CALIA
NEV.
NEB.
N.MEX
ARK.
THE CHINA MAIL, MONDAY, SEPTEMBER 13, 1954.
AP Newslualures
1955 PRICE SUPPORT PROGRAMME FÖR BASIC FARM CROPS
[WHEAT (COMMERCIAL AREA) — 8215 TO 90% OF PARITY
CORN
¡DAIRY
{HON-COMMERCIAL) — 755 OF COMMERCIAL RATE
|{COMMERCIAL AREA) — 82% TO 90% OF PARITY İ(NON-COMMERCIAL) — 75% OF COMMERCIAL RATE
75 TO 90% OF PARITY
COTTON[825 TO 90% OF PARITY
Here's How
WOOL
UP TO 110% OF PARITY
TOBACCO '% OF PARITY UNDER CONTROLS| PEANUTS [821 TO 90% OF PARITY POTATOES 0 TO 90% OF PARITY RICE 82% TO 10% OF PARITY
Flexible
Price
Supports Work Out
Under The New Farm
Washington, Sept. 12,
By HERMAN R. ALLEN
AP Newsfeatures Writer
non
Law
1 noar
In the case of wheat and corn, Wheat and corn growers in the act. Secretary of Agriculture the nation is divided into con-commercial areas are eligible for Benson already has The object of most merced
reduced and
82% to 90 per cent commercial the
pay-dairy supports to 75 per cent, farm legislation in re-producing
Those areas, wheat for the ments.
in the non- first time. Non-commercial | commmeretul areas are eligible Potatoes-centre of cent years has been to
areas are those in which wheat for 75 per cent of whatever rate national scandal because of over- production a few years back, protect the farmer from or com are grown mostly for use is set in the commercial zones.
Corn, now subject to do the spur ir returned to price supe the perils of ups and as feed right on the firm, not
sale.
acreage allotments and market- ports at zero to 80 per cent of Every
state except the sixing quotes, is exempted from parity. New England States. Florida, the latter because of difficulty in Alabama, Mississippl, Louisiana, enforcing them. Much corn is Arizona and Nevada is in the used on the farm where grown, commercial wheat
On norf-basics: The
downs in market prices of certain crops de- signated by law as "basic" crops. By and large the farmer has benefitted from them, unlooked-for effect in the case of some commodities has been a huge pile-up of sur- pluses.
but an
Basically, the way farm price legislation works is this:
The former agrees to retain controls on how much he will produce for market of the basic crops-through acresge nilat- ments, marketing quotas or perhaps both. His production, within these lumits, is eligible for price supports.
11e gets his support price by "borrowing" from the Govern- ment the value of his crop, com- puted at support prices. He puts his crop up as "security," Later, if the market price goes below the support price, he can "for-
felt the crop and keep his sup port money. If the market price can "redeem" it and sell on the
goca over the support price he
market at the higher price.
90 Per Cent
commercial
corn
area.
area
covers
Dairy products-price supports 34 counties in 22 states, mostly continued at 78 to 30 per cent of parity as provided by 1949
In the North Central region.
SHE COINED A PHRASE
S
Wool--to encourage domestic production, the government is permitted for the next four years to support wool at 110 per cent of parity. The government now buys wool in the market to keep prices and production up.
"FEMINOLOGY'
Teach it in colleges
says
woman
professor
Indianapolis, Indiana, Sept. 12. University Professor Kate Mueller thinks courses in "feminology,"
colleges should have
taught by "women in Dior dresses, with seductive Voices and jaunty husbands."
Mra Mucker,
a psychologist possible, and when they are and Professor of Education, sold Bure they are right and not she coined the term "Temino-just nasty about it, then they logy" to mean "the study of can persuade men of their woman and her problems." She needs." has submitted idea to Indiana University,
a report on her
NO GRIM HATS
The idea
that men
are
Until 1040 support prices on most basic crops were set at 00 ef parity, a level per cent declared by law to be fair to fartners in relation to prices they must pay. From time to superior to women is ridiculous, time this resulted
in surpluses says Mrs Mueller,
and
and
which bulged warehouses
ment to store in eaves
The purpose of her "Temno granaries and forced the Govern, logy" course
educate woman
would be to on how to
Courses In "feminology" would
women's
emphasise history, attitudes towards them,
and salaries.
would
Greeks To Be Returned
Athens, Sept. 12. Czechoslovakia. will re- tarn 400 Greeks to their homeland on September 27, it was learned here today,
The 400 are Greeks who were taken earlier during Greece's civit
Kad
sent into Communist coun tries,
Meanwhile, talku be- tween Greece ánd Bul- rarian Red Cross organika. tions were under way for the return of "several thoumad" Greek children. -United Press.
Statement
TRADE AND COMMERCE SECTION
POSTWAR REVOLUTION
Blue Book Tells The
Story Of Britain's Recovery
From Our Own Correspondent
London, Sept. 11.
The National Income Blue Book is not recommended for light week-end reading. I consists of column after arid column of figures. But it tells a fascinating story of Britain's postwar social and economic revolution.
Not only is the nation as a whole earning, spending and saving more than ever; there has been, a marked change in the distribution of money available for these purposes. In other words,
United States NEW YORK Grain Forecast
Washington, Sept. 12. The Agriculture Depart ment forecast, à 8,973,841,- 000 bushel 1934 maise crop, up 149,000,000 bushels from Lart month's estimate,
The Prop Reporting Bourd also estimated that thila year's wheat crop will total 903,138,000 bushels,
bed of TT5,000,000
and 186,235,000 bus
bushels of
of winter wheat
spring-town wheat,
The winter wheat es- tható wis the
Jass month's when the crep was virtually all harvested. The spring wheat estimate compares with last month's 201,637,000 bushel fore- cant---Usited Press.
thanks to increased production there is a large HONGKONG
cake to share and though admittedly there are more to share it-most people are getting a bigger slice.
fewer
has
but because n
STOCK EXCHANGE
STOCK
MARKET
REVIEW
New York, Sept. 12. Stocks resumed their rise this past week after two weeks of decline.
Industrial shores led the advance with their average Fising 4.73 points. Railroads Armed, too, but they gained only * cents. Utilities were up 80 cents in their average,
Daily average volume in the four-day holi isy week foll off to 1,640,420 shares, amaliest since the week ended June 18.
At the week-end the brokers said the recent declino had cleared the atmosphere In the financial district and given В bit of incentive the market soon would generate activity on the upside,
HOLDING BTOCKS
The decline of the previous two works had knocked indus trials down 7.28 points and rails, 6.34 points. There has been no | serious liquidation, however, (From Our Correspondent) investors
and market men said the major..
Shoir were holding Business done on the Hong-buying on a small scale,
stocks, This week they resumed Day to day market news con- tained
balance of favourable items, most of them for In- dividual stocks, There was some
This does not mean-as it is ber in the £250 to £500 a often suggested--that the poor year group grew from 1,000,000 have been made better off in 1938. to 9,980,000 simply
In 1940. by "soaking the rich." Since then their number There are, it is true, relatively declined somewhat; not because people carning higher some people in this group incomes, but the "rich" nave allpped back not, as a class, been wiped out. larg
large number of them moved kong Stock Exchange The postwar revolution has up into higher groups. Thus the morning amounted to $179,182. been a much more subtle affair. number in the £500 to £750 Neon quotations and the Briefly what has happened is group rose from 2,130,000 in morning's transactions: that more wealth has become 1949 to 8,210,000 last year when AHARES BUYERS GELLERS BALES hesitation resulting from the available for distribution in the they accounted for nearly 34 form of personal incomes and quarter of all Incomes. nearly all of it has gone to those in lower earning brackets, At the same time more people are earning more than £5,000 a year and over than there were in 1938 and their total income even after tax is high=| er. But their relative share of the total incomes had shrunk considerably.
£6,000 GROUP
Other income groups have increased in size, the largest gain being in the £760 to C1,000 a year bracket which numbered 1,360,000 in 1958 against 300,000 in 1949.
SANKS
HIK Bank
Fast Asla... 198 INSURANCES
Union Underwriters
Dock
Chinese situation but market
1710 1720 25 4 1715 experts said this trouble pro-
duced little or no selling.
Instead the market community responded to the outlook for a
generol busines Gaina were forseen for steel, Automoblie, And construction Industries.
-900 910 7.60
KS, ETC.
Provident (0) 14 14.10 1500 14
480 (19.30 1000 14
Wheelock
This shift in the distribution in personal incomes has brought about a significant change in the relative size of the contributions |LAND, ETC. made by the different groups
HK Hotel to the national revenue in the
HK Land form of income tax,
TAXATION
In 1938, according to the Blue Book, 20,000 people came ed £5,000 a year and moró and they accounted for about one Afteenth
of the combined In 1938-more than half the incomes
allocated by Income groups before tax. By 1983, total tax paid on personal in- although their number
WOR had comes
contributed by risen to 51,000 their share of people earning £3,000 a year the combined Incomes hnd dr more. By 1953 their contrl- fallen to about one twenty-bution, though still high, had Afth.
fallen to a little over one third, Now it is the people earning £1,500 and
who make under the most important contribution tax collectors' coffers. to the Their share of the total has Increased from
one third 1988 to a half in 1953.
DA
Fenity
UTILITIES
Tram
Youmati
... 7.40 7.33 1000 so 7.40
Terms ****
C. Light 701
pickup
LESS THAN EXPECTED'
news khowed the
Business
I
10.40
11 500 10.00
inroads production
51
2.15
of the holiday
figures
but
IN
the
50 500 6 52% decline was less than had been.
expected, notably in the steel Industry
10.30 10.00 750 @ 2040
150 e 1815
140
10 15.30 200 18.30
C. Light_(N) 12.10 Electric XD.. Telephone
INDUSTRIALS
Cement
STONES, ETC.
Datry
Watson
COTTONS
32
$7.50
20.10
243534.300 18.10
3000 € 7
Textile Corps In
“At the other end of the scale, however, much bigger changes have taken place. Comparison with prewar is made dimcult by the fact that no figure is available for the number people earning less than £250 # year in 1938, But the measure Meanwhile, of course,
there of the change can be judged has been a bly increase in the from the fact that in 1088 total personni Incomes. These those in the category accounted, rose from £5048 million for well over half of the com- 1938 to 13,584 - million bined Incomes, in 1949 for be year. After income tax and fween one quarter and one fifth national insurance contributions and in 1953 for little over one had been paid the remainder eighth.
was available for spending More details are available for saving. Both have Increased other income groups. The num-appreciably over the past
Singapore Gold Price
Follows HK
years.
in
Jast
30'
few
In money terms expenditure on consumption goods and services Increased from £7,000 million In 1940
£11,070 million in 1953. Higher prices account for part of this rise, but there has been a consider able increase in consumption in real terms too.
Thus at prices revalued
the 1038 level total
to
Individual newn
Items for
various stocks ranging to a two-for-one
split
In Scott Paper helped various stocks and in türm sustained the
market,
diy
The best performers during the week wero in issues which not appear in the groups making up the
This averages.
reflecting a
soch
Jug
broadening of market interest
which for a long time centred on the bluest of the blue chips. 1000 ** uso —United Pross,
LONDON STOCK MARKET
CONSOLIDATION AFTER
EARLY BARGAINS
From Our Own Correspondent
London, Sept. 11. After Monday when the number of bargains expendi- marked was the highest since the beginning of ture on goods and services by 1947 the London stock markets settled down to a consumers rose £720 million between 1040 and 1983
toperiod of consolidation.
Singapore, Sept. 13. The price of gold in Singa- new peak of £8,887 million.. pore has responded to the rise And it is worth noting that in Hongkong and the other the biggest increases were international markets where the those
and of goods undertone for free gold has services that one associates been firm for the past weeks, with a high standard of living.
FOOD INCREASEB
off
groups
day
Monday's activity was largely loan Issue and this helped the in due to profit taking among the Company's shares which more speculative issues. This vanced 9d to 40s Od. continued on a somewhat smaller scale throughout Tues-
CAPITAL RAISING Friday also brought news of Informed sources attributed
and Wednesday when another big capital raising operators, who had bought this fiminess to technical сол-
at operation, siderations rather than any- Spending on food rose £393 the peak of the previous boom The Imperial Tobacco Com-
the revival of million
in stores shares found thing bigʻin
(at 1948 prices)
them- to
pany is to borrow £20 million hoarding demand. Reports of £2,484 million,
selves unable to arrange "carry by an issue of four per cent on furniture, their problems, opportunities, The Bank Of France markets as a result of incidents goods by £221 million
electrical over" facilities and ware come unsecured the International | radio, hardware and hoarding in
loan stock 1970-80 pelled to sell out. Stores shares at 20814. The money is needed to She doesn't think home life
Formosa and other inter- £380 million, and on clothing were
marked to pay off bank overdrafis in- consequently down if women spent suffer
national news have been de- by.
to
sharply though £150 million
there currod because of the high cost £891 were still some good scribed as "exaggerated.”. less time in the home.
million.
features of financing tobacco leaf stocks. "After all, husbands already
Paris, Sept. 12.
More was also spent (again in this section. In Singapore the price of gold on the basis of 1940 prices) on aboard anchored ships some of convince the rest of society
are doing a larger share of The Bank of France statement as risen from M$149 per tack things like books and magazines, | shares remained firm and oven in the week. A household chores, the commodities left with it by her need for equallly in the machine age
and the for the week ended Sept. 2, did
with reads as follows:- away light of changing social condi- many such chores. tlons. In 1949 e law was
passed providing for "flexible" support
The reason prices, but it ran into such op instructors would simply be to
that it, was not put make classes interesting. position into effect.
Lot French and chemistry be President Elsenhower's pro-aught by women with grim gramme called for flexible sup-¡ hats and fist heels," she said..
San Franelico, Sept. 12. ports, and in the main what this
Јарапе Government Mrs Mueller, who has just will pay its respects at the Mare year's farm bill does, is to put
finished a book called Educat- Island Navy Yard here in cero- Ing Women in Changing monies tomorrow honouring tha World, says that if women had Yard's 100th birthday.
growers.
the 1949 inw actually into effect for the 1955 erop year.
for "aluring Japs Visiting
The
Totol "old holding Total piher currencies Sight balance abroad
In EPU Advance to Currency
Stabilisation
Bank note
*
Trance
to M8156 in
months.
than
Meanwhile leading Industrial The funds were dull at first, bus became quietly firm later made some notable gains, The announcement Just be especially among aircraft issues fore the weekend that the East which went ahead on the open- Africa High Commission and Wa
Was
the past two private motoring and travel.
On the other hand less The same sources said Singo- spent on drink, tobacco 201.851.801 438 pore prices are more susceptible cinema-going-no doubt because h the Farnborough, air coming to the London market.
8,457,102,500
to price movements In Hong other more worthwhile things show. Rolls Royce advanced on for the second time this year-e 41,558,030,800 kong
the news that the Company this time to borrow E4 million else were becoming available after had developed an experimental by art issue of four per cont anywhere U.S. Naval Yard Total bil disounted 1.063.810,806,400 tremely small reasons for the ert in the national Blue Book
33.900.000.000 although the local market is ex-years of shortage.
But the main point of inter vertical take-off aircraft.
stock 1073-76 ut par-left the One of the tion
market unaffected. Good re NEW ACCOUNT 2,333,133,376,000
steadiness of gold in the focal are the figures for personal Current accounts and
sponses to the East Africa issue 129,303,009,833 | market is the trend among
savings. The deposits
These amounted to With the opening of the new forecast. “United Press.
populace
to purchase this £870 mil 48 millen in market generally
million In 1983
com-account, on Wednesday the In the foreign markot time of, the
took on - year)” (nearing | pared ·
Far Eastern Inder turned weak Christmas and the Chinese New 1940 and 259
for store shares, which were German: lamier, after their
fidence in the health of economy good des and small gaitis, pra metacular recovery on Friday. generally and in the stability of dominated. Good results an when under stimulus of prices in particular is the fact nounced by Monsanto Chemicals buying Potash movers per cent that of the increase in the total helped the market on Thursday Joan jumped £10.310% 10: €10
and
* with other "" favourable and air and a half) per oun Exchange Rates nos in 1952 well over gi
half was saved And in 1858 company news to add to mod row 25 10 10 £18- all but £10 million of the £74 cheat prices sentral recovered down in the gold share market. generally remálzed BICZ WABA week of ups? and lol riven fit laxation rollet went
steady and The one may have On Friday, however stores became distinctly" Brigny,
somo-of-their previous lommenes Oliveraselton RATES DA However trial11, **71) born, ut one "the" that old con
You and the propitious time | the postwar :“low” “In 1948– ) brighter appearance, and, except on. Rise news, from: Formóns,” But", Here is how the low affects the same experience and oppor-. The formal four-day coloura The Bank Of England for Chinese-weddings)-United Evidence of the greater con- still weak, most scellons had earlier dullfoss made
ion of the founding of Mare
the "basic" crops and a few unity as men, they would be others brought "under "ita | equal to all intents and pur Island will begin on Thursday COVETAŽE:
For ave of the basics-wheat,
Woman's greatest limitation is corn, motion, rice and peanuta igaltitude of men towards the support price is to be 82% - her?
to 90 per cent of parity fri 1985.
but tomorrow's presentation of a commemorativă stroll will recall
the first visit of a Japanese war- ship to the United St
The vessel, the Kan
A
was escort to the Usi
The best, example is when which comiód Ahe
A with baile, tobacco, is to be en sille talle about woman's Ambassade to -supported at fiil so per cond or Fleck being in the home," she, fnO LETRAS ANG
pacity if produceră Vots produes, Reclared
other win in bot Van Lear Wandes, should make their Arkan: valorreto
Statement.
London, Sept. 13," -The Bank of“ England ståld-: ment for tho, wwecktärended Maru, | September 8, reads as follower.
·Priss,
A CAMİ ohnevitably site infaidh
stems to have lões fia validity.
laz
agala sumos-weak) "while gjini Sören the palomba TERUS DOC new of the day was the huge | Prleansy and rubbers) Kidcess, of Vickers, 20 million,