Novosiblesky,onse
Barstaut
Slavinak
*Stalinak
99409AEW BAUNGADE
PLS HAILROADS
UNDER COMME
**@** OLD RAILROADS
THIS RAILIDAD SEHERATE WE THE METH
WALL BEACH PÉIRIN
IN 1936
AULITARY AIRCRAFT PLANTS
STEE LANALT
NTS AND
COAL MINES
REGION
"AF Newsfeatures
THE CHINA MAIL, MONDAY, JANUARY 17, 1955.
Russia Building New
Industrial Complex Central Siberia
In
✰ By TOM WHITNEY
The nascated
Before joining the Associated Press staff in Moscow in 1947, Tom Whitney was chief of the economic rection of the American 'Embassy_there for three years. following story la bared on his careful examination of Soviet publications, apatna; his background of 17 years as a student of the Russian economy.
Evidence keeps coming in to show the Soviets are giving super priority to the build-up of their strategically located economic fortress in the heart of Asia.
This area, as outlined on the accompanying map, is an elongated ellipse stretching a thousand miles from Novosibirsk on the Ob River to Irkutsk-on Lake Baikal, and more than 300 miles from the port of Yeniseisk on the river of that name to the region below Abakan on the new South-Siberian trunk railway.
tory alone allegedly made up steelmills include one of the for the entire grain deficit is biggest and most modern steel plants in the world. Aircraft Ukraine due to serious the
factories have been in operation drought there.
at Novosibirsk and Irkutsk for 7. Construction
on the South Siberian trunk line between some time, and both light and Ababen and Talihet
the heavy manufacturing plants aro mainline Traps - Siberian scattered about in various cities
of the region. thought to be continuing. This railway is expected to open up important new sources
of iron ore and other minerals.
In and around this ellipse, work in a speed-up basis is in progress on dozens of big con- siruction projects, Including hydroelectric dama, railways, and almcat certainly plants for the production nuclear weapons.
This central
Siberian
some
area
already had a large industrial production, exceeding that of European some of the larger
Not only is this in nations, dustrial strength scheduled for sleep rinCA, bul agricultural output also is being Increased to make it one of the big granaries of the U.S.S.R
on
The existing development plus that oby.usly planned for the coming decade odds up to a complex great new industrial which may in the not distant future rival such areas as the kuar, in Germany, the Great Lakes district in the Vulted States, and the Donyets Busin In the Soviet Ukraine.
TRADE and
COMMERCE SECTION
Page
GATT CONFERENCE NEW YORK
Britain Not Expected HONGKONG
To Gain Her Important Concessions
From Ronald Boxall
London, Jan. 16. Although the exact terms of the new, permanent General Agree- ment on Tariffs and Trade which are expected to emerge from the current Geneva conference will not be know until late in March, it is already clear that they will fall far short of Britain's original hopes,
And one result of this will be able to delay still further the plan to make sterling convertible.
this rcccgnition it Jepan engaged in disruptive competit, on
Bitain's fear has always been virtue that once the pound has been set free other countries might restrict their purchases from her in order to build up a reserva of string which they could
NEW YORK STOCK
MARKET
New York, Jan. 18. The stock market WNB quiet during the past week with prices in the general
UNCONSTITUTIONAL This would have meant that it Japan
had resorted to "un- then convet into dolars
and constitutional trade practices spend in America. To
prevent such as copying designs, dump- this she proposed a revision or
Br.tish quads In ng cheap the part of the Argreement markets, er Favily subsidising which permits members to her exports to give them on un- restrict their imports by means fair advantage, Britain would of "quotus."
have been able to revoke ber to Japan under Under Anticle 12 of GATT obligations
GATT. quota restrictions are permitted
Britain wanted these condi- *for the bal.net of payments
Lions
written into
separate Britain wanted this trade agreement with Japan. But purposes." rule tightened. li proposed to
cinforce in two ways. Frst, all Japan rejected this.
As a result Britain will not average about unchanged imposed under this
forthcoming from last week. Article should be subject to the ke part in the
negotntione with Japan approval of
the contracting
which
an essential pre- parties immediately afterwards. Secondy, these ratras ence condition to full-membership of GATT. But thes question imposed should not be extended whether or not she will invoke beyond en ytor without the Article 35 when the protocal of total of ather member's prior approval.
Japan's accession is drawn up Britain had her: way for signature is still undecided.
who countries
st111 restricted But though Britain's hopes their Imports of certain goods have been disappointed on more would be required within than one count there is every stipulated time to throw upon reason to bolove that GATT is:
wik their home market to all comers. not only survive the review but And since
the stronger in the only exception will emerge
The
restrictions
United
a
The success of the conference
The weekly sales volume of 17,300,420 shares
WIS the smallest since the week ending
STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong- kong Stock Exchange this moming amounted to $1,520,- 110.00.
COTTON MARKET
REVIEW
By William Plunkett
New York, Jan, 16. Cotton futures started the week on a reaction and remained on the defensive thereafter.
Maximum losses up to $2,25 a Noori quotations and the | bals carried the list to the lowest morning's transactions:
level since Inte November before rallying Power
SHARES BUYERS SELLERS SALES worthwhile
BANKS
HK Bank
Eort Anla
INSURANCES
Union
or 2180 10 2110
2120
214
13 4 140
Lombard Underwriters 1020
DOCKS, ETC.
KWhart Dock
Wh.eluck
LAND, ETC.
HK Hotel
20 20
7.03 17.600 «
18.40 15 1000 15.40
600 15.50 181 in 71
B007
doveloped,
At Friday's close the list stäl was 10 to 32 polnis 95 cents to $1.60
a bale-lower than
preceding week,
Cled factors offered to plain the enctlón includert:
tho
.1. Congressional uncertain-
rac
Provident (0) 109 10.00 1000w 10 ties on form legislation dealing 145 with acreage controls and prico
A. supports for next year; 2. slowor
of produger im- poundings under the loan pro- gramme and 3. At increasing volume et March 11quidation as traders looked ahead notice day.
HK Land .. 7215
Humphrey's Really UTILITIES
Tram
23 20 25 00 2.10.1755
...22.3022 10 500 por
Star Ferry ....... 120
1000 m 222.10
1000 or 22.20
1000 * 22.30
630 g 150
Ysumatz Ferry 100 101
100 1 187
100 108
100 G 100
400 100
350 191
to first
WAREHOUSE STOCKS
in
tho
Heavier sales in the spot markets, particularly Far West, brought recurrent spuris of hedge selling
seli cot- futures.
Pressure 'to C Light 101 18 40 10 300 18.50 tot at Fresno
was associated 1300 18.40 1000 418,50 with the situation whereby the 4300 15.40 Atate of California, imposes a lax stocks after wordhouse
Electric
March 1.
C. Light (N) 15.20 15 60 6000 13.10 on
433 68 15.20 ....2015 39% 500 30
3300
600 30
MACHO Elac 131 Telephone
Another buying handicap was found in the possiblity that the commodity Credit Corporation 1500 381 may act to expedite that
INDUSTRIALS
Coment .... 411 4500
18.0
Repe
December 23, it compared with 22,945.018 shores a week ago, and with 14,672,305 shares in The corresponding week of 1954 when the market had a gubsta STORES, ETC.
Dairy tal gain.
Watson L. Crawford
This week
2414 24.60 17.40
20.80
Textile Corp. Nanyang 4 9.30 955 MISCELLANEOUS
Yangtze 605 Allied
produced a sub- stantial rise on Monday follow-COTTONS ed by four sessions of doellas. for the industrials and rails. Uulities were unique with in each session and a gains rise to a new high since 1931 in their average "which" gained 10 cents on the week.
Rails lost 2.32 points, but Industriels which rose 5.20 points on Monday finished
corts above
close.
to this would be in the case of several important aspects. countries having balance of pay- Geneva cérébrence has showni ments difficulties, it would mein thr difficulties
thrishing of stricter trade code which that quote restrictions Imposed as out part of a national policy to fall countries would be prepared protect domestic agriculture, to 'cdopt pa the basis of the'r would also have to be swept | commercial policies were
were greatly away
underestimated. But it has re- vovled
1 remarkable GRIM PROSPECT
unanimity on the need to keep 04 This would be a grim pros-
the A
Agreement in existence in pect for any country at all one form or another. whose economy is largely in should not be fudged, therefore, dustrial; but for the States which occupies a dominant by the number of changes that position in world trade it raises are curbedied in the GATT but exceptionally serious problems. by the spirit in which the 34 mamber countries interpret its America's biggest
is to rules in their future dealings Here are a few of the big feeding of new settlers needed the resources of this
counomic headaches It is probably significant that
what do with its own. Vast surpluses with each other. central in the to work them. They will permit Siberian region are located in a
Faced with of ferm products. a rapid increase in the economie position which they
the task of reducing the burden independence
of the area
on the American taxpayers, who, and Communist China with orna supply both the Soviet Far East
must finance the purchase and Central Siberia was oo in- and industrial materials. A new atoring of those surpluses
the dustrial weakling before this rallway running bearly directly United States Government is not
Tena of
from Irkutak development started.
Baross Outer unnaturally appelled at the millions of toms of high quality Mongolin to Peking in Red
pospect of having to throw open cond are taken from the Kuzbasa China will be completed this te home markut to other minos each year. The Kuzbam year,
projects
construction centrai Siberian area which are now under way or were recent- ly completed:
All these power, railway and agricultural developments in- erase tremendously the Indus- trial potential of this central Fiberlan
make rogon. They possible the planting of new in- dustries in the area
and the
the
1. An immense hydro-electrie other Ruas so industrial contre
dam is being thrown across the Ob River at Novosibirsk.
capacity remains
us doos Its date
Il can λόμονος,
Its
unannounced, of completion
bo roughly estimated
that it should be in operation by at least 1960 with probably somewhere around one million kilowaita of new power for industry.
or
at
2. Another large dam is being bulit on the Angara River Irkutsk. It should be finished somelime in 1938
shanty afterwards. Its capacity has not been publicly announced brut estimmtes place it around 700,000 kilowatts. It's rumoured this dam may furnish power for atornic Installation reportedly not far from Icktrisk.
3. A railway is scheduled for
construction by the end of 1955
along the Yenisei River between
ports so for on the progress on this work.
201
сал
WONDER METAL
TITANIUM
JUMPS IN VALUE
It now ranks behind only coal ton, eventually releasing the and gold.
rutile on the beaches. But toarns for Australia Black sands contain from two millions of dollars a year, and to five per cent,of rutile and 4. The Krasnoyarsk-Yeniseisk looks like bringing in many associated minerals. railway, is apparently associated more millions se the black Most with another more mysteriousands of the east coast beaches the
Australian companies do processing on construction project in this area aro, drained, of their rich metal beaches themselves. The separa- which is being built by an orlic element, ganisation known as "Yeniseis-
the
For one
of
Singapore Stock
Market
Singapore, Jan. 17.
4.5715
levelled by the sales of ito, suur- plus appropriations committee at the C.C.C.. for feiling sell.
inventories com-
moro
The
of its
petitively in world markelis.
York New
Cotton Exchange Service Bureau samazed domestic consumption of all"raw"cotton in the, Elves weak period of Nov. 28 10 Jan. 1 at 125,000 balos. This bales in coropared with
and 757,000 bales in the ssmo
the breeding love period Exchange Rates five-wetic period last year.
5.65
On the basis of the Decem- Bunca wis done in the local up
uno cial
theber caimate Inclented. exchange market last Friday's merong at the fchowing ralida- sumption for the reason for the
1.8. delar iper (3D2ND
15.08 22-week period-Aug. to Jan Strelng, rides. (per Indonesian rupiah (per 100) .. 17.70 approximated 3,710,000 baler glowing slam. Leas (pur 100
160 against 3,748,000 balce a year 997 Carller-United Press,
·
new
Busincas reported production Agures high since April, 1963 in auto output a new high since Nov. 16, 1953, in steel production; a rise in car loadings, a rise in
electricity output, a rise in re- tail trade.
MARKET STUDY
But these were ignored by the market which paid more atten tion to the new Senate stock market dy scheduled to schr. Lexi monia and a firming tene. dency in money rates apparen ly a plan to check further the marke's advance.
countries' agricultural experts. Brokers today quoted to fol-
But though Britain's proposal Cowing stock prices;
Since Jan. 10 Jan. 17
Federal the
Reserve will not go through in Ita
Closing original form this does not mean British Borneo Petroleum
Opening system boosted margins from 50 that no progrom his been made Syndicate
per cent to 60 per cent there has been a tightening of credit which has boon fell the most In the market for United States Government bonds,
at all. America has much. Consolioated Tin Smelters, sympathy with the British View as shown last week by President Eisenhower In his statement on foreign economic policy:
Indo-China piesires (per 100)..
1,50
LONDON STOCK MARKETS
Industrials Knocked
Out Of Their
Stride
But Recover
From Our Own Correspondent
London, Jan. 16.
After advancing strongly for the first two Humphrey, is planning to us days of last week industrial shares on the London
ordinary festo 28/05
$15
28/td
+
"If they are to be successful,”
Frater and Neave Ltd..
Ordinary - salon TD0 Frmer and Neave Ltd,
7-cum. pref. Hongkong Shanghai Bank Corporation (Colonial Register)
$6.60
12.00
$8.50
'It is
$1115*
$115.
Secretary
tho reported that of the Treasury, Mi
$2.7
44.05 12772
11.10
$3,95
$28.25 820.28 $25.00 $23,00 $17,18
13840 $1.95
$13.20
$13,20 31.90
It is said.
We must take account of any effect of any
BRAVE BENTIMENTS-
4
Special
akng-term Government ben
with terms favourable Stock Exchange were knocked out of their stride enough to alption off some in- by a sharp fall of Government securities. But this ves ment money from the acck
market. This iue depends proved to be only a temporary factor and indus- upon consultation with investors, trials soon resumed their upward trend.
a rise in the rediscount rate.
| CASH AFFAIR
tax rollefs Helped by the pent up demand aubstantiul
In the Money in other sections has
of investors who had held off next Budzot, $3.501 Armed. Bankers Ecceptances have the market until the rail strike Gains were a opread through- boosted. There be a talk of a rise threat had been removed, the out the industrial list, but the in reserve requirements and Industrial share market had its most notable rises were in the busiest day on Monday for eight engineering and stoves groupe. years Tuesday was only slightly Motor and motor accessories less bury and on these two days
were also outstanding. While the stock horkatlone, the Financial Times In The news that Borax Cory- mowily a cash affair, it is held dustrial/share index, put on solidated, had, broken off cults
with nearly three points that money! lightening devices all-time peak of chees of shares. would tend to cut down pur
ho told Congress, "programme3 Malayan Breweries, $1.05
Rames Hotel ...... designed to promote the protingapore
Cold Storage... As a money-maker, the "wonder metal" perity of sgriculture should be
consistent with our foreign econo. Scuth British titanium has jumped to third position
Insurance in mic
Straits Trading duo ramme.
Stearnship Krasnoyarsk and Yeniseisk. importance in mining production in New South agricultural programme on our United Engineers. There have been no press - Wales.
foreign economic relations to Ordinary issue
Wearne Brothers $2,00 ensure that it contributes to the Hongkong Tin, ., 6/3. development of healthy, expand-with div ing foreign markets over the Poting Tin #3.30)
Term-ly. Cum-expital Isuita year."
fwith div.
China Mail
Theas are brave sentiments The Bank Of England tion
Is
from a Republicón President. It' plant, although bulky,
Statement for built America santa titanium
only remains to be sceri, whether trot." This organisation was aircraft building.
on akida resting-on the sand and is completely
they can be translated into Con- mobile.
London, Jan. 16. mentioned in the Soviet press
Its tensile strength, greater only once during the election than steel its weight, omial to back on to the site. Under local of the mounted slaves is ment for the week ended Jen. 12,
The residual sand is pumped grosional action, with the help
The Bank of England stalo- campaign last spring. What it that of aluminium, and is re-
But clearly the United
States building is
a state secret but it sistance to very high tempera-lations, grass is planted to is apparently a large project. tures have made it valuable for prosion
bind the sand and prevent not yet in a position to commit rod as follows itself to that sort of """reguited" Note lo circulation 5. Several week. RO the use in jet aircraft engines.
The concentrated wand is then GATT that Britain is proposing. Publ'e depoils Soviet press announced the com. There is expert belief that with taken to another plant where it
Private dipolits pletion of a railway between more research It will be the
Britain has been disappointed, Government scurities Taishet on the main line of the main metal used in jet aircraft further separated: icon
with
the response to her Other stearities rutilemond amenite, which all too
Recripta Trans-Siberian rallway to Uste productiori.
to insert safeguards, Rain" Kin on the Lene. River.
Abe United States has already Welsh about the same, are left, proposal
Into GATTgainst the risk of Laying of this lioe was a major spent many millions of dolinen 10 which then our fire, limenite "daruptive competition from
These are played under a mag- project which involved putting in retranch into the dincult and inde i conube peronage of Japan wace this country is ad down over 436 miles of rails, expensive test of winning pure
mited ara
member according to Boviet papers. Atitanium from its host rutile. ble bridge, a major enginewing by Amwelený anice, the, bul"-
that feat, was built acrow the, Anwara Australia's yearly Mutport River. The new rallway cosas 19.000 tons of gulile, Wijlahu regions of the work timber found mostly low
up one of tig) Ertelemet
*The
in notibaren New Bouthi
4. The plowing of virgin farida, and southern Queen
in Altal proviños achieved kres gwhile gradlew mendous sucoses "this year,
cording to: Soviet governs
claims, The Boviet drees report« | sirvidý mesking) ed that the quantity of Verein 20 miles – back delivered from the region, toj
thelo gove
of
On Monday the market rated Sterling 3.7105 988 ahead with the railroads setting
23,720,614 the pace.
537871-301 272,814,(29
30 671411 00343,000
Bank Of France
Statement
Aendad Jari,
to a
an American group of
MeanwhilYould-be buyers, caused a
fall in the price of the A22
running into trouble. The stiffen shares, but winch of the ing of short-term money rates low was later regained After produced by the previous week' dipping 20s to 82 dd the shares Treasury 601 tended. brought railed sharply, lo 95 84, a met prices tiembling down. War loss, of de 21 on the day of the The Monday advance albozown lout 328 6d in two days, announcement. Later, they, rose was helped along by the #jogja,” in Ther, fall was checiced on to 103 9d. But tonewed wealt Faits moles alorants, chanicals Wednesday bin by then other home on Friday brought them ||arick" special" Jester
markets, had a begui; to take back to 102s. 6d. plate 324-10
what was happening OILS IN DEMAND notice of Later in the week to rails and mastrias turned fenders |roceived several setbacks and no
did the standing Siridontalitlabel. No one, it would.
pected the authoritie „There were recover tron Chace Bank, relajan the lows from time to time and (usual, day; for noti
nied (at: [changes), biak, never In the It became known
Intervslage
overe, again in, de-
with. Inters
the