1954-04-13 — Page 9

Page

Sister Francis Had Her Camera Ready

THE CHINA MAIL, TUESDAY, APRIL 13, 1954.

Sister Francis had her camera ready as Princess Margaret walked through the lines of nurses on her arrival to open the extensions to the Maternity Hospital at Kingsbury, N.W. London last week.--Central Press.

It Was A Bleak And

Miserable

Winter For Hungary

Vienna, Apr. 12.

The severe winter weather of the last two months in Hun- gary has set off a chain reaction of cause and effect which, working in a vicious circle, has seriously impaired industrial production, according to reports reaching here.

As a result observers believe that only drastic downward revision of the Hungarian economic plan for 1954 will prevent a breakdown in the country's industrial system.

Until the cold spell came, Hungarian propaganda had been devoted almost entirely to trying to speed up agricultural production, which had fallen far behind the plan. But in the last two months the Hungarian press and radie have devoted an unparalleled amount of space to indus- trial problems, especially those of fuel and power.

The

chain of reaction.

roughly this:

The drastic power culs which | Was

Schools have bern closed have resulted have |21 their owing to fuel shortage and the Luri lcd to illing JA the children have had to stay in factories.

unheated homes or play tho snow filled streets.

The intense cold and heavy BIOW reduced production of fuel,' disorganised the tran- In some cases workers have sport system, and at the same been sent on unpaid holidays. In time increased the demand others, in an attempt to hide

for fuel and power.

the situation, the workers stayed

TRADE and

COMMERCE SECTION

The US Economy As More NZ-Japanese

An

Seen Through Opaque Crystal Ball

New York, April 12,

Predicting the future of the U.S. economy has become a great American pastime and there was no let up this week.

Even some of the professional seers encountered new difficulties. Judging from the mixed tenor of the week's developments, the casual and unwary reader might conclude that business looks gloomy from the left and less dim. reading from the right side of the page,

Here are two typical reactions reflecting the cautiousness of leading observers generally.

Wily

000

Lo

show

tu

13

for

This

What

the

tox

Trade Forecast

Tokyo, Apr. 12,

New Zealand has agreed to ease its preacht Import rekiriofione ̈sh -- Japanteko goods and to give mort favoured nation treatment to Japan.

This was revealed by Me Hideo Kitahara, chief of the Fourth Section of the Foreign Office Esand, mie Bureau, who returned to Tokyo by ale lani night from a vialt to New Zea tat And Australia 10 negotiate on expansion of trade with the two boun-

lle said "New Zealand has decided to hold talks with Japan shortly for the conclusion

*kree-

*** 34

kend mes, tarifs and trade and the conclusion of the pset will no doubt result in an increase in Japanese exports to New Zealand?

said he was con- vinced following the meet- ing wills Australian off- ciál during his visit thai Japan's trade with the country also will #O RE

in the expansion

future Krodo, - Chias Special.

HONGKONG

STOCK EXCHANGE

3 Topics: Quality, Packing & Shipping

International Rubber Talks To Be

Singapore

Held In

Representatives

Singapore, Apr. 12.

of eight leading world rubber centres will meet in Singapore on April 22 and 24 to discuss quality, packing and shipping of rubber.

There will be 70 representatives, including 15 from the United States of America, which was a prime mover for holding the "rubber industry conference."

Other representatives

are from United Kingdom, Malaya, Ceylon, Thailand, Indonesia, Indo-China and Holland.

Representatives who will in- Jagreement ON processes for clude big names in the interna-arbitration awards on claims. tional rubber fold, particularly A from the United States, are down procedure

simple and clearly Jald for the pro- coming to Singapore way through to Colombo to at- delegates to the conference.

on their ceasing of claims is wanted by

tend the

There will be discussions on on bale,

ference

rubber study group meeting which opens there April 20,

that

coating and R.M.A. con-

The importance of the con-bales, talcum

tests, the marking of

in bales and im ference ls that It will be the proper wrapping sheets. first time

producers, The

problems under the head- brokers, and shippers in the ing of shipping and packing are East have had a wide on the obliteration of the shipping portunity of meeting Western marks, illegible consuming countries' representa- massed, pred shipping marks, mis-shopen tives in the centre of the world's bales. rubber market.

Thero have been complaints The present time has been by American importers that chosen

because rubber repre- bales have arrived in such badly Ex-sentatives would be travelling in shaped Condition that big amounted any case to attend Inter-problems have arisen in trying quotations national rubber study group to work the rubber-China

meeting in Ceylon.

Mall Special. Malayan rubber leaders carller

(From Our Correspondent)

The National City Bank, in its; concentrated in the durablo April Newsletter,

"The goods industries, said month of March hus brought no Les conflicting and certainly ricar evidence of business Im- more heartening for many ob- provement and, although the servers was the record construe opinion seems to be spreading | tion expenditures For the rat that the worst of the decline is quarter this year. After adjust- over, this is a matter of faithmont for ressonal factors, new rather than of statistical de construction

The three monstration"

The

month period was at an annual Journal

Commerce ale of $30,100,000,000. said:

"The

March figures are 50 Js higher than

both mixed that with a little previously forecast by Govern- diligence and imagination it is ment

agencles and posible to treat them in such $34,843,000,000 spent in the boom that (1)1933. President Eisenhower and recessionary trends have been administration

advisers stopped and reversed,

place (2) the considerable emphasis on trendstiil downward and (3)

the that expenditures for berth elements

for new are present but! construction might play neither is predominant.”

sustaining a a healthy economy. And 1 goes Uils week

Meanwhile,

the cxcise it was ther plus-and-minus reduction effected last week ap- offale Employment and peard to stimulate sales through-

Business on rise in March by out the nation.

the Stock unemployment re

morning But many are change this about 90,000-hun

appearing watching the Easter sales season to $720,234. Noon cancel each other.

Predient

Eisenhower twice Rave assurances that the drop in

tess activity appeared to be Newsweek magazine felt that BANKS levelling off, and there appeared if retall trade this week and to be no visible indications that next week stays within 2 to 3 the Government WIF unduly per cent of the corresponding concerned nbear the immediate

pre-Easter period last year, it business prospects. Instead, the will be considered satisfactory President Spok of confidence ground for moderate encourage- and signs of encouragement.

Meanwhile, the

war in indo- Any decline China and a statement by British per cent means increased worry, of more than 3 Chancellor of the Exchequer Mr the magazine noted, Butler combined

and also impart a more and more hedging on new jittery note to market prices orders. which had been

holding up boyand mony

expectations. A selling wave attributed to "war scare" arising from Indo Chinese tentions dropped security prices from one to four points

on Tuesday. Commodity prices which normally respond to war talk and rumours, falled to show decisive

trends. BUTLER'S REMARKS

busines

in the next week for further in- and the morning's dealings- dications as to whether con- sumers will spend freely.

ment,

Anything less than 2 per cent will be very good, evidence that the slump is levelling off.--United Press,

Big Jump In

Chancellor Butler's remarks London

that the decline in US activity must be watched closely and there was no certainty that it would not fall further before it reenvered also discouraged many traders.

Metal Prices

SHARES BUYERS SELLERS BALER

HK Bar .. 1033 1635 Fant Also 160

INSURANCES

Upton ... Underwriters

SHIPPING

Asia Nav...

DOCKS, ETC. K. What Dock

Provident

had

the

rejected a suggestion by the rubber manufacturers and the 1000 Rubber Trade Association of New York that the conference 850 203 20 or 2 be held in the United States,

FIRST HAND VIEW

7

40

18.20

(Old) ... 12.03.12.60

S'hal Dock "." T.WO

Wheelock

LAND, ETC.

ཨ་

1K Hotel Ek Land

rts. Humphreys. UTILITIES.

Tram

Public transport has been stowed down by the power and petrol shortage that worker have wasted more time going The already adequate sup- in the factories doing nothing to and from work. Families ware and were forced to accept lower have had to sit in the dark in piles of fuel and power roduced still further, causing wages

for this idle time.

unheated homes or go to bed to In any case the volume and keep warm. industries to close down

the Bo slow

cost of production WETE In additlen to all these The lack of fuel, especially seriously affected. coal, caused a shortage of gas,

troubles the breakdown of the producing transport Even factories

avstem has caused as well

as electricity, which heavy industrial equipment and shortages food, especially

were milk in the towns. offerted. The Lenin Iron and

This is the pleture of in- Steel works at Diosgyer

dustrial and domestic life in rold directly

as given by the

Electric C. 1. O. Steel-the big jump in the prices of rolled pro- supply of coil in two and 3,500 tons

reported nearly way". វ made

cust ducta less than planned on wc- open

from 200,000 members idle, or about of both tin and copper to ning re difficult, and count of the power shortage.

18 per cent of the total. That is now high record level for

of 80,000 in a bit the year. more than two months.

Spot copper opened this morn- On the sales front, the

the mixed

£0 ing

Friday's trend

in its turn also reacted on In- basic dustrial production slowing it down still further,

The

the

raw materials

Meanwhile, amidst

reports

3,000

1.13

The Malayan rubber men. represented by the Singapore Chamber of Commerce Rubber Association. wanted the Ameri- 100 12.0 12,00

cons to see Malayan conditions 12.80 at first hand.

The conference will try to get the use of Associa-

300

100

600 * 12.70

72%

7.05 800 NA

1000

724

1600

1000

1000 G

1900

on

an agreement 73

rubber manufacturers' tion specifications of type for ali rubber shipped from Singapore.

3200 a 7,00

691%

100 or 6015

100 34

18.00

27.70

100 27,70 1000 27.70

1000 # 27.70

100 at 21.70

500 27.70

2000 4 27.10 400 27.70

NEW YORK

STOCK MARKET

New York, Apr. 12. Stocks moved irregularly today with leading issues up or down fractionally and few special issues mov-

At present, much of the rubing a point or more either

ber shipped, from Singapore

graded as "Singapore Type."

A A representative of the

Singapore

merce

Chamber of Com-

G. CroDE

WAY.

Metal shares featured on the with gains ranging to in Cumax

Association, Mr upsido told

correspon-

afmost 3 points

Rails met sup

of available port near the close under the

raw materials, it has not been leadership of Santa Fe, up 24

while Bacing TOED al-

observers saw

to-

possible to grade all rubber points, according to R.M.A. type. It is most a point. only reasonable that we should Market

possible stick to the R.M.A, day'e action

as routine after tpye specifled by the rubber the steady rise in industriala to manufacturers Association

in new highs since October

dents: Since the

wer, because

Molybdenum,

of a deterioration

500 or 27 70

1000 27.70

Pk. Tram (0) 58

Light (0) 10 10.10 500 ‹ 10 & Light (N)

42 1.30 foie gin 12.

500 13

600 6 13.

Was

500 on 13.

..... 30%

JI

100303

100 or 3093

300 6 301

110 3015

as

a 3014

1120

30 Pho

600 304

20.40 100 28.50 copper

London, Apr. 12. that steel might be working its A feature of the London way out of a long inventory ad- metal market today Aestment, the

affected duced 2,000 tons of electro-sic | 11 press and by reports workers Union

Rome cases impossible, owing

to the deep

drifts of snow

and the hard frozen earth, and

More Severe

travellers Comin Buziapest.

Ay rusull of this chair reaction Hungarian Industry is believed to have suffered n which will have drastic were more severe, so that the repercussions DI the 1954 balance between consumer and economie The supply

of coal

We expital goods, which should have Special. already inadequate to meet the been restored

of Hungary's ex- industry.

In 1953 Iconomic polley introduced last has been thrown cut once

a Interfered with transport of In the light Industries pro-terrible set-back

from thr nines toducing consumer goods the cuts almost certainly

coal factories und towns.

demands panded

was claimed that 21,300,000 tons again.

tons. The deflelt in 1953

than

was

tion

woe

by

new

the

лек

an Increase

plan. China

Mail

major

Lung Cancer

the

of the

Deaths Rise

and

rate

was more

since

on up

Telephone INDUSTRIALS

Cement

Dntry

» 009

20.00

27 2000 20.00

300 * 20.00

1000+ 20,90

4.00

300 g 29.1N

500 or 20.00

171 17.80 600 1715 pronounced. close at £249% a ton. Three- STORES, ETC. Farm machinery makers, head month copper was quoted £4 hit for many months, are higher at £2374 n ten. recalling thousands of workers.

This was the highest price for International Harvester Co.,

the London market copper on manufacturers, said It

Last August. It weakence had recalled 8,700 workers in slightly on the day and closed the inst four months, with its at £247 and £235. labour force now at the highest

Tin prices were the highest since April 10 1953. At

£820 a ton which

level since

August, 1953,

this

Hry hardware sales im- morning's opening spot un was

In England are still logging.

Jast

Watson

Kwang Sang

Напя MISCELLANEDUS

Yenglaze Yawnati

Allied

500 kn 20.39

500 26.3

17.00

30 6

140

4.60

139 140 100 z

100

888888

€42593

G4

the United States and the con- 1929. The industrial ference wil alm at getting a concrete agreement on this."

22,

average a new top In early today on the weekend

Some of the problems under accumulation of orders, sagged

of quality beading

are $1.01 at

hoon

then recovered and

manganese

and steadily, closing just 20 centa

lower on the day.

Trading contracted sharply on

Singapore Rubber the decline. Despite a 40,000-

Market

Singapore, Apr. 12.

share first hour-best of the Rinoanted to

ume

shares compared with on Friday

New York Central was most

day

After opening a little higher active stock with a turnover of the market sagged on lack of in-86,400 shares on the final terest in trade. In the afternoon, a when a person could buy stock small enquiry of trade brought in the regular way to take part annual meeting next It is then

138 prices slightly above the lowest in the levels. Future closing were! month. No. 1 rubber per ib. April 9-891 Robert R. Young will seek to expected Mr. May 30-0015 June 60 30 oust the present

New York Sugar

Market

No,

*

point to $214. Of 1,104 frauds traded today,

No. 3 rubber per 15. April 68-50% The share fell bogement.

377 closed his 260

No, 4 Spot rubber umbaled Blanket crepe ·.... No, i pale crepe

004-87

03-68

0624-00 5888

0311-511 United Press.

NEW YORK MARKET

higher, 401 tower and were unchanged:

The New York Stock Exchange Bond volume was $3,882,000.

The American Stock Exchange volume was $70,000 shares. United FreSS.

year, of coal were mined. This was A drasti

system for admitted to have fallen short of rationing of

In power requirements by 204,000 tons. factories

introduerd

but department store quoted at February 15 by order But on

December 15, 1952 Council of Ministers. This gives

Ford was £45 up on Friday's close. the then

Motor Co. sold 30 per cent more Three-month tin at £790 and Prime Minister Mr M

quolas to Matyas Rokos!,

factory every the 90 said

cars in the March quarter com- provides for

£7814. the "punishment” economic plan for 1953 envisaged

Deaths of men from cancer pared with March 1933, at the factories which the

of 4,000,000 tons

Copper iradors said the rea- production

exceed their of the lung and bronchus have

same time announcing its Orst son for the continued firmness by still more more coal than

drastic Increased by 57 per cent, since production In 1852, which quotas

catbacks in nine of prices was would

punitive culs in power, despite 1047,

the steady de- tave been 23,300,000 the effect this would have on

it is stated in the pro- months.

mand for the metal from the for England visional returns

Westinghouse Electric, one

of Continent. obviously, therefore, greater production and costs,

and Wales for Factories using large amounts London

1953, Issued the largest manufacturers

of In regard to the fresh burst admitted amounting to

by week af

by the electrical current have been restricted Registrar-General. The rate perment, sporo confidently of 1931) chants my this has nothing to and equip-of strength in in, metal mer- supplies 2,000,000 tons,

to night time operation, which

of population increased prospects, pointing to a 11. per do Further It was recently ad-also raises the cost of produc-

with the proposed inter

New York, Apr. 12. The cent sales boost in January and national tin agreement, which

New York, Apr. 12. to 007 from 668 in 1952. mitted in the Hungarian press

Rubber futures today closed for for women remained

futures February

World No. 4 sugar Two big retall out has Intely been ignored by the closed today that the coal at present being The gas producing industry is

New York, Apr. 12, produced was 30 per cent lower alto in difficulties. The shortage pared with

steady at 09 _pr

unchanged to 310 to 50 points lower with sales million, com-dets had some bad news to market. The main reason ia

Dow Jones closing averages DB in 1962. in calorife value than that proof coal

report. Montgomery Ward sales sold to be the growing political points higher with sales of 340 of 172 contracts

Liquidation by recent buyers and Moody's Index on has led to increasing Deaths rates

Wall from all forms in March cased quantities of oil gaz baing piped of cancer during the year were duced in 1948.

22.8 per cent tension over Indo-China and contracts.

onestle No. 6 sugar futures put prices in to a steep decline Street today were as follows: below year-ago levels.

the

nod to Budapest

doubis from the Lispe

misgivings 2,185 and 1,836 a million. popu Thus in comparison with the oil fields to be mixed with the f

Elsewhere the National In- which

tho

one point higher to one of the close, with December Industrial surround coming point lower with sales of 184 pattion backing down almost 9/40 10,000,000 tons produced in 1848) cool

tation for men

women|dustrial Conference

men | dustri

Board Geneva conference.

cent a pound from the forenoon 5 iocka present production is therefore

Tin giroles say they expect This has caused a serious de-respectively; in 1052 the figures surveyed the impact of the de

highs. only the equivalent in calorifeterioration in the quality of the

atid were 2,151

1,050 respec-eline by canvassing 157 manu- the price will rise still further,

above the facturing companies, the course well 14,000,000 tonean gas, which led to a breakdowntively. Of the 45,024 deaths

upper May Increase over 1948 of only 40 per of the Budapest gasworks for certified as duo to cancer of the men 12,073 (28 per cent) were

Strong variations from level proposed by the proposed July industry to industry cont instead of the bousted 113 two days, the use of the pipe $1,900 deaths

and even international agreement unless Sept. January.

Jung and bronchus; of the

in the same there uncertainties are quickly among producers per cent,

Further,

of women only Industry. Many expect second dispersed. lines for gas instead of petrol 2,265 per cent.) wero BU Easier Seams

improvement, while has led to an acute shortage of certified.

Budapest, which has

The total number of deaths affected road tuberculosis in in calorie value of the coal transport, which could otherwise from respiratory tus provisional now being mined was said to be hava helped out the railways.

death rate from this cause be-

seemed to agree however that due to the mining of the essler

ing 170 a million persons. This better

seiling and production Lead April cent shows a dicerenso of 19 per

tileloney would play major roles from the previous year, more In the next few months. Much time has been wasted than 50 per cent from 1940,. by motorists going from pump and more than 80 per cent.

voluc of

The cause of this falling of petrol in

scans in order to full quickly One Had Petrol

as regards quantity,

Irrespective of quality.

the plan

This poor quality

coni

:

Tho The cuts in gas and electricity with 28 for 1962,

provisional

And

of

closed

To utiltles do Bond

The spot markets wore re- Comm. future price Index .. ported extremely quiet with No. Comm. pot price index

Moody's commodities index, 425. I sheets Indicated at around 21% cents a pound. Future

21.69

-United Press,

CHICAGO GRAIN PRICES

Chicago, Apr. 13.

32.18

21.73

12.18-20 PALER

United Press.

Wheit, No. #, fedő

Spot

May

Jul

contracts.

Future closings were:

Contract No. 4 (world)

3.40

4.30

3,38

Det.

3.30)

quarter

Tin

spot

3-month They Copper spot

Jesmonth

Jan: Mar. Metal prices closed today In May,

July some are confident the turning | the_murkota as follows;———

3.30 Bpot(cents per lb. fob Cuba) 3511 point has been reached; others

Opan interest: 3,800 contracía. manence or any upturn. were uncertaini as to the per-

Contract No. 6

3.385 May

3.386 closings: -

July

Bept.

Dec.

buyers sellers

Mari

820

May

TRESS

214

243

May

15,00

97

Bept.

6.77

July

Nov.

Zind

Apri

July

5,766 5.51. Spot-(rents' per lb. cit NY ́«x«

4.70 Open

Intmywett 7,824, contracts,— United FreIS,'

with No. 1 Bis epot quotað: 4

ibe Prices: 17% pence per

No. 1. po

Jime

30y/Sai

CAUTIOUS OPTIMISM Meanwhile, executives of loading mutual funds considered

h conservative type of Invest.

08

Exchange Rates

(duty) -Onlled Press NEW YORK PRICES also had bad repercussions on in Budapest to find one with since 1047. The death rate for transport and Industry,

and petrol in stock. On one day other forms of tuberculosis wha

New York, Apr. 12: added to the confusion caused by there was only

Prices of metal futures closeri one pump in 22 a million persons, compared | Iment-ruled, out any noverd the heavy snowfall. The rall Budapest with petrol.

today as follows' in US cents depression, with sentiment rang-peur Th way service has been slowed down still further. Breakdowns have not only affected Industry maternal mortality (excluding outright bullfishness, according to May

for in from dautious optimism to eat open line have on

have been but have had an irritating effect abortion), a busand live, and the Journal of Commerce. The Tia common.

on domestic life. Man and still births is 45, which com-Journal also disclosed that its amer The shortage and poor quality women returning hungry from paros with 59 in 1012 the survey of manufacturers ind of coal have direcky #flected the work have had to wait hours lowest ever recorded--and 100 ventories show that mot of Copper, April production of electric power. before they could cook a. meal; l'In 1081.

the inventory adjustment, waa

on the

LONDON MARKET ›

ng London, Apr, 12. -The rubber market was quiet | 20

didatilament hotiem, légpu

13.001

Businear was done in the local Janvi An official commoisasara

VIRU GULTS | |1oming, at the following rubedine

Bipin (Bireita)

6/78

16.10

thin

Prices beribuabei in vental

No. 2, Yadar

Closing Prices