1954-03-31 — Page 9

WORLD COFFEE BELT

Loiled Steins dinka z half of warld'a súlfas»

seven times neben.

then France,"

MENIE

EL SALVADO

COSTARICA

CHUAN HARI-HARINICAN REP.

UTION & PREMIU KI

VIKKEILA.

COLONNA

BRAZIL

World's

TEREX)

(ZANEROBIES)

LECHTS 199 MI LANKARTIKA

1,137,000 Moirle Tone

WORLD COFFEE PRODUCTION (10 Matria Tana)

#F: 43 Under 50,000

£80,000 T= 100,000

Ove 700,000

Over 1,000,000

THE CHINA MAIL WEDNESDAY, MARCH 31, 1954.

Why Coffee Prices May

Not

Fall

For Another Two Years

By A. I. Goldberg, Associated Press Writer

People in the United States drink more than half the world's coffee. America imported 1,339,481 tons (enough to fill 2,678,962,000 pound cans) in 1952 and imports for the first nine months of 1953 were running about three per cent higher than that.

France is a poor second at the world's coffee table. For every cup that Frenchmen sip, Americans gulp down seven.

are

Americans drink more coffee than is grown in Brazil, by far the world's biggest producer. In 1952, the latest for which totals available, Brazil produced 1,157,000 of the world's total of 2,370,000 metric A metric ton, used on the international · coffee exchange, is 2,204 pounds. The American ton is 2,000 pounds.

tons.

Last year frost nipped millions during the second half of this | Ethiopia, where the first coffee of coffee trees In Brazil. That decade whon tow plantings bean is supposed to have come is the reason for the current come into full bearing.

from, remains one of the lesser coffee crisla. Brazil, the No. 1

producers. coffee - producing nation, has been hard hit and the United States, the No. 1 coffee-drinking nation, is having to pay higher prices.

"If the current high prosperity of the coffee industry is used

Coffee experts say it is dim- for rejuvenating old plantations cult to get accurate production and improving quality.

ond sales (gures. That is one bigger yields and lower prices may reason some Congressmen have

been demonding Investigations came sooner than anticipated.** The full extent of damage to

to find out if coffee stocks have Brazilian cuffce plantations The accompanying map is been hoarded to force up the han't yet been determined. It based on FAO's Jatest inter- price, to find out whether pro- taken three to four

fernational coffee survey. It shows duction controls have had any. newly planted coffee

effect. la that coffee is grown' in a fairly bear.

narrow band about 3,750 miles wide in lands along both sides of the equator.

youra

trees

Is concen-

TRADE and

COMMERCE SECTION

Pago 9

Attempt To Put NZ Formosa To Get Short-term Outlook

Oil Drilling

On A

Sound Basis

Wellington, March 30.

Experimental drilling for oil in New Zealand

is about to begin with the aid of equipment from the United States and under the leadership of a Rritish manager.

For many years the oil wells of Taranaki

US Wheat

Washington, Mar, 30. The Foreign Operations Administration announced today that Nationalist China has been authorised

to purebare $5,000,000 worth of surplus American whent under the foreign aid programme.

The allotment- brings to $10,000,000 the smount authorised for Formosa so far this year for the pur- clase

surplus

of

com-

nodillen-United Press,

have admittedly, only a mere dribble.

been producing regularly, although, HONGKONG

In fact, they

are among the oldest wells in the world, and certainly the oldest in the British Commonwealth.

No producing well in the area has ever failed, so experts are certain that there must be an oil source somewhere there, but lack of equipment and finance has held back the full-scale investigation that is needed to find the source.

STOCK EXCHANGE

Oll interests Are convinced tools choked the pipe, ending (From Our Correspondant) that it is there, and now they the flow. intend to And it.

new

Thirteen truck loads of equip- ment for the

drilling venture have reached New Plymouth for the Egmont Oil

400

Another brought up gallons a day in 1895, but water flooded J

A third gave 215,000 gallons before broken tools choked it

For Rubber

Is "Not Encouraging"

London, Mar. 30,

The retiring Chairman of the Rubber Grow- ing Association, Mr P. L. Coghlan, at the annual general meeting today criticised the United States Government synthetic rubber policy.

ed over

de-

MOTO

SHORT-TERM OUTLOOK

The short-term natural rubber not too encouraging. Πισ though

No action had. been, looked as if the surplus of pro- taken on the pricing policy, duction over consumption of natural rubber this year would Had there been be less than in 1953. he said. an increase in the price Some 70,000 tone were esti- when the plants were hand-mated to have been taken off the to private enter-market for the United States prise sometime after April, stockpile, whereas this year it 1955, it would support the than 30,000 tons would be need-

was estimated that not contention that the Uniteded to complete the reputed tar State: Government had get of 1,250,000 tons, been providing its manu- facturers with an artificially cheap alternative to natural the Stock Ex- | rubber, consequently change this morning amounted pressing the price of the sidered, to 3442,012.00. Noon quotations latter and thereby causing could be completely altered it and the morning's doulings:

economic distress in South-the Iron Curtain countries

creased their Intake. East Asia.

On the longer term view, he He thought it sometimes din said the trend of total rubber cult to understand why Britain's consumption was still upward. premier dollar carning commo- According to ulty was probably the lowest estimates, world prived raw material in post-war would be of the markets.

3,000,000 tons by 1960,

Referring to the recently an- Looking the prospects for the current year, the Chairman nounced intention of two large suld there were many impotider-chemical companies and

but at the moment it

Dunlop Rubber Company vommence synthetic

Business on

SHANER NUYERS SELLERS SALES

Wells, Ltd., which is also bring-/la standstill,

So the story goes on. ing a substantial amount of gear

In the early 1920's a Taranaki BANK from the United States. Operu- company sold its tiny refinery to tions will be managed by Mr

the Anglo-Persian Company, Alan Rutherford, who for 14 which transferred the plant to years was engaged with the Persia and re-orceted it. Anglo-Iranian Oll Company in Britain and Persin.

Three wells are to be sunk in the immediate future, the locs tion of the second and third depending on what the rat drilling reveals.

A depth of 2.200 feet has been decided on, this being the depth al which existing wells have been producing.

"I feel extremely confident that a payable field exists, and I hope to prove that before this year is over," said Mr Ruther- ford. "All the evidence we have points to the existence of a payable field."

87

It is 88, years since the first well was sunk in Taranaki, and

ain.co the years

Arst oll flowed, and in all that time the wells have produce a modest 4,700,000 gallons, not sufficient

The oil is there at Taranaki, and the significant fact is that no woll that over stopped pro- ducing did so because it ran out of oil. Mechanical and technical actbacks closed them down.

Two of those still in operation now have been yielding a steady 400 gallens a day since 1930- Ching Mail Special,

NEW YORK

STOCK

MARKET

New York, Mar. 30. Strong aircraft stocks,

to keep New Zealand going for with individual gains rang-

a

a week.

Americans are not the only Crop estimators of the United

ones paying higher prices. As Nations Food and Agricultural

coffee passed $1 a pound in the Organsiation report world prices

United States, it was beginning Most production are likely to remain dr carly

$1.02 trated in Central and Latin to rise from $1.95 LO 1954 because of the tight

Brazil, pound in the Scandinavian coun- especially about America, uncertainty supply and

iries. People in coffee-growing Colombia and Mexico. this year's erop in Brazil.

The countries

also

to pay began scattered rest is

more for lower grade coffee FAO experts say

Indonesia Africa, might Caribbean,

which was not exported. even be 1050 before world and Indo-China, wherever a coffee prices start to come down. combination of climato and

practic With the exception of Britain, cheap labour make it all Western European countries able to grow and harvest coffee in 1953 imported more coffee beans.

than the year before.

It

Taking

ten off rationing in Britain cui coffee consumption there.

Hot Black Markets

Europeans always have been heavy coffee drinkers. After World War I coffee raniced with cigarettes as a hot black market item in Europe.

Here are some factors, cited in the latest FAO statisticut bulletin, that have a bearing on the price of coffee:

across

Origin: Ethiopis

metrie

tong.

the

ACCIDENTS, HOPE

has It

been + period et accidents, controversy and dis- appointment; with spots of glow- ing hope.

ing to more than 4 pointa, featured the stock market in its third consecutive session of advance today.

Latin American spokesmen claim relations will be strained if the American coffee-buying

A well was drilled near New public tries

Plymouth several years before sistently, plled force down prices by

the first drilling was carried out of means

"boycott", especially

with

In the United States. the United States holding butter at a high price.

a

The highest Brazilian erop.on A history of coffee published record was 19331,777,000 by the ΕΛΟ indientes that Brazilians have coffee, in berry form, was in- not forgotten. That was duringtroduced to Yemen from Ethio- the depression. Unable to sell pla as a brew for religious rites.

Brazilian their coffee beans, plantation owners had to burn Its use spread over the Arab or dump them Into 1h0 seo.world, and throughout Some owners

production about the same ilme. entirely then.

quit

Coffee countries never have been able to agree on planned "Under normal weather con-production schedules. The wur titions, Brazil may produce took some areas out of produc- almost as much this year as last. tion for the farming of other It depends on whether the frost foods. Japanese occupation In Just hipped the buds, damaging the Dutch East Indies now year's crop, or completely Indonesia-cut coffee production there. killed the trees.

"Production in other

one

rlao.

coffee-.

growing countries is likely to Some of these areas are

their way back. Britain's Wast "Indications are that produc- | African Cameroons has begun tion will expand considerably to produce coffee commercially.

1

The Kremlin Frowns

On Miracles.

Moscow, Mar. 30.

Africa

Some-

chewed the berries without any other preparation. Some people roasted the coffee with butter,

For Medical Use

From Mecca, the sacred clty drinking spread to Cairo. The cr the Mohamma 2018, coffee

first public coffee housty at Constantinople was opened in 01554-just four centuries ago.

Venetian and Dutch seamen took coffee beans-Arst restrict- ad to medical use because of high cast to Europe early in the 17th century, and coffee houses began to spring up in the principal cities of Europe.

Bomo doctors and scientists first opposed its use.

Youngsters in the Volga region of Ulyanovsk "are not yet free of religious prejudices," the Soviet youth paper Komsomol Pravda complained,

Firty-seven bares have since down: most of them been pul produced gas, 25 produced oil, but only three are operating to <lay.

Rails, in a considerably lega conspicuous way, also featured, The carriers, which have trailed the rest of the market con- up numerous fractional gains to register the widest average percentage gain. Trading was brisk all day, highlighted by continued henvy demand for RKO Pictures which appeared on strings of large blocks 10,000

sharca, 20,000, and

one of 32,100. It traded most of the day at $64. up and □ now high; then closed at $6. Stockholders Di the Company last week" proved sale of all assets

One producer brought out 93000 callons a day in 1891, but broken

ap-

to

Refinery's Wide Howard Hughes in a cash trans-

Range

action.

Glenn Martin followed in the active on demand generated by an excellent carnings report

Of By-Products which sent the stock up 2 painti

London.

A million gallons of motor oll are now produced every day at the vast oil refinery at Stan- Jow, Ellesmere Port (Salop), which cost £60 millions to establish and develop.

at one time to a new, high at $23%. It closed $23%. Est- where in the group, Boeing rose $4% to a new top, at $78%.

Five of the ten most active frsues were aircrafts..

ink Bank

East Asia

INSURANCES

Union

SHIPPING

Arla Nav

DOCKS, ETC.

16:00 1700

170

1700

861 875

3.10

2000

1.15

K. What XD Dock XD Provident

(0) XD .. 12.0

S'hal Dock. Wheelock

LAND, ETC.

1.39

ables

2001 69

181

13 300 12,80

1500 12.00

1000 12.00

509, 12.90

8.03 8:10 1000 0,05 1000 * 8.00 3000 8.03

100 or 03

HK Hotel ... 9.20 0.20 KK Lond

... 21

83 100 or 03

S'hal Land

1.375

1400 6

1,35

4000 140

10.40 2.10

ID 100

19.70

Humphreys Realty

UTILITIES

Tram XD 28.70 23.90 200 20.90 Peak Tram (D) 16

C. Light (0) 10.70 16,00 – 100 or 10,10 200 $ 16.00

WGS

the

outlook for therefore,

con- situption

in-

authoritative consumption

order

the

.to

in the United Kingdonduction

said the

be

new plants

Singapore Rubber ou producing speciat

Market

Singapore, Mar. 30,

Prices of rubber futures to- day closed as follows:- No. 1 rubber per ih. April 309-00

purpose synthetic rubber and it was not expected that their. output would be encroaching to any marked extent on the use of natural rubber.

It was Interesting to that the total planned output

note of 10,000 to 20,000 tons was rough- May 18-567

bly equivalent to the amount 31.

June

No. 2 rubber per lu. April 68-561% special purpose synthetic rubber No. 3 rubber per 1. April 545-5475 | which the United Kingdom No. rubber per 1b. April 4 would import in 1954, the chair- 031-84 man added.-Cha Mall Special.

Spot rubber, unbaled

Blankel crepe

No. 1 pale viene

B844-0054

-United Press.

NEW YORK MARKET

closed 15 to 25 point gater with sales

3000

New Rubber fut 10.80 10.80

300 10.00 200

16.00

13.80

500

500

3000 32

209

32

20,10 29.40 500

29.30

C. Light (N) 13.70 13.80 500 Electric

... 31

Telephone

INDUSTRIALS

..18.10 Coment Metal Indust.

STORES, ETC.

Daiy

Watson

L Crawford

COTTONS

Evo

2002.05

20.10 20.40 1000

3:00

16.30

20 20

Textile Corp

1.83

*

****

ឆឥតន

'1000 77 7.00

MISCELLANEOUS

Yangisze

6.00 Yaumati XD 139 141 200 úr 140 100 140 Allled

4.011 4,07 10000 4.09 B0004 405 1000 or 4.05 .300 # 407

Invent

New York Sugar Market

2

New York, Mar., 30. World No. 4. sugar futures today closed unchanged to points higher with sales of $183 contracts.

Domestic No. 6 mugne futures closed 3 to 4 points higher with sales of 445 contracts.

house

of 152 contracts.

Further commission buying in the forward positions. credited to speculative and dealer account, continued Lu dominate the increased trade.

Switching of May-December

contracts on an even basis pro- vided another trading feature.

20.83

NOTICE

The following advertisement has appeared in United Kingdom papera:-

MINISTRY OF TRANSPORT AND CIVIL AVIATION

SHIP FOR SALE

1. The Ministry of Transport

In the spot market, business and Civil Aviation invites offers remained on the quiet side with for the purchase from him of No. 1 Rss quoted at 20% cents the undermentioned ship as a pound. Future closings:

ying

ut Hong Kong after removal of certain Naval equip ment and stores. If purchased for scrap, certain other equip ment will not be included in the sale and will be removed before delivery to purchaser.

MAY

July

Sept.

Dec.

Mar

May

20.75-79

20.70

20.80

20.90

20,00

United PresE..

LONDON MARKET

London, Mar. 30. The rubber market was very steady with No. 1 Rss spot quoted at 18-13/16 pence per lb. Prices: No. 1 Rag mot .......... 104-107% Seillement house term: May

101-17 June. July/Bepi. Oct./Dec.

June

r་

1756-1734

174-173 174-179

General markets, cif basls. ports: Aprti

** 10-11/16-1811 May

70-103% 10-13/16-17 Estato crepe rubber thick unquoted

thin

18 United Press.

LONDON METAL PRICES

London, Mar. 30. Prices of metal closed today in sterling per long ton as fol- lows:-

Total turnover of 2,130,000 Stanlow contributes half of shares, compared with 1,870,000 Britain's requirements of bottled shores yesterday. Non-ferrous petroleum gas, 3,000 tons of high metals also continued to respond grade chemical solvents for the to firming metal prices and now paint, textile, plastics and other Governmeně stockpile goals, national Industries, 12,000 tons Reynolds Metals rose 1%, Con- of sulphur overy year the first solidated Mines was active anë been made up point to #10. Steels firmed. wase sulphur has It appears that coffee

from petroleum in Europe drunk In colonial New England över

Of lubrica-

1,172 Issues traded, 359 World futures held steady in over 100,000 gallons of by

Dutch 1070. The

begating oil daily with over 200 were higher, 327. lower, There quiet market while, the raw planting coffee the Enst varieties, ranging Indies in 1000, and in Gulant, heayles: industrial lubricants to new lows.

from

wero the

101 new highs set, 13 market held unchanged. the West Indies in 1714. The the finest motor oils and electri-

Domestic fulures advances in French planted coffee

with cal and medicinal paraffins and The

NY Stock Exchange trade, buying, partly reflecting Zine March some difficulty on the island of about

bond volume, was $3,000,000, the two-point rise in tons of aspha and the American Stock Ex-Future, cloningiz bulg Martinoque by 1729.

every day.

add change volume was 480,000 Contract Np. 4 (world) The refinery is soon to From

sulphuric acid to its list of shares. products.

Dow Jones closing averages October The opening of the new dock were: C at Eastham has simplified problem of supplying, the huge 30 industrials

in

on

Russian youth are taught not | years dressed in' cassocks, ware in belleve in God or religion.reading the lessons, singing in There is an answer for every- the church choir

then and mesleting

Catholle thing in natural sciences, they the priests." Another school | missionaries especially were in- are told,

bay. "having fallen under the strumental in taking coffee to influence of church-goers," the Caribbean islands and else stopped learning his lessons.

where in Latin America.

But in Ulyanovsk, the news papar accused, the local youth leader had falied to make "even the least effort to help children religious folly," to cast aside: The youngsters still seemed to be seeing "miracles."

coffee,

1,000

"

the

45 stocks

plant with the 15,000 tons of 20

15 utilities. crude oil it needs every day.

New Alant tankers can now 40 barida bring up to 80,000 tons of crudo. Comm. future price Index oll at a time from the Middle

"In the Sursky district of The type of coffee that comes the Ulyanovsk region, there is from Brasil-coffea arabica, a 'holy': - mountain and three niso called Arablan holy springs. In the summer, Abyssinian coffee, Brazilian half month before the feast confo and common -coffée'-- Komsomol Pravda seld two of St. Nikola of the Summer, furnithes 90 per cent of the East oilfelds into the dock, and

bellovers, assemble here. Even world's output.

girls, Valva

It t

Filippova and young people do so. Some bathe at compilation, the diameter Galyn Tarasova, were taken in in the holy springs, addróss=" by "fraudulent tricks of the ing to 9 Mikola the request FAO 1sts 70. countries and ter chorlatans when they claimed that they be cured.

Mi ritories gimporting; coffoo-with to see an Ikon "come to life”, in

no mention of the Soviet Union, thevilingo church.......

“All this goes on before ihea ten-drinking-tountry.) very eyes of the district loaders: aston Komsomol, Soviet Youth and Komsomol." "oficials," the Bome other: Organimation, :: member who | newspaper declarade frang arb Bolgli "called slown on himself-gen-.7% 166

eral condemnation by perform. The same lage of Komsomol Arentina inga religious ogremony Chad") Pravda vreported fil-A five-day. @boen; expelled:

| seminar, at Kasan, ont questioná

of natural science and athe The newspaper cited, three propagands.? p* Chẳẩm

syy coffee users nany...

May July September

March

200,00

10.89

66.03

Tin Spot 3-ionth Capper apot 3-month Lead Marchi

Juno

Jund

buyers sellers 720 730

700 704 230 237

911 1045 80

7734 78 United Press:

NEW YORK FUTURES

2. Offera for this ship will be considered from any person and should be nindo in writing to the Secretary, Ministry or Transport and Civil Aviation, Room 4017 Berkeley Square House, London, W.1. Envelopes should be clearly marked "offer to purchase" and should reach the Ministry, on or before 10th | April, 1954."

Breadth

8. "MAINE". R.N, Hospital" |Ship of about 7515 G.R.T. 4203

NILT. Length - 429.8", 52.2. Built 1925 by Ansaldo, San Georgio.

Engines Ansaldo, Sampierdarena, der steam turbines D.R. geared to 3 shafts, 4 watertube boilers and 2 single boilers. HP. 5500, Max. Seagoing speed 13 knots.. Ship is under the care of the Commodore-in-Charge,' Hong' Kong, to whom. applications to inspect, should be addressed.

4. Further particulars and coples of the form of purchase agreement can be obtained from the Ministry of Transport and Cvil Aviation, Room 1013, at the above address. (Telephone No, Mayfair 9494. Extension 2880).

5. The Minister will not New York, Mar, 20.. Mobal prices closed today in accept responsibility for any

errors or omissions US cents per lb. as follows particulars and description of in the

TEWI.

.3.316

*****3.30

3.00

Lead April

3.3in

Ti

Zinc

Spols(cents per lb.

Cubel 112.00 Open interest; 9.804 contract, 1 Copper April 10100 Contract No. 0 180.50 May

-United Frem

New York Cotton Prices

2.000 tons

an hour can be men pumped through 4-16-inch line. pipe

to refinery:

Staniow spends more than 23K million a year for steam and har a million pounds on electricity {{. Two of its labour-saving mechanical marvels aro-the-Ch million : distliling unit land”, the 28 million Cateracket #On fivo men at BALMORALIT labour that: ir-redulitaLPERN

New York, Mac, 80. of cotton fúfurés closed

Septembe Novembe

March

Open Ente

SFFFF

B.29

Exchange Rate

bebid.

1340b

13455 the ship or for any information 52.000 which the person submitting an 20.70h offer may have obtained from 10.09b

any person whomsoever, 10.14 20.100. The Minister does not bind. himself to Recept, apy, offer for purchase and his decision any case must be accepted an dioal:

United Press.

London Foreign

Exchange

WOOD,

choolboys who