1954-08-23 — Page 9

THE CHINA MAIL, MONDAY, AUGUST 23, 1954.

Canadian Choir At Westminster Abbey

MMERCE

For the first time in the history of Westminster Abbey-3 Commonwealth Choir takes f an all- over the singing of the Sunday and Daily Services until the end of August. inale choir from St George's Cathedral, Kingston, Ontario, Invited to London by the Dean and The Chapter of Westminster at the suggestion of Sir William Mckio, the Abbey organist. choir, (10 men and 24 boys), will take the place of the regular Abbey Cuir, some of whose members will be on holiday, Express Photo

NEW PARTY CAUSES POLITICAL STORM

IN KENYA

COLONY

Nairobi, Aug. 22.

Tropical storms are not unknown in these parts, but it is formation of Kenya's newest pon one in recent years to rival in loader, Mr Michael Blundell, ancal storm raised by the recent doubtful whether there has beelitical party by the European intensity and clatter the politid five of his colleagues.

The reaction to the formation of the United Country party, pledged to the furtherance of multi-racial government and having the declared objective of inviting Asians and Africans to join its ranks at an unspecified date in the future, has been noisy and confusing.

jared. To talk of preserving behind epresent the reality of power

apparent concessions to a multi- rett ident is just hypocritical nonsense."

Almost 1:31 the European European Elected Members voters in this colony, now in its Mr Norman Harris, twenty-secondi monti ofing Nairobi constituency, Mr #truggle bgains! Mau Mau George Usher (Member for the terrorism, have, at one stroke, Copsi), Mr W. E. Crosrkill, been plunged into another war, (Member for Mau), and Mrs this time on the political frunt. Agnes Shaw (Member for And this "war." in

first Nyanza). its phases, appears to be every bit Since then, these six European; as bitter as the battle of bullets, politicians have been the centre bombs and idens agulost

a political "torm which some Mau.

obanver, Fere believe may s

the next general Mr Blundell, who has domin, until after aled European opinion outsulertection in the colony, probably the Government

Mau

for the past. 1956.

two years, is now being assail-j

ed for his decision to create an entirely new peiition) fo: um

here.

There

of

"

Now

i

Directly opposed to the United Country party, the Federal In- dependence party has recently proclaimed three-point plot- form, in which they asked the "Do You Europeun voters: Believe In-(7) the Security of European Rights? (2) The re- moval of Colonial Oflee control aver the white areas of Kenya? (3) progressive advance- and

all on the Western

Federal Independence

for

altern The

last

the

Yet another European Elected Member, Group Captain L. R. Briggs, from Mount Kenya con-

sutuency,

has condemned

Anglo-Japanese Trade NEW YORK

STERLING AREA PROBLEMS WILL BE DISCUSSED

From Our Own Correspondent

London, Aug: 21. Problems of Japan's trade with the sterling area will be discussed at three separate conferences in the next few months.

The first will be a meeting in London in the early part of next month between British and Japanese trade experts to discuss the operation to date of the sterling payments agreement.

This will be followed a month later in Geneva by the ninth sessional meeting of GATT at which one of the chief topics will be Japan's request for full membership of "the tariff club.”

The scene will then shift back million "in the red" in is therefore, that she still opposes: to London for further 13ks be- sterling trade. There were two | Japan's entry Into GATT, tween British and Japanese ways

Alcials concerning the renewal the payments agreement which is due to expire at the

ut

ent of the year.

There conferences will be held DRABAL a background of deepening cronomic crisla in Japan. For the Japanese, as well as the British, "export or die" not so much a slogan

10

1s

German Motor

Assembly Plant For Mexico

of

Meklos City, Aur. 32. Banker - Industrialist Miriel E. Abed reported today the Mercedes Ben Automobile Company Germany would establish large assembly plant in Mexico early next year.

Abed sald the plant would produce

STOCK MARKET

New York, Aug. 22. Industrini sharos led stocks to around their best levels in nearly a quarter. century during the pnat week.

}

The trading' volume declined sharply, however, and the total for the wetk at 12,473,391 shores was dowir more than 1,000,000 sharca from a week ago. Dally average sales totalled 2,454,878 low-priced

shares,

ogdinst an. average of 2,700,982 shares Inst week.

cars, buses and trucks. It employ Alexican workers and German technicians, and be financed Jointly with Mexican and German capital. -- United Preas.

.

HONGKONG

STOCK EXCHANGE

of balancing the account Nevertheless, Japan will prob- Japan could be given the oppor- ably gain sufficient support at tunity to increase its sterling Geneva in October to ensure earnings sumciently to enable it full membership Then unless

(From Our Correspondent) to maintain its imports from the British policy took a remarkable sterling area at the prevailing and quite unexpected turn Business done on the Hong. arate of over £200 million a Britain would exercise her keng Stock Exchange this mean

year-or Japan could cut her right to withhold formal "most

Dating

amounici sterling purchases by half: favoured

to $470,016.90. Nech quotation and 100 Japan.

morning's transcetions; SHARES BUYERS SELLERS SALES BANKS

BUSTAIN INDUSTRIES

3

nation" rights from

But with Japan in GATT Is a grim reality But though Nelther side wanted to adopt movement In Britain which the similarity of their problems the latter course. Japan needed opposes British membership on Incliner the British Government sterling.. JAW materials to the grounds it inhibits free sympathise in Japan's dim- sustain its industries. Britain netlon on tariffs to keep Imports culties the fact remains that wonted a balance of trade, at the cut of Britain and the colonies Britain and Japan tre bitter highest possible level. In the rivals lo trade.

when they threaten domestic event Britain established

quotas home market of an industries would gather strength. tho Vaditional £3 millions worth at 40s would not suit the Govern-

of ment which firmly believes LAND, ETC.

ELF INTEREST

It is self interest, therefore, and not sympathy that deter- Japanese goods and at the same there are strong advantages for mines the British policy on time told the colonies that they Britain's commercial interest In trade with Japan. The difficulty could henceforth buy up their

to be sure where the self full requirements of Japanese membership of GATT.

"What to do about Japan" is goods. Japan on her part pro- therefore the interest lies.

prime question As a major exporting country mised to maintain its purchases facing British commercial polley Britain's interest is clear. It is from the colonies at the

then makers.

And the deadline for to win markets from Japan-or current rate.

producing an answer is Decem- | But as the head of

This agreement was severely ber 31 when the current Anglo- anyone else, the sterling area she cannot celticised in Britain-specialy Japanese payments agreement afford to keep Japan short of

by the Lancashire cotton In- expires. cans to buy from the

dustry. Yet if the agreement: Commonwealth.

has failed to achieve the desired

year

in

It was thin-inter-considera-high level-of-balanced trade it tion which prevailed earlier this is moti because it has resulted in when Britain made. major a repurgence of large-scale concessions to Japan, to enable. Jubaltese a compalition the It to increase its exports both to colonial fmarkets. It is because Britain itself and to the colonial even now Japan cannot export

Japan Was £100 enough to the sterling area. markete.

PAYMENTS BALANCED

World Rubber

Markets

World Cotton in fast, balanced in the first half week coupled with an air of

Markets

Her

Crop deterioration complain's imports from the area glum seas demand and the rather un-

May

part

many sections of the belt of partly a reflection of Japan's wilting, shedding and premature internal difficulties.

the

#

adda

on

Un-

It was the 27th weekly rise of the year for the Industrials which closed at 350.38, highest since Oct. 14, 1920.

Railroad issues had their ups and downa, but they managed to close with a gain of 78 cents at an average of 120.25,, only a few cents away from their best levels rince July 6, 1030. Utilities finished at 81.58, also highest since July 6, 1931, and up 0.37 from the previous week.

MOTOR SHANES ́ ́

Motor shares met demand from time to time. Some mem- bers of the mercantile section were bit up.

Among the list of special Irzuca move ahead there were two lines of buying-Investment. and speculative,

On Thursday the investment demand increased under the leadership of such aristocrata ns 10 1715 Du Pont, General Motors, Proter.

and Gamble and US Steel.

IK Bank DOCKS, ETC.

K. Whort... Dock Wheelock

1710

70 72 200 71 2115

2.45 2.00 3000 47 714

JC Motor

#K Loud Humphreys. Healty ...

UTILITIES

Tram Star Ferry Ysumat! C Light C. Light Electric

21.40 11 0100 11.10

1000 11.20

1600 à 11.3)

1000

1140

1700 11.30 2000 # 11,00 on at 500 & co 10.30 10.40 2.10 2.8735

14.00

(N) 12,00 13.20

25.40 23.70 17 17.00

Macso Elec. 11.10 Telephone... 20.00

INDUSTJUALS

Uzment Hope..

STONES, ETC.

Dalry

23.40 25.50 ..... 27.00.

000

The merger of Studebniter and Packard was consummated": but it failed to generate big. demand for those stocks.

Steel shares closed the week irregular.

Standard OU (N.J.) featured Its department with à rise of more than five points. Chemicals rose under the leadership of Du Pont which gained 5 points.

Altogether there were 531 · declines out of the 1,444 Issues 12.00 | traded, gainers numbered 720 Issues. There were 184 | Issues unchanged.—United Press,

700 7 18

COTTONS

Textile Corp 0.55 7 2000 or 7

MISCELLANEOUS

Allied

Exchange Rates

businen was done iri the, local, unofficial Exchange' market moning, at: the following ratess VS. dollar, (per #1)_. Sterling notew⋅ (per &1)

Indonesian rupiah (per 100) Slam leela (Der 100) Streapore (Siraits).

DIALE 4.15 4.30 8003 @ 4.25)) Indo-China piastros (per 100)

London

Still

Markets Above

Season Levels

From Our Own Correspondent

London, Aug. 22. The London Stock Exchange took on a more seasonable look last week and prices in both gilt- edged and industrial markets lost a little off the top.

of the wing the crop picture and imports. According to a spokes- shipment are again on the short 15,600 the week before. But they were stiil well

formation of the United Country party, describing the sponsors move as "unstatesmanlike which can only lead to diversion effort from the Emergency party politics."

to

Man

Singapore, Aug. 22.

Watson The Singapore rubber maritet Jan's sterilng payracate ware, has A fairly .active trading

of this year. But only because great

said the uncertainty, Japan cut down drastically on weekly market report of the Any accurate assessment

is imports from the sterling rubber brokering firm of Holl- of Keuyn's 42,000 party claims that it is pledged

area. Compared with the the Emergency, the oplnilor

first day Cutler Bath and Company Throughout

towards the have bern Europeans European

six months of 1953 its exports Limited. polities

to split with his fellow Euro- is still groups United Country party confused, with fue:tons,

£15 pesins

the On

Legislative

to the area increased by

The report says slacking over- for impossible, although its sponsors Counell

"Lyttelton

New York, Aug. 22.

million to when vying

The

£00 million. and spiläter-groups

claim that the initial response Plan" and supporters. recognition

WBG introduced

expected news that the workers Over all, acting as en umbroth, has been good.

March. But Mr Slude Imself has gave the cotton futures market £50 million to £60 million. of a second big American rub- Whether the the Electors Union,

United Country not responded has stood

to this

support

The big lift this week.

is likely ber manufacturer had gone position morcover purty is going to command the and since the formation of the Gains exceeding $2 a bale to deteriorat: in the eccend halt strike brought prices to a low on organisation with the almost

task of impossible

unifying support of The majority

WUTE of United Country party, has de- chalked up before the ef the ye when Japan bami ebb. Apprehension on the part European thought and support European electors ur pol In clured himself against the marked levelled off under hedge tɔ make heavy sasonal pur- of operators became apparent as alected Buro- the future remains to be seen, formation of all political parties telling and realising. All deli-phaser of sterling foodstuffs end certainty as to when the strike

it was realised that the lng and guiding

on representatives

the but there is no doubt that in Kenya at the moment.

troin veries pean

forward iw ma'trials.

real Colony's Legislative Council. has split European thinking. On the declared aim of

would end formed a very touched new seasonal highs, Why has the agreement failed

the The first attack bc-

danger, The stresses and strains

on the new United Country party to foster Conceding about half of the in its primary purpose?

The Potential

report tween varying political groups, party, came from one of Mr a multi-racial government, Mr gain, the list, at Friday's close answer 15 partly that tha ostensibly united in the Electors Blundell's former colleagues in Stade has declared unequivocal- ruled up 7 to 23 points-35 cen's colonies, though

A report early in the week now I:to 10 Union, grew as each month of the Elected Members Organisa- ly: disagree with any pro-to $1.1 a bale higher than the Import all they want from that strike talks might be re- the Emergency passed. When tion.

posals for the permanent estab- Preceding

week.

Упраль for most

sumed in New York and coupled the then Colonial Secretary, Mr Within 48 hours, Colonel S. ishment or development of the

nunny weather discriminate against Jar with renewed oversens demand,

| they Oliver Lyttelton, produced his G. Gherale, who represents one constitution of Kenya on the brought in complaints from encse goods. But it is also the European continental coun- and particularly from London plan for multi-racial government of the two Nairobi constituencies, lines of the Lyttelton Plan." for the colony last March and had declared the inunching of

tries, strength in the market im- proceeded to put it into effect, the United Country party to be

opening of balls. Without Before it can Lake full proved a little. these differences could no long- "a great mistake" and said that

JAP INTEREST cooler temperatures, and advantage of concessions granted er be concealed,

1 would

Japan split the Colony in

early arrival of genersus rains, carlier this year Japan must

has shown two. He said that the formation

rders sceled to discount the reduce

some internal costs. This interest this week mainly for of the party at this time was

Activity was on a reduced scale;`bargains in the deliberate the possibilities for a lower govern- | entails

disinflation lower sheets, the report says. presuming at too early a stage

ment crop estimate on Septem-which

wer Suppiles for the current-month's first four days of the week averaging 12,850 as against in and that was resentment

multi-racial

means lower government

urn ber squabbling among the 14 Earn- would be a success and accept

side and commanding a small above the level normally ruling at this time of the year. ̧ the elected members

abic to pean

In his to the electorale.

supply situation, statisticians of Trade Japan has faithfully premium. Legislative Council before, by a opinion, Kenya's future lay in

The United States consumption commented that with on in- carried out its promise not to

Several factors contributed to advança wast about to narrow majority, the "Lyttelton federation with Tanganyika and

bo Plan"

the decline of for titree

prices which | resumed. European the Central African Federation,

dicated crop of 12.8 million cut foreign exchange allocations for July is expected to show Mr Maconochic-Welwood, the Ministers, two Asians and one Hard on the heels of Colonel

bales, an estimated 13.7 million

Stores shares, wore the worst for sterling Imports. But Jap- decrease which is only natural, thaugh widespread was nowhere African to join the Government,

Ghersie's strictures, come those and Mr Havelock, also disapa tightening "free" supply of generally short of funds

sufferers lis the weak's declino hose fellow Minister of Mr Blundell bales for domestic and exports, anese importers, he said, wore the report adds. July is a par" very savers. from was accepted.

beticularly high month of con- another member of the

and losses were also sustained the appeared to be in the cause of

Government's sumption and the strike should]

Gilt-edged was showing signs by motor, paper So opposed were some of the European Elected Members Or proves of the new party. He cotton

and einem has declared his belief that the making after the European elected members

of boiling over just before the shares togenisation. Mr Shirley Cooks, a

crop deflationary policy and were. have had an effect on Agures. majority Europeans in Kenya the plan and do their colleagues member for the Coast, who de-

movement in completed.

therefore, unable to increase Singapore stocks at the end of close of the previous week and are "sick of politics."

the downward movement that who agreed to It,

LIVERPOOL INTERESTS

| BRIGHT FEATURES they scribed Mr Blundell ond

July showed a small increase at

Was Imports. But none of these critics of

when re the once resigned from

all- fellow

Interests were

45,807 tons compared with 41,277 |.5sumed on Liverpool pirty supporters

the new party shares and united

the same

ports of murlist Chine Elected "tbels consping to defeat the

EXPECTED REQUEST

But generally the dull seno powerful Members Organisation.

mela body of the European recently

political

by one or there views, And all have prominent sellers of the March

It is difficult in this circum-tone in June-United Press. and May deliveries during the

CEYLON TRADE

ihreat to invade Formosa and was relieved any wak -disclaimed Mr. Blundell joined the Gov- Elected Members

Estimates

bright features. The arinoumen- were that stances to see how the Briush at the next allegiance to one another.

Colombo, Aug. 22.

`a railway strike porsibility of

Įment of a scrip .. teque. home gave investors further

by ernment 43 Minister without losion."

Ceylan'e Rubber Commissioner reasons, for holding their possibly 200,000 bales have been Government can meet the re- It is probable that the majority Portfolio, as did the former

Cunards and the improvement Mr Cooke has announced that

on quest Japon is expected to make today fold here for Liverposi

daniel reporta

hand. that, at next month's

The fall in the value of the in freight rates helped wit chairman of the Elected Mem- he intends to try to expe! Mr of European Elected Members told

beginning next week, rubber bers, Mr Wilfred Havelock, Blundell and his five collcaside

shipping section: pound on the concessions from

world's foreignment in the will Ket reopened on May 18, on the Legislativo Coumell out | Piraddies since the British */ zurthof - trade meeting

to producers would be forced

45 to 488 on gained who became Mmister for Local from the Elected Members Or eventually combine under the The Census Bureau on Friday the sterling

markets, though Cunerds, rell at world prices, Government. The third European ganisation. He has accused

to The colonics, are bilowed

and said change

the week seasonal, wns an additional Tuesday, but closed ministerial post was offered

banner to six

that producer can continue to of the Electors Unilon, reported domestic consumption "rebela"

freely from Japan. It is sub

import committing and accepted by, Mr Laurence terfuge," alleging that they did United Country

which condemns both the of all row cotton during July at

Other

ences wire niso Whipping 542,577 cunning bolts. The figure up to them whether they do so I to depots at existing price of cause of nervousness at midweek, one shiting below this lever. Maeanochie - Welwood, not.

party

HOLDING OFF. and the inform

better on

on the week. As to admitting more ons ruper ten cents, compared alber European Federal Independence party. patrician settler who has stood Elected Members of their inten-

was about in line with trade ex- or

goods to the British the world price of 72 cinte

TOUR DOS, Wem đem án thể The Electors Union, until re-pectations and compared with

Shippers had warned rubber Industrial shares took the news of increased aloof from most of the political tion of forming the new party, cently the most highly organised 781,076 bales used in June and home market this would simply producers that they, zooh might lead from the cult-e-ged markcit sales in the United Store La

nod three months

have to sell at world prices and, with buyers holding off, sign that the cancer scares were after the

strongest European_political | 742,004 · codisured in July. clam thah that: formation

lavelled against because price arrangements with prices drifted lower each day at Kenya's

in Kenya, has, by last year. Dral

organisation

Consumption for the 12 the Government when I first

> "From my point of view, they Inference, declared itself in ap

| China may collaps Ceylon's more nervous opersions took In the vil multi-racial government, Euro-

looking snarket scattered, pean politics were comparatively must be expelled from the position to both parties, sta

"Until the European electorato months ended July 31 thus was tons on Japanest

goods.

with" China” on....next.

relling had to lower pri subdued apart.

boosted to 8311,202 bales But it The dimculty That even

The Financial Times: ordinary | Anktb-Irahinis” which attacks against the ontinuing auropean Elected Members Ore

Lyttelton gánisation, because it is obvious as a whole is prepared to re- was considerably below the Britain were able and willing at China ratantly, to paying share indexy which had touched record level of "215 brain the Plan"

cannot have people | cognise, its tremendous respon by a group of declared that wo right wingers who formed the within our ranks conspiring to siblities for the future, un-870 bales consumed th the to make further concessions one, rupee 35 cents per bound to a new peak of 1871 just before pravicus weak dipped in back to

them would not help Japan to [she]

the Ceylon Rovernment for slip back and by Thursday's close one of £13.1 30. Other foll for the previcus weekend, began to 416-28 6d before recovering to Federad Independance Party. a detent us at the next General moved by the blandishments of

So theream her purchases from the rubber. year ago with the of Election their avowed sim, he the left or by the fears of the ability of the m

of fully maintain. Its point arthr Fling area to long as Japan's Pr(also irmowized that Cavion' was down glo 1856 by Bus the lures were wed on the supernett mamiaining European control has stated. of Government" and "getting

Federal Independence European opinion

bhary police kept in Rubber Remken Board will gag, will/min points us on the end of Just before the walk awa

host July/lovelineeting a remarks Reaction, In the $16, of Calaihi Office dictator Party ales hit hard in the new the Government that

group. “We believe the

in Keny Blundell announced the United Country party te motilne spilt throw wars, and 16. formation bf his new party on more or less than a United the next all clones to

10. With him, ecomColonial Omee party, which hur what sort fuky utong

were Mr decided that there is no future, for their cof and: four other for a British Africa,it des Speci

of

Tho

་

of

*

his

the

B

the

new party

bries

(Kúil, 1832-88 Medion

right', will the Kisfalzirom dullbers m,

ziew

even

area...

more intense

for

b

the

at

decided to esse import restriks das not yet reached their

ment' presently

Radpole performance of the

rubbars were shock: