1955-06-02 — Page 9

1st. Double

VC Handed To RAMC

- London, June 1.

-The-find Victoria Cross -and-Bar-ever to be won-by the British -one-man In

Army are being handed over

THE CHINA MAIL, THURSDAY, JUNE 2, 1955.

TRADE

and

COMMERCE

Page

SECTION

P.J. DISSATISFIED WITH U.S. Emergency Action

to the Royal Army Medical NEW YORK Senators Want The Bell

Corps at short in-

formal ceremony at the Corps Depot at Crookham (Hampshire) on June 26.

The distinctions were won by Lleutenant Colone! Arthur A Hertfordshire Martin-Lenku. doctor who died at the age of 79 In his will, he two years ago.

13 to

D.

instructed that his medals and decorations should be offered to his old Corps. The presentation be made by his brother, Dr Hugh Martin-Leake, and will be accepted

by. Major R. Cameron, Representative Colonel Commandant, on behalf of all ranks of the RAMC. past and present, after an Old Comrades' Church Parade.

S. AFRICA AND PRES

out

It was while serving with the South African Constabulary in ine Boer War in 1902 that Martin-Leake" first won the coveted award He

went Into the Bring line to

dress wounded man under very heavy Ore from about forty Boers who

only a

hundred yards After having dene

were

awattag possible for the man,

Martin-Leake went over to an officer who was ying badly

ja a

mere

Was en-

wounded While he Ceavouring to place the officer comfortable position, he was shot three times. He persisted. In spite of his condi- his tien, in carrying on with duties, and it was only when he was thoroughly exhausted he gave up.

that

while

near

of

STOCK MARKET

New York, June T Stocks turned highly irre- gular today with wide mov- ing specials featuring in

the

either direction and general list just about un- changed on balance.

Rails held well on the upside with a predominance of small gains-boosting the average for the group 0.21-and a few wide changes, Union Pacific and Santa Fe each rose 214 points,

Tobacco stocks stood as soft spots anong industrials with tosses ranging to nearly 3 points as the smoking cancer theories were aged on television.

American Tobacco and Ligest each, fell almost 3 and Myers points: Reynolds B around 2 and Phillip Morris more than point.

AIRCRAFTS DOWN

1

Act Abrogated

Manila, June 1."

Ranking Senators have called for outright abrogation between the of the Bell Act governing trade relations Philipines and the US.

The move came in the wake of reports that the American Congress was "lukewarm" to the approval of the new Laurel-Langley economic agreement amending the Bell

Act.

The Senators showed dis- sought by the PI in the. Laurel- appointment Over the reports Langley accord were "insigni- particularly because Philippine Acant" as compared to the parity

World Cotton leaders had long entertained the rights extended to Americans

Markets

New York, June, 1 Cotton futures today kept roll- Aircrafts continued to decline ing un gradust downgrade for Boring lost nearly 4.

the fourth session in a row. Chemicals had features

to Allied lost nearly 3 both sides, while Monsanto gained almost 4 and Du Pont rose acurly # point

сп

Losses ranged up around crop $1 a bale with the new positions showing relative easi ness as trading developed spuris of activity.

14

belief that the US would ap- prove the new trade accord.

MOVC

ONE OBJECTION

He said that by extending the right to Americans to exploit PI natural resources the Filipinos had.

certain surrendered sovereignty prerogatives.

mad

WATERED DOWN

during

new

Sen Claro M. Recto, foreign of the ruling policy

expert Nationalists Party and Sen; Gil of the Puret Vice-Chairman

that negotiated "the mission

Mr Recto said the watered provisions incor- Laurel-Langley Agreement and Senate economic expert, sparked down parity

whichporated into the Laurel-Langley the abrogation

the essentially found immediate support from accord were

same as those in the Bell Act their Upper House colleagues.

which PI economic negotiators had sought to eliminate One of the main objections of the economic talks in Washing-

ton last year. Sperry Crop rose 64 points

Mr Puyat said if any amend- to $77: Remington Rand 3% to

Buyers remained on the de- Capitol Hill was the uneven In-

the Piments were inserted by the US $47. Sperry Rand issued fensive pending a clearer view crease of tariffs with Stock, representing the newly of the crop picture and Wa- being allowed a faster increase Congress in the new agreement

it was beller that the merged companies, took top shington developments on farm for the first 10 years after

Dagreement be given up ent

entirely position as the day's most active legislation and the Government which the procedure would be issue and ranged between a high cotton export policy for the new reversed for another 10 years and the Beil Act abrogate.

American legislators reportedly

substantial He said a single season.

were of the view that the Pamendment could change the of the "Laurel- entire spirit However, on underlying demight ask for an extension

accord and would mand mill interests and other the 10-year period once it was Langley

useless all the achieve- trade accounts made sellers

Aise objected to was the rightments of the four-month wary about pressing too far,

given to PI to impose an ex-economic talks in Washington. Chief interests centred on port tax. Sen. Recto said these

TOTALLY DIFFERENT de-objections 1956, new OctobET,

were "unwarranted". livery, where dealings started today, Liverpool brokers were leading sellers, supposedly on the idea that ultimate ferm legislation, may increase acreage lower price and allotments supports for the new crop.

held

His second great. distinction Arst was gained during the battle of Ypres in November 1914 when -serving as tenant in the 5th Field Am-

He rescued, to constant fire

of $244 and low of $22. Zennebeke, a large number

closing at $24. It was admitted to dealings today, "wounded "who were lying close

Motors

steels and to the enemy's trenches, and his conspicuous gallantry was the

thestency. subject of a special

traded, 459 reference by

Of 1,172 issues Field-Marsh Sir John French closed higher, 469 were un-

As a mark changed.

"The New York Stock Ex- the change

volume bond $4,330,000.

The change shares.

in a

of

the high regard in which he was held the British Medical Asso- ciation awarded him in 1915 the Gold Medal of the association, which

is given to those "who shall have conspicuously raisect the character of the medical profession."

Martin-Leake also went on a mission

and

ance

to the Serbian commanded a

Army

field ambul-

in the last year of World War One. In. 1912 he served with a British Red Cross unit operating with the Montenegrin

Was

Ex-

American Stock

volume Was 730,000 closing averages

Dow Jones

were:

30 industrials

20 rats..

is utiilos

05. slacks

40 bands

424.08

16008

·

up.

af

were considering that the privileges

At the close the list ruled 3

83.89 to 15 points lower. The market

to off

Comm. future pner index 13.18 points. New Orleans closed of

YESTERDAY'S

Aldan Inc. Ary,

Army in the Balkan War against Alhed Chemicals

Turkey; in World War Two he mobile A.R.P. commanded

unit near his home at Ware.

ONLY TWO OTHERS

Only two other men have been awarded the Victoria Cross and Bar since it was instituted In 1856, and only one now sur- vives. He is

the New Zealander, Charles Upham, who gained the two distinctions in the last war. other was Captain Noel also of the Royal

Chevasse,

Army Medical

cal Corps, who won

his first decoration in 1916, while attached to the Liverpool Scottish, for saving the lives of 20 badly wounded men come from

open ground under heavy fire in front of the enemy's line, and his Bär eleven months later. He subsequently died of his

wounds.

In all, 32 Victoria Crosses have been won by members of the Army Medical Services.

APPOINTMENTS

Brigadier T B. L. Churchill is leaving

Western Command Headquarters to take up his as Major-General appointment

in charge of Administration at General Headquarters Far East Land Forces In June. He 19 Colonel of the Manchester Regi- in which he was com- incat missioned in 1927.

The man who took the sur-

8 to 14 points,

Trading volumes and open interests in the Exchange today

138.08

29.73 opened unchanged

PRICES

11012

Allied Mills Ine.

3427

7325

American Airline

2011

were:

American Cyanamide Co.

567

American Metal

524 Mon

American Smelting

American To & Tel

183 July

American Tob. "B"

Anaconda Copper

Allis Chalmers

Armeo Steel

Armour

oldwin-Lima-Rant. Baltimore & Ohio

Belix Aviation, Corp. Berguet Cons

Belcher Steel Boring Airplan Borden (THE 7 *

Burroughs

Canadian Pacific R

.Case J. 1.1 Co.

C. I. T. Financial Corp. Chase Nat. & Mari.

Chrysler Motors

Colgate-Palmolive

Commercial Credit Commonwealth Elec. Consolidated Edison Continental Steel

Corn Produze Crane Co Crown Zellerbach Cuban Amer. Sugar Surtis Wright

Dupont de Nemours

Eastman Kodak

El Paso National Gas

General Electric

General Foods

General Motors

Gulette Safety Razor Glidden Co.

Goodrich (3. F. Co.

Goodyear Tyre

65% October

December

May

4676 Tatar (bales)

75% March

13%

1614 July

50%

1%

13:1

6214

B4

34 as follows:

17%

Surcharges May Be Postponed

Calcutta, June Shipping scurces here today highly im- revealed that it is interest probable that surcharges

render

long

Mr Puyal said the reluctance

from

Confidence Call For Manchester

- Manchester, June 1 The Manchester Chamber of Commerce publication

Record Monthly

today called for a "renewal of `confidence" in

cotton

trade

Lancashire

the

poeltion by the Industry itself and

and throughout its markets.

It wald the "worldwide publicity

given to our immediais problems must

done a lot to unsettle buyers, workers and all others

tn. the engaged industry." *Commenting

оп the "anger, dismay and regret” expressed in Lancashire at the British Government's failure le grant satisfactory protection against duty free imports of cloth, mainly from India and Hongkong. the article said the threat to the domestle market still remained.

accurately

"No one can assess what volume of im- ports. may pass in the future

into the branches of home demand. The determining factor will still be that of price and sultability of cloths," Monthly Record sald China Mail Special.

the

HONGKONG STOCK EXCHANGE

Taken For Coffee

New York, June 1.

The world's major coffee producing countries took emergency action yesterday to halt the decrease in coffee prices in the United States.

Representatives of 15 nations of Latin America and the Belgian Congo agreed to create an international coffee bureau designed to help! stabilise prices.

The

ogreement was reached (beans will be set aside to keep at a special meeting called here prices. from falling. When as coffee prices tumbled to five- coffee is scarce, the reserves will day low and rumours persisted be put on the market to keep that coffee

were prices from going up, could producers about to launch a price war. The world's largest coffee pro-.

The agreement provides for ducers acted as prices plunged

"buffer" stock establishment of a

A from

A

record high $1.50 of coffee to be used and pre-pound on the retail market last

to 79 cente vent wide Buctuations such as August to

Inst

week. have been recorded in recent Delegates from Brazil, Colom- years.

bia, Mexico and El Salvados were named to the Constitutional Committee. and instructed to spare a draft-coustikustion for ksion to the governments of the countries involved in the stabilisation agreement,

Under this plan, when coffee plentiful, large stocks of

New York Sugar Market

New York, June 1. World No. 4 Sugar futures closed today, unchanged to 3

Coffee countries in Africa and Asia will be invited to parti- cipate in the programeve United Press.

points lower with sales of six London Foreign

contracts.

Domestic No. 6 sugar futures.

closed uncharged to

2 paints

lower with sales of 45 contracts.

Exchange

Liquidation lowered both the New York world and domestic contracts Montreal

da traders awaited news

the international sugar

mecting in London.

from Amsterdimu

Brussels

council Copenhagen

Lisbon

Trade sources here had re- Oslo ports that Brazil bad instructed Park

to the meeting to its delegate

country's with- submit that drawal from the pact,

Futures:

Contract No 4 (world)

July

Бор

Oct.

Dec.

May

July

Sapt.

Contract No &

Business done on the Hong- July

Exchange this A

Sept amounted to $1,156.- Nov.

(From Our Correspondent) Spot-cents per ib. fob Cuba) 3.33

of Capitol Hill to approve the keng Stock new agreement was totally morning different

the impression 336.50 Noon quotations and the March gathered by the PI economic morning's transactions: mission when it was in the US. RHARES BUYERS SELLERS SALES

Cea also

Senator

Edmunda advocated abrogation which he BANKS

said was the honourable thing" for the Philippines to do.

true

HK Bank East Asta

1680 1700 11.1635

216

He said if the reports were INSURANCES

then it only required Union X.ALL 3273) · 905 realising the lesson of the folly SHIPPING of a country leaning too much on another for her economic survival.

Sen. Jose P. Laurel, Chairman of the economic mission was will still out of town and was not introduced on freight rates available for comment regarding to India, Rocently the Indian the latest Washington reports.— 224,600 Goverment threatened to close United Press.

:

Volume

$4,500

Open

561 000 be

13,000

19,300

483.100 5-15.100

4.400

5:00

7,300

100,000

NEW YORK Prices of futures closed

46 Spot

49- July

7512

521

35

4214

43

40

October December

March

MAY

July

October

{new)

as follows:

Spot

July

October

234.700 Indian ports to companies who

138 300 applier surcharges.

2.182.000

The first surcharge due.

to

be applied was a 25 per cent today surcharge on cargoes carried by the Calcutta-Japan Liners Con- ference as from today.

34.60m

33.83

33.40

This surcharge has now been

postponed indefinitely. It is ex-

World Rubber

Markets

Singapore, June 1,

pected that before the other The rubber market ruled dull

by United the whole day with more buying

Ada Nav

DOCKS. ETC.

K. Wharf 137 13 500 @ 74 Dock 24.20 Provident (0) 13.30

S'hat Dock.. Whenlock

2662

13.30

LAND, ETC.

7.30 7.40 1000 730

HK Hotel... 17.20 17.40 2500 of 17:32 HK Land

119 400 0 ... GETS Humphreys

RTS Realty

UTILITIES

Tram

6.10

2.073 2.10

22.20 22.40 300 4:22.20

1073 § 22.30

Star Ferry..

145 Y"mati Ferry 115 120 400 @ 119

C. Light (0) 20.46 2011⁄2 118

C. Light (N) 10.10 18.30 Electric

.... 30

Telephone

INDUSTRIALS

Cement Rope

STORES, ETC.

Dairy

40 825

1000

100

.. 315 3134 1700

33.93

11.09

53.30

24.00m

surcharges forecast

3.21

States, Britain and Continental interest toward conferences are due to be im-Futures: posed, they will also be post-No. rubber per lb. June 90%-80%

July 82-824 poned.

Ang. unqucied

the close.

£84-89 801-862% 9372-044 82-83 9815-99

"Watson

LONDON

1. Crawford 26.80

COTTONS

39.95

33.88

34.01.

33.29

Bombay or at

France-Presse,

Calcutta.--

30 1700 30 35%

21.30 21.40 1200

33.90

1500 1000

NEW ORLEANS

Prices of futures closed today

Indian port authorities state No. 2 rubber per lb. June 91-8112

30. 3 that there has been a sudden.

improvement in the situation at Spot rubber unbaled... 33.76-77 the docks and today there were Blanket erepe

No. 1 pale crepe 33.98-97 no vessels waiting for berths at

middling, in pence per b. were

The Lordon market was very steady. No. 1. spot RSS were quoted at 28 pence per lb.

LONDON STOCK Prices:

London June 1. Sept. Minister Sir Anthony July/Sept. Eden's request for emergency Ort./Dec.

now paralysing Britain brought General markets, cif basis, ports: strength into a sagging market today,

Textile Corp 5.65 5,20 Kanyang

December

March

May

July

3.16

October (new)

33.30

LIVERPOOL

closings,

27

as follows

John-Manville Co

84

Kansas C. Power & Light

40

Kennecolt Copper

10824 Oct Nov.

Aug.

Homstake Mining Co. Inland Steel Co. Interchemical Corp. Int Busincan Machines Inri Harvester ... International Nickel International Paper Int'l Tel & Tel

render of Hamburg and entered angeli Meyers Tob. Co.

Berlin with the 7th Armoured Division troops in June 1943. J. M. K. Spur- Major-General J. ling, is to become Chief of Staff of Northern Command, in SUC- to Major-General Peter who is retiring,

R. Dela

Cessneral

de

and

be G.O.C. 522nd Division

combe is

Is to (Lowland) Infantry and Lowland District, with effect

from October. General Dela

combe served in France, Nor-

Northern

Italy and North- way, West Europe in World War Two. He won the DSO in Normandy,

Major-General C. L. Firbank, who won two DSO's while lead- ing the 2nd Royal Lincolns in Holland in 1944 and 1945, is to be the new Director of Infantry at the War Office in October.

Lockheed Aircraft Loews Incorp. Lone Star Cement Co. Louisville & Nashville R. Minnesota Mining Monsanto Chemical Co. Montgomery Ward (x4.) National Cash Reg. National Distillera National Lead (ed.)

National Steel Corp. New York Central Qui Elevators Pacific Gas & Elec. Pacific Western Ol Pan American Airways Paramount Pictures, Parke Davis Co. Penny J. C. Co. Philips Petroleum Procter & Gamble Ca. Pittsburg Plate Glass Radic Corporation Heo Motors... Republle Steel Shell Oil Co.. Sinclair Oil

Future

63 Dec/Jan.

Mar/Apr.

2014 May/June

American

SAO PAULO

Future closings, in cruzeiros per kilo were as follows:

Judy 413 OCL

Dec. 4812 Mar

MARKET

5.34 3,58

London June

0793351798/16 2.73 32~2.73.3/14 10.62-10. 139.30-233 91, 19.4115-19.41 3. 30.75-80.50 20.013-20.0196

West Marks Zurica..

Others were unchange Prote

Dnited

New York Foreign

Canada

Exchange

England-official

Australia

New York, June i.

$1.01.19/3

30-day futures 90-day futures

538 New Zealand 5.40 South Africa

India Pakistan 5.50. Hongkong

May

3.40

Spot-cerita per lb. cit NY

ex-duty)

United Frees

EVERETT

United

LINES

EVERETT ORIENT LINE

Fast Regular Freight Refrigerator Passenger Service Loading for singapore, Penang, Rangoon, Calcutta and Chitarung.

"KERÉVÉRETÉR

"NOREVERETT

"BHADEYERETT"

̈“BRADEVERETT""

"LENEVERETT,

"REBEVERETTA

In Port Loading Sails June: 3.

Arr. June

27

- June 28

- July 13

-- July 25

M

"LENEVERETTSLAN

-- July 14

- JU

Loading for Koke, Osaka, Nagoya, Yokohama.

“NOREVERLASTO

Art. June 15

Falls June 17 29

- Juna - June 28

July -July 2

- Aug. - Aug. 13 LIMITED PASSENGER ACCOMMODATION. All the above subject to alteration without zodies.

EVERETT STAR LINE

FAST REGULAR VRXIGHT REFRIGERATOR SERVICE Loading for Singapore, Fort Swettenham, Madras, Colombo, Bombay, Karachi & Persian Gulf Port. *STAR ALCYONE" AFT. June 14 Salis. June

7.85 71000 713

1

250 a 1.70

No. 1 Rst spoi Settlement house term: July Aug

2742-2724

77-273

MISCELLANEOUS

Yangtze ... 635

1340 6 6:40

*STAR BETELGENSE"

Allied

"STAR ARCTURUS”

2714-273 271⁄4-27-1

2545-26

2011-20

2537-257%

Prime

powers to cope with the strikes

Jan Mar. Apc./June

stock July Aug.

274-2714

27-2714

NEW YORK..

All sections

of the

lower

moved

30.30 morning

32.80 speculators alike 33.71

Singapore

Stock Market.

Singapore, June 2. Brokers today quoted the fol- lowing stock prices:

Opening

31.12 30/6

marketi

the during

Futures today closed 20 to 20 and investors

tried to get points higher with sales of 179 34.58. A late but vigorous rally contracts.

The higher trend was coupled wiped out most of the losses.

with London and the less balll-

Batu Lintang Rubber *** 20% In the United States, the The threat of economic gerent attitude discerned in the British Bornee Petroleum ... 43% average price of 15/16 middling

industry Jabour Consolidated Tin Smelters ord and mast un-automobile stagnation

Praser & Neave ord *** 42% at ten designated spot markets

Fraser & Neave 1 9.c. pret Was 33.81 cents. Sales at these employment injected a sobering negotiations.

Dealer buying and a CON- Hongkong & Shanghal Bark 7319 897centres totalled 5,787 bales note into the market. Friday's

jubilation following Sir An-mission house demand absorbed Hongkong Tin- United Press.

thony's victory at the polls was hoge selling against a fair-sized Home Rubber

Lunas Estates- overnight business done in ship Malayan Breweries gone completely today.

Most blue chip industrial mot rubber from Malaya, Siam New Berandan Rubber

Spot No. 1 Res were quoted Raffles Hotel socks managed to add small and Indonesia, fractional gains.

nominally at 311⁄2 cents a pound, Steel hares, hard hit in early Future closings were,

July trading, came bacic encouraging, September ly and actually fished on the December plus side, Stewarts and Lloyd March

May starked on a gain of almost 28 July Imperial Chemicals came back to close at a new all-time high

525, ed.

5416

1014

34

Socony Vaccum e Southern: Hallway- (Com.

Sundard Brands wer

LONDON METAL PRICES

Standard Oil of Cal

NEW YORK METAL Standard off of Ind.

FUTURES

Standard Ol of N.J. Stockley Van Camp Studebaker-Packard Swift & Co....**.** Texas Co. Union Carbide Union Pacife. Raily 14.30).......... United Aircraft

Now York, June 1. Prices of metal futures in cents per ib. as follows:

Lead

14.220

10,750

U. S. Line Con

"U.S.-Rubber--

90.650 US Smelting

June

..

Zine

July Juna July

July

29.80%

Copper June t-trades b-bid-

11.344.

11******

U.S. Steel

Warner Bros.

Westinghouse Mectric

West Va. Pulp & Paper,

Woolworth

51%

London, June 1... Prices of metal closed today. in sterling per long ton 25 follows:

sellers

18014

2234) Jin' spot

48412-month

51% Copper B39** 15-month

·533|||| Lead·

Zing.....

buyers

7183

AMSTERDAM

Petaling Thi

Singapore Cold Storage

South Brill Insurance

Straits Trading

10 Straits Steamento JO United Engineers ord fict) Wesme Bros penjua

30.30

The market was quietly Dils were extremely active steady. Prices closed today in 10% and higher. Royal Dutch add guilders per kilogram, cif June 2212 British Petroleum moras follows;

-10310

thaw 38, and Shell Oil: 905 British Government nited Prosa. were mixed-United Press,

No1 rubber

No.

No.

rubber

No 1. crepe

-China Mall special,

Exchange Rates

Business was done in the ideal unofficial exchange market this morning at the following rates: ba| W.8, dollar-(per: 11) -% Sterling notes (per $1).

Les buyers

15.71

July 14

www.pan fly

Aug. 1

- Adg.

Aug. 22 Sept. 7

- Aug.

"THAI

Loading for Kobe, Osaka, Nagoya, Yokohama,

#STAK BETELGEUSE"

Art. June 13 Sath June 14

4 July

"STAR ARCTURUS“

July 28

- Aug 11

→ Aug.

"TBA"

"STAR ALCIONE"

- Aug. $1

LIMITED PASSENGER ACCOMMODATION.

All the above`subject to alteration, without-notice.

EVERETT STEAMSHIP CORPORATION:S/A (Incorporated in the Republic of Panama Kahwith Limited Liability)-

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

MESSAGERIES MARITIMES

| P.O. Box 53 -- Queen's Building #Tel: (051)

FAST PASSENGER/FREIGHT SERVICE

"LAOS”. “VIETNAM”.

selling June 19th sailing July 17th

FAST FREICHT SERVICE

Indonesian rupiah. (per 100) 12.70 "BIR HAKEIM” A.

Siam Ucals (par, 100);uziksev

Singapors - (Straits);

Indo-China: podastres (per(100)

"MEKONG"

**Bading June 29th sailing July 9th