THE CHINA MAIL, TUESDAY, JANUARY 5, 1954:
Three Swiss Airports
TRADE
COMMERCE SECTION
·Page":
platte material
new Argentiur- Provident Peron of Argentina Iries out a
near Buenos Airc built moter-boat, at the port of Olivon, This is a new industry for Argentina, where the State Indus- tries at Cordoba are now making boats from with glass fibre. Thle was the first appearance of the motor boat, and Pre Ident Peron was the first to try it out reaching a peed of about 120 km an hour. I is equipped with a Ford V-8 engine. President Peton ia pase chat at every Art new Argentino product or sportive event and appearance of this boat will las rutuen be used lo motor boat races in which
Argentina is represented.-Express Photo.
NEW BANNER FOR CANADIAN TORIES:
"NO TRUCK OR
TRADE
WITH SOCIALISM"
Ottawa, Dec. 30.
Prepare For GERMAN FIRM CLAIMS IT IS NOW WORLD'S Biggest shipbuilder:
New Russian
The Jets U.K. Shipyards Warned: Foreign
Berne, Jan. 3.
Switzerland, one of the busiest * transit
world's
points for international air traffic, is preparing for the age of jet travel,
Ruper-
The country's three modern Inter-continental air- ports Goneva, Zurich and Basle —all have plans for lengthening their runways to take the great Jet airlines of the future.
Zurich (Kloten) Is at present the only Swiss aleport with a runway long enough, at 2,600 melres, for a jet airliner Buch as the British Coniet 10 land with a full load
complete
safety.
At least one of Kiolen's two other runways, which is now 1,900 metres long, extended.
Geneva (Cointrin)
tat
Lo be
hns
a
1,000-metre runway which is dus
to be extendea in direction
"Reduce
Costs"
HEAVY FALL IN ORDERS LAST YEAR
London, Jan. 4.
The German shipbuilding firm, Deutsche Werft of Hamburg claims it has regained its pre-war position as the world's biggest which will take it just over the shipbuilder. The Company launched 17 ships with a total ton-
nage of 224,000 deadweight last year.
Princh frontier.
Bala (Blotzheim), the newest
of the Swiss airports, which also serves the nearby French city of Mulhou ls still in course of construction. One 1,000-metro Funway has been in uke for w metres and another 2,370 year
is due to be finished by nexi February. The airport buildings, half of which will bo on Swis soll und half French, will be added last.
lung
Berne
HELICOPTERS
(Belpmoos) han
од
B
A director of the company, Dr W. Scholz said, since the end of the war, 57 vessels with a total tonnage of about 2,150,000 d.w. have been launched by Deutsche Werft. This put the company ahead of Kockums Shipyards in Malmoé, Sweden, and Harland and Wolff at Belfast, he claimed.
In London, a director of the Tramp Chartering Corporation of Panama, Mr J. C. Carras said British shipbuilders should take steps to reduce the present prohibitive building costs.
secondary airport where only NEW YORK
small planes cap land la ino weather. But plans exist to link the Federal capital into the incin European network with a
dequate airport. The planners have been encouraged by the success of
Q #ummor servico operated in recent years between Berne and London.
the milia
The experts do not think that "such a service will be practical inlil helicopters rating 20 to 40 be used. At tho people can present rate of development, the estimato
Buch that
machines should be available by about 1900.
Canada's Conservative Party, defeated by the Liberals in the last five general elections, has decided to try to rebuild its shattered fortunes on the foundation of free enterprise.
The battle banner "No Truck or Trade with Socialism" was unfurled in the opening days of the first Parliament to sit since last August's election in which the Conservative suffered overwhelming defeat.
Ingasurer
an
Con-
the Con- He then pledged In that campaign, the servatives matched promise for Fervatives to all-out support of free enterprise, to the right of promise on welfare with the Liberals in a desper-competition within the law and ate bid to break loose from the the incentive of profit which, he tho label which had said, had helped to build "reuetionary" Lcen pinned upon them
They
for the Conservatives.
nation.
Bghung were
the It was an important declara- Liberals on their own ground tion of principle and has drawn and the result was disastrous a sharp line of demarcation between the Liberal and Con- servative parties which, in the last election campaign, were in danger of becoming indistira. guishable from one another,
At the time, there were mur- murings among the party's rook and file. They protested that, the voters could find no difference between the two major parties and the voters were asked to choose between a party which welfare promised to support
and another measures
party which had already put them in
to effect.
There was, they claimed, no could party which the voters support if they wanted to cast their vote against the slow but Hendily advancing Ude of social- ism in Canada.
noted
STOCK
MARKET
Yesterday tho President of the The Furness Shipbuilding Co.
Conference, U.K. Shipbuilding
Ltd. has announced that in 1953, Mr J. W. Elliot said new orders it launched seven for merchant vessels placed ingregating
vessels ag- 102,341, gross tons. British shipyards in 1953 totall- The Burntisland Shipbuilding cd 500,000 gross tons which Company launched fvo vessels was only a third of the tonnage aggregating 22,871 gross tons. ordered in 1952 and an eighth of that ordered in 1951.
af
oil
Pin Ball Drives
Them To
Policy Noted In U.K.
Drink Or Death foreign polley
Tokyo, Jan. 4. Pachinko, current pin- ball orase which has ready driven countless Japanese to drink, divorco of death, claimed five more victims hore,
Mineda Kurprawns, *12. could not keep away from the local pachinko parlour near his home in Tate- The title money be made
fisherman disappeared. His wife left him,
Bo Minoda poisoned his four young children and then himself,
that
The
Tax authorities estimate number of pachinko
machines In Japan had passed the mil- Ilon mark. China Majl Special.
HONGKONG
SHARE MARKET
(From Our Correspondent)' Business done on the Stock Exchango this morning amounted to $432,048. Noon quotations and the morning's transac- tions: BRAKES BUYERS SELLERS SALES
HKJunk
1500
BANKS
INSURANCES SHIPPING
K. Whomt
Dock ..... Provident
+9
Lombard
Kata May.
24
148
55 300 3
DOCKS, ETC.
220.00 2114
10.00 13.10 800 § 13
12.40
S'hat Dock Whee tout
1.10 0.05 2300
8.00
A
Provide
LAUNCHINGS NEW Launchings announced during Mr Elliot sald British ship- the week included the motor builders were fully aware of the vessel ESSEX of 10,000 tons threat from foreign competition built by John Brown & Com- and his company (Swan Hunter pany, Clydebank for the Federal New York, Jan. 4.
and Wigham and
Richardson Ltd) Steam Navigation Company of Projects La ink
Stocks, after their disappoint- had embarked on
New a large re-
Zealand. The
Capetan eltics and airports bying year-end performance, today construction scheme to turn out Kostis built by Swan, Hunter Swiss
Hunter In the study helicopter are sili
swung into the new year with tonnage at greater speed and at and; Wigham Richardson for the stage.
an advance which added ground
a lower cost.
Tramp Chartering Corporation bo their total
However, $1,000,000,000
also launched, whatever good in- of Panama was market value,
may The vessel is 485 feet long and Most of the gains came late 1entions the shipbuilders in the day
In active trading to recapture orders, leaders it will be equipped with a Swan engine all of the 39 unions
forming the Hunter which boosted stocks in
Confederation groups a point or more issues and Engineering Union
Shipbuilding developing 1,300 bhp in service.
The HUNTFIELD,
16,850 havo such as Chrysler, Bethlehem caled on their members to ban D.W. ton tanker was launched
499 | LAND, ETC. Steel, United Aircraft in the time and plecework as from by Sir James Laing & Sons Ltd., ** Hotel Industrials: illinois Central,
Sunderland, for tho
*K Lehd Hunting Atlantic
Coas: Lane,
Nickel January 18,
Humphreys Steamship Company of New- The action is intended to press castle. The vessel is 328 feet UTILITIES
Hely in the rails.
for a 15 per cent and has a scheduled trial As the list turned up, activity their claim quickened and volume for the wage increase. The Minister
for Labour, Sir Walter Monck-speed day totalled
1,310,000 shares.
und has intervened Motors, steels, oils, and rails featured in the rally. The car-holding meetings with employers'
and unions' representatives. gain- riers made best progress ing $1.47 in their average, their widest rise since October 29.
Industriais gained $1.99 and utilities, 18 cents.
Owing to her central position in Europo, Switzerland is mucu In demand as a transli point both for continentaj and Inter- continental tráfe.
DEFLECTED
Her geographical advantages transit traffic 38 a centre for
sitice the have been increased war by the presence of the "Iron Curtain." Many east-bound lines from North America and from north and northwestern Europe the "Iron are deflected by Curtain" and forced through Switzerland.
s$בע
Plate
ton,
1
seven tons of countries.
is
វិong,
were 49 of
15
of ker
1000
new
Loeden, Jan. 4. Many officials here bellevo Russia is introdusiig a
calculated to stimulate" foreign trade in a move that would shift the main emphasis of the cold war in 1954 from the polilleal to the economic front
While economists were specu lating the effects of a possible alump in the US., departmental heads here who have analysed and recent Sovlet documente events said there was "solid evidenco" that Rumia wants to move RWBY from economic isolation.
Reports on this trend have
boen made since 1953 to the British Foreign Office, Board of Trade and Treasury, Inforened sources said. One serious im- plication, the sources sald, la that countries notably in the
Middle East, Southern Asla anch Western Europe might be less amenable to Western nld.
The Soviet's willingness to do buslices on a barter basis, the sources said, soems to have a
special appeal for -under-
developed countries,
They pointed out that Russia and Red China now have trade agreements with Egypt, India, Burma, Pakistan, Ceylon and Indonesia among others.
Soviet shipping companies are operating 20 regular lines to South and Southeast Asia.
In their analysis, the officials here expressed the baller that the need of these countries for Western assistanco will decline wider as Russia turns toward foreign trade.
Omdals believe the Soviet polley in part reflects the Com- munist thesis that the capitalist world
be torn apart
con
economically.
Perhaps anticipating a reces- sion in the West, the Soviet cal- culate that this will mean fewer row materials will be bought from the Middle East, Africa and Aslo,
13 that will
idra One Russian consequent lowered wages bring discontent and provide a usual feld for Communist 4000 is 8.00 agitators through leftist trade
tinians to
provoke strikes. An Informed source here said he was convinced that. Listruc- tions were passed to these agents from the meeting of the World. Federation of Trade Unions in Vienna last October.- United | Press,
#48.05 500 500 1,000 e 7915 18.00 .......1.0235 1.97715 2,000 or 1,85
Tram (0)
Tran
C. Wight 10) 20.90 C. Ligt 10.00 Electric
144,200 14
8,300 4 1090 20.30 2015 140 @ 20:39
10.40
000 m 19.40 1,200 1056
63 or 37
1,000 160 2,000 @ 1.0215
25,40 23.00 1,300 or 2011⁄2 21.70 25 000 on 21.60 1800 & 21,00 103 21.70
Watson
COTTONS
ERDders Textile Corp. 140
MISCELLANEOUS
Yangiare... 0.13
of 15 knots. The Furncas Shipbuilding Company has announced the Jaunch
the single-screw Macao turbine tanker MELIKA bullt
Teephone SHIP LOSSES
for the Afran Transport Com-INDUSTRIALS
Cement Meanwhile Llyod's Register of pany of Liberia. Length overall
..... 10.80 15.10
16,60 Hope Shipping has announced that is 602 feet and the vessel will Metal Indus. 10 world merchant ship losses as a have a capacity of 31,170 tons. Motar stocks had gains rang result of casualties in the second It is designed for a trial speed STORES, ETC.
1 Ing from 3/8 (General Motors)
Mali knots.-China to 1% points (Chrysler), Stude-quarter of this year
ships totalling 04,804 tons gross. Special." baker rose 14 Nash-Kelvinator This compared with 56 ships of
to according 16. Bisselsar 36.
France-Presse,
London, the Leinand for steels up 108,230 tons, in the first quarter the U
The
K. Ship- 'losses in- Mest of the world's main ph
when the
promised atided Industry
second quarter
six British vessels, building Conference, Mr J. W. lines call at Swiss airports en greater
auto output. Higher
Billot, and 17,023 tons.
said new
for orders route to a wide variety of production is expected to bring aggregating
vessels,
placed totalling 6,451 merchant vessels
In destinations. Thus, the travellers
into the steel in new buying
other Commonwealth British shipyards in 1953 totalled
500,000 prot from u wealth of connec-dustry.
Tobaccos strengthened.
gross tons, which is only tions, the air lines profit from
ordered Of 1,110 issues traded today,
The US. merchant feet lost a third of the tonnage extra passengers whom they can
year and an take aboard in Switzerland, and 743 advanced, 183 declined, 204 six vessels, amounting to 5,480 in the previous
tons, and the Norwegian feet eighth of that ordered in 1951. the Cantonal governments profit were unchanged.
a sharp warming This was The Now York Stock Ex-lost five, aggregating 2,086 tons. from Intensive use of the air-
change bond volume was at Ship condemned or broken up both to work propio and to the ports on their territory,
during the 2,905,000.
second
quarter industry's sup
afler the numbered 80, of a total tonnage world
and the fall In 100 Korean war of 240,002, compared with
in freights of a total tonnage of 281,868
ship values meant that shipbuilding the first quarter. Of the second 82.22 quarter total, 38 ships aggregat-virtually any price were a thing 100.65 ing 113,724 Lons, were British of the past, he said.
9730 vessels.
Only by increased output and 15721
economical The total tonnage of oll tankers by more -United Press.
completed in the U.K. in 1953 peditious disposal of existing is expected to be about 000,000 orders would further orders bo gross tons according to estimates stimulated, particularly released by the Petrolour In-ship replacements for the British
This is op- merchant, fleet.]
The only concern which does TORIES OF OLD
not profit from this busy transit Correspondents In the Parlin-trame the Swiss national air scml- company, Swissair, mentary Press Gallery
private enterprise depending on that Mr Drow's speech was like subsidies from tho Federal the speeches made by Conserva- Government. tives before the war, when the for party stood unreservedly free enterprise and rewards for individual initiative,
Swissair watches foreign lines with transit rights in Switzer- the land taking away much ol "local" trade, while it is unable to obtain similar transit rights theat important foreign airports.
One of the Swissair's biggest
for example, grievances, against the British European service from Airways daily London to Zurich and Vienna.
BRITISH REFUSAL
Broadly speaking, the Con- servative plan is to base party's attack on any govern in the bus ment interference peas of the country where pri- vate enterprise could do the job as well or batter.
The clock, however,
farm
cannot
The British translt rights
ia
The American Stock Exchange volume was 420,000 shares, Dow Jones closing averages were: 30 industrial 20 rails
15 utilities
69 stocks 40 bond
Comm. future price index
96.50
US Commodity
Markets
Bureau.
mation the same as in 1952.
cons that changed
and
1000 as 1.30 3000
500, 740
Exchange Rates
New York Sugar Market
1
New Yark, Jan. 4. World No. 4 sugar futuren closed today unchanged to 2 points highes with sales of 04 ecntracts.
Domorite No. 4 sugar futures closed unchanged with sales of 129 confricis, Future closings:-
Contract No. 4 (world)
Mar.
Stept,
July
Spal-«cents, per lui fob Chiba) done in the locat
Contract No. G Exchange
market this March morning at the following rates!- U.B. dellar (per 31)***.*** 5.78 July 18.13 Sept.
May
3.21b
Business wan
unofficial
55b
5,886
Sterling noto (per 21).
Indonesian rupial (per 100) 290 Nov. Flam ticals (per 100)
5.740
3.75b
orders at
Bingapore (Straits) Indo-China plastres per 100)
25.20 | Spot-(cenia por 15, cif NY.
1.77
ex-dock) 7.42
-United Press.
4.57
and ex-
cargo
The Importance of these orders Singapore Rubber
New York, Jan. 4, to shipbuilders is indicated by Leading commodity markets the fact that tankers will ac- advanced steadily today with count for at least 50 per
cent
of cocoa and coffee futures push-the total tonnage completed in ing to now record high prices. British wards this year-expected
Cocoa futures rose the dally to be
1,250,000 in permissible Umit of one cont a gross tons.
ing heavier
approximately
Afte:
3
·
THE ROYAL BANK
OF CANADA
Head Office, Montreal
CONDENSED ANNUAL STATEMENT
AS AT 30th NOVEMBER, 1953
Goverment and other public securities, nct ex-
ceeding market value
Market
Singapore, Jan. 4 opening
steady
the
Assotr
Cash, cheques and balances with other banks............. # 600,920,111.74
072,141,254.90
101,301,756.80
149,280,473.70
004,885,750.13
51,213,788.75
26,188,044.90
$2,895,850,189.16
11
Having found that there is no profit in associating with the Liberals at the left of centro, the Conservative Party has re turned its traditional position This will probably Involve on the right and intends to do assaults on Government wheat battle from there.
marketing plans, buying up of
for❘ Zurich, while adding to the pound, with surpluses, and mibsidies
Q condderable MORE TANKERS AVAILABLE market cased on reling. There T.C.A. MONOPOLY
primary products. They have prosperity of the Canton, de- volume of buying orders sull The Anglo-Iranian and Bhell as some trade support at lower.
the market closed unsatisfied in the late dealings. The decision, reached at party already turned their attention prive Swissair of local possen-
Oll wheat gers on one of its traditional Coffee
scored conferences which investigated to the glut of unsold
*t. steadier. Prices: gains of about companies hero are to dle levels and one cent a pound.
continue the practice marokers! No. rubber per 1b. Zup. Bd34+57 the causes of the election de which is plugging every termin routes. Many other British ser-
the London Tanker
Feb. 86-573 Mar 500 Grains weakened as
buyers in vlece pass through Zurich and fent, was put into effect as soon al, grain elevator and
Geneva, but Britain has so far stayed off, apparently expect-anal to make twice-yearly an
0429-4436 producer selling nouncements (April and October) No. rubber per 1b. Jan. 50-da refused Swissair transit rights in
with the low income taxes in of the current market level for No. London for its line to New York.
Spot unbated Salmo over time charters. delicate balance between effect, plus disappointment The
The Anglo-Iranian company
NEW-YORK MARKET the slow foreign demand." the Confederation, Swissair and
At Chicago, wheat closed pointed out that the use of the
brokers awards
New York, Jan, 4. Welfare measures which affect the semi-autonomous Cantonal
off 3%
to 3
as the public Rubber futures today closed The attack was based upon a individuals have proved ex-governments is held by the cents; soybeans
Index of freight cents.
charges was decision of the Cabinet not to tremely popular. These include Fedoral Air Office in Berne.
At Winnipeg. wheat was adopted in circumstances where 15 to 20 points lower with sales
́úť one contract. permit Canadian Pacific Air baby bonuses, old age pensione, In the aeronautical sphere, as
the
of tanker priced at 180% conta, No.
tonnage Future closings:- fines
a subsidiary of the pri- unemployment benefits and help in many other aspects of Swiss Norther was quoted at 105 was resulting in extremely high March
Canadian for the blind and dubled, 110, the
rates for there is also tremendous centa vately operated
Axtures prompt
und, May Pacide Railway to operate
in general, an These have been accepted by rivalry between the interested
abnormally air cargo
service in competition the Conservativos as things Contone. with Trans Canada Airlines, Läät have come to stay.
While the Swiss airports aro
During the past months, which is Government-operated
however, a radical change has actively ́to, attræet ?! preparing The big attack will be alm companies with fat airliner, The issue, Mr Drew
take
in the -- tanker place so much
tonnage situation and all indica- Canadian Pacific Airlines would be allowed to any cargo
as Parliament opened, with a building in western Canada. ringing attack by the Conserva- tive leader, Mr George Drew, on the Government's socialist be completely turned back by
the Conservaïlvos, Jennings.
wheth
the
ed at keeping business froe te Swissair Istudying the prob promote the Industrial growth
in and development of the country,lem of buying jam. But pur-
berfimpossible with-
chase would be m
competition with Trans-Canada Airlines" but; whether the Gov- It is where we belong, win out government, ald; and the ernment stood for free enter or lose, and we hope to rally all Federal Air
prise or soolallam. He doclared anti-socialists around us, one warda vaution'alid” iao'an advice that the refusal to grant Cand highly-placed Conservative, said, from Americana son dian Pacing · Airlines a cargo | “At least we shall have the consider that Swis Hounce was fallam, no male| móral stimulus or being true to safely-Cake Liiduse") ter what the Government chose our colours China Stại Ing 10 bell- AL
•
B
shortage ot
п
CHICAGO GRAIN unstable freight market
Prices per bushel in center
(Closing Príves Who?, No.
Spot
July
Dec.
Other securities, not exceeding market value Call Icans
Other loans and discounts
Linbilliies of customers wunder letters of credit Other assets
20.300
Liabilities
20.366
203 Cepital, reserve and undivided profits
Notes in circulationhe Deposits.
20.33b
United Fr. LONDON MARKET JMLpadon, Jan. 4. The rubber market was very
tide are that, for some con- quiet with No. 1 Rae spot quot siderable time there will be ed. at 17-1/18 pence per Ib. available an Adequate supply of Price
to ihanet charterers!(ren
taken by the com
ormined in the hormal
Letters of credit outstanding Other liabilities
· 105,209,175.62
89,333,04 2,734,044,07693
51.213,764.75 1,018,814.8
1,800,858,180/10:
OVER 790 BRANCHES in Canada, West Indies, Central and South America. Offices in London, New York and Parts,
No comments yet.
Private notes are available after approval.