1954-11-25 — Page 9

THE CHINA MAIL, THURSDAY, NOVEMBER 25, 1954.

First Over North Pole Air Service Starts

Crowds greet the "Royal Viking" on lis arrival at Kastrup Airport, Copenhagen, at the Many well known personalities were on board the end of the great over the North Pole flight. "Hoyal Viking" airliner when she landed in Copenhagen at the end of the first over North Pole service light from Los Angeles, a journey of more than 5,800 miles, a saving of about 500

miles on the normal journey.—Express Photo,

NO

SURPRISE ATTACK

ANTICIPATED

AGAINST

THE WEST

By JOHN BUSH

Paris, Nov. 24.

A sudden surprise attack against the West by the Soviet Union is most unlikely at present, according to officials at Supreme Headquarters Allied Powers in Europe (SHAPE) here.

TRADE anund

COMMERCE SECTION

Page

JAP EXPORTS TO P.I. NEW YORK

Slowly Breaking

Into

The Market

Manila, Nov. 24.

While the hue and cry over reparations continues to rattle public forums in Manila, Japanese exports are slowly but surely breaking their way into the Philippine market.

This progress may not be very fast or spectacular but it certainly indicates that Japanese are increasingly successful in the exporters Philippines. The net effect of this is the progressive narrowing of Japan's large adverse trade balance which has characterised the trade between the two countries since the barter trade agreement got underway in June, 1960.

The trend of trade

between The first two months of this the 1*hildr$firs and Japan year continued favourably with mating the first half of this year, abaen exports well over 2,500 based on figures, unmistakably tons for January and February. the steady progression But they fell sharply in March to 1,028 tons and continued the downward trend to 1,114 tons Inst June. Meanwhile, prices also fell.

The overall trade between the two countries;

2. Japanese imports to the Philippines.

first

revased

Manganese

exports to Jupan Detailed trade figures for the sharply slipped during the first

half

ut 1934 recently half of 1054, accentuating the sed by the Central Bank of downward trend that hit it the Philippines

that throughout 1953, and show

fell to Japanese importa totalled 7,824 metric tens and a mere 115$13,048,000 For the period. $178,500. This marks a record figure for

IRON ORE Japanese Imports for any six- month period since the start of the barter trade.

With

U.K. STEEL

י

RECORD

Genova. Nov. 26. Britain's steel production for the second quarter of this year broke the record for the whole history of the industry with 4,900,000 tons, day in announced to- quarterly steel bulletin of the United Na tions Economie Commission for Europe.

Western Germany Whe second largest producer for the Quarter but was stil oho million tons behind Britain with 3.900,000 tons.

for the in- also A

recard dustry, easily

surpassing that of the corresponding the previous re- quarter in cord year of 1938.

IL

Germany's figure WAS

I la expected that West German steel production will be further stepped up armament Industries

to function with the re-creation of the German armed forces.

AB

begin

The E.C.E. steel bulletin also shows that exports of finished

from ricet

the European Coal and Steel Community closely ap- proach the previous post- war high-Reuter.

HONGKONG

STOCK EXCHANGE

World Cotton

Markets

Now York, Nov. 24. Cotton prices today opened higher and remained en a arm

course for the rest of the day.

Clearing almost on the highs for the day the list was up not 7 to 23 points with December lending. Opening prices were unchanged to up 11 points. Now Orleans closed up 6 to 20 points. Spasmodically active dealings featured pro-holiday covering, domestle mill and exporters

buying.

Tho Now York and New Oricans cotton exchanges will reanain closed tomorrow for ob- servance of Thanksgiving Day.

Trading volumes and open interests in the Exchange today were as follows (all in båles);

Volume Month

December

March

May

July

TO 300 274,000

56.500

STOCK

MARKET

New York, Nov. 24. Industrial stocks, which made history yesterday by breaking through 1929 prico levels in their average, kept on going today in the most active session sinco Dec. 18, 1950.

Industrials, despite the profit. taking usual before a holiday, ren up 81,88 on average to an all-time top of 884.63. Individual als ranged over two points, although many of the blue chips which led yesterday's soaring market imaringed only fractional improvement In the face of realising.

the pace was

four years,

The trading fastest in nearly falling only 1,000 shores from the recorded 4,000,000. interest blocks dotted the tapo

Open

Large

104,500 ranging to 8,000 shares at the 085,000 1.000.000 opening, when tickers ran late 450.00 for more than a half hour, and

*13,000) oven larger later in the day,

EXTRA DIVIDEND

2,783,400 320,000

Cartiss-Wright, which 10% sponded to an extra dividend

Prices of futures closed today with a ring of 1 to $18% and

25,000

October

10,000

Deceniber

2,600

1,700

March

4,000

1200

May Total

1,000

1,700

NEW YORK

as follows:

Spot

Dec.

Mor

May

July

Oci

Dec

Mar

May

34.75

34.10-11

34.40 34.22

| Sunray Oil, up 5 to $21%.

The market of 1,265 lasuos was second only to yesterday's 34.72-15 1,200, the broadest in history, 34,40h

Of the total 540 were higher, 468 2431

lower with 108 at new highs, Ave at new lows,

கர்

NEW ORIEANS Prices of futures closed today

follows:

Spot Dec.

Mor

May

July

Des

Mor

May

34.10

34.48

Rail shares did better than Industrials on percentage, thanks largely to a gain of 24 points in Union Pacific which responded 34.74-30 to a favourable earnings state-

14.74-70 34.40 ment and extra dividend declara-

tion.

34.89

34.40

ד זה

Oils again were about the bost Iron оге exports to

LIVERPOOL

ty A group. Japan, equal to the total output

High-priced Futures closings, American Amerada gained 3 of this product in the Philip-

points, (From Our Correspondent) | middling 15/16 inch, in penes Philipe 14, OVERALL TRADE

plncs, holding

Deep Rock 1%. their own, ail The overall trade between the other exports to Japan substan-

per ib

were as follows:

Shamrock 14. Houston OIL Business done on the Hong- Dec./Jan.

21.00-90 however, gave up 2 points on two countries for

Increased this period fully

during thekom Stock Exchange this morn-

Mar/Apr. also hit an all-time high with period under: review: molasses ex-ing

May/June

22.00 realising. amounted to $407,037.20, Increase of ported amounted to $1,180,000 as Noon quotations and the morn-

53.70 July/Aug US$37.846,500, an

Det/Nov.

31.75 US31,504,000 than the figure for against

$1,107,500 during the ing's transactions

Oficial values for spot cottons Last six the Last

include: which was un a

all-time record raw suger to $347,000 as against SHARES DUYERS SELLERS SALES | American middling 10/18th inch 4220 despite a fall in export figures. $223,600 for the whole 1953.

BANKS**

1860 JD00 10 1800

.91211⁄2 820

These officials, at the "brain" of the 15-nation North Atlantic Treaty Organisation in neat rows of barrack huts in the country just outside Paris, state that the Russian forces in East Germany are

mount at present strong enough to "profitable" offensive alone. They would have to be reinforced by units from the Soviet Union and such troop movements could not pass unnoticed.

The

not

officials | But, they add,

Heakquarters sere confidesat that in the event of war, ground forces, belong- ing to the North Allinile Treaty Organisations, partentarly when strengthened by 1950 when the Best German divisions age

on at International conferences here in October, would be able to hold the Hussions back and stop them from sweeping over the Rhine

ון

Soviet The

10 Union does not appear to increasing her armed forces t present although they are "eut- stantly improving in quality" well trained and now have is bloe of 4,000,000 well-equipped

turing Atlantic ports which are ice-free all the year round,

اولة

In addition, the officials saul, The Soviet Union has an in- atomie custry and particularly fretories, expable of effectively forces, supporting her armed although in a long war the in- L'inting out ເປັນນ n Soviet | dustrial power of the Western (vision has the fewer support nations would outweigh that of ing troops than

Western Russia. division, the officials said that

Thus,

future war the West devotes far more men

with the West, the Soviet Union to the medical side and to large personel organisation would have to aim at a quick speedy informs relatives

brliging of Thrust

prevent a quick pears to have no comparable Husslan victory in a surprise organisation.

Soviet "seu-of-attack in Western Europe: men" taelles in the last war their disregard for lives.

the officials

Things have よか、というざいい。 they

1950 2491

when the Supreme Allied Commander

which Europe, Generał Alfred Gru<72= ther, asked alt jeuke what the soldiers killed, wounded or victory. Two things, the officials Russlims would nevd to much missing. The Soviet Army np.

the Channel and was told "just

shoes.

If war broke

declared.

but tomorrow, illustrated The Western Powers would individual medlutely use atomic weapons, which omelals regard as the West's only counter to over- whelming Soviet manpower,

Field Marshal Viscount Mont- gomery, Deputy Supreme Com- mander in Europe, told high ranking British officers London recently: "I want make it absolutely clear that we at SHAPE are basing

our

operational planning

10

ull

on Red

using atomic und thermo-

nuclear

defence."

weapons in

Live off land

with

1

severo

said.

would

a

1. Tactical atomic weapons.

contribution when

2. The German of 12 divisions, rendy.

canhon

months of 1954

1954 corresponding period last

last year;

to

It is interesting to note tha! There is

is no doubt, according HK Bank Philippine exports Japan to economie observers, that INSURANCES wero, maintained at a rate of Japan's share of the Philippines' between $4 and $5 million a a trade should be much higher. month, only slightly less than Although the bickering over the the second half of 1933, and reparations issue was not able dropping sharply to about $3 to stop the normal

progress

ot million monthly during May and trade over the Philippines, it is LAND, ETC Julie

certain' It

considerably Importy

from Japan, on the hindered i

off with Contrary

started

Tho settlement of the arduous January, $1,760,000

senled

led reparations squabble between the the $2 million Agure In two countrica appears moro February

remaining well over urgent than over if trade be- this level for the rest of thetween them is to flourish, these Iralf year, with ¤ peak of observers concluded-France- $3.223,500 in March.

Presse,

agreement

Thus for the Arst time since tho barter trade started, Japanese imports exports 57

here.

bos

World Rubber

Markets

80-801

611-63

*

Stoels continued in demand. Non-ferrous 'metals Wire whcona

The New York Stock Ex- bond volume WDA 7/8th inch 28.15 change Mexican middifna 1-1 ážná inch 33476,800,000 (best since January

Others were unchanged. SÃO PAULO

12).

The American Stock Exchange Futures closing prices, In volume was 1,200,000 shares.

Union Lombard Underwritern Bl DOCKS, ETC.

K. Whart .72 Dock

500 20 13 Provident 10 14.00 Wheelock XD 0.93 7 500 7

Cruzeiros

follows:

28.10

pee.

Ms

July

HK Hotel HK Land Humphrey. UTILITIES

Tram

.. 13.20 13.40

Oct

03 031 1700 22.00

%

(In the

..... 18.70 10.00

1500 38.10

Star Fry 138/140 Yaumsti Ferry

100

per

kilo

were as

12.25

United States, the

average price of 15/16 middling designated spot markéta 500 19.76 at 10 1000 or 18.60 was 33.85 cents. Sales at these 500 103 centres totalled 48,939 bales).---

United Press.

C. Light (0) 10.00 18.70 800 10.70

300 16,00

100

10.00

C Fight (N) 13.30 13.40

Electric

1333

13.49

1000 61 13.30

30 30%

... 0.25

4154273%

400 or 30%

133 er 30

200 30%

GOO 20.00

35

1000 35

Chicago Grain Prices

the percentage of compared to to Japan reached

Macao Elc, 11.40. agalust 37 per ecut, 08

Telephone pcr cent during the last

INDUSTRIAL 29.00 29.00 half of 1953 and 42 per cent

Сетель ... 3514 33% 887 Ropa

..... 18.30 for the whole year of 1953, and

1953.

Singapore, Nov. 24. Thero 48 per cent in

STORES, ETC. Pricca opened about 4 cent instances when the below yesterday and

Dairy

20.60 28.00 were past

27.30 Crawford sagged value of Philippine exports even slightly

with trade Kis tripled that of Japanese Imports somewhat sparking. Some email

support COTTONS

Nanyang XD 9,86 10 1000 10

1000 19 0.95 factory interest was seen in the | MISCELLANEOUS GAP NARROWED

Yangtze market Futures elasinizs: These would be supported by

The first six months of 1954, No. 1 rubber per lb. Dec. 824-0376

Allied the Western world's trump hccording to economic observers

Jon, 82-021 card in the face of Soviet

Dec, unguoled hero In addition, the Soviet Army power-American atomic power trade between

was a period that saw

No. 2 rubber per Ib. Dec.

017-811 tends to "live off

Japan and the No. 3 the ind"

and American and

No. 4. British Philippines progressively switch

704-7015 when advancing, thus reducing strategic bombing forces which

The Spot rubber unbaled for

keel. an even to supporting could the need

Soviet narrowing the lay waste

Blanket crepo

154-704 Allied officials homelands.

of the gap in the services. But,

1 pole mYDO

00-01 NEW YORK two-way trade was not brought says, if in any new war the

Army

Futures today closed 25 to 30 advanced

The United States Army has about either artificially through Into

curtailment of Pilip points lower) with sales of she would find herself 18 85-ton 280-millimetre atomto Japanese Europe, our raced

supply

in Europe.

Allied p

Imports, the same observers contracts.

Pre-holiday evering up fuel officials believe that the Western problem in bringing and ammunition for vehicles and ground forces, especially when Indeed, both imports from operations featured the smaller

German

that terminal market trade, aircraft.

Japan

and exports

while Mar. divisions, would be strong country progressed substantially consumer interest, in the spot Mar

the first half of 1054, market came to a practical halt. According to these officials, enough to force the Russians to during

Spot No. 1 Ras spot were is esti mass before they could launch compared to the same period last j But the West's weakness in the Soviet Air Force

of aircraft

Da the an attack with any prospects of year

abova Brures quoted at 27% cente a pound. Spot Future closings were: Europe is in the air. Officials mated at 20,000

between 6,000 success. Such a concentration of indicate very, clearly. say that the Western Allies are various types,

Dec. Exports increased nearly $2 Per of them deployed troops would, they say, be an gap and 10,000 gradually narrowing the

"ideal" target for atomic shells. million compared to the first halfway and that "Soviet air superiority facing Werm Europe. About

half the Russian aircraft

of 1953, to roughly $24 million, July but decreased about 13 million Sept. compared to the second half of Dec.

LONDON SHAPE

It officials estimate Europe.

the same year, is interesting

The market was quiet. Prices only Soviet land forces at about 175

abaca and

And clorad in pence per lb. as tactical divisions, one third of)

The Soviet Air Force had no The Soviet Army is assumed to note that

manganese

declined exporta

Follows:: them armoured or motorised. jot bombers two years ago, but to be working on the problems during that

compared

No. 1 spot Res sho now has aircraft comparable of dispersion in atomic ground

to the first six

ths of 1953; Battlement house term: Of these, between 30 anti 96 to the Canberra and the warfare, just as are the North as did also copra and copper ore 7. Tab. divisions are stationed in the American "B 47", which can Atlantic Treaty Organisation

which were already at ar exports West-in East Germany, the cross the Atlantic in four | armies..

a very low ebb. All other ex-Jan/Mar. Baltic countries and Western hours. These are being built

ports went up

rubetanually: Apr/June

July/Sept. Russia. About 22 divislona ard at an increased rate and will

logs, lumber and Umber, Iron Det/Dec. in East Germany. Between 30 give Russia a strategie bombing Power in Europe, itself and 40 divisions are stationed capability in between three and into the field" earlier this year ore, chromite ore, moings and General markets, dif busin

in a praction dispersal of its raw sugar. 400 offers, 300 other ranks and

The weakness

reinforced

are .

is not as great as it was a year jets. The North Atlantic Treaty forces havo 4,000 jet aircraft in

ngo." But it still exists,

in the Far East and the

rest five yours time.

inside the Soviet Union and on

its frontiers, notably ол

Iranian and Turkish frontiers.

In addition

to

by

the

Dispersion

Supreme Headquarters, Allled went

to

2 LUMBER. LEADS

Dev.

·Pab.

Jan,

Lots, lumber and timber ro-

241-25

Chicago, Nov. 24. Prices per bushel in conts

Closing

up What, No. 2, rea

Spot

prices

Deo.

274) 22835(1)

July

Sept

Corn, No. 2, yellow

220-14

21011 2403

100

27.00

27.04

0.05

May

July

gept-

rbeans, No. 2, yellow.

Starley,

Spot

New York four

200 lb. sack

0-2416

AMSTERDAM SA

* The market. Wits quiot. : Prices

Cir, Dec, ou follows:

DOW-JONES AVERAGES Dow-Jones closing averages on Wall Street today were as follows:

30 Industrials

20 rai

25 item

30 stocks

40. bonds

$34,03

131.00

群

101.04

-Unked Prem

Comun. future price index 173.04

BRITISH GOODS

LOSING GROUND

IN MALAYA

Singapore, Nov. 24.

Malaya imported S$85,952,993 worth of tex- tiles during the first six months of this year and re-exported S$80,124,856 worth during the same period.

Imports in June totalled $$12,836,068 and ex ports S$3,833,173. The chief sources of Malaya's im«" ports during the first six months were: the United Kingdom $$19,909,635 worth, Japan S$23,487,249, India 5$18,297,349, Hongkong'S$6,679,789, Italy S$2,- 381,077 and France $$599,934.

The main Malayan re-export

word:

Sarawak figures

£$3,905,509, North

8$1,083,085,

150-145 870,864,

Indonesia £$5,- Burma 8$1,043,051 101-1 Brunei, Mauritius and Slam ales bought considerable quantities from Malaya.

1881

1201

JAPB DOMINATE

New York Sugar Market

New York. Nov, 21. World No. 4 ·gugar, Kulures clowed today unchanged to

1 point lower with sales of poo

contract.

Japanese textiles gre now

Domestic No, mugar futures dominating the market and olceed. I point lower to 2 pointa British goods have lost a lot of hither with sales of 16 con 2804-381 ground. Jadian

textiles have to remained quiet,

2801 2889-28 Laken the second place and are 2041

growing in popularity.

120-142

$14.00

United Press.

The traditional re-exporta to Indonesia have virtually ceased except on a barter haals. In doncala recently clamped down on the black market trading |

LONDON STOCK Import

MARKET

closed

London, Nov. 28, 101 2.51 buyers 1.23 buyers

London stock prices ****w-221 buyum today as follows:

1.48 buyers! United Frem.

the The Soviet Navy, which Allied 300 civilian workers. In the officials • consider the second recent manoeuvres in Germany Largest in the world, has 300- a whole dividon was dispersed ained their rank as the leading closed today in guilders per these forces, 850 submarine, most of them in four hours an achievement Philippino export to Japan: there are those of the Eastern the Schnorkel bypt, capable which Allled officials regard as $11,310,000 for 220,814 metrld No.

one was next with | No. 2 rubber European Peoples Democrneles of crossing the Atlantic, under showing promise, though not yet 13,274,500 and 068,606, merle No. 3 rubber estimated to about 80 water. She also has between mufficiently rapid. j divisions ond recently equipped 10 and 20 cruisers.

Allied officinis consider they tons, Abaca, ongs the loading No. 1. prape with Soviet arms and equip.

have addressonably accurate export to Japan, forme a poor of third will $3,190,000 and 11,173 knowledge of the torta Soviet forces and this know-metrie tons, Lodge, they

ment.

In the event of war,

the

North Atlantic Treaty Organisa-

Icebound Ports

to Japan Markets Closed Abaca ex during the Arst

their confidence in the North rouched a penic

tion could line up 47 divisiong But, the offeinis stress, to Atlantle Treaty Organisationys helpt 1958 both in quantity and at once. But Allied Hendquar befective these vessels would engl. But, they add, the obe valuridemple, selling petoo tern offlefnis believe that tho have to get out into the | Ate Jeet of the Nort Atlantic with 15,

Wast, with amalier distances to anflo Abrough

the Skagerak Treaty Organisationinta talvea 15,067.000,7% LETHA Wred

cover and a clole network of or North thay deterrent town come owner th communications, couk mobilissful enbound mit Kinek yurt they na si ban

additional troops faster thank the thing would be HINNAT

Boviet Union,

the Bumiane sucoseded is Cape Mall: SoeCIAL FOR

This

Both mancata ond.featureless. perxiing new

market dev Futuros clowing: Contract No. 4 (world)

Chrome-brand in Spot-(benta per ib. yOB

Djakarta

sk of

of the market further restrict dealing

Catil

Singapore and Indonesia sepent far through barter

trada

much

re-export 90-11/1 going on with Hongkong.

Becently there

from

Είναι

sandthat