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COMMENT OF
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Gloucester Arcade
Bulls And Bears FW will quibble with the
generalisation - that gra- dually rising share prices in a basically sound economy are indicative of the funda- mental health of industry and. commerce-aven growth in the, national pro- sperity, For the share market trend is one of the many cogent factors con- sidered in any assessment
of economic situation in a
free enterprise state....
The spiral of rising share
prices in Wall Street, and
to
in
In
|
i
No. 86169
Established 1845.
WEDNESDAY, JULY 6, 1955.
THE WEATHER: Light to moderata S.W. winds,” Fali
Price 20 Cents
SAXONE
Shoes for Mere Whiteaways
"MADE IN SCOTLAND
HONGKONG
KOWLOON
800-Convicts, In Revolt
PLAN FOR GERMANY APPROVED BIG US
Western Policy At Geneva MURDER TRIAL
BASED ON EDEN'S
VIEWS OF 1954
Bonn, July 5.
Proposals for a Western policy on Germany;
at the Geneva conference were finally approved by experts of four Western powers meeting here this evening.
The meeting, presided over by Professor: Wilhelm Grewe, head of the Political Department of the Bonn Foreign Office, included representa- tives of the United States, Britain and France.
experts
the
French Á Government spokesmen said British and the experts had a greed on meeting in Paris between July Western proposals to secure ali 8-14 and considered by German unity on the basis of free elections. He added no fur- the announcement would be
A lesser extent London in recent months, is generally regarded evidence of a basic sound ness in the economies of the two countries. The casual observer may wonder, how- ever, whether a similar deduction is possible from the Hongkong market trend with share prices now standing at their highest levels for 12 months. that event, an examination of the market is necessary Invariably special circum-ements concerned.
stances and particular local According to authoritative influences tend to operate to sources here the plas is in prin. a greater degree than usual ciple a new edition of the Eden in a community like Hong- plin produced at the Berlin conference in February 1954 kong. One, for instance,
which set out a procedure and might cite the extreme case of local prejudice. No well-e table for uniting Germany
through tree elections, informed observer of the share market would venture to say it affected trends as a whole to any marked degree, but the influence cannot be entirely dis- counted. This is but one example.
AGA
GAIN, where the investor- public is comparatively small as it is here- jobbers' operations can, and often do, play a large if not dominant part in the day's trading.
Western Foreign Ministers at a Paris conference on July 15.
made about the Group's delibera- The West considers it possible, tions, the results of which must even in the absence of any early now be forwarded to the Gov-decision to reunite Germany, to arrange frst some sort of system and, later even a cutback in re- armament both in East and West Europe.
Developments in atomic and nuclear research have served to underline that no control system yet devised would be foolproof
it a nation was bent on secretly It will be incorporated into the manufacturing and hiding final Western plan of action for weapons of mass destruction or Geneva at a meeting of the the components of such weapons. the Western allies in Paris on Associated Press. July 8. West Germany will be decisions taken consulted there, it is understood, DISARMAMENT
PLAN TOO
irr
London, July 5. The Big Westem powers were reported tenight near ourte ment on a little disarmament The trend there-plan for halting the East-West fore is not always a true
ams race in Europe. rellection of public senti ment as such. The interested reader will
have noted that present buoyancy is largely ascribed to "award remittances" of capital from various parts of Southeast Asia. Either because of unfavourable taxation rates or because of political or economic in- security overseas, these in- vestors find our Colony a haven for their wealth and our shares a sound source of investment. Another important factor in the share market rise in Hongkong is that other forms of investment and I speculation, such as real estate, gold bars and Ameri- can dollars at present warrant attention only from
I
The plans call for a census of arms and armies maintained in Europe by East and West and an
cut down agreement to fores in phases.
these
I provides, too, for the creation of demilitarised of militarily limited zones where there would be either no troops or only national troops. Several of these ideas were said to be connected with other aspects of Allled plans.
for a continental security syster.
They will be co-ordinated finally by a group of American,
HOLIDAYS
OVER: DIPLOMATS
ROLL UP THEIR SLEEVES
Washington, July. 5.
the very wealthy. Daily B Four consultations in pre-i
movements on the gold and dollar exchange are positively minute compared with those to be obtained on the Stock Exchange where some shares have the added virtue of yielding as much as ten per cent on outlay.
encouraging
is difficult to make precise allowance for these in- Buences, but if the share market trend is seen in the context of the general economic situation it will be found that there are number of developments which augur well for the future. These are all inter-related; and all interact. Thus, trade prospects brighter; industrial development is moving ahead at a "smart pace; new buildings are rising all over the Colony; millions dollars are pouring in 'from Southeast Asia: these are some of the pointers to prosperity.
are
of
The conclusion must be ther
paration for the Geneva con- ference "were stepped up here: today after Washington's long Independence Day weekend. This moming British, French, and United States diplomats discussed with the
Soviet
Charge d'Affaires, Mr Sergei
R. Stringanov, plans for a joint Big Four secretariat to handle the
now
PERSONALITIES
These pictures show the leading figures in the Dussel- dorf murder trial in which Sergeant F. Emmett-Duane (wearing a heret, « above) is seen manseled to a Military Police serjeant. He is charred with the murder of a fellow sergeant, Reginald Wallers Win” is, seen in the picture
to
Mia She is now married Emmett - Dunne, - London Express Photos.
Britain Agrees To Closer Ties
ITALIAN CRISIS
OVER: NEW
PRISON
RIOT
New York, July 5, Hundreds of convicis rioted
CABINET FORMED Fotel at: Washington State
Rome, July 5.
Prison today, seized eight hostages and took control of three cell blocks.
Prison officials said “as many as 800 may be involved in the
Professor Antonio Segni, left-wing Christian De mocrat, told the President of the Republic tonight he had formed a new cabinet, thus bringing to an end Italy's riot." 13-day political crisis,
He asked Signor Giovanni Groncal, the President of the Republic, to give him until to MGETOW to present his list of ministers in the new * Western Govtament,
Professor Segni was reported' earlier today to be in difficulties over allling the Foreign, Interier and Education portfolics after a last-minute "clash between the four centre parties over the distribution of power.
The convicts, armed with Key ministers. in the new knives and razor blades, seized cabinet
likely to be parole officer, five prison off- Premier and Interior Minister-cials and two guards is hostages. Antonio_Segni:
An official said the convicts Vice Premier-Giuseppe Sara- held control of three cell blocks (Social Democrat) no and threatened a fourth. The Change
acting Warden Mr Wam Foreign Minister Gaetano Connell, said the men also held Martine (Liberal) no change; the kitchen.
Defence - Paolo Emilio Taviani (Christian Democrat) wing, a maximum security no change;
block, first and crashed through the kitchen and dining room, leaving a trail of wreckage,
Budget - Ezio Vanoni (Chris-
Democrat no change.
tian
The Christian Democrats are The left-wing Christian De expected to have 15 portfolios. mocrat and author of Italy's the Social Democrats 4 and the Land Reform bill was formally | Liberals 3. charged on Saturday with setting
up a centre coalition of Christian TWO SMALL
Social Democrats,
Democrats,
Liberalı zed Republicans,
REPUBLICANS.
PROMISE SUPPORT
The Kur-party leaders agreed after a 18-hour session yesterday en a programe for their prospec- tive Government which would succeed that of the Tesigning pranier, Signor Mario Scelba,
DIFFERENCES
The rebels took control of
1
TO MEET CONVICTS
Then they seized wings 4 and 5 and were trying to seize wing 6; which holds what prison authorities described as "very dangerous" convicts.
State
police
were rushed in from all parts of the surrounding There were likely to be two country to reinforce the guards. minor differences between the
Prison officials announced they new Government and that head-had a fed to meet with the ed by Premier Scsiba which dristers discuss terms for
paralysed been virtually internal dissension in the last few months of its life.
These were:
1. Parliamentary backing by the Repablicans who withdrew Tertuous negotiations to bring their support from the Scelba all four centre parties into the Government four months before cabinet suffered a last-micate it fell. check when the small Republican Party decided to stay out.
the hostages.
the riot hours afte they released starson Captain
one host- Renbolt, ad him to spread the word that if vicience used against the rioters the would be „harmed. hostages Rembolt was not hurt.
WETL
At the outset of the riot, Assistant Recreational Director
2. The entry into the Gov-B. W. Fain was injured in ernment, of one or two leaders scuffle He sald he did not But it promised its support of a strong right-wing group in know exactly what had hap- in Parliament, thus giving the the Christian Democrat party pened. He added that the cew esbinet a majority on paper which was directly responsible
"did not want to hurt.
in the commember for Prenter. Scelba's, ballers did not Chamber of Deputies,
Reuter.
FRENCH KILL 13 ALGERIA REBELS
Algiers, July 5,
Thirteen rebels were killed in four savage clashes with French-led soldiers in Algeria, the authorities said today on the 125th anniversary of France's conquest of
With Malta Ara.
By JAMES WICKENDEN -
London, July 5. The British Cabinet has agreed in principle to Malta's requests for closer ties with Britain.
been treated
better ir. my life," He suffered
a nose cut and bruises.-United Press
Blow For Bevan
London, July 5.
Mr Aneurin Bevan, leader of the British Labour Party's left- wing, lost a bid for the Party when the treasuryship today
Miners' Union refused him. huge support,
Even though he is a miners' Member of Parliament, dele- The authorities alerted 150,000, bushed and murdered today by gates of the 700,000 mirezs, troops throughout Algeria to outlaws of the way to his farm, instead, cast their ballots by n thwart any attempt to create some four kilometres from the large majority for his arch-
Mr more disorder.
right-winger village of El Arrouch.-France- opponent, Presse,
Hugh GaitskellUnited Press.
The nationalist rebels ordered a nationwide strike to "mourn" their country's conquest, but there were no immediate reports MENON'S
BEGAN ON SUNDAY
50
The
negotiations
with
Presse.
sources
REQUEST TO WASHINGTON Sir Anthony Eden is expected of trouble. to announce this next week, lald down by Mr Molotov in But he will probably
Washington, July 5. Mr Menon said the Chinese bis address to the United emphasise there are obstacles to One battle between the rebels Nations in San Francisco last the George Cross Island and soldiers sarted late on Sun-Krishna Menon, has asked the and that he had not given up India's special envoy. Mr. people have a friendly feeling toward the American people month coupled with the siz mediately becoming part of day night when the soldiers in United States to
open direct gestion that since the Soviet Britain with its own members of tercepted a band of about
hope that the Chinese leaders Union has made major con. Parliament,
Communist would free the other American" rebels moving south cessions because it thought it
The problems be is expected soldiers opened fire but the China to slacken istemational airmen still imprisoned in China, said.-France- "right"
the United States to say are economical rather than rebcis slipped away under cover tension, political source said these should do licewise at Geneya
constitutional. to make constructive negotia. tions possible. Washington officials at the work- level are moderately optimistic about the chances of the Geneva conference it self being a success but merely as a preparation for subsequent regotiations on concrete East West differences which are bound to be long and arduous
STILL FAR APART
of the position they will take
Geneva on such subjects as i German unification and dis- armament. Detailed reports of the informal remarks mede yesterday by the Communist Party Secretary, Mr Nikita Khrush
have chey,
reached Washington. They have been studied in official circles,
POSITION OF STRENGTH
ing practical administrative It appears to be agreed that Mr Khrushchev did not in fact arrangements.
say anything at the United Independente Day in Moscow which Soviet propaganda broadcasts have not been several weeks.
saying repeatedly for According to official analyses of broadcasts Soviet pro- these paganda has been at rent to deny the repeated pains statements of Western spokes- men at recent Big Three talks that Soviet economic weals- ness was the prime reason for current Soviet willingness to negotiate on East-West differ-
the
United
The conference of the heads of the four Governments opens a week next Monday. This afternoon
States Secretary of State, Mr John Foster Dulles, was confer with the British and French Ambassadors. The latter, Mr M. Couve da Murville, only arrived in Washington from Paris a few hours before this meeting which was expected to carry a step forward the discussion by the three Western Powers
Five Killed In Railtrack Smash
New York, July 5, A Milwaukee Railroad passen. that despite the imponder-ger train struck a car containing ables, there is a fairly cleari people today, killing dye reflection of our present ichlidren and their mother. economic strength in the
The father watched horror- share movements of the stricken from the porch of his year and the omens con-parents! home some 200 fect. tinue to be good. A setback away as the speeding train (which is inevitable) should ripped into the car, A not be misinterpreted by The Walworth County Sheriff, the public. It will be a per-John Cusack said the driver of fectly normal raction, a car, Beatrice Smith, 21 who natural correction which was critically injured could will eliminate neither con have driven 300 yards farther and taken an overpass across fidence nor the market's the tracks, He said the accident essential strength, but will occured at en anauthorised rather be a spar to fresh unmarkedt crossing, where the demand and a signal for tibility down the track was revived interest,
only 20 feet United Press,
Soviet
and powers are
Very
Two alternative plans are still being considered
THREE MP
of darkness, leaving three dead today.
the battlefield
French soldiers pursued the
מס
rebels and yesterday morning One envisages gradual inte-kined four others. gratior with Britain over 15 In another clash in the E- year's ending with Malta belag Milla sector, three rebels were divided into three constituencies killed. A fourth was shot down with members in the House of when he tried to flee.-Waited.
Press, Commons.
The other stresses the ecorio- mic development of Malta with Malta Ofice the setting up of
In London and an annual But they emphasise that the
to the island of about £2 millon Western to the
far Soon after Cabinet adopts its stil
final toff apart in the solutions they plan, Prime Minister Min-
almost all the to is expected to hold propose for
seeks a creating ter plebiscite In Malta to problems now.
two-thirds majority approving sion between the East
his plans. This is needed before West.
the constitution, can be altered to provide for integration with Britafr:London Express Ber- vice...
and
Like Mr Khrushchev those pro-And there has not yet been my clear indication from Soviet pagandists have been emphasis
statesmen either In ing that the Soviet Union is
the entering into the El Four recent Big Four talks in San conference in a. podiion of "Francisco or in Moscow that strength and solidity equal to the Kremlin is prepared to that of the United States. make the kind of adjustments to its practical policies which The Soviet leaders are apparent.
1y% maintaining. Ale hard are exental to an East-West bargaining position which was settlement.Reuter
Ex-minister Assassinated
Munich, July 5, Matua Cernak,
Slovakc Minister, was assasinated" when a parcel he was carrying exploded, in a post office here today, Cernak's friends said.
bearer of the
parcel had both arms blown on and his chest caved in, but papers found on his body exbled the
che
Why Juin Quit
Paris, July 5,
*
AMBUSH
Constantine, July 5, Gabriel Maury, brother of a chiet inspector In the Con- stantine prefecture, was
CYPRUS TALKS
Greece Says 'Yes'
Strasbourg, July 5. Greece has accepted Britain's The French independent news invitations to attend three- paper, "Le Monde" said today power tallas with Turkey on that Marshal Alpha Juin Cyprus, a joint British-Greek withdrew from: the newly-communique, said tonight. created "co-ordinating committee
on North Africa" because, the
The
sonouncement followed Government failed to give him our's talk in a hotel here between the British Foreign dence" said the victim was the assurances he asked for Secretary, Mr Harold Macmillan,
regarding French policyFrance-Presse.
definitely Cernak.
F 5: ', ‛ Cemak, who was Slovale Minis
ster of Education arider, the -Nazis, was arrested in 1945 and freed 1948 when he Imandgrated to
Moroccan
Second Baby For Opera Star
and the Greeks Torekti Minister, Mr. Stephen Stefanopoulos,ca arrangements for the talk
Questiound by reporters after the meetingir Stefanopoulos said that he was t "moderately New York, July 5, optimistic. Metropolitan Opera Held that so far he and singer Patrice Munsel gave Me Macmillan had talkost only police tentatively to identity with the Soval Correspon birth to her second child, a son, of wishes and hoper", and de- him as Cernak e
dence" informatiemetin at Hamilton, Bermuda, last tails of the proposed conference, Comar's friends, editors of the of the National Slovak Com night, her agent announced here They bad not discussed the
newspaper "Slovak Corresponcil abroad Trance)
today-Ualted Press. pr
Cyprus próbiera", AbellaFlexster -
Since then he has worked
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