Page
talkn
At the Treasury. in Lowlan, for tise Opening Meeting for Trade and Financial between The British and Argemine Governmeals are Me Reginald Maudline (Erchmate Secre tary to the Treasury); Mr R. A. Butler; Dr Jeronimo Remorine; Dr Alfredo Gontes Morajes: R. E. Senor Don Domingo A. Dekisi, the Argentine Ambassador to London; and Mr K. Unwin, Commercial Minister at the British. Embassy in Buenos Aires.-Express Photo,
THE CHINA MAIL, FRIDAY, MAY 28, 1954.
Russia Gets Tough
Again With Austria
Vienna. May 27.
Relations between the Austrians and the Soviet Occupa- have become tion forces, after a brief period of relaxation. more tense than ever since the Berlin Conference
When, last year, the Russians, as though by word of command, started to try creakily and with difficulty to unbend, observers here were surprised.
For until that time, the people of Vienna had been wondering whether the Russians were really human,
Could anyone who was human, they would ask, live in this easy- going city of Vienna, with its charming women, its gay men, its wine and music and dancing and remain so stiffly apart?
w-201
Dy
spente +
angry ↑ angloved "lion-haw!" but also Could anyone who was really down
the Austrian the Soviet deputy by the fact that human keep troups almost per- words
disappointed by entified to barracks Dgh Commissioner. General V. Government, manently
The failure of Berin, where they K+askevich, in the pleasant bospitable land M
last hast hoped at
tu get a Or reply with a constant "Net
also have
toughened Treaty. their attitude.
Even More Tense
1 French High Commit
Jean Payot, monte meres solidly, sometimes sker. M.
the Dugrily. the treated de-
opical to are unpassiones/ hearts of the Austrians for the home feelings of the Soviet favour of granting return of the just liberties and elment, th
Austratare
tre 120 thaxations after ame years
request
Thus,
abolished
the allowed at ht to have a few
they [ur
custom of bedagging for form.r Melvilion plines
cue work.
public buildings throughout the the rountry on the "Day of Libera-
of the harsh terms of the mupations"
Then the Russanus not
stopped saying "Nyer"
Allied
Council,
the British nod they.
bojan to move
the
oc
only
ntain recue
171 The
Fie state
terrible
JUDADDY
their
that ing
10
uvnlunche catastrophelor" eliming that last 20 lives of bien no liberation,
Sovereignty
there hac
Alructe they
worn anul children could have were still occupied und wittent been saved hud Austria had a few helicopters of her own for immediate use in spotting and going to the help of the buried pede.
In the poster war which began when the Soviet Union ordered which the removal of posters offended them-one for example blamed the Russains for the failure of the Berlin Conference the Austrian Government or dered the police not to obey this Russian order.
TRADE and
Ice House Street
Plunged Into
Gloom And Despair
By A Special Correspondent
Perhaps my broker friends are exceptionally gloomy. But yesterday they met me with long talking faces, shaking their heads sadly and nostalgically of happier days when Banks $1,700, Trams $29, China Lights $16.50, Electrics $31 and Telephones $29.
were
"That's when business was booming," said one. "Today there's just no money coming in.”
A slight exaggeration, I suspected but I was in- clined to believe them when they said after this week's niserable showing on Stock Exchange that there was not likely to be a revival of interest until the next interims were announced.
Visit Communist China?
to
COMMERCE SECTION
"Seamless"
DOLLARS FROM HAWICK
Clothes Next? Small Scottish Town's
Tokyo, Japanı, May 27,
An electrical company In Nagoya claims it haa
Invented machine that
has eliminated "swing" ayton.
IN
The company has applied to the Trade Ministry for 1,000,000 you (£1,000 sterling) subsidy for re- search on the new process,
#
The company kays that the new machine ran be used in making “seamless” clothing. — China MIL Sprelal.
NEW YORK
STOCK
MARKET
Big Contribution
To The Export Drive
London, May 27.
The little Scottish town of Hawick (popula tion 17,059) last year sent abroad products valued at £3,644,141-famous products these, for Hawick is the home of high quality cashmere and other knitwear garments.
A large percentage of the Hawick cashmerés went to the dollar market.
It was
in Hawick'a remarkable a new record post-war export performance, representing an increase of 17.3 per cent over the previous best year.
[11 This town there are 20 fitus engaged in the knitwear Their total output industry |1,45 excreder Bin.
wick
0 20 30
# you.
DINBURGH
Problas
HAWISH
Others are hoping, pray- Allee and Bevan are going
New York, May 27. ing that buyers will come
Profit-taking in indus- back into the mackr it] Benkers who hitive been ex-trials afler yesterday's over 56 per cent of #1 going there in some good news ammting the "disappearance" of sharp burst of activity abroad. from Indo-China or Geneva, Last week's pattern of wading
muest this werk with buyers] lding off and spectators selle
1.
Pesent bonna have now deserted
average
idle mines in the Colony have brought prfers down a few of this high level of exports,
10 1314
conclusion that cents on ge
in late the dollar markets Recount for there are a number of wealthy
over 60 per cent, and in the last ve years the members of the Chinese in Hongkong who are trading today.
About simistic
a successful Forly in Che servient prices Hawick Hustery Manufacturers' of the Geneva talks Continued to move up, with in-Association have carnett nearly
Dutcome
Hongkong
dievel
dustrials
£10m, in dollars,
gummed
พบ
"act Test (ideally pres plunged still lower.
reaching the highest Some utilities are still of their end who see a grave threat
In point since October 10, 1020. lowest revels for seven or eight the Colonya entrepot trade
EXPORT RECORD myths but Dairy Farms, desil China's move away from trade While rails were up fractionally. Volume Increased on the ups the fact that they touched $21.80) through
despite slackening The performance of Hawick on Wednesday haven't mattaged nation-to-pation harter trading, swing and,
later
Hules for The
been best day has for fall
inst lower TY
thun
Brokers believe that many c Lolalled 2.230,000 shares, 30,000 by Sir Norman Kipping. Direc- dy's "w mark.
these Chinese are now turning shares inoce July's
than yesterday's | ti» «ctureral of the Federation of Brokers belleve that mony in desperation to small manu-
turnover.
Brit.sh Industries, Gi follows: who made use of facturing rulators
Industries of their
Market commentators viewed "Haw.ck. In relation to Its size, the Stock Exchange during the own in the Colony and are the the action today as technical a
for the is responsible
greatest their vesting
muney
in pluct move to be expected in light of volume of exports of any town. far the Gold Exchange which and equipment which they hope the recent starp galtis and in
In the U. K CT,x! & a furry
this will how the more profit in the absence of fresh incentives
belind There are work as the gold pater touched the long run than
insipid an
Several individual Issues, liwick's post-war success. It $255 n the ous Monday on active chare marke, and the virtually especially in the oils, managed has been built up by hard work
is saki, was non-existent Trude with The trading. This, it
to hold good-sized gals. Steel prompted by Rome Kroundless mainland.
stocks continued to dominate by both management and labour, und it is baard Armly on high cumur that Ameslear
tending, with Jones & Laughin | 1414 and US Steel active lenders.
quality, an expert knowledge of were being made ready to inter-
foreign markets, and a vigorous vene in the Indo-China war,
Deep Rock continued to move
nuies
that involves technique
the executives Many of Hawick's industry in many thousands abroad.
ון
artivity
ERRATIC START
Actually, after an errotte start How one wonders, will they the share market gave an up-ahead in the oils, gaining 14 mars
react to the news that
Messrs
TODAY'S SHARE PRICES
But behind
no secrela
เ miles of travel
His
NEW
tlan across the Gobi Desert and Central China to Shanghai. In
the average yield of a year. enshmere per goat is 3 ounces, and the urice is £5
per one an pound weight.
เบ Aluempts breed cashmere goats elsewhere have so far yielded little suc-
cess.
One reason for the *x- ceptional Amerlean demand for enshmere products lies in the fact that American KATU- facturers are unable to buy Chinese cashmere owing to the
trude of present
restriction be tween those two countries. Tho vast bulk of all available cash- mere comes to England,
PROSPERITY MAINTAINING
But despite supply problems every effort is made at Hawick to keep production up to tho highest level.
In
Hawick bad times in the is experiencing period of unprecedented prof
at the points to $50. pearance of steadiness
Magna Capper was bright close of wading yesterday after-
feature in thes
metals section with although it impossible 11001
a point gain to $3934 us the G to say how long it will fast.
hes the Price opened On a better rnment plan to expand stuck- note, slipped during the morning of natale moved forward town's tradition, and that tradi-
doying
Losses of 1 points to $93 in is strong. the ing call but held
Hawick got its first knitting point to fairly Illinois Central and a afternoon. There was
$1234 in Southern Pacifle were machine in 1771, but before that heavy
business of Tulum,
FL narrow many generations of its people yesterday after the unexciting the widest moves in
had already won a reputation for
average tumovers
tower that
(From Our Correspondent)
Business On the Stock Ex- According to change this morning untinted is to $375,770.900. and the morning's dealinges:-- SHARES BUYERS SELLERS SALES
insuled hemelves PORCENSIOES 专柜 most positive attire
They nolished controls on the demarcation line. They allowed goods to move freely from their zome into other zones of Austria, They began to pay
own "Occupation costs" and wanted
Freuch
unit this followed sull tex).
about ΠΙΑΤΑ not only freely, not
among theer Allles but in Austrian circles,
Vienna, they began
he logical, Brih
cinema The
the Suvier Fruta should forbid railway sins, as the drivers could an easily drive
that
drivers army Tonks and places but not in all, even the full drive
allowed lorries, or even to have pedes-
That the Russians refused even concession, clulning tiny s that
BANKA helicopters even a few They would be used by the Austeluns to train pilots and parachutists for pulitary purposes.
ethicial sant As an Austrian
Even
to attend the
and their ofttress were
from time to time,
31t:་"
ren
In two's or un to have
12
certam
cabarots, brus and restaurants.
TH
In the country.
Russian privates were
armoured truins, rutefor-cafu, since
1
There have also been mover
by the Austrian Government to try to check the sale, in Western Austrin at least, of Soviet Im- ported goods which had paid n0 import duties, no turnover tax and no other Austrian customs, have duties or taxes, in unfair com- petition to goods which paid all these.
To in Austrian inns and to 1-fans, since walking is obvious-
Visit Austrian cinemus-instead ly
of being permanently.
Lo the
unly
preliminary training confined for military marching!”
their circle of
barracks and inesses,
Almost Popular!
own
Russian Threats
It appeared for a brief time isadon
ns though the
Husslans
human enough to want to
R HUK Erant Anti INSURANCES
Union XT) DOCKS, ENT Provident (10) Wheelick LAND, ETC
of half
carrier group.
people of Bawick
short, although
today
has known
劫 the
aro
Out of 1.205 issues traded, the quality of their handknitting.
sume 3,500 of Today. 515 were lower, 398 higher, 292
17,000 Aunchanged.
the hosiery The NY Stock Exchange bond <mployed in
and volume was $3,470,000.
kaitwear industry. Each worker The American Stock Ex accounts for production worth change volume
600.000 £1,400 annually, and earns the
equivalent of averages foreign currency.
million dollars during the week, and Wheelocks were active on a turnover at 11,500 shares closed! it 50% or ten centy the opening price. ing to my estimation this Wheelock' Lowest VAL
the shares were
end at the
Hirnuver Trams, on a than 8,000 shares lost only ten 20 1025
cluse cents on the day : $24.70
China Lights actually improved ten cents on the day
Non quotations) sied
1015 1830
174
$15
ו”
10
was
Dow Jones closing
shares.
af
1952. more
o a turnover of 8,000 add after
$13.00 And elorting
Dalry ni Farmis ended the day ten cents
17 50
070 GAL 1072 M
04 1.05 better
at $22.
53
2214
it 0193,000 w
rtu
TH
had
Realty UTILITIES
Train
1940 193
24 00
There was nisu a strong appeal to the Soviet Union to retur Austrian prisoners of war still The Soviet ki Soviet prisons refusal considerably Jowered Soviet prestige,
All these things have resulted In a situation even more tense than that which existed before Russions instituted their policy of trying to be human.---- China Mall Special,
A law passed by the AUR- trians, in accordance with per-
Granted them by the the
nil were Allied Courel to contral
the bo matters regarding
and exit of foreigners to their
entry
liked and befriended, instead of land, permitting the people of remaining sullen and aloof, hated eight countries, including West-
and feared,
There
was a short time, the end of a long series of con-
ern Germany, to enter Austrlo at without the formality of getting Austrian visas, was also turned down by the Russians.
They
cessions and favours, when the Russians beemine almost popular In Vienna.
At that time, Austrian hopes allow Generals like Kesselring
claimed that it would
without con- Despite to enter Austria
trol. disappointments, They went
They stated
that if the Aus
of
their
a Treaty scared.
many
even the Austrian leaders went
Less
Wool Likely
Year
This even further.
to the Berlin conference the trians took advantage of
mot
the
London, May 27,
Jar!
ایره الله
120 St Ferry
Light (0) 14.20 14.30 300 1 14.
1174 14.10 1000 14.28
No broker was willing to say after the close of business yes- this apparent terday how long
2500 11.20 Electric
200 in 23 ...27.00 Telephone. 24 30 24.00 900 24.30 300 2435 INDUSTRIALS
Cement STORES, ETC.
Dairy
no stimulus But there is
beyond share prices tetary cerisin mit.
#
were:
30 industrinin
20 rails
20
stucks
utilites
10 bondia
about
£070
In
serity, and
so far as it is in their
power to
do so, both management and labour in this town's small but highly efficient industry are determined that this shall be maintained.
The tradition in the town and New York Sugar
between relationship 320.37 the 199.47 management and workers are
57.02
labour disputes are 121. Such that texas virtually unknown, 1705 -Unted Pres
future price index
One
New York Cotton the firms in Hawick, and
Market
New York, May 27.
trading continued to affair for the third
the
one
KNITWEAR INDUSTRY
of the largest of
which has built itself a high re- putation abroad, especially the dollar markets, is Lyle, and Scott
Market
New York, May 27. World No. 4 sugar futures:
to 2 closed today unchanged points lower with sales of one contract.
Domestic No. 6 sugar futures points
in closed unchanged to 2
This company, which employs €50
lower with sales of 545 con- tracts,
Liquidation and hedge selling
world
of the total knitwear in- with the low raw basis account-
while the deliveries were featureless.
Future closings:
Contract No. 4 (world)
firmness was likely to last. As Cutton 1000 gr 24.50 | i 1200 34001 peinted out last week, share be slow
prices now are low enough and session in a row. attractive enough to bring In At. po line did the market dustry labour force in Hawicked for the ection in the domes- buyers for a number of utilities show definite trend.
Prices at an average wage of about 10 the contract, and
a week-was founded in 1874. Alled within il 2. Light (N) 1120 115 1500 or 11.10are offering yields of betweeen backed
Today, almost the entire aut- seven and seven and a half per narrow
responding to range cent.
small routine orders from trade put of Lyle and Scott's cash- to interests.
mere ladies twin-sets (sweaters July is exported, Sept. cardigans) At the close the list ruled un-and changed to off 5 points, The again mostly to the dollar arca, market opened unchanged to up although the company eclis twin- 3 points. New Orleans closed off sels and other cashmere products! July
in a total of 33 countries over | Spot-cents per ib. fob Cuba) 321 The impending long week-scas. end Memorial Day observance,
Although plus Geneva and Indo-China Hawick's uncertainties, and a lack of de especially
17 16.70 ....230023.10 1000 @ 22.00
Watson MISCELLANEOUS
Yangtze Yaumall
Again propose to set out a 15 10.70 0040 table to show how shares have
fared during the week.
London Foreign
Exchange
New York
Montreal Amsterdam Blocked Mark Hamburg
Paris
Zurich
to 7 points.
ពត
Och
Jan.
Bar May
the demand products
fox July abroad, Sept,
Nov.
America
and Mar.
May
ת!
cisive crop news, along with Canada, is alreday so heavy that extra-heavy loan redemptions, the manufacturers have difficulty all acted to keep the quietus on in meeting all the orders, Lyle trading.
6.00
150 0 5.00 139 142 100 340
Bunks
Uniune xd 10
May 20 ..1833
20 1028mm
27
1823
825b
830
Whoclocks 0.93
0.10
Ch Στον 11.50b
110b
HK Hotels
0.10
7.05
0,73
-11.80n
8.03
TIK Land
0415
14K
54
Trams
28,20
24.20
WETE: 24.70
Minnth
Ch Lights
July
23,000
850,300
Oct.
21,200
345.000
old
14,20
13.00
14
Doc.
10,600
341,000
March (1655) 3,000
271.400
now ....
Electrics
Tphones,
11
10.00
11
May
11,300
174,500
July
0,400
83,000
20.30
37.10
27.70
Oct.
303
17,300
23.40
2311
24
'Total
11.200
--United Press.
D Farme
2215
21.00 2216
London. May 27. 2.81 1:1/10-251
2.70 13/16-2.703 19.0814-20.0315 12-12 1/15
11.783-11.75% P35-005
12.234-12.23!' --United Prest. NEW YORK EXCHANGE
New York, May 27.
21.017
281 21/32 unonicial
2.75-2.70 90-day futures.. 2017
**United Press,
Canada
Arst at which they had
Control Agrec been clause in the allowed to be represented and ment which says that any bli
An economic report said to- to attend as equal negotiators unanimously rejected by
By day that world wool supplies instead of merc observers
all four
Allies in the Allied during 1954 are expected to be witnesses called to give evidence Council, comes Into force 31 about 2,750 million lbs or about England-official -with
been sub-50 million lbs less than a certain amount of hope days after it has in their hearts.
und
tried to allow year. Copien from these elght lands
The report, published by the without visa3, of Berlin to enter
they Commonwealth Economic Com steps to would take
prevent misteo, said the world con-
ibs-last year than in any other
Then, in February this year,
Basco came the
Despite the softening them from passing through the sumed more wook-2,600 million cess of concessions and favours, tho Austrians refused to sign Soviet zone.
represented - a
All
#pot 3-month
2-month Lond May Aug. Zinc
May AUE-
buyer, a-nominal, m-middle, Aciler.
PRICES LOWEN
Volume Open interest
development which
Trading volumes and open and Scott recently announced a
now Interests in the Exchange today koly to lift demand for cngh- mere garments to an even higher level, und materially Increase the company's dollar earnings FASHIONS BY DIOR
Spot
July
Dec.
Contract No. 0
Spot-fcentu per ib. cif NY
ex-duty)
0.24b
5.02
United Press.
Singapore Rubber Market
Singapore May 27.
The market stendled during the day on orders mainly from between
the continent with some sellers towards the close, Dior,
reserved fashion Futures pricek:**
gu. 1 rubber por. ib. Jure –– OBJ{
July Croate No. 1 rubber per lb. June
This is the link-up 1,655,400 bales the company and Christian
the world-famous designer,
NEW YORK PRICES.
New York, May 27.
Closing Prices
34.350
*
In future, Dior will exclusive designs in eastumere No. 3
No. for the. North American market.
Spot rubber unbailed. 34.16 This link-up
closely Wad
Hanket arepo 34.17
No. 1, pelaecepe ALLO 3431 guarded secret for weeks. 21.30 Now, sample cashmere gar
by the
made in Hawick company to Dior's designs are
24.241
23.02
- merits
United Press. LIVERPOOL MARKET.
Liverpool, May 27.
Uruited
CHICAGO GRAIN PRICES
Chiengo, May 21, "Chosing" price per bushel in panta:
Sept.
Dec.
March
LONDON METAL PRICES
The table speaks for itself. It purposely picked Wednesday's Mar. the Treaty which the Russians This threat was taken by an year recorded except 1050.
London, May 27. half-day prices for they repre- May July wanted. They said that there American spokesman to mean. Reviewing world consumption
were sented the week's rock-bottom oci. metal markets was no point in signing a treaty that they were even propared
between 1950 and 1003 of wool
Prices closed in levels. steady today.
already on their way to Now which
demanded enormous to restore controls at the de- the report disclosed that the sterling per long ton as fol- It is probably unnecessary to
Yirrk for showing to leading economic sacrifices and which marcation line, abolished in the Commonwealth's share of the
lown:-
odd that there is little satisfac did not even rid them, for the spate of concessions last year. world total of 1959 was about
buyers sollers Hon
tion to be drawn from the Cotton futures, in pence per buyers, and it is expected" that time being at least, of the in order to prevent this law 100 million iba or 33 per cent, Tin
7219 730 pattern of trading this week. 16. and based on American a complete range of the now Whell, No. 5, red Four-Power Occupation which from becoming valid.
which
"sub
241 241 It is merely a repetition of the middag cotton of 16/16 inch, models will be on sale through spot
out the Americh In the autumn, July 1941 they have grown to hate.
Russians Further, the
not stantial improvement" over 1952 Copper spot
277 22 provious week's trading but on closed today as follows
31.47-31.49 Faced with the almost over At the meeting of the Allied merely turned down a protest figures.
demand for Council on April 28, however, from the Austrian Government World consumptoin was at its
ག་,
con Corn, No. 8, yellow. the first important meeting about the filegal intervention of highest level during the first
ita döller, Spot after the Berlin conference, the their officials in Austrian affairs half of 1958 when the wool
--United Pro
In Ruslans showed that the velvet by ordering the Austrian polico texillo industry was recovering NEW YORK FUTURĖS K
New York, May 27, glove was outmoded in Austria, to remove posters which they from the previous year's reLCK-
your'a level. In fact, produce fon could be increased sul Prices of matăl fuiures closed: considered offensive, but they |alon, d Angry Words
"provocations of this nature" second half particularly in the follows: They reverted to their former they would take even stronger United States, when the level of Lead polley of cold, hard, iron-measures to prevent them etivity was the lowest fot handed rule.
Tension between the Aur years. contained our trian Government and the. So- The recovery, in consumption, The .szenda Important, though modest, ros vist element in Vienna, has been However, warrenected in the of wool quests from the Austrian Gov-increased not only by the returti, inditstry's producti armant. All four were turned at the Russians to the use of the me
whole. prices are Inclined Ost/Nov. Dec/Jan. to be lower than last week's, Mar/Apr.
SILD Banks, however are worth May/June watching for they climbed five Market: The market tone dent dollars, yosterday daishing the was very stendy-United Press earings day $1626 and if they climb
1s
products, aye Iust
wald that if there were further Consumption fell during the today in US cents per lb. as her he could well be an Exchange Rates Hantially. If only the supplie
June
zind
Copper
Right revival of intercat fil the investment Busine war code in the local of raw material word
Dimofficial @PRETENDU
With a decision China, pocted from Glenava in örtünkANDUN 100 nou)/future, the naxi ufus [26donesian Pugila Wooks" should be docisive-telem LCR
· Sharapore the stock market.
market
(0)
$Indo-China: pinotras). (per : £00)
on
Nav.
This Cashmere comes from mole
however, s supply which thrive best in the high re 'reaches of the Chinese". Himà='| Bar
layas, and it is brought to Eng land after Wooks bf transports-
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