1954-03-30 — Page 9

Welcome For Mr. Lyttelton

THE CHINA MAIL, TUESDAY, MARCH 80, 1954.

TRADE

COMMERCE SECTION

Page

Colourfully dressed native dancers perform for the Colonial

Secretary, Mr

Oliver Lyitation (44 right, hand on hip) in honour of his visit to Kilul, a remote township in the heart of the Wakamba country of Kenya.

tary.

The Governor of Kenya, Sir Evelyn Baring stands to the left of the Colonial Secro-

Mr Lyttelton made the visit by air, immediately after he had announced his proposala

for constitutional and administrative changes.---Reuterphoto,

Spain Threatens A Labour

Boycott of "The Rock"

Madrid, Mar. 29.

Queen Elizabeth's forthcoming visit to Cibraltar continues to be a major issue in Spain. Some newspapers suggest the Cibraltar frontier should be closed to Spanish nationals during the Queen's stay, from May 10 to 11.

Others go even further and suggest that the frontier, once closed on May 10, should not be re-opened again.

This would mean that the 12,000 Spaniards who live in the small Spanish town of La Linea, but work in Gibraltar, would have to be transferred, with their families, to other parts of Spain where work was available.

It would mean, too, evacuating į habitants, who would be left

80.000 people from the almust without trade. slums and

some

overcrowded houses of La Linea at a est estimated

3,000 million at

pesetas

(£27,000,000 sterling),

But, the elrefes who advocate this plan argue it would cause Britain on other parts of the Commonwealth the shopkeeping selt of Gibraltar's 25.000 in

say,

Workers,

they

would have to be brought from Britain for the dockyards. They would have in be prepared to live cooped up on the two square mies of "The Rock" and woult to have all their food have chipped out from Britain,

The Fading Dream Of

Mauritius

London, Mar. 29.

Britain has shelved, for the moment, her next colonial problem--Mauritius, in the Indian Ocean, The Hindu plantation workers who have wrested power from the French estate are asking for "greater political self-expression.” They want to send a delegation to London.

The Colonial Secretary, Mr members Oliver Lyttelton, has, however, Council. refused to receive them, on the grounds that they have not been spccille enough.

7

of

owner's

Still others, more optimistic,

the think

will Queen's visk eventually be cancelled on some pretext or other and that General Franco's offer of 195l to lease the Gibraltar naval base to Britain will provide the basis for eventual agreemtut,

General Franco bunself has intervened In the spate of Illera- ture published recently about Gibraltar with three articles which have been published by almost

in every newspaper Spolu and broadcast by all wireless stations.

Under

the

pen- name

"Mucuulay," General Franco wrote: "I think it unnecessary to make it clear that there is no question of the people of Spain not wishing to show to the British sovereign the respect which she and consideration merits, both for her personal virtues and for the high rank

she holds.

"But the British people forget that Gibraltar is an open sore in the body of the Spanish nation and that to touch it causes deep

Legislative pain. the

■

Protest Unlikely Sir Hilary Blood, Chen Governor, availed himself of

"In Gibraltar, the Queen will one of the "checks and balances" vertically of British Colonial Government. see a strange population com- by race and horizontally by class. He chose most of his twelve posed In an area of miles, she is said to have moremen

Mauritius is split

of thousands

GERMANY: : THIRD BIGGEST CAR

PRODUCER 47 p.c. Increase In Output In January-February

With an output of 95,000 units during the fac- January-February period the German car tories have turned out 47 per cent more units than during the corresponding period of last year. For passenger cars the rise was 53 per cent, the Frankfurt correspondent of the London "Financial Times" says.

Germany is now the third largest producer

of motor-cars in the, world. The rise in the out- put of passenger cars has been as follows:-

1954 1953

1952,

January February`

35,700 .36,600 units 24,677 22,561 23,107 29,938

1

Output in February was the second largest

on record and very near the peak figure of 36,950 passenger cars reached last September.

Last year's exports amounted are bought by firms and cor- to slightly over £100m. This purations. year the German car industry With the new income-tax law hopts to do even betler, for expense accounts will be pared three reasons.

down and the ratio of privately

Fin prices arc ruthlessly owned cars will probably be- slashed wherever required. Income much higher. This will Austria, which has become an mean a shift to a cheaper and Interesting market sincu the more economic cor. It may O.E.E.C, imposed liberalisation, also mean now conditions in the the Volkswagen works cut their second-hand car market. price in Vienna from 8,708 10 7.250 marks."

macks.

the

Lorties over three. tons freight and trailers have

of

not

been sharing tho German

to

Secondly,

new Outicls are being opened. The first: Valks-

motor-car boom. The manu- wagen cars have been shipped facture of trailers han

ceased to Australia recently under the almost entirely and output of 3,000 unit import licence granted heavy lorries has been curtailed, to the works Wolfsburg

manufacturers waiting for the Thirdly

network of new regulations expectod rssembly plants abroad is being restrict long-haul road transport steadily expanded, About 85 in favour of the railway system. As far as passenger cars are per cent of the Volkswagen ex- ports to Australia will be concerned, however, factory ssembled in Melbourne, In yards in Germany in the early Belgium A Volkswagen as-spring of 1854 are almost empty

plant with target of stocks. capacity of

W:38 cara 18,000 opened a few days ago.

Daimler Benz is reported have concluded a contract with the Indian Tain Locomotive und the Engineering Company for jini telling up of assembly

Singapore, Mar. 29. The Borgward plents in India,

rubber market Was plant

discussing

a slightly steadier on moderate similar venture in Indonesia for support of trade with some Leveral months now.

sellers reserved. Prices; Under the new policy of the No. 1 rubber per ib. Apri 50-061% Federal Government, which Is

May June dis.. to encourage rather than

Na. 2 rubber per lb. April courage capital

exports, such No. rubber der ib. Apri plans are easier to carry out No, rubber per lb. Apru than before.

Spot rubber unbaled Blanket grape

has

been

to

PROGRESS IN EXPORTS Leaving out France, exports of passenger cars to Germany's neighbouring countries have developed as follows:

Belgium Switzerland Sweden

1953 1902 Units

Unis 20,000 20,000

Singapore Rubber Market

The

1

No. pafe crepe

Need To Expand

Reduced Shipments To Hongkong, But

Rubber Exports Japan Now Biggest

Singapore, Mar. 2) The Chairman of the Singapore Chamber of Commerce' Rubber Asso-

cation, Mr G.. Salmond, told its annual meeting

today he hoped the palitionl #fiuation In the East would improve suffi- elently soon to justify re- sumption of the rubber trade with Communist

Chinn

Mr Salmond sald that United States policy do- minated the short-term

rubber scene.'

Ele

term

suid: ""In the lang the best estimates were based on normal progressive consumption and maximum output of

rubber

prodnets.

all

"The arguments for the necessity of maintaining replanting programmes are overwhelming.

"This

raises the ques- tion of finance, but it is alicult to see where ibis la to come from at present prices and in the present state of Government fin- ance and of proceeds to the industry."

Mr Salmond said he did not wish to make fore. cakta but there were grounds for feeling that, assuming the present mild economic recession In America did not become a serious one, they had been the worst of it--Router.

HONGKONG

STOCK EXCHANGE

(From Our Correspondent)

Exporter Of Cotton Piece

Goods

London.

Japan displaced the United States as the world's biggest exporter of cotton piece goods Just year.

The United Kingdom, whose exports were virtually unchanged, moved up into second place, and India, with a moderate increase, came third.

The United States, whose ex-million vards in 1032 to 531% porta fell sharply, dropped from million yards last year. first to fourth place.

A feature of the final quarter's Western

shipments Tho

was the consider- European' able quantity countries as a whole lost ground African markets.

taken by the in 1953,

Deliveries 10. British West Africa expanded

·

Revealing this the

and exports to East British sharply, Colton Board says the fifteen por

Africa increased yet again. cent Increase in world exports

to

British exports to the latter

of cutton picce goods between market, the Cotton Board says, the third and fourth quarters of the ban on the importation of should continue to benefit from lost year was barely sufficient to bring the total

for the whole from Japan, and would no doubt all hit g fmw types of cloth year up to even the low 1052 level. A considerable change be at an even greater rate were It not to the shipping difficultles therefore took place in the re- lative shares of the main ex-

Mombasa. Indonesia porting countries..

was colly Japan's best customer for cotton and Commenting on the immediate rayon plece goods last year. But outlook for the British cotion Japan also sold more to Slam industry, the Cotton Board says, ther second largest market), the signs point to a continuing and British West Africa. Japanese Burma Australia, South Africa

availability of labour.

United

the

upward trend of output. The limiting factor will not be lack exports to Hongkong and

on the other of demand, as order books are still lengthening, but the ability hand, were

harply reduced." to produce and, above all, the Since the end of the

your negotiations with the Pakistan Government hove resulted in Though total U.K. exports of contracts being booked for cotton piece goods remained | Japanese cloth, so shipments to virtually unchanged last year, this market, which amounted to they consisted to a considerably less than one million yards in greater extent of cloth woven 1953, wll soon be swelling the in Lancashire.

total volume of Japanese exports.

Foreign plece goods processed Business on the Stock Ex- in the United Kingdom and re- change this morning amounted to exported-chiefly to the Colonies | $497,040.00. Noen quotations and-dropped sharply from 88% the morning's dealings:

SITARES DUYERA SELLERS SALES

BANKS

HK Bank... 1000 INSURANCES

Unlun Underwriters Lombard

DOCKS, ETC.

870

42 @ 070

730

5916 2015

50-50 5614-501% 0536-5546

04-8414

K. Wharf XD

ch

71

Dock HD

10

S'hal Dock. 1.35 Wheelock

.. 0.03 0.10 2000 27 0.10

ALL-56

BIL-8215 | LAND, ETC.

-United Press. NEW YORK MARKET

Now York, Mar. 29. Rubber futures today closed 10 to 30 points higher with sales of 136 contracts.

The spot market ruled quiet 19,500 11,740 with No. 1 Res indicated at 20 1800 18,600

cents a pound. Future closings 0,000 4,000 were:

Ifalland

14,300

Denmark

13,300

Austria.....

4.000

Low German export

can

1,700

pricing

May

July

Sept.

Dec.

March

May

LONDON MARKET

NOTICE

The following advertisement has appeared in United Kingdom papers;...

NEW YORK MINISTRY OF TRANSFORT

STOCK

MARKET

AND CIVIL AVIATION

SHIP FOR SALE

1. The Ministry of Transport and Civil Aviation invites offers for the purchase from bin of the undermentioned ship as New York, Mar. 29.. lying" at Hong Kong after Metal stocks, aircraft, removal of certain Naval equip oil and special issues fea- ment and stores. If purchased HK Hotel 0.10 0.23 200 & 0.20 tured in a higher, moder-ment will not be included in for scrap, certain other equip- HK Land .. 0135

2001 ately active stock market the sale and will be removed

today.

before delivery to purchaser.

100 62

10.30

S'hal Land..

1.30 Humphreys Really .... 2.10 2.15 1000 2.35 UTILITIES

Tram XD

Star Ferry

ftail shares showed the only loss among the major groups.

2. Offers for this ship will be considered from any-person and should be made in writing. to the Secretary, Ministry of and Civil Aviation, Transport

Metal shares were in good ... 20.70 28.90 200 6 28.00

demand as prices of lead, and *** 100- 28.00 130 132 100 112 C. Light (0) 10.70 10.00 000 is 16,80

in B29, 10: 3620

C. Light (N) 13.70 13.90 633 13.10

tion

the

zinc moved up and as legisle-Room 4017, Berkeley Squaro

House, London, W.1. Envelopes ! was introduced U.S. Senate designed to protect to purchase" and should reach should be clearly marked "offer the domestic mining Industry the Ministry on or before 16th

1000 15.80;

by Imposing import restrictions on lead and zinc.

St.

Joseph

American

Smelting,

Metals

20.70

20.50

20.03

20.73

20,75

20,75

United Press.

1000 e 13.80 800 & 13.20

Electric

........ 314

20

300 6 3134

314%

अग्र

Telephone

INDUSTRIALS

Cement... 17,90- Metal Indust. STORES, ETC.

Dalry

20 20.40

230

WWW.27.60

Watson

20 1500. #7.00 DOU or 21.00 18,40 740

from

is assisted by two factors; the 3% per cent expert refund and the 3

cent-

export tox They allowance,

may not be ull decisive in a seller's market

London, Mar. 20. but they

eusily tip the

The rubber market was very, scales when competition is be-

Rss spoi steady with No. 1 com coming increasingly fierce,

With an export ratio of 3s quoted at 18-9/10 pence per ib.

Prices: home per cent proceeds from

Bpat No. 1 Rs

101-1016 Metropolitan aily 120 square nominated members from among functionaries and their familles, make up for losses abroad. The May

employees

market sales can be used Settlement houre termi colour and caste tensions than} Labour Party including Ave and some hundreds of Jews, Daimler Benz works recently July/Sept.

about reduced In any other British territory. Frenchmen and two Moslems.

their prices by 4 per cent. Other factories April

a moderate may follow, and overal

rall reduction of Prices June Spread over the spring and summer months is expected by motor-car dealers.

whose families have

who are opposed

to the

Indians,

of

and

of

L

the

Oct./Dec.

161-10 17-1714 1712-1744 General markow, elf basin ports:

-10-9/10-15-1171o: May

10-10 10-11/10-70% -United Press.

New York Sugar Market

April, 1954.

3. "MAINE" R.N. Hosplial Lead, Butte Ship of about 7516.G.R.T. 4205 Copper, Inspiration Copper, N.RT. Length 429,8'. Breadth

Reynolds 52.2. Built 1925 by Ansaldo, rose a point or more. San Georgio. Engines

by Cerro de Fasco gained nearly 2 Ansaldo, Sampierdarena.

196

and Kennecolt

200 2.10 points. Anaconda Copper rose steam turbines D.R. geared to point. 2 shafts, watertube bollers. The last two stand to benefit and 2 single boilers. H.P. 8300.

the U.S. Government's Mar. Scagoing speed 13 knots. decision

to purchase 100,000 tons of Chileán Copper.

Aircrafts, where proft-taking Textile Corp. 7.00 7.05 800 m 7:05 touched oft last week's selling

MISCELLANEOVË."

in the general market, continued :to feature in recovery. Boeing

COTTONS.

Yangisze

Your 400 0.70 2000 6.65 roso 254 points.

200 mi 135 500 136 300 * 136 Allied Invest 4.05 4.075 500 d 4.015

Ship is under the care of the Commodore-in-Charge, Hong Kong, to whom applications to faspect should; bu addressed,

4. Further particulars and copies of the form of purchase agretment can be obtained from the Ministry of Transport and RAIL LOSSES SMALL-

Civil - Aviallos, Room 4019, ent Olla continued to, feature, with the above address. (Telephone gains, ranging to 2 points in Now Mayfair 0604, Extension Texas Pacific Land Trust.

2380),

exiled or refiegade Spaniards, Maltese, Cypriots, in Behind the move to send a The Hindus angrily profested consideration part smugglers. mission to Lendon is the Hindu-that the verdict of the people dominated Labour Party which, was being "set aside."

"If she looks oul beyond Gibraltar, she will see, in La In the widened franchise of the If the Hindus were in the Linea, in many cases, miserable first "popular" elections in 1948, majority in

delegation any

The price of the Volkswagen suddenly ended the political re- coming to London, they would dwellings of the 12,000 families gime of the French "aristocracy," be sure to csk for the abolition of the workers who up to the in Brussels is slightly below the

run the of the literacy qualification, the present have kept the activities Austin A30 and very consider since Britain took only, barrier preventing further Gibraltar functioning.".

of the town and port

New York, Mar. 20. ably below sugar island

Austin A40. It from Napolton.

World No. 4 sular futures | large numbers of their race

Even in Munich, where trang- from The elected majority in the veting under universal suffrage. No one can foretell what will port costs are somewhat dif-closed today 2 points lower to-1 Legislative Council changed They would also be likely to happen on May 10, but it can be ferent, the Volkswagen is only point higher with sales of 84. overnight from French to Indian press for the number of elected discounted that some kind of 75 Swiss francs higher than the contracts. Mauritian. Politically, the 12,000 members

being

Domekile No., & sugar futures Austin A80, the former the Legislative spectacular protest be increased from staged in Spain.

offered at 6,575 Swiss francs, į closed unchanged to two polnis made Mauritius pro- 10 to 25.

Беста unlikely that the latter at 5,500 francs. higher with salos of, 688 con- perous, went out like a snuffed If they had their way, the Spaniards will be allowed to In Belgium, considered to be tracts. candle.

one of the Constitution of Mauritius would accept the invitation reported to

"open" European World futures ruled steady in

London, Mar. 20" Accused of living

raw market, In an at- begin to resemble the one which have been broadcast by the markets, prices in February line with the mosphere of pre- Revolution came to grief in five months in Governor of Gibraltar,

were as follows:-

although

Foreign exchange closed today Bleel shares and motor stocks offer may have obtained from trading was on the

'na' follows:-ww France, they saw that they must British Gulana.

Lieutenant-General Sir Gordon

Llires francs quiet side

futures mostly fight or abandon for ever the Britain wants to hear the MacMillan, to Spanish people t to

Domostie futures

higher New York other sections of visit Gibraltar to see the Queen.

47,960 with - tradors reserved pending | Montresi

Amsterdam from considerations of Apart

10,900 clarification of the New York 199,900 | CRAM The Franco-a patriotic nature, the Spanish

authorities fear 20 that

soma,

· ming

by whose capital and Council to

In

privileges they had known so he

views of the

Tonheir

thelon who are opposed

Teodors formed the to

Raillement Mauricien to combat Mauritians dread the

prospect of

will

bo

German cara; Lloyd ( Volkswagen DKW Opal Olympia

Borg

the danger of being swamped" universal suffrage, for It means Spanish Communist and on by the 247,000 Hindus,de their total eclipse--binding over glo scendants of indentured labourers the colony

areofal majority liberately provoke an Incident to a brought to the inland when which must go on increasing a Nor are any street, demonstra

"na to mar«Anglo-Spanish/relations): abolished. alavery was

They the standard of education rises. appealed for haip to the 160,000 The Labour Party atanis for tions which could give che coloured people, the 69,000 the nationalisation of sugar

attacks on Belilah Jomeisi the Indian Meloma and the 18,000 docks and the banks. All these

buildings likely

Chinese,

Angry Protests

balong to the FranceMauritians. Can Spain 1000L0g, faland -votitury,političšils | Hazmeras

Some Hindus would like.

told: Jelang

But at the next election, in bed by progrisive Trancon intolerabl August last year, the Labour Mauritiaris and by the 400 or so tacks onzilplan Party's victory, we ennsolidated British Government

"and any nation,gy They lost only one of their 14 businessmen

the 10 Calented Spedia

Belgium

London Foreign Exchange

Blockod Mark 13,300 | waterfront, situation which "hos Hamburg

Brunnels virtually brought sugar. redning

Copenhageri operations to a standstill.

Oslo, Parle Stockholm Zurloh

1300

Future closings 158,000| Contrast No.:dyTworld),

1.315

-2,8136-281 WIE

2.7455

10.05

17.72

0114

8. The Minister will not

· International Business · Ma- chine, up 20 points last week on accept responsibility for any omissions in the ite stock split proposal, rose ah-errors-"or other 13 points to a new high at particulate and description of $133.

the ship or for any Information which the person subraliting an

Improved - fractionally.

any person whomsoever y

· Tafl · losses generally' were 6. The Minister does not bind small, but widespread,” papel himself to accept any offer for Of 1,153 issues traded, 490 purchase and his decisión, in advanced, 349 déclined. There any case must be accepted as 4200 Anal wero: 93 new@"highs."pic

volume for the session amounted 1,500,000 on 1,070,000 shares, compared with

Friday

The NY Stock Exchange bond. volume was $1,080,000.00

The American Stock Exchange

Ratea volume was 310,000 shares

Dow

Jones""albšing -- avard

A. W. WOOD. Bigned by authority of the -Minister of stransport and Civil Aviation at Berkeley Square House, London, W.1 this 3rd day of *In Hono

1954.