1954-08-30 — Page 9

THE CHINA MAIL, MONDAY, AUGUST 30, 1954.

Hydro-Electric Plaut At Hume Reservoir

Built originally for Irrigation purposes on the River Murtaz, Australia's biggest river, the Hume Reservoir will shortly be adding to the country's electricity reserves. Two goners- tors, each of 25,000 kilowaita caperity, are being installed at the feal of the reservoir, and its capacity in being increased from the existing 1,250,000 acre-fret (339,000,000,000 gallons) to 2,000,000 acre-feet (542,000,000,000 gallons). Output of electricity in the summer months, when the storage water is being used for its primary purpose of Irrigation, will average about 200,000,000 klowatt-hours. I will assist greatly in saving fun) in metropollian and provincial steam-electric power stallons in Victoria and New South Walcı-Aust. Official Photo.

Modern Science-Our Magic Carpet

Countless Lives Saved By New

Drugs

And Devices

By Joe Jones

Chalk up more triumphs for modern science in saving countless lives which might have been lost in emergencies in surgical and maternity wards. When life hangs by a thread, US physicians can now utilise new devices and drugs originated and developed by the United States Govern- ment and commercial firms.

of the

For example, unforeseen tainment, is adding its contribu- Modern science has converted emergencies sometimes actse

tion to the betterment of world the manufacture of mould- health. Now it is being used to inoculated cheese to a steady- when the patient 18 091 The

educate physicians in the most operating table. Such Cer-

up-to-dale methods of detecting, increasing US Industry. Cheeses Rencles can now be prevented diagnosing and treating cancer.

Roquefort, blue and Beamed over A and controlled by the use of an

closed circuit, Camembert type are now being doctors in seven US cities view made in quantities in electronle instrument that actors

weekly series of 30 one-hour

hour states, measures changes in the blood colour telecasts over giant screen

although pressure, heart beat and respira- receivers. The programmes also noisseurs prefer unn, indicating such changes on

being recorded on colour variety. Alm for distribution

local 10 a pistol for interpretation by the j

inedieal societies throughout the surgeon or anestasiologist.

Country

This instrument. culled "phy‹lulogicul

developed by

In Herbert P. Brolds, of US Bureau of Standards

Why

demonstrated in recently

and

SOL another ultra mcdo: n

the

Spectograph. Mushroom

TRADE and COMMERCE SECTION

CONVERTIBILITY OF

British Businessmen

British Car

STERLING

LONDON STOCK MARKET

Express Anxiety Of Factory For Industrial

Effect On Trade

From Our Own Correspondent

London, Aug. 28.

When sterling convertibility was at best a distant project nearly everyone was agreed on its desirability. But now that convertibility is imminent, more attention is being paid to its practical effects on British and sterling area trade. What emerges from this study is causing some anxiety in British business circles.

Convertibility in the sense it is now spoken of does not mean the end of all exchange restric- tions. What will happen is that overseas business- men will be able to exchange all pounds they earned

in their current trade with the sterling area into

dollars. Sterling area residents will be no better or worse off than they were before.

Australia

London, Aug. 29. The British Motor Cor- poration said it will spend nearly £2,000,000 in capi- tal expenditure for

fac-

tory In Australia and hopes to manufacture 1,000 engines thin the next year.

The

Гдомоту

•how

bas recently acquired a 20-tere site at Gishermen's bend, Melbourne.

Some employees from Austin Company --* are 10 form the backbone of the production, engineering. technical and advisory staffs.—United Press.

Regain

Shares

Previous Losses

(FROM OUR OWN CORRESPONDENT)

London, Aug. 28. With the opening of the new account last Wednesday the London Stock Markets got back. into stride and with the return of buyers industrial shares more than regained their previous week's losses./

The Financial Times index, which measures prices movements in leading industrial shares, reached a new

rising when the market closed for the weekend.

Half Million record level of 169.4 by Thursday's close and was still

Drop In U.S. Motor Sales

Factory

Detroli, Aug. 29.

of motor:

One of the dimculti:s tm- house-n stopping off place plicit in this system of "not- #kng the road to total abolition resident convertibility" 19 the all exchange controls, countries whose currencies rc-

The to

danger mala inconvertible may try

in believing vehictes from US plants for the bulld up reserves of sterting that once We have reached first seven months of 1954 drop- which will

then be exchange. this halfway house our journey pea by more than a half-million able into dollars by discrimina- Is Anished. It isn't.

in fact it's under the 1953 ting

against

Among the

week's big events in this market was the rise of Great Universal Stores 5 units to a new plak of 104k Gus like other stores ex- pected benefit from the relaxa- tion of restrictions in hire purchase.

04.

But the recovery was 1101

confined to any one section of the market: Motors, alrerafls, shipping, textiles and brewery figure, shares were all looking better. Auto- Radios were also firm on the

Imports from the our new state might be worsongures complied by the sterling area. Temptation tes do! than our last. And this raises nobile Manufacturera Associat-opening of the Radio Show and

will be all the greater the most serious doubt of allo indicated today. these countries have reason to is oraly necessary," said the

believe the convertibility operation will fall as it did so dusciously in 1047.

WELL KNOWN

These problems are well! known and there is reason fo hope that Bonje alternative arrangement

be mnade when the European Payments

Union ceases to function to to

provide short term erezit weaker countries and thus pre- of intra- a contraction European trade.

vent

But other

difficulties have been foreseen and these will be more difficult to resolve.

One of them is that under a system of non-resident conver- fibility for sterling American much competition will become more severe than it is

ni pre sent Now that dollars are less countries have many

scarce

mony

the

several

cused con- imported

growing

which bern

US business.

nymiter," was instrumeat. Saul R. Gilford originally developed to test soils unt 1900 has not even

the und plants is now being used attempted, has now become an-

int Rutgers University for ro-

major Hother rearch in cancer. Blood samples Formerly, France had a virtual are being studled with the Washington, IX'. Preliminary Spectograph in the belief that aonopoly on mushroom produc-

However, as a result of tests in two Washington hos deficiency or excess of some of research conducted the US

by pitals have already indicated its the chemical elements essential Department

of Agriculture. to healthy growth have a con-mushrooms are no longer con- Tremendous usefulness, and nection with the disease.

sidered a rare delicacy but have further tests are now under way

taken their place on the Ameri- in operating rooms of George

table along con

with such Washington University Hospital

"every-day" foods carrots, and in the Veterans Administra-

peas, string beans and corn, tion hospital in Richmond, Virginia,

in the

as

*x-

restrictions

示

GILTS IN FAVOUR

'

Market

Caution Advocated

London, Aug. 29. Initial market reac- tions to the Brazilian crisis may need revision when the new regime shows its hands. Sudden ΟΙ drastic

policy changes seem unlikely week's losers before a bout of as witness today's re-

The January-July period, com- Glits were back In faveur

and 4,574.946 though their recovery has been to 702,809 pare:

· Jess

that of in- strong than striate They managed 10 regain part of their previous

il year ago.

business is expreted to scrive Factory sales mialled 530,418 from it. Financial Times this week, that month and reached a i consider the prominert possibili-mulative total of 4,067,005 for

k ties of a vast

entrepot trade that: would be developed by non-

countries using sterling

their

buy convertible sterling to

Export sales through the end donr goods for sale at a profit of July this year have totalled to the sterling area markets in 243.380, or six per cent of total order

to see that the whole sale United Press. system would quickly become an elaborato absurdity. In the end non-resident convertibility could CANADIAN GRAIN only be sustained by the fiercest restrictions on imports from all There could indeed be Bources. no mare complete stultification | of the objectives for which piles in store and in transil | President Steyn and Free State

prepared to decreased to 375,100,000 bushels Geduld were among the Orange allure of Brazite govermanents undertake the risks of converti- as of August, the Statistics Frie Slate favourlies.

Branch of the Board of Grain

The feature of the all market bility."

Commissioners reported yester was the marked recovery of dny.

due to Anglo-Iraulan

which

aro

The fnet that doubts such as theso LTC being discussed is perhaps DUT best insurance against too hasty action.

1- against Ceylon Trade

ports from North Amerlen and this movement is expected to

But discrimination

O farther. against dollars imports is ali the rule rather than the excep tjun.

DRASTIC CHANGE

the A

Delegation For Tokyo

The situation will change

Col.mbo, Aug. 20, drastically. however, with

Cevion trade delegation advent of convertibility. For will attend the Congress of the then the pound will be every bit International Chamber of Com- as "hard" as the dollar. A for-moree to be held in Tokyo next cigner possessing pounds will

May. It was learned today. not have to sell them at a slight- ly disadvantageous rate to ob- Lending commerce and trade tain dollars.

At the same time, organisations here have been therefore, as dollar importa are invited to send representatives freed from restrictions in for-to the Congress which will dis- cign countries they wit outo-cuss problems of Asian develop- matically becorne

in

10 relation cheaper in ments

world economy.

A trade official here said that]

terms of sterling.

tho

world

Fungi and moulds don't sound Meanwhile, many soll very appetising, but American perts, Including Dr Firman

Additional demand for Ameri- E

ef particular interest to Caylon scientists believe they are going Bear, formerly with the New

can exports that will be released shall be the discussions on the The lives of newborn babies

role, to play a major whose ability to breathe has future, in solving the problem mental Station, are studying the o

Jersey

when sterling and some other Agricultural Experi-

European ourrencies are made questions of stability for pri been seriously hampered or even of

feeding the world's rapidly made impossible because of an growing population-now sky-

of raising food pro estimated. But

convertible can only be roughly mary products

markets.-United Press. one thing overdose of

puls

- relieving

increasing rocketing at the rate of 20,000,- medicines administered to

De certain-it will be large. the soll. the

000 per year. mother are now being savcd,

belleves the United States upper limit was recently put at thanks to a new

called Nalline.

drug

It has been successfully

monstrated In

medical wards

United

States that

will succeed where

Boar

by

of

the

The

1,000 million dollars, or about

Is capable of producing enough one twelfth of America's present Actually, the use of fungi and foot to feed one billion people total exports, by no less un moulds to produce delicicus and by increasing acreage yields, authority than the International nutritional foods is not new. farming de:per into the swamps, Monetary Fund. Some experts For example, many foods made higher into the mountains and put it even higher. from soybeans and rico were further into the desert. being manufactured with the

ald of moulds in the Orient mor

methods have failed. Trueman-Roquefort and Camembert.

tors have shown that if the

Other researchers are busy at

meals in the kitchen

new

maro *

STIFFER COMPETITION ;-

ANTI-DUMPING OF HARD BOARD

buy

US Rice Exports

profit-taking just beters the weekend brought prices back a shiling or two.

ports that the foreign exchange auctions are shares have also been a likely to continue some strong market though here too Winnipeg, Aug. 29. proft-taking developed batore months.

visible whent sup- the weekend, President Brand,

SUPPLIES

Canada's

| had embargoed shipments of

shares

The decrease Wag domestic and export shipments closed Bs Bd up on the week t of

3,000,000 15 0s Dd, after being at one 2,100,000

or two theme within a shilling bushels respectively, plus fact the Canadian wheat Board, of their all time peak of £16 5.

NEW ISSUES producers

New sues by the East African Bently and Company

both mct

with Market experts

wheat from prirle

since the start of the 1954-55 since

on Aug. 1. crop yes

Overseas exports of 3,500,000 bushels represented a decrease

of 2,500,000 bushels from

Powe

Engineering

the prompt success.

are now predicting an equally year,

the

The weakness in New Yorks coffee

is explicable by

valorisation scheme. The new Government mist keep coffee exports mov- Ing. whether or not that means unloading of physical coffer.

There may well be some shake- out of Brazilian bul! operators in

dis- New York, who may bo countenanced by the new heads of the Finance Ministry · nfid Bank of Brazli when they appointed.

LES MARKED

fre

On the other hand, the weak-

cocon

1-11 this Aug period the Board reported, and quick response to Vickers C10 ness is less market in

and is n paradox in coffee. Canadian domestle wheat were million capital raising project.

Disturbances in a supplying This will take the form of an

country also lighter. United States im-

are normally for offer of one new El share at whent ports of Canadian domestic Use or

milling: 276 d for each eight held by not bearish, for int

commodity markets. Since the amounted to 111.201 bushel, the existing shareholders, plus a

coffee market, at Icast reported.-United Ican stock issue of £0 million marginally, is dependent Board the

of 4 per cent stock at £08 109, Brazil, it would be surprising Press.

The Critics

Predicted

Disaster

For The Penguins'

London, Aug. 29.

on

it she suffered both a law export volunie and low prices,

And

Expectations of some drastic bearish change in the foreign exchange policy may be premature. The new regime will hardly revive the bank- of rupt policy of volcrisation coffee prices, but any Brazilian Government would eschew any nyoldable depression of them.

INADEQUATE

conted

A paper-backed book which has just appeared it contemplates price in the bookshops of Britain marks a milestone in the history of British publishing.

It is the thousandth title in the now famous "Penguin" series, issued on the nineteenth anniversary of the first volume-Andre Maurois' biography of Shelley entitled "Ariel"—públished by Penguin Books Ltd at sixpence.

Young

who

the

The changes of August 14 nze Inadequate. But they bave helped and the new regime can hardly do much more at present further time. than give them

Unless carefully co

controls with

of Inflated costs, price controls cart reduce or even hurt sales as in Washington, Aug. 29.

Mexico In April. Any big price Usual reliable sources cald tow

United day that the

States

drop in Brazilian coffee might attract British buyers as Treasury will apply anti-dump-

British Government's allocations de- than two thousand years ago the task of developing

of Colonial coffee are to end in This means that British ex-ing duties to Swedish hard and WIL

while from surgical

many European materials and new colours which porting industries will have to board imports on Tuesday.

October. The new regime may have come some throughout the countries

make another attempt to sell they apply It is understood the this drug

most delectable tungl-will make the preparation of face for stiffer competition from their North American rivals, But

In 19 years, the Penguin cause its author, Commander cocon to New York direct for developed

cheeses, such |enjoyablo affair.

that is not all. They will also retroactively for the past is

publishers have turned out in Edward

was dollars, instead of indirectly for | be

placed at A disadvantage months.-United Press.

expensive reprints of somo of honoured with the Distinguish credit to the German-Brazilian vis-a-vis their rivals in other

the friest modern literature of od Service Order and the Dis clearing.. mother is given an injection of What the United States. 10:

countries. For they presumably,

Crosa for the century by the greatest tinguished Service Nalling ten minutes before de

de searchers are doing is to apply

alone will still be unable to

Is authors, from George Bernard bla gallantry in submarines, If this succeeded, the New livery

the baby gasps

and modern techniques to speed up

American machinery and equip

Shaw to Ernest Hemingway. not only a publisher himself, York cocon price would cease breathes faster. When the large-scale production techni

ment. This may or may not which could

At a recent houseware

The 1,000th volume, a naval but the young man who, in the to reflect the discount on Brazil's Washington, Aug. 20. medicine has not been given as utilised by other countries so position, Dow Chemical Com trialsts cam

be

prova serious, but British indus-

entitled excused

United States rice exports in classic be

"One of Our early days of his publishing German dollar. After a re- preventive, and the newborn

• Tevo

somewhat similar cent conting

carter designed the cover June amounted to $70,000 bags Submariner's wondering. infant fails to breathe, the drug that these foods will be avail-pany announced a variety of

equivalent), as com-shillings and sixpence, (milled for the plastic

change of regime, Egypt and": has its the first Penguin book."

her cotton did pull round though. can be lifesaving by Injecting it able to all families the world colours

Thess directly into the baby.

over, including those in the houseware department.

There is clearly

cause forpared to 1,228,000 bags in Jung owl pccial story. This account

DIBASTER PREDICTED colours have the Intriguing do

1083, the Agriculture Depart of wartime in submarines writ-

not easily-Reuter, lower incamo-brackets.

now being "Almond" "Green" doubis

ten by the first officer of the Those were the angk when predleled about the practical effects of ment reported today,

publishers The decrease was accounted British Royal Naval Volunteer other convertibility. But difficulties

new Penguin aworry Blues are bound to crop up whenever far

Reserve to command" asub dienster for the

. almost entirely by Kg These share | major", changes are made. The termination of heavy rice ship-

thus entering a realm venture, arguing that, the Bri- Bot buy fish people would |\style" (and - bland question is, are there likely to monia to Korea United Press, Royal paper-back books Cinder beautiful”, with the copper, and

be compensating advantages?

romarkable picture of under Young has lived to see there water warfare and Iis heroes people confounded, and the

un-Pengut clasaco : to the

paper-backs-fiction initiatede Legal

publications un hætön): Aug.126.

LASTING VALUE Blalder: boiton Vexporia ámountait la 452,000 It was published In Landts art (480) 200 original more expensive,

Researchers In Denmark also

forward with come

have

箱

scientifle method to help bablen krep alive during the firstand most crucial period of their existence.

Two Danish doctors

*that Occurrence of

ques

also

of "Melon"; "Sherbet Pink "Citrus

*-

of

for

expressed

they reserved for regular

in Heaf, bus Timply means of US Cotton Exports which clear t

For example, the US Depart copper colours which proć businerg ment of Agriculture "han coming constantly more popular

to not an end serious haemorrhage Ari "the } searchers at Workin

Convertiblity is not on n the American kil to salve newly born can be reduced by regions laboratories, almost one-fourth by giving the the problem of mam production plan d

creating wider, opportunites for unknown und of Boy. before mothers Vitamin

Iman | world: Virade. Provided that ** in Britain, le able to Jotain hår. delivery. This vitamin, penaline mowing of soybeans in the pioneer of undern

the mecoladon of pramenta | United ? "States" (was tvirtusity, pecatying - „for the coagulation of the

t'ahare of thila strada nhó blood, will vor haemorrhages in unheard of. Today there are thousands of veterans of the must be baker onz the motor well as the babyy me comes into human foods are softsbaind om He device Bat whe

huge mope, of which 10 to 15 bitter struggle with the bresk it is ciklued.

verything from breakfast holds and open, allidereals to bredd, mulagu, and with no fussano

17 walk and no inters, canned souper

Taleviálom;" / although

ym medium of

Falained - 10OR

milliona

For the nine pllebod..

1

and for

apocial

Quicksilver

New York, Aug, 20. The price of quicksilver han moved up: 5,to à record 298 for 78-pound flask, New York.

- Trade sources reported today sales hayo" been roads at the form sary, volume,

"ae" the * beiginal orange-coloured: 'new level and that suppiles of ""marit paper – back, Commandes | the metal are tight leyniki Mayo 73% "oung's3" cover; designs, for the aurais la the first pelected first, aby penny, production hat wince: July 12%, who hok's

for Pensiin 5000th Lille be Esen UretizChina Misit, Special. Prove 10 to 200,-. Unli4d):