1954-02-18 — Page 9

THE CHINA MAIL, THURSDAY, FEBRUARY 18, 1954.

MERCE

SECTIO

Page

MOSCOW.

(VOROLOVIK

ALTARNI

ITAKUILE

ATONIC CENTERS

COMICT LABOR

Strategic Industries Are Booming

In Russia's 'Outback'

By Tom Whitney, Former Associated Press Correspondent In Moscow

New York.

The latest indications of Soviet population shifts reveal that strategic industry areas in the USSR-including probable atomic weapons centres are booming.

Russian affairs specialists in this country are studying the implica- tions of the reallocation of Soviet electoral districts based on population changes which was announced in the Soviet paper Pravda a few days ago. They found some startling results.

The most sensational development turned up by comparing election districts for 1950 with those for this year is the news that the population in Angara River districts just east of Lake Baikal has taken a tremendous leap upward. It is in this area that the Soviets are rumoured to be constructing a tremendous hydro-electric power and atomic energy development,

They're Trying To Make England Flood-Proof

London, Feb. 17.

Britain has reached the half-way mark in her campaign to repair a 1,000-mile stretch of East Coast sea defences, which were breached at 1,200 points by the raging floods of early last year.

Months of intense reconstruction work have so far cost the British Government £20 million sterling. The breaches have been blocked. Thousands of workmen have built up and strengthened sea walls protecting densely populated areas.

Though

Two new clectoral districls have been formed in this area which means thore are at least 000,000 more people there now than four years ago.

This is a

very large increase for such an undeveloped region and amounts to an increase of 50 per cent in less than half a decade,

This lenda weight to the statements made by repatriated Japanese

who war prisoners worked in this áron and other Russians indications that the are hard at work harnessing for use in atomic energy work the the cheap and vast energy of Angara River as it nows from Lake Baikal over swift rapids

confluence Its

the with

Another

to

very

large

four years

COTTON SPINNERS CHAIRMAN SAYS 450 ANI! Munti tedganda A „elfí

JAPAN MUST COMPETE WITH UK

TRADE

CLOTH Exports This Year May Reach

1,000 Million Yards

Nagoya, Feb. 17.

The Chairman of the Japan Cotton Spinners' Association Mr Kyjiro Abe, estimates that Japan's cotton cloth export this year will equal last year's figure of 910,000,000 yards, or at the most attain 1,000 million yards.

་

He gave this view when he arrived in Nagoya yesterday to explain the capital increase carried out by the Toyo Spinning Company of which he is President. He said that in line with exports achieved last year, the J.C.S.A. has asked the Ministry of International Trade and Industry` to guarantee 200,000 bales of cotton monthly for cotton cloth production.

Although the Anglo-Japanese tratto and paymentä àgreement now permits Japan to export cotton cloth up to a guro of £209,000,000, Japan, Mr Aut said, already has exported 2.11b million worth of cotton cloth to the United Kingdom.

This meant that Japan would have to negotiate separately with British autonomous posses- slons to clear the remaining amount, Mr Abe said, adding, however, that this would not be easy as Japanese goods would have to compete with high quality British products.

As to exporte to Indonesia, exported Mr Abe said Japan 300 million yards of cotton

cloth to that country during last Fedt, to whip. alhounted to excess export.

Ho Telt some steps should be taken to curtail such exports to Indoncais as the latter may consider Such excess export as falling under reparations and they

may not be settled. Mr Abe said that internation- al demand for cotton cloth had now reached the consumption unit, and there is the need for spliners voluntarily to Kimit the increase of their spindles.

believed that Japanese cotton cloth makers from now on should concentrate on manu- facturng high grade cloth which could compete with British goods. China Mait Special.

He

New Capital

Capital From USA

Washington, Feb. 17,

A new United States pro gramme to simulate the flow of dollar capital to Japanese industries will be set up by the ent of this month, Americari officials reported today.

It is the Investment guarantee United States programme for businessmen, banks and vestment corporations who plan to invest or extend their prosent holdings in Japon,

States in 1961 to protect Amerl- con investors against loss of capital through hatolnalisation of industry and against certain other posalble hazards In Western European countries.

The officials sale the agree- 'ment for Japan would insure the United Stater investors against:

1. Risk of nationalization er expropriation of an in- dustry by the JapaneGC Government,

from any change in Japanese in- vestment laws which might affect the rate at which Americans are allowed to withdraw unpital or profits in dollars to the United Slates.

Yenesei

Soviet population Increase is shown in the

Agreement to begin the pro-2 Loss resulting Donbass Dnepr industrial complex In the Ukraine where gramme will be formalised by steel

between electric the programme will sea wall was raibed three feet power,

an exchange of notes coal, chemicals, not be complete until inter thi above the 1953 spring tide level, equipment

the United States and Japonese, Į machinery and war

Governments in Tokyo in Since that first emergency was great

are produced ih overcome,

quantities. Apparently week or ten days, according to ihe reconstruction there are now 1,500,000 work has

amelals in Washington, more gone ahead smoothly

people continuously.

there than and

Today,

Rago. year

terror-filled

Two Soviet navy March but night, the defences at all main naval construction districts

bases and here report that points are stronger

on than they the Black Sea ་་ last of

are year's ever were,

shown to have risen in population by repeated are

over,000,000 in the last four years. are Nikolaevsk And

metal-working, metal- and 5,000,000 lurgical and coal mining centres into the gaps.

In the Urals have fitcreased in

after that

your, engineering experts try Couldent that defences can now withstand another onslaught from the North Sen.

High Spring tides are forecast

for February

and

weathermen

the chances

disaster being

Aver

were unumihi,

During

the

operation 1,000 mechanical excavators and For the foods, which gushed bulldozers have been

the East Coast. Bug move more than 10,000,000 cubic

Used to Kherson, more than 300 people

on the yards of earth

stone blocks A

From an

remote.

night of January 31-February

year

Lut

The guarantee was started by

programme

tha

United

certain

The oficial

sald technical understandings had to be worked out with the Japan-

Singapore Rubber no obstacle appeared to be

Market

howling gale inshed the North view, the damage pot of population by around a millon is still for since 1950. The Urats, during Bea into fury, hurling frothing from repaired, however, for the the war became the principales orders

nearly waves

000 feet long salt water ruined thousands of arsenal of the Soviet army. against the sea defences at acres of fertile tand. time when the spring tides were

at their maximum.

Singapore, Feb. 17. The rubber market was quiet. There were some small over

for lower grūdės, Future closings were: No. 1 rubber per in

March Apri May

March

When the foods receded sell | analysis showed concentrations

Other Places

0428-5478 043-2532 55-1512

Here are some other places No rubber per "Ib."

Together, tides and gales did of 50 to 60 tons of salt per acre

what was belleved to be Im-in some areas, and it may tale in Russia where population has possible, pounding the concrete up to 15 years walls of the sea coast and dykes Booded until they crumbled.

to get all the risen rapidly! Land back to normal,

TOMSK in control Siberia though some districts will be which is a emire In one night, some

t éclentine 160,000 able to grow barley this year, research. acres were covered by the sea. A number of fatmers planted

KAZAN on the Volga River 24,000 houses were damaged, 200| wheat last year and reported where the Russians moved their major

industrial plants were

reasonable 14 major

atomic imundated,

research Iminediately- gas andi The over-salted soil is now after electricity installations and eleven main roads made lam-tons of calcium sulphate.

grippled being dressed with thousands of have the tenor where they aircraft factories including The at least one producing heavy passable.

Government spent Over 1,000 head of cattle, 9,000 sterling last year on calcium

380,000 ombers.

bombers,

сгоря,

No. 1 rubber per ib.

March

rubber per lb.

5434-5415

53%-33$% 02-0234 Spot rubber unbaled 41-681%

United Press. NEW YORK MARKET

March

New York, Feb. 17. Rubber futures today closed 5 10 25 points lower with sales of 18 contracts..

Wall Street investment, buy- ing developed in a small way in

sheep, 2,500 plus and 38,500 head {miphate to cover 50,000 acres | ₪2 FORKUTA beyond the Arctid i the far oir March contract).

of poultry were killed.

Fill the Breaches.

Thirty

of all at the rate of about two corner and a half tons per acre.

Alarm System.

in the extreme northeast of European Russia where with convict labour the Ruedans have been developing thousand rescue

To help farmers rough a

coal mining wnd -

[-olf; nelda, Workers, including 18,000 troops incult-nancial period, legisla in northern Siberia rich in THE YAKUTSE", REPUBLIC went in to save people trapped tion has been passed enabling minerals including gold. in their homes, and begin,

the Ministry of Agriculture and THE KOLYMA RIVER back-breaking battle to fill the Fisheries to make grants to the which also has large depbails of breaches. Within

houts, repair a low werk was under way, threatened by more high tides. ; But the main danger “Was over, and tile work / of

El Bait

whose

by

payments

Jand has been goid and minerals and has been ‚à centre of convict labour -ünə have been made, Affairs (the

of Internal from £80 sterling an

THE YENEALL LIVER - valley

patching upi the varying

Locally, prices softened with London in the afternoon, +al+ though shipment offerings were light and held above a work- able basla, Future closing#

March

19.80 MAY

19.40h 47:18.700

104756 19.80 10,866 United Press. - LONDON MARKET 299!

London. Fab. 17,

July

Sept.

Dec. March

The rubber market: was bare. ly steady with, No. 1. Res spot

Prices:

Betthaunt house terms IT

Antil

coastline was able to condiale chops to 21 sterling an acre for mining centre in the far north

acre for expensive horticultural including Norile, lekol quoted 104; pinco pyti. It kho first six weeks, work partially damaged, gruss.

"and"0) Tersentasie, whobi largo costing £6 million sterling w "Last year, about £1,300,000 divaopment of canemknown cátried out. Fiftein million was paid out in this wayat An- character are being pushwashe sandbags, tens of thousands of other schime, which will

and sterly kept about the same amount, is being

coal mining 'area NOBE pulng were used to build on the rawn up, for this year,

Moul". rnining

Britain hai

61 Mone

рабыт.

east Buffolk

Norfolk and Littootrahire,KW) 401

'anni durior, which had pelletics ly provided a natural défdiri

a

Melbourne

To Get "Tim”

London, Feb. 1

Machinery of * Tele- phonic speaking- clook. similar to London a famous

·Tim": WITI -- HSK VE Yor Austinliath Yebrakty 22 on the milden vaynes of the new F© 0. Iner Arcadia

The dock li tudined for Melbout where people waiting" the correct time will merely tekphone a certain tombola-kind "TEN" will autoenailoniky ugledi 31. -China MaN ·SPOCIAL.

HONGKONG SHARE MARKET

(By Our Correspondent), Business done on the Stock Exchange, today amounted tu $707,038.26. Noon quotations and the mornings's, dealings: SRARES BUYERS SELLERS BALES DANKS

IK Bank xb 1885) 120 1800 East Aum.. INSURANCES

Unro

100

10085714 170 ·· Underwriters 4.00 7 DOCKS. ETC.

K. Whert... 701 7725

21.40

Dock

Provident 10111.40 135 Sthal Dock Wheelock

8.10

LAND, ETC. HK Hot!

04, 8.00

End Of Sellers Market

In British Shipbuilding Industry

The shipbuilding figures for 1953 might be interpreted at first sight as ominous, the London Financial Times said in a recent editorial.

For example: completions in the United Kingdom during 1958 fell, both absolutely, and as a proportion of the world total.

While foreign competition in-1 The main object tensified. new orders fell steeply: dustry must, therefore, be to Of the in- in 1933 new orders placed in work to the position the United Kingdom shipyards can again

where it totalled

quote nam delivery just over m, gross dates and arm prices, tons, compared with 12m. gross it would be foolish not to tons in 1052 and no less than recognise that the main obstacle. 4.lm. gross tons in 1951.

here at the monient is the wage its unreasonableness lies. dispute; this is precisely wherein ed am, gross tons as truch as in the whole

But on the of the previous the dispute

assumption eight years and some orders In the next month or two in

is settled for ship repairs were placed on a way that does not positively the Continent rather than in cripple the Britain.

Industry-surely a reasonable supposition then there is at least one factor which favour the industry.

Meanwhile cancellations reach

What is worse, not only were should more cancellations under negotin-

that with-

tion at the end of the year, but Se

Since the war very

very large sums the Industry was involved in have been spent in modernising wage dispute which, though the shipyards But shortage of the subject of a court of inquiry, steel, especially in the last two might still result in a stoppage.ears, has kept the rate of pre- duction some 3m, tons below BUYERS' MARKET

What would theoretically

bo possible. Fortunately, however, things

In the last

quarter of 1953, output (measured by

1805 are not so bad or this. Since mon on end, off the stocks).

198 m 70% 1fll t

8.09

for ships

the war the demand has been exceptionally heavy was already and initially the United King-of the last three years; and dom

above the average

in

was exceptionally weli 1984 there should be more steel placed to meet it.

to the

shipbuilding

The end of this exceptional

demand was postponed by the

as the supply of

outbreak of the Korean war. steel enables

the industry to

0.05 What has happened now is that work nearer capacity. It should

a rotor to "normal" has taken be possible to count on a real

8.05

0.03

place

at the same time as the reduction in costs.

8.70 revival of the UK's main, com-

petitors has been completed.

Fuck the ord

orders placed in yards in 1959 were more than those placed in 1949-in all the circumstances a signin- cont

achievement and during the year as a whole they were more or less constant:

though slightly more orders were placed 1920 in the first half of the year than In the second the difference was not very great.

Probably

IK Land

*B

774

Shal Land

Humphreys 19,10 19.20

19.10

Peaks Tram 29.10 2011

53

..

MA

141

UTILITIES

Trem

Peal Team

(New)

Star Ferry

C. Light (0) 15.60 15.83. 1000

C. Light (N)-12,00 12.76-

Electric Telephone

INDUSTRIALS

Coment

the most accurate way of describing the experience

NEW YORK

STOCK/ MARKET

New York, Feb. 17.

of the shipbuilding industry in A three-day. decline in

stocks

was turned into a

1953 is to say that in the year the sellers' market at last came rally today when President Eisenhower ankbanced that.

to an end.

To recognise the end of tha

sellers market is to exorcise any he will consider emergency 2950 senso of impending disaster: the measures, including a pos 500 5 20,50 buyers market is a, long way sible increase in personal

549,30

21 21.20 300

500

500 21.10

1000 21.10

1500 of 21.10

27.7627.90 200 27.30 1000 + 27.80

the way of the formal exchange of notes by the end of the month.

ese negotiators in Tokyo, but STORES, ETC.

Добру In

Watson ab

.18.20 Crawford 25.250 COTTONS

Textiles Cap, 7.45

It is understood the Japanese Government will undertako to:

1. Recognise the right of the United States Government

1000 7.45

Income tax exemption, to com prevent any depression,

short of a depression,

On the other hand, it ought to remove as well such placency as may be encouraged by the length of the remaining order book.

⠀ MORE BÂLANCED VIEW

wost stocks in exact contrast to The rolly lifted prices for the early trading where moet stocks were fractionally lower and a few recent favourite.

Though, in total orders are stilz | stocks' down a point dr more. equivalent to several years' out- Rail stocks paced the upfirn 24716 2.50 500 325 put, and by any standards, with Missouri Facile, preferred, 1000 0.41% except those of the Korean up about a point following the 2750 2.47 boom, extraordinarily high, the

1000 @2.47) length of the order book for all recommendation of a now re-

ships

is not the same.

to assume the claim of an New York Sugar Ther

American Investor receiv- ing compensation through the guarantee programme,

2. Permit the United States to use for administrative expenses in Japan any yen paid by the Japanése Gov ernment to settle claim for compensation,

Futures

To The

Gre

the · smaller.

-50

are some yards,

yards,

already

buyers

organisation plan by Inter-State Commerce Commission,

New York Central, up; and, to follow.

market has come RKO Pletures unchanged at the Industry be day's close. They were second shipbuilding

Intind th fall in

respectively I tho

The new plan would give vot anxiously Ing control to present preferred looking for new business. Never- stockholders and It reflected theless it should now be possible this with a gain of a point or New York, Feb, 17.

to take a more balanced view of [more. World No. 4 sugar futures the outlook for this year and today closed unchanged to 3

the points lower with sales of 125 contracts.

to the 6 sugar futures closed cause of the general. No. unchanged to 1 point higher freight rates and, the general with sales of 337 contracts,

uncertainty about

Ot 1:131 enres traded, 450 World futures" moved in Until it is certain whether or not mished higher and 398 lower. amount of compensatión | narrow range, reflecting quiet the recession in America will

read, it paid after nationalisation i conditiime in the

it is hardly likely market, of an industry or change Štekdiness in rave sugar was there will be a in Investment laws,

reflected in

3. Enter into direct negalia

tion if the United States is dissatisfied with tho

1. Request an arbitrator

give a binding ruling the case of dispute,

to

in

5. Submit the question of an arbitrator to the President of the World Court, at The Hague if the two Govém- merits are unable to choon one Within three months-P China Mall, Special:

CHICAGO GRAIN

FUTURES

Chiengo, Jabón,

Słoking Priedu

Some dealers thought reliners

a pound for raw, delivered, in to prompt position.....

world trade.

way.

that

actives.

Steel Stock Wer steady.

domestle contract in demand either worked change. Motors were little changed y

Under this uncertainty, how Oita: had gone tangina 55 might pay more than 6.00 cents ev hope that United Kingdom Parthe Western Seaboard Di is at any rale reasonable paint or more in Monterey DJI shipbuilders may now have some who Standard Dit of Indiana, advantage.

· The NY Stock Exchamite beid Figures for forsion

foreign yards In-volume was at $5,220,000 dicate that the period in which The American our competitors were catching chishte i volume

La up! now

there are signs shares. aver:

everywhere has Dow Jones closin Meanwhile, the were! United

shipbuilders PAR should have the competitive industriais

20 rall advantage of the new loan terms, unnus

Fulure closings were:- starch Contract No. 4 (world) May

March

turned

that demand

par ib. zob Cuba)

No.

· 5772b

Tad say

activities

enlarged s Mortgages

Bompany)

the Ship

And it some reasonable to ex pect that when the Budgs: lu Britsh Amaco more willing order. Even if Mrt Buller,a

pocation that he Ely do

108 000

York Cotton

people