RANSPORTATION
THE CHINA MAIL, THURSDAY, APRIL 23, 1959.
Gilt And Money Markets Burden HONGKONG
Somewhat Abated PROFIT-TAKING IN
Adverse Freight U.S. TREASURY ALMOST
Markets Affect UK Shipbuilding
London, April 22.
BRITISH shipbuilding today stood at low
tide.
CERTAIN TO
BORROW THIS YEAR
By SYDNEY S. GAMPELL
London, April 22.
The burden on the gilt-edged and money markets is some- what abated by the money that will not have to be found to finance the gold and foreign exchange reserves. financed Last year they went up by £284 million, essentially by Bill borrowing,
This year they are Expect 20 to go dawn, because of the Boy
the
The Shipbuilding Conference, composed of the nation's major merchant marine construction firms, reported the demandment of up to £199 diion to for commercial vessels "is almost non- existent."
In the year Which ended March 31 orders were placed for 158 ships totulling 511,000 tons, the Conferchee's Intest Agures showed.
Jo
which alert
the March 31, 1958, contracts werd received for 2905 ships totalling 1,136,000 Long the skiphafitters 34.ported.
share
sealst igures that apart from a hunt ke ber of small and specialised craft. the demand for
1.900 is abnest
For rehabi tomanage ton-exister,A," The Conference ohmanerd.
LIKELY TO CONTINUE
"It is a slate of affairs which Les Ikely continue until there is a marked improvement In the freight markets and the general outlook for shipping." the report ucided.
London Stocks
The
Mixed
At Close
closed
London, April 22. stock
market mixed but with tinued very firm under- tono.
The
were
con
Royal Dutch Shell group made the big news of the day in announcing a take-
10 skipbuilding firms an over bid
Canadian Eagle, currently they Shares of Canadian Eagle sky- that notted have 502 vessels on order. Con- rocketed 245. Other ol stocks
unsettled with atruction of the nips will cost
Royal a total of £755,300,000 the Con- Dutch and Shell lower, ference said.
released
the
GRI-edged by
securities con- Figures builders showed improvement tinued to improve on some in- during the first quarter of 1950 vestiment buying.
Fidustifols over the same period of 1958.
were mixed but JANUARY-MARCH
there were atvern) good features on company news. Tobaccos aud were dr, textiles newspaper drifted lower and mores were irregular.
Th the January-March period of this year a total of 53 ships amounting to 55,000 tons were placed. In the first quarter of Just your only 39 ships with total of 41.000 tons were placed on der.
However, the builders ummpha- | sted their chief turket, that of Constructing large merchant ves- sels, has shrunk. --U.), A.
Steam Tug For South Africa
Gold stocks Preppers Atm.
Were
mixed,
th the foreig}) bond market Greck liens eased,
Dollar socks were mixed.-
V.P.I
Closing Prices
Unitedged Bondi Halish Transport 9, 1079/80 5.2/1.
Consuli 2011 – 250%. Lonas 1-75-9/10 ̧ ̧ Conveniun Logn 103-13/10.
THE first of two powerful 3-1/16
steam tugs ordered in 1956 by South African Rail- ways and Harbour Adminis- tration from the Scottish yard of Ferguson Brothers (Port Glasgow) Ltd, hos comploted her trials on the Clyde,
She the acean-going_tug
Пер
1909-
Luan 3* · 1959/00-
Funding Stock 946. 1093/2008–
Fundtag Izan
NO/
Sovina 35, 1835/85–201-15/10. Savings 2, 1000/70- EDES Saving 37, 1905/9 – £10-7/10.
Dalika
Batelav's, Burdă "A" Lid ard-033 Chartered Bank-47 Hongkong- £45.
d.
arance
Alterait and Motors
Watton (prurance Çation---£4-9/18,
LET
International Monstary Fund-which unlike most other ayments, the Government warmly welcomes.
For Britain, they are merely a transfer of reserves from one pocket to another; for the world the enlarged IAIF quotas are a great access of liquidfly and Britain stand to gain most from
resultant Buy
expansion 1
world trade.
This is the rare rape where Kovernment regnids it as more blessed to give than to receive. As thec payments to the IMF have to be #nanced unlike a | zormal hep, in the resttyes, Blue Treasury will not be si Biag the gold and foreign exchange--the £530 million of additional budgetary borrowing will not be abated by the full amount (pre- humbly a least £100 milion and perhaps much more of the difference between laxt year's rise of £204 nilon in the
FUSUTVES
this year's prospective drop b them. Nevertheless, if sliculd be a uste ful abatement,
I!
nol Is
the British Treasury that is in danger thin
*
BLUE CHIPS
ON WALL STREET
New York, April 22.
The industrial average suffered its first decline in the past nine sessions today in moderate trading,
Profit-taking In many of the Armour blue chip issues which had Dark of Monta
Alla Cons Milling paced the recent advance to wh-Lam-liga. historie is brought irre-Balintek Ohio Rularity into the list and drop. Aviatica Corp. pcd the industrial average be- Bigguct Cont low yesterday's all-time high.
Bella Francy
Erlebeur Strel
Boeing Alpline Borden (Tae) Co.
Be soughs Add Machine Col. Packer Corp. Campbell Houp Co.
Canal Pacíße R. Case 49. 1) 06.
a Tractor
Individual losses in the list ran post two points in swae at the cators. The oils were one cf the hardest hit groups with lesser running post twn points in Amerada and Royal Dutch.
The steels were hard hit de- the apite some excellent Arst quar colgate-Palinive Co.
The rails
turn In
so much a dangce as a near-make people quick to catch the corialaty, and the U.9. bonks | turn of the tide.
Experience in both America Kare most unhappy about it.
The Budget's main encourage and Britain is that A mer to both physical one sentiment suffices to turn financial Investment 1x its capital-goods eyele; that private ter earnings reports. general character (one could capital spending falls faster backed off with a loss of around almost any 118 underlying then expectations on the down-a point in Baltimore & Ohio the philosophy) and its contribution turn, and betters expectations | chief offender in this group.
on the upturn.
[CITY LIGHTS
CHAIRMAN
dafo "Still a bit worried about those business lunches!"
London Express Service.
Even in a general surplus of Chemicals Up
capacity, there is scope and need for
capacity Improving
and Meloney; the distinction bes tween improvement anc enlargement is largely spurious, but there is something in it
more
for (though admittedly housing and other socla) invest- ncpt than for Industrial Investment). If the new gadget can help capital goods to All in the trough of the trade employment
and
f
Chemicals, drugs and select- ed electronics fentured on the
Celanese Corp.
C. 1. T. Financial Corp. Chae Mahal. Bank Chrysler Motora
Pxly
Colombian Cretion Co. Concretal Credit Common wenith Elre. Covlidated Edison Continentai Oil of Del Crewn Zellerban....... Cuban Amer. Sugar Diamond Alkali Digmond Gart Daugins Aircraft Dow Chemicals Dupont de Nemours
Fastern Airlines Banan Kirlik Fan National GR
upside with gains running past two points or more in some of the pivotals.
Today's volume was 4.430,000 | Funity Finance Corp. shares."
Of a total 1,234 issues traded 355 were higher and 649 lawer.
American Exchange volume
cycle Instead of was 1,400,000 shares.
Bonds exaggerating its swings,
volume aruounted good luck to it.
$5,750,000.
Dow-Jones closing
Welcomes Cuts
turn out that the Government bas Not con. trived' as much expansion 23 the economy could use and wa sicrling could afford, there are plenty of things that could be done about li with- out needing another budget; the constitution welcomes tax cuts at any time.
is
year of inflationary to buoyancy and confidence, It barrowing from the banks, should do at least as much for
industries For the U.S. Treasury It is not capital-goods
and If the buoyancy runs awuy shares as for consumer
itself, there goods, with
always perhaps more.
funding. As the Chancellor said, The sperte vom-on of con- | funding has had a highly sails- will con- verting Fwo-thirds of the carin? | f.clory outcome and allowances from lax-free kans here to be used in support of to outright tax remissiozs is not policy. It is what did most of sneezed at; the open the trick of disinflation and of
New Pattern
Of China Buying
London, April 22.
caro-
A new pattern seems to be emerging in Chinose buy- Ing. She is spreading hor trade over a wider fiald and looking more fully around the market of the West. Lately, for instance, Ching made her first purchase synthetle rubber. She placed a £1 million order for 5,000 tons of synthetic with the Italian National Hydrocarbon Corpura- tion (ENT).
of
This is the first result of the visit paid last December to Mattel, the China by Signor president of ENI.
colating out
Observers are
10
threat to withdraw this con-saving sterling. cession In the next boom could du more than the concession it- self.
Investment
ollowances
In the United States, by con- trast, funding is lost cause if ever there was one. The U.S. willTreasury's ditemuine would
be
not make people swim against comical, if the soundness of the the tide, but they are powerful dollar were not so mamentous when the tide is with them and for the this particular gadget may well 'Special.
Yesterday's Closing
world. China Mall
were:
36 Industrials
20 rall
26
20
illities
45 stocks
to bonds
to
averages
025 15
107.55
02.30
214.27
23.13
Comun, future price index..
Closing Prices
Abllibi Pwd & Paper Alden Inc. Aey. Algama_Steel Col Allied Chemicals
Chalmers
ARM Inc.
Am. Brake Rhee American Airline
Átterscan
Cable Corp.nik CD. American Cyanamik)
101.05
$ 30%
112
ZU
Firaune Tyre & Ribber
Fini Nal. City Bank Faxi Motor ...... General Dynamics General Electric Ceral Feeds
General Motors
Gea, Pub. V. Ges Tyre & Rubber
Georgia Pacifle
Gelly Ole
Glidden Co
Gririch 8. F.) Un Goodyear Tyle
Grumman Airerat
Gulf Oil
Hamond Organ
Heyden Newport Cery. Hancatoke Manaɛ Co
Who Power
Ingersoll-Rand
Inland Steel Co.
interchenicsi Corp.
Int'l Business Machines
Tat') Harvester
International Mickel
International Paper
Inti Tel & Tol"
John-Manville Co.
Kaler Industry
Kankas C. Power & Light
48
Kennecott Copper
214
Radio
Kimberly Clark
||Liggett Meyers Tab, Cu,
Lily Tullp
5718
Lockheed Aircraft
10%
517
Lone Star Cement Co.
14915
704
48%
Stock Exte
30
Mei Iren Corp.
Tel
23H
Minnesota Mising
104%%
Mission Development Monsanto Chemical
70!
Amer. Forgn. Power A. Gas & Ectric Am Home Prod. Am. Mach. & Pary American Metaj J. American Emelting Am. Sugar Ref. American Tel American Tob. " Anaconda Copper Arnico Steri
COMMODITY PRICES
FOREIGN EXCHANGE
NEW YORK
rates were!
Loews Incorp...
Lowenstein & Sona.
McDermott J.
ilay
McDonnell Aircraft
Montgomery Ward
Motorola ine. National Discult Co. |National Cash Reg. “A”
National Dairy Prod. National Lead
National Steel Corp
New York Central
Norenda Miney
Norfolk & Western ty
North Amer. Avlailon
North-west Airlines""" (Com) Olla Matteson ....
01 Ervatars Owen litilas
filass
the afternoon on better demund ; averige prise of unc-lucli cation | deford Paper Co.
for one Ras May and June deliverles. Futures:
No. 1 rubber per ib. May 0314-631,
June 253-000 No. 7 rubir per 19. May 045-947 rubber per tb, May 314-412 No. 4 rubber er 10. May 9318-474.
531-95 Spot rubber unbaled Blanket crepe
Nu.
Nu. 1 pale LONDON
097-00
The rubber market was fully
-Dottie-Hugo imehed-fantasy ~ Mahar ==G+¢}} ~ € 100% that this. In-also the first step. Closing EOF DIT with spot quoted"at" 20
and to be followed by the slater ship F. C. Surriek. Weighing 800 tons gross, the Danie Hugo has engines made by the famous
Blacriore lad
specialising in gas turbine pro- pulsion and has triple expan-
■ion vil - thed reciprocating muchkiery capable of 3,000 hp which gives
a very powerful
pull for deepwater work.
The range of the Darle Hugo will be three hundred miles aut the vessel is a first-class twin- screw tug produced by one Scotland's specialist Veskel builders, Ferguson
Brothers
of
have in recent months launched two tugs for Chana und have one on order for use Iranian waters.
they
in
Dutch Win Haifa
Dock Contract
NE
Jerusalem, April 22. TETHERLANDS firma hovo finally won the tonder for the construction of an Important skipyard in Haifa port, it was announced here today.
Tenders had been sent in by countrier, Including several
France.
the
The new cock will be capable of building 7,000-ton ships and effect all repairs of the Israeli Beet,
On the other hand, French Arm of Soplele Dunker- quoise d'Entreprises has been chosen to bulit a 298-melre Jong pler
in Halfa harupur. Tail
earler Haifa underground ***France-Presse.
Arm
Fuad Mujur Co-6pm.
Lizewerles
Dillers Co--20
Building and Materials Associated "Portland Cement-19:
Cosi, Steel and Engineering Baboeck & Wileux Lug-40, Tel. Vickers 124 34 400.
Food and Tubacco Butik American Tob. Co., La-
1.
Id
Tobacco Co.,
Miseritaorous
1.td-503
Brittan
Oxygen Ltd, ON!--05 Canadian Paclite 10y-954%; Duning Rubber Cu-26y 7'50. Hongkong & China Gay-13; gd, Imperial Chemical-13 04. Lyons & Comőke od.
Unilever Lid-00 440.
xper
Bawaler Paper. Carp. Ord-dft.
Radio and Yitetrics: Asociated Electrical—601 Sh. Elegitical & Musical-b467 00. English Electric Co-635 kl. General Electric--32k.
Shipping Indo-China Steam Nav. Co, det |ord=Is fiel.
P&O Stearn Navigation def ord 31 Gd
Blores
'Great Universal Stora: "A"-30%
Marke & Spencer Lid-80s_Bd. Woolworth F. W. & Co-si
Texilies Coats J. & P Ltd-551 Courtauld Lid-31 0.
Anglo-American
Africa-170.
Corp of South
Cans Coldfelds of South Africa-
Cons. Zine Corp. Ord-90
De Beers def-135; Figd, mend."
pt.
Free State Development & Diverte
Hongkong The 90.
Petaling - 30.
Southern Kinla Cons Ltd-
d
Rand- 10.
Union Corp-80% 34,
Wen Driefontein Goldmtning--- 1241 438.
West and cong 200 $140.
British Borneo Patroleum Bydni- rate-mi cựa.
Retir, Petrojrum Co., Ltd=494 DJ, Funnah-BIA
EL Mich Petroleum-£}{
built the Transport & Trading+130(F
SYE(OM.--
1032d opr.
China has taken dependence on
away from Canad For Eastern sources of natural rubber. And
it closely follows on the recent forced closure of the Bank of China-In Malaya
Whether this latest synth stie purchase means that Chinn will reduce her purchaser_ Malaya remuts to be secu, Eut feel thn the most cbservers
Ching rpic expansion of
with call instead for Conomy increased rubber Imports. Last year's total of 150,000 tons expected to be easily excredeti, ITALIAN CHEAPEST Prospicels synthetle
of China buying: rubber outside Italy appear slight. Italian prices of £200 to £250 per ton remaln
on the intern the cheapest
loual market.
China In similar fashion, brundening her purchases at the Australian wool sales. Recent wool heavy buying of greasy are expected to lift her total imports of Australian wool this year far above last year's A£8) million.
England omeist
unofficial Olliers unchanged
LONDON Cizing, ISUS, WATUL *N*w York-
Montreal
Amsterdam Brunel Milen Paris Zurich
2.8) 0/4
2.81 1/2
2.70 13/16-2.75 15/16 100 1/8-10.63 3/4 149.50-14053
1740 1/4-1748 3/4 1331 1/8-13.81 5/8 12.19 1/8-12.10 3/8
Others unchanged.-U.P.I.
༔ 」
RUBBER
Hex
NEW YORK
closed rubber futúfes day 37 10
80 points higher with sales of $7 contracts.
Closing prices:
May: 34.50; Juls 34.40; Scpt: 34.00; Nov: 3.00: Aar: 33.75; May: 31.70.
Strengthened trend today re- fleeted netive buying and cover- ing pronipted by indications of inquiry in the spot ccntinued market from anall und medium Australlan wool brokers re-sized factories and London's to the late ad- port that China is buying three full response
vance yesterday, to four times much greasy
of larger Anticipation wool as last year. At the samu
consumption report time, she is continuing larga domestic
zeale purchases soft and tomorrow also figured in prop- scoured wool which previously ping prices. Spot No. 1 Ras have constituted the bulk of was quoted at 345 cents. her demands in Australia.-
China Mall Special.
Exchange Rates
AMSTERDAM
The rubber market wila steady today. Prices closed in guilders per kilogram, clf May as follows:
No. 1 rupper
1.Ne, 2 rubber
| No. 3 rubber
1/18 pence per lb. Prices:
No. 1 s spot .. Settlement house term
May
28-2016
20000 2015-231
at 14 dignated spot sauckets won 34.00 tents,
Total sales were 13,048 bales. --U.P.I.
METALS
NEW YORK
281-28ead". 20-281 General markets, elf hasli, poru
Parlie G.
Pan American Airways Parmupunt Pictures
Poike Davis Co.
26!
STOCK
EXCHANGE
by
Our Own Carrspondeat
morning
Business done on the long- hong Slock Exclunnge this
kmount d tu up proximately $1,168,000. Noon quotations and the morning's
transactions:
Mares Buyers Sellers Sales
BANKS
SK Banks.
CER ALLY INSURANCES
Union
HIPPING
Lombard
Waterbon Wheelock! DOCKS, ETC.
K. Where Lock
Prevident Talkoo..... LAND, ETC. HK Hotel ik Land
11umphreys
Really HUDBER
Amaig.
1120
023 63 820
234
*
74
103 731,
101
22.73
100 74
435
131 27 6.83 37 3.00
39 201
11.30
53
301 39
24,00 24.70
13
14.00 14.80
1034',
300 341
3833
1000 33
1408 60 DA
400 4 37-*
14.7) 1039 140
1.00 200) 1.60
3.00 1.42!, 250
2391, 2421 2013 240
2.37
2553 2.43
50000 2.40
2 2900 2.2215
Tram 27.1-27.03 1950 nr 21!
Trust
120
UTILITIES
491
Star Ferry
401
Yaumau ..
043
553 TEO BA
20 95
C Light... 18.20 14.30 2700 18.20 1300 z 10,20
27.00 27.00 189L 24 27.83
342
Electric Macau E... Telephone
261 23.
INDUSTRIALS.
200 14.40 1890 or 254) 100 23.40
109251
413 25
Coment. 27 18 27.29 1631 27.10
20x127.2
-1000 ROJ 27.3
Dairy ... 15.40 151, 9470 - 151.
STORES, ETC.
*
1003 15
14-
100314
071
140
JHI
50%
дот
4
Watson
14.30 14.70
100% 14
1. Craw.
10 16.0
COTTONS Textile Nonyang
**
* 3:43
9.15
4.30
1300
2930 v BZD
INVESTMENTS
Allied
4.43
294
344%
New York
Cotton Market
New York, April 22. Colton futures trading today featured the ascent of the 1960 deliverios to new seasonal highs while old crap months backed down after a steady start.
After post-opening gains up to 34 points, the market closed alne lower to 10 paints higher. Opening prices were unchanged 16 1 13 points. New Orleans Mared three higher to severi lower.
The two-way trend unfolded as the market hit a quickening [trading pace.
Strength
the forward months wan coupled directly with the surprizé overnight an nouncement un details of the
47 Government
sales programme
for the 1850 crop.
RESALE OFFER
Collon grown under the "A"
plan which corried 80 per cent
supports,
will be
purchased by local buying
offered for resale the
"by the Governmehl"-"at
highest price offered, plus carry-
Ing charges.
The restle prices also must not be less than 10 per cent above 63 per cent of parity allowed under the "3"
pro-
programme.
44
Petty J. C. Co.
100
T'es Bali Co.
001
Philip Meri
ccter & Gamble Co.
Pitary Bower
Pitsburgh Plate dis Publicker Industries
1031
ní parity
12
Hadio Corporation
agents, and
· 67%
Indio Corp Pret: Roytheur
5472
Prices of metal futures today glored in centa per 1, as fol- low-
Republie Sterl
| Reynolds Melal
7414
Sears, Roebuck & Co.
4215
Be O Co.,
Safeway.lores
May
Jurg/Sput
July
11.155
Basi Heg. Paper
Oct./Dec.
Scolt Paper
Zinc
May
$.070
Sinclair Dil
04
May and June
thin May
*7-20 2015
July
10.131
201 -UP.1.
Copper
Tí
May
31.41b
Hinth. Cilns & French
139)
July
31.770
Socony Mobil Oil
40
May
100.75
South Puerto leo Bugar
231
July
LONDON
Southhom Co. (The)
Bouthern National Gas
Standard Os of Cal.
Southern Railway (Com.) Standard Brande
451
B622
Standart Of of Ind.
Tim spot .....
3- Copper spat 3-month Lead 2nd half April
Zine 2nd half April
Buyers 703
23012
Bellers
Standard Oil of NJ.
TA
Steding Drug Co.
23834
Stokely-Van Camp.
Stops & Wolter
701
30.05 am,
July
Judy
35.03.20
Zitate crepe
thick Moy
COTTON
NEW YORK Prices closed today in cents per lb. as follows:
34.00
31.00 22.51-42
Spot
MARY
July
Oct.
Dee.
Mar.
33.91
May
July
Det.
33.00-071 NEW ORLEANS Prices closed today in cents per lb. as follows:
Spot
34.50
May
39.87
July
26.04
Oct.
32.54
Dec.
Mar.
May
July
Oci.
20.00
פניג.100
Prices of metals closed today in sterling per leng tos as fol- 1cws:
SUGAR
NEW YORK
Altersf
Steep Rock (Trunto Exge.)
Studebaker-Packed Carp.
Suzhine Mining
Art & Co.
Tenda Co.
13% Textron Int.
World No. 4 mugar futures
closed unchanged today to points higher with males of 547 contracta
Thləko! Chem.
Tide Water Aam. Oil
Time Inc.
T-Con. Warrante
Twentieth Century Fox Film
Union Carbide ........
Union Olt of cut,
Union Paclie Railway United Aircraft
Unifed Fruft
Unilect Gas Corp. UA. Foli "B" B. GUTTE Us. Line Co. 5. Rubber US. Smalling US. Ster US. Ste 7 P.C. P.Z. Warner Bros. Waukesha Motors Westinghouse Air Brake Werungcu Electric
Domestic No. 6 sugar futures closed 2 to 6 paints higher with salon of 422 contracts.
Extension of the recent ad-west Va, Falo & Paper
LIVERPOOL Closing prices in pence per yunces b, were as follows:
American Contract
May/Jun July/August
2.10 buyers October/November ara bayers December/January 7.66 buyers
March/APHI
No crepe po 150 bayana BINGAPORE Despite an overnight drop in London the market opened a 15.97 shade higher. There
rather better interest for lower shoots,
steadied during
Busine
was done in the focal unmetal exchange market til morning at Ure following rates U.8, dollars (per $17. .... Sterling notes (per £1) Australian notes (per £1) *. in Indonesian rupiah (per 100) Miam tesla (jine 100)*******
* Singapore (Siraita)
The market
'Hixed Contract
tune
JUZZAugust
crane January Was MACLARE
reflected tho
firmer wins.Dixie Glores tuation is the raw market Woolworth IT. Wy and lessening apprehension over Z Radio chances for a radical change In
1. Cuban marketing palleles.
Contract No. 4 (world) May: $95; July: 2.00:
9.80;
961: 3,04: Jáng 3X2; MKT: TH
$1.00 3.18: July: 221; Bept: 3.21; #poz
93. 128 Teste per lb. fob vitrecte
Oper. Inderer): 7,150
Contrast No. G (damostic) - Jul; MIK: Beat: 081: Nov: 6.1;
20.00
TAN PAULO All prices unquoted Bidny, and duty):
Open InterERE! de contracts In the United States, the U...
做火
243
30%
221
3312
92
14014
49
AK
Agreed Merchant
Rates
Canadian Dollars. Maximum Selling 184 Minimum Puying 1034 TT. 10-15/16 O.D.,
Commencing
the October; carrying' charge would be 10 points, Increasing 15 points each month through July, 1800, but not to exceed 145 points.
A higher domesila consump tion estimate for March helped the rallies. Mills used an es- timateri €65,000 bales in the five-week period ended April 4, compared with 630,000 bales ured in the previous week perlod last year. Consumption for the season to dute wus es- timated ot 0,772,000 balea against 5,433,000 bales last year-U.II.
Mitsui Want
To Mine In Australia
Tokyo, April 22,
The Mitsui Interests want to go into the coal mining business In Australia, it was learned to- day,
The Mileul Mining Company and the Mitsui Bussan Company conducted a preliminary survey this year of the coal-rich areas. of Kianga, west of Gizdatöne, in Queensland, and Kianice, south- went of Sydney, a spokemon wid United Press International.
The report by this group of geologiata and engineers i favourable that a second team will be dispatched In June for a thorough exploration of area, it was said—U,P.1.
50
tha
I