1954-10-11 — Page 9

THE CHINAS MAIL MONDAY, OCTOBER

EMS Albion, the first of Her Majesty's aircraft carriers to be Etled angled deck and the mirror sight landing device to swist in the landing of aircraft, holds flying trials when si ses during a "working up" exercise,

with both the new

an fast

This picture shows: The new mirror sight landing device on board the carrier. system Incorporates lights, mirrors and gyro-mechanism. The pilot of the aircraft lines up a series of lights that reflect into the mirror with the lighis elther side jo ensure a safe landing.

--Express Photo,

Two Current Book Reviews

AGA KHAN'S MEMOIRS

AND THE

WESTERN APPROACHES

NOLLOIS ADHARANGOND

DE COMMERCE

CHANGE IN THE TORY

Vote Overwhelmingly In

Favour

Of

Revising GATT Rules

From Our Own Correspondent

London, Oct. 9.

A remarkable change has taken place in the British Conservative Party's attitude towards international trade...

A year ago the Party's rank and file overruled their leaders and voted overwhelmingly in favour of the proposal to amend the rules of the General Agreement on Tariffs and Trade to enable Britain to give greater tariff preference to Commonwealth imports over those from foreign countries. This week they reversed that decision and supported the Government's plan to strengthen GATT.

This reversal of Tory sentiment is due primarily to three important de-

velopments:

GATT's

rule."

ןןלי

their

new

he

54 wero

countries

when

could

لام

she

hcr

she was prepared

must

SECTION

ATTITUDE

JUTE CONTROLS

London, Oct, 10. "The Board of Trade na- nounced today the Jate Controls selling of raw into will be increased con- sequent on intresse. In prices in Pakistan.

The

The price Increase is about

pounds (US$16,80) ton announcement said the fate controls selling price Imported goods of hestan type are, correspondingly. Increased but the welling prices of heavy · roods ste unaliered---United Press.

Deflationary Trend In

Indian Economy

The

NEW YORK

STOCK

MARKET

By Elmer Walzer

New York, Oct. 9. Tulities declined 50 cents on avenge this week to mar an otherwise higher share market.

Industrial set 1 Dow high since Sept. 10, 1920, when they backed down two cents. from that level in the Friday session. They closed with a gain on the week of 3,00 points. Rails I gained. 81 cents.

Trading increased to 10,787,- 563 shares with the daily total averaging 2,157,512 shares.

farmi

Bituation

where

dividends.

Tyres, stocks, metals, and air- crafts had wide gains. So did some of the lisues .In Buch Washington, Oct. 10. 1. Commonwealth

foreign Finance the sterling area's polley of discrimination in their

groups as the machipe loo), sul- Commerce Ministera a1

recent freeing trade and payments can tredo unless

Department phur chemical, mercantile, gold, Washington talks once again} only be carried through it other to do so herself. 'This means noted a slight deflationary trend copper, aluminium, soap, pack-

implement, refused to support an attack on countries are prepared to con- that

undertake in the Indian economy, today,ing, oll equipment, textile cement, afrithe, preference form to stronger disciplinary gradually to reinx and finally especially in foodstuff, but said

the abandon

and coal. trado codes. For

remaining res-the trend was "not serious," pound is made convertible with trictions on dollar imports. And

Traders were trying to feret Price: in the overall Indian i Peter the dollar some countries may she must acknowledge once and

the 2, According to Mr

out issuo behind the market Thornycroft, President of the be tempted to restrict their im- for all that the principle of non-Index were down 8.1 per cent and they also looked for special Board of Trade,

equally in the second quarter of 1054, Govern- ports from the sterling area in discrimination applies

#stock split ment's present commercial order to bulld up

reserves of to trade within the Common according to the Department's might be lurking. They antici- policy has been "a triumphant currency that could then be wealth as it does to trade be- routinely isqued "Foreign Com-pated good earnings in steel and

Inside and out spent in America. success" both

tween the Commonwealth and merce Weekly," with the some higher Bide the Commonwealth.

STRONGER SAFEGUARD the rest of the world. These sharpest drops in wheat and rice, The not result of selectivity Under the Conservative lead, he

Britain will, therefore, press are the minimum conditions on Wheat prices dropped from 30 was a sorios of very sharp goins

countries into 40 per cent and rice fell 8 in a relatively

fow Блися. arkl/ said, British imports from the vigorously for stronger safo- which other Commonwealth

per guards against such

United States discrimina- cluding the

par cent.

narrow irregularity elsewhere. of her total trade com- tion when the GATT comes would be prepared to submit

Goodyear stood out as a star When the Aga Khan God the things which are God's don about the greatest sub-pared with 30 per cent before under review in Geneva next to discipline of the sort of trade

The article explained the performer. It gained 814 points. code that the war. Exports to the Com- month.

Britain considers decline in grain prices as large on the week to close at $80 wrote the story of his and to Caesar the things which mariner of them all.

are Caesar's,"

monwealth were 53 per cent of! When GATT was drawn up absolutely essential in her wider ly a result of good crops and amid split-up rumours. There

too, were,

Round But life, spanning two eras

"Mar Horton and the

are added that, "there Indica- the total exports as against 4 in 1047 it was recognised that commercial Interests,

In the eicel section, Pittsburgh Table Conferences

and

the western Approaches", by Rear-

No per cent before the war.

many

PRIMARY PRODUCTS. not, and ranging over sport League of Nations,

tions, however, that the decline Steel issues shot ahead, when with Its Admirat W.8. Chalmers (pub- Conservative need be ashamed

under

But this will not please coun-in wheat prices was accentuated the Company announced it will prevailing conditions, and

restrain Germany,shed by Hodder and Stoughton

a tries like Australia, Trinidad by the rush of grain statesmanship in failure to

of such D

said polley,

100 per Mr immediately abolish

market step up operations to Japan and Italy.

is more than a good

Thornycroft.

criminatory controls over their and Jamaica who want Britain and two continents, he was

that price trend would cent of capacity next week, The whichis) He recalls the crisis

a plece of

Imports. World economy

admit their Was to blography. It is

primary pro

common rose 3% points and the able to say after 77 faced the

League over Italy's intimate history, giving

hamstring new

hy the dollar ducts on especially favourable stabilise, if not reverse."

preferreds more than 4 points attack on Ethiopia in 1935 and

angles or the Battle of the

shortage and most countries had terms because they can't com- the his words then to Mr Anthony Allantle

The prices decline for other cach years of life in

and the British fight

to muit their policies to this fact. pete in the British market with commodities was caused by a So the authors grand manners: "Never Eden that to save both Ethiopia

of GATT In- similar foreign products,

falling export demand, the and the League: "all we need

scried

The correct approach to this publication said. 4 clause permitting have I for an instant do is shut the Suez Canal”

It is a weekly countries to deviate in certain problem depends on the answer publication to inform United been bored."

ways from the basic principle to the question: when is a coun-States, businessmen

on condi- of non-discrimination. during try justified in reeking special tions prevailing abroad, "the post-war transitional protection against foreign com- period.

petition? TIME LIMIT

If country "A" is better sulted One way in which GATT re- to production of a particular visionists could bring pressure article and can produce it cheaply to bear on countries still claiming can country "B" which produces exemption under this clause the same article under would, therefore, be to declare favourable conditions and there- time limit to the transitional fore at higher cost, reasonably that it 18 meeting period." Those countries which claim

"excessive" competition and ask New York, Oct. 9.

still restricted. their imports Losses up to a dollar a bate would then have to show that for special treatment?

If both countries are in, an was necessary this

policy climaxed a week of irregular

'tho balance of payments equal state of economie develop price swings in cotton futures.

grounds and would have to ment and neither uses spocial Prices navigated over the zig-satisfy the International, Rione protective devices, the answer

must be "No".. zag course while traders evened tury Fund that this was so.

But it country. "A" is highly But Britain could hardЛy "ask

America and up accounts before the Govern- of

developed like country "B" is underdeveloped like Trinidad or Jamaica and if,

"That alone," says Mr Somer-

set Maugham in his preface to "The Memoirs of Ava Khan" (published by Cassell-218) "19 enough to make the Aga Khan out as a remarkable man,"

What a fascinating, ebuillent, reminiscence thin

E kings, presidents, statesmen, world actors and artists, celebrities,

Jockeys and Society beauties, generals, nil of them his friends,

crowd the pages.

While much of the Aga Khan's

story belongs to history, weighty political and religious subjects are leavened by a wealth of light human incident,

to victory in the Mediterranean.

The most

however, is this understanding

study of the development of the Sir Max Horton late Admiral

sub-

from the dashing,

marino "ace" of young War I

* Ito the ruthless Commander-in- Chief who played an important for He describes

instance, Queen dinner with

Victoria: part in winning the vital Battle "the Queen, in spite of her age, of the Atlantic in World War

11. ale and drank heartily... the said to me with great carnest ness that she hoped that when British people in India visited mosques and temples they con ducted themselves with respect and reverence as they would in cathdrals in their own land."

3. It has become increasingly

over the past year

clear

that

NEW YORK

COTTON

MARKET

As a young submarine com- By William Plunkett

mander

In World War I. ho earned an international reputa- tion, outshining that of any German "ace.” In World War

II, white he held the post of Admiral Submarines, his flotillas in Home Waters played a major frustrating Hiller's

Invasion

ปีก

It is the recollection of a man who has played major parts in world crises; who is descended from the Prophet Mohammed He remembers the crushing" and has for more than half a handshake of the Kaiser, deve-

his part given temporal century

plans for ind loped to compensate for spiritual leadership to millions withered left arm; the enormous Britain.

important armoured Ismailts,

greatcoat

the of Moslem sect. in India, Paki-Sultan

lived of Turkey who

As Commander-in-Chief East

fear "then in neurotic

of Western Approaches, directing stan, the Middle East and Africa; who has owned

assassination."

the Battle of the Atlantic from vigorous bomb-proof headquarters Derby winners and who hay

of

five

Д

in

Been weighed against diamonds argument with Winston Church-Liverpool, he planned the great

and platinum.

It is never

wherever he is and

or

comparative design to sweep the U-boats

Ho

remembers

itt about the

was firmly for polo."

The many-sidedness

of the

dull because merits of polo and hunting-ho from the Western Ocean.

whatever his subject, St Petersburg Pakistan, the Sultan of Turkey or Rita Hayworth, raccharses or it is a highly the colour bar, personal chronicle, embellished by anecdote.

in

lived in

people

BO

intimately. Florence Nightmanding officer of submarines,

and Elsa Maxwell are only a bridge

Germans Inside

Mahatma Gandhi---

ment's third crop estimate of other countries to practise non

the season, which finally up- peared Friday morning.

At Friday's close the list ruled 21 paints lower to 1 point higher than the preceding week The point changes were equiya-i tent to a decline of $1,03 to an increase of five cents a bale.

the

line. ablo

on

less

United States moreover, country "A" is heavily

Textile

Market

subsidising production of the

were nol

United Press,

Other wide gainers_included Ingersol-Rand up 94 Rohm and Hans up 23, Texas Pacile Land Trust up 7.

There were 741 gains, 603 declines and 204 issues held unchanged out of a total of traded issues of $1,450.

Market méri said the news of market importance was

was favour- RUBBER OUTPUT |ablo, but they held that the list could use a little rent at this The Rubber Trust (Malays);} point. (

Some disappointment produced 523,000 tbs in Septem- bor and the Rubber Trust expressed over failure of the average 10 rise along (Burma) 32,850 lbs, according railroad to Mersis Wattio and Co, Ltd. ~} with 'Industrials.--United Press.

Investors Had A Cheerful Week

In Industrials

Wax

From Our Own Correspondent

London, Oct. 10. Investors don't have to look far these days for reasons to feel cheerful. Last week they could take their pick from many.

in question, the answer is This gives a clue to Britain's second line of policy at the coming GATT review.

GAIT forbids members to use

to

their subsidies

increase The official Oct. 1 crop indica- Aga Khan is reflected in the

exports. But this has not proved tion for 12,155,000 baled care ho writes about

a very strong delerent. Britain Of his young days as a com-

about a quarter million bales

New York, Oct. 9. Charles

over average trade expectations, Chaplin, the ingale,

Religious holidays here slowed intends to see that in the future writes: Admiral Chalmers

but was some 200,000 balds down activity in all baste tex- the rule is enforced. :; Dulco of Windsor, Diaghilev, Thus, in less than two months

Rudyard Kipling, Gigit

adlow the highest of the private tile and fibro markets this week. played of war, Horton had

pre-bureau estimates.

Worth Street cotton goods

Singapore Rubber Mahatma Gandhi, Lord Relvin

of the under the noses

strongly

activity was hindered further be At the lows, the market for neither buyers nor sellers few of those who figure in his fortised harbour. He had sunk current crop deliveries was down wanted to venture too far out

Market The Aga Khan was born Karachi in 1877 and spent his

memoire.

the Hight cruiser Hela and the

The successful conclusion of the nine power con- Of the Quald-i-Azam, the late destroyer 8116, each within

as much as $4 a bude from the before the Government cotton boyhood and youth in Bombay

senronal highs made a fast

ference Singapore, Oct, 10..

on German`` and Poons where his grand Mohammed Ali Jinnah, "arch few miles

crop report. of their own coast.

rearmament, favourable half- weeks ago. Technicians thought When the latter came out on

The rubber market opened an a Persian nobleman who tect father

yearly Budget figures, the underlying strength of the of Pakistan)," he writes: For those achievements, he had setbacks had discounted B emigrated at a time of violent "Of all the statesmen that been awarded the D. S. O. and

Friday,

it proved a stand-off and Saturday lower but later ad-

gold and dollar position and evidence on all sides that strife,

Increase, a little market effect. An vanced on trade buying and internecine

hove known in my life, recommended for early promos good par of the crop

and noted increasing signs of indicated production of 12,511 speculative interest. Seller's re-

Britain's economy is booming — all helped to bring feudal spaciousness.

resistance as the December da- Both his grandfather and his Clemenceau, Churchill, Curzon, recom

buyers into the stock markets last week. Mussolini,

Stocks served but factorles 008 bales, added to the stocks father were mighty sportsmen Jinnah is the most remarkable. Of Horton the Admiral who very approached the 344-ent under Government loan, "assures Interested.

for purposes," Future closings were: raced horses. They bred Brid

None of these men in my Was

to out-think the

enough cotton They shot tigers and kept hawks view outshone him in strength German U-boat chief, Admiral

Statisticians also agired that was the way one executive sum- No. 1 rubber per tb, Oct. 2615-7013 Nov. 701-7814 and hounds.

marised the

the picture. But most

Dec. quoted "Nor am I ashamed of being of character and in that almost Docnitz, by virtue of his own

even with the higher production mill

7594-78 ancanny combination of pre-

"experience in and with sub-

the potential the owner of a big racing selence and resolution which is marines,

Admiral Chalmers prospect,

742-7436 would be more than a million weavers said they would analyse No. 3 stabic," writes the Aga Khan. statescraft."

says: "He loved power and used "My family

names

an the most It mercilessly, albeit with the bales under estimated domestle the figures in more detail over No.

of No. 1 pale repented, Press vas needs and exports tentatively the week-end. beautiful woman he ever knew highest

Yet he honourable,

motives.

But despite the overtone around 13,700,000 caution, prices ruled steady to BATOciation

probably estimated and formerly

Helen because he dare not show it to bales. Lady

Arm in most categories, with template either giving

he took However, drop students point mark-upe taking place on bag The Bank Of France great Ambassador in Berlin."

upon himself the mantle of the

ed out the the size of the crop sheetings, woft-filled shootings, other standard

But one cloud mars the hori-mained quiet, but whero strong man apert. He was not

could be increased, possibly drillsend

zon. The dock strike is spread-price movements occurred they type who could, reprimand

Parla, Oct, 10,

slight setback on Friday, howe He touches on romances with- an officer on the quarter deck | another few hundred thousand | fabrics/Ti

The Bank of France statementing and exports are being held were mostly upward. There was de market, bales in the event of a late INGRADUAL CHANGE -

Veteran traders: sald

Government barrowing d A gradual change. Instead of reeds as follows: Another influential factor in the spectacular buying moves ole kod bolding

LUNAN OUDErdburns the market will be watched for experienced in recent years, in the rate of producer estrier when mile would book millions expres under the Government Joan of yards at a time, buyers now air balance programme. Some tradors operate. En smaller amounts. Advance is th thought that in the event of sh" But the orders keep coming", în trupoya wasbak other, decline of half-cent or gradually ap that the mills are Tous belly more the rate of Impoundings, rosling ena falt-sized order would increase United Press. back-log extending into the first Curens

of next year of some

have had a long, affectionate and with horsemanship

"He

in all its forms. Hod I to con- "without doubt, Lady D'Aber warm-hearted,

дот

up

having a condderable number Vincent, the wife of Britain's those he commanded,

horses in training, or turning it into a paying concern, have no

i

doubt that by selling a consider-

of

in his own family-the any stock,

*Our

· crơp ↑ A vening Drenta, brokers and No, 2 rubber per 1. Oct. 217-231 that company profits bro "higher, {on the nows that Japan has

Spot rubber wibaled Blanket crepe

Statement

703-78% 841-855

In other markets German But encouraging those, these Items are, they are from the bonds were helped by the result investors' point of view simply of the nine-Power conferenco the background to the main fact: and Japanese issues went ahead then they have over, been joined the Colombo Plan. This and shareholders are getting a is expected to open up now bigger cut. Company after com- markets for Japanese exports. pany last week mide manndurice- ment to this effect and industrial shares were hoisted to à now all-

time high peak,

SLIGHT BETBACK

The gut-edged market

could turn it into a paying sham” of his first marriage to a √ and later enjoy a glass, bi gin | Jḍlling frost date to the growing | Dructions have been undergoing for the week endod, Sept. 86 end selling took the shine off the evat, on the prospect of further

fun,

able, proportion business my day of the week, young cousin and in more re with him in the wardroom,”

The close-up of Horton the He has often been asked which cent years "the real and

man is also well painted the he considered to be the greatest wonderful haven of finding. In horse he over bred.

and with my wife a true union dashing young submarlier with Talvar camo on the of mind and

Noul

his love of ambi estimates scene, would unhesitatingly Many grandiose

though always mid Bahram," his have been made of the Aga

serve this d Khan's wealth. ***.

into the shati or He debunks them in these. with the words "About my own personal Aga Khan and but one chapter wealth a great deal of nonsense out of 35 In his memoirs it has been written. There must devoted to the turf.jpg be hundreds of people in thẻ cothe others, socording his own United States, with a larger than mine, vag

have

reply

But racing occupies only one of the many interests of

Khỏ

pening and sagtelour judg. calltimate both of

with him worldwide: 3.kmeni

is the first why: Capital and my income s When he played me that not one out toro kilerin geplant in securing Moslemts perta

#hort!: the aftermath of the war

Church

areds,

Koue U.S. RAW

EXPO

TON

up.

- Thin, and...,the quai wesk-

markets on Friday,godin

FA PROFIT NEWS

Testier

Oll shares were firm on the 201,081,691,428

Increased · Interim olvidend; an- 8244,080,306

Mast of last week" price unsed by Burmah Oll. The 0896,872 movements took place in the Company's shares advanced 8s ahures of toompanies making to 110s and Anglo-tranINTE FORG 3d. to 175 10 Dow 0.000.des profit announcements. In the le

motor station for example

hold, and 1 bu – Friday posed expansion scheme put, the Burmah's went back to 1068 and phares up 44d to Rs 3d though: Anti-Iraolans to £17. 289 they later fell to B Rootes West Indian, öll luck went up 21:04 to be before rewrally well supp Fercling to 442 3d on week and registered several

Btandards prờßit figures and proshut these gains werd not

the bigge