1954-03-19 — Page 9

Important Witness in Rome's "Drug Orgy" Trial

THE CHINA MAIL, FRIDAY, MARCH 19, · 1954.

TRADE annal

COMMERCE SECTION

Beautiful Anna Caglio, lawyer's daughter, known as the "Black Swan" arrived at the law courts in Rome. She went into the witness box when Italy's most sensational trial in year

bulba when she began. Police escorted 23-year-old Anna through the flashing of camera entered the court building. The quesilon on which she gave evidence was: had attractive Wilma Montral really been drowned when her body was found on a beach, or-had drugs killed spreading false information likely her? In the dock was journalist, Blivano Muto, accused to disturb publle order. The charge arone out of an article in his magazine, in which he sug- Keated that Wilma had died of an overdose of drugs taken at a "wild party". Anna's early She said that she suspected that the son of the Foreign Minister, evidence shook the court. Attilio Plecloni, was somehow mixed up in Wilma's death. She alleged that her about Miccioni arose from a telephone conversation between "two good friends" that she had overheard. And she suspected that the Marchese Montagna also was somehow mixed up in the affair. There was a hush as Anna said that Muto's article had confirmed her suspiciosus

The trial continues.--Express Photo. about Wilma's death,

BRITISH OILMEN, YES! BUT :

suspicions

"Back-Street Empire

Builders"

Not Wanted In

Iran

Teheran, Mar. 18.

Although hostility to Britain and the West generally is still apparently widespread in Iran (judging from personal state- more and more individuals ments and newspaper comment) here are prepared to bury their grievances in order to get oil

money flowing into flowing again from Abadan-and nation's exchequer.

the

The belief that Iran herself could operate her oil industry in com- petition with world oil concerns in the West died long ago among better educated people here. Moreover, the cost of living in the towns, after two and a half years of an oil-less economy, has just about doubled.

But the physical return of some 400 or 500 foreigners, whether British, American, French or Dutch, to the refinery and oilfields is regarded here as certain to fan old flames of resentment and provide opposition and Communist groups with a chance to chant the old slogans about "foreign exploitation and interference."

This velihood

on the great oil industry built

up by British capital and brains between 1907 and 1951.

away.

admitted

This psychological problem is ably endises now that the re-among the British oil staff and oll technicians promised them a warm welcome at its most acute in the city of turn of foreign

Several of Abadun itself, the

return. largest oil and the re-opening of the re- on their Middle East and tawn

officials

at ay the

have SONS finery will mean the start of a thèse

and insist school in England in iran, whose long climb back to prosperity. second largest population of

that they will send other sons 200,000 same

Government when they come of school age. factor, people relies for

officials hope, will offset the im-

A few officials said that they pout of the foreigners' return.

to see American Although no one in Abadan would prefer

But knows, most people expect that experts come to Abudon. Since British oilmen evacuat- the returning ollmen will be a majority of those questioned in the summer of either solely British or possibly habit of dealing with the British ed Abadan

that for them the 1051 after fran nationalised the

mixture of British ond industry and saizod the plants, American.

Was so

engrained that they would and I too big a wrench the town's prosperity has ebbed What sort of welcome they

receive depends greatly on the to have to adapt themselves to idlom and different Government

and especially another officials have men themselves, continued to pay 28,000 Iranion on the attitude of the British. manners.

An iranian accountant oil workers their weekly wages studied

One English-educated Iranian, In Britain for

several although, since the refinery has

up the Iranian commented: "You have a proverb years, summed been working at only one view: "If British experts come have the devil you know than which says that it is better to output, of its peak

thoy should be 100 per cent there was a full day's work for British and not imitation pukka! the devil you do not know. We only a fraction of them,

sahibs, But although

"During my stay in England, been puld Inflation in Abadan 1 made many friends and 1 gor

the English

and has doubled the price of basic to

their essentially Brillah. It has foods and trebled the cost of ways, But unfortunately 80 squash courts and badminton ople I liked in courts, but no bowling alleys or serious many of the people B sugar. mattor in a country where ten-England, the Instant their ship baseball pitches. Thero aro drinking is so frequent that it docked Abadan, became billiard tables in the homes and

Into what we call officials play transformed is almost a vice.

bridge, but not Almost as bad as inflation, is back street empire-builders. poker, the boredom

frustration They put on aire and expected which grew up among workers to be treated like masters.

thirtieth

teu And

and

wage

have

ho

ค

who

sometimes feel like that about

11."

In

Abadan

ia

many ways,

Taxis plying in the streals and officials when It was Kwe want 100 per contare nearly all of British make.

who do not realised that without British; people gradually

The Interiors of the homes of the West's co-operation, Iran change when

they come abroad

executives are unchanged since would not be able to exploit but remain Brillah,'

the British left and contain and grand mud-Abadan todays everyone in mahogany furniture

Silver candlosticks adorn poil the dining tables, cocktails are based on British recipes. the shores of Iraq which eagerly clans

ticians during the nationalisation filled

caused by crisis, has simmered down.

or

her great oil resources.

Only 500 yards coloured water forming the The hate campaign against planos with family portraits on Shatt-El-Arab River separates "foreign exploiters and cheats" OP. the townsfolk of Abadan from stirred

Pred up back-alley

the

breach

by

Tho

UTILITIES IN

IN DEMAND

MARKET Company Reports Promote Some Activity

By A Special Correspondent

Utilities were in demand on the Hongkong Stock Exchange yesterday following a number of interesting reports delivered at Company annual meetings this week.

Share prices generally were firm and Banks featured in a good advance to $1,685 a rise of $45 on the week, attributable to the shortage of Bank scrip on the market. Banks are now yielding slightly under five per cent whereas utilities are giving about 6 per cent.

Electrics

Ori

not

of

How To Win Votes

Wedowee, Alabazzis,

Mar, 18,

The 10 political candi. dates in Randolph County have agreed an eno cam- paign compromise.

$2

They algned pledges yesterday not to palan funds, not to time Intoxicating beverages to gel votes, not to provide transportation to the polls, not to pay more than 10 any group Moliciting funde and not

to Bocuse each other of anworthy motives or make unfavour- able reflections on the character of the other candidates.United Press.

NEW YORK

STOCK

MARKET

ON HK

Chairman of Royal Bank of Canada Says

"Tax Cuts And Lower

Prices Will

Help Sustain Demand"

Montreal, Mar. 18.

The Canadian economy requires adjustment in areas and industries where existing or potential capacity is greater than demand at current prices, the President of the Royal Bank of Canada, Mr James Muir, told shareholders in his annual address.

"The boom which bogan with restrie- the removal of credit tions in May, 1952 is already for some sectors of the economy a thing of the past," Mr Mult said. In 1953 Canada

ex- BA pericneed n worsening in the terms of trade, and "the abund- ant stocks of wheat here, and in other whent exporting coun- tries are likely to depress still further the real terms on which

Canadu trades with the rest of

Singapore Rubber Market

The market

Singapore, Mar, 18.

opened steady and advanced on outside buying. C1080 the market Towards reacted slightly and buyers be-

came more cautious with sellers the world."

reserved. Prices: This type of situation might No. 1 rubber per lb. Apr. 0615-56}> May 6554-584% June 504-00?% reduc-i No. 1 rubber pet th. Apr. 65-68%

No. 3

Spot Rubber unbaled Blanket crepe. No. 1 pale creze

04-044

$314-15:4

047-85%

491%-80%)

8245-0415

United Press.

Business has been light, averaging about $1,100,000 on the week. The market "just seems to be bubbling away gently" as one broker put 11, with nothing to dis- turb the underlying firmness. Demand for shares is steady, but investors are choosing their stocks carefully. New York, Mar. 18.

Stocks moved up sharply Hongkong

believe there will were brokers active yesterday 013 turket be much interest in these shares in increased activity to- rumen following

Gen-umu there is a big loan in the day, reflecting Wall Street's be met, Mr Mulr said, by Inx the erat Meeting The shares offing. Speculators selling out optimism over outcome of reductions, or by price

this week must have been dla the House of Representations or by easter credit terms, on the morning use to $31 enil, but slipped back to $31 appointed with their profit in the afternoon.

len or Arteen cents o share tives vote on the tax bill. Since 1902 the emphasis of the No. 4

Industrial shares, featured by

Canadian Government had been These slight fucluations were which, after four cents broker-

on the last approach. caused apparently by

is hardly an exciting re-oils, aircrafts, motor, chemical mis- age.

and special issues, rose $1.79 on apprehension the part of turn.

But "d general expansion of There seems to be quite a bit average, G shade

consumer from their

credit outstanding Electrica some investors

that

cannot continue Agency of activity lately in local granite 25-year lop set on March 11.

Indefinitely; were disposing of the

Ralls, followeed suit, rising erried out by

and we have now apparently Rubber futures today closed 10 by Gibb Livingston bound for Borneo where Sheil

und and Hongkong Ltd. This idea

Shanghol 49 cents on average and utilities reuched the position where the to 20 points lower with sales of apparently

is slowing setting a new rate of expansion Bank (building new offices and gained 11 cents, from the Chairman's statement

4 contracts. quarters) cannot get high since Sept. 2, 1931.

down, and repayment by the

Prices caseck at ye

yesterday's unun meeting staff that

at "negotiations

In catching up with new were taking enough of it.

shares, from 1,740,000 yester. kans, place," on the company's future

11 Wits

fall the

for goods must biggest demond associations with Club Livings-

day. turnover of the week.

back to its normal level.

"We must depend more largely tonally quiet situation in the

methods

of spot market with factory buyers on the other two

unusually dominant. Prices: namely tax demand;

MAY Muir criticised the "In- geptember Olenn Martin,

Mr RKO

Επ The Canadian December Pictures, General Motors follow flexibility"

March economy which had prevented May retail

prices falling since 1981 despite a general fail in the cost of raw materials.

ton.

arse

Actually, a more reliable port circulating yesterday after- noon suggested that in termina- Hongkong ling the agreement, Electric might have to give Gibb Livingston a certain number of shares. This enure some slight disillusionment.

The

Q

announcement that Hong-

had secured kong Electrics Government coutrací to extend and improve

street lighting in

There have been heavy book Ings for corgo space for months

shoud,

TODAY'S SHARE PRICES

(By Our Correspondent)'

Business on

NEW YORK MARKET

New York, Mar. 18.

Volume increased to 2,020,000 pubile this means that the total liquidation and hedge scfling in

Avco Manufacturing featured in volume on blocks of 10,000.

12,000 and 15,000 shares. Steel,

Vulter,

Chrysler.

ed in the active list.

on scattered

face of a slow demand

Dealers reported: an excep-

US price reductions." | July

Consolidated

RAILS BETTER

Rail gains ranged to 2 points in Missouri-Kansus-Texas ferred.

pre-

Of the 1,196 Issues traded, 017 were higher on the day, only 277 lower.

Commentators sald confidence of House defeat of the De- mocratic motion to increse per- Ex- the Stock

amounted sonal income tax exemptions at:

the Colony was well received.

I saw an old balance sheet of date: the company yesterday,

Then 1908.

the Hongkong Electric had a capital of $800,000 and its assets

$172,339. change this morning were

Noon quota- the expense cf casing doublo There's been quite a change in to $1,084,984,40.

und tho the last 40 years. lasued capital

morning's taxation on dividends halped the

market. today is $35 million and current dealings: --

The NY Stock Exchange bond and fixed assels are at $63,- HARES DUYERS SELLERS SALES volume was $4,281,000.

The American Stock Exchange 1066 volume was 530,000 shares. B & 1890 Dow Jones Closing averages

527,500.

was

LIGITTS ACTIVE Telephones finished at $28.80, up 40 cents on Monday's ex- dividend price, The rise attributable to the favourable report of the company's activities The Chairman, Mr Just year. W. A. Stewart reported that a record number of new tele-.

number rece phone

installed services were during the financial year-4,685 direct exchanges and 1,883 ex- tensions. He also said that de- mand for services would not be fully, met this year.

new.

on

Q

China Lights were active and,

call alone, rose 20 cents on the on a turnover of more than 30,000 shares on the morning cal day and were up 70 cents the week (the "news" were also up 70 cents on the week).

sers believe the activity was Brokers due to news of the company's

line to the Ma On

On Shan Mine in the New Torritories.

China Lights are taking transmission off the main line between the Shing Munt Road and Tul Po over the hills and down to the sea opposite Ma On Shan.

Then they are laying a submarine cable across mine itself. the water to the Work is reported to be "well in hand" and the company hopes to have the supply available in three months' time.

fem Kowloon wheryos wero and Hotels and Lands, both ax- dividend, were quietly steady.

Intorest In Allied Investore appears to be fizzling out and

CHICAGO GRAIN

MARKET

Beptember

tions

WETC:

30 industrials

BANKS

HK Bank .. 1080 1080

Bast. Asin INSURANCES

Victor

109

870

03 008

360 B071

20 rulls

*

10 utilitica

*

dr socks

40 bonda

2001.13

100 70

Lombard Underwriter SHIPPING

Aala Nay. DOCKS, ETC.

0.00 7.00 500 61

1.10

K. Whort XD 69%

Dock

Provident

500 @ 70

100 or 70

21.20 500 or 31.20

Camin. future price index

INVISIBLE INSULATORS

20.10-20 *IB.95

10.96

19.95b

Fou00b

20.000

-United Press.

LONDON MARKET

London, Mar. 18. The

WO3 rubber

market quietly steady with No. 1 spot

He said high costs were due Res quoted af 18 7/16 penice per to the Insulation of Conadian lb. Prices; prices. This arose in two ways: No. 1 Res pot first there were business taxes,

April sales axes, excise

taxos,

* May customs duties. Second, there June were certain inviable Insulu- Aprit/June July/Supt. which

made Canndlan

Oct./Dec. tork"

to Jan/Mar prices even higher relative foreign prices than the disparity warranted by taxes, duty and ports: March costs of

transport.

* 10%-30%

Settlement house term:

вла

101-102

10%-15%

10-381

101-10 101-18

10%-50%

10-17%

General markets,

oil bayi.

Bri-

April May

"For example, a certain tish book that ectalis in the UK

for 28 (equal $3.02), sells for Mor, 18

300.10 $5.00 in New York and $7.50 In 10014 Toronto. A certain

03.08

100 01

104-30-7/10

10-5/16-16-7/10 10-5/10-105

-United Press.

British manufactured equipment New York Silk

In the UK at £41 retailing at 178.35 (equal $112) brings $219 in the US and $275 in Montreal. United Press.

the business "Those in

of

New York Sugar importing, and retail outlets for

Market (Old) XD 12.8042.00 2,500 or 10.00

.. 7.00

Wheelock LAND, ETC.

HK Hotel XD 9.15

HK Land XD M1⁄2

si Land Humphreys Really UTILITIES

8 1000 180

1000 7.90

0% 6000 930

60 200 CO 100 00

New York, Mar. 18.

Futures

New York, Mar. 18, Silk futures today closed 32 under to 44 cents a pound higher with their sales of 13 contracts, or 15,000

pounds.

in was represented

tend Imported

goods,

sul! these conditions to prices to the market."

Scattered profit-taking on tho Mr Muir criticised the World No. 4 sugar futures "vagaries of Customs procedure" advances supplied a trade de-

in exchanges,~; prices 3000 a 215 closed today one point lower to which made it difficult for an mand. A good part of the trade Importer to fix his advance. "Importing by the in- with dealers accredited sellers

positions, dividual is apparently regarded of August and buyers of forward by the authorities, and even by

Closing prices were: August sume of his fellow citizens, or a minor transgression; and as it was with the Biblical trans- December gressor, the way of the importer March is hard," he added,China Mall May Special.

1/4

18.30 18.80 2.102.171

28.20 28.40 200

P. Tram (0)

44

Star Terry 130

Trom XD

one point higher with sales of 316 contracts,

Domcstle No. 6 sugar futures one closed 3 points lower to 20.40 point higher with sales of 1,172 300 21.20 contracts. 100 * 29.20 World futures ruled quiet and

13 featureless in a routine trade. 10.40 Domestic futures sagged under 19:50 ifquidation and hedge selling on further reflection of the recent 103 @ 10% increase of 200,000 tons in the

C. Light (0) 16.40 1815 200

1000

1500 6 16,60

B000 1,45)

C. Light (N) 13.30 354% 2000@1240 import quotas. Future closings

Electric

XD 3135

3000 # 13.40 were

2000 13.40 Contract No. 4 (world) 10213 00 $335

Mas July Beptember October Innery March May

500 or 314 1000 9 335

312

374b 3,905

3.30

3.3tra

1.253

3.29 1

per lb. tch Open Interest 6,680 contracts.

·

}

Tel. XO

.28.90 229.20

July

Brot-[cersta

Cuba

1000

Contract No. 6

300

July

500 g 29.10

November

13,40

Boot-cente

per

b.

"NY, ex-duty),

INDUSTRIALS

Cement XD STORES, ETC.

Drity ...... 1.89 27.70 100 vs 27.70

COTTONS

700 0 21.00

20 201

May

Beptember

5.70

5.76

5.jan

5.50

Open Interest; 7.108 contract Unlled Press.

elle Corp. 1.04 7.80 5000 New York Cotton

Crawlord

MISCELLANEOUS

Yaumati

↓

/ Yanglate

23)

Chicago, Mar. 18. Closing prices por bushel în cents: Wheat, No. 2, red

duat Most of the town can speak and has Communist Tudeh Party and or understand English mnd Iran's oil shut-down

March 202KL) benefitted by

of some followers of Dr Mohammed; thousands go shower

three times 貔 wealth,

Mossadegh try to keep it going,} week to the luxurious Taj which looks as if it Further down, in the Porslan but the Government has taken cinema, Gulf, les Kuwait, another rich strong security measures against Had been transported bodily oil stalo

which has amassed unofficial propaganda...

from London, to see Brillah' and· American flims. staggering

from oll Woulth revenueswarith rufflelenit 10 buy every

adult a Cadillac if

Nearly voryone has some nailonal wealth were divided Britons' who have valted the thing good or bad to say about | goybeans, No. 2, yellow,

town recently have been treated the British in- Aludar” But the evenly

Comparing this with his own with friendliness and courtesy overriding impression, given to poor state, the Abadan cliizen] by 'rofinery officials and many a visitor is that the town in Teets that he lim Boon robbed, of the townsfolk and shop ready to stoke the refinery. And he often lays the blame keepers asked: "When are the | furnness |

•

Come Back Soon"

May

P

December

Corn, No. 2, yellow

Społ March May

Bapteinber December

for it is the victim who cotney Bellish coming back? We hope | Lanker's Book the noot vai "mi

first to mind--the foreigner.. it Will, be soon,"

towllest ensuNA -

On the other hand, even the 3 svaru, odíciále

· prob« interers Matarköld

Beht

March

May

September November

whistle and“ no one) Barley, would hold back! A beta LIGH; CHIP with | British had returned to helpude friends” China Mäll specia.

..... 137

Allied Inv.,4.00 4.10 1,000 € 4.07%

Prices

180 6.53 2000 4.00

Spot May July

New York, Mar. 18.

Closing Prices 2-BO

54.00

34.0an

London Foreign Exchange

October December March

May

October

1 b-bidi-traded.

4.01b

40045

-United PreM.

The Mercantile Bank of

India, Ltd.

has pleasure in announcing

the opening of its

Safe Deposit Vault

on

Monday, 22nd March, 1954.

33.660

United Press.

Exchange Rates

unomia), excha

Customers who have already

quirements will be

the Bank for their Keyi;

istered