1954-03-18 — Page 9

THE

CHINA MAIL, THURSDAY, MARCH 18, 1954.

What The

New Empress”” Ships Will Look Like

look

like. This is what the Canadian Pacific's two new 22,500-ton Empress Hiners will Together they have brought a 30 million dollar order to British shipyards. Mr A. C. MacDonald, Managing-director, Canadian Pacific Steunships Ltd., announced be had placed the order for the second ship with Vickera-Armairongs Ltd. The liner will carry 150 first class and 900 tourist passengers, and will have a service speed of 21 knots. The first of the two ships, now being built by the Fairfield Shipbuilding and Euginegring Co., at Govan, Glasgow, is to be named Empress of Britain, and will be ready for the Liverpool to Canada service in the early Spring of 1936. The vessel just ordered will be ready early in 1957.

ALL BECAUSE OF A NEW FILM:

France Springs To The Defence Of

Her "Under-Twenties"

Paris, Mar. 17.

Widespread discussion as to what kind of a generation the under-twenties in France today really are has arisen here film by a well-known following a lively controversy over a French producer, Andre Cayette.

A former barrister, M. Cayette has made a film about adolescent criminals of the middle classes, in which he preaches that if the children went wrong and became killers, it was the fault of their parents.

Crities are split wide open about this moral homily.

1112

and their youngsters.

The

share 去

گھنا

H

the

HERCE SECTION

"NO MÁGIC FORMULA"

SHIPBUILDERS' WAGE DISPUTE

UNSOLVED

Unions Reject

Offer Of 5 p.c. Increase

London, Mar, 17.

of Engineering and The Confederation Shipbuilding today rejected a Government- recommended offer to increase wage rates by five per cent. The Confederation has summoned union leaders to a meeting next week to consider strike action in an attempt to force employers to meet their demands for a 15 per cent increase.

This article, written by an industrial corres- pondent, reviews the recent history of the dispute: If anyone was foolish enough to hope that the Courts of Enquiry on the shipbuilding and engineering wage disputes would produce some magic formula to solve the fundamental differ- ences, he will have been disappointed.

Eight-Year Old || Awarded $1,323 Damages

Burbank, California,

Mar, 17. John Chase was awarded 41.323 damages in the Supreme Court yesterday for injuries inflicted by Robert Ritter in a iruo accident two years ago.

John is eight, Robert 11 and the accident involved a tricycle and a bleyote.=== United Press,

Financial Observers Say:

J

Anglo-Iranian's Rise To £10 Level Is "Entirely Justified"

For the first time since 1948 Anglo-Iranian shares have risen above £10. In the meantime they had, in 1951, been under £5, and even as recently as a year ago they were no better than

HONGKONG 55%-

STOCK EXCHANGE

Their subsequent improvement is entirely logical, London financial observers believe. Quite apart from the fundamental change in the Persian position, the company has enormous reserves, and the 1952 dividend was very conservative. The 1953 results are due next May.

The technical representatives | nature of the compensation are of Anglo-Iranian and seven still to be settled. This is a other leading oil companies, separate Issue from that of have now returned | British, American and French, future operations, but the two trom thele can easily

dovetailed to- tour of Inspection of Abadon gether, and the Persian oll-field.

be

(From Our Correspondent)

Business done on the Stock What the court has done is to indicate Exchange this morning amounted to $938,024.40. Noon modestly its view on this particular wage claim, quotations and the morning's examined in relation to wage levels generally in dealings:- the UK, and to make some useful comments and SHARES BUYERS SELLERS BALES in the property than had been Anglo-Iranian shares remain a one extremely useful suggestion on the general BANKS economic problem of wage claims.

ItK Bank

200

Eat Arlo

168

The suggestion is the creation of "an authorita- tive and impartial body" to consider the wider problems

"Such

20 movement, if con- involved among them the

tinued. and

particularly Inflationary effect on the accelerated, could

conceivably national economy, and the undermine our whole economy'

The courts said. "And there is upparently being established something very like an annual

effect on export prices, of. the general movement of INSURANCES wages, costs and prices.

It is understood they found The upshot is that, even at much less sign of deterioration the current price of £104,

The

Investment. feared in London. Apart from promising SQIC running-down of stores current yield, based on the 1952 100 and transport,"

of 35 per cent., is everything was distribution 1000 in reasonably good shape.

under 3 per cent., so that The result is that it may be future prospects possible to restart everything at an earlier date and at less cost)

Union

835

if

DOCKS, ETC.

K. Whart Dock Provident 10

XD

Wheelock

00 73

21 21.10 304 12.70 12.80 000 2500 T.00 $ 200 8

Another Uranium cycle of wege claims process

Mine

which must Buroly tend accelerate the movement.'

into this category where before For South Africa on wages

Housing Shortage

workers

One big political party, the presson that the recrint of 1954 | 25 per cent of all divorces fell

Popular Republicans, looks better, bigger and mor Catholic

did those of the war, only 13 per cent of all Government to belligerent than even asked the

divomes were among the young exlarilish

censorship to twenty years ago,

vital statistics

married couples. of the The parvent Alms of this kind from

They called it country being shown.

out this hopeful | bear parents picture thet both on French

French social

and Outstanding

the statisticians facts urc

agree that this is hax controversy

drawn i gent mereuse in the number of almost exclusively due to the attention to the children who murringes and, mure umpestant uppalling shortage of housing were mostly too young to still,

DIR the

rise

accommodation. understand

in the bath-rate since the war.

The vigorous housing cam- buntiantou uf the Oerman

Thew were 313,000 marriages paign now being undertaken, it cccupation, the black markets

In France 1952

rectify this compared hope:!, will which it forced on France and

There is situation. of moral with 177,000 in 1940. the general jousening

Trend for i at the present time

Incidentally, the divorce rate pripite which followed the

the birth level to decline some- varies considerably according to <ble standard morality the

But this is due be the religious geography of Teapo

when i what again of the occupation

vie Franen. It is highest in Paris, payahing was "fair play" against reaching

Marseilles the age of marriage Riviera,

and the the censing enemy.

between Paris observers of French at the present time are those provinces lying Seasoned hfe are usually impressed with her in the low birth-rate years the which followed itler's accession 1933. Then the ery to power in

"What is the

of the good uf was! having children since there will dominantly Catholic son be another German war?" The controversy around

There were

were 820,000 births in Cayette Him coincides with a 1952 compared with only 399,000 bad case of adolescent crime in

and today 1940, and izr

in France which a youth killed a police- 12,980,537 married

wounded two other 120 al couples have 8,522,000 children.

persons.

But this is sheer coincidence. Another sign of a more rigid

the decline in the morality and a holding fest to M. Paul Gerin, leader writer of "Paris-Presse”. healthy values the number

the excellent quality of young today.

Th

that

Fi

the Fact

is general agreement are hard-working. serious and ambitious. They are less interested in politics than their parents and

the sliure anti-Paritarmentarsen ung their elders.

sprending

University professors report that young students concentrate harter on learning their future professions und are determined In establish families and get on parents 111 life, where their were often more seduced by the pursuit of ideals and ideas.

Bigger and Better In

SO

London, Mar. 17.

to

The specific recommendation in the ahlphuilding and Engineering Industries-un

lierense in the region of one- third of the 15 per cent de-

has

Africa is likely to have at lenst uranium-producing more

Que

But

both

LAND, ETC

HK Hotel

XD

1005

21.29

than had previously seemed likely.

have to some

extent been discounted.

discussions NEW YORK

The preliminary should be nearly at an end, and the next move will be

for co- 12.30 presentatives of these sight oli 12.70 companies to go to Teheran and

make

to the Iranion

proposals Government.

theme, in

The

Ka

agreed, lght companies will then form 9.16 a consortium for the operation

9.10 9.15 500 0.13

IIK Land XD

X F... 50t

S'hat Lond Humphreys 10.40 Really

In the near future Southmanded by the labour unions---- not yet been accepted by minc. In a circular issued in either side. London and Johannesburg last

employers and week. Vaat Reels Exploration unions agreed to the court's and Mining Company announced suggestion that wage negotiations UTILITIES It had made application both should be re-opened, and they of the for a gold-mining lease and for accepted the Andings approval as uranium producer, Court of Enquiry as a basis for

discussion.

The

details

given

in the

The view of the employers remalas that a wage increase in present conditions is unjustified, 1 it is understood.

UNPLEASANT EFFECT

on

eircular leave little doubt that both applications are likely to be granted.

The Company's consulting the circular sald, con- engineers, sider that the gold and uranium and the English channel.

They contend even a 5 per cent values obtained in underground centre of It is lowest, in the cen

increase could have In Brittany and development and in boreholes the country.

pleasant effect on the already Vendre and other pre-justify the applications.

and

of the declining order-books Developing

Company shipbuilding the holic areas.

Industry. Total to cost not cost gold is estimated

to the Industry, which more than 1 million. Of this,

workers, about £32 million is to be employs about 210.000

might be about raised at this stage by an issue wear.

The uranium plant would be financed by official

newspaper

the

of shares.

said

is

Taking annual

Brilish

£5 million

completions in at last your's|

gross tons. on additional L4 per gross ton

Tram XD .. 28.10 Star Ferry

1000

1000

03

100

8

1.34

Ves 1siziisi

11.10

322 £888883E

of the oft-nek and refinery, and

nil, marketing the

The

for

exact share of each company In

STOCK

MARKET

New York, Mar. 17.

The stock market re-

the scheme is still to be settled. celved encouragement today

Дам

the

return of Persian oll when leading New York

to the world's markets will be banke reduced their com-

gradual, it should seriously

out of balance the mercial borrowing rate.

2.17 500 2.15 present state of

1.15 demand.

134

2000

500 28.20 ( Light (0) 16.30 100 1000 #7 18.30

0300 10.30

1300 10,30

300 10.30

5000 40

1800 10.40

2000 | 10,40

6000 er 13.30

2500 13.36

1000 or 13,40

Light IN) 19.30 13.50 1000 13.207

2000 13.40 000 or 513 1300 3116

500 + 31.15

300 or 31.74

un-

Electric XD. 0114

Telephone

20.70

L

100 20,60 1000 20.80

INDUSTRIALS

Cement XD..

STORES, ETC.

Dalry

Watson

10.40

..... 27.00 27.00 200

1815 10.20 Fits 7.00 Kwang Sanst

Hong

$17,70

556 148

Texille Corp. 7.00 7.70 1000 / 7,69 BOGD + 2,63 500 G 7.03 2000 7.65

MISCELLANEOUS

Yaumati Allied

British yards Joans.

London #gure of 1,250,000 Mining experts

other South this would mean that three African mines,

in addition to cost of about of divorces. In summed up the view that most

Vaal Reefs, might Boon be completed. 1949, there was one divorce for observers would accept when he

shipowners - and wrote:

designated as uranium producers. British shipbuildera too-will be COTTONS every 8.6 marriages. In 1951.

to one this rate had declined

"The present

-Reuter. generation of

thinking of the additional is showing itself divorce for every 0,49 marriages, under twenty

advantage Riven to foreign as mure positive than imagina- 1952 to one divorce for

yards, and also of the recent tive. It has a taste for success every 101 marriages.

statement by the Chairman of It is a strong and comfort.

the P & O Lines, Sir William generation which perhaps knows

Currie, that he could have D better than its predecessor what

vessel built for 10 per cent less It wants". And, he adds, since

a UK London, Mar, 17. in a foreign yard than in a

was without taking Thal WES

very yard. steady in the afternoon session. into account any wage increase. booked orders for Spot was marked up 0 sterling

GRT Mall to £733% and three-month

to £6834.

pleased with the Officers are quality, both physical and us- On the other hand, the divorce tellectual, of French youth doing rate among people married for its military service, and many less than four years has recently

observČTK

the im- bren on the increase,

olde

shore

In 1952, he nim asks us to blame the

The Mercantile Bank of

India, Ltd.

has pleasure in announcing

the opening of its

Safe Deposit Vault

on

parents

for the

child-külers: "After all, whom have we to thank for those children who do

China not kill?" Special.

Poland Plans To Import More Consumer Goods

Poland

and

London, Mar. 17. intends to import this year more consumer goods and less industrial machinery equipment, the Foreign Trade Minister, Mr Konstantin Dombrowski, announced at the Congress in Communist Party

to PAP, Warsaw, according to Polish nows agency, in a mes- sage received in London today.

at the

the

London Metal Market

The tin market

UK

yards

only

compar

year,

100

not throw

supply

and

Prices, lower for most of the

It is agreed in principle that seseion, picked up near the close after Guaranty Trust Company Anglo-Iraplan is to receive com-

announced the reduction from pensation, but the

amount and 3% to 3 per cent in ita borrowing

rate in line with the "current policy of the Federal Reserve

Singapore Rubber Board of easing the money mar-

Market

Singapore. Mar. 17.. The rubber market steadied slightly on trade demand. Future

closings were:

No. 1 rubber per 1b. April 65-55%

May

Judo

No. 1 rubber per tb, April 34-54 No. 3 rubber ner th. April

ket generally."

The news lent an extra pusti to a rally already in progress under leadership of acel and rail stocks. All major groups closed higher, with ralle showing the biggest percentage gain in their average.

Activity picked up sharply as prices advanced and volume for the day amounted to 1,740,000

No, rubber per jb. April 6314-5315 | shares, compared with 1,840,000

Spol rubber unhaled

Blanket crepe

No. 1 crepe, pale

541-50

401-491

112-04 -Undled Press,

NEW YORK MARKET

shares yesterday.

Demand for steel shares, was stimulated when Iron Age, the Industry's mouthpiece, sold be- steel companies

only their most off- Rubber futures today closed clent equipment on present ro- 10 points higher with duced schedules, first quarter

New York, Mar. 17.

14 to sales of 45 contracts.

cause

operating

were

reports might be better than Persistent buying credited to some people anticipated", leading dealers" Interests kept Bethlehem improved 1% points prices on an up-grade. Offer- to $55%; Youngstown Sheet and ings came from scattered sources, Tube a point to $40% US with

dealers figuring Steel 1⁄4 to 341%, the latter in some

better sale than active turnover. futures as a

Invest ..4.07 4.125. 1000 4.10 the outside market.

Spot No. 1 Rss were quoted at 20%

Olla had

gains ranging to cents. Most of the 7 points In Sonboard.. interest WDS in remills, with Aircrafts came in for their sales reported on share of demand. Bell, Lock- three ambers for June at 18% heed and North American gain-

Future closings:

with 1,200,000 in 1952 MP Wants Better fr

and 4,150,000 in 1981, and over.

of 250,000 GRT of previous orders Price For Rubber cents a pound, delivered basis. ed around, a point:

In

Turnvoer

45 was

tons which 16 tons were for cash were cancelled last

year. in the sales.

light of

of all this, the court's statement that the decline in the recent orders and cancellations arc a warning

Closing prices in sterling per now long ton:

Spol

3-months

London, Mar. 17.

Mr Cyril Osborne, Conserva- ve meraber, asked in the House

Government was doing to secure

7321 huyers "that it would be imprudent to of Commons today what the

sallers goora" can hardly be called 6021% buyers over-coloured. 004 sellera

735

LEAD AND ZINC

London, Mar. 17- Lead, zinc and copper mor- in the kels were very steady

closed afternoon. Prices

In sterling

as long lon per follows:

Monday, 22nd March, 1954. Major change in the Import Copper spoi

Customers who have already registered their requirements will be notified when to call at the Bank for their Keys.

the

programme is to increase wool purchases by 40

per agency said. cotton, raw bldos and tobacco

But of

are also considerably land was

The Minister said Foland?

10ady to develop

trado: relations

Load March

CHICAGO GRAIN APRICES

buyer

235 March 230 (1)

Chicago, Mar, 17, Prices per bushel în cente:

Cloring Pricen Whest, No. 2, red sellers Spot

2331ān

May

DO

July

·June Zinc March

8495

Бер!.

T3

Dec.

June

13

United Press.

Spot March

|Bept;

the Jocs cort

with all countries, but the Exchange Rates

of trade with the West

tooded matory and

on the abandonment

restric Businak was done tive practices," KM SON/TORY unofficexchange

morning at the followin are interested only in UAS (ATE) AN normal trade relations or the starting EKPITIG principle of full equality or indonesing rublái qu

Kingapore (Broke)

lo saldalitor.i

a better price for rubber,

May

July

Sopl

Dec

Marchi

*20.30 20.10

2010

20.10

20.10 --United Press. LONDON MARKET

London, Mar. 17. The rubber market was firm

Before the war, he, sald rubber was about double the price of cotton. Today United with No. 1 Rss spot quoted at States cotton was 38 pence per 18 5/16 pance, per lb. Prices: pound and rubber only 18 No. 1 Tas spot 40%-40% a pound.

Bettlement hamse termi April

The prospority of important May June parts of the Colonist Empire: April/June depended on a fair price being General markets, ciź basis, ports: obtained for rubber, ho sold April

March

May

for

The Under-Seerciary Commonwealth Relations, Mr

Corm, No. 3, Yellow. 1814 John Foster, replied; since

1939 cheapi substitutes for natural. rubber. have ‚born: developed and no efforts of the Colonial Secretary could restore theproware price relationship between rubber and cotton, c).

Merch

China

on

explained in reply to Osborne question the steps bel

165/10.10/7/18 Joited Pres.

New York Cotton Prices

New York, Mar. 17.

· 22.00.

Gains in the rails ranged to 11⁄2 points each in Santa Fe and Great Northern, preferred.

of 1,173 issues traded, 498 were higher, 883 lower.

The NY Stock Exchange bond volume was $3,242,800.

The American Stock Exchange volume was 480,000 shares. Dow Jones' closing averages were:

Mar, 17

30 inntries 50 raž

16 uništies

65 stocks

40 botula

Comm, future price index

London' Foreign Exchange

New York