Page
Ingrid Bergman At Paris Fair
Ingrid Betgħlast, filni stur, pletured at the "Country Fair" held in the Tuilleries in Paris during last week-end. Muny stars of stage and screen altenfed.-Central press Plioja,
Tito's Press Bitterly Opposed To
Western 'Colonialism'
A
on
THE CHINA MAIL, MONDAY, JUNE 21, 1954.
Belgrade, June 20. Yugoslav ban two British documentary films dealing with Commonwealth affairs has spotlighted the distaste felt by Yugoslavia for the Western Powers' "colonial policies.
The Yugoslav Film Censorship Board rejected applications in May by the British Embassy to show to Yugoslav audiences the film "Burma Victory," about the liberation of Burma from the Japanese by British and Indian troops, and the film "Challenge in Nigeria" describing British attempts to develop Nigeria towards nationhood.
Although no official reasons were given for the ban, Yugoslav officials, however, let it be known that they were rejected because their pictures of the two colonies (Burma had nut, at the time of making the film, gained independence) differed from the official Yugoslav attitude.
The Yugoslav attitude is the United States for her policy based on the Marxist view in Puerto Rico.
that a colonial power kreps
giving orders to soldiers to fre
It Liny Africon and organising competitions
soldiers for killing?" under oppres.
its colonies sive, if not terrorist, sub- jugation und thwarts
“ነገ attempt at
progress
raising the standard living.
Or
पर्श
over
This does not prevent Yugo- sluvia from collaborating with the Western Powers European affairs or from giving a friendly welcome to visiting British delegations and parties, But it does result in Brillsh, French and
Americans being regarded with suspicion in all matters relating Asta or the Pacife,
k
in
The Anglican Bishop of Rangoon, Dr George West, visit. ed Yugoslavia unofficially May at the suggestion of U Nu, the Burmese Prime Minister, personal friend of his, who is
on President Tito. Several Yugoslavs, accustomed le regard British and Burmese as inveterate
after- enemies,
and called
when among
The Army weekly "Narodnu Armija' ("Peoples Army") said the British settlers, many of them mistocrats, had pusheri the Africans into small reserves,
Africans So that 1.000
were to live
forced
on
the same amount of land as was occupied wards privately voiced surprise that the Bishop was an English-yone European. The reserves did not afford Africans the "minimum fool standard," while those Africans
who worked in towns were paid starvation wage.
an and not » Burmese, The Yugoslav in ovincial press often attacks the Western Powers in terms stronger than those used by the main Belgrade daÜles and similar to die tone of Cominform countries" news- papers. Here is a
Cross-section comment.
organ of the Africa,
The Yugoslav press, which j all pre-Government, frequently publishes attacks on the Western
Powers over "colonialism.
During the last few months Britain has been untucked for
the
Mau
was
"Omladina" ("Youth"), the Yugoslav Youth Movement, In an article entitled "Shoot without hesitation" said of recent press console" that this unfer
The Novi Sad daily
tract- ("Diary") regarded
tional one in British
colonial Minu movement in Kenya as a policy.
The
then British
Frime national
Minister. iberation
Sir Arthur Balfour. movement with one him-"the ilberation gave it against the Irish many of Africans and the expulston years ago, Sir (then Met Win- ston Churchill gave it after the Inst
war against
gainst the Greek Re- sistance Movement, and it hid recently bren repeated in Kenya, Suez, Sudan and Malaya. The Belgrade evenlog news- рарет "Vecernje on United States voor
"Evening News"),
Puerto Rico, French Influence in Morocco,
her pulicy in Mulaya, Kenya, of the Europeans from Kenya,
British Guiana,
British Hon- The Mau Mou bad been duros,
Uganda
und Sudan; erilised for savagery, it said, France for her policy in Indo- but did
British the
officers China and North Africa; and "show any more humanity when
"Ring Road" Urged
For
London
London, June 20.
A suggestion that the Minister of Transport, Mr Lennox-Boyd, should set up a committee to re- consider the proposal for a road encircling Central London is made in the annual report of the London and Home Counties Traffic Advisory Committee, issued last week.
The
fluence in
ence
"Executioners"
TRADE summali
Just One
COMMERCE SECTION
Paris
One Nigger In Camels Startle The Woodpile Of Convertibility
From Our Own Correspondent
London, June 20.
Only one really serious problem remains to be solved before Britain and other major European countries declare their currencies convertible. That is how to prevent contraction of trade caused by "non-convertible" countries restricting their imports from “convertible” countries in order to
Parts, June 20. Sunday strollers, on the fashionable Champs Elyseo today were startled when Caravan or 40 Camels
A
appeared in a procession
out of a alde street to the
accompaniment of shrill
African musto.
Mounted by Turre (Sahara warriors) the camela proudly marched up to the Arc de Triomphe ald remained motioniers for a few moments around the tomb of the unknown Boldler-France-Presse.
RECOVERY ON LONDON
SHARE MARKET
From Our Own Correspondent
London, June 20. Cheerful conditions returned to the London Stock Exchange last week.
At first, prices continued their downward trend of the previous week due to nervousness about reports of an impending breakdown of the Geneva talks. Widespread losses were suffered
build up reserves of currencies that are exchange HONGKONG by industrial equities and a full of 1.9 un cue
able into dollars.
This problem was discussed in Paris last week by officials of the Organisation for European Economic Co-operation in preparation for the European Finance Ministers' conference on con- vertibility in London towards the end of next month. It was also stressed by the Chancellor of the Exchequer, Mr R. A. Butler, in a parliamentary reply.
of
A
STOCK EXCHANGE
(From Our Correspondent}
Financial Times index was the biggest for a long time.
Tuesday saw a
cessation
of small seiling, buyers re-
appeared and prices began NEW YORK
to recover.
But it was Wednesday before The markets really got into the
The strong recovery.
Prices of Utilities continuel stride.
in
STOCK
MARKET
New York, June 20. Heavy demand for rail shares on Tuesday hrought renewed interest in other
on funding operation all helped the market sentiment and evatributed
marked recovery of prices. On that day alone, the Financial Times index rose 1.8.
On Thursday, with Wall Street sections and there was forging ahead and the news from a revival of trading on the Cleneva taking ů brighter turn. New York Stock Exchange A 1030 equity prices
continued to ad inst werk.
HK Bank ... 1043 1835 10 1043
to rise un the Stock Exchange Wall Street, the news that Sar this morning under the impetus Winston Churchill and Mr Eden Mr Butler sald that conditions
of favourable news from Genevare to visit President Eisenhower their currently-earned pounds. and hopes of an eventual ease-in Washington and the excellent Im which the pound would be The extension of the transfer-fire In Indo-China. made convertible remained дл able account aven to practically
restilt of the Government's re stated
to $28.10 Trams rase by Commonwealth the whole The non-dollar turnover of 8,500 shares. Fume Ministers at their Lon- | world and the reopening
of Business amounted to $039,438. con conference in 1952. These free markets I Britaks for Noon quotations and the morn- were: the continuing success la many Internationally the internal policies of sterling commodities including some
traded ing's dealings:- prea countries; the prospect of that are essentially dollar com- anares BUYERS SELLERS SALES other trading countries adopting modities-has brought about BANKS poletes conditeive to an expan-ituation in which sterling is for sion of trade; and the provision many practical purposes already INSURANCES of adequate funds from the convertible. International Monetary Fund or otherwise
Progress has been most marked in the first of At the
end of 1032 when the Finance Ministers drew up their "plan" for sterling, the sterling area's gold and dollar reserves sexcel at $1,846 mullion. Hy end of last month they had
$1,139
creased by $2,985 million.
million
LOAN LIKELY
ANA NAV
K Whart Provident (0) Bhai Dock Wherlock
Linion
Underwriters 6.63 Lombard.. 31 SHIPPING
Waterbost
DOCKS, ETC.
10 10 0315
$3075 01
1,83
77.10 1000 14
2000
B.33 2,50 5072 k
90% 17.00 1.9714 3,03
7
7.00
8.45
300 07
20.10
HK Flotel..
ISK Land Humphreys Realty
Timin
vance ind number of good company statements added to the cheerful mood.
the
Hulls touched new highs for the year. Steels, motors, chemicals, aircrafts, some tex- tiles and olk, akng with specialties joined in the general advance.
SOTTIC
SLOWER RISE
By Thursday's close, Financial Times Index f in- dustrial ordinary shares, which hed sunk to 147.1 on Monday, was back to 150,0,
Prices continued their upward of a point to more than 2 points 1000 8.30 trend on Friday at a somewhat in leading Lasuca, erasing the
slower pace but there were many final traces
Progress towards fulfilment of the third condition named by these, Mr Butler has been only slightly
There less encouraging.
how Jittle doubt that some seems form of stand-by lown to buttress reserves when sterling is made convertible will be forthcoming LAND. ETC. from the International Monetary Fund. This matter will be fully ilscussed in Washington Inter This massive achievement
This year when The world's cltre only partly
to "special Finance Ministers meet for the ITIES factors". It la true the reserves
Fund's annual meeting. Ive recently be
benrited capr
But neither adequate reserves, mously by an influx of foreign
additional funds following the rumour that nor the promise of
from the to resources allowed
IMF. sterling would be
should sterling run Into tem- It's appreciate in value boyund
C. Light (N) 12.00 12,90 3000 9 12.02 82. Porary troubic in the early days 62.82. present upper limit of
1300 13.70 But this movement into sterling of convertibility, will suffice to
Electrie
29.00 30 1200 ir 29.07 1 than make the risks worthwhile anticipatory rather
tho socand <:lition zèmains
20 Telephone... sperulative and there has been
unfubbed.
INDUSTRIALS evidence since the rumour With the help of the I.M.F. STORES, ETC.
1600 officially
dented What
sterling could be made conver
241% 29.80, 500 or 24.40 foreigners are any less keen to hold sterling.
tible in sense that people outside
2100 4 24.70 the sterling area would free, to
.... 15.40 16.00 500 « 16.40 exchange their
(N) 13.20
06 13.00 pounds into currently-earned dollars. But unless there some AskAurances that countries COTTONS
was
no WIES
The rise of reserves has been chiefly due to the greater free- down that foreigners now enjoy in the uke to which they can put
•
Wheat Price Not Cut
By Government
Ottawa, June 20. The Trade Minister, Mr C. D. Howe, denied today that he or the Cabinet had
The
Govern-
de-
werd
Star Ferry
2500 or 28 2000 20.10
122
1900 14.00
financial
the
It was on Wednesday that the stocks continued to force ahead on good volume, with rails and industrial shares recording gains
of the previous good features, especially among week's break and the composite those shares which have been the market average touched Itz 1000 27.04 subject of company statements. highest level since compilation
One reason for this sharp turn- began in November, 1933. round of prices has been
Rails were the best performers G. Lighs 101 36¶1⁄2 16.00-8600-m-18.4 fruccess-of the week's-twe major--with-gains ranging to more than operations. The Are 8 points Union Pacific, and was the Government's offer to 2 to 3 points in Atlantic Coast holders of 3 per cent National De-Line, Santa Fe and Texas Pacific. 2300 @ 20.95 fence_Loạn, 1954–56 to switch into The strength in Union Pucuk, is ¡how 2 per cent conversion stock, linked with the company's ell
1958-59. The result
rather surprised and titanium holdings the market for no less than £282 than its rall operations.
Steel shares strengthened as million of old stock was converted,
Cement
2018
18's
2000 24.50 ME only £29 million to be trade reports indicated a five-
in cash.
to-eight-cent an hour wage in- The second encouraging sign crease for steel workers, to be higher that Cunds are avañable for in- followed by probably
prices, Bethlehem Steel and US vestment
in suitable stocks was| 20 the outstanding success of the Steel were the best gainors of Rolls Royce issue of £4 million the section.
Metal shinres were strong as of 4 per cent debentures at a the Government announced It
Dairy
Water
Kwour Bang
Kana......
200
138
Textiles
use
Yangtze Youmeil
...... 6.03 GA
6,15
140 148 200 m 144
300 143
200 144
400 * 143 100 147
Ailled ..... 17827751⁄2 1000 on 33
to
whore currencies remained in- verilble would not restrict their MISCELLANEOUS imports from Britala and sterling thus saved to make purchases from the dollar area,
could freedom
be currency maintained only at a cost of severe contmetion of trade.
Fortunately it 19 in
overy country's interest to co-operate Ju proventing this. For restric- lons against convertible coun- tries would almost certainly be followed by counter-restrictions and in the end all the benefits
New York, June 20. of the European trade liberalis-
Cotton futures would be lost.
trading went ation programme
and In- through another slow NOT AN END
the
of freer trade
further
has
and
repeatedly
=striction
programme.
of
prico of £09.
totalled more tha
App would
£24
make stockpilinit pur
chates at
the ruling market instead of setting
which means the issue was more than six times oversubscribed. peleo New
stock is
therefore expected minimum prices.
There were also sharp gains at сост
ណ appreciable premium on issue price when made by some chemical issues,
Total sales
for the week commence this week. amounted to 231,000,000 shares, dealings New York Cotton Rolls Royce chores have mined
u dally average of 170,200,- 0/4% to 94/4%.
000, against 0,040,265 and 1- The equity market has also 020 853 the previous week. Tho been encouraged by a number full week's volume was the of good company results.
smallest one sinco April 10. - United Press.
Market
over
ol
TEXTILES BOUGHT
Or
Shares in Fisons, the fertills Singapore Rubber
steady
Q
•
Market
Singapore, June 20.
"dictated" the decision to Nor must the aim be simply conclusive week-the 8fth in
fem, jumped 6/10% to 53/3 on the Canadian Wheat Board to preserve the status quo. As row,
Mr Butler
After fuctuating
aa surprise Interim dividend. to cut prices 10% cents a stressed, convertibility is not on
range of 31 cents a bale, the And British Electrical Traction bushel last week.
end in itself but the means to market closed up 2 to off 20 gained 5/9 to 62/6 on the an in
nouncement ci
dividend # The decision, he said, WAS establishment of a system points. The point changes were
incrcase and
200 per cent
The Singapore rubber market made by in- and British
the Wheat Board as
payments, equivalent to a rise of 10 cents
scrip kaue.
was fairly active last week but representatives the Sudion, wrote:
pr the grain It follows from this that Euro- to a decline of $1.45 a bale,
levals, traders Factors restraining new buy-
Textile shares have been in at the higher. "During the
few decades past
growers of the western
countries must not be pro- pean
Lancashire Cotton were becoming very cautious, satighed with a formula to pre-ing interest included the almost no fettle. vinces. inany things have changed, but
tone uniformly favourable
Corporation
held their interim says the weekly report of Holi- Trade Minister denied vent the past and present rulers or
day, Cutler, Bath and Com- trade.
They must also work crop nows, which indicate that dividend at 10 per cent although occupiers have not yet
charges that Wheat Board policy out a policy for freeing trade despite acreage reductions im-last year's pay-out included a pany Limited, was dictated nounced their desire and inten-
by the
The rubber broking firm ob- 5 per cent from its remaining restrictions. posed this year, there is still a
coronation bonus. ment. tion to remain munters in these
sirves there have been inquiries Shares gained 4/3 to 00/- on from all parts of the world on With the advent of convere chance for another big crop. territories.
The world price to be paid
The Government weekly sum this new and other lending for 1954 wheat would not be tibility, the European Payments
most grades and particularly onnounced und this
Autumn Union, which has been the chief mary sad the crop showed.im textile equities also went higher. rernille have been in good · dow and it would be set as high aberalisation
Instrument in the O.EE.C. trade provement generally.
Gilt-edged stocks have re- will we think can reasonably
Prospects for form legislation maimed quietly firm. The feature mand. In spite of fluctuations, *****st aðdr, the undertone has at "Tuck power is still stuff.
be cense to exist. And this raises remained blurred. But BOING dong," he rald.
problems. The first quarters Bupposed a favourable the on market has been tho all times been good. two major ciently great to enable them to
"of Angio- advance Wheat Tie
The report sy the price Board delay temporarily the natural
wanted is how to provide credit facit compromise may yet be worked Iranian shares which are now loval is becoming attractive to historical process of the libera
meve experience with current wheat marketings before illes now automatically ovaliable out to circumvent the division at a now peak of £12-17-0 after
have forward estates which Hon of peoplos, to postpone it
between the
Ad starting the week at £11-10-9. sales in view, and some trade
on Other oil, shares finished higher interest is for a certain time and thus
elding what the initial payment from the Union. The second is of opinion should be. The
In current initial how to prevent a breakdown of ministration and Congress
boing shown tho trado
flexible v. rigid supports liberalisation pro prolong their rule"
for after a slow start. The project, known as render unnecessary many
price of $1.46 for 1953 wheat
distonnt forwards and fair trad- Lotta" "A" Ring Road, was aban- the road improvements in that
next year.--United Press. ("Our
Copper sbares are back in the Ing in these seems probable in would be paid until midnight, gromme in the July 31.
reports According to
from doned in 1950. The road area which the London County Struggle"), published
news and prices have gone ahead the near future. RAW COTTON {EXPORTS Yugoslav Zone of the Trieste
oficials Paris, O.E.E.C.
have
strongly Council now consider necessary.
under tho lead of Now York, June 20.
Stocks In the United Kingdom would come from the est
EXPORT WHEAT Territory for the Italian popula-
Nehanga Consolidated, which at the end of last week ware Canada had across Baker Street, swing long term be cheaper than the authorities
340,580,000 explored a number of possible
Raw cotton exports by de "It would probably in the tion, sald: "The English bushels of wheat on hand for solutions and then will receive stination as reported in bales by spurted 18/9 to 20 on an unex- 4,000 tons lower, and those. In
in. Malaya
pectedly south-west,
sharp increase in the Singapore at the speak tunnel
end of May under piecemeal Improvements other about banditism in the jungle,
export on June 4, some 34 per a detailed examination by
the New York Cotton Exchange, Finance European
Ministers for
to 100 per cent were about 7,000 tons down. Hyde Park and cross the wise necessary, and it represents but it is really a movement of
more than at the same time
when
the season of 1953-54 10 total dividend they meet in London
after last year's 75 per cent. Thames either by tunnel or a much more posluve approach liberation.
Last year, the Bureau of Statis under the chairmanship of Mr Juno 15 were as follows: ties reported today.
Britain
368,015 bridge.
to the problem, and one much
con-Continent Butler to discuss their more likely to produce a real India after the
... 1,847,039 The report on visible grain vertibility plans. Britain had had to give up
Ortant
1,200,0 second world supplies In North America eni
Canada
234,900 In most parts it would be a improvement in traffic condi- war, but had hung on to Malaya deliveries by farmers during the
It has been suggested that Total for
3,404,700 sunken road. Slip roads would tions in London."
the same period·lant- yanı” 2018,317 to try to preserve the monopoly week fell to 0,001,000 bushels some of the functions of come into the sides and bridges
"excluding Jinters-United Prem, from 7,018,000 bushels in the car. E.P.U.. might be taken over by Only road improvements of of big British rubber truste, it would carry other ronds across minor importance had been put said.
responding period a year ago. wider. international organisations, in hand this year. "No rent im-
Export clearances during the thus enabling more countries to "But in Malaya, also, armed provement of London
week amounted to 3,714,000 beneft by them. For example, traffic oppression and barbarous TC-
buabels, compared with 0,614,000 the International conditions can be expocled unill prints are shown to be in- our major recommendations for effective."
In the same week last year Fund might be n zultable body United Pics.
tophavido érogit facilities Lo accepted and implemented." rood improvements have Been The newspaper said that the
debtor countries, while the of the British, forces « In
responsibility for preserving the Malaya, were so horrible that, -- Expressing
trado liberalisation
'•could | 24.
ft.
Bold Idea
concer
of
at the
deoda
Whon
Nostra
cent
Britains goldiers returned Exchange Rates
The committee's report states: "In our view this is one of the fow bold and imaginative ideas which have been proposed to growing seriousness of traffic from Malaya they deal with traffic congestion in congestion in the London are jokingly
the report siatos: "Nothing, hoa. Happened since our last report
London.
Hey were
The
were
e holding
"We do not underestimate the which has enticed us to change difficulties or the expense, but one, mind about the fravity of about 50,000 Chinese * this road would mabatantially, the rituation or about the nature | simüler number or Ind reduce the tramo in the Inner of the steps which must be taken concentrations campain. ares of London, and wouldʻtiras lab, deal with st.”:
it Kilegett
Monetary Bank Of England
Statement
Action Against Wool Tops Dumping Urged
The
Indications were, that all
the rubber at prosent being produced was finding
HIT a ready market, the report: added,
It says that factories which for como time past had been buying on a hand-to-mouth basla were probably, endeavour.. ing to build up 26 vertoiri amount
of stock since pro- Brussels, June 20. duction and consumption werd The President of the inter- now go nearly balanced, --- national Wool Federation, M. United Press, BALE André Foltzer, called for govern
BINGAPORE PRICES:
| mental), notices wgainst Urusnanyan dage Singaporo, June 20 Sher? London.“ June 20. dumping of wool tops in world The undertone of the fubber, ase to the Central Aromethene work ended Jane sard conference last weekbeutera closingar
Bank of England tstata» | markets. at the Federation's market on Saturday, waafrood. hile the
Callow NERVA KM). Polizer- urged delegatda, to No. 1 rubber, per lb.
actioni on
='rubber "par";10;2
would
include countri
after which he said
should