1954-10-13 — Page 9

CALIF.

NEV.

ORE.

WIS."

THE CHINA MAIL, WEDNESDAY,

5.0.

WYO

IDAHO

IOWA

UTAH

NEB.

UNSE

2

2.39

COLO

INO.

KAS.

ARIZ.

MEX.

13

27

CONGRESSIONAL HOT SPOTSA

Where Congressmen Won by

5 Per Cant Or Less in 1952

10

DISTRICTS

AT LARGE

DKLA.

ARK

TENN

MISS. ALA.

IDA.

-5.6.7 NY.

CONN

-12

-5-6PA -4.7 MO

+6N.J.DIST.SPECIAL ELECTION 1953.

FLA.

Control Of Lower House

May Hang On

These Marginal

Districts

Writer

thia In

оп

By HERMAN R. ALLEN Associated

Newsfeatures Press

und 6th

Pennsylvania, has Right about this time, raw, could pig the House 5th

strong hopes of getting une Democratic cantrot.

which have Had intra-party them back. every two years the

But before

the 21st On the other hand, squabbles in both parties you go to work

put New York has just bren political

mine nat who's going to win, year, and the 3rd distret strategists

the how. where

It's

the Washington state.

block through andrew the field of speculation (professional

Rep. decision of Republienn There are other historically

Jacob K, Javits to run for state then amateur) start poring in a le

marginal districts, bul

Javits Win earnest

of

there are some that went mar- attorney-general. over lists

elections with Liberal Kinai in 1932 because of local past Issues What may

party support, and the Demo- or may not

of crats shy he is really poro influence this year's voting,

For

in example,

the Kansas district,

Democrat, Howard S. Miller, won in 1952 by plugging an issue involving a dam in the area, The district had been normally Republican

or

In the first place, 25 of the districts that

close were

In

Congressional districts 1052 were new districts thi

under which for one reason

year, create:

renppor- terment on the basis of the another are considered 1930 census, and there are NO

to show whether records 1952 performance was true to form.

marginal, likely to go one way or another, and hence important in the November elections.

a

The basis for designating district 183 marginal 19 in general the vole cast in the previous election. Those carried by five per cent or less of the

2,

the

These are California districts Florida 3, 4, 0, 9, 21 and 27. 1. Kentucky Maryland 4 an 1 Michigan 17, all the close districts In Mistouri and New York, Pennsylvania 10 and 19. Virginia 10 and the Washington 218 Repub-state at-large district. mow

for years,

Д

1st

In the Maryland 5th, normal- ly Democratic, Rep. Frank Smail, Republican, won on his promise to work for a bill That would benefi local tobacco farmers. The bill did not pass, Two other districts with tong

the Republican records,

# Democrat than a Republican. They think. they may capture the district,

OCTOBER 13, 1954.

TRADE AND COMMERCE SECTION

HIGHER PRODUCTIVITY ON

CONTINENT

Living Standard Now Being Raised

Paris, Oct. 12.

The drive towards higher productivity is having the effect of a "new industrial revolution" on Europe, according to a higher, official of the Organisation for European Economic Co-operation (OCEC).

Reporting on the first year's work by the Europeah Productivity Agency of OEEC, Mr Alexander King, head of the Committee on Pro- ductivity and Applied Research, said:

This new Industrial revolu- | Press conference tant in general, tion will have as great an effect Europe is better off economically on Europe as the, ont which thon at any time since the war, swept the Continent th The Dollar reserves were generally last century."

up, and prices had been largely The EPA set up as a breach | stabilised,

a greater degree of ot OEEC in May. 1953, alms to free trade had been achieved, stimulate the ratio of production and production was rising. to man-hours thereby ruising But productivity is l 100 Europian standards of living. low, and the late of Europe 11 tries to influence not only depends on productivity," M. governmeals but also, private | Marjoilri sald. and public organisations.

FIRST REQUIREMENT

1

ភ

specialista

German-Jap Trade

Bonn, Ubi. 12.

West Germany Importbil from Japan gooda, valued nt 34.339,000 mátke .and exported to Japan roodi valued at $7.324,000 marks during

the Orst balt of 1954. It was revealed to- day.

During the corresponding Period "laxi_year_Japanesa exports to West Germany were valued at 80.319,000 marks against West Ger- ma exports to Japan valued at 60,200,000 marks.

Japan's chief exports

40 West Germany during dila period were whale all, vegetable oils, raw slik

and

ection, and Imports from Gerbrany were machine tools, potassium fertilisers, precision and optical Instruments, yehleles, dyes and raw chemicals.-France Pressc.

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

NEW YORK STOCK MARKET

New York, Oct. 12. The stock market today marked its first Columbas. Day Hession in 46 years with a substantial decline and the dullest trading in more than a month. There Iwas little interest showed at the begining of the market. Bankers und muny other Anancial houses were elcard Most Anancial district restau- rants were closed, too, which citi nothing to brighten the atmo- aphert.

Turnover dropped to 1,020,000 shares, 480,000 below yesterday, and the smallest since Sept. 2.

There was no pressure to the- selling› Heaviest declines came in recent strong issues wheroj profit-taking was in order and

the tobaccOS

which

onco were Jit by adverse

near the close, paring the industrial loss to $1.00 on average, contrasted with nearly $3 at the lows,

again

provinent come

Ralls were firm at the close. Passes in tobaccos ranged to more than a point in American Tobacco, Ligget ami Meyers, Philip Morris and Reynolds Tobacco "B".

Steel shares were off sharply on realising for a time but pull- ed up at the close.

un 25% Royal Dutch ron

Business done on the Hong kong Stock Exchange thin morning amounted to $280,101,25, Noon quotations and the morn-points in the oils.

Motors were narrow, Ing's transactions: AHARES BUYĶES SELLERS SALES Glenn Martin climbed hourly

· ផ

In the day's most active trading, reflecting rumours of a 60 1790 stock dividend to come.

Out of 1,143 issues traded, 605 were tower, 200 higher.

NO SPECIFIC TARGET

He said there was no specifie The first requirement for target, but the United States higher productivity, Mr King was showing the way. Europe's sald, is now Adras and tech-average productivity had only level, nology, but the goal cannot be just passed the pre-wir cchieved unless the second while America's level

was 40 quirement is met: co-operation per cent above 1938. between employer's and cm- EPA's effect in raising

pro ployees.

ductivity connot be measured luc Management must

can-In terms of percentages, he said. vinced that in return for in- It would show more and more vestment in modernisation they however, 03 will cbtain higher profits. trained, labour management BANKS Workers must be shown they relations improved

and are not simply bring exploited techniques were adoptech but will have a chance at higher

Mr Karl Harten, Director' of wages.

one of the most sold M. Robert Marjolin, Secretary- interesting projects Whe on

OEE General

teld the "modular co-ordination" in the

building

Industry, Involving adopting by all European coun iries of the "module" to the unit of linear measure, spanning the gap between the metric and English

glish systems.

A few districts are practical World Cotton

ty open-and-shut cases.

Democrats

Tho

the are conceding

re

Markets

were

now

JK Bank INSURANCES

Union

Lombart Underwriters,

1750 1800 1/25 913

DO

A module is about 10 cénti-, 18th Ohlo district (not a 1952

metres or four Inches long. marginal) because of the

If all beams or girders were signation of the veteran Robert

cut to a fixed module length, T. Secrest. On the other hand,

for example, a builder la England another long-service Deinocrat,

New York, Oct. 12. Clarence Cannon of tho 9th Cotton futures edged up could order them for immedinte lif Missouri

ward irregularly after a mixed delivery from any country district ig believed

start today, scoring gains up to Europe.--China Mail Special. oth safe, That cuts the list to 60,

The only really sure

bole. Of New Jersey and the 9th Wis

around $1 one, lleens to the House of Repre-

flurries Spasmodic sentatives, 212 Democrats, these, some are truly marginal consin, went to the Democrats though, among all the marginal

in special districts is the second and have been for years--the | by narrow margins

activities featured an Improved independent and four vacancies,

district,

1053

for textile for electione in

after the of Kentucky. The Democratic demand The niet only a few marginal Connecticut districts

those new held by Repub-instance;

in resignation or death of Repub-

NO opposition shippers and M1 ́hold ¦ Illiuota, tudionā and Ohio; Heons,

the Fican incumbents. If the Democrats

terests, The

vate are considered marginal. In 1952 there were 85

There are

such.

1st

AMERICAN FOREIGN

Efforts by the United States Government to keep foreign policy out of the Congressional | election campaign have broken down unusually early this year.

airch

out of out of

leaders

the

oth

candidate GOP there.

has

POLICY

Issue Will Be Bitter During Elections

By Scott Rankine

Jed

date.

district

while

o!

mills, United States

other trade in

recent hedge

selling and realising abated. Wool Prices

the

Technicians pointed to The itslstance

shown below 344 cent level for December, Brokers

often

acting for foreign accounts were among the leading buyers,

Scattered

months

season.

buying in later

in

Boosted

Washington, Oct. 12.

above

1700 this years outputive price"

51IPPING

Waterboat

DOCKS, ETC.

K. Wharf... 0014 Dock

Provident (0) Wheelock... 7 LAND, ETC.

22.70

14.00

The Now

York Stock Ex- change bond volume was $3,320,-

000.

The American Stock Exchange volume was 634,000 shares,

2008/07 715 | Unived Press.

*IK Katel ..... 11.to 11,20 100 11.10 2000 11.20 200 @ 11.10

UK Land ...075 ផ S'hal Land.. 140 Humphreys £9.00 20.30 Reaily

2.10 2.15 UTILITIES

Tram

18 18.27 1379 or 18

200 à 10.20

Star Ferry

131 130

Yaumati

Jerry

103

100

1219

C. Light 10) 151 15.00

Light. (N) (2.40 12.00 2000 Electric

Telephone

~DOW-JONES AVERAGES

Dow Jones closing averages on Wall Street today were as follows:

30 Industrials

20 ralls

15 uulities

45 rjocka

40 bonds

Coram, future price index

United Press.

**** 311 312 313 314 Indian Textiles

INDUSTRIALS

Coment

20

.... 20.00

30.000

17.70

24.50 241% 200 24.20

Поре $1URES, ETC.

Dalry Watron .....

37.40 L. Crawford 23.00. COTTONS

Teville Corps 45

2010 a 0.70 Nanyang 1970.9.80 0.00 1000 e 9.35- MISCELLANEOUS

15.00

Allied

5000 420

Feared

In Britain

Exmouth, Oct. 12.

Indian textiles were siated at

a traders' conference here today to be as greatly feared in Britain 4.20, 44 1000 7 422 today, as the Japanese product. The 300 delegates attending the annual National Chamber of Trade conference were asked to resolution that the Government should be urged to Impase an import duty on im- ported Indian textiles.

World Rubber port

Markets

Robert Taft, and the former crusader for the internationailst,

was based on excep- The US. Agriculture. Départ General Eisenhower, in the 1952 tions of smaller acreage allotment today announced a big fight over the nomination of u ments next year in view of the boost in Government-guaranteed Republican Presidential candi-improved crop prospects this wool prices next year with the goal of increasing U.S. wool Trading in the October dell. production 30 per cent This division runs through the

Very will expire voling record of the outgoing GMT hour tomorrow. Open The "new Congress. As a result of contract in the spot month at which will be paid to growers President Eisenhower has fre the start of trading today.totallin the form of cash subsidics. quently been forced to depended 10,000 bales.

was set at 100 per cent of the

Singapore, Oct. 12. upon the votes of Democrats to

and open current "fair" earning power" Trading volume?

the rubber After opening obtain a majority for foreign interests in the

for wool, Exchange to- pority level

market advanced on trade sup- policy legislation which he and

would day were:

bring wool raisers an port, and business was done as the internationalist Republicans

average of 62 cetils a pound high as 774% cents a pound for requested.

Open interest 16.5 per cent above this year's No. 1 Res. after which selling

guaranteed level.

developed and prices fell about The new guaranted price is 4 cant before trade support four points below the 110 per again was in evidence. cent of parity muxintuni allowed Future closings were:

امن

11,800

This

A Lancashire trader, Mr G. M. Fortill, opening the discussion, said that India imposed B0 pm rent on rayon silk and 80 per. sent and above an colton cloth imported from Britain. The Lancashire textile, trade should bo protected. -

"That is a pretly one-kided business when we remember that Britain ni India are both ho

The

both of Republican

Democratic and

the wartime Presidential election Communist settlement" of the Parties, members of both Houses campaign of 1944.

Indo-China war at the Geneva of Congress up for re-election in

These eloquent pleas by. Mr Conference, - November, and wp party

Dulles hayo boen politely atrategists at the two natiomal

The fact that both these de- ignored by campaigning speech- headquarters in Washington are makers even of his own party exploited by the Democrats, have alive in internal party cen- teals, now being enthusiastically The split has also been kopt making major

and fres bitter campaign issues

been dealt Republican campaigners,

to the Eisenhower | traversles 'over such 'questions the reactive foreign

by. the

Mir Administration Vice-President,

at the hands of as the nationalist Senator Josepli

in the new Wood Act. Wool No. 1 rubber per lb. Oct. 70-70% in the Cominonwealth," policies of the Truman and Richard Nixon,

McCarthy's feud with the Foreign have launched the French Prime Minister, M.

Nov. 70-7831 growers had asked that the new Eleenhower Administrations, and the old 1952-style attacks upon Pierre Mendes-France, explains Operations Administration of Mr

Dec. tinquoted declared, the merits of Mr Dean Acheron the "war pulicies of President some of the bitterness In Ad- Harold Stassen,

Prices of futures closed today level be sel at the 110 per cent. No. 2 the Formos

per 1. Oct. 701-7626 figure.

No. 3

Mr H. Loster, Hastings and Mr John Foster Dulles os Truman and Mr Acheson and ninistration circles against the policy, of Senator William

No: 4

.7436-70 The Department said the 62 spot rubber bated Secretaries of State.

(Sussex) trader, opposed the contrasted these with

Knowland. Intervention in Indo- the French "New Dealer."

-734-7834 | resolution" "Avhen the British cents a pound price, "should | Blanket, crepe "peace" policies of President

China and the, Brickor Amend- The Republicans, for their ment to limit the President's

stimulate

3514-8014, Commonwealth is called upon productions, toward | No: 1 pale cropo part, cannot avold becoming treaty-making powers.

300,000,000 pounds of wool a

NAM. ÁMSTERDAM··

'to penalise India' whose help and Democratic speakers, ted by involved in foreign affairs, be-

year" It ulso said the price is

The market was steady. Prices assistance we so much need, in "consistent" with available wool closed today in guilders ver lems we are surely making fatal Pro- cause one of the most emotional

the settlement of Asiatic prob tariff receipts which will be kliegiem. Cit. Nov. as follows: used to pay the subsidies. No. Tubbor United Preas.

No

Except during World War II,

It has almost always proved in- Elswhower and Mr Dalles.

possible to keep foreign affairs. out of the rough and fumble of

the former Democratic

To exploit this division of their,

two points abundently

*electioneerin as the bitterness sidential candidate, Mr Adlai and popular appeals available enemies 158, the ülmost, the

and intens.ty

of the campaign Stevenson, have made uninhibit to them is based upon their claim Democrats are endeavouring is mounts towards its final cimaxed attacks on

wer that it was a Republican Ad- | make the Elsenhower In alternity Novembers.

Administration on the grounds ministration which, In 1963, cieur In their campaignt What is unusual in the 1954 that it has lost the Initialve ended the bloodshed of a wor

Tho. first campaign is that the abanden- the Communists in the Cold in Korea which they had identi ment of even the pretence of War and dangerously reduced Bed in the 1952 campaign as internationalist Democratie rather bipartisanship and national unity United

Truman's War." International

States

"In foreign policy should have power and prestige by foolish

come so soon.

*

cuts in foreign aid programmes

abroad and defence expenditures at home

Month

Volume

Oel,

0,700

Dec.

$3,500

603,500

..

Mar:

44700

BET 400

May

50400

043,200

July

Dec.

Mar.

100 21,000

3,400/ 200

300 800

TH,200

01,200

9600

Total

362,100

2,405,000 bales,

Spot

Dec.

as follows:

Oct.

* Mar.

May

July

Oct.

Des.,

Mar.

30.00

NEW ORLEANS Prices of futures closed today

as follows:

33.351

34.00-07 29.14

38 23

4925

Chicago Grain

Prices

rubber

rubber

Nu crepe

5 rubber;

El buyers mista

2.30 buyers*** 2.19 buyors

He was supported by a north 242 buyers of England textile trader and no

vote was taken on the resolu ton-Reuter,

LONDON The market has contiriflea steady with "Mo. 1 Rss spot dawn of a penny to 283/9. perce. Prices:

Chicago, Oct. 12, Prices per bushel in conts:

Closing prices Bottle Wheat, No. 2, redukt Spot Dec. 31714 (11), 2189 (2)2-7167-21011 Ap

LIVERPOOL

Future closing prices, in penco American middling,

MAY.

May

July Cárni No. 2, yellow.

154-1044

is that a volė för un

than, a-hattorinlist Republican candidate is in many Congres-". sional contests the best way ar ensuring a vote In Congrési for President Eisenhower's foreign polley programmes. Normal, The Domocrats have an even The strategists of each of the

for puiling The second is that the Ro- Before the political campaigns two parties have some very real stronger reason

In the forefront publican Party and Administra but

for foreign polley motives differing Opened up in September, the

of their campaign, neid that, istion dro eo Hopelessly divided per lb. this unusually Socratary of State, Mr John andouraging

that the Republican Party and over foreign policy that they 10/16 inch, were as follows: Foster C

spoody abandonment of bipar Dulles, mike a number

particularly the Republican cannot be entrusted to, conduct Qal/Nov; of now traditional public appeals tianship.

mcmbars of Congress, now up that polley vigorously and Por hon-partisan attitude to The Democrats with from the fcf re-election, are fundament effectively. ward foreign policy questions.

start to take maximum political ally all divided on the basic Hold the historic plea hdvantages of the inevitable objectives of United States Thus trategy has an added

Senator-1 Arthur

of the party police dimeuities

advantage. Foreign policy, Vandenberg, that politics "stop at in power. The most burdensome

that it must take serviationalist,

Although a predominantly "in") It

the ⠀⠀⠀ Republican, altack webacks to United Teles during its term for nearly two

7thị: Waters,

with both

partial combining to present an ultraponiibility for all the president has now been in office the Citrited front to the outside world.

the fucous with, which He, res

the then, Fent

the

the

Deo./Jan. Mar/Apr: May/3 July/Aug

AULO

Nov.

nont house lart!

TOPS MARKET

London Foreign Exchange

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