1954-09-06 — Page 9

THE CHINA MAIL, MONDAY, SEPTEMBER 0, 1954.

National Radio Show in London

Pago

A lleutenant gives instructions to a group of WRNS on the working of a model by HMS Triumph, with angle decks, one of the attractions on the Royal Navy Stand to be seen at the National Radio Show being held in London-Express

Photo

FREE TRIP TO DARWIN

INSIDE

ENGINE

AN NACÉLLE

By A Spécial Correspondent

Darwin, Sept. 5.

A smiling, 19-year-old coloured alien boy, who has no right to live permanently in Australia, now has an official Australian mother and father.

ostות

CMIERCE SECTION

BOOM IN BRITAIN

This Has Substance: Not Like Previous Spending Sprees

From

Our Own Correspondent

London, Sept

Seldom have, so many economic indicators pointed in the right direction all at once, Britain, in fact, is in the middle of a boom.

But it is a boom with a difference. There is none of the hectic scrambling for goods that has characterised previous postwar spending sprees. This time we have substance, not merely the shadow of prosperity.

Confidence is unimpaired by the news that gold and dollar reserves fell in August, for the second month in succession. For the decline in reserves over the past two months is more than accounted for by the reduction of long standing debts.

AMERICAN ENKA DIVIDEND

New York, Sept. 5.! Directors of * American ENKA Corporation today doolared regular quarter. ly dividend of 10 cents a sharo on lis common stock..

The dividend will be payable on September 27, 1954.5144

American ENKAA subsidiary of Algemene Kunstsidje ́Unið, N. V,' (A.. U.), Arnhem, the “Netherlands, textile cóni- pany-United Press.

HONGKONG STOCK EXCHANGE

LONDON STOCK MARKET-

Industrials Reach

New Peak

From Our Own Correspondent

London, Sept: 4/

After reaching a new all-time peak of 171.9 on Monday the Financial Times index of industrial share prices suffered a set back and by Thursday's close receded slightly to 171.4.

The immediato cause of the word allll, moying steadily up- check was the news of France's ward when the market closed. rejection of the European De- After a dull last gilt edged fence Cominunity plan.. But staged a rally and several issues the hot pace of the previous showed small gains on the week. advance which, tempted some the oll markes Anglo- investors to cash their profits Iranians turned heavy on ne- was also held partly responsible.ceiving now's from

The brightest feature of the concerning woek was the continuod demand Company..

compensation

America

for stores shares, many of which member of the international have attained new peaks. Consortium "Gussles." name by which the oil. At

shares

arrangements for Payments: to the The other handing Persian one time the market knows the shares of Great Universal

10, but a rocOVITY were down Stores were set in before the weekend and ngin prominent, gaining the long further 10s 10% to 1158 42d on reduced to in 3d.

the week was (From Our Correspondent) encouraging developments noted Teas remained strong on higher Business done on the Heng- In the Chairman's annual state- auction prices and rubbers were heng Stock Exchange

this ment,

Among other shares steady. morning amtunted to $485,103. this section Debenhams advanced Noon quotations, and the morn-6s 3d to 18 74d, Waring and ing's transactions:

Gillows Os to 60s, and Maples 78 14 to 459 74d.

Taking the two months to- The recent recession In gether the reserves fell by 99 America is estimated to have million dollars. But in that caused 20

per cent drop in time Britain repaid £0 million sterling area exports to North dollars, to her creditors in UeAmerica. Exports from other European Payments Union and West European

countries also repurchased 112 million dollars suffered though to a ser ex-BHARES BUYERA SELLERS SALES worth of sterling from the inter-tent. Yet despite the fall in its BANKS national Monetary Fund-a total Imports America is still paying

redeemed.

bow

SMALL DEFICITS

Bul

the

substantial fall

HK Bank

1710

20 1775

Union Lombard Underwriters

In

RADIOS DEMANDED

Shares In other Industries. which supply consumer goods were also in demand. Radion, for example,

on the were strong news of increasing sales and 8.10 breweries went ahead following:

the news that Watneys ivere raising their dividend from 17 to 20 per cent.

903

B

30 81 500

14

Dock

231 Provident (0) 13.80 14.20 300 Wheelock

100 1000 7.B

The 1400 1.83 2000 mt 79%

LAND, ETC. IIK Hotel

lic Land

now Vickers shares opened at 13s 6d premium, but later slipped back to 135 premium. The old shares elesed 11 3s lower on the week at 38s 6d.

11.40 11.40 2000

200 00

201 ... 2.10 1.20

Humphreys Irally The disturbing element in the plcture," says the Bulletin,

UTILITIES "is that these military expendi- tures (excluding military ald Tram

American "ald shipments) plus

Star Ferry Yaumati Ferry 154 150

Under, the lead of such

On

NEW YORK

STOCK

MARKET

REVIEW

New York, Sept. 5. Stocks broke sharply in the last two days of August, then rallied sharply and 1000 26.40 favourites as Free State Geduld made up nearly all of tho

and President Brand, gold shares week's losses, rose strongly to establish a new peak for the 2000 15.00 gold developing index on Wednes- The selling brought out rather day. There was a slight setback heavy volume while the rise on Thursday but prices, began that followed was a dull ore.

Eriday and

19 100 10

-137

C. Light (0) 13.76.12.00-3500 ₪ 15.90

1500 15.30 to rise again

.

500 10.00

1500 18.00

4000 41 12.80 33 200 s 23

500 OF 3225 27.00 500 21.10

C, Light (N) 12.70 17.80 2000 19.00 Electric XD. 33% Telephone INDUSTRIALS

of 211 million dollars of debt out gold to the rest of the world

at the rate of some 2,000 million | INSURANCES dollars a year, and the London and Cambridge Economic Bulletin points out that this is The reappearance in August te of small deficits with both tire essentially due to two facts. DOCKS, ETC. European Payments Union and First, the US was paying out at the dollar ares was wholly due somewhat high rate in 1953 to seasonal factors. For this so that a very the period when British tourist in her expenditure on her im expenditure in Western Europe ports would have been needed merely to produce a balance. And and British

imports of cotton, Mr and Mrs Norman Ballard, of Darwin, have been granted per-wheat and tobacco from the secondly ber military expendi-

dollar area are

hi ture abroad has riser. at an annual mission by the Northern Territory Supreme Court to adopt an Indonesian

peak.

underlying DISTURBING ELÉMENT waif named Bas Wie, who has lived with them for the past three years, strength of reserves is only one

But Bas is still at the mercy of the Immigration Department. He can be

reason for the wave of confidence that ordered to leave the country at any time.

is sweeping the country. Tho others arc equally If all things had been equal, † the medly revolving wheel.

of half-caste and impressive. Hea number Boa's mangled body should have slipped, and his shoulder wan Malay lads around Darwin, but

Employment: More people are been found in the

of all kinds, are running at scrub near | laid bare. He will

for they could all be accounted for. carry

in jobs than ever before, A some 4,000-million dollars a Darwin airport

Bas spent three months-other. 50.000 joined the civilian year, Such day one

int the resulting scars. August, 1040. Discovery of his

receipts

"provide Dakota Blew at 10,000 Darwin hospital while his The

fate labour force In July, bringing remains should still be one of

basis for future for the whole of the 3 feet

was being argued by Immigra-

a precarious the total to 22 million. And plans." the

bafillon mysteries hours strip to Dorwin, Bas was tion officials. At Grst, it WIB. fewer' are unemployed than at which international police

So long as the outflow of gold being burnt by the exhausts but announced that he would, ever

almost any (ime since the

dollars from and tried to solve.

Koepang but finally the outside cold was intense and returned,

,the United July barely war-in

one per States continues Europe and the For Bas Was a

he was allowed to stay on yearly walf whose exposure finally caused him to

cent of The total labour rest of the world should be able parents had died while he was losa canseloumess.

certificates of exemption his

force. Of 239,000 registered as to maintain their still a baby.

present basis of residence.

unemployed 8,300 were only which is doing so much to

main. temporarily out of work.

The tain the

the value of exports from others had 383,000 vacancies to primary producing countries and choose from.

turn their demand manufactured goods.

"But the foundation of the Production: This is running at structure is not very secure,'

warns, and the about seven per cent.abave last the Bulletin year's devel,

Bigger supplies gradual concerted lifting of re- of raw materials coinciding with strictions on trade and payments Driver,

the then mother of

a revival of demand for their seems to be the proper method products

of tho He was given his own

had helped many in- of taking advantage plenty of food, pocket

dustries to step up their out-present opportunities rather than

The put, wns and a bicycle. He attended the

rise is especially the dramalle Introduction Sacred Heart Convent School, marked in the engineering and convertibility.", learned to read and write, to vehicle industries.

and and cricket, play football

Wages and prices: The cost of became a devout altar boy in *

after living Indox

remaining the SI Mary's Stor

olmost Catholic Church.

unchanged between the Why the unconscious boy did Now he has H well paid job middle of last year and the and rese three points in not fall out, is a question which as Royal Australian Air Force of June

But this was a relatively storeman, has bought a motor will never be answered. It can

pay for

end of the was cycle, has won himself a mother small price to only be assumed that he

food ration

Wages the rattoning..

on the entwined in the struts, When and father, and there is talk

other hand continued to risc the captain

later, a girl.. He has his own room

early summer when in the Ballard's modest Darwin until the

Не

had had

come unscathed through three years of Japanese occupation of the Netherlands East indies and finally, toward the end of the war, found him- self in Dutch Timor He does not know how long he had been there. where he was born.

or

He remembered ibut 12 months cariler he had known hir Arst kindness and his first friendships when Australian soldiers came down from their hiding places in the Timorese

he saw a Dutch Dakota

1 on the tarmac at Koe-

was

pang. He knew that the aero- plane

going to Australla and he knew that the captein and crew were having a meal before take-off,

The door of the acroplane was locked and Bas could not enter. He had intended hiding ba rear compartment or

under

а

Dar-

"undio" that

Lieutenant Sjouw took his landing Instructions from win's lower and then his wheels. He told me the mechanism worked normally and except for the subsequent discovery, he would never have known that anyone had taken a free ride across the Timor-Sen.

The wheels dropped into posi- tion three or four feet

below the bottom of the nacelle. The Administrator. cavity into which Bas Wie had crawled on Koepang airport re appeared while the plane still 1,500 ft in the air.

found him

Bas went Lo Government House, Darwin, the day he was discharged from hospital, and was cared for by Mrs M. A

of

room, money,

Sca

INDUSTRIAL OUTPUT

but love

since

shown little

chair until the aircraft look ont he was "Just hanging there. He walked over to one of the

A Darwin detective said that home. On the walls, are framed they were some five per cent wheels, looked up and saw the

which Bas had fallen and a body pictures of the Blessed Virgin.higher than their mid-1953 level,

the mystery nacelle the cavity into

Bas As far as La concerned, the wheels retract in flight. It had been found,

his change. did not occur to him that when would never have been solved, only one goal remains in the plane was airborne, the It was not known that he had remarkable fight for emancipa. icft Koepang. He was not ex- tion-he has to have his signa- cavity would not be there that

pected-in Darwin. He carried ture accepted on naturalisation it would be almost completely no Idenuncation. He resembled papers--China Mall Special. occupied by the wheel.

He grasped a strut in each hand, hauled himself up, and

Wenant Jen Sjouw, of the

on a

Dutch Air Force, was regular edurfer Olight from Djakarta to Brisbane. He went with le crow, started the chgines, and tang

taxied out.

among Bas Wie, crouching the struts at the top of tho npeelle, felt the blast of fanned by the propelier a few În front of him. He did foot not know that at 20,000. It and

an hour at 180 miles

blast this

of alr

Warsaw Revolt

Leader Learns Civil Defence

London, Sept. 5. Ten years ago General T. Bor-Komorowski would Batley, cold. Nor did he led the Warsaw uprising against the German know that the exhaust pipes occupation. Now he lives in a quiet avenue in

the engine, onlyinches from his back, would be red Wembley, and he spends his evenings training with

the town's civil defence organisation. Lieutenant Slouwppened the throttles and the plane throbbed

12 de moment of fils sdin• ¿

so in

Cement

for

Rope STORES, ETC.

Dairy Watson COTTONS

Textile Corp... 7 1.20

.... 27.00 27.90 500 1 20

500 27.00 2500 27.70 17.30

25 25:50-1800 m 29.10 17.80

800 - 19

.4.0716

2000 4.10

SINGAPORE

RUBBER

REVIEW

Singapore, Sept. 5. Strike settlement in rubber factories in the United States

STILL RISING

strengthened the Singapore, rub ber market alightly at the be Retail sales: These are well ginning of the week but lack of up on last year's level and are a sizeable volume of genuine still

rising. Government's trade and factory demand recent decision

to end all caused it to slump again. hire-purchase

controls

transactions

on

gave new impetus

do this sales boom.

The But: there lagued

MISCELLANEOUS

Yangtze

Allied

US RAW COTTON EXPORTS

New Yock, Sept. 6. Raw cotton exports

Financial Times

ол

U.S. COTTON

MARKET REVIEW

New York, Sept. 5.

It was a week of contrasts..

During the month of August the market had a sharp setback --12.12 points in the industriais - and 7.11 points in the rails. The utlittles gained a cent. It was the first monthly decline of the year and it was accompanied by active trading.

.

The selling which mat technical recovery-movement from. Wedneshy on was: at- tributed mainly to an overbought condition,

EDC EFFECT

Lower....: private crop, esas

timate gave cotton futuresThe end of the European Do- another big lift this week.fence Community was seen as a contributing factor but not a real In the fourth consecutive rise, reason for the decline. the list at Friday's close was un

There had been selling of

0 to 33 points-30 cents to $1.05 Government bills by the Fedorni,

than the Reserve, a move that tends to

bale-higher

A

preceding, week.

roże to by All deliveries

destination as reported in bales

shrink credit." This was given

now as one of the reasons for the seasonal highs as traders started decline just as a reversal of by the New York Cotton Ex-to discount a serious setback to this procedure helped a recovery: change for the 1964-55 season to crop prospects because of heat lake this week. August 31 were as follows: and drought during the month

17.506 or August,

Britabı *

Continent

Orient

Canadá

Total for sensori*,

Total' last year*

• Excluding inters.

17.417

05,216

14213 133,350

MILL DEMAND

Aircrafts an into henve {profit-taking;

Steels made good recoveries

Contributing factors on the up-from their lows and finished the. epide included a broadening milt week with fractional losses: Oils demand for spot colton, which in met support that left some of

them higher on the week. turn pointed up optimism ́exist) ing in the textile trade that the. cloth market is on the verge of a new broadscale buying move {ment,:,

The Bank Of England Statement

"。,」

London, Sept. 5... The Bank of England state- ment for the week ended weekly market report Sept. 1-reads as follows:-- by the leading rubber

and

is no evidence that the British brokering firm of Holiday. Note in circulation publie are spending beyond Cutler, Bath and Company Pubile deport their means. One of the most Limited said today, New York Privats: deposits

Government securities disappointing significant differences between advices were again

Other serutrition this and provious postwar shop and it was reported that both neceipts

Thallond

Indonesia were Ralo ping sprees is the fact cheaper sellors in the market. it has coincided

with rising Japan took some nearby lower personal savings. People are sheets at the beginning of the shopping with greater discretion. unhurried by the old spectre of soaring prices.

FURTHER PROOF

If further proof is needed of.

supplied by the improvement, in

the absence of inflation it is Britain's external position.

sterling

Main attention,, however, centred on. the Government érop report, scheduled for publication on Wednesday...

The average of five surveys 1,649,503.000

18.07.209 issued during the week indicated *134,638, 121, a yield of 12,000,000 bales, · The 310,631,629 lowest estimate was for 11,695,-

14.02577 27,737,410 100 bales and the highest for 12,200,000 bales. This would compare with the official August Agure for 12,080,000 bales and last year's crop, or 10,465,000. bole

United Press.

Statement

OTHER ESTIMATES_____

Coppers, were supported when the mine strike ended.

&

Market analysts said the list behaved very weil although number of them look for somS further reaction before the ring

resumed.-Unlied Press.

Ceylonese Trade Delegation

Colombo, Sept. 5

The averagogues of 80A Ceylonero trade delegation members of the New York Côté led by ·Commkrče. Minister on Exchange was 12.197.000 Shirley Coren left for Japan by bales. Average of 10 members air en route to Peking last of the New Orleans Cotton, Ex-weekend to discuss the terms of change way for, 12,199,521 fiales,, next year's, trado:agreement, bes 101 361,301,420 The highest estimate on the tween Communist Cliina :" and

3.46587901 southern exchange wax 12,050,000 Ceylon-m 40.849.789.803 bales and the lowest, 11,400,000

week but the United Kingdom The Bank Of France. and Europe showed little enthusiasm until the middle of the, week, when the lower prices here again roused some interest.

Paris, Sept, 5. The Bank of France statement NY. SURPRISE

for the week ended Au 20 Somewhat surprisingly, the reads as follows: report said, New York showed Up to the end of July British Interest for lower sheets and Total gold holding

other currency exports were some. & 100 million higher and imports £20 million" (The report obitzyes it is quite lower than in the same period remarkable, that the temporary Advance C

stabilisation at year. As a result, the trade falling of in consumption in the Total bills Succunted OR £120 million les Chan in more serious setback in prices Current accountC sop for the first seven months United States did not cause a Bank note in ".. the, corresponding monkin of 1955;

in Singapore. It attributes, this over 80, it is estimated", from this

a the consistently Increksing is War- the United Kingdom'a

ef: trade paymenter!

man who commanded an house are aware that the quietly forward on its take off runs ommy of 35,000 in the disastrous spoken customers on

Jurched and quickly gained

the revolt has been learning the Foland's, war herdes. his first double tactics of atom warfare defence & Bas had MAL

After the Warsow uprising in the general, now complurgin, the planta climbed, 1944, in which more than 200,- told me how his at sharply, and the captain; selected proPoles were killed, the saw fought an der

eneral was taken prischer by pecting is Red Army tho moon The Gormans.

The

thom But "the Ru him in 1945.

|vancoji Willa i slopped i

milde"dwhy, and the IEŃ DONT INÓW: LUTE LO"n her the Gu

up opht

Americans

remifts just below, the local price: 31 Dance Co

the rest of the

Wenarn

etreutation

Sales,

Mr Corso · said the delegat A with discuss in Peking the Statisticians calcislated that ton of Ceylon's ineroos out of the estimated August 1 disction of rice and carry-over of 10,578,000; bales, sequent need to only 2,647,000, bates would be in imports,

the "fred?: stock. Thus (wIN THE› BIH Jaban, the new crop expected to be arguna

19,000,000 balot, the fótsk zirve supply would be 13,600,000 t