THE CHINA MAIL, APRIL 2, 1940
TREATY DENUNCIATION EFFECTS EMERGING
FEARS IN JAPANESE SILK, IRON AND OIL INDUSTRIES
(SPECIAL TO “CHINA MAIL")
Tokyo, To-day.
WHILE THERE IS NO ACUTE fear of depression in Japan's general export trade as a consequence of the treaty-less situation prevailing between this country and the United States since Jan- uary 26, economic circles expect a falling off in shipping business and imports of vital raw ma- terials, ranging from 10 up to 40 per cent, ac- cording to a survey by the "Jitsugyo Tembo" (Financial Outlook), widely read monthly finan- cial revue, in its Märch issue.
Among the leading companies affected, the maga- zine numerates six big shipping enterprises, in- cluding the well known N.Y.K., O.S.K. and Mitsu Steamship, operating more than 30 vessels of a 400,00 total tonnage, on various routes connect- ing Japan and the United States.
The last available statistics showed a total profit of 14,000,000 yen for those companies for the year 1938. A diminution of profits of from 10 to 20 per cent., it is feared, will result from the treaty-less situation.
On the other hand, the review notes a general optimism in interested circles that sundry exports, although partially displaced from the North American market by the uncertain- ties of the situation, could be success- fully diverted to new outlets.
SILK FEARS
No losses were so far registered in the silk export trade, which repre- sents the most important single item. While plain silk clothes have been losing ground lately to rayon in Japan's exports to America, Japanese silk is more than
found by the magazine to prevail among the big Importers of trọn and oil, the two important pro- ducts of America, indispensable to Japan," probably largely motivat- ed by rumours of an eventual embargo, by the United States authorities in case of a worsening of the political relations between the two countries,
If petroleum ceased to come from the United States, the Japan Petro- leum Co. would suffer the heaviest blow, this company being the leading importer.
NATIONALISM OF THE KREMLIN
(SPECIAL TO "CHINA MAIL")
London, To-day.
According to the Diplomatic Correspondent of the Labour "Daily Herald," the view is held in some quarters that Stalin Is cf the opinion that the lands lost by Russia at the end of the last war were lost in a time of weakness and now that he feels she is strong again, it is time to get them back.
This doctrine, says the corres- pondent, has nothing to do with Bolshevism; It is Nationalism Havas..
***These lands include Fin- land, Poland, Esthonia, Latvia and Lithuania, either wholly or in part.
PRO-GERMAN FACTION IN HUNGARY
(SPECIAL TO "CHINA MAIL")
Paris, To-day. Coming back from Italy where he examined the most delicate international pro- blems the Hungarian Pre- mier, M. Teleki, is facing the most difficult home situation, diplomats here point out.
4.
- The pro-German faction-which re- presents the middle classes 'in opposi- tion to M. Teleki, who represents the big, landowners-have, gained consi- derable strength of late owing to the population's fear of a German inva- sion.
Headed by the former Premier, Belä Imredy, the Opposition seeks a rap- prochement with Germany. Its stand is reinforced by the Nazis' open spon- coring of agrarian reform favouring
THE SMITHS LOSE ONE the middle class against the big land-
The London Gazette announces that Jack Vousden, of St. Luke's-street, Chelsea, originally known as Jack Edward Smith, has changed his name to Chhagon Bhawan Solanki.
The London Gazette also records that Samuel Immanuel Ralph Cohen, barrister-at-law, of Collingharn-road, S.W., and Garden Court, Temple, E.C., intends from March 13 to as- sume the name of Seymour Ian Ralph Craig.
owners: ANAN
DELICATE SITUATION Molotov's speech has further com- plicated matters.
M. Teleki promised Mussolini that Hungary would postpone her claims against Rumanía. The Opposition feels that. Hungarian pretentions may be satisfied in favour of a Soviet ag- gression against Rumania, just as Hungary benefitted from German ag- gression against Czechoslovakia. It will require all M. Teleki's ability to handle the extremely delicate situa- tion---Havas.
ALLIED BLOCKADE OF THE NORTH DELAYED
This does not mean the Allies will indefinitely allow the abuse of terri- torial waters but merely that certain
The eventual suspension of Amer- ica's scrap iron supplies would hit Nippon Iron, Nippon Steel, Ogura Steel, Nakayama Steel, Daido Steel, Special Steel, Amagasaki Steel and ever in demand many other large and small steel
(SPECIAL TO. "CHINA MAIL") there in the form of hosiery, and the manufacturers, according to the
London, To-day. total exports have been rather in-Jitsugyo Tembo.
Diplomatic circles here re decisions which Britain and France creasing. The danger in this field is The Mitsui Bussan, said to be the eventual competition of Shoji, Morimira Guml,
Mitsubishi port that the Allies have ad- intended to announce immediately to the new substitute, Nylon. The maga Hara Gomei, Asashi Silk, Toyo Cotton journed examination of the Norway and Sweden are delayed pend- zine learns that the Katakura Seishi and other firms were.
canvassed by question of intercepting Gering the elaboration of the technical Co., Japan's largest stocking exporter, the financial monthly for eventual man trade in Scandinavia is now attaching more importance to this new factor in the field than to
and that consultations be- the treaty-less situation.
Scandinavian tween Paris, London and the capitals are temporarily interrupted.
Rayon manufacturers, cotton spin ners, and canneries are optimistically looking forward to the treaty-less market, except for some misgivings among pineapple, canners.
The porcelain industry, with Nagoya as its centré, seems to be the hardest hit by the treaty-abrogation. Its trade.. with America, which forms the bulk of its export business, is said to have already registered losses up to 40 per cent.
IRON AND OIL EMBARGO? Most nervousness In view of a possible turn for the worst is
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effects of the treaty-less situation, and all these big enterprises are said their export or their Import trades by to be affected more or less, either in the abrogation of the 1911 treaty.
Havas.
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details.
The delay should not be con- strued as a renunciation by the Allieh of their determination. to tighten the blockade.
DIPLOMATIĆ REASONS. The Allied decision to postpone the tightening of the naval control around Scandinavia came-- somewhat as a surprise.
Informed circles, however, say that the delay should not be interpreted as a sign that the Allies will eventually desist from preventing German abuse of her neighbours neutrality but. rather that it is only due to a desire to work out thoroughly certain technf- cal detalls.
Diplomatic reasons probably also played their pa in the Allied de-
cision-Havas
MORE LETTERS GO ASTRAY
Bucharest, "March Rumanian official circles emphati cally deny that ther are any German military censors in Rumania, or that German, censors are working in this
types of bombs, gas,
(Oop'yright