1954-05-21 — Page 9

Hollywood star Olivia de Havilland, who wears white adik Jersey hat, talks with Him Olivia, newly- actor Dennis Price at a reception given at the Navoy Hotel, Strand, London. engaged to M. Pierre Galante, director of the French magazine Match, is to play the one- Kate O'Brien story.--Reuterphoto, cred Spanish Princess Eboll in "That lady', Atm of the

Spotlight On Smithfield As Private Trading In Meat Resumes

A New Lease Of Life For

London's

Famous

12th Century Meat Market

London, May 20.

London's 800-year-old Smithfield Market, one of the world's biggest meat, poultry, and provision centres, is pre- paring for "F-Day" (Freedom Day) -July 3.

"F-Day" is the day on which the Government will restore the British meat trade to private enterprise, after 15 years of state buying and handling of all meat.

On that day, Britain's meat traders will resume the purchase and distribution of meat from all parts of the world.

Southend will once again tiers g fain come a "be" clearing house for 1214 mit of Australia. New

Zealand Argentina.

and Bertan berseit,

Deuguay,

Pantry, huron and eggs from

British farms

II

wing the Tony being offered fry Hussa PEJOR abel tive suferliste ruities

Subtedl will operate with only exter

GovernmTAL 45]

4-y

Angi suchegar

Stemment Hasol 13 venis tod of to run and guaranlegi mantrain

prines

TE

and hom

countries as Panadu, the Nether-Australians Jands and Denmark will also be which SGH

passing

Bergh

Trailers

te-acre

private

gawling

the City of London. Smuthfeld has

ben dormant stuce

ti 20 markl +il

1107

arfuntly

But

I has been merely a channel for

meat and poultry allocated fo butchers under

direction.

to N

rsit

Artralin

It the munum prices, ALE NOS roached in private trading the Britsit Government will have Jul

to nike up the difference

THE CHINA MAIL, FRIDAY, MAY 21, 1954.

| 1855, the Corporation ut London removed the caltie market and the slaughter houses to Islington, two miles to the north,

The present Smithfield market was planned In 1860, with an eye to the future, with wide Poets.

entrance several

Hales, und great underground spaces to be used as rallway depols with left into the I. sket.China Mail Special,

He

Loses

Govevement

the trade ses little liked f this, and I confident that the

His

Will

The return of the meat trade Australons will continue to re-

to private enterprise

gradual.

be freive high prices for prai mend

for years tur Com

Smithfield

Traders will not immediately

be able to range the world.

Ing incat

held

market

ake the waitstaks pultom 00

of Food,

UTVES

Jample London tie|l: il 1. floating

powaled int Cipcate: the Manustry by will have to be sold Best, and it with

with a large before they gether may be December

population

provincial eustamos ap forth as Edin- burggh in Sell

are cleared

In the meantime, the men of Smithfield

practising Will again the skills which before World War 11, made their inars kel known all over the world. They are confident that they will be able to take up the threads of their work almost where they left of in 1939

Housewives Will Benefit

For months past, they have

"alerting" been

their agents throughout the world, preparing for "-day.”

Voice Every Day!

Teluk Anson. May 16. Believe it or not, there is man here who is unable to speak between sunrise and sunset.

In this

state Muslim And

It has esl tomuce with a cuquely –1 15,986 kar

has been mrat and re on for 490 fourston | since the start of the lorries to unbad or bad at any fasting month on May 4.

It has hanging rapu- he has also been in this state me time city for 1,000 tons of meat a for the past five years at the day on over 15 miles of display | start of cach Muslim fasting nulls.

month.

But cun

he immediately regal his speech In the evening when the Muslims break their fast.

In Sinithfield. Butchers haggle over prices and rats just as the custs.mers do. Art deals, involving perhaps thousands of are Bented by worst of pounds mouth.

The

prices

This

And the strange thing about it all is that he becomes wholly articulate again in a fortnight

60,

or ruling in

They claim that, under pri- vnte trading, both overseas pro- market, traditionally, affect ducers and the British house-prlees in meat exporting coun- wife will benefit.

The Commonwealth and foreign producers, the Smithfield men say, will get a higher pren for the better cuts of meat than they did under Government bulk-buying arrangements.

On the other hand, the cheaper cuts of meat will come down

In

price under "free enterprise" buying.

The meat traders also claim that Smithfield will be able to produce betier ment for the British

than the Ministry of Food was able to

secure.

here,

consumer

butchers have bad

tries all over the world.

Henry VIII

Fixed Prices

The man is Mr Thirupayah, a 28-year-old contract labourer the Teluk Anson Govern- ment rice mill

at

WILL GO IN TIME

Mr Thirupayah tried to

TRADI

and

Some Utilities Lowest For 7 Months

Panic Selling

Cuts HK

Share

Prices

By A Special Correspondent

Prices of a number of utilities touched the lowest levels for seven months and Dairy Farms fell to its lowest point since last July when further heavy selling pressure continued on the Hong- kong Stock Exchange this week.

Brokers believe that Tuesday's slide was started by a wave of panic selling by speculators and that both speculators and investors lost heavily as the recession gathered momentum. Electrics were at one time down $1.10 on the day before recovering to make the net over-all loss for the day 90 cents.

Yesterday's prices showed that although there had been a slight recovery by the market as a whole the tone was still uncertain.

the

צי

Delta Jithe

HK ute

ד,1411

in

Finally, let's see how prices There are numeratis advanced for the current weak- | fared over the last week: ness of the market. One is that it is merely a corrective resetion following The recent boom in share prices, Another is that the

"Dien

Blen PM: Mitera" have now been succeeded by

River

May 13

21244

1JOTIN

Wheelocks

1650

#30

20

1633

[140

1 15 #13

5503

C Prox

13

11

33

7 03

#10

MK ind

34

544

Tromm

26

24 60

23 20

Ch Light

old

14,70

Frew

Electrics

1170

13

10.00

2000 17

phones

78 20

D FAMS

Schiel

23 20

17 20

21 00

14 10

14 20

11

20:30

23 40

221

m-middle,

b-liyor.

Yet another reason is that present strength of the local gull market (priers were up a point and a half yesterday) has nitiueled many people uway From the Stock Exchange, The gold market owes its strength at the Indo-China present Bighting n the demand for export to Singapore,

1

Another reason advanced by a market observer yesterday

ddle money' WOR that the which was so plentiful In the Colony a few months ago in no longer

t thmi

some people

conserving their money in preparation for 517 expansion in trade with China.

JJI

As the no 1 can see it would

be premature at this slage even to consider the possibilities uf on urease in trade with Chlua Wnts] the outcỤN I

Geneva tulks is known.

arr

the

at

ob- the

There

some market servers who argue that present tem: ion in Indo-China is not so much the enuse of the present market weakness as a

--neller,

TODAY'S

SHARE PRICES

(From Our Correspondent)

Business on the Stock Ex-

contributory factor since, they change this morning amounted Noon quotations Akue. the Indo-China campaign to $128,221.

and the morning's dealings:--

SHARES BUYERS SELLERS SALES

BANKS

has been in

for progress now seven years and each year has produced similar crises to the present ane.

MORE SIGNIFICANT

Greuter signliteance is given | to the present crisis beenuse of (1) the apparent reluctance of the French to carry on the war single-handed any longer and | (2)

talk

of establishing military alliance of Far East nations to prevent the continued southwards

of advaner

the

Communists.

Observers argue that as

HK Bank

INSURANCES Union XD SKIPPING

Waterbunt Asia Nav,

DOCKS, ETC. K. What Dok Pravidlest (Old) Whceluck

COMMERCE SECTION

Badges For Diabetics

Bydney, May 20

Australian diabetic alleters are being fastráð withi special badges 10 Rave them from being arrested da drunka

Prealdeist of the Aus- tralian Dlabelfe Asocia- tion, Miss R. Board. ex- plained:

Diabetic aymy-

Lasz are often very like those of drunkenness and number of mafferers have

been picked up by its policy.

"The palice cannot

De blamed. bui

wrongful Brrest detention would be fatal Гог д diabetio ja need of treatment.”—Chines Mail Sprelal.

NEW YORK

STOCK

MARKET

Business Decline Halted

US Officials Claim

Washington, May 19,

Government economists said today that the latest Federal Reserve Board report shows the business decline in the United States has been halted.

Construction work continued

at a record high during the past six weeks, the Board said. And

the Bijisted Industrial Pre-

duction Index did not

decline

for the first time since last July. Government economists quoi- ed the report to support their contention that the business dip has hit the bottom. But they to not

Immedinte expect any upsurge of new peaks of pro- pority.

They predict that business wil continue n! About the

present levels until autumn. A definite improvement inbtht

New York, May 20. Two stocks New York start then, they sakl

The production index declined Central and Chrysler Cor· | from 125 to 123. But this was

enlivened poration

the normal for this time of the year New York slock market 10- | and, after seatonal adjustments,

the index fyure vos stil 123- day.

the same as in March,

The

general run of stocks was fractionally higher.

Volume

moderate- wtas 2,070,000 shares against 2,170,-, 000

SLIDING SINCE JULY The adjusted index has been sliding since last July when it hit the all-time high of 137 for

Shell's New Project In West Africa

New oil storage facilities, part of a £2 million expan- sion programme designed to improve oil supply service to shipping and inland con- sumers, are now under con- struction in West Africa.

Started by the Shell Ol Co the scheme Includes new bue- kering foelfiiles at Dakar, ad- ministrative

commercial capital of French West Africa, and a large occan installation at Apape, the principal port of Nigeria.

ant

station

yesterday. Central climbed 11⁄2 points to 5234 in the day's most active the second 1ime in Three trading as the many inceta of months. the battle for control of the 1953. rood appeared lo be working However, the decline stowed bullt on land reclaimed from

down at the end of last year | the wu and swamps, and since then has dropped only three points below December's 120.

production the output of the nation's factories and mines with the 1947-49 average taken as a base Agur of 100-United Press.

It was 180 In April, Both the bunkering

and the Installation are being

ire

out. perhaps in time for the ahnul meeting

scheduled for Mor 26. At that time stock- Bolders

to decide between the present management houd-

ed

William try sa

White and financier Robert R. Young, who seeks to dust the manage - ment.

Interest in Central was stimu- lated as Chano National Bank, holder of 800,000 shares of dis- piled Centrul stock under a vot- ing trust, turned

for the shares pursumit to court order to purchasers Messrs C Murchison and Sid W. Richard-

Texas

and Capitalists

friends of Young.

Chrysler textured

from the opening, moving higher in active

$62.

Olla and metals were strong performera with gains up to 2 puinis.

The Index incasures

Indutrial

The bunkering installation at Dakar, which is expected to be completed later this year, being constructed on 10 acres of land reclaimed from the sea by the widening and strengthening of existing brenkwalers cost of approximately £25,000.

at

A total of four tanis euch of nearly 16,000 tons capacity for fuel and diesel oil will be built

Singapore Rubber this year, and two more of the

The

Market

Singapore, May 29,

market rubber

the

WHA Inovning Future clos-

trading. It closed up 1 points irregular during

but closed steady. ings were: No rubber per 1 June 61-B1!3

July 044-01 No 2 rubber por h. June 21-03 Nu. 2 No. 4 Sput rubber unboled Blanket grepe No. 1 pale crepe

513 Or 1,140 issues traded, were higher, 328 lower, 305 un- changed,

The N.Y, Stock exchange bond volume was $3,020,000, and the American Stock Exchange volume was 480,000 shares.

Dow Jones closing averages were

1-0114

-

69-60 09-73

United Press.

NEW YORK MARKET

New York, May 20 Rubber futures closed today

same size are to be built later.

three In addition,

biturten thèle with a total enpacity of almost 9,000 tons, will be established for inland distribu- tion.

Tankers of up to 18,000 tons

discharge

the Пока

2017

installation.

rai

At Apapa, 14 tanks are under Construction for the storage of all mula petroleum products including bitumen. The estimat- ed cost of this project is £800,-

The site 000.

Is 35 acres of swamp land, now being TO claimed by cut and all methods involving the removal of some 100,000 tons of 100,

earth. Dredged sand will be used for filling In the site of the bitumen tanks 100.70 attract follow-through

Futuro plans for Lagos har 180,31 mad

0 continued lack of bour foresee

dredging to -United Press.

provide berthing facilities for tankers up to 18,000 tona.

Zuture price index

323.89 unchanged to 15 points lower 10082

50.01 with sales of 31 contracts. 121.68

Failure of an early advance to buying,

CHICAGO GRAIN

1135 21030

30 industrials

20 rails

630 840

15 utilities

nts focks

40 bonds

Comin 400 20.00

| 1995

130 5 03

13 20

500 13 250)

0.00

↑

far

LAND, ETU.

FIK Hotel FLK d Realty

B.13 0.30 53%

as Hongkong is concerned ila security

៩

no greater danger UTILITIES

than it has

since ever been 1949. "Nobody has any designs on: Hongkong." sald

ob-

server,

one

A glance at yesterday's market report tends to confirm

art

..... 2811

1.05 1.023

Tram...

20.30

100 500 24.90

20.20

Star Ferry

C. 110)

130

C. Lig (N)

XD

Electric

Telephone

14

10.00 11.20 2000 ce 11 2:30 22 9 20 23.20

1500 14.10

23.70 300 22.30

0.99 7.10

4000 475

5.85 5.BO

143

that the Indo-China "Jitters" STORES, ETC.

merely contributory

COTTONS factor. For while prices as a Texilios

have whole

declined, Belling MSCELLANEOUS Interest last Tuesday was con-

... 0.80. fined to Lands

und

few

selected Industrials. Electrics Iost 80 cents on the day on a turnover of 7,300 shares, Dairy Farms

were down 50 cents turnover of 9,700, and Lands lost

when 2,300 $1.50 shares changed hands,

get

U11

Before World War II, the himself cured through a Malay wholesale value of trade con- ducted in the market exceeded who told him that his affliction £35,000,000 a year, while I would disappear in time. 1938, meat and poultry passing Не through it totalled 461,987 tous,

to

as." smooth

Is A

it

There was no specific reason for the

Эл weakness

Vingino

Yaumati

LONDON METAL

PRICES

werd

--10]

London, May 20. All metal markets was amicted with the "eurce" five years ago, accord-

these stehdy. Prices closed today in Ing 10

sharca, As I sold a few weeks sterling per long ton as wife Letshemuni Pariche, HA

wle said

ngo, Dairy Form's first quarter lows:- hip

report was better than the one

corresponding

his

LITTLE COMFORT

There are records dating back to the 12th century describing troubles began in Slim, where for the Smithfield as a livestock market |

unwittingly disturbed In 1174, Fitzstephen, clerk to St tcmb of a Malay Mail. Since meat rationing began Thomas a Becket, described

Meanwhile, neld

where every

| remains enlm and cheerful. celebrated accept weakly "allocations" of Friday there meat, regardless of whether it rendezvous of fine horses to be knows that the spell will break and he will be normal old, what their wha

and in another quarter are coo

again. That is until the next placed vendibles of the peasant, wanted.

their deep flanks, fasting month if the spell is not Now, London and provincial swine with

of immense completely broken and the curse butchers will be able to "shop" w

fitted. China Mail Special. bulk." at Smithheld as they did before rationing started, salecting meat

customers

and

Oxen

41

London, and the

Smithfield was also the play, and making use of the market's archery and tournament field of cutting facilities.

Prices for the better cuts of the City of

public moat are certains to ciso alightly #pproved on the home market, but thereggings, tortures and execu-

tions,

will almost certainly be parallel roductions in other varieties.

Russia Pays

"Fancy Prices”

spot

for

MARKET

consumer

interest in the spot market, upret the terminal market in late dealings.

Indicated Spot dealers unchanged basis of 221⁄2 cents n pound for No. ! Ras spot. Future closings were:

July

22 1уть 23.10

an

23.33-05 21.79

September

December

March

May

23.70n

July

23.7911

United Press,

LONDON MARKET

Chleago, May 20 Grain future were irregular the session on during most of the Board of Trade today.

Wheat was down slightly at the opening, later picked up a few cents on short covering, Favourable but closed weak. weather

fear of conditions, hedge when the new crop starts to move more abundantly, and lack of demand by flour buyers and exporters were the depress- ing influences on wheat prices,

Western Germany is reported 19-1/16 pence per lb. Prices: to be in the European market No. 1 Ran spot

Settlement house term

London May 20.

The Apapa installation, which will be the main Shell distri- buting centre for the whole of Nigeria, is expected to be com- pleted later this year.

New York Cotton Market

Cotton

The rubber market was quiet uinued with No. 1 Res spot quoted at narrow

July/September October/December

for about 165,000 tons of wheat outside the International Wheat Agreement, which also had an effect on US bread grain trad-January/March

April/June

General markets,

ing.

Profit-taking predominated in May the soybean market today, with Jun July contracts meeting most of July the pressure.

Wheat closed unchanged

to

19-1012

191-1914

10-185

19-194

1996-1927

103-1071 cif basis, ports:

18-23/15-19 18-19

10-10/10-101s United Prem.

New York, May 20, futures today con-

to operate within # range for the fourth session in a row,

Keeping within an eight-point range, the list dosed off 2 tn 8 points. The market opened off 3 to up 2 palats. New Orleans closed unchanged to 4 points lower.

Small

consisted dealings mostly of professional opera- tions involving routine mili and with liquida- chipper buying,

off %, soybeans, off 2% to 5% New York Sugaron and hedge selling supplying

cents-United Press.

Market

contracts,

Trading volumes and open Interests in the Exchango today

were:

New York, May 20. World No. 4 sugar futures Month

2 July closed today unchanged to points lower with sales of 472 October

December contracts,

March Domestic No. 6 sugar tutures May 1 point Jiy losed unchanged to

con-rota higher with sales of 140 tracts.

Scattered liquidation with the caster raw situation wolghed on the world contract, Conversely, steady futures held domestle with the better tone in domestic raw market. ...

Datober

Volume 23,400

Incarext

0000 11700

033,400 244,800

7,100

0,100

1300

800.

$5,700

3,076300

-United Pro.

NEW YORK PRICES

Paket New York, May

Clostner Prizem May 19 May 20 3340

CHICAGO PRICES

Chicago. Muy 20. Closing prices por bushel In cents: Wheat, No. 2, rea

THE

the

perfod

last year.

Mr Thirupayah

He

spot Copper pot

3-month

May Lend

Aug. zine May

buyers, sellers

126-

Spot

100m

$240 725

23032 210

14

940 241 Der.

May 1901) 193% July Sept.

103-1043%

1984-

2039-3

20031

Di

#3%

932

Corn, No. 2, Tellow | Spot

10246

to

FISHERMEN

can give little comfort those who want to know how the market is likely to fare next week, Last week the brokers Prices of metal futures closed thought that prices would hold today in US cents per lb. 8 slcady

of course, and,

they follows: didn't. This week they won't Lead even hazard a

guess.;

Aug.

TP

BIG July

34097-14

United Press.

Sept

2413-34

NEW YORK, PUTURES

New York, May 20.

Soybeans, No. 2, yellow Spat Y May. (expired loday)

30844-3575%

July

Sept.

24744-236

MÁY

13.436

Nov.

Juno

1141

JRO.

Tariev

120-102

TE

May

Jund

New York, Nasty, 201

sack

Future closings were:

18.28b

RELEASED

Tokyo, May 20,

$14,300 htted. Prem.

Juno

Contract No. 4 (world)

July Delober December March

5427

July

XRY

Sept.

July

Det..

Delober

Jun.

Exchange

Mar.

May

July

··London May 20.

Bpotefcents per, ita, fob Cuun)

117/18

Open interest; -8.215 contraéfa,

-Contract - No. 0«

July

Sept.

Nov,

Маг

"Apat÷(cenia per

duty). Open

Interest:

WOR

Iract-Heuter,

June

There is this point to consider zna however: that

if the present weakness is nothing more than Couper May a corrective reaction,

share

-}B=BA_Lited Prost. In 1663, Henry VIII fóra- Twenty-azven Japanese fisher- prices have reached the stage, ni* shadowed government controla men who were relcaped by South now when yielda: must”- Du by imposing, pricó controls on Korean President Syngman offering a butchera- the maximum price Rhed's. special... amnesty today those who are willing to come

a

tempting balt to Exchange Rates

„Jhumkaseym : "win done, in the

of beef was fixed at a la'penny returned to Japan from Pusan Into, the market uguin.A BIDEO! a pout, while that for mutton abound the 673-ton · Korean was oneha'penny "and" oné Malf farthing a politid,

fralgicor, Won

Traders In London Velleve

Uulties that the reopening of a "free

siven lo seven, snoritet” will attract 'ihore South By the nineteenth century, - They were intrating in waters cent and even American beef to Britain.

there were

protest near the Red Line aree and cases when not public Recently, shipments

Korean do they were from against the slaughtering of cattle were.

(captured 2 by Argentina and Uruguay havel on the spot and as a result, în | authorities-China Mail Spoela, ove per cent.

ara nowuffeting How

and a half bergrodery (per140) zaurè in","datkih | steeling) mokes (per so many Weers Indonesian tuplali pre: 160)

Bum tionis (per ytelting about inabor ((Blenkte),

Indo-Chine, plastrow (per 100)

London Foreign

2438-39 34.53-39

54.47

154,072).- 24.0015. 134003330 -United Press

LIVERPOOL MARKET

Bin

Liverpool, May (20. Cotton futures, in pence per ib closed today"-as - follow

«Basa-11-American-middling colt [15/10, rich liniied) Press.