CLASSIFIED ADVERTISING
20 WORDS 82, FOR ONE INSERTION PREPAID, $1 FOR EACH ADDITIONAL INSERTION, ADDITIONAL WORDS 10 CTS. PER WORD PER INSERTION
$2
Americans Paying More
Washington, July 6. The American people paid necessities of inore for many life as the first week without O.P.A. price control drew to n. close and Congress got sot for | a showdown on whether to re- enact the regulatory legislation. Although some of the nation's major cities and rural areas are
THE CHINA MAIL, MONDAY, JULY 8, 1948.
U.S. Dollar Said Reaction To- To Be Overvalued Canadian
London, July 7, 20
The world seems to be dividing into two camps on the question whether the U.S. dollar is over- valued or undervalued. In Britain and the sterling area the dollar is regarded as the most precious currency' which must be carefully husbanded."
land
Dollar Move
Paze
JARDINE, MATHESON & CO., LTD.
SHIPPING DEPARTMENT
16 Fedder Street. Tel, 30311
General Managers.
INDO-CHINA S. N. CO., LTD.
But many other countries in- British--which weakens the dollar in the export Sweden Inve Replies are awaiting at our unaffected appreciably, there including Latin America, Switzer-against sterling offices for Box Nos, 62, 81, 82.88;'ample indication that most of dollars than they can apend, any-tivity also rises faster than Bri-
more markets unless American produogo at present, and some of them tish, which remains to be seen. significantly including Sweden American Opinion tors in Canadian gold mines will 8.Ş, MAUSANG
91, 95.
TUITION GIVEN
DON'T miss the chance-please Typewriting come and join our Course, which may be considered the most perfect one, in long- kong. We adopt blind touch sys-, tem, and our Summer Rapid Corn-1 mercial Course will commence on the 15th inst. 8, Queen's Road, Ct., 2nd floor, Nanyang Commer cial Academy.
DANCING LESSONS
the country is not so fortunate. Some industry Apokesmen said prices are still under the Black market levels and would begin to ense downward.-A850 ciated Press,
FOOD INDEX
New York, July 5. Dun and Bradstreet Inc.. parts its weekly wholesale fool price index reached the highest general level since July 29,
1920.
Advances were registered in flour, wheat, corn, oats, barley, larii, butter, cocoa, beans, steers, sheep, lambs. The anly
were in expr LEARN to
at Alice's. declines daner *Lessons given individually under potatoes,
her expert supervision. Don't miss this opportunity. Why remain wall-Bower all your life? 29, King Kwong Street. (2nd floor) Happy Valley.
East.
Karments.
Betablish
Other commodities were un- changed.-Associated Press,
NOTICE TO CONSIGNEES
S.S. "SAMDART"
and Switzerland who know a lot shout
cunvinded currency-aro that the dollar is overvalued. Even in Britain many quite well- informed people have doubts about is
future,
unanimous
SAILINGS
„to Shanghať a.m. 7th July
..to Shanghai 10th July
New York, July 7. decrease in the The
cost of United Statra doliara in terms of Canadian currency was interpret- ed as a result of a huge Canadian accumulation of U.S. dollars.
At the end of 1946, Canada 8.8. KUTSANG held more than $1,500,000,000 in
5.S, WINGSANG and United States dollars. The Canadian action, hit Cana- din
gold mines, American inves- now receive $35.00 an. qunce which is the official Treasury buy- ing price, instead of $38.50, an ourco which they had been re-
*** | M.V. HICKORY CREST celving in Canadian funds.
Mine Mcials sild some mines).S.S. KUTSANG would have to shut down. Gold | prodution is a major industry in
All the above subject to alteration without notice.
Immediate repercussions
The crucial question, however, ein what, Americans themselves think and will think about, the dollar. Despite the auggestions by economists in several countries that the dollar is overvalued, and In Switzerland dollar notes are despite the pressure from Western traded at 3.6 Swiss franes and the U.3. gold producers for Ah higher Canada. illicit rate for "private compensa price of gold to rece
recoup increased tion payments" in the U.3. is
officials appear about 3.2, as against the official production costs, U.S. Treasury rate of 4.3. Quotations of U.S.gold's price will remain securities on the Swiss bourses Monetary, authorities in the U.S. imply a rate of between 3.4 and and other countries are undoubted
the uptrend of ly concerned nt This contrasis with Paris, where prices and wages in the US, but dollar and other international so most U.S.
officiala Government eurities are generally quoted not take the line that the dollar will below but appreciably above thele retain its
gold value and parities at the official exchange that any adjustments, must thus rates because, whatever the dollar may be, French investors. regard came by altering other currencies the tent will bo whether the franc as overvalued at its on-against the dollar. cial rate although it
it will not ne-level of conta
Can be stabilized cessarily remain so when supplies after the present phase of wage in France Improve,
Increases in
in completed, since to The discount on the dollar it,
provide a stable element to which Switzerland partly reflects the res other currencies can be
Arbitrage trictions on Swiss
frane's own unique under valuation against
came
also
S.S. WINGSANG
ARRIVALS.
IN PORT
from Sandakan Bth' July
Custodian Wharf .T.8.K. Whirr. Kowloon Wharf -N..
Agents: GLEN-LINE LTD.
that were expected in the newsprint intending Passengers are requested to register their names as $36. field. A large proportion of the car as possible in advance of the umo at which they wish to leave
newsprint used in the United States is produced in Canada.
Announcement of the revalua Lion when Wall Street was closed for the week-end.
S.S. NELEUS No transactions in foreign ex-
S. SAMSETTE change were made and no. Ameri- can dealings in Canadian securi S.S. PROMETHEUS Assdciated Press! Lies will be ntado until Monday-
and the the dollar must anchored,
But gold. Lhroughout the war the Swiss au- thorities have been most grudging
their purchases
against Swiss francs.
he
of dollar
rate is recognized U.K.
Swedish Viewpoint
SHIPPING MOVEMENTS
Arrivals
Yesterday: 11.M.S.
arrived from United Kingdom-Holts.. due from United Kingdom mid July due from United Kingdom late July
Managing Agents:
AUSTRALIA CHINA LINE
3:S. SJOBRIS 'S.S.. NEWBROUGH
Vindex, M.V. DEVON
stabilized ngainat goods and not from Kie. R.F.A. Fort Dunvegan against gold. the U.S. from Shanghai, I.D.M.L. 1105
In even more than here the frem Macao, and 9.9. Neleus from
Scheduled Arrivals focus of international trade. Despite various officials and un- Tomorrow:-Fuyo Maru from orial British calculations
that Ujina..
The Swedish economist Per sterling, is
is urdylood against Jacobsson, internationally known the dolla
that iter Argues rent increases U.S. wage
Departures
..Discharging B-18 due from Melbourne 11th July due from Melbourne late July
Agents for PRINCE LINE LTD.
S.S, SAMTREDY
HALF A MILLION MEN'S SECOND-HAND JACKETS and TROUSERS suitable for Hongkong trade at FOUR SHILLINGS each.
Comignees are advised that Thousands shipped to Middle chims for loss of or damage to
at its present rats. Yesterday:8.3. Kutsang for cargo ex the above vessel which
as the Economist of the Bank for U.S. oficials (ripity) do not exShanghai, L.C.I. (1) 218 for S.S. ASPEN PARK Internationa! Settlements, seems pec: the British to alter the pre-Canton, Fort Sandurkey for Syd- Quick shipment of pressed arrived on 21st May 1946, must balts of one thousand assorted reach this office not later than to thin that even sterling will sent rats. As regards other curney, and U.S.S. Warrick.
21st July 1946 after which date become stronger than the dollar.rencies they point art that th Scheduled Departures
their cur- Bretton Woods Fund agreement no further claims will be entere
rates. anyway
contemplated that initial tained.
the really significant index for exchange rate nas would be exchange purnoses, will be about 30 per cent above pre-war.
Bri Reuter. tain has the further advantage of the 14 per cent depreciation of terling at the outbreak of wor cent against the (it was 17 old dollar parity) while all other countries have margin -of 10 to 20 per cent in hand because of The dollar a pre-war ovvaluation- Ile says that pre-war world prices verg ultimately dominated by
confirmed credite in payment of any quantity on an English Bank,
M. Nawman, (Contractors)
Ltd.
Heap Street, Maucheater 7. England.
Cabe Address Harbinger.
JARDINE, MATHESON & CO., LTD.
GENERAL MANAGERS, INDO CHINA S. N. CO.. LTD.;
DE LA RAMA LINES
EXPRESS CARGO-LINER SERVICE
M.V. "MANGALORE"
....Due HONGKONG 15 JULY
M.V.."DONA NATI" .......Sails from NEW YORK JULY 2
Sails from SAN FRANCISCO M.V. "BENGAL"
JULY A M.V.. "DONA ANICETA" ...Lunds NEW YORK AUGUST
Via PACIFIC COAST
Der
sterling prices. Unilateral increase
ת!
more
OT
Today: S.S. Mausang for San- for dakan, R.F.A. Fort Rosalie
II.M.S. Vindex for experimental Kure, and less
Singapore.
Military Movements Hit Wuchow Trade
Canton, July 6.
in US. wage costs thus inevitably Trade in Wuchow, principal city and river port of
entailed disequilibrium in the
American out and price atruc ture, and this is the "natural ex- planation" of the high unemploy ment which still prevailed in the
United States in 1939.
In Britain where the dollar is hard officially regarded as very currency, many people believe that the world's gold price must even tually rise, Whether or not they recognise it, that equally cut-be cause the British authorities have
no intention whatever of depre-
THE DE LA RAMA STEAMSHIP CO. INC. clating sterling against the dollar
Pedder Building 5th Floor
G.P.O. Box 42
Hong Kong
Cable Address:
"RAMA"
DOUGLAS STEAMSHIP CO., LTD.
S. S. "Hai Yang"
Sailing for Swatow on or about 16th July
Subject to alteration without Notice..
For Particulars of Freight & Passage.
Please apply to:--
DOUGLAS LAPRAIK & Co.
General Managers.
P. & O. Building. 5th floor.
Q:
American wage rates are at pre- sent rising milich faster than
BRIDGE NOTES
Kwangsi, has been hard hit by continuous troop transportation, which has affected nor- mal flow of trade, according to reports reach- ing here today.
The 8th, 13th, 1st, 93rd and 64th armies all passed through Wuchow en route to Canton for the north. Junks, toybeats, diesel engined craft and other vessels are commandeered for troop transportation. Shipping companies suffer losses in carry- ing troops, as the payment from the military authorities is not suflicient to cover actual cost and outlay.
New High For Shellac
Calcutta, July 7 The shellac market price in Calcutta-the world's only part
manufactured shellac exporting touched
a new post-war high of $61 per inaund (82 2/7 pounds) The latest movement down as some dealers predicted" a con- from Wuchow is the 83rd army. I tinued riao. A part of the 116th.division of
Today's crime shouldn't be hard that army is reaching here en to spot:
route for Manchuria, of whom many officers and enlisted men nativas. of this division ate
South, Dealer Neither side vulnerable.
8. AQOBI H. 4
D. KJ 5.
QJ96
B. 7 574
H. Q 193
C. 0 8 7 4 2
3. KJG *
17
N
2. K 6 2
1
ED A 10 6
3
S
10 J
0.7 64
EA 10 8 7 5 D U
CK 10 8 43
Tel. 23755.
The bidding:
South
Pass
201
Wert North 18 Pass Ракв 4H
Enst
Pass
Pass
Pask
CHINESE SHIPPING DEPT.
20 Connaught Road, Central. Tel. 24639.
BEN LINE STEAMERS LIMITED.
*
SAILINGS TO US. VIA STRAITS.
FREIGHT ONLY.
"BENLEDI", loads for London and Hull about Mid July "BENLOMOND" loads for London about Mid August
VESSELS DUE
about 10th July bout end July
BENLEDI" "BENLOMOND".
*
For particulars apply to: W. R. LOXLEY & CO. (CHINA), LTD.
York Building
Tel. 94165.
SKOLFIELD LINE
A
S. S. “BARBARA C”
xpected to arrive from Amoy about 7th July
Salling for Manila about 20th July E. GERONDAL & CO., LTD.
Agents.
Union Building
Cargo Booking Agentas
Tol. 38937
Hin Fat & Co., Ltd.
8, Des Vebar Road, C
Tel. 25558
A
.duc from U.S.A. mid- July
Also Agents for:
.......due from Vancouver about 10th July
BUTTERFIELD & SWIRE
AGENTS:
CHINA NAVIGATION CO., LTD.
M.V. "YOCHOW" STBINAN"
S.S. "EATSHAN"
SAILING TO SHANGHAI
2 p.m. 8th July
2 p.m. 10th July
SAILING TO CANTUN
6a,m. 9th July
Subject to alternison without notice,
For Freight and Saloon Passages all lines, please apply is
BUTTERFIELD & SWIRE
Connaught Road, Central, Telephone 30331 (Private exchange)
Ship
PENINSULAR & ORIENTAL STEAM NAVIGATION COMPANY
"SAMVANNAH"''.
Among the contingent which financial interests who are buying "HICKORY MOUNT": rived here were over 100 sick soldiers, who are awaiting medi- al attention. About 14 died on ' the way from Wuchow to Can-
Ship
"SAMARKAND'
A spokesman for one of Cal- cutta's largest shippers and the reasons for the runway market were increased world demand "HONG KUENG"
and since the end of the war speculation by "extremely strong and hoarding stocks in anticipa tion of higher prices.
in risn He said also the general
1s
tho." reflected in being shellac Industry. During the wat Wuchow it now the lending all India's shellac was purchased. city in Kwangst following the under Governotant control at a destruction of Kweilin and Liu-celing of $22.49 per maund for
countrica. chow by the Japanese last year. shipment to Allied
The control was removed last! Businces in Wuchaw is bad ow- ing to the general depression in May but shellac prices had be gun an upward awing and have South China and shortage of been climbing ever since~A589- shipping. The cost of living cisted Press,
ton.
there is higher than that of
price
From
Bombay Bombay
كليلة
Loading for
Singapore & London'
Due
In Port Discharging Mid-July
Ready
Mid-July
BRITISH INDIA STEAM NAVIGATION CO., LTD.
PASSENGERS ANY FREIGHT TO INDIA
Canton by about 20 per cent Steel Prediction EASTERN & AUSTRALIAN STEAMSHIP CO., LTD.
INT Dhi especially foodstuffe.
However, the buildings dam-
Canton and
New York, July 5. West opened the Queen of clubs, aged by bombing have been re
Steel prices will hold un- dummy winning with the Ace. paired or rebuilt. The city is.
in the immedinte ap changed
metal- The low heart was returned, and cleaner than
the national sur future, South won a fincase with the pears prosperous on the
working paper Iron Age pre- soven. A low club was ruffed with
face.
dicted today although they may avance over the long pull.
dummy'a Jack, and the nine of There will be', further troop hearts was returned and won by movements via Wuchow, because South's ten. Another low club was the troops in Indo-China and ruffed by Dummy's Queen, and a Diamond was returned from the Yunnan are being sent to north China and Manchuria-Asso clated Press.
The paper said the industry in the near future anay raise the price of some steel pro ducts but only those which OPA had indicated are due for fur- ther-price relief.
dummy
East took the diamond Acc, cashed the spade King, then led
New York, July 61 - his low spade.. West took the
"No steel company would be second round of spades and led his Railway express shipments to last club allowing East to ruff and from New York which expected to stop out in front with the heart King. The con- stopped June 27 were resumed with a healthy prica raise for
thus
: presumably after settlement of a fear of the public constro" and one trick. A good bridge detectivo can say dispute with employees Asso- the possibility that such actiou
ther the crime lay in the ciated Press.
tract was
whether
Bet
of In the play. Decide for
brzeit before you read on.
might contribute to revival of OFA or almiliar logislation," Washington, July ‘6. Iron Age said. The crime was in the play, for Thomas vice-president of South should have made his con- the 010, United Auto WorkertThe paperaddod "over the track The misfortune which Union returned from Russia antilong pull, taking in probably the avertook South was easy, to fore. from us next six to 12 months; stoc sco and equally easy to forestalling track bodies of wood because Prices are expected to be ad- The simplest method was to ro- of a steel shortage Associated kanced on most items.—Ab$0-
keng cinted Press. turn a diamond from the dummy Press
at the second trick. Thereafter.
Bouth could continue with the τα μπρ
The Civillan'? plan of ruffing binbs, with honours and returning to his hand ministration and
Ith der trumpa. When the pro-chinery C918 WAR complete, South could worth 168 return to his band safely to draw par cente
and
kësociated
Passengers and freight to Australia.
For full particulars upply to ̧ MACKINNON, MACKENZIE & CO. Telephone Nos. 27721-4.
BLUE FUNNEL LINE
SAILING TO PORT SAID, LIVERPOOL VIA STRAITS,
TEUCER
NELGUS
MENELAUS
7th July
15th July
31st July
VESSEL QUE. MENELAUS from U.K. vin Straits HICKORYBURN
16th July
31st July
For Passand
Freight Particulară, apply to:---
BUTTERFIELD
SWIRE, AGENTS