1955-07-25 — Page 9

中

CANADA

TACKLES DRUG

PROBLEMS

THE CHINA MAIL, MONDAY, JULY 25, 1955.

TRADE

and

COMMERCE

SECTION

ANGLO-JAPANESE TRADE TALKS Investors Await

Ottawa, July 24. NEW YORK Little Likelihood Pact

More severe penalties on

drug addicts are recom-

mended by a Senate Commit-

teo which has been con- sidering traffic in narcotic drugs in Canada. The Com. mittee found that there is a "complicated but well defined pattern" of illicit traffic.

The extent

the evil, of especially in Vancouver, had not

been generally

appreciated

before the Committee's report was published, its recommendu- Bons for lightening the taw ugainst trollckers and its supe Kestions for the treatment of addiets may lead to a move for JCW

Tersation next session.

11-

Is the principal drug involved, Canada, as a ber of the United Nations egred to make all Importation of heroin illegal murl put

This

isto effect dest January,

The

STOCK

MARKET

REVIEW

By Elmer Walzer

New York, July 24. Stocks advanced last week after experiencing a brief: period of jitters DI thu Geneva conference.

Wall Street conservatives talked down Geneva worries. They held that peace would be a buon to the nation's industries and a boon in turn to the stock market,

When defence stocks had gene through some more selling, they stendled and came back substantially. That was the durn, pelis to si trafficker-signal for the whole market to

report found that the trafficker-Importer sells 10 tracker-wholesaler, who, ia

are

These

the turn up.

ASL/VD and fow higher-ups ከድሮ addies. The chistribuitor then sells to peddlers, many of whom are addiets, song not.

Doctors

According to oficial figures, there are 3.212 known addicts in Canada, of whom $15 ore. medical. 333 professional and 2,364 criminal addiets. The high number of doctors is regarded

as disturbing.

Of the criminal diets, 1,101 are in British Columbia, which hus 1,500 addiets in

were

no

The evidence of Commissioner L. 1. Nicholson, heat of the Royal Canadian Mounted Police,

that a majority suggested

addicts criminal "driven to crime" by drugs. Of first the 2,384 total, 1,220 wer convicted for some other offence, 478 were addicts with criminal records other than narcotic drug convictions, and only 341 were Arst convicted for drugs.

eitme

Corporation reports showing the progress of Industry in the second quarter and the first hold

many of them records helped the rise along. Several com- panies ordered stock splits and several others raised dividends or declared extras. Meantime, industry continued to mount to new records and official experts said the rise would continue with 1955 taking its place ng qur best economie year,

Early in the week when the murke was in a declining pro- cers, the trading lightened. (picked up as prices turned up.

Will Be Renewed

For Considerable Time

From Our Economic Correspondent

London, July 24.

Talks in Tokyo on renewal of Anglo-Japanese trade and payments agreement have resolved themselves into a series of wrangling sessions. The old agreement has already been until the end of July to give the two extended once — delegations a change to reach an understanding and a further extension is now considered inevitable.

Although little news of the talks has leaked out of Tokyo,

Atlas Canadian Uranium Deal

Montreal, July 24, The Atlas

Corporation

of New York, which còn- trola Bome of the largest uranium minings in Aus- tralia and the Colorado plateau in Utah has bought a controlling share in one of the most feritle uranlam fields in Canada.

Details of the deal were withheld until

share- holders

庭

meeting planned within the next few days. Ailaa purchased control of an Australian uranimum company within the Inst three weeks and has heavy Investments in the Colo rado plateau'field in Utah. -United Press.

informed quarters in London, have a fairly clear idea to HONGKONG

form they are taking,

N.Y. COTTON

MARKET

REVIEW

By William Plunkett

last

in

The Anglo-Japanese payments position has been transformed out

of all recognition over the past 18 months.

During that has bull up her time Japa

from reserves

sterling of zero

£100 illion or twice what is can- sdered her normal requirements of the currency.

virtually

of

כין

to over

fl

dolla:6. Now

more than she is

The British delegation in Tokyo can speak only for Britain and the colonies although trade be- tween Japan and the dominions. Is an Im- especially Australia, portant factor in the sterling

act Japan payments picture.)

year.

TRESSING

this

to be

But the Japanese so far from Gone are the days when Japan withing to buy inore from the Lad

borrow sterling in starling area are pressing for an London agains! collateral crease in the amount it buys from them. Last year imports of she is | selling to the sterling area far Japanese goods into the sterling ares were worth about £200 New York. July 24.

buying from Cotton It

futures finished it and her sterling surplus seems taillion. The Japanese are ask-

igure ikely to rise even further unlessing for week irregular

the balance achieved. moderately active dealings.

AL Friday's close the list ruled 12 points

20 lower to points higher-60 etuis a bale lower to $1.00 a bole higher → than the previous week's close.

the Prices declined in

the in- hour sessions under

yener of Washington uncer tainty in regards to disposal plans of surplus cotton and the methods to be used.

Leadership was of the highest calibre. Industrial gains centred

the blue chips and finally on Frkiny-the rails came life,

to

The rise in the rails hearten- nd the chartists who had been gloomy when the carrier issues failed to join-the-advance Their rise on Friday helped in- spirit Into the whole

The Committee was much. Interested by the evidence given | market.

Unitea by Mr J. 1. Walker, Kingdom delegate to the United Nations Narcotic commission, but

to this conclusion: the evidence it appears "From That there never has been serious

problem in the drug

the United Kingdom and that situation there is not comparable with that of Canada."*

Many Suggestions

The Senators

heard mZI Y suggestions for treatment, in-

vluding "the

removal

and

segregation of all convicted

from

addicts to an Institution, removed

for 呀

preferably on an island, for long periods of time

coupled

general population.

system of parole,

with

some where re- habilitation was Indicated"

RAILS AVERAGE

Best

The possibility of enactment of the Eastland cotton bill, com-

Commodity C:cdit Comp, stocks, also was a pending factor and brought about general Ilquida- ting movement with mill and trude demand small and limited

as to price.

The mirbach average came | mitting the sale of surplus within 3 points of its high since 1930, The industrials approach. ed their record high sei a short time ago. The utilities set a new 24-year high with a record of gaining in every session even the ones in which the other major groups declined.

of an

men

The committee went out of its way to encourage the work Alcoholics Anonymous and organisation aiming at a similar approach, entitled

Narcoties Anonymous..

Their report saldi: "Because there are many common factors In drug addiction and alcohol- ism, both Alcoholics Anonymous and Narcotics Anonymous hold some promise for the rehabilita tion of drug addicts."

Both

v0

nonolines-

STOCK EXCHANGE

Mr Butler's Announcement

From Our Own Correspondent

London, July 24.1

Friday's news that the Chancellor of the Exchequer, Mr R. A. Butler, is to make a state- ment in the House of Commons next week on the economic state of the nation-and expectation that he will announce a new austerity programme including curbs on hire purchase deals-halted the Stock Exchange boom which had lifted share prices to record heights on each of the four preceding days.

The

on

setback mainly affected companies making goods which are usually sold hire purchase, but oils which had advanced strongly in the past fortnight on news that more and more industries are switching from coal to oil as a source of power are also down.

Gil-edged also suffered ៧ On the other hand, the period of weakness when news expected' moves to curb home Just before the weekend, that demand have everything to do sterling was being subjected to with the weakness of sterling, renewed pressure in the foreign Official quarters belleve

that exchange markets, caused fur- rumours concerning sterling will ther substantial losses.

persist and even grow stronger The markets are now wait- as the International Monetary Ing Mr Butler's statement with Fund meeting.

for scheduled growing anxiety. A number of September, approaches-unless to show (From Our Correspondont) measures are known to have something is done

been under consideration by the foreigners that the British Gov- Cabinet and some of them at ernment are determined to least are expected to be adopl-maintain a fhm hold on kong Stock Exchange this ed next week, Almost certainly internal situation. Hence the ex- will morning amounted to $1,213,820, hire purchase will be made pectation that Mr Butler

and there is No quotations and the morning's harder

strong get tough next week, possibility that this transactions:

may bo Before this, however, the stock Linked with more definite in-markets had been going from SHARES BUYERS SELLERS SALES structions to the banks to eur-strength to strength. Olks had

tail credit, #

and cut in imports, been particularly buoyant from the dollar area several leaders were up to now especially 21 1075 and deferment of less important peaks before the weekend set-

capital. Investment programmes.bock,

Businers done on the long

BANKS

HK_Bank of trade can be increased to £250 million this

XD Britain is quite willing to

Fast Asia betwee circumstances Establish trade

the INSURANCES of trade

Union would sterling area and Japon on the stepping up her tighe possible level- long

HIM | SHIPPING imports from the sterling area, as it

is roughly in balance. But

In the present the balance mean Japan

10

....

230

...... 10c0

1433

Waterhent... 21 40 Asla Nav

936.

DOCKSTETC.

K. Whart

73 Providers LOLJAM 16

(It should be remembered that there seems little chance of the

Japanese agreeing to step

imports sufficiently to nuke trade at the level of £250 mution war way a feasible proposition,

has her own

internal Japan troubles, the foremost of which 1-AND, ETC. is needed to suppress intiation.. Unessential inports have been cut to a bare minimum eo the Japanese are not taking kindly to the suggestion that they should buy more British luxury goods.

CEYLON

SUGAR PROJECT

sugar.

Colombo, July 24.

OTHER SNAGS

But there are

01

measures

moves

the

There was nervousness on the IMMEDIATE CAUSE

oll markot at midweek on fears The current weakness of that large blocks of oll shareS

unloaded sterling is not due to expecta- might be

following tion of more severe disinfia-the death of Mr Four Fer .....tionary

but these InCent" Gulbenkifa, Britain. The Immediate cause isfeurs were soon forgotten in the the widespread belief that the renewed spate of buying British authorities are... about to news that the Government. allow sterling to fluoluate within would encourage industries wider trading margins than at substitute oll for coal

source of power.

10009,45

HK Hotel... 17 00

18 1000 770 0000 17.0 UK Land... 72 1945 30673

(N) Kulty UTILITIES

19.00

4.55 2.571% B000 2.57

Train ...... 241 24.60 3150 2475 Star Ferry ...

131

Y'all Ferry

121

156 1233

250 12

100121 An

C. Light (0)23,20) ▼ 1000 23

200 M 23

[email protected]

500 8 23.20

118.20 1500 18.10

3000 18.20

44 445 4400 or 44!4

C. Light (N)

Electric

lacas Elee. 10.70 Telephone .. 351⁄2 3315 3295

1500 2514 3100 351

Dairy

the

present.

EVERETT

NES

EVERETT ORIENT LINE

Fast Regular Freight Refrigerator Passenger Bervice Loading for Singapore, Penang, Rangoon, Calcutts and Chittagong.

"LENEVERETT"

"DRADEVERETT"

Arr. Aug. 2 Salle Aug.

~Sept.

-- Sept. 24 Sept. 23 -*- Oct.

↑

-- Sept.

B

-- Oct.

Salk Aug:

Loading for Kobe, Osaka, Nagoya, Yokohama.

INDUSTRIALS

Cement

..... 324 3214 2500

322 3200 M 3214

"NEBEVERETT"

"NOREVERETT"

*23.40 23 50 500 23%

500 6 23.00

400 23.00 -500

2314

"REDEVERETT“

Watson

L. Crawford COTTONS

Texilio Corp akuyang..

15.30 35

"NOREVERETT'

"BRADEVERETT'

6.15

01.05

Yangtze Allied... 5.00 300 10 Bị Đ

7.00 7.70 1000 R 7.00

1000 7.09

On the other hand they are and eager to buy more A visiting Japanese industrialready On Friday, however, the list mission has urged the establish- British machinery and machine recovered most of its car-ment in Ceylon of a 31,000,000 tools But-the-nag-here-is- lier losses on short covering rupee sugar project capable of prices and delivery dales quoted Railroads reported sharp which reflected the belief that

manufacturers by the

do not producing sugar at five cents a rise in

their there would be no Government car loading and

nicet with their approval. pound. business cutlook Improved

to eniten

In the apparent deadlock one programime the point where several of them ment until next week. Golos ex- The commission which visited hope remains establishing the placed high car crders. This intended to nearly $3 a bate before Ceylon recently suggested the sterling area on a higher level. turn helped the outlook for the easing

Giritale, in Central and town of prolit-taking

This

is or the Japanese to any area cyclical railroad

some equipment hedging.

their raw of Ceylon, as the most suitable site switch issues.

for the project.

material Imports away from the LIVERPOOL WEAKNESS

dollar area to sterling sources, Oll issues displayed strength

The mission was said to have The British delegation in Tokyo most

of the week and several

Weakness in reached new highs. World peace

the Liverpool called attention to a similar pro-are stressing this point, with STORES, ETC. on a brighter basis would help pectation of a

market early in the week in ex-ject started in Formosa In 1943.

particular reference liberal exportAt present, the Formosa project availability of sterling oil. those companies, the market

said. They also held that subsidy polley was reflected at now includes some 40 factories

New York. Liverpool recover- other companies with foreigned some losses late in the week, producing over 1,000,000 tons of

with connections

ехрогі

cotton

from

other snags Hedging of деву possibilities would be aided, The

According to plans outlined (apart from those connected with Street tried to sort out those the Rio Grande Valley, where

is raining by the Japanese technicians, all actual trade that makes it un- issues and some of the buying the movement

momentum, as well as from the machinery for the proposed ilkely that the agreement will Mexico was another contribut-sugar industry would be supplied be reached quickly or easily. In: MISCELLANEOUS ing factor to the decline.

Japaness manufacturers. ure frst place Japan has the Constructive factors such as a Jupen was prepared to supply problem of what to do with her

domestic the better than expected

and excess holdings of sterling neccssary machinery

has something like £50 consumption report and more technical assistance, according

advices from the to the mission.-United Press. million over and above its optimistic textile markets had little effect!

normal commercial requirements. the In stemming 1quidation

The question is what should be minor

done with the surplus? Japan movement except

could if it wished sell for technical corrections.

dollars. True it would have to Crop accounts are generally favourable beltwise and the

accept slightly less than the market now is

Metal rate, but the loss would turning its at-

bo not tention to the coming first crop

now that the heavy of the season which

British authorities are support- estimate will be published on August 5.

the Ing

transferable sterling Expectations in the trade now

market. centred around EL production

Alternatively Japan could hold bales.--

Borneo Petroleum on to the whole of its sterling 11,500,000

Syndicate balance in the hope that the

Consolidated Tin Smelter

Ord, und will shortly be made con-

would involve | Fraser & Neave fitd. vertible. This

10x3 Ord.****

& Neave Ltd,

organisations provide aim to group therapy and develop ITE the individual i

was based on that situation.

Tobacens had a better market. Stock splits were ordered by such companies as Owen-Illinois Glass, Gillette, Lifesavers, and Evans Products. Paper whares

મ were said to be piling up good earnings and then moved higher, The Industrials average closed Parts of the Committee's re- the week at 164.69, up 4.40; rail-

150,08,

up 0.01 qtility, port are revolutionary in their road

68.45, up 1.27: and 65 stocks, approach, so far as the thinking 188.09. 1.67.

desire to by curet.

of the average Canadlan is con

The

Sales for the week totalled a daily

United Pre93,

cemed. One paragraph in pati 11,502,117 shares, of cular is attracting attention:

evidence of medical average of 2,316,423 shares. authorities was to the effect that drug addiction is not a disease in itself. It is a symptom or manifestation of character weak- nesses or personality, defects in the individual. The addict usually an emotionally insecure and unstable person who derives support from "riarcotic drugs."

Chief Proposal

is

Chief of the proposed mea- sures for combatting the trame /in drugs is heightening the penalties to bo,imposed црап traffickers, whether they addicts or not, without tinction.

Australian

Publicity Campaign

Canberra, July 24. The Australian Cabinet has Approved a plan to spend more

£280,000 fis thon

Australian

re

approval followed a fest campaign in the Bristol area which hekloved heartening re- sulls.

(£200,000 sterling) on a trade drive in Britain "It is the considered opinion blicity of the committee that the must during the next 12 months, the effective

of Commerce and way of taking the Minister profit out of the drug trame is Agriculture, Mr John McEwen, by making all trafficking, in has announced. terms of penalties,

The most hazardous and costly under- taking to the trafficker.

"If the higher up is not able to find a rondy mupply of assist- unts to distribute drugs to the addict population, ability of drugs may be reduced to a possible minimum," it says, Suggested sentence, irrespec-

Mr McEwen sold Australia would concentrate on a system- to avail alle area by aren coverage of

the main

figure of

United Press.

for.

The Bank Of Franco

Statement

cur

by

Arab League

Shipping Company

It

Singapore

Stock Market

Singapore, July 25. Brokers today quoted the fol- lowing stock přiecs:

Cairo, July 24. A note concerning a project of an Arab for the creation navigation company, having a risk of a large capital Fraken. prot

Arr. Aug. 10

-- Aug. 20

www., Sept.

7

31 --Aug. 27 -- Bept.

Я --- Sept. 24

"LENEVERETT"

-- Sept. 23 LIMITED PASSENGER ACCOMMODATION.

At the above subject to alteration without matiem.

EVERETT

STAR LINE

FAST REGULAR FREIGHT REFRIGERATOR SERVICE Loading for Singapore, Port Bwottenham, Madras, Colombo, Bombay, Karachi ✯ Persian Gulf Park, "ETAR BETELGEUSE" Arr. Aug.

- Sept.

"STAR ARCTURUS"

THAI

"STAR ALCYONE"

10

Bails Aug. 10

ย

Sept. `0

Oct.

-- Sept. 21

Loading for Kobo, Ozika, Nagoya, Yokohama.

Sept. 20

~ Oct.

15

→

10

Nov. -B

- Nov.

G

Art. Aug.

12

Sails Aug. 13

Aug.

17

- Aug. 28

----- Sept. 20

-- Sept. 21

-

-- Oct. 0

Nov.

Oct... 9 31 → Oct. LIMITED PAssenger ACCOMMODATION.

All the above suḥfuck to alteration without notice.

EVERETT STEAMSHIP CORPORATION S/A (Incorporated in the Republio of Panama with Kimlied Liablilty) ·

Chinese Department: Telephone 28293. Queen's Building, Telephone 81206.

t

British

Opening Co. "Lintang Rubber

$1.00

49/-

"STAR ARCTURUS" "THAI" "ETAR ALCYONE"

32/-*

"NTAR BETELUKUBE“

$1.73

85.35

Dosat

Bod

$1.70

$1.20

$3.30

Ltd.

Now Serandals Rubber Co. Potaling Tin tid. Bames Hotel ...

$1.50

83.10t

$2,35

$1.05

quoled

$27.00

$14.00

$11.18

$3.70

exdiv. cumdiv, China' Mall

New York Raw Cotton Exports

the pound depreciated against capital of six million Egyptian the dollar, But this would be Hongkong & Shanglial Bank. pounds, has been submitted to at least partly offset by the fact ing Corp..................... Paris July 21. Mr Abdel Khalek Hassounit, that once

the pound becomes Hongkong Tin Ltd.

Kempas Lid. The Bank of France state- Secretary-General of the Arab freely interchangeable with Lunes Rubber Estates Ltd. ment for the wook ended July League, it was disclosed here collars the excess of Japan's Malayan Breweries -13, reads as follows:

today.

would be con- sterling reserve France

Plans have been made for the verted into dollars at the official Tojal gout holding. 201,20) 36,420 Total other

execution of the project as soon rate at any time It chooses. - renctes

14.224.730.730 it has been approved by the

Singapore Cold Storage South British Insuranes Co. Bight balance abroad

ANOTHER REASON ・・

Ltd. AnXCPU Road 100,102,081,283 League's Economie Council.

The noto suggested that Arab Advance to Stabilisa-

further €

reason for Siraits Trading ton' Fund

190,000,000,000 governments could supply 50

delaying the trade and payments United Engineers Oja.

Straits Steamship Teint bills discounted 1.140.009,407,95 per cint of the Bank note in

company's government's agreement is seen by observers wears Brok Eirculation

Each

In London. This is the fact ....... 2.631,613,039,215 capital. Current accounts and

contribution would be

pro that Japan still nurses consider Special. deposija

portional to its national budget. able resentment against Britain The remaining 50 per cent for standing aloof when Japan could be supplied by loading was admitted into GATT.

centres in which Australian products wero distributed,

135.218,663,800

United Prew.

The Bank Of England Arab bushessmen and financial

Statement

London, July 24.

The Bank & England state- ment for the week ended July

tive of whether the tramcker is The drive marked the begin- |20, reads as follows:

an addict or not, would po ta ning of a programing to meet compulsory, lengthy minimum now keenly competitive trader Note in circulation...

Pubile deposita rentence

Increased to trader marketing conditions. and an

Private deposita The Australian Government | Goverman, securities minimum for a second og rub- sequent offence and possibly a would hrothe edat of the Other securisteg

Reprints maximum of life imprisonment." | programano with the food iné | 14th -China Mall Special,

durley-China, Mail Spočia,

1,018.01

houses---France-Presse,

Yet

Japan's hurt pride is no doubi, reflected in the mood of its' do- logates at the trade and pay

New York, July 24. mente talks. But it is not dowtination as reported in boice haw cotton exporta ,by Exchange Rates clent reason

prevent Budiness was done in the local:Would 16 *gement Bath sides by the Now York Cotton

the

MESSAGERIES MARITIMES

FO. Box 63*** Queen "Building BWF2000) FAST PASSENGER/FREIGHT SERVICE

on

to

Balling Aug. 18th salling Sept., 10th

"FAST" FREICHT SERVICE

"DONAI" "MEINAM"

salling Aug. 18th sailing Bapt. 21st

to

"CAMHODGE" 1964-08. "LAOS” if the talks falled Exchange for unofficial exchange markat

this and they are realistic enough to season to July 19 were as morning at the soljowing "tales" – renting this, à - put, it will be followe

5.04

Exit Semprat Sterling" "notek (per 1 * 18.30 some time yet before solutions Priisin Australien ridien (per 1 * 10 15 Ali thara': problème böselling bikini Indonesian rupiaha, pár 103) -- -1110 thạc stórlife dred spanded trade canada

can de Fesolved, so quick results same perioder year fre ́not expected in London.