1953-10-22 — Page 9

Inauguration Of New Indian City

President Prasad of India inaugurales Chandigarh, a new city which, in the words of Premler Nehru, "syrobolises India's freedom unfettered by the traditian of the past", Several thousand guests from all over Northern India assembled at Chandigarh to see the President bless the still unfolshed capital, und saw him press an electric button to unvell a master plan of Chandigarh-Express Photo,

Political Skirmishes In

For

U.S.

Elections In 1954

THE CHINA MAIL, THURSDAY, OCTOBER 22, 1953.

Washington, Oct. 21, The Republican and Democrat parties are even now skirmishing for crucial election battles late next year (1954) to decide which party will control Congress.

In more than a decade, the political division of the Senate and the House of Representatives has never been as close as it is now, with the Republicans holding hairline majorities and a Republican President in the White House,

Round-Up In Davao

Manila, Del, 21. Sixty illegal Indonesian immigrants

were reported

teddy to have been round:. ed

town in up northern Davao.

The provincial ron- stabulary conimander. Col. Cielo Veuzon, make there are more Illegal Indonesian Immigrants in other mual. cipalities of the province.

1 deplored fie lack of facilities that would enable him lo

track down all of many of were wall to be

the Indonesians, whom

F

engaged Iri smugellag copra, sugar, cigarettes and uther

Kelictes. Called

Prox.

1.

*

TRADE and COMMERCE SECTION

SENSITIVE INDEX DROPS Industrial Output In U.S. Falls Four Per Ceni The First Decline HONGKONG

Dollar Reserves

Of P.I.

Position Improves

Manila, Oct. 21. The international dollar reserve position of the Philippines has considerably improved over the past few weeks, indicating encourag ing advances made by the country's economy.

The country's dollar reserve of $245 800

How ads at $300,000,800 from

the dangerou.. tow 900 in Argut leg year.

Pes-

• Bùùùm they ruvaded business aley when the Korean are was announced so far since fortiga cand for Philippine

his proved unfounded,

caw meterials and export pro-

Since Four Years

Setback

Ago

By Sydney S. Gampell, Reuter's Financial Editor With the U.S. gross national product showing, in the quarter ended September 30, its first decline since the setback of 1949, caution towards all markets except money stocks still seems advisable.

SHARE MARKET

(From Our Correspondant: nudintis fìdné of The Stok Exchange is inertlig amounted to $367,011. Noon quotations and theng's transactions SOARES BUYERS SELLERS MALES BANKS

10 Bank Erst An INSURANCES

Conton (sub-

divided) Union Hit Fire

K. Whart Dock Provident Wheeloc

The index of industrial output, which is more nocks ETC. sensitive than the gross national product or the national income, has fallen by about 4 per cent from its peak of last spring.

•

from an annual rate of $372.4 billion in

The decline in the gross national product was trifling, LAND, ETC. the second HK Hotel

quarter to 8371 billion in the third quarter, no more than might be explained by the margin of error or by the stability of prices contrasting with the previous almost uninterrupted uptrend or inflation of prices sthee 1949.

are

duch has not declined bait im- proved. The recovery of copra is quite impressive. The price

If there was even the mailed Already their prospects 1/ Manda has one up to fractional decline in US. prices none tog brt, In the five $18,00 T 100 kila $1.00 as a whole in the third quarter weeks fò. October. 7 the outflow higher than the prevailing price (as seems possible) the volume of reserves from the U.S. fell to a tenth ago a $3.50 higher of the national product may sit only $30 million, from S203 than a year ago.

have been a little up, though million 122 the previous Ave only a The ropra price Increase has

weeks. very little, abo neked no

Sindlarty the

the drop in

Kokl да dollar which is

for September were tavos per kilo, three centavos more than could be explained correspondingly ominous. the higher than a menth earlier way by nccidents such as the earned surplus with the world

12 centavos amore than a General Motors fire. So

outside

ETU the

area せた。 both drops are no

worse than mainly with the dollar area) the drop in Wall Street has was only $4 million, far below trendy discounted. Indeed, if that line of Cven ræets! pre- went no vious months, and very seriously

coconut

new Bra at 65 cen. Dudex of industrial output is non..ritain's

relait

HK Lan Humphreys

| UTILITIES

1800

62

256 033 MA

005

2:00

21.40 21.80

12.40 12,70

M2, 3RD 6000 17

7.45 7.00 1

BOO G

Sales Drive Advocate

In

Harrogate, Oct, 21. Sie pliver Etanke former British Ambassador Washington, tüli), the Cotton Board Conference here to- day that the Altish textile industry should strive to win

back

the Canadian market.

To do so price, quality mit style must be right, he said,

Sie Oliver Pranks, making the cluding peeth at the conference, suld the industry should study the possibilities of the Caribbean

| area.

He reminded

delegates that

the industry's export trade had contracted over

other countries

the years as had built up

ann their export trade, and he told them they must not rely loo

400 0.96

Gutch im tradition,

01 10.00 17.10 100 @ 18,50

Ten

Star Ferry

35 30 23

133 Light 101 135

Electric

27.40

"We have a good past," he said. "Let us make it future."

#love

200 m INA Over 1,800 delegates from all

C. Light IN G 2500 Acctions of the industry nitended

5002740 the conference, which

COM- 1500 21,40 rentrated on problems Meso Elec. 9.80

to be Telephone 2280 23.10 1420 @ 23

overcome by the industry. The ENDÜSTUĀLA

main problems-labour produc- Cement. 48.40 10.60 2000 18 60 tivity and mixternisation-took Rope STORES, ETC.

up most of the time in beth the |speeches aid discussion.

17'

Daley Watson

Kaong Sang

Hong COTTONS

Ewu

23.20 £3.30

23.20 2015

102

54 0 154

2.60

Textir Corp. 6.16 0.20 2000

MISCELLANEOUS

Yangtze XD 0.13

In his speech Sir Olive: Franks also commitud on the general economic cutitok, hut emphasised that his views were purely 2000 год 120 2004.15 personal.

233004 6.28

He did not lennw whether there would be a recession in the

apart from

Exchange Rates United States, but

Jwlt]t*s-

the question of In recession he vast teotomy was done in the local thought that a hyunoiligini

nurket this must padze and hesitate al some exchange Inoying at the following rates;

time. Dut The United States U.S. dullat per #1)

her miernal Sterling notes iper £1

months

to fast

The

April, gure was generally about million a month or more.

MAY GET WORSE

September figures for

when

$75

The American voter will go to stola of the dive to capture year ago. The polla on November 2

the votes next your. to elert 35 of year

NIC 16: It is rot the pitern for

Arather mater dollar varner. Senators and all 435 members the House and Senate membershimp, has kept at a level main-the business drops jet the House of Representatives, | who are using the Congressional ! Talolog furt your's figur, 11 further, Wall Street would have below the plane of the

This

vote

well at $21.50 per over-discounted them and would up Will determiniereuriss how to campaign in their inve whether Persilent

› Idruk. Eisenhower home States for re-election.

dollar less be due for a rally. only half a will have for another two years

than a year ago and a As of now the party strong lower than the month before.

dollar But the indications that Continued Republicus con- in the Senate 1 47 Republicans,

the business drops will fot of bolly houses;

The price 47 Democrats, cne idependent,

centrifugal further. t༣f

Good reports Tupar 1 Deperat control of boab

now 97.70. the sent

¡partment store and other formerly held by the late Re-

The most impressive recovery not gainsay this

sales, if they stay good, will both the U.S. and Britain were 3 Apht dreydon with Republican leader, Senator Hobert

prosprel, des fillected by Lloyd's payment of paldamiss ontrolling

among esport, staples, however,partment store sales are nearly sume Imurance money for and Taft of Ohio,

was displayed by sif tobacco the Demoeris, the ather,

the curreal prices of which are

always slow to respond

disastrous L

fre ht General The opening of the 1954 Con- gvesmond campaign more than a year ahead of the elections was signed by two big party conferences itect fundraising The current opinion among dinners, at which the guests paid "neutral" Congressional authors 100 thellars

235 14 es at Lubout

at this tomeut is that the skullaug sterling) for a 5-dollar Demverals have excellent (about 35 shillings) mont.

eimanges of capturing the House,

In the House the standing is: 218 Republicans, 213 Democrats, one Independent, with three Re- publican seats vacant. A bare House najority is 218.

Speeches by Fuck figures as but that the Republicans should

ago,

the

aiTalrs

Indonesian Kutlders (per 1001 18.30) with great skill, and in a healthy Stam teal (per 100) Singapore (Straksi

pause would not be

16.82 managed

1,110

17% coneix a

Sir Oliver said a committee

Indo-China plustres per 100) aas too stvore, he said.

N.Y. Cotton Prices

New York, Oct. 21.

365 nom. 32.03

would be reporting on tariffs to

The Unded Sttes Government in the spring, but he thought the results would be medest. There might be Hight Improvement, but not great alterations. He thought the world

might be new phase when moving into a 330 nom. violent events disturbing world 31.00 non.

now way above those of a year changes at the head-waters of Motor's plant near Detroit. The Pics of cor futures closed

The price is now quoted the business stream. ]{ the payment may, have been around Inday as follow:- as high as $61.50 per bale as U.S. business curve hus merely $10 millon, since, it is believed, Spot compared with 550.20 the mouth stopped rising for a bit, it could, a third of that fire loss_fell on March 1954"

efore ad $32.00 a year ago. on the 1949 precedent, be quite Lloyds which paid is in Septem- May

serious for

non-dölfar |ber, some

It should be noted that stigar, countries.

coconut oil and hemp coprn,

cotaprise the bulk of this enun- try's expults. Should the cur-

ale Esenhower ant party chiefs be able to retala enfrul of the levels be maintained, at of the Republican side, and Senate.

least till the else of the year, Philippine clotine varnings should pick up in the next few

fermua Preskiet. Truman and Such a split dection would Bir Adlai Stevenson for the spell new trouble for President! Democrats constituted the open- Eisenhower whose legislative months and there would be a furlier brest In the Interna-

Freedom Of

Of Press Stage Nearer In West Germany

Frankfurt, Oct. 21.

West Germify" has gone another step towards Freedom from Allied control with the Americans closing down their German-language daily newspaper and the British selling theirs to

a rising young German publisher.

All daily newspapers in West Germany, are now under German ownership again.

programmes would have to passional reserve.. through the hands of the rival

silver IS A

The Rubber

Markets

Prizr

else i

Dec.

July

Dit

But this lucident explains Dec. only a small part of the recent Maren 1985 trend which.

moreover, might stil, worsen. U.S. Imports, and | thefewith the dollar catalogs" of Britain and other countries

are

very highly geared to changes in the U.S. gross [nations product.

Foreign aid payments by tie U.S. have been holding up

party. The party in control hai Also continuing

Singapore, O 21. wonderfully well-Britain's ad majorities 41 all Committees lining in the econzmic_horizon The market opened work pad |receipts actually increased and also holds the intuential is the Philippine-Japan

barter decathed further- ca-selling September-but they could still Count Tee (Sulmausbips.

peet, the longer end of which is pressure,

the

Philippines For follow?"

No, 1 rubber per 1. Nev. the week ending Sept. 25. last, 1 Philippines registered 20 favourable not balance

THE GDDR

Legislation Ingst have the ap- proval of both the Senate and the House before it can become law, although there is an excep- them in the ease of alification of treaties which can be clone by the Senate alone.

The last time Congressional control was divided between the two major parties was tn the depression

years of 1030-32

beld

>

Deo. Jan

of No. 2 rubber per Ib. Nov. $300,000 in barter trade

with No. 3 No. 4 Japan. This should change the Spot rubber unbated

prophets | klanket crepe tune of the economic who have been predicting the No. 1 pale crepe worl ince the Korean arimis- thee was signed.-France-Presse.

when President Herbert Hoover New

Republican Senate.

had a Denerat House and

In the opinion of the political analyists, the Democrats have

mathematical oils against them

in Senate,

But in the

The Western Allies, however, standards of a free West German favoured by the traditional still have the right, to ban newspaper ir it publishes

press.

material which they consider Most German newspaper threatens the security of their published today らい soberly

A ban by one of the presented and print a high pio. usually results in gains for the

portion of foreign news to help opposition,

forces.

Allies does not necessarily coin- mit the other two.

keup their realers informed on The West German, press with world affairs,

tree of all Alllel control when

the Bonn conventiona replies!

the

occupation

Instrument governing

dully

10

err

***ne privately-owned. The conventions are tn

six nation the

8,000,000 volcs

There

Only once in the past decade has the

the party in power incrensed

York Sugar Market

Contract No. 4 (world)

January 1954)

esbecomie (1 victim of the US.

Treasury':

effort to desperate A 564stoy under the debt ceiling, and Blysis, of the Congressional tradition

3-6 particularly of Republican Con- 511-513 470-172 gresses--that the things to do in 636,546 uncertain times are to retrench and to see that charity begins

43-14 41-43

20.20

20.23

20.05, 20.33 num

20.33 0.

340 nominal

3.00

-United Press AMSTERDAM MARKET

Amsterdam, Oct. 21. No. 1 rbber per b. Nov, 1.0) buyers

Wa5

ro-

May July September Spot-cents per lb. fob

Cuba

3.00

3.12

J.11 bld

3.10

Contract No. 6

No. 1 erepe rubber per 1b. 1.74)

--United Press.

at home.

33.-I

33.66

33.50

34.15 .conomy we

Josa

likely to

-United PreRA. Fhappen-Chira Mail Special.

Big Spending By

Canadian Knitwear

Woollen,

Industry

Toronto, Oct. 21.

By the end of the current year, the Canadian woollen and knitwear industries will have made post-war capital investments amounting to more than $127 lion in order to keep pace with the latest developments in the textile world.

This is according to Mr A. L. Code, President of the Canadian Woollen and Knit Goods Manu- facturers' Association.

manu...

United Press. LONDON MARKET

The causes of the iceline in Lendon. O 21. the U.S. gross national product Rubber ons steady but easier lust quarter were A moderate with Rss sp quoted at 10% decline in the rate of inventory pence per 15. levest since March accumulation and some decline 24. 1950.

in construction. Both lool: Closing prices were:

1815-16, ominous for coming months. Spot No. 1 .. Settlement House terms:

Nov.

2612-10%

ALL SIGNS

Dec.

1632-1035 If the holders of inventories 10%-10% Jan./March

Mr Code sold New York, Oct. 21.

choice, 16-103 had had their

There

that of total petition from Britain and Italy April/June their drive to seize the World No.

been expenditure, less than one-eighth diso developed. 4

164-161 | would probably have sugar futures July/Sept

At the end of -United Press closed today one to three points |

[something for worse than was for new construction.

n

The 1962, the nine Canadian Arms House they

NEW YORK MARKET are lower with sales of 160 con-

moderate decline in the rate of major part of the sum had been manufacturing this line of goods tracts.

New York, Oct. 21.

Inventory accumulation, namely used to purchase the most up-were employing 418 workers Dec.

to-date machinery Yoting trend in

Domestic No. 6 sugar futures mid-term

some outright cutting of inven-10-

and equip-against 1.114 four years earlier. March 1054 closed unchanged to four points May

ment and bring facilities into torics. elections (in which the Presi-

line with the lower with sales of 481 which

con- Į July

that not involved)

best and most There has been a steady in- All the signs are dency is

there Sept. tracts.

20.35 nom, will be outright culs in

efficient in the world.

crease of import inven-

of fully- Dec.

However,

fashioned hosiery since 1051, 5 tories during the present qui-

the industry

far in 1953, Canadian mills have battle against ler, particularly in and Inghting a hard

cara

dezen pairs per ear-makers inventories of steel, forolgn compstition on the home sold 303,000

With the new models coming market. In wool fabrics, total month against 248,000 dozen in No. 2 Rubber per lb. Nov. 17 hvers for them, car dealers are over consumption showed

the comparable perfed of 1951. a steady No. 3 rubber per lb. Nov. 154 buyers loaded with old inodels and will decline between 1940 and 1852,

However, Imports which at By that tiene amounted to 13,000 With nominal have to get rid of them somc-

aslight increase recorded

dozen in the first four months of the how,

pairs per month, have The decline in the tempo of

current year. However, Canadian risen to about 58,000 dozen at construction appears to be

mills have not due

participated in present. this

Canadian Inercased business and their lo

wool cloth public construction that financed by the Federal, State share of the elvillan wool cloth facturers consider the muximum market hus fallen from an duty of 30 cents per pound ori and local governments. For the

wool fabrics brought in from the *per cent first three quarters of this year

nevere as a whole, public construction 150/52 to 61 per cent in the UK to be their mest

first half of the, current year. [handicap,

when This duty, During this

period, supplies favour a few special British nally Imposed, was designed But all or more than all of from the UK (the main outside

source) continued to arrive at products which were not com this may have been due only tu

**an annual rate of 15,5 million petitive with Canadian goods.

On the other hand Since the

of this Imposition have been a slight fall in volume of public construction.

13 Fer cent below the average and prieca have risen to such an In any case, even on the money monthly rate for the first quarter fabrics imported now can take

extent that most

of the UK úgures, the gain over last year

In the carpet and rug markenndvantage of the tell from 10 percont in the first

maximum rate. producers have bee quarter to 2 percent in the

hit still harder. From 00 per Local manufacturers have been third quarter.

cent of the domestic market in pressing for the abolition of this Inventories and publle 1035/38, their share tell to 48

maximum

rate. This would JAPANESE BONDS-construction are further poten cent in 1951/52, while mean the imposition of a tariff

ilai victims of the effort to stay current

"indicate about 21 per cent Instead under the debt celling. Expan Cure the proportion will nurther the onective pain of rotundif sion of

works is a trad)- public

th

year, Half Canada's per cent which UK woollen cloth decline 834 tlonal anti-recession

niensure, Imports come from Britain, while is paying at present, 7014 1342 but the US Treasury can hardly Belgium and India also ship The concensus is that if im-

it when resort to

IL is already substantial quantities.

ports continuto to pour Itito shaping, by the end of the year, · Japan increased tta share of Canada at the present rate, a to have exhausted almost every the market for knitted gloves number of textile. fits who cent of the borrowing power and milfs to 20 per cent i 1652 have been struggling for some 03% that Congress has allotted from only tix per cent, in 1948, time.will decide to close-China

for the present.-Reuter.

while in 1931 and 1852 com-Mall Special.

the

оп

face

November January 119341

March

May

July

September

than Republican

21

arc

at

onc

The left

November Spot-cents per b. cir

NY ex-dock)

March its strength in the House in the Most newspapers today claini{mid-term elections. That

of political in 1934 when, under Presiclent statute as .e to be indevendent

in fact, the Roosevelt, the Democrats relations Parties, though,

overwhelming majority are con- versed the trend. between West Germany 49 [servatively inclined. Nearly all Britain, France and the United

HARD FIGHTS States.

Democrat party leaders The Social Demcerais, Jaked European Army Treaty and both main Opposition Party in West Privately admit that they

the Senate. await

uphill fight in ratification before they can Germany, which Rot nearly come into force.

in the general In the first place, there are more few weeks ago, the British election ra September 0, hus less Democrat

at Blake Ju the High Commission renounced the than a dozen dally newspapers Senate sents sale of Die Well, one of the which support its catse in vary-1954 elections. Of the 35 places Jargest and

to be contested, most Influential ing degrees. In West Gugmany, papers

are several Communist present held by Democrats and ferr Axel Springer. a 41-daily newspapers, the chief one only 13 by Republicans. year-old Hamburg newspaper being the Freies Volk, published remaining seat is the

Party by publisher.

vacant headquarters

Senator Taft's death. by

10 of the contested About ain-Duesseldorf. Their circulation The

Higli Aindrican anission newspaper.

Die Neues secret, but

tradi- Democrat seats It is believed to

are in Zeitung, was closed down in the be less than the 800,000 votes tionally Democrat strengholds in.

there is first half of September after the Party got in the last election. the South but

None of

prospects Germany's former big concern over the running since October 15, 1945, what it was published

such as the on the papers

the Frankfurtere conservative Mkl

Weat utsch

where three Democrat Senators, of General Dwight Zeitung, the D, eu.

then

of Berlin, Mr Paul Douglas of Illinois, Mr the Vossische Zeitung, of Berim, Hubert Humphrey of Minnesota, still, ever.or is

or the Koelnische Zeitung has ond Mr Guy Ghetto of Town,

are facing hard fights for eing published in Weat Berlin appeared since the war.

It special

election. recently reported, position behind the "Iron however, that the Frankfurter On the other hand, the Re- Curtala

Zeitung # prominent. Inde publicans are not too happy Jounalists agree that both pendant conservativo poper which over their candidates' chances of Die Welt and Die Neue Zeilung survived into the litter period, re-election la

Now Jersey, played a major role in setting might stort publishing again Massachusetts and Kentucky, *- the post-war Democratic next year.--China Mail Special. China Mali Special.

instructions Eisenhower

Supreme

An

Commander gemelne Zeitung,

cdition

because

of Berlin's

was

at

Komb

4

5.05 bid

5.4.3

3.49

pominal London Foreign

3.02 bu

3.09 nominal)

6.40 United Press.

LONDON TIN MARKET

London, Oct. 21. The tl market was barely

fell stendy, Spot

£24 CB10% and three-month the same amount to £500% per long toll.

Turnover was 50 tona, none for cash. Prices:

Exchange

New York Montreal Amsterdam Brisels Oslo

Zurich Copenhagen Paris Stockholm Lisbon Deutsche Mark Blocked Mark

higher than percent

Lodon, Oel, 21. 2.01-2.0136

was 6 İycar cartier.

10.0216-10.023

140.10-140.15

2.70 7/10-2.70 9/10

19.0834-10.98% 12.183-12.10 19.374-10.3811 VR076-3507 14.49-14,43 11,70-11.711 1814-1814

United Press

Lontion, Oct. 21. Japanese bondis

re-

Spot th

buyers sellers Busines

"A" (4s of 1890) "B" (49 of 1010)

916

"C" (Gs of 1907)

DITU

"D" (Os of 1924)

104

(of 1030)

101

3-manili tin,

buyer teller Burines

"E" (Tokyo of 1920) .04

SOTAL

671 Consols

***Untied

"G" (Tokyo 51 of 1012) 103

Unted Pres

average

of 05

[higher prices, so that there may in production in June was traximuri duty, however, costa

the

ey

Canadian