1953-11-06 — Page 9

THE CHINA MAIL FRIDAY, NOVEMBER 6, 1953.

Crown Prince Akihito Returns Home

11

Crown Prince Akihito of Japan, back from bis six-month tour of Europe and the Journeys at the United States, tells his father, mother, brother, and sister all about Imperial Palace in Tokyo-Express Photo,

Dr Syngman Rhee Manoeuvring To Gain Still More Power

Seoul, Nov. G.

Following the armistice. in Korea, President Syngman Rhee has begun manoeuvres to gain more power in South Korea, and there are indications that his ultimate objectives are to win himself a life-time Presidency and the right to dissolve the National Assembly.

Whaling By Helicopter

Tokyo. Nov. 5. Japan's first helicopter for searching for whales christened today was Kujira whale) at Tokyo's hellport. The

helicopter awned by the Talyo Fishery

Company. will

Since the armistic, he has sul terisily reduced the power of any cely oppodi...

Soth Under

perm Korten Constitution, the

Nid the sident cannot

re

ful members of the President's Dr Rhee raised the faction, deputy Finance Minister, Palk H5 Hyen, to be Minister, im- thr: Dr Hthee himself Preplying

Men would handle United States re- Tor more than two consecutive habilitation ald.

trms. Dr Rhee's second term will end in July 1956.

Korea. Foreign observers in nated the growth of Dr het's Pigaturity during his nevatia- c- Ber with United States

per- betafs who were trying to

uade him in agree to a 1020

Korta. Although

This

Fourth, the President ordered the dismissal et 25 per cent of al government officials. nction cut down administra- tive expenditure and was also a means of eliminating opposition elements from Government posts,

TRADE and COMMERCE SECTION

Page

Markets RALLY IN

Tonnage Replacement The Rubber ANOTHER Now Becoming Urgent Problem In Britain

MANY CANCELLATIONS OF ORDERS

Report of the council of the Navigators and Engineer Officers' Union, presented at the annual meeting M London, refers to taxation and the cost of new tonnage as two factors which are, adversely affecting the more rapid replacement of obsolete tonnage in the British Merchant Navy.

In the opinion of the council, the report states, the shipping industry should be enabled to provide new tonnage out of earnings. thereby avoiding dependence on external finance for the modernisation of our Merchant Navy.

With taxation at its present rate it is impossible for tonnage to be re- placed on this basis, and the result of the unimaginative attitude of successive British Governments in regard to taxation of British shipping is evidenced by the decline in our dry cargo tonnage and advancing age of much of that tonnage. If shipping is to be expected ping services in active commer-

are

in the future-as in the past...elal operations. The council is to be a main contributor to our balance of payments position, it is the duty of the Government to make it possible for obsolete tonnage

replaced by modern and efficient ships.

to be

In the considered opinion of the council this national necessity cannot be achieved. If taxation continues to be levied the industry at present levels.

CLEAR INDICATION

сп

seafarers' or aware that the ganisations of these countries exercising what influence they can to secure ratification, thus displaying

considerably iban either more imagination their. governments ship. owners.

or

HONGKONG SHARE MARKET

Lombard L'nlon

JIK Dank Enst Asia

1810 1513

109

57

£40

Waterbakt 19

K. Wharf ... Dock

SHIPPING

DOCKS, ETC.

21.70

500 4 57%

VOLUNTARY BASIS

(From Our Correspondent) Sorfous diuntions require, on occasions, drastic remedies, The Business done on the Stock council therefore suggests 10 Exchange this morning amount- her Majesty's, Government thated to $512,270. Noon quotations. they take the Initiative and, and the morning's transac- with those countries who have tions:-- The council, however, cm- phasises that if ways and means ratified the convention, establish SILARES BUYERS' SELLERS SALES

machinery and

BANKS in organisation be found to assist can

the on a voluntary basis, so giving shipping

In industry

the lead to the maritime countries INSURANCES direction indicated, steps must of the world, which would be be taken to ensure that any tax warmly welcomed by many, rebates are frozen untli

Furthermore, the council be time GS

elther lieves new ships are

that if ordered

The of this kind were taken many of courageous steps delivered. or urgency of the problem may be the Important

maritime coun- gauged from the fact that taxa tries of present silling on the tion, together with the cost of fence would quickly realise new tonnage, has resulled in that they could fl-afford to re- "impractical"'

In addition to these major

new ships being main aloof from such an or- for majority of South Korean clti-stepe, Dr Rhee arrested the editor

Surely no clearer ganisation. Drivately

Dr of praised

the Influential

indication is needed, and unless newspaper

The council is not unmindful Rhce's shrewd diplomacy which "Yon Hap Shin Moon," Chong the writing on the wall is heeded that the constitution of IM.C.O. for some lime kept the world Kuk Eun, the formes army in- Britain's maritime position may provides, for the establishment wondering what he would do formation officer, Brigadier Kin be seriously undermined, and of a maritime safety committee.

Chong Pyong, three other

unemployment for seafarers, and is of the opinion that Koreans almost unanimously colonels, and the former depuly atilluted to Dr Rhee the sus-police chief Kim Sang Bon. They cers of bringing the United

charged with espionage and States 10 conclude a mutual

an anti-Governmen! security part with South Korea/ and grant financial did for her rehabilitation.

critics many

at- tacked his ubbornness and

demands,

be pul mother ship

Zeral

aboard the Nisslin Mara (17,000 tons) of the whaling fleet.

The

helloopter

equipped with radio direc- tion Ander and is capable of cruising for four and a half hours at a stretch at a speed of 60 miles per hour,China Mall Special.

SHOWING GOOD MANNERS

Belgrade, Nov. 5.

next.

the

STUMBLING BLOCK

The biggest and probably the most difficult task which Dr Rhee favour-ne la Encouraged by this

has in prospect is gaining muro able local trend and relleved

in the South Korean power temporarily frein exhausting National Assembly,

negotiatione the International President has now taken steps political

to consolide his position act

10 #dicamline" his machine.

TEMPORARY MOVE? First, he ordered all existing A high Yugoslav source said today that Yugesinvia's Cominou corpa to disband and to Join the militia, commanded by

sccmed to

which it was hoped was a thing of life at sea is of such impo, a

of the past, become reality of tance that it should, in all its the future.

aspects, be kept continuously Germany has now a fleet

by, a specialised sta review approximately

gross staff. It 11⁄2 ຕາຕ.

is not sumetent for ions, and over 1 mn, tous build-this matter to be dealt with by Ing. Japan has increased from periodic diplomatic conferences 1 mn. tons in 1948 to 2.8 mn. at intervals of 20 years, and the In 1032, and has a substantial council, hopes that steps will be to establish, even if on, a taken number of ships on order.

Such are the issues facing the voluntary basis, the Interna - claims 104 Assembly members Industry, and it surely cannot be tional machinery envisaged by

Intended that taxation and high the convention. building costs should succeed where Hitler failed, namely, to drive British shipping slowly but surely from the seas of the world.

Party Dr. Rhee's Liberal

The sol belong to the party. legal opposition, the Democra

21 tic Nationalist Party, has members in the Assembly, and The rest of

of the 54 independents.

the

Liberal Party's claim, voting in the past has showed that only form neighbours

a frithful follower, the former 50 to 54 members actually voted have abandoned their deliberate Defence Minister, Shin Tai for Dr Rhe's

secret Dills in of creating border in Yung. policy

This action tended

ballots, although in open ballots cilents and recently had begun Lao

opposition power 104 members vote for Dr Rhea's to show "good manners on the prevent any

frem

to build Bulls. attempting frontier."

rolideal machine among Korean Dr Rhee has another card ir Albania, with whom talks on youth.

frontier investigation of

Membership of the militia ishe meets diflculties from the pressure by Dr Rhes, the Assam- cidents broke down in Septem-expected to itach 3,000,000 by Assembly. Last Summer, under ber, has now offered to reopen June, next year.

bly approved the celablishment This action virtually deprived of a 00-member: Upper House. Of the talks and to meet Yugo-

formerly спос

powerful the co members, half are to be slovia's objections, the

Tource the

Independent politician, Les Bum said.

|Suk,

the appointed by Dr Rhen. He had regarded as

bút the election, negotiated President's nearest

of not ordered rival,

could do it whenever he thinks agreements with Hungary and practicni influenze.

Yugoslavia has

21-

chez

Rumanla on the joint investiga- Second. Dr Rhee dismissed necessary-China Mail Special. tion of frontier incidents, while his Home Minister, Chin Hyors the Soviet Union, Hungary and Shik, and replaced him with

Han Bulgaria again have full diplo-ttle-known judge. Paik matic representation in Bel- Sung. Observers said that Ghin, grade instead of only Charge during his 12 months of service 100,000-man

d'Affaires, which all Continformational

chief of the

countries maintained there be fore Stalin's death.

disclosed

he

will

Village In

30.00 An Uproar

be

at

had been

In

COASTWISE SHIPPING

Provident (0) 20 13.70 2000

Wheelock LAND, ETC.

HK Hotel HK Land S'hal Land Humphreys

UTILITIES

(N) 11.20

Tram...

7.70 -7.00

2000 e 21

1.00 11 10.30 16.70 ---

Star Ferry 130

C. Light (0) 13.50 13.00 2000 6 13.70

C. Light (N) 9.00 9.43 0000

12300

9.03

9,05

London, Nov; $

Spot No. 1 Birs role, 10-163⁄41⁄2

Seulement House terms;

November

December

January/Marchi

April/June

July/September

CIL, BABI ports.

Nov.

1742-377 -1076-1722

Cif. baule," porte, Dec. 263-107%

C... Axis, ports. Estale crepe thick

unqueled Estate creps in

-United Press. NEW YORK MARKET

New York, Nov. 9.

December

Aarch (1954)

May

July

September

December

20ked 20,85 asked 20385

20.55 30.85 asked 20.03 oaked “United Press. AMSTERDAM MARKET

No. 1 rubber per lb.

No. 2 rubber per. Ib.

WALL ST

New York, Nov. 5. Stocks surged ahead to a new

the recovery in

most active session in two months as fav ourable market Influences con- tinued to hold sway.

Individual gains ran to a dollar a aharé and more in kolk the Industrial and rail groups. pushing the former to a high since last April 2.

Trading Increased sharply with sales for the day totalling 1,720,000 shares, the most since September 15, and com- pared with 1,480,000 shares yesterday.

Commentators continued to. Nov, 1.55 buyers cite the generally higher third

Amsterdam, Nov. J.

Nov. 1.57 paid

Nov, 1.03 pald

No. 3 rubber per 1b. No. 1 crepe rubber per 1b.

1.78 nom. -Untied Press.

LONDON TIN MARKET

London, Nov. 5.

The in market was firm.

quarter earnings, and

many higher dividends $15 market spurs. Also according to returns

analysts, the election

indicated to many that the Government will move to pre- vent recessionary tendencles to the extent of invoking inflationary measures.

even

Dow Jones closing averages: **

Turnover was 75 tons, of which 30 industriots

30 tena were for each.

Spot tin, buyers

Business

420

370.00

20 rails

07.43

Befters

91715 utilities

31.49

620

#5 plocka

100.24

3-months in, buyers

0071 40 bonds

$7.27

Refere

сод

Comm. future price

407-4 Index

.168.20

United Press,

Business

Settlement

020

United Press.

Increase In U.S.

Private Investment Abroad Expected

1

London, Nov. 5. The post-war climate has not favoured com- 12% mercial investment overseas. Nations with 8.55 8.70 29008. surplus of savings, notably the United States, have found adequate investment outlets at home, and nations that needed, foreign capital have looked with suspicion at the private commercial lender.

There has been talk of "exploitation". and of the burden of profit remittances. Governments 27.30 have wanted to borrow, but have preferred to 24.40 borrow from other Governments, feeling that aid

from private industry was in rogatory to their dignity.

Except In certain newly,mittances. This may be lessened liberated territories of the Farit the projected British plant East this phose may now be re-can be expected to carn dollars, 2000 6.00 garded as over. The American or to save dollars. 10000 160 Government has announced that 10000.00 its-lending is shortly

Naturally enough it is rare. for to-end, an-American subsidiary In Bri except for strictly military pur- tain to export to the United poses, and that the remaining States, although this has hap- Brivate

Electric

27.20 27.40 000 Macao Elec.. 100 24 Telephone... INDUSTRIALS

STORES, ETC.

Cement None

900

18 18.40

17

23.20 1200 @ 23.10 23.10 1000

21.90

1. Crawford .23.30 COTTONS

Ewo ........... 2.45 Textile Corps 0.00

Dairy

Watson

some

sense de-

Grain Prices dollar gap has to be filled by pened to the embarrassment of

to

In Chicago

a reference to coastwise shipping, it is stated that the council has given attention

varied issues many and The council expressed its sur-the

the dilatorinces of many affecting the interests of mem- at prise

Chicago, Nov. 5. governments subscribing to bers serving in the coastwise

and the convention providing for the

Prices per bushel in cents: short-sea trades. establishment of the Inter- One of the most contentious Wheat, No. 2 red

and

governmental Maritime Consult Issues to the discrepancy so.fre- Spot

Dec. 190(H) 197%(L) alive Organisation. The orquently existing between those March 1954 ganisation is required by the officers whose hours are regulate May convention through Governed directly as compared with July mostal action-to

Corn, No. 2, yellow the senior officers whose overtime, is encourage the seni mo:tal

Spot removal

discriminatory compensated by means of a con- of

Dicc solidated payment. This matter March 1934 practices

unnecessary restrictions by Governments has been the subject of negotia- May shipowners, but July which affect shipping engaged tions with the

Riye in international trade, so as to no adequate solution has yet Dec,

March 1954 promote the availability of been found.

It cannot be emphasized too Oais shipping services to the com- merce of the world without forcibly that in many coasters Dec. discrimination.

the carnings of second offers, March 1034°

Soybeans, No. 2 yellow when carried, and in many cases

Spot those of the ratings, are in excess-Nov.

total

emoluments of Jan. 1054 The convention, adopted near- of the

If this state of March

13 RATIFICATIONS

ly five years ago, was signed by senior officers.

May

22 countries, wed, to date, has affairs is allowed to continue, July received 13. ratifications. Of many oflears will And that they these, even have a million tons cannot afford to be promoted,

entity are

of

shipping or more. The two latest countrics to accord Halli. and Argenting

tons

ANOMALIES REMOVED

Spot

Barley

York flour, Now $10.10-United Press.

The

108 nomi. 10816-56 201

10312-15

2021

American investment the United States parent Recipient countries are, there- fore,

overhauling the exchange

Dollar maving production is more common and in this con control Bystems that have nection it must be recalled that hitherto served to keep money Britain finances not only her own out as well as in, and are trying dollar deficit but alib the dollar to make them work

ane way needs of most of the rest of the only. The Dutch Government runs an advertising campaign induction which

sterling arca, so that British pro- relloves, ay, the United States to draw at India of the necessity of buying tention to the facilities available in the United States is effec in Holland for any

American

business that may want to starttively dollar saving. up a European subsidiary, and 14746-43 151-182 even President Peron. the ad- 1523-vocate of Latin

18244-139 te

1212 12014-15.

BIG REWARD

American Before approving an Americor economic nationalism, has re-investment, the British authorl- cently addressed some kindly ties weigh all these factors, and words to foreign investors. then start bargaining. They seek The British Government is not to prune the American offshoot's advertising. but it has taken dollar spending plans, improve steps to ensure that foreign in its dollar earning, or saving, vestment applications are dealt prospects and so on. The pro- 21714-277

more speedily, and that cess involved and complicated, 2004-201 the security of actual invest-but the reward open to survivers

ments is guaranteed to the of the ordeal is considerable.. Ez81 owner. Thus since January 1950,

7216

27715

130-1012

with

They ars inside. the sterling-

foreign Industrial investors here area fence, with an opportunity.

are allowed to withdraw their

to keep trade connections there

exchange

ished; they can draw on tie

markedly

t wage rates the United in. and,

u. raw material

b. anck capital, and capital gains, pro alive until the great day comes.

vided the original project was

controls are approved. The remittance of Interest and profits has always British labour force at The Council, while sturing London Metals

been allowed.

below. to the 1952 annual report of constwire members that it will

The question of official: ap- London, Nov. 5. Lloyd's Register of Shipping, continui its efforts to find un

equivalents, 1,033,571 Argentina owned

was proval still remains. The British, States metais market acceptable solution to this most

turnovers for copper, Government does not welcome singly, on of shipping. It should be noted satisfactory state of affairs, steady,

American company, that, is supplies at competitive world. that the convention requires danws attention to agreements lead and zine being 275, 450 and an

if they merely trying to jump Inside the market prices; ratification by al nations-seven

buyers sellers sterling area fence, and which alight on a development area the of whom possess a million or negotiated with the North-East 680 tons, respectively.

2330 £237 will Coast and South Wales colliers

genuine In-British Government will

build more tons of shipping before cit

75 2331 Will not bring any.

cronse to Britain's Industrial the factory for them. tho. machleery envisaged by the which have overcome the dif-

Broadly, speaking an For social and strategie 101 potential.

American Investment will be the British Government seeks tó welcome If it produces Home offset the natural tendency of new machinery .or apparatus industry to concentrate. us two that ie not avaliable elsewhere main areas, London and the Mid-

and Industrial "know how,"

convention can be established / Ce realising that special

Police and

had treng Railway Police, recured enough power

to be The source

that come "dangerous." They con-

Tokyo, Nov. 5. Tugcalavin would shortly send rider that Palie's appointment an Ambassador to Bulgaria and is only a temporary menure to launched a investigation of an Tho National Police today a Minister to Hungary, but their the Heme Minister's post, an-and

when 300 villagers stames have not yet been

reincident .that

attacked

party of Government nounced.

placed by some more powerful pro-lhes man before the next ofcials and press reporters Yuncslavia has for several

Nunokala town, Ibrarigi pre- Assembly cestion. wecks had en Ambassador In Dr Rhee also ordered the feeture, north of Tokyo, on Moscow.

formation of a three-man com-

Wednesday

The Border Incidents are still mitico to control

villagers his National takdug place. For instance, a Police. Committee members opposing a Goverment project Yugoslav frontier guard was will be appointed by himself to prevent food. abducted into Bulgaria last | This will Uring the National They beat up officials and week, while in the last week of Pollco directly under his con-reporters, some of whom October, Hungarian frontier

received serious injuries. guards twice opened re 01

The villagers sald the project Yugoslave. But these were re-

would deprive them of land. garded in Belgrade as individual incidents, and not part of the 3,000 men of the "Pre- acting as "running dogs" of the be forthcoming at an early date. hitherto existed,

counch deliberate policy,

source sidential Residence

For many scars Police Government and misrepresent The

ecuncil

finds It said-Neuter.

Force" under his direcl ccritrolling the villagers' ense-China Fumeult to believe that had been concerned regarding i

many In addition to the National Mall Special,

of my statutory Police, Dr Bhee has uncontested

of thogha #ignified" their manning, scale in constal vesielk

countries who have the absence control of the Military Police, a

The Mertanille Marine Service Brentien to ratify Can Aub

Association, the Navigators and scribe to a polles of discrimina-

Engineer Officers' Union, and the tory praellets. In *particular, Wildeshausen, Nov. 6. It is surprising to note that the National Union of

factual cleaning,murals Scandinavian countries ... Nasi Jolly untucted men have way, Sweden and, Denmark, as survey of the manning on byet not 1,000 British conglers and will as Finland

Tho

Schools Will Stop

Teaching English

trol.

FULL CONTROL

so it would appear that the

teatures are inherent in these a million tons of ship particular, trades, the member- ping or over, has been met, and ship has expressed appreciation It is hoped that the additional for these agreements which re

requirement that seven nations]

Copper spot

3-month Lead Nov, Feb. Zine Nov,

Previously, Dr Rhee had only Thiey said the reporters were eight ratifications required will move, serious anomalies which JAPANESE BONDS in Britain and brings new ideas lands, and to steer new factories

body of which little is known. VALUABLE, FIND:

It is sald to' number, anywhere

from 10,000 to 30,000, and in

ccmmanded by Dr Rhee's "poli-

not

Rajkot, Nov. 5. tical officer" Lieutenant-Generat Workmen

dating from the 14th and 16th West India State of Won Yung. Saurashtra decided to cut out Third, Dr Rhea deprived his centuries in the Alexander well

Tho

the

DO

Feb.

15 15 United Press,

74

London,

Nov. &..

72%

03/1

115/

·BY

1404

Japanese bonds

"A" (4s of 1803) "3" (4 of 1910) "C". (58 of 1007) "D" (ls of 1924)

(5348 of 1930) "F" (Tokyo 81⁄2s of

1026) "C" (Tokyo 65 of 1912) Console

-United Press,"

MAY DO GOOD

towards older industrial centres that have docinott In the twentieth century.

It offers sa an inducement to It is found that an infusion of build the motory in these aresa, American labour and managerial

spirit may have a beneficial providing all the capital and leavening effect on local morale. charging a moderate rant. While British firms have British' labour is steady, butj conservative. Buikes (and-in-

70195

this, allbac alow

to respond 10. 854 disirial unrest are uncommon Lion, American firms have 04%

[here, but managers, find dimenity qulot,

it Introducing new techniques staby, Flamalarios: MuYED BAN

Scottish

English entirely from its new Prime Minister-Finance Minis Babiled Church d'acovered under among these countries who shortly be in a position to re Exchange Rates work people show to change fireb rank American firme dinco

One basle system of trainier is į titular post of Prime Minely

may

In the The resistance which British developmontared by twenty Welcomed bodiminished-by-an 1945, The Scots hava this invasion and ara

asking o Enterprluc Bushes was done in the local fublon of

móno is said that they prefer,

American

immigrant to morning at the following, Fatoni 1.8) dollar (per $1)

the advantages which prospec southern Briton, who mull willers sterling notes fper indonesian lideri (per 100) 100tive American Investor may from the countries, old show under these factors against |

between England and

al. The shippin" of thesd- coun") presents the Dinadequsoy?" of the Funofficial","exchange-marker-gliis" and

curio&A will:welch]

British

school curriculum to begin next ter, Palk Too Chint of the im- them others daling from about have rained, the convention to quer the Ministry of Transport Zóna meeting In norter, to re- mandate. be portant Fillance Ministry and 1250. year. All teaching will carried out in ecklonal tongues feft him with only Die

Astoration 'men were called in and so far have uncovered tricks owes its existence to present arrangements and make being introduced ick all schools Palk, though he never or other murals of this period show freedom of trade, the exports recommendations, based on

and

alone of Scan-factual information, for the in ending at the age of 14: Emphíals cover-enger to micceod Dring scenes of Christ Passion. Imports

dinavia could maintain but a troduction of a coastwire man- will be placed on handicrafts-Rhee, has been widely recos-They are in good condition

smail proportion of their ship- | ning wealog China Mall Special,

nised as one of the most power- China Mall Special.

Barn,ticals (per:100) Singapore (Balta) Indo-China plastres (per 100)

1.77

125 the cost in dollars of profit re- / Halmosts Krouter,