1954-04-09 — Page 9

Page

A Light From A Candle

Mile. Francoise Egloff, one of the six grand-daughtern of M. Coty, the new French President, lights her elgarette from a candle carried on a tray by a footman at the first official reception to be held in the Elysee Palace by the new President, With her in her Hance, M. Jean Claude Helary.

Medals And Titles For

Stakhanovites

Of Eastern Germany

Berlin, Apr. 8.

The East German Covernment is distributing more than 100 kinds of medals and honorary titles among the people to encourage greater productive efforts without more pay.

The distribution starts at school. Children, organised in the Young Pioneers organisation for six to 14-year-olds or in the Free German Youth for elder ones, strive for the "badge of knowledge”, in bronze, silver or gold.

A "touring badge" and the title "young tourist" are awarded for camping, woodcraft, and near-military accomplishments.

A “hero of inbour", the highest elvillan order for receives a tax-free gift of 10,000

THE CHINA MAIL, FRIDAY, APRIL 9, 1954.

eialist competition" for produe-

move-

The forest of Utles and metials, tu gain for their group the for", or "striet vietor in 50- is thickest in industry. where | "best learning pulnant”. they are often accompanied by Farm boJA as well us Iue-top increases. Individual labour

Nearly 12,000 tory workers Filh win The brigaden may win sums of money.

the workers awards are handed mit

(shockworker; honours of n "brigade of epilec- "young activist's budge. regularly each May Day.

tive activist work" or "brigade An "nelivist" is given a Dass of excellent quality work". with his award entflling him to Drivers are eligible for the workers, several privileges in everyday medal of "splendid driver of

ure.

The 100,000 kilometro Enat marks (833 sterling) with Coal miners have u variety mint" if they look after their

therial

"meriteran A

avold they "worthy vehicles railwayman" gets 6,000

East miner's medal, which depicts major repairs. marks.

A "worthy Inter, a

a Picasso a plner's lamp and

Intellectual medals and titles "worthy activist" and a "master dove, the "badge of

money master are also coupled with farmer

1.000

A East marks miner", and the honour badge awards,

"meritorious In- ventor" gets ut least 3,000 East in mining M for

marks (230 sterling) with his accidents."

An Industrial foreman

11 "worthy technician" can medal,

sterling) and, most magnificent

his

each and

such lesser Bights as best machinist"

115

decorationN The

rescue services

hest or

50 that

tractorist" get smaller sume.

Young workers are urged to become meritorious foreman" up to 8,000 East marks (£806 seek the title of the "best ap- or best foreman of industry,"

"group vic-

prentice of the factory" (of the Whole Cactories are declared of all, an "outstanding scientist

first, second

or third rear) or

"national victor",

"Chinese-Chinese"

An Unpredictable Element

In Singapore

London, Apr. 8.

An article in the Times today described a cer- tain section of the Chinese community in Singa- pore as the unpredictable element in the future of the colony.

of the people" gets 40,000 Enst marks about £3,300 sterling). This title has been awarded only once, to Dr Adolf Watz-

chief

geologist of the Wismin uranium mining coin- pany, which is managed jointly by the Soviet Union and Fast Germany.

nauer.

TRADE

Hongkong Shares Drift Lower; Dull Conditions

By A Special Correspondent

The Hongkong Stock Exchange was very dull this week and share prices drifted lower. The undertone in the afternoon call yesterday was definitely easier.

On the week, losses were small. Turnovers were again light and with two half-days this week business averaged about $675,000 a day.

Briefly, the situation was this: demand was light and there were no anxious sellers. Brokers again had to split big parcels of Banks to sell them at lower rates. Brokers believe that most share prices will continue ense towards the Easter break.

to

The only possible external Providents which could only Influence on the market after muster a rise of 10 cents on the Eastor will be the Geneva Con- week on the disclosure of n ference on Far Eastern problema profit of $1,478,982, 18 per cent which begins on April 20. better than in 1952.

It is felt in Ice House Strvel, Banks cased 20 dollars 10 however, that whatever the $1,085 on the week and Lonton outcome of the conference, it register shares were down 10 will do ule u stimulate de- shillings.

Uniona were also mand on the Hongkong market, lower at $860, down $2.50 on a If tho conference proves, by sale on Wednesday.

The Morden group shares shared the general depression,

some miracle, to be an outstand-

ing success and offers better

prospects

hinta it Whoolocks

trade with China

is felt that ventors who are more interested

Chinere in cents, many

in this trade wil

COMMERCE SECTION

UK Shares

After the Budget

Still Rising The Spotlight Swings

London, Apr. 8: Stocks continued to more. ahead

strongly un The Loudon Stack Exchange today. withi Industriala cloning now average high for the fifth muccessive trading day.

The Financial Times' in- dex of leading indurizis) stacks, closed at 144.8. representing a sin of 10 per cent since the beginning DE this FOREST

Buyldg peptiyes Includ- cd further good company news, encouraging reports of PTOSTER in Iranian Oll discussions and nows that a delegation will leave for Teberan

Boon, United Press.

•

Back To Threadneedle Street

By Sydney S. Gampall, Router's Financial Editor

London, Apr, 7.

The colourless Budget confirms that this year's events are at the Bank of England rather than the Treasury. The Chancellor of the Ex- chequer, Mr Butler, reiterated that the budget can he supplemented by monetary policy. He might have added foreign exchange policy. Neverthe-

NEW YORK less, the budget is bigger than it looks.

STOCK

MARKET

New York, Apr. 8. Stocks pushed forward Into new high ground to- day, with "atomic energy" isauca In the lead.

The novel 9 per cent subsidy on all new plant and machinery and 4 per cent on all new indus- trial building could help powerfully to modernise British industry, especially as it fortifies last year's budget's incentives to industrial investment, which are only now belatedly working.

year, Mr Butler post-dated

As Jas! Apecialiuer

in

cheques: Industry gets the same allowances na before but pre- viously they were repayable to the Treasury (by smuller future years, Today's gains, with yesterday's allowances) over Investors

whereas now they are gifts. mark slight advance, more than cresca shares

Tussday's wide proŭl-taking

at $7.85 down and Allied

below the $4 ere dropped desert the when a parcel of 2,000

share market. And if there a changed hands yesterday at losses and lifted Industrials to a a stalemate or a deterioration $3.975.

new average bigh since October iri the Indo-China situation, share prices are still likely to

wenken. One

of the few

gains this week was made by China

TODAY'S SHARE PRICES

(From Our Correspondent)

Stocks

with atomic cherwy interests did particularly well as attention 1s drawn increasing-

the Lands group. Hongkong2, 1020. Hutels were down 15 cents from $9,10 inst Friday and Land" slipped back from $63 to 01. In the Utilities, Tramways were down 00 cents

at $28 on the by to this field. General Electric

Westinghouse each buyers' quote. Sinr Ferries

and

down $2 to $130, Youmatis down 14 points, $1 to $140, China Lights old and new down ten cents to $16.60 and $13.50 and Telephones were down about 80 cents from

$28.20.

can

rose

atomic

Bendix Aviation and Ameri-

Machine

Foundry and awarded

prace-time energy research contracts by the Government, gained around 1% points each. Climax-Molybdenum and Vanadium, both major pro Acessors of uranium, closed frac- hertionally higher.

Late realising pared prices in reetluna, Industriela, in an

$2.36

Dairy farms slipped do cents to $27.40 on the week.

Even the Shanghai Bhares which enjoyed some activity last week For this week. were off this

sold at higher Business Un the Block Ex- though rubber

in

Singapore yesterday raica change this morning amounted

slight Interest' in to $394,018. Noon quotations there was only

rubber shares on the Hongkong

Anishod nevertheless, and the morning's dealings:-

0,000 higher on average, raits One parcel of SHARES BUYER SELLERS BALER' market.

utiles 31 HANKS

Rubber Amalgamated

shares higher and 1050 1065 301003 changed hands

AS 93 cents higher. 30 1600

Trading yesterday. This was about the

was stepped the rates ruling last sharply on the rise and turnover week.

for the day amounted to 2,300,- 000 shares, heaviest in over a week, compared with 1,830,000

Hamit

INBURANCES

Uniun SHOPPING

Asia Nav... DOCKS, ETC K. Wharf Dock Prident

(0)

S'ha Dock Wheelock LAND. ETC

HK Hotel

HK Land

Realty

039 0421)

116

70

71

18:30

12 70 12.00

250 7 12,50

1000 cu 12.00

#43

7.06

100

6

8 RS 1000 0.90

New York Sugar yesterday

Market

New York, Apr. 8. World No. 4 sugar futures 300 890 viased today unchanged to two points lower with sales of 200 contracts.

6015

100

61

400

t

2 2.074

UTILITIES

Tron

28 28.30 100

28.20

1000

2000

C. Light (0) 18.30 18.50

Light (N) 13.30 13 Electric

500

280 23.AU

13.40

31 31

500

31

272 3115

500

Telephone Other titles include "meritor- | STOREY, MC. lous doctor of

Dairy the people",

Watson "meritorious teacher

the of veterin- people", and "worthy Brian"

There is also a "badge for excellent office work."

The most important financial rewords go with the "National and Prize". in various fields,

the "Goethe prize" for literature

$1.1

cents

up

|

US Steel up points, was the active leader, Qil shores featured along with the atomie energy issues. Metals were in continued demand.

Singapore Rubber Market

Singapore, Apr. 8. The absence of a Bank Rale Some further fiquidation this cut and of tax cuts may In-morning kept the market just tensify the present world-wide over yesterday's closing level. demand for sterling and Ils_re- | but when this finished,, zultant extraordinary

advanced inflow enquiries gradually into Britain's reserves, as both prices and with sellers reserved, skles of the Iron Curtuin sell the market was very steady

gold and dollars to the Banks of England to obtain needed alert- Ing.

The big demand for registered

be sterling has been partly cause people can got back from Il into dollars whenever they ilke ond, meanwhile, it cards twice as much as in New York: maintains maintenance al the Bank Rate this interest rate differentiot.

The strength of London gəld

trnde

toward the close. Future closings

were:

69-50

No. 1 rubber per 18. Aprü 6016-0015

May June No. a rubber per lb. April No. 3 No. 4 Apoi, rubber unbaled Blanket orePG No. 1 pale crepe

ני

0315-6314

United Press.

NEW YORK MARKET

New York, Apr. 8.

Rubber futures closed today

in face of sterling's rise against | 85 to 100 points higher with dollars (and the consequent rise sales of 309 contracts, in the dollar price of free gold) Buying

credited to Wall is mainly because the Bank of Street commission house account England has been buying much continued

be supplied more gold for the reSETVER (to through trade hedging against supply world demand for sterl-holding of physical rubber. ing) than it has been selling as Despite buoyancy of the con- ugent for South African and tract market, deslers reported

The strength a other producers.

slow situation in the spot of free gold today, however,¦ market. No. 1 Rss spot were also reflects Indio-China uncer- quoted at 21% cents a pound, tuinties.

future closings were:

STERLING TOO CHEAP

Conservative capitalists who budgeting" will also notice that Britain is cutung taxes by only

May

July

Sept.

Dec.

international

Mar favour "sound

May

Of 1,178 issues traded, 075 were higher, with 144 at new highs for the year or longer, and 244 lower, with eight touch.

24 million, ing new lows.

while the United The New York Stock Ex-States has already cut them this change bond volume was your by over $7 $3,130,000. Dow Jones closing Congress is still on the job. ruled quiet averages were:

feature, special

They may

Domestie No. 6 sugar futures closed unchanged to two points lower with sales of 349 con-

tracts.

World

futures

and without

billion

22.25

23.20

27.20

22.80

United Preat.

and

307.79

J01.53

15 utilities

LONDON MARKET

London, Apr. 8. The rubber market was steady with No. 1 Rss spot quoted at regret, only the 17% pence per ib. Prices: absence of An electioneering No. 1 Rs pot budget as a prelude to a general Bettlement house ferm:

1715-17

66.43

115.10

40 bonds

101.02

Comen, future price index

181.72

-United Press.

election and an increased Con- May

June servative majority, which they July/Sept. would like.

Oct./Dec. Jan/Mar.

1745-1795

173-17%

1716-18

18-10;

1812-18

Mr

17-7/16-17-0/10

500 31% dealers sald. In domestic futures, 20 lodustatals 1000 31% switching from nearby May to 20 att

later positions provided a good 65 stocks

part of the activity.

500 31

28.00 ...... 27.20 27.40 200 27,20

10.10

200 26.20 Crawford 20 24.20

Future closings were:

Contract No. 4 (world)

COTTONS

Muy

3.34V

7.70

July

2.835

0.05 140

...ATES

Textile Comp

MISCELLANEOUS

Yangleze

Yauman XD Allied

Invest

and art. These distinctions are Wants Extension awarded in three cluases sums of 100,000, 00,000 und

with

25,000 East marks (3.300, Of Price Supports

£2,075 sterling) rus- £4,150, pectively.

For Films Too

The

"Heinrich

Greif

Alm

The writer of the article, the Times corres- pondent lately in Singapore, declared: "One might divide the Chinese community in Singapore prize is bestowed in classes of into the English-Chinese and the Chinese-Chinese. 20,000 15,000 and 10.000 East

"The former are long settled "The English speaking-often unable | cracy to speak any Chinese and have | Living been

to Government schools contained where

they are taught

in is these They have never are the China. They are usually in found in Government service,

marks (£1,600, £1,300, and opportunities of demo-

£833 sterling).

East Germany Occasionally do not

excite them.

suffered the embarrassment has within a largely self- of having a

a National Prize win- Chinese context it ner pocket his cash and head Chinese Chinese who for the West with it. Two whe slemont did this were Professor A. Sed- of the colony",

Max- lacyek. Director of the the Chinese huette steel mill, and

and Dr Franz overwhelming Johne, Manager of

of the Buna clerks in foreign Arms. They majority and in the Federation synthetic rubber works, have acquired some of the they "cannot be regarded or characteristics of a settled, un-treated as a majority, the Times of a "master of sports."

Sportsmen cau carn the title

A "peace modal" and tho themselves "Ernst Theelmann medal",

Vis

Huy in the full clabig.

In Singapore, ot in the professions or As are

adventurous middle class.

herc

and

article states,

cy have also responded *The Chineso

and there to the concepts have contrasting feeling on the named after the pre-war Ger

the responsibilities of English

Bubject of self-government. man Communist fender, aro democratic practice. There is first the loyalty to given for bravery, or, diligence The rest, and they are still the China and to being Chinese helpful to the regime, such as substantial majority, aro the This may take a political form fighting against demonstrators rerent immigrants from China. 1n the slowly

They have been taught in minority who still look to the year.

17 riots, lost decreasing during the Juno Chinese schools and rarely speak Nationalists in Formosa, or the

such Poople who perform English fluently even when they much larger number-especial-services outside

Germany may have reached the pinnacles of

the "Partisan of peace wealth and influence. They still among the young whose wit

IE-medal." have relatives and friends in sympathies respond to a

The highest décoration on China

and remli

weurgent China under Mao Tse- money

tung's leadership.

offer is the "Order of Kori them.

"Moro numerous than both Marx", which depicts Marx's "They are more active, more enterprising and more volatile are those who look simply to head, a red star, and oak leat

their

homeland. without any clusters. It has been given to and are mostly engaged in com- merce, the Times correspond political influence. In Singapore President Wilhelm Pleek, the

is undoubtedly the de- Prime Minister Olio there

Grote mand for golf-government and wohl, and Herr Walter Ulbricht, "Faced with measures which seem to invade their daily con forward to satisfy it.

there is no hope In going the Communist party's Schlet sacrotary, One of the early cerns, they will protest. If their

"The Chinese are not

Hthe forner Chinese sympathiles are outraged being offered power; they are Bacurity Minister Wilhelm

only recipients was -and these are by no means' a question of political sympathies going to have to take decisions Zalaser, who was dismissed hostility wells up. But in the which can no longer be taken from his post and find to LIVE problems of government, ther for them" the correspondent the order up last your lake little interest,

concluded/--China Mal:Special. | Mail Special.

ent wrote.

Washington, Apr. 8, A cotton producer spokesman urged Congress today to extend price supports on cotton at 90 per cent of the "fair income" parity level ot least through 1956.

A current Law pegging cotton supports at 90 per cent of parity expires of the end of this year. The administration bas asked Congress to replace the current system of fixed supports taking effect in 1955,

out

J. R. Flautt of Mississippi, attacked the administration pro- posul in an appearance before the Senate Agriculture Com- mittee. He pointed

that the income of US

cotton this farmers will be reduced year because acreage has been cut in response to a Govern- ment production control order.

United Press.

CHICAGO GRAIN PRICES

Chiengo, Apr. 3. Priors per bahet in centar

Closing Prices

Wheat, No. 2, rád

Bp01 May $100) 3104(L) July

21034

September

December

Com, No. 2, yellow

Spol..

Moy

21710

104

1841 2404-7%

July

September

December Hoyacanın, ble, E. yellow

Zin

Spat May July

September. “Novendier

January (1085) MAIKYTKIN

-United Fre

Besternber

October

March

May

3.386

*33*

January 11933)

7.35

3.200

3.200

2.2m

Juty

Bppt-coenty per lb.

Tob Cubal

Open Interest: 8.004 contracts.

May July

Contract No.

073-74

September

5.760

November

$1,700

March (1955)

6,510

0.70

Open interest: 7,888 contracte. United Press.

Spot-ce per Ib.

elf NY ax-duty).

سعيد

London Foreign

Exchange

New York

Montreal

Amsterdam

Blocked Merk

Brussela

Copenhagen

Oslo Paris

Stockholm

Zurich

General markets, cif basis, parts:

May

Butler's

on emphasis seasonal and possible American Ar

half- June pressures in the second

year may imply his desire to..

postpone widening of sterling's Bluctuation rango.

Limited by the present celling

17-17

17-0/10-17

United Press.

New York, Apr. 5 of $2.82, the Bank of England Exchange Rates

2.75-18-2.787 10.30-10.63(4

12-11/6-1214/10

may

班

supplying sterling too

cheaply. Raising it at least to Business was done in the toval

the permitted IMF celling of unofficial excharige market 140.4236-240,47% $2.828 would beert awall the moming at the following rates:-

US dollar (per $1)

2001-20.011

004-00434

34.5934-303596 1222-12,2315

United Press.

passing of the seasonal Septem- bez pressure on sterling. But events may not awall Britain's convenience.-Reuter.

Sterling notes per #1) Indoneslari ruplait (per 100) .. Slam icale, per 100) Singapore (Straito) Indo-China plastres (per 100)

6.79

15.80

1954 Edition Just Off The Press! The Leading Export & Import Medium

HONGKONG TRADE

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(A CO-OPERATIVE CREDIT DIRECTORY INDISPENSABLE TO ALL MERCHANTS, BANKERS, SHIPPERS AND BUSINESS EXECUTIVES)

EXPORTERS & IMPORTERS: . Över 1,000 firms listed, covering måln exports

and imports, bank references, oặc.

MANUFACTURERS: · Over 100 Hong Kong Factories Ilsted, including .. manufactured products arranged in Gi classifications. COMPANIES INCORPORATED IN 1981 Capital, Registered Office, Nature

of business and Subscribers.

WATCHES (MANUFACTURERS, IMPORTERS DEALERS): Datalled particulars of Swiss and German Watch factories, Indicating names of Watches, Trado Marks and Hong Kong representatives for each Trade Mark. INTERNATIONAL (OUTPORT) MERCHANTS; Detailed particulars of firma In countries, outside Hong Kong, nature of business, "bank references, nationality, trade connections desired, oje,

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