Page
THE CHINA MAIL, THURSDAY, JUNE 3, 1954.
The scene around the trading ring when the Liverpool cotton futures market re-opened for business recently,—Express Photo,
Archaeologists Solve The Mystery Of The Headless Statues
Famagusta, June 2.
A systematic mutilation of pagan statues which were too heavy to move is believed to have been carried out by carly Cypriot Christians at the ancient town of Salamis, five miles north of Famagusta.
This is the explanation, given by archaeologists here, for the presence of a number of headless, and also some limeless statues found recently at a site which, though known to be pagan in origin, shows ample evidence of having been restored and used during Christian times. The current fins consist of a number of marble torsos attributed various Greek deities including Aesclepius (Medicine), Apollo and to Diana. In addition, several matching heads were also found, but some distance away from their complementary parts,
Uyprint archaeologists, Trently exenvations at Thut ople have abo revealed that the studying the finds, have come to the conclusion that bulking must have been dum- aged or destruyed several times if these statues were
diangɛ the 1,000 yours which purposely mutilated. prob. Jebreed from the time of ita ats fhual ably by the early Christians original creation untli
destruction following the Arab on the island who had
invasion of 838 A D
use for the clessical replicas. The talus and ...gment. [ statues were recover from the ste known as the Mueble Forum at Salmos, part of which ha recently bren iden Used loving originated in the fourth century BC. us a gymnasium.
W
i
For example, during the cur- reud exenvations, a water tank which is believed to have been pool of the the swimming
Was uncovered. 43 Munasium Pertalo biscriptions found over the pool, as well as the type of marble flooring round the tank, suggest that it was prob- The Jay restoration 14
bathing be ably used as a publie
the Christian Teved to have taken place In place after
whenstoration,
the sixth century A.D.,
the gymnasium was replaced by
a building of sine Chrisbauwhich must originally significance, although certam features of the pangues establish- ment were retained.
China Mail Book Review
Marriage Into
Endurance Test
Pamela Hansford Johnson has written a book about
IC-
The presence of pagan statuve have been grouped around it-found heaped in the pool at first pre- sented a problem to the
CX- ervaters. There seemed no good reason why these statues should have survived in an important building of the Christian city.
think
now
were
TRADE
and
Competition In US Auto Industry
Detroit's 'Big
Put The Squeeze
'Big Three'
On The 'Independents'
Detroit, June 2.
Competition has returned to Detroit and that means more trouble to the "Independent" pro- ducers who are struggling to keep up sales in face of the fierce, almost overwhelming_competition from "The Big Three" auto combines, General Motors and Chrysler.
Ford,
COMMERCE SECTION
Robert Young Wins Control, Of Railroad?
Naw York, Jane 2 Rabert B. Young, formar cowboy from Texas, ap- parently Woll control f the glant Nwww York Central Railroad' day- barring a last minulé legal roadblock,
This was the opinion in Wall Street following the announcement that election inspectors In Albany, had validated 800,000 disputed shares of stock voled for Me Young at last week's annual meeting. -- United Fress.
Even without the recession Detroit expected HONGKONG
trouble. Recession has siniply added its difficulties to the deeper causes of the industry's problems.
But first it must be realised that parts of the industry are still prosperous.
and
Ford achieved the highest | The key to the future will be quarterly profit of its the number of cars to be pro- history in the first three deed and sold this year
who will produce them. months of this year; and
Estimates of 1054 production although for the period have ranged anywhere from from January 1 to April 17 under 414m, to over 6m, cars 140,000 less cars were pro- probably
The nickst polistle guess is
50
IFL
the
region of will mean
still
this
year
ཅ།
in
duced than in the same
which 5. period in 1958, the output sind UIC rate of production of both Ford and General IT' Motors Was considerably comparatively high-that there higher than last year, and will be Ford at last achieved a 1946 ambition in beating Chevrolet for first place in production.
of controls The ending
and the continuation. of pent-up demand made 1953 the second 1st yetr In te industry's history with output
a substantial fall output and rise in unemploy- ment in the second half of the year.
STOCK EXCHANGE
International Tin Agreement Depends On France
London, June 2.
The French attitude to the International tin agreement may determine the fate of the agree- ment, according to tin industry circles in London. The agreement drawn up by representatives of all the main producer and consumer countries at Geneva last December, must be signed before the end of this month if it is to become effective.
All the producer countries except Indonesia and Thailand have either signed the agree meut already or indlented their intention of doing so.
Britain's signature the first to be placed on the document - technically covered Malaya and Nigeria as producers although
the
bo
MU
NEW YORK
STOCK
MARKET
New York, June 2,
A to reversal in a few lead- Ing issues sent prices down on the New York Stock Market fortuy.
countries will eventually required to add their own signatures.
Belgium signed on behalf of the Belgian Congo mad Ruondi- (From Our Correspondent) Urundi. Bolivia has
publicly declared her Intention of sign- Business on the Stock Exing and is expected change this morning mounted during the next week or two. to do' to $277,000.40, Noon quotations
Indonesia and Thailand have and the morning's dealings:--
fur given I offelal
i- SHARES BUYERS BELLEAH BALES
dication of their intentions but it is widely believed that Indo- BANKS
nesta is in favour of the agres HK Bank
ment and will sign before the INSURANCES
expiration of the time limit. Unipo Underwriters
Among the consumer coun- XD
tries, Britain, Belgium, India of the year. And the Netherlands have ready signed.
DOCKS, ETC K. Whart Dock Provident pre-
Wheelock
1033
1107 טו
830 640
.6 00
62 63,
1920 13.00
1000
1180
@ 1000
150
1000
0.83
part pro-
LAND, ETC. UK Hotel HX Land
O'
▾
30 36
304 on
200 8.35
means
that
can
10% 59%
rta
30
2283014
S'hat Land.. Realty
1.30
1.00
1000 103
2253
EV
+1-
by
Earlier Industrial shores interest in the aircraft group. were firm, and there was good
The reversal was touched off 14 points to 1801% following a Chrysler wbieli dropped report of lower production in May and the Arst live months
Bethlehem Steel also ensed, dropping 1 points to $08% and General Electric fell 114 to
the leading among
Increased
1,030,000
In-
CANADA TO SIGN Canuda has indicated she will $117 sign and though Australia bas dustrials been holding up her
Volume decision,
slightly, pending the result of last week's to
shures from election, it is believed she will 1,850,000
chares yesterday. also sign shortly.
Thero were 372 higher. 19 The Japanese Ministry of lower and 289 unchanged. Brade
today that Japan In view of the steady rise of would probably aizo. This many stocks recently and Star Ferry 23 30 25.60 1000 25.40 | leaves three important European the absence of any new develop-
France, Germany ments consumers
In this the industry sces 証
of re-establishment
the war seasonal pattern of pro- duetion when the major of the year's output was duced before June.
This of over
prospect while the motor industry net-and is acting now to some extent--as a sensitive gauge to
state the
of tha general UTILITIES economy, it will behave quite Independently
upturn of any of business in the latter part of the year.
A further fall would naturally depress cor sties still further, but a recovery is not expected to do much for the motor industry in its Im- mediate plight.
Bim. cars.
But by the autumn of last the writing on the wall year had appeared: demand was de- cling. defence orders coming 10 end, and the tightening.
economy
to
No en but the most opumis- the expected the 8m. figure b. mintained in 1954.
war
A more significant instication fr the future was the radio of own.crships to households: at The cri of the
thu number of cars per hundred hracheitis hurt sunk to belo the 1929 Jovel: by 1953 it had and elimbed to a new record
to Motieticians' curves pointed
in the rate of Ficwing
in business
suid
make up
in
to stimulate the market, their traders considered today's
Tram..
120 100 122 C. Light (0) 14.70 3000 14.70
Light (N) 11.40 11.20 2500 11.76 und Italy-to
1100 11.00 minds and
500 15.50
consumers. 28.20 20.00 266 28.00
400 20.70ment can come into force, at Bethehem lower. 600 at 23.00 least nine consuming countries, lost point,
holding together
Electric
'Telephone INDUSTRIALS
24.00 25.20 1000 20
Now
ALL CUTTING OUTPUT Although all companies
curtalling output in
less greater Or
tho degree in-industry's problem is still main-
ly a problem
the indepen- MISCELLANEOUS
Xangtane ... 8.00
Bumal
aro
Watson
1000 60
142
of
Car Ownership per 100 Households dents,
crease.
1029
1041
1010
1953
With
the
reedersfoo
сп
71.1
73
65.8
170.2
Impact of the ол increasingly
The Automotive News Almanac lists 1,689 names cur makes,
pus: and present, from Abbott to Zust only 19 survive today, and enly
of this group Are "inde pendents.
competitive market the advant-six
production in ages of volume
eulting costs rapidly
begun to
100
TC-
for
jell.
The $1,500m. that Ford had invested paid dividends: Ford joined G.M. as joint leader the industry, ond the Inde-
all specialist pendents -- like
In a falling market producers --began to lose sales.
Chryster sales at this time well in front of Ford last
year -foli
more inexplicably, the company's troubles Kenerally
to old- sttributed fashioned styling and to a need
and re-equipment agerial reorganisation,
of
but
the
Mon-
Archaeologists that the marble figures, being sn large and heavy, difficult for builders to remove. Indeed, so heavy
they were that they apparently
survived The earthquake which hit the In the 4th century A.D., town and possibly other disasters too,
The only alternative to
a marriage which was impossible long before the unhappying them was to deface the young couple ever reached the altar.
Appropriately it is colled "An | dominated her Impossible Marriage" (Mine-love-life
till then Millan Lindon). 1L IN never get "her Ned".
כון!
unsuccessful
would
even
more
bodles and SO obviate their significance.
These recent discoveries were made during the first of a series will of six excavations which take place twice a year from now until 1956. This work has been made possible by a grant of £1,500 * year for
three Fars, from the Colony's Divel- epinent budget.
simply-told yet typical story of can recommend this book to one of the thousands of those both men love affairs which never quite though 11
Inuke
and
would
women
seein
the grade, love
love affairs sulled to ing the idle hours which have been carried too of A housewife
between far and which degenerate into "elevenses" and timin.
the
Was
Miss Jchnson has injected into the parrulive a colourful array
remark
Interesting Facts
a rather cruel endurance test.
Christine was a "child" of 18. Net was her senior by 14 years of characters: Ned's sister, the
dog-loving and nover let her forget 1, but
forlorn widow Archaeological work at the even teasing could be carried Nelly; Christine's bowler-hatted site of the Marble Forum at
her bumptious first too far.
"beau", Leslie, Salamis was first carried out in Christine with her dear old Dicky who never gave 1800. The excavators, a British poetic, fanciful soul sought an Ideal love and in Ned she found Take Pinto", another
Ир using school-boy slang team, worked for only one sea-.
school- lusion of this love. Ned
son and did not return. days' boyfriend, so nicknamed moody, oddly
puritanical
For many years after that, it prefaced in his ways and with a distort-ecause he invariably
was hoped that a foreign mis- my
with ed sense of personal honesty.
those two
rlon would make words; pompeus, stuffy
Mr Survey
the site, of Baynard at the office where Possessive Lover
Christine worked,
her owing to lack of financial r And Ho wanted security in his cynical friend Carolino who sources, it became obvious that home and at his work but he couldn't live without love, who no such team could be expected,
Department was frustrated in his ambitions married "on the rebound" after the Cyprus
to Antiquities decided at last When his real-estate business Iris had stalen her true love.
clear the Bitc previously exposed
December 1953 Digging in Ned The story has a surpris revealed traces of an, unrecord-
rounds it od disaster and it becarne
Nor
failed he had to fall back on unsympathising parents.
was this all. For
WGA
friends.
Surprising Climax
to
und
thetr
funds
necessary
ayhe
of
zp-
P possessive lover unding climax which pettily jealous of his wife's off completely and explains why parent that further excavations innocuous young schoolday- Christine's strange husband at this site were likely to yield
finally decided
spcctacular results. Why when the Impossibility marriage.
But the Department's normal of the union simply shirlekod at But it a credit to the story
not provide the budget could Christino did she allow the to any that the climax seemed
to undertake continue to the stage of unnecessary. It stood on its own such work, although a grant of affair to marriago?
suficiently well. In fact it almost £4,500 from the land's Deva- Ironically it was her nighty seemed as if the author had
budget. solved the lopment show-girl friend Iris who met decided to tack on just a few
more chaptera to spin out the problem temporarily and on- Ned for the first time
abled a start to book to 343 pages, and in con-
be made. * before their wedding day when triving to do this had chanced
Tals year, Christine had already decided upon a perfect climax.
tho Сургия
Mines Corporation, would be no marriage.
Miss Johnson who was the an American owned enterprise This Bed Thy mining copper on the "laland,
there
This
a week
#
donation from
was Iris the notorioul, author with those fascinating the heartbreaker, the girl' the Centre" and "Catherine Carter enabled the first of the new who and the play, "Corinth House", series of six excavations to go could steal another girl's “beau” has an cosy flowing style, and in on- for two weeks longer than Just as oarily de abe could her reminiscences is not unlike would otherwise have been flicker her long templing eye- ir J. B. Pelealley, especially in possible.
her descriptions of her life-Dar Further work on Christine deforbined fore And
martiago WALTEN Xpected to begin in September, that this cranture who had PLINGE.
o number of smaller trend as normal.
Before the agree- Most Blęci shares followed US Steol
at least votes out of the 1,000 consumers allocated to sign.
333
voles
must
On the producers side, a
21.5
D
The NY Stock Exchange bond
volume was $3,080,000.
The American Stock Exchange volume was 000,000 shares.
Dow Jones closing averages
were:
rati 15 utilities
#Locks
20
370 DO
109.84
100.0
170.43
-United Press.
40 bonds Comm. future price index
Cemen!
.... 27.48
STORES, ETC.
Dairy
100 13.00 total of 900 voles must be ob- .....23.20 21
300 2310 tained. 200 € 22.40
Indonesia's signature, 10.00 17.40 100 17
controlling 500 16.70 producer
per 30 industrinja cent of the world production and 90 213 votes, is vital to the suctors of the scheme but her acceptance of the pact is not seriously in doubt.
arises on The problem
the
The United States, who decided not to sign the agreem ment but stated she would place no obstacles in the way of its effective operation, in the biggest world consumer and controlled u total of 400 voles,
of the New York Cotton side of the trement. New York Sugar
Market
633,400
Futures
Now York, June 2. World No 4 sugar futures closed today 1 point higher to 3 points lower with contracts.
sales of 269
that
Domestic No closed unchanged higher with sales
sugar futures
to 1
point of 723 cou¬
World futures
in
quiet
votes and gularly
341,700 price of tin which has been written into the agreement. They
0,500
241000
0500
101,400
4800
1,000
Future closings:
Contract No, 4 (world)
July
The mortality mate is perhaps
New York, June 2. exaggerated in that
Many
Cotton Tutures trading today names never passed the blue- print slago, but it is enough lo went through another qulet and show the Inte that the small inconclusive session. manufacturer has met.
At the close the list ruled up
FRENCH NOT HAPPY 4 The future
to off
Opening 3 points. Inde- for the
prices were
Her abstention means 7 points, up 3 to pendents probably lies in the
votes are left Now Orleans closed off 1 to 5 only $10
from direction of mergers--such 0.9) that
points.
which to obtain the neccesary recently concluded be- tween Nash and Hudson--or in
Trading volumes and open 333 to bring the agreement into tracts. Interests in the Exchange today force. catablishment
a single
moved irre- were:
France haw 55 body making Month component--or
Volunte
dealings. interest French consumers are not happy Domestic futures ruled steady agency for
group. the whole
July
27,000
232,000 about the £880 per ton ceiling with trade interests the leading At
10.000 present, however, the in- October
16,300 Deparber dependents
buyers. ore not yet in Marels tinancial difculties severe May enough to push them to a joint Getober
July PRODUCTION CUTS
the Increasing Tetai No sector of the Industry and against
Big Three. unaffected. competition of the today entirely
The Production bos in places been
complexity of the motor industry, even Ford has and Hudson found during their
moreover drastically cut;
(95) Nash now curtailed Its Saturday
negotiations for Nosh, Hudson, working, and
merger, Spat solution July Studebaker, Kaiser and Packcard makes a co-operative have for a long period worked for from easy. a short week
COMPETITIVE MARKET or even stopped production for a week or moru In a competitive market the on end.
answer lies in competing. The figures Big Three are now all under last year, as taking or continuing major re- the accompanying equipment programmes and the table, are the most telling guide independents are preparing for to the situation. In an industry the cold new world. where volume producion is the Before the war the automobile key to competitive success
its Hey
the industry was notorious for independents are week by week fluctuations; it is unlikely to re anding
more turn completely to this state, the situation alficult.
but the various phases through
Here the production compared shown
with
in
0
29,500 want this reduced to £800, 18,100 G8,900 1,055,000
(bales) -United Press.
NEW YORK PRICES
New York. June 2.
Closing Pricen
34250
October December Morch
May
Juty
October
34.35-30
34.19
3435
3420
33.381
are, In
There is similar hesitation by Germany and Italy is also not fully satisfied with the terms of the agreement. But Germany has stated she does not want to be the odd country out and will | probably sign if the majority do. Italy on the other hand is re- ported to be in favour of signing only it France and Germany do $0.
Trade sources in Italy believe the French and German Governments are being consulted so that the three countries can adopt a uniform polley,
Latest reports from Paris In- dicate, despite earlier misgivings, there is a good chance of France 43.70 nom. accepting the terms of the agree
-United Press, LIVERPOOL SPOT
Liverpool, June 2. Official prices for ips: colton, as announced today, pence per lb.: Egyptian Giza 30, good/fully/good Earelian Ashmouni,
good/fully/good
good/fully/good
Egyptian Karnak,
American mlading'
15/10 inch
Peruvian Tanguis, fully
42.40 nom.)
ment.
The other smaller consumers......
ASSGHAR
Open interest: 8,210 contracts.
Sept. Oct. Jan.
Mar
May
July
Spot-foents per ib. fob
Cuba)
Contract No. 6
July
Dept.
0.7ĺb
Nov.
5.7
Mar.
6.400
May
5.00
July
B.Bib
Sept.
0.00
Spot: (conta per lb cit NY
_ex-duty)
6.35
Open Interest: 0,15 contracts.
United Press.
49.10 nom. Brazil, Denmark, the Lebanon, London Rubber
In the first quarter of this which it has been act as a year the Nash-Kelvinator Cor- reminder once again, that thero LM Inch 30.20 poration, for example, had a is no "normal" In the American net loss of $750,000 compared economy and that the past. Is with a not profit of $0m.
for little help in this caso as a the same period a year ago.
guide to the future,
US PASSENGER CAR PRODUCTION
good, 1-3/10" inches ... 41.00 Indian and Pakistan saw-
Finned NT Bind choice 13.00 Indian and Pakistan AW-
ginned 4-7 Bing choice 23.59 nom.
Indian and Pakistan. rollers nom.
ginnad NT Bind......
Indian and Pakistan roller-
rinned - 31.05 nom.
United Prom. ·
LIVERPOOL FUTURE#
Switzerland, Spain and Turkey'
are believed to be watching and waiting for the bigger con- sumers to act-Router.
LONDON METAL
PRICES
London, June 7, The tin market was steady,
Liverpool, Juno 2. [load was quiet while zinc and Cotton futures, in pence per copper were stendy but quiet, 1b. and based on American Prices. In sterling per long, ton middling cotton, 16/16 inch, closed today as follows:
Market
London, June 2
rubbor
market WOR with No. 1 Ran Koot
at 10%
pence per lb.
The steady
quoted
Prices:
Jan, 1 Jan. 1°
to
to Apr. 17. Apr. 10,
1054
of
of total sales total sales first gir.
fret qtr.
Bestlement houm VeggieT July
No. 1 Has spot.. 1875-1816
1833-193%
AUZ.
1814-191
Bept.
19-191
3054
1983
Ost./Dec.
Chrysler
211.004 300-249
Jan./Mar.
1996-19
Chrysler Desoto Dodge Plymouth Ford
Ford
36,720
00,000
Apri/June
31,092
12.9
22.0
General market
08,290
108711
121471 S
closed as follows:-
Tinapot 22916 buyon 22015 setters
June
5-month-
alte
41
July
682,025
435,844
210
Deck Jan
31,40
Соррет арку 240 2-month
0403
Aug.
M
43715
Mar/Apr.
31.03
Lead Time
杯
Lincoln
15,070
May/June
"
10
D6%
Mercure
07.111
General Motors
203377
Market: The market tona qulot,-United Prder,
Buck
101,207
Cadillac
periolet
42/730 290,715
4:30,033
45,33
Undied Treas.
106,
Oldsmobile Portier
Kaber Motors
Packard
tudebaker
Total US. cutput
40,244
Sept. *** Zina · Jum: 01
Exchange Rates
NEW YORK FUTURES
Now York, Južno 2. Prices of metal futures closed today in US cents per lb. as follows. Dan done in the local and June
market this:
morning ́nt: the following rates?m
19-101
ports.
200/16-18 11/20
18
11/16-1876 Estats 'crepe, thin-2199-2132
-United "Prekt.
NEW YORK MARKET
New York, Junio 2 Rubber: futures closed today
10 do 18 points higher with sales of 39 contracts, t
Locally, apoi No.-1. Ras shoota were quoted 22% conte a pound. Future closingerp
03.196 (July,
Sept.
May
15, dellar Dor $3
Morling noćon (per 213.
Indonesien rupiah
Bhara, Honda (owe, 100),
·Singapore | Bigaštu)
Todo-China - padrós - (ber, 100)..
Tu
20:29 | Copper Jumpe
b-bla