1954-11-24 — Page 9

THE CHINA MAIL, WEDNESDAY, NOVEMBER 24, 1954.

U.S. RELIEF SHIPMENTS

GERMANY $21,063,840}

FRANCE

$14.377

AUSTRIA

[$2,641,260;

ITALY $10,932,712

TRIESTE ($617,249)

U.S. RELIEF SHIPMENTS OF

FOOD SURPLUSES ABROAD

During 12 months ending June 30, 1954, value of surplus food commodities diarébuted in distressed areas overseas by voluntary salief agencies totaled $44,642,282

KOREA $1,233,462

MOROCCO $344,873

FUNISIA GREECE 577,772 $1,804,719

LEBANON

IRAN

| $915,601 ||-|$87,037

PAKISTAN N INDIA SL016,740 || $1,752,672

HUNG KIE $37,413

New Programme Typifies

Expanding Overseas

Surplus Food Distribution

By DAVID L. BOWEN

Associated

Press

Newsfeatures

Writer

TRADE and COMMERCE SECTION

WALL STREET BOOMUS. TRADE

Blue Chip Industrials Push Average To All-Time High

New York, Nov. 23.

Blue chip industrials, responding to a heavy demand, made history on the New York Stock Exchange today.

They climaxed a soaring post-election rise by lifting the industrial average to an all-time high, topping at long last the historic peak set Sept. 3, 1929 just before the gigantic slide which culminated in the record low of mid-1932.

World Cotton

Markets

New York, Nov. 23. Cotton traders today centred their main attention on adjust- the December delivery

A special Thanksgiving appeal will be made in thousands of Protestant churches throughout the United States tomorrow for a programme its sponsors see as a return to the literal spiritcident to first notice day of the Pilgrims' first Thanksgiving in 1621.

The motive then was to share the fruits of labour with neighbours of different tradition and belief in a search for peace and mutual prosperity. That is precisely what the "Share Our Surplus' programme hopes to accomplish on a worldwide scale, according to the Rev. R. Norris Wilson, executive director of Church World Service, the relief arm of major Protestant churches, which is sponsoring the drive.

*The

pkraun

japa

at

זי י

of

The issuance and circulation initial tendera for 15,100 bales kept

see-sawing prices

of

Over

n range active dealings

of $1 a bale in

Tuto in-

A faltering start was followed by a smart mid-session rally,

the upturns ran creased liquidation and hedge welling.

but

interests,

Lo

Now It was the blue chips, or, been widely anticipated. highest grade investment issues, an accomplished foot, many in which put the market over the the Street looked forward fop. Du Pont soared 4% polnia s higher levels, to $154%; General Motors 254 points to $024; Standard (NJ) 3 potrils

$103 to Standard Ol of California 20% w $721% U. S. Steel a point to $B

There were other wide grins throughout the list, but it was these Issues

the which lifted Industrial average 3.27 to 382.74) or 1.07 above the old peak,

น

the

American Wheat

Subsidies.

Washington, Nov, 23. The Agriculture Depart- ment announced subsidies

on wheat und four old from 331 p.m. EST today until 3,30 mi

Nov, 24:

Shipment of wheat from the Gulf Coast will be 70 cenis a bushel, from the East Coast, 74 cents per bushel, and from the West Coast 67 cents per bushel, West Cont flour $2,42 per 100

pounds.-United

Presa

HONGKONG STOCK EXCHANGE

POLICY BRIGHTER

Washington, Nov. 23.

Tik Washington Pos' stud editorially toftoy that "lve pros- pest for on efficlive U. S. irudo polley is brighter than at any the in several years."

The Post bas this opinion on President Elsenhower's past statements that a frees tande policy will be a central part of hls Jegislative progritmine 1955, and on the Democratie platge to give Mr Eisenhower's trade revetuurndations top priority in the House of Repre sentatives.

who

The pledge was made by r0- ipresentative Mr. Sam Rayburn, will be speaker of tho Heute when the Democrats tako over majority control of Can-

ers in January,

(From Our Correspondenti Business done on the g-

Activity wontinuac Hi the heaviest pace in several years,

turnover

the topping with

mark 3,000,000-sluze

for the konk $10,k Exchange thr eighth day in A row and thening amounted to $700.607.50. 12th in the

pest-election Noon quolations und Ther Sessions.

'morning'a transactiona |SHARES BUYERS SPELERS SALES Turnover of 3,000,000 shares or 10ANS was Apppert only by last

100 130 Wednesday's 3,830,000.

15

SHARP CONTRAST This was in shurp contrast trucive

wildly

speculative history. Of of 1929. There was higher, market contrast tou, in Wall Street's changed. These were 200 me matter-of-fact acceptance of the highs set, only mx new lows, new highs. The new peak had!

U.S. Economy

Doubled

Size In

321

East As INSURANCES

I'lem

derritet

Providet 199 13

Wheelock X1 # 710 $

"A!! this is highly encouraging to persons who believe that à high level of foreign trade con buttress the American economy and strengthen the tires that bind the non-Communist world," the Post sald --United Press.

Chicago Grain Prices

Chleage. Now

Park Cut pelen

BANKS

HK ak

The

of 1.260 market

WIN The bitidest

690 These,

k.WIT

FIIS REKA

202

..!

Ppters 1 bushel in

Pests

213 20

Wheat, No. 2, red

Spot

Were

P 20

Thee, 927101) za

252 1:11-

DOCKS

F

Mas

K Wharf

71,

May

234-223%

Dock

: w!ཞt ༩ 3

July

Sep

Cur, No.

4. yellow

1A 1930

Bol Dr.

150%

4.3

L

14

50

Mor

*R

DIRE

Ju

Sept

1430

150 100 21 18.90

1500 18G

Boe

Star Fenty

1940

134

Atar

Oats

Younoil

Ferry

1.30 100

Ha

There were

EVERY

good performers classification. Aud only a dvw loses of any size.

The New York Stock Ex- change bond volume was $5,959,000,

The American Stock Exchange volume was 1,150,000 shares.

DOW-JONES AVERAGES

Dow Jones on Wall Street follows:

30 industrials 20 rails....

closing averages today were as

Final prices ruled up 3 to 15 points. The market opened off Orleans to 4 points. New Further anding the movement distributam of surplus foods for closed off 1 to up 16 points.

credited Buying

to Dallas mollecting upwards of ser taillan of these "wastung" commodities religious groups with large va-

the new art | Ku

Kunisations abroad is slumated

with sintribution are provis S

ulong

a spol collura to Anne

heu:0 demand ସ୍କ9 th: Dic sat surplus foods. berg made through which a high percentage |at not more than 5 per cent of

widenal, differences March The value of the food which bv the avadlubile live

United of transportation costs to overs

gift of the

plus commission house buying delivery points are mad was received free as Stans Grenument. The Thanks- seas

with the slock market rise, This US taxpayer. For the religious this giving appeal year is the first duvettv

indirectly.

stendiod The the greatest fuod

after market

Washington, Nov. 23. in a drive expicted to last means the private agencies have wancies, I'

United in their history. vl

The economy of the dis roller bargain

December touched 33.70, a new During that only to bear the cost lead three years.

States has doubled in size and w since last April 27. For the destitule when receive beyond the point ohemia estimate | tribute be CWS

character The fruits uf

Textilo this Amria:n

market

news, spot changed sharply in market developments, seneurity, it sumelianes

crop during the last quarter century, the difference between life and acounts and the usual run of the U.S. Commerce Department Comm. future price index

special study. earth. of

influences were reported today in price-shaping temporarily cst sight of in the The "most significant change light of the December adjust- In character since 1920, the

Department said, has been ments.

Trading

Govern- volumes and open threefold Increase in interests in the Exchange. to meni spending. due largely

much bigger national security day were.

outlays.

They will need 71⁄2 malnou dekīnes | dvivvery over exis

to distarhate a barwen gal sit

500 mellem promis

1.

"Shar Our SurpÏUN “ 15 (41) xangalef the spectul impetus The 1 being given mgmamalarak sat Protestant, Cath Je - Jewish

by agonisties

TRUY

*** the 1sterai la ! wing disparavadients.

Ad Sant

T

turbines Pick-

During the 12 months ending

1st June 34 The compatry - a ing up bars. more than 44'2

mullion chillars of surplus butter.

a vase, pe widered milk and other the put in the hands

J

et vatans of war, famine and

de arter through mut

the world

by religius miti vaher voluntary vilent agenens Of this total of

With this big as it from the

the toll govemment,

incans

U.K. Trade Union

Plan For

Coloured Workers

Coventry, Nov. 23,

One hundred union leaders are to debate here on Thursday a controversial plan under which

fed, approxins dels 85 per cent coloured workers in Britain would be deprived of

was distributed Reps alors

13141

recent

VARIANT

under

خرا

religious

13--

***ponded

Barone made possible by the legislation. wluntary are alining during the year at boosting the ngres to 700 inillem pounds of

worth

than 200 figues

more

ndition dellars. These

based

rots

in

promotion prospects and working security.

The plan will be placed before the Regional million strong eight Advisory Council of Britain's Trades Union Congress by Mr Jim Leask, organiser of 60,000 engineer members of the Transport and General Workers Union.

Open interest

180,500

Month

Dre.

Volume

$1,000

Mor

May

M1 200

253,100

4,100

Jarly

18,000

447,000)

1,000

100,000

Duv

1,900

13,400

Mar

2,000

May

200

10,300 200

Total

213.100 2.763,000 bales.

NEW YORK

a

to

16 litte 3 Kicka

bonds

LAND, ETC

HK Ho HK Lant Huanphreys Renity UTILITIES

C Light 0; 1860 16 D 2000 in 70

יאת

いま

1301

Mar

Soybeans, Na, 2, Tellow

Light (N1 13:30 13 40 1000 140 VF30 $

Spot Jan

Fr

Mar

2003-

Firette

301 MO

May

29714-1k

500 ... 3612

July

2200 301

Berit

-300 • 100%

Barley

Sel

J2.74

130,36

***

Macon Be TA

140.49

25.40

101.0

174.22

Dement Robe

United Press

World Rubber

Markets

Singapore, Nov, 23.

The market opened steady on oversens acceptances and ad- cased towards 110011

But there were other deep running changes, too, when the economy of 1953 was compared with that of 1820, just before the start of the great depression.

changes showed sharp vices but These differences In spending for pers

use, and in the pattern of Profit-taking with support very Prices stendler in personal spending, accompanied caulicus. by a decline in the farmers the afternoon on further trade Prices of futures closed today share in the economy, a big rise support and little factory buy- as follows:

in industry's share, particularly ing. Futures closings: that of manufacturing and marked Increase in the percent- age of national Income.--United Press,

NEW YORK METAL,

FUTURES

Dec.

Telepivar INDUSTRIALS

STORES, ETC

Dairy

11 ד 151

200 14 361,

34, 355 300 31,

HAM 17.00 |

Sne

LF1

240 to R4 a 28,43 TWO & PUJN) 0.00

17 90 18 10 27.30

Watson. L Crawford COTTONS

Textile Curin Nanyase Xi7 9.93

MISCELLANEOUS

Yangtze Allied

710

10 1040 7 in

234093

1.90 31 1300 3.85 4.22 $271, 1500 ze

LONDON WOOL TOP MARKET

New York Boyur

200 th, xack

לג-,2011

130-150

$14.0011

-United Press.

London Foreign Exchange

New York Montrea Amsterdam Brussel Copenhagen

Odo 423

London, Nov. 23, Wool tops futures market had

F

Pari..

Stockholm

Zurich

London. Nov. 13. 2,70!%-2.19.3/10 3,701 2.703/16 10.00-10.61

110.60-139.02 194219-19423. 20,01%-20.02

14.44-148515 12344-12.2444

Chets were unchanged. -- United

another strong day with prices New York Foreign

for

the most part up pence per Il. The clon we firma, turnover was 169 lats. Prices:

No. rubber per ib.

Dec,

013-3/10-83-5/16

Jan,

82-15/10-81-1/10

Feb.

unquated

Deg

No. 2 rubber per ib.

Jan,

Dec,

Mar

No. 3 rubber pår ib.

May

July

No. 4 rubber per ib.

Sepi

Oct.

Spot rubber

03-03

Dec.

Blanket crepe

70-77

Jan.

No.

i pale crepe

*9)+02

Mur.

May

fol.

14.000

14.00h

00,76

New York, Nov. 23. Prices of metal futures closed felny in cents per lb. as

lows:

Spot

Dec.

4.450 33.07

Мат

34.33-34

Mor

34.63

July

24,00

Oel.

34.34

Dec.

34.42

Mar.

34.42

Max

34.54m

NEW ORLEANS

Prices of futures closed today as follows;

Lend

Nov.

30.50

Dec.

Tin

Nov.

34.30

Dec

34.58-69

Zinc

Nov,

34.37

Dec.

10.301

54.43

Copper Nov.

54.03

Dec.

32,000 32,400

an:

34.03

54.43

b-bid n-norginal -led Prest.

July

Oct.

Dec. Mr Leask declared last night) are flooding the labour market. Sp

claint Mar These trodo unionists on minimum require he is putting the plan forward

of that if the coloured workers May great deal ready on

file with the to "avold a

should unemployment| gain a big foothold in the Mid- Council of

of Voluntary trouble"

return to the Industrial Mid- lands, the Jobs of many whites Dec. for Foreign Service

1471- would be jeopardised if lands. New York, which represents the

employinent returned. 10 agencies for overseas relief recognised by the U.S. Govern- ment. If realised, they will be more thon quadruple the size of last year's effort,

Change in law

This tremendous increase is the result of a change in the governing diaposition of

law

surplus foodz

His plan has four main points: 1. That coloured workers should not be given supervisory Jobs over whites,

2. That they should not get jobs it white available.

could be dicased by the U.S.support

workers

arc

Mer.

May

LIVERPOOL

elostngs, Futures

American middling, 15/10 inch, in pence per ib. were as follows.

NEW YORK

Futures closed today 15 to 30 points lower with sales of 131 contracts.

Fallure of early buying

90.63 levelop

10.20

LONDON METAL

PRICES

to

any follow-through

brought subsequent

hedge offerings.

re-selling

A pause in the factory de- mand

for physicals, and the smaller consumption figures for also neted October,

to upset

rallying tendencies.

Domestic Odtober consump- tion of 114,041 tons contrasted London, Nov. 23. with. most dealer expectations The in market was much for between 115,000 and 118,000 firmer today while other metalstons. were stendy. Prices closed today

In the spot market,

several

in sterling per long ton as hundred fans were reported done on February one sheels at

down to 284 coms a pound,

Landed, boss, Spot No. 1 sheets

28 centa were quoted at

Dec./Jan.

Mar/Apr.

31.54 31.70

May/June

July/Aug.

31,90

hio

Oct/Nov.

21,00

follows:

Official values for spot ections

Buyers Seller

a

I'd American middling 18/10th inch 33.18 7/8th inch 20.00 littlo Mexican mosiing 1-1/3and inch 3340

Others were unchanged.

BAO PADLO

Tinapal

3-month Copper spot

morith Land Nov,

Teb Zinc Nov.

Feb

717

7271

72035

721

2734 238

27211

2005

107 2001 100

pound:

104

Futures closings were:-

Doc.

$1

Маг.

20.16.20 25.40

Prous

May

28.30

Futures closings, in cruzelres par kilo were as follows:

Dec

July

15.30

Stopt.

28.225

29.45 32.00

May

July

31.50

Oct

32.00

NEW YORK WOOL D.

TOP MARKET:

Many workers would like to see Jamaleans and others placed on the same fooling, as Poles and other displaced persons were in Britain after the war with guaranteed employment so had long as British workers 3. That there should always comparable jobs, be talks between employers and

Leack said about Mr unions before any coloured plan: "People will shout about staff are employed.

and there may include: a colour bar, That coloured employees be bad feeling among coloured

themselves, but should be the first to be sacked people

much in a recession.

sooner have Under Section 410 of the

the Re- trouble now than a great dent Mr Leask expects Agricultural Act of 1949 only surpluses in danger of spoilage gional Council of the T.U.C. to later.

his

would "This is a great problem, and plan, which then go to the General Council has to be faced while there is of the Congress in London. full

Our employment.

Drst But the

The background to Mr Loesk's loyalty must be to white people CHOPINIA | move is

Mor a growing infime of who live in. Britain and have Act of 1954,

workers-chiefly | been coloured

at their trade a long bocome officelive July 10, Jamaicans-into the Midlands. time.

Doction to make re-

bar, "Nobody wants a colour Birmingham hay nearly 8,000 lease hinge upon the

prevention coloured workers,

and more but there will be bitter racial (In the United States, the @25,000 1587 Prices were; waste of commodities

al-feciing it, say, a coloured charge average price of 16/16 middling po aro coming every month, before they can be disposed of tracted by good jobs and high hand is kept on

while five colon at 10 designated spot in normal domestic channels,

white people sacked. It markets was 83.75 cents. Sales

Bro paya without Impairment of the

pries

Employers are welcoming the only needs a lump to set the of these centros totalled 52,277 July support programine,

coloured Immigrants as there whole thing nlight,”

bales) United Press abroad.

Mr. Jim Brown, Midianid

OF an climated 45,000 jobs prices....

ganiser of the National Union vacant in the Midlands.

Pockets of resistance against of Railwaymen, sald;

YORK COCOA With storage costs of surplus the newcomers are developing very worried. There are stroes commodities at a million dollars bng workers.

that British"); Mubjects Thore - have irents

PRICES a day and rising steadily as the beer cases of bus drivers, com should have equal rights for Zurth price support formulae ductors and electricians 10 promotion, cause more and more purdhames, firing to work with Jamaican The, nawor, logically, should commodkies

be crystal close, 1: whose sioenger comta recruits,

Commodity Credit Corporation to rullef organisations. Ageleultural Trade Development

Assistance

ol

ho

this

ཐོ་

competitive

solá world

are

are likely to equal or augue Union leaders see a difficult colour, bar, but was their mutual value are dermed luation developing among our worker thio account

daster of “ being wasted, many of their ran They thun become available to WHO LATE Opponliis

want

NEW

New York, Nov. 23, Wool tope closed 42 to 71 polote gber with sales of

180.Da

100,Th (103) ham.

178,7-traded

•170M· · traded 173.b

LONDON

A

134.128 12474-120

14-12415 Canada

124-120 124-1241 12324-12314 12374-1241 122-137

12211-123

Exchange

New York. Nov. 23.

England-official

unoilleial 30-day futures 90-day futuLDER

Australia...

New Zealand 112-127 South Afrien

Uruguay

12115-322

United Press.

2,70 3/16

2.70 7/16

-United Press,

Tea Price Increase

For U.K.

Unfortunate For

London, Nov. 23.

London's Financial Times says in an editorial entitled "Ceylon Tea":

•

The further increase in the export duty on Ceylon tea was not unexpected, though it has come at an unfortunate time for the U.K, tea trade,

It is certainly unlikely to help

blenders in this country to keep

down the retail price of tea. It New York Sugar

the further

that is probable sharp increase in the level of this week was

auction prices

to the anticipation partly due. 20.25

The market was gutel with spot No. Ras quoted at 25-3/10 pence per lb. Pricom: No. 1. Tím spot an

"Settlement house term:

25-2872

044--

24-74

24-24%

Jan.

Feb,

MAY

Mar.

£75,04 || Jan./Mar.

Oct.

Dec.

Epos

173.00 1110 traced

171.00 Apr/June

Oot/Dec.

nam.

.162.6

United Prom.

Katala"orepa

change Rates

-AMSTERDAM Www The markol

by the market of the present

rise in the duty.

The

Market

Now York, Nay, 23: World No. 4 sugar hilures

question is now how far closed Roday unchanged to one buyers are willing to absorb the point lower with mlos new Increase. They will prs contracts. ably do so at least in part. "It

Domestic No, 6 sügar futures is, difficult to think that prices closed one point higher to two at the next Colombo auctions points lower. with sales of four will react by the full extent of contracts.

the now increase, AR

"In this

Futures closings were:

Contract No. 4' (wortá)

in

country tho effect

expected 2314-21 may be to hasten the

rise in retail prices, an further General markets, oil basin, portmi

193-34-7/10 what's greet anls will have on March Dee Jon,

26/10-7414 Bukk

consumption is now the question May Feb.

July undoubtedly

the intereste of both, the trade and producers Splicenta per that there should be a mbra, Cube)

level of prices in tho

be/haped alny in gulder that the Ceren Government which has been, quickc16, TriG the duly in a rising market will.

Saty

Maple not by behind in. lowering it Maral

should the price of ten fall,

Ofríoní.

United Press

pol