1955-07-04 — Page 9

Aussie Paratroops

Prepare

Sydney, July 3.

Dakola aircraft trundling acrosa the sky over New

South Wales are playing a

major

THE CHINA MAIL, MONDAY, JULY 4, 1955.

TRADE and COMMERCE SECTION

RESTRICTIVE TRADE PRACTICES London Market

part in training NEW YORK Should Be Prohibited By

Australia's Second Battalion

for service in Malaya.

When the Battalion goes there, dazens of its members will wear They the paratroops insignia.

are Australian Army volunteers, earning extra qualifications for their job, and picking up an extra day in pay

Australia now has an airborne for emergencies platsen of 40 and exhibitions, Its members change about every eighteen Now, volunteers are

montas.

going to it, learning to take the long drop in four busy weeks.

which Include eight "I actual Jumps.

Training is done at SKLAW. the School of Land/Air War- fare,

at the "Royal Australian Air Force base of Williamtown, in New South Wales, The Chief Instructor

Major is

Harry Nicholls, who won the Military Cross at Tobruk and a Ear 10 years later in Korea. The fours? is tough.

GOOD RECORD -

6

Volunteer mit be from 18 to 65 years of age, in hrst class be- health, emotionally stable, tween 5 foot 3 inches and fest 1 inch tall and Up to 13 stone in weight. and must have a good service record.

Pupils come from all ranks of the Australian Regular Arrny, Seme

from the

Citizen Military Force. Others are men from the fighting battalions haring more to do, with

are

hard, battle veterans looking for

ર

bit more kick to it than foot- slogging through the jungles to their targels

STOCK MARKET REVIEW

By Elmer Walzer

New York, July 3. Stocky mounted to new record highs in the indus- trial section. on reduced volume in the past week.

Trading fell off to the lightest since the week daily average ended May 27.

The drop in valame reflected

QVET

a captious attitude on the mar- ke: pending clearing up of the steel wage situation. The mar ket vacillated

the stee problem all week. At times it ruse on hopes of a settlement" just ahead. Then it dipped when the negotiations appeared running into a snag.

An actual strike starting failed midnight Thursday

at

tc

"

Law Says Monopolies

Commission

From Our Own Correspondent

London, July 3.

Recommendation by a majority ten-man Monopolies Commission that restrictive trade practices should be pro- hibited by law reflects a widely held belief that various devices aimed at minimising competition among firms in a particular industry are at least partly responsible for keeping the cost of living unnecessarily high.

Now that long waited report of the Commission has been published it is up to the Government to decide how its The problem is recommendations are to be implemented. of some urgency for the Government is committed not only to take action against undesirable monopoly practices, but also to hold down the, cost of living. Moreover the whole partment and then immediately question is of monopolies closely bound up with the equally pressing problem of labour management relations and action" against restrictive practices by manufacturers is widely regarded as a pre-condition to persuade trade unions to abandon their own particular brand of restriction."

shake the market. Prices dip- ped moderately in the steel de

turned up again. When. " settlement of steel wages way announced with US Steel short- ly before noon Friday the steels let go with a barg on the up- ride.

The overall result week was

for the

The a rise of 4:89, points

Government has the three-man minority. The first is in the individual average which choice of two courses of action a ban on all restrictive trade

by Anished the week at 453.82, a or recommended

the practices. This bar, however, a record top. Rails lost 72 cents majority a few

the Monopolies would provide for closely con- to 181,42. Utililles gained 21 Commission and the other by a trolled exceptions where just

fied. cents to 64.48.

The school takes its students rapidly. through the course Primary work, consists of train- ing in careful and reguhr in- spections of all equipment. Then jumpers

learn to fal feet without hurting themselves. Next, they learn to do the same thing again, but from a high fall" trainer.

Then comes the **fan exit" trainer. Modifed harness is fitted to a braking device which. allows the man to fall. at the same speed as he would wear- ing a parachute.

Eight days after the training begins, the men make their first drop from a plane.

BATTLE GEAR

"Extams" from then on consist training. The volunteers must make three jumps with full battle load of artus and gear weighing 60 lbs. and one night drop.

of more specialised

By the time the course ends.

a team of 20 can be out of the

plane in 14 seconds.

jumpers make a "stick."

Twenty

For

Royal Australian Air Force, day's, the term "stick

means

only

INDUSTRIAL AVERAGE

For the first half of 1955, the industrial average finished at 451.38 up 48.99 points compared with the close on December 31, 1954: rails, 160,95,

up 15,69 points and utilities 64.43, up 1,87,

Sales for the past week tolall- ed 11,541,058 shares, a daily average of 2,308,211 shares.

N

N.Y. COTTON

MARKET

REVIEW

By William T. Plunkett

Sicels made the headlines bt- cause of their connection with the news, There were many last week individual stars in other sections. The chemical group furnished So did the several of them,

moved cils, Many

specials through wide-arcs.

The champion of the blue chips De Pont-registered agoin for the week of more than

these no longer

17 points. Graduation brings the right to

.

of pale blue wear the insignia drooping wings and while para- chute and a chance to make the top plaloon in the Army. O! those who take the cours, per cent pass.

AN EXPERT

But to make the 40-man air-

barne platoon, the paratrooper

to

ALTERNATIVE

But on the qualified chemists. whele arrangements of this kind therefore are undesirable and condemned by the majority of the Commission.

Sweden To Expand Trade

Singapore, July 3, Sweden Mataya's prin. cipal supplier of matches for several years, is now making efforts to expand her trade with this country in other fields,

Swediab

A

Consulate Singapore

spokesman in told the press last week that there had bewa increase in trade- Inquiries lately for Swedish building materials and electrical goods. The spokesman said Sweden was able to apply building materials, Bloc- trical foods like refrigera. tors and fans, and furniture made from beechwood,

Regarding Sweden's match trade with Malaya,

said the spoke.MULA

.to- rether with Japan and Hongkong

Sweden sup-

60

Dull After

Recent

Boom

From Our Own Correspondent

London, July 3. After the recent excitement of the London Stock Exchange boom, last week presented a dull and uninspiring appearance.

con-

Prices drifted lower until Thursday on tinuation of the dock strike and the damage it is inflicting on Britain's export trade, but perked up later on improvement in the sterling exchange rate.

The immediate cause of the Petrols and Burmahs on Ameri- decline of prices was a cessation can buying.

Prices generally

of buying which brought "the | receded until Friday when many daily number of bargains down leading issues improved,“ to the 11,000 mark

Rubber shares remained firm

compared

with over 19,000 at the height throughout the week on the or the previous week's boom. high price of the commodity.

shara

plies roughly 90 per cent of

In these quieter conditions a Gold and base metal shares this the matches used to

amount of proft-taking moved irregularly. country. Swedish matches was sufficient to clip industrial accounted fur more than

prices and the Financial each Times index lost ground of the total cent

when it Imports by Malaya.

day until Wednesday closed at 213.9-a loss of 3.3 on amount involved was about

the three days, $$2,250,000 (US$150,000) annually. the spokesman said.----France-Presse.

The

HONGKONG STOCK EXCHANGE

New American`

Thursday saw some improve Loan Possible

ment however, On the "no change" bank rate announce- mert and the rally went ahead at a faster pace on Friday by the firmer tendency in sterling,

New York, July 3.

US Treasury debt managers are said to be talking of a new long-term bond to help tide the Government over the next six *NO CHANGE

months, The Treasury has to millice dollars Investors were cheered by the borrow 3,000 Treasury

In July and 5,000 million or that announcement Government had no intention of more later in the year,

Firal decision on terns will devaluing the pound. But it

played not come warned that sentiment

until after officials talks with private an important part in the move complete ment of the sterling-dollar rate money marker "interests. and recent strikes, especially A large brokerage house stiči the dock strike, have adversely that, in view of the expanding affected sterling in the exchange credit neech of industry ant pending Government Anancing, a it would be difficult for credit Gilt-edged prices" were on

"to Lighters see-saw most of the week. Down authorities

down

(From Our Correspondent) The second kind of pric- tice investigated by the Com- Ekusiness done on the Hong- | markets.

is collective mission

die-kong Stock Exchange this morn- crimination by sellers in returning amounted to $1,562.342.50. for exclusive buying sometimes. Noon quotations and the morn-on Monday up оп Tuesday money supply at this time. This

ΟΙ

thai

reasons."

The alternative favoured by the minority is to set up a pro- cedure for registering types of

dealing. known as "exclusive

ing's transactions: practice that are held to be

This practice is often

justmed restrictive in character and by

BHARES BUYERS SELLERS SALES on grounds that the goods con- publicity ensure that the

the corned

against is made aware how

must be protected

BANKS public

they

HK Bank 1735 1770 .10 1750 foreign competition for strategie operate. This method has much

other

But the East Asia to recommend it.

Often certain majority of the Commission find INSURANCES trade practices are "mistrusted

in general arra goods. simply because the public does

under which the supply of not understand them, though in

list of Lact

they are designed to protect is restricted rather than exploit the con- privilege" retailers in return for Those which have no undertaking to sell only the sumer. justification might well perish in products of a certain group of manufacturers is one that "most the glare of publicity.

clearly operates against public interest,"

Types of practices which would qualify for banning or. registration and publicity accord- ing to how Government decides to act against them fall into six categories.

10

.. 5212 9.30

106 53

870

500 88c

75 7011 26

Lombard Underwriters SHIPPING Aria Nay DOCKS, ETC, K. Wharf Dock Provident (0) 14.20

Wheelock

64 14 400 14.10

8.85 8.90 400 -8.65

1000

8.85 1000 THE 8.30

3000" @

400 04

8.30

8.85

7900 61 8.90

8.35

500 4

250004

72 121 1100 úr 7112

873 72 300, 7215 17 2.2222.30 1000 2.23 11,000 2.271⁄2

LAND, ETC. HK Hotel KK Land

17.30

Humphreys Realty

the

UTILITIES

Tram

New York, July 3. Cotton futures trading became more active and more two-sided.

While nearby months hesitated because of

over uncertainty July contract deliveries, the

MOST CONTROVERSIAL far forward positions raced far ahead of the market, with the the (1956) contract

The third and fourth types of October

practices are the most con- pivotal strong point..

troversial of all. These are the At Friday's

list close the ruled off to up 88 points, or

First is collective discrimina-collective adoption and enforce- by sellers. This is an mest of conditions of sale, chief which of which is the maintenance of of 30 cents to up $3.41) a baletion

the preceding arrangement under compared with

Under

these retail

prices. group of manufacturers have week.

Strength in October came list or retailers and supply their arrangements a group of manu-

à rush of buying

to them and

and to them facturers get together to fix the foods covering from all directions, are. This is especially undesir-retail price of their goods which

the into inspired by

then sold to retailers on unexpected able in crees where retailers on

ers on are t outcome of the wheat farmer the "privileged" list have a way understanding that the price is vote favouring a continuation in

in deciding whether or not-a-to-be maintained It-a-retailer

the manufacturers of production controls.

newcomer should be admitted. defles

the public below the Cotton traders took the view But not all arrangements of this sels to that southern Planters

also sort are against pubile interest. fixed retail price he is brought would favour the maintenance of There is, for example, an agree-before a trade "tribunal

between certain

have powers to "blacklist him. production controls with high ment price

their support at

under This means that he is cut off re-facturers of medicines

which their goods are supplied from supplies not only of the QUOTAS

only to retailers who employ brand of goods which he sold below the Axed price but also. from goods of all members-of the group.

The metal enjoyed a strong market at times with Reynolds the big wheel. That issue gain- ed more than 18 on the week.

Traders continued to diversity their holdings by buying hitherto marrow-moving groups or individual issues. These in- eluded in part the auto equip- must know more than how ments and many special stocks jump from an aircraft. Apa-United Press.

other skills, he must be from

commander's expert in "stick" duties. air despatch, air port- ability (movement of arms and stores). advanced

reading

medical care; advanced motor handling, small boat handling. forest grass and civil fire- fighting, survival training, work- ing of electric, petrol and Diesel

and motors,

evaluation of casualties.

cholo

map Demolitions. aid and

And, as always in the Army, he must be a top-noter. "fighting

maa.

That Australia intends to keep her, paratroop force, in training is seen in the recent announce- ment that 2 Royal Australian Air Force officer was being sent 10 Britain, and

the later to

already

United States, for special train- ing in paratroop schools there.

Paratroops have proved their worth in jungles of Malaya.

Indo-China

and.

The nylon parachutes of the Australian Army Second Battal-

ση may soon be Boating down.. over areas of Malaya.

Meanwhile, judging from the enthusiastic reaction among the troops to the present school. Australia will never be short of volunteers prepared to add an- other, Insignia to their shoulder as they take the ung

nerve domic" course at· SKLAW—. China Mail Special.

Punishment For Breaking Fast

Cairo, July 3.

A religious court in' Mukalla,

a Moslemn sheikhdom of the

Aden protectorate, has sentenced

a goverment official to five.

· years':

Imprisonment,

eight

tast

With

Singapore Rubber ferendum next December.

Market

Singapore, July 3. The market

was strong and active with large turnover. It Prices closed quiet after strong. of rubber futures closed on Saturday as follows:

No. 1 rubber per b

Trace historians recalled that cotton: farmers in the past have approved quotas by top-heavy margins...

has

Another factor speeding the October rise; technicians said, was the fact that the contract

a longer staple is based on one inch instead of the present 15/16 inch

been over- 1223-14:

priced, 1181-118% unquoted October scared to 33.83 cents No. 2 rubber, per ib. July 11214-1131% 7 pound for a cumulative rise of

100-1082 No. 3 rubber per lb. July

110 points, or $5.50 a bale from

13. the low made on June

July

AUR.

Sept.

No. 4 rubber per b. July 103-105 Spot rubber unbaled

Blanket crepe

No. 1 pale crepe-

12414-1244%

00-101

125-126 Unted Press.

are

manu-

International

Coffee Discussions

San Salvador, July 3. Delegates from 14 coffee the producing countries in A belief that ekances

Americas met today to discuss lessening for the allowance of a price and quota recommenda. crop editon tions of the International Coffee subsidy on new exports, along with the quick Bureau established recently in settlement of the steel strike. New York. and the stock marke: rise were

price-shaping. However, on the export sub-- sidy on not too sure and awaited an Paris, July 3. announcement by Agriculture The Bank of France state Secretary, Mr Ezra T. Benson, ment for the week ended possibly over the long week-end June 23, reads as follows holiday-United Press.

The Bank Of France

Statement

Tolal gold holdings. France

201,281,391,426

other

Toul other currencies 14,070242448 U.S. RAW COTTON

183.725.233.410-

Sight balance abroad

TEPU Advance to Stabükkz-

tion Fuad

199,000,000,000 Towel bule discounted 1,024,122,10,299 Banknotes in circula-

tion

Current

deposita

and

EXPORTS

New York, July 3,

224,353,349,481

New York Cotton. Exchange for

and

***... 24.40 24.60 1600

who

Star Ferry Yaurati Ferry Lat

C. Light (0) 21.89

The majority of the Commis- slon condemn these practices, But the minority of three hold that there is nothing wrong in a group of manufacturers decid- ing on what

price their goods should be retried and adopting means of enforcing makertenance To ban these of that price, arrangements out of hand might, they believe, lead to unexpected results.

should be borne in mind," they say, "that to forbi colec- tive enforcement of resale price maintenance Lavours a large

who by manufacturer

his Represented at the meetingvidual action can go a lig Costa Rica, Cuba, the way to enforce individually his Dominican Republic, Feder own contracts by withholding

El Savador, Guatemala, Haiti, Honduras, Mexico, Nicaragua, supplies of his goods cannot

in a competitive market Panama, Puerto Rico, Peru and without serious risk of injury Venzuela,

to his own trade,"

were

They are

1134 424 354 353

C. Light (N) 17.20 17:30

Electric

Tekphone

INDUSTIALS

Cement Hope STORES, ETC.

Dalry

181

223.29 150F GE

2000

3000 44 23.:

500

1500 v

1500

100023,30)

some

on

the

said it would be Wednesday with quarter

reasonable to assume that stock issues touching the year's low-up slightly on Thursday margin requirements might not and again up sharply on Friday be raised from the present 70 on the improvement in sterling per cent level until the sock Oils were mostly quiet except market gets more heetle than for a midweek flurry in British It is now."China Mall Special.

EVERETT

LINES

EVERETT ORIENT LINE

Fast Regular Freight Befrigerator Passenger Service Laiding for Singapore, Fenang, Baaroon, Calcutta - and Chittagong.

*BRADEVERETT*

“LENTVERETT**

"REBIVERETT”

~LENEVERITTE

"AKRIVERETT”

"NORIVERETT""

"BRADÉVERETT"

Arr. July 18 Sails July

-- Aug.

1

Ausz

19 2

- Sept.

3

-- Sept.

Sath July

臨 Aug.

-- Allg.

Sept

"NORIYEKETT"

Sept. 13 - Sept. 20

Loading for Kole, Osaka, Nagoya, Yokohama.

Arr. July 4

--Aug. 22 - AUS.

-- Sept. 8

LIMITED PASIENGER ́ACCOMMODATION,

All the above subject to alteration without notice.

EVERETT STAR

FAST REGULAR FREIGHT EXPRIGERATOR SERVICE

Loading for Singapore, Port Swittenham, Madras, Colombo, Bombay, Karachi & Persian Gulf Port Szia July "LA"

Arr. July 15 Aug. 13

-STAR BETELGEUSE“.

- Sept

1 -- Sept. 22

LINE

16 14

Sept: 2

Sept

Oct

-- Oct.

Loading for Kobe, Osaka, Nagoya, Kokoliams.

"STAR ARCTURUS“

260 67 23.40

"THAI

Watson

Crawford cOTTONS

Textile Corp, 5.80 5.90 Nanyang MISCELLANEOUS

Yangtze

143

12

1000 14.60

"STAR ALÜYONE”.

" 7.20 7.30

1000

own

Allied

5:45

Singapore

Stock Market

July 4 Opening

39/94.

the members of

RESALE PRICE Coffee Growers Federations of

Singapore, July 4. Mexico, Central America and

Along with other practices Brokers today quoted the fol "the Caribbean (FEDECAME), described above the resale price jowing stock prices:

admit maintenance schemes would, if į! recently broadened, to Raw cotton exports by destina-three South American countries the majority of the Monopolies 1 counts 2,503,834,321,475 tion as reported in bales by the-Equaio, Peru, and Venezuela. Commission had their way, be- Batu Lintang Rubber Co. List

British Borréo Petroleum" a criminal offence. come a

The Syndicate ----United Press. the 1954-55 season to June 28 Brazil and Colombia; world's question whether or not this is Consolidated Tin Smelters

24/6d were as follows:

largest coffee producers, the best way of dealing with

Framer & Neave Ltd Ord. ... #1.30 represented to the this

сат problem

only

be Fraser Neave Ltd. 1.507 21: Are

cum. pref 1,113,083 FEDECAME but Colombia has answered by the Government.

$0.55 Hongkong 'Shanghai Bari- 334411 heretofore co-operated closely

$905 ing Corp They will be under kong Hongkong Tin Lad.

JAM The meeting is expected to pressure from the Labour Party Kempas Ltd,

Lana Rubber Estates Ltd.

The Bank Of England

Continent

417,201

two

not

Britain

Orient Canada

Total for sensone

Statement

Same period last year*

excluding linters Urlied

118.550 $14.99

with it.

London, July 3.

Ord.

Iron out minor differences relator: harsći to enforce an Malayan Breweries mone for the England slate Exchange Rates farding export quotes set by the practices and industry or the New Semudah Rabber

for

Inshes and later deportation for June 23, reads as follows. breaking the religious

during the month of Ramadan.“a

2

The official 'was · frind 'swith.

women and bottles of beer in his

car, sccording to despatches received Special

here-China : Mal

Note in die pulation

Pubile dey kits

Privsta dupoREIS.

Government securifier

Other serenities Receipts Hallo

*STAR BETELGEUSI”

*STAS ARCTURUS“ "THAI"

Arr. July 10

Sails July

17"

-- Aug.

5.

- ATE

-- Aug.

243

Sept."

***Sept 8

**STAR ALCYONE" "LAD

-- Aug. *

Com Oct,

IIMITED PASIENGER ACCOMMODATION.

All the above subject to alteration without molles.

T

EVERETT STEAMSHIP CORPORATION SIA (Incorporated in the Republic of Panamas with 'Limited Liability), Chinese Department: Telephone 28293. Queen's Building, Telephone 31206.

MESSAGERIES MARITIMES

PO. Box 53 Queen's Building Tel: 2585%

FAST PASSENGER/FREIGHT SERVICE

$2.30*

$3.42

"VIETNAM"

Bailing July 17th

week -ended

1,782,992, de

Busines was done la the local uboticial exchange market morning at the following rates U.S. Collar (per: $11)

8.78

Sterling notes frem

3

Australian 200k Dez, 21

214455

Indonesian rupiati per 100)

Singapore: (Stats) SenarekiER Indo-China plastrein- (per 100).

ICB at its recent New York Practices on

cher to resist such sweeping Petaling Tin Ltd.

and Raises "Hotel· Esiah case charter meeting.

Eingapore Cold Storage A. price change of 50 to 60 separately Bi action of some South British Insurance

Ltd. cents a pound for green coffeert must be taken and it will 1205 set by ICB appeared to be ac have to be determined action Straits Trading

United Enginzers 320 ceptable to most delegations as faith in the Conservative bellets Steamship Seals Day 2007 fair to producers, processors and in private enterprise is not to be Wearce Brow

767 consumers United Press, seriously undermined.

$145

$4.45

CAMBODGE”:

sailing Aug. 18th

$25,00

FAST FREIGHT. SERVICE

$22.49

1430 "MEKONG”.

Ord.

ade-China Mali special.

200.90

$2.70 "DONAI"

sailing July 5th sailing Aug. 17th

Sterling

14,704,258 339,312,405

-United Prest