1953-12-18 — Page 9

PAY

New South-East Asian Group

CEYLON

BURMA D

THAILAND

JAPAN

New Southeast Aslan Graup

- avantually would include

Japan, S. Kareg, Philipines

PHILIPPINES

MALAYA

NEW

Singapore

GUINEA

INDONESIA

PROPOSED SOUTHEAST ASIAN COUNCIL

would coordinate functions of these four Allied pacts

ANZUS

存款

AUSTRALIA

TASMANIA

NEW ZEALAND

2999 COUNTRIES IN CHURCHILL'S PROPOSED ASIAN ALLIANCE

THE CHINA MAIL, FRIDAY, DECEMBER 18, 1953.

BIG 5 COUNCIL || CANBERRA PACT

ANZAM

MÁLAYA

BRITAIN

M. S.

AUSTRALIA,

NEW ZEALAND

FRANCE

AUSTRALIA

NEW

AUSTRALIA NEW

ZIALAND AUSTRALIA

NEW ZEALAND

«AP Newsfeatures:

TRADE and

COMMERCE SECTION

How Synthetics And Technical

Affect Markets

Progress

By Sydney S. Gampoll, Reuter's Financial Editor

London, Dec. 17. The cut in U.S. prices of industrial alcohol illustrates the effect of substitutes, which have cut into its markets in paints, lacquers and same other lines.

This is only a minor aspect, compared with the way in which synthetic rubber has cut into natural rubber, synthetic detergents into the oils and fats, synthetic alcohol itself into fermented alcohol, and the way in which rayon may cut into cotton or aluminium may cut into the other base metals,

Technical progress has its drawbacks, as the U.S. television industry is finding: sales of black and white sets have slumped because people are waiting for the colour sets which are not yet on the market. Output of television tubes is one of the U.S. business lines in which output has lately fallen by as much as 50 per cent.

in

Technical progress (real or This is a reminder that eur. Spurious)

nedielne has, tailment of synthetic rub- caused health sente's which ber output does not necessarily seriously affect saics of white raise total production costs. bread in Britain and of cigaret

Since thei

curtailment tes in the US. The latter are an amounts to concentrating the rare Instance whore sales for the lower output in tho most full year 1953, and not merely efficient ZEALAND

plants,

using the for recent weeks, are behind cheaper raw materials, It could let year.

conceivably reduce them,

Why Churchill Plans New Pacific Pact

To Succeed ANZUS

By ARTHUR L. GAVSHON

Associated Press Foreign Correspondent

London, Dec. 17.

Work is being intensified on a British plan to create a wide new defence system in the South Pacific to supersede their ANZUS (Australian-New Zealand-United States) alliance.

The project is being canvassed now among certain Commonwealth nations, informed diplomats reported. The United States, France, Hol land and other friendly Pacific powers will be approached when firm proposals have been drafted.

Prime Minister Churchill reportedly fathered the idea., The British leader has never concealed his dislike of ANZUS from which this country -was-barred-against-its-will.-The ANZUS-three-are-bound-to-regard-an attack on any one as an attack on ali. Churchill believes ANZUS by itself would be unable to cope with, say, serious Red Chinese aggression --just as France cannot win the Indo-China war alone.

The informants, who reported Boll, according to informants, threats through the projected this, said as a first stop Britain restuled to Australian and New Southeast Asian Council. will soon come up with a pro- Zealand leaders British dissatis But one thing is sure: Early posal

for an

Allied defenco, faction with ANZUS as I stands, in the new year British diplo- political and economie couneli in not merely because they believe macy will move formally into Southeast Asia.

by excluding Bain it strikes action in the hope of "getting The council would be charged at a vital Commonwealth con- American, French and Dutch with the job of co-ordinating|cept -- one for all and all for support for the job of acting the policies of Its non- one. They also stressed that up. a Pecurity umbrella in the Communist members. In these firm basis of unity has emerged south Paciile. felds. Right now a variety of for the scattered powers of the Two key factors in the under allied bodies are trying to do Pacific because Chinese-type taking: Will the United States this separately.

Communism already is spilling be ready to shoulder new com- The scheme for South

a

over vast, unguarded borders mitments on the mainland Pacific defence stem is one of staring, in many places, into Asia? Will the new Aslan states of India, Pakistan and Ceylon be the most ambitious this nation open, Internal warfare. has tackled since World War 11. The British argument runs willing to commit themselves in Its broad strategic and politi-that the text of ANZUS itself the cold war against Communiam cal alma:

the treaty la a stop-gap by entering Bays

treaty build-up obligations?

To hook up British air, land arrangement comprehensive

and sea forces in the Middle or

To restoro

Britain's

more

definite

ΟΙ

of

Anti-sub Device

11 be

NEW YORK

STOCK

MARKET

This is the first signifcanturtallment is bound to raise dip in more than 20 years,

costs: they ought to merits attention as a reversal of tained in standby condition, so and presumably are, main-

New York, Dec. 17. one of the most persistent up that they can be used again in Profit-taking cut into the trends in any form of consumpan emergency or be sold if the gains which turned the stock Government is serious about market up decisively yesterday seiling

them.

after eight sessions of dull But, the dropping of the ex-casiness.

synthetics pensive alcohol-base

tion.

That

contrasts

As

a usual

now

the

Con- 30

all

tho

after stocks

widened

U.S. Wharf Strike Threat

tto

Washington Deo. 27, A three-man Presidential fact-finding board has go- ported to the White HousO that East Coast longshore- men are expected to wRIK sui when a no-strike court infunction expires Christmas Eve,

Declaring that bargaining was at 6xslandstili, the board added: "Unfair prao- Lice charges clog the or- dinary procedure of the National Labour Relatiom Board. Any last offer of employers must

ba measured ALE fruitless formality. Rejection almost certain”......Realer.

The

Rubber

Markets

Singapore, Dec. 17. The market opened steadier

on better overseas advice but

an

Inter Eagged with trade

support poor.Fair turnover in low grades. Prices:

No, rubber par ib, Jan. 6734-1734

February

17-ATX 379-877

March

No. 2 rubber per lb. Jan. 0674-57 No. 3 rubber per ib. Jan. 1912-5845 No. 1 rubber per lh. Jan. 0315 Bpot rubber unbgled an Hanket crepa ·.. No, 1 pals

00-00

Upfied Preks,

LONDON MARKET

London, Dec. 17. The rubber market was quiet with No. 1 Res spot quoted at 17% pence per tb. Prices; Na. 1 spot Ram *****, AT2-1714 Settlement house term: Junuary

February

Marci

January/March April/June

July/September

176-1736

1752-271

1234-1712

General markets, cif basis, portas Zanuary

December

* Page 9

US Company

To Protest At British Competition

New York, Dec. 17. General Electric Co. intends to protest to the U.S. Govern- ment against is purchase water wheel generators valued between three and four million dollars from British companies.

The company claims that Bri- tain's lower wages enable its Industries to undersell Amori- can Arms.

At a press conference today, Chairman of General Electric,

Mr Philip D. Reed said torill increases or revisions of customs regulations might help to curb what he described as "cut- throat foreign competition" in America

He did not bolleve American markets should be closed to foreigners but he foll that ex- in defence, should not be forced pensively tooled plants, helpful

to shut down as a result

foreign competition.

of

DEFENCE BUSINESS President of General Electric, Mr Ralph J. Cordiner, said ho anticipated a decline in overall of defence business but a riso about five per cent in its non- defence business next year.

Tho

company would seek more

non-defence business through strong selling methods, augmented by promotion moro advertising.

and

He estimated the 1054 nd- vertising and sales promotion outlay would be increased to between 45 million and 60 mu- lion dollars Increase of 15 to 20 per cent compared with this year,

In the first nine months of thin

Electric year, General business increased 20 per cent In shipments.

1732-173

37-1710-17-9/10 For this year es a whole, con-

11-1/16-17-3/10 sumption of cigareties in the

February

374-1732 Estate crepe thick .. unquoted US, may be down by between 2 and 4 per cent from last year. cuts average raw material costs. The renction como in the Estate crepe thin. 18 nom.

Foreign trado next year for -United Presi

the company and for U.S.A. us with

synthetic is session

NEW YORK MARKET a whole would depend on the year-to-year rise of between 40 petroleum-based, price yesterday's gains by fractions to

New York, Dec. 17.

operations of the Export-Import casiness and 6 per cent,

in the oil products | a point.

Rubber futures today closed Bank. If they were tends la cut them further.

normal

CIGARETTES

the company would have good The other specifie factor is Trading lightened consider. 31 to 45 points higher with sales

contracta fably from the fast pace which of 8

foreign trade, said Mr Cordin threat

Dealers, attributed the declineer. Otherwise, a substantial Stackening of general busines

accompanied yesterday's ad- wine surplus which ha vanee France is partly blamed, but cannot be to be jettisoned as alcohol. About totalled 1,000,000 shares, com-

Sales for

business tho day mainly to the absence of con- amount of foreign the whole explanation

sumor buying.

would be placed elsewhere, to 40 million gallons on

Spot No. Rss were quoted at sumption of cigarettes did not

por Ib. Future fail below the previous year plus French alcohol are pl-pared with 1,880,008

reparted to be available yesterday-the heaviest trading 2012 cents

closings:- even in 1930 or 1938, when at which about 9 million have of the month. accessions caused drops in al-been shipped to the U.5. at a

May most all other lines.

cut price,

The realising was most marked į July in the recent "blue chip" ludus- } Sept In the whole of this century

This is a reminder that the in leaders. Du Pont, up a Dec. so far, the only previous year prices are not confined to North point at one time, finished 4 Marchi to-year dips were in 1920 which America: in several commo-point lower at $108 General. AMSTERDAM MARKET had a very sharp recession; 1931 dities they are. more like a Electric, which touched off the and 1932 at the bottom of the worldwide phenomenon.

advanco lato cn Tuesday, and Great Depression; and in 1949,

ran up sharply yesterday, finish- a recession year, when the dip

od unchanged. was limited to a hall per rant.

Industrials US, cigarette makers might do bettor to blame their advertis-

ing.

Advertising ane brand as "the cigarette that takes the FEAR out of smoking" plainly implies that there is some fear to be taken out.

One expert has put it that if i

you advertise that your brand is healthy while all others are lethal, you don't... Inspire much confidence in the product as n whole,

HONGKONG SHARE MARKET

(From Our Correspondent).

Business done on the Stock Exchange this morning amount- ed to $746,465. Noon quotations and the morning's transactions: BANKS

HK Bank 1005 1615 30 @ 1810. INSURANCES

Lombard Union ***** Underwriter SHIPPING Asla Hav DOCKA, ETC.

K. Whort ..* Dock Provident

*

shares

as a group finished 20 cents lawer on average.

Rails held better, closing with two-cent gain in their average. Tobacco stocks, recent weak spots, firmed. American Tobacco- ran up a point to $629% in active turnover. Reynolds Tobacco "B" added and Lorillard

Demand centred in Willys. Overland. It dipped % to $10%.

Of the 118 Issues fraded to day

B48 advanced 401 declined, 332 were unchanged. There were 31 now highs sot, 31 new lown,

The -New

Stock York Exchange bond volume was $3,149,000.

March

The

20.33

29.40

20.401

1.83

was

No. 1 crepe Jan.

Amsterdam, Dec. 17. rubber market easier. Prices closed as follows (in guilders per kilograni);— No. 1 rubbor "Jan.

1.65 buyer 1.00 No. 1 rubber Jon. No. 3 rubber Jan. No. 1 crepe Jan.

1.00

1.64 -United Press.

GRAINS IN

CHICAGO

Chicago, Dec. 17.

Closing Prices Prices per bushel i cents: Wheat, No. 3, red :

For the

at Spot present at least, Americans have the wind up about smoking. If they switch to swools or finger-nails there is in the ono case a problem af adjustment and in the other› a cass of dead loss..

-- EFFECT OF TV

In Britain, at a time when there are dire suspicions that the consumer-goods. 'indistries are going to line their pockets

all ot

of television, this particular consumer-goods industry could devoutly

television that wish had never been invented: it 'was on television that

the British pubile were first Informed of the alleged relationship between of the cigarettes and cancer lung. (It is also the Industry the Chancelier on which, as ruefully remarks, his budget fo

dependent: he

makes 2008 million a year out of on of 11.), statistical correlation between the two things is al- Helicopters and aeroplanes most certainly phoney; but the the security needs of Commons (made up of the United States, carrying apparatus developed

colonies France, wealth states, Emplo and allied

рожств.

Britain's Parillo Islands,

East through the agency of regional defence system, Commonwealth and other Britain's hope therefore is friendly Pacific powers.

that a Southeast Asian Council, war with mainly consultative func weakened influence and prestigetions to begin with, would serve in an area where she retains to: vital trade, territorial and Dovetail, the activities of four political interests.

ailled agencies now operating in MAP A PLAN

the Pacific. They are ANZUS, Churchill last spring accord-ANZAM" (a staff-planning body ingly ordered his political and

Australia-New comprising defence planners to map a plan Zealand-Malaya), the five-power that would take into account South Pacifle Political Council

Aids Search

For Oilfields

include Australia, New Would (Now Zitain, Australia and from the anti-U-boat gadgets

Molayan Archipelago, Indo- China, Burma, the Indian sub- continent, France, Holland and

United States. the

For months Commonwealth, planners have been studying the problem. It has

roached

treaties.

moat

The

-(0) ..... 1180 12.90 2000 @ 12.00 Provident

He said the company expect- ed fow if any prico increases next year.—United Pross.

World Cotton Market

New York, Dec. 17, Cotton futures moved lower

trader today reflecting

dis- appointment over the govori, ment's latest loan flittures, issued yesterday.

and

Hedging

quidation

caused the decline. Most selling

wha

absorbed through mlil

ing against textile opera-

A dowward adjustment of 81,907 bates in the cumulative loan entries covering cotton left the

total in the government's hands at December 11 at 4,860,- 500

bules instead of 4,948,467 that otherwise would be in- d'eated.

The net stock of 1853 crop cotton in government hands after taking repossessions into account was 4,828,173 bales as at December 11,

Bwitching

operations from nearby March Into later months also was a feature of today's trading. Nearby March established a new seasonal low.

20014

Deo. 203% (11) 1994 (1)

2014

87

040 04755

The American Stock Exchange volume was at 420,000 sharay,

Dow Jones closing averages

March

May

206-2033 20844

July

1073/2

Sept

Corn, No. 2, yellow

Spot

18714

1.13

DA 01

21.40

8000 @ 1.1715

Dec.

*30. industriala

pa2,07

March

20 rails

May

15 4lities

B337

July

B& stocks

107.34

Bent.

ed-bands

Comm. future price index

Byo

Blow

--United Preas.

Det

March

Cata Dec.

70%

7812

Boybeans, No. 2. yellow

Брав

March

Bpot

May

Jan.

July

Marcis

20314-304

Ock.

Mav

300-30

Dec.

July

March

Sept.

23914

Barley pat

130-102

$13.30m -Ualled Press.

May

NEW

12.10

WhoBlock 0.04 0.10 2200 @ 8.10 LAND, ETC

HK Hotel... 6.62 0.70 1000 @ 8.53 1000 € 5.00 600 8.05 7714 70-8007745

11K Land...

2004 79 3000 7715 ...... 1,0010211⁄2 15000 t 1,00

Realty

RTS UTILITIES

Tram 20.30 2011 Sur Ferry C. Light (0) 19.70 15.00

10000 € 900.

2004 20.30

Winnipeg Grain ch

Futures

Winnipeg Dee, 17.

Grain futures closed today as

100 11.00 follows (in US cents per burhel); New york four, 200 lbs.

C. Lig (N) 10.40 Electric

..... 29.90

29 100 @ 29

1000 13.70

1. Onla 2000 44 15.80

500

Dod 10%

May 1000 28.00 July

100 € 20

"Ryo

:

1400 € 21.00

Deo,

May

July

Batley

24.40

Flaxseed

Dec.

May

Dac clinical research has impressed STORES, ETC: 3000 @ 18.90

public, the British

Tefephase "..36.80 INDUSTRIALA

Comment Dalry1 2412 24.70 21 21,40 Watson

Crawford 24.60 25 COTTONE AN

Iwo.... 3.95 3.0015 Texilla Corp

*

7600.000 1000 .05 4000 4.50

*40% 0,30 8000 @ 635

ŽISCELLANEOUS,

Vanglaze

7

Exchange Rates

United Press.

US Commodity

Market

Back,

New York Sugar

Market

July

Oct.

Dec.

NEW YORK PRICES

March

May

Closing Prices Dec, 10 Doc. 17 33.40

201

22 08 22.77-78 1393 33.03-04 13.05-04 32.54

22.2

32.20

32.46 42.32b 32,486 32.31b -United Press.

ORLEANS PRICES

Closing Prices Dec.16 Dec. 17 3130 31ón 33.00 5,77 33.27 53.04 33.07-08 22.53-54

37.40h

ль

22.20b

3224b

32.40b Akzb

32436 32,31b

United Press.

BAO PAULO PRICES

Prices of cotton futures today. closed as follows (cruzeiros per

New York, Dec. 17. World No. 4 sugar futuros to- day closed one point higher with sales of 17 contracts.

Domestle No. O sugar futures kilogram):- closed unchanged to one point Marcis

Kuy lower with sales of 171 con- | Juy tracis. Fulme closing

Contract No. 4-(world)

Jan.

March

MAY

July

Spot-(tenis per. ib. fob Cut)

Contenot. No,

Since

་་ the industry has never looked Business was done in, the focal Unomical Rxchange." market, this Up: That not good momion, sa, the following traini............

New York, Dec. 17. precedent for those other in-plar (per. 11)

6477 Hadging and liquidation inch theletide note" (per" £13. dustries, steel and oil, where the dangan rupias (per 1001 100 in and cotton futures fan M price increases, however justi, gan amala „K per 100)

tured an irregular price move fur time,

*****ment in leading comma Nov fod, were made at an dwicward Bingsporo (Sumito

jury Indo China planteás:'(per 1001 *: 745 today.

some doctors, somo members of and the Canberra of the war are helping in the

and moro Zealand, Past between Australla and search for new cllaeids

members of the American the New Zealand.

In North East Assam д public, THE DOOR

Percival Prince twin-engined The Aming of the break in Open the door to France and acroplane carrying

U.S. cigarette consumption is angneto- Holland with their Asian part meter sont from England by

In this also worth noting. ners in Indo-China and Dutch Hunting Geophysica ia being first quarter of this year, pur

usyd.

cigarettes - wero New Guinea.

chases of Sot a basis of eventual com The magnetle recordings give | per cent up, to forestall price about the rims at that rise took effect the operation with such countries as the geologists clues

and of March, of rocks

the under stage of

of inter-governmental con- Japan, the Philippines, South kind sultation,

Korea with which the United ground,

Then they security

can

deduce Churchill recently sent two states has separato

whether all is likely to be men to the region.

found. British plans are still forma,

In Dutch New Guinea, where chief of the Imperial tive and therefore subject to general staff, has been discuss change. Matters of timing and in sroduced a year, explara

350,000 tons of crude oil is bes Pacific, and Far East defence of method still need to be tion for now folds is being pe planning in peace and war with sotties Harding and Swinton Sarried out on a largo penje Australian and New Zealand

Worlc was lower because. mtaff chileta, 19

back Inter this month, many a 300 men with: 60 or Viscount Awinton, CommRbinat· may decide | of food and equipment · had to reasons for wealth Relations secretary, has that to aprond, a defence net-50 transpartod hrough

tie political work too Wide too 2000, across thick, swampy jungle, Investigating aspects with the prime ministers the Pacifle would be unwise. It Now it is bang. of Australia and New Zeland may decide to concentrate for by helicopters flying Soon he is to so the premiers the time being only on planning olearings out of India, Gerlen, snit Pakistan. Teammon afforia to meet sammen Londen.

top Hard-

ing,

Ing

besu

Sept.

ex-dock)

307

·8.30

18.60

t#30

18.30

18.30

(In the United States, the average price of 18/30 middling cotton at designated spot mar». Bakote was 32.80 cents a ib. Soles 4525 at these contros · totalled 28,247 320

bales,)-United Prest, mis

6.480

-0.52

1.67

Commdegion house lauldalon pot cents per lb. się "NY" * INDUSTRIAL ALCOROL)." NY Coffee Futures and selling of stop-loss orders brought weakness into grains :)

"At Ciljengo, wheat closed Cocoanut Oil & Copra ftpoffe futures to off 14 cents; soybeans up as follows:

to 84

the wosknee):

Industrial alcohol one

bogn, taking

cal peer ta zako

Press

LONDON FOREIGN EVEXCHANGE

Landon, Dec. 17.

Fareign exchanges rates closed as followsim

13/10

7714

are

0.014

A New York, Doc. 17. wheat was

Copra toca was quoted at Brum cents pay bushel $2121⁄2 pet short ton, cif Pacino de, and for No. Coat. Coconut oil was quoted

United at 161%" cents per 18, elt Wera Kuroh

COLIS