THE CHINA MAIL, WEDNESDAY, NOVEMBER 24, 1954.
U.S. RELIEF SHIPMENTS
GERMANY $21,063,840}
FRANCE
$14.377
AUSTRIA
[$2,641,260;
ITALY $10,932,712
TRIESTE ($617,249)
U.S. RELIEF SHIPMENTS OF
FOOD SURPLUSES ABROAD
During 12 months ending June 30, 1954, value of surplus food commodities diarébuted in distressed areas overseas by voluntary salief agencies totaled $44,642,282
KOREA $1,233,462
MOROCCO $344,873
FUNISIA GREECE 577,772 $1,804,719
LEBANON
IRAN
| $915,601 ||-|$87,037
PAKISTAN N INDIA SL016,740 || $1,752,672
HUNG KIE $37,413
New Programme Typifies
Expanding Overseas
Surplus Food Distribution
By DAVID L. BOWEN
Associated
Press
Newsfeatures
Writer
TRADE and COMMERCE SECTION
WALL STREET BOOMUS. TRADE
Blue Chip Industrials Push Average To All-Time High
New York, Nov. 23.
Blue chip industrials, responding to a heavy demand, made history on the New York Stock Exchange today.
They climaxed a soaring post-election rise by lifting the industrial average to an all-time high, topping at long last the historic peak set Sept. 3, 1929 just before the gigantic slide which culminated in the record low of mid-1932.
World Cotton
Markets
New York, Nov. 23. Cotton traders today centred their main attention on adjust- the December delivery
A special Thanksgiving appeal will be made in thousands of Protestant churches throughout the United States tomorrow for a programme its sponsors see as a return to the literal spiritcident to first notice day of the Pilgrims' first Thanksgiving in 1621.
The motive then was to share the fruits of labour with neighbours of different tradition and belief in a search for peace and mutual prosperity. That is precisely what the "Share Our Surplus' programme hopes to accomplish on a worldwide scale, according to the Rev. R. Norris Wilson, executive director of Church World Service, the relief arm of major Protestant churches, which is sponsoring the drive.
*The
pkraun
japa
at
זי י
of
The issuance and circulation initial tendera for 15,100 bales kept
see-sawing prices
of
Over
n range active dealings
of $1 a bale in
Tuto in-
A faltering start was followed by a smart mid-session rally,
the upturns ran creased liquidation and hedge welling.
but
interests,
Lo
Now It was the blue chips, or, been widely anticipated. highest grade investment issues, an accomplished foot, many in which put the market over the the Street looked forward fop. Du Pont soared 4% polnia s higher levels, to $154%; General Motors 254 points to $024; Standard (NJ) 3 potrils
$103 to Standard Ol of California 20% w $721% U. S. Steel a point to $B
There were other wide grins throughout the list, but it was these Issues
the which lifted Industrial average 3.27 to 382.74) or 1.07 above the old peak,
น
the
American Wheat
Subsidies.
Washington, Nov, 23. The Agriculture Depart- ment announced subsidies
on wheat und four old from 331 p.m. EST today until 3,30 mi
Nov, 24:
Shipment of wheat from the Gulf Coast will be 70 cenis a bushel, from the East Coast, 74 cents per bushel, and from the West Coast 67 cents per bushel, West Cont flour $2,42 per 100
pounds.-United
Presa
HONGKONG STOCK EXCHANGE
POLICY BRIGHTER
Washington, Nov. 23.
Tik Washington Pos' stud editorially toftoy that "lve pros- pest for on efficlive U. S. irudo polley is brighter than at any the in several years."
The Post bas this opinion on President Elsenhower's past statements that a frees tande policy will be a central part of hls Jegislative progritmine 1955, and on the Democratie platge to give Mr Eisenhower's trade revetuurndations top priority in the House of Repre sentatives.
who
The pledge was made by r0- ipresentative Mr. Sam Rayburn, will be speaker of tho Heute when the Democrats tako over majority control of Can-
ers in January,
(From Our Correspondenti Business done on the g-
Activity wontinuac Hi the heaviest pace in several years,
turnover
the topping with
mark 3,000,000-sluze
for the konk $10,k Exchange thr eighth day in A row and thening amounted to $700.607.50. 12th in the
pest-election Noon quolations und Ther Sessions.
'morning'a transactiona |SHARES BUYERS SPELERS SALES Turnover of 3,000,000 shares or 10ANS was Apppert only by last
100 130 Wednesday's 3,830,000.
15
SHARP CONTRAST This was in shurp contrast trucive
wildly
speculative history. Of of 1929. There was higher, market contrast tou, in Wall Street's changed. These were 200 me matter-of-fact acceptance of the highs set, only mx new lows, new highs. The new peak had!
U.S. Economy
Doubled
Size In
321
East As INSURANCES
I'lem
derritet
Providet 199 13
Wheelock X1 # 710 $
"A!! this is highly encouraging to persons who believe that à high level of foreign trade con buttress the American economy and strengthen the tires that bind the non-Communist world," the Post sald --United Press.
Chicago Grain Prices
Chleage. Now
Park Cut pelen
BANKS
HK ak
The
of 1.260 market
WIN The bitidest
690 These,
k.WIT
FIIS REKA
202
..!
Ppters 1 bushel in
Pests
213 20
Wheat, No. 2, red
Spot
Were
P 20
Thee, 927101) za
252 1:11-
DOCKS
F
Mas
K Wharf
71,
May
234-223%
Dock
: w!ཞt ༩ 3
July
Sep
Cur, No.
4. yellow
1A 1930
Bol Dr.
150%
4.3
L
14
50
Mor
*R
DIRE
Ju
Sept
1430
150 100 21 18.90
1500 18G
Boe
Star Fenty
1940
134
Atar
Oats
Younoil
Ferry
1.30 100
Ha
There were
EVERY
good performers classification. Aud only a dvw loses of any size.
The New York Stock Ex- change bond volume was $5,959,000,
The American Stock Exchange volume was 1,150,000 shares.
DOW-JONES AVERAGES
Dow Jones on Wall Street follows:
30 industrials 20 rails....
closing averages today were as
Final prices ruled up 3 to 15 points. The market opened off Orleans to 4 points. New Further anding the movement distributam of surplus foods for closed off 1 to up 16 points.
credited Buying
to Dallas mollecting upwards of ser taillan of these "wastung" commodities religious groups with large va-
the new art | Ku
Kunisations abroad is slumated
with sintribution are provis S
ulong
a spol collura to Anne
heu:0 demand ସ୍କ9 th: Dic sat surplus foods. berg made through which a high percentage |at not more than 5 per cent of
widenal, differences March The value of the food which bv the avadlubile live
United of transportation costs to overs
gift of the
plus commission house buying delivery points are mad was received free as Stans Grenument. The Thanks- seas
with the slock market rise, This US taxpayer. For the religious this giving appeal year is the first duvettv
indirectly.
stendiod The the greatest fuod
after market
Washington, Nov. 23. in a drive expicted to last means the private agencies have wancies, I'
United in their history. vl
The economy of the dis roller bargain
December touched 33.70, a new During that only to bear the cost lead three years.
States has doubled in size and w since last April 27. For the destitule when receive beyond the point ohemia estimate | tribute be CWS
character The fruits uf
Textilo this Amria:n
market
news, spot changed sharply in market developments, seneurity, it sumelianes
crop during the last quarter century, the difference between life and acounts and the usual run of the U.S. Commerce Department Comm. future price index
special study. earth. of
influences were reported today in price-shaping temporarily cst sight of in the The "most significant change light of the December adjust- In character since 1920, the
Department said, has been ments.
Trading
Govern- volumes and open threefold Increase in interests in the Exchange. to meni spending. due largely
much bigger national security day were.
outlays.
They will need 71⁄2 malnou dekīnes | dvivvery over exis
to distarhate a barwen gal sit
500 mellem promis
1.
"Shar Our SurpÏUN “ 15 (41) xangalef the spectul impetus The 1 being given mgmamalarak sat Protestant, Cath Je - Jewish
by agonisties
TRUY
*** the 1sterai la ! wing disparavadients.
Ad Sant
T
turbines Pick-
During the 12 months ending
1st June 34 The compatry - a ing up bars. more than 44'2
mullion chillars of surplus butter.
a vase, pe widered milk and other the put in the hands
J
et vatans of war, famine and
de arter through mut
the world
by religius miti vaher voluntary vilent agenens Of this total of
With this big as it from the
the toll govemment,
incans
U.K. Trade Union
Plan For
Coloured Workers
Coventry, Nov. 23,
One hundred union leaders are to debate here on Thursday a controversial plan under which
fed, approxins dels 85 per cent coloured workers in Britain would be deprived of
was distributed Reps alors
13141
recent
VARIANT
under
خرا
religious
13--
***ponded
Barone made possible by the legislation. wluntary are alining during the year at boosting the ngres to 700 inillem pounds of
worth
than 200 figues
more
ndition dellars. These
based
rots
in
promotion prospects and working security.
The plan will be placed before the Regional million strong eight Advisory Council of Britain's Trades Union Congress by Mr Jim Leask, organiser of 60,000 engineer members of the Transport and General Workers Union.
Open interest
180,500
Month
Dre.
Volume
$1,000
Mor
May
M1 200
253,100
4,100
Jarly
18,000
447,000)
1,000
100,000
Duv
1,900
13,400
Mar
2,000
May
200
10,300 200
Total
213.100 2.763,000 bales.
NEW YORK
a
to
16 litte 3 Kicka
bonds
LAND, ETC
HK Ho HK Lant Huanphreys Renity UTILITIES
C Light 0; 1860 16 D 2000 in 70
יאת
いま
1301
Mar
Soybeans, Na, 2, Tellow
Light (N1 13:30 13 40 1000 140 VF30 $
Spot Jan
Fr
Mar
2003-
Firette
301 MO
May
29714-1k
500 ... 3612
July
2200 301
Berit
-300 • 100%
Barley
Sel
J2.74
130,36
***
Macon Be TA
140.49
25.40
101.0
174.22
Dement Robe
United Press
World Rubber
Markets
Singapore, Nov, 23.
The market opened steady on oversens acceptances and ad- cased towards 110011
But there were other deep running changes, too, when the economy of 1953 was compared with that of 1820, just before the start of the great depression.
changes showed sharp vices but These differences In spending for pers
use, and in the pattern of Profit-taking with support very Prices stendler in personal spending, accompanied caulicus. by a decline in the farmers the afternoon on further trade Prices of futures closed today share in the economy, a big rise support and little factory buy- as follows:
in industry's share, particularly ing. Futures closings: that of manufacturing and marked Increase in the percent- age of national Income.--United Press,
NEW YORK METAL,
FUTURES
Dec.
Telepivar INDUSTRIALS
STORES, ETC
Dairy
11 ד 151
200 14 361,
34, 355 300 31,
HAM 17.00 |
Sne
LF1
240 to R4 a 28,43 TWO & PUJN) 0.00
17 90 18 10 27.30
Watson. L Crawford COTTONS
Textile Curin Nanyase Xi7 9.93
MISCELLANEOUS
Yangtze Allied
710
10 1040 7 in
234093
1.90 31 1300 3.85 4.22 $271, 1500 ze
LONDON WOOL TOP MARKET
New York Boyur
200 th, xack
לג-,2011
130-150
$14.0011
-United Press.
London Foreign Exchange
New York Montrea Amsterdam Brussel Copenhagen
Odo 423
London, Nov. 23, Wool tops futures market had
F
Pari..
Stockholm
Zurich
London. Nov. 13. 2,70!%-2.19.3/10 3,701 2.703/16 10.00-10.61
110.60-139.02 194219-19423. 20,01%-20.02
14.44-148515 12344-12.2444
Chets were unchanged. -- United
another strong day with prices New York Foreign
for
the most part up pence per Il. The clon we firma, turnover was 169 lats. Prices:
No. rubber per ib.
Dec,
013-3/10-83-5/16
Jan,
82-15/10-81-1/10
Feb.
unquated
Deg
No. 2 rubber per ib.
Jan,
Dec,
Mar
No. 3 rubber pår ib.
May
July
No. 4 rubber per ib.
Sepi
Oct.
Spot rubber
03-03
Dec.
Blanket crepe
70-77
Jan.
No.
i pale crepe
*9)+02
Mur.
May
fol.
14.000
14.00h
00,76
New York, Nov. 23. Prices of metal futures closed felny in cents per lb. as
lows:
Spot
Dec.
4.450 33.07
Мат
34.33-34
Mor
34.63
July
24,00
Oel.
34.34
Dec.
34.42
Mar.
34.42
Max
34.54m
NEW ORLEANS
Prices of futures closed today as follows;
Lend
Nov.
30.50
Dec.
Tin
Nov.
34.30
Dec
34.58-69
Zinc
Nov,
34.37
Dec.
10.301
54.43
Copper Nov.
54.03
Dec.
32,000 32,400
an:
34.03
54.43
b-bid n-norginal -led Prest.
July
Oct.
Dec. Mr Leask declared last night) are flooding the labour market. Sp
claint Mar These trodo unionists on minimum require he is putting the plan forward
of that if the coloured workers May great deal ready on
file with the to "avold a
should unemployment| gain a big foothold in the Mid- Council of
of Voluntary trouble"
return to the Industrial Mid- lands, the Jobs of many whites Dec. for Foreign Service
1471- would be jeopardised if lands. New York, which represents the
employinent returned. 10 agencies for overseas relief recognised by the U.S. Govern- ment. If realised, they will be more thon quadruple the size of last year's effort,
Change in law
This tremendous increase is the result of a change in the governing diaposition of
law
surplus foodz
His plan has four main points: 1. That coloured workers should not be given supervisory Jobs over whites,
2. That they should not get jobs it white available.
could be dicased by the U.S.support
workers
arc
Mer.
May
LIVERPOOL
elostngs, Futures
American middling, 15/10 inch, in pence per ib. were as follows.
NEW YORK
Futures closed today 15 to 30 points lower with sales of 131 contracts.
Fallure of early buying
90.63 levelop
10.20
LONDON METAL
PRICES
to
any follow-through
brought subsequent
hedge offerings.
re-selling
A pause in the factory de- mand
for physicals, and the smaller consumption figures for also neted October,
to upset
rallying tendencies.
Domestic Odtober consump- tion of 114,041 tons contrasted London, Nov. 23. with. most dealer expectations The in market was much for between 115,000 and 118,000 firmer today while other metalstons. were stendy. Prices closed today
In the spot market,
several
in sterling per long ton as hundred fans were reported done on February one sheels at
down to 284 coms a pound,
Landed, boss, Spot No. 1 sheets
28 centa were quoted at
Dec./Jan.
Mar/Apr.
31.54 31.70
May/June
July/Aug.
31,90
hio
Oct/Nov.
21,00
follows:
Official values for spot ections
Buyers Seller
a
I'd American middling 18/10th inch 33.18 7/8th inch 20.00 littlo Mexican mosiing 1-1/3and inch 3340
Others were unchanged.
BAO PADLO
Tinapal
3-month Copper spot
morith Land Nov,
Teb Zinc Nov.
Feb
717
7271
72035
721
2734 238
27211
2005
107 2001 100
pound:
104
Futures closings were:-
Doc.
$1
Маг.
20.16.20 25.40
Prous
May
28.30
Futures closings, in cruzelres par kilo were as follows:
Dec
July
15.30
Stopt.
28.225
29.45 32.00
May
July
31.50
Oct
32.00
NEW YORK WOOL D.
TOP MARKET:
Many workers would like to see Jamaleans and others placed on the same fooling, as Poles and other displaced persons were in Britain after the war with guaranteed employment so had long as British workers 3. That there should always comparable jobs, be talks between employers and
Leack said about Mr unions before any coloured plan: "People will shout about staff are employed.
and there may include: a colour bar, That coloured employees be bad feeling among coloured
themselves, but should be the first to be sacked people
much in a recession.
sooner have Under Section 410 of the
the Re- trouble now than a great dent Mr Leask expects Agricultural Act of 1949 only surpluses in danger of spoilage gional Council of the T.U.C. to later.
his
would "This is a great problem, and plan, which then go to the General Council has to be faced while there is of the Congress in London. full
Our employment.
Drst But the
The background to Mr Loesk's loyalty must be to white people CHOPINIA | move is
Mor a growing infime of who live in. Britain and have Act of 1954,
workers-chiefly | been coloured
at their trade a long bocome officelive July 10, Jamaicans-into the Midlands. time.
Doction to make re-
bar, "Nobody wants a colour Birmingham hay nearly 8,000 lease hinge upon the
prevention coloured workers,
and more but there will be bitter racial (In the United States, the @25,000 1587 Prices were; waste of commodities
al-feciing it, say, a coloured charge average price of 16/16 middling po aro coming every month, before they can be disposed of tracted by good jobs and high hand is kept on
while five colon at 10 designated spot in normal domestic channels,
white people sacked. It markets was 83.75 cents. Sales
Bro paya without Impairment of the
pries
Employers are welcoming the only needs a lump to set the of these centros totalled 52,277 July support programine,
coloured Immigrants as there whole thing nlight,”
bales) United Press abroad.
Mr. Jim Brown, Midianid
OF an climated 45,000 jobs prices....
ganiser of the National Union vacant in the Midlands.
Pockets of resistance against of Railwaymen, sald;
YORK COCOA With storage costs of surplus the newcomers are developing very worried. There are stroes commodities at a million dollars bng workers.
that British"); Mubjects Thore - have irents
PRICES a day and rising steadily as the beer cases of bus drivers, com should have equal rights for Zurth price support formulae ductors and electricians 10 promotion, cause more and more purdhames, firing to work with Jamaican The, nawor, logically, should commodkies
be crystal close, 1: whose sioenger comta recruits,
Commodity Credit Corporation to rullef organisations. Ageleultural Trade Development
Assistance
ol
ho
this
ཐོ་
competitive
solá world
are
are likely to equal or augue Union leaders see a difficult colour, bar, but was their mutual value are dermed luation developing among our worker thio account
daster of “ being wasted, many of their ran They thun become available to WHO LATE Opponliis
want
NEW
New York, Nov. 23, Wool tope closed 42 to 71 polote gber with sales of
180.Da
100,Th (103) ham.
178,7-traded
•170M· · traded 173.b
LONDON
A
134.128 12474-120
14-12415 Canada
124-120 124-1241 12324-12314 12374-1241 122-137
12211-123
Exchange
New York. Nov. 23.
England-official
unoilleial 30-day futures 90-day futuLDER
Australia...
New Zealand 112-127 South Afrien
Uruguay
12115-322
United Press.
2,70 3/16
2.70 7/16
-United Press,
Tea Price Increase
For U.K.
Unfortunate For
London, Nov. 23.
London's Financial Times says in an editorial entitled "Ceylon Tea":
•
The further increase in the export duty on Ceylon tea was not unexpected, though it has come at an unfortunate time for the U.K, tea trade,
It is certainly unlikely to help
blenders in this country to keep
down the retail price of tea. It New York Sugar
the further
that is probable sharp increase in the level of this week was
auction prices
to the anticipation partly due. 20.25
The market was gutel with spot No. Ras quoted at 25-3/10 pence per lb. Pricom: No. 1. Tím spot an
"Settlement house term:
25-2872
044--
24-74
24-24%
Jan.
Feb,
MAY
Mar.
£75,04 || Jan./Mar.
Oct.
Dec.
Epos
173.00 1110 traced
171.00 Apr/June
Oot/Dec.
nam.
.162.6
United Prom.
Katala"orepa
change Rates
-AMSTERDAM Www The markol
by the market of the present
rise in the duty.
The
Market
Now York, Nay, 23: World No. 4 sugar hilures
question is now how far closed Roday unchanged to one buyers are willing to absorb the point lower with mlos new Increase. They will prs contracts. ably do so at least in part. "It
Domestic No, 6 sügar futures is, difficult to think that prices closed one point higher to two at the next Colombo auctions points lower. with sales of four will react by the full extent of contracts.
the now increase, AR
"In this
Futures closings were:
Contract No. 4' (wortá)
in
country tho effect
expected 2314-21 may be to hasten the
rise in retail prices, an further General markets, oil basin, portmi
193-34-7/10 what's greet anls will have on March Dee Jon,
26/10-7414 Bukk
consumption is now the question May Feb.
July undoubtedly
the intereste of both, the trade and producers Splicenta per that there should be a mbra, Cube)
level of prices in tho
be/haped alny in gulder that the Ceren Government which has been, quickc16, TriG the duly in a rising market will.
Saty
Maple not by behind in. lowering it Maral
should the price of ten fall,
Ofríoní.
United Press
pol