►
Page
TIME WILL
TEST
ATOMIC
KNOWLEDGE
San Francisco, Mar. 2. Only time, says Dr Glenn T. Seaborg of the University of California, who WAN awarded the Nohej Prize in 1951 for his discovery of plutonium. can show whether the new atomic
THE CHINA. MAIL,. THURSDAY, MARCH 3, 1955. ·
TRADE and COMMERCE
SECTION
NEW YORK ECONOMIC CRISIS IN TURKEY
STOCK
MARKET
New York, Mar. 2. Stocka pressed forward into further high ground knowledge being, and to be, today under the end of total
prove
gond or
gained by man will for the greater evil
Fittin
<*x-
There is a vast potential aren of penertime applications which Les not been, anul in fact cummol
he So be, fully assessed, plains Only when Wi more of that perspective which
usperioder ond
adenie afford, shall we be able to say with any assurance whether this how knowledge. on balatine, more greatly serves mankind and the forces for good than i serves evil,
quality issues.
Today's advance round $3,000,000,000
me to far this value c
brought
The
work in the all listed shares sarase on the eve of a Senge In- ико the prolonged vegation
k market ric
Blue
chup dust als lps ranging in 2% pommis
ht
P
Failure Of 1954 Grain Harvest Has
Aggravated Situation
Amerie Telephone $180 economic crisis
in Eastou
Kodak selling
mi 20: There were outrace th!! the
ex divand a $73%.
Sterl Bethlehem even bigger AWD,
เละ ! m coralig
Born at Ishpeming Menge, | grthopa on April 12, 1912, the son of average Sweetlah immigrant parents, Dr Seaborg has won the te of
alchemist of the atente
الات
יונתן
To ustrials gained 347 on my age to $417.18
Has had even blazer high. perceninge gain, climbing 247 $183.32, the best lev.) siner Apel H. 1930 truths with n At rise of 027 $ 48 were their best since April 15, 1931.
IN addition to having discoverest plutonism, the nw material of
he is credited alomke
་་་་ with Bun dienvery of Americlum 95, (mum 86. Berkelium 97, and Callforakom 98, a new elements, Ife has also verts ne of the leaders to devestopunend of the
working
in The at Bavenoty
the Praversaly
Oak of Chicago, ni Hule, Tennessee and Hanford, Washington.
atom bomb,
ut
California,
ATHLETIC ACTIVITIES
He has even found time le participate in such a totally unrelated seademic setivity as representing the Univer-
California Alty member of the board which regulates athletic petivities
on the Pacifle Coast. include
ឆក
Trading was at the beat pitre
weeks nearly
wilh
Two
furOver Totalling 3,370,000 shares, compared with 2,830,000 yesterday.
NEARLY ALL GROUPS
The advance took in virtually with particular every group, emphasis on the rails,
non-ferrous
ÍN. traded, 713
+
Ankara, Mar. 2.
The failure of the 1954 grain harvest has aggravated the which Turkey is passing, and has through presented her with the necessity of importing cereals for the first time since 1951.
According to usually well informed sources here, the Turkish Government has entered into negotiations with the United States for the delivery of some 500,000 tons of grain, including about 350,000 tons of bread wheat, from America. Without these imports, these sources say, Turkey's big towns would probably go short of bread this winter.
£50,000,000 fur goods delivered
Toprak, the
(over Government, dollars
is sterling) Kruin-buying organisation, beloved 4 hold stocks of t
World Rubber 500,000 tons of wheat, but this
Markets
Singapore, Mn, 2. Lower oversens advices en- uticl The couraged further heavy liquida. 1,237 isuuestion on the rubber market loday. only There were some trade sellers were higher,
with buyers reluctant towards the cluse.
Of total
293 lower.
These
Kaiser
university football,
one of the major problems
of educators in the
United
States, beesuse of its com- ruercialisation,
Discussing
ding the future
Unse potential
energy,
LIST
helped by stock stood out 1 the Mikk of 45m
Futures:
Ku suhbet per fl Mar 14.5
Apr
Aluminium
Issues
Talk split metals with 1/10 $78% k
May
03.034
quoted
No. 2 rubber per di No. 3
Mai
03-83
NO A
Spot rubber untukęci
Blanket mepe
1124
83-84 70-77
0815-8011
common, 7 points to $100
of
pence. atomic
the preferred.
that
Clond production figures and a
future helped
Dr Seaborg sald Uranium-235 and Uranium-233 bright
fuel in mobiles.
would
be usexi
TIS
experially designed nuclear Pennsylvan3
energy machines."
num-
**There are, however, a ber of very difficult problems to solve, largely engineering in nature. before this can take place
"I will be a good many years, therefore, before energy of this with com- type will compete Ibon sources of energy such as trill. Such machines must run at high temperatures in ortier that the energy can be extracted useful fouɔn and this means will be many problems Involving materials of construc tion, carrusion, and so forth.
materials of construc- The tion must be chuten from those whose
absorptlun Autron
# there
amall and this limits the cholce | To
uncommon
coolants Adequate found and method for
-
of the reaction must be assured, "It will also be necessary for the chemists and chemical glacers to develop procedures to purify the plutonium #nd uranium und also to repurify In order that these materials the unburned fuel may be used again.
Centrat
auto-
and New York featured in activity topper only by low-priced Graham Palgte
Big mover in the vils Amierada,
84 up
points
$220 z
The New York Suck Change bound $5,380,000,
volume
No 1 pe stepe
NEW YORK
Futures today closed 34 to US points higher with sales of 200 contracts.
Prices snapped back sharply after woak start: Overnight weakness In the London-
cables brought an wa.Singapore
to early accumulation of liquida-
But
acted pressure quickly and on a rush of cover-
shorta Ex-ing by speculative
the cents and day's trast
wus
The American Stock Exchange volume was 1,400,000 shares.
Dow Jones closing
were:
30 industrinia
2 rails
Albed Chodicals Allis Chrimer American Autoes
averuķes
rallied 1 market
the closed around levels.
However, factories and other CORNUDOTS mlinaed to practise
A murket. caution in the spot
Fales IW
included May one shert of 30% cents following eents. suber 417 10 morning!
at 29, 153 July
held sheets weet
K
LI
لان
64.88 30 cents after selling earlier ut
cemis Spot
usted
2 ויאיר
al
NA 30%
R:21
cents.
3040
311 30
2014
20 00h
LONDON
20,35-30,00
་
The market was very steady. No. Has spot were quoted at
171220 pence per ib.
15
05 tersk
de bonda
substaners. be MUSL
control
Cosium, future petes index
238.83 were
Fulares:
YESTERDAY'S PRICES
Manreh
Allan inc. Acy
62214
May
July
79
Sept.
2014
Dee
Ameriena Melal
39
Mor
American SnelUng
40%
Americom Tel & Te
100
Amerlar Tubucco
00
Anaconda Cooper
5416x
Armco Steel
Armour
154
Botwin-Lima-Halton
Baltimore & Oblo
Bendix Aviation Corp.
110
No. 1 at Ro
Benguel Cons
Settlement Hou
Bethlehem Sicci
April
Bocing Airplane
03
May
Canadian Pacific Railway
2
June
Caso (J. 1.) Co.
12
April/June
Chane National Bank
00
July Sept.
Det/Dec.
of
4044 40EN
March
April
Consolidated Edison
40
May
Continental Steel
Estate crepe
jok
to
Corn Products
Estate Crepe thin
2031 251
Cuban American Sugar Curtis Wright
AMSTERDAM
223àx
1724
51%
LIMITING FACTOR "Probably the most dim- cult problem. which may well be the limiting factor in determining the extent to Win which nuclear energy
be used for industrial power, is that of disposal of the wemendous quan
radioactive waste material. "It is too goon to be able
say whether nuclear energy will be able to compete in cost with other forms of energy, such as coal. In order to be competitiva in this country, on the average, the cost will have to be of the
order of six to seven mile kilowatt hour of energy.
"There
have been
per
somo CA-
estimates by competent gineers that this will be possible, but, on the other hand, a num- ber
equally competent of engineers have expressed grove doubts.
"However, the present cost of electrical energy is greater somo areas, and in some places In the world the cost is much greater, so that nuclear energy will In any event be competitive
such situations.
In
in
"It should be emphasised that energy will be important of the eventual out- coma of the cost situation be- causo of its concentrated form and hence I possibility doing things that no other form
of
of energy can do nt any price."
Dr Seaborg said that the
Chile Copper
Chrysler Motom
Commeraal Credi
Coinmonwealth Elec.
Crane Co.
Dupont de Nemours Postman Kodak
General Electris General Fooda General Motora Glatte Balety Razor Goodrich (B. F.) Co. Goodyear Tire & Rubber Homatake Mining Co. International Business
Machines International Harvester International Nickel International Paper International Tel & Tel Johm-Manville Co. Renocolt Copper Lockheed Aircraft
Leows Incorp..... Kens Star Cement Co. Minnesota Mining.... Hortzmary Word Notional Cash Register, ""A^ National Distillers Nations Lead
New York Cerital osli Esevatorni
Paola Ga & Flectric Pacific Western Oll Pan American Airways Paramount Pictures Philips Pétrolesien Pinburgh Pinto Glass Radio. Corporation Ten MotoMa
Republle Steel Shell Ou Co. Binclair Di
Bocony · Vacuum
second major peaceful' appllen- | Southern," "Tiitway
tion of atorgie energy, would be Standart Brance
(Com)
the use of the by-product radio-thens Oll of California
neilve Bubstances
involving
Blanganj Dil of Indiang
נותנין
ער
72
19
431
over the past two years, and some comtries are prcasing for
Turkey's Inability to settle her debts is discouraging some from gronting her credits for imports of essential capital goods.
is mostly hard wheat, sultable | payment, for making macaroni and other
for PANION,
making fait not brend.
The Government has ordered | countries the proportion of hunt wheat to be mixed with soft wheat in brend-making 1 x intereste l from 20 per cent to 30 per cent, This is beginning to be re- of the flected in the quality breud.
03
STERLING FIRMING
London, Mar. 2.
Sterling WAN showing
firmness
nhend of
sterling Arda
Fold
tho and
dollar reserve figures to be issued this afterncon
In Zurich transferable rose to 2.753; after opening 2.701.
пр
while in London
on New York moved 2.76-27/32. Both
ما
marked new praks In the Oraing
Kinco movement last Thursday.-China Mail Special.
World Cotton
Markets
HONGKONG British Gold
STOCK And Dollar EXCHANGE Reserves Drop
(From Our Correspondent)
the Hong-
Business done on kong Stock Exchange
morning amounted Noon
to $913, 184. quotations and the morning's transactions: MARES DUYERS SELLERS SALES GOVT. LOANS
35 (15)
12 000 2
BANKS
East Asia XD 202
250
50
4NSURANCES
Unti
Lombard
Underwiderk
DOCKS. ATO
K What Duck
*
194 TU
Provident ende pa ng
Wheelock LAND RU
HK Intel
HK JO
Really
Tron
New York, Mar. 2. Cotton futures today staged a post-opening rally after Tuesday's drop to an UTILEDS eight-month low, then ran Inte renewed opposition,
March
phus liquidation. further selling
10 Predited Memphis interests and scale- up hedge
pelling acted as drag when prices scored galos up to 60 cents a bale,
Dealers saki buyer wariness about following the upswings continued to reflect discourage- the alow textile ir
M
1 2002 SN 5000 m 7 to
1440 15 CM CG 67
7
London, Mar. 2.
An-
The Treasury
todny' nounced that Britain's gold and dollar reserves
feli by $82 muilon during February and #tood at $2,081 million February 20
During
זנת
the de-
the month sikl
the United from States tumounted to $15 million.
WLS
The sum of $8 million received in gold or dollars from the European Payments Union for January.
Britain paid $2 million to the creditors
In
Kingdom had a surplus of £2 million with the SANI 20 M
European Payments Union..
of the Union bilateral settlements.
The United
113
2001 .. 891.
100 A 00
20+ y
100 10 017
400 64 07
400 m (By
21 10 3000 » 21
300 à 21
.10
100 10
230. 21
This must be settind in March, half in gold or dollars of and halt by the reduction debb to the Union-China Mail Special.
Singapore
Stock Market
Singapore, Mar. 3, Brokers today quoted the fol lowing stock prlees:
Star Ferry
XU
143
Yuunat
ForTy
行情
107 150 105
2031127
700 10
C# 1
.11
1737.20 4600
17 10
LIRTH AND 13 20 1390 Electric XD 341, 201
14
IGU
70
2700
33
Murao Elec. Telephone
12 40
30
300 30
700 a 30.
British Bornea Petroleum
Syndicate
DOU ut 30%
Covalentes
*I'm
Vinelters,
Ordinary
Cement X ALL.
23.00
500
23.00
25.00 Fraser and Newwe Lin, or
dinary ble 300
Opening
31/01
30/
a '1 da
1000
2070Fraser and Neave Ltd. 735%
pret
$0.00
21 00 23.10
200
21.70Elongkung & Shanghai Bank
300 21.00
Corporation (Colonit Re-
300 or 22.10
glatori
$470
500 22.2
Malayan Breworks
$3.95
30022.30
$ 2.70
#10
30 or 20
240
$23.20
300
20.40
$14.25
Ordina
Textile Cop Nanyang
6.30
$13.50
D'
23008
$2.00
$3.02
China Mail Special.
Ja STONES, ETC. Darry
Iour Years, Over the past Turkey has craser To make
and Imports
has Rruin доу become, on the contrary, one of the work's leading whout ex-(46 porters. The bad harvest is and exports to T655,700,000 Mr Robert F. Jackson, hard blow for Turkey's ex-
economy, panding since a large
proportion Government investiments. Rune into agriculture.
especially w
r
Vice
CURRENCY DWINDLING
Turkey's income of foreignment over currency to meet these press business plus the quietness
Cxport inquiries ing demands is dwindling.
and Washing- ber 134 trade figures show, ton
to INDUSTRIALS uncertainties relating to Grst eight months of Herage controls, price supports In the 1954 her imports amounted to
the disposal and
of Govern- £T904,500,000 ment-held farm total value of
Burpluses £113,062,500 sterling), world markets, (Lboul
£ 18,350,000 (about
sterling). Executivo
President, Imports with
of American Cotton Manufacturers compared
(aboul CT041,200,000
£117, Institute, Inc., has warned that has 650,000 sterling) and exports
Government plan for selling may of £T892,900,000 (about £80,-
Surplus raw cotton abroad at in the same U12,600 sterling)
prices below domestic levels period of 1953.
would force U.S. mills to use has made great efforts to restrict imports less cotton and more rayon and
And synthetic fibres, to "the barest essentials,
Dropping back irregularly, the has succeeded in cutting
the list closed act 3 lower 10 9 total by almost £40,000,000
points higher. Opening prices (about £5,099,000 sterling)
ware up 5 to oft i point. But the this eight-month period.
Lo up for nid defielt the eight months Orleans closed off
was stul CT348,800,000 (about points.
and Trading volumes cr over £43,600,000 sterim),
Interests in the Exchange today £T100,000,000 (about £12,500,-
were:
Volume Open Interest
FIRST DELIVERY Usually well-informed soLACEN say that Turkey has asked the first United Staics to rush delivery of 30,000 tons of bread wheat to Istanbul,
The Government
Month
25,000
149.00
4a,bou
J.110.300
1530.400
20 500
119.000 53.300
16,000 13,500
201,100 175.00 100,200
New
open
This first delivery would probably be paid for in dollars taken from the economic allocation of 70,000,000 dollars (about £25,400,000) for Turkey In the 1953-54 fiscal year.
The rest of the 500,000 tons 000 ateifing) more than in the would, there sources say. be Brst eight months of last year. March
The foreign exchange short- May under the procedure supplied
in reduced July laid down for the disposal of age has resulted
and Vet. American
Stokks
Diec. of surplus imports of raw materials
parts produce.
for Industrial Mar. This spure agricultural
makes possible de-machines. The Textile Workers May procedure
recently announced u!
po-Federation agricultural ducts in exchange for strategie that 2,000 textile workers
02 factories had been thrown materials. for foreign cur-
Prices of futures closed today rencies to be used at the dis out of work owing to a short-
as follows: Spot cretion
the United States age of Imported fibres. of
Turkey also owes about 40,- Mar. Government,
(about £13 May here 000,000 dollars
com- Oct. for 400,000) to foreign oll
panies for fuel oils and petrol. Dec. The companies are seeking Mar. tor pay May. July special arrangements ment, according to usually well informed sources here,
vivica
It has been that
suggested
Turkey might pay
de
of the grain with liveries of chrome oro,
and
July
Tutai
in
July
11.100
200
4,000
416,300
2.000300 bales
NEW YORK
COTTONS
MISCELLANEOUS
Yangis Allod
Rafes Hptet
300 22,10 Augapore Cold Storage
South British Insurance
20 20 Straits Trading
Steamship
Unded Engineer
sule
Waerns Brothers Hongkonx Th Peteling Tin
with div,
4.23
1000 4.2715
EVERETT
LINES
EVERETT ORIENT LINE
Fast regular freight
passenger
Philippines,
to
refrigerator service
Korea, Japan, Indo-Chinn, Slam, Malnya,
Rangoon, Calcutta and Chittagong.
"BRADEVERETT”
Mar. 0
from Singapore. Mar. G for Kobe & Yokohama,
"NOREVERETT"
34.75m
34.03
34.29-27
34.51
54.50
31.00
Arrives Sails
34.11
34.93
34.03
NEW ORLEANS Pricca of futures closed today ns follows: Spot Mic.
Arrives Sais
31.00
33,50 34,25-20
From the 1953 harvest, esti- mated at about 14,500,000 tons Toprak bought of all grains,
2,000,000
ton, almost
TWO GREAT ASSETS exported some 1,200,000 tons,
wheat. mostly
Foreign agri-
Turkey has two great assets May Turkey which she hopes will lead to July experts in
dim- Oct. crop at solution
of her present
Dec. Strategic Mar though culties: her great
value to the Western alliance, May and the
market July expanding
Prices:
26-291
cultural
241-23
estimate this year's
24-1-25 24"-24
about 10,000,000 tons,
omelat Turkish
estimates are
rather lower.
General innekets, elf barin, porta:
The market was
steady.
Prices 'closed today in guilders per kilogram, CIF March
follows:
No. 1 rubber
No. 2 rubber Nu, 3 rubber No. 1 crepe
for
of
Futures
5431-52 03.02
34.67-00
31.00
54.02
American
Mar/April May/June
DI-
July/Aug.
Oct/Nov. Dec/Jan.
Official values for spot
American
middling
middling SAO PAULO
10/10U 2.30
1-132nd 34.00
2414-20
LIVERPOOL 244-2424
It seems clear, however, that which she represents 2414-245
closings, 1954-05, Western European industries in middling, in pence per ib, were the crop year 24-241 Turkey will have no bread
search of export outlets.
to settle as follows: She hopes, Indeed, wheat for export, and will thus 241%-244
lose what has become, in recent the problem of her commercial
bilateral years, one of her main export arrears through commodities.
rangements similar to those re- West Gar- with cently made The rudimentary nature
for collecting many, her chief trading partner. nachinery statistics makes it impossible to The West German Government tons, include: gain a clear idea of the grain has agreed to guarantee credit American 8. mudding, 29.20
and some terms for German exports to Mexicon situation, however,
b forclen soureca in Ankara
Turkey up to a total amount of love that the Goverment may 150,000,000 dollars,
In roturg Futures closing, in cruzeiros of per kilo were as follows: be taking excessive precautions for guarantees of paymtal
Peasant farmers, theso Turkey's trading debt to Ger sources think, may be holding many. abnormally large stocks of grain The recent visit to Bonn of until they see what sort of Mr Aduan Menderes, the Tur
failed, harvest they can expect next idish Prime Minister, year. According to arst reports, however, to produce the more
for at ten designated spot, markets axrangements this seems unlikely.
favourablo
accord was unavailable. Sales at thete Observers hero recail that which he had, hoped,
centres totalled 10,404 bales aftering to informed sources here: Turkey imported grain
here United Press. the bad harvest of 1950, only
Many foreign traders
05
2.30 buyerh
United. Prom.
New York Sugar Market
New York, Mar. 2. World No. 4 sugar futures olosed today unchanged to 1 point higher with sales of 31
contracts.
Domestic No. 0 sugar futures closed unchanged to 2 points lower with sales of 250 con- tracts.
to find that the excellent hop believe that mo. United States vest of the following year made would grant increased aid to theng, imports, superfluous,
Mar. 18 from Manila, for Mar, 19
&
Singapore, . Penang, Rangoon Chittagong Calcutio.
(Accopung cargo for tranablyment Kobe/Okinawa), Kobe/Pusan
and
EVERETT STAR LINE
Fast regular freight - refrigerator service to Japan, Malaya, Colombo, Bombay, Karachi and Persian Gulf. (Subject to faducement for direct call Korey "STAR BETELGEUSE”
Arrives Salla
Mar, 17
from Japan,
Mar, 18 for Singapore, Port Swetten- ham, Madras, Colombo, KNOT- Bombay, Karachi, ramshahr, Boarah, Kuwalt & Bahrein.
"STAR ARCTURUS”
Arrives Mar. 19. from Singapore.
March
30.50
May July
20.70
20.40).
Oct.
30.40
Dee.
33,20
In
the United States, the average price of 15/16th middling
Salls
Turkey. If she wore frend with London Foreign
Sod
the
the throat of economie break- down, According to some. litical observers here, Turkish Government shares this oplafon.
American circles here
Exchange
Lork
Bro❘ Now, York
Amsterdam Montrent
Mar. 2.
9-1/10
ANOTHER BLOW Another blow to the Turkish Idmited activity in the world economy is the shortage of coal, la normally delimite in which Turkey
welf-sufficient.' She is 'now ex- contracts ensed pretext to import coul in large rotloent about such a possibility.
China Mail Special
contract lacked
20 featuro,
Domestic
0331
Ad
653; with the lower raw situation, qualities,
04) where a decline of two points
40 20.0.30 cents equalled the year's 70 low
.114
Stokin 7-Van Camp,
Buture closings; Coniquet. No, dicworld) 17 March
Shugabakar-Packard Corp.
40
July
Onion Parlie Railway (d.) S Unilai. Gas, Imp; dies
Dar 10. Lou
Us. CypmIJT
in rosearch | Dhandani Oll of Now, Jersey medicina and food. SERMS. CERTAIN “ER News, destala fuse the man will benefi from ila was for ião, produce. tion of power,” he explained. "Probably the greatest help will come from their application in medichkiharopy and dini
and dentai Mail Spedit.
research"--China Wo
per lb.
The shortage of grain Anti
con will aggravate sill further
the crisis caused by Turkey New York Foreign
acuto, shortage, of foreldo¢** chongo.
Turkey's economic dumeulitos arino from the fact that she must: "expodťa continuing foreign truda:"dantit "far" man genes during^a. perfich of": 5pm The present level of the cor
Shout: 100,000,000
Exchange
· Copenhagen Libon. Party Stockholm
West Mark
Zuricti
Dlberg, were
United
Mar. 20 for Kobo
Yokohama,
(LIMITED PASSENGER ACCOMMODATION) (Accepting, cargo for transhipment Kobe/Poss
and "Kobe/Okinawa)
EVERETT STEAMSHIP CORPORATION SỊA (Incorporated in, thỏ Republic of Pasana
with Limited Liability), Chinese Department: Telephone 28293. Queen's Building, Telephone 31206,
MESSAGERIES MARITIMES
PO! Box:59%
153 Queen
FAST PASSENGEK/FREIGHT SERVICE
Exchange Rates "VIETNAME
YGAMBODGE
-Businesi" was
done in the focal markei
FAST
Singapore (B)ralle) Indo-Chine
MEINAM"
(per 100
sailing Apr