1954-02-24 — Page 9

Canard's New

New Liner

THE CHINA MAIL, WEDNESDAY, FEBRUARY 24, 1954.

TRAPL

ONEMIERCE SECTION

the Saxonia, of Beautiful lines of Cunard's fatevi liner are shown in this impressten hamed and launched by Lady Churchill last wook at Ülydebank, Scotland, gurds of Messrs. John Brown & Company. Saxonia is the first of three now Cunarders.. the largest to be specially built for the Canadian service. The liner's displacement la 22,000 tons-Reuterphoto.

Tearing Up Frozen Alaska To Lay

A 621-Mile Long Pipeline

Anchorage, Alaska, Feb. 23.

Giant bulldozers are tearing down trees and ripping up the frozen ground in Central Alaska today as they cut a path for what will be the biggest pipeline construction job in the Northland since World War II.

By the autumn of 1955, 400 barrels of jet fuel should be flowing north every hour through this 621-mile long pipeline from Haines to Fair- banks to service the fighter-interceptor aircraft which stand guard over the Arctic, where North America and Soviet Russia are near neighbours. But as yet the pipeline is only a blueprint in United States and Canadian defence plans-though it is gradually taking on the shape of a thin 50-foot-wide scar cut through the wilderness of British Columbia, Yukon Territory and Alaska.

After more than two years of who will arrive advance planning by officials of the spring

bids

were the two nations, asked for last autumn and 29,001,287-dollar contract signed on October 29 with two United States and one Canadian firm, acting as joint venturers. These firms, Williams Brothers

WIN

on the job in

terminal From its suuthern ut the Aldsko port of Haines, the pipeline will travel east and north through Alaska, then for 284 miles through Briush Columbia and Yukon Territory. and back into Alaska to the of Tulsa, Oklahoma; Mc- far northern city of Fairbanks.

Falls, Inc., of Great

Merwell of

its route follows largely that Montana; and

Con of the Alaska Highway, passing etruction Company

Van-through dense forests and over couver, B.C., started

work mountain ranges, skirting deep

jakses and almost immediately despite the northern

going cold northern winter.

through swamp-land and over permanently frozen earth.

This varied terrain with its

of climates, wide range riding, together. a temperature range of more than 150 degrees, to present con- is expected siderable building problems.

Within

month, heavy equipment was being moved in to key points along the route, and path WES being torn through the wilderness to keep shead of the pipe-laying crewa

pro-

Tito Lifts The Tax

On

Bibles

Belgrade, Feb. 23.

On the wall of a rather draughty office in

Belgrade's First of May Street hang two pictures

But defence ofleinks believe the pipeline is a vital project and must be rammed through despite all obrtncies, to provide

protected channel of supply in the event of an emergency. For the Polar air route across the of the world, which brings top America's big cities within easy striking distance of Europe and the Far East, is the baste reason behind the construction of this pipeline.

This Polar

roule concept

NEED TO SIMPLIFY INTRICACIES

OF CUSTOMS Argenta Orders

GATT's Novel Proposal For Tariff Cuts

The United Kingdom has joined with other countries in urging upon the United States the necessity to simplify the maze of Customs intricacies and uncertainties of interpretation which beset exporters to that country, according to the London Journal of Commerce.

Simplification, It is held, could lead to expan- sion and a quicker movement of trade between the USA and the rest of the world.

Britain has its own intricacies in Customs matters which must plague both our importers and exporters, but It is up to the Government to set an example to the USA and to those countries in the General Agreement on Tariffs and Trade, the Journal cald.

ما

–

Russian Goods

Buenos Aires, Feb. 28. An Argentins trade do- legation has placed con- tracja in Kussia for capital gooda, valged 'at nearly $80,000,000 (about)... £17,- 657.000) which are essen- Kal for President Paren's second" Bro-your plan, a Foreign Ministry spoken. man said. here today.

Argentina - has also in- vited Czechoslovakia ” and Humanis to send trade de- legations- kapijand the Argentine trade detersilon now in Patins Arterio ka Moscow visit has been ftirpated to re to Frazde.

Two of

will travel this delegationis frdza ie Bacíturess is study, and possibly purchase, eli drill- ing and processing" equip- ment, the spokesman 'usid.

Mester.

HONGKONG SHARE MARKET

Before the war British Cua- tariffe then at cuts in Imports. toms

Im- "No country wishing duties levied on

to ex- ported

were roughly iɛnd, or even maintain, its ex- goods tylded into two catégories ¦ fort trade can hipose protec- those traposed traditionally for tive tariff's without taking the purpose of raising revenue fute conkieration the possibility

of reialson" "kohtades. and those imposed primarily to afford some degree

GATT PROPOSAL

By Our Cerrespondent) of protec-

The tion to demesik industries,

Contracting

-Parties

Business done of the Stock Balance of payments

and GATT have issued a brochure Exchange this morning amount- gold and dollar reserves

fored to $760,448.40. -Noon quota- posi featuring a new proposal tions have

tended

create the reduction of Customia tariffa tions and to

the morning's deal- They new a procedure quite artificial proposal originally

Inga to the faelle system then extat from France, and has been re- IHARES HUTENS SELLEÉS SALKS ing: quotas and licensing study; it is briefly:-

ferred to a commission

BANKS

HK Bank XD 1874 strine have supplanted

Est Alla "Each Government protective tariff as the principal

participat- INSURANCES

Unton means available to the Governing in the plan would undertake ment of controlling the volume to reduce the average incidence of imports.

of its Customs tariff in a base

the

come

for

Countries overseas have not year by 30 per cent, in stages been slow to imitate Britain the of 10 per cent in each of three traditional

Governmenta exponent of free successive years. Trade, in

would not be required In adopting our

to T proceduse every tariff rate

ale by Chia dures controls

11

mports amount, for within certain and of their extent;

limils

they

would be free have

the ob- choose the items copled the jectionable features to the ex- che reductions.

of

to

on which 10

105

665 20 25 1509 201

Underwriters 6,83 ศ SHIPPING DOCK B. ETC.

New

York Shares

Lower

But Losses Small

* N

New York, Feb. 23.

Stocks turned down again' today, with recent favourites among rails and industrials suffering losses of a point or more.

Activity lightened' to 1,470,000) sbarts, the lowest since Feb: 2, from 1,510,000 in the pres holiday session on Friday.

Ali section joined the down- turm, with rails, aircrafts, oils and some motors the hardest hit. For the run of stocks, how- ever, losses were smali.

Egypt Raises Price

Of Its Cotton

Cairo, Feb. 28,

Market experts said the cur- rent eosiness was a result of a period

of consolidation after the six-week advances, and The Egyptian Government to- with the approaching of March night raised the purchasing 13 government lax deadline price of certain types of cotton adding pressure.

and announced now prices for The day's biggest feature on Government purchases, from the upside, and the most active growers. JEsue. WAS 2 rall-Missouri Pacific preferred, up 24 points to $52.

The price of Ashmouni medium. staple cotton WEB DOUGLAS DOWN

raised by three tallaris (about 12 Douglas was with a loss of 234 shillings) and Karnak long to $100. Boeing fell 1 staple cotton by four tallaris $50%

(about 18 shillings),

Declines in the oils ranged to

The Egyptian Finance Minis- 212 points in high-priced Texas Pacine Land Trust at $1184: ter, Dr Abdel Gelil Emary, an and to $186 in Amerada. trounced new Government 550 | purchasing prices from growers Of 1,160 issues traded, were lower arxi 921 higher. as follows:

The NY Stock Exchange bond volume was $3,330,000,

The American Stock Exchange volume was 450,000 shares.

DOW JONES AVERAGES

Dow Jones, closing averages оп Wall Street were follows:-

Dock

1.15 1.20

21,40

Provident (0) 13,30 13,40 1909 @ 18.30

20 industrials

1000

13.30

20 raijs

3000

13.30

15 ties

500

13.30

O stacks

1000

13.30

40 bonds

500 e 13.30

Provident (N) 12.70

S'hal Dock..

Wheelock

13 1.30 7.85 7.03 1000 a 7.03 1000 @ 1.90

LAND, ETC.

HK Hotel.. 8.60 8.70 300

tent that those Customs' ruling the reductions would, how- of the U.S.A. Have called for

ever, have to be distributed general simplification, and Bri-

throughout the tariff and not tain's own, the sterling eroa in-

concentrated in any one part cluded, have been roundly con of it, thus ensuring that

the demne..

benefits would cccrue to ail LONG LISTS

supplying countries even to one "The simplicity of

that charac-whose interest might be limited terised the British tariff during to products of a certain class." the heyday of free trade, in the

S'hai Land.. In order to achieve that ob- latter half of the 19th century,"

Humphreys ject the tariff would be divided comments the current Midland into scations. covering

Jet-uge worlore has concentrated a fairly large share of America's defences at the "backdoor** the United States in Alaska and the Arctic.

of

broad

Bank review, "wa

"was progressivo- categories of related products,

ly

was first

diminished in the period besuch og primary foods, pro- It is no military secret that

tween the wars. Today, the due's of the chemical Industry, these Alaska defence installa-

ilsta of duties, exemptions and &c., and the 30 per cent riduc- tkins are operating in what the

allowance Bll an official nine- tion would be applied to each inilitary

Heartland." call "the Under this plan, the

nearly 300 sector." ounce volume of Arctic

pages, and even then the book When this proposal wastes are spanned by

radar

does not enumerate all the ar- mooted the opinion expressed sites and other early-warning

ticles which are subject to the in this column was to the effect devices, while the actual air and

'general' ad valorem, duty of 10 that, if adopted, it would go far ground units are concentrated in

per cent. Most of the Customs towards that liberalisation "of Alaska, small area of Central

receipts, however, arise from trade from tariffs, quotas, Grea This "Heartland"

the relatively feyr commodities licensing, with abolition of cuts Alaske runs from the seaport

that are subject to the 'revenus' | in imports and levies city of Seward, east and north

dulics." along, paved highways

ports, which could conceivably to give lead to the rebirth of the era of Alaska's only railway line

city,

of the Territory's Intgent

the free trade, with freedom of cur- Anchorage, where the military

duties we levy: "Although the rencies. And main purpose of this group of Such

made nations duties is to raise revenue-as is prosperous, and wealthy, and indicated by the levying of cor- free from acrimonious strife responding Excise duties 011 40d frustration.

headquarters and an air

-a photograph of President Tito" and an oldermy base are established. canvas of The Last Supper.

Their juxtaposition is symbɔlle | Yugoslavia.

No activities are

SAU

And

to

this

From there, it continues north, into the interior, to Fair- banks, where other vital, mili- tary bases have been bulk.

Stormy Stretch

At present, heavy supplies and especially jet fuel for these bases must move north from the United States through the

routes along the coast.

The review goes on

interpretation

hotced goods -

never-

...

an era

on

ex-

It would lead also to the ap- some of the countervail- plication of the inevitable law ing Ex

Excise duties are fixed at or supply and demand, free lower rates, thereby giving a from the artificial pump-prim measure of protection to thoing to ensure en over-supply of British product."

this or that category of com- Mr Butler hopes to get support modities, from GATT in order to gain sn expansion of Commonwealth trade. This hope was expressed in the communique after the Sydney conference of Common-

woolth Finance Ministers.

He has, to our mind, to show Fome

clearing

of the work in Communist undertaken in the other Balkan Yugoslavia of the Belgrade countries of Hungary, Rumanla, branch

the British and Bulgaria and Albania. Foreign Bible Society which has Mr Jeremie said the Yugoslav been the sole supplier of Bibles Government authorities were at and biblical texts to Yugoslav present quite co-operative and Christians since the Government had allowed sume Bibles to be censed publishing them at the imported at

& reduced duty long, unpaved Alaska Highway. end of the war.

rate, Bibles

G books worz or travel the equally feng by Churches live now come to liable to a 50 per cent customs

and dificult ocean shipping their duly plus another 150 per cent rely on the Society for

tox known supplies.

"import ་ the This spring the Society hopes co-efficient."

"However, the Government import a blg consignment of 10,000 Bibles in the Serbian has been vary kind recently and, Language, 5,000 in Sloveno and let in some Bibles without duty,

Journal. Above all he has to the and some on payment of half 4,000 in Hungarian for Hungarian minority, 0,009 New the duty," said Mr Jeremie. Testamente in Croatian, 5,000 in Slovene, 3,000 in Hungarian, cs well as 65,000. ples of the

If full duty was paid on Gospels in Serbian and Croation. Bible, it would have to be sold

Sorbian

Croatian

are for 1,000 dinars (24/- sterling) essentially the

the same language to cover expenses. except that the former is writin

the Society sells at

46

and

At A Loss

a

North of Halnes, these ship- ping lines are in the open sea where vessels would be open to easy attack,

Singapore Rubber

Market

JK Land...

74

1.10

18.10.

1000 300

8.00

Comm. future price index

101.60

On the basis of grade, good: Aahmount 83 tallarim (slabrut R10.12); Glm 50 tallaris (about £11.4); Menouf 08 tellaris (about £11.11); and Karnak, 62 falleris (about £12.8).

The Government also nounced a bonus of three tallaris 200.03 (about 12 shillings) a kater 543(about 100 pounds woight) to growers and merchants who sold 29.04) their cotteint fo the Government 170.96 during

the pres-t season

-United Pros8.

New York Sugar Market

New York, Feb. 23. World No. 4 rugay futures to- day closed 1 to 6 points higher with sales of 414 contracts,

Domestic No, § sugar futures XD Resity 02.0736 2.1215 1900 2.18 closed 2 to 3 points higher with

sales of 884 contracts. UTILITIES

Puture divsings were:-

Contract No. 4 (World)

Tram ...... 2846 20.70 100, @ 28.30 500 2814 Star Ferry

ха

C. Lani (0) 15.20 18.30 2000 4 15.10 May

1. 1048. 44

beginning Sepegiment of a

This is in

pledge to pay out three quarters of the proft made from the salo of cotton

frotr purchased

The Brower and merchants. remainder of the profit will go into a reservo furid-Reuter.

CHICAGO CRAIN

MARKET

Chicago, Feb, 23. Prices per busbel in cents: Whest, No, 2, red

138

March

3.42

3,40

2000 15,10 July

3.29

Spot

500 13.10 Bopi.

1.40

March 21896(10) "2144(L): 213

1000. 1520 Oct.

3400 ∙MAY

Closing Prices 218

2121

200 16.20 Jan,

JJID

July

60 18.20 March 500 18.30 May

3.30

Bept.

C. Light (N) 12.10 12.00 1000 ve 12,30

Spot-cents per ib. fob Cubs)

Contract No. 6

3.40

3.208 Nov.

Corn, No. 2, yello

Spot

March

5.69-70 March

1000 12.20

May

5,70

HAY

100 12,20

July

Juty

Sept.

1,826

Sept.

1000 100

NOV,

Nov.

Electric

... 20% 314 500

200

Spot-(cesta per lb. eif NY

ex-dock)

New York four, 200

5.72 Frem.

lbs, Back

Prest

500 12.10 1500 @ 12.10

Telephone

INDUSTRIALS

Cement......... 20.20 17.00 Hope STOKES, ETC.

Dairy

20.70 20.00 200

.. 20.2023.30

Watson

X Al

Crawford 25 COTTONE

Ewo Textile Crep. 714

Yangtze 0.40 Youmati

18.50

1.05

137 · 141

MISCELLANEOUS Singapore, Feb. 23. The market operied higher on In the conduct rumours of possible. away intricacies in

Russian of our import

cold the trade,

buying from Indonesia.

There were some trade en- show that the policy of impo-quiries and ing cuts in importe, instead of Future closings were:-- resorting to an intensification of No. 1 rubber par to, March 046-841 схротів,

is fundamentally wrong

5436+093%

$36-534%

2000 @ 7.60

2000 @ 6.56

short coverings. London Foreign

April

and

in the world have had little al No. 1 ternative but to imitate willy No. 4

—a policy which other countries No. 2 rubber per lb. March Fa

May

When the pipeline is in operation, tankers will be able to leave the United States west coast port of Scattis and travel the whole way to the Haines terminal through the protected the "Inland passage" formed by

islands numerous channels along the coast of Bri- lish Columbia. The

dangerous and stormy strotch of open

will thus be avoided, the pipeline builders will be the

Is fact, in cyrille letters for the Serbian loss. The cost of a Bible in water Orthodox Church and the latter | the Belgrade office is 200 dinars One of the big enemies of in Western European letters for (about fivo`shillings) to an in- the Roman Catholic, Protestant dividual

customer and slightly.

yweather. Workers will have lo and other Churches.

07) bulk orders from contend with a great variety of Between 1951 and 1953 the

A Churches

New Testament climates, from the cool summers Society imported about 15,000 cost 50 dinars (about one and relatively mild winters and Bibles and 30,000 Now Testa-bling.)

deep snows of the kines ares, Society concentrates on to ments,

the liat summers and ex- providing the reader with the tremely cold winters in the Scriptures in his living mother Yukon Territory

And the In this terior of Alaska. tongue:

The Belgrade branch. Je under the direction of Mr Velimat Jeremie, who has been with the Society since 1920,

One Centre

Before the war

10-

knows that if he curtails

<l

32-0251 nilly. The average business man pot rubber unbaled K

-United Press NEW YORK MARKET pur. chases from

that one client,

New York, Feb. 23. client has to seek compensating Rabber futures today closed sales, or else curtail his pur-3 to 7 points lower with sales chates to the volume and valub of 33 contracts. of the eurialiment imposed up- Dealers reported on hims

It is difficult to assess

Exchange

New York

Momrest Amsterdaeri

London, Feb.

Blocked Mark

Coponitagen

Hamburg

Brussois

Oslo

slow

situation in the rachiti market. With the manufacturers holding Why Mr Butler, two years ago, hoped meeing among themselves he would escape Instituting such to contract the potential buyers. today, dealers found it dimicult a natural businčos cycle of events a cyclo

nowball", chararfsumed March

with un- fortunate reverberations around

The cut

the

world.

Port

Parly

Blogkhoimi

Zurich

200-14-20,06% 5

NEW YORK EXCHANGE.

New York,

England-official

AUTOTTİCİRİ

·30-day · furtu

“Future (alosings were:

May Bestember" March

Canada

19.70-73 **** 19.70.2.

19.7ibi..

Nash 'Eve

Bouth

•London, Feb.

1 New Testament in Serbian glou, the thermometer can resett in the translation made by Vuk 100 degrees Fahrenheit in the Karadzlegnarly nineteenth con- summer and drop almost as far war the omen used tury

culs in sterling area Im, scholar, who give the below zero in the winter.

Falfback his ; lind /* high to be the Society's centre for Serbs a phanetle alphabet and a

11@renting (

led directly to thro

LONDON MARE the world all the Balkans. In Yugoslavia literary language. 1

temperature of 90 degrees and aluation ics in Yugoslavia

which th today emitustion in re are, Snagukan Teruity, which there sub-omre at that time Churches in

Sarajevoj under a

religion low passed the pipeline route passes, holds United Kingdom Ljubljana, Zagreb and Skoplje, last summer, free to hold ser- the all-Ume cold record for the unfortunate position of ex

Doring less goodr unds four travelling agerits, vices, though they are heavily North America of B1 degrens"

neces arily to import, with leadi After a te, and of the war faxed and their means of educa- below)rds recorded on

uncertain nativities were resumed on a reing the young lsbacks Fabrumby anidengar bun duosd scale and Bibles which But, as Mrider einic, mid, the Terrain:11; ka(50) had been printed win Sweden Society does not interress in headache, buis here:

now fund texts of the Berip

India

FLY HONG KONG AIRWAYS

AND NWA TO

TOKYO

TAIPEI, OKINAWA

3 FLIGHTS WEEKLY

(Via Hong Kong Airways to Talpot) Departing Every Tuesday, Friday

and Sunday NES

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