DE
LA RAMA LINES
EXPRESS CARGO LINER SERVICES
TO AND FROM PACIFIC & ATLANTIC COASTS
VESSEL
S.S. PANAY
DUE
In port
M.V. TRAVANCORE
M.V. DONA NATI
6 Sept.
27 Sept.
LOADING FOR
Manila (Iminerlinte ·
Discharge) Pacific Coast via
Shanghai Pacific/Atlantic Coasts
THE DE LA RAMA STEAMSHIP CO. INC.
reddor Building
TEL: 23076
BUTTERFIELD & SWIRE
1. CONNAUGHT ROAD CENTRAL Telephones: 80831-8 Private Exchange.
Agents: CHINA NAVIGATION CO., LTD.
"ANHUI"
"PAKHOT"
"NEWCHWANG”
"FENGTIEN*
"KWEIYANG”
"ANHUI"
"NEWCHWANG"
"PAKNOI"
"KWEIYANG"
"FENGTIEN"'
"FOOCHOW" "NANCHANG"
"TATSHAN”
"ATREUS"
SAILINGS TO
Amey & Swalow 10 on. 4th Sept. Singapore 4 pan. 6th Sept. (No Passengers) Shanghal 4 p.m. 7th Sept. Singapore & Penang 2 p.m. 11th Sept. Swatow & Bangkok 2 p.m. 12th Sept. ARRIVALS FROM
Singapore 5 p.. 3rd Sept. .Foochow & Swatow a.m. 4th Sept. Tientsin & Taingtao 7th Sept. Bangkolt, Salgon & Swnlow 7th Sept.
Shanghai 7th Sept. Singapore 8th Sept. Singapore & Salgon 11th Sept.
CANTON RIVER LINE
Salla 11 a.m. 3rd Sept. Arrives 2.30 p.m. 5th Sept. Sails 4 a.m. 7th Sept.
Arrives 2.30 pan. 9th Sept.
Agents: BLUE FUNNEL LINE
"PROMETHEUS”
"SAMJACK" "GLENSTRAE" "BELLEROPHON"
"BENRINNES"
"EURYBATES"
"SAMOA" "SAMAFFARIC"
U, K. SERVICE
Sailing
7
Liverpool
ΕΟΣ
15th Sept.
Port Said,
via Straits. do
From
late Sept.
Arriving
4th. Sept 5th Sept.
1st week Sept. 2nd week Sept. 9th Sept.
3rd week Sept. 3rd week Sept.
UK. via Straits
-do
-do- -do
Chrom
-do- dom
ORIENTAL LINE, LTD.
Agents:
AUSTRALIAN
-
Salling
"TAIPING"
F
"TAIPING" "YUNNAN""*
5th Sept. Arriving
4th Sept.
Mid Sept.
For
Sydney & Melbourne
From
Australia via Japan. Australia
All The Above Subject To Alteration Without Notics. For Passage and Freight Particulare Apply To The Above.
DOUGLAS STEAMSHIP CO., LTD.
......
S. S. "Halyang" Sailing for Swatow & Foochow on or about 6th Sept.
Subject to alteration without Notice.
For Particulars of Freight & Passage. Please apply to:-
DOUGLAS LAPRAIK & CO.
General Managers.
P. & O. Building, 5th floor. Tel. 23755.
CHINESE SHIPPING DEPT.
20 Connaught Road, Central. Tel. 24699.
TAK CHEONG SHIPPING CO.
s.s. "MAIWARA”
Loading on September 7th for HAIPHONG via MACAO. Sailing on September 9th
S.S. "EDNA" Sailing on September 3rd 6 p.m. for
FORMOSA via SWATOW
For Freight and Particulars please apply to:--
TAK CHEONG SHIPPING CO.,
20, Des Voeux Road C., 8rd Finor,
Tel. 25180
THE CHINA MAIL, TUESDAY, SEPTEMBER 3, 1946.
Bull Stock Markets JARDINE, MATHESON & CO., LTD. Expected To Resume
London, Sept. 2.
(By Sydney Gampell, Reuters_City_Editor) The strongest argument for expecting that a bull market in both London and Wall Street will
Money Market
shortly be resumed and continue (though Review
London, Sept. 2.
SHIPPING DEPARTMENT 18 Pedder Strook
Tu, 80011.
General Manageri.
INDO-CHINA S. N. CO., LTD.
|S.S. "WOSANG"
5.S. "WINGSANG"
doubtless irregularly) for some time-perhaps for years-is that neither market yet seems fully to have discounted the permanent loss in
In spite of the low level calling iss. "WINGSANG" money's purchasing power on which all caplin by banks for their monthly SS. EMPIRE PERLIS" tal values depend.
makeup, rather
stringent condi-
By permanently enlarging the monetary national tions prevailed on the money mar-
ket during the early part of the 8.8. WOSANG income as compared with pre-war, that should week,"
S$, "EMPIRE FARRAR” Normal sources keep equities around a still higher plane, be-,
were not toss "TSANG" well supplied with funds and the cause equities are highly geared to the mone-position was not helped owing to S.S. "EMPIRE WITHAM” tary national income.
the lack of bill maturltica.
Treasury deposit receipts and bill payments called for a substan- tial amount of credit and a fairly large scale special assistance was Decessary.
ex
The Bank for International Until recently the stock Settlements and others have pro- pounded strong arguments against expecting any subatantial defintion of commodity prices (which means any substantini revaluation
of money' purchasing power). One is that prices in gold are still low: Their wartime inflation has more- ly offset the extreme deflation of 1030/33, when dollar and sterling devaluation, aggravating an a
price ready extremo commodity
brought international deflation, wheat prices for example to the lowest levels in gold since the days of Queen Elizabeth,
change, because of a 100 per cent. excess profits tax, was geared substantially to a prewar plane. Now it seems to be in transition to a postwar plane which, taking an average through booms and. slumps, will be, in the opinion of some of Britain's bralnicat statis- tlaiang, more than double the pre- war plane fully one third bigher now.
Both the United
Dr
Late Stage
SAILINGS
to Saigon, Singapore & Penang 8th Sept. to Shanghai 10th Sept. ARRIVALS
IN PORT
from Shanghai 7th Sept. from Shanghai 10th Sept.
Kowloon Dook
Kowloon Dock Kowloon Wharf GS. (Ben Lino Berth) Kowloon Wharf 5N.
Subject to alteration without nažios.
All Extending Passengers are requested to reglater their names na for da possible in advance of the time at which they wish to leave
Agente: GLEN LINE LTD.
The subsequent elackening of deposits, revealed in the Bank of England return following special assistance, was a partial explana tion of the improved position.
5.S. "PROMETHEUS” The turnover on Thursday was SS. "GLENAFFARIC" reported to have been largo but M.V. "GLENARTNEY" accommodation was
tion was easily obtain-M.V. "GLENSTRAE” able. Business in bills was con fined mainly to October maturitics. Applications for the £150,000,
Even allowing for some defla-.000 Treasury bills totalied £208,- tlon of commodity prices from 000,000, the market receiving their present lovel-though cer about 44 per cent of its applica- tally not back to prewar lovelations Router.
States and British Treasuries are as dead sot against deflation as against in one must also allow for gradually
deflation would tion-because make the physical burden of their ugo national debts insupportable, could withstand deflation Business because private indebtedness. for and atock ex- example farmers change borrowings, is incompr ably lower than in the nineteen in- But Government twenties. debtedness is huge.
Closed Market
Anyway. It is difficult to so how the governments could pro- eure deflation even if they wanted it, which they don't.
of the argu- The remainder ment is perhaps clearer for Lon- don than Wall Street (because exchange control makes Luon "A closed capital market") but t acems largely applicable to Wall Street also.
What keeps the London stock exchange prices from substantial- ly falling is cheap money; what may keep them rising is the lose In monev's purchasing power.
BEN LINE STEAMERS LTD. s.s. "Empire Witham"
rising productivity and preciably lower average of un- employment than pre-WAT--it only because, failing anything better, Owen 20 much the country which as Britain does can-
always get
Get to work to pay some of its debts.
The present prevalent bearish talk largely
reflects the wide spread belief that this is the late stage of the ball market which started in 1940 and that no bull market can be expected to last than that. This much longer lowever may be a misreading of
that charts. But
highly the technical matter requires eoparate discussion-Reuter.
H. K. Trade With
Australia
Sydney, Sept
The Australia-China Association has received from Chinese per chants and importers in Hong kong and Shanghai 20 requests for its aid in making contact with Australian exporting houses from which they could obtain between and 300 different Australian commodities.
250
any
·
London And
India Markets
London, Sept. 2.
The Financial Times compares the Coleutta and London stock ex- changes in the year since the end of the war and also over the war period, saying that the compar. is particularly interesting. Zol. lowing the break on the Bombay
change during the days.
past few
duo from UK. 6th Sept. due from UK. Mid. Sept. due from U.K. End Sept.
loads for Itotterdam, Antwerp, Amsterdam and London about 27th Sept.
Managing Agents: AUSTRALIA CHINA LINE
M.V. "KAFIRISTAN" arrd, from Melbourne discharging Buới Ai loads for Shanghai mid Sept. and for Sydney, Melbourne, Adelaide carly October..
S.S. "PERIOD“
due from Sydney 28th Sept.
Agents: PRINCE LINE LTD. Chinese Freight Agents; CHEONG FAT CO.,
54 Bonham Strand E. Tel: 20037.
Agents: THE WESTERN CANADA
STEAMSHIPS LTD.
During the past year, equities 8.8. HASTINGS PARK
................... arrd. from Vancouver-A13 Buoy, Calcutta have risen twice as S.S. "KITSILANO FARK" due from Vancouver/Shanghai 12th Sept. much as London, for example, the Financial Times' Industrial index has risen 20 per cent from 132,6 at the beginning of August, 1945 to the peak of 169.0 in mid-June in 1946 (the day following the an- nouncement of the United States loan), while the index of variable yield securities, compiled in Cal- cutta, advanced 40 por cont from
low of 253.7 in August,
1945
to Ship 357.7 at the end of June, 1940.
Over the war
perlod also, the | "ATREUS” London ordinary sharo values "SAMETTRICK" • KARACHI & BOMBAY elfabed only about 37 per cent which is much less than Calcutta's "BENALDER" rise of 164 per cent.
PENINSULAR & ORIENTAL STEAM
NAVIGATION COMPANY
"TREVETHOD" The main basis of the greater | "GLENIFFER" rise in Indian share values as
Ship by the considerably greater mone tary inflation in India but the "SAMSOARING" British 100 per cent excess profits tax helped to restrain London share values by preventing dis- "ributable profits after taxation from rising-Reuter.
It was stated on behalf of the having arrived from UK. via association that there is scarcely compared with London is primar-
fleld in manufactured and Porta consignees. of cargo ate processed products from which hereby notified that all goods are
they ar
are not seeking to import. In being landed and placed at their addition they are, of course, scek risk into the Godowns of Theing many food lines. Hong Kong & Kowloon Wharf and Godown Co., Ltd., where delivery, may be obtained as soon as the goods are landed.
A feature of the requests was the frequent expression of con- fidence that, when present obstu- cles have been removed, trade be- tween the two countrios will flourish.
No claims will be admitted
The Chinese merchants stated after the goods have left the go- that while they realised that the downs and all goods remaining scarcity of many goods, the short- undelivered after 8th September, age of shipping space, and other
BRIGHT COPRA PROSPECTS
From
U. K.
U.K.
U.K.
U.K
Loads For
U.K. via Straits
DIJE
3rd September 7th September Early September
:
October October
Ready
Mid-September
Accepts cargo for LONDON, ANTWERP & ROTTERDAM "SAMNEAGH" SINGAPORE & BOMBAY 3rd September
Cargo accepted an through Bill/Lading
for Karachi and Persian Gulf ports.
BRITISH INDIA STEAM NAVIGATION CO., LTD.
Passengers and Freight to India
All broken, chated and dam-to Chins, they wished to makes Report" in its weekly veld EASTERN & AUSTRALIAN STEAMSHIP CO., LTD.
Washington, Sept. 2. The copra crop is a brightening 4 pm. will be subject to rent. hindrances would delay the expor- pot in world fats and oils pic-
of Australian commodities the
review of commerce and industry.
The magazine
says shipments from the Philippines are showing "EASTERN" & ache on 6th September, 1948, at mencement of trade immediately sharp in war tonanse this
increnses and may reach two
they will
be
nged goods are to be left in the their contacts with Australian godown, where
Arms now. mercantile
order to examined by Messrs. Anderson lay the groundwork for the con-
10 am.
that was possible.
Examples of the products sought year and be back to normal next To comply with General Bond- aro: Sulphate of ammonia, win-car.
The World Report continues ed Warehouse Regulations con- dow and plate glass, motor acces- signees must tave in attendance sorics, cinematographic and elec- "the United States will buy all a Revenue Officer when damaged trical goods, leather. paper, bever- copra the East Indies can export dutlable goods are examined. ages, drugs and chemicals, metais, during the next year."--Associated
galvanised and black Press.
machinery,
All claims against the vessel; iron piping, copper and brass rods, must be presented to the Under- canned food. barley, flour, oats. signed within ten days of the butter, margarins, and milk pro- ship's arrival, or they will not be ducts. recognised..
No Fire Insurance will be ef- fected.
W, R. LOXLEY & CO. (China)
LTD.
Hong Kong, 2nd Sept., 1946.
NOTICE TO CONSIGNEES HOLDING
P. & O., B. I. & E. & A ̧. BILLS OF LADING-
New York, Sept. 2, The food component of the Ąs sociated Press Index of 35 whole- Washington, Sept. 2. sale commodities advanced to a Coptroller of Currency reports peak of 125.03 from 124.07 the that the national banks' surplus provious week and 85.20 profits and reserves increased ago. The index as a whole, how- $103,100,000 in the first aixover, declined 74 the previous week months to total $3,190,088,000 and 108.04 a year ago-Associated Associated Press.
Press,
AMERICAN PRESIDENT LINES LTD. Speed Frequency-Dependability Refrigeration Special Cargo Oil Tanks-Cargocaire--Specia
SAILING FOR
Year
Los
B.S. PRESIDENT MCKINLEY” 4th Sept. San Francisco. S.S. "GENERAL W. H. GORDON" 5th Sept. San Francisco. 8.3. “HANNIBAL VICTORY" 7th Sept. San- Francisco,
Angeles, New York & Boston.
THE SWEDISH EAST ASIATIC CO., LTD. Messrs. Goddard & Douglass.S. "PRESIDENT POLK"
Outwards
M.V. "TRAVANCORE” .....................
M.V. "NAGARA”
ELV, "MINDORO"
M.V. “NAGARA”
duo Hongkong 5th Sept. ........ đụa Hongkong: early Oct. Homewards.
loading and half. Oct. ................ loading. lat huif Oct
Loading for Port Said, Marseilles, Antwerp, Rotterdam, Copenhagen, Oslo- & Gothenburg. For further particulars, apply to:-- GILMAN & CO., LTD. (Shipping Dept. Phone 27871).
will attend at 10 am, on Mon- days and Thursdays within the free storage period to survey damaged cargo, and consignees are requested to have their representatives prosent. Unleas
10th Sept. Manila, Singapore, Fenang, Colombo, Bombay, Suez Port Said, Alexandria,' Naples, Genoa, Mar- solltes, Now York & Boston,
Colombo,
consignees reprezentatives are 6.S. "LOUIS MCHENRY HOWE" 20th Sept. Singapore,
present at the Burvey no claims can thereafter be admitted.
MACKINNON, MACKENZIE & Co.
Agente:-
P. & 0, B, N, Co.
B. L8. N. Co., Ltd.
E. AA, 8.8. Co., Ltd.
Bombay, Buez, Port- Bald, Alexandria, Naples, Leghorn, Genoa, Marseillés, New York : Boston
'For Famage and Freight apply termin ERICAN PRESIDENT LINES LTD..
SHIP
SHIP
“NELLORE"
FROM
Australian Ports LOADS FOR
SYDNEY
Passengers & Freight
For full particulars apply to
DUE
3rd September
READY
16th September
MACKINNON; MACKENZIE & CO. Telephone Nos. 27721-4.
MAERSK
LINE
MS. "MARCHEN. MAERSK”
Loading for Los Angeles, Fatiami, Baltimore, Philadelphia, Boston
and New York .........
mid Septembar.
for Particulars plesso SDDIY KO!~~
JEBSEN & CO., Agents
Pedder Building,, 7th floor. (Shipping Department Tel No. '22869)
BEN LINE STEAMERS LIMITED.
BAILINGS TO U.E. VIA STRAIT), ・・
FREIGHT ONLY.
"BENRINNES” loads for UK.
second half. Sept.
VESSELS DUE ANNA
"BENCEUAUKAN” "EMPIRE WITHAM?
mid. Sept
1st Sept
For partióblars apply so1—
W. R. LOXLEY & CO. (CHINA), LTD.
York Bulidin
Tel.-14164.