1953-08-21 — Page 91

North Wales Lead Mines Are

Saving

Imports

The growing belief that the mineral wealth of Britain has been foolishly neglected in the past, and could be greatly developed to save imports, will be confirmed by the success of a recent venture in North Wales.

At Llanwrst, on the edge of the rich and picturesque valley of the Conway, a new lead mine using modern mining techniques and engineering has revolutionised ideas about what can be done-

methods-with mineral deposits long abandoned

Industrial Revolution.

A message in today's Finan-/ tatives of labour should have an equal sense of the most notable development and believed to have bean exhausted before the rini Times

Rald thal "the value of constructive co-operation in problems of Japanese Government wproduction and output. alarmed at reports that the South Korean Government exerting strong pressure to have a minimum of relief and recon- struction dollar ald spent in Japan.

Whs

The newspaper's correspon- dent in Tokyo said it was un- derstood that South Korea had submitted recommentalions fo the United States-South Korean Joint economic commission, the supreme advisory body in South

au-

Koren, that the bulk of the 200 millon dollars recently thorised by Congress

for war rehabilitation be diverted countries outside Japan.,

to

that

"The

renson given is South Korea wishes to escape a return to pre-war dependence on Japanese economy," the Finan- cial Times' correspondent stated. "This trend became stronger during the Korean war, when most United States procurement orders, as a matter of urgency as well as convenience, wore placed in Japan.

"South Korea representatives

clalm,

that plsp

correctly,

for needed Japanese costs material are higher than those of other countries.

BITTER FEELING "The underlying influence be- hind the South Korean салі

bilter paign is, however, the anti-Japanese feeling in Korea.

two "Relations between the nations could not be worse short of war.

the

of

United Mr Robinson, in a review of the country's trade position, said at the outset that it was comforting to know that this year the general output of industry had been maintained at a high level, higher than in 1952, and as good as the early months of 1951.

Mr Robinson went on:-"It

It was reassuring also that, below is exports of the years the unemployment figure had between the wars.

to the trend and spended that it was at its lowest point since November, 1951, and that the figure for Scotland, although hot so satisfactory as for the United Kingdom as a whole, had shown also a marked de- crease.

SCOTS CONTRIBUTION The record Agures of output which the steel industry had achieved, and to which the Scot- fish producers had contributed a notable proportion, could not but

ན་

would, however, be to ignore facts to imagine that the way of prosperity stretches continued clearly before us, and it would be avoiding the issue to pretend that, at a time when, in general, commodity values are falling, and when in the majority of trades, a buyers' market has taken the placo or a sellers'. business can be anything but strenuously competitive difficult.

and

example.

ot

a

The bulletin, which covers the first quarter of 1953, and also includes some details of the quarter, Becond

states:

"Estimates, derived from the

United States sido of Europe's

balance of payments have very nearly balanced their current

account with the United States: indood for as long as the whole 12-month period from April 1052 to March 1953 the curent de Beit with the United States has been kept to manageable pro- portions.

"It is noteworthy, however, that of this impressive improve- mont of nearly $2,200 million in the current

account balance, more than one half or $1,400

million is accounted for by im- in the services balance and only $222 million or roughly one-tenth has come from incretsed exports to the United States."

"We cannot, for bring satisfaction to ali sections of industry, One could ignore the effect of high costs in only wish and hope that our shipbuilding nor the re-entry of

Germany and Japan as comprovements primary export, cool, would fol- low the same excellent example.petitors in many branches

manufacture It was not good to know that

and capital con- It may well be that, the cool industry was still so fur

struction.

to other manufac- In relation turing countries, we are in better competitive position than In the years before 1930, but it must never be forgotten by all sections of our industrial society that the competition exists und that if Britain is to maintain or increase the present level of output it is incumbent on every- one in industry to produce of his best at his particular task.

S.E. ASIAN

ECONOMY "WRECKED"

MANY WARNINGS

"There have been warnings by men of all degree as to the of keeping absolute necessity

levels

The bulletin states that the decline in the volume of trade belween Eastern

Western und Europe, which had been under- 1949, continued in way since 1952. In a survey of develop- ments in East-West trade in Europe from 1951 to 1852, the ECE Preliminary orders for

ya: "Compared with saya of the preceding year the fall resconstruction programme

was particularly marked in ex« include building materials for

In harbours, wharves,

ports from West to East. mines,

relation to 1949, however, the cement factories and fisheries.

Singapore, Aug. 20.

re Japanese industrialists had The Korcan war boom has

greater decline has been in the

of been confidently expecting that wrecked Southeast Asia's

goods from East counter-llow to West.

It is also this flow they would receive most of these economy, according to the

our products competitive In the

the more drastic which shows orders.

annual report of the Indonesian-

markets of the world, and reduction compared with "in

pre addition, heavy Invest-operated Java Bank, press re-

this is to be done there must

war levels of trade. By 1052 ment is planned in agriculture, poris said today,

to main- bo strenuous efforts industry: transportation and

exports from Eastern to Western In the report, the former In-tain the costs of raw materials expor

were little power, under a four-year plan doncsian Finance Minister and and wages on their proportion more than one

to European countries

quarter of the for Korean rehabilitation. and the Japanese Government will current President of the Java ate levels. At present, it seems 1038 volume, while the volume Board of Directors, that for many of our products of shipments from Western to certainty resist within the ut- Bank

Sjafruddin Prawiranegara. vigour South Korean al-

wrote: our costs are still competitive most

Eastern Europe was nearer one in international markets, but

halt of the 1938 amount." tempts to divert contracts for The Korean conflict actually

us no advantage brought supplies materials and

this position can very easily away

has in fact, done very great altered, and an inflationary from Japan,

harm to our economic and s0- "Japanese high prices un-

tendency in salaries and wages, doubtedly offset the natural nd-cial development.

unaccompanied by an increase vantage which the country en- "Az

would quickly * consequence of the in production; Joys from its, proximity to Korean conflict, prorent put our goods put of the run- Koren," the

correspondent de-economic and financial situation |ning." clared, China Mall Special.

in Indonesia is no beller but even worse than it was three and

HONGKONG

SHARE MARKET

INSURANCES

Canton

the

but

That self-evident fact WDS

RUSSIA'S ROLE

1

The bulletin says:

"Though USSA with the trade of the Western Europe was still small in relation to the size of the Soviet economy, the increase in 1952 brought it into first place as the major trading partner on the Eastern side, accounting for more than one-third of the total trade of the area with Western countries,"

that the

The bulletin states Increased

was

For lead mining, which was The company that has develop- carried on in the British islands od Llanwrst, for example, has before the Rumans came and already conducted drilling mur- by Elizabethan, times

averys In the Matlock area in thriving export Industry, has Derbyshire, and a new shaft has been more or less extinct in recently been sunle which may Britain' since the middle of the lend to the opening at a recond eighteenth century—before even new

new lead nine in Britain.

the invention of the

fashioned steam-pump. to clear 1048 the Town and Country

,water from the workings.

old- A further point is that since

Planning Act has swept away many of the legal difficulties obstructing new mining develop

dovelop. ment. It is no longer possible

and

מת,

BELOW WATER LEVEL

pumps Today, electric

and the conveyors,

selective for Inndowners to refus

they did throughout. the last flotation process for producing

allow century-io

prospecting ore concentrate at the site of and mining to be begun where the mine itself, make it possible there is a reasonable geological

chance of finding ore.

to reach and successfully CX- ploit lodes for below the water

Llanwrst, in short, may well level which in most cases was

prove the first of many similar the limit of the "old men's"

ventures. British mining and mines.

engineering techniques, develop More important, the diamond en

century in drill for "boring out

past a nalled over the pos

British-owned minos Thundreds of round sample core of rock

Overseas, may now be inesong- great depths

now

makes

to

possible to plot and scientifical-ngly used to develop the little ly assess the wealth of a lode own wealth-in lead, zinc,

wolfram And соррет.

other before actually sinking

a shaft.

metals and minerais—which les The diamond drill has been.

een beneath the land, widely used for prospecting in South African goldfields ald elsewhere overseas. But before Lianwrst it had seldom, lé ever, been used on the lead-zine de-

posils in Britain.

The by

The credit for realising possibilities. opened up these modern methods belongs to

WALL ST.

RECORDS

A SMALL ADVANCE

Mr John Denmson, л British mining engineer with 25 years'. experience of mining problems in Mexico, South America and South Africa. Returning homo to take up an appointment in London as consulting engineer to "Johnales" -- the JobanneE- burg Consolidated Investment

became Company. he

In- tested, almost by chance, in whichs cut the disused "fead / mines of North Wales.

DIFFICULT TASK

New York, Aug. 20, The stock market managed a `small advance today-the first after four sessions of decline some two billion dollars from total market valuations,

major groups closet with gains of a few cents a share on

Drilling to discover the ex-average but the move was tent of the untouched

cautious and accom- ore at tremely Llanwrst was started in 1950., plished on the lightest turnover Mr Denesson recently described since July 21-800,000 shares in a technical paper to the in- compared with 1,400,000

yester stitution of Mining and Betal-

The market was a narrow one lurgy some of the difficulties he

South

day.

encountered. For example. theonly 097 issues. Of these 380 lode of ora which runs like the advanced. 362 declined and 235 fam in sandwich through the issues were featured in response were unchanged. A few special rock here lay nimoet vertically, Instead of nearly horizontally to individual developmenta like the gold reels of

Rails did the best of the major Africs. In

order to strike it groups with a gain of 55 cents. at right angles, therefore, the Industrials, logging most of the fivo

boreholes had day, pulled up to close 25 cents exploratory to be drilled at an angle

gained two cents. higher. Utilities into the gro

Just as they called the recent operation than boring downwards.

market experts called today's The results, however, proved recovery a normal reaction after the existence of a principal lode the sharp losses..

Rails, hard hit in the recent

a half years ago when we took the constant pre-occupation-of all who were responsible for over control from the Nether-

manufacturing, marketing, and 1 lands?

selling, and it was reassuring Sjafruddin charged that if now to note that enlightened there had been no Korean war trade union opinion Was also reaction in the form of soaring much concerned. commodity prices, Indoncela could have balanced her butt wages demands, however, still basic limitations on the growth

art, Laced many industries, and it

of East-West trade by this year without having to

course, mainly the political and wait With "erossed Angers"

Geor economic factors restricting the imtil 1956-the Government's short-term, short-sighted views

availability of goods for export, but the "development of trade would undoubtedly be facilitated at Llanwrst nearly two-thirds of

a mile long and probably con- selling. assumed the leadership If more definito arrangements

| present, alm.

"After the

was apparent That all opinion was not so enlightened and that

still had strong influence ard

V

of difficult und a much more decline technical in nature, the

"One is bound to ask if trade could be made whereby Westerntaining 450,000 sons of lead-zine on the upalde, Favourable July

carnings statesments are expect On the strength of this, it wased to give this group a lift now could be unions are studying with the owned balances in one Eastern ore. same attention means of in- European country

use in another possible to make plans to mine Just as the good first half year transferred for creasing production as they are

the ore. Just over a year ago, reports did a few weeks back. means of obtaining advances in

ICANES,

the Llanwrst mine was ready to Olls had a few wide moves m did elther direction. Aircrafts wages," Mr Robinson added. "It

begin work. may well be replied that the

well with gains ranging to one former is the responsibility of

point in United Aircraft, the employer, while the latter

Dow Jones closing averages: —— 35 Industrials is the province of the union, but

20 Rails today that 15 in outmoded fallacy.

15 Utilities

(From Our Correspondent)

Business done on the Stock

people have ex-sway. Exclunge this morning amount- ed to $328,045. Noon quotations pertenced the extraordinary ad- and tho morning's STAT

vantages brought by the Korean uctions:-

condict, it is not easy to mice SHARES BUYERS BELLERS SALES them realise that the peak in

prosperity

during the BANKS

reached 1K Bank .. 1680 1533

Korean boom had no sound of East Anta 134

solid

basis," Sjafruddin was quoted as saying.

The Java Bank President (the 20 500 19.70 name of the Bank was changed Last month to the Bank of in- 1.45 11⁄2 1500 ₫ 1.donesia and was converted from concern) 200 € 651 private to a public

warned that all Indonesia's re- 8.68 6.70 4460 m 8.65maining foreign exchange would be wiped out if the country's ..0054

budget defleli exceeded 2,300,000 ruplahr.

Uruon MK Fire SIRFTING

Waterboat

Ala Nav. DOCKS, ETC. K. Whort Dork Wheelock LAND, ETC.

250

DOG BED

180

*R

21.70

23

UK Land

01 S'ha Land 3.40 142 Humphreys 10.15 10.40 UTILITIES

F. Tram 10.

P. Tram (N) 2130

Sing Terry - 122 303

100 4 20

"If

THE ONLY WAY

on

or converted.

"Along with the establishment of less rigid payments conditions

COMPETITIVE COST side it the East European should be possible for Western Since then, it has been pro- European countries to provide, ducing some 200 tons of ore a through the

Payments day. European

And in spite of falling Union, increased facilities for

Tues 10 prices-lend is now cheaper than of Eastern-owned the transfer

before the Korean war-it, has balances from one Western

shown that British Tead' can be European country to another, mined at a cost competitive with

it is thus extending the flexibility al-man at a compre

in the ready existing transferable

our industrial position is to be maintained, good wages and good production must go hand in hand-one cannot be

accounts sy The press report said, however, separated from the other. The the survey spys, China Mail that screened observers regardtá best

possible production can Special.

arrived at by mutual only be C. Light (0) 12.60 12.70 3850 12.00 the Korean war as a blessing to C. Light (183

consideration of the difficultie Electric Macuo

"In the Any year of so- and problems involved." Telephone “21.30 21.03 1000 # 21.40 | vexiguty, Indonesia was headed INDUSTRIALS

for chaos with umemployment, Cement

and strices, bandliry STORES, ETC.

Dairy

37.20 2 Eleo.

19 10.10 700 19

$7.00

$2.50

WAEMON .... 22.00

COTTONS

zwa... 214

2000 23 500 3.70

Textile Cor. 31% 5.00 1000

MISCELLANEDUS.

Yangte (0) 6.00 6.00

Yangisze

(2)

Japanese Trade

Indonesia.

to

"

Old Be

Coins May

Withdrawn

placing.

KET.

03 Blocka 40 Bonds **** comm. future prices index.

27173

102.00

BOAS

100.00

96.30

159.30

--United Press.

Liquidation In Sugar Futures

On NY Market

The mine employs about 120 men, but most of the work is highly mechanised. The ore, from the loading trucks tipped pulled by littlo diesel Locome

New York, Aug. 20. tives, goes direct into crushing and pulverising machines which

World sugar futures today Almost all of them knew from

reduce it to a fine powder. The closed one to five points lower terror actual experience that the full

treated in big baths (with sales of 237 contracts. powder of water with

water

Liquidation in world contracto xanthate, a 23 730021.40 coupled with dissiden: pro-Dutch benefits of production incentive factions staging revolts," it said, schemes could only be derived

separating agent,

selective reflected the lower raw · bada It added that the Korean boom it union officials and their mem-

process. By this process a kind and a fear in some quarters that provided work and helped curb bers co-operated from the start

Tokyo, Aug. 20.

of scum containing the ore con- the world sugar agreement, be

might London, 51 unrest, bringing Indonesia back in all the study and ploming

Fifty different kinds of coins centrate is formed and skimmed Ing drawn up in of stability.-United which a sense

Wi

were

necessary before

ced, will go out of circulation if the off. Lead concentrate is their not bo workable because of biga Press.

good schemes could be produced,

Bill to change taken to Chester for smelting quotas, and disappointment over proposed floor and ceiling levels. They knew the vast amount of Diet approved

The domestic contracts were help which an intelligent and Japan's currency laws.. The Bill the zinc to Avonmouth.

One important point which proposes that old coins be de- give; willing tradesman could

worthless as cutrendy emerges from the Llanwrst ve relatively quiet with evening-up in September delivery providing ture le that it has been lack of the most interest. Futures prices they equally know how dimcult clared it was to overcome: hesitation after a certain period.

enterprise

in Britain which has were: and suspicion of something now. In the 83 years since Japan's been responsible for the neglect Contract No. 4, (World)

tho They welcomed

helpful currency system was established these and other mineral de- leadership which would assist in | 17,500,000,000 colns-have been

eposits, rather than Jack of minted. overcoming such obstacles,

The type of rictat used in the knowledge or of the means of colns has reflected Japan's acquiring it.

250 changing

Including fortimes,

surveys

By

sents per ib, tob silver, nickel, copper geologists working under the aluminium and brass.

Soon after Japan's present Ministry of Fuel and Power are Contract No. currency system was introduced concfully shelved and panevad, British Banking advisers sug but soldons if ever consulted by tals gested the likeness of the ruling private enterprise, With the help Emperor be put on the face of of diamroud drille and old recorde is every coin. But Japanese au- going back to the sixteenth thorities objected on the grotinda century, no elaborate new, BUTVEN would be nonded to prospect for that the Emperor was a "god".. -China Mail Special.

other mineral deposita in Britain..

Centre In NY

Tokyo, Aug, 20.

LONDON TIN

MARKET

The Japanese trade centre to

London Aug. 20. be set up in New York, with a view, to promoting trade be-

To tin market/ was barely tween the United States and steady. Spot tin fell 7% 10 Japan, will be opened In Sep-2011 and three-months fell tember, according to

the the same amount to 000 JAPANESE BONDS cold,

Ministry of International Trade Turnover, was 85 tous, of which and Industry.

65 tons were for cash. Prices The centre will be managed closed as follows:-d

Japan by thred officials from They will be assisted by four Boot tin, buyers

Alors Americans who are to be em- ployed in. Kew York,

Three months tin, bugners

sellers The Centre WIT have a glow. room covering an entire floor Busines

Setlement space,--China Mall Special.

Japanese bonda

T

London, Aug. 20,

kyo Bits of 1920) *" (Tokyo ba of 1012) Consola

2013

ind Press,

of

Sept.

March

made for the Glove Day Buy

Sept

May

per