World's
Population Increasing
New York, Feb. 27:
The population of the world increased from 2,455 million 10 2,647 million between 1950 and 1953, United Nations statisti cians reckoned today.
Norwegian girls are likely to live longer than the women of any other country.
The
Most crowded place in world is the Riviera pocket state of Monaco famed for Monte Carlo and its gambling inbles-- which packs its 20,200 people into an area of less than one square kilometre.
Burmo has the armusi liighest Death rate-33.5 for WET 1,000 of its people.
The Repute of Ireland The world's best fet country
with
2,500 calories per head, by Flable every day. Ina (1 1963) was 10 hungriest with only 1,890 calories a day for the average inhabitant,
These and thousands of other facis a drean for the kind of coverationalist who like to import Interesting knowledge--- fre contained in the United Nallona Statistical Year Book publisheet stay The infuzia - Bob applies mainly to the year 1953
Other fullowing
stolstice merludes Ther
Population →→ Average density of the world's population is 10 people for each square kilometre, Second most crowded spot after Monaro is Marno. At the other end of the wale many places average barely
10 one person the muare kilometre. These in- clude Australia, Canada, Ireland and Liby
In Norway baby girls have an expectation of life of 72.65 years with Americans, New Zealand- English, Sweetes
LTS.
Canadiens close behind in that But coloured girls in the a life ex- 03.7 years white
order. United States have pectancy of only against 72.6 years for American women.
Boys nearly everywhere In the world can export a shorter life thaz girls by hour or five
YEDER.
اده
In 1953 world Industrial pro- duction (not including Russie, Eastern Europe and China) was about twice as great us in the
year
1929, Nearly twice as much freight was haul- nd on the world's railways us
and 1929
over 40 per cent goods were carried oth
27
moro
the world's shipa
Of the 1953 world production (excluding Russia) the Unite States necounted for 49 per cent of the raw cotton, 30 per cent of
53
cent crude per petroleum, 32 per cent crude steel, 46 per cent electric energy and 73 ptr cart motor vhicles.
Western German and Japanese recovery is shown by the fact that between 1948 and 1963 in- instrial production rose by about 150 per cent in both coun- tries.
World cigarette production In 1953 was double the
prewar output. There was 12 per cent more beer than in 1940) -China Muli Special.
Commission
To Inspect
Air Bases
In Korea
Panmunjom. Feb. 27.
Le lic
D.
Major-General Carter, Senter United Nations Command member of the Kore Military Armistice whs officially informed today
that
Commission.
Nations'
had
THE CHINA; MAIL, MONDAY, FEBRUARY 28, 1955.
TRADE
and
COMMERCE SECTION
Pago
THE CHANCELLOR'S STICK Bombshell Hits
Unintended N.Y. STOCK Might Have
MARKET
REVIEW
Effect Of Bludgeon
By Elmer Walzor BANK RATE INCREASE SHOCK
New York, Feb. 27.
Rachoad shares duplicated their feat of a week ago and suldid more than a point to their average price while in- do trial stucks declined mere than 2 points.
From Ronald Boxall
London, Feb. 28.
Even those who don't like his methods must agree that Mr R. A. Butler, the Chancellor of the Exchequer, is a man of exceptional courage. He doesn't wait for adversity to strike but tackles it half way--and with weapons that the Volume for the market in the ordinary man finds it difficult to understand and therefore
mistrusts.
The rail gan pluz a sinail re for ablilies left the market just about where it ended a week ago
the genern) average
Banmary-February prior will fred a new high to any such time
17: 1921 exempl
The
VIN
The Mr Butler needed all his courage last week. Mastiza matker influenco the Lamina stock market measure he announced would have been unpopular with a which had been in a decline as
large section of the public even at a time of obvious crisis. Traders antavipated a rise in the Bank of England discount rate
was evident on a scale that would seem to But no crisis They did not forese; a rise of u
Jatht
when the rate was justify such drastic use of the Chancellor's stick. from 3% per cent.
It is to Mr Butler's credit that he did not wait for the crisis to cent
York
become obvious. He could have delayed his measures at least until the February gold and dollar figures, due in a few days' time, revealed the gravity of the situation.
bousteri
to
11
4 per New
stocks had psychological reaction to Live London break and many traders
gothe anticipated
new credit
urts here.
סון
TAXATION New York market
experts anticipated
TW crixlit tightening here at least before corporations pay their income taxes next month That opern-
L expected to drain
the money market for a time.
Jevelopments against the New York market were a wide break in grains and other with the futures commodities comunodity Index falling to
Olberr
Ja
new low since December of 1953,
LEIPZIG
SPRING
FAIR
Leipzig, Feb. 27, British businessmen
INFLATION
In a word, inflation.
At home Britain is consuming at a faster rate than she is pro ducing. Abrond she is buying
1 a
a faster rule selling,
than
she
To remedy this Mr Buller for the raised the bank rule
a month. second time in within att 4 per cent it is now higher vver 20 re-
and acveral days of weakness in the Leipzig Spring Fair than it has been for United
Stotes
There
were some
bunds,
East
German,
All London
Lurmese Trade Stock Markets
Agreement
Berlin, Feb. 27.
A long-term trade AgrTO-
between- Etus
ment
Ger-
WRS
many and Etum signed at the Leipzig Fair, the Kast German ADN Nows Agency announced
today. Burma will exchange rios
Germa chinery
for
and equipament under a protopol signed st the same time.
U) Thakin Tin, Minister for Burst Nationalisation, alrned
for Burma and Herr Kurt Gregor, Beort- tary of State and Acting Minister for Foreign Trade, for East Germany.
The lơng-term agreement will provide for the fol- lowing Barmene goods to be sent to East Germany: spices, cotton, rubber, vegetable
oils,
Kliver, wolfram. eij onkey and other agricultural produce.
Burma will
WHI receive optica!
Instrumenta, ma- chine tools and other pro- ducts, The Burmese deja- ration
WILM received by Otto Grotewubl, the Eart German Fremier, on tho occasion of the opening of the Fair-France-Presse,
HONGKONG
STOCK EXCHANGE
From Our Own Correspondent
London, Feb. 28.
If the rise in the bank rate four weeks ago made little impression оп the London stock markets, last week's rise hit them like a bomb. shell.
The first rise of half per cent-at the end of January caused only a moment's hesitation before prices resumed their climb. A week later the Financial Times industrial share index reached its all-time peak of 197.5.
опо
755;
in
But then # fortnight
In the stores section Great January overseas trade. Agures Universal Stores dropped 10s to revealed £73 million gap bo- 43s 9 and Marks and Spenters tween imports and exports and 6s 3t to 03s 6d; in motors Fords this. Taken together with other were down 4s 36 to 75% Od and alms of incipient Inflation, led Rolls Royce da de to to fears of further action to curb aircrafts Hawker Siddeley lost credit and caused the first real is to 40s: in shipping P. and break in prices since the share O. deferred dipped 7s to 675. boom began nearly two years
The list contained dozens of ago.
similar
the combined losses. Buyera withdrow from the effect of which was to
bring markets to wait the expected the industrial share index down rise in the bank rate-second to 177, a fall of soven points on half per cent" as, it was called. the day and nine points sinco Prices were marked down the previous week's close. sharply and although there was
The commodity share markets no heavy selling the industrial shared the same share index lost 10 points to perience. 188.1 and gilt-edged dropped
2.37 to 98.77.
NO CHANGE
general
SOME RELIEF
butas more courageous
four
ex-
The week passed without any Friday brought some relief investors rate, change in the bank prices went on falling until last began to snap up shares at bar-
advances Tuesday when the industrial goin prices and
of WETO share index closed at 178.8 and three or
shillings the gilt-edged index at 99.47. fairly common. Glit-edged, too, Then on Wednesday buyers Floged a rally and gains of up suddenly returned to the market to £2 were made, and industrials shot up with starting speed, On
tant
day the Index regninød live points, thus
What is the experts' verdict now that the
excitement is
winning back In a few over?
hours more
than a quarter of
also edged
One City man thought it was
What was it then that Mr Jon the external value of the Butier saw that made iramediate pound. And this aggravates the situation in a number of ways, Bellon Imperative?
two of which have become all tco obvious in recent weeks,
In the first place the British authorities have had to dip quite deeply into the gold reserves to buy back some of the surplus pounds on the foreign exchange markets and thus prevent the price of sterling from falling below its lower limit of 2.78 dollars.
Secondly the price of transfer-
the ground they had lost in the like having a tooth pulled. It ble
sterling-which
the
was painful at first but then you Variety most
inter- used in
(From Our Correspondent) previous ten days.
Glit
Improved felt better. And he reimposed years, Government which opened today said strictions on hire purchase.
national trade—had fallen so low
firflingly.
But the most widely
heard that foreign businessmen
were that so far they had been
Business done on the Hong- Those who had predicted the comment was "now at least the His object is quite clear. adverso
able to Indulge In
are kons what
Stock Exchange this end of the share boom began to worst la known." dividend netions which affected unable to
the pro- is to force up the interest rate known as shunting" operations. morning amounted to $451,848.- have second thoughts, gauge
But then The rise of one per cent in Individual stocks, but opposing spects of trade
with throughout the economic system. This means that they have been 70. Noon quotations and
the the camo Thursday and and thus make it more expen able to buy sterling commodities morning's transactions:
bank: the bank rate-taking it to its tils
W09 an array of highly Eastern countries.
sive to borrow money for pure with
rate shock.
highest level for over 20 years favourable carnings statements
The market's reaction to tho has removed uncertainty. from America of chase row records
One for such companies 83
British
4 per cent bank rate was im- markets' worst enemy. representative American Telephone,
the General said that many British business-abroad and cars, television sels
mediate and dramatic.
Among
Already it in being said that Westinghouse Electric. Electric,
men regard the Fair
other "durable
In the
consumer Convert
gült-edged Wor Loon 3 per the next change will be down- Latter Pounds at Du Pont, and necessary piece of window dis- Eastman Koduits,
on the official rate.
cent plummeted £4 to £80 10s | ward and on this cautiously he has not been content to Douglas
SERIOUS EFFECT play. Aircraft. A long list of
note and Savings 3 per cent 1970-88 optimistic wait for the upward pressure others had substantial gains.
These two factors were having
dropped £3 to £80, These and closed for the week-end. of interest rafes to work its way a serious effect on the sterling
other losses, ranging to £4 and through to hire purchase deals
arca's doilar position - how
more, caused a fall in the Gov- which might not happen for a
serious will be seen when the
ernment securities Index of 3.23 Bas long time. if at allbut
February figures are published.
to 90.47. taken the extra precaution
And quite clearly something had reimposing restriction on to be done about it. terms of such facilities.
But Mr Butler does not want
Also there were many divi- dend increases, including Du Port, Curtis Wright, Lonc Star Cement, International Sult, Hercules Powder, and National Cart Register. -United Press
REPORT ON ASIAN INDUSTRY
Bangkok, Feb. 27.
The group, which toured southern Japan in April and May 1954, came to the conclu- ston that Japanese
change
production
of
a at home.
Cose
materials
AIR
the
sell them
In
for dollars and then SHARES BUYERS BELLERS SALES
pounds,
dollars back into substantial discount
INSURANCES
Union.... Lombard 4912 Underwriters 10.50
Waterboat 30.40
In the event Mr Butler de- ekded to do three things
He
3111PPING
DOCKS, ETC. K. Wharf
70 Provider (U) 15.70
Fy said it was only one phase In East-West Grade. but im- portant since it was a unique meeting place.
Almost fly British Arms are represented, including the Brush group, Thomas Firth and John Brown Limited, Armstrong With- to cut down home consumption raised the bank rate by one per LAND, ETC. worth, Massey Farris Ferguson for its
anke. I 15 the Own
cent and reimposed restrictions Limited and Standard Motors. effect that lower consumption on hire burchase both designed takes should have on Britain's balance to cut down home consumption The Soviet pavilion
Fair of international paymentsand and at one remove, discourage pride of place C Me
on the external status of imports and stimulate exports. grounds. ITL its main
hall thus
And he
In the announces that sculpture of the pound--that he is
future the Exchange Equalisa- A boom that gets out of hand, tion Fund the authority that as Britain's ems to have done, operates in the foreign exc
exchange has two immediate effects
'within on markets--to keep sterling'
n
stomis
large Lenin and Stalin.
The main stem in the pavilon s giant tipping lorry with a loading capacity of 25
for
400
to
achieve.
foster
of
striving
pace and of coNGUMENT
were
In-
The effect of this move
reserves..
These
ben
menstires
ADO # 7015.
10
10.70
3018
500 15.00
400 or 10
0.93 7.05 1700 7
Wheelock
HK Hotel 10,30 16,50 3000 4o LOIR
3000 10.40 051 07
23.00 100 g 2315
2
11K Land Humphreys Realty
UTILITIES
Tram
Yaumat
Perry
31 21.30
128
C. Light (0) 17.20 17:30 1500
C. LIGA (N) 1414.30
Klection XD
Telephone
STORES. ETC.
17:30
33 33% 2160 qr 354% 31 100 314
1300 31
Dairy ....... 21.90 22.30 500 22,20 1000 or 22.10
GOD 22 (N) 2015
125
201
0.44
4.20
3000 4,231
Singapore
have been generally welcomed Stock Market
Singapore, Feb, 28. Brokers today quoted to fol-
the country's overseas trade. Bits defined price range-would A report of a study group The tip takes 30 seconds. Much
attracts more imports of row widen its activities to the trans- of small scale industry ex- of the olher Soviet machinery 20 perts on their visit to Japan which dominates the pavilion is materials to keep the wheels offerable sterling moricets.
land clearance and road d
Industry turning at an even
THE EFFECT published in Bangkok by the
building. Economic Commission for The Chinese pavilion with goods to satisfy a moving de came immediately apparent for Asia and the Far Eust, com-over 2,000 exhibits, also shows mand for foreign luxuries. And within a few hours transferable
diverts consumer goods from sterling pounds #t
rose sharply COTTONS mends to the rest of Asia machinery, less impressive but the export trade to the home from 2.72 to more than 2.76 Textile Corp
pome cases better finished than many aspects of small scale the Soviet article. Also on dia- market.
dollars. The gap between this MISCELLANEOUS This
has is in fact what has been and the ometal cate
thus Allied industry in Japan.
play ore pottery, silks, carpets, happening; but the serioumess already been appreciably
nar- ebjets d'art, and sporting goods.
the situation was not re-rowed and with it the scope for INCREASE TRADE
cognised until the January over- shunting operations and other stas trade figures
pub-financial deals involving “cheap”” Easy Germany hopes, as a lished a fortnight ago.
that harm the central pounds increase techniques in minor industry result of the Fair, "could be
JANUARY FIGURES with non-Communist adopted with ad-trade
economic other vantage in
countries of countries by 30 per cent over
These showed that compared the region with any necessary last
year, reaching a volume of
million marks
(about 37 with the previous January ex-in business and financial circles million sterling).
ports rose by $40 million to £24g where they, are understood and properly appreciated. But the million, but that imperts
watched an- situation will be She is ready to import mw
creased even more by £60 ml-xiously over the next few weeks materials, consumer gooda finished products, according to Man to £332 million II TEM
de for there is a danger that Mrowing stock prices: exporty are included the trade Butler's stick might have the overnment spokesmen,
"gap" was £73% million as
impact of A Fair spokesman said a large against an average monthly de- unintended and
number of Indian buyers are neit of only £60
bludgeon. expected, including 20 econo-
year. Major-General Carter, in a It was emphasised, however, mists.
A trade gap of the size that The Bank Of England and Merve Lid letter dated February 21, had that
France is to attend with her opened up last January is un- these Inspections. Japanese minor industry was first official display. requested North Korea,
likely to have been filled by on February 23, organized would often be con- Total exhibition epoce this invisible exporis such had demanded the dispatch of ridered too small to be in the year is about 285,000 square
The Bank of England state= three teams to South Koren to West, comparative studies of compared with 241,000, (280,000)
earnings from overseas invest- * metres, (310,000 square yards)
ments, tourism And 60'on.
ment for the week ended Feb, Investigate alleged United
Japanese and West methods last year, Nations
To make matters worse prices 23 reade as follows: violations of the should be set up, It was also Only one fair was held last of goods that Britain Imports Notes in circulation armistice terms after rejecting suggested that Japanese exports your Starting this year there are rising faster than the prices public spot Major-General Carter's Tw be loaded to countries wishing will be two daire--one in the of her
exporter; and this quest.
to set up industries on a scale spring, the other in the autumn, imposing an additional
-Router.
on her romKALICOS. Earlier the Neutral Nations' comparable to the Japanese, Supervisory Commisaloss An- The group included experts
The result of all this is that formed. Major-General (Carter | and
Britain Insfond of 'curninga from Burma, The Bank Of France that the inspection of only Cryton, Republic ol Chiba, three of the six air bases had India, Indonesia, Japan, Korea, been approyed.
Maloya, Nopal, Pakirian, the namChina Mall Special, Philippines, Thailand and Viet-
the Neutral Supervisory Commission approved three mobile inspec- tion 102723. The teams will inspect six North Korean air base.
a strongly-worthed reply, In Major-General Carter toll the Comentarion it had no nuthority to amend: his "origina
Ho
"charged, that the long
between benigalon
of his re-
stro dispatch of
The Commision recommended the development in Aria marketing and export promotion terhalen) guidance trade A330- ciations, quality marking, rural clectrification and finance credit facilities.
the scale
omotata
on which
·Statement
million last
Statement
London, Feb. 27.
Ordinary issue
INDUSTRIALS
the
the
marketa
NO REVIEWS
The
York
industrial shoes Over in the
New Whekly market prices were slashed as Cotton Market and U.S. Textile nervous Investors hurrit to un- Market reviews wero not load their holdings.
received this morning.
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Penang, &
Feb, 28 for Singapore,
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Mar, 4 from Singapore, Mar. 4 for Robe & Yokohama. (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
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a
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British Bomeo Petroleum
Byndicata Consolidated Tin. Emelters,
Ordinary
Feb. 23
31/01
30/ht
$1.95
1731% sum, prof
$0.00
Hongkong, Shanghai Bank
||
Mainyun Breweries Raffles Hotel
Corporation (Colonia i Roger)*******
$4.00
$2.70
$1.50
In Port
花奶
Singapore: Cold Storage Bouth Britishs MisuranĽO Sterling Strakta Trading, 1,008,940.75 Bizaits Steamjaki
10.300.310 United EngiÅRETS Jue 220,744,622 Waners Bothers cet 27309,892 Hongkongkin,
68,780,171 Peteling in 19.8
With div. **United Prem,
is Private deposits.
Government securities strain other securities Hebelpis Ratio
plus of about 2200 milioni abroad, sa sho was doing lost year, is not at best bartly pay « log-ho "Way.”
Paris, fob. 27, The Bank of: Franco state-⠀⠀⠀ FOREIGN BUSINESS [ment for tha 'wick, onded
295. 17 roads as follows:
Exchange Rates Total old holding
12
Bight balance” abroad.
inspection teams had given the unencial Wychango markskortir | ACTUSOS
·Commkiniata: 203
opportunity to
Bustiers was done in the boat moyning, at the following: ritorygon 3180 dollar. (per, 81)
withdraw2MIG-jai, atronib"?lne noted (per (21)
·Milatoduoedd' since the sarniščice- from North". Kören
TydoneMas rupiah
Wheals per 100)
Bingidors (Rieuita));
depos
Such a situation.mey' pol make much of an impression on indy the man who minden fulanine [in the Midlanado que alta, MİZAD eNOS mis kui Office desic In, Londena; but Kt,
+ who do
....
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31206:
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