1954-07-09 — Page 9

STARS AT FILM FESTIVAL

THE CHINA MAIL, FRIDAY, JULY 9, 1954,

Famous screen stars Richard Widmark and Mal Zetterling attend the West German Flim Festival in Berlin. Richard taken the leading role in a new American m

in being shown in Our many for the firel Ame--Express Photo.

which

While Umberto Waits In Exile-

ITALIAN MONARCHISTS

ARE FIGHTING

BETWEEN THEMSELVES

Rome, July 8.

Italy's Monarchists, theoretically fighting for the return to his Roman throne of ex-King Umberto of Savoy have tem- porarily shelved their main mission in order to fight each other. From his exile at Cascais, near Lisbon in Portugal, the former King of Italy has striven in vain to concentrate the efforts of his supporters on reversing the narrow margin of votes which deprived him of his throne in 1946.

The Monarchist Party, which a symbol of all they stood for. Grst enrged us a national force But they gave no hint of practi-

cal plans for his return.

olections be-

In Italian politics In a series Jeseni ant general tween 1961

Int. tw

Its colourful

1953. hus split

figurehend and

The party thus took its place

Italy in republican

as repre- sentative of the great CURSCTVO- tive intorET(G

of souther!:

and

central Italy, cautiously oppos

gain on-the-spot

the source of s sunpriately in land reform and boldly pleniecus funds. Achille Laur, selling out

anillionaire Neapolitan ship-cotirol c1 the £000,000,000.

owner. has broken off to form a

E.W party.

He har taken his money with him, together with a great part of the voters of the mounechlat stronghold of Naples.

th

* has

He has named his new party Popular Monarchist

chosen y Eyribal two very rampant lions dereading a crown.

party.

Original Party

ten-year programme for capital development

the south.

لانه

initiated shortly before by the

Christian Democrats.

The election results gave the Monarchisto slightly Brenter numbers in Parilument than the Social Democrats, Liberals and Republicans together.

165 These three small partie, hød, in the previous five years, com- bined with the big Christian Democrat party to rule Italy.

The original party, known as the Notional Monarchist party, with a crown and the Savoy

Alternative Ally

day

were

Was His decision

obviously taken suddenly: for next two of his closest aides ACC1 ot the Naples library book! of thumbing through heraldry in search of a proper pair of lions to guard the crown

on the new party's sign.

In Vivid Terms

summoned

TRADE azell

Steady Prices On Hongkong Stock Exchange

By A Special Correspondent

A very slight setback in prices last Monday and a gradual recovery to last Friday's levels has been the only movement to disturb the steadiness of the Hongkong Stock Exchange this week.

In fact the "setback" and the recovery took place on the one day-last Monday. Brokers believe the decline was a reaction to the French withdrawal and "regroupment" in the Red River delta area.

However, encouraging news in the afternoon press of the progress being made both at Geneva and at the cease-fire talks in Indo-China restored confidence in the market.

Trading fell away towards the end of this week but despite the deteriorating situation in the Red River (delta, there was no inclination to sell.

Brokers believe that the Japan

of resumption

talks nt Geneva next week between

the Big Five Foreign Minia.

ters overshadows the mili- tury position in Indo- China.

a

COMMERCE

SECTION

Dutch Petroleum New Discovery May

Listed By N.Y. Exchange

New York, July 8. Governors of the New York Stock Exchange to- day approved for listing 24.327.321 common shakea of the slant Royal Dutch Petroleum Corporation. This will the company's first formal listing on an American board.

The shares will be ad- in- mitted

dratings mediately after the shares have been registered with the Securities and Ex- shange Committon which normally take about 10 days.---United Press.

NEW YORK

STOCK

MARKET

Revolutionise Meat

Export Industry

Wellington, New Zealand, July 8.

A simple and economic process by which meat can be drastically reduced in weight and volume and yet reconstituted into a palatable and nourishing dish, has been discovered by New Zealand scientists.

The discovery is the result of four years of research and is hailed as a great advance on war- time meat dehydration.

During the war, it was only, chilled meat or 12 with frozen-.- possible to dehydrate mincedit is believed that there are pos- tneat which, though nourishing siblities for New

Zealand when apaked in water and dehydrated meat on the British cooked, was far from appetising. peace-time market. Mesars Law

Experiments leading 10 the

and Vere-Jones think it has a discovery of the new method futuro in Britain 43 a menu- were carried out al the facturing meat -for pics or Dominion Laboratory, Grace

sausages. field, Wellington, by Mr N, H. Law, meut research chemist, and Mr N. W. Vare-Jones,

New York, July 8. Stocks went through a chemical engineer. second session of undecided

The Arst large scale tests of

Dehydrated meat is likely to be cheaper than either frozen or chilled meat, but only a pilot plant has been erected and there are no accurate costing figures............

exporting

10 yarn Hongkong, the Colony has been oble to ship substantia) quantity to South Korea and at trading today, with prices uned dehydrated Gracefield China Mail Special. present there is no overstocking alternately advancing and ment

were made by members of supplies in the Colony.

1953 New Zealand and It is dimeult

with of the say when the backing down

Himalayan expedition. Sup- position is likely to

Improve, final changes only frac-plied with enough meal for ong but if Indonesia begins Iropor- tional in most instances. hundred days, members of the expedition expressed their ap- Bcom- proval, although the meat was tinued strong undertone, but not soaked before being cooked, traders were hesitant in the face | Better

arc reports of warnings from nome of the en

from the presont Himalayan experts that a period of con- sclidation is in the picture.

og again undoubtedly it will relleve the strain on the market.

local

Here is how Hongkong share prices fared over the week:--

For a successful outcome { Geneva will mean not only cease-fire in Indo-China and a lessening of tension in the Farj East-both devoutly to be wished after so many years of fighting. It will also mean that the most important reason for the United Nations embargo on exports of strategic goods to China will Wheelucks. have been removed and tha! the: embargo

be modified Ch Proy may shortly afterwards,

HK Jiuleis Brokers therefore believe that | K Land until the results of the Geneva

Trans talks are known, share prices are likely to remain ut their Ch Ligplat present levels.

Prices closex steady yesterday with Banks, Unions and Utilities Arm. This week Banks have held between $1890-1895 and

Ba Unions at between $862 3⁄41⁄2-805. Utilities, particularly Yaumatis, Elecirles and China Lights have 40 been sought and Trams rose cents on the week. Yesterday they were quoted ex-baus sue

for the Brst

$18.50 buyer.

time

Cements have risen this week on encouraging company news. 1 bear their earnings to date are very satisfactory. Dairy Farms put en 50 ecats on the week's truding.

The Commandanı

to reporters

hts newspaper

great office in a

palace with "The Lauro Fleet" inscribed in

RUBBERS ACTIVE portals, and marble over the

Amalgamated Rubbers enjoyed fold them in vivid terms what

Loa some activity this week, he thought of Professor Covelli.

Friday they were quoted at 80- "He thought that he could

87 rents and they rose to 994 run the party as he liked and

the middle cents in send ine

of this the bills,'

the Com-

week. and added

But interest waned yes- mondant declared,

terday and prices slackened. that he paid 90 per cent of the party's expenses, A busy alde

Hongkong Hotels have DEEN near him; whispered to those

maintained

rales - at high largely as a result of persistent rumours that the company may sell land to a Chinese syndicate

but according to my infornu lon, there is no truth In these reports at all.

"The elections alone cost him 1.500 million lire (about £900,-

and the election campaign

The Monarchists now emerged

an alternative ally for the Neapolitans were showered Christian Democrats. But owing with packets of free spaghett Alfredo to a big loss in Christian Demo-bearing the Monarchist symbol). erat numbera in Parlament, ye* The Commandant went on to

the assemblem, is now in the undisputed control of 40- year-old Professor

Covell, who has devoted him- self to monarchist politics ever another ally was needed to c soy that on his first visit, two

since the war.

after the

years ago, to the

sure an unassailable majorlly.

Monarchist This was one of the first causes headquarters in Rome "I arrived When,

split. general of the Monarchist

to And the

boya messenger

sell- clections in June last year, the

Commandant

Lauro (he keepsing the furniture to recoup their Monarchists appeared on the his naval tle) regarded the unpold wages. It cost me 3,- national scene as a great party, Neo-Foscists a possible allies. 600,000 lire (£2,000) before ! both Laurs and Covelli let it be Professor Covelli regarded them could sit on one of the head- understood that they wished 19 as enemies of the Monarchy and quarters' chairs." play a constructive part in their therefore as untrustworthy Professor Covelli was not country's political life, without political friends,

slow to react. He sent Instruc- raising for the moment the But while he was willing to

tions to those Monarchists question et the restoration of consort with the Neo-Fasciste, in Naples, whom he could count the Commandant was also ready upon, to occupy Immediately the offices. They to co-operate,

party's various apparently on

succeeded in getting into five, with the almost any terms, Christian Democrats, at least hall and squatted there.

the monarchy.

In party proclamations and electoral speeches, they

stantly invoked the Monarch as of whom are anti-Fascist.

CANADIAN

IMPORTS

"The mission of any well- meaning Italian is to gather all

the healthy forces of the nation

Mass Rally

But the rent of the officers had into a solid front against Com-always been paid by the Com- munism, "the Commandant mandant and he promptly put decinred.

The Yangtsze

dividend

nouncement was welcome. The 30-centa pay-out is unchanged but it gives the shares 'a yield of about 10% per cent. I understand the dividend is to be pald shortly.

B

July 2

Banka

| GEN)

005

1690

7.20

12,30

7 30m

#6252

7.30

12.700

6.90 a.pa

ડે

27.00

30

12:30

B3 DG

501 mm

27 70

10 sob

New

12.30

12 40

12.50:

Old

18.30

Electricn

$0.10

Tphones

20.50 20,80

D. Farroa

24.70 24,70

-buyer, m-middle.

15.40

1042

31

20,00

25

TODAY'S SHARE PRICES

(From Our Correspondent)

showed The market

for

Profit-taking accounted most of the selling. There was no pressure on the list and the major groups held around their quarter-century highs.

Out of 1,104 issues traded, 455 were lower, 427 higher, 302 unchanged. There were 04 new highs, seven new lows.

Volume dipped on the down- tum, totalling 2,080,000 shares, compared with 2,380,000 yester- day.

Steel shares dipped at the close,

Bethlehem with

од and US Steel down point. Olls had Motors also cased, SOME sharp Josses--20 in Monterey, 11⁄2 in Amerada.

party

Hillary.

expected

l by Sir Edmund

Apart from

the tremendous

advantage of dehydration In ship carrying wartime une dehydrated and compressed meat

tu is is equivalent

ships of

World Cotton

In

Markets

New York, July 8.

bole

U.S. Steel Will

Cost $225m.

to

Per Year

boost

the

New York, July 8. Higher steel prices are going ster! bill of America's manufacturers by more than $225,000,000 a year, Iron Age predicted today.

The new industry-union con- tract means in effect that stoel consumers will pay an average of around $3.25 a ton more for their steel, the National metal- working weekly said.

Increase is on "The price selective basis, because of vary-

Q

Colton tradors today favoured, ing aniounts of labour required theto produce different products," It the buying

side when estimate govenument

proved added.

Iron Age

118 forecasts that malier than expected.

lst comporile base price for finished a gradual rise, the

to secured gains

around steel will rise $3.24 to a cost of up $1.50

before the ascent $85.02 per ton.

the levelled off under realising end Meanwhile,

publication for hedging.

saw better business ahead Local

professional buyin" the ateci Industry. American Stock

and a covering Ex-plus short

The market is expected

to volume Was 620,000 routine trade demand was sup-show improvement in August," United Press.

piled through scale-up hedging Iron Age said, "By the autumn, and realising.

ja fairly strong upturn is likely. "However, strike hedge buying was not widespread and there

cancellations." are few order United Press.

The Now York Stock change bond volume was $3,- 000,000.

Ex-

The

change

shores.

DOW JONES AVERAGES

New York, July 8. Dew-Jones closing overages

Ꭸ . Wall Street were follows:

Business clone on

171

the Hong- Stock kong

Exchange morning amounted to $100,290. Nocn quotations

the and morning's dealings:- BULARES BUYERS BELLERS SALES

BANKS

Dank

1600 1694 East Aala INSURANCER

Union Loinbard

this

20 rathe

30 Industrials

19 titles

63 stocks

4D

banda

52 100 BL

DOCKS, ETC. K. Whutt Dack

A ......10.2017.10

110.40 (21 14

Provident

IK Land ..301 60 S'haf Land Humphreys

Comm. future price Index

Comm. spot price index

Moody's Index

29

The Crop Reporting Board! pincod th3 July 1 areï in cul- iivation ut 10,901,000 LATER? This was about 200,000 to 300,

Icss than GOD acres

experie and was 21 per cent less

339.01

the

1141

50.00

aeroage reported at same me last year.

The

120.43

180.33 be

than the

Best Government

100.60 catinate on production will not published until August, but statisticians variously estimated pre- the production, based on

between

183.45 431.0 -United Press.

Singapore Rubber

Market

Singapore, July 8,

sent

ot 13,000,000 bales

indications, 11,800,000 to

compared with lost your's un.

000 bales.

production of 10,443 -

and Trading volumes interesis in the Exheango

clay were:

Month

July

Ocl.

New York Sugar Market

New York, July 8. World No 4 sugar futures to- day

closed unchanged to 3 points lower with sales of 224 contrrels.

Domestic No 0 sagne futures point close changed to 1 lower with males of 7 contracts. World futures essed under the liquidation prompted by Volume

lower raw market. Domesilo

atures were dull in ling wila. the domestic raw market.

Dealers reported

103 300

(OM)

013-

Wheelock

090 @ 1215 2000

open to-

LAND. ETC.

III Hate!.. 11,00

D 200

109 B

Open interest

1.45

7.100

23.100

18.10 Really 2.001; 2.40 UTILITIES

Tram XD., 18.00 18.50 2300 @

Furry 127

10.6

C. Light (0) 151 15.60 1000

mat Ferry 140 147 300 @

140

Light (N) 123 12.00 100 Fectrid

101

13%

250 29 12

The market opened easier on lower London and New York advices but steadied during the day on reserved sellers and good interest dor lower grades. Prices No. 1 rubber per ib. July 714-719% Aug. 711-711 Sept 11-7411⁄2 No. 2 rubber per t. July 11-21% No, 3 No. 4

1,500

Zia 200

Dec.

11.500

Mar.

5.400

$30,000

May

It.300

230,000

July

120,000

Oct.

4.200

37,000

Dec. Total

400

14,000

45.700

1,573.500 balen

-United Press.

í

B00

103

06-701% eu-0011

70%-19:

68-09

67-04

It wil be noticed that the

price

Cor: of Textile poration has dropped slightly two in the last

weeks and brokers attribute this to the in- nux of Japanese cloth and yarn on the local market. The Jap- anese prices are 20-30 per cent below Hongkong prices."

OVERSTOCKED

From the textile people I hear this is the position: the local market is overstocked with cloth and prices have fallen. There has been no opportunity to sell to Indonesia his lawyers on the job of getting

rectly Professor Covelli, however, Professor Covelli's envoya out. because the Indonesian authori Next day, to demonstrate his was prepared to collaborate with

ties have not Issued licences to the Naples electorate,

Japon the Christian Democrats only it hold on

import Hongkong cloth. they would give assurances of the Commandant staged a mass following a right wing polley, rally in the centre of the city of

how

Foreign Policy

which ho is also Mayor.

From a 45 foot high steel 4ower, run up in a matter of hours by the workmen of his

Macao Elec.

Telophone 20.00 INDUSTRIALS

Cement.... IBIS

LE 4 009 10

Spol rubber baled 500 19.00

Blanket crepe No. 1 pole crepe

24.30 35 200 @ 23 18.4940.00 500 10.40 400 10%

STORES, ETC.

Dairy Watson Lane Crawford

ко

...... 22.00 COTTONS

7 TAO "Textiles. MISCELLANEOUS

Allied... BATTLE

LONDON METAL

has exported not only the high count clothe to Hongkong but also the lower count cloths and

All

la different. Although montha

PRICES

*NEW YORK MARKET

Now York, Julg B. Rubber futures closed today

5 to 22 points lower with sales of 69 contracta,

NEW YORK PRICES

New York, July 8.

Prices of cotton futures today closed as follows:-

Credit Corporation

of

Commodi

purchasca

10,500 tons of Cuban ro- fined sugar for Iran at 4,25 FOB.The conty & pound,

RETLY Was expected to

/enter

the marteet again next for 5,000

tons, Futuro closings: Contract No. 4 (world)

Spot-icents per 3. cu NY

ex-duty)** United Press,

pol

35,300

Sept.

Judy

33.00

Oct.

Do%

13.08.

Jan

Dec.

34.10

Mar.

3130-40

Mar. May

34.50-51

July

July

Spot No. 1 sheets were quoted nominally 241⁄4 cents a lb, Future closings:

Failure of an early demand for contracts to expand brought realising by recent buyers, along with hedge selling as consumer

Prices of cotton futures today demand in the spot market re-closed as follows:-- mained at a low cbb.

Sport

Oct.

39.200

Contract No. 6

Bpot cents per ib, fob Cuba)

Dec.

33.251

Sept.

NEW ORLEANS PRICES

New Orleans, July 8.

Now.

Mar.

Mary

July

Begit

Nov.

34.10

July Oct.

33.04b

33.976

Noc

$4.30

Mat

July

24.55

Sept.

24.70

May

24.03-33

July

34.10

Dec.

24.00

Oct.

.11.zib

buyers wellery.

MET

25.10

768

709

25.00

Dec

May

74736

7186

July

25.30

2309%

240

*United Press.

237534 2:37+

DOT

13

2012 United Proks.

London, July 8.

markets metal

were is therefore directly competing steady. Prices closed today in with the produce of local mills. sterling per long ton as follows:

The yarn position, I under-

Tin, spot stand,

Copper, spot 3-months Lend, July

October October NEW YORK METAL

Ottawa, July 8. Canadian Imports from Com- munist China in the first four months of this year were more

The split extended into foreign fleet and shaped like the prow than triple the value of ship-

hero in the cor- policy. The Commandant con of a warship, he addressed ments from responding period of 1958, the siders that Monarchists should crowd of 40,000. Neapolitan ex- Bureau of Statistics reported vote for ratification of the Euro-perts said that it was a smaller

pean Defence Community treaty, crowd than yesterday.

the Commandant before the Italian Par

might have expected. lvment.

On the same day, Professor Professor Covelli wants to see Italy's claims on Trieste sats Covelli made a lightning sweep through all the towns surround-

Naples, He told Iocal voling the Itallin cry out

New York Monarchist meetings that the from Communist existence -Importa

an independent

Mintrest Commandant was a "traitor and

Alsterdam, China led: the rise in goods rey entity.

Djoked Mark ceived from Iron Curtain Above all, there has been alleged that his scission from the

EX DI

Don

The Bureau. said that the value of the imports rose from $208,000 in the Arst four months

of 1953 to 2003,000 this year. fted before his party joins in

to

countries. The overall increase was -from $1,803,000 $1,883,000.

Imports from Russia, how ever, dropped kom $203,000 in the first four months of 1989 to 394,000 1215 year,

of

ing

London Foreign.

Exchange

irich

London, July A.

3.81-13/16-48İ'S | 10.0 -10.4311⁄2 11.7236-31.7356 141,840,80

unchan

Diners were

NEW YORK FOREIGN EXCHANGE

party was entirely a device to of personality win himself a poet in the next constant clash between the buillent, dynamic. Italian Cabinet. typically Neapolitan owner of a

pokholmi After three days, the Com- hundred shipe and the suave mandant announced that six of parliamentarian and profession-he

40 Monarchiste, in: tho al politician.

Chamber of Deputies had already The Commandant announced sided with him and that doubt- secession from the original less many more would do so in Monarchist party one evening, the coming works, Shipmimte from Czechoslovakia a day before the party'an mem Memiwhils, two telegrama aped dropped

from | erilive wis due to ment, to go the villa (of the mulle k In 2007,000 to 1, 6502,000, for the consider, whether in dignisbiya (Portugal, mich; muquring him of same periods while those from From his position as honorary devotioni mandaralty and reach. mit Gecmany fall, from" $310,~| President and perhaps, even to asking for wi royal approval.ms 1000 to $99,000,---United Prem

h

expel him.

China Mail Becial

Hew York

FUTURES

** New York,, July 8. Prices of metal futures closed today in cents per lb., as follows: Lead, July

August TH. Jul

August

Rs

LONDON MARKET

London, July 8.

The rubber market was quiet and barely steady with No. 1 spot quoted at 21-3/10 pence per lb. Prices: No. 1 Rás spot .............

Settlemeni house, tatyti

September

13.58b Oct/Dec.

13,388 Janar.

98.200 Apr Jung

06 500 General markets, cif

10.430 July

Line, July

Aurum Copper, July

August

-United Press

30.000. Heptember

Edate crepe y'i Ehlášk

thin 2018

LIVERPOOL MARKET

Liverpool, July 8,

6.70

CHICAGO GRAIN

PRICES

Closing prices

per bushel in

Wheat, No, B, red

Opening prices, American cente [middling "13/16 inch, in pence

per lb., were as follows

01./Nov.

Dec Jan.

Mar/Apr.

May/June

July7AUR.

unquoted 2pis 21.43

Official, prices for spot cottons were all unchanged except: **** Egyptian Giza 20/good/fully

good 42.15h, ELECT The market showed, some, In- torest In Argening, cottons and 121-1 rather more in Medean, but in

was lack. general interest Unibod Press TIM

ports:

GE AMSTERDAM MÄRKET...

Amsterdam, July 8y

SAO PAUL LÀ

The rubber market was quiet. 2: Cotion (flures, closing prices, isest Prices closed today in guilders in cruzeiro berkle wore as

par kilogram, CIF, Aug, at follow

rubb

Epok

July 2009 (11) 2014(1)

Corn, No. 2, Yellow