1954-09-27 — Page 9

THE CHINA MAIL, MONDAY, SEPTEMBER 27, 1954.

New wharves like the one pletured aro features of the newly-opened extensions to the Gold Coast's Takoradi Harbour, Woll served with warehouses and rail facilites they will There permit more and bigger ships to berth alongside and cut down costly. waiting time. extensions and the new port of Temna have come fato being largely duß to promises of future prosperity impllelt in the £10% ambition Volta River aluminium project. Express Photo,

'Mossadeq's Evil Genius'

Will Shortly

Trial For

Face

Treason

years,

was

Teheran, Sept. 26.

who

Dr Moham- who, according to his will face trial in

Hosain Fatemi, aged 37 mod Mossadeq's Foreign Minister and enemies, is "the most hated man in Iran,' Teheran shortly for treason.

No date has been yet set for the trial, but it is expected

to open during September.

power in Mosaaden's

of

was опе

な

the

Budden

of

the

of

TRADE

COMMERCE SECTION

JAP COTTON EXPORTS

Lifting Of African Embargo Serious

Blow To Lancashire

From Our Own Correspondent

London, Sept. 25.

News that the embargo on Japanese cotton textiles in three British East African territories is to be lifted is the second blow that Lancashire has received within a week.

Only a few days before they learned that important East African markets are to be thrown open to their bitterest rivals British cotton leaders were told their exports were being squeezed out of several other Commonwealth countries by cheaper Japanese goods.

Further shocks may await the square yards in the first quar- industry. For the Anglo-ter of this year to 10.72 millon Japanese payments agreement, in the second quarter. Over the which opered the door to great same period British exports to! er Japanese

exports in the these markets declined from sterling area, is now under re- 20.35 million square yards to view. The Japane

satisfied that Britain has

not 23.57 million. done.

to lower barriers The British Industry fears the, that what has already happen- ded in West Africa may happen

In other

markets,

starting

all she can against their

exports to Commonwealth

And

are manding further concessions.

mare

colonial

Agricultural Credit Bank

on

Istanbul, Sept: 26, The international con- forenoo

agricultural and co-operative credit is to creste an. International agricultural credli bank, it vay anneanged hero today. The bank. will grant credits for agricultura I development Ja member countries which include Austria, Belgium, Canada, France, Germany,” Grerce, Italy, the Netherlands and Turkey.

The conference ended Last night.

The

DA an

organisation WIK founded in 1932 to repre- ment

International level agricultural' credit institutes and organisations. -Reuter.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

SINGAPORE RUBBER

MARKET

Singapore, Sept. 28.

Page:

NEW YORK STOCK MARKET

New York, Sept. 20.

. The stock market moved

further

this week, to negotiate the peak of the; 1929 boom advance.

The 70 cents per pound rub since Sept. 20, 1929. In the in- Pricos got to the best levels ber price is proving a stumbling block to market activity dustrial

in

Singapore, the leading rubber strong. brokering firm of Holiday Cutler

Redla

were

stood nt.

Bath and Company Limited At the close of the week, the said in their weekly market re- industrial wyamge port today,

301.07, up 8.33 points on the The report sald buyers lost week, and compared with the Interest at the

high of 381.17 st сп seventy-cent record lovel but when it came down Setpt. 3, 1020. nails were at below this mark sellers dis-118.44 up 2.11 and utilities: appeared,

gained 16 cents to 81.45, within

Acceptances by Australia, & small fraction of the high necompanied by some factory since 1931. buying and off-take to Japan of

number one sheets earlier in the Not gains in the market week, helped to steady the ranged to more than 6 points, market but not enough to main-on the week. Standard Oil

tain the level and profit-inking (Indiana) spurted 116 points to and some liquidation of stock $94% brought a lower closing.

The middle of the week saw political newys reversing the

on announcement of a

| 300 per cent stock dividend.

Os generally were, the best trend and eventually brought gainers. Royal Dutch_rose 41% New York and European con- points Monterey, 3%; Toxas Co. tinental buyers,

Over the period the report hair point,

3 points and Jersey Standard a said"

there has been no real change in conditions and factor sufficient to give a definite

no

the

near

AUTO OUTPUT

trend one way or the other but General the political situation may have outlook for a big year in auto Motors helped by Influence in Business done on the Hong- more tong

output, a $35,000,000 Army, zun It is small consolation for with East Africa as more and moming amounted to $320,200.

Stock: Exchange

future. this

The United States estimate of contract and ni $100,000,000 Lancashire.

115 facing domestle troubles,

collon exercise their own authority Neon quotations and the morn August at 78,040 tons

In Britain ram up. consumption for the month of expusion that textiles are

4 points to a new almost

Is well more than the only

below the year's goods in which the Japanese

monthly high. hold competitive advantage over

the their trade rivals.

import up to their full require- ments of Japanese goods.

Cotton leaders lu this country are less impressed widor

by arguments in favour of making room for Japan in world trade rut

by

Kavernmenta

10

Ing's trensnction::

SHARES BUYERS SELLERS SALES

partially

BANKS

strikes.

ik Bank

Pam Arla

One of the main arguments in favour of more lenient treat- ment for Japanese exports

lo the sterling area is that Japan, off as she is from her traditional Chinese markets, her

grounds, then to prevent her "going Communist."

by the fact that Japanese cotton must be enabled to earn Fatemi

goods are ousting their own living, if not on humanitarian In 1934, he went to the Stuart, the erowds to drag statues of youngest, most gifted, must Memorial

ports in British West Africa. College at Isfahan,¦ the Shah off their pedestals did rudien end possibly most 200 miles south of Teheran. more Than anything else to According to figures published vindictive uf

British Cotton Board the This school was founded by the group Iranian nationalists who rose to Chutch Missionar Society and

this werk Japanese exports of cotton plceegoods to West Africa wake

Dr staffed by Brilans,

from 3.61 increased growth

million Although he was a Scyed, it popularity.

title which in the Moslem world¦ He was feared by many of his means a son, or direct descen- colleagues in Dr Mossadey's dant, of the prophet Maliommet. Cabinet

because he exercised he became a Christian during an uncanny hold over the often his stay at the college. confused and fired mind of the Later, he spent

time Iranian leader and could per-studying in Paris and came back suade Dr Mosadeg to agree to in 1940 with the degree of anything he wanted-even the Doctor of Literature. dismissal of a comrade.

For this reason, he was called

"Mossadeq's evil genius."

Despite two years of increns-

ing power, which he used to the

not

wept and begged for mercy.

Dr

some

Those who knew Fatemi well

Foreign

attitude towards paper correspondents,

one

swing the mood of the Feheran mobs away from the Mossudeg regime to the side of the Shah,

A

the young Secretary at Iranian Embassy in Rome, who ignored Fatemi's instructions to shun the Shah and weni to Rome airport to kiss is Sovereign's hand, was instantly recalled by

Fatemi. Three days later, the Shab hart returned to Teheran-and the young diplomat was L11- mediately rewarded with £ higher positions.

Fatemi's away over the mind

of the ailing and emational Dr Mossadeg

began by 1949 when

Dr

N.Y. COTTON MARKET

REVIEW

New York, Sept, 26.. Cotton traders found the

Lancashire cotton leaders might be

more impressed by this orgument

If the United States, which helped rebuild the Japanest cotton industry after the war, now showed some to buy more from Japan.

But, as Mr Cyril Lord, one of the leaders of the British in- dustry, pointed out in a letter to the Economist, Mr Dulles first approach to "exceptional measures" he foreshadowed to help Japan solve her economie problem was his statement that Japan cannot expect to increase her, exports to America.

MORAL OBLIGATION

he edited the newspaper "Bakh)- tar Emrouz," in Teheran, which line of least resistance on becom the organ Mossadeg's national front.

the upside of the market Bakhtar Emrour nude daily this week. attacks on the oil agreement All deliveries rose to seasonal between Iran and The Anglo-highs with the nearby old crop Iranian Ol: Company and the positions riding far in the lead

At Friday's close the list ruled up 8 to 48 points-40 cents to The Americans, said Mr Lord, $2.40 bale-higher than the helped the Japanese build up preceding week.

their spinning capacity after

from

1.3 million

which

of the Mossaden regime to face most hated man in Iran" mainly Hamburg hospital,

were in

the

his

the

main

of the

As some British cotton lead- ers see it, the United States in under not only political, morel obligation to take Japanese goods,

war

INSURANCES

הודו היי! :

ID

Union Underwriters

SHIPPING

Waterboat

900 913

3.30

A Nav.

K. Wharf Dococ

20

300

attributed

to

Strength was noted in the nir-, Malayan production during Uncs, rails, copper, chemicals, August was 52,500 tons and farm implements, sulphurs, fer- stocks were practically

tiliser shores, and un- 20 D10 changed at 110,457 tops-United tobaccos.

Press.

DOCKS, ETC.

GU

22.70

14.20

13

500 € 14.00

140

Provident

() Sual Dock Wheelock

LAND, ETC. HK Hotel HK Land XD S'hat Land Humphrey Boally UTILITIES

Tram XD

Star Ferry.. Y'risti Ferry

10.40 10,60

07 ·300 @ 11 1.35 19.80 20.30 27.10

10.20 18.40

11

C. Light (0) LMD C._Light_{N} 12.40 12,50

Telephone

INDUSTRIALS.

Cement

STORES, ETC.

Dairy X

Watson

I

Crawford

but

COTTONS

Textiles more

NANGADE MISCELLANEOUS

Into

27.10

2000 400 a 2014 200 20.40

24 24.00 500 13 24.30

17,30

23.00

10 10.30 2150 @ 10.10

3.80

Yanglaze

... 6.80.3.85 1000 Allied ....... 4,1735 4.30 9600 G# 4.20

A Belgian Electronic

Robot

celves, from a large neighbour-

The Bank Of France Statement

Paris, Sept. 20. The Bank of France state- ment for the week ended Sept 10 reads as follows: Total gold holding Total other

franc

currencies

some of the

American Telephone & Tele- Graph Company successfully

involving issuance of $250,000,000 In 34 per cont debentures,

completed a finanaing programme

This helped the market in that it represented an insatiable Investment demand for slocks 201,404,114,320 and bonds-bonds where they represented a good return. There 8.406.114.320 was a tendency to let go of 42,818,140,907

bonds where yields were small Stabilisation Fund · 57,000,000,000 |and not likely to rise. Total bill discounted 1,045.743.948,050 Current accounts and

6ight balance abroad

Advanco to Currency.

Bank note in

deposits

Methi Issues were helped by a 113,409.761,508 firming price for copper in the.

circulation 2.388.428.768.178 World market and the influence

of stockpiling-United Press.

United Press.

London Markets

Rally On New Account

From Our Own Correspondent

London, Sept. 25. London stock markets remained unsettled and prices moved irregularly in the first two days of the week, but with the opening of the new account on Wednesday they rallied strongly and... by the end of the week the recovery appeared to be well under way,

full, The end come at midday on during his years of power say August 19, 1953, in Teheran that Dr Mossadey relied heavily when Fatemi-still more clever upon him for important de- While other Ministers, than the rest-was the first to cisors. realise

and thut We people were ond sometimes Ambassadors, backing

the Shah,

would wait for an hour or more

utside Dr Mesude.

Mossadeq's study. erejit out of Dr Mossadeg's often his bedroom, for an inter- home, the first to

view, Falemi would leave 'the

walk In negotiations terful P. me

the Minister. and

without a knock. He was progress in 1951 between Gen- disappeared for seven months.

only man who could do this.

Razmara. cral All

the then It was Futemi who pressed Prime Minister, and the Com- Security police, who searched

the bewildered Mossadeg to pany, until the former's assas- every city in Iran and Instituted

The nearby December delivery the break off relations with Britain, sination. enquiries in other countries of Orcak

at 35.00 cents a pound showed spindles to 8.5 million. These the Middle East

which he did in October 1952. and Europe

Fatemi's own carcer was inter- A cumulative rise of almost $5 a moreover, were of the latest eventually can him to earth in

After his appointment 08 rupted by the violence which bale since September 7, the day American type "Yor mort this hid:cut, a house at Shemi-

Minister in 952, marked the Mossadeg

un-modern than the average Lanca- regime. before the government's ran, six miles north of Teheran,

Fatemi beenme Government

ment On February 15, 1952, Just after expectedly low crop estimate | shire machinery.” severe his election to the Majlis (Par was published. On March 13, this year. Fatemi spokesman digirys minent), he was shot in

But this was not all. Americs Foremost

factors then created a demand for her among the alamach

by a 15-year-old boy,

mentioned

by lending Japan At his first Press confereige, Muhammad Abd Khoda, who

on the advance was raw cotton

of he remarked:

continuation "I shall not belonged to the Moslem terrorist deterioration complaints, and the said

crop money to buy it and recently, Mr Lord, the United long allow myself the pleasure group, Faydayan Islam (Devotees growing Fatemi

the States Administration approved that conviction Was the youngest of meeting those among you of Islam). Cabinet Minister in Iran for a who cable rumours."

Government's October crop esti- a further five-year loan “to en-

another sub-able Japan to great many years.

up the de- As soon

mate may show Within a few months, he had

A Belgian Dr

parish stantial reduction.

whose Mossadeg became Prime expelled four British and

mand and the prsen "”

"America," Mr Lord went on, all incomplete has up to the alternative current equipment is Minister curly

With shrinking crop prospects, took only 84 million yards of in 1951. he Ams:icon carterpondents and appointed Fatemi, then only 34, had imprisoned local journalists

two months in traders' attention turned more to fabric Japan produced last year res Не spent

present day utilised an elec Deputy Prime Minister, and in who

statistical side

Selling of stores shafes before the end of the old the worked for foreign news hospital recovering from

picture, the factor expected to against the 690 million yards of into direct murrent the alter account was the chief feature earlier in the week... 1952 made him Foreign Minister. services.

tricity sub-station to transform wound before going to Germany fle is the second of the leaders

Japanese cloth we took become the treatment in Fatemi earned his title of "the fee specialist

price-

native current which it re-Speculators paused to take stock of the situation and determining influence as soon as pur Empire markets. We our trial for attempting to overthrow-for

the peak of the crop movement selves only exported 618 million

this was sufficient to bring prices tumbling down, huja After his arrest, on March 13 hia extraordinarily bitter

yards."

ing town. the monarchy. Dr Mossadeq) alteeks against the Royal family this year. Fatemi was stabbed Is passed, perhaps within the

Canadian and English preferred | Demand was the first and was sentenced and Army leaders.

for gold shares was by a member of the self-styled

This operation was carried were the chief sufferers These again concentrated next few weeks,

2. TO SUIT, THEM ̧, on December 21, 1953 to three

Maintenance of At one time, he took to refer "Devotees of the Shah"

on Orange group

out by means of two rotary sets,

shares, after touching 548 6d at Froe State developers and years* solltary

revival of textile, ccafinement, ring to the Shah as "that person as he was being removed to a hopes for

Even if we did buy more from one of 300 hp and the other of the beginning of the month, were uranium producera The Fiann although the Army Prosecutor who fled the

without military prison.

market activity, suggested by Japan, Mr Lord argued, I 200 hp. But the" system pre- country

it dawa to 52s at the start of the clal Times gold developer index Ben- the Government's permission."

in- the good demand for spot cotton would not necessarily keep sented great disadvantages: This wound revived, an

* | last pecouft. By Tuesday-the reached a new peak on Thursday In radio speeches, which were fection In the old shotwound from mills in southern markets. Japan in the Western fold. Any was badly controlled, the sub last day relayed to all regions of Iran and

the surprisingly help wa gave would influence scribers suffered frequent cuts, set up a serious filness along with

of the : send

Issues closed Prosecutor, and which shocked the simple, which kept Fatemi in bed for

under the 1994 only a small minority of the the output was insufficient for had slumped to 30s heavy entries

Other storos shores suffered between three and four shillings Hosala devout, loyal peasantry and the four months before he was well loan programme and the up- Japanese, and, "if and when it the parish and constant super too, though loss severely. But up we to wo Azmouden, has also asked for pro-Shah tribal leaders, Fatomt enough to stand interrogation. ward revision of estimates on suited them to turn to the East vision had to be assured by

Woolworths the death sentence for Fatemi. abused

moved mgalrist the The riso iri price of copper led Falemi has denied all the

team of workanen. export prospects for US raw they would do so?". Two

members of the Royal other leaders of

trend on the hopes of higher to all round gulris mrdon last farally in words which, Iranians charges made August's uprising against the

against him by cotton,

Why then should wo cotton, were contributing back-

not dividends to come following the Rhodesian producers. Nohanga ourselves economical damage the say, a muletcar would use to-the Army prosecutor, claiming ground factors on the rise.

and in- The parish In question, Shah, Dr Ali Shayeghan and

Mr. Lord Traders expressed surprise at dustrially? asiced

being able to change immediate announcement of a fifty per cent was up 183 Bd to, the peak 22is Engince Ahmad Razavi, are to

that he was only acting on Dr

"They gained | 3d; Rhoanglo advanced 54 to 851, the relatively light volume of He mocked Army leaders for Mossadeq's Instructions. be tried, with Fatomi, also on "coing like velled women"

he said, try! Dr Mossadeq, during his trial hodging in face of the umpidity. We have built up an Indus By to the generalised alternative free serip, fuo,

in which deconi nystem, therefore dockicd to 11⁄2 to peak, 928 Úd on the the

before British and Soviet troops last winter, stated that Fatemi of new crops ginnings, and the wages and conditions exist. We install a stalle silentum reelings, Wrak, STRONG WALLY

United Drapery also resisted After

After its earlier dullness the In 1841, when Iran was occupied neted on tits own responsibility heavy sales of spot cotton in are not subsidised by the Gov- Contrary to the system used the downward trend, helped by

Exporta

Industrial Chare market staged southern markets

this low-tension good hall-yoorly dividend and shun the Shah. The old buying, the better quality of material plus labour costs, Not rectifier (800 volts); with, a re- figures.

The 174 per cent a strong rally and prices moved steadily forward, helped by a cho Kim, AkASL Token the fixed prices, agan; her industry, la so'gular delivery of 300 amperes interim dividend maintained on

Lamporini Chernion)":

good company, now. poak output; of 600 the orpital has inergised

by the latter flew to Rome

But in his speeches Ugainst in do these things, whilst look- Another assumption was that intimately connected with the and, a

fairly Government that provided she amperes is naturally ventilated, recent 100 per cent scrip Luc August 1933 at the height of the Shah and Royal Famally he plead guilty to all your

the eyes, then I will producers are holding

charges

quanilty of coltons une gets accors to markets aho can that is, it functions in the opton The shares gained 104 to 2 dividend, against, Lost Year the clash between the Mossadeg went too far. Ilia

41⁄2d on the wockity to In anticipation of higher manoeuvre prices any way." statements without one more regime and the loyalist forces on August 17, 1958, at the

to prioce later in the paren Falemi's trint la

be As the recüdor must 2. Making insulting speeches beginning of the revoll, were so reveal what links

ANOTHER POINT be- United Press.

supervised, use in made of thej abusive and shocked so many tween the former Foreign Minis-

Another point of view, that - famous électrotile brains, so, that: of the Tudeh

that the unit is really a perfected more Japanese goods should be robot. İranlund bolleva : that

admitted to help rales the ziande Ing of colonial people: Minister Talemi was

drgument, of Com

had demanded the death tence.

L

Army The

Brigadier General

trenson charges carrying death penalty.

wards his animals.

Fatemi is accused on

Ave by the Western Ailles.

counts:

1. Instructing Iranian envoys

abroad to ignore the Shah when

in

to in ordering envoys abroad

sald "Bring Fatemi hero and if

to

optimistic

__K10=

wa

ernment and when we export

that the inills have been has to be on a abbels raw in Industry,

of

against the Royal family. (7) paper articles against the Rogal boamorang and arotised Intorise (Misses, or Preparing to set up a regime against the Mossadega Begency Couneli following the Shah's flight.

Writing insulting news-Iranians that they netedater and muristy party. Loe Bank Of England has been put forward is

camily

and

Many

result thousands of towards the end of his term de

Ag

townsfolk troops and

lors, ware #roused to

the

wel ht on the side

fotors-ond, helped

"tement:

Landon, Bopti

It

STORES" BRIGHTER

ANG SANATilby myn Vilces exged alightly

many

With the start of the new account stores took on a bright look and souverai issuoe, rbd some of their dyeselleri | Chladian kind English.ph

dedinary advanced to: 26%

Exchange Rates Hou off immer

four per cent interlin

oquivalent In line with pre cees was announcement was followed

籍

mako hopes the

711⁄2d fall is shares on pront

But this less

4