1954-09-21 — Page 9

HEW YORK

RUSSIAN VETOES

[2]) FRENCH VETOES

THE CHINA -MAIL," - TUESDAY, SEPTEMBER 21, 1954,

VETO

UNITED STATES MAY NOT HAVE

CAST FIRST

TO

ΤΟ

TRADE AND COMMERCE SECTION

GATT REVISION NEW YORK

American Groups Far From

Being Unanimous

By John Morka

New York, Sept. 20.

on

United States farm, industrial, business and labour groups were far from unanimous proposed revisions to the General Agreement on Tariffs and Trade ан the week-long State. Department sponsored canvass of American

opinion ncared its end.

Representative organisations speaking for major elements in the US Economy offered

recommendations

BAR RED CHINA FROM U.N. preliminary hearing seeking guidance for the

powers.

By MAX HARRELSON

United Nations Correspondent of The Associated Press The question of Com-` affirmative votes. Including the ed the belief Red China could munist China's admis-curling votes of the five big be kept cut without the yeto.

Since the UN slurted, the slon

United. to the

Under this definition, there is veto has been used 60 times Nations will come up at some doubt amook

ex- by Russia. France concurred in kegal

would one of these and cast one other the General Assembly Perts whether the veto

upply in the China representa-alune, Britain, Nationalist China which opens its ninth son question. The State De-

the United States have partment, session today.

during the Truman never used the veto. atninistration,

agreed

with that the ques and other delegates But the United States

involved nothing Brilsin are understood to have on

than considering the credentials delegate | ** lined

of the two rival

[FI

GATT revision conference at Geneva in Novem- ber.

British Tender

Refused

London, Sept. 20.

A British firm disclosed today, that it is asking. the Amezioan City of Seattle for a “writion explanation": why la tender för electria generators han boett fooled for the second time, The firm the English Kteatrio Export

and

Trad- Oompany has made two bids for a contrses to supply generators for the Rosa Dar power housO AÍ Seattle.

claims that its first Lender was the only one which complied fully with the specifications but was rojected as "too high.”

The

company's second tender was £80,000 lem than

the first but was turned down by the Seattle Board of Works without explanation-China Mall Special.

HONGKONG STOCK EXCHANGE

Recommendations offered this At the GATT meetings, tho

included proposal wock

for United States is expected to abolishing GATT with emphasis take the position that a pre- The other Soviet veloes were

on a more complete protec-requisite to any liberalisation of used mainly to block inquiries

sionpilam and, at the other trade and ultimate onvertibility extreme.

suggestions proposed by other delegations.

urging Is a reduction in existing foreign of the all parts

strengthening

inter trade barriers to US Imports. It These include almost

national organisation,

accom-i

expected to move (or of the world, some of the out-

GATT

organisation, standing cases being Spain, panded by drastic reductions in stronger

Palestine, Indonesia, existing tariff schedules and loading to more permanent Greece,

other trade barriers to promote type of organisation, one that Korea and recently Guatemala.

world trade.

would take a stronger approach Breaking the total down by Despite the divided tenor of to the use of lacriminatory regions, 20 dealt specifically the bearings, foreign trade circles impart controls and quantitive with European countries here were banking on a strong imports restrictions. European

problems, 16

and concerted effort by Presi with

Reports here speculate Asin,

dent Eisenhower in the Middle seven with

the next the US is giving serious Strength to postpone decision and, therefore, was a matter of

East and Africa and one with

few months to overcome power-sideration to proposals to the issue for a year. If this

Russia used the velo 20 times Latin America. The other eight ful opposition from protectionist the number of countries that DANKS procedure rather thun substance, on membership applications dealt with

minded legislators and groups will be permitted to ask general problems,

for INSURANCES xpected postponement by

Dalies said recently, however, alone, vetoing Italy five imps, including alemie control,

dis

within both the Republican and exemptions, and to assembly is forthcoming,

generally that the State Department now Ireland, Portugal and Ceylon armament, germ warfare

Democratic parties. and

1 hten

criteria highly unlikely the

and up fe the velo

em uz used, if, three times,

of each, and several | selection

formalities preliminary to any States will have

Inecessary, although he express- others two times.

application for walvers. general,

enough

governments

the

It United to curry out to use the veto. If

to bar Red China) from the Security Council.

its threat

necessary.

By threatening

exercise this

recently ta country's first

velo, Secretary of State Dulles

made a drastic departure from previous American polley.

ad-

cx-

Under the Truman ministration, the United States hold that the veto should be invoked only in the most captional cases which actually involved the possibility of war. The United States not only has but has never used the velo, condemned Russia repeatedly

"Toughs May Be

or

a UN secretary

Brainy-

Let Them By-pass Exams"

Little "toughs" — well-formed, heavily muscled boys grammar-school entrance examinations often become first-rate university students.

FULL SUPPORT President Elsenhower has already indicated that the enscfment of a more liberal trade policy will draw his fuji (supporį 'at • the naXİ Congress beginning

Jungary,

प

Trade circles, here Insist even

STOCK

MARKET

New York, Sept. 20. Prices on the New York Stock Exchange declined more than a point today in moderately active' dealings.

The sell-off was.attributed to profit-taking.. Obserters felt in- dustrial shares have moved up- wards sharply in the past two weeks and were overdue for

selling.

The market opened higher and active.

The demand was so heavy that the reporting tickers ran late for a period of two minutes. However, otice this week-end accumulation of orders Whe out of the way, trading turned quiet. The market reversed its trend shortly past. the noon hour with the high priced Issues showing the widest lodges,

RAILROADS DECLINE

Outside of the industrial stocks, railroad shares declined how conta. Uutis were virtually unchanged.

Transactions today totalled 2,000,000 shares.

Of the 1,193 issues traded, 593 closed lower, 268 held unchanged and 384 finished higher,

low-priced IamCA dominated dicalings. Electrio and Musical Industries finished In the No. 1 pot in the most active List with 36,400 shares. changing hands.

Oll shares · fared bellor than other

groups. Motal closed lower with Aluminium Company (From Our Correspondent) with a loss of 1% points to 678. of Amerien leading the way The New York Stock Exchange kong Stock Exchange his mom-bond volume was $3,300,000,

Business done on the long-

The American Stock Exchan ing amounted to $480,010, Noon that quotation

and the morning'a volume was 770,000 shares. con-transactions: limit RHARRA BUYERS SELLERA BALES DOW-JONES AVERAGES

US, CRITICISM The United States is also expected to criticise strong- ly any releases from con- cersions obligations 011

dollar-shorta accordion

to trade sources..

if the present tenuous Republican

of Congress should pass an Sporto the Democratic opposi-developed

Löver

HK Bank

Dow-Jones

averages closed today on Wall Street as follows:

353.40

.. 1715

Union

Underwriter 193

33, 1713

an 00715

4 0.20

Die 034 1000 47 130

ដ

30 industrials

20 redle

SHIPPING

Asla Nav DOCKS, ETC.

K. Whart Dock 2015 22.00 Provident (0) 14.3 141⁄2 Wheelock LAND, ETC.

vik Hotel

HK Lard

XD

Shal Land

has

Now that Europe is enjoying

boom and economie

a stronger dollor

tion at the mid-term Congres position, American businessmen sional elections in November, feel that concessions based - who fail

could the President

count dollar

ollar shortages are not as valid sufficient support from both as they were a few years ago.

put across

the Some of

lower

tariff trade policy as countries,

Denmark, such Randall Com-Belgium, the Netherlands, and

And the narrow-shouldered, bespectacled little "swot" is not neces for using it to thwart the will sarily the proto-type of a man who will achieve academic honour.

of the majority.

There дго the conclusions "toughs" to by-pass their early reached by three specialists who examinations if Britain is not UStudied 100 children,

They say that some means will have

be to

found for the

As late as September, 1952. Warren R. Austin, then delegate to the UN, and:

"We deplore thir Soviet policy of using its negative vote in the Security Council to frustrate action by the Security Council, The Soviet representative us. In effect, that it is he alone

who determines

tells

what is legal

and illegal under the charier and that the question of mem- bership can only be settled his terms.

on

"The United States is willing

to have the majority

of the

Red China

Doubles Retail Trade

London, Sept. 20.

Security Council deelde these Communist China's turnover

A

to lose some of its finest poten- tini undversity graduates.

The team was headed by Dr R. W. Parnell, A Nuffield Foundation psychiatrist.

He told the psychology section of the British Association: "It

that a appears

proportion of strong inda will have to be selected for the grammar school by some other means than the entrance examination.

and

more

"Certain strong active boys of more than average muscular build do low well than might be expected in scholar-

questions. It desires to have of retail trade last year was ship examinations at the age of

nearly double the Agure for eleven. 1950, according to special article in the Peking People's Daily ted by the New China

quoted news agency.

an opportunity to put its views before this council but it does not insist that its view must prevail."

State and co-operative trades

DREAMY AND DIFFICULT

"Yet wo find men ́of similar physique at the universities

It was on the basis of this argument that itho United handled 70 per cent of the obtaining almost the full number

States pressed for restrictions total wholesale turnover and 42 of first-class honours. They may on the use of the velo. This per cent of the retall sales in be described as the very back- also was the position taken by 1933, the newspaper sald. bone of the universiiles.

a great majority of the small Shops run by the state totalled

countries in the UN, whích đoj 85,000 with a total staff of "If "eleven-plus" selection con- not have the veto power,

600,000 up to the end of 1953. tinues as it is now, the implica- The People's Daily raid that tions on the strength of the at the end of the first quarter nation, both physical and mental

this

32,000 poly there were over may be imagined,"

supply and marketing

co-operatives and consumer The Nuffield team were study. co-operatives.

ing somatotyping-the relation Retail shops and mobile stalls of height, weight, fat, bone, and

of 160 million; muscle membership

to mentality and General Assembly has gone on people-eight times more than behaviour. record na opposed to use of the

in 1950-and total capital reach-

In many cases the 60-nation

veto

had

Was

on membership applica ca 10 million Chinese people's They found that seven-year- tions. The question, of which dollars (143 million sterling).pid slenderly built boys are government ahall

represent This 20 that of 1930. liable to be dreamy and difficult;

times China in the UN is technically Lost your, co-operative.

organisations

fussy, and conscientious, and apt the to appear. the

on defensive. country's total retail sales.

ented-gām girls are notably meticulous,

different from the admission handled 26.7 per cent of

to kill

new members, but the principle of using the veto majority decision is the same.

question

"Thle shows that co-operative Dr R. G. Meinney, of the trade has become an important Warmeford Hospital, Oxford,

MURDERED FOR A SHAVE

Madras, Sept. 20.

22-year-old - Indian youth has been sentenced to death for murdering two girls in return for is 10 (15%)

free shave.

The prosecution alleged

Narasim that the youth, hada,

described wavering, wandering Der- Bon"

hired by . villages to kill any mem ber of the family of his neighbour, Anjinapps, with whom he has a NEHA

WAS

roward ww to be Rs 10 id cana and a free shave

he wanted oper

Warmbadu found An- jinapps's sixteen-year-old

daughter-in-law-and. his 11-year-old daughter grass. ing goste on the banks of He throttled them both and pushed them Info the water.

Narasimhudu

tenced to death by the District Bession's Judge së Anantpur, north of Madras. —China Mall Special.

Masters

Not To

Cane Girls

J

Now regulations d

on corporal

punishment. In Somerset school, pamod by the County Education

Kunnities to

Aal

elections, the Presi- }

500 g of

1970 200

7.70

., 18.60 10.70 1000 ₫ 10.00

*sa 1.30

500 à 10,70 210 7 10.60

Humphreys 120.10 20.30 600 20.20 UTILITIES

Tron XD ".. 18.20 1840 1300 ↔ 18.20

12.60

18 utilities

63 #tocka

40 bonds

Comm. future price United Press.

World Cotton

Markets

Liverpool, Sept. 20. Omcial values for spot cot- tens, in pence per lb., included: American "middling,

15/16th Inch 3354

I

35th inch 30,84 Indian and Pakistani

roller-ginned 10.75 20.20Mexlean middling 1-32nd ..... Others, were unchanged:

Star Ferry

2700 18.30

310

on

Youmal Ferr

158

C. Light (0) 1815

Electric

C. Light (N) 12

Telephone

Cement

20.90 27.20

**** 29.40 29.10

000

* 29.30

€ 29.40

24.10

501 or 24.80

Textile Corp.

17.00

7.00

3

Oct

2000 :) 18.30 10.30

- Dec.

Mar,

May

Allied

1000 g 10.30 250 10.34

3800 414

SAO PAULO

Prices of futures closed today.

in cruzeiro per kilo as follows:-

27.40

30.10

37.98

(In the United States, they average price of 15/10 middling at 10 designated spot market

34.57. cents per

World Rubber Sales at these centres totalled

alla

outlined in

in the misalon Report submitted this Sweden, ore expected to argue INDUSTRIALS year. Fresident Elsenhower was that they cannot afford any the further reduction in duty rates. roundly criticised both in

and abroad. for having They were expected to point to STORES, ETC.

Dairy XD liberalisation settled for a one-year extension recent

In 'their Watson of the reciprocal trade agres- dollar import licensing requiro- COTTONS

ments. In Denmark and the The Randall recommendations Netherlands, for example, it included provisions for a was felt that over 90 per cent gradual reduction in the trade of dollar imports are now tree MISCELLANEOUS

from such licensing restrictions. tarifs up to 15 per cent over

On the other three-year period.

hand, it was felt the November Con- by many, that existing US

tariffs

on many of the items which could turn

be out and the

to Republican Ad-

potentially ministration, will not

good dollar-earners sensitivo

are still too high and should be 10 the pre-election

further reduced. ***** the protectionist- BLS minded groups.

More importantly, European, Accordingly Latin-American and Far Eastern minded

falt; President Elsen → it was

exporters would like to sea hower would be in B: better

US

tariff position to push his program lower, one that is not subject to prógramme, liberally through legislative channels

of desplic opposition from within the vagaries pressures from

year to year. A There were some acceptances his party's ranka.

American stablo NOT_DIVORCED

trade-tariff by Australia, Future closings: policy, with assurances as

to its No. 1 rubber per ab. Oct. 693-20 Nov 001-70 longevity would do much to

Dec. inquoted remove much of the current No. 2 rubber per lb. Oat. -14 feeling

of Indecisiveness

and No.

No. 4

€315-9724 uncertainty now prevalint in Epot rubber unbled ....

circles Undled Blanket crope

be

д

No tariff question in the United States is ever com pletely divorced from poilii- dal or regionsk and

alections

paat

Contentonni

matter of

Januszy, meid Fresident would not than be In a position of going to risk the tone of potential volon for party candidates.

A the conclusion of this week's hearings,

governmental gr

др inter

foreign

Press

irade

#

on

Markets

Singapore, Sept. 20.

The market advanced slightly

98,798 bales.), '~

NEW YORK

Prices of futures closed today

as follows:

Spot

Od

Dec

and

remained quietly steady through little trade support political out the day.

CHICAGO GRAIN PRICES

Chicago, Sept. 20. Prices per bushel in cents:

Closing

Apot

group will work out an overall programme for the US delegation to follow at the November conference in Wheat, No. 8, rea Genova. The plan will be sub-pt. mified to the President for his ENG approval and the delegation Mar BLAY will be briated by the chief July executive before departing for cora, No, i, yallow

Spok the conference,

May

The whole question of US pt International trade position and wer policy is expected to come into my sharp focus at: this meeting, and į žve at the forthouring session the International Monaiary Fund and World Bank in girls by man teachers and slington, opening September Suspiciousness, resentment, forms of punishment that may Fiscal lenders from 55 nations and guilt feeling were related injure a CHATA BWnted that thee, traded developments :

bro pected to review verid AVIATION DAY to thinners, explosivproge to The comruise

lack of babe and muscle, and ad pot cone can canine as n change-Viennent fije tendency to dramatisation pppropriate form of purinment defined to preimato and fanfagy to serugginess.“

for girls, but decided to allow de In extreme

On the specific

of component part" of business in said thin boys showed a ter Committee, ban the caning of China representation, the Tru-China, the Prople's Daly said. cepey to anxiety, and emotion. man, administration supported a Beuler. resolution which provided that the question of seating Red China was primarily one for the veto-free General Assembly and that other UN agencies fallow the Assembly's lead..

Use of the veto has, sing 1840, been one of the big con troversies in the UN; It will be

IN JAPAN

Tokyo, Sept, 20, Japan today celebrated her "Round fót girls are non- second Aviation Day

[fúsay, thà, moew musular. 4 momorlat service was hold to be incorrigiben.

one of the major losing before at Rikoksiken / (Ayjulion) Hall). nnxi

conference in 1885.

who had clupying

#thelp lives

Tokyo in mensty

prpposed Charter review

[*: propters Actually the wordovato? Wapon. does that appear 3 in the UN PALING

No. 2, yellow

and

/groater

York, Jour

Exchange

Prices -

110x1

No. 1 pale crepa

NEW YORK

Futures today closed 18 to 20

points higher with soles of 20

contracts, SN

About half of the terminal market business was represented

Mar.

May

July

Dec.

Mar....

NEW ORLEANS

Prices of futures closed today

na tollows:

Spot

May

July

United

intra-dealer switching New York Sugar

operations mainly from March

to May come ma

the

activity

dealers,

contracts. o

Market

market, developed with factory buyer

New York, Sept. 20. 318inarking time. Estimated sales World No. Iga futures of several hundred tons included closed today 2 points higher tó 1. four sheets for December 24 point lower with said of 47

for November cents; one sheet

conic No, & sigar futures. and October 24% cants & poundclosed unclringad to 2 puinen

landed bass, Spot No. 1 Ra

quoted at 243 conta Futura lower with sales of 118 contracte

World futaires held stendy aw closings:

zivo | tradere skrawalted) rervita lot *******pending busines in the raw

14.00

-100114

Jezd

all

150

May

July.

September

Dacomber

December

March

LONDON

21.88 market. The only anies reporters 2436 involved 30,000 metric tons of 14.30

purchased

Domestie.

The market over ute Balvin from Peru parkety by -200 with No. 1 Rss spot quoted at the

20-18/18 pened per lb. Prices No. 1 Ra spot UW 2011⁄2-2011⁄2°

Settlement:houto terms

2013-207

140+150 $14.000 Red Prom

Rates

Dee.

Jan/March;

April/Jtina

-Túly/Besti

little change with most nativit

hitha neart

centrodi i pround

November delivery.

2016 Contract No. 1

20Detober