IP
R.A.N.'s Grand Old Lady Bound For Ship-Wreckers
Bombs,
Shells, And Suicide Planes Could Not
Sink HMAS Australia
The Royal Australian Navy's grand old lady, HMAS
Australia, is bound for the scrap heap.
The Brisbane Courier-Mail Naval Correspondent writes the following tribute to the 26-year-old vessel.
Enemy bombs, shells, and suicide planes could not do: destroy her.
rusti She 14
County's BALL battle scurred 4 1 best-loved ship. There is to stentlern stream-
little that Uning, perhaps handsome, about the old three- funneller.
is
In the Coral Sea Botte, temm May 4 to D, 1942, Rear-Adinand
How 2.1. Crore
Jeud HMAS Australig Allied force covering the western south rection of the Coral Sen
1ts
h
17
113
of New Guinea
of Aus- She is the symbol
to Allied trulla contribution victory on all the world's organis
With her passing, there it be something not quite the same about our Navy to many of the old hands, because she's been around a long, and su many men have died heroes' deaths on her decks.
And with
her
We
pussing our havy will enter on a new phase
Cruisers In] We will have comunission.
almost tainly will acquire no more, because the destroyers of today and tomorrow will do the work of the cruisers of yesterday.
CAPETOWN TO
H
NORWAY
story
MAS Australia's war
opened just before World Wor began. When the gong In September, 1939, sounded she was patrolling off our own roast; but in the next 12 months she had ranged as far field as Capetown and Sierra Leone, up to Nurway, und back to North Africa,
In the
dark
the days of French Armistice she strengthen- ed the Royal Navy's patrol off Dekar to prevent the movement of Vichy-French ships.
Bghter Without
protecton emerged without these lips durge and within Las of per- snel, from a series of attacks toy eight Japanese Torpedo bumbers and 19 heavy bombers Three enemy aircraft were shot down.
The main series of Atelierte which made up the vital Com Sea Baltic-turning point of the war for the Australian mainland w
fought south of the --were
United States naval Solomons forces lost one aircraft carrier,
but a destroyer, and a tanker, Jepan's loses totalled 15 ships, including an aircraft carrier and three henvy cruisers,
HEAVIEST FIGHTING LAY AHEAD
Ship-wreckers will
and
later Jack decks
action three montha
(January, 1945).
were And superstructure blazed
Ave ton) sartelde-plane attacks; she had casualties (44 killed. 69 wounded), Bul her Utina were not silenced
A LAST 26-KNOT
FLING
Aus- 】OCKYARD skill sent
tralia buck to sea again, bul net in iim: for further action.
Marle visulete by the progress of naval selence, and by her own years, she had a quiet life after the war. pottering about Coastal waters as a training ship
for "rookies."
Announcement, six months ngo, that she was to be broken up in June, sealed her fate, and, for most people, made her mental wrile-oft 18 so much junk.
THE CHINA MAIL, MONDAY, JULY 5, 1954.
But, as recently as last week. the old indy shook off her years for one last job in the Navy's service.
WE offensive had been wrested from the enemy, but HMAS fghting, heaviest Australia's
heaviest losses. still lay ahead.
and
TRADE and d COMMERCE SECTION
British Treasury's
Major Victory
CHANGES IN THE
EPU MECHANISM
From Our Own Correspondent
London, July 3.
Changes in the mechanism of the European Payments Union, which came into effect on July 1 at the outset of the Union's fourth and probably final year, are seen by commentators here as major victory for the British Treasury,
A
Certainly British representatives on the Organisation for the Economic Co-operation have won their point that the EPU should not be "hardened" as some of the chief creditor countries in the system wished.
Was
Bul economic diplomacy in as a result of the automatic this Instance
anded by settlement rule. For if monthly "shock tretics" which made the defeits and surpluses are settled British case wellnigh irresistibit. on a 50 per cent gold, 50 per For once the British Govern- cent credit basis the Union's re- ment had offered immediate re- ceipts and payments of gold payment in gold of a substantiat rach month will balance.
And part of its accumulated deb! to this will enable the Union to the Union the other deblur continue with a relatively small countries could hardly help bui working capita), make a similar offer. And this automatically removed creditor countries' ehief objection to giv- Ing further credit,
Proposals which have alrendy been accepted by member coun- tries are based on voluntary ar- rangements-now almost com pleted for repayment for part of debts outstanding to the Union. On April 30 these totul- led $1,133 millions of which the United Kingdom's share which also reflects the sterling area's payments position with West erit Europe amounted to $505 millions. The total credit ex- tended by the Union was $1,38)
millions of which the largest single share, $508 millions, was extended by West Germany, BI-LATERAL NEGOTIATIONS
The United Kingdom had or ranged through bl-lateral nego- tiations with creditor countries to deal with $426 millions of this As a result accumulated debi $106.8 millions were repaid on July 1-and this will be reflected in the sterling areas gold and dollar position at the end of this month. The balance
repaid by ammual will bo
in- stalments of
course
of $46 millions. The biggest single alice
DEMISE OF UNION
Rubber Plant for West Germany
Baden, July 4. Weal German rubber manufacturern suggested last night that a special
Com-
fond be established Lo finatioc immediate struction of a rubber plant,
A mokesman for tho German Rubber Prodgears Association told a Trea conference that
rubber musi be produced to satisfy West Germany's necita.
To boost synthetic cut- pul, an additional invest- ment of between 130,000,- 000 and 104,000,000 Deutschmatka is nocronaPY, he wald-United Press.
LONDON STOCK MARKET
Washington Talks & Higher Production Reasons For Rise
From Our Own Correspondent
London, July 3.
near
It would be difficult to find precise reasons for the continued rise of London stock prices last week. The favourable outcome of Sir Winston Churchill's talks with Mr Eisenhower and record level of production in May had something But undoubtedly the main reason to do with it. for the rise is that investors are still riding the crest of the wave of confidence in Britain's economic future.
Last week this confidence lifted industrial
HONGKONG share prices to a new all-time peak and the trend
STOCK EXCHANGE
(From Our Correspondent)
was still firmly upward when the market closed for the weekend.
But for a sharp' fall in Paton and Baldwin shares on Wednes- day as investors registered dis- appointment with company's sharply reduced pro- #its the Financial Times Indus- trial shure index would havu Business Da the Hongkong riten everyday. As it was it Steak Exchange this morning reached new penk of 150.1 on Atnounted 40 $101,085. Noon Thursday, after closing the pre- quolation 3 and the morning's vious week at 154.5. dealings:
BANKS
HK Bank
East Anta
the knitting NEW YORK
STOCK
MARKET
Du
New York, July 4.
Pont,
1
the nation's
Features of the market wyre It is possible, however, that SHARES DUYERS SELLERS SALES the steady rise of tobacco shares the EPU will not complete a full
after their recent heavy tumble year in its present reconstituted
1001 $700 20 1600 on the reports of the adverse Before the end form.
of next
effect on health of cigarette leading chemical company, June the major European cur-
smoking; and now record prices soared to a new rencies may have taken a „con-
high this altained by Beveral
leading week and led the Industrial vertibility plunge and
molor shares. would mean the demise of the Union,
this
The Council of the Organisa- tion for European Economic Co- operation have recognised this and made provision accordingly The condition on which the Union was renewed last year is aoy member repeated that country may ask to have its obligations reconsidered during the life of the Union if, in Ita Lo opinion this is necessary enable progress to be made to- words à system of freer trade and payments and in particular convertibility of currencies."
INSURANCES
Valon
Landberd Underwriter
170
855
00
02
3000012
32
1.20 733
F.
10% 58%
1.40
18.30
2.02 2.10
10 million
average to a new top since October 17, 1929.
DOCKS, ETC.
STEWARTS & LLOYDS K. What! Dock
Ulitics set a new high site Provident (Oj
On Thursday the market was
Aug. 11, 1991. Rails alone of Wheelock
further helped by the news that JK Bolel
the major
closer! troups
the Stewarts and Lloyd's shares had Ik Land
with a loss mere 89 Bhal Kand
reached a premium. When the work Humphreys
cents. authorities offered the publle Really
do- shares in the
Trading averaged the nationalised steel company UTILITIES
Tram
27.30 27.60 2007 37.00 rapense was disappointing. Ex shares daily.
Industrial shares gained 5.13 600 6 271 ctuding a firm application for 10 10.30
utilities Light (0) Light (N) 12.10 120 1000 13.30 the whole amount from under-poms cand
1000 or 12.10 writers the public applied for écrits. Freire 2012 20 146 or 30% only five and a half million On Monday, Du Pont, scared 18 points and thereby added Not surprisingly, there $704,041,441 to the valuation of
Telephone Yaumati
INDUSTRIALS
Cament
145 147
...
2334
Dairy Lane Crawford
XD
COTTONS
Textile Corp. MISCELLANEOUS
Yonglaze
Indeed it was with the know- ledge of the fast approaching STORES, ETC. convertibility in mind that the Managing Board drafted its pro- posals. For the EPU is essen- ially an organisation to facili- fate trade between its members by troning out shor!
term of balance of payments dificulties, and as such has been made the of OEEC's trade liberalisation code.
Britain's immediate gold pay-chief instrument crippled
ment $35 millions went to West Germany
From a quiet training cruise along the Barrier Reef, she Jumped to a 26-knot dash to the ul# ઇ ધ
Dutch August brought the Altedonding craft. recapture uf vital Solomons strongpoints, with Australia heading the screening force at old Guadalcanal.
Her sister-ship Canberra was sunk, with heavy loss of life, on the night of August 9, off Tulogi; On that job, on September 25, but Australia lived on, to com- destined 10 Tog-book Arst pleten 1940.
she suffered damage by enemy action a read like a pin-point history of
Dam- the Pacific war. sheil through the galley. nge was superficial, and there
were
מח
her
no casualties on board; the clay same the but cruiser's Walrus aircraft was shot down, with the loss of its personnel.
Men who had served in the three-funneller chuckled BU]} when they rend that sho could squeeze out 20 knots-and they grinned at the thoughts of comments on the mess decks.
They found it hard to realize that the 26-year-old veteran, bombed, shelled, and blasted as few ships had ever been, could have been just one move
from the ship- away breakers when the made her 450-mile mercy dash.
no
the cruiter Austrollo,
To
For
shares.
fore, the shares opened at *
2,053,360
gained 44
its 45,454,287 shares outstand- 19 101 od 19.21 discount, but on Thursday a
PERSONA for the rise smoll
estab-ing. The premiten was Nabed.
was a mystery when it occurred. 24.90 100 6 24.70
Later 11 developed the reason 500 G 241⁄2
The week's most spectacular was a bear squeeze,
That bear squeezing got to be rise was in Rio Tinto copper shares which gained 20.10s to a regular sport later In the £33 on the news that Spanish week and some stocks soared interests were negotiating for widely as the poor bruins were majority caught in the pincess of tho the acquisition of a Interest in the
con- Du Pont subsquently fell 9
6.30 44
Iberian assets.
Omompany's buyer.
New York Cottonmation of this was given by polnis from its high and later
Market
00
cotton
textiles
no
reference in the week rose again. Its net the company but was made in their statement to gain for the week amounted to The possibility of a capital re- 11 % points, the outstanding
rine turn on which investors
the week. General Motors, of which Du shares, Pont holds 20,000,000
pinning their hopes.
of
GILT EDGED
this
OTC
At the samo time I was ar-
LOSS OF GROUND ranged that the Unlon should
of its debts repay a part
to
the scrap
Union now creditors out of its own con- would, therefore, have meant vertible essels
New York, July 4. on: $130 mil- the loss of much of the ground
Bolcs weaker Small Hons have been applied to this already
quantity gained.
also was C strong spot. It purpose. Germany again Kol
cotton print members would almost certain- Japanese-made
netted 4 points on the week. the largest share-370 millions, ly have attempted to compén- cloths at below domestic prices After early plling of long-
Oll shores were hard hit for including a special payment of sate for the loss of the Union's enlivened otherwise slow datid and
undated British $30 millions made in view of automatic credit facilities by trade in
the gilt on their top heavy in- Government securities
came ventory situation. They their trade the very large credits granted restricting
with week
took on a edged market
sharply from the
lows. The by Germany."
other
Most weavers members thus delaying
and spinners brighter look at mid-week and lenders closed the week barely convertibility of stronger cur- hecame holiday-minded before dated stocks went ahead with changed. Stacie rose when She was with the covering
INGENIOUS FORMULA
rencies. At all costs this had to the National Independence Day interest broadening to Dominion forces
was obtained in the in- peace at Arawe and Сара
be ayolded and the Managing licilday on Monday, and com- and colonial issues.
dustry with a new ot Gloucester in New Britain:
wage con- But this is unly part of an Board has done a good job in mencement of the mill vacation
US Steel was up a point Hollandia, Wakde, 1łok, and
ingenious formula worked out
The feature of the oil maritet tract. Morotai In
on the week. For New Gulnen; at
by the Union's Managing Board working out a formule which and inventory taking period in
In satisfying the frat two weeks of July. was the rise of the Anglo-
From time to time the market Leyte and Lingayen in the there could be по reprieve, to make the system acceptable goes a long way
to a fresh peak of WGS But
everyone for at least another
Looking ahead some observers Iranians
the ship-breakers could to its creditors for
netted by action of a further Philippines.
year.
felt that with the end of the €13.3.1% on the hopes destroy the memory of a gallant | year. ship which had run her course New erodit facilities bave But the problem of preventing vacation period the market la sausfactory outcome to the Per-Senate and fought the good night.
been opened for those debtor a serious contraction of intra apt to meet a good call from all sian talks. The shares finished technical tax bill. It was partl of consumers, parti- at 4s 44d up on the week at cularly worried over action in countries who have arranged bi-European trade once currencies classes
the
eliminating most of the relief on lateral deals for repayment of are made convertible has been ularly
operating 213.1.10%. group
double tax dividends. But it Attention vill be with slender inventorien for part of their accumulated debts solved.
The rest of the market turned finally overcame this hurdle on this when European some time. and creditors who have agreed drawn to
bollet that investment to grant further credits. The finance ministers meet in Lon-
The more determined stand dull after a fairly strong start. I the
the best
grade Rubbers improved on a higher demand for amount of now credit granted to don later this month.
among the mills in refusing to debtor countries his bron fixed
Accept business at losing prices commodity price, United Bus issued would continue.
4x 6d to 259. advancing has evidently made an impres Betong stures were firm until day of the month
Even with the drop on the last the market Some Copper
they became closed higher for June, round- quarters feel that there is a Thursday when
ing out the sixth successive "rather substantial quantity" of quiet. Teas were irregular.
monthly rise DO Interest in the Kaffe market
for this year. unplaced business judging from iho number of bids Being was mainly
the market at the end of the concentrated
month was 27 per cent higher OF's shares. received.
than it was at the close last Sept. 14 when the list made new
Back in the Battle of the Atiantle, Australia became the
Leyte marked the first con- idol of the RAF Coastal Com-
1190 of kamikaze mand, when a dozen or so of centrated
(suicide) planes by the Japan- her crew led by the Com
(Captain J. sc. For all the Allied ships il manding Officer
the meant a new level of the grim Armstrong) went over aide on a line, to rescue nine and macabre in warfare. of a ditched Sunderland fly- Ing boat's crew from 20ft
waves.
Ack-ack
to
were gunners learn that the fact of lining up a kamikaze in the sights meant Just nothing.
"Just one of those things,"
and his men Manned by Japs pledged to Armstrong reckoned. But after five years die on their target, the suicide coming. kept on more of war, when the patched planes just
reachednover deviating from their and strained cruisera Plymouth for repairs after the course. maulings of the Pacile cam- paign, a squadron of Sunder-
salute to lands flew in
memory of a good show.
A SAGA OF THE
PACIFIC
the
TARGET FOR SUICIDE. PLANES
TOR the Australian flagship, the second day of the Leyte landings "meant a death roll of TEXT year brought Australia 30, and 01 wounded. The dead NEXT
UTILISING
ATOMIC
POWER
London, July 4,
A Soviet physicist said in a Radio Moscow broadcast today: "Atomic power is most easily released during a very brief moment as, for instance, during atomic explosion of an
į
the
bomb."
"Ose must add that such
..
in proportion to the amount of debt they have dealt with bi- laterally, but Italy has been given special consideration to enable her to continue her liberal import policy.
south of the equator again, included the Commanding eux), process can be utilised not only gold and 50 per cant grodit, in- |
Officer
fn-
and the Atlantic Battle was left (Captain E. F. VI
Those seriously wounded for destruction but for creative behind. But before 1841 closed cluded the Commodore
he whole outlook for the world manding the Australian Squad purposes as well as, for instance, construction of canals had been changed by
Sir in the
and rollways," sald the physicist, entry into the war, and the
whose name was given as Dal- threat, of invasion faced country for the first history.
Japan's
bur
(now Vice-Admiral ron John Collins).
time
14
QUOTA INCREASE
To give effect to this change without reducing the amount of to member available
Singapore Rubberson
Market
on
THAI MARKET
430
ilons.
consumers.
the
мор
of a
on
on items in the new
Argentine Trade low for a long time-United
about
Man
"
Mission
Pris.
TRADE SLUMP
These arrangements have a
Singapore, July 4. number of technical advantages
The price of rubber closed Yarn spinners reported a sur- over the existing system, but the last week at the highest point prisingly good demand as they would "almost certainly be Managing Board recognised that since May of last year.
market went over to the holiday inequitable in their application
First grade rubber for July period. Business continued at a
the to different members and would inopore market at 70% cents to the extent
closed allpment
steady paco Instead of falling off expected before be extremely difficult to apply.
One seller booked It has therefore been decided A pound,
Bonn, July 4. that from July all monthly At one stage of trading the heavily for Aug-Sept, but re
An Argentino trade mission
Darjeeling, July 6. tomorrow deficits and surpluses will be price reached 74 cents on a firm fused to accept orders beyond
will drive in. Bonn
Tradio with India has slumped, that date at current prices. settled on a base of 60 per cent but irregular market.
Largely responsible for the
In rayon grey goods, business to negotiate with German, go since the Chinese occupied Tibet,
representatives the merchants here reported.
of the economia
The Indian frontier town of plicated sliding scale,
increase in the United States during the traditionally weakesi exact terms reached by the
Kalimpong, onca
thriving stead of as previously on a com- sharp rise was the news of the was slow but prices held firm ernment
price of Butyl synthetic rubber penson of the year.
Millmen agreements
Foreign
Minister, Argentine by one US cont--United Prose, felt that the only way. Jeronimo Hemorino,, and the centre of the wool trade, is now
Rimbat starchsüll. since market can go is upward,
Minister, Alfredo Eboriomies
bellevo the slump is Traders Gomez Morales, with the Gerce to currency restrictions in mbil curtallmenta have Bangkok, July 4. balanced production with
Economics chief, Ludwig Tibet, where bank drafts aro Hailing last ・Week's Soviot credit
Erhard, In May, in Bangkok mand, United Fress. countries within their quotas Rubber prices
made out more eually in favour ship claim the atomia electric has been decided to increase all jumped 30 baht (11⁄2 US conta)
"Tho official purpose of the of Chinese than Indian banke. How per kilogram for all grades m in the Soviet Union, Balbanov
The Managing Board points the close of last work. ----
visit is to renew the German It also understood that the spid, "We are proud of the fact out that Lats, new system of spl sharper Else was reported Bank Of England Argentino trade agreement, new overland route to
which expires at the end of the through Chhamdo Haw drawn oft our country Soviet fling monthly deficits will im- from molh Thalind where the air forces in the Pacific: Months
Blazing petrol showered over that in
month. When the Argentine much of the tendo towneds of heartbreaking withdrawals, of
the bridge, the compass plate pintlets have created the first pose a few aditional burdens on ur
price Increased. three cents por
Ministers visited Bonn in Mar; China-Reuter. ferrying and escorting men and
form, · and the
forward Industrial power, station in the deblæresuntries, Trub, BETA B through
world using atomio materials
might coat them more, gold in The
They announced the new gree enemym gün-turrol.
price rise in sald the early stores of the them to be the market -~ rekation, of dominated waters unul the Allied strength, had been built Most of the casualties
"The most effective process yatim, but I will cost them the tudo-Chins wat and Intensis
Fit the same or less sold 11 they.conals of at thousand tons of up to turn the fide.
among men burnt in the ball or for pedeerut purpose" fume which enveloped the controlled chain reaction which time to run dasdite pri
rubber to Red Chlam More often than not, the bridge. But damage control takes place slowly.
|siderable :icate,
10,000-ton,
Anch
crutier,
parties beat of built in Britain Bacic in, the whiles =\'hall of shell held on eligen 2920's, Linda on the spot in the remni, alturaft attack kakakaón muerto_will “A tiona which pushed the energ slowly back towards Takyo,
Through the fear-charged
Several of a group of attack-banov. ing aircraft wore shot. down before they reached the
Kamikaze dived into the
munthy of 1942 the story of the But the darnage okmo when power station had been opested | quotas by 20 per cent.
eruiser Australia is the story of
the Allied navies, armies, and mast, and exploded.
-0.101
WOTD
So Australia" lived to, fight : sén
rbanidad":f
on the Union's convertibl
Statement
zagter Lórkón)-Juig. 4/ The Bank of England sibie
for the week ended June follows: AN
China
ment would open a new Exchange Rates German Argentine, trade, MA M
Bins Wost Chicmany hai agreed to grant long-tam vitt)
nations will," stan