1955-03-17 — Page 9

Communist

Propaganda

Does An About Turn

Berlin, Mar. 16. Hundreds of demonstra-

'THE CHINA MAIL, THURSDAY, MARCH 17, 1955.

TRADE

and

COMMERCE

SECTION

Page

NY STOCKS PETROL TOO DEAR IN EUROPE

RECOVER

tions, with drums rattling THEN

and flags waving, are being held to whip up martial fer- East In Communit

your

Germany.

be

The compaign bug aprong from the growing certainty that West Germany will soon

within forming her own army Weal European defence, the last that the Communist want.

East Germany Intenos to lo- arrerose dier armed forces. cal)- mafer at between 40,000 And call their openly. by military names instead of disguising the

So much has been as pudier. Bainly stated in Moscow, zubewutiezaily in East Berlin.

which

Apart from the stran the new armed forces will cer-

overworke

the nirendy

East German ceos nomy, there is the problem. getting the required enthusiasm from: East German youll

Ty

BE FIRST

The demonstrations untai-

болезнит

with carefully prepared resolutions urging: "Let us be first in defending

democratic Our

achieve-

ments."

The propaganda machine Is RITIK full blast telling prople that the "workers' state must be defended against the "war- mongers" in the West and that ally pacifist nonsuTibe must be !!! ા, ખ,

Erich Honecker middle-aged Jeader of the 3,800,000 members of the Communist youth move- has achittled that farge ment. numbers of the youths, sebidend for years

Moscow-Buspired prace propaganda. are tradits the sudden switch to militarisen difficult.

**They

410 201 yet se the the formation Печчены изг

uf nationa? armed forces following ratification of the Paris treaties," his statement said. "That is no wonder. A number of probitans have been shelved in the Ger- man denigrulte republie (official name for East Germany) in the past for the sake of East-West German understanding.

in

"But the danger of revived militarism

West Germany has created a new situation und our Government can no longer neglect the armed protection of our workers and farmers,”

About 20

my por

rent of your refugees reaching West

Berlin

during the past months have sak that they left East Germany to avoid being recruited inter the "police" More than 2,000 of the poler dengitesi In 1954

East Germans visiting West Berin say

East GermTh that Youth

has ovenleg stomach

frammy amiform.

£25 A MONTH

The lowest grade barrack-

policeman

a month.

THEN DROP Oil Companies

New York, Mar. 16. Stocks vigorous

made a further recovery today,

then dropped back a bit under profit-taking.

The casing

The come after market

arouti had recovered $4,000,000,000 of the $10,000,- 000,000 loss in valuations suffer- in the heavy aelling which emme on the heels of the bright market study last week.

The dip was a small one, how-

| ever, and most stocks held sub- starstani gains, to more than 4 points in leaders such as Bethir- печи

Sicel

and General Dy- notes, and amounting marc than $1,000,000,000 overall.

The steels and atrerafts, one building supply Isues. 1+1105, cheanddents

phar-

maevullents did well 1ndustrins AN ANTONIJE averaged 3.80 ports higher, ruits 54 cents higher jind utilities 52 cenia bgiber

BRISK TRADING Trading was al a brisk pace,

urderly. with

reporting

tickets filing beturt only i beledy ufter the

operaktis

Accused Of Forcing Prices

ALLEGED INACCURACIES

IN UNO REPORT

By Frederick Ellis

London, Mar. 16.

Accusations that the world's eight major oil

Western companies force Europe to pay high American prices for East oil are 2.900.000 cheaply produced Middle

made in a United Nations report now under discussion in Geneva.

textul Tantawer theres, compared with 3,100,000 Vsterday

Markest commentators ascribed manth of the demand yesteriny and today to buying by invest– | men Wusta, mutual fursis, pen- ston

banks

and other large institutional investors who ignored the selling spree

There was st

a general air wariness, "If

however,

as the financial community anticipatext further test of the market

luws

Le

A good-sized tie of favourable

nows helped tiny Hem much as two year i in the Federal Reserve Board production index,

reports scaring steet demand, and some Hood news for individual KIT- porations.

NEW CHEMICAL

of

Charles Pilzer rose 3 points | on a new chemical, and good i earnings fied American Sign Refining the same amount

The report is written by UNO's Economic Commission for Europe.

World Rubber

Markets

Singapore, Mar. 16. The rubber market wos rather trading nervous with irregular during the day. Puhure closings: No rubber per ib

Apru My

June

393-2

88-06 unquoted

It estimates Europe's oil bill at £800 million and says it is besed on American oli prices, although practically all Europe's full is produced more cheaply in

the Middle East.

B

дя

Yugoslav-Bulgar

Trade Pact

Belgrade, Mar, 16. Yugoslavia and Imigaris signed trada agreement, providing for an exchange of $5,000,000 worth of one year

goods, over

period, i

here today,

WIE BINounced

Apayment

Agreement

was signed at the RADIO time which provides for a payment by Bulgaria to Yugoslavia of $8,000,000 debt by means of exports of Bulgarian goods period

of Franco-Presse.

the

over

year.

World Cotton

Markets

New York, Mar. 10. Cotton futures today opened slightly higher and remained above the previous close for the rest of the session.

Nearby months closed on the day's highs with the general listi up 8 to 18 points. The market unchanged to up 10 opened

New Orleans closed up points, 13 to 17 points.

Activity slackened on the rise traders paused for 4 new look at the picture 'afitr two days of rising prices,

Experts

It contends that the net profi

Middle East vil is often

thought the market mich

a barrel on oil had 10A

worked into a sold-out selling at 12s 8d a barrel-but

condition on the recent drop lu admits that half the profit goes

a 14-month

the low, making In royalties to the sheike.

list responsive to small buying orders from domestic milis, ex- porters and Wall Street com- mission houses,

No 2 rubber per tu apel B-07% refining and other charges, the

Nu J No 4

Audi, th Washington, Pre-

Spot rubber unbated silent Eischhower told a news Blanket crepe conference be Viewed stock ! No I pude elepe InMarket conditions S Serture: factory.

Demand centred in General Dynamics,

Out of a total of 1.281 issues truded, 638 wer

* ****་

higher, 182

lower on the duy,

The

The New

York Stock

G84-60"

10-11 £3-14

NEW YORK Futures today closed 85 to 80 points higher with sales of 214 contracts.

Prices rallied spiritedly after

|

to

COULD BE LOWERED

Even allowing for transport,

report claims that the price European countries "could bo significantly lowored without adverse effects on development of Middle East ofl.

The committee says it has boen greatly hampered by the scantiness of published data."

Recoveries in stocks, grains and some of the other com- modity markels had a steadying effect and acted to offset dis appointment over the continued slow textïa demand and farm legislation uncertainties.

Liverpool brokers were sc credited soilers of October and The report gives no advice on December, presumably Dn stracie positions with tht rangements, but urges European | British market. Governments to take more in- terest before "strains produce u disorderly rupture" in oil prices. The report makes only passing references to the vast capitol expenditure of oil companies,

a lower start, trailing the Phow to change the present ar- Ex-swing at London, and news that change bond volume was $3, the House Armed Services Com

mitte overwhelmingly approved UG0,000.

the Administration's plan to sell Government's synthetic rubber plants 10 private

The American Stock Ex- change volunte Wits 060,000 | shares.

Dow-Jones closing averages on industry,

Street today

Wall follows:

30 industriale

20 ru

15 utili

(15 locke

40 hunds

Com futures price Inday

Allled themtenla

Allis Chalmers

were

EN

403 14 140.44 03.02

150 47

un

errors

While the malter still faces a4 Bight on the House Hour early

And elementary

cast next week, traders viewed the

doubt on the accuracy of some trnd

as potentially bullah the

reasing that production of the figures given in the cools for

for synthetic rubber possi would

be higher svarte auspices. Factory buyers

34 showed more interest in the spot market, where No, 1 Rs moved

Trading volumes and open Interests in the Exchange fo- day were:

Month MARY",

Volume Open interest

5,200 7,400

132,900 047.000 7,000 123,300 2,403,000 bales

NEW YORK

Prices of futures closed" today as follows:

May

43.200 633,700

July

30,000 281.600

Out

24.000 210,100

Dec.

12,000 127,300

re-Tatay

YESTERDAY'S

151177 PRICES

hiy

unter

Alden ine. Acy

ed

drawn

21

300

East

marks (about

sterling)

£25

Д

20

port.

Two British

Fompanics in- Shell, and British volved are

the old

Anglo- Petroleum, Iranlon group.

Mar

July Total

2,400

2,000 300

American Airline

241

American Metal

35

up to 32 cents nomial.

JUSTIFIED

American Smelting

431

Futures:

Spot

34,150

American Tel & Tel

17015

May

31.03-32.00

American Tobacco

July

Anaconda Copper

09

Sept

Arinco Steel

14

Dee.

31.20 30.70 30.23

by the profita

Armour

Mar

29.05

оп

Balwin-a-Hamditon

101

May

29.00

the

Baltimore & Ohlu

Bendix Aviation Corp

Benguet Conn

Bethlehem Steel

20.201

They justify present oil prices need to make suficient to meet huge spending refinerics, tankers, searches for new oil supplies.

A spokesman for Shell has dented that the British com- paples attempted“, to suppress the report:

MART

33.82-04

May

24.11-12

July

34.23

Oct.

34,23

and

Dec.

14.42-44

Mar

34.58

MAY

July

34.42 39.47

NEW ORLEANS

20-20%

private soldier, he is un- likely to get mare Dinu an 30 marks (about

month.

extra

Az 19%) A

13

One uim or the recruiting Campaign Lo explain difference between "democratie" and "capitalist" guns.

difference

of

The Communist daily news- paper Neues Deutschland said: "There is a great between the militarisation West Germany and the security measures of the German demo- cratic republie. The purpose makes all the difference,

Adenauer

Boeing Airplane

Canadian Pacffle Railway

Castr 13. 1) Cu. Chase Nutional Bank

Chile Copper

Chrysler Motors

LONDON

The market was steady. No. 1 1204% spot R58 wero quoted at 26 pence

per 16. Price:

291 No. 1 spot Ita

1014

Settlement torm:

G54*

Juna

Crimercial Credit

40

April/June

Commonwealth Elre.

3016

July/Sept.

Consolidated Edison

47

Oct/Dee.

Continental Steel

27%

Jen/Mar,

Corn Products

Crane Co.

March

Cuban American Sugar

TOYS

Aprii

Curtia Wright

May

of

Dupont de Nemours

10415

Estale repo hlek

Estuan Kodink

General Electric

The guns of the

(the West Germon การtiy

Dr Konrad Aden- Chancellor, ber, is a tireless advocate West German army) serve rob the land from our farmers and return it to the junkers (innded gentry). Guns in our hunds protect the people against robbery and save the lives of and children.”—China

women M-11 Special

US Pressure

On Japan Says China

Tokyo, Mar. 10.

Communist China today

General Foxx General Motors

Gillette Safety Razor Goodrich (B. F.) Co. Goodyear Tire & Rubber Hornetske Mintag Co. International

Machines

Dumi

International Harvester

Leows Incary.

131

7015

International Nickel

International Paper

International Tel Be Tei

John-Manville. Co,

Kennecott Copper

103

Lockheed Aircraft

Lane Big Cement Co.

191

Minnesota Mindaug

002

Montgomery WORY

1734

Notional Cash Register ("A"

2192

National Distillers

41%

Nobtonal Lead

New York Central

Oils Elevators

Pagillo Cina de Electric

Pacific Western "Öll Pan Arteriom

Abrwayd Front Pictures Pro Petroleum Radio

churged that the United States Pittsburgh Plate Class

* putting growing premure on

Reo Motoration

Japan to block normal relations Tepublio Steel (xa.)..

China and the Soviet shell Oil Co.... with

Siner O Union."

Socory Vacuum

Stæderd Oil of Indiana au**

A New China News Agency Southern Hallway (Com.) broadcast heard fn Tokyo sald Standard Brands www.

that "There are politiea1tandard Oll of Californie figures in Japan, who under Riandard Oil of New Jomey American pressure, are wavering stokley Van Camp.

Bludebaker-Packard Corp. broadcast Sit&Co.

Union Carbide

and vacillating"

Tho Communist quoting

from an article in the Kwangning Daily sold that the

Union, Facing Railway

unlad Gar Impastaw,

Unita States do not want vs. Gypsum Japan to have normal relations ang Ko,

UB) Bubber

with Communist nations bensind staten smejumu. Eng.

* would "boen an, important to Stapl

buso for aggression" and it Warner Bros.

was to comminue to end weighouse Recirle

inant of Japan."--United Pren Wool

Sama of the Americon com- panics ETC believed to have pressed for it to be banned on ****-26

the grounds of its insccúràcies. 252-2872 20% kaj | |--London Express Service.

2411-20

General markets. elf bonis, poria:

Edlate crepe thin

AMSTERDAM

254.257

2541-2375

The market was quict, Prices closed today in guilders per kilo- gram, CIF, April as follows:-

No. 1 rubber

No. 2 rubber

No. 3 rubber

No. 1 crepe J

2.39 roll. 2.34 nom. 33 nom. 2.09 nom. -United Prem,

New York Sugar Market

Prices of futures' closed today as follows:

Spot

May

33.81-84 14.08

July

Del.

Dec.

ገጽ

Malaya Rubber Exports

Mar.

34.59

MAY Jury

3440

LIVERPOOL

21.04

30.74 30.01

Future closings, American mid- Singapore, Mar. 16. dling, in pence per lb. were is Despite the firm ruling in the follows: Singapore market the United |Mar/Apri States in February imported May/June July/Au#- 15,070 tons of Malayan rubber, Oct. Nov... according official statistics. Deo./Jan.

The Batures show that February importe by the U.S. were 2.833 tons more than in January and highest total since April of last year.

Official values for spot cottons were all imchinged,

...

SAO PAULO Despite the short month of Futures closings in cruzeiros February total exports tromper kilo were as follow Malaya were 38,883 tons which May were 2,234, tons more than in July Oof. January and were the highest. Dec. alace October last year,

Stock Exchange Year Ends

HONGKONG

STOCK Tax EXCHANGE

(From Our Correspondent)

Business done on the Hong- kong Stock Exchange this [morning amounted to $667,007.-

BO. Noon

the quotations and morning's transactions: BHARES DUYERS BELLERS SALES ¦

BANKS

1K Bank XALL

East Arin

INSURANCES

Valon Lombard

DOCKS, ETC.

K. Whatt... Dock

XALL

1070 1305

206

065 174

30

45

20.น

Provident (0)

Wheelock

LAND, ETC.

21 1375

Technicalities Contribute

To Bearishness

London, Mar. 16.

Tax technicalities of end of the London Stock 121580 Exchange year last night contributed to the recent bearishness. They turned bullish this morning at the start of the new Stock Exchange year and may I remain a bullish, factor for some little time, though probably not so markedly as at today's opening and, of course, as only one market factor among many.

Tu vo

737241 1500 7301

HK Hotel XD 18 10 18 20 2000

portfolios reduc

Low prices last night salted j A historical record in that 180,30 jobbers amce low valuations of prices of leading and good their shares react in the last fort- account taxes by providing a minge off-nightly

of profitable set against big dealing prills in years and recover in the early the past year. They mean of weeks of the new year. bigger Inventory proits ar smatt

HK Land XD 6419 681,

1000 10 3 4000 - 16.20 250 14,

ther

200

03

S'hal. 03. Humphreys

22.20

2

3000 2

XD Realty

UTILITIES

Tram D

Y'a Ferry

20

174 170

C. Light (0117 30 17 50

C

Inventory 10 in the eng 2007ven

year, but that may usefully off-

יבוי ואון

תן

As the past year has been un- precedentedly profitable, this technicality muy be unusually sol a drop

dealing profila since no repetition of the un-

marked at present, though of vesirae labie præcedented market activity of

to be overridden by other influences. --Chinn Mail generally ex- 200 20.10 the past your

Special. 450 175 2101720)

પ્રેમ મા

1917 40 200 17

14 000

14

14 אוו

pected,

WELCOMED

DECLINES

night jobbers

Light (N) 13.00

So up to last

Electric

347% 25% 203 2 341 † welcomed Father 11T7: resisted

2000 35

prize declines From today they Tel. XD

Leun at least be neutral.

INDUSTRIALS

Coment

X.ALL. stope

31' 3Z'z

1500 y 152

[ t* &,

have more

Brokers also now Incentive to encourage business. 201, 20.09 201 2030 | Additional brokerages up to lust might were almost useless to most brokers, since their income for 22 30 the past

year renched record months ago ... 13.30 13.80 160 10heights

STORES, ETC.

Dairy

Watsor.

L. Crawford

CUTTONS

Textile Corp

13.70

200

22.40 22.70

20.00

MISCELLANEOUS

Yangiste

Allied

25.20

6 0,10

.... 3.00

4.15 4.30 1000 t 4.17%

Higher Duty

US

For Upjewelling

The

Washington. Mar. 10.

Treasury Department announced today that watches will Imported for upjewelling in future pay a higher duty.

A Treasury official said that watches which, for example, have 17 resi Jewels and are for upjewelling through

bushings саря. bouchons, must in future pay & higher duty.

prepared

от

Ho estimated that the pre- sent duty of $2.50 on a watch movement could be increased to $10.75 on watch movements of that kind.

wid

decis an. The

which

of the taken by the Bureau Customs, becomes cffcolive 00 days after the decision is pub.. lished In the weekly compen- called Treasury dce:- sions'' and will be applied to of watch move- importatione menta cleared through United States customs there- ofter.---United Press.

diam

Singapore

the

Stock Market

to

Singapore, Mar. 17. Brokers today

quoted following stock prices!

Opening 20.50 British Borneo Petratours

316 s Byndicate 20,64 31.00 Conmolidated Tin Smalters,

30 D 3148

and Reave Ltd., 31.60

Ordinary usule hig $1.39

Neave Ltches 79%, cum. pret A. $0.50

(Colonial

New Yoric, Mor, 10. World No. 4 super futures 68 closed 1 point lower to 1 point

higher with pics of 317 con 401% tracts.

Domestic No. 8 sugar futures unchanged to. 1 point

Corporation with sales of 194 con-

clas

70-14

tract

World contracts ruled steady In line with, the higher raw market and active Cuban and

0215 commission house buying. Trade

The UK took 2,465 tons less in the United States, the ad during the month but Japan in average price of 15/10 middling creased her purchatos by 2,071, at ten designated spol markets tona, Japan bought of total of was 33.71 cents per four Sales 0,020 tons in February-United at these consiren totalled 4,710 | Rafjell Hotel

balca-United. From

1

covering orders predominated in New York Foreign London Foreign.

the domestic contract.

Futures: Contract No. 4: (world)

Exchange

ic May

Juty

New York, N

Elept.

Canada

MAT.

25015 Boot-cents per Iby fob Cube)

al|| Contract No. 6 2015 Ma

Exchange

Hongkong Shengali Bank

Regletor) * Malyan Breweries ungDon Colt Biorate South British Insurance Birwife Tyndkig. "Elestia Stoarnafilp-

United, anginsem

Waerne Brothers: flonskog „TİD ....... Petaling Tin

$3.95*

$840

$2.70

$20.20

20.00 $16.0

Ordinar

"With' alve-china Mail Speči

and taxes were taking up to 95 per cent of uny recent additions

From today, they stor lafresh.

EVERET

London Silver Price

London, Mar., 18. The price of skiver was today fixed at 77% pence for spot and 774 ponce for forward

(Compared with 75% pener for both position previously.)

af

The rise seems to be caused by Soudi Arabia purehaso between 14,500,000 and 17,000,- 000 fine vunees from Mexico for minting.-United Press,

LINES

EVERETT ORIENT LINE

Fast regular freight refrigerator

service to Korea, Japan, Indo-China, Siam, Malaya, Chittagong.

passenger Philippines, *Rangoon, Calcutta and

"NOREVERETT”

Arrives

Solls

Mar. 21 from Manilla,

Mur, 22 for

Singapore, Penang,

Rangoon, Chittagong Calcutta.

"LENEVERETT”

Arrives Sails

Mar. 38 from Singapore, Mar, 28 for Kobo

& Yokohama,

(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STAR LINE

Fant regular freight — refrigerator__ sèrvice to Japan, Malaya, Colombo, Bombay, Karachi and Persian Gull. (Subject to inducement for direct cali Korea)

"STAR ARCTURUS”

Arrivea

Salls

Mar, 20 from Singapore.' Mar. 20 for Kobo & Yokohama.

"STAR BETELGEUSE”

Arrives Balls

Mar. 23. from Japan,

Mar. 23 for Bingapore, Port-Swetten- hom, Madras, Colombo, Bombay, Karachi, Khor ramshahr, Basrah, Kuwalt & Bahreld.

(LIMITED PASSENGER ACCOMMODATION) (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STEAMSHIP CORPORATION S/A

(Incorporated in the Republia of Panama

withs, Limited Liability) -

Chinese, Department: Telephone 28293, Queen's Building, Telephone 31206.

MESSAGERIES MARITIMES

PO. Box 19 ||| Queen a Bullaln

Exchange Rates VIETNAM

FAST PASSENGER,

CAMBODGÉN

ERVICE

sailing Apr. 9th: sailkig May 20th