1955-04-13 — Page 9

6m INDIANS

MAY BE

BETTER OFF

Geneva, Apr. 12. Five. United Nations specialised agencies are joining with three South American Governments to bring-a-better life to more than 6,000,000 Indians living in the high altitude of the great Andes mountain chain.

The governments concerned are those of Bolivia Ecuador and Peru...The United Nations Agencies working with them are the International Labour Or- Worki ganisation (ILO), the Heath

(WHO), the

Organisation

THE CHINA MAIL, WEDNESDAY, APRIL 13, 1955.

TRADE

and

COMMERCE SECTION

MILLWILL NEW PAPER MILL WILL SAVE Freer Trade Pledge

NEW YORK

STOCK

MARKET ··

New Highs Reached

New York; Apr, 12.

Food and Agriculture Organisa- Stocks soared to new Educational Scientific and Cal-highs today on top quality

tion (FAO), the United Nations

tural Organisation

(UNESCO) rail and

and the United Nations Tech-ship.

cal Assistance

UNTAA),

These Ave

Administration.

United Nations Agencies, working with the full co-operation of the three Latin American governments, are bringing to

Indians these schools

training and! medical centres. new breeds of cattle and modern farming equipment, while new highways new link the over-populated high plateaux of the Andes with the luxuriant subtropical valleys. and tropical lowlands.

PRECARIOUS LIVING The story of the work there agencies in the Andes 19 a story of how 6,600,000 Andean Indians, living in the rarified atmosphere of the high altitudes of i ithe mighty mountain chain and who for centuries have

their rugged

urced Blocks and

tenda

industrial leader-

rall

The industrial ard groups each rose more than 2 points on average-industrials to a new all-time peak and rails to their best live since March 29, 1930,

Dernand,

but moderate heightened

and

selective through most of the broadened near the close, lifting

session,

or

prices to the day's best levels. The late activity centred rails New York Central and Pennsylvania L

particular.

Sales, which had traded

creased

to

2 yesterday up until

p.m. in- 2.770,000 shares, best of the month, compared with 2,880,000 yesterday,

Early demand centred in stocks of the drug companies working with the Salk polio vaccine as the experiment was pronounced "safe, effective and Early gains ranged. from #point to 3 points Parke Davis, Merak,

American Home Products.

polent," precarious living

from the barren soit, and now being given heath, nutrition, education facilities housing, and educatio

-

as well as working and social standards which will falls in- tegrate them in the social and economie life of the countries.

Nor

have

the problems faced by the United Nations team of confined to those experts been already listed.

The experts have to contend with

health, ignorance.

pour Win

deep-rooted superstition and the ingraimed customs of centuries. For example, in one

in one area the

World Health Organisation team found the superstition that if a woman faced a flash pregnant

of lightning, her child would be born with a hair hip.

But apart from such problems, the experts had to face ex- periences which were physically exhausting for them.

DIZZINESS

ན་

SHADED LATER These were shaded later, how-

NZ MILLIONS Tremendous Benefit To Sterling Area

Auckland, Apr. 12.

New sounds are echoing to-day through the central North Island's huge man-made Kaingaroa Forest.

The thud of ares and the whine of electric saws drown the whisperings of the wind in the treetops as foresters fell tall pines in their thousands in preparation for the opening, in July, of New Zealand's most ambitious project-the Tasman Pulp and Paper Company's £16,000,000 newsprint mill at Kawerau.

World Cotton 150-square-mile forest, of North

Markets

ឆ

Crews of Canadian and New pine harvest to the fathad at whence it is taken. Zealand lumber Jacks have Murupara, begun to harvest legs from the to the mill site, 45 miles away.

TOTAL COST American pines to build stockpile, to meet the voracious

The total cost of the Kawerau appetite of the fourth largest scheme will be £28,000,000, newsprint-making. machine In The New Zealand Government the world.

has provided £12,000,000 for

The

electricity supplies, roads, rail- deep-water ways and a new port to handle export products. "Output from the Tasman Company's 300-acre plant will total each year 75,000 tons newsprint, 36,800 tons of sul- phate pulp and 72,000,000 beard feet of timber. Much of the output will be exported to AuS tralia and Britain.

Some 33 miles of high-grade logging highways have been com- pleted in the forest. Along these, 30-ten Lorries are carrying the

New York, Apr. 12.

most modern logging The cotton market was dull equipment is being used by the

featureless

with lumbermen, who will number today and prices slightly higher,

350 when the mit gets under The market opened narrow way. and mixed with further liquida- ever, when the Health, Education reported in nearby months, showed tion, and Welfare Department but most contracts postponed plans to Ucense the slight gains after the first half

the vaccine sale of

today in hour. Trading throughout the order to give experts more time rest of the day held within a to study the report.

American narrow range.

There was

was further switching Home

24 points of its rise, held

from cht to new

crop months but Merck moved off nearly a point and Parke Davis point with the liquidation in nearby to partly reflect The last two

were among the May reported

belief among traders that Gov. day's most active issues.

On the other hand. aircraft ernment action to expedite ex- the ports may come too late to bene- shares strengthened near close as news came of a proposed fit the May trading position. investigation to the musty's The first notice day for the May profits from Government con- contract is April.25.

tracts.

World Rubber

تایی

Markets

SOVIC

Singapore, Apr. 12. The rubber market advanced decline in The

Liverpool on botter oversous advices which Covering hart. Bethlehem paced the steels, cotton apparently had no effect caused climbing 24 points on an op- on local trading.

There was some small factory timistic, report at its annual At the close the list ruled interest. Future closings were

unchanged to-4 points higher, No. 1 rubber per ib. April 914-04 meeting

May 904-01 The late push in rails lifted Opening prices were 2 points

June unquotes prices When they arrived in the up-

in the group as much as lower to 5 points higher. New No. 2 rubber per Ib. April 8024-00 altiude of

points in Delaware and Hud-Orleans futures Anished 1 to 6No. 3 Lhe Andes,

No. 4 they found that the re-

points higher.

Spot rubber unbaled Utilities had their share duced

brought on

Trading volumes and open Blanket crepe oxygen

good gainers with a 2-point rise interests in the Exchange today No. 1 pake crepe dizziness and digestive distur-

in American Gas and a point were: bances.

gain in Panhandle Eastern. Marith

Jr.

Although the sun was hot in alime, the cold at night or in intense and shade

hign

time to recuperate.

son.

of

44

88-4-8 87%-877 91-83 81-8714 95-46

NEW YORK The market closed today 10 to 30 points higher with sales of 78 contracts.

Rubber prices were steadied on higher London cables. There was no factory interest. In the

No. 1 Rss spot market

Were quoted at 32 cents a pound, nominak. Futures:

day

The New York

Stock Ex-May

Volume 28.200

Open interest

831.500

Was

the party

the often winds. During the early days. had to retreat down

accompanied by

change $3,830,000,

bond volume

was July

15,300

948,200

Oct."

10,800

338,200

15,300

290,900

to the lowlands

from time t

The American Stock Exchange Mar. volume was 940,000 shares. Dow May July Jones closing averages were as follows:

0,100

158,000

2,300

today

30 industrials

420.04

20 ralis

....

757.08

15 utilitics

$1.60

05 stocks

157.82

40 bends

09.97

160,000 2,000 45,300 77,700 2,472,100 boles

NEW YORK

Prices of futures closed today as follows:

Mov

33.15

July.

Sept.

Dec.

1 Mar.

May

To raise the standard of living

of the population, two solutions

The first was tu were

open.

Tural rehabilitation set up centres on the high plateaux themselves. The second was bring down the surplus popula- tion of the high plateaux to the fertile and sparsely populated valleys.

In many ways, the culture and agriculture of the present day Andean Indians are inferior to that which they practised five centuries ago. The

Comm. future price indese 159.11 YESTERDAY'S PRICES

Alder. Inc. Acy.

Allied Chemicals

Alla, Chalmers

American Airline

American Metal American Smelting American Tel. & Tel. American Tobacco "B" Anaconda Copper

Armco Steel Amour

soil conservation and Baldwin-Lima-Hamilton

their ancestors has given way

to weary scratching of the ance terraced. and magnificently ingeniously irrigated mountain- siches.

NUMBER OF FURROWS

Balmore & Oh

100

راهنی

NEW ORLEANS

The project is vitally im- portant to the dollar-hungry British Commonwealth, for will save New Zealand 16,000,- 000 dollars each year from 1957

US Firms Will

Open In Lancashire

Manchester, Apr. 12. American Arms may open up in Britain's famed Lancashire textile region, * British Industrial leader sald today after his return from a visit to the United States.

Mr G. F. S. Ritson. director of the Lancashire and Merseyside Industrial. Development Association. said several U.S. frans were planning to send men to inspect expansion op- portunities in Lancashire this year.

"I think the prospects of American firms opening In Lancashire are quite good." he said. United Press.

HONGKONG STOCK EXCHANGE

this

By West Europe

Paris, Apr. 12,

Western Europe today pledged itself to an economic policy of expansion and freer trade, culminating in a return to convertibility.

The pledge was contained in the sixth report of the Organisation for European Economic Co- operation (OEEC). The recommendation now becomes the official policy for the Organisation's 18-member governments.

war one."

Aster outlining Europe's subject initiated by the British "striking" economic progress in in 1953 were still in progress. the last two years, the report The report said the regularity said the task ahead was to build of the outflow of dollars in the a better economy than the pre- form of Anterican purchases and investment abroad was and The expansion of production would remain ar essential would

it easier tofactor in the world's economie liberalise trade without causing stability. unemployment and freer trade would mean that the expansion. of production was directed to the more efficient sectors, the report said.

towards

make

transaction Ort

INVESTMENTS ABROAD

In the future, however, come mercial transactions and invest- ment abmad would have to play CONVERTIBILITY

an increasingly important part

By adapting its trade policy "Convertibility is the techni cal expression of this movement

to one more appropriate to its treer International Present position in the world, the United States would contribute

of the to a general lowering stressed the im-

the United barriers which at present.... States would have to play and powerfully hinder trade and the

optimum division of labour.” was confident that her

China Mail Special. operation would not be lacking. But European countries depend ed for their progress primarily on their own efforts.

Summarising record" of OBEC

The portant

part

00-

The impressive Dollar Credits

countries since the organisation was created, in 1948, the report said they had!

established inancial generally

production, stability, expanded reduced trade barriers and im

From Our Correspondent) Business done on the Hong- kong Stock Exchange 60. Noon quotations and the proved their balance

ments considerably. morning amounters to $939,175,- morning's transactions: SHARES BUYERS SELLERS SALES BANKS

71550 2210

HK Bank East Asia INSURANCES

SHIPPING

1540

212

1+

Unton Lombard

Underwriters

3015

10

50

*

Waterboat

1914

Ama Nav

*ic.

Other benefits will be: 1. Estimated earnings £7,500,000 a year;

DOCKS, ETC.

of

K. Whart

24.

Providest (0)

X.ALL ....11.70 12 1000 Wheelock 7.20 7.30 1000

10 7.20

LAND, ETC.

2. Virtual independence. for Australia and New Zealand in newsprint and paper tissues;

and

trade

3. Greatly expanded between Australia and New Zealand.

SKILLED STAFF

has

The Tasman Company recruited skilled staff from Australia, Britain, Canada, Fin- New land, and Sweden. These

training perts are now Zealander's in the latest news- techni- print and pulpmaking ques

The

of pay-

was

AID REDUCED present situation changing in a number of ways.. American aid was being reduced. thanks largely to the improve ment in Europe's economy. On the other hand, the deteriora tion of the terms of trade and changes in the world economic might make progress

climate

For Vietnam

Washington, Apr. 12. The Foreign Operations Ad- ministration

the announced opening of a $1,550,000 credit for Vietnam, "

Of this, $1,000,000,"will be spent on molors and turbines, to be brought anywhere in the world, $500,000 for and refined sugar purchases any

raw

where and $50,000 to buy dried fruit in the United States.

Thailand 'has

been allocated more difficult in 1955 than in the two previous years.

$750,000 to buy, pharmaceutical The reperi avoided any pre-products anywhere in the world, and India, $12,842 for technical HK Hotel... 17.33 17.40 1000 17.40 dictions about the possible cate

€5 634 400 6. 831% (of a return to

documentation in the United Fonvertibility. 380 95.

International discussions on the States-Frame-Presse,

HK and

S'hat Land..

Humphrey's..

Realty

UTILITIES

2.10 2.15

114

Tram 2015 20.70 300 30.70 Star Ferry .. Ymail Ferry

X.ALL

107 108 100 & 108

300 @ 107

100 m 108

500

.10%

EVERETT

EVERETT

ex-

C. Light (0) C. Light (N) Electric Telephone

18 13.30 1000 14 14.10

0211⁄2 323%

1950

INDUSTRIALS manufac-

Cement A leading London

XALL pulp, turer of newsprint and who will subscribe £1,500,000 £0,000,000 of the necessary capital, has joined the Tasman Company in its project.

STORES, ETC.

Dairy

Watson

28.00-22.00 500 2500

1000 23.50-

22.30 22.70 700 @ 22% 13.40 131

1. Crawford, 25.10 COTTONS

22.0

32.86

31.35

30.15

30.40 30.00

The company also has a short-term management, agree-

meat with the Abitibi Power

8.00 83%

Yangisze

Allied

1.20 1,20 .............. 4.20-

10000 @ 480

LONDON

London, Apr. 12. The market was very quiet, Prices of futures closed today No Ess spot were quoted as

BABESZER

20% pence per lb. Prices:

No. 1 Res spot Settlement house term:

May

Textile Corp 4 624 Nanyang

and Paper Company of Canada. MISCELLANEOUS

month's'

At Kawerau, three work on the mill and plant re- mains before the 200-foot long NEW YORK METAL

newsprint machine begins pro- ducing paper at the rate of 23 2031-287

miles an hour on a sheet 24 feet wide. 2012-201

6512

as follows:

Spot

45

by

Bendix Aviation Corp.

July

Benguet Cons.

Oct.

Bethlehem Steel

Dec

Boeng Airplane

104

Canadian Pacifin Hathway

Mar.

June

May

July/Sept.

2014-2012

Case (1) Co.

Oct./Dec.

2014-2015

July

Chrysler Motors

Jan Mar.

234-2577

Commercial Credit

LIVERPOOL

General markets, el basis, ports:

Commonwealth Elec.

ADMIL

2014-28%

Consolidated Edison

Futures

closings,

American

May

2024-2815

June

midding in perica per lb. were

Estate crede,

as follows.

unquoted

28

May/June

30.52

July/Aug.

30.01

Oct/Nov.

BIZS

Dec./Jan.

20.40

Mar/Apr.

95%

Official values for spot cottons

31.0

The sub-division of hokiings in some parts of Peru has reach- ed such proportions that land is now measured in the, mumber of furrows to be left to a son or

An grandson.

expert of the international Labour Organisa- tion writes in a report "The land thus fragmented no longer tulis ta economic and social function. It has become merely source of embittered houndary a source

work of the ive United Nations agencies is divided

are:

of Pillap! William H. Din

mainly into tour projects. These the high Plateaux Project Bolivia, headed by Dillingham, a man-

of power

the Inter expert

Inter- Organisation, national Labour

Washington, D. C.: the

Cochabamba Santa Cruz Project in Bolivia, Quesada headed by Alejandro

expent of the Food and Agriculture Organisation, drom Costa Rica: the Tamborats

frombined

comon

ba Valley-

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- &ˆRubber Homstake, Mining Co. International Business.

Machines International Harvester International Nickel International Paper International Tel & Tel John-Manville Co. Kennecol; Copper

Lockheed Aircraft Leows corp. Lone Star Cement Co. Minnesota Missing Montgomery Ward

National Cash Register National Distillers National Lead! New York Central Ots Elevators Pacific Gas & Kiestric Pan American Airway{U Paramount Pictures Philps Petroleum Valley-Puno Plateaux Project Fit Corporation

Pittsburgh Plate Class headed by Emilio Tejada,

Beo Matora

20

Peru:,

an expert of the Food and Agri-Repubilo Steel

the culture Organization from

United Stater, and the Quito

handicratte project in Ecuador,

is headed which

4.

Jan

wandicrafte of the International Labour Organisation from the Netherlaris.

The Regional Director of the. Andean Indian Programme is Parique Sanchez de Lozada, an

of

expert

the

International Labour Organisation, from Bolivia, who conducta the

necessary negotiations with the and co- local governIDEDŽA ordinates the programme from offices in Lima, Peru China Mall Special.

Shell Oil Co... Sinclair 'Ou ....... Socony VacuUM Southern Railway (Como) Standard Brands ................ Standard Oil of California Standard, Ol of Indiana Standard Out of New Jersey Stokley Van Comp.

Studebaker-Packard Corp.

Swift & Co.

Ter GỖ.

Union Carbide

United Gas, Imp..

Union Paciße Raliway

u. Gyprin

US. Lhe, co? 17.3. Rubber si United States. : Szel US. Stec Warner BroR. Westinghous0 · Yle Woolworth'

60% include:

B1American middling 15/16th

inch

431

American S. L. middling 7/8th

inch

Mexic midding 1-1/32nd inch 64Nigerian

SAO PAULO

Futures closings, in crumiros per kello were as follows:

May

July

7814

Dec.

In

11444

23.20

29.10

30.20

30.30-

iniek: April thin

United Fress.

New York Sugar Market

New York, Apr. 12. World No. 4 sugar futures closed today unchanged to two points lower with sales of 155 contracts.

New Newpapers throughout

in Zealand are planning to CTLISE the size of their pro- ductions as soon as Kawerau's product reaches them.

a

the

FUTURES

*New York, Apr. 12. Prices of metal futures closed today in cents per lb. as follows:

service

LINES

ORIENT LINETM

J

Japan,

Fast regular freight refrigerator

to Korea, passenger Philippines, Indo-China, Siam, Malaya,

Calcutta Rangoon,

and Chittagong.

"LENEVERETT"

Arrives

· Sails

Apr, 25 from Manila, Apr. 26 for

"REBEVERETT

Arrives Salls

Singapore,

Rangoon, Chittagong Calcutta,

Apr. 30 from Singapore, May 1 for Kobe & Yokohama, (Accepting cargo for transhipment Kobe/Pulan snd Kabe/Okinawa)

EVERETT STAR LINE

Fast regular freight refrigerator service to. Japan, Malaya, Colombo, Bombay, "Karachi - and Persian Gulf. (Subject to inducement for direct sall' Korea),

Lend

April May

14.405

14.43

Th

"April

20.50

May

90.27%

Zme

April

10 RSD

May

10.05%

Copper

April May

37:45b

37.15b

United Press.

the ther

Sal's

PRICES

The first New Zealand com- country's pany to exploit the man-made pine forests New Zealand Forest Products, which owns

176,000-acre North central Island. Its managing director, Sir David Henry, reviewing first year's production by company's Kinleith mills said that it

it had earned £1,300,000

London, Apr. 12. in; oversias exchange since it

metal markets. Were was opened 12 months ago by steady. Prices closed today in the Prime Minister, Mr Sidney sterling per long ton as follows. G. Holland.

LONDON METAL

All

Tic

Spot

EXOTIC FOREST Domestic No. 5 sugar, futures

3-month closed unchanged to five points

"With the successful estab-Copper

Spo lower with sales of 2721

lishment of exotic forest indus contracts.

Aries, New Zealand's pine forests Load World futures were influenced are now a major national asset,

in part by liquidation in near-he said.

the United States the by May, and also to reports Export of Kinleith kraft pulp average price of 15/16. middling

at ten destimated spot markets was 33.80 cents. Sales at these centres totalled 11,434 bales United Press.

ANTI-PIRACY MISSION

that the executive committee of to the Australian newsprint in- the International Sugar Council. dustry has risen to more than has decided to recommend a 10 20,000 tons, said Sir David. The

increase in world cent

per

market

forest Industries are pro

about one quarter of export quotas.

In the domestic

New Zealand's exports to Aus Dearby May declined sharply tralia. on liquidation prior to the first nofico day. Futures:

July

Tokyo, Apr. 12.

Mar

#

A British textile mission will Sept. come to Japan coi May 3 for May 19 two-week debate with

with Japan

165.

+976

2361

Contract No. 4 (world)

93% ese textile representatives on Spot (cents per

g of British textile the "pirating |designs by the Japaneetsial

textile sources said May July issue a win-

Sept dying against the Japanese "pirat 82% ing of textile dealgos and de 16mand that Japan shouta adopt

strict treasures to prevent it, France-Presse).

NY

This year, with the opening of the Kaweran mill, a further substantial increase in exports

Total

is production figures for

1954

tries

from the Kinleith Indis

timber, 42,000,000

are:

buyers #ECTE

TIT

339

33914

3-month

Zine

Ist half April 1st hall July

1st half Aprili 1st half

10436

104/

nited Press.

104% 1067%

New York Foreign

Exchange

New York, Apr. 12.

90-day future Odisers were unchanged

.79 13/16

board feet; kraft pulp. 42,000 London Foreign

tons; brown paper, 18,730 tons.

330 of this 10,000,000 board feet of

timber and 22,000

,000 tons.

****] were;exto secretary

A former

55% New Zealand Treasury,

Exchange

the Nav Torkfo

5.60 A. D. Park, estimates that the 540 forest industries will soon earn ida

an additional £10,000,000 the Redskoolm overseas exchangeChina Mafi West Karka Special

Press:

London, Lor

140215,

"THAI"

Arrives

Apr, 18 from Singapore,

Apr. 18 for Kobe & Yokohama, “STAR ARCTURUS“

Arrives

Salls

Apr, 19 from Japan.

Apr. 20 for Singapore, Fort Swet- tenham, Colombo, Bombay, Karachi, Khorramshahir Basrah, Kuwait & Bahrein, (LIMITED PASSENGER - ACCOMMODATION) (Accepting cargo for transhipment; Kobe/Fran and Hobe/Okinawa).

EVERETT STEAMSHIP CORPORATION S/A {Incorporated - in the Hapable of Fanāma".

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

MESSAGERIES MARITIMES

PO Box 33 Queen's Buliding: - Tel: 286631)

A FAST PASSENGER/FREIGHT SERVICE "CAMBODGE “LAOS”

sailingMay 20th

sailing Jun. 17th

FAST IGHT SERVICE:

sailing Apr 18th calling May 12th