1954-04-23 — Page 9

Oil Exhibition Opens In London

WORLD'

THE CHINA MAIL, FRIDAY, APRIL 23, 1954.

of Oil Exhibition--- Following an extensive provincial tour in England. the "Stary which has already breu seen by over 100,000 people-has its first public showing in London when I opened at the Selence Museum, Kouth Kensingtou, on April 1,

Consisting of 22 display rases, the "Blory el Ø8" in the

Arst comprettonalve selcatifio

and technical all exhibition designed expressly for a museun pubile. It demonstrates simply and graphically how science in tis various forms is applied to the search for oil and to i graduction, transport and distribution. It is being reproduced in a number of countries over.

This picture shows a section of the "Story of 011" Exhibition photographed provincial tour - Shell Poços, Supira

during the

How Will Iranians

Take The Return

Of The Oilmen?

Teberan, Apr. 22.

Iran's ambitions are now concentrated so strongly on reviving her dying oil industry that the arrival of some 500 foreign oil technicians to help restart it will rank with the majority of people as a big day in modern history.

But the presence of even this relatively small group of foreigners in Iran is likely to present the Government with a major problem in to nations display such a marked aversion public relations. For few foreign influence as Iran.

TRADE and

Further Slight Falls On

Hongkong 'Change

By A Special Correspondent

In the last week share prices on the Hong- kong Stock Exchange have lost more ground. The slight rally before Easter was not maintained and prices slipped back this week leaving the market dull and definitely weaker yesterday.

Losses on the whole have been fractional. This is largely due to the fact that there is no sell- ing pressure at the moment. Turnovers this week have been very low, Monday's being $527,004 and Tuesday's, $549,100.

יד:

L

COMMERCE SECTION

Higher Wages Sought

London, Apr. 22. Lancashire textile firma have received another blow. They have been Inform) - ed that the Called Texitio Factory Workers Associa tion, a federation of

tion of trade unions in the cotton ples, doublies And

and mano. facturing sections. is to

and

discuss at its annual con- ference Д resolution de- manding a 40-hour weck Unstead of 45 hours) an increase in wage rates of 124 per cent so as to

maintata wages at tho same level as at prezenk... United Fromss.

NEW YORK

STOCK

MARKET

t

Big Increase In Overseas Investment By UK

London, Apr. 22. Overseas investment by the United Kingdom increased sharply between the two halves of last year, according to the Balance of Payments White Paper.

Lending In the first six months totalled £48 million. In the second six months it reached £169 million.

net

Investment in sterling area development accounted for by for the largest part of this. In the first half-year, capital transactions with the overscan sterling area resulted In a U.K. investment of £80 million, of which £1,000,000 was offset by the repayment of Government loans.

Between July and December, this investment reached 190 million. Government lending of

by £1,000,000 Wa

the was offret repayment of

of a sinillar amount or" Government loans.

ferensing teinpy of this tho by the UK. in

sterling are reflects

Government at the Common-

The market's current, Dairy Farms have lost about weakness Is attributable 10 cents over the same perimet,

This gives some indention of mainly to the critical situn-

the overall losses suffered by i tion at Dien Bien Phu and the market leaders" over also do the continued fall in inst fortnight. They do

Trst 4mtek of Banks.

keanwount the price

seeins no likelihood, House Street

seems pessi. certainty

of uny improvement i mistic about the chances of

this sentiment

weck #ny tangible Solutions of

repounding enterging from the Geneva for the French Union forces at

Dien Bien Phu

which Conference. One broker

strengthen the Western 13 at stock market late today. the undertaking given by B.M. said: "What will there be the Geneva conference. after fieneva--American in- In fact many brokers tako

gloomy view tervention, an uneasy truce, such or a stalemate? What dif- market at present that they do

Possibility of ference does it make?" marked revival in Interest be-

Brokers Also believe tho marke! was depressed by Peking Radio's ominous charges against

United States of "military ventures” In Indo- China

its warning that Communist China woult cer- tainly not refram from "doing something about armed aggres- ston."

Umon Insurance

their

หวย

hvidend

artnounved of !!

making 12 for the year which

น

not see any

fore the announced.

ziext

New York, Apr. 22. Demand for aircraft victory manfacturing issues

the New holstered

York | lending would

of

interims

TODAY'S SHARE PRICES

the more

thum

41

Gains in the aircraft runged

a point with few issues showing much wider Elsewhere iniprovements gving. 21

were bartional with a number their pre- of issues uro

vloux close.

(From Our Correspondent) strady

is unchanged

hand at

Untes changed $800 yesterday

which is a reasonably Agure.

Yaumati

opened

holding at

the 1.137 issues traded. 413 closest lower, 100 moved higher, and 284 held unchanged,

Sales totalled 1,750,000 shares,

day.

compared with 1,870.000 yester

The market improvement reflected the ability of the list t hold against moderate selling. Traders were beartened

Fisc

over

news and improved business

in short interest lo the thest point since 1932. in the aircraft manufacturing Issues, Denaglas Aircraft rose 5 Dhectors of

onc

oversens

maintain

wealth Economic Conference of December, 1952, and Increase the flow of U.K. investment in Commonwealth development projects.

The Balance of Payments White Paper also reveals that the sterling balances held London by Colonial territories Increased ogain last year by 283 million to £1,181 mullion. But the rate of growth In the half of what it was second six months wis only between January and June.

SMALLEST DEFICIT

This partly reflects the cline of dollar earnings from the aule of Colonial raw minterinla since the Americon recession set in.

million with the dollar Aren last year. This was the sinnllest dencit since the end of the war and compared with deficits or $483 million in 1952 and $1,208 million in 1981.

A deterioration to the UK's current payments position with the dollar aren from a strplus of $64 million in the fest hait of the year to a deficit of $94 million in the second half-year Wi

chiefly due to the end-of- year repayments on the Ameri- Can and Canadian loans all other "invisible" Hema.

The sterling area's gold dollar reserves rose by $072 during the nilion $2,318 million,

year

242

tu

Indonesians Not

Ready To Resume Talks

Singapore, Apr. 22. The Indonesians are not lea position to name a date for the resumption of the informal" trade laiks which were held in de-Djakarta early this year.

This statement was made by of the Commerce !hr D!«++ee4 y- and Industry Department, Mr T. M. Hart, whe

who headed the Singa- In the second half of 1983, pore delegation to Djakarta. He Business on the Stock Ex-points to $121

was commenting on a change this morning amounted the company yesterday formally the Colonies surplus with the

report by voted to ismic

additional dollar

the Straits Times correspondent arca was $138 million, for on Monday to $506,708.40. Noon quotations You

share

ruch shore held.compared with $189 million in

said that Djakarta which and the morning's dealings;--

the first six months. Other aircrafts met demand be

Indonesia would not send a de- causo of the

In strength

The total Colonial surplus of legation to Singapore to discuss Bocing Dougins.

Alrernt | 4807 million In 1033 compares trade relations between the two

with surpluses of $370 million countries. jumped 8% points to 3794.

In 1952, $40 million recent General Electrio,

in 1951, Quoting Indonesian Economic favourite, continued to advance. and $408 million in 1850.

the sald "Singapore Including defence It

jumped 1% points to $1134.

Bald Other electrical equipments U.K. itself had a deficit of $10 colony and should further trade Armed.

Business Machine stood out in the blue 230 ur 12.70 chips with a gain of 435 points

$332 Steel shares firmed.

Ferries strongly at $144 after being $142 before Easter,

back again SBARES DUYERS BELLERS SALES but they slipped yesterday to $142, Hopes of a

BANKA bonus

HK Bank... 1043

45 1048 East Auto interest alive in this share.

INSURANCES

Union

issue is stili keeping

There were

no

sellers of SHIPPING Banks yesterday at buyers' bids Asia Nav

K. Whart... Dock

of $1,035. The last sale was at DOCKS, ETC. $1,650 but since then. London register shares have eased back

£2

100

170

250

1.25

7136

17.00

RUBBERS IMPROVE

Provident

(0) Bhal Dock Wheelock LAND, ETC

KK Land

12.00 13.80

150 700 773

400 709

to

165 6 BU

or

for There was sume inquiry Amalgamated Rubber shares yesterday and prices advanced 10

an 96 and 97 cants,

Im- provement of four cents on the werk. This is due to the better rates ruling al the Singapore Rubber sales.

Titu Stim Lund Realty UTILITIES

Tram

Star Forty

35

230 19

1.70

2 2.03

Of other issues, Lands utilities weakened

in

and Ula but Lands

C. Light IN : 1330 13 30 400 Electric Telephone 27.00 INDUSTRIALS

2000 20 2500

Cement

outcome of centuries of People here explain that this is the invasion, of foreign intervention and more recently of Big Power rivalry over this strategically vital area which has made it seem that the country's destiny is decided not in Teheran but in Moscow, London Washington.

They say that alunaugh the number of foreign o) technicians required to operate their

500 m may only be industry number their importance is far o is the chief higher, since source of national wealth,

the in 1931,

industry employed 70,000 workers, second in size only to the Iranian State rudwayn.

لاره

Foreigners 1 Abadan may feel that make m15 Iranians their battle to optionalise oll, which they thought a victory, has been turned into defeat. may

Lime encourage followers

Dr Mozadegh formerly the hero of nationalisa- Ton, extreme nationalists and Coinintusks, nel those whu prefer bankruptcy to foreign in- Iranians also claim the right flumice, to try to re-assert their

their own industry | votre in pubite affairs, outskic Hukdance

to operate

without

control. But Western oll com- Life Improved

panies Interested in reviving

Life in Teheran for Western

the Industry reply that they are forigners, especially British and tuvesting large fortunes

and American, improved considerably Imnian vil Installations must therefore operate day tez day running in order to recoup quickly the capital spent.

between

after Gateral Faziɑlial, Zahedi became Prime Muuster follow- Ing The overthrow Mossadegh,

of

Dr

General Zahedi, 021 army with a brilliant record for Meer

local tribal lider when risters began stoning their offices.

Americans sufferent Larget of *Sl breause feeling Englishmen lived

the and-foreig

very Iow Ar Teheran Just summer Dr Mossadegh's oil nationalisation lod British Levbnicians to evacuate Aludan in 1951, while in 1952 he broke Off diplomatie relations with Britain.

Feeling towards Britons among Iranians and even the Inus educated and widely travelled Irantana, is expressed simply in the one word "exploitation."

Towards Americans, mosi Iraniana, apart from those who repeat prepared slogans, have mixed feelings.

International

Motors

100 or bets rose by small amounts.

The NY Stock Exchange bond volume was $3,122,000, and the American Stock Exchange volume was 530,000 shares.

Dow Jones closing averages

.... 27.00 27.80 300 2780 2000 g 27.70

129

Were: C. Light (0) 10 20 10 30 2857 14.20

330 ut 18.30 30 industrials 1340 p £6.20 2) ralts

13,20 10 utilities 303 69 locks 40 bonds 27,80

17.30 17.30 17.50 500

500 # 17.40

2020 2016 3:00 a 23.30

17.70

week's depressed market

the lust fortnight over are only lower by $1 while the

STORES, ETC.

Dairy XD rights have only lost 50 cents

Watson X Ra In the last eight days.

Crawford 29.70 Tramways sold

$27.70 COTTONS nt

7.30 7.35 Textile Carg yesterday compared with $28,10

Monday

Apr 12, China MISCELLANEOUS

Yanulate 0,40 Lights

516.20 aro

compared

40 with $10% on that date Hongkong Electrics are $30% compared with $31

en

and

Yumati

2200 * 6,40

143

While China's Rubber

CommSingapore Rubber

Loans, Gifts

The United

eight Western oll companies Bubduing stubborn tribesmen Ionas, gifts.

summer,

Abadası

and

the all

In

1951,

ald

14

Market

because

ان

Buying Scheme

311.00

60.30

--United Press.

New York Cotton Market

con-

New York, Apr. 22. Colton

today traders centrated their attention to the as the May delivery nearby

notice day on Monday ap- proaches.

Later positions tagged pond-

fret

Under Reviewing further crop news

Colombo, Apr. 22.

#

ald,

The Potters'

Protest:

A Poor Idea

Ministry circles, the report

talks

is a crown.

Indonesia between

Singapore be necessary should be conducted

and they

between

representatives of the British and Indonesan Governments.

Hart told the United

Press

today the Djakarta taks early this year were

Informal discussions between officers of the trude departments of the two Governments. He said that the Indonesians had been in- vited to another meeting in Singapore early in May.

Washington, Apr. 22.

He said that a reply had been The United States pottery In- dustry, which is trying to cut received to the effect that the back Imports of foreign china- Indonesians were not yet in a ware, tried to exploit intense position to name a date as they public interest in the Army were still considering the out- McCarthy Investigation today come of the previous discussions, Mr Hart declined to speculato to put across a little protection-

оп the meaning of "British re- ist propaganda,

presentatives"

the Straits

ho

room.

workers."

the bottom of the

were

કા

labelled "Potter New York Sugar

Market

•

New York, Apr. 22, World No. 4 sugar futures closed today unchanged to 2 points lower. with sales at 13 of the contracts.

Domestic No. 0. auger dutures closed unchanged to one point lower with soles of 300 con- tracts.

Future closings were: Contract No. 4 (world)

May

July

Capitol police decided that it Times report from Djakartu. The report further quoted Indonesian was a poor idea.

Reporters arriving the Economic Ministry circles

rt

saying that it was not possible Senate hearing room where the first round in the heralded in-for Indonesia to conduct official vestigation was about to begin talks with Singapore direct.

The same circles were quoted found stacks of pottery ash trays on their desks. Each bore as saying that "provocative re- the legend-"If it's America, ports on Singapore- Indonesian and 11's

worth protecting the trade are still being launched from Singapore," United Press. on American chinaware Industry- Washington developments

50,000 form legislation, It dit negotiations

On Closing around the best levels the Iranian Government und

States has sent

The entire procedure of pur- for the day the list was up 3 technical advisers,

Singapore, Apr. 22. chasing rubber for Ching, is now to 12 points. The market open Association of America." five American, une British, one

tuschera,

The market cased off during under review by the Ministry of ed unchanged to points

the Capitol police collected Cquip- French and one butch-proceed and quashing local revolls, las missionaries,

army instructors to the day

profit- Commerce and Trade following

New Orleans closed trays and returned them to the smoothly, foreign olt trennicians applied his ability to the tough ment and

People here know taking and at the same me, protests from both producers higher.

distributor, identified as Lyle should be in Abadan by mid job of keeping Iran quiet and help Iran.

law-abiding.

this and arc grateful, in a there was lack of support. It and shippers, it was learned to 17 points higher.

went to

of the Jones, a representative May contracla Nowadays, Americans can guarded fashion, for In

Iran

closed slightly steadier. Future today.

over July compared Posters Association. premium the On An Island

One source said that in closings:--- drive home from their Embassy and intervention, from centuries

with a discount of 10 points q

Jones expressed dismay past, when there WOS

week

Persistent demand refinery, and offices without being stoned of distrust of outside influence,

Bgo. No. 1 rubber per 1. May 014-15 market, there were 15 shippers from mill interest, along with

was ushered out reputed to be one of the largest or Jerred at in the streets. have become almost synonymous, Some feeling of jealousy of

June 11 After the rubber trade with feelings are cx-

and scattered sales July If not the largest in the world, Anti-British

the spot Arms

#didn't consider it adverti the riches of the United States newspaper columes, in pressed which stands on an island

No. 2 rubber per 1b. May 10-50% China was taken over by

United sing," he explained. with Iron's

No. 3 compared

50-39 Government they had increased had put more strength to the poverty the mouth of the Shatt-el-Arab but not with lirickbats.

8711-5340 No,

spot inonth, 40.

Prese 604-61

Trading volumes and open which

Spel rubber unbaled relined On the yellowing walls of the may also lie behind the lendency

Under the present system the 2014-0714 of American Embassy

Blanket crepe nearly half of

central to be suspicious In all Middle East British

in the Exchange "to- 00-00 Rubber Commissioner buys from interests crudo oli.

to some Ameri-No. I pale crepe Teherun, however, can be seen aid, according

these 40 shippers each of whom day were: Who the foreign technicianala a long pinkish swathe of paint cans.

is allotted a fixed quota, Rubber Month One young American diplomat "Yankeo 0% will be depends upon the out- which obliteraics

producers have protested that July come of

expressed his views this way: Teheran negotiations. home" slogans. This is a relic

lowing to the quota system they Oct. New York, Apr. 22. There are several theories, and of the time, eight months ago, "I guess it goes right back to

Rubber futures today closed are experiencing difficulty In Dec. the most popular one is that when it was unpleasant, and St Francis of Assis. When you

their rubber-United Mar they will

evenly sometime (tureigner). be almost

to bo vo you have

to be humble. 1 to 19 points lower with sales selling

Premi of 82 contracts, We give, but we do not humble divided between British and "Marankre"

handful of

who Americans, with a

One American

lived ourselves."

Spot No. 1 Rs were quoted the Dulch and French.

through the

In ora of mob rule

political sphere, General Zahed's Iraniana resented it when the Their arrival in the oll town just before

took command, will im- forces

showed United States aftor. Arst trying mediately boost local prosperity visiting, Amerleau journalists to arbitrale, eventually aided Britain gainst Dr which slumped badly after the recently four dents in the side with

Mosadegh during the of dis- British evacuated Iran in 1951 of his new car.

gol those driving home from | pute. "I Howing nationalisation of the

Many people regard Dr try by Mohammed my office last summer," he Mossadegh.

Mossadegh as a great leader, and plained. contractors Will Abadan

In those days, most Americans they tend to blame his flownfall hotel on American Intervention talks in one Teheran

London, Apr. 22 : household stayed supplying Tenure

But provided the

The rubber market •Was Brunei goods and food to them, and which had thick wooden, brass- focal people estimate that each studded

These were provo Buccessful, life

at 18-5/16 petten për 1b. Prices: Pads, foreigner

will employ three kept shut when Communist-led foreigners and foreign en steadier with No. 1.spot quoted an

demonstrators paraded the streets will be more secure and agres No. Tu put 1816-1816 servants.

Throughout the country, and of Teheran shouting "Death to able than it was in 1983, before

Seftergent House term: ET General Zaheul took charge of Teheran expecially fri

which Yankee Imperialism."

Government. the In the provinces, Americans holds the political reins of Iran, the presence of the group may

If the oil talks fail,

which in Julydent In Isfahari; rozardod es. Improv General 230 min

mlies mouth of Teherarí, nouities might arise foo will give economic stability and members of

of Abadan itself

spite of the fact that all ravenues

dangerous,

docte.

Uvod through

even

тоге

elimen

Amor cap Zahedi which would last ován

will eventually cut day to day technical advisory team fled his skill in maintaining law and living costs for everyone.

into the high walled home of alorder, China Hall Special, -

-United Prem. NEW YORK MARKET

May

CHICAGO GRAIN PRICES

September October

January Maroli

Spat-cents for 1b. tob Cuba) Open interest: 3,124 contraris. Contract No.

Volume B3,400 18.400

Open interest

67X100

1,500

234,700

13/700

203,100

0,700

375,000

May

2,600

154,000

Chicago, Apr. 22. Prices per bushel in centa:

May

Tượ

July

90,700

Closing

Oct.

300

Total

106,000

at 20% cents a pound. Prios: London Foreign

01700 1,880,000 bales Wheat. No. 2, red United Press.

Prions

May

Вро

Min

May 214% (11) 15(L)

213-42336 2013-201 210--10

September

Karon

May

July

Sept.

2230

Doc.

25,30

Exchange

Now York. Apr. 22.

Mar. May

13.00

23/2

London.

MÜnited Press.

May

LONDON MARKET

New York

Montreal fruktardamT

looked Mark Lamberg

Copenhagers

NEW YORK COTTON PRICES JULY

Sept. Doc. Closing Prices Corn, No. 2, yellow

May

Blockholm

***NEW YORK

Exchange Rates

aglanden

Oct/Dec. Jan./Mar,

General markets, cif de April MAY

Julia

Sukpote

Boot

May

Zuly

Deo.

July

ex-duty).

„vqustad.

3,75b

0.70

8.3

Spot(cents per ib. eif NY

Open Interest: 8,298, contracte United Press.

LONDON METAL PRICES

London, Apr. 22.. The tin markat was glendiler while lead, copper and zire were Arm. Prices, closed toddy in sterling per long ton as fől.

Tin

Copper spot

Lesd

nited.

---