1954-06-21 — Page 9

Page

Ingrid Bergman At Paris Fair

Ingrid Betgħlast, filni stur, pletured at the "Country Fair" held in the Tuilleries in Paris during last week-end. Muny stars of stage and screen altenfed.-Central press Plioja,

Tito's Press Bitterly Opposed To

Western 'Colonialism'

A

on

THE CHINA MAIL, MONDAY, JUNE 21, 1954.

Belgrade, June 20. Yugoslav ban two British documentary films dealing with Commonwealth affairs has spotlighted the distaste felt by Yugoslavia for the Western Powers' "colonial policies.

The Yugoslav Film Censorship Board rejected applications in May by the British Embassy to show to Yugoslav audiences the film "Burma Victory," about the liberation of Burma from the Japanese by British and Indian troops, and the film "Challenge in Nigeria" describing British attempts to develop Nigeria towards nationhood.

Although no official reasons were given for the ban, Yugoslav officials, however, let it be known that they were rejected because their pictures of the two colonies (Burma had nut, at the time of making the film, gained independence) differed from the official Yugoslav attitude.

The Yugoslav attitude is the United States for her policy based on the Marxist view in Puerto Rico.

that a colonial power kreps

giving orders to soldiers to fre

It Liny Africon and organising competitions

soldiers for killing?" under oppres.

its colonies sive, if not terrorist, sub- jugation und thwarts

“ነገ attempt at

progress

raising the standard living.

Or

पर्श

over

This does not prevent Yugo- sluvia from collaborating with the Western Powers European affairs or from giving a friendly welcome to visiting British delegations and parties, But it does result in Brillsh, French and

Americans being regarded with suspicion in all matters relating Asta or the Pacife,

k

in

The Anglican Bishop of Rangoon, Dr George West, visit. ed Yugoslavia unofficially May at the suggestion of U Nu, the Burmese Prime Minister, personal friend of his, who is

on President Tito. Several Yugoslavs, accustomed le regard British and Burmese as inveterate

after- enemies,

and called

when among

The Army weekly "Narodnu Armija' ("Peoples Army") said the British settlers, many of them mistocrats, had pusheri the Africans into small reserves,

Africans So that 1.000

were to live

forced

on

the same amount of land as was occupied wards privately voiced surprise that the Bishop was an English-yone European. The reserves did not afford Africans the "minimum fool standard," while those Africans

who worked in towns were paid starvation wage.

an and not » Burmese, The Yugoslav in ovincial press often attacks the Western Powers in terms stronger than those used by the main Belgrade daÜles and similar to die tone of Cominform countries" news- papers. Here is a

Cross-section comment.

organ of the Africa,

The Yugoslav press, which j all pre-Government, frequently publishes attacks on the Western

Powers over "colonialism.

During the last few months Britain has been untucked for

the

Mau

was

"Omladina" ("Youth"), the Yugoslav Youth Movement, In an article entitled "Shoot without hesitation" said of recent press console" that this unfer

The Novi Sad daily

tract- ("Diary") regarded

tional one in British

colonial Minu movement in Kenya as a policy.

The

then British

Frime national

Minister. iberation

Sir Arthur Balfour. movement with one him-"the ilberation gave it against the Irish many of Africans and the expulston years ago, Sir (then Met Win- ston Churchill gave it after the Inst

war against

gainst the Greek Re- sistance Movement, and it hid recently bren repeated in Kenya, Suez, Sudan and Malaya. The Belgrade evenlog news- рарет "Vecernje on United States voor

"Evening News"),

Puerto Rico, French Influence in Morocco,

her pulicy in Mulaya, Kenya, of the Europeans from Kenya,

British Guiana,

British Hon- The Mau Mou bad been duros,

Uganda

und Sudan; erilised for savagery, it said, France for her policy in Indo- but did

British the

officers China and North Africa; and "show any more humanity when

"Ring Road" Urged

For

London

London, June 20.

A suggestion that the Minister of Transport, Mr Lennox-Boyd, should set up a committee to re- consider the proposal for a road encircling Central London is made in the annual report of the London and Home Counties Traffic Advisory Committee, issued last week.

The

fluence in

ence

"Executioners"

TRADE summali

Just One

COMMERCE SECTION

Paris

One Nigger In Camels Startle The Woodpile Of Convertibility

From Our Own Correspondent

London, June 20.

Only one really serious problem remains to be solved before Britain and other major European countries declare their currencies convertible. That is how to prevent contraction of trade caused by "non-convertible" countries restricting their imports from “convertible” countries in order to

Parts, June 20. Sunday strollers, on the fashionable Champs Elyseo today were startled when Caravan or 40 Camels

A

appeared in a procession

out of a alde street to the

accompaniment of shrill

African musto.

Mounted by Turre (Sahara warriors) the camela proudly marched up to the Arc de Triomphe ald remained motioniers for a few moments around the tomb of the unknown Boldler-France-Presse.

RECOVERY ON LONDON

SHARE MARKET

From Our Own Correspondent

London, June 20. Cheerful conditions returned to the London Stock Exchange last week.

At first, prices continued their downward trend of the previous week due to nervousness about reports of an impending breakdown of the Geneva talks. Widespread losses were suffered

build up reserves of currencies that are exchange HONGKONG by industrial equities and a full of 1.9 un cue

able into dollars.

This problem was discussed in Paris last week by officials of the Organisation for European Economic Co-operation in preparation for the European Finance Ministers' conference on con- vertibility in London towards the end of next month. It was also stressed by the Chancellor of the Exchequer, Mr R. A. Butler, in a parliamentary reply.

of

A

STOCK EXCHANGE

(From Our Correspondent}

Financial Times index was the biggest for a long time.

Tuesday saw a

cessation

of small seiling, buyers re-

appeared and prices began NEW YORK

to recover.

But it was Wednesday before The markets really got into the

The strong recovery.

Prices of Utilities continuel stride.

in

STOCK

MARKET

New York, June 20. Heavy demand for rail shares on Tuesday hrought renewed interest in other

on funding operation all helped the market sentiment and evatributed

marked recovery of prices. On that day alone, the Financial Times index rose 1.8.

On Thursday, with Wall Street sections and there was forging ahead and the news from a revival of trading on the Cleneva taking ů brighter turn. New York Stock Exchange A 1030 equity prices

continued to ad inst werk.

HK Bank ... 1043 1835 10 1043

to rise un the Stock Exchange Wall Street, the news that Sar this morning under the impetus Winston Churchill and Mr Eden Mr Butler sald that conditions

of favourable news from Genevare to visit President Eisenhower their currently-earned pounds. and hopes of an eventual ease-in Washington and the excellent Im which the pound would be The extension of the transfer-fire In Indo-China. made convertible remained дл able account aven to practically

restilt of the Government's re stated

to $28.10 Trams rase by Commonwealth the whole The non-dollar turnover of 8,500 shares. Fume Ministers at their Lon- | world and the reopening

of Business amounted to $039,438. con conference in 1952. These free markets I Britaks for Noon quotations and the morn- were: the continuing success la many Internationally the internal policies of sterling commodities including some

traded ing's dealings:- prea countries; the prospect of that are essentially dollar com- anares BUYERS SELLERS SALES other trading countries adopting modities-has brought about BANKS poletes conditeive to an expan-ituation in which sterling is for sion of trade; and the provision many practical purposes already INSURANCES of adequate funds from the convertible. International Monetary Fund or otherwise

Progress has been most marked in the first of At the

end of 1032 when the Finance Ministers drew up their "plan" for sterling, the sterling area's gold and dollar reserves sexcel at $1,846 mullion. Hy end of last month they had

$1,139

creased by $2,985 million.

million

LOAN LIKELY

ANA NAV

K Whart Provident (0) Bhai Dock Wherlock

Linion

Underwriters 6.63 Lombard.. 31 SHIPPING

Waterbost

DOCKS, ETC.

10 10 0315

$3075 01

1,83

77.10 1000 14

2000

B.33 2,50 5072 k

90% 17.00 1.9714 3,03

7

7.00

8.45

300 07

20.10

HK Flotel..

ISK Land Humphreys Realty

Timin

vance ind number of good company statements added to the cheerful mood.

the

Hulls touched new highs for the year. Steels, motors, chemicals, aircrafts, some tex- tiles and olk, akng with specialties joined in the general advance.

SOTTIC

SLOWER RISE

By Thursday's close, Financial Times Index f in- dustrial ordinary shares, which hed sunk to 147.1 on Monday, was back to 150,0,

Prices continued their upward of a point to more than 2 points 1000 8.30 trend on Friday at a somewhat in leading Lasuca, erasing the

slower pace but there were many final traces

Progress towards fulfilment of the third condition named by these, Mr Butler has been only slightly

There less encouraging.

how Jittle doubt that some seems form of stand-by lown to buttress reserves when sterling is made convertible will be forthcoming LAND. ETC. from the International Monetary Fund. This matter will be fully ilscussed in Washington Inter This massive achievement

This year when The world's cltre only partly

to "special Finance Ministers meet for the ITIES factors". It la true the reserves

Fund's annual meeting. Ive recently be

benrited capr

But neither adequate reserves, mously by an influx of foreign

additional funds following the rumour that nor the promise of

from the to resources allowed

IMF. sterling would be

should sterling run Into tem- It's appreciate in value boyund

C. Light (N) 12.00 12,90 3000 9 12.02 82. Porary troubic in the early days 62.82. present upper limit of

1300 13.70 But this movement into sterling of convertibility, will suffice to

Electrie

29.00 30 1200 ir 29.07 1 than make the risks worthwhile anticipatory rather

tho socand <:lition zèmains

20 Telephone... sperulative and there has been

unfubbed.

INDUSTRIALS evidence since the rumour With the help of the I.M.F. STORES, ETC.

1600 officially

dented What

sterling could be made conver

241% 29.80, 500 or 24.40 foreigners are any less keen to hold sterling.

tible in sense that people outside

2100 4 24.70 the sterling area would free, to

.... 15.40 16.00 500 « 16.40 exchange their

(N) 13.20

06 13.00 pounds into currently-earned dollars. But unless there some AskAurances that countries COTTONS

was

no WIES

The rise of reserves has been chiefly due to the greater free- down that foreigners now enjoy in the uke to which they can put

•

Wheat Price Not Cut

By Government

Ottawa, June 20. The Trade Minister, Mr C. D. Howe, denied today that he or the Cabinet had

The

Govern-

de-

werd

Star Ferry

2500 or 28 2000 20.10

122

1900 14.00

financial

the

It was on Wednesday that the stocks continued to force ahead on good volume, with rails and industrial shares recording gains

of the previous good features, especially among week's break and the composite those shares which have been the market average touched Itz 1000 27.04 subject of company statements. highest level since compilation

One reason for this sharp turn- began in November, 1933. round of prices has been

Rails were the best performers G. Lighs 101 36¶1⁄2 16.00-8600-m-18.4 fruccess-of the week's-twe major--with-gains ranging to more than operations. The Are 8 points Union Pacific, and was the Government's offer to 2 to 3 points in Atlantic Coast holders of 3 per cent National De-Line, Santa Fe and Texas Pacific. 2300 @ 20.95 fence_Loạn, 1954–56 to switch into The strength in Union Pucuk, is ¡how 2 per cent conversion stock, linked with the company's ell

1958-59. The result

rather surprised and titanium holdings the market for no less than £282 than its rall operations.

Steel shares strengthened as million of old stock was converted,

Cement

2018

18's

2000 24.50 ME only £29 million to be trade reports indicated a five-

in cash.

to-eight-cent an hour wage in- The second encouraging sign crease for steel workers, to be higher that Cunds are avañable for in- followed by probably

prices, Bethlehem Steel and US vestment

in suitable stocks was| 20 the outstanding success of the Steel were the best gainors of Rolls Royce issue of £4 million the section.

Metal shinres were strong as of 4 per cent debentures at a the Government announced It

Dairy

Water

Kwour Bang

Kana......

200

138

Textiles

use

Yangtze Youmeil

...... 6.03 GA

6,15

140 148 200 m 144

300 143

200 144

400 * 143 100 147

Ailled ..... 17827751⁄2 1000 on 33

to

whore currencies remained in- verilble would not restrict their MISCELLANEOUS imports from Britala and sterling thus saved to make purchases from the dollar area,

could freedom

be currency maintained only at a cost of severe contmetion of trade.

Fortunately it 19 in

overy country's interest to co-operate Ju proventing this. For restric- lons against convertible coun- tries would almost certainly be followed by counter-restrictions and in the end all the benefits

New York, June 20. of the European trade liberalis-

Cotton futures would be lost.

trading went ation programme

and In- through another slow NOT AN END

the

of freer trade

further

has

and

repeatedly

=striction

programme.

of

prico of £09.

totalled more tha

App would

£24

make stockpilinit pur

chates at

the ruling market instead of setting

which means the issue was more than six times oversubscribed. peleo New

stock is

therefore expected minimum prices.

There were also sharp gains at сост

ណ appreciable premium on issue price when made by some chemical issues,

Total sales

for the week commence this week. amounted to 231,000,000 shares, dealings New York Cotton Rolls Royce chores have mined

u dally average of 170,200,- 0/4% to 94/4%.

000, against 0,040,265 and 1- The equity market has also 020 853 the previous week. Tho been encouraged by a number full week's volume was the of good company results.

smallest one sinco April 10. - United Press.

Market

over

ol

TEXTILES BOUGHT

Or

Shares in Fisons, the fertills Singapore Rubber

steady

Q

•

Market

Singapore, June 20.

"dictated" the decision to Nor must the aim be simply conclusive week-the 8fth in

fem, jumped 6/10% to 53/3 on the Canadian Wheat Board to preserve the status quo. As row,

Mr Butler

After fuctuating

aa surprise Interim dividend. to cut prices 10% cents a stressed, convertibility is not on

range of 31 cents a bale, the And British Electrical Traction bushel last week.

end in itself but the means to market closed up 2 to off 20 gained 5/9 to 62/6 on the an in

nouncement ci

dividend # The decision, he said, WAS establishment of a system points. The point changes were

incrcase and

200 per cent

The Singapore rubber market made by in- and British

the Wheat Board as

payments, equivalent to a rise of 10 cents

scrip kaue.

was fairly active last week but representatives the Sudion, wrote:

pr the grain It follows from this that Euro- to a decline of $1.45 a bale,

levals, traders Factors restraining new buy-

Textile shares have been in at the higher. "During the

few decades past

growers of the western

countries must not be pro- pean

Lancashire Cotton were becoming very cautious, satighed with a formula to pre-ing interest included the almost no fettle. vinces. inany things have changed, but

tone uniformly favourable

Corporation

held their interim says the weekly report of Holi- Trade Minister denied vent the past and present rulers or

day, Cutler, Bath and Com- trade.

They must also work crop nows, which indicate that dividend at 10 per cent although occupiers have not yet

charges that Wheat Board policy out a policy for freeing trade despite acreage reductions im-last year's pay-out included a pany Limited, was dictated nounced their desire and inten-

by the

The rubber broking firm ob- 5 per cent from its remaining restrictions. posed this year, there is still a

coronation bonus. ment. tion to remain munters in these

sirves there have been inquiries Shares gained 4/3 to 00/- on from all parts of the world on With the advent of convere chance for another big crop. territories.

The world price to be paid

The Government weekly sum this new and other lending for 1954 wheat would not be tibility, the European Payments

most grades and particularly onnounced und this

Autumn Union, which has been the chief mary sad the crop showed.im textile equities also went higher. rernille have been in good · dow and it would be set as high aberalisation

Instrument in the O.EE.C. trade provement generally.

Gilt-edged stocks have re- will we think can reasonably

Prospects for form legislation maimed quietly firm. The feature mand. In spite of fluctuations, *****st aðdr, the undertone has at "Tuck power is still stuff.

be cense to exist. And this raises remained blurred. But BOING dong," he rald.

problems. The first quarters Bupposed a favourable the on market has been tho all times been good. two major ciently great to enable them to

"of Angio- advance Wheat Tie

The report sy the price Board delay temporarily the natural

wanted is how to provide credit facit compromise may yet be worked Iranian shares which are now loval is becoming attractive to historical process of the libera

meve experience with current wheat marketings before illes now automatically ovaliable out to circumvent the division at a now peak of £12-17-0 after

have forward estates which Hon of peoplos, to postpone it

between the

Ad starting the week at £11-10-9. sales in view, and some trade

on Other oil, shares finished higher interest is for a certain time and thus

elding what the initial payment from the Union. The second is of opinion should be. The

In current initial how to prevent a breakdown of ministration and Congress

boing shown tho trado

flexible v. rigid supports liberalisation pro prolong their rule"

for after a slow start. The project, known as render unnecessary many

price of $1.46 for 1953 wheat

distonnt forwards and fair trad- Lotta" "A" Ring Road, was aban- the road improvements in that

next year.--United Press. ("Our

Copper sbares are back in the Ing in these seems probable in would be paid until midnight, gromme in the July 31.

reports According to

from doned in 1950. The road area which the London County Struggle"), published

news and prices have gone ahead the near future. RAW COTTON {EXPORTS Yugoslav Zone of the Trieste

oficials Paris, O.E.E.C.

have

strongly Council now consider necessary.

under tho lead of Now York, June 20.

Stocks In the United Kingdom would come from the est

EXPORT WHEAT Territory for the Italian popula-

Nehanga Consolidated, which at the end of last week ware Canada had across Baker Street, swing long term be cheaper than the authorities

340,580,000 explored a number of possible

Raw cotton exports by de "It would probably in the tion, sald: "The English bushels of wheat on hand for solutions and then will receive stination as reported in bales by spurted 18/9 to 20 on an unex- 4,000 tons lower, and those. In

in. Malaya

pectedly south-west,

sharp increase in the Singapore at the speak tunnel

end of May under piecemeal Improvements other about banditism in the jungle,

export on June 4, some 34 per a detailed examination by

the New York Cotton Exchange, Finance European

Ministers for

to 100 per cent were about 7,000 tons down. Hyde Park and cross the wise necessary, and it represents but it is really a movement of

more than at the same time

when

the season of 1953-54 10 total dividend they meet in London

after last year's 75 per cent. Thames either by tunnel or a much more posluve approach liberation.

Last year, the Bureau of Statis under the chairmanship of Mr Juno 15 were as follows: ties reported today.

Britain

368,015 bridge.

to the problem, and one much

con-Continent Butler to discuss their more likely to produce a real India after the

... 1,847,039 The report on visible grain vertibility plans. Britain had had to give up

Ortant

1,200,0 second world supplies In North America eni

Canada

234,900 In most parts it would be a improvement in traffic condi- war, but had hung on to Malaya deliveries by farmers during the

It has been suggested that Total for

3,404,700 sunken road. Slip roads would tions in London."

the same period·lant- yanı” 2018,317 to try to preserve the monopoly week fell to 0,001,000 bushels some of the functions of come into the sides and bridges

"excluding Jinters-United Prem, from 7,018,000 bushels in the car. E.P.U.. might be taken over by Only road improvements of of big British rubber truste, it would carry other ronds across minor importance had been put said.

responding period a year ago. wider. international organisations, in hand this year. "No rent im-

Export clearances during the thus enabling more countries to "But in Malaya, also, armed provement of London

week amounted to 3,714,000 beneft by them. For example, traffic oppression and barbarous TC-

buabels, compared with 0,614,000 the International conditions can be expocled unill prints are shown to be in- our major recommendations for effective."

In the same week last year Fund might be n zultable body United Pics.

tophavido érogit facilities Lo accepted and implemented." rood improvements have Been The newspaper said that the

debtor countries, while the of the British, forces « In

responsibility for preserving the Malaya, were so horrible that, -- Expressing

trado liberalisation

'•could | 24.

ft.

Bold Idea

concer

of

at the

deoda

Whon

Nostra

cent

Britains goldiers returned Exchange Rates

The committee's report states: "In our view this is one of the fow bold and imaginative ideas which have been proposed to growing seriousness of traffic from Malaya they deal with traffic congestion in congestion in the London are jokingly

the report siatos: "Nothing, hoa. Happened since our last report

London.

Hey were

The

were

e holding

"We do not underestimate the which has enticed us to change difficulties or the expense, but one, mind about the fravity of about 50,000 Chinese * this road would mabatantially, the rituation or about the nature | simüler number or Ind reduce the tramo in the Inner of the steps which must be taken concentrations campain. ares of London, and wouldʻtiras lab, deal with st.”:

it Kilegett

Monetary Bank Of England

Statement

Action Against Wool Tops Dumping Urged

The

Indications were, that all

the rubber at prosent being produced was finding

HIT a ready market, the report: added,

It says that factories which for como time past had been buying on a hand-to-mouth basla were probably, endeavour.. ing to build up 26 vertoiri amount

of stock since pro- Brussels, June 20. duction and consumption werd The President of the inter- now go nearly balanced, --- national Wool Federation, M. United Press, BALE André Foltzer, called for govern

BINGAPORE PRICES:

| mental), notices wgainst Urusnanyan dage Singaporo, June 20 Sher? London.“ June 20. dumping of wool tops in world The undertone of the fubber, ase to the Central Aromethene work ended Jane sard conference last weekbeutera closingar

Bank of England tstata» | markets. at the Federation's market on Saturday, waafrood. hile the

Callow NERVA KM). Polizer- urged delegatda, to No. 1 rubber, per lb.

actioni on

='rubber "par";10;2

would

include countri

after which he said

should