1954-02-12 — Page 9

THE CHINA MAIL, FRIDAY, FEBRUARY 12, 1954.

·Page 9.

¿MERCE SECTION

At Eastham, Cheshire--where the Manchester Ship Casal meets the Mersey-the biggest oil dock in Britain was opened on January 10, 1954. Bulit at a cost of about £5,000,000, it is capable accommodating four large modern lankers simultaneously, and is connected to The Stanlow Refinery area by a pipeline system covering 7 miles. It is known ka

Queen the Elizabeth I Dock. To signalise the opening of the dock. s.t.s. "Vellelta” (28,000 d.w.t.), flag- ship of the Shell Tanker Fleet, broke a ribbon as she passed in from the entrance lock. The picture shown “Veliella” passing into the Queen Elizabeth II Dock at the opening ceremony; she was carrying 20.000 tons of crude oli from Kuwali, on the Persian Gulf.—(A Shell photograph).

Some Were Re-arrested In Six Hours

Italy's

Christmas To 20,000

Amnesty

Prisoners Was A Big Flop

Rome, Feb. 11,

Italy's Christmas gift of an amnesty to some 20,000 prisoners has presented the authorities with a grave social problem. They are now wondering what to do about the confidence thousands of thieves, housebreakers, burglars. men, drunks, drug addicts and other petty criminals sud- denly thrown out of prison, with not one chance in a thousand of finding a law abiding job and only the slimmest hope of becoming decent members of society.

pressing. When

As the days pass, the problem becomes more they left prison, most of the prisoners received sums of money from charitable societies.

jurists fear that

Now, this aid is fast vanishing, and Italian very shortly the large majority of the discharged prisoners will:

1. Turt to the only "job" sivil war which marked the last they can od: ond

months at World Wat Du italy.

2. Inevitably prison.

return

to

A nation which has a more or less permanent pool of some 2,000,000. unemployed, as well ne other millions of under employed men and women, has stace in !! economy for 20 000 mure jobless-and pretty well desperate-men.

This was

the amin why eminent jurists ciologists were opposed to the amnesty. They feared that the Christing present would be of all too short duration

and the damage to society

As a whole prove für more durable,

in 1048. Communist lender. found

clerical Job In his u few Such a general reconciliation native Catania (Skelly) meant releasing from prison days after leaving prison. both Fascists and Communist But ordinary prisoners found partisans. The only way to do themselves adrift.

AL Verona,

discharged this was by a general amnesty, from which just under hait the prisoner accepted the 5,000 lire nation's prison population bene-: (£2 17s) given to him by the fitted. (Those who did not Pontifical Assistance Commission the beneft included sex-criminals, j and promptly spent publishers

i

of pornographic money at the nearest wineshop. literature and slanderers of the reason

state and its institutions.)

and so-

The amnesty erased from the records the ertine and sentence

and of petty criminals

short- term political prisoners. The pardon stashed the sentences or jonger term convicta,

Cr's

been

Back In 6 Hours

He was back in prison x hours later on the charge វាន that which sent him to prison

before: belng Nome months drunk and disorderly.

Heaven

A young Homan "confidence The real aim of the amnesty

mun left the capital's Region and pardons Bill was to liber- The released political prison- Coell ("Queen of ate several hundred political

have quickly

re- prison and headed for his old prisoners who had been in pri- absorbed into the national life. haunt, h popular arcade in the sun, some still awaiting trial, For instance, since the end of the war. The Antonio

ante student, city centre, and his old job. Pallante, who was Two hours later, he was being Government intended to make sentenced to ten years eight greeted by the gatekeeper a gesture of "forgive and for- months for trying to assassin- the Regina Coeli prison. get the brother-against-brother ate Palmiro Togliatti, Italy's Some convicts had to be

forcibly discharged,

PENINSULAR

ab

Kicking and scratching, Milaneso was carried out prison. "Amnégiy someone else," he bellowed as the guards

one

of

or

& ORIENTAL threw him out.

Others stole, picked a handy pocket broke the law Feme other way in order to be put into prison again "at least for the rest of winter-as one Turin inil-bird implored the magistrate.

QUIS NOS SEPARABI

STEAM NAVIGATION COMPANY

R.M.S. "CANTON"

SAILS:

NOTICE TO PASSENGERS

BAGGAGE:

Monday the 15th February, at 12:00 noon for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden' and Port Said.

Passengers are requested to send ALL baggage to the Hongkong & Kowloon Wharf Co.'s Godown at No. 2 GATE, CANTON ROAD ENTRANCE, by NOON on Sunday, 14th February, 1954.

SPECIAL NOTE: With the exception of hand packages

carried by passengers themselves, ALL BAGGAGE must pass through the Wharf Co.'s Godown for loading on board by ship's slings only... BAGGAGE COOLIES WILL NOT BE PERMITTED TO ENTER THE WHARF.

'"|

MORE W GERMAN TRADE WITH COMMUNIST BLOC

Fall In Yields

Of UK Gilt-Edgeds

Forecast

London, Feb. 11.

A fall of one-quarter per

with

Exports Channelled Through

1 15" da

Hongkong

ads: 07

Bonn, Feb. 11.

West German trade with the Iron Curtain" countries which fell cent in yields of British sharply during 1952, began to make,a steady recovery in 1953 and is gilt-edged stocks a still improving, according to economic officials here. corresponding rise in their

A new agreement with the Soviet Union provides for grain im- prices, is forecast na a ren- sonable prospect for 1954 in ports from there to the value of between $15,000,000 and $20,000,000 a circular issued by a leading during 1954. The Federation of German Industry, Cologne, said this firm of stockbrokers here.

was the first direct trade agreement between the two countries since the lend of world war two. outlook The investment

It was an unofficial deal and no further details seen to be determined by four were available. large political

West German trade with the East, which used to be one of Germany's most trends:

Important markets, slumped after the war. Now as expanding industry is coming up 1. A downward tendency in against Western competition, West Germany is looking to traditional markets in the business activity, set off by

East for expansion, further gradual slowing in the tempo of the American economy.

end

economie

to counter

2. Political movea this tendency in order to avoid unemployment; monetary reflu- flon in the United States and the decision of the U.S. Gov-

to ernment

sell agricultural surpluses for foreign currency rather than curtail production are cited as examples.

HONGKONG

SHARE MARKET

are even more

com-

second

largest

the

Catching Fish The Easy Way

St Nazaire, Feb. 11. Thousands of Tiet Auddenly swarmed into a drydock basin #t BL Nazalro today, as it was about to be drained, and blocked operations for Beveral hours.

When the basin Win ninally pumped

dry, alx truska were nceded to

cart away the catch of 20 tous of fish.-China Mail Special.

NEW YORK

STOCK MARKET

New York, Feb. 11.

The stock market spot- light swung today from RKO Pictures to New York Central as a fight for con- trol of the Central System

Central stock ellmbed nearly 2 points West

at one time in most of

According to Industry Federa-1 categories "bécoine/ serious tion cfctals, Germany before petitors on world markets. the war sent 18 per cent of all Polish steel, production rose her exports to East Europe, West from

1,400,000 tons in 1830 to Germany's exports there in 19523,200,000 Lons in 1952 and prob- were 1.8 per cent and in 1963, obly 4,200.000 Jong lost year. though no float Agures are yel These two countries together got under way, uvailable, perhaps 2.5 per cent.

as nitteh steel produced almost us France, the But West German industrialists steel producer of

Interested in European Schunian plan coal active trading on the heela 3. Improved co-operation be-

trading with East Germany, and steel pool. It is estimated last night's refusm by the tween debtor and creditor

Here they complain they meet that more than

4,000,000,000 Rond's directors to give handling countries to maintain employ- (From Our Correspondent)

the difficulties of slow and

marks bas been invested in the bourd to Robert R. Young ment: the Commonwealth

cumbersome bureaucratic proce- recent years in these countries and his associate, and Young's Finance Ministers' meeting

Business done on the Stock dure, Inte deliveries and poor In steel production.

subsequent promise of a proxy Australia and recent discussions Exchange this morning amount-quality which they blame on between members of the Euro- ed to $600.688. Noon quotations | the Eost German "planned As seen from here, there is

Payments Union peon

und on cur-

the morning's

It was the day's feature, but a serious attempt to create one "Enstern rency

shared the spotlight Rub" by combining

with

SHARES BUYERS AËLLERS BALES (and the East German authorities slovakia, Poland and the former $81's at its high as time Ap-

industrialists the heavy industries of Czecho- several other Issues,

Chrysler ran up 1 points to 1951 German territories of Silesia, pronched for directors to take

In

convertibility amples. Mild deflation Thought to be favourable sterling. and

convertible poured is now thought to be practical polties.

п

tions:-

transac-economy."

West

German

urc ex-

Is

to

BANKI

HK Bank

1000 35 50

1861

East Asia

185

BG0 870

4. Absence of any "boom psy- INSURANCES

recent years. chology* in

These factors, the circular states, would seem to make for greater confidence in money as A store of value, but are likely to bear adversely on dividends.

BANK RATE—3 P.C.

"It is still our opinion that the Bank Rute is quite likely

to be lowered to 3 per cent (at present 3 per cent) before any | question arises as to any move in the roverse direction

pre- paratory to convertibility sterling the firm states.

of

Union Underwritem SHIPPING

Waterboat Asta Nov,

DOCKS, ETC.

K. Wharf

7.10 7.20 1541 m

. 19,70 20,30

1.15

26 100 Provident (0) 1315 13.80 1500

Wheelock

LAND, ETC.

HI Hotel

8.10 0.20

concluded in September,

working agreement for trad- into

Into one 1080 Lng between the two halves of Czech

Germany, Under this agree developed ment, lists of goods have been the agreed оп cach year for unidaronged into exchange during the following in 1945. year.

2.10

battle.

11

Much of the

dividend action. It backed down plant Wis especially

to $80% at the obese. Directors by Germuns during

after the close reported lower wat and fell relatively earnings for 1953 but maintain-

Russian hands

ed the usual $1.50 dividend.

New York Central also closed The last such agreement, signed on December 18, provided This industrial

14 below its high at $23, up 1%, 781 for an exchange of 737,500,000 own coal and coke supplies and joining the general market in 13.60 marks worth of goods euch way lacks only adequato Iron ore casing off near the close.

in 1954.

which has to be imported ro far SEVERAL FACTORS largely from Sweden, North The late slide was attributed Africa and southeastern Europe.

€70 1000 8 HK Land 76 77 10077

1.30 S'hai Land. Humphreys 19.40 10.70 Realty 220 1.25 16000 or 2.22% UTILITIES

20.20 2015

Tram:

For the purpose of East-West German trade the East German authorities Insist on parity_be- tween the East and West Ger- On the free market

mon marks.

C. Light (0) 10 10.70 2000 15.30 in Berlin, the East mark varies C Light (N) 12.60 12.00 1000 12.70 between, four and Ove to the Fleene

3145 394 3700 32

300 A 8134 West mark. One pound sterling 29.90 250 og 20.80; is about 12 West marks.

THROUGH BONGKONG

Telephorte INDUSTRIALS.

In these circumstances, un- dated Gill-edged stocks which Cement ...20.70 21 2200 20.00 either stand well below par of

callable are not

Вго recom mended for the long-term 1 vestor.

STORES, ETC.

Dairy

Watson XD

27.80

18

2000 6 27.00

X Ria 1. Crawford 20 COTTONS

Textile Corp. 735

Medium dated issues have recently improved in price, but are also recommended in view of their prospects of apprecia tion as the redemption date nears. Long-term redeemable MISCELLANEOUS stocks, however, relatively unattractive

are

014

thought the

Yonglaze Yaumati

yields are not 'as high as “um- dated," and redemption dates

The agreement for 1954 in. cluded about 300,000,000 marks worth of goods which had been on for exchange and 1500 agreed

which East Germany had failed 220to deliver during. 1953.

In the main East German de 2.75

aro brown Ilveries 0.49 briquettes, sugar, diesel fuel,

chemicals and tarm products.

Rts 2.33.

-250

€14 5000 6

140 142

will not affect them for a long New York Cotton

time to come.-Reuter,

Japanese Exports

In January

Market

Now Yark, Feb. 11. Cotton prices fluctuated with-

West

formed an eastern

area has its

West German officials say that Czech steel manufacturers are already competing strongly on world markets, especially with steel plates and tubes.-Reuter.

to Several

factors renewed we weakness in tobacco stocks. profit-taking in some recent strong spots and evening-up by traders who plan to observe the Lincoln's birthday holiday to- morrow although the Exchange will remain open for the Brst time since the day was made in 1883.

Singapore Rubber holiday by several states back

Market

Singapore, Feb. 11. There was further factory buy ing today and political news caused sellers to be reserved, it

coal, was reported.

The market advanced mode:- ately but closed just off the best, industrials Prices of futures closed tedy as

follows! trade com-

of 1,187 Issues traded today. 480 closed lower, 410

higher. 302 unchanged,

Volume for the day amount ed to 1,880,000 shares, compared with 1,700,000 yesterday.

volume was $4,040,000.

The NY Stock Exchange ban

The American Stock Ex- change volume, was 470,000 shares,

Dow Jones closing averages

were:

30 Industriais

202.46

Mar. 05-85 Apr.

20 rall

103,21

10 ties

631-554

113,90

8411-543

40 bonds

00.83 Comni falure price mdex. 171.70

United Press.

German mittee on the basis of a parlin-No. 1 rubber per 1b. Fab. 5514-552 mentary resolution in May, 1952. No. 2 rubber per lb. Fel. The committee is concerned only No. 3 with trade

with

countries No. 4 beyond East Germany.

in n norrow range in qult The committee is an advisory Lowest For 3 Years dealings today but managed to body, both for industry and for

close the West German Government, It has not executive functions

occasion ap authorities

Exports from Japan during March delivery, plus domestic | proach may on

of Bank Certifications of Ex-

by the Japanese Ministry of

pay

the

It

International Trade and Indus-cumulative recovery of almost a worth of grein.

try.

WBS

Spot rubber unbated Blanket crepe No. 1 crepe ....

021-029 $452-21/ 4742-470 04-60 -United Press.

NEW YORK MARKET

New York, Feb. 11. Rubber futures today closed 10

M.P. To Ask What Is Britain's Future - Jute · Policy-

336,190,000 and $58,874,000, ro- 'ing in Western Europe, England thwhelming extent channelied Lincoln's birthday celebration and jute products; the abolition

tho

keep above the previous most of the time, Tokyo, Feb. 11.

Evening up operations in the January recorded the

into 20 points higher with sales of lowest

mill and exporter buying in old Eastern Europe and speak in 27 contracts. figures since January, 1901 at

the name of West German Evening- $81,445,000

London, Feb. 12 Es compared with crop months complemented

new dustry

able, foreign demand for the

up operations in the Me Derick Heathcoat-Amary. for $80,800,000 in January, 1061

arrange for an March delivery with leading Minister of State at the Board example, to and $136,085,000 in December crop months.

Jast The nearby March deliveries agreement

December, dealer interest Anding offering of Trade, will be asked in the last year, according to figures hovered around the 345 cents entitling Humania which owed limited as they moved to cover House of Commons next week, Higher to state the Government's policy port Declarations released today level, establishing a new high West Germah traders money to featured a quiet trade.

since late last July and

off by delivering $2,500,000 cables were another factor on on, the decontrol of the jute

the upside ther

Industry. $7.80 a bale from the December

The spot market ruled quiet,

He will be questioned by Mr lows.

West German Imports from with the.. let-down in factory Gerald Nabarro, a Conservative countries and other consumer buying in-member, who will ask whether "Iron Curtain" Exports to the

Leading spot interests said the the Dollar, Sterling and Open Account export demand for raw cotton are fairly well spread over the terest pointed by the fact that the Minister will make a stale-

the market will remain closed areas decreased to $24,081,000,"s" much

the Individual countries but statistics improved since $22,088,000 and $34,701,000, return of the year."

show that the exports are to an until Monday morning for the ent in regard to the future

trading arrangements for spectively,

Jute from $41,009.000 Cotton consumption is increas

Hongkong,

tomorrow. perhaps

Spot No. 1 Rse were indicated reversion of all trading

Jule

control and spectively, in

the December Yast and Japan, while, their eptton partly by way of circumventing

stocks are not high.

objections by West Germany's around 20 cents pound, in respect of these commodities year.

Trading Vohimes in the Ex-powerful allies against trade with nominal. Future closings:

**March

from

com public to private account." The main causes- of the change today were as follows: the East.

May.

Raw Jute has been controlled another: conviction decrease of exports in January Month "Volume. · Open Interest

July

sinco

the end of 1939. Calcutta 22,200 a longer sentence, were: (1) Decrease in exports March

Offligis here expect that the September they

United N

15,000

juto piece have embarked on an to Okinawa and the

came under 581 casieritudo pabelecent

...December, alarming series of crimes.

20.16b control in 1940 States, Exports to the United bober J

"Toy Da Amalden Avail) ollow March (1055)

Untied Prote. Rome,

Milan and other big State totalled $11 million in December *12,000

trade with the East to recover million May

77,200 Italian eltics have, since Christ- January against $20

some of the “ground which it LONDON MARKÉT 19,200 mas, reported a larger part of 1953. (2) Exports of Total

early Monthly average in the

when the first year of in the number of burglaries,

7.350,000 boles. "Battle Act" trading lowered

London, Feb. 11: Rome has had a whole series chemical fibre goods and cotton

---United Pries. i

Germany's export trading The rubber market was steady of shop-breakings. The burglars cloth to South Africa, Burma.

Enstern

countries from with No. 1 spot Has quoted at have shown extraordinary skill, Hongkong, Singapore

worth $101,000,000

1951; de 18941 punico per-Prices colonies fell by

71,000,000 worth in 1952. They Now Tapot, Russ and daring. In piercing holes other British info jewellery and für shops about 50 per cent." (3) "In the

rose from $47,200,000 for the rent it's through occupied

empty Open Account area exports of

period from January to Septem April/June master flate abova, or eveni through

textiles machinery and iron and

bor 1952 to $70,850,000, for the idy/Bealembe

Beisber/December walls giving on 10 steel declined notably Router. usually busy streets.

But the hardier criminals, un- expectedly free, have appar- ently organised themselves into dangerous gongs.

Benefitting by the experience of years in prison and the mis- takes which sent them there, and more wary because

know that will mean

or

Rehabilitation

they

Shop hold-ups in brood day- light carried out by obviously, well-organised gang have been

another feature of this new wave of crime,

Police have unhesitati

EMBARRATION: Passengers should embark between coupled the amnesty?/with:

crime wave, Bulr the??

9.80 and 11.00a.m. on Monday, 15th || phailip

February, 196401

only involve ambul

of discharged;"> Mall Specia

*

· New York Metal Futures

New Yor

Load

May

March

July

12,000

8,300

149,000

305.000 $40 400

18190042

-

CHICAGO grain FUTURES

•i

20.45

20.15 20.1ch 20.15b.

20,10b

services

Jute circles In Dundee, Scot- land, say that the jute control has provided protection for the industry for so long that any opposition to decontrol the in- dustry would not be very well ved indah farters It would

mean, considerable readients and would cer tainly take time to implement.. M19 (China (Mail(Sprolol2EJIM.

1716 1714

Closing Priood of January to Reptember: General moricets, "cit parİN VEDERE SEITUNG STERNEWS

-Chicago, Tel.: 11.1‹ Prices per bushel in conta

Whent, Nr. 2, std

8pos

March

May

July

last your 2

SHODDY GOODS,

March

April:

· 10-10 - 188

United Prem.

SZAM New York Cotton

traders, complain goods · are other

ast Exchange Rates

Febr

Prices of colioné futureM Bpot

are

(markel

Poland

25. dollar

Herling, Astel

Jam Hest

(per 100) Hingapore (B{es}#). have th some indo-China plastron (per