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GILMAN'A ČO, LTD, Grameter Arnald
COMMENT OF
THE DAY
The Consequences
VIE economic and financial
THE
FLOW
consequences of firstly, Egypta seizure of the Sov Canal, and secondly the more recent closing of the waterway and the culting M VI substantial OL supplies from the I Syria pipeline, are manifesting themselves, und it would be idle to pretend they are anything bul grave and disconcerting. Inevitably the repercussions are wide In their effect. Brain, for her part, hae had to suffer heavy decline in gold reserves and with it a wonkening of the Pound to a degree that threatens the stability of the whole sterling area, 14 is the short-term situation which requires speedy cor- rection and this aerolints for the British
govern
ment's decision to seek US. Canadian help through their
• waiving of interest pay. ments due this month on post-war dollar loans.
Ma Macmillan's confident belief that the grunting of this request will serve its immediate purpose bolstered by the fact that Britain's trading position is strong, and the indica- tions are that it will con- tinue to remain 80. Thus
the prospects of earning an increasing amount of hard currency are good, and if immediate assistance for sustenance of sterling is forthcoming,
there exist: well-founded hopes that in the course of the next mix months Britain and the rest of sterling bloc wit have recovered from the existing embarrassing situation.
Egypt's deliberate dislocation of the Suez Canal and Syria's sabotage of the vital oll pipelino Kaa, how- ever, done more than com- promise the economies of Britain and other Went European countries. Those
have nets
Also gravely impaired the economic stability of the Middle East generally. Egypt, with her only
wanton
big
exportable commoulty cottonmortgaged, and a complete loss of revenue from the Canal, is fat approac'ing
аге per
bankruptcy; hoth Iraq and Syrla suffering culs of 10 cent in their earnings from oil. Thus the bill that has to be paid for the climina- tion of the Suez Canal as an international waterway, and the restriction of vil supplies from the Middle East is as heavy for those who perpetrated those senseless acts as for their Intended victims.
The economic outlook for those naltons is, to say the least, sombre,
CHINA
No. 36610
Established 1845-
TIIR WEATHER; Modernio -N.E.-winds.~ Fine,
WEDNESDAY, DECEMBER 5, 1956.
Price,20 Cents'
RELAX
DAKS ADS
INʻACTERS TRANSKIN
Whiteaways
HK SIGNS BIG TRADE DEALS
$100 Million Business Reported In Canton
EXPORT SHOW SUCCESS
by ROBIN HUTCHEON
Chinese, British and European businessmen from Hong- kong have done big deals with trade officials at the giant Export Commodities Exhibition in Canton. They are officially reported to have signed contracts exceeding $100 million slightly less than three-quarters of the total business so far.
I have just returned from a three-day visit to the Exhibition.
I and another British reporter met the Assistant Secretary-General, Mr Feng Li-fu, who told us that in the first 20 days since the opening on November 10, businessmen from more than 20 countries had signed orders for Chinese products worth £10.3 million (HK$161.8 million).
IT'S A BIG FIGURE"
sur-
British and European businessmen were prised this morning by the Chinese estimate of trade done by Hong- kong businessmen at the Canton Exhibition of Export Commodities.
"If Hongkong has done this amount it has done vory well," the manager of a big trading company said.
· “He told--tho China Mail that he had signed con-- tracts for about анка million during a recent visit to Carton,
And he know Hongkong BUSINESSITEN had been buying pnduce on Japa- nese and Indonesian count
MIGHT BE
sc-
"I would 817 SITK 10 mill'on is too low but 3100 million is a very big figurt. I suppose it might be poorl ble. The buying has been done mainly by Chinese,
Λ British businessman said: "If the Chinese figures are correct this is most en- couraging news,
"I should say a large
amount will be trade that will never touch This Colony. It will go from Taku Bar and Shanghai
Out to its destino-
Another leading British businessman sald: "This figure Is quite possible, though I wonder how much Is additional business."
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our
ent beanning to reconstruct
country and there must be many Imperfections. But any criticism you might make will be mosi welcome"
"Approximately 70 per of the total amount of all the contracta have been concluded by longkong businessmen,” Mr・ Frog Bald.
The figure is murprising be- cause before 1 left Hongkong, Chairustus of the Chinese
the
General Chamber of Commerce, Mr Ke Chouk-bung, predicted that Hungtong orders would be about HK$10 million.
ON THEIR WAY
I checked twico
Mr Feng's figures: through
Mand: rin- English interpreter, once verb- ally at the interview and again a day later in writing.
Apart from stressing " proximately 70 per cen" he con Armed
his statement on both
DCOWNIKINS.
Mr Feng,old he expected the proportion of Hongkong orders would
change before the Ex- hibition closed on January 9, "because many British altdi European businessmen are still
on their way to Canton."
But businessmen from Chi- nese and British flems in Hong- kong eratinue to arrive in Cîñ-
ten almost daily.
So
thon far more
1,300 foreign traders have attended | the exhibition, And placed orders for commoditles in about 1,000 categories.
These in lude traditional ex- port lines ilke silk, teu. wood oil, resin,
egg products, veg:t- ables and con
1 LE
receiving gets, lm projectors,
I could get no estima'e of how much of the foreign bust-
would AcJS transacted
puss through Hongkong on its way to Southeast Asia, Canada, South America, Africa, India, the Mid- die East and Western Europe. All Mr Feng would say was: "Some
will go vio Hongkong. Some will go direct from China.“
Canton is crowded for Exhibition, Businessmen from over China are there including delegations from far off Sinklang and Tibet. All have had their train fares and accommodation (Contd. on Page 8, Col. 7)
t.
the
Adlai: Never
Again
i
Washington, Dec. 4.
Adial Stevenson announced teley Through the Demonale Party's National Committee in Washington, that he would never the Unked Satts. again run for the Presidency of
He arid he intended in resume his private law practice in Colesgo on Jarusry 1. However,
The Exhibition of Chinese Export Commodities is being held in Canton's 'Sino-Soviet Friendship building (above).
2,000 BRITISH TROOPS TO LEAVE EGYPT TODAY
Port Said, Dec. 4.
UN Chief May Visit Budapest This Month
United Nations, Dec. 4. The Secretary General, Mr Dag Hammarskjold, told Hungary tonight he wanted to visit Budapest on a fact- finding tour for the United Nations from December 16 to 18.
This
Was disclosed by Mr Inre Horvath, Foreign Minister of the puppet
Hungarian te gime, after 20-minute.confer- ence with Mr Hammarskjold.
Mr Horvath said he had sent
the Budapest
British Army headquarters announced tonight that about 2,000 troops will embark tomorrow on the troopship Dilwara as the first step Mr Hammarskjold's request to in the withdrawal from Egypt.
10
authorities and hoped to have a reply soon
Mr Horvath said the date was hand and the French and Bri- tish on the other, contacts that suggested by Mr Hammarskjold, might lead to a settlement of the He said he sent the suggested Suez Canal problem,
date to Budapest immediately by Telex (direct wire teleprin However, no date has yet been, ter) but he had been experion- fixed for talks on the subject,cing some delay in getting mess it was said. It was believed ages through by that method. unlikely that talks themselves
Jofephone would be resumed before
Cargo vessels and 1STs were Three shopkeepers who dis- loading material on the docks obeyed the British Army Com- as the first units alerted mand's orders to open their depart, began preparing their shops have been arrested and packs
interned, an Army spokesman and military vehiclza
Bald today. sped back and forth from the
They are an Egyptian and two quays to logistics bases.
Greeks. The four others told to open their .stops cannot bo traced.
This morning the strike was beginning of the new year. more complete than ever.
News of the re-embarkation of the troops has caused con-ler- nation among the foreign com munities. The Italian Consulate of tho 6,600 said that 500 Italians here had already 10- gistered for departure and the list wne inteasing hourly. A similar situation reigned among the Greeks.
PRIESTS 'STAYING The French Conbilate is over- whelmed with requests to leave aboard French vessels. The French, Lyéen and Alliance Fran- calo are packing up
and reachtas luver been advised, 10. loay
A
The only people reportat' to be staying art the cisters and primta uluched to the religious Institutions 01 Egyp.ian hos- pris, and the Catolic Bishop of Port Stid.
In the y, the alluation extremely tense as a result of requisitioning orders Land against seven shops by the B.I- lish millary authorities.
Tel
are ab- Generat
Ho
did not
the Budapest, be said.
Bold
Session Adjourned The enterence followed an
to
In the European quieter of
Ariv report Port Said, the streets
Edson Burns, Com-Incomment to the Assembly's solutely deserted, and even the mander-in-Chief of the United afternoon session by Me Horvath hawkers and shoe-shine boys Nations police force, will meethak Hungary was ready have gone. Egyptian polico, armed raeli offers somewhere in the discuss immediately with Mr with rides, are patrolling the Sinai desert on Thursday to seek Hammarsi Jold strcals and so are British troops. agreement on the withdrawal of
In London, Foreign sources said it was the task of Well informed Isranil sources the U.N. Secretary-General to reported this tonight-Reuter resume with Egypt on the one and France-Presse,
Office Israeli troops from the RIGA, Bum
WIFE REPORTED MISSING
San Francisco Deo. 4. Mr T. C. Hoo, son of Dr V. K.
Код Wellington
Nationalis China's former Ambassador to the United Blates reported today that his wife, Mrs Chris Koo, 27, la missing.
date o for visit to
the Secretary-
Mr
bad-an- Harvath that he was ready to
meet at any time with the Secre lery Central to discusa sotila- ment of a date and arrangements..... for a visit to Badryt
The United States Immediamy
wch an
General Aembly
children, David, 5 and Linda 4, permit. Mr. Heevathaid Mr without further, word.
Hammarskjöld to talk Unked
Mr Koo explained to the police || Press, that he delayed reporting als wife's
absence because be
thought she would call him. Petrol Rationing
In Singapore
Mrs Koo came to the United Slater from Formosa last June, She resided in Dr Wellington Koo's We hington D.C residence um August, when she came to Redding, California.
Mrs Koo, according to her husband, disappeared on November 26. She had tele phoned her hucb-nd et his offer |
"My main concern now," said nying she was go- ing on a vacation but did not Mr Koo, who is a plywood cor- give her destination.
poration engineer, "is foul play." She left their home and two 1-France-Presst.
and "pecialty lines" like radio he added, he w: uid continue to ALLLED CHILD on that doy,
bi ycles, cement, sewing in- chines and Industrial machinery. WE NEED MUCH
M
On Sino-British trade, Feng said the embargo was pull a big obstacle but "becaure of the Western moves to r this Testrel on the het two years, the situation has got better.
"We now have many com- modities to exchange between cur country and yours.
maintain interest in the Demo- erable Party and would be happy į to "strve" if it should be help- Il-France-Presse.
Queen Gives Jobs To Hungarians
The
London, Dez. 4. Queen gové Jobs at Palace to two We have a long and tredi- | Buckingham
business relationship w.D
young refugees frem Hungary Britain. We are now starting ki today in a gesture of welcome to reconstruct our country red we the thousands of Hungarians
miny things. On the Anding sanctuary in Britain. ciher hand our own export Two 18-year-old youths from commodities are improving in quality and increasing not only in variety but in amount,
"We cod much for our own development, but it 1s also posable for us to give supplica in huge quantities. Generally the amount available for export is determined by the develop- ment in our own country.”
Mr Fong said Chinn was not producing farm tractors yet but factories were now being con- structed.
[But
China is making com- bine harvesters-we saw one at the exhibition].
NOT ENOUGH CARS
Budapest, a restaurant waiter and an apprentice hairdresser, were add to the palace staff on personal instructions of the Queen, a palace spokesman_an- nounced, Neither speaks Eng- 11th.-United Press.
Nehru Blames Britain
Now Delhi, Dec. 4. The Indian Premier Mr Jawaharlal Nehru charged tożny that Britain and France were to blame for much of the trouble in revolt-wrecked Hungary. arc manufacturing some He told India's Senate be cars but not enough to meet | helloved Bovlet Intervention in domestic demands so we have Hungrey was due si least in part to import them,'t ha: said.
to Russin's alarm
over the Anglo-French attack on Egypt.
United Press.
Mr Feng concluded his inter view by saying: "We are just
WHO TROD
ON HIS TOES'
London, Dec, 4. A Stratford magistrate today
Lawrence india,ed
Sydney Schuman, 27, a worker, charged with having beaten a 10-year- old child to death because the child stepped on his toes.
The
Fuld the child poilus stepped" on Schuman's toes during a game of hide-and-seck at a charity party in
in London.
Two hours later, Schuman caught the child, carried him to a deserted spot, bent him to death and then lay his body in a garden, the charge said.
Schuman told the magistrate: "I don't know what kot ยกพ my, because I love children" He pleaded not guilty.---France- Fresso.
Ship Sinks
off
Singapore, Dec. 4 Singapore agents for Pelni Lines, an Indonesian Govern ment-owned shipping company, salt today their ship, the: 800- ton Labadjau, had sunk Natuna Island, near the west coast of Borneo, with a cargo of 620 tons of rubber, for Singapore, Bix of the 28 crew members, including the captain, have been. picked up, the agents sald. →→→ Reuter;
♦Britain's Request To Waive Loan Interest**
CANADA-YES: AMERICA-MAYBE
Ottawa, Deo. 4 to meet the_Belilsh request The Canadian' Trade Minister, to walve the December 31
Mr C, D. Howe, indianfod
interest payment on Today, thɔ⠀ Oxbinet - had
$3,750 million loan, agreed 'fo": mars · Britain's годном
· for waiving
Congress "would thatfers be 628,200,890*) is interene duenaked, to clarity' che pratiten
with the abi Britain to Interest
The Admini
the language
The Sectolary`, of the Trea¬ sury, Mr George: Hum= parera, today conferred with high Treasury oficiais on
ozialala, metal – that, in the
meantime,
*before Con
on the adminmirstiems request, Britain would make
regular pkymision. the principal of the loun and would hold la Interest 'payment -- în', cnórow: (lhird,
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Singapor), Dec. 5.
A b setting up the ma- chinery for petrol rationing in Singopere is to be introducet in the legislative assembly today, It was announced today. --Reu- ter.
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