NUCLEAR
RESEARCH
PLANNING
IN SPAIN
Madrid, Mar. 29. first picture of The Spain's efforts in nuclear re- search has been given by the daily newspaper Madrid.
Following the visit here of the Joint Atomic Energy Com- mittee of the United States Congress, presided over by Senator John W. apollight was turned on Spain's efforts to develop nuclear forces to help to modernise this
agrarian land.
Bricker, the
学
The newspaper Madrid was authorised to publish three articles. obtained, by talks with members of Spain's Commitice for Nuclear Energy (Junta de Energia Nuclear) presided over by General Juan Vigon, who is viso head of Spain's Central General Staff. and therefore second only to General Francisco
Franco in the defence services.
MINING MATERIALS
The
by
THE CHINA MAIL,
WEDNESDAY, MARCH 30, 1955.
TRADE and · COMMERCE
SECTION
NEW YORK AUSTRALIAN RESTRICTIONS ON
STOCK
MARKET
Special Issues Demanded
New York, Mar. 29. Strong demand for special issues-shipbuilding shares, copper stocks and a host of others highlighted a
higher moderately active stock market today.
|
World Cotton
Markets
New York, Mar, 29. Cotton
prices today gave ground gradually with old crop deliveries standing the brunt of the pressure,
Losses ranged up to around $1 a bale with nearby May om below the 33 un level for the first time in ten days.
Liquidation
longs
by tired
joined with hedge offerings and
local selling in keeping prices on a slow retreat.
Trade interest brought on
The shipbuking shores got into full swing near the close line. when Bath Iron Works (builder of destroyers) ran up points to $72. Newport News $764. General Dynamics (which Shipbuilding spuried 54 to
11%
makes atomic submarines) ran up 5% to $80,
Earlier, copyr sharts hed held
48 the spotlight
they spurled on a three-cent-a-poun increase
սի
Those gains all were outside the group used in the averages. Industrials overall "gained 0.82 point, helped by pairs of nearly 2 points in Allied Chemical and a paint or more in American Can, Bethlehem Steel, Texas Company and United Aircraft,
scale down below the 33-cant Closing on the day's lows the list showed not leares of 7 to 18
closed off @ 10 13 points. 3 to up 2 points. New Orleans Marke: s:ntiment can nued to
points. Opening prices were off
IMPORTS
Class "B" Goods
Hardest
Hit
Melbourne, Mar. 29.
Goods most severely affected by import cuts announced in Canberra included textiles, wearing apparel, radios, refrigera tors, wines and spirits, confectionery, toys and jewellery. These are all "B" category goods, quotas for which have now been cut by 33-1/3 per cent.
be influenced by export subsidy -uncertainties, quietness Timihe
textile
markets and the slow as spot" demand.
"A" category goods include such items knocked-down motor cars, office tools, raw materials, and interests in the Exchange today manufacturing parts, Quotas for these
Volume Oven Interest goods have been reduced by 15 per cent...
and Trading volumes
20.960 780.500
21,300 862.200
7,200 206.200
138,100.
Oth
Dec.
4,300 240.000
Mar.
2,700
May
1.900
July
144,300
1200 18.400
open equipment,
40.000 2.480,900 halee
NEW YORK
Prices of futures closed today as follows:
detalls obtained - Madrid showed that Spain is mining nuclear minerals in the lonely and not so long ago
in the price of the still bandit-ridden Sierra
metal. Profit-taking pared were: Morera
installed some gains, but Andes flushed Month and hus equipment in Madrid to pro- more than 3 points and May duce nuclear uranium
a Phelps ΟΠ
Kennecott July Doge and commercial scale. Sixty-two around a point each. scientists are now engaged in research and the Committee has already spent 100,000,000 pesetas (£1,000,000).
• Search
for
containing .ore uranium has been made by the Committee in 45 of Spain's 50 provinces. But the main source of production is in the
romantic Morena, Sierr
dividing between Bastile and Andalusia, where the new village of Santa Barbara de la Sierra, has been built for technicians and miners and where mining has been
in progress fer one and a half yars. Santa Barbara is in such a lonely spot that a new road 17 kilometres (about 10 miles) long had to be built to link it with an existing road.
According to the information given to Madrid, Spain by the end of 1995 will have sufficient for her frst uranium uranium pile, ur muclear reactor.
The residents of the chic villas dotting the outskirts of Madrid's pleasant Moncloa Park were most upset when they saw the "Atomic centre" being con- structed in the park. But they were reassured that no harmful effects could come to them.
UNDER CONSTRUCTION
The centre now under con- struction consists of small, neat and modern buildings situated among pleasant gar- den but with a high fence surrounding it and patrolled by members of Spain's stern green-cloaked Civil Guards, with their shiny patent- leather helmets.
A spokesman for the Com- miltre told the Madrid, "The plant we have installed places Spain, in respect of Free Europe, in the third place
factory to produce
in
Vranium on a cornmer- cial scale. Only Britain and France are in front of Spain in this respect. As long as the mines supply ore, we are certain of production for an extensive programme of reactors. In this year's budget, an allocation of 129,000.000 prestas (£1,300,000) is made for the Committee.... "Our main aim is to produce electric
power. Most of the rivers
suitable
for hydro- electric production are already being used and we are short of fuel for coal-burning generating stations. We also need radio- active isotopes for use in medicine, agriculture and in- dustry,
the
"We are at present in second phase of our programme, namely the construction of an experimental plle, or reactor, of low power, for which we already have a good part of the uranium needed.
by the
to
#Naturally if the offer made United States to the United Nations last September hand over, some nuclear materials should be put into effect,
it would be possible to rednice by two or three years attainment of the pro- gramme. Within Ofteen years, we shall be in a position to contribute substantially to national need for electric power by nuclear production. ...
COLLABORATE
the
the
RAILS STRONG
Rails were strong performers, Of total 1,225 issues traded, there were 520 higher, 458 lower
Turnover. of 2,770,000 shares comports with 2,540,000 yester- day. There were numerous per- formers in the oils. Houston O ran up 34 points, Deep Rock 27, and the high priced Superior Oil of California gained 10 to $103.
There were a few sharp losers also. General Motors declined | more than a point in its group. Zerith backed down a point on realising after fa recent · km- pressive gains. International Salt lost 1 also cn proft taking.
The New York. Stock, Ex- charge bond volume was $2
950,000.
A
The American Stack Exchange volume was 840,000 shares.
Spot
May
Juty
Det
Duc.
Lar.
Max
July
NEW ORLEANS
33.05
21.02
34.04
34.16
33.19 33.35
Administrative category goods, which are purchased under Government
control. include capital
World Rubber retrol, agricultural equipment
Markets
Singapore, Mar. 29.
opened The rubber market
bitor advices frcen sicady co Overseas end trade buying The market advaser further during. the dag en speculative interest and at the clos Trade gai showed interest, Fature closings 33.45-48 We!! 33.73
Prices of lutures closed today as follows; "
Spot
MAY
July
Oct. Dec. Mar. May July
33.93
34.03
34.15
34.16
33.16
33.86
LIVERPOOL Future closings, American middling, 15/16th inch, in pence per 1. were as follows:
March/April
May/June
July/August
OctoberyNovember December/January
34.54 34.88
2 01
30.49
30.10
SAO PAULO Future closings, in cruzeiros per kilos were as follows:
29.10 29.70
20,00
April Jay July October December March In the United States. the Dow Jones closing averages average price of 15/16 middling at terr designated spot cotton
Sales markets was 33.50 cents. iston at these centres totalled 12,504
3.5 bales.-United Press.
were as follows:
30 Industrials
20 rails
15 utilities
03 slocks
40 bonds.
Comm. future price index
YESTERDAY'S PRICES
Alden Inc. hey, Allied Chemicals Allis Chalmers American Airline
American Metal
Amencin Smelling American Tel & Tel
American Tobacco "B"
Anaconda Copper Armca Steel" Armour
41.1.73
15430
90.07
133 61
Bank Liquidates China Assets In Local Currency
London, Mar. 29.
No. 1 rubber per lb. April 021-9214 May 91-9172 June ungunYLed No. 2 rubber per lb. April 207-91% 8872-0012 292-80% 9140-821
No. 3 No. 4
| Spot rubber unbaled
Blanket crape.....
No. 1 pale crepe
NEW YORK ·
8319-8412 07-08
Futures closed today 15 to 45 points lower with sales ref.125 contracts.
Prices see-sawel erratically over a range of a cent a pound, responding to small orders commission either way, from houses and dealers. Alter the Londen market closed, prices locally steadied again on cover- ing by day traders and a small dealer demand.
The spot market ruled dull Rss throughout with No 1 sheets nominally around 32
sa pound. Futures:
May
September
July
December
March
May
LONDON
21.10 31.58
$1,00
21.00
30.GD
A
Delegation
For Japan
Manchester, Mar. 29.
deleration is leaving
Manchester
by 1r for Osaka on April 23 to dis-
cuss the copying of textile designs.
The team
of the
will consid ALY T. Gray Hill, leader, who is Chairman of the
Chamber of Com merce Textile Designs and
Trademark Committee, Mir J.C. Bridgman, member of the Executive Council of
the
Prin federation of Calico
Mr J. M. Lux
of Tootal Broad- moore hurst Lee Limited, and Mr R. C. Booth, Deputy Secretary of the Chamber of Commerce.
At Osaka they will be by Mr D. Jurley, Joined resident representative of the Calico Printers Asso- ciation-Reuter.
HONGKONG STOCK EXCHANGE
(From Our Correspondent)
Business done on the Hong-
Stock
motion pictures, heavy equipment, machine tools, loco- motives, tea and jute. Overall | spending on these goods will be! reduced by 20, per cent.
Goods on which there were formerly no quota
restrictions which and
be Kong now to brought under control, include
Noon essential raw materials such as raw cptton, crude rubber, crude
socka asbestos, nitratë of rock phosphate.
аго
and
NO EXPLANATION
No explanation of the control which will be imposed, or these goods has been giver. But the Minister of Customs, Senator Nell O'Sullivan, will announce full details in due course, it is officially stated.
Australian trade authorities estimate that the tightening of import
together restrictions, with cuts introduced last Sep- tember which have not yet been reflected in import agures, will the result in a total drop in value of imports in the financial year beginning July 1 of about A £100 million.
quotations
and
the
Dunlops Confident Of Malaya
London, Mar, 29. Mr F. D. Ascoli, Managing Director of Dunlop Plantations, said here that his organisation. continued to have full confidence in the future of Malaya:
Mr Ascoli, one of the world's leading rubber experts, said this was shown by the Dunlop Company's policy of continuing to replant and improve their Malayan estates.
"Whether we are right in our confidence I cannot say. It de-
pends on Southeast New York Sugar
generally, he
added. "I the Southeast Asian position im proven I would think self- government in Malaya would not materially affect us Onan- dially.**
Market
New York, Mar. 20. World No. sugar futures closed today 1 point lower with
Mr Ascolt was announcing at sales of 167 contracts. a London Press conference his retirement at the age of 72. He closed 1 point lower to 5 points Domestic No. 6 sugar futures, had returned only a few days higher with sales of 381 con- aga from his 21st visit to
tracts. Malaya in 25 years.
POSITION IMPROVED
the security
The position in Malaya has Improved from point of view very.considerably over the situation of three years ego." he said.
Prodt-taking and hedge selling brought reaction in world peris pointed out that futures futures from earts gains.. Ex- relatively were a little above that dicated for spot world raws, In domestic futures, posting of 230 lots in nearby May against The future of the estates in purchases Exchange this
of actual suger was morning amounted to $242.048.50. Malaya cepended on their being he dominant feature
able to produce rubber cheaply
Futures: | morning's transactions:
but he believed ductuations in Contract No. 4 (world) price would be ironed out to a May SHARES BUYERS SELLERS SALES certain extent by the compat- July
tion of synthetic supplies.
Sept. Mar
Mr
May Ascoli
Britain's July rubber controller in the. last Spot (cents per 1b, fob Cuba) three years of World War Two. Contract No, He became a member of the Advisory Committee to the July. Sept Commissierfts for Malaya three
1300 4 1350
ONG
BANKS
HK Bank INSURANCES
Union Underwriters 1020
SHIPPING
Waterboat
DOCKS, ETC.
K. Whart Dock XD Provident (0)
X A
S'hal Dock Whealock
102
24.30 42.70
11.70 11.99 2000 F 11.80
1.43 500 7.10 7.20 500
130 7.10
17
65
1406445
24.33 22.0216
AND, ETC.
HK Hotel .. 16.90 17.10 2000 HK Land .. 45 100
S'hai Land Humphreys Realty
+.20.40 20.80 400 20.50 1100 20.70
UTILITIES Tram XD The full effect of the restric-
Star Ferry... Kons be to cut imports by
in a whole
Yaumati Ferry year will
X A about
A £160 million.
Their actual effect in 1955/56 will be less as the lag between issuing licences and the arrival of goods means that action taken now will cot begin
to
take effect until well into nex; financial year.
the
to
Ás
The market was casier with spot market up pence 27% pence. Prices:
No. 1 spot Res.... 2714-277%
Settlement house term:
May
June.
At the annual general meel- ing here of the Mercantile Bank of India, the Chairman, Sir Kenneth W. Mealing, said sctile. Apell
July/Sept.
Oct/Dec.
Jan/Mar
Baltimore & Olio....
Bendix Aviation Corp.
42
Benguet Cons.
ment had been recently aired June
May
272-21% 27.273 26-6-203-
-20% General markets, cif bass, ports:
2845.27 2634-21
13
26
Barwin-Lussa-Hamilton
Bethlehem Steel Boeing Airplane
Canadian Pacific Railway Case (J. L.) Co. Chase National Bank
Chile Copper
Carvaler Motors Commercial Credit Commonwealth Elec. Censolidated Edison- Continental Steel Corn Products Crane Co.
Cuban American Sugar Curtis Wright...... Dupont de Nemours Eastman Kodak General Electric General Foods General Motors Gillette Safety Razor Goodrich (B. F.) Co. Goodyear Tire & Rubber International Business International Harvester
Machines International Nickel International Paper International Tel & Tel John-Manylile Co. Kentecost Copper Lockheed Aircraft Leows Incorp. Lone Star Cement Co. Minnesota Mining Montgomery Ward National Disallers Nailoral Cash Register National Lead New York Central Cris ElevatorS Pacific Western all Pacific Gas & Electric Pe"American Always Paramount Pictures Pillsburgh Plate Glass Radio Corporation
Parups Petrokim
Rec Motors
Republic Sleet
Shell Of Co.
Sinclair O Socomy Vacuum Southern Railway (Com). Standard Brand "The restareh personnel is
Standard Ou of California ( entirely of Spanish na-
Standard Oil of Indiana.. tionality, although we col- Standard Oil of New Jerry laborate closely with foreign sumebaker-Packard Corp.
Stokley Van Camp. scientists and technicians, Shift & Co.
Texas Co. "Many of the staff have Union Carbida studied abroad, in Italy, Britalo, United Gas, Imp
Union Parife Railway Germany, Switzerland and the
US, Gypsum United States, At present, seven US. Ene Co.
US. Hubbert
members of the staff are studyUnited States Smoking ing abroad. We have 62 re-ua. Brod search workers with university | Wasper. Bros. degrees. Half of them are: Westinghouse Electric
Woolworth chemists"--China -Mail Special |
at regarding Equidation of the Estate crepe sick Apr. Bank's assets and liabilities in
China. of
local
in currency Negotiations for settlement
foreign currency liabilities and
thin
AMSTERDAM The market was steady. Prices
MAY NOT BE FELT
the Government may again adjust import licensing arrangements before the end of the financial year, the full effect of the latest restrictions may never be falt, the purces say.
Australia's Imports
have varied violently from AE1,050 million in 1951/52 to A£511 million in 1952/53 when restric- tions were strictest.
At their now level. imports
assets were in progress, he said. closed today in guilders per nder the drastic restrictions
-Reuter.
Chicago Grain
Prices
kilogram, CIF, April as follows:
*264 buyers
No, I rubbe
No. 2 rubber
No. 3 rubber
No. 1 crepe
2.83 buyer: 2.00 buysta 2,75 buyers Unlied Press.
Chicago, Mar. 29. Textile Group
Prices per bushel in cente:
Wheat No. 2. red
My 213H) 2114(L).. 2131-7′′
In
Bombay
will still be much higher than originally imposed in 1952, and officials do not believe the new Cuts will
serious local shortages.
ause
241.
214
35 354
C. Light (0) 17.30.18 1100 4 33 C. Light IN 14.10 14.30 5CO 14.20 Electric Macao Mics!! Telephone
123
.. 304 31 100G G
158 1000 và 30
| INDUSTRIALS
Rope STORES, ETC.
Cement X Ad 2015 293
Dalry
....... 21.00 21.00 500
L. Crawford 24.70 COTTONS
Textile Corp. Nanyang
8.60
UK Balance
Of Payments
Falls
in
London, Mar. 29. An
fall appreciable Britain's balance of payments during the second half of 1954 wag recorded today by the Treasury in its. Economic tighten Survey.
an annual economic report, which reviews the past forecasts trends ICT the current year.
While the first half of 1954 credit of £172 milicz showed on famational accounts, the second half ended with a dedcit
£12 million. The net result was that for the year, there was a credit of £160 million, compared with
The decision
to restrictions follows a trade de nct of A£40.3 million in the Arst eight months of the current Sinancial year. With the deficit од invisible stems not yet calculated officials
expect total defici:
Australia's balance of payments of at least A£150 million for the 1954/55 anancial year. China Mar
Bombay, Mar. 29. Three members of a British Special, textile delegation to India, Mr A. Hugh, Mr W. Robert and Mr 14514-140 G. Hughes, arrived here by air 148-today from London.
145
Closing Prices
Spot
July
September
December
219
1907, 20012 20312
Corn, No. 2 yellow
Spot
July
September
Décerty
95% Rye
May
July
Oats
May
July
70%- GU
Soybeans, No. 2, yellow.
18
37
Spot May July
260n
September
November
245/2-4
234
43
Juntary
Barley
Spotte
New York flour
200 tb, sack
Two members of the
"delegas
tion, came yesterday. The sixth 101-10 member is expected shortly. 105-1051/4
The delegation, which will also visit New Delhi, Calcutta, Ma dras and Amritsar, is here with the object of stimulating Indian 25324-254 femand for Lancashire goods-
Reuter
140-150
$14,700 United FrĘS,
London Foreign
Exchange
Londo
· Mar), 20.-
78-5/16
80 189
Paris West E Zurich
Others Pre
United
Steel Mission
For India
London, Mar,29,
At the request of the Indian
Malayan Pineapple Exports Up
a
the
one of 2217 millica in 1953. American aid for defence in 1954 was put down
as: £50 inillion," compared with million in 1953-France-Pressc.
£102
New York Foreign Exchange
Singapore, Mar. 29, Exports of Malaran tiaped pineapples during 1954 reached an estimated value of M$25- 000.000, registering an increase England-oficial
1953 of 25 per cent over the
рет
figure, the Singapore Chamber
in its annual review.
New York, Mar. 20
$2.79-11/02 206-2.70
> unofficial
30-day futures... 90-day futures (199 Cenadion dellar rate:
buyers. 123/32
1.01 2/21:
- The total production of tinned pineapples in Malaya also: ex-Future: panded considerably during the
Government, a British technical year, the review said.
During
1954, mission is to visit India on April
1,109,478 2 to investigate the possibility
cases were produced. of stanziard
107,740. establishing a steel mill which compared with: 707,
£33,000, the year befort in 1954. will cost approximately: £38,000,-
Of the total exports lu 000
1.015/
was
May
Nov.
Mar.
May
years later and President at the 1948 International Rubber Con- ference in London.-China Mzil Spot-(cents per lb. clf NY Special.
EVERETT
ex-duty)
名称:
-United Fres
LINES
EVERETT ORIENT LINE
to Korea, Japan,
Fast regular freight refrigerator passenger service Philippines, Indo-China, Stam, Malaya,
Calcutta and Rangoon,
"BRADEVERETT”
Arrives Sails
Chittagong,
Perang,
Apr. 5, from Manila, Apr. 6 for Singapore,
Rangoon, Chittagong Calcutta,
"REBEVERETT"
Arrives Salls
Apr, 23 from Singapore, Apr. 22 for Kobe & Yokohama,
(Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)
EVERETT STAR LINE
'Fast 'regular freight — refrigerator service to Japan, Malaya, Colombo, Bombay, Karachi " and Persian Gulf.
"(Subject to inducement for direct call Korea)
"THAI"
Arrives Sails
from Singapore, Apr, 18 Apr, 16, for Kobe & Yokohama,
"STAR ARCTURUS”
Arrives Sails
Apr, 18 from Japan. Apr, 20
for Singapore, Port Swet- tenham, Colombo, Bombay, Karachi, Khorramshahr, Basrah, Kuwait & Bahrein.
(LIMITED PASSENGER ACCOMMODATION)
(Accepting cargo for transhipment Kobe/Pusan and Kebe/Okinawa)
EVERETT STEAMSHIP CORPORATION S/A (lucorporated in the Republic of Panama
With Limited · Liability Chinese Department: Telephone 28293. Queen's Building, Telephone 31206,
MESSAGERIES MARITIMES
P.O. Box 53. Queen's Building TelT25037
FAST PASSENGER/FREIGHT SERVICE
of Commerce revealed this week
Spot:
high
30-day 90-day 6-month
1.0124/3
101212
GlUnited.
1.51
Exchange Rates "CAMBODGE"
“VIETNAM'
sailing Apr. 9th salling May 20th
the local
this
FAST FREIGHT SERVICE
15.00
ΜΕΙΝΑΜΟ "PEIHO"!
sailing Apr. 21st Balling May 12th
180 Do
The mission will be in Iedia the United Kingdom accounted
Businen was done anofficie for one month It will be led for about 80 per cent and West by Mr Erie Coats, a former Vice Germany about 10 per cent morning at the following szem
4.2. dollar (ver $1) President
Malaya is the pecond largest Sterling notes (per £13) of the British Coal Board and will comprise repre producer of pineapplex in the Indenadan rupiata (per 100), sentatives of the British steel world after HawallFrance Stam:tical (per 100)
Slatapore (54rašta) SUVsak Presse industry-France-Presse.
Indo-China plastres.(pet LDG).
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