ROYAL INTEROCEAN LINES
Incorporated in the Netherlands as
KONINKLIJKE JÄVA-CHINA PAKETVAART LIJNEN N.V.,
Amsterdam
King's Building. Connaught Road,
Tel: Shipping Dept. 28016. Passage Dept. 28017. ainene Agents, Connaught Road, C. No. 82, Tel. 25188.
CHINA and JAPAN LINES
"TJIBESAR”
DUE FROM Japan
2nd Feb,
"Tjitjalengka”
Java poris
15th Feb.
SAILING FOR
Batavia, Semarang,
Soerabaya
& MacassaT
3rd Feb.
Batavia. Semarang,
Sammation, Maenssar 17th Feb.
ORIENT-JAVA-AFRICA LINE
SOUTH-ATLANTIC LINE
TEGELBERG
Due from
In Port
Bailing for Shanghai
5th Feb.
Loading for Molla, Singapore. ` Mauritius.
Lourenco
Marques, Beira. Durban. East London. Port Elizabeth, Mosselbay, Capetown, Buenos Aires, Monte- vidro. Santos. Rio de Janeiro. 12th Feb.
Saling 14th Feb.
Transhipment cargo on through bill of inding sccepted for
Dar-Es-Salaam. Mombasa & Zanzibar.
'STRAAT
SOENDA"
RUYS
South America,
South Africa
1st Feb.
South America
South Africa 31st Jan.
Shanghai, Yokohama 2nd Feb.
South Africa South America 5th March
DELI-STRAITS-CHINA LINE
Due from
"HEINRICHJESSEN" Belawan Dell
Agents
Fenang &
Singapore
2nd Feb,
Suiling for
Swatow & Amoy
Sailing for Singapore-Penang
Belawan Bell 13th Feb.
HOLLAND-EAST ASIA LINE
LEOPOLDSKERK" Due from
Japan & Shanghai,
8th Feb.
Loading for
Manila/Singapore/ Colombo/Suez/ Fort Sald/
Alexandria,
Genoa /Marseilles/ Antwerp/Rotterdam/ Amsterdam/Hamburg/
Copenhagen/
filthenburg/Oslo 8th & 9th Feb.
MOLENKERK" Shanghat & Japan Manila/Singapore/
'ZERKERK”
nu or about
24th Feb.
Europe,
Mid Feb.
Agents: SILVER
HENDONHALL" Due from
Colombo/Suez/
Port Said/ Alexandria
Genoa /Marseilles / Antwerp /Rotterdam/ Amsterdam/Hamburg/ Copenhagen/
Gothenburg/Oslo
on or about
21th Feb,
Mania/Singapore
Colombo/Suex/
Port Sald/
Alexandria / Genon/Marseilles /
Antwerp/Rotterdam/
Amsterdam /lamburg/ Copenhagen / Gothenburg/Oslo early March,
LINE LTD.
Sailing for
U.S. Atlantic ports, D.S. Atlantic Coast on or about 9th March, Poris via
Singapore and Sues,
DE LA RAMA LINES
Loads
EXPRESS CARGO LINER SERVICES
T AND FROM PACIFIC & ATLANTIC COASTS
Pacific Coast
Atlantic Livast
Los Angeles
From
Atlantic Coast
Los Angeles
atlantic Coast
via
Los Angeles
U.S.A. LOADING DATES
Date
THE CHINA MAIL. THURSDAY, JANUARY 29, 1948,
AMERICA AND THE FRANC Might Hurt British Commonwealth
London Stock Exchange
London, Jan. 27.
Prospects Ahead For Pound
New York, Jan. 27.
American financla, and commercial interests to- day generally welcomed the franc devaluation, although some feared the action might hurt Britain and her Dominions.
The Chanedion of the Exchequers Opinions varied among unofficial experts as to
-
Sterling overnight
that devaluation W.LY neither necessary sor dekicable, eorbed yesterday's en tarias ic buying of Kathir shares an today encouraged some profittsking an! n{si vyfr
vome hear covering.
marking Consequently, there was dosen of prices in this section but as the session progressed, with currency talk remaining as the tople ul Interest, price levele improved, lost were regained and in some cases ne gaien o
on the day were recorded. Gilledgest stucks benefittest from Chancellor's statement and improve ments of half a point were fairly this Referal, Consols. 2 armount better at 795, while Traps port 3 robe a quarter to 96%.
There was not a great deal of in although terrat among industrials
eltered gains were recorded, parti- among rabaccos, with British- Cuan
1/16 higher at 6%, OL also met
met with selective Inquiry, Butanding being
being Shell new sharen with a time of 1/1 to
*5/3.
were
Today has been the last of the pre- seal account, this has been one reason for a jaking off in the volume of busincey but soie quarters are look- ing for an expansion tomorrow. AECURITIES,
794
Brith Commula, 1145/75 Conversion L, 34, 1981. 106% Fanding Low, 190R/DO
Wer Loan,
Courtaulda, ord.
whether sterling would have to be revalued.
The "Wall Street Journal" ng erted that actuni devaluutio: had already taken place.
"All the French Government Ed was recognize it.., the deti- franc tious value put on the had strangled French trade both at home and abroad...
"The British, who have ob pected strenuously to France's lang, know they cannot long maintain the fictitious value of sterling in the free market... the prospect of a free money market in France upsets Sir Stafford Cripps, not because it would affect the real value of the pound, but because it would make it doubly difficult for Bri. tain to maintain the arbitrary value placed upon it."
One New York banker dia counted the fears of unfavour- able consequences on currency relations throughout the ster ling area. He said that if France succeeded as planned in drawing back to France and out of hiding within France any substantial part of gold dollar and other foreign exchange as- sels long believed to have been flight from France, this in bia would hasten rather than delay
currency stabilization through out Europe.
כא
Logical But
MR. ECCLES DEMOTED
Washington, Jan. 27. President Truman
today demoted Mr. Marrine Eccles from the chairmanship of the
Board of the Federal Reservo Bank (United States fiscal agent) to the Vice-Chairmanship.
Mr. Eccles, who has been at varlance with the Secre- tary of the Treasury, Mr. Jolin Snyder, on credit policy, was replaced by Mr. Thomas Bayard McCabe, who was only appointed to the Beard yesterday. Reu-
ter.
N.Y. Stock
Market
New York, Jan. 23. Stocks generally sat up and nibbled the with at recovery on Tuesday overall market average, for the first time in nine straight sessions, posting
modest advance. Another source agreed that
Further
short covering and other this was logical, but feared the having of calls and industrials by Parla action would require sev-paufessionals was based mainly eral months to regain these as the idea the list was avresold and sels and expressed fear of the due for a good technical comeback. consequences to sterling in the meantime.
Transfer totalled 110,000 shares.
Hong Kong Stock Exchange
The whape was a BB resttalust com pared with. To niny wod petts gunstnikert- amed of. At the can, however, sommavi was fairly well an tunne,
11.8. GOYZ, LOANS
457 Loan 1945 m.
Lens 100n.
NANKS
I.K. 8. Rank 2040b. 2010.
(Lon. Reg.) £1801. Chartere lank £11 7/100. Mercantlie k. A. li. £22n. Bank of East Aalm 125h.
INSURANCES
Canton Ina, 375b. Union Inn. 782%b. 78308. * China Underwriters 6% b. H.K. Fire Ins. Both,
SHIPPING
Nouzle 2005.
I.K. & M. Steamboats 160. Indo Chinns (Pref) 100n. Indo Chinas Def.) 300. Bhella (Teater) 88/20,
U. Waterbente (011) 47ýb, (822. U. Waterbomba (New) 44h, klus. DOCKS, WHARES, GODOWNS, ETC.
H.K. A K. Wharves 10ld) 1008.
L
H., Dock
(New) (F. Pay 14to. (New) [P. „J')
26. Nõup. China Providente 20, 2451⁄2/2dom. S'hai Dockyarda 2tb, 27%, 20%an.
MINING
Raub Mines 54b.
K. Mince 62566, 0.
LANDS, HOTELS ♣ BLOGS.
B. S. Botels 245, 24«, 24%as. II.K. Land (Old) *1#, #14AM.
R.K. Lands (New) ka.
Khai Lande da, Gau.
Xumphry Estates 20%. H.K. Realties 18.
Chineer Existem 18ßr2.
PUBLIC UTILITIES B.K. Tramwaya 21h, tús, 243%an. Peak Tram (id) 17. Peak Trus (New) On. Btar Ferri 183b, 18Gen.
Yaumet Ferries 3714b.
C. Lights (Old) 25% b. 21%, 2lsa.
Lights (New) 15.
IER. Electries (Old) 5(b, 8¢1⁄4•, $1/
11/Am.
HI.K. Electrica (New) 51b, 324, 62
on
,
Mara Electrics 28.
Dow Jones Average: Stock 62.00, 20 Industrial 171.42. 10 1 50.42, trusler 32.30.
11:
War Loan, 247. 1991
1034
102
Victory Bonde, 4%
114
INNUP ̃RIALS:
Portland Cement Co.
TI
D.AT. Co., and.
Delush Celanese, unit.
25/9
Carrera Ltd., "A". ord.
04
J. A. Conta, urd
07/19%
AUTH
Diller
Ca, ord.
NO/
Dunlope, ord,
17/0
LCL, ord.
50/20
imperial Tubaren Co.
1-6/18
Lever Bron
80/44
Vickers Ltd., ord.
RAVI 14
MINKS:
Hurma CarTY.
Grown Ming
4%
Nundydrons Minen
12/6
Rand Minn
G-1/2B
Spring Mines
10/4
Roli-NS1e
Tavoy T
4-9/17 ZAT
Union Buneration
7-
civis
t.
01 SBARTS:
sta
1
l defender.
3
T5 am 4 C
1
Merlina begle
15,14%
Trinidad Lowards the
129
Royal Dutch
HEA
The "New York World T KARI" financial editar. Rad Hender, ho. predicted:
freebetomper 24%. Avalo
kemonette 14, Mundell 334, Bendix
Actorbeer
Berkochene Steel 334,
Cevonlah Pen 21 2.1 C
125. "Bri-Throulér 15, Cente
Commercial
Linz den 4.
42.
Bell Transpart
Vanéturinn o
4.3/10 127/6
CILTRAGEN1
Conversion Loan 1 1918/53
(exdiv)
Funding Loan, 3
101
National War Bondo 2145%:
1049/1
101
1952/64
1987/88
Auglaston
Allock Di
tatem
Cloning 1%. Alaska June 4,
Express Atların
American Can
Perhaps because United States economic problems have been thus far less acute than most others. American Aberlen S 615, American Telephone 1994, Antirah Tolmero 01. 74. Anacondu Corp. 5. Urldwi
יו
Being Ame
al Paper 48. International Tel. à Tel ·
trin's economy will be affected Solvent 22%, Corn Products 41. Dupont 17. Fainiau Kulak 401 Electric General Electric adversely if she does not follow Liph & Power 16, France's lead. But there is no 31, General Motors 53%, Goodrich 02, all Western Goodyear 42%. Homentake Mining 395. good reason why CDJL
Europe should be held back International Harvester NHTS, Internation- merely because she ands it een venient to retain the artificial value of her currency.
"Even one prospercus natior in Europe should give renewed hope to the people in that part of the world."
100-$15 100-11/10
K06
201
100
National War fonde, 3051/83.. 100-10/20 Being Poende, 85%, IDE5/46 .. 101 Bavings Bonda, 14, 1980/70.. Aaving Tonds, 3.5, 1366/13 Exchequer Bonde, 1060
... Redemption Steek, art, 1948/96 2 POREIGN BONUS: German Lesnar (7drome) 7!..........
Attacking Symptoms
11%. John Manelli 14. Kennent Copper 4%. Montromery Ward 50%. Natural Distiller 19, National Len 30%, New York Central 14%, Packard Pennsylvania RX 17. Real Blk 25%. Itcpubile Bleed 24%, Fay.
Motora 4. Pan Aerican Airways 995. Radiu Corp. li.
nalde Tobares 29. Behenley 20%. Bear Roebuck 98%. Shell Oil 324. Босадт Varnom 14. Southern Tarife 41. Standard Brunds 25. Standard 0 of Calit. 6, Stodesker T. Dulon Dox # UA. Rubber
The "New York Sun** in an 30. Un Car
cd forini said: "The United at, that Bull taty, tha. Lines 19%.
States and Britain have yet t: Westhrone 20. Youarstown Sheet & pem to grips with the real The
Gen, Pab, rütive
malady of inflated money, but Astoriated Pres
bith are busy attacking the
symptoms...it would indeed be
dangerous if frane devaluation
and an open market for quote Bank Of France
334
Logrono e ata, BALAN
30
Marhurine Stly., 1938
KR
BANKS:
Cheronet Dek
Hong Kong & Shanglisi
1.7/16 120%
Mercante lank
MINING BAUER,
Congalidated Gol@elife
70/0
Cunselinted Tin
3/0
New Uulan
W/7W
Orange Free Trai
40/734
West Rand
4B/142
Vessel
Free States Dev.
11/8
m.v. "DEMLAND"
Conn Main Stort
13/14 IN-
Wet Drifontiers
302/8
m.v, "MINDORO"
Lydenbur Ealaten
12/0
Bouth African Township
25/6
Relection Trusts
08/11/2
Terbuntien
Welkom!
(Ự 60/44
2-10/02
"Too not be
Mid. Feb.
Mld. Feb.
ARRIVALS
traco
30th Jan. 10th Feb.
SAILINGS
Dato
1st Feb.
21st Feb.
Vessel
13. “DONA AURONA” BLY. "DONA NATI"
Vesel
. "DONA AURORA" 1.v. "DONA NATT"
BOOKING AGENTS for P.A.L.
THE DE LA RAMA STEAMSHIP CO., INC.
MARINA HOUSE
Tol. 28676--22075
CHINESE SHIPPING OFFICE
Tels. 28788—20153"
CHINA MERCHANTS S.N. CO.
15 Connaught Road West.
SAILINGS
Shanghai, Jan. 27th, Singapore Jan. 30th,
S.S. HAI HSIA
S.S. HAI CHIAU
Rooterand
Tobneed Becurities Grosviti Mini -Ruler.
New York, Jan. 28. The ceiling price on Stralis and English refined in (99.75 parent minimum) in Canada will advance to 96 tents delivered in Montreal and Toronto in wholesale quantities, affor❘ tive: January 21, vald the Amfricin Melk Marker. The old price, f.to cantà has been in effect 10′ modlki, Aociated Prew,
New York, Jad. dt. The name of the Standard Oil Company of New Jersey bat bees changed to the Emo Standard, oft CompanyAsociated Press Kőv
tion of other currencies should precipitate a wave of currency depreciation over the world. A large body of opinion in Britain!
is apprehensive of just that, for the British pound clearly is over-
Communique
Sandakan Lights 10.
Telephones (Old) 201ýk, 400m.
Telephones (New) Bla.
Shanghai C b
INDUSTRIALS
Cald. Macz. (Ord.) 201, Centum
Ires In.
Cementa (014) 514, 87, 38/861⁄4em. Cements (New) Abe.
H.K. Hopes 2015, 215, 21mm.
STORES A.
Dairy Farms (X. B) BG, GR. Dairy Farm Bluhta 402, 424, 40%/0/0
Watw Com. All 17%, 70%
Lane Crawfurde 53b, Air 8.40m.
China Emonelum 1.800. Sun Co., Ltd. n.
Kwong Bang Hons 2001. Wing On (H.K.) 15. Wm, Powell, Ltd. 321⁄2n.
MISCELLANEOUS
China Entertainments 50nt.
H.K. Constractions 10ld) (n. R.K. Constructions (New) Bo. Vibro Piling 17.
Maruman invetznente 1 tu Marian, (..) 1.401. COTTONS Ewon 17b, 17%/%/%40.
Money Market
Gold fell back to $333.50 # tack yesterday after a day of heetle ups and downs. The sudden reversal of trend follow. ed the scntching of rumours of any devaluation of Sterling.
The marker had opened a
five $339 which In less than minutes climbed to $342. Heavy Belling then Hert the price After toppling down to $384. the tiffin interval it continued to Paris, Jan. 27, The Bank of France issued slide till it reached $331,75, from valued at the present rate....... this evening the following com- which point it rallied to close
at $339,50. much sympathy need munique:
Plastres had an equally hectic wasted on embarrass- As from January 26, 1948, ment among officials of the the Bank of France buys gold day. Opening at $10.10 a 100 International Fund. When the from the public at the following the rate dropped to $9.95; but strong bullish influence sent the late Lord Keynes suggested prices:
Bulion: Per kilogramme of price spurting to $10.95.
close it the pooling all national currencies in one fund, to be managed by fine gold 237,400 franca.
amall group of men, he was
$10.77.
Chinese National Currency under the delusion that gold was an anachronism in the new
opened at 82% cts for futures and 85 cls for spot, and closed field of monetary technique.
at 82% cts and 86% cts respec tively (for CN810.000).
}
United States $20 piece: 7,100 francs.
United States $10 ploce 3.550 francs.
"Common people of lesser A 20 franc plocs of Fao 1914 mentalities do not think so. The Latin Union:-1,808 trance. Fund must take a loss and per- A 10 franc ploce of Pan 1914 haps many more losses, which Latin Union:-684 francs,"
A
PRESIDENT LINER
* SAILING
REFRIGERATION—SPECIAL CARGO OIL TANKA.
CARGOCAIRE-SPECIE
TO SAN FRANCISCO
SA "General Melga" (via Shanghal, Yokohama &
Honolulu) Feb. 14 #
98 "General Gordon" (via Manila & Honoluta)........ Mar. 6 58 "President Clevelania" (vía mausta & Honolulu) Mar. ∙12 $8 "General Meles" (via Daulla)
April
TO SAN FRANCISCO AND LOS ANGELES S5 "President Madison" (5. F. Direct)
68 "President Grant" (via Shanghai & Yokohama)
BS "President Taft" (8. F. Direct)
S.8. "President Pierce" (S. F. Direct)
Feb. 11
... Feb. 22
Fob.
25
Mar, 10
TO NEW YORK AND HAVANA VIA MANILA.
SINGAPORE, COLOMBO, COCHIN, BOMBAY,
SUEZ AND MEDITERRANEAN PORTS
SS "President Polk"
85 "Mount Davis"
58. "Mount Rogers"
SS "Furman Victory"
SS "Marine Leopard"
Bt. George's Bldg.
Jan.
30
Feb. 10
Feb. 21 Mar.
Mar,
8
AMERICAN PRESIDENT LINES, LTD.
Tel. No. 28172/28175 +
American Pioneer Line
Arrivals from New York. Boston, Other Atlantic Ports via Panama
B. "STAGHOUND"
8.8. "AMERICAN MERCHANT"
Sailings to Manila
8.8. "STAGHOUND" BR. "AMERICAN MERCHANT"
Due Feb.
19
Feb. 2
Salls, Feb.
Feb, 20
Sallings to New York, Boston, Philadelphia Baltimore & Other Atlantic Ports via
Panama Canal Special Cargo Oil Tanks-
6.7.
"GOLDEN WEST"
Due Feb. 12
Salls Feb. 1
For Full Particulars Cali
UNITED STATES LINES CO.
General Agents
814, Queen's Buliding.
Tel. 81251 (3 Unes)
The SWEDISH EAST ASIATIC Co.,Ltd.
"
M.V. "NAGARA Loading Hong Kong 22nd February
for
ADEN, PORT SAID, GENOA, MARSEILLES, ANTWERP, ROTTERDAM (AMSTERDAM), COPENHAGEN, OSLO
and GOTHENBURG
Tanks available suitable for the carriage of oil in Bulk.
For further particulars apply to:--
GILMAN & CO., LTD.
Agents, Telephone 81146.
KLAVENESS LINE
SAILINGS
Direct to LOS ANGELES, SAN FRANCISCO PORTLAND, VANCOUVER & SEATTLE,
SAILING 6th FE m.e. "CASTLEVILLE"
ARRIVALS FROM PACIFIC COAST m.s. STIRLINGVILLE”
easter
A1 at
ms. "BOUGAINVILLE
Ticals firmed up again to $28.60 a 100, as also NEI
will mostly be chargeable to the British sovereign:-4,720 Guilders to $30.70 a 100.
-U.S. dollara, following the United States which supplies francs, most of the Fund's seal assets.— A. British half-sovereign:trend of gold, cased off to $5.09.
United Press.
868 francs--Reuter,
Pacific For East Live, live.
Fast Regular Trans-Pacific Service
OVERLAND
NEW YORK.CHICAGO.DETROIT-TORONTO, MONTREAL AND ALL AMERICAN & CANADIAN CITIES.
DIRECT SAN FRANCISCO TOS ANČELES'
Telephone 31639,
VERAKL
Arrivin
Froma
Salls
For
Feb.
San Francisco Via Manllà
Feb.
*
San Francisco
も
Fod. ID
via Bhanghai
San Francisco vis Kobe
Feb. 13
Feb, 15
Fab. 14
San Francisco
via Shatishal
via Kobe
Feb. 18
vii. Maulia'
IGERATION
Cargo for Ting-Two, Hankow ★ Tientsia acceptabia
on through hills of lading......
FOR- FULL" PARTICULARS PLEARE APPLY TO THE ABUTE.
LR "TRADE VERND" 24. "PHILIPPINE. BEAR”
#LUKUMBOURG VICTORI" Oba 08. "SKA BERFENT"
DRY CARGO
San Francisco
TANKS
CARGO ! OIL TANKS
un-
Sterling appreciated, to $12.77 Australian pounds were changed 'at $12.51.
SILVER & GOLD MARKETS
Бас
London-Sifres. Spot, per aunce 45d; Forward, 44-d
Bar Gold, per Ane ounce 173/1. New York-Ulver, Bar (asked price) 74-ct.
Bar, Golf, per fine gunce (official)
Bombay Silver, Ready, por 100 toles 170 Kupecs, 12 A; New 163, 03; Geld, delivered, per tola 104, 12: Barereign 69, 00,
One Tola is equal to 1/8ths of mó
ounce.
Bonos hire-Sovereign, buyers Eagles. 69.20, pellam 71.00: U.8.
127.006, 129.494) Gold, Bar, Grainme. 6.70b, 6.95.
Brogkoks-Gald Bar, per kah- weight of 15.344 Grammen 3is dents. Stanacor Baten (Qalling).
DUE 17th FE DUE 23rd FE
PASSENGER ACCOMMODATION. BULK OIL TANKS
Chinese Freight Agents.
HOO FOOK PING
THE BANK LINE (China) Ltd
Apply:
THE BANK LINE (CHINA) LTD. King's Building. Tel. 877
THE EAST ASIATIC CO., LTD.
OF COPENHAGEN
M.V. “MALACCA
loading about 8th February
for
ADEN, PORT SAID, ANTWERP, BOTTERDAN
OSLO, GOTHENBURG AND COPENHAGEN
C
Tanks avaliabin for the Carriage of Oli, in Bull K
The_East_ASIATIC C CO., LTD.
24133.2»SALTE