Page
Gulf of
Wha
HONDURAS TEGUCIGALPA
VADOR
FRAC NICARAGUA
EL GOtonook:
Prafic Ocean A
CENTRAL AMERICAN
POLITICAL DISORDERS, CAUSING FATALITIES
SINCE 1948
ZOTO 2
OVER 6
3 TO 6
SCORECARD FOR
JANUARY 1955
Plotters thwarted in attempt
to overthrow new Costillo Armos
Tegime.
Nicaragua charged with sup. plying rebala in nearby Costa
Rica
Jose Figueres successfully puts
down full-scale revolt.
President Remon assassinated; successor Impeached ox plot member.
Callhan Sco
OUTSADA CANAC
PANAMA
ZONE
COLOMBIA
Mites
AP Newsfeatures
Trouble
Is There More
Ahead For
The
Central American States?
By DAVID L. BOWEN
Associated Press Newsfeatures Writer
Concentrated in three weeks and popping on a line only 600 miles long, recent Latin fireworks made it seem that Central America was undergoing a major upheaval.
It
But it was coincidence, not collaboration, that brought History has Central America so much trouble in so little time. earmarked these six small nations for political turbulence. was only accidental that three of them were afflicted with recurrences of their old disease at almost the same time.
Guatemala, El Salvador, Hon- duras. Ne agua and Costa Nien
info beungg
1/24
Th
group.
Thus the US. always is con- In the meantime, about all th
verned when troubly breaks oul United States can hop Ever
was dramatically The absence us separate
of any Communist This interest
The Red danger shown when the committee of the government Tations in that early 19th century
lucking in the buck-Organisation of American States sitering the perval between the is always decline of Spanish posve in the
grunt.
by investigating the January wolt demaustrated
in Colo Rick recommended Corblan
evenly in Guatemala prior and the rise of the
Costa Rican armed forces be Costilly Ama' Unated Su
influence
ceni. successful Castilie managed to
rid the strengthened. The United States country of Reds, but has not had immediately sold President Jose Mustang fighter Figueres &er Dis faj smoth sailing with his
The planes $1 the tr of liberal reform.
price* reliably re- ham- no ported as U.S. fet a plot to destroy
$1 piece. doubt either be pred
through operation contraged by the Communists like this that the United States was discovered only two weeks age shows the Reds' tenacity,
rary
Fixth Panama, WIN carved from
M
Columbia half century when
for arrangements Panama Canal sex mande.
From The start they had a based on "plantatum rernunty" coffer and bananas With lay -exception of Costa Rica, where 11111 the inquering Spaniards
so much of the Indian populație that the compares thengelves harl to cultivate the fund, the Central American structure is simple Gaels of kind hvid by a few
.
of thv
untherise
W
Panama Cita). artery must be Russi's
ሇ ዴት መ
hopes to assist in
creation
of political stability in Centrad Amerien. And aliwnych
the the
A
is a long
off, way picture is no entirely black. recenl
Honduras LYONL 1/1 Hllustrates the point.
111
prize,
all
to
the
THE CHINA MAIL, TUESDAY, FEBRUARY 8, 1955.
TRADE and
COMMERCE SECTION
Page
AMERICAN ECONOMY NEW YORK
Situation
Far Eastern
Forces Steel Buyers
To Cover Future Needs
By JOHN MORKA
New York, Feb. 7. Steel-bellwether of the U.S. economy-showed more firmness last week than in months.
RUBBER & TIN} EXPORTS
Singapore, Feb. 7. Exports of rubber from Malaya to foreign countries durlig January this year totallod 76,480 tonn, abcord- ing to official statistics published bere.
The December exporte were 70,873 ELE,
Tin exports for the aluse period from Singapore and the Federation of Malaya amounted to 5,745 tons. December's figure was 4,974 tons.--France-Preme,
And appliance HONGKONG
The booming auto industry-biggest steel users showed no signs of a let-up. Construction continues at record levels. manufacturers are coming back into the market for new supplies as sales continue to move upward.
MONTA
The Far Eastern CTISIA OYLT Formora hus helped make steel buyers
anxlos about for. fubue covering
require- All this has meant more ments basitices for the industry.
But last week, further strength azid thustratess Іничите more
nclerable and from un unicor pveled source.
Pure and
here, and sun is, although to | notod-es compared
thirds m 1053. an increasingly minor degree.
has
U.S.S.R.
with two-
In the nine months
U.3. export business usually
Less than 40 per cent of the amounts to about 3 to 3 per cent of total shipments by the steel 1954 growth in gold holdings from the. U.S. trukusiny. Estimates placing this
was purchased year's export at 2,000,000 and more than half reflected at- cruals from new gold produc- are now being revised upwani
tion. The Fost Du atout 3,000,000 tons.
apparently resulted from purchases trong the 118 unexpected trend sore wynege is
helped revise
the thinking of ending in September, continental being sought in American allis some dustry leaders, Herato-
Reel-hungry
Europe.or
tones Torecasts were generally
Western Europe showed a 1.007 million rise in reserves of gold With Western Europe eating and predientex!
and dollars; the sterling area, a living better, oversees mills have basis.
302 million rise. to keep up with the heavy demand in U.S. mitis by supplement the already strung Euroopan produkter. Demand appears heaviest Bnished steel but there are lots of business dom for
finished proches as well
been unable
WANT U.S. SCRAP
semi-
And European scouts are re- portedly canvassing U.S. yards for scrap to keep their furnaces burning.
Only a few short months ago, Europe was
A seller
味
two-month
more
talk
Now there's that business will stay high for at least six months.
MOTORS EXPERIENCE
CANADIAN RESERVEE
|
STOCK EXCHANGE
STOCK
MARKET
Now York, Feb. 7.
Stocks were strong and active. under the aircraft leadership todby, and finished firm despite a late reaction touched off by dividend disappointment for Lockheed and United Air- craft.
Wher directors of the two aircraft manufacturing firma falled to increasĆ dividends, traders sold the stocka, Lock- heed closing 3 points lower and United Aircraft down more than two.
This brought modest realising elsewhere in the list but the balance, nevertheless, was to the upaide with 00 stocks higher and only 409 lower out of a total 1,247 traded,
three
of
D
Tho average showed small Bosses for Industriale and rails although these reflected somo dividend adjustments, without which industrials would have set a new all-time high, [From Our Correspondant) Ualities missed by
ecats--the exact amount Business done on the Hong-their ex-dividends---setting Ing amounted kong Stock Exchange this morn-high since 1931.
to $1,103,592.70. quotations and the morning's transactions: BUĄRES BUYERS SELLERS BALES BANKS
HK Bank. 2100 3100 33 2140 INSURANCES
Unston
030
22 no 130
Noon
Loiraro
NO 485
Underwriters 100
DOCKS, ETC.
K. Wharf.. Duck
Provideni
(Old) Wheelock
500 1.16 1500 # 1.20
F000 15.20
10,40 740
600
103
д
LAND, ETC.
MK Notei
10. 13.20
300 g 15.
400 0 10.
.
do 01, 200 0714 2100
00
244.80
2.0215
2110 21:30
American cotton growers con- week for the annual meeting of vened in Houston, Texas, this the National Colton Council to hear the Suretary of Agricul- ture, Mr Ezra T. Benson, prediet
Canadian reserves rose by 120 and Latin America Au an ication of Europe's milion, crumble for U.S.
mere 37 million while steel, the gained a Wall Street
suffered Jounal elted the non-sterling Asia
loxs of 150 million experience of William H. Muller reserve dollars. and Co. of New York, suppliers of part of General Motors and Ford Motors European needs.
This them has already bright 60,000 tons of slabs from the American Midwest and Canada and obtined an option on 30,000 steel | inore. The Orm
rm are agents for
30 per cent rise in U.S. cot- u big Dulch mitil ut 1Jmuiden
tom exports this year. He cited supplying the European needs of
expected
ot carryover two
American tuto makers. | 9,81
9,800,000 bales MA The U.S. dealers in scrap for the urgency of a boost in ex- It added, have been commission port sales. Meanwhile textile ed to supply all the
uf and mills
and growers were split on the Germany, France.
Belgium question of two-piece
cotton Italy, Holland, Luxymourg and whereby U.S. cotton would be the Sour, Members of the mo
more competitive In world European Coul and Steel Com-
M | markets with Government sup- munity, these countries imported ports. the almost no scrup up to tast June. weck, tic Wall Street Journal noted, it expected to In quiet dealings, prices sidhuy 1,850,000 tons. back irregularly lo losses of 05 cents a
bale.
World Cotton
Markets
New York, Feb. 7. Cottm futures started new week with prices on defensive side.
the
the This
Finishing on the day's lows the lat shows now losses of 8 to 12 points. Opening prices were
ELSEWHERE
Elsewhere in brief;
Stock prices conflaued strong
an
summe
measure
ICAGO
The Journal of Commerce re- ported
vi optimism,
however, among in- dustry leaders, many of whom are concerned over the rising competition of cution from new Abrea Mention Was made of the
progress by the Pima Asso-
unchanged to oft 0 points. New this week as demand continued Antion, which hopes to make
Orleans closed off 6 to 11 points lower.
Accumulated Interest was held
some
In that entry last December The mom the United States
at hulecisive election resulted cant afford
to permit Com-
a congress divided among for gain a foothold in
of which three wwners and worked by Central Anrien is obvrass the
parties, none -stricken peasants W DO
The use of this could muster though votes make up most of the rest of the
unitsrupter; give its man the presidency. With contestants presidential must not be three TRS size, of is allowed within striking distance ingredients for a power grab by Because Spanish compotæni, Cvéta Rica | of a.
1s CU}×1
force of arms were present. But ballt box was This, however, is not the only the advanced faster
not repudiated and the country re bours, boasts a high Bracy reason Central Amenra is Tile Limi a large proportim at¦ portant,
mained Historically, the six
whlio Vide DL peace republics have been a barometer President its populate DOSSENBAN vivie
VI U.S. relations with all of Latin America. If we are 1973 good terms with them, usually we nie also enjoying the friend- ship of the rest of the 20 nations south of the border.
for the new crop. to the so close
awareness
Cate and hos than its neigh-
The other countries are not so fortunatle. The #teracy rate outside Costa Rica is a meagTE 20 to 30
per cent.
Knowing only a bitter struggle for survival and following the habits
peasant culture venturies old, the common people
cannot Intelligently
in their government.
participate
Thus urise
struggles for the prize of power
the rival cliques of the
2nd class
accompanying map shows the historical result: since 1948 Central America has
political
had 22 disorders- separate maging from full fledged revolts. → like the one in Guatemala lest summer and in Costa Rica last month, down the scale to single killings a 13489sinations like that of President Jose Antoniu Remon in Panama.
Julko Lozano Dlaz assumed presidential powers.
ព
If a Central American country can come out of such a tight election without bloodshed, there is reason to hope
conditions are Improving.
Loss Of Japan
More Serious Than Formosa
Washington, Feb. 7.
Mr Charles Taft, President of the Committee for a National Trade Policy, a private group sup- porting more liberal trade, told Congressmen to- day that if Japan was forced to trade with the Com- munists, then the non-Communist world would
Guatemala has had by far the have lost "an outpost more important than For
most trouble in this period, with 11 outbreaks of fatal violence. Costa Rica follows with six, and Pontima next with three.
term).
EI
mosa."
heavy for the so-called "wALT
which
Arm
to
cum-
IIK Land
Humphreya Really UTILITIES
Trem
MOK UP
Trading picked up on the ade vance and turnover of 3,610,000 shares Wan heaviest January 20, compared 3,370,000 shares on Friday.
since
with
Another Item of dividend disappointment came after the close when General Motors
declared
the only directors usual payment, The stock closed here at $102, up %, but Bold down to 390 in coast. zur- kets.
G. M. directors also set a
price of $75 for the now stock to be sold to shareholders on 750 20.70 the basis of one new share for
each 20 held. 21.20
Star Ferry Y'inati Forty
100 104
178
100 179
100 180
Many of the
aircrafts held good gains despite the late sell- ing.
Motels were among the stronger performers.
Steels, too, were good most of the session.
Rails generally were narrow-
C. Light (0) 17.40 175 500 e 17.00 10917210
moving. 1:200 1714 600 13,40
Activity centred in the low- 1000 17.50 priced Electric and Musical In- C. Light (N) 14.30 14.00 3331440 dustries which rose point to
372 30 100 or 374.
4%.
Black 1000 6 373
Curtis-Wrighet, ats 500 g 374 ranging to 20,000 shares, fol-
314 towed.
Electric
Mooto
Elec.
12.60
Telephon
.. 3244 3342
STORES, ETC.
Danbi
15 $37
4231
600 @ 3215
..... 3240 200 @ 24.00
Dairy (New)
Watson
146
14
1. Crawford
2016
COTTONS
0.00
5.90
4.75 -4.35
American long staple babies-sues linked with de
non-favoured INDUSTRIALS lenee production, Bul competitive with the
Mr Egyptian Karnak,
Cement Percy the spurbod in abeyance as traders watched | modities,
the Howe, Jr.
President of the heels of the news from Formosa and previous week un
American Thread Co., said his Far East tension awnitet
new Incentives the mounting over Fermosa
planned
tentatively 10 showed froth Washington
farm over on
signs
DI switch
American grown legislation dealing with
last week.
Buying was price casing last
Pima in August when current to be generally confined to supplies of Egyptian Karnak are supports und acreage controls said to be
covering nominal forward rc-
exhausted, the Journal of Com- Tess notice- An outstanding trade was the quirements. There is less
merce saidl, sale of around 10,000 bales in able scare buying also.
Gold the March delivery, credited to
and dollar holdings REFUNDING OPERATION California co-operatives, against continued to increase in 1954, purchases of the current
Financial crop. but at
moderate rate
elroles here more July delivery.
than in 1953, according to a study more than casually interested ant
open by the Federal Reserve Bank in the latest refunding operation Interests in the Exchange today of New York. At the year end, involving $15,000,000,000 by the hoddings totalled 25.0 U.S. Treasury Wall Streeters Vatume Open interest | billion dollars.
Jatt-st An increase of regard the
Treasury 1.8 billion for the year. The financing as less fearful than had totalled 2.0|been anticipated by some in the
financial district.
Trading volumes
such
a
ware:
Month
Mor.
33,300
047,000
May
20,000
1.179,700
July
12,400
680,200
od.
11.100
131,200
Deg
2,000
billion.
goin during
70,100
Mar
2,000
May
400
July
1,000
Từ 300
1,000 2,000
Total
87,000
2,000,000
NEW YORK
while the
1053
ware
There was some fear that the
Textiles MISCELLANEOUS
Yangleze
Allied
Singapore
Stock Market
Singapore, Feb. 7. Brokers today quoted to fal- entire $15,000,000,000 would be lowing stock prices, offered on long terms.
The 1954 rise in foreign gold and dollar holdings was largely confined to continental Western'
Tob. Tab. 8 Europe, the sterling area and
Closing Opening Canada, Latin America failed
Brilish Borneo Petro- Prices of futures closed today to add to its dollar
Issuance of the 40-year 3 per Jeum Syndicate... 33/04 33/4 holdings, cent bond at this time was scen Conseildated Th as follows:
non-stling nations in come circles as evidence that Fraser and Neave Ltd...
Emeilers, Ordinary 20/34 29/30 of Asia suffered a moderate less. the Treasury пож considers
$2.03 Almost half of the rise was in the business recovery has gone
form of gold, the Bank
$0.50 $0.00 to make room in high enough the investment market for some competitivo long-term Treasury and business borrowing.
Ordinary issue
Fraser and Neave Lid..
75% cum, pref Hongkong & Shanghal Bank Corporati [Colonial Register} Malayan Brewerien .. Haries Intel
New York Sugar Although the amount involved Bingapore Cold
Spol
Mar
May
35.901 34.47 34.79-80
July
15.01-06
the
Oct.
35.30
Dec.
33.10
Mor
May
35.01
July
35.42
NEW OREANB Prices of futures closed today as follows:
34.20
MAY
July
Det
39.07 53.17.
Doo.
Mar.
May
July
23.01 30.500
Market
7
South Brilish Insurance Straits Trading
Straits Sternship
The New York Stock Ex- change
volume bond
$3,400,000.
was
The American Stock Exchange volume was 1,470,000 shares, DOW-JONES AVERAGES
Dow Jones closing averages on Wall Street today were as follows:-
30 industriais
20 malis 1+2*
15 utilities
55 stock
40 bonds
0059
143,59
$2.99
160.61
100.41
180.42
-United Press,
Comm, futura price Index
World Rubber
Markets
London, Feb. 7.
The rubber market was barely steady, No. 1 Ras spot were par ib Prices: quoted at 2014 pence
No. 1 Rasapot ENTE 20%-30 Settlement house team;
March...
April/June
July/Septetiber
October/December
General marketi, cif basis
February
March
$2.02
April
$3.73
Estate crepe thick
علية
AMSTERDAM
The market was dull. Prices
$1.11
4.06
$1.15. $4.00
$2.72
$1.90
. $1.08
$20.15 follows:
$10.30, $10.30
$14.00 $14.00 500 $2.00
8/31
closed today in guilders per kilogram,
CIF February as
No. 1 rubber'
No. 2 rubber
No. 3 rubber No. 1 crepe
281 buyere
2.90 þuyers
FLT buyers
3.02 buyerss
Lin
NEW YORK Fukres today closed changed to 25 pointe lower with soles of 129. contracts.
Spot market activity was að the slow side with No. 1 Res quoted it 30 cents a pound,
Future closings were;--
nominal, Exchange
London,
-an estimated $2,300,000 'is ex- pected to be taken up-Is sald to have a negligible effect on New York, Feb. 7.*
business at this time, it is pointed
United Engineari World No. 4 sugar futures out.
Ordinary issue closed today unchanged to one
However, the of 50
experts Wearne Brothers point higher. with sales
emphasise that ¡ contracts,
business could Hongkong Tin
Petaling Tin ........... become frightened just as much eurn-div. Cum-captial lasud. LIVERPOOL
Domcatie No. 6 sugar futures as stock market traders If the fwith div.
-China Mall Special, ON the Federal Cotton future closings, Amert-closed one lower to two points Government "A few days ago, the American middling, 10/10 Inch, in higher with sales of 62 contracts: Reserve, continues to apply Fondon Foreign
the brukes ori Mr Taft, brother of the late
credit. Accordingly. Both the world and domestic Honduras and Nicaragua have Ohio Republican Senale Leader, can Consese gave the Prest Penco per ib. were as follows:
Mar/Apr.
contracts ruled quiet in mixed this latest move by the Treasury May/June
29.34 had only one each in the six- testified before the House of dent, the power to go to war if
dealings between trade intercelsis sect as just another link in but more
than their Representatives Ways and necessary In order to protest July/Aug.
31.10
domestic raws the chain of credit tightening Oct/Nov,
Offerings of Formosa Dec. Jan. year span,
Means Committee, supporting our outpoler
light- 82.00 proved
and consisting that is going on in money share in the longer
Elsenhower's pro we are willing to risk our
Official values for spet cottons mainly of Philippines for, end- market.
New York Salvador has been remarkably President
Included:
Montreal What quict in recent years, escaping gramme to renew the Reciprocal national life to retain it.
12.23 us February arrival.
worries Amarterdam East African B, P. East African B. 8, G. 60 points up A total of 113 Cuban, mills to cut tariffs an Qian one of losing an island. If Indian and Pakistan 15 points up out of 181, were reported grind about in the business and market Brusade
a check on the stockholm five per
Including Americaning the All others cent each Japan goes over to the other
new
Future movement in crop. eri Mexicati, were unchanged.
momentum of the upward Wass; tarka wo will have lost an
closinger trade talka side
BAO PILO,
movement. Market analysts Zurich .... for Japan in outpbert morg
Important
Contract No. 4 (worldy
Othen were uni Colton futures closings, in March
3.18 feel that credit cannot be turned Forthosa,"
cruzeiros por kho were as fol May
2.18 on and off like ani automobile U.S. turo. This
Japanese leaders
3.16 with how romentum' readily. Some industry witnesses
relations
30.30 September opening trade Department
3.18 belleves, can come have argued that. Incronsed with the Communists. about only with on Improve- Japenese Imports might weaken Taft said He did not ment of economic conditions of destroy American Industries hellove some protesting Ameri The State Department goal is Administration supporters have
can industries would disappear. an effective U.S. contribution sald Japan must get markets in in the face of Japanese compet to establishment in oach of the the free world be turns to the tion. But even if they did the countries of a strong, wolfCommuniste. "reliant and durable économer, Thaga
plain fact is, it would be bar! one, they will mosh better Living Mr Taft mit in a prepared bolter the Tome ships, that to Joko
teslimony: standard" for all..
Japark
without a single political killing. with power
Trade Act for three more years, "But there are more
There is little reasonable hope alltional for read improvement in this Violent card until substantial year. This calls for
the to seek markola changes. take
In place Central American socled struc- the Western world,
Stato
the
་་
waya
than
kayo
J
30.50
In the United Stains, the avertige price of 16/10 middling cotton we 30 designated spot out [161% mharichtstewar Ballering i 19166) | (16,277% kuženi.
July
Wall St
Street
Parte
143192
July
roh
September
Drotmber
Margh
"The Eingapore rubber prjet 2345 | were not Promi
Spot (rents per h for Cuba) B.17 obtainable after av stop New York Foreign
Contract No.
This bond offering' lant 'ex-
2
0.02 pected to alphon off much 5.00 investment material from, the
market, but Wall Street's con cern ir over what will come pekt now that the hopper in Washingtoronls to be full of
Exchange
· New York,
Kuburan. Dutumes
Exchange
Rates