1953-12-21 — Page 9

Tito Agrees To Withdraw Troops

THE CHINA - MAIL,

MONDAY, DECEMBER 21, 1953.

COLOMBO

Commonwealth

Talks Will Be

TRADE and COMMERCE

PLAN

COMMERCE SECTION

U.K.

Speaking at Jajce, Dosnia, the mountain town and former stronghold, dur- ing celebrations of the tenth anniversary of the foundation of Communist Yugoslavia, President Tio (walking among townsfolk) Indicated that he was ready to agree to the simultaneous withdrawal of Yugoslay and Italian troops from the Italo-Yugoslav frontier. — Express Photo,

Canadian Christmas Most Opulent In History Of Country

Ottawa, Dec. 20.

For the great majority of Canadians, the coming Christ- mas will be the most opulent in history, although for some a shadow of uneasiness will cast itself acrosss the festive board.

For most people, the two ingredients for the maximum material joys of Christmas are present-more money than even before and shops literally overloaded with merchandise of every description, ranging from motorcars to foodstuffs.

The end of the shooting war in Korea has lifted a load of anxiety from the minds of relatives of Canadian troops serving there.

For those working in Indus- glow with nccustomed bright-

and

fry there never Wea 1 more secure Christmas. Production in most lines is going full blast and employment. Is five per cent higher on the whole than a year ago, despite drops in somo sections.

Trained

men young women graduating from trades ond Universilles are being

eagerly snapped Great

expansion In mining manufacturing and the petro- chemical Industries hus vastly expanded horizons and oppor- tuniiles.

schools

the

up,

Yet there are many for whom

Christmas lights will not

Sin Cleansing: Not

For Soviets

Moscow, Dec. 20.

farm-

and

nes: Western Canada's ers, glutted with wheat livestock, are worrying about where they are going to -sell their produce,

She Preferred Death To

Pinball Gamės

Ontario's Ingge gold mining areas have been paralysed by Denkh a bitter strike which has already -Justed-many-weeks-and-may-o-parlours

on all the winter. Privation has already come to what was once

seeking credit;

ed

arta

nervous

inuste. Finally he gave her son an overdose of sleeping pills and took some herself.-China Man Special.

Held Next Year

(FROM OUR OWN CORRESPONDENT) The second annual report of the Colombo Plan was published at an ap- propriate time. For it will take up a good deal of the Commonwealth Finance Ministérs' time when they meet in Sydney early next month.

The Colombo Plan for South and South-East Asia differs in one very important respect from the wider plan for Commonwealth development. Its primary object is to prevent a drastic decline in living standards-even mass starvation-in do area whose population is growing at the rate of 8 million a year.

Emphasis is therefore on projects designed to expand food production.

On the other hand, the atmation

cannis with their own of the Commonwealth develop-voluntary labour. ment plan as outlined by Com- But

from apart

giving monwealth Prime Ministers at technical advice, more advanci Economic Con- countries can do little to help their Londonj ference last year to strengthen their less fortunate partners to the economy of countries help themselves. Most of the concerned and increase their

recognised methods of effeating competitive power in world intemal savings

are of a kind markals and to by Improving that can be put into practice their balance of payments, bring only by the increasing

people.'

prosperity to their countries tents of the)

con-

Efforts are therefore centrated on expanding produc- Ilon

either for export or to reduce dependence on Imporis.

Safe Crackers

The Air

On

640 Paulo, Brazil,

Dec, 20.

hadlo listeners were

treated to an unusual pro- gramme tonight—a micro- phone Interview with two burglars caught with the loot.

The two reluctant artists, who had cracked and emptied a safe in a com- meroll office in a main # street of 'Sao Paulo, lost their way while climbing over the adjoining roof-- tops.

They clambered through a window to what they thought would lead them lo, safely but it turned out to be the radio auditorium where a "quls" protrimme was in progress,

The

master of otre- monies grabbed them, haul- cổ them in front of the "miko" and Interviewed them for the benefit

ef listeners beforo handing them over to the police. China Mall Special

NEW YORK

STOCK

MARKET

SHARES FIRM

Market Took Strike Threat

In Its Stride

FROM OUR OWN CORRESPONDENT

··' London, Dec. 20. The Stock Exchange reacted with surprising calm to the National Union of Railwaymen's threat to call out their 400,000 members unless their wage demand was met.

Such a strike would have paralysed the nation's transport system and precipitated an economic crisis even greater than that of 1947,

While talks were going on in) the early part of the week be- tween the Government and the Transport Commission

and the Union, glit-edged and Industrial prices were marked down to forestall any large volume of selling.

But this

never materialised though the market naturally re- mained subdued.

On Monday and Tuesday, while efforts were being made to avert a strike, prices declined only fractionally. Next day. with the first rumours that the strike was off, they showed a marked recovery,

The threatened rail strike and the usual pre-Christmas luti were partly offset however by * number of cheerful features in the industrial share market. As a result the Financial Times in- dustrial share price index at tually finished a shade up on the week.

COURTAULDS RISE

Some of them have nlready begun to direct their efforts 10

New York, Dec. 20. means of encouraging voluntary saving. Some taxes have been

Stocks advanced during the make ad declines. and the wider plan for Con-ministrative machinery for the

The differ collection of taxes especially in-session- Wednesday although por cent on

NEW YORK COTTON MARKET

New York, Dec. 10. Cotton futures, reversing three weeks of ragging prices, run up gains ranging to $1.15 a bale despite a sharp slump on Thurs- day.

The market, meeting some local and mill demand, ad- vanced in four out of yo scasions.

At Friday's close, the list ruled six points lower to 23 points higher-or 30 cents bale lower to $1.15 a bale highcz than last Friday.

But though the Colombo Plan increased and there hes boen past week after a long series of scrip Issue together with a fore-have

general

to general move

monwealth development in scope and purpose, they are faced with essentially the same come tax more effelent. problems.

#

M

Marke; observers pointed out that trading during the weic Was mally an Inter-market operation, Hedging, enostly from The

announcement Courtaulds, of a

by the Far West, particularly Cali- one for one formin where loan differentials encouraged freer relling, cast of a total dividend on new continued to appear on moderate one capital equivalent to 7 per cent advances. Price fixing has been (against an equivalent of 5% only routine and generally

old) were limited to setbacks. responsible for jogt Uncertainties as

to what form week's optimisın.

the new farm legislation will take whee Congress reconvenes

rise centred

the final session of the week

оп

largely

a countries have set up also was a good one.

Many in finanalat eireles felt

must concentrate on essentials for a defeit is on- the absence of tax selling, and

was

would

INVESTMENT CHANNELS

and

for it is generally because it creates extra blem, ton has kept their prices high.

Tisks of

the

statement

down

Traders bellove, the cotton

be Increased slightly over bales to 21,000,000 boles.

This prospect and some dis- appointment over the size of loan entries last week accounted

some

of the selling on

HONGKONG SHARE MARKET

funds with compulsory THREE CONDITIONS contributions from employees

Gard Ceylon and Makaya have that the upturn heralded the This sent Courtaulds' shares has restricted exports. Most According to its latest report, each imposed a levy on rubber beginning of the traditional rocketing 3/6 to 50/7% and led foreign spinners appeared dis- the success of the Colombo Plan exports to provide a fund for year-end rally. Such ralles de- to renewed interest in other inclined to make any commit- depends on three conditions: replanting.

of rayon issues, veloped, it is noted, because

ments until after Congress has 1. development programmes

But though this benefited the

aug other Way of making funds the reinvestment of funds re-textile section as a whole the Beeted hedging and liquidation The decline on Thursday re- and make the fullest use of all available for development but celved in interest

and dividend rise would no doubt have been resources, human, material and this method is fraught with payments.

even greater had it not been for in the face of their demand. financial:

donger. As the report points points

Fairly heavy New Orleans sell- gloomy 2. developing countries 'must

from Selling to establish tax fosses the this course out, to follow follow sound internal polices inevitably aggravate risks

Ing in the New York market also of has been heavy this year, ac- Lancashire Cotton Corporation

was a factor. designed to check Indiation and Inflation that are Inherent cording to market experts. It has that group profits were

in secure the highest possible level

any bitensive investment effort centred on the low-priced issues. | again this year from 24 million) acreage allotment for 1054 will TEXTILE INDUSTRIES

of saving and investment;

Traders have been restricted to to £3.4 million.. 3. the present flow of ex- Employment in the textile

Most development projects to sell the high-grades. ternal aid must be continued not result

Two years ago they were £73,000,000 In any Immediate industries is down ten per cent

Demand for and if possible increased.

the top ranking million, S Tokyo, Dec. 20.

addition compared with 1951 owing to

The second

to the country's supply lactics for investment funds, of these con of consumer goods The current Japanese penchant

SAVOY WAR ENDS decreased buying and foreign

ditions is probably

deficit pension funds and other institu the most nancing intensifies this for "Pachinko" pinball game competition. The prospect of a

important

incothes trade agreement with Japan-Indirectly resulted in the death

The corporation paid out 20, for recognised that

market enjoyed per cent (including a 3 per cent Thursday. This week'u the rate and has not helped the outlook in of a 31-year-old mother and her

and therefore extra demand. range of economic development

good leadership in the "blue"Coronation bonus") against 15 these quarters.

Unless Ave-year-old

son, police sald

more 10 depends upon the extent

advanced chip department.

per cent for each of the previous entries Into the lon for the The govertiment reported here.

which the country

can satisfy their

need The mother who lives in the

concerned countries

even but for consumer as well as

this is prepared to help itself.

as capital Steels, chemicals, tyris, motors, two years,

prevent its week ended Dec. 11 of 370,302 had

goods, countries

which cannot aircrafts and electrical equip sweetener did not breakdown after Ove "pachinko" INCREASED SAVINGS

find and any

alternative...means of ments were prominent among shares falling 2/6 to 49 shillings. balea, bringing the total for the

seaso?1 to 4,048,407 bales opened behind her Tho Commonwealth Prime financing development may have the rises.

A rise of 2/3 to 52/0 in the United Press, home. She told police she slept Ministers stressed this principie. to choose between

the dangers

sharca of the Imperial Chemical in a closet to escape the noise The amount of savings which of inflation and the

SPECIAL STOCKS

Industries was another satis Canada's most favoured region. of rolling steel balls and record-would be available from ex falling to develop their national Miners are walking the streets

There was nothing in the news factory feature of the market. ternal sources.

they

said, cronomy to keep pace with the to affect prices either way. A This was due merchants are

to reports that, would at best be smalt In re-growth however from the need few spċeinl ilems affected special | following the introduction closing their

of population. premises.

of Once

lation to the flourishing towns are dying of

velopment

size of tho. de-

stock Thesa Included colour work study methods, output in It to programmes.

encourage extra economic anaemla,

saving television announcement which one department had risen 18 per countries

demand

for Radio cent while the labour force had concerned should try to direct

saving as themselves adopt policies which there is into useful investment. tion plan which brought sharp would increase

flow of But private investment, whether gains into preferred Issues of Savings through work study Davings.

It is by domestic

and a few in a single year, or foreign American woollen,

according to The

Prime Ministers realised capital, must awall provision of others.

one report, amounted to £1.5 however ibat this would certain basic

facilities such as

million.

(From Our Correspondent) Inevitably be a slow process for roads, railways, tele-communica Trading increased with daily countries with low incomes and tions and so on. And there can average volume at 1,002,411 Among the more speculative little

Buskers done on the Stock margin above basic needs be financed only by public au- shares, against 1,413,847 shares issues, Interest began to wane in of existence.

Savoy thorilles"

shares the, report says. daily in the previous werk.

following last Exchange this morning mounted The Colombo Plan report puts Later on, measures needed to Industrials OID Wednesday week's sell-out by Mr Samuel 10 5021,440.30. Non quotations the same thoughts into slightly encourage domestle capital in-made their best showing since who had been bidding for and the morning's transactions: different words. "The burden vestment

wit BETVO also to last October by rising, more control of the group to the SHARES BUYERS SELLERS BÅLED of economic development

friends." attract foreign capital.

"and their than three points. They closed directors pro grammes in any country," It

the week at 283.64, an increase There was nevertheless a sharp BANKS FOREIGN CAPITAL

"IK Bank ... 1605 So far it has cost the colony says, "has to be borne in main Some of these measures have of 3.03 points. Last week that increase in the

price of the nearly £400 sterling to cover from the resources of the in fact already been taken. In average lost 2.80 points,

shares from 40 shillings on INSURANCES freight and installation

too but their `ald mast countries foreign enterprises The rails rose costo country self. External

shillings on Union aftor workmen at the Victoria

belief that assist the process are given cqual rights, with showing was poor compared Wodnesday on the can greatly Memorial Hall made the ex- and thay even at cortain stages domestic concerns and facili- pensive mistake of putting the be vital if the vicious circle of tics. ore given

refinished at 97,02, up 80 cents. In have to justify the price of 02/0 for

Ada Nav 2.1.15 mural up outside the hall instood lack of saving and Jack of mittances of profits as well as the previous week they lost they paid for each of Mr

development is to be broken. for repatriation of new capital 2.11 points.

Samuel's shares. But on their DOCKS, ETC.

K. Wharf ... "But however important it can investment.

With a rige of 80 cents the continued silence, the price fell

DockTM

2114.- 2004 mural had, to 1.2

only be supplemental.

But competition for foreign general average of 65 stccles back to 48/3,

Provident 10 12.00 13.10 has said that. It cannot ralux be taken down hurriedly and

(N) 12.00-13 It is therefore necessary for capital is focen and amounts closed at 107.44. It lost 1.27

Elsewhere Its defence programme, every-re-erected inside before, Singa-

markets were Wheelock 0.05 B.106,900 € 8.10 · countries of the area to make avaliable are in any case for points in the previous week, Apparcetly, local officials even one experts an income tax re-pore's humid weather and raln sent lec-cream supplies to the the Federal budget next April.

duction of some proportions in | spolled it.

the maximum effort to mobilise short of what is needed. There Utilities lost 28 cents-Unlied generally quiet. Teas were firm LAND, ETC.

8.00 1.785,000 18.09 simple their own resources.”.

is no

on higher auction prfees obtained HK Hotel to this Press. festival and police

for the commodity but rubbers

775 7B 1253.7734 and to

problem but one approach to it

turned easier.

400 EL 20 suparate "thore who got blind

SELF HELP NEEDED

Humphrey.. 17.00 is suggested in the Colombo Flah drunk and came to blows, while tories retallers have

The question then is not only report.

↑ Neuity 1.901.15 1.000 ₫ 1,90

Rus C... how much money other countries This is to invito foreign

UTILITIES can afford to invest in economie capital to participate in speelfie

Tram development of backward areas, projects on "mutually agreeable but also what they can do to terms.

Mild weather for the second steressive winter has enst [ and over fur dealers gloom their retailers. Sales are down by 18 per cent.

With the general election out of the way and the Liberal Gov- crnment firmly in power

for

Costly Gift For Singapore

Singapore, Dec. 20.

A Soviet Georgian newspaper -criticised in "religious festival" held near Tiflis where chickens were sacrificed and their bicod smeared on

forchend o girl's "to cleanse her of sin."

The strange rites, described by the newspaper Zurya Vostoku, were carried out recently in the Garcubansk district, 13 miles

A 00-foot mural from are expected on Festival of Britain, which the from Tillis, Georgian capital.

the home front. The Govern- Zarya Vostoka said hundreds ment has announced is inter British Government

chickens and sheep were ton of speeding up home-build- offered

sacrifices. Theng by reducing the down pay- ment on moderate-sized homes shricks of women were heard,

to ten per cent. and someone suggested that a swallow girl should young

lones "o save her soul."

of

is

another Iour years at least,

great things

the

prosented

to Singapore, is proving an ex- pensive gift.

WAGES HIGH This stimulus 10 building Though the newspaper

trades at all the con-

associated sidored this "superstitious per-enterprises is expected to keep formance" big joke, the employment and wages high, of inside. editorial writer was indignant that "certain village Communists irade and police officials" to watch.

and

came

to

showing excessive zeal in the desire to plense the Lord."— China Malt Special.

A Home In All

Armoured Car

Although

the Government The 37-panel

The mural, "Cavalcade of the inven- Commonwealth",

was pointed considerably higher than by Polish artist, Felix Topolski, year ago. There may be อ

China Mail Special. drastic pating of retail". prices béfate Christmas hetually comes. In most Canadian-homes, the

therefore essential that Colombo Plan courlifles have to option; a capital simplica-been reduced 23 per cent.

the

such

answer

Pocketbook as one Indian Citizenship help them enerves Thuso problems/of finance aro

the Christmas gift ist is long.

There is, with some exceptions,

n quietly confident feeling that even better things are on the

way.

Rights

obvious way

by common to nil

development

ta

42

Lombard

with the industriale, Rails the Savoy directors would soon SHIPPING

Waterboat

Pakistan Buying

Jap Textiles

tenching the people of develop-p Commonwealth Finanen All said today imparts of cotton

more

Karachi, Dec, 20.. Commerce Minister Taffazul to worki ing countries

The efficiently-in Iteclf a valuable Ministers may be expected there cloth from Japan on private form of saving. New Delhi, Dec. 20.

This method fore to give a Dolemba Fian account would be Keensed in the has in fact already been

| when- they, Tubet "alexb; month;j++ in the Japan Pakistan trado one. - China Mail Sir John Kotelawala, is expect-

agreement. ed to pay a four-day vidt to other parts of the Common- New Delhi in the middle of wealth. January.

an

Canada's Christmas for 1939

·Alo do Janeiro, Dec. 20, will, for the most part, be Brazil's Mint is to purchase a | affluent "small" dzot of armoured cars to Special..

transport money and valuables

from city to city.

Built

On

П

14-ton Mack

chassis, the fully-armoured cars

to able

will

carry a load of

ten tons of valuables and will

be filled out comfortably to

J

CINEMAS FULL

The Prime Minister of Ceylon, by some Colombo Plan case report' mory. Nhan passing noiiconext shipping period pa provided

with the help of experts from

Up-to-date farming methods Sir John will resume discus-are being latight by such thoans morn with Prithe Minister ogricultural extension Nehru on outstanding Indo, services, mya・・ the report, and

Sterling Notes

In Circulation

London, Dec, 20.

quiet, demand being selective,

Goldmining shares were also,]

International

Sugar Agreement

London, Dec. 19.

The

· International ・・・ Sugar The Minister, who took office Agreenient of 1958 has been fati- only ten days are, told reporters Dod. and will go into effect on

36 millon Jomitry 1, the between 30 and rupees, worth of cotton textiles Sugar Council announced

The

Coubell Jn # published

Aid would be imported from Japan

delegations at en government account

under

the current*** series of the Coutell In announced worth, of cotton textiles abroad of Baron Paul Krondcker, head

The Bank of England-state-recent provision" for government "this"

Kuala Lumpur, Doc. 20. Treasury officials here raporica Ceylon problems including the Governments are making-ofteris enable guards to live in them, that despite economies caused by question of eltizenship rights to Inspire the wish for new ment for the week ended Dec. mirchase of 40 million rupees on Jong journeys,

the rubber slump the Malay for Indian settlers in the Island, knowledge and better ways of 16, rouds my follow Sofas, which can-bo trans-man-in-the-street, is still pack- formed at night into bede, willing the einernas.

Nehru and tile. Former |

The practice is spreading Publis depósita 777993

be installed in the small living · Bars, restaurants and other Ceyloneso Prime Minister, Mr local communities Helping theme pas déposite spriteri zoom A minute kitchen and a pleasura businesses reported Dudley Senanayake, disciliand, wolves "by providing for their Government petrities) 1516 complete sanitary gystem will dimeul times, but taxes from these problems-in London last own needs, for "ukámple, By Type securlimen · alsobo nited in the carg.... einernas are hardly affected.* Jude, when they amet, for the || Building, monds" and "nahoời, ar -| zaDK, TRAUG. China Mail Spécial,

Router

coronation-Reiter,

Receipts

Tha

HHC-Land

20 @ 1010

.. BOYS

40 843

19.80

1,000 ## 2016 Star Fatty 145 14

C. Light (0) 13.70 13,80 9537 - 13.00 (G, LIght (N) 10.79. 11 1.000 10.80. Electrics, V. 29 30.20 1,500 69 29.10 Macao Eles. 10.70 600 10.00 Telephone 27.20 1,000 @ 27.20

INDUSTRIALS

Cement Rope

* STORES, ETC.

Dairy

10 19.30 .200 @ 10.00

225 25,10- 300

100 à 23,1

1

21,40 91.70 1,200

5,000

8,000

Watson

• Crawford 26,00 COTTONE

Es Texilia Corp. MISCELLANEOUS

Yangtzze

020 83% 2,000 # - 032

Exchange Rates

Business was done in the local 'exchange "markay" this unomical morning at the: followi

When the government Beplan delegate,as chairman purchased cloth had arrived, he of the Council for 1954; 9. U.S. dollar :iper #15) mid, about 20 million rupees "Mr EP, Kelly, CBE, head storing noto per £1 worth of cloth purchases would of the United Kingdom delegadonesian rupiahe, be licensed da private account. tion, war elected vice-chairman Biam scale per 100)

Kingador? GİTML]: Tera? | ----United Press.

»United Fress ¿; ·

Kehinde Calon plastres, (per 100)