1954-10-22 — Page 9

THE CHINA

"FRIDAY, OCTOBER, 22, 1954.

OFF TO SINGAPORE IN THE SQUALL

KI

Temporary stop for Robert Brennam, (left) smoklag vipe, age 20, an artist of Essex Road, Clapton, London, James Simmons, ago 21 (poel) of Ireland, and the Skipper owner Mr Bill Blakes, (centre), at Newlyn, Cornwall, England, where hey sailed after breaking their main mast in a gale off Lands End, These three Intrepid young men are sailing to Aira- poro-a distance of 10,000 miles in a 13 fi, Bermuda-rigged yacht "The Squall". The yacht originally left Belfast on August 20, calling at Ardgloss,. Elikool, Mallahide, elc, and then on to St Ives, where further preparations are being made before they contlaue their hazardous Journey, when they hope the next port of call will be Brest, They are leaving Newlyn shortly for Portsmouth, to pass the Doctors, "The Squall has no motor aboard, and the adventurers are relying solely upon sall to take thom half way around the world. -Express Photo.

THE WEST IS NOT

SO WILD

BUT IT'S TOUGH

Cheyenne, Wyoming, Oct. 21.

Ranch life in America's west is a lot more comfortable today than it used to be, but it is still hard work.

While Buffalo Bill might not recognise all the modern con- veniences, he would have no trouble in fitting in at a moderate roundup where cutting, branding and riding have not changed in 100 years.

horstis are

Today's ranch homes, have] In the mountain valleys and television aerials, running water, foothills, however, electricity and all the other still the primary methods of mechanised devlees which make tending fences, rounding up mid-twentieth century life caster strays and carrying out the und more comfortable.

chores.

Some of the biggest concerns,

liko the Warren Livestock carry

counis of

In the mountain valleys, 100, the cowboy of today must gill weapons agninst Buch

mountain coyotes and rattle snakes,

Company of Cheyenne, use menaces vehicles with two-way radio ar uitcraft to Lake their herds, and race over the prairie in jeepą.

But when the basic work of ranch la to be done, it still

The uniform hes not changed, because no one has found more practical outilt for him 'to wear when riding, branding and working out of doors. His tight clothes prevent hus from get- ting caught on bushes, fences or boots in the saddle rig. His cancel out the chance that his foot might slip through the stirrup and

bo he would dragged by a frisky horse. His against wide hat protects him the wind, and sun,

TRADE and

HONGKONG STOCK EXCHANGE

WHEELOCKS AND BANKS TAKE

THE LIMELIGHT

}

By A Special Correspondent Wheelocks and Banks provide the news of the week

for the Hongkong Stock Exchange- Wheelocks with their dividend èum bonus of 75 cents, and Banks with their meteoric rise to $1,860. The Wheelock dividend "first: the actual dividend is 50 cents or 10 per cent and the bonus is 25 cents or 5 per cent, making 75 cents in allfor the year to March 31, 1954. In the previous year, the total dividend on the then $20 shares was $3,50 which works out at 87% cents on the basis of a $5 share.

So actually their dividend ly down. Their prost for the year 1953 was $4,140,508 so it would appear that with this year's lower dividend the profit is lower. The distribution wili tako up $3 million which rallier Indicates that the profit will be somewhere between $3 and $4 million but I would prefer no to make any predictions at the present.

COMMERCE SECTION

U.S. Rubber Consumption

– Now, York; 'Oct; 31. Rubber ** Manufacturers Association estimated total consumption of 'natural'KATE synthetic rubber in the United States during Sep.. tember ni 188,587 fong tons compared to 13,940' long tons in August,

The total comprised 52,- 688 tons natural rubber and 63,887 synthetic compared with 37,564, $40,503 reipEO- lively during August,

Consumption of synthetic rubber included 42,410 tons of GRS compated with 31,213 tons In August.--Heilter,

Sales For

'Sales For Foreign

Currencies. Is

Accelerating In U.S.

London, Oct. 21. American agricultural exports are dominated by two things. One is cotton, where the U.S. has billed itself as the supplier of last resort. The other is the unloading of U.S. farm surpluses, particularly by the "sales" for foreign currencies. Until the other cotton-growing countries take more advantage of the U,S. umbrella, the main effect of the first of these is to distort the seasonal pattern of U.S..

Most

World Cotton exports of raw cotton.

Markets

As the importing countries do in large seate has passed. not go to the supplier, of last mations, prefer trade."- The In-

for

resort until they have hopped- fegnatiorial Monetary Fund's up all the supplies offered on Angual Report remarked that better terms. from elsewhere, while, to date, Usposúla of the the previous nulump peak of U.S. surpluses have not had, been great effects, uny threat to com- US. cotton exports has forward pushed

10 R spring inodily prices would be serious peak.

the primary producing The other factor-the "sale" countries.

foreign currencies-18

Accelerating from $16 million source of continuous and rapid. in the year. 1953 to perhaps $100. ly mounting pressure. Shipments million or over $100 million or under this programme, which more a quarter in the altarted late in 1958 and amount future, the dispossis clearly cd in that year to less than $15 enchance that danger. millor, exceeded $100 million The total of possibly · ·$1,800 during January-June 1954. million over the next three years -

is formidable.

New York, Oct. 21. Allieds Bro off slightly, down from $4.225 to $4.175 but the Cotton futures see-sawed nar- cotton group is strong with both |20wly in moderate dealings ig-| Textiles and Nanyangs showing day. better prices.

At the close, prices ruled. 0 Unions have not been able to points lower to 1 pomi higaap. keep pace with their big Opened unchanged to a lower. brother, Banks, and have drop- Now Oricans Lutures finished 1 ped out of the picture tem-to 7 lower. porarily. Yesterday they wer Prices declined slightly of the quoted at $040 nominál and opening as hedging again offset were $930 buyers on Wednes- price fixing. There also way as ogaine buyers $825 last come speculative

Biquidation Thursday.

which

was influenced by the

LAST QUARTERS Hotels are quieter, business small amount

at $10.80 the Government loan, and the th each of the past four quar

or

the

and some

of entries

Was

Into

P

hear

Quite a number of people, it appears, are wondering why Whoolocks pald a 60-cent

WORDING CHANGED dividend and

being done yesterday a 20-cent bonus.

They have accelerated rapidly centa lower on the week. current slow demand for cotton

Moreover, there is a change not a straight 25 cent Yesterday must have been one textiles. dvklend, they ask? And the

quietest days sino

ters. Obviously they are going the wording of the Act. Under fear in their minds is that next rumours about the sale of the noon

There was a Tull in the after-} to "accelerato further, seeing Section 350 of last year's Act, deliveries re~] that the Department of Agricul- | the Amărican amelals, who sell if business is not so good year

Pedder Street plot first started. covered as much as 35 cents a ture is right now negotiating the surpluses had to safeguard the company can still pay an unchanged dividead

the sale of $384 million of the against disturbance to the nor without

Trading in the distant de-surpluses, and is only a mal marketing of the U.S. and tentative target figure, Onelals friendly countrice which meant The Exchange reported ex- expect it to be, ingreased in the virtually all other exporting

of disposing of the

has authorised

the bonus or a smaller bonus without compromising their dividend policy.

Ice House Street is rife with

theories and speculation but at

the moment I think these fears

are premature and the suspielon 甘 not really warranted-of rather that it is all based

extremely hypothetical cases,

од

You notice that despite the

fact that the dividend was down, the shares were up slight-

TODAY'S SHARE PRICES

(From Our Cotrespondent)

bale from their lows.

Riverice was slight.

that

ports for the season to Oct. 18 first at 587,362 bales, against 515,281 $700-1 bales in

the same period last 200 surpluses which

season.

the next three years.

over

counties.

In the new and larger 'pro-. gramine, the mention of friendly countries is dropped and it is

The Commodity Credit Corp, Morcover, and highly im- only the normal marketings of reported loans on 1954 crop col portantly, this $700

moment the US. itself that the officials ton in the week ended Oct. 16 not be the lot. eminent are ordered not to displace. at 60,694 bales, the largest on American expert (Dr Brandt of China, Mall Special.. the crop so far.

the Food Research Institute. Trading volume and open in of Stanford University) reckons terests in the Exchange today that, additional authorisations extend the $700 million to al- Open interest must $1,500 million

were:

ly and In the last two days Business done on the Hong-Month there has been a fairly, heavy-kong Stock Exchange this morn 16 37.500 turnover at $7,70 to $7.75 ing amounted to $363,991. Noon May which is 20 cents better than quotations and the morning's July Tuesday's rate. This, If any transactions: thing, reflects satisfaction. Cer- tainly I have heard of no one who is disappointed.

THE BALANCE SHEET

should lions,

The calving and lambing periods are also times for wäleh

requires rugged men, riding modern science has found

strong horses.

The

covers

Warren ranch 300,000 acres, On its grazing land, are some 2,500 catilo and 35,000 sheep. More than 100 men work there, tending herds, mending fences and taking care of the millions of jobs entailed in looking after livestock.

Even on normal side ranches, where about 200 cattle are run, Jeeps and trucks have taken much of the old-time burden away

of

Today's rancher is the first to admit that ranching 1954 style is easier than in the old days.

He is also the first to tell you that when the thin layer mechanisation is ripped away, there still remains the rugged outdoor work which has been the trademark of the cattle in- dustry since its earliest days.

a

Winter in particular, puts premium on ability to work hard and long imparsible conditions. When a blizzard sweeps from the mountains across the plains, modern highways

no

com-

Ranchers today enjoy forts in Uleir homes. They take advantage of modern transport short-cuts. They are jobs which require brute strength, endless to visit cities hundreds of miles stamina and nerves of steel.

dway, without interfering too The rancher of today is still

much with their ranch routine. casily recognized men,

But the basic Jofas still tight shirts and punts, his quire a sturdy man willing to

courage and western hat and wobbly, high-pit his

Hi

stamina

heel boots mark him, even if against the odds of nature. It his windburned face docs not is still a rough job for tough give him away."

men.--China Mail Special.

A

Dream

For

Fades Cinderella

Rome, Oct, 21.

Attractive Ida Maria Iacono, 17-year-old Cinderella from the Italian isle of Ischia, who hoped to become an English heiress, is seeing her dream fading.

Mr Robert Füz Auchier, 47-| He showed me Rome and year-old bachelor and managing Florence, and finally took me to director of the Coated Steel Co London, where I arrived on July portion of Europe, registered in 2. are blocked Jersey, promised to adopt her pre- and take her to London to be and each ranch must be pared to fight for its life on its groomed for. her new life. .

But now he has discovered he cannot adopt her,

OWL

aform can ruin in

A

"Everything seemed so strange and frightening that I cried for two days.

"But room I got ured to Eng-. I spoke to dark-haired Ida in tend, and when I left on Sep- Rome today, and found her bember 2 I cried again because I Bewildered, happy, excited, and did not want to leave. I think worried. She said:

London, is wonderful.

"While I was there Ivont to school to study: English, learned to drive a car and bar ed the test.

And then

I

SHARES DUYERS SELLERS SALES "BANKS

HK Bank Bot Asia INSURANCES

Union an interesting

The balance sheet, however, }.

prove document and I awalt it with Interest as well as the Chair- mane remarks on the company's | activities in the last 20 months,

1850 1800

200

2 930 940 Lombard Underwriters DOCKS, ETC.

X. Whart

Dogic

Provident.

of

addition to

to either -Agure. there is the $300 million surpluses that the President is authorised to give away out- La famine or other urgent right 3,697,200 bales. reitet to friendly nations,

without

even getting foreign

Prices of futures closed today currencies for them.

NEW ORLEANS

30.03:

Dr Brundt laconically ob 34.50-31 Serves: "The time for charity on

34.82-83

Volume

EUR 600*** Deo. 110,000

608.750

29,300

761,500

3,400

343,900

1,400

80,000

Dec.

1,500

63,000

Mor. Total

#20300 V

$13,000.

131,300

NEW YORK

as follows:

Sool

Dec.

Mar

May

$4.06

July

33.00.

OCE

34.72

Dec.

34.76

Max.

34.00

24,40 14.70

Wheelock 7.10 130 2000 48

Prices of futures closed today

as follows:

2300 74

Spat

33.05

Dec.

34.40

Mar.

ALES

May

35,00

July

£4,50

Get

SCD 210 218

$4.71

Dac

34.70

24.956

in

Tram Star Y'mall Ferry

XD

$8 10.20 200 # 10.10

134 300

132

300

184

C. Light

Electric

C. Light

19/10 Inch 32m 7th inch - 30.02 3734 324 350 0.3214 ↑ Mexican nigding

1-132nd [neti - 33,85 700 32

Others were unchanged Telephone 7.40 27.70 200 27,40 1000 i

Official values in spot coltons, In pence per lb, includer American middling.

LIVERPOOL

And now Banks: they are up on the week no less than $60- to $1,850 yesterday. On Wednes day, they were $1,850 and tho Ieg Housd Street experts 4x- pect them to pass the $2,000 mark soon

Reuters" "middles show, that the London Registers are fetch- while ing £107% in London, the nominal rate "quoted Hongkong,for the London rogisters ac" £1081⁄4....

Reuters Com- According to mercial Cables, the shares rose in London entirely or buying pressure from Hongkong. The report said there was greater demand for local (HK) registers that and the assumption was there would be a bonus issue at one for four. There were other that the Hongkong rumours Bank. may buy an interest In a British Baak in the Middle

East.

NEW 18SUE TALK-

Now issue talk is not new of course." It has been, going for some time, but a few people have told me recently that their brokera havo "boèn Advising them to buy banks, that some« thing more tangible than murs rumours is in the wind; My broker friends know nothing more than I've told you, how-

ever.

LAND, ETC.

HK Hotel.. 10.00 10.90 MOÓ @ 30.80 HK Land..

Humphrey Realty UTILITIES

NEW YORK STOCK

MARKET

New York, Oct. 21. Last-minute profit-takmg shaved a bit the sharp gains piled up by industrials and

World Rubber left rails slightly lower on

Markets

Singapore, Oct. 21,

average today.

The

realising hit hardest" among recent railroad strong spots after the climb in that group to n.new 24-year, high: A tappers ike in Indonesia Losses amounted to 2 poin's in helped the Singapore rubber Atlantic Coast Line, 14 points market to recover sharply yester in Union Pacific, a point in There were a few strong day and, first grade rubber for Louisville and Nashville. November shipment closed at

Missouri 77% cents à pound-a rise of spots, nevertheless, one and i cents over Tuesday's Paelle preferred cilmbed along with the road bonds as the closing.

The local prices also respond trustéo asked permission to pay ed

overseas $66,014,780 back interest on some to thelugher SAO PAULO

market and remained at the of the bonds, Futures closing prices, In higher levels, throughout the cruzeiros per kilo were a fal

1000 17.00 low—

INDUSTRIALS

Cement . 321⁄2 33 1000 STORES, ETC.

· Dalry Watson

(N) L. Crawford COTTONS

Textos Nanyang MISCELL Afied

24.70 24.00 500

16404

21.76

Doc.

17.10

Mar.

May

2003

July

7.7.13 10.10 10.20 DOUS

4:16. 4.50

New York Sugar Market

· futures

New York, Oct. al. World No., 4.:: migür closed today unchanged to 1 point higher with sales of 20 contracts

Domestic No. 8 sugar point futuros closed unchanged to lower, with low of 12, contracts. Ik mes de futuros: were quiet, reflecting Blackening in re- finery Buying of raw sugar. No world raw up ported, gadles were re-

Future closings wore:

Contract No. 4 (world)

Elsewhere in the market there have been a number of utilities in demand and Cements have risen to another new high "at 132--up $1.50 on the work The market talks is that they will

reach $30 soon without any trouble.

Business has averaged "aver the million mark this week, re fibeling

Zair smount Investment Interest r

sept,

severo A a few days the work of a life -time on a ranch, Herds which have been patiently and care

brod can be wiped out in fully. hours In the Howling wind driver sow

be met in The problems to be not winter storm 'are: 'feading;"pro-. venting

the cattle from wander."I met Mr Fitz Aucher for the ing before-the. "storm;: and first time last May as I was walk- Preventing them from dying as ing with a Swiss couple near my they stand still in the stormmative village of Bant Angelo,

"ma. Bíodern vehicles often become "Mr Fits Auchér: looked usels in the wild winters of intently, but did not speak ful house in Fall Saree, the Among the uuldes sought were y

Electrics the west Only horses cannabi: "Next day he called on my West End of London Ho also 31%) and Telephone (up from

(up from $31K 1 Epot- the, chest-deep mow drifia; and paremita and told them he wanted Has a

Rolls Roycel

...$26,80 to: 627,40). Dalry: Furma only strong men can stand the is mopt, me, look after my "I like Mr. cold and wind to coury food to education, and eventually make much Ho

busway are 30 cents beller WE $24.80,

Crturkind to stand still" in gundiys

Ich them

"I played toonie, and I also went to a nightclub for the first time in my life. YE

"My now daddy has a beaut-genuina

New York. Centrál ráse

fo $2014 when its

day. The market closed very point

Prezident eliminate its dencs.

steady, Future closings were:

30.00

No. 1 rubber per 1b

31.10

November

29.10

December

20.00

January

nog

70-1/10-78-3/10 unquoted

Cin the United States, the Nobber per 11-75 average price of 15/16 middling No. 9 rubber per bb.. cotton at 10 designated apot November

7834-77 markets was 34.10 cents. Sales No. 4 rubber, por l

November at these centres totalled 70,472 Spot rubber umbaled: 2735-lay bales.)United Press.

Blanket crepo iz 23%-74%% No.-á pálo crepe mer. 37-50

NEW YORK Futures today closed 5 to points higher with unles of 132 contracts.

NEW YORK BILK

DE FUTURES

New York, Oct. 21. Silk futures today closed, un changed to 3 points lower with no sales reported. Closing prices;

-4476.

447b 4.570

Press

by year-erh It was the day's most active'issue,"

A INDUSTRIAL GAINS," Industrial gains, ranged well over a point despite the realising.

Steels were strong. Chrysler moved up: 94. to $6734 Company unveiled its 1955 Dodge modela rose

ט על

$33% on a lower earnings

Atlantic Refining lost 12 to report but other oils had : TRIE Bar

The markot steadied on the Jing to more

than o

better

Factory

ber, Sun

(which

week) and Texas Pacific Land Trust

* Out of 1,218 issues traded, 480

higher. 434 kwer Sales amounted to 2,320,000

consumption interests were for-daptit The rise bobsled December, 1954, March and July futures were positions to new seasonal high shares

Spot No. 1-Rae were quoted at 27% cents, nominali、 Future

Chicago Grain dings were!...

Market

Chicago, Oct. 31. Prices por bushel in cents:??.

Closing prices

21036 (2)

December March May July

September December

LOND

The market wi Ras spot

The New York Stock archange bond. volume.

36.050,00 The

American Stock

1726.803)

shares

volume was

600,000

DOW-JONKS AVERAGES

abotit