1954-06-03 — Page 9

Page

THE CHINA MAIL, THURSDAY, JUNE 3, 1954.

The scene around the trading ring when the Liverpool cotton futures market re-opened for business recently,—Express Photo,

Archaeologists Solve The Mystery Of The Headless Statues

Famagusta, June 2.

A systematic mutilation of pagan statues which were too heavy to move is believed to have been carried out by carly Cypriot Christians at the ancient town of Salamis, five miles north of Famagusta.

This is the explanation, given by archaeologists here, for the presence of a number of headless, and also some limeless statues found recently at a site which, though known to be pagan in origin, shows ample evidence of having been restored and used during Christian times. The current fins consist of a number of marble torsos attributed various Greek deities including Aesclepius (Medicine), Apollo and to Diana. In addition, several matching heads were also found, but some distance away from their complementary parts,

Uyprint archaeologists, Trently exenvations at Thut ople have abo revealed that the studying the finds, have come to the conclusion that bulking must have been dum- aged or destruyed several times if these statues were

diangɛ the 1,000 yours which purposely mutilated. prob. Jebreed from the time of ita ats fhual ably by the early Christians original creation untli

destruction following the Arab on the island who had

invasion of 838 A D

use for the clessical replicas. The talus and ...gment. [ statues were recover from the ste known as the Mueble Forum at Salmos, part of which ha recently bren iden Used loving originated in the fourth century BC. us a gymnasium.

W

i

For example, during the cur- reud exenvations, a water tank which is believed to have been pool of the the swimming

Was uncovered. 43 Munasium Pertalo biscriptions found over the pool, as well as the type of marble flooring round the tank, suggest that it was prob- The Jay restoration 14

bathing be ably used as a publie

the Christian Teved to have taken place In place after

whenstoration,

the sixth century A.D.,

the gymnasium was replaced by

a building of sine Chrisbauwhich must originally significance, although certam features of the pangues establish- ment were retained.

China Mail Book Review

Marriage Into

Endurance Test

Pamela Hansford Johnson has written a book about

IC-

The presence of pagan statuve have been grouped around it-found heaped in the pool at first pre- sented a problem to the

CX- ervaters. There seemed no good reason why these statues should have survived in an important building of the Christian city.

think

now

were

TRADE

and

Competition In US Auto Industry

Detroit's 'Big

Put The Squeeze

'Big Three'

On The 'Independents'

Detroit, June 2.

Competition has returned to Detroit and that means more trouble to the "Independent" pro- ducers who are struggling to keep up sales in face of the fierce, almost overwhelming_competition from "The Big Three" auto combines, General Motors and Chrysler.

Ford,

COMMERCE SECTION

Robert Young Wins Control, Of Railroad?

Naw York, Jane 2 Rabert B. Young, formar cowboy from Texas, ap- parently Woll control f the glant Nwww York Central Railroad' day- barring a last minulé legal roadblock,

This was the opinion in Wall Street following the announcement that election inspectors In Albany, had validated 800,000 disputed shares of stock voled for Me Young at last week's annual meeting. -- United Fress.

Even without the recession Detroit expected HONGKONG

trouble. Recession has siniply added its difficulties to the deeper causes of the industry's problems.

But first it must be realised that parts of the industry are still prosperous.

and

Ford achieved the highest | The key to the future will be quarterly profit of its the number of cars to be pro- history in the first three deed and sold this year

who will produce them. months of this year; and

Estimates of 1054 production although for the period have ranged anywhere from from January 1 to April 17 under 414m, to over 6m, cars 140,000 less cars were pro- probably

The nickst polistle guess is

50

IFL

the

region of will mean

still

this

year

ཅ།

in

duced than in the same

which 5. period in 1958, the output sind UIC rate of production of both Ford and General IT' Motors Was considerably comparatively high-that there higher than last year, and will be Ford at last achieved a 1946 ambition in beating Chevrolet for first place in production.

of controls The ending

and the continuation. of pent-up demand made 1953 the second 1st yetr In te industry's history with output

a substantial fall output and rise in unemploy- ment in the second half of the year.

STOCK EXCHANGE

International Tin Agreement Depends On France

London, June 2.

The French attitude to the International tin agreement may determine the fate of the agree- ment, according to tin industry circles in London. The agreement drawn up by representatives of all the main producer and consumer countries at Geneva last December, must be signed before the end of this month if it is to become effective.

All the producer countries except Indonesia and Thailand have either signed the agree meut already or indlented their intention of doing so.

Britain's signature the first to be placed on the document - technically covered Malaya and Nigeria as producers although

the

bo

MU

NEW YORK

STOCK

MARKET

New York, June 2,

A to reversal in a few lead- Ing issues sent prices down on the New York Stock Market fortuy.

countries will eventually required to add their own signatures.

Belgium signed on behalf of the Belgian Congo mad Ruondi- (From Our Correspondent) Urundi. Bolivia has

publicly declared her Intention of sign- Business on the Stock Exing and is expected change this morning mounted during the next week or two. to do' to $277,000.40, Noon quotations

Indonesia and Thailand have and the morning's dealings:--

fur given I offelal

i- SHARES BUYERS BELLEAH BALES

dication of their intentions but it is widely believed that Indo- BANKS

nesta is in favour of the agres HK Bank

ment and will sign before the INSURANCES

expiration of the time limit. Unipo Underwriters

Among the consumer coun- XD

tries, Britain, Belgium, India of the year. And the Netherlands have ready signed.

DOCKS, ETC K. Whart Dock Provident pre-

Wheelock

1033

1107 טו

830 640

.6 00

62 63,

1920 13.00

1000

1180

@ 1000

150

1000

0.83

part pro-

LAND, ETC. UK Hotel HX Land

O'

▾

30 36

304 on

200 8.35

means

that

can

10% 59%

rta

30

2283014

S'hat Land.. Realty

1.30

1.00

1000 103

2253

EV

+1-

by

Earlier Industrial shores interest in the aircraft group. were firm, and there was good

The reversal was touched off 14 points to 1801% following a Chrysler wbieli dropped report of lower production in May and the Arst live months

Bethlehem Steel also ensed, dropping 1 points to $08% and General Electric fell 114 to

the leading among

Increased

1,030,000

In-

CANADA TO SIGN Canuda has indicated she will $117 sign and though Australia bas dustrials been holding up her

Volume decision,

slightly, pending the result of last week's to

shures from election, it is believed she will 1,850,000

chares yesterday. also sign shortly.

Thero were 372 higher. 19 The Japanese Ministry of lower and 289 unchanged. Brade

today that Japan In view of the steady rise of would probably aizo. This many stocks recently and Star Ferry 23 30 25.60 1000 25.40 | leaves three important European the absence of any new develop-

France, Germany ments consumers

In this the industry sces 証

of re-establishment

the war seasonal pattern of pro- duetion when the major of the year's output was duced before June.

This of over

prospect while the motor industry net-and is acting now to some extent--as a sensitive gauge to

state the

of tha general UTILITIES economy, it will behave quite Independently

upturn of any of business in the latter part of the year.

A further fall would naturally depress cor sties still further, but a recovery is not expected to do much for the motor industry in its Im- mediate plight.

Bim. cars.

But by the autumn of last the writing on the wall year had appeared: demand was de- cling. defence orders coming 10 end, and the tightening.

economy

to

No en but the most opumis- the expected the 8m. figure b. mintained in 1954.

war

A more significant instication fr the future was the radio of own.crships to households: at The cri of the

thu number of cars per hundred hracheitis hurt sunk to belo the 1929 Jovel: by 1953 it had and elimbed to a new record

to Motieticians' curves pointed

in the rate of Ficwing

in business

suid

make up

in

to stimulate the market, their traders considered today's

Tram..

120 100 122 C. Light (0) 14.70 3000 14.70

Light (N) 11.40 11.20 2500 11.76 und Italy-to

1100 11.00 minds and

500 15.50

consumers. 28.20 20.00 266 28.00

400 20.70ment can come into force, at Bethehem lower. 600 at 23.00 least nine consuming countries, lost point,

holding together

Electric

'Telephone INDUSTRIALS

24.00 25.20 1000 20

Now

ALL CUTTING OUTPUT Although all companies

curtalling output in

less greater Or

tho degree in-industry's problem is still main-

ly a problem

the indepen- MISCELLANEOUS

Xangtane ... 8.00

Bumal

aro

Watson

1000 60

142

of

Car Ownership per 100 Households dents,

crease.

1029

1041

1010

1953

With

the

reedersfoo

сп

71.1

73

65.8

170.2

Impact of the ол increasingly

The Automotive News Almanac lists 1,689 names cur makes,

pus: and present, from Abbott to Zust only 19 survive today, and enly

of this group Are "inde pendents.

competitive market the advant-six

production in ages of volume

eulting costs rapidly

begun to

100

TC-

for

jell.

The $1,500m. that Ford had invested paid dividends: Ford joined G.M. as joint leader the industry, ond the Inde-

all specialist pendents -- like

In a falling market producers --began to lose sales.

Chryster sales at this time well in front of Ford last

year -foli

more inexplicably, the company's troubles Kenerally

to old- sttributed fashioned styling and to a need

and re-equipment agerial reorganisation,

of

but

the

Mon-

Archaeologists that the marble figures, being sn large and heavy, difficult for builders to remove. Indeed, so heavy

they were that they apparently

survived The earthquake which hit the In the 4th century A.D., town and possibly other disasters too,

The only alternative to

a marriage which was impossible long before the unhappying them was to deface the young couple ever reached the altar.

Appropriately it is colled "An | dominated her Impossible Marriage" (Mine-love-life

till then Millan Lindon). 1L IN never get "her Ned".

כון!

unsuccessful

would

even

more

bodles and SO obviate their significance.

These recent discoveries were made during the first of a series will of six excavations which take place twice a year from now until 1956. This work has been made possible by a grant of £1,500 * year for

three Fars, from the Colony's Divel- epinent budget.

simply-told yet typical story of can recommend this book to one of the thousands of those both men love affairs which never quite though 11

Inuke

and

would

women

seein

the grade, love

love affairs sulled to ing the idle hours which have been carried too of A housewife

between far and which degenerate into "elevenses" and timin.

the

Was

Miss Jchnson has injected into the parrulive a colourful array

remark

Interesting Facts

a rather cruel endurance test.

Christine was a "child" of 18. Net was her senior by 14 years of characters: Ned's sister, the

dog-loving and nover let her forget 1, but

forlorn widow Archaeological work at the even teasing could be carried Nelly; Christine's bowler-hatted site of the Marble Forum at

her bumptious first too far.

"beau", Leslie, Salamis was first carried out in Christine with her dear old Dicky who never gave 1800. The excavators, a British poetic, fanciful soul sought an Ideal love and in Ned she found Take Pinto", another

Ир using school-boy slang team, worked for only one sea-.

school- lusion of this love. Ned

son and did not return. days' boyfriend, so nicknamed moody, oddly

puritanical

For many years after that, it prefaced in his ways and with a distort-ecause he invariably

was hoped that a foreign mis- my

with ed sense of personal honesty.

those two

rlon would make words; pompeus, stuffy

Mr Survey

the site, of Baynard at the office where Possessive Lover

Christine worked,

her owing to lack of financial r And Ho wanted security in his cynical friend Carolino who sources, it became obvious that home and at his work but he couldn't live without love, who no such team could be expected,

Department was frustrated in his ambitions married "on the rebound" after the Cyprus

to Antiquities decided at last When his real-estate business Iris had stalen her true love.

clear the Bitc previously exposed

December 1953 Digging in Ned The story has a surpris revealed traces of an, unrecord-

rounds it od disaster and it becarne

Nor

failed he had to fall back on unsympathising parents.

was this all. For

WGA

friends.

Surprising Climax

to

und

thetr

funds

necessary

ayhe

of

zp-

P possessive lover unding climax which pettily jealous of his wife's off completely and explains why parent that further excavations innocuous young schoolday- Christine's strange husband at this site were likely to yield

finally decided

spcctacular results. Why when the Impossibility marriage.

But the Department's normal of the union simply shirlekod at But it a credit to the story

not provide the budget could Christino did she allow the to any that the climax seemed

to undertake continue to the stage of unnecessary. It stood on its own such work, although a grant of affair to marriago?

suficiently well. In fact it almost £4,500 from the land's Deva- Ironically it was her nighty seemed as if the author had

budget. solved the lopment show-girl friend Iris who met decided to tack on just a few

more chaptera to spin out the problem temporarily and on- Ned for the first time

abled a start to book to 343 pages, and in con-

be made. * before their wedding day when triving to do this had chanced

Tals year, Christine had already decided upon a perfect climax.

tho Сургия

Mines Corporation, would be no marriage.

Miss Johnson who was the an American owned enterprise This Bed Thy mining copper on the "laland,

there

This

a week

#

donation from

was Iris the notorioul, author with those fascinating the heartbreaker, the girl' the Centre" and "Catherine Carter enabled the first of the new who and the play, "Corinth House", series of six excavations to go could steal another girl's “beau” has an cosy flowing style, and in on- for two weeks longer than Just as oarily de abe could her reminiscences is not unlike would otherwise have been flicker her long templing eye- ir J. B. Pelealley, especially in possible.

her descriptions of her life-Dar Further work on Christine deforbined fore And

martiago WALTEN Xpected to begin in September, that this cranture who had PLINGE.

o number of smaller trend as normal.

Before the agree- Most Blęci shares followed US Steol

at least votes out of the 1,000 consumers allocated to sign.

333

voles

must

On the producers side, a

21.5

D

The NY Stock Exchange bond

volume was $3,080,000.

The American Stock Exchange volume was 000,000 shares.

Dow Jones closing averages

were:

rati 15 utilities

#Locks

20

370 DO

109.84

100.0

170.43

-United Press.

40 bonds Comm. future price index

Cemen!

.... 27.48

STORES, ETC.

Dairy

100 13.00 total of 900 voles must be ob- .....23.20 21

300 2310 tained. 200 € 22.40

Indonesia's signature, 10.00 17.40 100 17

controlling 500 16.70 producer

per 30 industrinja cent of the world production and 90 213 votes, is vital to the suctors of the scheme but her acceptance of the pact is not seriously in doubt.

arises on The problem

the

The United States, who decided not to sign the agreem ment but stated she would place no obstacles in the way of its effective operation, in the biggest world consumer and controlled u total of 400 voles,

of the New York Cotton side of the trement. New York Sugar

Market

633,400

Futures

Now York, June 2. World No 4 sugar futures closed today 1 point higher to 3 points lower with contracts.

sales of 269

that

Domestic No closed unchanged higher with sales

sugar futures

to 1

point of 723 cou¬

World futures

in

quiet

votes and gularly

341,700 price of tin which has been written into the agreement. They

0,500

241000

0500

101,400

4800

1,000

Future closings:

Contract No, 4 (world)

July

The mortality mate is perhaps

New York, June 2. exaggerated in that

Many

Cotton Tutures trading today names never passed the blue- print slago, but it is enough lo went through another qulet and show the Inte that the small inconclusive session. manufacturer has met.

At the close the list ruled up

FRENCH NOT HAPPY 4 The future

to off

Opening 3 points. Inde- for the

prices were

Her abstention means 7 points, up 3 to pendents probably lies in the

votes are left Now Orleans closed off 1 to 5 only $10

from direction of mergers--such 0.9) that

points.

which to obtain the neccesary recently concluded be- tween Nash and Hudson--or in

Trading volumes and open 333 to bring the agreement into tracts. Interests in the Exchange today force. catablishment

a single

moved irre- were:

France haw 55 body making Month component--or

Volunte

dealings. interest French consumers are not happy Domestic futures ruled steady agency for

group. the whole

July

27,000

232,000 about the £880 per ton ceiling with trade interests the leading At

10.000 present, however, the in- October

16,300 Deparber dependents

buyers. ore not yet in Marels tinancial difculties severe May enough to push them to a joint Getober

July PRODUCTION CUTS

the Increasing Tetai No sector of the Industry and against

Big Three. unaffected. competition of the today entirely

The Production bos in places been

complexity of the motor industry, even Ford has and Hudson found during their

moreover drastically cut;

(95) Nash now curtailed Its Saturday

negotiations for Nosh, Hudson, working, and

merger, Spat solution July Studebaker, Kaiser and Packcard makes a co-operative have for a long period worked for from easy. a short week

COMPETITIVE MARKET or even stopped production for a week or moru In a competitive market the on end.

answer lies in competing. The figures Big Three are now all under last year, as taking or continuing major re- the accompanying equipment programmes and the table, are the most telling guide independents are preparing for to the situation. In an industry the cold new world. where volume producion is the Before the war the automobile key to competitive success

its Hey

the industry was notorious for independents are week by week fluctuations; it is unlikely to re anding

more turn completely to this state, the situation alficult.

but the various phases through

Here the production compared shown

with

in

0

29,500 want this reduced to £800, 18,100 G8,900 1,055,000

(bales) -United Press.

NEW YORK PRICES

New York. June 2.

Closing Pricen

34250

October December Morch

May

Juty

October

34.35-30

34.19

3435

3420

33.381

are, In

There is similar hesitation by Germany and Italy is also not fully satisfied with the terms of the agreement. But Germany has stated she does not want to be the odd country out and will | probably sign if the majority do. Italy on the other hand is re- ported to be in favour of signing only it France and Germany do $0.

Trade sources in Italy believe the French and German Governments are being consulted so that the three countries can adopt a uniform polley,

Latest reports from Paris In- dicate, despite earlier misgivings, there is a good chance of France 43.70 nom. accepting the terms of the agree

-United Press, LIVERPOOL SPOT

Liverpool, June 2. Official prices for ips: colton, as announced today, pence per lb.: Egyptian Giza 30, good/fully/good Earelian Ashmouni,

good/fully/good

good/fully/good

Egyptian Karnak,

American mlading'

15/10 inch

Peruvian Tanguis, fully

42.40 nom.)

ment.

The other smaller consumers......

ASSGHAR

Open interest: 8,210 contracts.

Sept. Oct. Jan.

Mar

May

July

Spot-foents per ib. fob

Cuba)

Contract No. 6

July

Dept.

0.7ĺb

Nov.

5.7

Mar.

6.400

May

5.00

July

B.Bib

Sept.

0.00

Spot: (conta per lb cit NY

_ex-duty)

6.35

Open Interest: 0,15 contracts.

United Press.

49.10 nom. Brazil, Denmark, the Lebanon, London Rubber

In the first quarter of this which it has been act as a year the Nash-Kelvinator Cor- reminder once again, that thero LM Inch 30.20 poration, for example, had a is no "normal" In the American net loss of $750,000 compared economy and that the past. Is with a not profit of $0m.

for little help in this caso as a the same period a year ago.

guide to the future,

US PASSENGER CAR PRODUCTION

good, 1-3/10" inches ... 41.00 Indian and Pakistan saw-

Finned NT Bind choice 13.00 Indian and Pakistan AW-

ginned 4-7 Bing choice 23.59 nom.

Indian and Pakistan. rollers nom.

ginnad NT Bind......

Indian and Pakistan roller-

rinned - 31.05 nom.

United Prom. ·

LIVERPOOL FUTURE#

Switzerland, Spain and Turkey'

are believed to be watching and waiting for the bigger con- sumers to act-Router.

LONDON METAL

PRICES

London, June 7, The tin market was steady,

Liverpool, Juno 2. [load was quiet while zinc and Cotton futures, in pence per copper were stendy but quiet, 1b. and based on American Prices. In sterling per long, ton middling cotton, 16/16 inch, closed today as follows:

Market

London, June 2

rubbor

market WOR with No. 1 Ran Koot

at 10%

pence per lb.

The steady

quoted

Prices:

Jan, 1 Jan. 1°

to

to Apr. 17. Apr. 10,

1054

of

of total sales total sales first gir.

fret qtr.

Bestlement houm VeggieT July

No. 1 Has spot.. 1875-1816

1833-193%

AUZ.

1814-191

Bept.

19-191

3054

1983

Ost./Dec.

Chrysler

211.004 300-249

Jan./Mar.

1996-19

Chrysler Desoto Dodge Plymouth Ford

Ford

36,720

00,000

Apri/June

31,092

12.9

22.0

General market

08,290

108711

121471 S

closed as follows:-

Tinapot 22916 buyon 22015 setters

June

5-month-

alte

41

July

682,025

435,844

210

Deck Jan

31,40

Соррет арку 240 2-month

0403

Aug.

M

43715

Mar/Apr.

31.03

Lead Time

杯

Lincoln

15,070

May/June

"

10

D6%

Mercure

07.111

General Motors

203377

Market: The market tona qulot,-United Prder,

Buck

101,207

Cadillac

periolet

42/730 290,715

4:30,033

45,33

Undied Treas.

106,

Oldsmobile Portier

Kaber Motors

Packard

tudebaker

Total US. cutput

40,244

Sept. *** Zina · Jum: 01

Exchange Rates

NEW YORK FUTURES

Now York, Južno 2. Prices of metal futures closed today in US cents per lb. as follows. Dan done in the local and June

market this:

morning ́nt: the following rates?m

19-101

ports.

200/16-18 11/20

18

11/16-1876 Estats 'crepe, thin-2199-2132

-United "Prekt.

NEW YORK MARKET

New York, Junio 2 Rubber: futures closed today

10 do 18 points higher with sales of 39 contracts, t

Locally, apoi No.-1. Ras shoota were quoted 22% conte a pound. Future closingerp

03.196 (July,

Sept.

May

15, dellar Dor $3

Morling noćon (per 213.

Indonesien rupiah

Bhara, Honda (owe, 100),

·Singapore | Bigaštu)

Todo-China - padrós - (ber, 100)..

Tu

20:29 | Copper Jumpe

b-bla