1954-03-03 — Page 9

THE CHINA MAIL, WEDNESDAY, MARCH 9, 1954.

Nagulh | Examines Farouk's Coins

Page D

The sale of the vast collections of art treasures, formerly the property of ex-King Farouk, took place recently at the Koubeh Palace in Ca

This picture ction of coins. shows President Naguib (centre left) examining part of the c He is accompanied by officials of the Egyptian Government. The collections will probably raise some £500,000 for the Egyptian Treasury,-Express Photo,

No Cells, No Bars, Just Ping-Pong_And_Bridge

The Germans Thought

This

Prison

Was A Sports Club

Copenhagen, March 2.

A prison without bars is the Danish prison authorities' There are answer to the problem of the "dead-end kids." probably as numerous in Copenhagen and other large Danish towns and as troublesome to the police, as anywhere in the world.

formally abolished in Danish Forty years ago, whipping was prisons. Today, troublesome young men are sent to prisons without bars, where the recreations include ping-pong, miniature golf and even bridge. Recently, a Danish auditor disallowed expenses incurred in giving miniature golf lessons to the inmates of one prison. But his attitude is not supported by those in charge of the prisons because they believe that one of the answers to the "dead-end kid" problem is to teach youth the use of leisure.

The first prison without barn in Denmark was startett as an experiment some years ago and by now enough experience has was a sports club." been gathered to enable prison nuthorities to know

When told that it two beers. was u prison, the Germans re- "Sorry, we thought it piled.

not only

'The contrast

between the

for what type of prisoner they conventional prison without its but also how tiny cells and forbidding espect, are best sulted, they should be run.

and the new prisons is astound

A true story is told of how

a

ing. Instead of bare celi, the patroners usually live in two tired and hungry Germans! couples in small rooms which soldiers during the war, secing une of these prisons without bars, stopped and asked fur

-

This Gadget Pulverises

aged to work on useful per- suits and hobbies.

The principal alm of the authorities is to train the young men so that they profit from the time spent in prison. Letters are allowed and Inmates encouraged to talk over their

with the problems

prison authorities.

are

Spare time occupations aro

with

are simply, but normally, furn-organised in clubs managed by ished with tables and choirs, the prisoners themselves,

one member of the prison staff taking part to ensure continuity, an effort is Where possible,

clubs rc-

a radutor, pictures, table cloths, books and even plants in the windows.

But while iron bars do not

the prison nake,"

Пя

made

to get these

poet cognised by outside organisa says, even I prison without tions,

bara has its disadvantages. How- ever pleasant it is still a place where the inmates are deprived of their liberty

and are sub-a jected to rigid discipline.

Your Garbage Galling Restraints

London, Mar. 2.

Great stress

is laid

upon

hobbies, for it is felt that it a prisoner becomes interested in and is a member of a he is club, the persons

much to meet will be better for him

those than would find in the coffee bar. billiard satoon or low class drinking den to which he would otherwise probably resort.

he

or-

Among the occupations ganised into clubs are model flying, chess, bridge, athletics,

theatricals, amateur tennis, association football hand ball.

table and

COMMERCE SECTION

BRITAIN FAVOURED BY BUYERS'

MARKET The Upper Hand With Argentina

By Sydney S. Gampell, Reuter's Financial Editor London, March 2.

The change from sellers markets to buyers markets dominates all Britain's negotiations with ker supplying countries. Access to U.S. surpluses for "payment" in sterling is only one facet of the change, and Argentina is merely an example of the prospective effects.

Australian Wool Record Expected

the

Washington, Mar, 2. The US Agricultura Da- partment said today latest Australian forecast places the 1953-54 Ano- tralian wool clip at 1,260,- 100.000 pounds.

The forecast whe turned

Jointly

by the Commun- wealth Bureau of Centas and Statistion and the Barou

Agricultural Economiceted estimate for

The

of

the 1952-53 / Austenlab wool clip is an all-time twoord of 1,300,000,000 pounds, a. departmental publication said. -- United Prese.

HONGKONG SHARE MARKET

When the current five-year Anglo-Argentine Trade Agreement was negotiated in 1949, Britain was in the weak position of being the most neces- sitous buyer in sellers markets. When the next long-term agreement comes up for negotiation in the near future (the negotiations are due to (From Our Correspondent) start on April 1 but are always late) the British change this morning amounted on the Stock Ex- officials will have to resist the temptation to over-to $1,120,045.10. Ncon quotations play the shift of bargaining power in their and the inorning's dealings:- favour.

In the protocol covering the current half-year, signed in Buenos Aires on February 8, Britain obtained enly trifling concessions on such important matters as financial remittances and the expropriated British-owned been criticised utilities. The British negotiators have here for not having secured more,

1

Hems

significant

chooses. mupe that they secured anything at all, considering that there was same doubt whether it was worth while to have any proto- col for this half-year,

On remittances, the Argen- ting concession WBS for non-

railway pensions: This is not much, but the Argentines were not under any strict obligation to do more. In December 1952 they undertook to consider the resumption of ordinary financial remittances If in the course of 1954 the general foreign change sumciently.

-XJ

situation Improved

Plainly that obligation did not fall due in February. In one of her own similar calendar- year obligations (the

annual release of sterling balance to Egypt) Britain argues that she is entitled to defer the pay ments until December 31 if she

Commonwealth

Businessmen

Meeting In June

London.

Businessmen from many parts of the Commonwealth and Empire will meet in Montreal from June 14, 1954 to discuss, In a non- political atmosphere, many

Com questions affecting

and monwealth commerce industry.

In fact, despite what she suffers at Egypt's hands, she has hitherto pidd up on January 1, and though she would no doubt like the example to followed when she is on receiving tide, demand it.

b୯

she can hardly

The Argentine undertaking of December 1852 still exists. Its application evidently depende on the course of events this year and on the impending negotiations for the long-term agreement.

J

BEST ENDEAVOURS As regards the utilities, tho protocol of February & renews the Article (which was itself n renewal of similar promises in previous protocols) by which the Argentine authorliles un- dertook,

of within the Ilmilts their powers in these matters, to use their best endeavours to promote a settlement.

of

In addition, the Argentine Foreign Minister sent the Bri- fish Ambassador another letter Intent about the utty good utilities. The texts of the letter is unpublished but its glst understood to be that the Ar gentine authorities appreciate the importance of the subject and express their goodwill and their desire, within the limits of their powers, to promote a satisfactory solution as soon as possible.

In responsibic quarters the letter has been described as de- Bnitely leaving the door open for negotiations in connection with the discussions for the long-term trade agreement. On remittances,

utilities and all other major matters, both sides are evidently holding their fire for these main negotiations.

The agreement of February stop-gap errangements Under the Presidency of Lord on

for the current half-year was in the

the nature of a preliminary Federation of Chambers of Ccm- | the British merce of

Empire canter. A letter in such

dial terms will be taking part in

can hardly fail to The

the Eighteenth Congress which is help

British negotiators being held there at the joint when the time comes,

Council Invitation of the City.

This whole Anglo-Argentine of Montreal, the Montreal Board relationship may be only of Trade and the Chambre de aspect of something for more Commerce du District de important. The terms of trade- Montreal.

the relative cheapening of im- port prices have been

lucky

Burghley, delegates from In a normal prison, according A collapsible lunchbox to Inspector Worsane Petersen, that fits into man's who manages a prison without bars for Juvenile offenders, the pocket, a pastry mixer that drst few months are the worst, entirely prevents sticky After that, the prisoner gradual

pe- more or less fingers and dry-or-steam ly becomes iron which will press wool- elimalised to his surroundings. Ich tailor-mades without In a prison without bars, the the need of a damp cloth all beginning of made their bow when the the castest and it is not until two, three or four months have

markets.

ments

tween

the

sentence is

"Our Clientele"

to

The Danish press has poked Daily Mall "Technical passed that the prisoner

feels much fun at teaching the pri

soners miniature golf. But Mr Home", exhibition opened to the full its galling restraints. Worsene Peterson explained that in London's Olymple totiay.

Most of these open establish- "a certain part of our clientele All are destined, soon for the

consists of backward young, are not large, holding U New Zealand about 70 or 80 young men Australian and

sters,

undeveloped mentally bo-{***

and unaccustomed to any form the ages of 18 and 26, of spare time occupation. For households with

more who have been sentenced For "It is therefore necessary money to spend, there is a

theft, assault or unruly vonduct machine-manufactured in. Wel- of one sort or another.

start them with very easy, and lington, New. Zealand-which

simple things like miniature pulverises your garbage beneath

croquet In a prison without bats, the golf

and draughts, your Bink and neatly flushest demands upon the prisoners are them to more complicated

which are intended to lead away in the waste pipe.

pur. Anot the same as in normal pri- £70, this has become almost àsons. But Mr Petersen belleves suits requiring some thought, best seller on

the English

they

"Not all youngsters are able no less severo, For ato market over the past 14 months.

to understand the complexities stance, But since manufacture began santre have to live together a sufficient manual dexterity for

the fact that the ptl-

of bridge

or chess or have nine years ago, it has also been members of a community de- exported in quantity to Austra mands much of

woodwork. lla, Bolivia, Iceland, Holland, whose incluations aro general- a young mhn Belgium, Uruguay South Africa ly unsocial and unsociable, and the Brilsh West Indies,

Favourites with today's

crowd included the Australiens exhibit

a half a day, and the young thing and are mentally, active "Australla-British larder" where

women are kept at it from early is surprisingly smally, and › for overything from wirtos to

to honey, ogies and canned fruits, frozen afternoon, with a short interval easily lead to crime

in the morning until the late many this very patalvitys can land, butter and tinned meats for "Frokost", was. On sale

or both.

single-decker sandwich lunch is

10

"We encounter an unbellov able degree of passiveness. The percentage of- "dond-end kids Working hours are eight and who are capable of doing some-

1.

as the Donsbark is to reform and make good citizens, of prisotærs rather than

Believing that their principal

Ding the MOT PAY which called. During the

29,

prople will get a achatice to taste lessons which theludo mnay Australler tawny port gree of tick, gardening, carpentry, elvis charge while they leten to 10-

minute talks on wine by and

merely 6 pudlar om Danish prison authorities think that tiny have discovered

farimar Sydney, Radio commens † The daily spare ume amounts due Richard, Huftens to three, and a half hours and com China Ma

rehat!

The Governor General

Massey, han the ceremony.

cor-

Business

BĦARES BUYERS SELLERS" BALES BANKS

HK Bank XD 1010 1020 38 1010

Ent Att INSURANCES

IOT

Lombard Underwriters 0.00 7.10 SHIPPING

DOCKS ETC

Shops. Say They're Jap

More Complaints In UK About Rubber Boots Made In HK

The Director of the Hongkong Government's London office, Mr E. G. A. Grimwood, has refuted yet another allegation that rubber boots, labelled "Empire," are being imported into Brithin from Japan.

The boots In question were made by the Hongkong Rubber Manufactory Ltd, and marketed in Britain under the Arm's trademark, "Seacrest."

Following a complaint from one of his constituents, Mr Robert Crouch, M.P. (Conserva- tive) raised the maiter Parliament. He said his con- stituent had been told "in con-

adenco" by a shopkeeper that the boets really came trcm

Japan.

NEW YORK

STOCK

MARKET

New York, Mar. 2. Industrial.stocks pushed Mr Grimwood then wrote to ahend strongly on the New Mr Crouch pointing out that the York Stock 25 1015

Market today boots were made by a "very old after temporary hesitation.

1615

AID HE 50%

K. Whert.. Dock

21.30

Provident

(0)

13.00

500 13.00 1000 on 13.DO 10.00

(N)

wheelock

13.10 7.03

#

established" Hongkong rubber

factory and imported Into Bri- Fractional gains were the rule tala by "a company which has in all major groups and in the

such long experience in

Im-Industriais, improvement ranged ports from Hongkong."

of

They qualified for Imperial Preference after submission fully detailed and documented costs accounts to leadng Arm of Hongkong accountants,

MALAYAN ORIGIN

to two points or more in. a few special lesues,

The House Ways and Means Committee approval of a year's extension of the 53

per cent corporate tax rate brought monetary uncertainty. For a while prices

issuge of many were lower-espectalty. those where profit taking was al- tractive.

Mr Grimwood continued; "The rubber content is entirely of

Volume lightened on the de- 200 ur 9.10 Matayan.origin and documents eline, however, and the under-

are available showing the pretene remained.

บริ

LAND, ETC.

IK Hotel

40

9.20

1600

1.35 0.40

1500 19.40

#

br 0.40

300 4 7331⁄2

cise estate upon which the rub-

Turnover for the day totalled ber was produced.

"The canvas is wholly of 2,140,000 shares yesterday,

1,900,000 shares, compared with

a chain of evidence, exists going backc

to

Featuring as the active leader 10was Consolidated Vulion, up

point to $233% on directors' ap

the producing mill. With these

basic

two

materials

#K Land!

.. 76!%

70

1000

78

U.K. origin, and

600 * 7515

600 75

S'hai Lad Kumphreys

хр Realty UTILITIES

Tram

1.00

Star Ferry

XD

being

for

wholly of Empire origin, and all royal of A merger with General 17.20

the labour processes carried out /Dynames calling for exchange 115 0.20 2000-47 £2.5755

share of Generat In Hongkong, the actual Empire of 4/7ths

Dynamics 100 8.70 content of the boots will be

etch convair share. 28.00

1000

Dynamies felt to. $427%. of 200 23.70 considerably in excess the

Aircrafts 1000 L 20.70 statutory requirements

United Aircraft per cent

1:30

c. "Light" (Ö) 23.40 15.70 1900 6* 1G

C. Light (N) 12,40

Electric

Telehene INDUSTRIALS

Cement STORES, ETC.

Dairy

Watson

314

500 or 1935

1000 15%

100, or 155 500

1000 101

300 4 15

1000 * 1214

2007 1215

1000 121

100 319.

312

314

ID 312

of 50

Steels w "I can only suggest that the shopkeeper, who imparted the confidential' Information has

Grm,

were

with up

point. were virtually unchanged. Or 1,104 issues trades, 40% were higher, 332 lowe:, 117 un-

The NY Stock Exchange bond

become a victim of the In- changed.

sidious suggestions by those who

oppose the entry of Hongkong volume was $3,670,000, goods into the U.K. that much

products

Japan,"

The

American Stock Ex-

are manufactured in change volume was, 470,000

Dow Jones elasing averager

Singapore Rubber

The

Market

Singapore, Mar. 2. rubber market was quiet. Prices of futures closed today as follows:- No. I robber per 1h. Mar. 83%-83%

Apr. 63%-03

2720

10.00

27.20

300 27.30

300 10,70

010 27

↑

20 or

7.00

No. 4

TH

7.55

Spot rubber unbiled Blanket, crepe

7.85

No. 1 pale èreps

* ALL...10.20 Watson Ri La Crowford 20.10 COTTONS

Textile. Corp. 7.00

MISCELLANEOUS

Yangiato Yaumati

4.00 138

****&*

May 6394-00 No, rubber per Ib. Mar. 0336-6332 No. 3

51-811 527-831% 401-47

-United_Prèss.

NEW YORK MARKET

New York, Mar. 2. Rubber futures today closed unchanged to 10 points higher with tales of 14 contracta,

Futures ruted steady in com pany with the London cables, although activity was not broad though to develop particular

feature.

Spot No. 1 Res were quoted at { 10% cents a pound. Future closings:

shares.

were:

30 Industrials .....

20 mils

15-utties

BS stocks Comm. future price:

.Index.

102.14

2471

-112.84

277.55 DIE 0,82

-United Press.

New York Sugar Market

New York, Mar, 2. World No. 4 sugar futures today closed 1 point higher to 3 points lower with sales of 112 contracts,

Domestic No, 8 sugar. futures closed unchanged to 3 points higher

with sales of 12 con- tracts.

Activity in both markets was on the quiet side and mostly of a routine nature white dealers awaited raw market develop- ments or some other new incen- tives.

Future closings were:-

Contract No. 4 (world).

Invest

4.4.1744 4.29

one

4.20 420 We 4,20 6.4.20 4.20

LONDON TIN MARKET

RAY

1,00

July

3.3011

March

19.501

September

3,301)

10 BOU

October

3.30

Roy

London., Mar. 2.

July

19.500

January (1933)

3.300

11.000

March

Sept.

Des.

19.506

May

March

10.000

July

United Press.

Spot (cents per ib.

LONDOŇ MARKET -

Tob Cuba]

un-

The

rubber

London, Mar, 2, market

May

5.02

war

July

5,70

of for Chancellor Butler almost

Canado, the Rt. Hon. Vincent-over since he took office, Betis The un market was hesitant

consented to open he and his predecessor, Mr

in the morning session with Galtskell, seem to fear that the spot rising £1 to £688% and luck is about to turn. But it three-month

remained remains to be seen.

changed at £603

30

The Congress has special significance at a time when much

It may be that one has depends on the ciosest possible for seen only the beginning of

the cooperation, between

beneats the

that Britain, the sterling she dellar areas, The great buyer, and sterling, the last Congress to be held in great international currency, Canada was in 1920,

stand to get from the inflation Subjects upon which the Conary proclivity of the Americans gress will report will be group and from the swing from sellors ed under the following head-

to buyers markéta.-Reuter, ings:-

1. Industry and Commerce.

2. Constitutional and Social Standard Oil Co.

Questions,

3. International Payments.

4 Economic Development of Estimates

the Commonwealth and Empire

London Express 'Service)''

Record Profit

New York, Mar 1 *** The Standard Oll. Co. (New

Turnover was 10 tons.

10-101% 101-101

·3674-1896

2014-1892

In the afternoon, the market quietly steady with No. 1 spot was steady. Spot remained un- Rss quoted at 18-1/10 pence changed at $88854 sterling and per 10. Prices: three-month fell 14 to 20832 Spot No. 1 Ras vleeseene

Settlement hours termi Turnover was 30 tons.

Prices Apri closed in the afternoon un- May omelhi sesalon as follows:-- June

April/June buyers wellers July/Sept.

0875 100

Oct/De

1615-1042 104 General markets, cif baxia, poris: -United Press.

March

161-19 LEAD AND ZINC

April

15-15/16-18-1/16 -London, Mar: 1.'' : Extale.crege thick 19/4 PRIN Copper and lead were steady

-United Press. "white" she was carler, Prices closed as follows in sterling per Ting, ton

Spot

3-month

Copper spot

k-month

London Foreign Tray today estimated its con- zine,

Exchange

solidated net income › for 1963 had risen to a new sll-time high. (01:3353,000, 200 or $9,13 * kbare, Weke 052 Jarsky Simdartilhe

Press

London Wool Tops Marker

London, Mar, 2. Wool tops futures market cloud stendy with a' tumover

Cloking prices were

Contract No.

September November

Spot--tenntu þer the elf

NY ex-duly).

UN

-United FYWAY,

New York Cotton

Market

@PNew York, Mar. 2. Colton trading quieted in the afternoon but the market re- mained un évértone of stepdingss | through 88' the clost. ARNE

Tumal, prices ruled 3 to 7 points hyder, Future clbainga--|

March

*July.

Month