1954-07-19 — Page 9

Disabled Visitors From Sweden In England

A party of eight disabled visitors from Sweden-polio sufferera -- who are starting s 1,200-mille tour of Britain by caravan-aro escorted over the House of Commons by Mr Donald Wade, Member of Parliament for Huddersfield and Vice-Chair man of the National Fund for Polio Research...-----Express Photo.

THE CHINA MAIL, MONDAY, JULY 19, 1954.

Belgians' Impatience Adds To Brussels

Big Traffic Problem

Brussels, July 18.

Brussels, like London, is faced with the problem of finding room for the thousands of vehicles which crowd its narrow, winding streets.

Every year the situation becomes worse, us another 10,000 vehicles come on the streets,

Long lines of slow-moving traffic in the rush hours avenues. But this inensure is and streets overflowing with parked

have purely temporary. Cars

During the awakened the municipal authorities to the

summer months, the continual need for driving on and off the verges, providing more parking space and straightening out which are a mixture of sand and the many bottlenecks.

gravel, 1s certain

raise miniature dust storms over the

to

bottleneck, city.

2.200

One of the first problems to be lackled

by a co-ordination committee set up to study traffic problems in the city, is the park- ing question.

A

suggestion

At present, there is room for and notorious as only 14 000 car to be parked in carries something like 22,000 The elly itself, which has a } private carf,

motor population of over 1,000,000 and cycles and 1,000 trams a day.

vehicle for one in every ten representing A totu

of ap inhabitants.

proximately 73,000 passengers. Trams clanging down streets Although the trams slow down used also by lorries, vans and traffic in many places, parti- private cars, add to the con- cularly when they run in the fusion:

strect Itself. they form only between six and ten per cent the total transport while And

Belgian's confused | carrying over 50 per cent of the Impatience and intolerance once passengers. behind the wheel of p vehicle only serves to increase that cat- fusion.

INCREASED CONFUSION

the

of

forward

old Gare

put already is for the conversion of the buildings of the du Nord, in the downtown aren, into a six-storey garage capable of taking up to 1,000 vehicles.

COVERED GARAGE

coa-

Another proposal is to vort a former greyhound rac ing stadium in the centre of the

into

covered public

garage.

The main avenues are wider then the ordinary street but much of their driving space s taken up by parked cars. Only Mureuver there are few arcus the avenues have macadamised city where a speed limit is imposed surfaces.

**** and true lights are only now

Almost all the streets

with are paved

cobble stones beginning to be installed in any number. As on: Brussels taxi driver remarked: "They do not put up lights at a crossing until there have been at least dozen accidents there,"

Both of these parks could be which need jess attention and used to help relieve some of wear longer than macadam.

the congestion but so far they are paper plans.

Officials of the

of Administration

grout chance of

FRONTAGE BLOCKED

The Brussels Chamber Commerce has recently taken Traffic experts say that as the up the traffic city continues expand and city on more people leave the centre to live 00 the outskirts, problem will become worse.

ไป

the

Each year, the rate of "long distance travelling" as compared with "short-distanco

ה!

a

Transport admit that

solving the question in the problem was lost recently when the grounds that many of the smaller shops are being levelled to build a railway link

some of the city's centre driven out of business because between the north and south

WAS

their frontage is permanently stations, as well as a new station block:d by parked curu.

and a modern seven-storey air terminal.

In order to make more room running" for vehicles, parking has

λ number of underground

the city Increases. One recently been authorised on the garages could have been built avenue leading out of the city, tree-lined

of verges

Cancer Research Congress Will

Face

many without difficulty while the new ral link was being dug.

All Problems

Sao Paulo, July 17. The sixth International Cancer Research Con- gress, in which researchers, doctors and specialists from 47 countries, including Russia, are participat- ing, will begin here next Friday.

In the cancer fight will be up many

The large-scale demolition of old houses, and the widening of the tortuous streets which ran between them, have dono away with many

bottlenecks. But the overall parking space has not been greatly increased.

PLANS DRAFTED

Transport officials are deter- mined not to miss a escond such opportunity. One

of way solving the traffic congestion is to separate public transport from private. To this end plans have been drafted for putting many tram lines underground on much of their circuit. The digging of the necessary tunnels would allow underground

garages to

TRADE

Trade Mission Could Not Resist Politics

From Our Own Correspondent

No Communist trade mission can be expected to confine itself solely to the subject of trade. Sooner or later it is bound to drag în politics. And so it was with the Chinese mission which came to Britain to discuss the possibility of expanding Anglo-Chinese trade.

They made a fine offer-up to £100 million worth of trade this year. But only on the condition that Britain ended the embargo on the export of warlike goods to China.

This seems to give the lie to the Chinese claim that they now better understand the British viewpoint. For it was mado perfectly clear to them at every stage of negotiations leading up to the visit as well as during the actual talks that the subject of the embargo was not on the agenda.

{¢ን

Why then were they invited The Chinese, come to Britain? The rea munist FOTITE son was given iz 0 letter to the Chinese Minister for Forelan Trade by the Federn- lion of British Industries, the London Chamber of Commerce and the China Association last March.

true to Com- set up a target and only then proceeded to the conditions. One of these is that the trade musi be balanced country by country. words

In other China

will buy from Britain

only if Britain buys more from China.

Up to a point this is reason-

more

COMMERCE SECTION

APPEAL TO END TEA DEADLOCK

Cairo, July 18. Colonel C. J. Harper, head of the International Ten Butesu ĒD Calto, to- day made angiher bid to Egyptian-

end

Ceylonese tea deadlock.

He appealed to Dr Abdel Hari EL Sherif, Frag Finance Minister, to lift the ban en Imports of Ceylon tea.

Tho has was imponed roma wécka nzó because of the unsatisfactory balance of trade between the two countries.

Colonel Harper said the Finance Minister told him the ban would be lifted !! Ceylon would show good- will, perhaps by buylog Egyptian cation. picoe goods, textlics ог other commodities—Beuter.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

Page #

Cheaper Money Talk Started Boomlet

In Gilt Edged Stocks

From Our Own Currespondent

Talk of cheaper money started a boomlet in gilt edged securities on the London Stock Exchange last week and prices, especially among undated and long-dated stocks, fairly leapt ahead.

War loan 32 per cent which carries tax- free interest for overseas holders-rose £1/16/3 to £68/18/9 and 2% per cent Console-otherwise known as Daltons were up £2/5/0 to £90/16/3.

соп-

An upsurge in demand for and the money market for whom both investment and speculative the new stocks wore not purposes found dealers short of sidered suitable. But it appears stock and at one time turnover that many of the banks have was described or "enormous." deelded, in view of the down- The Financial

Times Govern-ward trend of interest rates, to ment securities index reached accept the new 214 105.20

per cent Thursday's close, issue even though this means after staring the week at 103.67 lengthening the average lite of and is now at its highest level their Investment portfolios. vince 1951.

BUF-

Despite a trend to

Д Jower interest rate financial commenta- tors have expressed some prise at the Government's latest Business done on the Hong-conversion offer--which touched kont Stock Exchange this morn-off the boomies should have leg amounted Noo. quotations and the mora 10 $378,192.20

gone down en woll as it dikt.

ing's transactions:

A short line previously the able. Trade cannot be conduct- SHARES DUYERS BELLERS BALES Chinese hud made It known

ed in one direction only. that any British businessman

And if no other wished to trade with China found trade that is balanced on formula can be should approach the East Berlin strictly bilateral basis

who

Import and Export Corporation through gentlemant named

战

Mr Roland Berger,

to

office uf the China Nationalbetter than no trade at all,

But the Chinese have either failed to grasp or choose Ignore other factors which de- termine the level of trade be- tween one country and another --for example how badly the one needs the goods, the other has to sell,

Berger is not only the Chatr mun of the so-called

China Trade Committee, but also of the British Council for the promotion of international trade which the Foreign Office regards as a Communfat Front organisation.

MADE CLEAR

to the

Arc по соп- expansion

avolded

INDUSTRIALS

Union Lombard Underwriters

DOCKS, ETT K. Whart

៧.

BANKS

IIK Blank East Asia

1000 1000 1180

13

8:00 670 100073%

01

7

Provident (0) 12% 12.70 1000

12

1000

13.08

Wheelock

7.10 71%

11ongkew

LAND, ETC.

IK Hotel

4000 0.16 2300

$2&C Lond

5015

00

Nealty

2.02 3.10

UTILITIES

Tam X. ..

Star Ferry

$30

If Britain hatt followed Chindao

the Bro It could

have the post-war dollar crials since it would have Im- ported no more from the United States than t exported to them, But the result would have been national bankruptcy.

by

Arst

existing direct

It is not for Britain

nessinen

economic

to tell

SOME SURPRISE

Response to the new funding offer also caused some surprise.

his issue was said to be extent of the demand for a 50-

to determine experiment

year stock. The result exceedod the wildest hopes.

ས

GA the

BANKS ACCEPT

With the gilt odged market Holders of the £635 million still climbing a ready

demand of 14 per cent Serial Funding expected for the £0 million chaloe of of 3% per cent stock 1008-74 stock were offered a converting into either a new that the World Bank is offering 2

per cent Exchequer stock for sale next Wednesday 1908-04 or a new 3% per cent the price of £08 per £100 of Funding slock 1999-2004. Almost nominal stock. eighty per cent of the Ing 1954 Serial Funding WAR

outstand- stock

tendered for conversion £274 million into the now Ex- 1.00 chequer stock and £139 million 9.10 Into the new Funding stock,

Most of the outstanding stock was in the hands of the banks

19.00 223 € 19.30

Yauma ferry 140 150 210 a 149.

C. Light (0) 18.00 13.90 1000

16.00

C. Light (N) 12,70 12.90 500 Electric

31914 200

12.80

Macao Elec. Telephone

1000 215

1150 27.20

21:5

1.30 $1.60 1600

23,40 23.60 1500 16.80

100 in 10

130

€ 159

3.80

World Rubber

Markets

Singapore, July 10. The Singapore rubber market had a week of great uncertainty activity, according to 7.40 800 9 7 the rubber brokering firm of

1000

JAPANESE

and fair

300 Holiday

Cutler Bath and Company Limited in its week- end report.

After tending to mag away at the end of last week due to lack

It was made clear in a letter to the Chinese Foreign Trade Minister that their arrange- were not acceptable to ments "a large majority

ECONOMIC REMEDY of those for industry

When a democratic country la

INDUSTRIALÂ'. and responsible

Cerhent trado in the United Kingdom in economic difficulty it usually STORES, ETC. and, therefore,

tries to and on

Daley Waton ducive

of remedy. Thus Britain embraced trade."

(N) "multilateralism'the method Kwon Bang of trading that seeks to balance In the view of British sign-Imports and exports

Hong tories there was room for such rather than a country to country MISCELLANEOUS

on globai COTTONS

Dexile Corp. an expansion of trade "within

basis limita

Affled Imposed conditions." but relations had to be established China how it should conduct its with Chinese state trading foreign trade but British busi- authorities.

have every right to prevent themselves from falling into a political trop.

They ask themselves the Chinese

expect them barter (for this is what amounts 10) locomotives for Ilquorice, steel for hog bristles, and electrical generating plants for fibre hats.

It may be that

the Peking

Singapore, July 10. Government has over-estimated the value to Britain of

Textile merchants are permit trade.

Do they

Chinated to import Japanese textiles bellove that Britain needs new markels

to the vqlue of 32.5 million pore market. badly that it will accept almost Malayon dollars during the next any terms to get them?

six months, according to the quata announced by the Gavern ment today.

At subsequent talks in Geneva. the Chinese accepted this view and also an invita- tion to visit Britain to discuss the matter further. The original sponsors were then joined by the Nailonal Union of Manu- facturers and the Association of British Chambers of Commerce, arid the Sino-British Trade Committee was formed to act as the negotiating body.

PUBLIC STATEMENTS According to public state ments by both sides, the talks achleved their original pur- cleared for an pase, "The ways have been

expansion

of

why

to it

TEXTILES

of Irado and factory interest, the report said that prices advanced

with suddenly

from news Moscow Radio that Indcricainní shipments wire for Chinn,

FOR S'PORE Rumours, which

Anglo-Chinese trade within finding their efforia to break of the now quota system is the

the

ONLY TOO WILLING? Perhaps. But it is more than

the Chines likely that the British embargo by

the whcls Jecting British Chinese

trade hence-

to between only

too willing to means of freeing channels

the mills set by the strategie embargo," sald *Direct contact will forth bo possiblo British businessmen singly

groups and any of the branch offices of the státe trading organisation," said the Chinese.

Moreover,

British mission

in

All mosk

10 new-

In

EQUITY MARKET

market

at

tho

the equity week's biggest rises have been in shores of companies that are expected to benefit most from the ending of restrictions on hire purchase transactions,

Radio Issues and H.P. Anance com- panies shares were well to the fore.

Elsewhere the recent up

tended surge of equity prices to slow down though the tone was still very firm and the in- dustrial Indox continued climb day by day to new pelike. But its ascent was by fractions instead of as recently by several points daily.

NEW YORK

STOCK MARKET

a new

Now York, July 18. Trading in stocks this have been week-helped by a 3,000,- that substamilated,

Indonesia was prohibiting the export of 000-share day--set the higher grades of rubber to high since | Singapore, also played a strong | 1951.

part in strengthening the Singa- Revelation of a

February 8,

Has

That 3,000,000-share - session fall in Singapore stocks at the came on Thursday and it was

the first one the market end of June amounting to 7,230

had since April 6, 1953. tons contributed further to the Improvement of the market, but The Controller of Imports and a dential by the Indonesian Am- Washington that are Exports said the main feature bassador to

rubber was being shipped to China evened the position, sub-encouragement given of Anglo- comers and smailer firms who

London showed some buying impossible got quota up to 10,000 dollars. conditions had falled, are now Thax newcomers, Mr G. Saidan interest early in the wealt, buat was Irregularity. The industrial

their enthusiasnt was dampened discuss Len said, will be given

further by the refusal of New York to the very considemble Helds of allocation of $16,000 it found follow the advance. trade that remains unrestricted. China needs many of the things Britain is willing to sell. It also needs markets for many of its raditional products. Here

It was a week of excitement AA beginning to end from

news on traders followed the Individual items and groups. They were as ready to sell as to buy.

The not result of the week

average closed with a loss of $1.29 points. Rails gained $1.94 points and utilities were up 38 cents. $20 million Quotas worth

The two markets, particularly

Trading reached 12,826,400 wore issued in the first _81x | New York, havo been so far

sburca months of the year. Mr Lea below Singapore that they have

Railroad said the Government has been resold a fair quantity of rubber outstanding

shares were

the group major holding another 17.5 million

Top dollar quota un reserve to me specially No 1 sheet, for July features.

Ол

Thursday shipment making a very salis. their average was at its best "unforeseen conting:noles.

This, the level sinco. October 10, 1930 factory abitrage. Mr Len said the total quola

AIRCRAFTS DR Jast

for

necessary.

the

›

Anglo- for this year is 70 milliontheroport sald, to somo.oxient age|

is to pay a return visit to Pek- the London Ing to follow up talks

discuss and

specific

then was the basis for the frank contacts.

encouraging-until exchange of views.

Looked at in this way one looks again at the Chinese statement.

of first round of They

the spoke £30,000,000 to £100,000,000 Chinese talks must be judged a

There But success, worth of balanced trade,

is reason for the good they want to buy are disappointment but hardly for that the Chinese do. nearly all "embargoed." Leave surprise theso out and only a modest cided on the ove of their de- de- increase in Anglo-Chinese trade parture to risk upsetting

that would result.

PROMISING

But even this is promising. For the important thing

from the British point of ylew is that the Chinese are now "less

same Press.

year, United

Ilcato negotiations have CHINESE MINK

now been sol in train by mak- ing a little political propaganda.

Bank Of England Statement

London, July 18.

London, July 18. The Moscow Radio announced today Chinese mink will be

offered at the Leningrad for auction this year for the first time-United Press.

Sugar Buying

selback Singa→ counts for tho pore encountered sinco the early part of the wook.

La

Aircrafts were strong all week

on nows the Air Force soon will Resistance from consumers, sign now contracts for a vaat particularly the United States, amount of now planes. The US Army is ordering 260,000,000 of to be expected of hos military tactical vehicles. This lovel of synthe les, which

news helped been reached, the report says.

which make them.

Demand for

the rails

the

companies

Bui it is undeniablo, that world stocks new gill falling and based on analysis that the roads will be some months before sholdd do better in the coming the natural laws of economlos |months. Some of the road-eqtlip»/ can. adjust the situation. The ments joined the carrier upturn,

President. Eitanhower brokering firm concludes that

there is as yet no evidence of spine groups an assist when any deterioration in the situas suggested to the conference of ton and prives slightly below governors n 10-year $60,000 the oxisting level wiij. An ill

-federal road', 000,000

building probability at ract much new and for a time for cdmont programino, That sparked stocks

and issues of the com» SINGAPORE PRICES: panies which make the big earth

Washington, July 18. The United States Agriculture buying.. Department announced that it 354,814 has bougit 5,000 tomm' af addi- Totional guzar to send Iran under 11430,082 ah aid? programiner

This bring 40,000 tons

313,366,109

inflexible in their attitude to wards such technicalities K.J terms as contract; method of bo bulit at the same time.

payment, Inspection of goods, arbitration and so on. Some The Bank of England state- Officinis say that to do away

to have been ment for the wook ended July 14, with the relatively small number progresa appears The programme for the Con-Paris where they will pick up buses would have

reads as follows: of trams and replace them by made oven on the vexed ques- 1lon of allowing British

sterling little effect gress shows that- virtually the viams to enter Brazil.

Test | technicians. Into China to Nole in circulation ... 1,075,006,040 on the congestion, since there provide. after sales services.

Pubile deposite entire range of problems faced

Frlyste deposi In addition to the Russians, would still have to be ap-

On the other hand there in dovernment recurißer a same number of the top zelentists proximately the

the fundamental between, the Other securities for discussion with nearly 100 working on

of public transport vehicles.

Heceipts cancor Including

British and Chinese approach to special papers to be delivioned | representativos of the London

to the quistion: how

much

United Pres by researchers from the United | Rogal

has not been trade is possible. The port Cancer Hospital, the

The British FRANCH' BANK STATEMENT forgotten in the new States, Canada, the Brite Curie Foundation of Paris, and More islands and anore under

plans. any simply there are a number

Paris, July 18.- of products which they' can and The Banic of France statement Isles, Europe, Africa, Asia and National Cancer Institute of ground passages are planned. will export to

Washington are already here or for officials.

China-mon | for the week ended - July 8, say that it is the mutually acceptable terins. The roads as follows. pedestrión who

most || limit fla, set only by China's The presence of the Russians

from the over increasing number ability to pay and they point Total to holdings Most of the major United of cars in the city.

out that langthis woremodet. 19in) other currenciarum Mass 106, was contrmed by Professor Stathe hospitals and institutions

“Chinak....... Isau. 25thə favourable Antonio Prudente of Sao Paulo, working closely with cancer "If the podestrian will only batwien of trads with Hongkong president of this Congress who research and treatment we send not satworm womy pay for the foreign exchangers from

show

discipline, which and Trautmientation Income in ou said he had received word that lng top men and the total of Bruncle “public hi jot in the ment home by Chinese emi the Soviet four-man Delégation delegates to exported to exceed city will be dudler too, they adds as wellem is, peavic has left Moscow en route to ] 500;United' Press; :

--China Mall Spaciál

eunilatet reserves of stefling

the Near Bart

1

franc

01381.581/

The

Birgitpore

ore, Júly 18,' Intovers.

The market sagged on lack of Ulities, got into action when total purchases under this, pro trade support on Saturday after Burlington Mills got controlling Goodal-Sanford opening on botter oversens nd-Interea vices. It closed a little better (palm beach sulis) for 320 however, on slightly improved hate. The latter stocks soared Iri heavy turnover. Other textiles tracks buying

moved higher with it.

gramme-United Pross.

Exchange Rates

Chlo

Dejan jope wag, dotse ls the tort

thing-it the following, rates:mi

röptal (ber (100),

Tuture closinge:

No 1 rubber per tb,

Opber

No. 8. rub

Blankes Férepe

The sin were the soft spots. They were down substantially in the Friday gemion and for a time unsettled the market. Soms..... of them made smart, recoveries In the last soaring of the weaky holmbly, Citidsservice which regained $88. The major inter closed the wook with declines of *2 points or more.--United Fres