RUSSIAN
ATTENTIONS
TOWARDS SPAIN
Police Watching Red Activities
Madrid, Feb. 23. The Spanish police aro watching vigilantly for any attempts by Soviet Russia again to develop clandes- tinc Communist activity here.
THE CHINA MAIE, THURSDAY, FEBRUARY 24, 1955.
TRADE and COMMERCE SECTION
Page
GATT WILL BE ATTACKED BRITAIN'S NEWEST
NEW YORK STOCK
MARKET
Following the arrest af Valen- ela rome weeks ago of 50 alleged Communista, who were said to have #tered into key industrial and defener plants Fod the rail-stock
ways and even
r^.
scitatife intu circles engaged in nuclear Rearch, the Spanish police have i her on the ofert
The Sonnish au borities
had turk
1 en expecting Russia to her of ion to Spain again fol- lowing the signature of the 1953 def pee and all agreements, ins suct renewed Communist meti- vity and been looked for rather In Madrid, Srellte, Cadiz, Sara- gosen, the places where United States defence plans are centred. Thurt in Valenti
וז
the
Appar le
police were impressed by the way in which
small group
Spaniards, some of whose members are said to have come from abroad, had key managed to pri trate inter sections of induiry and defence
the ami cenearth in
of ure: Valenclu
LITTLE ACTIVITY
Spanish
that Russia
sonsiderable
Communist "machine," in-
Fources
recall
sponsored
clandestine
forces, in 1944 until
H
been
cluding guerilla
Spain
from
1948, but since that Ame
has
there
nelivity.
Nevertheless,
here state
ilitie
commentators numerous
that the
the
New York, Feb. 23. Ruitrond shares, on
exchange pushed to further new high ground in almost 25 years today.
The
Cinins in the canders ranged.
than 2 points. more pushed the railroad average to its best level since April 25, 1930
up
Instalad states Cakeel Join an the rise. As measured: by the averages, they were only
Trw 11
cents. Aircrafts tuned strong on good earnings Uulites were begibetød,
Volume picked up slightly on
Sales the rise.
today tutalled 5,030,000 shares, compared with 8,010,000 shaxs on Mynday
Railroad haros generated strength when Southern Railway
Its January
#41 reported that meone was sharply above year ago. Other carriers also pre expected to show good results.
The market here was also bolstered by a shurp recovery the London exchange. Favourable earnings business forcearts wire another factor
PENNSYLVANIA LEAD
Pennsylvanda allroad lest the market in volume
with 108,700 shores changing hands. It ekord with
of a poin a n gain $27 Curtiss-Wright was in the 27,500 shares. The stock Jumped 1 points lo Increase SAA _
dividen
accond apot on
Spanish-language broadcasts and higher canings.
directed each
slay by
Soviet
>
A number of high-priced Russian transmitters to Spain shares displayed u considerable reveal, by the information givers amount of Brength. Houston Ull¦
WILA the bright spot here, registered a gain of 81 points to
news and in talks, that Moscow is extremely well in-
Spain.
It
Protectionist Senators
Against Ike's Foreign Trade Programme
Protectionist-minded
Washington, Feb. 23. Senators will make the General Agreement on Tariffs and Trade (GATT) a major theme in their attack against President Eisenhower's foreign trade programme, informed sources said today.
"Protectionists" will also continue their fight for an amendment to restrict imports of petroleum and fuel oil.
Thirdly, they will propose changes in the House bill which would have the practical effect of strengthening the United States Tariff Com- mission's role in tariff-making and abridgement of State Department powers in these matters.
TEACH THEM YOUNG
New York, Feb. 23. Singer Manufacturing Co. Leday Introduced a " xqual- b powered toy Newing machine
which it said in desigurd is teach youngsters basic sewing-United Press.
World Rubber
Markets
Singapore, Feb. 23. The rubber market improved
in-mciprocity
Another feature of the pending battle will be attempts to strengthen provisions of the bill to restrict farm imports when faron price support pro- granines are menɑcod.
which: agtterents ་་ས་ United States bar been negotiating since 1934.
UNITED STATES ACT
Malaya Loses $10m In Rubber
EXPORT IS-ASH
TO BE USED AS BUILDING MATERIAL
London, Feb. 28. Ash the residue of coal burned in power stations and normally dumped at sen or used to fill up old coal mines and level land — has become Britain's newest and strangest export, the past four
Kuala Lumpur, Feb. 23.
Malaya loss moto than M$10,000,000 in rubber deals over
days, a Malayan rubber spokesman satd today.
41
The people to blame," the spokesman said, "aro speculators
In Singapore
who upset the market and eansed the price of rubber
tumble
to
mako The
to
The Best shipment of 1,430 be making big money for tho tons is being sent from Lättle- taxpayer-all because building brook,
Dartford, power station experts fell back on en old iden. w Aden where it will partially
VOLCANIO ASU replace cement in the construe» They remembered that before
on of a new harbour,
the days of cement volennio nah The British Electricity was used for building material. ruish the mad
Authority are
Colosseum In Rome was burily searching | The for many by playing
Its ald, and power- uvernens mar-bult with thoney
ks for the ash-2.000.000 tuns market the speculators
house ish is the closest thing overlooked the interests of
of which Edlunped from all in it. maller dealers who could
power stations enel year,
Arendy it is being used on n nol
And fast enough
whad recover
see jurt a large scale In America, and it is from rapid changes in the
nuisance to get rid of wil san jbeing experimented with in this rubber market.”
-county. A factory la being Kubirer
bilt in prices
Glasgow to process it falling sharply JAK1
into building material.
began
week.
Merchants In Singapore
were selling,
It was said, to smash an attempt Penang millionaire rubber tycoon Mr Reah Joo Sians. who had earlier made a soothing sitnek OM Rome Singapore Chinese st
political meeting.
The price of rabber an the Singapore market rose lightly this morning, how- ever.-United Press,
World Cotton
Markets
&
New York, Feb. 28. Cotton futures today gave | ground gradually after higher opening.
Initial gains up to 30 cents a whittled were gradually down nud converted into small met losBES,
New crop deliverica showed relative casinose on the setback, with the list
closing up 5 on March and 2 to 9 points lower on the later positions
Opening prices were unchanged to up 6 points. New Orleans closed up 3 to of 0 points.
In the United States Trode Agreements Extension Act of The bill passed by the House
103), section 10 provided: "The does not change the status of United
States participation in nctment of this Aet shall not h
to determine or ATT but erities of the Pre be construed the di te
or dis- approval sidential
POZIOMUe wij al-
ad-approval by the Congress prospective lege that the Dinastia.iom programine would use executive agreement known General Agreement on Dive GATT a tariff-making as the authority
which use constitu- Trade and Tariff."
Although operative for prac-| fional prerogatives of the United
|tical purposes, GATT is regard- į States Congresa,
eri by the "protectklats" in WITHIN FRAMEWORK
the Senate Ra stili merely a provisional method whereby the Charges will be made also
Uned States representanteral tarift concessions.
United States negotiates multi- bake Bves in GATT considered arift
Attacks an th: constitution- within the GATT VOT JAMIOT Framework
awaiting ality of United States partielpa- without wat submission to tan in GATT would, therefore, nego iation
for the Congress of
a loglou revised organisa-
Sonate tional procedures for GÅTT.
In a tempting to delay or frustrate President Eisenhower in his
programme. foreign economic policy mes- The "protectionists" would at age to Congress on January least try to obtain promises that 10, 1955, said, "When the cur- CATT negotiations would not
ch, rogotkitions on the revision of the onganisational provisions of the General Agreement aro smtfuelcrily completed "ho results will be submitted to the Congress for its approval" Despite the prospect of a
From the Congressional stand-many-angled fight against Presl
dent Eisenhower's programme, point, the United
States status the best informed sources belleve in GATT has boen vague and, that he will ultimetely obtain controversial
1947. since
In
glidation in substantially the that year the United States desired form. Reasons for this
be
"prote
formed as to what goes on $110. Super.or 011 California, a wide moving stock, ran up 25 poln to $885.
the President's on better London advices today. Metal shures ran 17210 some Trade covering against accep- mild profit-taking.
a more optimistic crossing the frontlers Motor shares cased. Chemicals tone in market, and there was also some short covering and speculative buying.
They ndki that, with an of nearly 2,000,000
average Lourlate
of Spain each year now, it candid little.
no problem at all for Of the 1,201 issues traded.
Mo900w to move agents in und <11 of Spain.
$32 closed higher, 490 finished lower and 230 held unchanged.
The New York Stock Ex- volume Wils bond change
The spoed with which the student riots over Gibraltar in $4,282,000. 1954 changed from pro-Govern- American Stuck Exchange ment demonstrations to anti-volume was 1,260,000 shares. Government protests led some Dow-Jones Losing observers to suspect Communist on Wall Street today were as leadership.
But
12 right-wing groups forng the students were also interested in turning the de monstrations
against the Gov-
ernmeal. It was never exactly clear from which direction the organising influence In those came. China
riots
Special
Mall
Ships in the news
A
Gift For
The 61-Book
Captain
Before the Caronia, Bri- tain's top luxury cruising liner, sailed for her "Ameri- can season," her Master, Captain J. W. Caunce, re ceived a presentation.
For 95 years, Captain Counce a voluntary weather
has been
observer. He has completed 61 meteorological books,
Commander M. Cresswell weat
follows.
30 Industrinia
20 rails
15
hillies
stocks 40 bonds
412.48 40.58
€380
183.30
132.GE
tances
wan
Future closings were:
No rubber per ib MAT BU-DG)
Apr. May
No 2 ter per ib. Mai No 3 No 4
DATA-DE unquoted $13-05 04-6435 933-
Soot ber unbaled
0515-00
Blanket erepo
374-4
No
1 pale erepe
NEW YORK
Futures today
98914-100
New York, Feb. 23.
closed 110 to 130 points higher with sales of 233 contracts.
Erratic fluctuations
Comun. future price index YESTERDAY'S
PRICES Closing Prices Feb.
tho
70
Alden Inc. Acy Allied Chempionis At Chalmers American Airline American Metal American Smatting American Tel & Tel American Tobacco Anarında Copper Armco Steel Amour
Balwin-Lime-Hamilton Baltimore & Ohio
Bendix Aviation Corp.
Benguet Сола
Bethlohern Stoel
Boeing Airplane
Canadian Pacific Railway
Qua tạ. Ll Co.
Charo National Bank
Chile Copper Chrysler Motors Commercial Credi
Commonwealth Elec. Consolidated Ediron Continental Steel Crime Co. Cuban American Sugar Curtis Weight Dupont de Nemours Eastman Kodak General Electric
Corn Products
General Foods
General Motors
4
181%
marked
and
close
both the terminal market
reactionary London
but steadied ngain at the close on dealer buying.
In the spot market, sales of
700 around
to 800 tom
sales in- developed. Reported cluded one sheets at 33 cents down to 32 cents and later back to 33% with sellers over of the last price,
Three
tween
sheets were done be- cenia 32% and 32% four sheets at 34% to 82 cents, all May delivery, land-
ex busis. Spot No. 1 Rs were quoted nominally
a pound, Futures:
194
Mar.
May
BOL
July
in
Sept.
18%
Dec
Mar.
17:31
332
a conference countries at the
Liquidation in the March de precludo the poability of livery following the issuance future quota restrictions on im-] of delivery notices for 3,000 ports,
DESIRED FORM
opinion optimistic follows.
a
exort
bales, found textile rilis, ex- pervers and other tracte buyers moro reserved.
Weakness in grains and other outside commedity markets was emphasised by
the a drop in futures index to a new jow since early December, 1953 and acted to chill new buying interest.
Experts thought the March situation will continue to ari over-all markes influence If hard pressed on the eco-
eco- until the open position is cut Net open nomic aspects of the trade pro- down a little more,
President the
and March contracts at the start of Secretary of State cha always trading today totalled 116,500 bring very great influence to bales, a reduction of almost bear on the Sonate by stronger 90,000 bales during Monday's representations on behalf of the active session.
of the trade Importance
pro- Trading volumes and open interests In the Exchange tudny grammo to United States. Inter.
world were: national security and
Month
participated Int with 22 other
which attopied Geneva General Agreement
This inaugurated a period to gramme the earlier series of bilateral{Qu
HONGKONG
STOCK EXCHANGE
Stock
(From Our Correspondant)
Busincs done on the Hong kong
this Exchange morning
amounted to $444,702.20. Noon quotations and the morning's transactions: SHANES BUYERS SELLERS SALES
cenia
23.40
22.45
31.80
BANKS
HIC Bank
LONDON
The rubber market was firm. Prices closed today in pence per
Ib. as follows:
HK Bank
..... 1800
Cum All East Asla
INSURANCES
bo
It
May
Volume
117,400 81,000
Open Interest
137,500
1,179,900
46.000
114,200
20,400
259,400
11,500
150,700
7,500
6,700
104,300
3,000
200.309
2,754,000
NEW YORK
Prices of futures closed today
that as follows: would Spot
Mar
Secondly, the bill as
passed March the House was satisfactory to May the Prediam. If the Senate July
October the adopta amendments then.
December different Senate and House bills March. would go to a conference com
Now) July mition representing both chan Tolai (bales) bera to reconcile the differences. In this committee some adjust- ments
migenato alone
made action ut not necessarily be
final. for example, the Senate July should adopt an
all Amendment, it would later go to Dec. Tho conferees Маф would be aware that the Juty President has already announced himself as opposed to quota imitation of all imports by as follows. legislation,
conference.
restricth Oct.
Mar.
3143
34.70
34.94
38.00
mor
was
New York Sugar Market
New York, Feb. 23. World No, 4 sugar futures closed today unchanged to 2 points Bigher with sales of 83 contracts.
Domestie No. 6 sugar futures closed unchanged to 2 points (lower with trade for the world contract. Befner selling and tiquidation
weighed on the domestic contract. Futures. Contract No. 4 (world)
Mar
It substitute for coment midt.
half the in many 1", price. A BEA spokesann says: "We are hoping that fattories the nsh will be set 16 process up alongside the power stations.”
(London Express Service)
Singapore
Stock Market
Singapore, Fob. 24. Brokers Today quoted to [following stock pricest
J 170
Mims
4.18
Juiv
1)
Sept
Spol--Teents per tu fota
1)
317
Feb. 24
Contract No. 8
Opening
May
3.46b
Brush Borneo Petroleum
July
6.601
Syndicate
31780
Must.
3 Uzb
Consolidated
Tin mellets,
Now
Ordinary
30/91
Mor
4.376
Frakor
And Neave Lid..
Ordinary" Imun
$1.05
May
Spot-icente per il, cli
NY ex-duty)
3.4.20
5.40 -Vatted Press.
Fraser and Nerve Lld..
15% cum, pret
$6.00
tingkong & Shanghai Bank
Corporati
Register)
Milnynn Breweries
94.001
$1.07
'+
Haffen Hotel
Exchange Rates Store Cold Sternan
Briting Insurance Strait Tending.
Steamship
thin United Engineers Ordinary
Izvo
Business was done In the local rooficial exchange market 0.8. dollar morning at the following enter:--_ (per #1)
559 Weathe Bronces Sterling notos (par 21)
10.60 | IronRank Thi Indonesian rupiah
(per 1001 Stam ticals (ber 100)
20.00 Singapore (Strail) Indo-China pinetron (per 100) 9.17
EVER
BALL
-$3.602
1080 Petaling Tin
cum-div. Cum-capital logite * with div.
-China Mall Special.
LIN
LINES
EVERETT ORIENT LINE
Fast regular freight
service passenger Philippines,
Rangoon,
refrigerator -
Korea, to Indo-China, Siam, Calcutta and
"REBEVERETT"
Arrives Satta
Feb. 20 from Manila,
Fob, 27 for
Japán, Malaya, Chittagong-
Singapore,
Calcutta
Penang, &
Rangoon, Chittagong,
"BRADEVERETT"
Arrives Sail
Mar. 3. from Singapore. Mar, 3 for Kobe & Yokohama. (Accepting eargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
Fast regular freight refrigerator service to Japan. Malaya, Colombo, Bombay, Karachi and Persian Gulf.
1
(Subject to inducement for direct 'call: Korea) (-/
“LAO
Arrives
Feb, 27 from Japan,
Feb. 28 for Singapore, Port Bwet- tenham, Madras, Colombo, Bombay, Karachi, Boarah, Kuwait & Bahrein,
"STAR ARCTURUS”
10 100
6' 214
NEW ORLEANS Prices of futures closed today
Spot
.-
204
Gillette Safety Razor
Goodrich (B, F.) Co.
Goodyear Tire & Rubber
Homitake Mining Co.
No. Res pot
2016-281
Union
10 DES 100
}
International Busin
Machines
Settlement house termi
April
281-2814
Lombard Underwriters
D1 100
01
Conferees always give special May consideration to the possibility July of Presidential veto of unsatisfactory bill.
Mar.
3430
Salls
34.70
34.94
an Dec.
Oct.
Mar. May
37
May
International Nickel
June
Informational Paper
004
April/June
International Tel & Tel
2016
Tile/Sept.
John-Manville Co
Det./Dec.
Kennecott CopPET
1097
Lockheed Airerait
69
Leave Incorp.
Co.
6416 MAY
Minnesota Mining
Montgomery Ward
National Cash Regibier "A"
423
on board the Caronia in Liver-ternational Harvester
pool
bo hand a barograph 10 Captain Counce in recognition of this work.
Tankern are now sailing, from Britain full of ull, More than 5,000 tons of lubricating oil were loaded into the British Patrol for her maiden voyage from the Inle of Grain, Kent, to Middle East,
The oll came from a plant oponed up only a few months ngo.
tho
The British Patrol was
Im Star Cement
National Diatiskova
National Lend a
| New York Central
Otis Elevators ...
Gas & Electrio
Pacific Western Ol Pan American Airways Paramount Pictures Philipa Petroleum Pittsburgh File Glass
Radio Corporation Ten Motors Republie Biesi
inclair Off
faunched at Newcastle-upon- | Bust, Olt Co. Tyno in August. She will come home with a cargo of crude all from Kuwait,
"Priceless", carvings will be in the U.B. Line's cargo carrior American Harvester, when, she sails from London:
British cracumen have work- að :- for -- Biz - móntha on Dia carvings, which, came, here in Now the 23 párikla
Vecutin
Southern hallway (Com), Standard Branda
Bhandara Oll for California Slangar 0) of Indiana A Standert, Oli of How Serwéy Stokley Van Campi Gudsbaker-Paci
Bwin & Co.
Zozm. Co.
Union Pacino Railway
·Unlod Gas Imp OVORIM
JE
Maral merkeis, eit bisia,
2014 April
Pinta creba intek
271 Detate crane thin
AMSTERDAM
The rubber market was flem. Prices closed today in guilders per kilogram, CIF March as follows:
No. 1 rubber
No. 2 rubber No. I rübber -
No. 1 crepe
2.10 buyers
3.ta puyers 2.11 buyers *1ed buyer satīnasad. PreR:
New York Foreign Exchange
New Yorki Feb., 29,
SHIPPING
Waterboat .. 20.40
DOCKS, ETC.
GREATER POWER
Many observers thinle that it Is possible that the Senate might adopt sme provisions giving greater
to the Tari - power. Commission in escape clauses
K.
Provident (0) 10.3) 10.30
19 16.10 and flexible tariff cases.
Whoslock
*7.04
LAND, ETC.
HH Hotel
HK Land Really UTILITIES
B7 100 G
21 250 21.56
July
LIVERPOOL
Futures closings, American middling, 15/16 inch, in penco. per lb, were as follows:
Juy/Aus.
Mar/Apr.
May/June
Dot-/Nov.
Deo/Jan
Stich
32.00
But the practical results of
Oncial values for spot evitons such changes in terms of actual Include:
18/18th tarif increases would be slow American middling 10% 10.00 3000 @ 16.40 and aimendments of this kind Americas B. 1 middling 7/8th
29.00 would be regarded generally inch
Ian Mexican middling k-jzażna inch 34.44 form rather changes in
**** All diners were unchangod. dubstance.
SÃO PAULO that supporters of Aarning
Futures were unavailable to the President's programme will day because of a holiday.
the upper hard in the In the United States, the
the
protectionist average price of 15/10 middling presumably would pro cotton at 10. designated spot long the debate in an effort to marketa was 84.17 conts, Sales cut, tho, limo extension of at these centres totalled 23,887 the
argement's pros
The House, bales United Pre perlock was
Biar Ferry Ko
14:30 13:
C. Light (N) ·1840.
Mgono £48.10.2012.00 Telephone
INDUSTRIALS
Cement
· Rope
-J7M | STORES:
550
gain
Serato
trado
fronts June
threo FORT
18, 1956. The strongest opponents probably attempt to rejon the Lime to two years, in the bellet that the truda policy issue will
mobene Important In
political campaigns wild
London Foreign
Exchange
Arrives
Salls.
Mar. 18 from Singapore.
Mar. 15 for Kóbo & Yokohama, (LIMITED PASSENGER ACCOMMODATION) (Accepting cargo for transhipinent Kobe/Pusan and Kobe/Okinawa).
EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the. Kepublie of FanLSTER with Limited Liability) Chinose Department: Telephone 28293. Queon's Building, Telephone'", 31206.
MESSAGERIES
MARITIMES
PO Box 5511. Quem's BUI
KAST" PASSENGER/FREICHT:
WCAMBODGE”
RVICE
CHTĚÉE
ANADYR
Mar 28th