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DEATH.
NO HOPE FOR COPRA?
Combine That Has Come to Stay.'
.
MONDAY, JULY 20, 1981.
FAR EAST GOLD.
America's Imports Last Year.
GREAT BRITAIN NOT STAGNANT.
Increase in Production Efficiency.
The adverse eriticism of Great
The general economic and finan- cial situation of the United States) during 1980, with detailed descrip tions of the country's external] "Most of the things which alarm trade, basic industries, agriculture, coconut planters to-day are of a transport, communications, and Britain as an industrial and busi- transient character-with other labour conditions, is reviewed in a nosa nation made by M. Siegfried economic abnormalities they will White Paper issued by the Depart-in his book, "England's Crisis," pass away," writes Mr. R. W. Rob-ment of Overseas Trade: "Econo- are examined by the monthly Re- Jon, from London, to the Pacific mic Conditions in the United States view of the Midland Bank for
"But the Com- of America." The report is writ- May-June, which comes to the con Island Monthly. bine, I fear, is here to stay. ten by Sir J. Joyce Broderick, until elusion that most of that writer's At the present time it is com- recently Commercial Counsellor to generalisations "can be set aside pletely in command of the Euro- the British Embassy at Washing as worthless except to the extent pean market. Over-production, ton, and Mr. Arthur. J. Pack, Com-that they help to concentrate at- chaotic economic conditions and mercial Secretary to the Embassy, tention upon weakness in specific On the subject of gold and silver sections of our organisation, as buyers' weakness--all have given it a hold of the market."
the report says:
against the whole." ..Mr. Robson adds that "in a world! In January and August, 1930,
The title of the monthly Review's of combines, Unilever is among the monthly averages of the daily article is "The Brighter Side of the most powerful. It dominates quotations on aterling were a little England's Crisis," and the question the soap and margarine industrise above par. In the remaining it asks is. "Is there a brighter sido of Europe--few if any manufac months the averages showed to the picture?" It replies with now slight discount, the weakness being emphasis that there is. With re
in the last three gard to productive efficiency,' it.
turors of importance are operating against it. Its opera- maintained tions extend over the whole world, months of the year, in spite of the points out that one of the most and it controls almost every sell-fact that during that period in-striking facts established by official ing market-except possibly those terest rates in New York were economic statistics is the substan- lower than those obtained in Lontial increase in output per head, don. Gold movements between the considering industry as a two centres during the 12 months since 1924, probably our best post-
in North America.
whole
Productive Equipment Better.
Growth of the Combine. "The growth of the Unilever Com were so small as to be aegligible. War year, bine can be traced from develop-Total imports of gold by the United ments during the war. Originally States during the 12 months ended
amounted there were two big operators in the last December
to
There are several responsibe fac-. |çopra market-Jergen and Vanden-2396,054,000. (£79,210,800), the
tors, but among them undoubtedly. berg-both Dutch.
During the principal contributing countries has to be reckoned a great improve- war, while the competing firms of being Japan, Brazil, China, and ment in productive equipment.". It is quite wrong to suggest that
man mills...
the combatant nations were other-Hong Kong. wise occupied, these two big con Exports of gold during the same British plant and machinery as a cerns get together and bought a 12 months included over $73,000,000 whole are hopelessly out of date. controlling interest in certain Ger- (£14,600,000) worth to France and Indeed, even in the iron and steal over $86,000,000 (£7,200,000) "After the war, a strong German worth to Canada, and amounted in industry, of which M. Siegfried is so critical, a delegation from the organisation, the Helmer Combine, all to $115,967,000 (£23,198,400) Economic Advisory Council found It is, indeed, only the certainty sprang up, and took control of Preliminary estimates of the stock that British equipment would bear
mills in Czecho-Slovakia, Austria of monetary gold in the United of that disaster that has elicited and Switzerland. It fought States placed the total as at the comparison, by no means to its dis- favour, with that of Germany, the proposal and leads us to look the Dutch Combine, and com-end of December, 1930, atj Czecho-Slovakia, Belgium, Luxem- for general acceptance. No-petition was healthy. But the $4,593,000,000 (£906,600,000), as bourg and France.
sobering prospect.
t
with
Anyone, too, who visits a modern
The
proceas
of
next move was bad-there came a compared
$4,284,000,000 thing but a clear perception of
Jergen-Vandenberg-Heimer com~ (£866,800,000) at the close of 1929. the need to save Germany will in- bination, which gave them control Reference is made in the report British shipbuilding yard or en. duce France. to suffer a net loss of the margarine industry in near-to the silver question, which gineering works will see many of 25 millionis in the coming year, every country. They bought a "promises to develop into an in- achieved by the relatively recent:
mill in Latvia, a controlling international concern of the first instances of striking economies and even in Britain the loss of terest in two big mills in Sweden, magnitude." The principal causes installation of improved plant and several millions of revenue, which and, in the latter end of 1930, they assigned for the remarkable slump, machinery. will have to be made good by got control of the Norwegian mills. It says,' are the general decline in cheapening output and concentrat taxation, should be a sufficiently
world price levels, continued heavy ing production in the conditions Margarine, Union:
coun- most favourable to efficiency has putput by silver-producing "Meanwhile, the Continental or- We should be all the more ganisation had linked up with tries, the abandonment of the silver achieved substantial progress, too, standard by Britlan India, the sale through what la commonly describ British manufacturers-and, zo we quickly sobered when we con-obtain
the famous "Margarine on the open market of Indian sured as rationalisation.
plus stocks of the metal, proposals sider Britain's own internal Union,"
Re-direction of Industry. controlling margarine
for demonetization of silver in and
"Further," distribution Indo-China, Persia and Hong Kong situation. Three weeks ago the manufacture
says the Review, our eyes for a Government demanded power to throughout Europe, and, in the and, finally, the persistence of "when we take
copra market, buying for the mills)
China moment off the older, more serious borrow another 25 millions for of Britain, Scandinavia, Holland, political disturbance in the
can hardly fail to be unemployment Insurance Germany, Switzerland, Austria and However responsibility for they depressed and perplexed indus
price debacle may
allocated tries, we Fund, which will make the tota! Czecho-Slovakia.
between those various factors,, the struck by the progress, truly this "During indebtedness of that Fund 115
Lever period
affect of the decting was heavily amazing in some respects, of new Brothers were creating in the soap felt in the Chinese silver cur-industries. Motors, aircraft, ar- millions. The Government also making industry of Europe the asked authority to extend the came dominant organisation that rencies, which are now at lower tificial silk, gramophones, and system of "transitional benefit," the Dutch-German Combine had exchange points than have
before been recorded. which is a direct charge on the brought into being in the
garine business. Since their chief who deal in copra are how much notices this development, but falls Exchequer, for another
raw materials were the same, it
reduced in numbers. months.
was inevitable. that. the Margarine
The Future
six
+
mar-
market.
be
ever many other products have leapt into positions of prominence in our industrial structure. M. Siegfried
to keep before him the logical.de duction from it. LOKE-On Saturday, July 11, at It is not extravagant to say Union and Lever Brothers should What of the future?
"Our engineers may be unenter- 10.30-a:mathia-residence, No
that these demands represent the friends or enemies. To the discom
come close-together-either Bere (if I may recapitulate) are prising,-unlearned, unpractical, in 29, Upper Pickering Street,
those of have cfficient, inferior to the chief factors which Loke Yan Kit also known as sheer bankruptcy of British fiture of the oil seed producers of brought about this depressed copra France or the United States, but Loke Thau Nam of Chop | national finance, and the outlook the world, they amalgamated thair Cheong Heng and Chop Cheong is made yet more binck by the interests. And thus Unilever was 1. A general inability to buy, machines have established many. Yip Thong, aged. 83. Déceas- ed left 4 widows, 6 zona (Chan fact that the Government holds born, less than two years ago. Tok, Chan. Hoi, Chan Kuan.. out no hope of effective dealing. "No arguments or figures of/ickness. That is a temporary con-achieved only by superior design cars, motor-cycles, and aeroplanes, Chan Hing, Chan Hee and with the situation. It is not gemine are needed to show how ditton and, will presently pass and workmanship; and that British Chan Whye), 3 daughters (Koi ing to reforin the unemployment Unilever, can command the Eure-
2. Huge over-production of oil-for example, are exported in largo Chuen, Moon Wai and Wai insurance system: Miss Bondfeld penn copra market. Even in noraceds and whale-oil, That also, is numbers, side by side with the still
Lan), 18 grandsons and 9 grand-daughters to mourn his loss. Deeply regretted. Fun- eral will be announced later.
Hong Kong, Monday, July 20, 1931,
has confessed as much.
Over-Production Favours Unilever.
Ma
the curious fact is that British
could have been
the result of the world's economic records which
away.
·
mal times, the concentration of so
a temporary condition. The fall considerable exports of older much buying power in the оде To throw cold water on a re-organisation must have adversely in prices to the level of production vehicles such as bicycles and loco- vival of hope, after all this weary all the high gods had combined to
affected sellers' interests. But, if cost, and below, will inevitably remotives."
duce production, and price-levels The Review finds further strik- ing evidence of readjustment in time of hope deferred, is an un-arrange favourable conditions for
will swing back again,
3. The treatment of soft oils so the field of power and transport, grateful task, but it is an im-the advent of Unilever in the raw that they may be used as hard oils, with special reference to the perative necessity that Britons materials market, they could not in place of coconut oil. This ap-national scheme of electrical de Hope for Germany.?
should keep their heads.
This have improved the position
Unilever found it in 1930. The pears to be a permanent condition, velopment-probably, it says, the
and must be faced. A
greatest plan, of deliberate, co- present reaction from sheer de-
over-production of phenomenal
Margarine-makers now can, and ordinated economic, and social re- To-day's news from the Euro-spair is indeed welcome, but Bri- every kind of oil-seed, and of pean economic front is hopeful. tons at Home must not let it whale-off, simply invited Unileverdo, use up to 70 per cent. of whale organisation ever undertaken in of price. To obtain a hardened re-facts," the article sums up, could The Germans, at least, are hope- carry them into feverish illusions, to pay what it liked for copra and oil. It comes down to a question this country. "A study of all thes ful; and a feeling of optimism Meanwhile we out here can do naturally took full advantage of its fined of from whale-oil, costs £6 hardly fail to carry conviction that pervades official circles in Wash no more than await the cables opportunities, and has established per ton. To get a refined, deodoris-Britain is rapidly becoming a vast ington. The proposed mora during the next
days and itself, firmly and permanently as ed coconut oil from copra costa ly more efficient productive unit tdrium, it has to be remembered, still hope that, even for one the most powerful factor govern 15 per ton. It is calculated that different, certainly, from what it
"Unilever completely controls whale-off is £15 per ton. For com-gressive on that account." is only for the duration of one short year, an economic respite ing the European copra market the absolute nett cost of producing was, but not necessarily less pro- year--not one decade as one will be given even to those Euro- the selling price of copra in parison the figures might be ar- might almost imagine from the pean nations who have become Northern Europe. The Marseilles ranged this way: flood of comment and controversy imbogged through their own group of copra buyers is indepen- created thereby. The pessimists idiocy in originating the War. may not be, so far wrong in warning us that, in
E
few
all allied commodities. Unilever,
dent of the. Combine, and provides
2
the
News in Brief.
there naturally take advantage of Nett cost of re- the favourable prices created by fined oil.
the chief market for the South Nett coat of pro-
duction Seas product. But the Marseilles. market absorbs only 100,000 tons Coat of refining
oil.. of copra annually, and the buyere
Normal working of cables with Copra Whale-oil Shanghai and beyond has been per ton. per ton established.
$10
£20
Ten Years Agʊ, ·
18
United States proposal means nothing more than the avoldance of a frightful catastrophe. Ger- many was tottering on the edge
In the Chinese Diary to-day "Feast of Heavenly Gifts."
(From the "China Mail", of July 20, 1921.),
Today's dollar is worth 2/7%. Yesterday afternoon's water polo
la Unilever operations. The report that l'allege Now "The American market is said to proposes to send its own whaling have maintained independence, equipment to Antarctica, thus cut- of a precipice, and had she gone Two Chinese cases of typhoto But I was told in London in Janu.ting out the Norwegian enterprises over (as she probably would) she fever were notified during the ary that, nogoffations had been in and the Norwegians profits in
game at the B.H.K.Y.C, Club-house progresa between Unilever and some significant and disturbing. of the chief American consumers of The domination of the mar-resulted in a walk over for the
The Royale un ket by the Unilever Combine. Wiltsmen. The lowest open air temperature vegetable olla,
would have been a disaster for humidity was 91 at 10 a.m. and 75
would have dragged down with work end, her several of the smaller Cen-
tral European States. That yesterday was 81 degrees. The
finaBy accepted,
Continental Mills.
It is apparent that Unilover fortunately were only able to field plans to hold control of the market two of the players who had been
by balancing whale oil against selected to represent the Club, and
the whole world. The proposal at 4 p.m. The rainfall between The whole aspect of the coconut for a moratorium, if it is these hours was 0.82 Inch.oll producing Industry has altered vegetable oil the other five places had to be In Europe. At one time a large pro This is easy, under the present filled up with bathers picked at even with Vincent Braza during portion of the copra sold in Europe depressed conditions: but it will random. For the Club, Finch modification, the past 21 years General Agent went to British mills To-day, the not be so easy, once the economic worked like a Trojan, but could. For the N.VN Los Angeles, has London mills are crushing less pendulum swings back at it in only manage one goal, and after Le and will be than 1,000 tons per week. The evitably ill at an early date and Hurey had scored two more, the Robert work is being done in the Continen the world regains its buying capa Wiltshires found themselves the
winners by goals to one. Italy milk, The London brokers, city?
some-pro-French
wills at least
are ent
rom
with the