1954-01-11 — Page 9

THE CHINA MAIL, MONDAY, JANUARY

1954.

SIR WINSTON CHURCHILL -- his left arm out of a sling and hand healing from the burn it suffered recently. —

Atreet for

Downing

- plctured on his arrival at No. 10,

Cabinet Meeting.-L'entral Press Photo.

Life

the

Of Adventure

For British Colonial Police

London, Jan. 10.

Many of Britain's 40 or more Colonial police forces are now going through a period of radical change, following the lessons learned in three emergencies Malaya, Kenya and British Guiana.

Över a total land area of 2,000,000 square miles, 70,000 policemen try to preserve order among 70,000,000 peoples.

The question whether some of | This police force, which has the police forces, all of which six Europeans

the top Calties, Mparate

at positions, satisfied one of the adequate to meet the needs of initial requirements of being

ere

a changing world, is now being, fairly representative of all the carefully studied.

roces in the colony-Indian, African, European, and Chinese, In many places, national or racini feelings are belog inflan- The police force in Singapore. ed for subversive reasons. The as in Malaya, does not reflect Communist

"Imperial the meial content of the popula- colonialism" is believed Ly be tion. Singapore is 90 per cent part of the Soviet directive for A Chinese city. The police force

Unrest, due world revolution.

la 80 per cent Maloy.

war on

The Chinese resent this very

The wheels of . Commerca

are coming to mi haltı

Trieste Is Facing Economic Ruin

Trieste, Jan. 10.

The political uncertainty which hangs like a pall over this city Today is threaten- Ing the once-prosperous port

with economic ruin.

of

Gradual closing clown Allied military installations and the evacuation of

TRADE annel 'ONEMERCE SECTION

amet

JAPAN'S PLAN FOR NEW "YEN AREA"

A Desperate Search For

盲 all the

families of British and Ameri-

can Occupation troops has al-

ready disastrous consequences

for the small tradesinen of the town.

For eight years, these shop- keepers and artisans have lived mainly on supplying food to the

families of the troops and goods and services to the military authorities.

Nearly 4,000 Military Govern- already inent employees have

been dismissed and many of them were among the hungry mobs who recently demonstrated in the city and raided muridp-

restaurants.

a

The huge port, centre of the city's economic being, is gradu- ally closing down as nervous shippers use alternative moons to get their goods in and out of the Central European hinter- landł.

has been

New Markets

(From Our Own Correspondent)

London, Jan. 10.

There can be no doubt that delay in concluding the new Anglo-Japanese Payments' Agreement is due in large measure to the British Government's unwillingness to give way to Japanese pressure for the easing of colonial restrictions.

These restrictions can no longer be justified -as they were when Japan had a large surplus in its trade with the sterling area-on balance of pay- ments grounds.

But their retention has become a matter of vital interest for a number of British exporting industries.

Co-

The concern that these in- old "Greater East Aglon dustries feel whenever there is a prosperity Sphere" but without suggestion

that

restrictions China and without the threat of against Japanese Imports into armed force, the colonies may

abolished

move would be

For some time past, the great reflects their fear that such a Lloyd Triestino Line

the signal for the revivni of Japan's pre-war running most of its ships from Genoa, over on Italy's Mediter-

trade practices. ranean coust, rather than from here on the Adriatic.

Bure

In order to replace Chinese sources that are now lost to It, Japan has extended its search for row materials to other parts of Asia,

For exompic, Jupanese mining £xperts are now assuting in the development of iron ore resources Goa, Siam, Formosa, the

This expalins why the pres-

the on

Government to Austrian Importers and

ex-maintain colonial import restric- porters, the main customers of tions comes from sections of the Trieste port,

British have already

industry that have in begun to show signs of a lack

managed to increase their of confidence in Trieste's future. of them fear that if takes over

control

may dis-

Italuny

"free pert" facilities

uppenr

und bureaucratic strictions increase, They fear that Morshall Tito

to the colonies independ exports Philippines and Indo-China.

the

134

niso may

make good his threat to march in if Italy takes over the Allied

Zone "A",

Stiff Competition The North German ports like Hamburg and Bremen, tradi- tional rivals for Austrian traffic, have been quick to exploit the present situation. They have al- ready tried to lore

way

the

Austrian trade with preferential

port and freight rates.

Now, they are telling the al- ready nervous Austrians that their goods may be in jeopardy in the Trieste port.

officials here Port

confess frankly that there are already indications that some of the Austrian traffic is being divert ed through Germany and ley fear even greater loss of work In the coming

ing months. The Yugoslays, rupidly

ex-

"Of"

a

NOT CONFINED such protective devices as well those whose from

exports But the quest for sources of have been maintained at a high new Investment necessary level only because restrictions

condition for

new creating ure in force.

markets for Japanese exports- An example of this is given in

is not confined to any particular the Cotton

feld of activity. The Investment textile industry drive covers British exports of collon textiles

a wide area and finds openings in to Malaya in the Arst eight months of 1953 rosc

of business and In- by six number

dustrial spheres. million yards while those from

Malayan

Rijeka Market

to economic causes, may appear almost anywhere, and a reliable Intelligence system, with a poller rise panding the port or

in Zone

of the force strong enough to deal with most of this city," they may. "Why

Trieste territory are also pro- any throut in He early stages, is cannol

police force?"

the Triestiul essential to counter it,

with stiff

The emergencies in Malaya. Kenya and British Gulana were cach of a different nature,

in Malaya,

A well-organised

throw out the

We have

Chinese

port

is soon

000 tonily of nearly 3,000,- 30

and well-armed resistance force, Malay uniform. Many of the that of Trieste. mostly Chinese, who had helped better educated

lo

are

Every effort is being made to The Yugoslav encourage Chinese recruits to expected to have an annual ex- come forward, but they do not

port the

wearing a Idea of like

only a little less than

The Austrians

already State using for all the

to- bacco monopoly traffle because of sinshed port dues and free dom from irksome formalities.

Marshall Aid deliveries to Austria, which boosted business for for Trieste

port, are now ended,

goods

for

In W.DH

growing

9,184 Bills Dishonoured In Ten Days

Tokyo, Jan. 11. The Tokyo clearing house reported that doring the first ten days of January it had received D.184 44- honeared bills — a dally average of 1,521.

The daily average in the first ten days

of January Increased by about 150 from the corresponding period December.

Ofeinis of the clearing house, however, noted that the situation

was much than better

anticipated. They said better financial help extended by the Gay- enter- ernment to small

may prises in December have proved to be a shot in the arm-Reuter,

HONGKONG

SHARE MARKET

LONDON STOCK EXCHANGE:

Industrials Reach

Peak Level Of November, 1951

(From Our Own Correspondent)

London, Jan. 10.

Despite uncertainties about future labour costs the electricians are the latest group of workers to threaten strike action in support of their wage claim-industrial ordinary shares last week broke through their 1953 peak level and are now higher than at any time since November 1951. Continued advance of industrial shares seems to owe a little to each of a number of different factors.

Gold reserves remain buoy Koffies closed rather dull but jant, purchase 11x culs have both gains and losses Were bean announced in advance of visible on the week. Coppers The budget and across the At-wore Arm.-United Press. lantic, President Eisenhower

rose

Gold developing resumed their advance early in the week bub eased later on profi-taking.

has expressed determination of In the commodity markets, "deal { tons were again in demand and hla

to administration

with stock short, firmly with any promptly and

prices undua tendency towards n re-sharply. cess in the United States.

rise But the

of industrial is due find and foremost to a general upward trend of divid- all ends. Last week it was an oil company. which produced the brightest dividend news. The

on- of Lebites board nounced that the dividend for 1959 would be doubled and this would be coupled with a 100 per cent scrip isque, half in ordinary and half debenture stock.

In

NEW YORK

STOCK

MARKET

On this news, the £1 shares of the company (which oper- Ates in Peru) rose to 53/14--

New York, Jan. 10. a rise of 14/4% in two days.

Stocks advanced in the first other dividend

week of 1954, but The week's

closed later newa was received with mixed well below their best levels.

On Tuesday, the industrials feelings. After the previous

since March week's announcement of an in- were at their best

Martin's 27 and the rolls and utilities, the creased dividend by Bank there was a general ex- best since mid-December," pectation in the market that

The market gained on Monday other banks would follow suit

and made further substantial and bank shares rose accord- ingly. But these hopes were not gains on Tuesday after President Elsenhower in a national broad- fully realised.

cast had vowed to usz

"every proper means" to sustain básic prosperity,

(From Our Correspondent)

BANK DIVIDENDS UP

Business done on the Stock

Provincial District, National Exchange this morning amounted and Lloyds banks have all in- to $1,183,399. Noon quotations creased their dividends by be- and the morning's transactions: tween one and two per cent. SHARES BUYERS SELLERS SALES District "A" shares rose by nine pence to 81/3, National Provin- £1 shares, sixpence to and Lloyds "A" shares 2/0 to 02/-.

K. Whort Dock Provident

(Old) Provident (New)

which

on tha

As the time approached for the President's address

delivered ot State of Union

the mid-day, Wednesday, market began to sag. Selling in- creased after the message ard final prices for the week were down considerably from the Tuesday levels.

At the close of the week, "the

average stood

from the last

at

Banks

disappointed the market by not raising their dividends were Westminster and industrint Midland. Fully paid shares of 281.50, up 0.81 these concerns fell by 170, to day of 1953; rails 05.14 up 1.11 57/- and 1/- to 777- respec- and utilities 02:53 up 0.61. tively.

Transactions averaged only 1,418,000 shares dolly which contrasted with a daily average for the four days of last week of 2,082,500 shares.

༢

BANKS

Ik Dink

.. 1000 102D

20 for 1015 clal 20 # 1619 80/~

INSURANCES

Lombard.... 451; Union

Underwriters

57

7:4

Waterboat .10.40 Asla Nov. DOCKS, ETC.

J.13

1215

20.80

13.40

1

Shal Dock Wheelock LAND, ETO.

HK Hotel.. HK Land Shai Land Humphrey. Realty

15,00 1.30

0.03

..7755

2,900-0

1,000 ft

2000 7734 000 or 70 1.40

1,000 19.10

5000 4 2. 50000 @ 2

2000 62.0215 13000 @ 2.65

2,000 28.10 5000 à 14.70 4200 or 14.80

cent preference shares at 21/- each.

The latter stock

The week also brought news of a new issue of stock in con-

In-

Japan fell by 30 million yards. Thus Japan has already sunk But this had nothing to do with a considerable capital in such import restrictions. ventures as salt-mining in Slam, Only about a half of the ship-salvaging in Indonesia, the currency allocated for imports of Philippines and Australian Now- Japanese

fact Guinea, banking in Indonesia utilised in the first six months and fishing in Burmo. of the year-proof that Malayan Importers could have bought The possibilities at financing more from Jupan it they'd coastal shipping m Indonesh

bank are being investigated: wished.

branches have bem opened in Yet China and the Far East Karachi and Hongkong; and section of the Manchester credit of £6 million has been Chamber of Commerce last week, extended to Pakistan for the coupled its report on exports to purchase of Japanese machinery. Malaya with the hope that the British Government "won't be In these and other

ways, slampeded into panle action in Japan is seeking to repair the fear of losing Japun

adamage done to its economy by sterilng

SHIPPING arca the closing of the China market.

But its efforts products,"

in this direction are impeded by its fallure to LITTLE CONSOLATION

settle the claims for reparations Coiton textile exporters to that have been put forward by will many of the countries in which other colonial markets

It seeks investment opportunites. undoubtedly support its warn- that any move to relax

WORLD BANK PLAN Import restrictions "requires most careful consideration of the

Meanwhile the Japanese possible effects on United King- Government has submitted dom trade with sterling area plan to the World Dank under Exporters to West which £23.8 million would be countres." Africa especially have much to loaned to Japan for investment by it in neighbouring countries. this market the almost

If this proposal is accepted. complete embargo on Japanese cotton and rayon imports has Japan will invest $5.7 million in

to have given Philippines,

Iron-mining in Hongkong, the and

India; been estimated

$14 Lancashire orders for about 120

mililon in Formosan coal in-

the million yards of cloth that, with

dustry: $800,000 in out it, might have been secured in the Philippines; $1.4 million copper mining by Japan.

in Malayan bauxite mining;

and $3.3 million in Improvement of Those who are hoping that;

production In the Philip-

Slam

Indo The withering process of the form of Jaunese come pines,

China, The great question In Malaya city's economy has been hastened petition will eventually be solved of the Kikuyu, one of the most at the moment is:

Indonesia and India. ` What kind of by large withdrawals of capital by the re-opening of Japan's)

move This

Elec. 101-10.70 advanced tribes in East Africa. police force can best win the

China will to establish a new "Yen area" British officials were taken by hearts and minds

by nervous Triestial industrial- former markets in of a multi-

Inish Japan's INDUSTRIALS surprise.

And little consolation in a survey in Asha will not diminish lats, many of whom have chosen

than the tho

Cement. 1934 19.70 1,500 @ 10 removal-or at

1,000 10.00 current yleld on recial community? The come

United Stonli of prospects for Sino-Japanese pressure for extended They were

this moment to take cought not

drastic least the dra relaxation-of

Metal Indus. 2.30 question could be naked

trade by "The Economist." "holkinya" in Switzerland.

5,000 stock now at a discount of 1/- restrictions on unawares, however, in British Kenya,

Importa

STORES, ETC. Guiana. The despatch of British

Small shopkeepers and trades-

Despite the recent conclusion Japancae goods into the colonies.

Dalry

27 1,000 67 26.00 ..... 20.00 and warships

the troops to

men, apart from losing

Wation of a £30 million trade agree-But if Japan's overseas invest-

MAR 23.30 2130 1000 23. will

10002. 'boar frult they British and American custom-

ment between an unofficial Dlot men

800. crs, have rapidly lost most

mission and the Peking Govern-lessen the risk of a self-defeating their local Italian customers.

WET developing when There is great reluctance ment, The Economist sees Hittio trade

appreciable ex-freedom of trade is eventually among the local people to buy hope for any

espaustan of Sino-Japanese trade restored in sterling markets. anything except the most

unicas Japan is drawn into the sential items at this moment. Communist orbit. Any purchase that is not urgent- ly needed is made to wall.

can also And better pald jobs in business.

In Malaya, there is a similar dimeuity in getting the Chinese to come forward,

From a police point of view, criminal, and

Japanese launched

o terrorist invader, campaign"

on the British ad- ministration when frustrated in their Communist aims. For nearly six years, an army and a huge police force have been both political deling with a situation which Malaya is probably Britain's and the American Occupation at prosent costs approximately most difficult territory to nd-Forces In Austria are importing £2,000,000 sterling a month.

minister. Seasoned police officers their materials through from other parts of the colonial own supply base at the west KENYA COSTING £373,000

world get the test of their Italian port of Leghorn. careers in Malaya.

In Kenya, an anti-white revoll, which is at present cost- ing £373,000 sterling a month, broke out among a large section

THE RIGHT KIND

in

Another big problem in the Colony was the first sign of an colonial police force is how to Cinergency in which the Prime attract the right kind of young Malater, Dr Cheddi Jagan, and officer.

his associavas, wire doposed

by

In the British Government in Lon-

which on charges,

don

-

most of the East and they Central African territories, there have died, of having tried to is only a small educated African set up a Communist state. population to draw upon. Each situation provides the Africans rise to the intermediate police with

problems in ranks, but no higher. carrying out their task of main have to be specially recruited in taining the peace and protecting Britain and elsewhere..

new

life and property.

the

Officers

their

Businessmen Leave

Д

their

ΟΙ

Jose.

In

A LION'S BILARE.

U.S. STEEL OUTPUT

UTILITIES

08.065.000 € 1.08 nection with the denationalisa

tion of the iron and steel dustry. The

The next company to be The decline late in the week handed back to private owner redected several things. In the ship is Lancashire Steel and the first place, traders felt that the

tion will be in the form of market had operat

about discounted an

Issue £4.6 million of ei or the main points of the Presi dinary shares at 22/- each, and dent's address.

£4.5 million of £1 5% per

Tram....... 28.10 140 Star Ferry

C. Light (0) 14,30 14.00

2000 * 1.1.82

In the

second place, there was

a chill administered the market when Chrystus, unexpectedly an-

is expected nounced big layoffs for Monday,

Thirdly, the

market

had

6500 1430 to have a good reception by the

in- 2000 14.00 general investing pubile but or entered the 285 level in the C Light (N) 11.00 1000 11.60 dinary shares will appeal main-dustrial overage. The 285 2000 11.00 ly to Institutions. Although the hurdle is said to be a high one Electric ....**

hence the market experts. 30 3034 1000 ke 301 yield on the basis of an ex- and

30pected eight per cent dividend were not surprised at the turn-

about in the inoin. Hist. 304 18 somewhat higher than that on 301 United Steel-the first company The main list showed nd- to be returned to private own-vances running to more than 2

ership--at issue price it is, In points. fact, slightly lower

Macao

Crawford 23.40

COTTONS

5340

Textile Corp.

000

900 4

303

GILTS FIRM

Danish Trade

apparently In Djakartą

The Lancashire Steel use Mission has interesting implications for the future. It has been designed to appeal to big a10 2000

16008.08 institutions but sooner or Ister 200010 they will hold all the steel they

Djakarta, Jan, 11. 5800.10 want. When that happens

the A Danish trade delegation 4000 £ 4.05

authorities will have to offer headed by Mr Tels Nielsen of MISCELLANEOUS

Yangice... 046.256.000 € 4.50

Ministry. The

denationalized steel stock at a the Danish Foreign 2,000 moro attractive price if they arrived here yesterday,

are to tempt the private inves- nine-man delegation is the fret

Danish trudomission Asian country since the war

Oil Prospecting. In Australia

tor.

to

threat of labour troubles enured prices to ease early in the week agreement which expired on but later, on the news of the October last will start today, matisfactory state of the gold On the ball of the ex- ever the market became prea agreement, Indonesia firm again.

exported tobacco, corn, ten and other products valued at me of the better known Dutch Guilder: 37.700.000 a

Lost ground imported milk, machinerie, Dunlops lost: shilling pence, coment pharmaceutical pro

Dutch" duliders. Woolworths 1 shilling pence duet Worth and Courtsuido: 101⁄21⁄2pence S 6,778,000E

In the glit-edged markat, the cussions to extend a trade

It points out that the present volume of this trade is hardly The same "wait-and-soe" cau- tion has spread throughout the more than one per cent of its elty's business life, and shop-pre-war'level. This is due to a number of reasons among which keepers in their turn have can-

the fact that

New York, Jan. 10. commodities In Britain at the moment the celled most of their orders for | 11⁄2 In Malaya, the difficulty is to standard of

The nation's steel industry officer material

formerly exported to. Japan aro make the police

new stocks. force as available is not very high. This

year with Municipal authorities In the now needed by China for its own begon the new prosentative of the 2,000,000

scheduled 82,000-tón production Chinese in the country as it is because young men of educa- elty, faced with the growing consumption.

Increase to 1,788,000 tons but unemployment 2,600,000 Malbys and of

tion, character and ambition are urgency of the

well bolów iis new 2,384,540-ton

B:lbine, Jan. 10; 600,000 Indians and Pakistanis rather than to the police for Military Government to speed,

turning to the big overseas firms problem, have asked the Allied

weekly capacity, the American The Queensland Government In Kenya, the

Moreover a lion's share of Trou of Sicel Institute reported, has granted authority, to Trome police force,

good adventure,

pay and up its public works programme Japan's pre-war exports to today. mortly

pecruited

23 locally

Broken Hill, Ply Lid, to prés- for so that jobs can be found else in the British permanency. everywhere

When the Kenya Police Force many of the workless. But belauktio and to the lensed Capacity of the industry as of mille area covering the western industrialists

China went to the puppet state

pect for oil in a 101,000 square colonies except Bermuda,

recently advertised for make the best use it can of the recently

400 Allled officials, getting ready to territory of Kwantung demand January 1, was cated at a new, half of Australia's Cape York material

Inspectors, move alt, are reluctant to for these arose out of Japanese record 14339,110 tons annually, peninsula and most of the Gulf available. temporary assistant Seventy five per cent of them contract, it was

offered

only

a two-year spend any more money than ure illiterate and only four per als

tokoop. automatically absolutely horstery

"Now that "ToOPRE HAS, cent are able to read and write young men out of a job.

Unsettled the oily, narrowing its appeal to 0

Alleking over."

aro confident investments in North English.

Most Triestinilorn of tha.. In

of domanditas [spito ... of this, there were that the political 12,000 applications. Their city's future ownership, will be The Economie, the Communies prising thing is the number of solved without a bellek, In British Guiana, the problem nest-clas" "young.

men with the harsh words Lawak was whether any of the police, excellent qualification who Yurova and allung -whom Dr Jarets" was 'accused of #prepared to on for part jban kisz ścina citơ, mabyekt, that one two men, with

bhanged; their loyalty,

Africam

bas to

"POLICEMEN'S LOYALTY

Investments in this rech With 73 172546470-tbits of: Carpentaris.

to re-establish the

The Company is owned by the

Liis Vacuum

* Nevertheless, unike na goneral trend was moderately highor

"Among the "elis," Royal): sid Shell both fall potritment with the dividends Loyal Di