THE CHINA
"FRIDAY, OCTOBER, 22, 1954.
OFF TO SINGAPORE IN THE SQUALL
KI
Temporary stop for Robert Brennam, (left) smoklag vipe, age 20, an artist of Essex Road, Clapton, London, James Simmons, ago 21 (poel) of Ireland, and the Skipper owner Mr Bill Blakes, (centre), at Newlyn, Cornwall, England, where hey sailed after breaking their main mast in a gale off Lands End, These three Intrepid young men are sailing to Aira- poro-a distance of 10,000 miles in a 13 fi, Bermuda-rigged yacht "The Squall". The yacht originally left Belfast on August 20, calling at Ardgloss,. Elikool, Mallahide, elc, and then on to St Ives, where further preparations are being made before they contlaue their hazardous Journey, when they hope the next port of call will be Brest, They are leaving Newlyn shortly for Portsmouth, to pass the Doctors, "The Squall has no motor aboard, and the adventurers are relying solely upon sall to take thom half way around the world. -Express Photo.
THE WEST IS NOT
SO WILD
BUT IT'S TOUGH
Cheyenne, Wyoming, Oct. 21.
Ranch life in America's west is a lot more comfortable today than it used to be, but it is still hard work.
While Buffalo Bill might not recognise all the modern con- veniences, he would have no trouble in fitting in at a moderate roundup where cutting, branding and riding have not changed in 100 years.
horstis are
Today's ranch homes, have] In the mountain valleys and television aerials, running water, foothills, however, electricity and all the other still the primary methods of mechanised devlees which make tending fences, rounding up mid-twentieth century life caster strays and carrying out the und more comfortable.
chores.
Some of the biggest concerns,
liko the Warren Livestock carry
counis of
In the mountain valleys, 100, the cowboy of today must gill weapons agninst Buch
mountain coyotes and rattle snakes,
Company of Cheyenne, use menaces vehicles with two-way radio ar uitcraft to Lake their herds, and race over the prairie in jeepą.
But when the basic work of ranch la to be done, it still
The uniform hes not changed, because no one has found more practical outilt for him 'to wear when riding, branding and working out of doors. His tight clothes prevent hus from get- ting caught on bushes, fences or boots in the saddle rig. His cancel out the chance that his foot might slip through the stirrup and
bo he would dragged by a frisky horse. His against wide hat protects him the wind, and sun,
TRADE and
HONGKONG STOCK EXCHANGE
WHEELOCKS AND BANKS TAKE
THE LIMELIGHT
}
By A Special Correspondent Wheelocks and Banks provide the news of the week
for the Hongkong Stock Exchange- Wheelocks with their dividend èum bonus of 75 cents, and Banks with their meteoric rise to $1,860. The Wheelock dividend "first: the actual dividend is 50 cents or 10 per cent and the bonus is 25 cents or 5 per cent, making 75 cents in allfor the year to March 31, 1954. In the previous year, the total dividend on the then $20 shares was $3,50 which works out at 87% cents on the basis of a $5 share.
So actually their dividend ly down. Their prost for the year 1953 was $4,140,508 so it would appear that with this year's lower dividend the profit is lower. The distribution wili tako up $3 million which rallier Indicates that the profit will be somewhere between $3 and $4 million but I would prefer no to make any predictions at the present.
COMMERCE SECTION
U.S. Rubber Consumption
– Now, York; 'Oct; 31. Rubber ** Manufacturers Association estimated total consumption of 'natural'KATE synthetic rubber in the United States during Sep.. tember ni 188,587 fong tons compared to 13,940' long tons in August,
The total comprised 52,- 688 tons natural rubber and 63,887 synthetic compared with 37,564, $40,503 reipEO- lively during August,
Consumption of synthetic rubber included 42,410 tons of GRS compated with 31,213 tons In August.--Heilter,
Sales For
'Sales For Foreign
Currencies. Is
Accelerating In U.S.
London, Oct. 21. American agricultural exports are dominated by two things. One is cotton, where the U.S. has billed itself as the supplier of last resort. The other is the unloading of U.S. farm surpluses, particularly by the "sales" for foreign currencies. Until the other cotton-growing countries take more advantage of the U,S. umbrella, the main effect of the first of these is to distort the seasonal pattern of U.S..
Most
World Cotton exports of raw cotton.
Markets
As the importing countries do in large seate has passed. not go to the supplier, of last mations, prefer trade."- The In-
for
resort until they have hopped- fegnatiorial Monetary Fund's up all the supplies offered on Angual Report remarked that better terms. from elsewhere, while, to date, Usposúla of the the previous nulump peak of U.S. surpluses have not had, been great effects, uny threat to com- US. cotton exports has forward pushed
10 R spring inodily prices would be serious peak.
the primary producing The other factor-the "sale" countries.
foreign currencies-18
Accelerating from $16 million source of continuous and rapid. in the year. 1953 to perhaps $100. ly mounting pressure. Shipments million or over $100 million or under this programme, which more a quarter in the altarted late in 1958 and amount future, the dispossis clearly cd in that year to less than $15 enchance that danger. millor, exceeded $100 million The total of possibly · ·$1,800 during January-June 1954. million over the next three years -
is formidable.
New York, Oct. 21. Allieds Bro off slightly, down from $4.225 to $4.175 but the Cotton futures see-sawed nar- cotton group is strong with both |20wly in moderate dealings ig-| Textiles and Nanyangs showing day. better prices.
At the close, prices ruled. 0 Unions have not been able to points lower to 1 pomi higaap. keep pace with their big Opened unchanged to a lower. brother, Banks, and have drop- Now Oricans Lutures finished 1 ped out of the picture tem-to 7 lower. porarily. Yesterday they wer Prices declined slightly of the quoted at $040 nominál and opening as hedging again offset were $930 buyers on Wednes- price fixing. There also way as ogaine buyers $825 last come speculative
Biquidation Thursday.
which
was influenced by the
LAST QUARTERS Hotels are quieter, business small amount
at $10.80 the Government loan, and the th each of the past four quar
or
the
and some
of entries
Was
Into
P
hear
Quite a number of people, it appears, are wondering why Whoolocks pald a 60-cent
WORDING CHANGED dividend and
being done yesterday a 20-cent bonus.
They have accelerated rapidly centa lower on the week. current slow demand for cotton
Moreover, there is a change not a straight 25 cent Yesterday must have been one textiles. dvklend, they ask? And the
quietest days sino
ters. Obviously they are going the wording of the Act. Under fear in their minds is that next rumours about the sale of the noon
There was a Tull in the after-} to "accelerato further, seeing Section 350 of last year's Act, deliveries re~] that the Department of Agricul- | the Amărican amelals, who sell if business is not so good year
Pedder Street plot first started. covered as much as 35 cents a ture is right now negotiating the surpluses had to safeguard the company can still pay an unchanged dividead
the sale of $384 million of the against disturbance to the nor without
Trading in the distant de-surpluses, and is only a mal marketing of the U.S. and tentative target figure, Onelals friendly countrice which meant The Exchange reported ex- expect it to be, ingreased in the virtually all other exporting
of disposing of the
has authorised
the bonus or a smaller bonus without compromising their dividend policy.
Ice House Street is rife with
theories and speculation but at
the moment I think these fears
are premature and the suspielon 甘 not really warranted-of rather that it is all based
extremely hypothetical cases,
од
You notice that despite the
fact that the dividend was down, the shares were up slight-
TODAY'S SHARE PRICES
(From Our Cotrespondent)
bale from their lows.
Riverice was slight.
that
ports for the season to Oct. 18 first at 587,362 bales, against 515,281 $700-1 bales in
the same period last 200 surpluses which
season.
the next three years.
over
counties.
In the new and larger 'pro-. gramine, the mention of friendly countries is dropped and it is
The Commodity Credit Corp, Morcover, and highly im- only the normal marketings of reported loans on 1954 crop col portantly, this $700
moment the US. itself that the officials ton in the week ended Oct. 16 not be the lot. eminent are ordered not to displace. at 60,694 bales, the largest on American expert (Dr Brandt of China, Mall Special.. the crop so far.
the Food Research Institute. Trading volume and open in of Stanford University) reckons terests in the Exchange today that, additional authorisations extend the $700 million to al- Open interest must $1,500 million
were:
ly and In the last two days Business done on the Hong-Month there has been a fairly, heavy-kong Stock Exchange this morn 16 37.500 turnover at $7,70 to $7.75 ing amounted to $363,991. Noon May which is 20 cents better than quotations and the morning's July Tuesday's rate. This, If any transactions: thing, reflects satisfaction. Cer- tainly I have heard of no one who is disappointed.
THE BALANCE SHEET
should lions,
The calving and lambing periods are also times for wäleh
requires rugged men, riding modern science has found
strong horses.
The
covers
Warren ranch 300,000 acres, On its grazing land, are some 2,500 catilo and 35,000 sheep. More than 100 men work there, tending herds, mending fences and taking care of the millions of jobs entailed in looking after livestock.
Even on normal side ranches, where about 200 cattle are run, Jeeps and trucks have taken much of the old-time burden away
of
Today's rancher is the first to admit that ranching 1954 style is easier than in the old days.
He is also the first to tell you that when the thin layer mechanisation is ripped away, there still remains the rugged outdoor work which has been the trademark of the cattle in- dustry since its earliest days.
a
Winter in particular, puts premium on ability to work hard and long imparsible conditions. When a blizzard sweeps from the mountains across the plains, modern highways
no
com-
Ranchers today enjoy forts in Uleir homes. They take advantage of modern transport short-cuts. They are jobs which require brute strength, endless to visit cities hundreds of miles stamina and nerves of steel.
dway, without interfering too The rancher of today is still
much with their ranch routine. casily recognized men,
But the basic Jofas still tight shirts and punts, his quire a sturdy man willing to
courage and western hat and wobbly, high-pit his
Hi
stamina
heel boots mark him, even if against the odds of nature. It his windburned face docs not is still a rough job for tough give him away."
men.--China Mail Special.
A
Dream
For
Fades Cinderella
Rome, Oct, 21.
Attractive Ida Maria Iacono, 17-year-old Cinderella from the Italian isle of Ischia, who hoped to become an English heiress, is seeing her dream fading.
Mr Robert Füz Auchier, 47-| He showed me Rome and year-old bachelor and managing Florence, and finally took me to director of the Coated Steel Co London, where I arrived on July portion of Europe, registered in 2. are blocked Jersey, promised to adopt her pre- and take her to London to be and each ranch must be pared to fight for its life on its groomed for. her new life. .
But now he has discovered he cannot adopt her,
OWL
aform can ruin in
A
"Everything seemed so strange and frightening that I cried for two days.
"But room I got ured to Eng-. I spoke to dark-haired Ida in tend, and when I left on Sep- Rome today, and found her bember 2 I cried again because I Bewildered, happy, excited, and did not want to leave. I think worried. She said:
London, is wonderful.
"While I was there Ivont to school to study: English, learned to drive a car and bar ed the test.
And then
I
SHARES DUYERS SELLERS SALES "BANKS
HK Bank Bot Asia INSURANCES
Union an interesting
The balance sheet, however, }.
prove document and I awalt it with Interest as well as the Chair- mane remarks on the company's | activities in the last 20 months,
1850 1800
200
2 930 940 Lombard Underwriters DOCKS, ETC.
X. Whart
Dogic
Provident.
of
addition to
to either -Agure. there is the $300 million surpluses that the President is authorised to give away out- La famine or other urgent right 3,697,200 bales. reitet to friendly nations,
without
even getting foreign
Prices of futures closed today currencies for them.
NEW ORLEANS
30.03:
Dr Brundt laconically ob 34.50-31 Serves: "The time for charity on
34.82-83
Volume
EUR 600*** Deo. 110,000
608.750
29,300
761,500
3,400
343,900
1,400
80,000
Dec.
1,500
63,000
Mor. Total
#20300 V
$13,000.
131,300
NEW YORK
as follows:
Sool
Dec.
Mar
May
$4.06
July
33.00.
OCE
34.72
Dec.
34.76
Max.
34.00
24,40 14.70
Wheelock 7.10 130 2000 48
Prices of futures closed today
as follows:
2300 74
Spat
33.05
Dec.
34.40
Mar.
ALES
May
35,00
July
£4,50
Get
SCD 210 218
$4.71
Dac
34.70
24.956
in
Tram Star Y'mall Ferry
XD
$8 10.20 200 # 10.10
134 300
132
300
184
C. Light
Electric
C. Light
19/10 Inch 32m 7th inch - 30.02 3734 324 350 0.3214 ↑ Mexican nigding
1-132nd [neti - 33,85 700 32
Others were unchanged Telephone 7.40 27.70 200 27,40 1000 i
Official values in spot coltons, In pence per lb, includer American middling.
LIVERPOOL
And now Banks: they are up on the week no less than $60- to $1,850 yesterday. On Wednes day, they were $1,850 and tho Ieg Housd Street experts 4x- pect them to pass the $2,000 mark soon
Reuters" "middles show, that the London Registers are fetch- while ing £107% in London, the nominal rate "quoted Hongkong,for the London rogisters ac" £1081⁄4....
Reuters Com- According to mercial Cables, the shares rose in London entirely or buying pressure from Hongkong. The report said there was greater demand for local (HK) registers that and the assumption was there would be a bonus issue at one for four. There were other that the Hongkong rumours Bank. may buy an interest In a British Baak in the Middle
East.
NEW 18SUE TALK-
Now issue talk is not new of course." It has been, going for some time, but a few people have told me recently that their brokera havo "boèn Advising them to buy banks, that some« thing more tangible than murs rumours is in the wind; My broker friends know nothing more than I've told you, how-
ever.
LAND, ETC.
HK Hotel.. 10.00 10.90 MOÓ @ 30.80 HK Land..
Humphrey Realty UTILITIES
NEW YORK STOCK
MARKET
New York, Oct. 21. Last-minute profit-takmg shaved a bit the sharp gains piled up by industrials and
World Rubber left rails slightly lower on
Markets
Singapore, Oct. 21,
average today.
The
realising hit hardest" among recent railroad strong spots after the climb in that group to n.new 24-year, high: A tappers ike in Indonesia Losses amounted to 2 poin's in helped the Singapore rubber Atlantic Coast Line, 14 points market to recover sharply yester in Union Pacific, a point in There were a few strong day and, first grade rubber for Louisville and Nashville. November shipment closed at
Missouri 77% cents à pound-a rise of spots, nevertheless, one and i cents over Tuesday's Paelle preferred cilmbed along with the road bonds as the closing.
The local prices also respond trustéo asked permission to pay ed
overseas $66,014,780 back interest on some to thelugher SAO PAULO
market and remained at the of the bonds, Futures closing prices, In higher levels, throughout the cruzeiros per kilo were a fal
1000 17.00 low—
INDUSTRIALS
Cement . 321⁄2 33 1000 STORES, ETC.
· Dalry Watson
(N) L. Crawford COTTONS
Textos Nanyang MISCELL Afied
24.70 24.00 500
16404
21.76
Doc.
17.10
Mar.
May
2003
July
7.7.13 10.10 10.20 DOUS
4:16. 4.50
New York Sugar Market
· futures
New York, Oct. al. World No., 4.:: migür closed today unchanged to 1 point higher with sales of 20 contracts
Domestic No. 8 sugar point futuros closed unchanged to lower, with low of 12, contracts. Ik mes de futuros: were quiet, reflecting Blackening in re- finery Buying of raw sugar. No world raw up ported, gadles were re-
Future closings wore:
Contract No. 4 (world)
Elsewhere in the market there have been a number of utilities in demand and Cements have risen to another new high "at 132--up $1.50 on the work The market talks is that they will
reach $30 soon without any trouble.
Business has averaged "aver the million mark this week, re fibeling
Zair smount Investment Interest r
sept,
severo A a few days the work of a life -time on a ranch, Herds which have been patiently and care
brod can be wiped out in fully. hours In the Howling wind driver sow
be met in The problems to be not winter storm 'are: 'feading;"pro-. venting
the cattle from wander."I met Mr Fitz Aucher for the ing before-the. "storm;: and first time last May as I was walk- Preventing them from dying as ing with a Swiss couple near my they stand still in the stormmative village of Bant Angelo,
"ma. Bíodern vehicles often become "Mr Fits Auchér: looked usels in the wild winters of intently, but did not speak ful house in Fall Saree, the Among the uuldes sought were y
Electrics the west Only horses cannabi: "Next day he called on my West End of London Ho also 31%) and Telephone (up from
(up from $31K 1 Epot- the, chest-deep mow drifia; and paremita and told them he wanted Has a
Rolls Roycel
...$26,80 to: 627,40). Dalry: Furma only strong men can stand the is mopt, me, look after my "I like Mr. cold and wind to coury food to education, and eventually make much Ho
busway are 30 cents beller WE $24.80,
Crturkind to stand still" in gundiys
Ich them
"I played toonie, and I also went to a nightclub for the first time in my life. YE
"My now daddy has a beaut-genuina
New York. Centrál ráse
fo $2014 when its
day. The market closed very point
Prezident eliminate its dencs.
steady, Future closings were:
30.00
No. 1 rubber per 1b
31.10
November
29.10
December
20.00
January
nog
70-1/10-78-3/10 unquoted
Cin the United States, the Nobber per 11-75 average price of 15/16 middling No. 9 rubber per bb.. cotton at 10 designated apot November
7834-77 markets was 34.10 cents. Sales No. 4 rubber, por l
November at these centres totalled 70,472 Spot rubber umbaled: 2735-lay bales.)United Press.
Blanket crepo iz 23%-74%% No.-á pálo crepe mer. 37-50
NEW YORK Futures today closed 5 to points higher with unles of 132 contracts.
NEW YORK BILK
DE FUTURES
New York, Oct. 21. Silk futures today closed, un changed to 3 points lower with no sales reported. Closing prices;
-4476.
447b 4.570
Press
by year-erh It was the day's most active'issue,"
A INDUSTRIAL GAINS," Industrial gains, ranged well over a point despite the realising.
Steels were strong. Chrysler moved up: 94. to $6734 Company unveiled its 1955 Dodge modela rose
ט על
$33% on a lower earnings
Atlantic Refining lost 12 to report but other oils had : TRIE Bar
The markot steadied on the Jing to more
than o
better
Factory
ber, Sun
(which
week) and Texas Pacific Land Trust
* Out of 1,218 issues traded, 480
higher. 434 kwer Sales amounted to 2,320,000
consumption interests were for-daptit The rise bobsled December, 1954, March and July futures were positions to new seasonal high shares
Spot No. 1-Rae were quoted at 27% cents, nominali、 Future
Chicago Grain dings were!...
Market
Chicago, Oct. 31. Prices por bushel in cents:??.
Closing prices
21036 (2)
December March May July
September December
LOND
The market wi Ras spot
The New York Stock archange bond. volume.
36.050,00 The
American Stock
1726.803)
shares
volume was
600,000
DOW-JONKS AVERAGES
abotit