1953-12-08 — Page 9

THE CHINA MAIL, TUESDAY, DECEMBER 8, 1953.

King Baudouin And The Everest Heroes

Page:

King Baudouin of the Beiglans with the Mount Everest conquerors, Colonel Sir John Hunt (left) and Sir Edmund Hillary (right) who was with his wife, at a conference given in their honour at the Arts Palace in Brussels-Express Photo.

Agricultural & General Resources Cannot Support

Jordan Armistice

Commission

The

Amman, Dec. 7.

Armistice Jordan

Commission today raised a protest with the Chief of

Untied of

Staff

Jowish

Nations Truce Observers against "sporadic shooting" by

In quards Jerusalem

Arab Un the quarter of

it the town, was announced here today. The announcement added. that there were no as a result of casualties the shooting, France- Presse.

JAPANESE GATT

WEAPON

India In 1969

TRADE and COMMERCE

EXCESSIVE BEARISHNESS

Markets? Rallying

NEW YORK

STOCK

MARKET

New York, Dzc, B.

Stocka lost o triffe in a quiet; scision today as traders paused

Cannot Be Trusted Too Far

By Sydney S. Gampoll, Reuter's Financial Editor

London, Dec. 7.

The rallying tendency in several commodities to take stock of the market and in most commodity indexes in the past month

after its two-week ativance.

Profit-taking was in urder

after the rise which bolstered total market valuation of stock some $2,000,000,000 weeks.

la two

is a warning against excessive or premature bearishness. But it can hardly be trusted too far, particularly if the U.S. industrial slide con.. tinues. Several elements can be disentangled. Tux-selling vs sald to be al First, stocks which were run too low during the summer had to be rebuilt. This process may Failure of pressure to deve- be approaching completion and few industrialists lop and the light volume on the have confidence enough at present to go on build-

factor also.

decline were seen as favourablo

to

factor today. Sates amounted ing up stocks beyond the reasonable minimum 1,410,000 shares, compared working levels. Pipelines have to be kept filled with 1,390,000 on Friday. but few people are disposed to overfill them.

An active opening, with prizes firm, bolrtered the total. Ameri- Can Telophone was the day's most active stock, thanks to i 5,700-share block. It dipped la to $157.

Several specfal ¡lems did very well, particularly Western Pacif which responded to Supreme Court rofusal to reconsider the suit against it by a holding eco- pany that once was its owne The common share ran up 4 points, the preferred, 4 points.

or the 1,109 Issucs traded today, 607 closed lower, 365 higher,

Sleols moved narrowly.

HONGKONG SHARE MARKET

*Secondly, in Britain and some other countries, consumption hnd held unexpectedly high. But this may be only because Governmental and monetary; policies have shown more ich- derness to home consumption Than can prudently up con- tinued.

rom

In Britain, the Chancellor of the Exchequer and other high oficials are plainly worried by (Fram Our Correspondent) the contrast between buoyant trome_consumpilon and stagnant Business done on the Stuck exports. They do not admit Exchange this morning mount-that the home market has pull- ed to $296,397.50. Noon quota-ed many goods - away The New York Stock Ex-tions and the morning's Trans-exports, but they are not dis- change bonis volume was at actions:

posed to slacken the relus still $3,182,000.

hame SHARES BUYERS SELLERS SALES further for the

market, and they

may have to tighten them. If there

serious nemployment, this altitude would alter.

New Delhi, Dec. 7. The agricultural and general economic resources of India cannot support a population of more than 150,009,000, a figure which is likely to the Census be reached by 1969, according to Report for 1951 which has just been published.

The Report said that urgent steps must be taken to stabilise the population around this figure within the next 15 years through a national programme of family planning or millions would averages were: lie from famine and pestilence.

every

Meanwhite,

effort must be made to increase the Food present level of manual

production of 70.000.000 tons 1. 94,080.000 tons by the target date of 1960. An increase of

artler alone;

be {}s

Would Tokyo, Dec. 8. necessary to sustain a popula- of existing ttton of 450,000,000 The Government intends submit a dual tariff bill to the consumption levels.

Industrialisation, according to next session of the Diet, Parlia-

Mr Minister the author of the Report, mentary Vice Forelin Akira Olaki said on Monday in.A. Gopalaswami, Registrar-

Commis-, reply to a question by Mr Yerhio General and Censis Namiki, Progressive, In thosioner in 1951, does not afford Affairs ja solution to the population Lower House Forelim Committee, according to Japan Hroblem, except Indirectly,

a limited extent, og it provide cse press reports today.

Mr Otaki made it ear that the materials needed for the the Government

wants to en-development of agricultural pro- force dual tariff carly next year ductivity. If posible.

to

produce increasing surpluses to doficlis in match increasing

uny India and Europe. Hence, attempt to plan in terms of ex- porting manufactured goods in exchange for food from abroad would be disastrous..

V

10

The American Stock Exchange volume was nt 440,000 shares.

Jones

The Dow

BANKS

-closing

HK Dák INSURANCES Union XD Underwriters

1003 1020

BAS

7.00 .1 200

1

Dec. 4 202.71

Dec. 7 282.00

DOCKS, ETC.

K. Whart

04

20 rails

DALIS

10 files

03.01

52.72

Dock

21.30 2111

Provident

03 stocks

107.3

107.41

(Old)

... 121 12.90 100

40 bends

p7,03

07.03

Provident

Comm. ure price

index

102.25 163.37

United Press.

30 - industrials

P7.34

The Rubber

Markets

Singapore, Dec. 7.

200

were

• There might be hasly (not to say. panicky) measures to re- lieve unemployment by inflating the home markel, regardless of 13.70 the effect on the balance of pay-

ments.

$1

0.10

1.

(New)

12.20 Wheelock XD 8.0 8.10 1000

It might be a sater procedure 5000 (

than it sounds, since Britain's 1000 u 8.00 balance of payments fares best 1000 a 0.10

LAND, ETCTM

HK Hotel

in a slump. But that is only 81 0.40 2,500 3 030 becaure slumps and unemploy-

TIK Land 74 7015 375 74% ment are associated with slumps Humphreye... 10.20 Really XO

UTILITES

Tram

in commodity prices.

IMPOUNDINGS

SECTION

JAP SHIPYARDS SUBSIDISED

Tokyo, Deo. 8,

The Transportation Ministry yesterday DIA cubsidies totalling About 110 million yen to shipyards which

aro constructing vesels under the latter half of the ninth shipbuilding ProgrAMIKO, according to Japaneva prem reports to." day.

temporary incantires were worked out by the Ministry

GRAINS IN

CHICAGO

Chiengo, Dec. 2.

Prices per bushol in cents:

Wheat, No. 2 red

Spot

March 1954

Dec. 2074 (it)

204(L)

May July

Sept.

Corn, No,, 2, yellow

• ༢

Spot

100%

Dee.

Payment, was made for the first time since the

Starch 1954

May

100-160

July

Sept.

Bye

Dec.

March 1034

123

Osta

Dec.

7016

March 104

313

Soybeans, Nu, 2 yellow

Spot

Jan. 1954

31974-35

Marchi

14-200

130-103

sack

for

cosis. were

reducing shipbuilding

The

pald

absidion the month of November and each vessel under construction received million yen about four

Subaidies will be pald monthly unill the current bullding programme in over. -Router.

May

July

Sept.

Barley, spat

New York flour,

$13.00 nom--United Frem.

Thailand Tungsten

Mining Firms Accused By U.S.

Washington, Dec. 7. A House Government Operations sub- committee produced evidence today that four Thailand mining firms reaped big profits buying and selling tungsten ores at United States tax- payers' expense.

pile.

The tungsten was for America's strategic stock-

N.Y. Foreign

Exchange

Canada (dollar) England-omcial

England unofficial England 30-day future

England 90-day future Australia (pound)

New Zealand (pound) South Africa (pound) Belgium (franc Denmark (krone)

Thirdly, Impoundings into tha 40,140, U.S. loans and other hoards | France (franc)..

1&2 Kts): 1.50 2.

2000 € 1.00

VO C

Star Ferry C. Light

20.40 20.70

145

.

100) xD

13.10 13.83

C. Ligh

day. No.

of

rubber per lb. Dec. 001-00

005-0032 50-602

Electric

..

so as to

REGULATE RATE

made. If no attempt was check population growth, and assuming. very conservative assumption, that the popula tion continued to increase al

during the sume tute as

the the number period 1921-51, would rise from 300,000,000 in 1051 to 410,000,000 in 1001. and 520,- 400,000,000 in 1971 000,000 in 1981,

The problem, said the Report, was to regulate this rate The food exporting countries population expansion He said dual tariff will prove of the world were not likely to achieve stability at about 450,- The target should be to be a powerful weapon for Increase their agricu..ural pro-000,000.

with th _the_next__15_years to Japan with regard to the Cenductivity-fuster-thon-their-own- eral Agreement on Tarifs and rate of growth of population. persuade Indian parents not to Nor would they be expected to Trude,Reuter.

British Empire Society For Blind

London, Dec. 7.

have more than three and pre- ferably two children national average.

on

a

Population control was one aspect of the problem. The other was to increase food pro- duction..

of

The market eased a bit to-

Closing Prices:

"

No. 1 pale crepe

(Now

Subcommittee

chairman Charles B. Brownson, Republican Tot Indiana, contended the motal ¡cost $1,000,000 more

than it should have beenuse American' ofleats were "boodwinked."

The Congressional investigators also charged lax administration and hinted at possible kickback. produced an goldentified

Closing Rates which quoted one. That-

naturally tighten the markets Germany (deutsche mark).

Holland (quilder) concerned while the impound-Italy-official... XD 10.20 10.40 7000 r 1030ngs are in progress.

23 70 500 28.00

100 or 28.70 1500 a 23.00

The U.S.

supports .000 282 progressive upword

exeri A puli of

Norway (krone) Portugal (escudo) Spain (pesela) Sweden (krona) Bwilzerland-free

Middle East

500 8.80 market prices as the immediate 200 or 2019 post-harvest pressure passes off. 1000 or 20.00

But there will be of course a

Egypt (pound) Iran (riel) Iraq (dinar) Turkey_lirā).

Jan. Feb. No, rubber per lb. Dec. No. 3

Sandakan No.4

Light

1.30 Spot, rubber unbaled ... unquoted .Tdephone 20,00 Blanket crepe

501-51

IINDUSTRIALS 08-10

Cement 181 18.70-500-18.00-different story if any of the -United-i*TORE.

impounded hoards are released.

strengthen while Copper can Chile is accumulating her put; it might not do so when cube-metal Textile Corp. 3.65 0.13 4200 #2 6.03 she sells her current output; it Texico (pera) MISCELLANEOUS

Yangtu 0.15

LONDON MARKET

London, Dec. 7. The rubber market was steady with No. 1 Rsa spot quoted u! 17% pence per lb. Prices: No. 1 pol is Settlement house term Jan.

Feb

March

17-18

3736-10

173-18

177-18

Jan./March

17-18

April/June

30-10%

July/Sept.

1812-181

General markets, cif basis, parts:

88,-

Doc. Jan. Teb.

1732-173

unquoted

Linquoted

The Report stated that, in 1051 food production was about 5,000,000 ; 70,000,000 tons, about

short of the actual requirements. On the basis of existing levels consumption, internal food production would require 000,000 tons by 1901 10 feed. population clear000,000 tons in 1971 to feed a

Tapping out his pipe, the Chairman turned his head to meet a questioner. His eyelids flickered slightly, but the expression in the eyes remained unchanged. He was blind.

hues.

There

the

It

4

of 410,000,000, 90,- Estate crepe thick

POPULATION CONTROL

pepulation of 400,000,000 and 108,000,000 tons in 1081 to feed $20,000,000, assuming that the None could know his subject not confined to Africa, more completely than he For

are one million blind people in population is allowed to grow

unchecked. John Wilson, a directne and the British colonies and Bocroiary, was doubly qualified society works among them.

But a rate of deyclopment of to discuss the

of the hus branches in 20-colonies. It report

has set up 12 new schools for agricultural productivity of this British Empire Society for the

taking Blind.

ore in order was not possible, the bind and six more

Into account the need to grow He told the story of "river course of construction. blindness" In East and Wes

the more cotton and other non-food In most of the colonies In the blind used to live by Africa. It is carried

begging crops as well,

The Report suggested that the bite of the simullum fynu Now they are being trained as

and in ecuntry could not expect to pro- Insect which prefers the darker farmers and craftsmen

Indigenous occupations. Braille duce more than an additional Wilson described

il the alphabets

principal 24,000,000 tons of food annually. languages have been introduced Such an increase, udded to ex- and a fuller life opened for thelating production

of 94,000,000 sufferers.

tons could sustain a population The Empire Society is of not more than 450,000,000. voluntary budy but its work Population control, it wan has been assisted by the local stressed, was not only necessary, {overnments

various but unlikely -and

como about A Regional quickly without the Government national groups. Omice has been set up in West taking some steps to bring Africa and one is planned for aking

aim should be to with about. The East Africa. Next year with limit the number of birthe.co the ald of the Canadian

that they did not materially, ex- National Institute for the Blind, another is to bo sot upred the number of deaths and thus achieve A · substantially in the West Indies. Mr Wilson

the habits of the fly: Its breeding grounds in rivers, the Injection of a parasitic worm under the human

skin; Journey to the cornea. of the eye to rock' light; destruction.

the

the

worm's

eye's

Sts

Ho outlined the work of the

during Empire Socity three-year existence.

to

FIELD UNITS The Society's field unlis have controlled "fly spots" In East Africa, he said. In the Kodern Valley in Kenya, known, locally will visit the Islands to make stationary population before Bs the valley of the blind," crrangements.-London

they used

Insecticides

10 Scrvice.

cleanse the rivers of ales, And

Express reached 450,000,000,

"The task before the nation is firstly to bring about such, a

thin

Rope

STORES, ETC.

Dairy

10.00

Watson

23.70 23.00

21.10

COTTONS

New Printing Compounds

Akron.

"Latin America Argentina-osiol

Dee: 7-** $1.02-11/20 2.3(-2/10 2.02-2.08

2,01-0,32

281-1/16

325

2,8114

2.01-9/14

00201%

.1450

„0028

23120

3250

out-

Brazil (cruzeiro) Bolivia (boliviano] Chile-officiaİ

.0723 ,0050

.0060

.8091

Columble (poso)

4024

1.00

1104

.550

24007

For East

ather India, (rupen)

Pakistan (rupea) Hongkong (dollar), Indonesia (rupiah) Japan

2110

3045

.1785

might weaken

or break when Peru-tree..

Uniqusy (porn) she sclis the accumulation, Venezuela (bolivari unless the U.5. stockpile takes It without cutiing its takings.

land dealers saying ho belleved he was protected by t "two percent pipeline that runs to Washington."

Brownson said the Justice. the Department is studying record for possible prosecution. He did not claborgie.

NO FRAUD.

Alvin B. Snell, who supervised the tungsten buying programme as a representative of the US Emergency Procurement Servico at Bangkok, testified that he knew of no Iraus, collurion kickbuck.

or

The United States Inunched the programme in 1061 when it began signing long term con- tracts for delivery of some, $18,- |000,000 worth of tungsten oro from Thailand at a fat price of

a-ton $85

The purpare was to stimulate production und insure a long-

range supply of the strategie material for the United States.

The programme went away in May, 1952, when tungsten prices ton. fell sharply below $85 a

360 yen to US$1 The -United Pre

Fourthly, the rally in com- Singapore (Siraits dollar) modity is partly associated with the rally in Wall Street after mid-September. To Soing CX- tent, this was a justifiable rally: at its September lows Wall discounting all or

all than

of perhaps

recession that is foreseeable for some months

more

no non United Press.

The B. F. Goodrich Company Street was NEW YORK MARKET

has developed new unvulcanised New York, Des. 7. crude rubber printing compounds Rubber futures today closed that are claimed

to eliminate industrial 15 points higher with sales of sulphur "blem," increase plate ahead. a contracts,

life, and reduce curing time up to

Sald to be Spot No. 1 Rss were quoted at 30 percent.

the

first 213 cents a pound. Prices of "non-blooming" printing com-less justifiable. futures closed as followsim

pounds ever developed, the new series of compounds are designed primarily for use in Flexographic 21.806 printing

DN.

March May

Jwy Sept. Dec.

21.30b 21.50

21.65 21.45b

21.050

of

Another aspect

sccris much

World Cotton

Prices

CEL.BUT

New York, Dec. 7. Prices of cotton futures teday closed as follows:- Spot December March 1954 May

October

31.04.03

012

$3,04

7222

*37.50%

-United Press

DANGEROUSLY BUOYED

Wall Street and some other recom- but are also mended for other letterpress ap-markets are dangerously buoyed Jus

by the Inflationary aspects of December plications.

Washington political surrenders March 1955 United Press.

Mr Robert

vice Yohe

only to the farmers) which May AMSTERDAM MARKET president sales,

B. F.is

ba disruptive. Some

NEW ORLEANS www Goodrich's Industrial Produce policies have long been describ

New Orleans,. Dec. 3; Amalerdam, Dec. 7. Division, said that the new com

Prices of cotton futures today: The rubber market was steady. pounds eliminated free sulphur cd ds literally ruinous. If and Prices closed today as follows (in resilient characteristics which when they prove to be just that, closed as follows:

strong Spot guilders per kilogram);—

printing even the statistically permitted high-speed

and December No. 1 rubber Jan. 1.70 buyers A

March 1054 were caster to commodities such as cocoa 1.14 buyers and that they No. 2 rubber Jan.

May No. rubber, Jan. ..........

168 buyer mould than other rubber print-coffco might not go unscathed.

There is no statistical strength July, No. 1 crepo rübber Jan,

October 1.86 buyera ing compounds. Plate life was -United Prem.

said to be increased since there in a general industrial recession. December

Overshadowing all the March 1989 was no sulphur to crystallisa in the plate-China Mail Special.j overhanging clift of the U.S. Bay

surpluses.

Volta River: Project

Exchange Rates

river blindness in children S'hai Making Textile very married couple will ne-nessee Valley Authority who is in der Pepe

change in public oylylen that man of the United States. Ten-

dropped from 37 to one par

cont

But Mr Wilson pointed out,

West, African

By 13 ü

cept it as their duly that they Machinery Parts

should

avold Improvident Tokyo, Dec. 7. Communist China revealed to- maternity", it' said.

Ropert

Is

While they Jabi, cowering,

20

33.00-08

33,00

3327b

27.286 -United Prem

sub-committee produced. evidence showing that the four mining firms then began buying. up large quantities of tungsten in the open market and selling It to the United States for $69 tor:-and ful, quick proft, Brownson credited the State Department's Embassy at Bang-2 kok with Qling the complaints which finally resulted in suspen sion of the contracts earlier this year.-United Press.

Cotton Markets

New York, Dec. 7. Liquidation and hedge-selling depressed the cotton futures 10- day.

Bome hedging was credited to Far East truce-news. New Orleans selling was believed to be in connpellon with straddle operations between Now York and New Orleans market for

Trading.

was alow In view. Government's December

crop forecast tomorrow/ne

The average guess of de mem- of the New York Colton ...bers of the

Exchange placed the 1953 crop

hand-to-mouth buying and US Commodities: 16,010,000, bales, det 1.

efforts to stand from under, can

Exporters! reported a more Accra, Dec. 0.

activator forclen Ingáiry}}fór - US - Turinbos Dr Arthur Morgan, 1st Chair-

was done in the local dominate markets regardless of

New York, Dec., cotton but the overall situation: Exchange market

their eventual justification.

Leading commodity markate uncial morning at the following ratenț—

Such attitudes always involve with but few exceptionswim was quiet United Prekv 15.60 seme Hopper pipeips: sought proved "smartly today in active £144,000,000 Volta River pro- na or too (per 100) 3040 short end of being rqueezed trading.

(per 100)

But the US. official hoarders

the Gold Coast to advise on the Sterling noto (per £1)

ject, said today that. It was Singapore (straita)

simulium family to thint of the textile machines are being built in sugested that for tçisible and wolf planned. Indo-China plastres (per 100) 47.77 ure | to overloaded that they

tougher proposition. It ebines

from a different branch of the day that replacement puris for

·Compared with other projects about an organlıq-

ohaxcoptionally low cost proj

East African species. Its brand- in Shanghai to rehabiliate war-tion will have to be created. It grounds are spread over a damaged North Korean factories, should have a sufficient number

of streams, which Os elimination..

Radio Peking said

that 40

There

In recent weeks

sure the Voile plan might be JAPANESE. BONDS

Ject for electric power,

The proposed scheme, for the world's largest aluminium" "pro-

workers who will have ere lextile weaving accessories were friendly access to all mothers in the country. For this purpose, is no the sent to North Korea caller and the function of birth control producer, and the largest hyd

fly will eventually be elimin. that more were on the way.

a subsidiary electrio plant in Africa' la to be paganda must be China hna ated. Meantime, the Society's

un organimation handled Jointly by curative teams move from tent engineers to rebuild war activity of village to villaga and to ny damage and lus granted whose main furation should en Copst, and Briti suiticments: with good effect, satellito $350,000,000 worth of brace the whole fold of mater: Aluminilim

Mr Wilion's history of the old in a 10-year economic pact: nity and child Welfare-Chipa and the Brinki

Mail Special work of the Empire Society is-United Press.

the Gold

Canada

Alumilum

CompanyChina Mall, Special.

Export news and the move- might not dare to try squeeze ment of wheat to the Eastern USB polnis, brought fairly thorp On the contrary, where the gains into the real market

Buying and a short covoring: London Dao law appears to force them to scally shrozbad sontierqd-profita nded withhold supplies until they can taking and hedging, they

2017 | extort k pruit on the foordinate At Chicago," wheat

closed 201% prices which they have them

to 6:24 cents: higher; a solves had to pay, they scom 1% to 3% centr higher yal mora_inclined › ta: strelch: any Ad Winnipeg, wheat word

tossible point so as to meet any priced at 18044 dents, për bushë demands they can find and to for No1 Northern/ and

vold squeezing the markets. No. It was at 105

United Press,

Routers is

ther

ri!

London Foreign Exchange