י
Page
1 THE CHINA MAIL, MONDAY, JUNE 14, 1954.
The Quren, in a summery outfit, is accompanied by Sir Humphrey de Trafford. A Steward of the Meeting, at Bursi Park Races on Whit Monday-Reuteryhole,
New Boom In Canadian Railroads
Ottawa, June 13.
new
A new era of railway expansion, pursued with the caution horn of hard experience, is under way in Canada. It is indicative of the
Canadian trend in national development and railway economies that the Parliament has authorised the building of two new lines to tap mineral
resources.
The more ambitions of the two ts a Canadian National Railways lius, 4 miles in length, designed to open up the copper-gold-timber area 42 € 1 zaman in Northern Quels, lying between the St Lawreur. Basın
ani Pulson Bay.
The second is a comparatively short line of 27 miles to link the main line of Manitouwage, in the Port Arthur the Canadian National Railways with the Lake district at the head of the Great Lakes, where exceptionally rich deposits of copper, zine and silver have proved a national sensation.
TRADE and COMMERCE SECTION
Slight Setback
WHEAT PRICES MAY
Matadors Refuse To Fight Tame Bull
On
FALL LOWER
From Our Own Correspondent
London, June 13.
Although it had long been known that the price of wheat was bound to fall sooner or later, the competitive price reductions by the United States Government and the Canadian Wheat Board have thrown the world's wheat markets into a state of confusion.
Madrid, June 13. Spankh matadorm pro. texted
because a *Lame" bull named Zahori WAS brought Inlo the ring during a Mastrid novillada. ·
They said the bull was heavy And Imposing enough but it ate out of a cattlenian's hand, answer- ing its name and allowed the
man to ride on
bitck.
They refused to fight it China Mail Special,
London
Stock Exchange
From Our Own Correspondent
London, June 13.
The break on Wall Street and reports that the fieneva talks on Indo-China are grinding their way to a deadlock combined to cast gloom over the London Stock Exchange last week.
The markets opened promisingly enough on
Before price cuts, millers had been buying HONGKONG Tuesday despite the fact this was the last day of a
only their bare requirements. And they still are. For the ten cents per bushel increase in the United States export subsidy on wheat-which effectively reduces the American export price by that amount and a similar reduction in the Canadian Wheat Board's export price may be the opening shots of a price war.
Indeed it is felt in the market that nothing short of a further substantial cut in the price of wheat is likely to solve the problem of the huge surpluses that are piling up in the United States and Canada. That, at least, seems to be the view of private importers-and it is they who, in a free market, determine how much wheat can be sold at a given price.
test
or
$155 per bushel. week's reductions
اء
STOCK EXCHANGE
(From Our Correspondent)
change
Business on the Stock Ex-
$28.734.
INSURANCES
Unkn
riferwriters
3378425 10 - 0
0.85
three-week account.
Fresh advances were recorded among gilt-edged stocks and there were several notable gains in the industrial section.
Broadcast Relay were
up
3. on dividend hopes and
IC.I. put on 4d to reach NEW YORK
"A"
-
new punk of
64 1012. Marks and Spencers were today amounted to bright, too, with the Noon quotations and shares 23 higher on the morning's dealings:- couraging
of the reports SHARES BUYERS SELLERS SALES Store's progress. But duller conditions set in on Wednes- day-first day of the new account-when received of the break
Wall Equities were generally lower though there WAS little evidence of widespread selling and the Financial Times industrial ordinary share index fell 0.9 to 151.6.
SHIPPING
Water Trul Asia Nav
11 po
175
DOCKS, ETC K WHI Provident 10:11 40 11
W
LAND KR
14K 15 BIK Hap
74 B 13
3.1
1
SLO Perry
24 10 IRU
200 24 70
Light (0) 19.89 14.30 Ch 1N1 10 80 11 344 Beetle
2110
The price of wheat in the
Despite last¦ world free market broke in
the price is the first half of last year this level.
at present some 20 cents above shortly after Britain with States tries to redtice Its surplus
So if the Unile drow from the International, by forcing importing countries: Wheat Agreement — and to take up their full quotes-an
Some members has been falling
of the Wheat Jess steadily ever since. But price still has a long way to UTILITIES
trade believe it will then the Britain's decision to "get fall before it touches bollom. out of the IWA" as a pro-
However, against the fixing of keep a proper sense of propor
s Important tu the maximum price under Hon. Some surplus of produc The agreement at 2.05 cents | don OVET cotisuruption per bushel did not cause the necessary to provide stock to During
1. the
fur
fall.
It merely hastened it fall back on in the event of a exatopie, a line od 141 mules has
crop Taflure due to drought or The drop in the "free" price other reasons. It would be ins been opened and towns
to below are
the maximum level
viting disaster
attempt to and rolling between Sternden
Axel under the agreement was
F and demand into being supply 151yun Lake an Northern Muni- used by a fall in demand by exact balance.
tola.
The result Importing countries,
1.rt despite some Litt in
of the! wheat production.
stocks of present situations Is that whlle' MISCELLANEOUS about
1,410 mathon bushels uns half of the world is won-
YANKAMA the end of the
ep dering how to dispose of It! your on July 31
wheat surplus, the other half is Bighest ever,
worried
hasn't because 11 is enough to eat.
In the fed quarter of the with developing reamers ad pl- "untioundly odd by 1 Twentieth century Canada d
podway aystems since Mi Benaid of the most Gordon, became utte
Come of Catania's mat "over-railroaded" countries ¦ colourful figures. became to the world in relation to President in 1950, Ba population.
A
1′′ Cake
vat! m
was, loveless
A Setish ann grant buy, Mr Gordon became deputy adway construction Governor of the Bank
Canada and Chairman pursued in the
of the second quarte, century, toward
Proces
Tende
14
3
of
wartline
the ead of women. however, Board. Canada's fare great system, the !
Canas Paedi and Canadian i The publicly owned Canadian Nation Railways were strained, National Hudways system
enotan (2«
Amst Imper
fay Line accusioned by World War Pav and Canada's and industikal expan-
154
Kreat
w351 formed after the flist world war
a number » Fall- to lake over
Farm E YALO # ways,
system by Si
i
auh To meet it,
*
Indof"
INIT, or
Touted he
I a
during
Cunda
red of salvation in war,
wa
nomen,
Nickel is now being produced from the new Lynn Lake mine, from exceptionally rich copper- nickel deposits, 110! it whole town and its inhabitanis had to be shifted from the worked-out aren of Sherrlidon townsite at Lynn Lake.
to the new
Turbulent River
This mvolved constructing 50 Henry bridges,
three steel Including
the Turbulent
Thornton, the Carndian Nation-bridges al
nevertheless experienced
very hard
* =81
great depression of the birties,
uver
Churchil river.
すぐ
Camps, fuel, materials, steel Canadaat National Bull-bridges and machinery a national he moved ways deficits
over winter trails headache
had to
w
when tuice- Ng toward railway expan- alon as changed since the war. The Lon
again em2 →
they
In
J
Dresensi
Will Up
Cifry -OVT
But the val
Irony
Che worki's Ingwirt require read
mean
This expecte roughly qual to the whour of the United States profuelion To make up an adequate diet
in the current year. It would be for the hungry half of the world
supply the whole of would enough to
providing edeli with another half pound day. And that would mments for two years.
putat another
would be require an extra 3,075 million
of wheat to meet demand for bushela sufficient imported wheat in Britain and about two and a half times the colords for eight years. much as the present "surplus",
Unitesi
States areti who hold the bulk of
IMO
The
way,
Canada tre [wenesta freeze-tip Tome Da this surplus obviously cannot Autumn and break-up
afford
to ku
aevumulating Spring.
Blocks at the present rate. Apart greatly expanded earnings after
from the actual cost of carry- the securi ww.kd WILL. Mr
Today, diesel locomotives are
Ing surplus-a formisalile Gorton's Brad task was to pilot | already hauling nickel
problem in itself--there is the through a revision of the capital † centrates to the Shefit Gordon
dimculty of finding sufficient spare to store it.
Takith seri tr active railway barked upon buitent programine demanded by vast mamral resources and the northward advance of the ecome fanter
Scottish Immigrant
COM-
structure.
refinery at Furl Saskatchewan, Even
to the Alberta, Mege striking
Copper concentrales Canadian public moral Mr will go to Noranda, Quebec for But the two new lines also Gordon's emphasis an inilway ¦ refining. Fresh Bah Ter flustrate another tread Thts | development In Canada to keep | northern Manitoba Jakes In the Vigotsko policy of ex-
Pace with work dem
for being shipped to Canadian pansra le njen up arul tle in Canadına natural resources. American markets,
Japanese Films For
Southeast Asia
Tokyo, June 13.
Japan is seeking new markets for Japanese films in Southeast Asia and also wants to expand her markets in other areas.
Fl
fre
h
DRASTIC MEASURES
The United States.
year-or
Australian
Fears
13
Melbourne, June 13. Omeinis of the Austentlan
Boartl Whent
warned today thit price rutiing by Canada teast, and the United Stules might
vi has been compeller to tako lead to whether collapse of Ur
10-
Manitouwage The new Chibougamau developIETIES. present pioneering in the same tradition.
işi
The
At Manitouwage
opera- tion comparatively simple, and re may be produced there at an estimated rate of 10,000 tons a day, necessitating an in- bound traille of merchandise of about 60,000 tons a year.
To The Arctic
Chibougamau
The
develop-
ment is designed to serve one and wo existing copper mine,
into production. The been served urea has hitherto
coming
drastic measures to rechne 1x market Similar to that of the surplus. The question is whether
1930's. last week's price cut with solve in problem.
The
recent trend
of demand by importing countries suggests that it will not. At any rate, the Liverpool wheat appears to be acting assumption.
The
market
[FI?
this
One official sold the trend was "very similar" to the price stashing war which was touched off in 1931 by reductions in the United States price of wheat.
The United States cut wheat
presentations."
-01
Canada follow-
Polepione
INDUSTRIALS
Cement STORES, ETC
Dairy
Walon
Kwong Song:
Ha
COTTONS Textile
2400
17 15 40
22), 23 10
164
*
un
news WAN
overnight
were
STOCK
MARKET
New York, June 18. Stocks suffered their first break of the year
Street, major
during last week.
Dollar stocks
among the hardest hil with losses rang- 1062030im up to 55. But gilts moved 1920 28 30 against the general trend and
showed gains of up to 5/-
20020 IN
LUX 138
On Thuring the fall of prices became inte widespread and losses of a shilling and more were comman, Hudson's Bay, which fell 4/4 on the previous day. were down
another 1/3 und among the market leaders, I.C.I., Unilevers, Vickers and
The bulk of the selling kit the market on Tuesday when the industrial average fell inore than six points. The stric in parkers of oil stocks accelerated That decline. Railroad Aft were hard hit.
Street Woll table reason
could
and no
for the break. There was nothing in the news 10 account for it, so It was ascribed to technical factors.
The main item In the break was the fact that many traders who had mude profits tried to protect their gains with slop loss orders-an automatic order to brokers to sell when a stock
Tube Investments were all be- seached a certain price. tween one und two shillings lower.
Gilta
On
Wednesday there WOR Juoved irrégularly. Further selling through most of Then the tide turned in demand but long and un- and prices steadied, then moved dated stocks leaded easier.
up slowly.
Singapore Rubber Medjun-dated stocks were still the day.
Market
Singapore, June 13. The rubber market opened an Saturday easler
The
markets
more opened
00
Armly
on Friday but prices be- This irend
continued
Friday the gan to slip back again in later Thursday. On trading and must of the better market made a smart rally all class industrial shares wore around with a few issues making
in sympathy, lower and gills showed lossos sensational gains. with lower American advices of up to 5/-
but later steadied on covering and manufacturing enquiry. The market closed steady.
Future closings;
TEXTILES ITT
were
These Issues
mid- Continent Petroleum and Union Pacifle. The former notteri Textile shares have been
more than seven points and the Among the week's worst suf-
latter cloned with a rise of 0% ferats. No. 1 subber per 1. June 03-60
J 凸 Coats were July 40-551a Aux. 60 publication of the full accounts
sharply after points.
No. Z rubber per lb. Jang 03-03!+ No. 3 No. 4
Spot rubber unhaled Blanket crepe
No. 1 pole crepe
(4-04!
marked dawn
the
These guins
buying mad finished
set oft 4/9- week
through the whole list. The -tower. Fine Spinners were an-rails - other casualty, losing 2/7% on Pacific. Steels got into action were lifted by Union
But Courtaulda and netted subtential galus. Qits followed mid-Continent. amined 1/41⁄2 en the jump in Motors and special issues prade proft and dividend.
615-6 20-70
-Unied Press.
NEW YORK MARKET
on
New York, June 13. Rubber futures
closed Friday 20 to 27 points lower with sales of 141 contracts.
Duliness prevailed in the spot
disappointment dividend.
with
the
Among the companies which a strong showing. announced plans for raising new copital were Rolls Royce, The
needs another company
£4 raillion of working capital and
Despite the small, Friday in crease the sales for the woul were the smallest for a full..
market with buyer interest at a this is to be raised by an issue week since April 10.
sub-routine scale. Spot No. 1 on June 17. tour per cent de- Ras were quoted at 23 cents abentures 1974-84 at a price of pound. Future closings:
Domino] of
of the foreign
July
September
December
March
May
July
23.20 23.70
£00 stock.
33.30
per
The feature
£100
24.10
24.30
2440
United Press LONDON MARKET
They totalled 9,049,268 shares, or a daily average of 1,920,839 shares.-United Press,
market was the full in Japanese brads, first on the news of s row in the Diet which caused New
the Prime Minister, Mr Yoshida to cancel his world tour and inter by the news of the country's deepening economic crisis.
York Sugar Market
United
Siates' and prices 10 cents a bushel last Canadian price reductions were Friday despite what the Cana- reflected in a fall from 22/4 dian Trade Minister, Mr C. D. per 100 pounds to 21/91% in the Howe colled "Canadian price of July futures in the
Three days of last
week.
London, June 13. Since then, there has been
The rubber maricet on Friday slight recovery In
was steady with No. 1 Rss spot the July quotation
bui
the price
Australian whent
World officials quoted at 10-11/10 pence per lb. on the week but Apex Anished wheat for delivery later
Prices: said to be "extremey N. 859 spot. 1846-70% year has continued to fall perlurbed" over the Cunadian- Settlement house term:
Given
the present statistical U. S. action but were report- July situation. It seems that only led to be walling to see how
Sept. sharp increase in demand for the Canadian price cut affected
Ц
cd un Monday with a 10% cents a bushel reduction..
of this were
A spokesman for the Japan Motion Picture Association said that one-fifth of the Japanese films exported last year, valued at $1,200,000 (about £400,000), went to Southeast Asia,
Exports of films to the arca | Picture Company which pro- shipped daily. With the build-imported wheat can arrest the her market in Argentina,
storted only two years
ago.
duced "Rashomon"
only by a provincial truck rund
over which 100 tons of gold- have been copper concentrates
and "Jigo-ing of the rallway, the mines after "Rashomon" had won one kumon," another prize winning | have undertaken to ship 325 of the premier awards at the film at the Cannes Festival this tons of concentrate dally.
Venice Film Festival in 1051,
year, said they hoped to cam
minimum a
year
of
fall
Det/Dec. Jan./Mar. Apr/June
A.
of prices on the world's whent markets. But this is un-
The Chairman of the Amerl-General markets, eff basis, poris: likely to happen-at least
not enn
Wheat Board, Sir John July enough to affect the Teusadale said today, however, Este crepe, thin
prospects.
he was awaiting advice from The proof of this is the fact his London agent. that in built the United States
The Association said that ex-
The Chibougamau area,
fur- short-term $5,000,000 ports of films in 1948, totalled
reserves has timber (£1,000,000) a year from next thermore, 60 features. 35 shorts and 102
by alm exports
estimated at 30,000,000 corda of and nowsreels. They earned $152,000 || $8,000,000 to $10,000,000 (£2 pulpwood, capable of a sustain-
cd annual
of 017,000 yield (about £60,000),
600,000 to £3,339,300) a year in
cords. It also offers farming Increases in 1932 and 1953 to another seven or eight years.
land,
important . So
to the $930,000, and $1,200,000 (£276,-
Province of Quebec where an energtie northward colonisation drive is in progress. This should Buccess, of "Genji Monogatar}" Mr Nagata estimated that help to push settlement up the at the Cannes Film Festival in the profita of "Jigokumon"
Quebec side of James Bay, 1952 and of "Ugelsu Mono- (Hellgate) would reach $1,000, arm
already of Hudson Bay, Katari" at the Venice Festival 000 (£333,300) by the end of linked by rall with lines in 1953,
through Ontario and Manitoba.
600 to £400,000) respectively were attributed
to the foreign
"Rashomon's" Profits
$2m. Target
another three years,
an
arc
2
194-199
14-
1632-20
20-20%
2011-2014 29-201
10 7/16-10 0/10
10 7/16-193
*3 United Press
19 9/18-19
US Raw Cotton
ontr
Exports
and Canada, surpluses have "The next move may come from
Canada or the United States continued to grow despite fall in production. The reason he said. "They are the
aro competing is that exports from both these who
to unload down
v. their hard wheat surpluses. If sharply
* further countries
cuts are price this year on the 1052-53 figures.
made United States exports have they will be bound to affect fallen by 44 per cent and the price of soft, wheat, There- Canadian exports by 25 per fore, we must be prepared to cent. Australia's exports are adjust prices accordingly, also down by 38 per cent United Press. but those from Argentina and other principal wheat producers are up sharply
INVITING DISASTER · The rising production. the Visionary perhaps: but with the wheat importing countries
The Motion Picture Assocla- Indeed, the member for tlon has set a target for earn Church, Manitoba, envisages inge from exports this year at the day when Hudson Bay will total $2,000,000 (£808,000),
be rimmed with a railway line (about The Federation of Economie Į of steel which will extend
the Mac to Organisations has advised the northwest through
Profits from "Rashomon" at New York and in Europe have amounted to $240,000
£80,000) so far, according
the Association. It exprels this Government to promote the ex-kenzie valley into the Arctic. to be raised to $300,050 (about port of Japanese nims Int
£100,000)
year.
exchange holdings in Japan
on last year's Bank Of England
in
has
Statement
London, June 13.
by the end of this | face of a shortage of dorci" in which this ären is so rich, failed to take up their allotted ment for the weok anded Juno world-wide demand for metals meant that most of them : have The Bank of England state- Bir Iwao Mori, producer of Japan lost foreign currency the intensity of the cold war quotas under the IWA And D, reads as follows the Toho Motion Picture Com-aggregating $201,000,000 (287 and the demands of the North this gives a clue to the future
United States action. pany, said that Dime which are 000,006) during the last financial American Industrial machine boing exported "must be easy year ending March 31, 1954 and the northward march of to understand for foreigners sa further decreases Insight, Canada's railways; appears DOT well as attractivo."
of
warns the Finance Minister, "Mr' fain, to continue toward the
Ogasawara, China Aretle Mr Masalchi Nagaia, Pres- Banküro
rim,-China Mail Spe- dont
the Dale! Motion' Mail Special,
cial.
10,792,69
348,700
Notem in Croatation.. *£ 1,037,160, For under the agreement, Pablla depants
Private depoata 191226 Importing countries are obliged Coveremediabcurities
to take up their full quota Other roue weeA KAYYYSKONEEN TH when the price of wheit falls Teppipta, down to the minimum level of
Bank tatto
Unhed Pro
New York, June 13,
Most oll shares
were lower
New York, June 18.
No. 4 sugar.
futures
7%d better at 55/7 on the closed on Friday I point higher proposed scrip issue and forecast sales of 75 contracts. of higher dividioxt.
Rubbers remained steady but
tens turned casier after a firm start.
to three
pointa lower
with
Domestic No, 6 sugar futures 1 paint
Kars after nishing closed unchanged to the old account on a firm note,
drifted lower later in the week though small gains were scat- tered through the list
LONDON METAL
PRICES
London, June 13,
tower.
Sugar futures were irregular In Ught dealings, Distant with buying months stendlied attributed to a belief that
an other year's operation of the International Sugar Agreement would find the world statistical Position for
botter sugar in
shape.
The lead market was firm, tin firmer. copper and zine wire
Domestic futures were about Leadler. Prices closed on Fri=| unchanged on further evening- Row colton exports by dos-day in sterling per long ton as up operations in the nearby Unations as reported in bales by follows:- the New York Cotton Exchunge
Tin spol for. the 1953-54 sensoh to June & 3-moni were as follows:-
Copper spot 301311 B-month
June
· 1,306,710| Lend
Britain
Content
Grient
Canada
Total for season
Satne period last year? FG150, 201
axcluding 3inters,United Press,
Exchange Rates
Sept.
June
Bept.
buyare liste
July delivery the feature,"
Future closings were:
20
2304
Contract No, & (world)
July
Sept.
Oct.
- 10
|| Jaru,
United Proti.
MAT.
MAY
July
Bunt-teents per iv. fob Cubnj
Contract No.
NEW YORK FUTURES
Now York, June, 13. Prices of metal futures cloned on Friday in US cents per jb as July Follows:
Bept, Tusiosa (Arad done as the local Lead June maniyada What Now. tinomio amotskrans market, this
July
..........................** 18,831 | Marys mereriner at the following rated [mm] : Tia June U.B. dollar (per $1)
July Sterling poster (per
1053 | Zino Jur
Bimes Monte, (our)/100}
ndo-Chatra piastrar (per 100),.
June
Copper Juls
bebid Istraded,
13,300) July
10.400 Sept
10. Ne
30.0014 Mont-fronts: por
(dua)