1953-11-26 — Page 9

THE CHINA MAIL, THURSDAY, NOVEMBER 26, 1953,

CRICKET-PLAYING BUDGERIGAR

Page

Here is Peter, a budgerigar, who actually does play cricket. With celluloid bat in his beak, Peter prepares to hit the celluloid ball into the wicket, Peter also plays football, His coach is his owner, Derek Hunt, an eight-year-old Stafford

schoolboy.-Daily Express photo.

FREE

GOLD

TOUCHES

BOTTOM

FROM AN ECONOMIC CORRESPONDENT

London, Nov. 25 The

price of at

13 world's for market wild prope ntily rela PT 33 dollars an outer for rome time, It emnet drefte further for at

an una

Britain After

World's Airliner Business

London, Nov. 25.

Britain is planning a full-scale bid for the the world's airliner business next year with new types of jet and propeller-jet transports.

That prive them simrad from olde Nor is it likely to

, Prvolutionary aircraft should be at the rate of the defe bourding and peculativel

webuyingį, aliout 150 annually. kniven a new hoopt, either by puted fears at a wor

Twelve months benee her production of these

Since May, 1952, when her 500-miles-an-hour revival of englu. heave to Comets first went into regular service, Britain has nearly doubled the top speed of passenger air travel.

in ilegal goba neten,

The

tonitet

reglane “

tier,

Do the 1 which offleboj lagers parent quantitie

tak

uf pol

free

as attributed

These aircraft, flying over 100,000 miles a week untitat.tn m on British Overseas Airways routes, have since been in London only partly to recall supplemented by the propeller-jet Viscounts flown by Russian

selan sades. The calm... toi British European Airways and Air France. Brase o raw materials purene e

by the Soviet Union

1

Farveen diem, The Cosuct Comets run regular service to accentuated a decine in the tree, tut Vi.count, only aircraft of the Lebanon, Egypt, the Sudan, imarket price that was obeady kind in regular service, i Uganda.. Northern Rhodesia, preated new standeds in South Afren. French Senegal, well urer way,

the eles of fititorless travel,

French Equatorial Airco, Pakis

Indio. Ceylon, Burma, The

Ive been small Si. m, Singapore and Japan.

The

+

recum pad were the cont

that the Eisenhower

trat

W

the

Jook pritat fleet.

Roth British

are

TRADE and COMMERCE SECTION

Oil From Under HONGKONG Surpluses Mountain

The Sea:

New Development

!

SHARE MARKET

(From Our Correspondent)

Businera transacted on the

UK Stock Exchange this morn-

Ing wea' volt:d'ál $911,400,20,

Tank 1830

FI1

131530

An interesting recent development in the field me noun quotations, in of oil production has been the intensification of active market were: the search for new underwater oil resources.ES BUYERS SELLERS SALES Although underwater oil production is still in its AKS infancy so far as offshore operations are concern- ed, exploration or production in offshore areas is now planned or in actual progress in all the chief INSURANCES oil-producing regions of the world.

US offshore oil exploration in the Gulf of Mexico has inte- ly been tharply simulated by the settlement of the question as to whether the US Federal Government or the various gov crements of the coastal States thould administer

concesions

in the zonas regarded by these Stater Ey within their territorial waters. The decision that con- presions in these waters should be granted by individual States hos bica a greal encourage- ment to co

companies planning oll exploration

projects in tide- lend zones.

I

OFFSHORE WELLS IT is expected that, within the next five years, some 14,000 qual

miles will be explored for all resources off the consts of Louisiana and Texas alone. Alterther,

nted Is outfeipated that. If uninterrupted explora tion

continues in all US off

some

000 barrels of crude

- and

Late Rally On

New York

Stock Market

New York, Nov, 25. Stocks called through on

late yesterday's

rally moving upward in the restraining In- Avener of the holiday, which will be a four- Thanksgiving dny weekend for many in Wall Street,

El Ann -

3110

10 1500

201530 2005 174

Lombard 671, 5011⁄2 8200 IN GALS Union XD 6171 Unterwriters

1000 6 7

SHIPPING

Walerboot

DOCKS, ETC.

Dock

1 zavid

درون

... 20 00

20

Begins To

Move

By Sydney S. Campoll, Reuter's Financial Editor

The mountain of United States surpluses has already started to move. There may or may not be a long interval before it crushes anybody, but it is a real mountain. When Russia 'sells any- thing, people fear that there may be a lot more to come, because they do not know. When the U.S. sclls any of its surpluses, people do know. There have been several significant developments:

1. The sale of $20 million of } U.S. tobacco for sterling, 10 augment the stocks of 'British manufacturers, does of course Influence the world market-- so far as it goes, which là not regligible in the first "Inšianco and might be further later. The 12.00yth that elocks do not over- hang markets is belovell by the world's ch11 and not thared by the world's businessmen.

(Old) 12.00 12.70 3000

$53 0.00 350.00

11.00

6.15 BAD

Wheelock S'hat Cock

LAND, ETC.

HK Hotel HK Lead Humphreys . 17.00 Sam Land Really...

UTILITIES

Tram

Peak Tram Star Ferry Eftirle

13 74 500 GP 731% 11017.30 4.3715 2.871 3000.00

20 43 10.70 300 29.70

100 20.0

¿ There is a move to donate

or 30,000 tons et U.S. 20,000 butte to charities and welfare organisations. The President has

Japanese Bid For Silk Markets

San Francisco. Japan will cut raw silk

$100 million for such donations, prices between 10 and 20

well as the $100 to $250

per cent next year, as part million for sales for local cur-

A9

140

rencies. U.S. butter is too watery of the fight to regain her 282 28.70 2007 28.09

to be sold under Brilish law, once powerful Industrial 2300 28,60 130 28,00

but that might not bar a gift,

position, a Japanese 'Gov- C. Light (0) 14:10 14.30 500 ** 14.20

5000 14.20 3. The Commodity Credit ernment delegation 011-

01420 Corporation sold 20,000 tons of nounced here. 2500 to 14.20

at a low

1500 #1420 Surplus linseed oil C. Light (N) 1020 10 40 1000 10.40 price which other

selling The delegation consists of Telephone 2015

countries promptly had to meet. three members of the Japanese To make matters worse, the CCC Legislature, Mr INDUSTRIALS

K. Sasamoto, Cement... 105 10.70 10 15.70 told the world all about the Mr K. Igarashi and Mr K. lione

10/10

1020 saic. When it succeeds in laying Suzujd, who were stopping STORES, ETC.

the hen's here on their way home from Dalry and Meris

20.40 £3.co

Volume amounted to 1,540,000 shares for the session. Frac- lonal gains were the main rule in the main body of stocks but:

long list scored an Improve- ment of a point or two.

Aircraft and oils

Stock Ex-

400

500 23.400 egg it emulates 500 (2119 publicity methods, without ad-an International silk conference 200 or 231- 2000 231s

Wation..... 21.00 -23 100 2UÁ

1300 20 L Crawford 23.80 COTTONS

Evo

2 2.03 2000 a 2.0212 Carp 0.70 0.85 6000 a 600 MISCELLANDOUS 1800 6.75

0.19 420 1000

Yangtze

vantage to either the world in Milan, market 01' its buyers. The drop.

U.S. linseed ping of the

port to 70 percent of parity

They emphasised that Japan try to sell silk ́ ́ to would not Chinn. Instead, the fastes and because the CCC has a couple desires of the U.S. and Western

of years' supply on hand--is

not expected to reduce the sow-urope would be studied in an 8.15 ings. The linseed belt is alsoffort to cell more silk in those

In exchange, markets. the spring wheat belt, and ex-

they perts there think that therockled, Japan would like to buy with not be much else to do more, foot from non-Communist

countries. with some of the land excluded from spring wheat by the mar- keting quolus. That is a pour augary for the coarse groins, where the supports are being kept at 85 percent of parity.

Malaya's Trade Figures

Singapore, Nov., 25, Malaya's foreigil trade during was al 200,000 the month of October continued

closing

Jones

shore potential oil bearing areas, the next five years should Ke the buttalt from these areas brought to a total of between 170,000

de oil and natural gas liquids in the oils ranged to 21 points and 200.000 barrels ofere among the best. Gains per day, plus a further daily in Ameries. in Honolulu

of

I an

2 pets. no to 800 Deugih

Lockheed 4, the latter being in million cubic of natural the day's most active trading.

feet gas. The exploration may be Industrial

slocks averaged 85 particularly netive off the coast vents higher on the day. Unles of Louislinn, where the stope moved very narrowly and closed of the Continental Shelf is very cents lower on average. gradunt but where 200 or more offshore wells have Already

Of the 1,120 trade today, 450 ten drilled-haif of which increased. 327 declined and 253 are currently produelag.

held unchanged. There were 22 The xiestel

these hight set rod 10 new lows. from Louisiana offshore wells is tow averaging a total of some 12,

The New York Stock Ex-

volume change bon:l

Was Al natural pas louids

$2,760,000. 60 to 100m, cuble feet of natural gas. The American Fund': ban in leve sales of cold us boat of Couets, including

daily, Angler encouraging fae- change volume ardi Brazilian et Air France, Union.rbines

tor for the future of offshore { ›hares. Dow starting Europe-

Guif

Bexleg March in the ritime.

h Overreas Song America services by Airways Corporation 1

recarch has Leen advances in averages were: and the Comet next year. A British

dritting icehnology. At 30 Industriais Royal C, Ban Air Force, we only about 20 star, and only!

as inute to Autralia will follow.

present. 60 L of water is the 20 rails shout, a quarter

There is a high demand for

inoximum depth at which drifl-15 utilities of the 80 Viscomnis already ordered are seats on all the Comet services, operations are possible, but G5 stocks

which are said to be showing thought that drilling in depths Comm.

in the next few years it is 40 bonds yet in service.

ja tixtretory profit.

of 100 f: or even 150 ft will be pic.ure ext prier for the Art time en het markedly different.

technically feasibin, end of the war, has been going A giant newcomer will makte i service with British European Considerable importance is Jess steadily over, is debut, the 100-sealer Airways have put up spectacular elro attached fo the various

MP decision tool, pelleeks Britannia, which Aures of passenger 15C

underwater oil exploration pro- oh ty the All. mie non-stop | 14venue-curning,

jects now in hand in the Per- At one time after the war the at a cruising

Stan Gulf. The latest two such peed of 360 free gold prier wees as high as indes an hour.

company rerently ́an- ventures both concern

British nounced that in the drst 2,000-f-intry 150 dollars an ounes bur by rej

British Overseas ****

interester "Airways house flown by tak

the-irst "In con rcraft- beglining of this Menu hed) Corpention has erdered over then fewer in Bum

ecske, granted exclusively to fallen to 38 dollar.

£480.- There was 30

leviathens.

British Interests, to curry out bad bearned. an improvement to 40 dollar with Con-ets will operate two

an eil expleration programme was early early in the year Par Tum-globe-circling services, one by 3

over 12,000 square miks off the thut The United

Kingdom norther

Chicago, Nov. 25. ute nud one by, A In September on the rich

root of the hulkum of Abu Government world urge the US southern. Delivery will begin and Geneva services Briti

Dhub, on the Trucial coast. The

Priers per bushel in cents: scend-in which British to sunetion an increa in the late in 1951.

Closing Prices, und European Airways, mostly with

Whent. No. 2 red interesta Soon, Cumets will be turned Viscounts,

French official price of gold, but tan

carried 2,060

are jointly

2031 nom. Dak

Spat derline ret in brain where Pient 69 three production lines sengers compared with 3,310

treemned-is a concession 10

Dec.

20415 US i instead of one as Becani

now, and by the same month a year ago. Ou

ach for oil over a apparent that the

3,300 Maret 1004

203-201 the end of next year the litude was unchungel.

uare-mile area he Scandinavien services pas-

of the const May

19512 207

vion!

UN alginin apt to alto an increase in the clicial of gold.

STEADY DECLINE The declar.in the free

of gold, which york relay by

it into line with the cell

< Dre or

the

Since years ago.

The

of these

gut at the rate of

year will

The 12 Viscounts so far in

The

which 000 sterling

New

The profit shown £70,000 sterling.

and

But without doubt the under. Series Two, faster than the singers totalled 3,047 in Septem- int in the erythet, with its late Rolls-ber, compared with 1,602 in the ying cause of the free koll price has been the Reyce Avon jets, will be rolling corresponding monts of 1952.-

about. 36 China Mail Special. of great increase in the amount Hold offered on the world's free markets since the cral of the IMF ban.

Last year.

mully,

100 A YEAR

1: ben Production of Viscounts will estimated nearly two-thirds of by then be about 100 a year the tutal world production of tom 71 rectory which the 20,000,000 ounces of gold werd Vickers - Annstrong

company sold on the free market, And has opened of Huru, Dorsel, this year the proportion may Many world airlines are wait- ing for the delivery of Comet have been even larger.

They

Include British

The decline of the free price Two.

lo parity

will face

with the official price Overseas Airways Corporation. coun- Air France, Union Acromarítime gid-producing

difficulties. On of France, Punair do Brazil.

tries with new

Restaurants Defrauded By

Free Feasters

Tokyo pollee Commonwealth

the other hand, however, it has Venezuelan Airways, Japan Air been pointed out that a much ¦ Hues, larger proportion

British

Tokyo, Nov. 25.

arrested eight Eating, and Drinking Costigany Limited" and Issued warrants for the remaining six.

of the world Pacific Airlines and, it is belley-shareholders" of the "Grils oulput of new gold should sooned, Canadian Pacific Airlincs. become

Available to reinforce Others have booked the 38-78 Comet Three, a longer-range jetliner. The British

company Airways three

officiul reserves.

The 14 were alleged to have defrauded more than 30 Tokyo

BRASS, BRASS, has ordered 10, Pan-Amerlean

with the option restaurants of about 1.000.000

on a further seven. Air-India yen (£1,000 sterling) worth of

EVERYWHERE interational is no among the food and drinks since the "com-

cave"

for Come Three.

Caroliations In progress

Hempsted

brass,

anvolve

a total

of

in-

was established in March,

the

"company's

into

and

of Dubai, another small shelk- dùm along the Trucial const.

NEW SEARCH

RITISH and

Cets

the search for oil now

index

future

U.S.

W

to

from

The

United

were

export

BRITISH VIEWS

A North of England Repre- sentative writes: British users of raw silk will be very glad If the Japanese are able to të- duve raw silk prices next sea- they will await practical steps son by 10 or 20 per cent, but to this end before becoming ex- cited about the present news.

4. According to an offent of the U.S. D:partment of Agri-

uitage, the predletion that the to thow an adverse balance--

wheat

market would stabiilse (at about a hair Imports exceeding exports by

4 cbnormal volume of a couple 277.70 $46.000.000. according

96.37 icin statisties released today of years ago)

was partially Inflation in Japan has stimu- based on the assumplión 51.00

U.S. Imports

that lated already high domestic of wlicat 105.78 Kingdom

exporttrs lost

and demand for silk and title Is Bour would have some miesti

moans available for export. Although 18.00 worth

against $10,000,000

of brkiging the price gap and prices are fixed, the ceiling is $21,000,000 in exports, prices

United States compelling effectively whenever high because of the demand- Exports 100.13

domestic price support pro-supply relationship. But at the amounted to $35,000,000 againstgrammes -United Press..

hold prices In the Milan Congress six weeks agb $12,000,000 in Imports.

U.S. above there prevailing in the Japanese were told No exports to Russia

by oll were work enarkels."

users that if prices:

re- reported' last mouth, the only trade this year being $24,814

duerd and if cupplies were forthcoming great increases in worth: of goods from that country-United. Press.

consumption could be eccured. DEMAND PROSPECT

Chicago Grain Prices

July

Sept.

Corn, No. 2 yellow Spot Dec.

lo

French Trade Talks In Taipeh

'Trade

man disclosed hu.e."

WANT INCREASE

were

5. The Administration favours an increase of more than three million acres in the cotton acre- ge allotment. This would in fact have been done at the last of the Silk and Rayon Users' Me Peter Caddum, chairman session

of Congress, If the new Western cotton-growing aren

sion

про

Association, said that if prices und the older Eastern arcas raw silk were, reduced by could have agreed on the divi-20 per cent consumption would Paris, Nov. 25,

be more than doubled within of the acreage between negotiation between

a few years. At prezent Japan- the present crop them. With France and Nationalis China shaping to leave 1907(111 13724(1) 19944-E

CEC Outpul is no more than 30 A carry-over

per cent are now under "way in Taipeh, a

of pre-WBE. accord- 10 million approaching

bates. French Foreign alee' spokes there is plainly no need for the

Jales, ing to Japanese delegates" at at increased acreage, and

and an en-Buxton. Although a spokesman The negotiations alon

banced danger that the surpluses for Japanese raw silk exporters of the will become solving the problem

Intolerable and forecast that supplies would be settlement of the French green have to be unloaded" tea purchases in Formosa, which world market, by export sub-able in 1954 further

on the better and prices more reason discuss were 13 for paid for in United aldies or a two-price system or ions indicated that Stales dollars. France had pro-

It may be It will be 1955 some other device. raw materials recalled that when President fleant increase in supplies con vided to export

before a 'really siedl- and industrial products to Na- Eisenhower recently fionalist China in exchange for

listed the be achieved. 122-1221 this produ

"many constructive legislativo

which steps" "understood that a taken for the farmers, War

Congress had Chinese sugar quoin

may, Orst be included in the deal at the wheat, they amounted

four points device for enlarging the surplus

Dutch inter- are responsible for March 1954

taking May July place of the coast

of Qatar,

Sept. higher

up the Persian Gulf, nd will be recalled that ro- | Ryc etaily a specially equipped de- Dec. pat ship wes rent out from March 1054 Britain to assist in this ven-Outs ture. The Saudi Arablan off-Dec.

there

Gilneld

of Safanyia Burch 1954 operated by American interests

-now has six completed wells, Soybeans. No. 2, yellow "shut though these are as yet

Spot Nov. Jan. 1933

in" pending the bringing of this underwater field Into commer-March clal production,

15714 160-164!1

150%-ico 15812

1331

11712-117

7616

It

request of the Chinese Na- tlocals

Government,

307-30714

20014-247

20212-203

130-152

$14.00 nom, United Prest.

LONDON TIN MARKET

May July The

current search for under- Sept. waler oll resources off the Barley.

British Bomeo coast of

also

New York hour. 200 lb. concerns British and Dutch in-

Back cross. This particular project is la scek submerged exten- slens of the important dry- land ollfeld of Seria,

on this adjacent coast. pany

By 1941, when the Japanese Under A small house in

invasion

brought operations Street Achford, Kent, has

welis statute", a

here to a halt, offshore prospective member "Aladdin's

about 100

hind to pass at least

had already been drilled from one bad where cupids, pheasants, gors Comets of various types apart

jetties running 800 feet out to ither cheque to qualify for member-

ship.

rea. But the present venture is rules, of

laking place n full mile from procedure

thare and entails the use of a were:

All frauds had to

specially built island drilling be com- mitted on Saturdays, company. platform. members

required were

-10 operate in groups of live or six,

confidence of a restaurant owner by posing as the president or director of

Groups of

50 already

from over and mermaids jostle in glitter-built or in construction, just array,

Of B Viscounts already order- Mrs Priselila Back, who lives there, is a Romany home from ed, a fleet of 15 is destined for Trens-Caunda Air Lines. The wandering and with a passion for bras. The golden metal remainder are for big operators Alls every corner of her email in various parts of the world.

Orders for the Britainia home from the shining plaques

walls to the cenlbox, believed to be already varen, candles and short of the 50 mark.

PRESENT SERVICES

on the mirrors,

ornaments.

Even the light switch Anil

the earrings worn by the 00- year-old, raven-haired, Mrs Back. are brass.

are

not fuc

Other

London, Nov. 25. The in market was easier and inactive, Turnover was 10 tons of which five tons were for cash. Prices; Яput in, usten

scller.

one_member "wna win the New York Cotton-mmonia tin, buyer

to

mem-

Air passengers can now fly by bers were said to hold parties Jetliner or propeller-jetliner from at different restaurants, always Paris to these placea: on a Saturday night. When they Lordon or*

Moln European capitals such loft was

the following morning

Part of her collection passed

to her by her as Rome, Athens. Copenhagen restaurant owners would be down parents, with whom she wan and Stockholm, and other 'clifts given a cheque to cover ex dered around Kent with horse like Zurich, Geneva and Frank-penses, hut as it was Sunday the and eart in

childhood. furt. her

Viscounts also service restaurant owner would be un-. They are part of her earliest Nicosia and Cyprus, and are able to prezent the 'cheque 'unu! memories and she will not partį about to operate internally in the following day,China Mail

Britain.. from them.

Special.

Boiler

all his concerned

to one

London Rubber

allot-

for

55 to 62 million

Since the constitution of the (by raising the acreage Chinese

Peoples Government, nent from Formosa has sold :pproximately. Peres) and three devices two-thirds of her production to unloading it at the expense of

the world market. France agalert payment In

Something similar for cotton seems to be not so much

as a danger mounting certainty.

dollar-Reuter.

6. Winnipeg hos fears

.

Market

Landor, Nov, 25. A The rubber markit. way quiet with No. 1 Rus pot quoted ot

US Commodity further U.S. barriers of 17 pence per lb. Price

Markets

to

against

groin imports from Canada. In- No. 1 Ruz spot

18

derd there are many signs that element House irem: the U.S.I going to make fo JuMarch hant for other exporting coun- April-June

im-July/Sept. tries, by restricting U.S.

porta

4712-17*5

and pressing U.S. exit basis, ports, Dec. poris, so as to get the surpluses Estate crepe thick off the premises.

--Unlied Pr NEW YORK PRICES

thin

New York, Nov. 25. Stringth in scybeans pear- hended an advance in mcat commodity markets today,

Pro-holiday covering along with strengthening domestle cash markets and n let-up in Farticularly after the sensa» ional election results of Nov- hedge-selling, all combined put prices on the up-grade.

fember 3, t is increasingly prob-

New York, Nov. 25. oble that Republican A Chicago, wheat closed up policy will be both more social- 20-35 higher with alta of 72 Rubber tutu:cs today closed 14 13 14 cents,

Ist and more Isolationist than contracts About half of the

·would' AL Winnipes. whent

Democruis

dare, trade in futures was represented That may be sound or inescape in ewitching-operations between priced at 1814 ernt, bushel for No. 3 Northern, and able politics, but anything so December and March' positions.

unprincipled would hardly be constructive for world mackefs, Is the spot market seme buy- -Reuter.

ing credited to London 'account

0571 to 4% cents.

1105

040

015

Prices

Settlement

New York, Nov. 25. Prices of catton futures today closed, as follows:-

Spot Dee. March 1954 May-

.

- LEAD, AND ZINO Prices of other metals closed ng follows;

$3.85 nom,

Prices in sterling per long ton: kuyor - sellors

236

July Oct.

220

Dec.

March 1968

7010

May

63.0 33.31-33 3347-48 31.27-28 32.40-47

27.30 nome 27.03

Unlied Press,

Copper apot

-inonth

Lead November

Tebruary

Zine November

February

soybeans

was the

PIT

for No. 5, it was at 165 centa United Press)

Exchange Rates

· Dis❘ness was

local

done in the | exchango

market | unomiejai

morning, at the following · Intestin U.S. dollar ((per 31)

943) Bierling Inotes, spèr £1) 0195

forma

in the forenoon'” and ́dèmesila

US Markets Closed Canand in the afternoon.

Now York, Nov. 25. | Spot No. 1 Rig werk quoted at All financial and commodity 204 cents per 10. Prices: this markets will be "closed" "in"""the

United States for observance of March 1054 18,67 | Thanksgiving, 2042

Dec.

Indonesian gulidera (per 100) Ainm Licata, iper, 100)

-1.77

Markets in Canada and abroad | July

Bept, however, will operate as usual 282 | --United Press.

Singapore (Siraits) United Press, -- Indo-China plastres (per 100)

***United