practising Catholics, Its "golden boy," Mr George Price, a thin, fanatical ascetic, at one time studied for the priesthood.
Members of the party strongly resent any suggestion that the party has Communist leanings and point to their programme statement: "We oppose Communism as a conspiracy against freedom, democracy and religion and as offering no solution to economic problems,"
Party leaders still deny
the end of the labour chest, deny | Red chỉ of the British
the charges of contact with Gunte- that there is any politicul tesuch- sense that alt colonials want to Itala's nene-Cominarist Gov-Ing at the Vollege
Kot of their masters. But erament, though most of these
we still try to work with them Faber accusations were uphold by Sir
Krama siod that be
for the time being." Special In fact, actively treaties app state.i by politics
Regnald Sharpe,
1 Sa
Losalon
itter
יזי.
incestigate
d the unionban M Flexydatnest that he 12 maix
assert the of thu (on- gress of hole trial (egamations Bettisic offerde u Belize are and the Anment Perlezoller of
linchingts
COL1
The Commissioner's Labour as mnganisations which
They have
aved for however.
JakRest
thal thepoties Peoples Roited Party's contact
stucessfully
Will Take Oath
They say they will take the ath of allegiance to the Crown required of members of The Assembly. and that there will be no repetition of the 1932 in- dent when People's United Party members of the Belize Connell objected to a Royal being hung in the
Mr Price ecranealed that the
で opportunstle on both sides ant General Worker Union leaders
leelevel that their portray Hims could best be achieved City Hall. be-through a political party,
with Guatemala may have been
has now been discontinued.
Themselves
This school of thought
lieves that
And One of the documents brought
TRADE and
75,000 Will Become Shareholders
New Profit-Sharing Scheme
For I.C.I. Employees
From Our Own Correspondent
-
London, May 23.
In deciding to start a - profit-sharing scheme for employees, Imperial Chemical Industries Ltd has given the principle of co-partnership in industry its biggest boost to date.
Under the proposed scheme some 75,000 of 1.C.I's total labour force of 107,000 will become shareholders in this £439 million concern and thus, it is hoped, "feel that they have a stake of substance in the fortunes of the company which they will wish to retain."
Employees will, in fact, be able to choose between retaining their shareholding or selling it for cash on the Stock Exchange. And that is the most important difference between the 1.C.1. co-partnership scheme and those operated by other concerns.
for
An employee's share in the ing the dividend is maintained profit will enry according to his at the present rate the scheme salary and the amount paid by will cost £1 million a year and the
company
will involve the issue of about ordinary dividends. One per cont of his 300,000 ordinary shares grees amual salary will be paid | employees each year. to trustees for each one per rent by which the ordinary dividend exoreds five
Th per cent. money after deduction of tax at
the appropriate rate will be used by Trustees to buy newly sued shares on his behalf at current market prices. Dividends on these will acetumulate for the purehuse of further shares
Tise heme comes into opera- tion after the 100 per cent serip issue which will Dareuse the company's ordinary capital to more than £140 millum. Assum-
Record Sales
Of Tobacco
In
Australia
Mareeba, Queensland,
May 23 Australian tobacco Auctions set new records this year, it was sinounced today.
10
COMMERCE SECTION
Warning On
Investment
In Britain
London, May 23.
A Treantry economie re- view and today that in- dustrial investmetal in Germany and the United States had risen In recent rear but had shown #ttle change in Britain,
A monthly "Bulletin for Industry" explained that Investment In Dritain had been Umited by steel shori- Ben, the defence pro-
tranime and the need to boost engineering exports.
Batt I warned: "An adequate level of industrial investment is casential to enable us to take advantage of the expanding world market"
WAS
It also said that produo- tion
running
well above last year's figures, which meshi a larger con- sumption of some imparted materials-Reuter,
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
"Financial Times" Index Passes 150. Mark
Share Prices Still
Rising On
1
London Exchange
From Our Own Correspondent
London, May 23. After an early bout of profit-taking, the London Stock Exchange staged a good recovery last week and prices continued their steady advance.
Monday's weakness was the result of the gilt-edged market overdiscounted the bank rate reduction. Those who had bought long and undated gilt-edged in the expectation of a quick profit when the authorities made the expected cut decided it was time to get out and prices came tumbling down--In the case of war loan by 17/6
to £87-12-6.
Tirose Industrial shares which shares showed losses of up to were not in demand on speelne 17-
11-w
wote.
account.
company news followed the lead. But the news That the But speculative selling of git- Hudson's Bay Company hust edged som worked itself out and struck all in one of its Alberta the markets closed the next day wells caused the shares to spurt
4/ to F10/-. on a much lanser
On Wednesday-the first day Other markets closed generally of the
buyers n firm with newspapers and allied turned in force. Mary advances shares particularly bright spot occurred among gilt-clged, the on hopes of an increase in the Ex-biggest being in the long-dated nowsprint ration. Dully Mirror in the tionalisation shares were up /14 to 20/9. In group, Electricity 3 per cent and the paper group, Anglo- cent all put
08/9 and shares in W. H. Smith, There
here were good features in the newspaper wholesalers, the industrial section to. Stores closed 4/4 better. were a bright spt und General Universal Stores "A" shares jumped smartly to 74/0 whilo United Drapery put on 1/8 t 64/-
When an employee has £25 of stock to his credit it will be transferred to his name.
stocks. sell it at the may then either ruling market price or retain it in which case, of course, it will a dividend at the curent
carn rate.
If the dividend is maintained al the present rate it will take about four years for an employer earning £300 a year to secunu- lale 25 wits.
"WRONG PRINCIPLE"
This scheme
Business O the Stock change this morning amounted to $202,748.00. Noon quota Uons and the morning's dealings- SHARES DUYERS SELLERS SALES BANKH
TAIS 45 or 1000 0125
HIK Bank
East Aula
INSURANCES
Lombard
XI
101 Wheelock
}
50
Union ED DOCKS, ETC K Whart Pravident
375 20. 130
CES
13
104.45
21K Hel HK Laid
11 30 2 3M
Rt 20
!!
2 1000 4 1.05
24 B0
has been wel. LAND, ET.
mediaancial circles though
not without reservation. The Financial Editor
of the
S'hat Lond
Manchester Guardian anticipat- fieakty
fag the initial renetion of existing UTILITIES
stockholders said "In principle
Tram
Star Ferry Cut (0)
Electric
25 700 24.00 10 * 2430 130
.... 27.70
14 14.20
20 720 20
500 27.00
Telephone
24.00
1035
It is perhaps wrong that ordinary capital should be watered down' in this way and the plan to dis- ¦ tribute ordinary stock umong workers сил only meen more recipients for the Company's INDUSTRIALSL carnings.
Cement STORES. ETC'
Watson MISCELLANEOUS
There are however at least three reasons for believing will on reflection their blessing to the
A world-record price of 210 stockholders pence a pound for totmeco leaf, Rive was paid on the closing day scheme.
the auctions today.
clay.
of
Tho chemical Industry, The record price was three which 1.C.1. is by far the most pence higher than the previous important single component, is
established lost Satur- record
on the Socialist Party's short list for nationalisation. The The Secretary of the Tobacco raising of 75,000
employees to Leaf Marketing Board, Mr P the status of shareholders may Martin, Loid: "The three-day not remove that threat but it
ules totalled over A £400,800,
will, is argued, give opponents Total income realised in North Queensland sates so far this your of nationalisation the support of #considerable body of "inside" amounted to A£1,130,000, a re- cord for the industry." United opinion if and when the Socialists are in a position to carry it out.
Press.
Dairy.
Yangle ... 0.03 4.05 Yaumati
Transport 3 per cent and 4 Newfoundlands Jumped 3/1 to
B/3.
The Motor Group was cheerful on the news of rising production und kost vf the leaders were p. Fords gained 10 to 01/- and other sharta advanced be- tween threepence and ninepenice. VICKERS MOVES UP
Buying of engineering shares in a market short of stock led
lo a number of useful Pike notably by Vickers which went
Big Stocks Of
US Grain For Export
Washington, May 23. The US Agricuture De- this week partment hopes
up 1/2 to 59/9 and Yarrow and to offer corn and other 005 b 27.90 Cu which spurted 3/- to 70%, Government-owned grains Wednesday, too, saw a revival for export at world prices of Interest in the oll market and in another move to unload most shares went ahead with
lead.
22:40 21:10 1872 221) Anglo-Ireplans up 12/6 to a new record-high federal stocks,
peak of £12-2-6 and Ultemmers it was reported today.
4/- to 33/4, well in the up
One official said arrangements The advance went 'urther on for the programme had already But he said a 3/0 were recorded in the glit formal announcement had been extged. But 12 was the equity held up to allow the State De markets which stole the lime-pariment give diplomatic notification to countries likely to be affected.
New York Cotton Thursday when mains of up a been completed.
Market
New York, May 23. Cotton futures pulled in two directions this week, with old crop July weakening while new crap months tended higher, in generally quiet dealings.
The day's biggest rise was m hares of J.
and P. Coats, cotton threadmakers which rose 4/- to $2/6 equal to the year's best on news of a dividend Increase and a one for one scrip issue.
Good dividend news was also responsible for rites of 2/9 and /9 respectively in Goodlass Wall, and Jenson & Nicholson in the iquidating | building materials section.
Ai Friday's close the list ruled of 20 to up 10 points, or down 1.45 1o up 50 cents a bale com- pared with the preceding week. Nearby July contracts came
persistent
The second reason why stock- holders approval of the scheme | under
Increased Sales should be readily forthcoming orders, based on the belief that
Of Synthetic
PASSED 150 MARK
to
He said there was no chance that the would veto
State Department
the prices for oversens buyers.
reduction
in
Ins
com-
At present world price levels are below US domestic prices
Since last November, when Government-owned whent was pinced on sale at world price levels, the Department gradually added other modities to the list in an effort In the Engineering group, to reduce some of its huge sur- Vickers put on another shilling pluscs.
advanced 1/8 to 72/0 while many
other
The Commodity Credit
Cor- Techniciars Ixpresied
leading shares made gains of up porntion currently
Owna 441.- theory that the new Liverpool to 1/-
000,000 bushels of com-about market has been running about
$721,000,000 worth-and is com- But Thursday W39 e: iefly mitted to take andhar 300,000,- a cent pound under a "true notable for the fact that the 000 bushels now under support parity" with New York and "In the first place," the paper that theoretically the difference/Financial Times Industrial share loan. Stocks of data,
the Guatemalana, founded the People's United in evidence during the Sharpe Rubber Expected king conditions nor for good for the end season supply tight-to 60/0, F. H. Lloyd
who have long claimed Brush Party.
Honduras as a
"lost proving
saw a chance to further
ambitions through this party.
When they Confiser that the
nationalistic
interest in it.
la suggested, was anxious
5-Minute Prayers
reanomie
to
enquiry In April. which WAR found by the Commissioner
have been written by Mr Price
that
relations
bringing
In
barley
has more immediate importance. the heavy producer redemptions As the London Financial Times | out of the Government loan pointed out, profit-sharing is no stock, added to the "free" sup- substitute for good wages and ply, had lessened the chances
industry. "But neas. though no panacea it could be a Washington, May 23. to Guatemalan official though The Reconstruction Financo very useful tool in Industry. An offfeind statement of abas it was unsigned, purported Corporation estimated today
INSIGNIFICANT party was actually Intensely by the College's labour
be party school
plans for winning
rubber that sales of synthetic and opposed tonys: "There is
during 'It discussion
sald of power.
States that
In the United the prin- foreign rule. whether Guate-
vital to employer and cipal objective of the party was August 1954 will show
index on 10- matters
burst through aald, "where there is a basis of should narrow.
the 180 and rye are not as inrge. matin or British. they
tost employer.
social The
and to win self-government by sup- crease of 22 per cent over exti-
mark. In fact it closed at 150.4, between workers: mutual trust
The net stock of 1953 сгор economile errors of Communism pressing colonialism.
mated July sales of 36,000 tons and management, it is a means cotton but
a rise of 7 on the day. It has sil in Government thus gained
The Agriculture Department ore highlighted along with the "the colonial system makes Im- Tho Corporation sald August
a full point since announced last Thursday It The People's United Party, equally pernicious doctrine and possible any violent
bales, last Thursday attempts sales will be around 14,000 long (not necessarily the only means) hands totalled 5,723,554
and now stands) would of
two sides closer to plus 1,693,830 vales from
reduce by the
13 cents a for
practices
In-gainst the status quo."
no less than 30.5 points above bushel the price of its maize, tons, which in 2,000 tons higher gether by associating employees 1952 crop United Press. support from any source in Its dividualisın,"
The
the document than the agency estimated 30 more directly with the success
Its level of a year ago.
barley and early stages, bui
UB COTTON EXPORTS
rye and would re- Party Krew wary
ailed, had decided to adopt a days ago.
of when it realised that the Guate-
the firm....In the second
duce by 10 cents Now Mr Price is President of
In the pil market, reports of its outa beginning Monday.
the price of York, May 23. at the process of evolution, timea
Advance estimates are pos place such schemes can do much malang hoped to further
their College's
Raw cetton Lible because Alumnt
by fold
exports of the require
in the deadlock boys) even disregarding unjust, laws,
Persian annexation claims.
to widen the basis of share destination as reported in bales negotiations Association and visits his former and to seek the support of Inter-
ment that large
caured a drop in purchasers
Until the change which will teachers several times a week. A national bodies, especially place orters 90 days in advance ownership in this country and by the Now
Ex- Anglo-Iranian ahares to £11-17-bring the
American The Governor,
grain prices Mr Patrick
scason 6 but this brought in large closer to world price levels--the deeply religious man, he always United Nations, At the
The Corporation said that thus create a genuine property change for the 1983-54 Mutr
umu Renison, told corres-
tho opens and cloves political meet the document was written,
buyers and inventory adjustments by these owning democracy."
shares were Department Was Belling the pondents just before the elec-
340.091 Anally 2/0 ings with five-minute
on the day at grains at domestic market prices, 1952, party supporters prayers.
up buyers may constitute part of always Lions in which the People's often of a grmi-political nalusa.
These arguments won't be lost
Minus signs. £12-5-0. the reason
for the STO United Nationa Bew United
1.C.I. share- On the existing Parly swept the
polla
crease in sales for August." and won a clear majority in the His speeches are studded with United States fing at their meet-
holders but being for the moet to achieving self-ings, which ended with singing references
The Corporation's Inventory part businesmen and human to "by government
Christian "Gold Bless America."
of_GR-Synthetic a
le as of April 30, boot they will probably be even methods."
1954 wes 83,700 long tons.
more impressed by the third It stimates Ita production
favour of accepting nagumont and sales for the next three the scheme that the effect of month (the first figure
down" rewatering.
ordinary presents production), are
D capital will be insignificant. follows: June 35,880 and 34,- 600; July 30,000 and 30,000 and August. 36,800 and 44,000, (ull long toms,)-United Press.
1:0
Legislative Assembly, that was mure that there had been no foreign intervention during the four-months' campaign.
and a
This enthusiasm for the
БЕСТАЯ United States
to have Mr Leigh Richardson, the faced since the Caracas Inter- lender of the party, and Mr American Conference in March, American Teachers Philip Goldson, the two next at which the United States most influential members of the stand on colonialism did not
are converla to Catho
please leaders of the People's way that they do.
United Party.
The influence fathern
the Jinult
of St John's College.
Film. Both
in Belize, on both the People's elded to join the Church "after.
British ometala 'here do not any
United Party and the people of studying the famous "Labour believe that there will be British Honduras, which is 65 Eneyclival" of Pope
Leo XIII. attempt to- overthrow the per cent Catholic, is generally which defined the Church's atti-Colonial government by force, agreed to be widespread.
tude towards trade unionism. ΓΙΑ WOR feared British Guinua. They believe that the determination
thie. People's of
Teachers
at the Colloge, The Colonial Government sub-
prinelpally Americans, with one sidises denominational school, United Party leaders to avoid
express gratitude for
or two Irish, began an adult including the College, and the any revolutionary activity labour course in 1947, teaching | Jésuits. the theory and history of trade fils help. unionism and encouraging the formation of credit unions.
In 1948, the men who
The leaders of the People's United Party are bitterly, and gi- British, aká anti-colonial,
Thego
туда
in-
Singapore Rubber Market
For as "Lex" the Financial' Times Investment expert observed the 500,000 shares a year that
York Cotton
to May 18 were as followe
Britain Continent
1,325,483
Orinat Casteda
2010.110
Total for season* Same period last year'
1
309:080p-eared in the oll list on United Press.
3,020.480
2,886,640 however
and Anglo- Trondans
excluding infers-United Prea closed at £12-1-3. Other of Japanese To Hold
Bank Of England Statement
London, May 23,
The Bank of England" state-
may be involved compare with mant for the week ended May 140 million witch wit already 19, reads as follow be in existence. However, by ita
mature the growth of the scheme Noles in orculation.. 21.00200000
pust always be in slop with Puble deponita .*** the growth of the business and Private deposite
Cavernment securition
of the pubile Investors' reluun. Other securties goo.
Itegiple
Both employees and' sharg-| Bank ratio Singapore, May 23.
Holders should therefore, wol- Tho rubber markof was come the scheme. But interest uncertaint on Saturday and eased in it won't be confined to thoro of all hily towards the closeimmediataly concerned. Future, closing:
reinforced by the deposition of the People's Progressivo Party Gulana and the consequent setback there to the achievement
self-government But of real think that some. tended this school formed the they say that they will try to General Workers' Union and in co-operate with the Governor in of the Josuer leaders 1930 the People's United Party, the next few years since they. Feople's United. Party Emferi No. 1 rubber per ib. June 914-06 The General Workers Union are determined to achieve well accept Communism-Iffit appeat- and the People's United Party government
No. 1 rubber per 15. Jurm consultational od in British Hondershark Hut
No. they consider that there is little | 275,4 danger of thin na domään "the" Bool rubber (berbal
have Interlocking leadership,
by
Tather A: '5.: Knopp, Superfòr
of the
of the Order in the Colony, and Mr Richardson stated shortly present"="top" Tedders keep con- Father, John Kramer, who is after the electionei. "We want to frol,... China: Mall Special. V
No. 1 pale crepe
Workers and managements all
319040.332
338 339 410
20878 AST
Egypt Bans Imports Of Ceylon's Tea
Trade Fair
In Singapore
Bingapore, May 23,
A Japanese trade fair is to be held in October or Novem- ber this year, it was fearned
today.
The Japanese trade exhibi- tion is to be preceded by two other trade exhibitions, The || first is a trade parade at the end. Colombo, May 28.
of June at which goods worth The ten trade was taken by $500,000 are to be displayed,
by. the Egyptian
10.310,851 Surprise
bo decision to ban the import of the parade will feature walk
ing exhibits" when men covared United Prem Ceylon fed Inst Wodnylon swith advertising signs and
This action will; kosme
lagars will stroll around the Great World Amusement Park
Exchange Rates
a loss of business oilmaled at
43 million Rupees a year
Ceylon exported to to Egypt
ok at the amount of 21 million
distributing free samples of the
advertised goods,
tredo, parade will be
over the country will stinty it hamon way done th the west pounds a year load at the lowed by propone de
closely for though not the uron sind wichs2
irst is the Beld, LCA at more at the
argaks -cornert) to embrace sterling poles
ip-and what's rodadone fià supalli
qually goodpore (Miraita) Microung
Indo-China : plastres" (per.
In the port, AN KHGS! It was
reported Epilan potion was taken as a Fatz which la an annual func -Fordít of Bayola iende, plet with dion.: Ono hundredt and ion "India, and therefore, viewed ni kalla Will" exhibit the products Kan economie
meaguro.—United | of many fóreign manufacturers.
United Press,