THE CHINA MAIL, FRIDAY, SEPTEMBER
1954.
The
Nhino Gets To Work
The latest development in the wheel is incorporated in the new "Humbling Rhino", ballt The Ave-ton "Rhino" charges like by the MarmonHerrington Company of Indianapolis, USA. no other vehicle through thick river bottom ooze, rolling without strain. Its water-tight body combined with the driving force of the Hemispheroidai wheels permits enzy Dassaro over such It is terrain, or through awamps, sand or on highways, where it can travel at 45 m.p.h. powered by a 110 hp Ford engine. When the Rhino enters deep water the driver shifts to a Hydrojet unit for propulsion and steering. It is anticipated that the "Rhino" will replace all
existing military and civil vehicles in the Tank and Traller division.
- Express Photo,
Greek
Police Smash Communist Cells In National Roundup
Athens, Sept. 23.
In a nationwide roundup, described by Field Marshal Alexander Papagos, Greece's Prime Minister, as the "biggest anti-Communist victory since the end of guerilla warfare in 1949," the Greek police have once more thwarted attempts to create an underground Communist party in this country.
Eighty-eight Communists, including 19 women, who constituted the illegal party machinery in Athena, Piraeus, Patras, Salonica and Thessaly have been arrested during the last six months by the Greek police.
Many of them were "mall fry," induced by tiny allowances to collaborate, in the Communist underground movement, but they also included six Moscow.l trained top-ranking Communist leaders whose capture the police consider as, a really big "catch". '.
carel
HONGKONG STOCK EXCHANGE
Cements Take
The Limelight
By A Special Correspondent
The rise in Green Island Cements was perhaps the most exciting feature in an otherwise quiet but very steady market this week.
They fell slightly yesterday from their high of $29.80 and, incidentally, their highest point for many years but brokers expect better things of them in the near future.
As far as I know the reason) easy at the moment but there is for the rise is based on these no great demand for shares and reports:
there are certainly no anxious | sellers.
that there la: to be a now
or bonus issue soon; that the
GAS COMPANY NEWS - company's earn- Inge for the first Boven
Providents show a small rise on the week—up: 50 centa months were excellent;
to that they are selling all the $14.80 on the news that a good cement they can turn out; offer has been made for a West that with the building of Point property of theirs. There
the Tai Lam Chung dam is still some optimism
about and the new Kal Tak alr-Hotels-enough to keep. strip their prospects seem shares at a buoyant $10.50 to
$10.00. assured for some time.
Cements have now risen 53.40 in a fortnight and almost $2 in the last week,
the
Dalry Farms have done rather well on the week. Last Thursday they sold at $25. The next day they went ex dividend but Yaumatis moved up this week carller this week they almost from $151 to $161 befaro made up for it by touching casing back to $157 buyers | $24.80. Yesterday they were yesterday. nouncement is due very shortly
Their dividend on-led showed a rise of from
now. The new or bonus issue $4.05 buyers to $4.225 mie on announcement may not be made the week. I heard yesterday at the some time but the market that negotiations between the knows it is Inevitable and syndicate and the Hongkong they're not awfully worried by Gas Company have been com- the news that it may be delayed picted in Lotidon and there has a couple of months.
on the terms been agreement
The interest in the market this week has chiefly centred Around those shares with news of better earnings, pending dividends, new issues or land sales. Otherwise the market hus been dormant. Turnovers were moderate this week. The money position is reported to be fairly
of the sale of the shares. Share- holders here should be receiving a circular about the proposala shortly. in London, the Gas shares have been
up to 40/- recently..
Chicago Grain from
Prices
RUBBERS LIVELY
COMMERCE SECTION
Engineering Firms National City Bank
Lose. Half Export Trade
London, Sept. 23, British engineering firms have long half their export trade compared with the. Immediate post-war- boom yean, seognting to Mr A. Don Jenkins, director of the West Riding_group_of Engineering and
Allled 'Employers" Federations, ・-
He said today, after a tour of the area, there was
· little · prospect 'óf lost mar-“ kets being recaptured,
Overseas trado variéd from 80 per cont of factory' output to slightly less than 30 per cent. ・・
Ho
the South American marketi were virtually closed because of shortage of sterling. "The difficulties of compet- ing in the Canadian and North American markets need not be emphasised." he said.
Reviews Convertibility
From An Economic Correspondent
London, Sept. 23,
One thousand million dollars-a third of the International Monetary Fund's gold and dollar resources—is the amount that it is suggested the Fund may make available to tht United Kingdom to support a convertible pound.
"This would not be an excessive allocation,' says the current issue of the National City Bank of New York's monthly review, "considering the key importance of sterling convertibility to world trade and finance and the need to reserve lines of credit for other countries wishing to undertake convertibility."
A second means of strength- | payments is one of two
basic developments that.
steps to by Wost
"A for Europe, Ger
ening UK and other European reconomic France and Italy. meny,
serves, it says, Hes in the power have made possible of the Federal Reserve System wards convertibility
are now entering the com- petitive market in greater volume and under more favourable trading condi- ilons than our own mINTER- facturers. -- China Special.
NEW YORK
STOCK
MARKET
to enter into line of credit European countries. arrangements with foreign central banks.
This " was the course preferred by the Randall Commission to the, more direct method of Araning formal
loans.
1
large resources
at hand"
that
MODERATION
The other, says the review, "is the moderation of the much- ndvertised and widely-feared American recession."
World Cotton Markets
"The advantage of having United States imports, It says, the appear to be holding the 10,500 review continues, is that they million dollars a year lovel dispel doubl that enough Bellved in eneli one of the dollars will be nvalinble to previats four years. For from maintain convertibility. The rebeting in the slow-up in the plnin fact is that a currency is US, European bushes this year more valuable and desirable Ir boomlig and lending strength when t
prices of inter- Is convertible than not only to when is not. The general nationally -traded commodities experience is that people do not but also to the US export trade, hasten to com
convert when they which has improved on com New York, Sept. 28.
know that a sound basis has mereint secount while declining Prices on the New York been laid and that adequate on military account. Stock Exchange continued resources are at hand to main- the privilege of convet- to Burge, moving industrini taln shares to further new high lon." Amalgamated Rubber was a ground in more than 25 MUCH SOUND PROGRESS more lively issue this week years. Trading was moder- when the shares
The review points out rose to cents on the strength of reports
ately active.
much sound progress has been Singapore that TOW
High-price oil equities and made towards the goal of con material prices were up.
bed specialties led the upsurge with vertibility. Sterling aren gold Banks
and Unions have been gains ranging to more than 2 and dollar reserves have risen
New York, Sept. 23. very firm this week. I hear points, Generally Improve 1,300 million dollars above the Cotton traders again found the from brokers...that. Bank scrip, mants were limited mostly, to critical lows of 1849 and carly line of least resistance on the
hard to get at the the fractional zone.
1952 to 3,000 million dollars, upside. The rise moved industrial The res
reserves of
Continental
In mozo active dealings, has been a slight rise shares to their best levels since Western Europe have risen since gains of around $1 a bale uned
million cents in Realties but Sept. 21, 1929. The advance 1951 by nearly 3,000
current crop deliveries to otherwise Land issues have been in rails, as measured by the dollars, the largest gains being new
new seasonal highs. steady.
Persistent domestic mill, ex- average, was the widest since shown by West Germany, the Netherlands, Austria, Italy and
and commission house porter and 'whether recently
the
A number of high favourable Switzerland.
buying found sollers rezerves. Wheelock's dividend will be an- corporate developments bolster-
Progress towards a sounder The light contract supply cauted nounced any earlier this year, ed the market today. General will be Motors met demand on news
International surprise among traders who had pattern in their The company expect
counted on heavier hedge selling the usual time-looking back at that it had received a $35,000,-
A
In the
of heavy spot wake market sales and the pports over the last ve 000
the rapid rate with the ex-000 gun order from the Army. Years, Joe
of new crop ginning. shares. turned strong ON 142-days ception of 1932, an "average" Oll
Liverpool brokers also wero
buyers.ated
The British active
around purchases,
10,000 boles, centred chiefly In the December delivery among buying in the thể
· As-
Chicago, Sept. 23. Prices per bushel in cents:
Closing Pripes Wheat, No. 2, red
2131⁄2n' 4(L)
2153-34 2171 2144-Ti 2011%
Spot
Dec. 281)
Mar.
wis
others,
of the Communist Party Polit-execution squad bureau in Greece."
forw months later. the Florakis, who during World police caught up with the 52- Major-General | year-old fübercular party boss, War I was a
partisans, Nicholaos Plumbides, who had managed, after the Communist { evaded capture, for
10 Over guerilla war in 1949, to escape years. aerom the border into a neigh-
A
Most important of all
of these efforta Beloyannis, who
The to the last the
34-year-old day of his trial upheld Com-was,
words of Field orrest of Charilaos Florakis, alias Cape-munist axioms while smilingly Marshal Papagos, "the Com Ian Yiotis, who is described by { smelling a red carnation,
and plete disintegration of the the police as "Chief of echelon two
died before ao underground organimtions which the Communists had Succeeded
in setting
up And the discovery of the intelligence network of international and Greek Communism: which operated against Grecce, her Balkan allies and her North Atlantic Treaty allies."
result In the
May
July
Corn, No. 2. fellow
Spot
16035
Dee.
2015-16
Mar.
May
July
Rye
Dec.
Mar.
Oat
Dec. Mar.
Soybeans, No. 2; yellow-
Spot
Nov.
7817
2074 77034-35
bouring Iron Curtain country.
During
Jan.
of
Commun.st
Before being sent to Greece party
to reorganise the illegal
After
being sentenced
their investigations, Mar the police discovered, In May July numerous hideouts such as base.
ments, cellars; specially bulit
machinery, he received a year's special training at the Military
to underground crypts and derelict Political Academy in Moscow. death on two counts on charges ruins, secret printing presses,
of espionage on behalf of a ronco machines, radio
sets, The
other five top-ranking foreign power, Plumbides was double deck suit-cases, large Communists arrested had executed in August. As he faced sums of money in foreign cur- ceived trmining in Espionnge the firing squad, he shouted: rency and other special equip-, and underground work at Long Live the Communist Party | ment useful to spies. similar schools in Poland
Czechoslovakia.
included, in
Their
level Indoctrination in munist
re-
and of Greece."
•
་
140-150
Barley,
Spot
New York flour
200 3b, pack
$24.400
-United Press. WINNIPEG GRAIN PRICES
Winnipeg, Sept. 28.
af
Ave
A
bepple have been August
24.
date would be about mid-news of a 100 per cent stock the meeting dividend proposal by Standard November with
(Indiana). Company carly in December.
TODAY'S SHARE PRICES
에
Private forecast of sharp plck-. up in business this autumn also helped the market.
BALES
Sales today totalled 2,340,000 shares, compared with 2,200,000 shares yesterday.
In the volatile of section, Standard Oil (Ind.) closed with again of 54 points to $334, Monterey Off spurted 4 points
$373% on
rumours that the
to
well
World Rubber
Markets
Singapore, Sepi, 23.**
with with some March-May contracts, sumption was that the foreign' The market opened steady on demand was for the undoing of Later in stradale positions and open overseas acceptances. the day prices tended to sag, R little.
Future closings were:
Oct. Nov.
No. 1 rubber per lb. 701%-70%
Dec.
Prices In Canadian conts pe From Our Correspondent) company was testing out a new No. 3. rubber per ib.
MAY
course
Party archives scized in bushel: According to police estimates, crypts led to the arrest of more Dats addition to high
20,000 gold sovereigns members and financial colla- October Com somt Ideas, th
on and many thousands of dollars borators. instruction
December into the
May how to set up and use wireless have been imported
Secret codes used for trans- Rye 1950 to finance sele efphering, secret ways of country since
mission of information by wirë- | Detober writing, micro-photography the the Baloyannis spy ring.
less to party art of disguising, printing,
leaders abroad, December In spite of the death toll have been handed over to spe- Barley sabotage and all that was rewamong its top leaders and the clal Army intelligence units for October quired to turn them into
enormous expenditure involved, deciphering. fledged secret agents,
the Greek Communist party leadetship, which is reported lo have its headquarters in Bucharest, capital of neigh- bouring Rumania, has continued to infiltrata Communist agents into the country in an all-out elfort to build up the party machinery again. ··
Kully
They were then taken to Bul- garla and, escorted by Bulgarien army officers, they arrived at the Greek border, whence they Infiltrated into the country.
underground were, according to Most of those employed in the
December May. Flaxseed October December ktoy
3786-2784 --United Frem
Business done on the Hong kong Stock Exchange this morn ing amounted to $492,388. Noon quotations and the morning's transactions;
Olot.......................
Trading volumes, interests in the Exchange today,
28,300
40,200
www. Month
Vohime Open interest
Dec.
75,000
660,100
703/16-70 3/0 Mar. tinkuoted
35.800
600 700
Mary
582,000
July
1700
251,200
Oct.
0,200
Dec
69,800
| Mer.
Total
2.377,000 bales
0034-70 ell in Callforula.
No, 3 rubber per lb, Union Pacific accounted for a Oct........................
6994-0044 good part of the gain shown in No. 4 rubber por ib. the rail average. It closed At pot rubber unbaled 89701
де Det. *****AL1921. 877-8831 $188 up 3% points," "*.
Blanket crEDO
1,900
800
216,100
NEW YORK
Prices of futures.closed today
NEW ORLEANS,
Closing prices
70%
1321%
137%
10994
13016-131
In the
79-60 General Motors | No. 1 pale crepe .... motors, added 2 points to $8774
NEW YORK BILARES BUYERS SELLERS SALES | Chrysler" countered the general
as follows:
BANKS
trend with loss of % to $54%,
HK Dank.....
Of the 1,193 issues traded
Futures closed today 8 to 25
Spol
INSURANCES
454 closed higher, $40 moved points lower with lower and 208 held unchanged. contracts.
Oct.
saics of 12
Dec
Mar.
May
Union ........... 910 Underwriters 8,10
SHIPPING
New highs were registered by A slow trado belween dealers 91 stocks and 2 made new lows. was dominated by the lower
Sales on the American stock London basis. Exchange totalled 890,000 shares, land-bord volume. on the New York: Stock Exchange, was $9,170,000.
July
Oct.
Dec.
2346 -conts and "October ohe Dow Jones closing averages crepe at 20 cents a pound, all oh Wall Street today were us follows:
The local spot market ruled of sales slow. Estimated around 150 tons included some December one sheet at 24% as follows: [144] DOW-ZONES: ‘AVERAGES · cents; December ive sheets at
Prices of futures closed today.
Spot
Oct.
Dec.
Mar
landed basis.
MAY
20 industrials
26023
Oct. Spot No. 1 Res were quoted at
July
117,30 24 cents per pound. Future clos-
· Dec.
6 stocks
-102AL
6129 inge
100.90 December
34.55-$2
24.72
· LIVERPOOL
Closing prices,
America
24.70
$274.30
the police, former Communist New York Sugar
partisans, released prisoners and exiles, and even Communists given up Communian. who had declared that they had' Many
Market
Waterbost DOCKS, ITC. K. Wharf Dock
mat Dock
LAND, ETC.
$2.000
HK Hotel............ 1040 3031
·HK Land XD. 187
S'hai - Lang
Since April 1954, Communist The Greek Communist party, radio broadcasts from the other was banned aide of the Iron Curtain have since it ever In 1947 and defeated on the been telling the world that battlefield in Northern
Greece "they had completed the, first in 1948, has spared no effort or phase of the re-establishment of money to rebuild its underground the underground Communist party machinery.
organisation in Greece, Its first effort was dinastied by The aim of these broadcasts, the Greek pollen and Gred according
Undar Army Intelligence, in 1981, when Secretary of Public Security, ther discovered a large coming General Vrachnos, was twofold: "The." Government declaros tracts": form - led spy notwork! operating in Athen.
of them were people who were
New York, Sept. 23, World No.
haturca 4 suger evently released from custody
to the Government under the closed today unchanged. Implementation of" its "forget" 2 points higher with sales of 74 the past policy.
|| Humphreya contracts; de VERY
natures viuriak Domestic No B Warning all such people Field closed 1 point lower to 1 point Marshal Papagos said: -
higher with males of 186 con-
the
-sugar
Tran XD ;. 18.30 1835
*- Star Tetty
CZght
TAW
INDU
1. To bolster the morals of that it is able to arrest and will World futures ruled strady. to
members and fellow impo90 exemplary punishment Arm in line with the vellers; in Greece; ans'"**"
Helped by United States 8th
on all thom who, benefited market. Dealers, believed Cuba Task Fleet aircraft, Groek Army
Irdin 2. To show positive results
thejenlongy measures has almost: exhhusted" its, fred Intelligence men were able to co the Communist leaders adopted, have started again to quote of world sugar for this pin-point the position of two horses in Moscow, who had to work against the Blato,"
yehr, leaving specini set-aside
wireldes operating ceritres in the provide huge sums of money. The Athens dally newspaper sugars as the next source of suburbs of Athens, which were and other means to assist the "Avai organ of the Communist supply for world buyers, transmitting mutary intelleens Cipak i Comunautat party to camouñago Party Dercografic Future closings ware Rumahla. situated in satellite operate underaround.
Union, recommenung,” onlythe --Coktrack 20, 4 twai orrents," wrote;
(The plied was surrounded and 'caught
member of the ring c
by Boller while still, operating A
Swamp Crypty committed
Simportant
郭蟹蟹
40 bonde
Comm. future price indek
171.86March
-United Press.
Minst
July
September December.
ין.
middling, 16/16 inch, in
Oct/Nov.
Dec/Jan
May/June Sub/Aug
Include: 13
London Foreign
Exchange
LONDON
The market was hesitant with No. 1 Rss spot quoted at 20- 15/16 pence.
No. Iapet His H
Settlement, house, term:
• "Official") values ; for,
Kryption.
"Karnak""roc
2016 #1 Gina, Kood/ful
Amerionis middli
American Middling?7/80 |Mexican midating": 1-3dis
:; ་
cloning vid per kilo kwa
Nov.