1955-01-05 — Page 9

THE CHINA-MAIL, WEDNESDAY, JANUARY 5, 1955.

Page

French Prime Minister With N.A.T.O. Delegates

TRADE and COMMERCE

COMMERCE SECTION

to

M. Mendes-Frater is på tured here with Mir Foster Pulss, United States delegate NATO and Sir Anthonr Eden, UK. delegate. They met for lunch while utlending the Paris merlings of the North Atlantic Council-Express Photo,

CURRENT BOOK REVIEWS

Don't Worry If You Break The

New Year Resolution

By tradition, the New Year is a Time for making good resolutions to conquer bad habits.

Some people with a long list of things they will or will not do in future

start

!

yu buy buen fall te NOVE and take it easy. but haven't discover how or feel thank Mode Fiumetice won't permit it

Then they is the problem of theone who do not get on with

other peuple

This, says My Henry Clay Landgren, Ausente Projetur of and have Psychology

Sem Praticisms is bermuse they abandoned the unequali State College,

de not understand Theinselves

understanding other go hand in

struggle long before For understanding meself January is out.

Other

Get, slep

bond.

Today," be

yem to year

with new inereo-angly short t

set ever In

aything of all

kedataĺ Bang 1

For use whey wish to

1955. JULIAN

Stotter Theat

Me

J

41%

fur

WIDE

Ieracity. kwecogit ku ante nen back to robust health at

ity

Levith Camp

New York *tute.

Brake

relax Foro Kapw

Jaw trufy to relax and

..

To live

1.

.

A

اره

看!

bonk “itele mud kargo Greatdisin dan Zugiant by 15. & Co. 30% 68.

19 New

York by Prentice-1 fall fama, ha explanes to his renders Bust only how to relax but how daxAU- thm can help thent in every- day life.

Take New Year

for example.

11>

"Have you

resolution,

wondered

why it is that you so often full

keep your New Year's resolu

henk. Perhaps you be- hove thought that it wiN

We

emse you · lacked will power. If to, you can take heart,

resolutions do not ful because of lack of wili power.

+

In our

"The trouble is not that we have no will power,

but that

af

Hever

1

Its the bretons wondel, we neeth to lemn how be |

Firs

? •

**

he Shy, bade metro b) Ben he *** plains how anze worm to apply. them.

"Good fielding." be declares Caphatically,

matches, Never forget it

And be col- Pludes with the Warning. "Whether the cricketer

Wat A fume or enjoyment, hard work is the only way to nelieve it 1' is certainly the only way better cricket.

Tor

live together its peace to College" opened its doors, pick

operation There

NEW YORK STOCK MARKET

Studied Buying Differs

From

Mad

Scramble Of 1929

ANNUAL REVIEW

By ELMER WALZER

#

New York, Jan, 4.

Stocks surged ahead in 1954, far beyond the heights scaled in the previous record year of 1929, a quarter century ago when all America speculated wildly and nearly achieved fabulous riches.

of 1929.

This big bull market of 1954 lacked the warmth of its predecessor Its participants were experienced investors contrasted with the little fellows who bought and sold on tips and operated on shoe-string capital.

World Cotton previous

Markets

New York, Jan. 4.

Bigger Margin

Required

Washington, Juin 4.

The Federal Reserva Board valanp mined the amount of .cash an biventar must put up

buying storks in a new regulation, which 19 effective im priately. Persona buying stock must put up at least 0 per cent of the total purchase price in eark,

For the most 11 nichts. Cr minimura down

Payment---or

NEW YORK

STOCK

MARKET

New York, Jan. 4. Wall Street showed its Gen- disappointment with

eral Molers announcement. of plans to offer new com- joon shares to holders today but the reaction turned than

out to be less sever marght-las

expected.

been fixed at 30 per echt.

The tighten of margin requirements presumably

was designed to slow the arvent spectacular rise lu stuck prices which are now at 1929.—United Press

HONGKONG STOCK EXCHANGE

(From Our Correspondent)

on the Hong-

Traders bid yesterday's market up sharply in anticipa- tion of a stock split in G. M. Motors elf gained 7 points while Du Pont, is hurgest stock- holder, rose 4.

When the guess turned out to be a wrong one, selling was the rufe for Lotus, Prices slumped sharply in a market which run Lates far more than half of the test Two hours.

General Motors lost 0 points # 16,000-shore opening. Du Pont fell 34. Qber leaders followed suit with Bethlehem Steel down 3 points, U.S. Steel

FRESH BUYING

After

the initial disappoint-

prices started up from the lows and fresh buying demand ap- peared for some groups, such as the televisions, which have not participated to a great extent in the vent advance.

Only the clerks :: Wat! Their buying was mostly for Sircel cheered when the indus- cash instead of on a tiny murgin. trial average

the crossed

Rising prices set in after the record high set on fist had been hammered down Sept. 3, 1929, and these shares on S Sept 14, 1952

# The market went on to hitherto unexplored men they and

aber markeL reitory in the stratosphere. The was lu the offing. They missedă investors maintain their aplomb. gain by a mile.

Business done They inisstel

keng Stock Exclunge this mora- jagain and again in predictions Those who bought and sold in on an investiment market thattok amounged to $987,067. Noonment wore off, however, most Colten prices dropped as much : the 1054 market carefully Lapparently knew

quefalBas no turning,

auf the morning's an $105 à bale today in artive, studied all the issues and bought ! The politically minded missed

transnetious: only those stocks with good mighilly at election time when

SHARES BUYERS SELLERS SALEN The market trade-o within a earnings records, high dividend They sold the

Driver Mart. W fange murd of the day, I payments.

favourable pr

(27 Democratic victory. The

BANKS Talkin and growth prospects. Che tip- market ignored politics and in HK Bank Jau dation nvar the close happy boys of 1929 let their Novemb

red the best dipped most contracts to the emotions guide their purchases. ri for that month in the 182-

East Asia lows for the day.

The Stock Ex- year tory of

INSURANCES INVESTMENT MARKET

elmag

Here is exactly what hap investment

Trading in stocks re- market-investment by Indivi- pened:

high for

any duals, by investment funds, by Ristered a new day.

Hifice 1933. universities, by trust-funds, by year

Industrial Klock pension

funds. by Insurance

reached a record high. Rall shares set a new high sinee banks and by other Institutions.

bali FREUN

At the close, prices ruled 8 to 21 points lower, opened 1 to 3 Hower New Orleans inished 8 to 20 lower

Early in the

from California and Jiressure Irrigational sections of the west,

selling

This

WAN

INT

would fall

in the form of hedges, gradually companies. by trinn funds, by age and utilities since 1931. The

lled standing milf limits.

Trading volumes and open interests in the Exchange today

A hundred years ago--10

Ortuber 31, 1804 previse unt the London "Warking Men's

bt

Were htonb

A

Yatim 34.800

MAY

within a week had enrolled 120

July

21 J 21.300

Open latereat

14.400 1,140,000

000,XT

Du

21

wud

May

рожа

Total

is an urgent ! students. necessity for us to learn: who.

This enterpride, conceiver we and tor orighbour. conve

what forge the mood of plulan:bropy way we do.

self-help typleaf of the period. is now celebrating its centenary in the building in Crowndale Read, North London. which it

TIÊ conditions 1 Our lives Jasmate

sound Bantal health kind happiness, and what forlors Bre potential sooTES

unbaræe and desque sunt

To "How to fadrestund Your- self an Other people", he tell

to da just that

you how

making an attempt to conceal thes

fact that the task is dimonit, teddous. and suntz painful

even

"Hal," he addeds, the rewar for teens

In this task le m the feel of freedom, than to lease from some of the cripplin ! effects of atrately, the increasing depth and mehrss of experi

which results from more salys- factory reintions with others **

This book, also.

has occupied store 19095.

The history leets many puss €1 relationshipe through

England be p century This 1

105,400

102,000

$7.000

02.001

4:00 2,382.000 bales NEW YORK

Prices of futures elosed today as follows:

Spol

Ou College

Mar

Miny

July

whic'

U

<><

Dec

โช

during clearly brought comun, toerative volun

The History of the Working Men's College which has been published in coniicetion with the 1831- Centenary celebrationis ledge and Kegan Paul—183).

The writer of the books, Mr P. C. prisch, Itetur int adult clucation in the Univer.

enre, and the greater happily of Leeds, traces three mem periods in the life of the College. es published

Fast Lontion

w..X the foundation, Inspired by that Christian

marked Socialism whileh

by Rider & Company, (128 00

For wives who want to help their husbands to puccess-and what

wife does nut?--Mrs Das

mari who Carnegie, wife of the wrote "How to win friends and influence people".

has provider! and practical a comprehensive

in "How to Hulle

Relp You Husband Get Ahead? (publishe by World's Work Ltd," w cod, Surrey-103 8.1).

the

Tiberal humanitarian Impulse of Vietorian leisured class.

unty

In the me|- From the 11, the Cellige had close

nks with the University Cambridge. Five of the right Founders were Cambridge 2, and betweĽU 1054 and 1873, come 30 Cambridge gratuntes Kingse

erved as teachers or lecturers at the College, and of thea: 20 were from Trinity College.

Here wives will flnd advies on

how to deal with any situation that may arise. Here are specl-

he

concrete and eagy techniquca enlculated to help any man the ladder of succesA, be executive, employee, boker or the proverbial candle- stick-malter.

There are also len rules to follow if you want to get your husband red-or, falling that, to "worry him inte nervous breakdown."

Next, from about 1880 to the turn of the century, the Cullere

under cume

the influener

NEW ORLEANS

35 (90

4 33-06

34 14-01-

34 29-35 04

T

3.

World Rubber

Markets

blue vizito led the

uptumn Įsibeis, ulis, chemicals,

aircrafts, selected rails, airlines, building shares and tyres. There were furries of strength

in theatres textiles sugars, mercantiles, con laxues, gloss, stocks, earth moving machinery' ninkers, and televisions

AND WHY? Singapore, Jan. 4

da the stock Why

market The rubber market opened rise? There were two nut-

overseas slanting steatter

on better

reasons, namely, easy evices and some buying orders | money which brought band Later il end un selling and yields down and made storks ot- profit-taking with teaders very tractive, and lower taxes which cautious. There was only de haped keep corporate curnings factory interest,

Fure elesings were

Prices of futures clogeil Woday No 1 rubber per li as follows

Spol

Mar

July

Oct

Dee

Mar

Miny

LIVERPOOL

#p

1

and dividends

a record high.

As the institutions took stock for their persfolios, the supply of good stocks became smaller and there was scramble to get them. The stock market became the real investment centre supplant- Ing bonds, real estate and other 101-1025 ventures.

31.10

34.07

34.07

No rubber ner i ho No. 3

33.00-01

No. 4

34.99

Spol rubber unlisted

14.03

Blankel repe

Javor 107-109 For Mar onquoted

97-9744 1917-81 32-04 575-972 11-32

35.17

No. 1 vale crepe

33.15

NEW YORK

Colton closings, in pence per Ib.. American inidding 15/10 inch, were as follows:

Mor/Apr

May/June

July/Aug

Oct/Nov

Dec./an

33.31 35.24

How long can this go on? The

experts who sludy markets Futures closed today 130 to hold that there are no exceSSÉS 160 points lower with sales of in the market. 289 contracla.

recent

Profit-taking was attracted by advances which carried prices to 24-year highs. Some local selling was attributed lower Singapore and London 32.01 cables.

32.71 Ofelul values for spot cottons Include:

to

American midding 15/110H

tneh American S. & middling th

mrh Mesienu mkidding 1-1/32nⱭ

Inch San rober-gianed No. 2 Syrian aw-finned No. 1

SAO PAULO

29.81

14.ม 31.73 33.25

Spot No. 1 Rax was quoted at 32% cents. Future closings:

March May July

32.90 32.00

21.40

September December

31.00

G

Mar.

30 60

01.07

LONDON

23.36

34,10

market

Was easy with

Futures closings, in curzelres per kilo were as follows:

Jan

of

MT.

May July

Dr.

Singapore

The

31% -3% 30%-30 2011-28

Oct/Dec.

21-2

Genersi markein, cif basis, par Jan, Feb. Mar.

21

They bok for further advances with perhaps some Interruption while the gains of 1954 are consolidated. Some look for a level about 80 per cent higher than at present and even then they aves the prices would ΠΟΙ

the rise in wour

reflect comparable lines with stocks.

Will there be another bust? Certainly, say the market men who study such

things, prices can go down again, but they are quick to point out that this market is very different from that of 1929 which ended in disaster.

1960 1

212 200

14... 1973 55 1980

1000 9.75}

Valen

nderwrit

105 BIO

4+ 30 973

DOCKS. ETC

K Wharf Provident 10, 15383 14 2000 H Wheelock 40 745 17.500 The

112

10

7.45

LAND, ETC

HK Hotel

115.70

71

25 23.00

2 12 2.15

18 Land

12 2HR 1:

109.71.50

22.70 2400 2.60

Really

UTILITIES

Tram Star Ports Yougat Ferry 170 171 100 170 * C. Light (0) 18.00 18,90 3400 og 18.36 Cut 18.70 18 53 2001 vi 15.30

158

1000 10,70 200 15.84 49°1803 à 40

20 10.000 36.25

42 1300 2 41 79

13

Electr

30,79 Bingan Elec Telephono 0574

INDUSTRIALS

Cetnam Rope STORES, ETC

Dairy

Wation

41 20

L

COSTONS

Textile Corp., 5.73 Many Ros

MISCELLANEOUS

4000 1000

0.33

Rs 21.30 24.00 1000 v 24,90 22.

*16* 17.70 Crawford

}

02 10

27.20

Trading continued heavy on the rally and volume for the day or 1,420,000 shares WRA only yesterday's

| alightly

below

| 4,670,000-shore total.

The markel was the broadest on record, calling out a total of 1.277 issues. Of these 800 wen lower, 428 higher. There were no new lows, however, whilo 119 stocks turned new highs.

General Electric was the big upside feature with a gain of 144 points to 50 in the day's best turnover.

Television stocks had goodi gains.

Western Union climbed

points.

its

General Motors pared opening loss to 43% point, closing. at $100. Du Pont Anished. only 1 points lower at $170 4.

Steels closed above their lows" but with some substantial losses, *nevertheless. Bethlehem was 42% at $100, U.S." Steel 115 at $735.

The N.Y. Stock market Lond volume was $5,010,000, and this American Stock market W(9

4.75 1,200,000 shares.

DOW JONES AVERAGES Dow-Jones closing averages on Yanglade 0.03 0.10 1000 0.10 Wall Street 1oday

follows:

Chicago Grain »

Prices

Chicago, Jan. 4. Prices per bushel'in cents; Wheat, No. 3, red

Spol

May

Sept,

Closing prices

235 an Mor. 231700) 22{(1) 233-1

20-220 21876 21721

Corn, No. 2, yellow'

Spat

1573

180-%

100-109)

10015- 100-10011

12224-12 1233-15

70*6-12

CASH MABKET This market is practically aer cash one against an extended' May credit one in 1929. This market July is based on investment, that one Rye Sept. Today there Mar. on speculations

are laws against market rigging May and other excesses which pinyed als a part in the 1920 market. Mer. There is

Securities #1

and

15-22 Exchange Commission which is Soybeans, No. 2, yellow

sed to police the market. 2812-281 supposed Eatnto crepy thick Jan. 20- The Federal Reserve System Is Spot

thin Jan 30

sald

to have the credit faucet, Mar. under border control, ready to Kiny AMSTERDAM

Turn it off ar on as the need July

We use 11 Ineffectively. an dfreel

into The wrote:

P George Tansley, by trade a re- channels,

freshment caterer for the parties doctor, Too great effort, he explains,

of fashionable society,

the United States, the spot being marked up 1/16th to increased produces

tension

polities a radical, and by in- average price of 15/16 middling 31-7/16 pence per lb. Prices. which in turn usually breeds

elination an enthusiastic educa colton at 10, designated spot

No. 1 spot Ras discouragement and failure. So

tlonist. From being a student at markets was 34.11 cents. Sales | Settlement house term: "make all the plons you want.

the

ho College

became D at there centres totalled: 33,783 Yeb. But do not try to corry

Mar reorganized teacher and Anally

baler, -Unitoḍ. Press.

Apr/June. out your plans until the time

the curriculum putting emphasis

July/Sept. comes when you can do some-

on the educative value of While Mrs Carnegie does not studies rather than thing specific about them.

their re- lax and do your living in the guarantes that by following her levance to social reform. present.

rules a woman will help. her The next phaso, from 1902 to "Relaxation helps you forget | husband to become a millionaire, the First World War, might be old habit patterns. You can she assures her renders of this: called the struggle for inde- then really turn over

"that any woman who applies pondence. Adult education was 1 new leaf,!

these

principles intelligently falling increasingly under public All of which adds up to the and judiciously, will have re-control, and few of the Inde advice: if you decide to give up moved many of the barriers pendent institutions could resist samathing, like smoking, for that keep men low on the the offer of nid from national or.

ludder." example, do it a day at a time.

local funds. Do not dramatically

And not only will she have und

Thanks to generous benefac- heroically try to give it up for sel her husband on the rond lotions, the College, was able to ever and for ever" on New material success. She will also pay its way and keep its in- Year's Day or any other day of have founded a happier and dividuality. the year.

mare successful marriage,

Finally, ‚'in the last ten years, Those whose responsibility it the College has had to face the riser This book," the author says, "has been written for YOU to train the rising generation challenge of a new attitude to of cricketers, potential members social democracy, Mr Harrison

teams upon whom will

if

οι

"you would like to learn the art of living without strain; eventually fail the task of try sums up the situation as follow:

"you would like to meet life without a seitse of pocksure, hurry and worry;

"you are perpetually 'all' tired

The centenary of the College ing to capture or defend the famous Asher, would perhaps do falls at the end of a decade of well to take at once the advice greater than any since the curly profound social change, perlips me of Britain'e nading days of the industrial revolu- tion, It is still too early to celimate the full significance of those changes, fon we ride with our backs to the engine, But the

out and don't know why; you tricket coaches, Alf Gover.

do not sloep well;

of

....

J

living:

"you have lost yox

ses for

"you are the "? "you"

Attack is the, kaynote of his

geting the best out of yourself i Tanah Betlee Criccate(pube | Calinga la clans, wamely adaptam

physically? rpentally

or lished by Frederick Müler Lid tion to this new environment.

Ching Mai BDICAL A

Stock Market

1

Sept.

Barley,

Spot

The market was uncertain.may arise to stem a wild rise or Nov. Singapore, Jan. 5,

Prices closed today in guilders slow a sharp decline.. Brokers today quolod the fol-per kilogram, CIF January as lowing stock prices:

follows: Jan 4 Jan. 5

No. 1 rubber Closing Opening British Borneo Petro-

No. 2 rubber 31/2 No. Town Syndicate

rubber 33/3 Consolidated

Tin Smelters, Ordina 277 27/03

→ILMIO

Cupi.

$0.00 $0.00

?

and NEAVO Lid., Ordinary tanio $1.07 81.97

c and - Neave 213, 7155 pret Tiếngkong Bunnghal Bak Corporation

(Colonial Register) $1,040 $1,040, fames Stotel Malnynn Breweries 24 Bapore Cold "South | Bellin

Strana Trading a suglie, sparship "Uiled Engineers,

Tordiner Wairiez trg Tentongs

Storage

Petaling

to, 1 crepo

40 nom,

The only thing that in't dif tent today, say the selrs of

·Street, is man. · He still

changes. New York flour 2.70 nom, subject to emotional 2.77, mont. While the 1954 operations ap

200 lb. sack 2.00 m peared to be those of automa- United Pros

because of their declaim,

London Foreign

Exchange

they still were engineered by

i

men-men whose behaviour

202

23304-3

30 Industrials

20 rot

15 utilities

05 took 40 bonda

wero as

Comm. future price index.

408.17

148,80

United Press.

New York Sugar Market

New York, Jan. 4.

- World No. 4 sugar. futures closed today one point higher to one point lower with sales of 60 contracts,

Domestie No. 6 sugar futures closed 2 to 5 points higher with snica of 181 contracts.

Light trade buying held workti futures stendy with raws quoted abpur 3,17 cents a pound, fob.

Trado and commission house advances dominated in activa dealings

Future closings were:

ntract 1

No. 4 (World)

247-24715

Mar

May

July

Sept.

130-1527

Spot (cents per lb. fol

$14.000

Cuba) [2.17

Contres No,

itád Press.

May

July

Nov.

sais still to be as unpredictable New York Foreign

ne it was in 1020, in 1792 when

the

exchange vas started, and

back in Biblical days when

Joseph corntree the. Whent

In Egypt

market.In

Because men.

Canada

make this Erazgland market, the andivala point out

Exchange

New York,

58109.19739.

30-day futurpe

that, sny.csuddan, "unexpected Cenaction doller rate) bad news at httneyor inbroadshot stora

| Unble would go would depahu 2 0 Town

'on' the type of, the newt. Noni Faturg1 2010

Tof this typálla Maroner in the) Limmediate future. Unitedir.

Sept

Bout-(bente per ib. eit NY

ox-duty) 8.45 --United, Press,

Exchange Rates