1954-03-16 — Page 9

Orsova Undergoes Speed Trials

THE CHINA MAIL, TUESDAY, MARCH 16, 1954.

An aerial view of the new Orlent Liner "ORSOVA", 29,000 tons, taken during her speed trials over the Arran measured mile. She achieved a speed of 20.068 knots and will be the fastest ship in the England-Australia trade. When she enters the South Pacific Service early next year on the Sydnoy-San Francisco run, she will be the fastest ship in that area also. Note her new style funnel, which will capture the hearts of Welshmen - for

bonnet went to rea-this la It-Central Press,

ever

true Welsh

Spain Could Provide

For

600

Airfields

Western Defence

Madrid, March 15..

There is a growing feeling in Spain that the Iberian peninsula is going to play an increasingly important part in Westem defence plans.

The potentialities of the contribution have been summed up in this form by the Spanish weekly journal "El Espanol": "Spain could, in case of emergency, find room for 600 airfields for Western defence.

TRADE

and

"Discrimination Against US Dollar Essential”

By PATRICK CORDON WALKER (Secretary of State for Commonwealth Relations 1950-51) The grim possibility of a United States slump highlights a danger that will threaten the

for years to Commonwealth's unity Whether the slump deepens or flies forgotten as a had dream, there remain the harsh economic realities that will for long make even a slight United States recession so alarming.

come.

The simple fact is that, as far ahead as we can see, there will be a world dollar problem.

Before sterling and dollar can be freely inter- changeable, it is essential that the sterling area should be able, year in and year out, to earn enough dollars to pay for all its imports from the United States and Canada. At the same time it must be able to build its gold and dollar reserves to a safe level—four or five times what they now are, And we are a very long way from that.

the same time, Canada would have a new incentive to buy from sterling countries be cause that would be the only

economic facts of acquired for its exports.

This

COMMERCE SECTION

German Mayor Wants More Trade With China

Hamburg. Mar. 15.

One of West Germany's teading "moderate" sock. alists, the Bremen Lord MAYOT Wilhelm Kaizen, called tonight for tho renewal of Germany's commercial ties with Red Chins.

"We realise is.wolt an the other Western peoples the danger of Bolshevism In China," Kaiser stated at a dinner of the Easi- Asian Society of Hamburg and Bremen.

Standard & Rover Discuss

Merger Proposal

The Standard and Rover car firms have held preliminary talks about a merger of the two com- panies, according to a London report received in Hongkong today.

of

For Overni months thers have boon reports

cor makers merging.

But only two months Ago managing director.

Standard's experience of

the

**But να also know from the

that Basi Germany, more Soviet-dominated aren is shut off from the Western world, the greater the growth of Soviet power in the area.

The more intensive the contact with the Western world, the lem is the dan- ser of a completo absorp-

the

Communist stan in bloc," Kalsen said.--United

Press

Mr A. S. Dick, said there was

rumours of no truth in

遁

merger, and that the company was to remain Independent,

If the deal goes through S holding company may be form- cd, which would pay 6s, dd. a share for Standard's 20,010,000 Ga. ordinary Muck units

234.

and

shore for Rover's 2,900,433 U

shares. odrinary Thus the deal would Involve about £11,000,000.

The managing director of The Rover Molor Company. Mr

America Might

Reconsider

Selling Butter

To Russia

The

Washington, Mar. 15.

of US Secretary Agriculture, Mr Ezra Ben-

preas

con-

HONGKONG would continue to make their Department and the State

STOCK EXCHANGE

5. B. Wilks, said last night: "If so, said at n the two firms do merge Cach ference the Agriculture individual models-there is no Department are considering Euggestion of a joint car going

to plana

offer surplus into production at this slogu."

The Standard Motor Company United States farm was brought by the direction of modities on world markets Sir John Black from a position at competitive prices. of obscurity to membership of the Big Six in the Brillsh motor industry.

(From Our Correspondent)

Business done on the Stock Exchange this morning amount-800

600-A-DAY

It is now producing nearly

vehicles qvery

working

ed to $747,460.05. Noon quota-day: Ferguson tractors, the tions and the morning's Vanguard range (saloon, estate car, pick-up, and van), Stand-

Now It seems to me that of her exports for sterling Canadians tend to be much too instead of dúllars. hopeful About the cconomic The advantages would be im- prospects, and their optimism mense, immediate und mutual. has affected other Common- | We could at once buy much wealth Governments Including more of the things that we are weal the United Kingdom and Aus- donging to have from Canada tralia. Free trade between the and which Canadian producers dollar and sterling 10 - want to set us: wheat, butter, portant to Canada that it is upples, limber.

that apt to think

it can be relatively easily attained.

When Canadians deliver their lectures to the pollte curtain Sterling Commonwealth about way to use the sterling it had facing

the

dealings:- sterling could be spent anywhere life, 1, for one, largely agree st with them. It worries me that in the sterling arean machine SHARES BUYERS "HELLERS BALES and Elghis, Triumph Renowns. Australian wheat, for instance, tools from the United Kingdom, costs more than dollar wheat; it rubber from Malaya, goods from 23 kilo- de Ardoz,

United Australla and so forth. Under me that the worries metros (14 inlies) (rom Madrid.

Europe Kingdom is losing markets to the

Payments Union, Canada's the Germans. Here the Americans will lay

sterling could also be Apart from the pipe-ino,

out runways capable of allow But let me say to our friendly spent in Europe. other United States operations

A GODSEND critics that there's which are expected to material- ing 180-ton super-bombers the they

If the United another face to the coin. Unless June, in- 3,000 metres (10.000 ) ise around May et

get America makes it possible, we on require to permit them to

we became worse works clude 'development

with complete cannot,

be a Godsend. best will as this would with the four of Spain's civil and mill-off the ground

safely.

the world, earn enough

Stimulation of trade between tary air felds.

Canada the

and

sterling area help to keep Canadian Important Centre

going and Inject

power

"From these airfields some 36,000 bombers and other planes could operate from airfields which are mainly free from fog.

and

"Together with Portugal, the | Spain in whole Iberian area could house west. 750 airfields, if need be, allow 40,000 planes to operate from them."

United States plans

the Torrejon in air strategy"

Canadian to run

a petrol pipe-lue from Seville

304

to Madrid, a distance miles, 10 allow suppli of patroi 10

intu be pumped central Spain from the river. from port there, and possibly the sea-sort of Cadiz later, are seen as heralding a big role for

1154",

for centre The maits Air

the United Joint

which States is to expand, is that of

Nearing A Solution To

The Problem

Of Alaska's "Shirt-tail"

Alaska, Mar. 15.

Canada and the United States today appear

This

field lies Torrejon alongside Madrid's civil airport of Barajas which already hhs six sizable runways suitable for planes weighing up to 180

tons.

Used together in Lime ot War. the Torrejon Barajas combination would make on importout air centre.

up

Other airfolds

whleh the United States is to develop are at present Saragossa, which has one runway for planes to 00 tons, ÉI Copero, ve miles from Seville, and Moron de lu Fronten, 30 miles from Neither El Cepero nor have paved runways

as yet.

to be nearer than ever before to a friendly settle-Seville. ment of a long standing argument between the Frontera two nations concerning Alaska's south-eastern coastline.

This thin strip of terr- itory, attached to Alaska British capital ogala

ever

by Alaskan port of Skagway

focussed un ertain the Pan-

attention on the shirt tall, has boundaries between proper like u presented a problem to both handle and Canada. nations

since the United States took over the Northern territory from Russia in 1867.

Known as the

British

cutting

"Panhandle"

At last, in 1903, a joint com-

This means that, if the set srxdule is to be maintained. there will be by the middle of 1088 four big modern military air centres in Spain, avari from the up-to-date civil airports of Madrid, Barcelona and Seville.

Spain belleves that given the firm.

thr rocky surface of mission selli the geological great.

sprawling plateau location of the boundary. but Central Spain, and with

to presented no solution the petrol pice-line from Seville to economic problem.

Madrid funelloning, many fur- the air centres could quietly be Improvised and put into use the If war broko out or in event of a threatened wor.

Some Spanish observers gard Communist acilvity France and Italy and Mosiem unrest in Morocco thetors which makeo inevitable importance ever-increasing in the

Was

Residents of Alaska's Pan- It stretches along the coasts of

and handle continued to depend on Canada's Yukon territory

Columbia, effectively the fishing industry for a living of forest north western while development

nrd mineral resources Canada from the sea.

blocked in great part by lack receni proposal by of power. Canadians for "corridors" through "the Panhandle"

Similarly the development of has been greeted with enthusiasm Northern British Columbia and In Alnaka

had proused the Yukon territory was slow-the and

ed down by lack of hope that it may lead to a solution to this long standing facilities. problem.

In

The Aluminum

was

to

plant

for

of British Columbla, Yukon approval of the use of territory

and routh-eastern River water Alaska as a single economie i power.

This approval unit.

not forthcoming.

At present the situation is a deadlock.

north-eastern Carmada has tho On January 30;" power potential and a variety Butler suggested that of promising natural resources, but no way of reaching

port

defence of the West.

Not Happy

Randal Rep would

telis

The recent

us the best we

can

for. its proposals United States trade and making

for freeing herin

States slump measure such

Into

BANKS

HK Bank

Cart Agin INSURANCES

Lombard Union SUPTING

Asta Nov. DOCKS, ETC K Wharf

Dock

Providem 1014) Provident

0001

168

11000

1357%

1.15 1.20

78

100 # 6

21.20

400 21.30

59.70 13.00

(New)

the

S'hat Dock Wheelick

13.10 13.30

1.15

it easier for other countries to Canadian economy. It would export to America were cast in also help sterling countries to a very moderate form in the weather the worst effects of hope of waning Congress's op- US slump.

a step, however, depends proval.

But oven these moderate and wholly upon Canada. It is for have run her alone to decide one way or inadequate proposals

Congressional the other. into a menacing cross-Bre.

STUPIDLY OPTIMISTIC

It would be stupidly optimistic to take the Randall Report at its face value; but even if we do, what prospects does it hold oui for the sterling countries?

L The ending of United

3.

nid in the next year or

Very ittle prospect of an of customs and tariff

Such a

and Triumph sports cara.

re.

Sir John Black recently tired from the posts of chair- mun and managing director of the Standard Company,

after an accident in which severely injured.

he

was

The Rover Company, whoso

com-

Ho wald he might favour reconsiderations of a Commerce

ship

Department decision to refuse un export licence to n Minnesota exporter who wished to surplus Government owned butter to the Soviet bloc,

Such a transaction, he added, could only be made if it did not interfere with United States efforts in the cold war.

The United States Government now held nearly 7,000 million dollars' worth of form products under the polley of bought maintaining

for the prices American farmer.

Mr Benson said he favoured,

factory is at Solihull, Birming to the greatest extent possible, ham helped during the war in the use of normal trade channels

dispose

of

Britain's to

war one of

has been

100

commodity mir-

100 21.30 the development

first jet engines and has since pluses overseas,

"I don't produced the first turbocar.

why we can't home

our Since the

ite offer

Products the abroad mais activities

at competitive prices." he said. *But wo would not want to demoralise more prices and markets."

1.08 0.05 2000 @ 80 production of Land-Rovers __

A Stove To

1000 m

5000 0.03

1000

1000

3000 2.

LAND, ETC

HK Hotel XD 9.09 9.15 100 m 9.10

1000 on 9,00

1000

lo

1000

9.10

1500

9.10

1000

9.10

Fit A Chinese

HK Lind

X All

S'hai Land Humphrey's 18.30 19.69 Realty ..... 2.13 2.20 2000

581 591 200

600

Frying Pan

200

We

UTILITIFA

Tram XD ..39.00 Star Ferry

134

C. Light (0)

14 10.10 1000

UTD

Meanwhile, there is something that we in the sterling area could do to help-though by itself i would offer only a partial solution.

We ought forthwith to adopt a policy of deliberate preferenco for the Canadian dollar. must of course continue to car

сап

to

as many US dollars as we can. But where

choice there is the and in

drive for fresh dollar coring

markets, it should be Government policy barriers.

everywhere 3. No chance of commodity in the sterling area to encourage agreements to keep up the

exportors

aim for the prices

Canadian of sterling goods in

market. Experience order to balance the US

price.

icc shows that such encouragement which programme support

ba very effective in direct- artificially forces up the world

ting trade. prices of dollar commodities.

The Canadian market is much In the light of this all of us.

hai sofer than the US market før including the Conacions, of

Commonwealth exporters. Over better face up to the fact that

fa hanging ne Damocles to ba

a dollar it there's

going gap for a very long time. Even aword of sudden, unpredictable if the sterling countries had no and selfish changes in the tariff.

Although in

economic in strict economic faults at all, we st!!!

and a US wouldn't be able to earn all terms a Canadian

be-dollar are interchangeable, there dollars the

necd we

won't can be no doubt that, in fact, cause the Unite States

if we all earned more Canadian let us.

dollars, we would buy more Whether we want to or not, Canadian goods in exchange, merely in order to survive, we This would help to bridge the have no choice but to encourage

that is open- gulf ugly economic the exchange of sterling goods

between

Canada and the amongst ourselves in order to rest of the Commonwealth. This save dollars. Tho United King, gulf is the greatest contemporary dom must do its best to export danger to the Commonwealth. ather Commonwealth We must wake up to it before

and con- is too late.

N

In

the

to

to

feels

countries machinery sumer goods that otherwise prospect. dollars. this

Not everyone in Spain

about

the means

:

have to

they would

buy

for

the United New York Sugar

Market

buy

Now York, Mar. 16. World No. 4 sugar futuros to- day closed one point lower to 2 paints higher with sales of 32

contracts.

· ELS

ituation,ments In

Mr Benson hinted at his press conference he would advise President

Eisenhower to veto any bill Congress might pass

session during this

to extend high price supports

commodities.

on

He was

asked whether Eisenhower would veto

form

Mr con- tinuation of the present manda-

1ory high supports. Mr Benson replied that he could not predict the

President's actions, but he The Vice-chairman and knew Mr Eisenhower felt very joint Managing Director of strongly that the rigid hign sup- the British General Electric ports should be discarded

lavour of flexible and lower Leslie Mr 16.99 Company,

8888

16.90

4000 y 10. 1000 @ 16.

12.00

500 16.

4000 to.

2. Light (N,

43 13.20 458 300

13.30

The beginning

13.

100 @ 20.30 180 @

Electric XD aig (35 TK XD ...30

of it is that

in

Gamage, just back from fupports. He added that another

of high extension

supports Hongkong, has been telling would be a very serious sot- London a story of a Chinese back" when one considered the existing and prospective sur- frying pan.

pluses.

Meanwhile, President Elsen - electric cookers have never beenhower has named Mr Clarence Francis, chairman of the Board good sellers in the East.

While other overseas markets of General Foods Corporation, for them were brisk, no one one of the large food distribution special con- companies, as a gave much thought to this.

sultant to direct a continuing But as conditions got tougher study of butter and other sur- in other markets, GEC begon 16.70 300 18.70 looking for the reason why

plus farm commodities-China rts ... 7.60

Mail Special. The

Chinese The answer? COTTONS

Textile Corp. 1,85

trying pan--the kwall-used all MISCELLANEOUS

Yangtze.... 0.00 120 @ 0.53 over the East, has a rounded

4.53bottom which is ideal for cook Yasmati 150 141 Allied Inv. 42735 4.72312,000 7 4.1oing over a bucket of charcoal, 1,000 4.10 but a dead loss on the flat hot-

plato of the electric cooker.

INDUSTRIALS

Coment XD 19.30 70.40 500 € tapo 9OTRES, ETC.

Dairy

Watson

27.00 1,000

72% 500

24.50

7.03

Singapore Rubber

Market

HOLLOWED OUT

CHICAGO GRAIN MARKET

which the kwaii nestles happily. | May

On his way to Hongkong, Mr July

Chicago, Mar. 16 Prices por bushel In cents;

Wheat, No. 2, red

The solution? GEC' room boys have hollowed

back-

Closing

designed

Apat hotplate, Inta Maren 2320 23944) «

Price

234567

23032-7

220-14-34

Sept.

227-27741

Corn, No. 2, yellow

Вера. Deo.

Hariny, spot

May

Singapore, Mar. 1. The market was steady and

silm und he watched closing level There *pped off at Singapore. Dec. above Saturday's with moderate trade enquiry pretty Mrs Lim Koon Tock, wife Spat and sellers reserved. Prices of the well known architect, pre-arch No. 1 rubber per Ib. April 64-34 paring a meal on the Brat of July

263-943 these made-to-fit cookers, 5434-85

And now Mr Gamage is sure 844-5432 63-8314 they have

Asian countries.

May

+

June No. 1 rubber per 1b. April No. 3 No. 4

Blanket crepe

pot rubber unbaled..... 5415-641

No. I pale crepe... United Press.

Corporation The corridor plan would al-of Americo sakd in 1932 that it construct * ready Bow Conata access to free deep

near Skagway happy aca points in Alaska, cx- smelting change for a supply of hydro- at an initial Investment of $20 however.

And in return to Canadian electric power and development million, subject

Communist propaganda Al-Kingdom must be ready to Yukon

New Zealand." plant's ters through despite the police from Australia, the

Pakistan, South Africa, India, Was vigilance.

and

the colonies com- The Communista sty?" "Every

that we could other In Washington, the corridor fank sent by the United States

wise got from the dollar aren. that more Spanish We must do this even if the proposal now appears to Have menna

higher; for, we received the support of Senator peasants and workers will be

price is a bit

Domestic. No.: 6 gugar futurez ! LONDON MARKET. Alaston has 0 number

London. Mar. 15. of Hugh Butler, a Nebrastin Recalled for military service,

simply cannot buy things from suitable deep sea ports in "ho publican, who is Chairman of

Canada and the US with dollars closed 1 to 8 points higher witt

The rubber market was very. "Every ship given by

sales of 100 contracis. Panhandle but is desperately the Influential Senate Interior United States to Spain

that we haven't got.

World futures were quiet and steady with No. 1 Rss spot in need of cheap power and Committee..

that more shermen will bo

DIGGING A GULF

Irregular while traders awaited quoted at 10 pence per 15. economic development, while

Senator taken from their work for the

further

tho Prices:

No. 1 spot truth. Let's not blink the

Settlement house · teres: Canada Navy,

Thore has got to be a long-

Trade buying bolstered the April consider the construc- should

*Spaniards should reallar term policy of discrimination by domestic contracts. In domestic stay... tion of a railway to Alaska and

is being War

the sterling

Commonwealth rows, dealers reported fairly June the paving of its part of the

April/June This must large, offerings of Cubsa, and July/Bent, Alaskan highway, the United red by the United States, against the dollar.

British and French imperialists moun discriminating against the duties free at 0.30 couts a pound, net/Dre States to pay part of the cost,

***! | against Russia.

In other Canadian dollar. 100. I that in return.

delivered. and suggested In part, at least, it has been the United States might grant 1 is no business of Spain, words the dollar digging & Future clesings were going on from the Ume when Canada one or more free ports | She should remain nouiral,,,; as gulf between Canada and Charist Russia had a formids in the Alaskan Panhandle,

sho has Urough the previous real of the Commonwealth, able echpite stretching up. ánd

-Mi* Con- This fills me with alarm.We down the horthern Amòrienn No ofhelat stand has yet been, two World Wars

must-do something about? muutsista. continent's Pacific coast, which taken onl the proposal by

But while some appear ime Unless we do, this octmomie muit was governed from a capital | Canadian ottelats, "but power-

1st in the end. Impair located at what is now the ful Canadian Industrial and pressed by sucks word of mouth must-

unity of the Panhandle

mining interests have indicated propaganda, the major

to d] their rupper).

there, will inot When Alaska passed from Russia to the United States for Public opinion, which is the sum of $7,200,000, : 14 did | oflens ahead of official coms, Lind little, to settle witho... boundary ment, appears to be growing în, trvour of the sorrider plab, discovery in bolly" Canada; and, and the developement of the China "MMK" ISTORIEN

ses-and transport.

This is no new problem.

the

that the future

WAP ANYWAY,'',

RM1" Special

of the Commonw neoromic corets, un

Continet NoSE (World)

息

future in many Barley Spas

Spot

-2541-94

120-102

484-4911

Soybeans, No. 2, yellow

好嗎

Bpot

3471

New York Cotton Prices

March

MAY

July

Bopt,

Nov.

4

New York, Mar, 15.

Closing Pricer

Spot

March

expired

May

10%-18

July

1-105

1812-18

Dec.

104-10

May

Judy

Jan/Kiar.

March April

Dorist

-- United - Press

Exchange Rates

114.48-48

5751 £34.00-09

“United Press.

London Foreign

Exchange

Hair. York

--Unlied ProM.

LONDON METAL

PRICES

London, Mar, 15. Tia, copper, lead and zinc were easier today. Prices closed as follows in sterling per long tonk 210 apik 190 buyers, 750 delleri,

0871

Coppermot 21

Land March 125,7%

Big March

NEW

YORK FUTURES

·New Yorky Mar,