1954-08-25 — Page 9

IRELAND 1949)

MOROCCO

RIO DE 0801

MYER, WEST AFRICA

CUINER

BIERRA

LEONE

RID MUNI

SRABL

DAMADO

COA MAHE

ONALILAND

KARIKAL CETLON $942

HONG KPHO

ROS 191)

VIETHAM LAMBODIA

| PHILIPPINES

GN. BURNED

INDONESIA WAY

*TIMOR

SABIND

ANGOLA W

DECHUAHALAND".

KENYA TANGANYIKA

(MADAGASCAR

SWAZILAND

ASUTOLAND

MARCH HOWARD TREL DOM

SINCE WORLD WART

HEW GUINEA THETH

CAUS

PAPUA

TAUSTRALIAI

INDEPENDENCE ACHIEVED

IN TRANSITION

COLONIAL STATUS

OTHER AREAS

AP Newslen

Colonialism Has Been Waning Steadily Since World War II

By WARREN BENNETT

(AP Newsfeatures Writer)

THE CHINA MAIL, WEDNESDAY, AUGUST 25, 1954,

focus

Demands that Portugal give up its colonies in India the spotlight on the decline of colonialism-one of the major historical trends since the end of World War II.

The three little Portuguese dependencies, all on the west total coast of India, are Coa, Damao and Diu. They have a population of 624,000, most of whom live in Goa, colonised by Portugal in 1510.

of

(dominion” in the British Com- tion leading toward creation of

has elected

15

parliament.

a Dominion of the West Indies, but many of the island peoples aro against any effort to link their separate economies.

Portugal has declare 1 it wit

by force, monwealth, held its colonies necessary, but it did get Indi

first all-African to agree to have the situation

The native Investigatrei

observer?

government by

has control of all functions except Three neutral nations.

defence and foreign affair! which are vested in a governor-

appointed by general British.

The Portugal decision

Indian

deinande

11).

followed

Frenen to turn over its last 1wo remaining Indian colonies. The French will give up the

of Pondichery porta Karikal, ending three centuries of French colonial rute.

and

The

merge

British

Nyasaland,

also

of

French withdrawal from the two ports will bring to a close negotiations between France

and India started after the end

War of World

n. At that held live bits Karikal

time

&

and

France

falla-Pondichery,

Yonnon, all

on the cast

the

TRADE

COMMERCE SECTION

| Page 9

Undervaluation JAPS ALLOCATE What Makes A Colony

Of Base Metal Shares

London, Aug, 24.

The underlying support in base metals may be the same as in British industrial shares: historic undervaluation. Markets seem to have been recognising that both sets of prices are cheap in terms of present depreciated money.

There are obvious differences | historle undervaluation mny between one metal and brother be the underlying 'strength. For example, on both the short

Prices of base metals

and the long view, copper may

zinc.

11

of

have

ot

Over

be stronger than Icad which I been repressed by a five turn may be stronger

expansion of output than sixfold But

the cheapness

since the beginning of the boo melals as a whole seems century. Over so long a period. Indisputable. Over this century and, for some metale, their average price is virtually much shorter periods of yourz, unchanged in terms

That

does also the question ni of gold, which iLacif Is self-evidently depiction of the most accessible undervalued in relation to the and dependable sources. general price level.

Base metals do not resemble In dollars, the average price oil, where almost any day is of basd metals has risen by 70 capable of bringing discovery per cent since the beginning of some new source of supply. of this century.

while the Men have been hunting for Keneral

wholesale Price

base metals since long before level has risen by 200 per cent, they lcarried to write: They nearly three times as much.

long ago found and depleted At various times in the past the sources that were nearest couple of years people have to the surface and nearest to been so bearish about copper the Industrial centres. that

one had to say that It would be a portent it its price

EXPANSION

EXCHANGE

Tokyo, Aug. 24.

In-

The Ministry of Inter- nailónal Trado and dustry today junoynorA IL will' allocate "foreign" "ex- change to Import 90 tons of cow hides. 39.000 pales of raw wool and about $600,000 worth of wrist

watches.

The hides will be im- ported from France while the

will come from Won Uruguay (10,000 bales). Belgium (18.000 bales) and

Brazil (2,000 baies).

The watches will te Imported from the dollar srca, sterling blos. West Germany and France.

The Ministry said no gold or platinum watches will be imported and no watch will be allowed that will cost more than $15.- United Press.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

A Good Investment Risk?

By Our London Correspondent

London, Aug. 24. What makes a colony a good investment risk? The current issue of "The Times Review of Industry" offers this suggestion:

"It has been noted that Annnce from private sources is chiefly attracted to those colonies which have within their borders sound mining projects (Jamales anch Northern Rhodesia) or have a compara- tively targe immigrant white population (Kenya),"

NEW YORK

STOCK

MARKET

New York, Aug. 24. The stock market per- formance was n duil one to- day despite early losseR 2 ranging to more than points in some issues and subsequent recovery which erased about half of the

Am from this the

Review draws the conclusion that "the development of the colonies dver not merely entail the provision of large sums of money; there must be worthwhile schemes to | justify heavy expenditure.”

What of the colonies without these investment attractions?

LOCAL INDUSTRIES

For them, Bays the Review, Business done on the Hong- the solution may be the gradual kong Stock Exchange this inoc-development of fecal industries. Carly declines. Trading was ing amounted to $727,209.20. This development would also largely routine much of Noon quotations and the benellt Britain and other exit in the absence of any morning's transactions:

porting nations when increasing fresh market stimulus - wealth and purchasing power provided

marketa new

and volume was the lightest for

since July 2. Also pinpointed by the view son factor affecting vestment in colonies, is growing demand for self-share days.

SHARES BUYERS SELLERS SALES BANKS

UK Bank

It

did not fall. The event, it has held

much higher than wns 4 five or sixfold expansion of expected. The immediate rea exploitation and of consump- son, as always, is that people len within a period of any got too bearish and found thom- years in almost explosive. selves underbought, But

Is capable the

of having market effcets Svep in fairly short terms.

In

copper In particular, Europe and! the is now depend #really on remote sources in Africa

and Latin America, where conditions are relatively raw.

World Cotton

Markets

Colton

th

New York, Aug. 25.

futures today

foothold after

Day-to-day news tends to be put of new discoveries but

of re-Interruptions or threatened in- terruptions of current supplies

↓

Aa

a result of difficulties with active beur, polities, fuel or geology,

to-China Mail Special.

hesitant start.

In spasinodically

edged dealings, prices

11 Katrin of around $1.20 -n bale with the far-forward poslilons

way.

One of the biggest Commun- ist propaganda blasts

guinst Rained the United States was defluded when this country

Rave inde- pendence to the Philippines, "colody" acquired during to Spanish-American War,

Only plan

the

leading the way outbreak of World War Northern

Relative strength in the Ock- delayed freedom for the islands and Southern Rhodesia Into which were occupied

Dec. 1955 deliveries was coupled by the Dominion

British Central į Japanese.

with spot house buying and af The Philippines In- investment demand, encouraged Alrica.

dependence Dayle July 1, 1946. by expectations for production controls next year And a con- The Sudan will make up Hawaii are moving

The territories of Alaska und

tinued Government loan rate. toward mini by 1950 if it wants

Domestic mills and other trade to statehood

and :2 is only

Interests bought the nearby unite with Egypt. oblina question of time before that

months, along with local cover- dominion

the rank is achieved by status

vole wilbin

of

ing by local traders who covered Congress British Commonwealth, or go it

when the market failed to meet expected hedge selling in line alene as Independent state.

with the big innings for August and larger spot market sales.

Atinnia and Memphis reports broadening mill demand, were smaller sellers March-May contracts.

an

in self-government.

Chandernagor was turned over to India in 1940 after referendum Куда the favoured

Other islanet

C+f

of

Malaya is Dnother British

transition Madras const, Mahe on the west colony In

toward const and Chandernagur

In 1952, it Beng:1,

elected its first parliament and

possessions now under discussion is a pro- United States are Puerto Rico, posal to merge Malayn and its well satisfied with its relation- Including ship and does not want to be a Island colonies, people Sarawak and North Borneo, into cut adrift. The

Islands have local rule with India a Dominion of South-east Asia.

to veto by the Governor, appoint- Only last month, France trans-

ed by the President, American ferred Mahe and Yampon to

Samoa is administered by Indian rule, India, Itself, woni independence

of the Interior. as Department is Guam which also has a local 1960.

legislature, Inhabitants of all except Sainua,

merge:

re-

Relatively few colonies

and from Britain in main in the New World

! most of them have modflied self-government. British Hon-

US territories,

Asia and Afrien are the last durus has a parliament, as did British Guiano, where a pro- great areas of colonial people. The accompanying

Red regime wok ousted by the joy citizenship. map shows

Governor-General British those Innds which have freedom since the end of World Year ago.

won

War II, with the dates of their independence.

The defeat of the French by bean, the Communist Vietminh lo Indo-China has been attributed by some Western experts to the refusal, until too late, to grant self-government to the

11390-

ciated states of Vielzam, Laos arid Cambodia,

Loos was granted indepen→ dence on October 22, 1953. Cambodia

It was promised freddom this year and Vietnam wha to be given internal the French savereignty within Union. But the French defeat An Indo-China and evacuation

Vietnam Reds leave many of these questions academic,

of northern

to the

Premier Mendes-France, after negotiating a cease-fire in Indo-

China, promised reforms lead- ing toward internal sovereignty for Tunisia, This led immedi

in Marocco,

another French

*

World Rubber

Markets

Singapore, Aug. 24. After

lower the opening market again steadied on some grade covering and little factory reserved. buying with sellera Furture closings were: No. 1 rubber per lb. Sept.

Oct. 001-001 Nov. quoted No. 2 rubber por lb. Sept. 86-66

031-005 No. 3

04-0444

cat-004%

04-0115

B015-015

NEW YORK MARKET

New York, Aug. 24. Rubber futures today closed 02 to 50 points lower with salca ốt độ cantracts.

Trading was hardly, broad enough on the terminal market to

special feature,

spot market, however.

3

tors said.

East As INSURANCES

Union

SHIPPING

Waterboat

Asla Nay

11710

17:0 100

105

13

1000 20.30

Doc

70

**

ឌ

DOCKE ETC" K. Wharf Lock

21, at 70 Provident (0) 13.86 13.00

Shai Dock Wheelock

LAND, ETC.

1K 17010

HK Land

1.63

2400 70

capital equipment.

governinent."

Re-

Turnover o

2,000,000 shares in-compared with 2,020,000 poster- "the day and

this

with recent 3,000,000-

OL of 1,180 issues traderi

Steels stood

out among

the

It conuments: "The attitude of here there were 643 lower, only some colonial politicians in the 382 higher, past has not been such as to encourago the condenco

of solter issues with final declines Until 100 e 13.00 Private Investors.

than 1 point, 3000 1100 position is remedied the

ranging to more full

Bethlehem and US Steel ench 1500 1300 sente development of colonial were off point, Youngstown

to be held Sheet and Tube 14-

There

10 7.00 7100 →

7.83 resources is likely

in check."

....11.30 11,40 7300 # 11.30

50 60 400 #1 GA 1.40 1.50

'bal Land..

Humphreys 0.10 Пcally

UTILITIES

Trom

Star Ferry

2.140 2.170 1000 210

133

10.20

Yäumati Ferry 158 169

C. Light (0) 18.80 15.03

C Light (N) 12.00 Electtle

Telephone

INDUSTRIALS

Cement

.... 20.20 20 40

Rope

STORES, ETC.

Dairy Wation

1700

...... 25.40 2511⁄2

13/0

L. Crowfurú 23.30 COTTONS

Textile Corp 7 MISCELLANEOUS

Yangtze Allied

4.123 4.193

New Record American Income

maa,

Washington, Aug. 24.

The average income for each woman and child in the United States road four. per cent 1700 25.50 Inst year to a new" record of

7170 $1,709, the

Commerce Departe ment reported today.

52507

was much the same situation in the aircrafts where Republic fell 19%. Unitest 74 Bell Aircraft gained a polat and General Dynamics .

Chrysler met demand in the automotives, gaining 3⁄4 to 500%. Montgomery Ward was activą. leader for the second day In

row.

The

Slock Ex- volume

New York chango bond

$3,010,000.

wan

The American Stock Ex- change volume was 650,000

shares.

DOW JONES AVERAGES

New York, Aug, 24. Dow-Jonca closing averages, on Wall Street today were as follows;

30 industrinia

340.32

110.08

01.11

129.70

101.25

175,02

-United Preda,

Total personal income in the | 20 rais

19 utilities drat six months of this year was something less than two per cent under ipials for the correspond» | Comm. future price index

New York Sugaring period of 1953,

Market

New York, Aug. 24.

In-

1963 Today's report on come did not take into account the deduction of federal, state

World No 4 sugar futures to-ard local taxes. Earlier Gov- day closed a points higher with ernment reports said the aver

nge sales of 138 contracts,

personal Income nifter futures federal income taxes' rose from Domestic No 6 ruger

In 1952

Jost to $1,553 closed unchanged with sales of $1.407 34 contracts.

Trade

buying anal

short

year.

65 klocka 40 bonds

Less Rubber

Used In U.S.

had a stendier tone in line with covering imparted a firmer tone

Largest wage and salary ins creases Jast year were in the higher offerings from the to the world contract, primary

factory markets, but

Traders understood the Cuban manufacturing Industries, parti

cularly metals, electrical 700- Euying Interest remained on Sugar Institute turned down A

chinery, transportation equip- tho

bid of 3.18 cents quiet side.

pound feb, as

ment. chemicals and instru- on 34.03

Spot No. 1 Res were quoted the price to be fixed on the pur- ments. Agricultural income de- 31.70-71 nt 23 cents nominal. Future chasty of 2000 for balance left clined in 37 states and rose in

**3.00b

20.45

29AAD

23.49b 23.035

23.00

This is the

unpriced on the total of 230,000 11.-United Press. tons wanted by France.

Dealer thought the Institute

of the

a

were:

Monta Ocl Dec

Trading volumes and open in- the Exchange today terests in

Valuma

150I

No. Spot rubber unboled Blanket erape No. 1 pate crepe

Opan interest

201.306

20.000

570.100

Mar

10,400

160,400

May

the

July

17,000

17,430

Orl

1,400

58.300

Dec

Total

700 $5,000

NEW YORK PRICES

27,000

1,200,040 baler

A

France

Britain And

have

The Panama Canal Zone actually a milltary reservation, The Governor of the Canol Zone government is a US Army

13

New York, Aug. 24. Prices of cotton futures closed loany as follows:

Sput

35.15n

Uct.

Dec

34.10-15 34.40

Mar

island colonies in the Carib-general who also directs the The British have Panama Canal Co. which discussed plans for a federa, 'operates the vital waterway,

Any

Jul

3401-93

Ori

34.45

closings:

Sept.

Dec.

34.450

Dcc.

Mar.

NEW ORLEANS PRICES

May

New Orleans, Aug. 24.

July

Prices of cotton futures closed today as follows:

Sept.

Spot

34.00

Det.

23.09

Dec.

34.40

Mar.

34.00

May

34.90

July

34.91b

Oct.

Dec.

Bettlement hope term: 34.30 14.sob

Oct./Dey.

Jan./Mar.

Liverpool, Aug. 24.

Apr./June

American July/Sept.

Oct/Nov.

31.76

Oct. Nov.

Sept.

Contract

Dec./Jan,

31.34

Estate crepe, Bept. thick 25

21.19

thin

May/June

31.90

July/Aug.

01.04

Official prices for spot ections

AMSTERDAM MARKET

Ainslerdam, Aug. 24.

Nov. Mar, MAY

July

Sept.

per kilogram, CIF, Sept. as

ex-duty,

101 buyers

in buyers 1.91 buyerm{

222 buyers

United Prein,

Sensitive Heart

'Kicks' Registered

Chicago, Aug. 24,

The pointer of a well-balanced bathroom scale will flutter with a person's heart beat, and this phenomenon may provide important information about heart conditions, a doctor reported today.

Dr Isaac Starr, of the University of Pennsyl- ately to rioting and violence vania's Department of Therapeutic Research, re- North African colony, where ported on a 20-year study of the phenomenon in Arab nationalists have long an article in the Journal of the American Medical sought to throw off the French yoke.

The French cabinet will discuso later this month the problem of increasing self-

government in Tunisia, Morocco

arid "Algeria."

Many of the subject peopics

in" "Alan" and "African

are on the way to

J: Tho' Gold Coast,

beoorde

Association.

"When one fires a gun, the recoll kirke him in the shoulder, | is

Starr and his own machino

so sentilive that It Is In

and the bigger the powdeBuenced by the passing of

ង.

LIVERPOOL PRICES

Closing prices,

would not sell any more sugar

below 3.25 cents a pound and that France may have to cover

is balance in the open market. Domestie futures held stendy # routine trade. Future

Contract. No. 4 (world)

Op

LONDON MARKET

London, Aug. 24. The rubber market was barely steady with No. 1 Rss spot down 1/10 to 20 pence per lb. Prices: No. 1 Rss pat

18-2012 closings: $83-107

R2221 Sept.

-101 Oct. 1915-191 Mar. 1946-191

**}* | May 19-9/15-10-11/10 July 12-9/18-18-11/18pot-iconic tract No. 6 10-D/10-10-11710

middling cotion 15/30 inch, in General markets, cif bulk, ports: pence per lb., were na follows:

Mar/Apr.

wero all unchanged.

Jan,

The rubber market was quiet, Nov.

CHICAGO GRAIN PRICES

Chicago, Aug. 24. Prices per bushel la centa

Closing Prices Wheat, No. 2, rep Spot

212 2014 278-2171 21822-4%

ם nנן

313-12

3.10 2.18n

Fept. 214141) 210(1)

Dec.

Mar. 3.21

3.30

May

320b Spai

2.18h Corn, No. 2, yellow

16414

Cuba) 3.20

Sept.

Tec.

Mer

5,50 MAY

15315-

15011

0,47 пу

0.47

Répi.

A

$.00

Sept.

Dec.

Unlied Prew,

0.50 Hoybeans, No. 2, yellow

Spo!

Repl.

Nov,

MARKET

Mar

20011⁄2-2007

2711 27414-2731k

May

· Radley

Spot

130-140

Untied Pros,

Prices today closed in guilders | Spot-teenis per lb. eit NY

SAO PAULO PRICES

Bao Phu, Aur, 24, The cotton exchange closed follows

today.

tho

No. 1 rubber No. 2 rubber In the Unlied States. | No. 3 rubber

price of no average

16/16 No. 1 crepo middling cotton at 10 designated spot markets was not available today. Soles at these centres totalled

bales-United

Presa.

23,200

charge, the grender the kick and streets low his off NEW YORK WOOL

the renter the impact of the storeys below hip difice, bullet," Starr sald.

:

ear

disorders

TOPS MARKET

LONDON WOOL TOPS MARKET

London, Aug. 24.

again barely steady; turnover [was better at 40 Total:

Coin prices in ponce per

Wool tops fallires today closed

Ho sold the instrument Roughly, he said, the heart give on "objective" › dérhönstra-

New York, Aug, 24, 2 [15,"work works the same way, and my of such vague

kicks it pumpe blood as cardiac fatigue, diminished 3. Wool tops market closed today cardiac resorts, woaknade of | 9:points lower. Prices in cents through the circulatory system. is what makes the needle of the tort muscles and heart Dr, were as follow

Experimentally, 20 kaldh

A heartstesting Instrument can toất Ichown as a ballistooradiograph" imikations-of-

sebaduled |Ums this printipla' to study "the

heart'a “klok,"

100,00

LONDON TIN

**London," Aug. 24.

The tin market was 'steady. | New York Hour Spot fell and thro-month | 200 lbs, sack Vi sterling to the corimon prico

of 27814.

During July

Singapore, Aug. 24.

Cabled advices rekening here the Monday showed that United States used less rubber both natural and synthetic--- during July.

Although

the

figures weTG treated with reserve by local rubber circles some attributed to the two major strikes by American rubber workers and the higher price of the natural commodity last month.

The unofficial embled figures show 78,600 tons of new rubber was consumed of which 41,000 was synthetic and 37.500 natural. It was not stated whether the figures included inte rubber.

The

the

price of rubber in Singapore market at the outsat yesterday was a little setback on but the receipt of, the cables Inter firmed and closed at 874 cents a pound-United Press.

Call For Action Against Omi

Silk Company

Tokyo, Aug. 24,

the Representatives Federation of All Japan Textile Workers Unions today called - cir the President of the Japari

Colton Mill Association, and

Closing prices in sterling porNEW YORK COFFEE asked him to expel the Omt sik pet by

long for were:

3-man. Buyers

United Freak,"

FUTURES

Company

from the Association and to reduce. Omi's allocation of ray cotton.

Now York, Aug. 24.

Omi workers have beon en Santos "g", coffee futures sirike, for two, montis ngalent closed today uniformly 200

Exchange Rates points lower with anled of 810

1-bastrioni “wiky, done in the toil contracts.

markos this

indonesiao-espinh, (per 100)

Lazos China Dissues (per 100)

zuture" ploainga were:

Mar

e

condilioris ; at the

Workers pliced; The Company

forbada werkers from - marrying, forepd. them to attend Buddhist religione services, opened workers privalo letters and maintained "lavory ** conditions In dormitories Ictories, China Mali Badan