1961-06-23 — Page 1

JARŤ, SUPREME COUT

LINIARY, SUPREME COUPY

Perkins

OUTBOARD MOTORS

GILMAN'S

Comment of the

day

FEDERATION REPORT

THE Chairmun <+f the

Federation of Hongkong Industrien, Sir Sik-nin Chau, has given a compre- hensive 31 Interesting survey of events affecting local industry in the Federn-

Moderato E'ly wind. Partly cloudy with isolated showers.

THE WEATHER At 1 pm of the Observatory the temp was 89 degreas F

and the relativo humid 62 per cont.

CHINA

No. 38000

Establishod 1845

FRIDAY, JUNE 23, 1961.

LATE FINAL

HARE, SUPKEI.

MAIL.

Price 20 Cents.

JETS

TO

SAIGON

EVERY FRIDAY

Phono 37031

BARANAMERICANYE

'Britain reluctant to champion the cause LANCASHIRE: NO UK BACKING?

Chairman

Opposition to Stock Exchange

extension of

ceiling pact

London, June 23.

tion's first annual report. The British government so far "has been

He

DINO outlined

the causes leading up to the Colony's current problems. Most of us are well acquaint-

ed with these events and problems. They have been adequately covered by the Jocal Presa over a perindi of years and it is sufcient to say that the report is n condensation of what has gone before.

41-

Sir Sik-nin states that he is full of confidence, but al the

time he same phasises the necessity beware of adopting a cont- placent attitude towards the problems and ngainst any attempt 20 ignore the danger signala hoisted in Britain and the United States.

warna

The Federation Chairman 9438 that all Hongkong Industrialista "know that they have a responsibility that they cannot shirk - al responsibility that in found- ed on the bronder Interests: of the Colony as a whole.”

A doubt

TATE doubt that Sir Sik-

W

nia's statement is cor- reet. From past knowledge of local industrialists it has often been every man for himself. Luck of Co- operation within the Colony, even among firms in the same trade, is notoriouR. In this respert, the Federa- tion should be in n strong position to assert itself although the danger is that the individualista, out to make a quick dollar, will fail to cu-operate. There

no doubt that in the long run thone who stand alouf will eventually be the losers and in the meantime particular industries and the Colony's economy will suffer.

Probably one of the most important points in Sir Sil- nin's report is that we have a contribution to make to the stability and prosperity of the Far East. And ho adds, "If we (the Federa tlon, presumably) would be among the lenders of the area, we must think and act like leadera."

Big factor

TOTHING could be more to the point. In the years gone by this lack of con- verted leadership, this lack | of co-operation and ten- dency towards individual- lam has been one of the greatest contributing fac- fors which has landed us in

the unenviable position of

+

reluctant to champion the Lancashire cause" in that industrial area's desire to extend the "voluntary" pact with Hongkong, the Economist Intelligence Unit reported yesterday in its quarterly review.

resigns

Mr N. V. A. Croucher

Mr K's threats of war flayed

We'll stay in Berlin

says Dean Rusk

Washington, June 22.

Mr Dean Rusk, the Secretary of State, commenting on the Berlin situa- tion at a press conference today said that Western forces were in the city by right and remained there to protect the freedom of the people of West Berlin..

Mr Rusk sald it was obvious | replied that he would not use s the United States could not ac- cept the validity of any claim to extinguish its position in Berlin by unilateral action.

The review, whose aim is to provide up-to-date

The head of the Hongkong assessment for people with business interests

The Sceretary of State noted Stock Exchange Committee. Mr abroad, said that "with only seven months. V. A. Croucher, has resigned what he

the described as Mr "militant tone" of the speeches life left to the Hongkong-Lancashire volun-from tary pact..: opposition to its extension is Croucher, who had been Chair- made in Moscow yesterday by man fer many years, tendered his Mr Nikita Khrushchev, the So- becoming more and more pronounced.

resignation as a committee meet-viet Prime Minister, and other

Soviet speakers. ing this morning.

IS

JAPAN

LOSING OUT TO HONGKONG

Ikeda

Washington, June 22, Mr Hayato Ikeda, the Japanese Prime Minister. said here today that Japan was "losing out" because it Zaft voluntary restricted fis exports of cotion tex- tes in the United States.

He was commenting in which reply to questions followed his address at a luncheon meeting of the National Press Club.

The Primo Minister mentioned Hongkong 23 еге competitor to which Japan was losing Qut in the United States markel.

in-

"The Hongkong textile dustry is clearly worried, especially in view of falling sales in America, and it seems no extension will be secured by Lancashire without the govern- ment's active support.

"So far, however, the govern- ment has been reluctant tu champion the Lancashire cause. On the other hand, representa- tives of the British texile in- dustry point out that some sort of permanent, or long-term pro- tection is essential if Lancashire is to survive."

Not adequate

the

The review said That three years "breathing spare" provided for in the pact for Lancashire's re organisation "has not been uulequate, and although it is expected to derive rubstantial benefits from the re-organisation scheme later, must be

more protection

secured.

The review noird crease in sules

'the

chairmanship.

CANADIAN $

CREEPS UP

IN HK

MARKET

The value of the Canadian:

dollar in Hongkong rosa by 0.7 per cent from $5.51 yesterday to $5.55 (buyers) this morning.

This s represents a drop of 2.6 per cent from the rate of $3.70 on Tuesday before the announcement to devalue the dollar.

This morning's rate was fix- ed by the Hongkong Exchange Banks Association.

Disappointment

He said that such specches must be a source of keen disap- pointment to those who sought to advance the cause of peace.

"The effect of these speeches, ar the Soviet leaders must have known, can only be to heighten world tensions."

Mr Rusk said that the obliga- tions of the Western powere in West Berlin were clear, and Mr Khrushchov must be given every opportunity as he would be given to avoid a miscal- culation in this matter.

The heart of America's no- tional interest was the position which this country had in West Berlin and its obligation to the people.

Ultimatum

"Demands and threats which create crisis over a subject which involves the vital interests of other people, do not promote: the real peace which the world desires," Mr Rusk sald In a prepared statement.

"The United States and those associated with us are clear and Arm about

tu our obligations ourselves and to the people of West Berlin."

Regarding garment exports to America, the review said the fall in American demand re- mited in "serious problems" in the Colony and that "there are no signs of any real recovery yet

come in- to Britain, but is clear that us

Mr O. W. Reynolds, depression in the

Mr Rusk was asked whether may of the Association said the he would regard Mr Khush- the garment Hongkonit

adjustment was made follow-chev's Will

Russia ing a fractional recovery in the would sign a peace treaty with of the Canadian East Germany at the end of the The seriousness

the buying rate of

market year

as an "ultimatum." He position was well illustrated by dollar on the London the closure of the Kwong Tai yesterday. Garment Company lust month," it added.

then rald "It

the

long as the

не aald the situation was "very dificult and added embarrassing," and that Japan expected coming international con- ference on cotton taxtiles to take its problem into full account.

U.S. VIEW

Earlier, Mr Dean Rusk, the Secretary of State. Bald the overall problem of Japanese textiles ex porte to the United States had to be considered on a multilateral basle at the coming international no- gotiations

The Secretary of State made this comment in reply to a press conference question about talka In which Japan was seeking

Increase A large

In her voluntary quotas on tax. tile exports to the United States.

stated he the way that talke had reached an im разве. He thought they had made some progress. -Reuter,

Puak

Mr would not

U.S. continues,

industry In ruiter,"

Other factories specialising in the U.S. market "are also seriously affected," it said. "These, however, seern to be holding out lemporarily on the huge profits that were made two years ago."-UPI.

FIRMED

Chair-

In London the buying rate] firmed yesterday from. Can, $2.80 to Can. $2.87 per pound Sterling although the selling rate remained unchanged at Con, $2.80.

in Hongkong. however, it was ali qulet in the free market yesterday, according to Mr

statement that

NO

"rather simple and easy word to cover a very complicated and difficult situation."

He said that the statements by Mr Khrushchev both before and after his Vienna meeting with President Kennedy were serious statements and ought to be taken seriously.

But he sald the use of the term such as ultimatum was too simple.

FEEDING TIME:

BY MAIL

Copenhagen, June 22.

A Copenhagon, busi- nossman who spent the weekend In his summer cottage 40 miles north of hare, decided to stay there on Monday, too. Thon ho recalled that his cat had boon laft all alone in his Copenhagen villo with food for Saturday and Sunday only.

By express mail, ho sent two smoked her- ringt to his homo address.

When the fotter the dropped through alit on Monday" morn- ing, the cat smelt the contents, tore open the envelope and happily ato tho fish.-AP.

CHANGE

IN STERLING

London, June 22,

MACHINE-GUN FIRE D. M. Brink, Manager of Deak Britain's Chancellor of the Exchequer, Mr Selwyn

Oran, June 23.

and Co. (H.K.) Ltd.

"People here have adopted a Podestrians in this froubled wall and see attitude because Algerian city on Thursday night of the unsettled conditions," he were sprayed with machine-gun said.

Police said the incident WDS

a reprisal for two recent killings

Mr Rusi said he would also like to nvold 1 "superintive” when asked if he would des- cribe the situation as the most seriota crisis before the West since the Second World War ended.

He reiterated that it was o serious

situation, serious enough to occupy the attention of all those concerned about building peace,

Efforts

He also declined to "speculat on the future," when answering a question on what basis there was for peaceful solution of the Berlin problem.

STORM

SIGNALS MAY BE HOISTED

Local storm signals may ba. holsted - Ister today as the tropical storm in the China

Bes певти Hong- kong. said the Royat Observatory at noon.

Already the Iropical Icas intensified during the right and is 330 miles due south of Hong- kong at B amten milde nearer than its position at 11 pm yesterday.

storm

It is forecast to continue Intensifying slightly and πονο slowly north- northwest for the next 24 hours.

Winds of 45 knots have been reported 100 miles to the southeast of the centre, which is within 60 miles of 14.2 N and 114.2 E.

14

The position of the storm forecast to be some- where 250 miles south- nouthwest of Hongkong at 9 am tomorrow.

PITTSBURGH ROYALTY

Pittsburgh, June 22. The Pittsburgh police radio nel- He said that from 1946 the

work sent out this call to Ita West hux! made a number of

patrol cars: moved to resolve postwar prob-

"Go to the lems and had had little or no co- residence, of Queen Elizabeth Reedsdale-st operation fran the Soviet side. Hilton she says that's her

Over

He cited efforts by the West name. Somebody stole the roast

the Berlin blockade, from her oven."--UPI. Korea, carly negotiations for the reunification of Germany, and

10

settlement

were

1

in East WHAT HEAT WAVE?

Europe.

These

continuing

San Francisco, June 22, effort

solve problems The omelat temperature here peacefully, honourably and Inst Wednesday was 100,8 effectively.

degrees, but not according to sign flashing the temperature from atop the Equitable Life Building.

Had the West had anything like a comparable point of view from the Soviet Union many of those questions would have been resolved long ago, he said. -Router,

What about his

EDUCATION ?

This young fellow is growing

up fast one day he will need

a first class education,

The Manufacturers Life has

a special Educational policy

Lloyd, gave an assurance here today that which will guarantee that Britain would continue to keep Sterling on sufficient funds are available its present parity following devaluation of the Canadian dollar.

for School and University

fire from Z sedan speeding His company put out nominal through a Moslem quarter rates of the Canadian dollar on Three Algerians were killed and the tree market yesterday "for! He told the Association of Mr Lloyd said he was "not four wounded,

the purpose of inuication only." British Chambers of Commerce at all apologetic. We are trying fees.

They were $5.30 buyers and at a luncheon: "We intend to to do too much. $3.70 sellers, and were the as- maintain Sterling at its present "We spent our cavings in two sumed imits of fluctuation yes parity. That statement is in no world wars to defend freedom, terday.

way affected by the

spent money out

to announcement from Ottawa.

all proportion

our CONCLUSIONS

resources since the war to hold the free line throughout the world."

In the same quarter attributed to the rebel FLN, AP,

ighting with our backs to TOOK WIVES, CHILDREN ALONG TO FOOL POLICE

the wall against powerful

antagonista,

In-

Hongkong his right to

A survive but fight it must. Without leadership both in Government and in dustry our vulnerability increases and hard-fisted businessmen and politicians will do their best 'to noc that wo sink unless all join forcen.

If we act on Sir Sik-nin's

tion this would do n gront deal towarda creating a

ARMED ROBBERY-THE FAMILY WAY

Peoria, 18, Juno 22.

Two men were quoted by polica on Thursday as confessing to seven robberies in which borrowing a rute from a television crime show-they took their wives and threo small children with them in order to fool officers searching for the got-away car.

He's a bad boy."

adio

quoted

The ruse worked at least The men sold that on

tols. Later they arrested Mr and Mrs Palm. They said that confessions of seven robberies, netting $1,000, followed.

Attendante

A children's at home to which the children WOTO taken said the Palm described youngsters excitedly

recent

"That is for the short teran," the Chaneelior ald. "But for the long term it is the trends in our economy that matter.

Trefore, it is appropriate

"We have

of

RESERVES

The heat wave-ignoring sign informed all that it was "minus. 30."-UPI.

THE

MANUFACTURERS

INSURANCE COMPANY

LIFE

OF CANADA

+

to consider our balance of pay to maintain Sterling. Mr Ed HEAD OFFICE (Established 1887) TORONTO, CANADA

ments

which

our

On the government's intention

causes said: position,

"Having regard to reserves, to our drawing rights me concern,"

Mr Lloyd said the conclu on the International Monetary sions ho drew from the Fund and to our overseas asseta, figures was that Britain must we are in a strong position to do reduce her overseas military so.

intend to use Liat

defend our

cur➡

expenditure, and also find

"Wo some means of reducing the foreign exchange burden of strength

rency." the cost of her forces,

Britain mun! also reduce On Britain's balance of pay- other government expenditure ments, Mr Lloyd said there wil

account u defielt overacks.

on current last year. The provisional figure was £344 million.

accom- They cald Palm was The younglers were as saying Ute robberles were panied by his

Patricia wife, suggestion on good public lols of fun. But

added: Ann, and their five-year-old zon relations and trade promo- Doddy should be spanked-and seven-year old daughter, Roger Carl Logue, 21 was oc- companied by his wife, Judith

their Ann, and

one-year-old

"We must say, clearly for all daughter,

to hear that a country without his family were

n satisfactory surplus ou its Stocking up by industry led the loot ia a box In thele

provide unlimited quantilles of the other hand exports falled with the licence number of the man stopped their car.

room.

to riso to expected: 'hopes, "We told him wo were just get-away

drug store car' in

But

Palm's non told heald, oven If some of it is tied, and · establishing a decent out for a ride with our familles | robbery, stopped them,

"Thero must be a limit to though there "You are the good reputation in tlio' counteles, and he let us go,” police quoted In the car police found a box guyn and daddy in the bad guợi" | what we can do is that respect," | Ingrovement

he declared. with whom we trade.

Kennett Palm, 22.

containing $150 and three pla-|---AP.

better atmonphoro, sten- ming the tide of criticism, once, giving facts to squash Sunday, soon after they robbed

a iquor shop of $300, a police- | in the car when police, equipped/2ow their daddy used to balance of payments just cannot to very high Imports, but on

nonsensical, Ill-informed Nources of information

Logue and

policemen:

Reuter,

had been SOFINO this year-

加拿大宏利人壽保險公司

Incorporated in Canada az a Limited Liability Company Assots excoed £344,000,000

D.A.C.T. Hancock, Manager Hong Kong Branch Offico

Tel: 31242 1702, Union House,

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Without obligation, please let ma particulars of your Educational, Policy,

Namo Addross

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