Page
THE CHINA MAIL, MONDAY, MAY 31, 1954.
Rehearsing For The Royal Tournament
The Klaz's Trom. Royal Horse Artillery, rehearsing in Regents Park for their famous Musical Bide. which will again the fratured in the Tournament at Earls Court.
Islam's Public Enemy
No. 1 -Communism
Cairo, May 30
Communism continues to be one of the main headaches of Egyptian Intelligence Officers in spite of the breaking-up of Red cells from time to time.
Frequently described as the No. 1 Enemy of Islam, Communism is banned in Egypt. It must, therefore, operate underground, and this makes the work of the security forces engaged in combating it extremely difficult.
TRADE and COMMERCE SECTION
CONVERTIBILITY-NOW Airliner Flies Share Prices
IT'S JUST
A QUESTION OF TIME
From Our Own Correspondent
London, May 30.
Government talks over the last few weeks have resulted in an agreement on at least one important point and the clarification of A number of other issues connected with convertibility.
It is now generally agreed there will be no competition between various European currencies to be the "first across the line."
Unill recently West Germany was straining, at the leash and scolding its neighbours for their cautious altitude towards economic freedom. The policy of throwing controls overboard worked well for the West Germans and it is perhaps understandable they should be impatient to jettison the last important control— that which restricts the transferability of currencies.
to remove
Bil if there is now much less. uneerkanty about the "how" of convertibility there is still a good tart deal
speculation
VI
"when"
TWO QUESTIONS
But during his recent fore a decision is taken to make would then have to he cons visit to Bonn, the Chancel the pound convertible, That would be to unily the iwa re lor of the Exchequer, Mrsween "capital"
the distinction be-moining non-resident clauses of 11 "eurent" sterling- trunsferable And 1. A. Butler was able 10 sterling.
"American Account"--and enn- convince his opposite num PENULTIMATE STAGE vertibility would be achieved,
This could
clone by ber in West Germany, Dr
alechishing what
kown as Ludwig Erhard that
the curly
stevding," Broadly British Government has speaking This is
sterling ac- good reason to be circum- Íquired by
a foreigner Iran the spect in its approach to sale of securities on the London Shek Exchange and which can convertibility,
be used only for repurchase of i
This will depend fargely unĮ Тиете are problems in this sinflar securities.
Because of this restriction on answers to two questione I what! connection that are perultor te
security or the pound. For,
will happen to mess activiti 1 4 Fuch greater extent than the deutsch sterling was until recently quoted the United States
at considerable discount Irane 139 Track,
guilder, thet
other classes of sterling.
Obviously But at
British and other pound
un international
present
$2.79 European authorities will delay than its currency financing more
"witch" sterling is now almost convertibility half the world's trade. Ad-w
on par with transferable sterling mittedly it stands to benefit more and my fracismnily below the than other currencies from conte official rate. powerful gunrated, the Prime Minister, in
vertibilty but on the other hand an adders to workers in Cairo, bluming attacked CommuniqTA,
it must bear a proportionately Zonists for being
greater share of the risk. the 17 June! efforts to spent the creeİ only therefore 12 the
caution
before Egypt.
necesSpry plunge is taken but if there
be collective approach pound must set the pace.
By day and night, however, the watch on goes on in the Army, the Universities and among the security forces strike, they strike hard.
They struck earlier this month
rund
the
of
Communist activities the workers. When
in
Pourled-up Modems Brother brand twelve Juntor Cavalry The Egyptian Pome Melo, officers and about 45 divi. Laterant-Colonel Gamal Abdel es and to have known lians eluding journalista, Nat.
of the existence of the plot, ami "After the Arny Revolt I students and workers. They
gone to Borg-el-Arak, July 1952) and the expulsion of To loose were uflicially described as Alexindete, with Major ex-King Fagnak.
Prime the Abdel being caught "red-handed,” tineral
Hakim Amer, Minister said, "those who spoke
ut and though the full story of Contender-in-Chiet
then the INITI 01 Communis Ad Forces, to give the rot- what they intended to do
came out into the open to say the ROPERTI 11
that has yet to be told, there is men
the revolution wants fo was unaware
which, strengthen impertahısın evidence that they were what was afoot.
with parliamentary dictator. bent on creating trouble ot Leutenant Colonel Zakarta ship. has raised to all nur
Minister May Day (May 1), and may, Mohledala,
the sufferings in the past. of Army “Investigations have Alpana have had an attempted coup Indie and Director
Intelligence. few to Borg-el- that Zonism as
Con- erating us their ultimate aim.
Aral KIRI Told the Prunes munist organisations, Zionism, Government sources have dis- | Minister
Commander-m. a beautiful and shining work, is antl closest that add or banget to the Chief that the
forews trying to deceive us under The serurtly Chatel Front, a sallymgeground were ready to strike.
gulse of liberty and democracy. for til at
All three relied To nito
"Ziousts are misguiding the Acommunal desparation
To enable Zionism and the round-up of the phat- | people Jeatersłup Among those arrested irs was carried out.
the Nile Valley and Decupy were CommGARISES, Wafd sym
parts of tray and Saudi Arabia. pathisers, Sucralists ..fil
heavily Under the gule of Cutumunisti,
They are trying
you with honeyed words on equal-
Use
raising The ilving standards
of the workers. Ther tahren (peasants) and 1/2 But the prepte who have
wil
satather utit
With the conspirators
Erick key
Bak 507e
and
A Jinx Still Lingers
under
On "Island The World Forgot
Washington, May 30.
My
10
N
ben deretvet in the p
1.
The "Island the World Forgot" is being remembered briefly as radio amateurs ("hams") are waiting to listen for short wave signals from a tiny coral outcrop in the eastern Pacific,
klam, a
Ionely they were taken to the
But in cause
G2 11 670 est rules South-West¦ land.
the
main-
not be deceived again.
to
The Red Pasha Lleutenant Colonel Abdel Nasser then launched a person- al attack on Muhammed Kamel
et Bindary, whom he called the
"Father of Communisza"
WALK
ormerly Egyp:lan Ambassador Fayt Kamel l-Bindary
to Moses w and bernine of his acknowleged Commst sym- pathies, is known as the "Red Pasha,"
means
and
which
wor still of Acandles Mexan, is to go un; mages abroad.
tragedy "Kanel el-Bindary surrounds Expedia of received little notice at the tine. himself with vihers of the Unitest $ates Amateur โปเค Clipperton is a low, FREEW breed and lives a luxurious life entire its
a. ring of corni naughty seven alles in Cairo," the Prime Minister The storm-bu "iere) cfr.oner. around, enclosing a landlocked declared. **Yet he speaks of engine, disabled, recently had to lagoon. A singie high rock juts Cunimunism
Democracy radio for reseje ali
62 et trove the pea, risem-
claiming that these are the only Their
walt indkated | bling a salling ship frm a dis- dhe tress
by
the country that the isle still munies à jinx. tance, For on that insigaleant speck From 1943 until the end of each Its objectives.
"I met him when the Political of pick amid empty sccan, ten
the second World War, a United Parties' Reorganisation Act was degrees north of the Equatur. States Navy weather station was promulgated and he produced a necurred not
phucy and maintained un Clipperton, 2,000, plan for the establishment of a shipwreck, but also one of the miles west
the Panama
I looked through new party. rwst fantastic and tragie stories Canal and 3,000 miles east of
and remarked the programme that it was beautiful talk of the we have heard in the past,
only
ឍវ
in the annels of adventure.
Hawaii.
Although France now owns
Freebooter's Lair
Clipperton, until 1931 its clairu
Was untested by Mexico. In
What are the practica!
the years leading up to the first In 1705 the island reputedly asked. I got World War, fertiler was dug became the lair of John Clipper-reply from him." from the island, and a small ton, freebooting renegade mate Karrison was of the English Navigator William
the
Dempler.
means
for carrying out this programme? no satisfactory
after Forty-eight hours
Abdel Lieutenant Colonel Nasser's speech,
Major Kamel
Minister
of
had
to
Not uthwest the
The
Hecent Discussions have also clarißed the question: how much convertibility can be undertaken
one time.
certain
It is now pretienile that at first the freedom to con- vert pounds into dollars will be restricted Li "non-residents." Redients in the Sterling Arta would still have to obtain per- mission from the Exchange Con- of Authorities before they could make purchases from a dollar country.
113
UX,
"witch"
The elimination of this dise
between mitation
cupifal and current
sterling would be Fire peraltimile singe of making the pound convertible, All that
NEW YORK
STOCK
MARKET
New York, May 30, Stock prices climbed again last week and the industrial average closed at thing however
since level highest will probably be done be the
October 18, 1929.
There is Chat
ስካነር
2,000 Experts
Attend Conference On Textiles
was
noter
40-
there
is any evidence of a FEVERSE 11 in the American ceanny. But
time should answer this question
-und a short time at that. ready there are signs
the Lat downward
curve of Amerfran activity is beginning to flatten out and American busineismenį are now confidently predicting. the resumption vfu fong-termi upward trend,
2
Aure reserves large enough to take the strom that may be placed upon them by converti- » Ability?
The answer a, No. but the British Governme has inade
no secret of the fact that ad- ditional backing will be needed : to support u convertible pound.
STAND-DY LOAN
A stand-by Joan will be needed und this can only come from the International
Fund Monetary and /or the United States. Thus i is believed to have been one f the subjects discused darbe the recent visit in Lemon of Me Randolph Barges of the Ameri can Treasury..
exchange
declared
Over The North Pole
Stockholm, May 30.
here this
A Seaudinavian Airlines plante, the "Lell Viking."
buck waved evening after a Polar route etory le Train Tokyo. about one of a half hours alend of nekedule,
The aircraft, which pass- ed over the Reographic North Pote How the kind Typ of His return from Fair. Imuka, Alaska, In 14 hours and 37 minutes instead of the scheduled 16 hours, France-Presse.
HONGKONG STOCK EXCHANGE
of the Steek
Erratic In London
! Our
Owo Correspondent London, Maỷ 30. Mr Eden's hurried return from Geneva for consulta- flons with his cabinet col- leagues, the rumoured
į sinking of a United States
Atrike in
warship in the Far East and the official railway Britain — these were the factors which contributed to the decline of prices on the London Stock Exchange in the first two days of last week.
in the gilt-edged section
tho biggest losses were recorded i andatex locks. Old Consuls lost 1770 on Monday and unother 107 on Tuesday.
La
Losses also predominated the equity market but the de- cline WOR short-ilved and Wednesday's recovery took the Financial Times industrial share Ex-dex to 151- a new high. Firner conditioras
prevailed until Friday when fears of an extension of the railway strika caused price to dip ngain-by B 10
In the alt-edged section and one shilling in la- shustriais.
(From Our Correspondent)
Business change (pls morts! umeante E in 5020.711 56 Neon quotatters and the morning's deiligs
SAUNAS HUYERS SEULKIUS SALES
BANKS
a kit t
biggest price have been
Fly Book
End Asto INSURAN ES
Cintr Unde serateran
15:00 1440
170
ti
1.
The week's movements however
130 ኯ፡
KEL
DIY EN F
1912 ||00| Wheelch
WA+MI... 6,70
#'
LAND ETV
111
Ha L
4
Heily PTICES
Trath
#33 40 109...
| 20
5300 (
240
2
351
* 2000
1105
23 412380
1201
Pe
Star Fracy
120
212 1
shores affected by particular Company announcements. Thus Hui m's Hay gotted unobter 3/-
Monday
further
siderations of the
newe
-
that
the company's ol venture in Alberin
Min has *struck it rich" andt Vickers to a rally in ho engineering shares with a guión of nieponce on hopes of a big American order for the
corn-
20025 pony's Viscount aireraft.
ROLLS ROYCE ÚP Rets Royce advanced 4/6 to H on Wednestay following the BENOUDEVITA that the com-
500 32
1130 BOU... 14 (0) 1500 14 201
**E
14 15
30011
Sep21 0 2000 nu
pany's profit last year was the highest on record coupled with An inerease in the total distribu- Vieta muke, a 50 per cent tree scrip
issue.
On the other band Slemens droppe 373 to 407 on a sharp 1000 20 Full
In profits
1300
Light (1170
12
Electrte Telephe INDUSTRIALS
Cement STORES KIC
Dairy
2030 25 20
45
2330
Waton
500 17.
30 234, EEKL, "!!R
In the of market, Ultramars rose sharply early in the week, They gained 1/71⁄21⁄2 to 34/ on 20:30 1600 1400 1430 Monday and further nine- pence on Tuesday before slip- ping back to 337.
Kwong Song
Hewik MISCELLANEOUS
Yangiste Yumas
they have tallen
150
1,13
483
$ 12
143
માનવ
200 400
32/9.
}+2
Since then
further
The rise of Angio- Iranians to a new peak of £12-
11-3 Was ♫ festure of the market on
Thursday, But they reacted the next day to £12-10.
In The
Upset For US Japanese bonds, advanced
markets,
12
of
Innticipation of the listing
tertain of the sterling issues on
Administration Wall Street.
Washington, May 30, The Senate Anned Services Committee approved last week Ľ resolution calling for the
New York Cotton Market
New York, May 30. futures trading ex-
of the slowest
Rails were at their best levels for more than a year. Utilities olone closed with a tiny loss,
At the close
There are n auler of other of business on Friday, the Industrial average questions to be answered b.tore
berones a rhowed a gain of 72 points or 20 convertibility.
For example, will dealings i ngj per cent over the 1953 low set on September 1-1. Rails were pound and other currencies stili within strictly up 20.08 points or 22 per cunt, be
contned
Bmit or will and utilities, up 102 points or present nuriw rates 21 per cent,
be allowed to Auctuate more widely And The improvement reflected will convertible currencies be
- Government-owned in smelter with the for the high- | conaisteni investor demonad
Trade Texas City, Texas, to be con- liberalisling
Cotton grade stocks, although a broad policy
tinued in operation for another Paris, May 31.
important question also
perienced one for This is
that will take
year. and olle More than 2.000 experts special issues and selected stocka
weets of the year. gof time at the forthcoming The revolution bluers Con-
Priers see-sawed narrowly from 34 countries are con- of the major departments.
review of the General Agree-
and at no time showed a defolio gress in opposition to Die Ad- tho ferring here today on
Net als ranged 10 more ment of Tarifs and Trade,
ministration move to close down
trend.
At Friday's close the list future of nylon and other than four points
tow with a
It is noteworthy that spite the smelter by June 30.
ruled unchanged to 14 points man-made "textiles of the Figh priced shares making much of these uumswered questions a
higher, or unchanged to 70 cents wider advances. For example, new note of coniidence has crept | Th: Chairman of the Com bale higher than the preceding future."
to exchange in-superior oil of California closed into discussions of convertibillly nalice, Mr Leverett Saltonstall week's prices, They came
the week at 010 up 30 points.
prospects.
suid the resolution was ap Multiple uncertainties over- formation, hear lectures and
Commentators no longer pre- proved
the unanimously and said ranging
merket, thu discuss the industry's economie
the face their Steels ruled strong DS
remarks
with "if that the Administration orders Geneva Indo-Chinn situations, and technical problems at a con- industry reported higher_opera- |
becomes convertible would be reversed and the plus the absence of definite new Chicago S ference arranged by the Interna- tions, notably In the
They now
"When sanclter continued in operation.rop developments, and Honal Committee on Rayon and district. Motors were better.
And The resolution states that certainties as to how Congress synthetic fibres.
Coppers rose under the lead if sterling is convertible..
they are they make it plain
that
Will Anally is the wish of Congress
approve the price said Anacunda. Gains of a point talking Conference organisers
about something that the tin ameller should be cour support legislation, sizeable
com- world production of artificial more appeared in
will
before happen
another tinued in operation at least bined to depress trading. in na- double that of group of rails.
uni!} June 30, 1955. Mean- Gas second place tural
brought year has passed.
while,
would Congress utilities down.
advisability vestigate the maintaining a permanent
fibres was now wool and took among alt textiles.
West Germany,
A dip Issues
Britain and Bonds sagged slightly on the
say
Italy,
with France pisce, are the leading European For the month the industrial producers
in fourth week in all major departments India Wants
Sell More
To
Recent dullness in the domestic textile market, and the of heavy rate of producer redemp- tions out of the Government mestic tin-smelting industry. JUNE
Joun stocks, posed other handi- The Administration, through cups to the development of new
Reconstruction Finance Interests.
the
du-
Corporation, has already moved
to close the smelter by June 30, suspending purchases of tiz
orc.
Jute To USA
Washington, May 30. Members of an Indian · Jute
and Indo-
A
of synthetic fibres average showed a gain of 8.15 which include such names as points; rails, 6.20 points, and
tight supply situation will perion and vinylon as well as utilities 1.58 points.
be eliminated at the end
of the
better known rayon and Demand for stocks was sus-
the season, it was felt. Mexican Army
tained by a number of favour- nylon.
Speculative accounts, disap- maintained there.
Britain, 12 1914,
Austria, Belgium, able factors developing during
pointed by the luck of con- amic politicol up- The island was forgotten unti
week. Canada, Finland, France, Hol-the
MORE TIN NEEDED
clusive developments in Cotton, heaval in Mexleo and the out- 1858,
el Din Hussin, when До French ship
land, Italy, Norway, Spain, A spurt in. steel issues (01-
went over to the stock market Economic break of the first World War, landed a boat to holst the im Social Affairs, disclosed that a
Switzerland and West Germany lowed predictions by steel
experts predicted and the faster moving Dom- today that supplies for
of the "Red Pasha" colony on perial colours of Napolcan I been arrested for alleged com-
the United on the com-leaders that there would be no
States modities, like coffee, wool, eccon, represented Clipperton,
would soon numbering at least Mexico
be in the market and trans-United Press. provested, but did
mittee. Other delegates come steel strikes this year. 30 men, women and children, nothing else for 40 years. Then plicity in the May Day plot.
from Argentina, Australia, Expectation of further Gov-mission arrived in Washington for more Bolivian
RAW COTTON EXPORTS wore somehow forgotten. Ships in 1897, a year after another Major Hussein added that the
Brazil,
Chile,
Egypt,
Japan, crnment spending on aircraft last week for talks with Ameri- nestan tin oro now that opera-
New York, May 30, tion of the Clovernment-owned French man-of-war visited the husband of a former Princess
Mexico and the United States. helped to promote interest in con oficials about possible in-
Raw cotton exports
by crisans in sales of jute products | Amsler prices rose
a! Texas Ccly Island, it sent a gunboat of its whose name he did not reveal,
Among them are Professot that group
destination as reported in bales member of the
in the United States.
virturlly assured for at leest an- by the New York Cotton Edward Robinson of Cambridge sharply.
Ex- Good dividend news and fure
other year.
to Ownership of the island grow former Royal Family, were also
University, Dr Staudinger
The mission is headed by thu
change for 1954-55 scuson Attor
good year the
Corporation news
May 25 were as follows:-* garrison more controversial after a British Involved in the plot,
who won last year's ther Germany, One of the few newspapers to
They said they believed that Britain Commander, Captain Ramon de company received a concession
Bolivian offer nf, 10,000 teus Continent Nobel chemistry prize; France's sustained the list as a whole the Arnaud, took the only three men in 1906 to work phosphate de- Akhbar Al Yem, owned by the
plot wat E. J. Brandenburger, who in- United Press. still strong enough to pull cars posits there.
vented
sellulose The question was
transparent
Canada und set out to row to the main- | referred
twin brothers, Moustapha and to the International
wrappings; Dr R. Tremelloni, fand, 075 miles away.
at The They Court
Italiani Finance Minister; · Pro». Hogue with no Aly Amin. It published theo were never heard of again. result, and then to the King of Views on Communism in a lead-
feteor 8. de Meulemeester of A hurricane struck soon after-Italy for arbitration, After! ing article:
Belgium and Professor E. Land- wartie
Then the lighthouse | thinking it over for 22 years, the "In the past, when corrup-
bert. Bwedish Economi keeper went insano, murdered Italian monarch awarded lon reigned and class gape. Reuter. #
simply stopped going there.
་་4ས
Split His Skull
and another
comment on
were wide, we could find "ex- the remaining men, and sot him- Clipperton to France, self up as
king. One of the Other than the United States cuses for Communist agitatora women he sought to enslave | Navy wosthenia, however, only
"But today, following the killed him with
an axe as he fow shipwrecked fishermen agrarian reform, the declaration have lived on Clipperton, sinen of the Republic, and progressive
slept.
bd
Exchange Rates
and
U.S. Economic Experts To Visit Yugoslavia
was
Jute Mills Association, Mr J. G...Waltan. Members arrived in of ore, medo last March but Orient Now
and never accepted, would be taken Total fer, Keason
deputy Chairman of the Indian
York last Friday
American
330,042
1,101,020
1218.703 3.132.123
spent several days there inter- | up soon by the US government, "Samo porfod isst year 2339,134 vlowing
business The US already has a con- excluding Hosers.---United Press. officials.
tract with Indoncala this year
Jute in. India's main dollar 10,000 1000 110s of ore and Bank Of England
Statement
earning export. Indian Govern- tons of the metal. mont officinis' and businesses are Under the resolution', calling increase on Government. to continue now attempting” to Belgrade, May 90
London, May 30.. American consumption - of jute operation of the Texas Cily Alates which dropped sharply several smeller · for pnother your, as The Bank of England sinto- A group of United Fecunojmila' representatives arrived years
Government imposed quotas on Services Commitice, the. Con 20, roads as follows: Lurned to substitutes, such a during the coming year to de-Pubile deposits... extending economis
paper and the indiah Jute in- termine the advisibility. of Government securities My Between
the two dustry now inter the problem maintaining a porninnent domes. Other sporurities ****
Loc tin smelting Inclusiry. Dank: ratio countries, Tanjug, the Yugoslav of getting there mislombre Back, the
Ualted Press. news agency, reports.--Router.
United Pross
On July 18: 1917. after thron the tragedy of 1917. All that re«/.taxation, not usinests: wika- done in the lodhère by air today for a week's Ago when the Indian approved by ihs Senate Armed ❘ment for the wook ondéű-May Gnomolai manbangg market this stay in Yumomine volf/Ports. Many American, users grens would study, the situation: Note In circulation 1.813410,201%
years
scene that -
was visited by the United States from the phosphate era, a ruined as in my are not rouly ine
of isolation, Clipperton mained m 1949 were a few rails excumech.
that the Communi ship Yorktown while on naval building, or two and a rusted lats? patrol. Three women and oight steel jetty at the edge of the torosted in such reforma. They children survived. Their terrible reel, washed by surf-China only wish,toy annex. Hopfgesto story was pieced together as Mad Special,"
na Mall Specia
Starting notes (per #UM. pingwink Tràgy-will-
(par
fridones on rupials (per 100) 16 Blom tivala (ove·100) 'Singapore' (istraita) vestisi Indo-China planres, (per 10).
Private, supo
18.007,761
Fred