中
CANADA
TACKLES DRUG
PROBLEMS
THE CHINA MAIL, MONDAY, JULY 25, 1955.
TRADE
and
COMMERCE
SECTION
ANGLO-JAPANESE TRADE TALKS Investors Await
Ottawa, July 24. NEW YORK Little Likelihood Pact
More severe penalties on
drug addicts are recom-
mended by a Senate Commit-
teo which has been con- sidering traffic in narcotic drugs in Canada. The Com. mittee found that there is a "complicated but well defined pattern" of illicit traffic.
The extent
the evil, of especially in Vancouver, had not
been generally
appreciated
before the Committee's report was published, its recommendu- Bons for lightening the taw ugainst trollckers and its supe Kestions for the treatment of addiets may lead to a move for JCW
Tersation next session.
11-
Is the principal drug involved, Canada, as a ber of the United Nations egred to make all Importation of heroin illegal murl put
This
isto effect dest January,
The
STOCK
MARKET
REVIEW
By Elmer Walzer
New York, July 24. Stocks advanced last week after experiencing a brief: period of jitters DI thu Geneva conference.
Wall Street conservatives talked down Geneva worries. They held that peace would be a buon to the nation's industries and a boon in turn to the stock market,
When defence stocks had gene through some more selling, they stendled and came back substantially. That was the durn, pelis to si trafficker-signal for the whole market to
report found that the trafficker-Importer sells 10 tracker-wholesaler, who, ia
are
These
the turn up.
ASL/VD and fow higher-ups ከድሮ addies. The chistribuitor then sells to peddlers, many of whom are addiets, song not.
Doctors
According to oficial figures, there are 3.212 known addicts in Canada, of whom $15 ore. medical. 333 professional and 2,364 criminal addiets. The high number of doctors is regarded
as disturbing.
Of the criminal diets, 1,101 are in British Columbia, which hus 1,500 addiets in
were
no
The evidence of Commissioner L. 1. Nicholson, heat of the Royal Canadian Mounted Police,
that a majority suggested
addicts criminal "driven to crime" by drugs. Of first the 2,384 total, 1,220 wer convicted for some other offence, 478 were addicts with criminal records other than narcotic drug convictions, and only 341 were Arst convicted for drugs.
eitme
Corporation reports showing the progress of Industry in the second quarter and the first hold
many of them records helped the rise along. Several com- panies ordered stock splits and several others raised dividends or declared extras. Meantime, industry continued to mount to new records and official experts said the rise would continue with 1955 taking its place ng qur best economie year,
Early in the week when the murke was in a declining pro- cers, the trading lightened. (picked up as prices turned up.
Will Be Renewed
For Considerable Time
From Our Economic Correspondent
London, July 24.
Talks in Tokyo on renewal of Anglo-Japanese trade and payments agreement have resolved themselves into a series of wrangling sessions. The old agreement has already been until the end of July to give the two extended once — delegations a change to reach an understanding and a further extension is now considered inevitable.
Although little news of the talks has leaked out of Tokyo,
Atlas Canadian Uranium Deal
Montreal, July 24, The Atlas
Corporation
of New York, which còn- trola Bome of the largest uranium minings in Aus- tralia and the Colorado plateau in Utah has bought a controlling share in one of the most feritle uranlam fields in Canada.
Details of the deal were withheld until
share- holders
庭
meeting planned within the next few days. Ailaa purchased control of an Australian uranimum company within the Inst three weeks and has heavy Investments in the Colo rado plateau'field in Utah. -United Press.
informed quarters in London, have a fairly clear idea to HONGKONG
form they are taking,
N.Y. COTTON
MARKET
REVIEW
By William Plunkett
last
in
The Anglo-Japanese payments position has been transformed out
of all recognition over the past 18 months.
During that has bull up her time Japa
from reserves
sterling of zero
£100 illion or twice what is can- sdered her normal requirements of the currency.
virtually
of
כין
to over
fl
dolla:6. Now
more than she is
The British delegation in Tokyo can speak only for Britain and the colonies although trade be- tween Japan and the dominions. Is an Im- especially Australia, portant factor in the sterling
act Japan payments picture.)
year.
TRESSING
this
to be
But the Japanese so far from Gone are the days when Japan withing to buy inore from the Lad
borrow sterling in starling area are pressing for an London agains! collateral crease in the amount it buys from them. Last year imports of she is | selling to the sterling area far Japanese goods into the sterling ares were worth about £200 New York. July 24.
buying from Cotton It
futures finished it and her sterling surplus seems taillion. The Japanese are ask-
igure ikely to rise even further unlessing for week irregular
the balance achieved. moderately active dealings.
AL Friday's close the list ruled 12 points
20 lower to points higher-60 etuis a bale lower to $1.00 a bole higher → than the previous week's close.
the Prices declined in
the in- hour sessions under
yener of Washington uncer tainty in regards to disposal plans of surplus cotton and the methods to be used.
Leadership was of the highest calibre. Industrial gains centred
the blue chips and finally on Frkiny-the rails came life,
to
The rise in the rails hearten- nd the chartists who had been gloomy when the carrier issues failed to join-the-advance Their rise on Friday helped in- spirit Into the whole
The Committee was much. Interested by the evidence given | market.
Unitea by Mr J. 1. Walker, Kingdom delegate to the United Nations Narcotic commission, but
to this conclusion: the evidence it appears "From That there never has been serious
problem in the drug
the United Kingdom and that situation there is not comparable with that of Canada."*
Many Suggestions
The Senators
heard mZI Y suggestions for treatment, in-
vluding "the
removal
and
segregation of all convicted
from
addicts to an Institution, removed
for 呀
preferably on an island, for long periods of time
coupled
general population.
system of parole,
with
some where re- habilitation was Indicated"
RAILS AVERAGE
Best
The possibility of enactment of the Eastland cotton bill, com-
Commodity C:cdit Comp, stocks, also was a pending factor and brought about general Ilquida- ting movement with mill and trude demand small and limited
as to price.
The mirbach average came | mitting the sale of surplus within 3 points of its high since 1930, The industrials approach. ed their record high sei a short time ago. The utilities set a new 24-year high with a record of gaining in every session even the ones in which the other major groups declined.
of an
men
The committee went out of its way to encourage the work Alcoholics Anonymous and organisation aiming at a similar approach, entitled
Narcoties Anonymous..
Their report saldi: "Because there are many common factors In drug addiction and alcohol- ism, both Alcoholics Anonymous and Narcotics Anonymous hold some promise for the rehabilita tion of drug addicts."
Both
v0
nonolines-
STOCK EXCHANGE
Mr Butler's Announcement
From Our Own Correspondent
London, July 24.1
Friday's news that the Chancellor of the Exchequer, Mr R. A. Butler, is to make a state- ment in the House of Commons next week on the economic state of the nation-and expectation that he will announce a new austerity programme including curbs on hire purchase deals-halted the Stock Exchange boom which had lifted share prices to record heights on each of the four preceding days.
The
on
setback mainly affected companies making goods which are usually sold hire purchase, but oils which had advanced strongly in the past fortnight on news that more and more industries are switching from coal to oil as a source of power are also down.
Gil-edged also suffered ៧ On the other hand, the period of weakness when news expected' moves to curb home Just before the weekend, that demand have everything to do sterling was being subjected to with the weakness of sterling, renewed pressure in the foreign Official quarters belleve
that exchange markets, caused fur- rumours concerning sterling will ther substantial losses.
persist and even grow stronger The markets are now wait- as the International Monetary Ing Mr Butler's statement with Fund meeting.
for scheduled growing anxiety. A number of September, approaches-unless to show (From Our Correspondont) measures are known to have something is done
been under consideration by the foreigners that the British Gov- Cabinet and some of them at ernment are determined to least are expected to be adopl-maintain a fhm hold on kong Stock Exchange this ed next week, Almost certainly internal situation. Hence the ex- will morning amounted to $1,213,820, hire purchase will be made pectation that Mr Butler
and there is No quotations and the morning's harder
strong get tough next week, possibility that this transactions:
may bo Before this, however, the stock Linked with more definite in-markets had been going from SHARES BUYERS SELLERS SALES structions to the banks to eur-strength to strength. Olks had
tail credit, #
and cut in imports, been particularly buoyant from the dollar area several leaders were up to now especially 21 1075 and deferment of less important peaks before the weekend set-
capital. Investment programmes.bock,
Businers done on the long
BANKS
HK_Bank of trade can be increased to £250 million this
XD Britain is quite willing to
Fast Asia betwee circumstances Establish trade
the INSURANCES of trade
Union would sterling area and Japon on the stepping up her tighe possible level- long
HIM | SHIPPING imports from the sterling area, as it
is roughly in balance. But
In the present the balance mean Japan
10
....
230
...... 10c0
1433
Waterhent... 21 40 Asla Nav
936.
DOCKSTETC.
K. Whart
73 Providers LOLJAM 16
(It should be remembered that there seems little chance of the
Japanese agreeing to step
imports sufficiently to nuke trade at the level of £250 mution war way a feasible proposition,
has her own
internal Japan troubles, the foremost of which 1-AND, ETC. is needed to suppress intiation.. Unessential inports have been cut to a bare minimum eo the Japanese are not taking kindly to the suggestion that they should buy more British luxury goods.
CEYLON
SUGAR PROJECT
sugar.
Colombo, July 24.
OTHER SNAGS
But there are
01
measures
moves
the
There was nervousness on the IMMEDIATE CAUSE
oll markot at midweek on fears The current weakness of that large blocks of oll shareS
unloaded sterling is not due to expecta- might be
following tion of more severe disinfia-the death of Mr Four Fer .....tionary
but these InCent" Gulbenkifa, Britain. The Immediate cause isfeurs were soon forgotten in the the widespread belief that the renewed spate of buying British authorities are... about to news that the Government. allow sterling to fluoluate within would encourage industries wider trading margins than at substitute oll for coal
source of power.
10009,45
HK Hotel... 17 00
18 1000 770 0000 17.0 UK Land... 72 1945 30673
(N) Kulty UTILITIES
19.00
4.55 2.571% B000 2.57
Train ...... 241 24.60 3150 2475 Star Ferry ...
131
Y'all Ferry
121
156 1233
250 12
100121 An
C. Light (0)23,20) ▼ 1000 23
200 M 23
500 8 23.20
118.20 1500 18.10
3000 18.20
44 445 4400 or 44!4
C. Light (N)
Electric
lacas Elee. 10.70 Telephone .. 351⁄2 3315 3295
1500 2514 3100 351
Dairy
the
present.
EVERETT
NES
EVERETT ORIENT LINE
Fast Regular Freight Refrigerator Passenger Bervice Loading for Singapore, Penang, Rangoon, Calcutts and Chittagong.
"LENEVERETT"
"DRADEVERETT"
Arr. Aug. 2 Salle Aug.
~Sept.
-- Sept. 24 Sept. 23 -*- Oct.
↑
-- Sept.
B
-- Oct.
Salk Aug:
Loading for Kobe, Osaka, Nagoya, Yokohama.
INDUSTRIALS
Cement
..... 324 3214 2500
322 3200 M 3214
"NEBEVERETT"
"NOREVERETT"
*23.40 23 50 500 23%
500 6 23.00
400 23.00 -500
2314
"REDEVERETT“
Watson
L. Crawford COTTONS
Texilio Corp akuyang..
15.30 35
"NOREVERETT'
"BRADEVERETT'
6.15
01.05
Yangtze Allied... 5.00 300 10 Bị Đ
7.00 7.70 1000 R 7.00
1000 7.09
On the other hand they are and eager to buy more A visiting Japanese industrialready On Friday, however, the list mission has urged the establish- British machinery and machine recovered most of its car-ment in Ceylon of a 31,000,000 tools But-the-nag-here-is- lier losses on short covering rupee sugar project capable of prices and delivery dales quoted Railroads reported sharp which reflected the belief that
manufacturers by the
do not producing sugar at five cents a rise in
their there would be no Government car loading and
nicet with their approval. pound. business cutlook Improved
to eniten
In the apparent deadlock one programime the point where several of them ment until next week. Golos ex- The commission which visited hope remains establishing the placed high car crders. This intended to nearly $3 a bate before Ceylon recently suggested the sterling area on a higher level. turn helped the outlook for the easing
Giritale, in Central and town of prolit-taking
This
is or the Japanese to any area cyclical railroad
some equipment hedging.
their raw of Ceylon, as the most suitable site switch issues.
for the project.
material Imports away from the LIVERPOOL WEAKNESS
dollar area to sterling sources, Oll issues displayed strength
The mission was said to have The British delegation in Tokyo most
of the week and several
Weakness in reached new highs. World peace
the Liverpool called attention to a similar pro-are stressing this point, with STORES, ETC. on a brighter basis would help pectation of a
market early in the week in ex-ject started in Formosa In 1943.
particular reference liberal exportAt present, the Formosa project availability of sterling oil. those companies, the market
said. They also held that subsidy polley was reflected at now includes some 40 factories
New York. Liverpool recover- other companies with foreigned some losses late in the week, producing over 1,000,000 tons of
with connections
ехрогі
cotton
from
other snags Hedging of деву possibilities would be aided, The
According to plans outlined (apart from those connected with Street tried to sort out those the Rio Grande Valley, where
is raining by the Japanese technicians, all actual trade that makes it un- issues and some of the buying the movement
momentum, as well as from the machinery for the proposed ilkely that the agreement will Mexico was another contribut-sugar industry would be supplied be reached quickly or easily. In: MISCELLANEOUS ing factor to the decline.
Japaness manufacturers. ure frst place Japan has the Constructive factors such as a Jupen was prepared to supply problem of what to do with her
domestic the better than expected
and excess holdings of sterling neccssary machinery
has something like £50 consumption report and more technical assistance, according
advices from the to the mission.-United Press. million over and above its optimistic textile markets had little effect!
normal commercial requirements. the In stemming 1quidation
The question is what should be minor
done with the surplus? Japan movement except
could if it wished sell for technical corrections.
dollars. True it would have to Crop accounts are generally favourable beltwise and the
accept slightly less than the market now is
Metal rate, but the loss would turning its at-
bo not tention to the coming first crop
now that the heavy of the season which
British authorities are support- estimate will be published on August 5.
the Ing
transferable sterling Expectations in the trade now
market. centred around EL production
Alternatively Japan could hold bales.--
Borneo Petroleum on to the whole of its sterling 11,500,000
Syndicate balance in the hope that the
Consolidated Tin Smelter
Ord, und will shortly be made con-
would involve | Fraser & Neave fitd. vertible. This
10x3 Ord.****
& Neave Ltd,
organisations provide aim to group therapy and develop ITE the individual i
was based on that situation.
Tobacens had a better market. Stock splits were ordered by such companies as Owen-Illinois Glass, Gillette, Lifesavers, and Evans Products. Paper whares
મ were said to be piling up good earnings and then moved higher, The Industrials average closed Parts of the Committee's re- the week at 164.69, up 4.40; rail-
150,08,
up 0.01 qtility, port are revolutionary in their road
68.45, up 1.27: and 65 stocks, approach, so far as the thinking 188.09. 1.67.
desire to by curet.
of the average Canadlan is con
The
Sales for the week totalled a daily
United Pre93,
cemed. One paragraph in pati 11,502,117 shares, of cular is attracting attention:
evidence of medical average of 2,316,423 shares. authorities was to the effect that drug addiction is not a disease in itself. It is a symptom or manifestation of character weak- nesses or personality, defects in the individual. The addict usually an emotionally insecure and unstable person who derives support from "riarcotic drugs."
Chief Proposal
is
Chief of the proposed mea- sures for combatting the trame /in drugs is heightening the penalties to bo,imposed црап traffickers, whether they addicts or not, without tinction.
Australian
Publicity Campaign
Canberra, July 24. The Australian Cabinet has Approved a plan to spend more
£280,000 fis thon
Australian
re
approval followed a fest campaign in the Bristol area which hekloved heartening re- sulls.
(£200,000 sterling) on a trade drive in Britain "It is the considered opinion blicity of the committee that the must during the next 12 months, the effective
of Commerce and way of taking the Minister profit out of the drug trame is Agriculture, Mr John McEwen, by making all trafficking, in has announced. terms of penalties,
The most hazardous and costly under- taking to the trafficker.
"If the higher up is not able to find a rondy mupply of assist- unts to distribute drugs to the addict population, ability of drugs may be reduced to a possible minimum," it says, Suggested sentence, irrespec-
Mr McEwen sold Australia would concentrate on a system- to avail alle area by aren coverage of
the main
figure of
United Press.
for.
The Bank Of Franco
Statement
cur
by
Arab League
Shipping Company
It
Singapore
Stock Market
Singapore, July 25. Brokers today quoted the fol- lowing stock přiecs:
Cairo, July 24. A note concerning a project of an Arab for the creation navigation company, having a risk of a large capital Fraken. prot
Arr. Aug. 10
-- Aug. 20
www., Sept.
7
31 --Aug. 27 -- Bept.
Я --- Sept. 24
"LENEVERETT"
-- Sept. 23 LIMITED PASSENGER ACCOMMODATION.
At the above subject to alteration without matiem.
EVERETT
STAR LINE
FAST REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Singapore, Port Bwottenham, Madras, Colombo, Bombay, Karachi ✯ Persian Gulf Park, "ETAR BETELGEUSE" Arr. Aug.
- Sept.
"STAR ARCTURUS"
THAI
"STAR ALCYONE"
10
Bails Aug. 10
ย
Sept. `0
Oct.
-- Sept. 21
Loading for Kobo, Ozika, Nagoya, Yokohama.
Sept. 20
~ Oct.
15
→
10
Nov. -B
- Nov.
G
Art. Aug.
12
Sails Aug. 13
Aug.
17
- Aug. 28
----- Sept. 20
-- Sept. 21
-
-- Oct. 0
Nov.
Oct... 9 31 → Oct. LIMITED PAssenger ACCOMMODATION.
All the above suḥfuck to alteration without notice.
EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the Republio of Panama with Kimlied Liablilty) ·
Chinese Department: Telephone 28293. Queen's Building, Telephone 81206.
t
British
Opening Co. "Lintang Rubber
$1.00
49/-
"STAR ARCTURUS" "THAI" "ETAR ALCYONE"
32/-*
"NTAR BETELUKUBE“
$1.73
85.35
Dosat
Bod
$1.70
$1.20
$3.30
Ltd.
Now Serandals Rubber Co. Potaling Tin tid. Bames Hotel ...
$1.50
83.10t
$2,35
$1.05
quoled
$27.00
$14.00
$11.18
$3.70
exdiv. cumdiv, China' Mall
New York Raw Cotton Exports
the pound depreciated against capital of six million Egyptian the dollar, But this would be Hongkong & Shanglial Bank. pounds, has been submitted to at least partly offset by the fact ing Corp..................... Paris July 21. Mr Abdel Khalek Hassounit, that once
the pound becomes Hongkong Tin Ltd.
Kempas Lid. The Bank of France state- Secretary-General of the Arab freely interchangeable with Lunes Rubber Estates Ltd. ment for the wook ended July League, it was disclosed here collars the excess of Japan's Malayan Breweries -13, reads as follows:
today.
would be con- sterling reserve France
Plans have been made for the verted into dollars at the official Tojal gout holding. 201,20) 36,420 Total other
execution of the project as soon rate at any time It chooses. - renctes
14.224.730.730 it has been approved by the
Singapore Cold Storage South British Insuranes Co. Bight balance abroad
ANOTHER REASON ・・
Ltd. AnXCPU Road 100,102,081,283 League's Economie Council.
The noto suggested that Arab Advance to Stabilisa-
further €
reason for Siraits Trading ton' Fund
190,000,000,000 governments could supply 50
delaying the trade and payments United Engineers Oja.
Straits Steamship Teint bills discounted 1.140.009,407,95 per cint of the Bank note in
company's government's agreement is seen by observers wears Brok Eirculation
Each
In London. This is the fact ....... 2.631,613,039,215 capital. Current accounts and
contribution would be
pro that Japan still nurses consider Special. deposija
portional to its national budget. able resentment against Britain The remaining 50 per cent for standing aloof when Japan could be supplied by loading was admitted into GATT.
centres in which Australian products wero distributed,
135.218,663,800
United Prew.
The Bank Of England Arab bushessmen and financial
Statement
London, July 24.
The Bank & England state- ment for the week ended July
tive of whether the tramcker is The drive marked the begin- |20, reads as follows:
an addict or not, would po ta ning of a programing to meet compulsory, lengthy minimum now keenly competitive trader Note in circulation...
Pubile deposita rentence
Increased to trader marketing conditions. and an
Private deposita The Australian Government | Goverman, securities minimum for a second og rub- sequent offence and possibly a would hrothe edat of the Other securisteg
Reprints maximum of life imprisonment." | programano with the food iné | 14th -China Mall Special,
durley-China, Mail Spočia,
1,018.01
houses---France-Presse,
Yet
Japan's hurt pride is no doubi, reflected in the mood of its' do- logates at the trade and pay
New York, July 24. mente talks. But it is not dowtination as reported in boice haw cotton exporta ,by Exchange Rates clent reason
prevent Budiness was done in the local:Would 16 *gement Bath sides by the Now York Cotton
the
MESSAGERIES MARITIMES
FO. Box 63*** Queen "Building BWF2000) FAST PASSENGER/FREIGHT SERVICE
on
to
Balling Aug. 18th salling Sept., 10th
"FAST" FREICHT SERVICE
"DONAI" "MEINAM"
salling Aug. 18th sailing Bapt. 21st
to
"CAMHODGE" 1964-08. "LAOS” if the talks falled Exchange for unofficial exchange markat
this and they are realistic enough to season to July 19 were as morning at the soljowing "tales" – renting this, à - put, it will be followe
5.04
Exit Semprat Sterling" "notek (per 1 * 18.30 some time yet before solutions Priisin Australien ridien (per 1 * 10 15 Ali thara': problème böselling bikini Indonesian rupiaha, pár 103) -- -1110 thạc stórlife dred spanded trade canada
can de Fesolved, so quick results same perioder year fre ́not expected in London.