Fewer Escapes From N.Z. Prisons
Wellington, July 10,
The fact that the number of escapes from prisons in New Zealand in the past five years has decreased by 23. per cent is regarded here as proof of the value of liberalising prison соп ditions.
The number of escapes has glecreased in spite of the fact that the total number of pri- soners is slowly increasing.
The policy of the prisons administration is that a. reason- able degree of calculated risk should be taken to achieve the reforination of as many prison- ers as possible.
sontts
This policy is based on the belle! that it is better that a very small percentage of pri- should gain temporary freedom than that society should continually be burdened men unprepared and for release,
with unfilled
admini-
In fact, over the past dve . years fewer than three per cent of the prisoners have escaped. This percentage should be viewed in the light of the experience
of prison stration throughout
the world, which shows that prisoners will occasionally escape, even from Institutions where a maximum security guard is kept on them. SINCE 1948
-
The liberalising of prison conditions in New Zealand since criticised, 1948 has often been but only time can show whether a system is good or not, for results
only be assessed aver a period of years.
Prisons in New Zealand are 'classified In three categories-
(maximum security.
medium security, and minimum security Institutions. Prisoners are also
classified.
Over one-quarter of all pri- In the comers are
maximum security institutions, half are in
and the nedum security mainder in minimum security institutions.
rc-
Prisoner are first placed
under maximum
then, for those tenced
#
security and who are sen- 10 six months or more of imprisonment, there classification examination, and prisoners are placed in the in- stitution for which they seem best fitted.
they are kept under close observallon by officers who are trained and experienced in this works, and it frequently happens that men one category are moved froin to another on judgments based
After that.
on that observation,
If there appears to be a risk
involved, the prisoner is moved
be
11
to a place where he will under closer surveillance. less surveillance appears to be justifled, the prisoner is given that greater responsibility.
THE CHINA MAIL, MONDAY, JULY 11, 1955.
TRADE
and COMMERCE
SECTION
CITY'S PLEASANT SURPRISE London Market
Better
POWER PLANT|
Reserves In NEW YORK
STOCK
MARKET
· REVIEW
By Elmer Walzer
New York, July 10, General Motors Corpora- tion common stock gained $1,893,417,500 in valuation of its 92,894,500 outstanding shares in an irregularly higher market during the past week.
¿
The Company's directors pro- posed a three-for-ane split-up in the GM shures and their market immediately soared to the stratosphere.
The split was announced after the close on Tuesday, the first session of this holiday week. The stock promptly advanced on the Pacifle Coast exchanges.
The stock later rose to $128.50 a share. It met a bit of profil. inking later and closed the week at $124,03, a rise of $15 a share on the week,
The lure of a stock split was heightened by the GM action. Other
сх- companies were pected to follow the lead of the world's
automoblic Fargest muke.
Traders tried to select these split candidates. They centred their attention on Sears Roebuck which galbed 10% points on the week, more than 4 of them on Friday, and two oil shurts. Standards of California and
Position Than
Was First Anticipated
►
From Our Own Correspondent
London, July 10.
June gold and dollar figures came as a pleasant surprise to many people in the City. The net fall of $6 million in the reserves after taking account of the quarterly instalment on the 1942 Canadian loan and receipts from American aid and EPU-was less than had been expected in the month when sterling was under severe pressure.
This pressure on sterling which at one time reduced its value against the dollar, and Continental currencies to near "lower gold point" was the result, fist of the rail and dock strikes that occured in Britain in June and, secondly on per-
FOR KOREA
Maintains Boom
From Our Own Correspondent
London, June 10. The share boom resumed last week at something like its former pace. The number of to near the "bargains tmarked, daily crept up four new
Boston, July 10.
The flent of 25,000 kllowate stosm tur- blue-generators are now en route to Korea for in- stallation In neg powEL planta now under con< siruction, General Electrio Co., builders, Announced here today.
Although tho
100,000
kw total is small by US standards, it will supply more than half of South
Korca's commercial, resis dential and industrial elec- iclo power noods,
The war sharply cur- talled South Korea's power,
sources, ninety per cent of
been ita power having supplied from plants above the 38th parallel.
The new power unit was week loaded here this aboard the US Lines ship, Ploneer Bea.-United Press,
sistent rumours that the pound would be set "free" on August HONGKONG
1. In preparation for that event it was said that the British authorities would devalue the pound by 10 per cent to $2.50.
N.Y. COTTON
MARKET
REVIEW
By William T. Plunkett
New York, July 10.. Cotton futures New Jersey-which gained more irregularly higher within a than 8 points each.
narrow range in moderately active dealing last week.
denied mons
These rumours were Armly
in the House of Com by Sir
Edward Boyle, Economie Secretary to the Treasury. "Pinning" down rum- ours is extremely difficult, he said, "but I will say that there have been cerlain rumours of some about the possibility
can kind of devaluation; and I only categorically say that there is no such Intention."
an
con-
ble rather than a fixed rate of exchange with the dollar.
take
SCO-
STOCK EXCHANGE
(From Our Correspondent)
16,000 mark compared with the previous week's average of just over 12,000 as 'buyers returned for favourite blue chips" which have all along set the pace for the boom.
Prices have bounded in a market still short of stock on news that the dock strike had ended. June gold and dollar figures also helped. The recent pressure on sterling had led the market to expect a bigger loss of gold than was in fact the
case.
on I
With this and the boom
Rises among top shores in the Wall Street to encourage them industrial and oli markets were
in
until shillings London investors
pushed the measured
{Friday when the heavy over- industrial share prices up to yetnight
fall on Wall Street and another peak by Thursday's usual 'week-end profit-taking elose when the Financial Times enused prices to react-in some Industrial index reached 220.8, cases quite sharply. having gainer: five polnis on the week.
GILTS OVERSHADOWED ́.
Though stil overshadowed Demand Was again concen- by Industrial shares gil-edged trated on high clasy Industrial securities recaptured a litle of shares with growth possibilities. their former shine. Sales or Investors appear to be convinced Government glocks either that despite the recent setbacks actual or anticipated-by banks suffered by strikes and wage caught in the Government's Increases Dritain is on the verge credit squeeze which had of a new Industrial revolution caused prices to reach the And this explains the interest years low in the previous week Being taken in
in companies ex- are now believed to be ended. the Lected to beneilt directly or in- And with the belief that directly from gigantle develop market had at least touched ment projects now being plan- bottom came the heartening ned. From nuclear power to news that the dock strike was roadbullding their shares are over and the June gold Looming.
was less than had been feared. The Financial Times Govern- {ment securities' Index gained of 0,83 In the first four days the week, but the pace was not held and minus signs reappear- ed on Friday.
The reason for this decision It is fald is that Britain feels that there are still insufficient gold reserves in the world out- side America and that in these circumstances It will be neces sary to
the impact of Business done on the Hong-
SAME REASONING changes in the world's evalua-kong Stock Exchange this morn- tion of sterling-whether
ing amounted to $854,883. Noon
The same reasoning lies be sonal or speculative — on the quotations and the morning's
hind the strong advance of ol rate as well
the sterling transactions;
thores. But in this case there Bri- areas reserves.
SHARES DUYERS BÉLLERS BALE) is added Inducement that
lain's lagging coal Industry can-
Bl In other markets gold 14 1700 not keep pace with the ever in copper shares. turned better in
“half of the week. creasing demands for fuel Sathe second. more and more use is expected while rubber shares continued to be made of oil to keep the to advance strongly in active wheels of industry turning.
BANKS
HK Bank... 1700 1000
INSURANCES
Unlu 1000 Lambird
66 475 53
ANOTHER REASON
Another reason deduced from the British decision that a flexible exchange rate for sterling would discourage speculation against the pound. It is pointed SHIPPING out that a rate that is kept within
by narrow margins virtue of official intervention makes life easier for speculators by, insuring them against large and Josses if their gambles go sour,
Most other
The recovery that has taken place In the sterling exchange rate since then appears to have had little to do with this denial
that moved and rumours persist
important announcement cerning sterling will be made made soom. Though it is ex- tremely unlikely that this will take the form of an actual de- valution it is considered likely in informed quarters that the rate may be sterling-dollar given a greater degree of flexi bility. (At present it is allowed *They
to ductdate between $2.78 selling
$2.82. Intervention Nearby months held with
exchange market by tries, nearly wiped out the Wednos-narrow range under the influence foreign day rise. The latter amounting of evening-up operations in the the British authorities keeps the to $7.99 points was the widest old July position which ex-rate within these limits). since Sept. 5, 1930. The sub-pires on July 13. Very few July sequent loss of 7.18 points was transferable notices were issued the widest since March '14.
INDUSTRIALS HIGHER
Industrial Issues moved high- er most of the time and their Hverage reached an all-time high in the Wednesday session. came a day of heavy Thursday which
ол
At Friday's close the list ruled 5 points to 10 points higher-25 cents a bale lower to 50 cents higher-than the previous week's close..
SOME BASIS
in
the
FL 3"-
ABS-NEV DOCKS, ETC.
K. Waart... Dock
UTILITIES
Тедата
. . 453
74 7016
27 30 100
13.10 2500
15
8.59
EVERETTY
72 1100
*+ 2.32123744 10000
Star Ferry
0000
0000
24 24,40
000 to 24.30
150
Provident Wheclock.... LAND, ETC.
17 17.30 1th Hotel.. European coun-
HK Land 7124 however, declared in Humphrey... 18,20 favour of fixed ralcs of Realty exchange. To avoid a direct clash of views the Dutch pro- posed a compromise scheme at New York but some cireles These rumours would appear under which periodic payments
Aubstantial number to have some basis in fact, Dis- settlements believe
bolween West The one ing that worried
thewill be issued before the expira-cussions have been going in an European countries would take market men. was
organisation for Buropean place on a basis of "known" failure of mils to keep pace on date.
Economic Co-operation on tx-though not actually fixed rates with Industrials. Rolls
The more distant futures,ed and flexible exchange rates of exchange. The Bank of Eng- ground.
however, had a wider range in preparation for convertibility land would announce at
on prives
advances. of certain European currencies, beginning of each month limits At the close on Friday, the
primarily reflecting, short cover-And-it is belleved that Britain within which sterling would be industrial average stood
оп various Washington informed her European, part- | allowed fuctuate in that 461.18 up 7.30 points for the
these folks
that period. week but well below the all- rumours as to continuing highners during
price supports. Those rumours when sterling becomes con- time high set on Wednesday at
were encouraged by the recent vertible it will do so at a 467.41. The rail average closed the week át 157.05 öfr 3.77 vote of wheat farmers favour- Thus, the prison population points. Utilities were up 0.28 ing further allocations of acre-
i: 04.70.
This question of responsibility for the prisoner
the is the key to veformation. which consists largely of developing the qual ties of responsibilly and stabi- lity, Those men who want to make good are helped, to do so through being given the op- portunity to exercise will-power and self-control,
VARIOUS CLASSEŚ
falls Into various classes:
for Thore are those
whom reformation is not possible and who are held behind walls with practically no chance to escape; There are those under con- skont surveillance In prison quarters,
whom 10
circum- stances might bring an осса- sional fow minutes in which to make a breakout:
There are the men
working
in the open under perlodie mur- veillance, who might get from 30 minutes' to
and
There are a fow men work-
ing under a minimum of fur-
veillance, who could still have
ก
longer start if they decided
to run.
It is
impossible lo
whether a man
150
at
Market
expert Fald the business picture continued fav- ourable and could find little in the general news to harm the
market.
Second quarter and fest half year reports will
•
enn be trusted The Bank Of England
unless he is placed
on
trust.
02
Statement
BgC.
datly
The Government acreage re- Friday of 17,096,000 port on acres under cultivation as of July 1 was about in line with expectations and apparently had little effect on the markel.
CROP ACCOUNTS
acreage of about 11,250,000 boles
It was reported that this year's crop most likely won't be big enough to meet domestle and And thus might export' needs lead to a reduction in the coun try's cotton surplus.
Swedish Prefabs
ex-
In Australia
to
the
Y'mat! Ferr
200 g 24.20 1000 24.0
120 121 400
C. Light (C) 21.60
C. Light (N) 17.10 17.00 Electrie.. 41-42
Telephone INDUSTRIALS This compromise-was-design | Cemont ed to meet the British demand for
exchange a flexible
rate while at the same time ensur- ing that the rate remained fx- ed during any given settlement period.
NOT DIFFIQULT
It is not difficult to under- stand why the British
Ropo
STORES, ETC.
200
344, 344 4000
I
conditions.
LINES
EVERETT ORIENT LINE
Fast Regular Freight Refrigerator Passenger – Bervice- Loading for Singapore; Pepang. Rangoon, Cafeuita ang Chittagong.
*ORABEVERETT”.
"LENEVERETT
"REDEVERETT
"NOREVERETT”
“RENEVERETT"".
500 with
"NOREVERETT"
17.40
“BRADÉVEKETT"
"LENEVÉRETT"
Arr. July -- Aug. 1
17
Saila July 14 -- Aug.
-- Sept.
3 Sept. 20
6
Bails Attr
7
Sept.
- Sept.
15
Dairy, 22.00 23 2000 67 22.00 Watson
14 14.40 500 14 Crawford 3014
Textile Corp. 5.95 1500 Nanyang..... 2 110 1000 Hệ t
-Fept. -- Sept. 21
Loading for Robe, Oaks, Nagoys. Yokohama.
Arr. Aug.
AU -- Sept. 7 -- Sept. 14 LIMITED. PASSENGER ACCOMMODATION.
All the above róbject to altération without notice,
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STAR LINE
FAST REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Singapore, Port Bwottenham, Madras, Colombo, Bombay,, Karachi & Persian Gulf Fort.
"STAR DETELOEVSE"
Arr.. July 15
Aug. 15
Salis July 20
COTTONS
turned
4800
For to
MISCELLANEOUS
Vangiato... Allied.......
5.60
71000 7
25000.00
Singapore
in Sydney since the middle of and belief that the pound would Stock Market|
Singapore, July 11. Brokers today quoted the fol-
down the Dutch plan, soon be ap-
announce the range of fluctug- Lion
To In advance would be This figure compared with pearing. They are expected to
surrender the tactical advant- make th excellent showing 19,791,000 acres in cultivation on
Stockholm, July 10, ages of a flexible exchange rate with a prospect' some companies July 1 last year, and the 1944-53
No less than 1,250 Swedish and to expose sterling to just three hours' will boost dividends and there. average of 22,703,000 acres.
timber houses the sort of speculation that .elart if they 'elected to escape; by raise the yields on their
Crop accounts to date appear prefabricated
in Australia feared if the rate remains this have been erected stocks yields that are slowly to be about normal for declining to the level of bond period of the season. Some pri- during the past few years, states fixed.
Sundell,
Publicity given to the British yields-United Press.
vato estimators are anticipating in an interview Mr Akc
OEEC meeding final production on this year's Swedish businessman active attitude
the 1930s, In Brisbane alone depreciate in value against the there are 600 houses grouped in dollar if the exchange rate were neighbourhood which suides to be get free-chused many usually refer to as "the Swedish Continental operators to reduce
cwn"
when taking touriststhole working balances in Lon-lowing stock prices;
barest minimum. dor to the round sightseeing,
And of course the current -rail
their Balu Lintang Rubber Co. As raised tariffs and increas. and dock strikes with
threat
Lid. 10 estimates Tho
Britain's obvious
arned Petroleum added British Borned some 12,800,000 bales of cottoned local production now prac-
Syndicate tically bar imports of Swedlah balance of payments
to the inducement Consolidated Tin
Tin Bmellers will be rerumed.,Next year it
powerfully
Ord. ing to "get out of sterling." la expected that consumption timber houses, Mr Sundell has In buliding
Fraser & Neave Ltd. Ord. lately specialised Sterling
will increase even more,
LED TO BELIEVE
Fraser & Noare Lid. 7 1.795,706,315
concrete grain silos, of the type Washington developments
cum, pret of..................... 19,193,923
by the Swedish developed 310.07.000 turned out to be mainly an ex-
Sentab, contractors
Consequent pressure on steri- tongkong & Shanghai Bank- television
Ing. Corp, 11021.10 port problem and the question towers, water towers, etc. The ing led many people to belleve, Hangkong Tin Lid."
45.482.183 of subsidies. The growing be
that the Exchange Kempas Ltd. NAN Equalisation Account author! Lunas Rubber Estates Ltd. 2.10 tles were having to intervene Malayan Breweries ***** on a fairly large scale in the New Berandah Rubber Co. foreign exchange market fo Petaling Tin Edi provent the pound falling bo- | names Holst
Prison officers must rely their judgment, and occasional- ly that Judgment is proved
wrong.
London, July 10, The Bank of England state- ment for the wook ended July 8, reads as follows:_
Nato in circulationi
That is the calculated Tisk which must be taken and if it proves right 07 times in 100 the risk la exceedingly small. Since seine escapes are made by men held under maximum se- curity they cannot be attributed to mistaken judgment in classĄ“. fication, and the calculated risk Receipts
of trusting prisoners is corral
spondingly smaller.
Another feature of the system
is that it widens the scope
employment of prisoners
gives
better
0!
and
opportunity for men
after
Publie deposita Private deposits
Government decurities.. Other securities
Ratio
32,108,303
9.5
Government
llef among market men is that Sundell firm now employs three therefore, there will be promoted by the Swedish engineers, !, sales to foreign countries
through the use of soff curren
cies. This has been the prac
tice recently and accounted for
The Bank Of Franco the sale of about 2,000,000 bales
Statement
to be engaged in work which may be valuable to them in ro- habilitating themselves they are released from prison.
The prison authorities stress that escaping la condemned in- okle prisons as well as by the public, and that a prisoner who csapba "her he is on trust, is considerably more unpopular Total gold holdhea with his follows than one who, Tout other curentie makes a break from inside Bight balance (Mirand), ".
EPU
Paris, July 10. The Bank of France state- ment for the week ended June 80, rends as follows:"
priapri
#
Thal perhaps throww light on the value of a system
which
alme at helpinsat mats to bei come a reputable citizen, after
iistako
Advance to,
Hen, Fand
Profri bills, alegou
he hée puid the penalty for hidup songtanka mod
Chift Mail Special.
this year United Press,
U.S. RAW COTTON.
EXPORTS
New York, July 10:
Singapore Rubber low the lower gold point. As It Singapore Cold Storage
Market
turned out, however, the 1089
South British Lemurance
of gold due to this intervention Brattending
smaller was much
timis
hod: Biralin Btertaĥip) rosult United Engineers Ord. been feared with the, that the reserves sillerial only. Wentne Brom. Singapore, July 10.a modest decline in Jurke,
Some further liquidation was But it la not being forgoltensTM wall absorbed in lite márkél en in London That Continental
July.11 Opening
$1.52 44/30
34/3d
$1.73
$0.03
8025 7/100
01.60
**Mail"kipedia).
Saturday The Closs was lowly sources have in the part path Exchange Rates
Row cotton exports by with good demand for lower murprisingly nocitate thetr 201.261.501AM costination as reported in bales grades. Tulitres:
band1,42 by the New York Cotton, 25, i ubber var tb. Jyl 185,735 308,008 Exchange for tho 1954-65 alapokr
rubber par ib, Ithly
to July 6 were as followRAYON Continen
6,000,000 |Relisin
forecasts About, the; poɑnik, FOR repsons best known
axchanale::/market." thir
"The followinA TAVOB:---
*LA
*STAR ARCTURUS"
"STAR ALCYONE"
$
"THAI"
Loading for Kobe, Ojaka, Nagoya, YokohINTEM..
"STAR DETELGEUSE“
Arr. July 19
"STAR ARCTURUS*
THAI".
"STAR ALUYONE“
-- Aug. 17.
-- Sept. 9
- Sept. 10
Sept. 20
Sept. 21
Oct.
3
-- Oct. 0
Salts July 20
- Aug. 13
Aug. 14
Aug. 28
Aug. 27 8 --Bopt.
Oct.
--Bopt. wim Oct.
IIMITED PASSENGER ACCOMMODATION, All the above subject fo ́altoration without notice.
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MESSAGERIES MARITIMES
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