1955-03-03 — Page 9

►

Page

TIME WILL

TEST

ATOMIC

KNOWLEDGE

San Francisco, Mar. 2. Only time, says Dr Glenn T. Seaborg of the University of California, who WAN awarded the Nohej Prize in 1951 for his discovery of plutonium. can show whether the new atomic

THE CHINA. MAIL,. THURSDAY, MARCH 3, 1955. ·

TRADE and COMMERCE

SECTION

NEW YORK ECONOMIC CRISIS IN TURKEY

STOCK

MARKET

New York, Mar. 2. Stocka pressed forward into further high ground knowledge being, and to be, today under the end of total

prove

gond or

gained by man will for the greater evil

Fittin

<*x-

There is a vast potential aren of penertime applications which Les not been, anul in fact cummol

he So be, fully assessed, plains Only when Wi more of that perspective which

usperioder ond

adenie afford, shall we be able to say with any assurance whether this how knowledge. on balatine, more greatly serves mankind and the forces for good than i serves evil,

quality issues.

Today's advance round $3,000,000,000

me to far this value c

brought

The

work in the all listed shares sarase on the eve of a Senge In- ико the prolonged vegation

k market ric

Blue

chup dust als lps ranging in 2% pommis

ht

P

Failure Of 1954 Grain Harvest Has

Aggravated Situation

Amerie Telephone $180 economic crisis

in Eastou

Kodak selling

mi 20: There were outrace th!! the

ex divand a $73%.

Sterl Bethlehem even bigger AWD,

เละ ! m coralig

Born at Ishpeming Menge, | grthopa on April 12, 1912, the son of average Sweetlah immigrant parents, Dr Seaborg has won the te of

alchemist of the atente

الات

יונתן

To ustrials gained 347 on my age to $417.18

Has had even blazer high. perceninge gain, climbing 247 $183.32, the best lev.) siner Apel H. 1930 truths with n At rise of 027 $ 48 were their best since April 15, 1931.

IN addition to having discoverest plutonism, the nw material of

he is credited alomke

་་་་ with Bun dienvery of Americlum 95, (mum 86. Berkelium 97, and Callforakom 98, a new elements, Ife has also verts ne of the leaders to devestopunend of the

working

in The at Bavenoty

the Praversaly

Oak of Chicago, ni Hule, Tennessee and Hanford, Washington.

atom bomb,

ut

California,

ATHLETIC ACTIVITIES

He has even found time le participate in such a totally unrelated seademic setivity as representing the Univer-

California Alty member of the board which regulates athletic petivities

on the Pacifle Coast. include

ឆក

Trading was at the beat pitre

weeks nearly

wilh

Two

furOver Totalling 3,370,000 shares, compared with 2,830,000 yesterday.

NEARLY ALL GROUPS

The advance took in virtually with particular every group, emphasis on the rails,

non-ferrous

ÍN. traded, 713

+

Ankara, Mar. 2.

The failure of the 1954 grain harvest has aggravated the which Turkey is passing, and has through presented her with the necessity of importing cereals for the first time since 1951.

According to usually well informed sources here, the Turkish Government has entered into negotiations with the United States for the delivery of some 500,000 tons of grain, including about 350,000 tons of bread wheat, from America. Without these imports, these sources say, Turkey's big towns would probably go short of bread this winter.

£50,000,000 fur goods delivered

Toprak, the

(over Government, dollars

is sterling) Kruin-buying organisation, beloved 4 hold stocks of t

World Rubber 500,000 tons of wheat, but this

Markets

Singapore, Mn, 2. Lower oversens advices en- uticl The couraged further heavy liquida. 1,237 isuuestion on the rubber market loday. only There were some trade sellers were higher,

with buyers reluctant towards the cluse.

Of total

293 lower.

These

Kaiser

university football,

one of the major problems

of educators in the

United

States, beesuse of its com- ruercialisation,

Discussing

ding the future

Unse potential

energy,

LIST

helped by stock stood out 1 the Mikk of 45m

Futures:

Ku suhbet per fl Mar 14.5

Apr

Aluminium

Issues

Talk split metals with 1/10 $78% k

May

03.034

quoted

No. 2 rubber per di No. 3

Mai

03-83

NO A

Spot rubber untukęci

Blanket mepe

1124

83-84 70-77

0815-8011

common, 7 points to $100

of

pence. atomic

the preferred.

that

Clond production figures and a

future helped

Dr Seaborg sald Uranium-235 and Uranium-233 bright

fuel in mobiles.

would

be usexi

TIS

experially designed nuclear Pennsylvan3

energy machines."

num-

**There are, however, a ber of very difficult problems to solve, largely engineering in nature. before this can take place

"I will be a good many years, therefore, before energy of this with com- type will compete Ibon sources of energy such as trill. Such machines must run at high temperatures in ortier that the energy can be extracted useful fouɔn and this means will be many problems Involving materials of construc tion, carrusion, and so forth.

materials of construc- The tion must be chuten from those whose

absorptlun Autron

# there

amall and this limits the cholce | To

uncommon

coolants Adequate found and method for

-

of the reaction must be assured, "It will also be necessary for the chemists and chemical glacers to develop procedures to purify the plutonium #nd uranium und also to repurify In order that these materials the unburned fuel may be used again.

Centrat

auto-

and New York featured in activity topper only by low-priced Graham Palgte

Big mover in the vils Amierada,

84 up

points

$220 z

The New York Suck Change bound $5,380,000,

volume

No 1 pe stepe

NEW YORK

Futures today closed 34 to US points higher with sales of 200 contracts.

Prices snapped back sharply after woak start: Overnight weakness In the London-

cables brought an wa.Singapore

to early accumulation of liquida-

But

acted pressure quickly and on a rush of cover-

shorta Ex-ing by speculative

the cents and day's trast

wus

The American Stock Exchange volume was 1,400,000 shares.

Dow Jones closing

were:

30 industrinia

2 rails

Albed Chodicals Allis Chrimer American Autoes

averuķes

rallied 1 market

the closed around levels.

However, factories and other CORNUDOTS mlinaed to practise

A murket. caution in the spot

Fales IW

included May one shert of 30% cents following eents. suber 417 10 morning!

at 29, 153 July

held sheets weet

K

LI

لان

64.88 30 cents after selling earlier ut

cemis Spot

usted

2 ויאיר

al

NA 30%

R:21

cents.

3040

311 30

2014

20 00h

LONDON

20,35-30,00

་

The market was very steady. No. Has spot were quoted at

171220 pence per ib.

15

05 tersk

de bonda

substaners. be MUSL

control

Cosium, future petes index

238.83 were

Fulares:

YESTERDAY'S PRICES

Manreh

Allan inc. Acy

62214

May

July

79

Sept.

2014

Dee

Ameriena Melal

39

Mor

American SnelUng

40%

Americom Tel & Te

100

Amerlar Tubucco

00

Anaconda Cooper

5416x

Armco Steel

Armour

154

Botwin-Lima-Halton

Baltimore & Oblo

Bendix Aviation Corp.

110

No. 1 at Ro

Benguel Cons

Settlement Hou

Bethlehem Sicci

April

Bocing Airplane

03

May

Canadian Pacific Railway

2

June

Caso (J. 1.) Co.

12

April/June

Chane National Bank

00

July Sept.

Det/Dec.

of

4044 40EN

March

April

Consolidated Edison

40

May

Continental Steel

Estate crepe

jok

to

Corn Products

Estate Crepe thin

2031 251

Cuban American Sugar Curtis Wright

AMSTERDAM

223àx

1724

51%

LIMITING FACTOR "Probably the most dim- cult problem. which may well be the limiting factor in determining the extent to Win which nuclear energy

be used for industrial power, is that of disposal of the wemendous quan

radioactive waste material. "It is too goon to be able

say whether nuclear energy will be able to compete in cost with other forms of energy, such as coal. In order to be competitiva in this country, on the average, the cost will have to be of the

order of six to seven mile kilowatt hour of energy.

"There

have been

per

somo CA-

estimates by competent gineers that this will be possible, but, on the other hand, a num- ber

equally competent of engineers have expressed grove doubts.

"However, the present cost of electrical energy is greater somo areas, and in some places In the world the cost is much greater, so that nuclear energy will In any event be competitive

such situations.

In

in

"It should be emphasised that energy will be important of the eventual out- coma of the cost situation be- causo of its concentrated form and hence I possibility doing things that no other form

of

of energy can do nt any price."

Dr Seaborg said that the

Chile Copper

Chrysler Motom

Commeraal Credi

Coinmonwealth Elec.

Crane Co.

Dupont de Nemours Postman Kodak

General Electris General Fooda General Motora Glatte Balety Razor Goodrich (B. F.) Co. Goodyear Tire & Rubber Homatake Mining Co. International Business

Machines International Harvester International Nickel International Paper International Tel & Tel Johm-Manville Co. Renocolt Copper Lockheed Aircraft

Leows Incorp..... Kens Star Cement Co. Minnesota Mining.... Hortzmary Word Notional Cash Register, ""A^ National Distillers Nations Lead

New York Cerital osli Esevatorni

Paola Ga & Flectric Pacific Western Oll Pan American Airways Paramount Pictures Philips Pétrolesien Pinburgh Pinto Glass Radio. Corporation Ten MotoMa

Republle Steel Shell Ou Co. Binclair Di

Bocony · Vacuum

second major peaceful' appllen- | Southern," "Tiitway

tion of atorgie energy, would be Standart Brance

(Com)

the use of the by-product radio-thens Oll of California

neilve Bubstances

involving

Blanganj Dil of Indiang

נותנין

ער

72

19

431

over the past two years, and some comtries are prcasing for

Turkey's Inability to settle her debts is discouraging some from gronting her credits for imports of essential capital goods.

is mostly hard wheat, sultable | payment, for making macaroni and other

for PANION,

making fait not brend.

The Government has ordered | countries the proportion of hunt wheat to be mixed with soft wheat in brend-making 1 x intereste l from 20 per cent to 30 per cent, This is beginning to be re- of the flected in the quality breud.

03

STERLING FIRMING

London, Mar. 2.

Sterling WAN showing

firmness

nhend of

sterling Arda

Fold

tho and

dollar reserve figures to be issued this afterncon

In Zurich transferable rose to 2.753; after opening 2.701.

пр

while in London

on New York moved 2.76-27/32. Both

ما

marked new praks In the Oraing

Kinco movement last Thursday.-China Mail Special.

World Cotton

Markets

HONGKONG British Gold

STOCK And Dollar EXCHANGE Reserves Drop

(From Our Correspondent)

the Hong-

Business done on kong Stock Exchange

morning amounted Noon

to $913, 184. quotations and the morning's transactions: MARES DUYERS SELLERS SALES GOVT. LOANS

35 (15)

12 000 2

BANKS

East Asia XD 202

250

50

4NSURANCES

Unti

Lombard

Underwiderk

DOCKS. ATO

K What Duck

*

194 TU

Provident ende pa ng

Wheelock LAND RU

HK Intel

HK JO

Really

Tron

New York, Mar. 2. Cotton futures today staged a post-opening rally after Tuesday's drop to an UTILEDS eight-month low, then ran Inte renewed opposition,

March

phus liquidation. further selling

10 Predited Memphis interests and scale- up hedge

pelling acted as drag when prices scored galos up to 60 cents a bale,

Dealers saki buyer wariness about following the upswings continued to reflect discourage- the alow textile ir

M

1 2002 SN 5000 m 7 to

1440 15 CM CG 67

7

London, Mar. 2.

An-

The Treasury

todny' nounced that Britain's gold and dollar reserves

feli by $82 muilon during February and #tood at $2,081 million February 20

During

זנת

the de-

the month sikl

the United from States tumounted to $15 million.

WLS

The sum of $8 million received in gold or dollars from the European Payments Union for January.

Britain paid $2 million to the creditors

In

Kingdom had a surplus of £2 million with the SANI 20 M

European Payments Union..

of the Union bilateral settlements.

The United

113

2001 .. 891.

100 A 00

20+ y

100 10 017

400 64 07

400 m (By

21 10 3000 » 21

300 à 21

.10

100 10

230. 21

This must be settind in March, half in gold or dollars of and halt by the reduction debb to the Union-China Mail Special.

Singapore

Stock Market

Singapore, Mar. 3, Brokers today quoted the fol lowing stock prlees:

Star Ferry

XU

143

Yuunat

ForTy

行情

107 150 105

2031127

700 10

C# 1

.11

1737.20 4600

17 10

LIRTH AND 13 20 1390 Electric XD 341, 201

14

IGU

70

2700

33

Murao Elec. Telephone

12 40

30

300 30

700 a 30.

British Bornea Petroleum

Syndicate

DOU ut 30%

Covalentes

*I'm

Vinelters,

Ordinary

Cement X ALL.

23.00

500

23.00

25.00 Fraser and Newwe Lin, or

dinary ble 300

Opening

31/01

30/

a '1 da

1000

2070Fraser and Neave Ltd. 735%

pret

$0.00

21 00 23.10

200

21.70Elongkung & Shanghai Bank

300 21.00

Corporation (Colonit Re-

300 or 22.10

glatori

$470

500 22.2

Malayan Breworks

$3.95

30022.30

$ 2.70

#10

30 or 20

240

$23.20

300

20.40

$14.25

Ordina

Textile Cop Nanyang

6.30

$13.50

D'

23008

$2.00

$3.02

China Mail Special.

Ja STONES, ETC. Darry

Iour Years, Over the past Turkey has craser To make

and Imports

has Rruin доу become, on the contrary, one of the work's leading whout ex-(46 porters. The bad harvest is and exports to T655,700,000 Mr Robert F. Jackson, hard blow for Turkey's ex-

economy, panding since a large

proportion Government investiments. Rune into agriculture.

especially w

r

Vice

CURRENCY DWINDLING

Turkey's income of foreignment over currency to meet these press business plus the quietness

Cxport inquiries ing demands is dwindling.

and Washing- ber 134 trade figures show, ton

to INDUSTRIALS uncertainties relating to Grst eight months of Herage controls, price supports In the 1954 her imports amounted to

the disposal and

of Govern- £T904,500,000 ment-held farm total value of

Burpluses £113,062,500 sterling), world markets, (Lboul

£ 18,350,000 (about

sterling). Executivo

President, Imports with

of American Cotton Manufacturers compared

(aboul CT041,200,000

£117, Institute, Inc., has warned that has 650,000 sterling) and exports

Government plan for selling may of £T892,900,000 (about £80,-

Surplus raw cotton abroad at in the same U12,600 sterling)

prices below domestic levels period of 1953.

would force U.S. mills to use has made great efforts to restrict imports less cotton and more rayon and

And synthetic fibres, to "the barest essentials,

Dropping back irregularly, the has succeeded in cutting

the list closed act 3 lower 10 9 total by almost £40,000,000

points higher. Opening prices (about £5,099,000 sterling)

ware up 5 to oft i point. But the this eight-month period.

Lo up for nid defielt the eight months Orleans closed off

was stul CT348,800,000 (about points.

and Trading volumes cr over £43,600,000 sterim),

Interests in the Exchange today £T100,000,000 (about £12,500,-

were:

Volume Open Interest

FIRST DELIVERY Usually well-informed soLACEN say that Turkey has asked the first United Staics to rush delivery of 30,000 tons of bread wheat to Istanbul,

The Government

Month

25,000

149.00

4a,bou

J.110.300

1530.400

20 500

119.000 53.300

16,000 13,500

201,100 175.00 100,200

New

open

This first delivery would probably be paid for in dollars taken from the economic allocation of 70,000,000 dollars (about £25,400,000) for Turkey In the 1953-54 fiscal year.

The rest of the 500,000 tons 000 ateifing) more than in the would, there sources say. be Brst eight months of last year. March

The foreign exchange short- May under the procedure supplied

in reduced July laid down for the disposal of age has resulted

and Vet. American

Stokks

Diec. of surplus imports of raw materials

parts produce.

for Industrial Mar. This spure agricultural

makes possible de-machines. The Textile Workers May procedure

recently announced u!

po-Federation agricultural ducts in exchange for strategie that 2,000 textile workers

02 factories had been thrown materials. for foreign cur-

Prices of futures closed today rencies to be used at the dis out of work owing to a short-

as follows: Spot cretion

the United States age of Imported fibres. of

Turkey also owes about 40,- Mar. Government,

(about £13 May here 000,000 dollars

com- Oct. for 400,000) to foreign oll

panies for fuel oils and petrol. Dec. The companies are seeking Mar. tor pay May. July special arrangements ment, according to usually well informed sources here,

vivica

It has been that

suggested

Turkey might pay

de

of the grain with liveries of chrome oro,

and

July

Tutai

in

July

11.100

200

4,000

416,300

2.000300 bales

NEW YORK

COTTONS

MISCELLANEOUS

Yangis Allod

Rafes Hptet

300 22,10 Augapore Cold Storage

South British Insurance

20 20 Straits Trading

Steamship

Unded Engineer

sule

Waerns Brothers Hongkonx Th Peteling Tin

with div,

4.23

1000 4.2715

EVERETT

LINES

EVERETT ORIENT LINE

Fast regular freight

passenger

Philippines,

to

refrigerator service

Korea, Japan, Indo-Chinn, Slam, Malnya,

Rangoon, Calcutta and Chittagong.

"BRADEVERETT”

Mar. 0

from Singapore. Mar. G for Kobe & Yokohama,

"NOREVERETT"

34.75m

34.03

34.29-27

34.51

54.50

31.00

Arrives Sails

34.11

34.93

34.03

NEW ORLEANS Pricca of futures closed today ns follows: Spot Mic.

Arrives Sais

31.00

33,50 34,25-20

From the 1953 harvest, esti- mated at about 14,500,000 tons Toprak bought of all grains,

2,000,000

ton, almost

TWO GREAT ASSETS exported some 1,200,000 tons,

wheat. mostly

Foreign agri-

Turkey has two great assets May Turkey which she hopes will lead to July experts in

dim- Oct. crop at solution

of her present

Dec. Strategic Mar though culties: her great

value to the Western alliance, May and the

market July expanding

Prices:

26-291

cultural

241-23

estimate this year's

24-1-25 24"-24

about 10,000,000 tons,

omelat Turkish

estimates are

rather lower.

General innekets, elf barin, porta:

The market was

steady.

Prices 'closed today in guilders per kilogram, CIF March

follows:

No. 1 rubber

No. 2 rubber Nu, 3 rubber No. 1 crepe

for

of

Futures

5431-52 03.02

34.67-00

31.00

54.02

American

Mar/April May/June

DI-

July/Aug.

Oct/Nov. Dec/Jan.

Official values for spot

American

middling

middling SAO PAULO

10/10U 2.30

1-132nd 34.00

2414-20

LIVERPOOL 244-2424

It seems clear, however, that which she represents 2414-245

closings, 1954-05, Western European industries in middling, in pence per ib, were the crop year 24-241 Turkey will have no bread

search of export outlets.

to settle as follows: She hopes, Indeed, wheat for export, and will thus 241%-244

lose what has become, in recent the problem of her commercial

bilateral years, one of her main export arrears through commodities.

rangements similar to those re- West Gar- with cently made The rudimentary nature

for collecting many, her chief trading partner. nachinery statistics makes it impossible to The West German Government tons, include: gain a clear idea of the grain has agreed to guarantee credit American 8. mudding, 29.20

and some terms for German exports to Mexicon situation, however,

b forclen soureca in Ankara

Turkey up to a total amount of love that the Goverment may 150,000,000 dollars,

In roturg Futures closing, in cruzeiros of per kilo were as follows: be taking excessive precautions for guarantees of paymtal

Peasant farmers, theso Turkey's trading debt to Ger sources think, may be holding many. abnormally large stocks of grain The recent visit to Bonn of until they see what sort of Mr Aduan Menderes, the Tur

failed, harvest they can expect next idish Prime Minister, year. According to arst reports, however, to produce the more

for at ten designated spot, markets axrangements this seems unlikely.

favourablo

accord was unavailable. Sales at thete Observers hero recail that which he had, hoped,

centres totalled 10,404 bales aftering to informed sources here: Turkey imported grain

here United Press. the bad harvest of 1950, only

Many foreign traders

05

2.30 buyerh

United. Prom.

New York Sugar Market

New York, Mar. 2. World No. 4 sugar futures olosed today unchanged to 1 point higher with sales of 31

contracts.

Domestic No. 0 sugar futures closed unchanged to 2 points lower with sales of 250 con- tracts.

to find that the excellent hop believe that mo. United States vest of the following year made would grant increased aid to theng, imports, superfluous,

Mar. 18 from Manila, for Mar, 19

&

Singapore, . Penang, Rangoon Chittagong Calcutio.

(Accopung cargo for tranablyment Kobe/Okinawa), Kobe/Pusan

and

EVERETT STAR LINE

Fast regular freight - refrigerator service to Japan, Malaya, Colombo, Bombay, Karachi and Persian Gulf. (Subject to faducement for direct call Korey "STAR BETELGEUSE”

Arrives Salla

Mar, 17

from Japan,

Mar, 18 for Singapore, Port Swetten- ham, Madras, Colombo, KNOT- Bombay, Karachi, ramshahr, Boarah, Kuwalt & Bahrein.

"STAR ARCTURUS”

Arrives Mar. 19. from Singapore.

March

30.50

May July

20.70

20.40).

Oct.

30.40

Dee.

33,20

In

the United States, the average price of 15/16th middling

Salls

Turkey. If she wore frend with London Foreign

Sod

the

the throat of economie break- down, According to some. litical observers here, Turkish Government shares this oplafon.

American circles here

Exchange

Lork

Bro❘ Now, York

Amsterdam Montrent

Mar. 2.

9-1/10

ANOTHER BLOW Another blow to the Turkish Idmited activity in the world economy is the shortage of coal, la normally delimite in which Turkey

welf-sufficient.' She is 'now ex- contracts ensed pretext to import coul in large rotloent about such a possibility.

China Mail Special

contract lacked

20 featuro,

Domestic

0331

Ad

653; with the lower raw situation, qualities,

04) where a decline of two points

40 20.0.30 cents equalled the year's 70 low

.114

Stokin 7-Van Camp,

Buture closings; Coniquet. No, dicworld) 17 March

Shugabakar-Packard Corp.

40

July

Onion Parlie Railway (d.) S Unilai. Gas, Imp; dies

Dar 10. Lou

Us. CypmIJT

in rosearch | Dhandani Oll of Now, Jersey medicina and food. SERMS. CERTAIN “ER News, destala fuse the man will benefi from ila was for ião, produce. tion of power,” he explained. "Probably the greatest help will come from their application in medichkiharopy and dini

and dentai Mail Spedit.

research"--China Wo

per lb.

The shortage of grain Anti

con will aggravate sill further

the crisis caused by Turkey New York Foreign

acuto, shortage, of foreldo¢** chongo.

Turkey's economic dumeulitos arino from the fact that she must: "expodťa continuing foreign truda:"dantit "far" man genes during^a. perfich of": 5pm The present level of the cor

Shout: 100,000,000

Exchange

· Copenhagen Libon. Party Stockholm

West Mark

Zuricti

Dlberg, were

United

Mar. 20 for Kobo

Yokohama,

(LIMITED PASSENGER ACCOMMODATION) (Accepting, cargo for transhipment Kobe/Poss

and "Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION SỊA (Incorporated in, thỏ Republic of Pasana

with Limited Liability), Chinese Department: Telephone 28293. Queen's Building, Telephone 31206,

MESSAGERIES MARITIMES

PO! Box:59%

153 Queen

FAST PASSENGEK/FREIGHT SERVICE

Exchange Rates "VIETNAME

YGAMBODGE

-Businesi" was

done in the focal markei

FAST

Singapore (B)ralle) Indo-Chine

MEINAM"

(per 100

sailing Apr