1953-12-01 — Page 9

THE CHINA MAIL, TUESDAY, DECEMBER 1953.

Paralysis Victims Form Society

Greetings For Queen

London, Nov. 30.

Bufferers from multiple sclerosis (erpeping para lykik),'.... which'- attackstone person

in hig In 2,000 country, Eays formed their own society here.

Tho Muli Belerózia Society hope to help victims to meet thè mental

and physical distress caused by the disease and to spist them to become usetal citizen.

Il members will visit

Polients in their homes

15

give

piecemary, them financial help. It by also press for further research to find a cure for

disease, which so far Domed British xelent-

Multiple #clerosis, · Alhedse of the brain and spinal cord, "In caused by an unknown agent which attacks the sheaths cover- In the nerve libres. It may be so slight me to cause little more than a

!irip OF Navero enough almart to completely erip. ple a sufferer,--China Biali Special,

Helicopters Aid Search For Oil

London, Nov. 25. Helicopters are now play- ing a leading part in a big oll quest in the dense tropical jungles of Nether- lands

New (Western), Guinen.

Able to operate from small quickly made landing grounds, they are being used to move both men and materials under dimoult conditieris.

The operation is in progress in 38,000 mile pil concession in the extreme north-west of the island. At present about 250,000 tons of crude oil is being shipped from the part of Sorong.

Exploration work to find new cilheids, however, is being under- taken on a large scale. At first, their discovery, Involving the movement and maintenance of

technical parties,

numbering anything up to 300 men and 60 tons of equipment and food, in thick, swampy' jungle and

Incessant rain, proved an almost insuperable problem.

PROBLEM SOLVED

Then the services of Ihree single-engined two-seater Be 47Ds, were called i

These can land in a space of cleared Jungle measuring as little as 3 And they or 4 yards squtu. solved the problem of difficult

ferrain.

Despite their small size and

have. --Imited--payload — tacy——b

achieved an astonishing record. Over six months, the average monthly figures show that they mado a total of 571 separate alghis, covering a distance of 5,000 miles. And, though they can carry only 3 cwis cach, the average monthly load was fons.

78

The speed at which work can progress with their use offsets in farge measure the higher cost.

For example, many cases are on record of urgent sports being flown in within a matter of minutes-London Express Ser-

vice.

Queen Louise of Sweden, on a private visit to Britain, is greeted by Swedish children in national costume as she arrives to open the annual Christmas Fair at the Swedish Hall in Harcourt Street, Marylebone, London-Reuter photo.

Archaeologist Risks The Wrath Of An Unknown Goddess

Ankara, Nov. 30.

unknown

TRADE and COMMERCE SECTION

Devaluation May Be Answer To Japan's

Page

GAMALIGE UNE Road Vulgurako dek.N

United States

Boom Has

Sterling Shortage Lost Its Buoyancy

(FROM AN ECONOMIC CORRESPONDENT}

London, Nov. 25.

One of the most startling things about the sterling area- Japanese' payments crisis, which British and Japanese officials are shortly to discuss in London, is the suddenness with which the roles of creditor and debtor have been reversed.

Less than two years ago Japan was piling up sterling balances so quickly that several Commonwealth countries; including the Colonial ter- ritories, were forced to cut down their purchases from Japan. Yet, today, despite a more liberal import policy in those countries and a complete absence of restrictions in other parts of the sterling area, Japan's sterling reserves are rapidly nearing exhaustion.

The deterioration in Japan's trade position with the sterling area set in towards the close of 1958. Furn'ed,! at year's end, it had a comfortable surplus of £23 million. This year, however, the posi-present difficulties are not con- tion has been dramatically fined 40 markets which reversed. Between January and "restricted." In Pakistan, for September, Japan was running a example. there are no restric- defelt with the sterling arca at tions at

all ori Japanese Imports, an annual rate of no less than yet this market has proved as £129 million. In nearly every "ilcky" ан those In which sterling market the same story is restrictions are imposed.

heavy

are

HONGKONG SHARE MARKET

(From Qur Correspondent)

Boston, Nov. 29. The boom in the United States has lost its. buoyancy and there are growing signs of slack- ness, it was reviewed by the New England Letter, the current report of the First National Bank of Boston.

Practically all of the significant indicators are receding from their peaks, the report con- tinued. Gross national product-the total value of goods and services following a steady rise since the latter part of 1949 declined slightly in the third quarter. Private investment showed the greatest decrease, due to principally a reduc- tion in inventory buying and a slight decline in new construction.

Of chief concern are the de- elino in farmi prices and the accumulations of inventories.

From prices have dropped

18 per cent from the post-war and are still drifting down- wari.

by

The Cotton Markets

The priece received farmers have been declining at a much faster rate heard of

than

the Japanese On the question of tariffs, the

New York, Nov. 30. pald by formers and

prices purchases

for diminishing British team will be on equally

Prices of cotton futures today roads Japanese sales.

purchased. In con- closed as follows: strong ground. Despite the

the Business done on the Stock #cquence, This sudden change of fortune United Kingdom's recent operosi-Exchange this mains amounted which covers

"parity ratio" Spat prices has been most pronounced in tion to Japan's admission

bald by Dec. to $800,051, Noon quotations and the farmers for commodities, stay

12 ||Tarch-1054 Japan's trade with Pakistan. Last GATT. Japan still enjoys most the morning's transactions:

interest, taxes, and wages, hús Sty year, Japan sold £47.3 million favoured nation treatment in the SILARES DUYERS SELLERS BALES been reduced to 02 per cent of t worth of goods to Pakistan and U.K and Colonial markets, BANKS

the 1910-14 average, bought 231 million. In the first There is no question therefore

as com- March 1955 10. 1500 301010 Dared with 101 per cent a year stay nine months of 1953, however, of tariffs being used as a weapon

50 @ 1018 cost-prize squeeze her sales to Pakistan

were to discriminate against Jupoñesė | INSURANCES running at an annual rate of only goods In British markets.

£5.3 million and she was buying

BRITISH VIEW

at the rate of £30 million. The In the British view, there are total deterioration in this market two reasons for the decline of alone--which, incidentally, Im-Japanese sales to the sterling poses no restrictions on imports area:

to £47.2 million..

AUSTRALIA TRADE

A German archaeologist, Dr Friedrich Karlom Japan-amounts Doerner, is risking the wrath of an "great goddess" to open the mountain tomb of Mithridates 1, king and god of the Greek kingdom of Commagene, which flourished in Asia Minor in the first century B.C.

£68.8 million.

In

In

1. For some Inexplicable reason, demand for Japanese goods, so strong in 1932, has suddenly dried up,

high.

Antiochus I, the son of Mithridates, confided his father's tomb to the care of "the great god-market, which occupies a position But the scope dess," Dr Doerner has discovered, and ordered that no one should ever enter it.

B.K. Bank .. 1010 1020

Union .. Underwriters

SHIPPING

*

90 ( 869

71%

Asla Nav, .. 1.20

DOCKS, ETC.

K. Wharf... 8934 Dock

21.30

Provident (0) 12.80 12.00 Provident (N)

****

The

--on

the American farmers is like-

ly to continue about the same

33.24

34.36

United Press.

NEW ORLEANS

New Orleans, Nov. 30.

Prices of cotton futures today

In 1954 as in 1953, according 10 Spot

closed as follows.

32.65 nom

prediction made by the De Bea

partment of Agriculture.

March 1954

12.00

hiny

12.20

INVENTORIES

July

Shat Dock

1.80

Inventories

Wheelock XD 8.20 ET 1200 @ 63% LAND ETC.

are being care-

Off.

Dec.

3.K. Hotel 0.40 0.45 3000

845

fully watched for a clue to future business trend.

March 1055

Blay

HK. Lond

S'hai Land..

78

1.40

Total business inventories at Tthe end of Aggust are

ĐẠO RAGLA

-United Prom.

Humphrey

mated by the Department of Commerce at $78.)' billion.

2000 @ 109

Really XD

Tand-XR), 1:00 UTILITIES

Right

Tram 28,00 27.30 1200 @ 27 Pool Tram [[reory"

(014 for such a re-

EP Light (0)

XD

Japan's trade with Australla

Japanese prices are too follows the same pattern. 1952, she had a deficit of £34

This latter point may suggest million with the Dominion. This year, the defeit has been a possible remedy. A reduction of Japanese exportA running at an

annual rate of in price

should, theoretically, lead to an increase in the demand for them. the United Kingdom

imduction is small. minor of comparatively

Since the war, Japan has done portance in Japan's total export

WHAT trade, a Japanese surplus has much to improve the conditions been transformed into a deficit. Be officials readily

and pay of her workers; Indeed. admit Dr Doerner believes the temb was only half-filled with earth

when the U. K. Last

that in this respect, Japan now lies in the heart of Mount Kahta, | beyond this point,

made spe

steel purchases of

has less advantage over Britain grey cloth in Japan, an Britain has over the United In Malatya Province, about 800 By heaping up the earth on

south- kilometres (500 miles)

U. one side of the shaft, a passage Japanese exports to the K.

States. (240 ft) long cast of Ankara, and six days by | about 80 metres

were worth £26.5 million. Her

Moreover, Japan, like Britain, was cleared, Jeep, mule, and on foot across

imports in the same year were Taurus Mountains from But here the digging had to only £8 million. But in 1953, must import most of her raw Malatya, the nearest 'town.

The discovery of stop.

the her exports, reckoned on an materials, and the high cost of have been worth these is reflected in the price of shaft came as a complete sur- annual basis, prise, and the expedition had only £10.3 million against-im-her-exports particularly of en-s not the necessary equipment for

valued at £18.3 million, gineering goods. Past Spring,

POSSIBILITIES in an effort shoring up the crumbling roof

tunnel, of the

which

trade was a

of

Short of a deliberate contrac prevent à contraction between the sterling arca and tion of trade, which neither side Government wants, two further possibilities Japan, the U. K. recommended Colonial territories remain.

He Ars begin excavating the ruins of Cermagent In 1038, but fecla that he is now on the verge of his greater discovery,

Little is known of the king- dem's history. The only accounts constant danger to Dr Doerner available until now were those and his workmen. of the Romans who fought with Antiochus for many years.

"So Antiochus had a bad press until now. Dr Deerner said. But the bearded, 42-year-old scholar bekeves Antiochus wrested in dependence from the Roman, and built for his father and himself tombs which rival the pyramids.

WN3

TO RAISE FUNDS

discovered.

le can Antiochus is believed to be

China & Indonesia above Mount Kahta, and which tunnel.

Sign Agreement

ம்.

$3.00

14 3000

14

1000

33.90

1000

100

"Sao Paulo, Nov; 30.

Prices of cotton fulures today,

kilo):

After adjustment for season closed as follows (cruzeiroper al changes, this represents an Dec. Increase of $480 millión" from March 1954

July and $6 billion over a May year earlier.

Durable goods secounts for

about 90 per cent of the total

July

unguoled

10.00

18.00

18.00

---United Prest.

(In the United States, the

14 gain for the 12-month period. average price of middling cotton

13.00 Inventories held by manufac-at 10 designated spot markets 13.00 turers at the end of Aurist was 32:77 cents per ib. Sales at

centres totalled

500 10.50 were more than 7 per cent these

above a year ago. During this bales.)-Unitci Frass

20

29.10 same period, new orders show

ed an Ingresse of around 5 per

while unfilled $7,20 cent, 300 a 27.50 clined by 10 per cent.

Total sales of durable,

10 8000 @ 19. 18.00 10t

C. Light (2) Meotrie Macao

10.40

29 20,20

Electric Telephone...21.20

103

500

INDUSTRIALS

Cement

Rope

Dairy

23.00

24-703

23.80

500

Watson .....

21.90 1100

200 24

Lane,

24.20 Crawford COTTONS

42,762

NY, COTTON TRADING Month

New York, Nov. 30.

orders de per

Voluma Open Interest

12.400

goods MAY

March, 1934

44,000

760.200

28.000

740,200

15,000

353.100

42300

140,300

11300

0.100

500

500 of 2012 Doterra en Oot retallers in August werd

500

per below those in July. March 1956.

cont bol

130 Should these sales cont.pup

O downward, an exteriye inyen- 21.00 tary

adjustment would be likely, and this would be re- 200 g 24.20 fected in lower

21000 2

·Textile Cary, 0.75 0.00 2500 g 6.30 MISCELLANEQUS.

Yonglaze... 7.55 8.45 VIDEO.

schedules.

(14,000 50

United Press.

production New York Stock

ANOTHER FACTOR Another factor that

ceiving considerable attention

Market

New York, Nov. 30,

Stocks pushed vigorously Into.

In the trend of employment new high recovery round today.

Nen agricultural employment with rails taldag over the reached a new high record

of leadership from the industrials.

66.1, million in August, but in

The

Rubber

你

Markets

September there was a decline

than one more

during the month which

million as

was

largely a sensmal development

Gains ranged to a paint "or

the lending issues such

Coast ne, Illinois

and

to step up their purchase from Firstly, Japan could finance Japan. In the meantime, while her deficit with the sterling area The German historian, who this recommendation was being out of her large reserves of

working

dollars. Japan is. Teluctant Independently, implemented, arrangements were returned to Ankara on his way home with the tomb still un-requirements of sterling.

made to meet Japan's immediate however, to take this step. Her relatively strong dollar position has been due almost entirely to "SWAP DEALS”

special United States purchases This was the origination of the ¦ in Japan in connection with the so-called "swap deals. Under Korean war.

source of this make-shift arrangement, the dollara has already begun to dry

Unipo. Paclics In will con- dollars which Japan deposited up and, though Japan wil

Pont and "Allied in London against short-term tinue to benefit by American

Singapore, Nov. 30, due to the return of students the With overseas advices disap-| to

Westing use sterling credits were to be fur-purchases during the period at

schools. Factory working Industrials.

In the felled unless they were

was reaction schedules per week have been re-Korean reconstruction, the time pointing, thero

Activity picked up substan- must shortly come when Japan here but no particular selling reduced from 41.7 hours in Detially with 1,980,000 shares for purchased with sterling

But the relaxation of Colonial will have to regard the dollar pressure although prices wont cember, 1952-tp_40.5-8 [01 day the heaviest since imports restrictions failed to as a "hard" currency.

down about one cent a pound. present. Any substantial September 15. Consensus In achieve the required expansion The second possible solution Prices:

payments Wall Street now is that the supersutious of trade, and last August the would be even less popular in No. 1 rubber per ib. Dec. 601-6016 win overtlankal rew

be repected in a lower market is in good position to "swap deals were renewed.

for consumer goods, Japan than the auggestion that

shead in a traditional Meanwhile,

sterling she Japan's surface a few words In, Ancient | belleve watch over the moun | reserves continued to decline should dip into her dollar | No. 2 rubber per 1b, Dec. 844-80·

ollar No. rubber per lb. Dec. 50-80% steel industry, by operating at selling for tax purposes appear This

that

per cent of and

capacity at an even faster rate. One Japanese yen should be devalued. Spot unbated per 1b. Dec. 50-6

supply more nearly largely out of the way carlier brought

than usual. Dema

Demand la expecte expedient followed another and Painful though this step would Blanket crepe

Into line with consumer de-ed to come from reinvestment to be, it is a solution that is supe Japan now apparently intendst redeem Her short-term sterling gested unofficially in London

mund. Cancellations are on the from foceumulated year-end decline, and real progress has dividends and x sales from been made in inventory cor- divl

GREEK WORDS

He plans to return next year, raise the necessary funds,

and penetrate to the burich in a tumulus which sur- mounts the 2.250-metre (7,500 tomb-chamber which he is con- ft.) peak of Mount Nemrod. vinced lies at the end of the In spite of the tomb's divine Is also being excavated.

guardian

and his improvised equipment, Dr Doerner had no necidents among his workmen, Dr Doerner was exploring all of whom were volunteers caves on the hillside of Kahta eager for the task, although when he discovered a place retaining their where the rock wall had been

for the spirits of the smoothed

away. On the flat ancient kings which they

Greek were visible.

Но at once cleared away the

Only one peasant fled from earth from the wall, revealing a the ate in terror-the night The agreement was signed for

large inscription in a fine late watchman, named "korkusuz" China By Mr Lei Jen Min, Vice Greek style. It

state-("fearless"), was a Minister of Foreign Trade, and ment by antiochus that he had whispering of soil sliding down Fuchs with pounds bought for the more and more frequently as the

who took

London, Nov. 30. Communist China and Indone- sla signed in Peking today a trade agreement "afier friendly and cordial negotiations," the New China News Agency re- ported today.

thins.

The

Mr R. A. Asmanen, chief of built there a burial place for his the side of the hill to be the the Indonesian economic mission, on behalf of

Indonesia.

and that no one should since the last place was

Government SMS

by the greatest god-

The Agency's despatch gave dets" The deity was put named

no further details except the names of the officials attending the eldning ceremony. Peking Radio only said that the agree- ment specified the principles for conducting trade between both sides, stipulated a list of goods, to be imported and exported by both sides in exchange, and laid a successful foundation for the development of normal trade relations Reuter.

U.N. OFFICIAL

New York, Nov. 30. Mr Norria E. Dodd, of the United States, has decided to retire from his post as Director- General of the United Nations Food and Agricultural Organisa- tion, It was earned here to

In the inseription.

Working with gangs of local peasants, whom he had lectured

of angry spirits. voices!

GOOD LUCK

no

reserves.

CHICAGO GRAIN PRICES

the International payments crisis deepens. purpose from

------{London · Express · Service) But unless Monetary Fund. Dr more orthodox means can be Doemer re-mmid him "körical" found to selle these "swap" deals art pame which was as they fall due in the coming enthusiastically adopted by his

months, Japan will have fellow-villagers.

alternative but to fericit. the dollars put up as security.. at length on the technique of

This is the background against selehtine digging. Dr Doemer "The peasants thought we which the Angio Japanese

Chicago, Nav, 30. finance talks will take place. began to clear all soll from the brought good luck." Dr DormaOR

Prices of grain Sutures clared said. One night the worst What remedies are likely to be today as follows. rock face.

King Kursday Me Prices pre bushel in cents! proposed? His first reward was a fine thunder and hali-storm rement-

On the British side, the view Wheat, No. 2 red sculptured relief, showing a birod by the oldest inhabitant

is taken fit a “fundamental Dec. 109(E): 19649(14). Commagenean king being greet-broke over our tent. There werd

and In vilsoquilibrium" has appeared in

ed by Hercules. Dr. Doerner be-huilmones as big ak-egy whole sterling area-Japhicae payments.-

#next.

lleves this depicts the reception fo minutes the Info heaven of Mithridates him- landscape

Was white. self, who was deifled after his The peasants came up

they to see it, we had curvived, death, as was Antiochus.

They were convinced that, wo

To lucky

people when they flund, that even our penis wwero the Inscription, undamaged, trand, ghab: the sun,

ARCHED ENTRANCE.

Then, below

In other words, the time has passed when expodionis misht bridge the gap; what far nooded now is a fundamental solution.

The British po

the arched entrance of a shaft | cleared; away the hallstones 110st | prepond

cut into the mountain cama before we began tizzing (sgala."- khan but, for Extnunge into view.`. Further digging –China:Mail Special Westcl

showed that the shaft, boqut

aight feet across, plunged into mountain at an angle of 45

Mr Dodd, who

who asked tonight degrees Stops wore cut, in the

for elec. barrel vaulting.

stone

that his namo be cancelled from floor and the p protez AGILE

ESIA “Hito? Why down: the “stinft

L the "lift "c

lion à

Sthis with-

drawsURE AVSLépáry. Misión --öt the conference on Tuesday,

narrowed to less than two feet.. Crawing through in nont of his workmen, Dr Boerner found hat it opened up again, and

Rates

fare

yellow

Feb.

Got in the third quarter the band tally especially "ainch'.

503-801% No. 1 pale craps United Prest.

AMSTERDAM MÄRKET

Amsterdam, Nov. 80.

The rubber market was quiet rection. Only a moderate lot year-end payinents into pension but steady. Prices (in guilders down in operations is expect and sharing fundaxed cott per kilo); Y PATTUAT No. 1 rubber, Jan,`........

ed for the fourth quarter, Large Mort position is seen as ar added surprise People's

· 1,76 buyers PORTRAUTOMOBIL watt No. 2 rubber Jan... No. a rubber Jan. No. 1 erepa rubber

1.70 buyers

The

Glas run up 2% points to $107- 159 buyers automobile industry has bolstering the utilities. And

Curialis operallon In Of 183 cuts dod 800 order to lessen the accumulawita higher with 80 et new

ion of dealer stocks Which

United Press.

LONDON TIN MARKET

London Nov. 30. The tim market was ongy Spot ked down five; ste to 20 -end % 8% to

was five

Prices

ton)

#

ton)

have been receive for highs and 301 with 18 touchin

Lime, and also to pave the way | The Now York Stook ||Bx...... for: the ? Introduction of 1984 **

Change bond volume model.

October1 American Stock! Dealer's stook on October":1}

volume was at $510,000

Dow Jones closing averages,

are, silmated at Around 359,600 chan

This to small decUng

40: bondi

Ant