R.I.L.
ROYAL
INTEROCEAN LINES
SINGAPORE, JAVA
PORTS and MACASSAR
"VAN HEUT82” –
"TASMAN"
"TJITJALENGKA"
SOUTH AFRICA &
ARRIVALS
In Port
11th Aug.
ARRIVALS
SAILINGS
29th July 2nd Avg. 16th Aug
* only to singspora, Penang 4 Bol. Deti
@ MANILA, EAST &
SOUTH AMERICA
"TJIKAMPEK"
"RUYD"
"BOĺ88EVAIN"
• JAPAN
"RUYB"
SAILINGS
"TJIKAMPEK"
4th Aug.
5th Aug,
12th Aug.
ARRIVALS
6th Sept
SAILINGS
15th Aud.
ard Aug.
3rd Aug.
3rd Sept
"BOISSEVAIN"
Agents: HOLLAND-EAST ASIA LINĖ
• EUROPE via MANILA
and MALAYA
"MARIEKERK"
"MELISKERK"
"MEERKERK"
Through B/L fund to
Mediterranean and Northern
European perte,
JAPAN
"MARIEKERK"
"MELISKERK"
"MEERKERK"
ARRIVALS
SAILINGS
7th Aug.
early Sept.
9th Aug. early Sept. early Oct.
BEN Aug. early Sept. early Oct
10th Aug
carly Sept.
E PEKINGS HUUUNISTELEPHONESPELLEDER801793
ISTHMIAN LINE
(Ithmian Steamship Company New York)
DIRECT MONTHLY SAILINGS TO NEW YORK
VIA LOS ANGELES AND PANAMA
"AKTION"
STEEL RECORDER"
In Port
24th Aug.
SAILINGS TO SAIGON, BANGKOK &
DJAKARTA (BATAVIA)
"STEEL ROVER"
'STEEL ADMIRAL"
ARRIVALS FROM U.S.A.
“STEEL ROVER" ..
STEEL ADMIRAL"
5th Aug,
20th Aug.
Salls N. Y. Salle S.F. Duo H.K. Balled Salled 4th Aug. Salled 29th July 19th Aug.
GILMAN & CO., LTD.
Tel: 21146
Chinese Freight Agents:- UIN FAT & CO., LTD. Tel: 28823, 25553 & 23483.
SWEDISH EAST ASIA CO.,LTD.
ARRIVALS FROM EUROPE
m.v. "MINDORO"
2nd Aug.
m.v. "ANDAMAN"
.Early 'Sept.
SAILINGS TO EUROPE
m.v. "SUMATRA” '
m.v. "MINDORO"
2nd Aug. .23rd Aug.
!
FOR
ADEN, PORT SAID, ALEXANDRIA, GENOA, MARSEILLES,
ANTWERP, ROTTERDAM, BREMEN, HAMBURG, "
COPENHAGEN, OSLO & GOTHENBURG Doeptanks available for Bulkell
GILMAN & CO.,
Tel. 91148
LTD.
THE CHINA MAIL, SATURDAY, JULY 20,- 100,
FINANCE AND COMMERCE
WORLD BANK BROADENS New York
INTERNATIONAL LOANS
Hong Kong Stock Exchange
very
The market, continues dull, and pending a return more active conditions daily com- ments will be discontinued.
On.
HK Govt, Loans
hige bean (1031 & 1948) 91ận, Soon (1018 90.
Banks
15 Shanghal Bank Ex.Div. 1,14ôn Str. Ex.tv, £741. Chartered Bank 11/1, Metrantile Bank A. & 1, £22. Bank of Fan! Aslo 1931,
Insurances
Chatur in. 234.
alon I, CROMA,
Chine Underwriters in.
I Fire Inn, 165.
Shipping
Danglaren 150m.
K&M Heemkonta 120, Ind Chinas (Pref.116.Jun.
(Def han
Shelle Beurer) 43/10.
Dain Waters 18.
Aala Hav, Ga.
Docks, Wharves, Godowns, Ela.
IK & Kowloon Wharves 437
North Point Wharve B.
Shanghai Hungkew Wuresi Bin,
HK Duck 12%
China Prasklenia 1.200.
Shanghai Bockyarda 1.60b,
Wheelocks 15
Mining
Bath Mine 1.7.
TIX Mines 2015 m.
Lands, Hotels and Buildinga Kutch .690.
1% Landa 14n.
Bhongbai Lando 16, 1.100.
Lumphrey Shera
HK Honklin 1,001.
Chinese Estates Ex.Div, 119.
Public Utier
HK Tramway* 10,205, 10.20:48, Peak Trama (113) 19h.
(Now! 8.
K
Star Ferries Gin.
China 1ghts (0) 10.104.
(New) 6.50, IIK Elvestis 10,0n.
Meran curls 11n. (New) 10% ta,
++
Bus By 10. Sundpkan kielto n. Telephones Jelga
(R) ba Shanchat Gut 1.
Industrials
Cabl. Maes. (Dnly 291in. Canton le Styn.
Cements 41, ben.
HR Repr 136.
Stores, Etc. Dairy Farm 1.
4 14b.
Watan 2014,
1., Crowfunds 20m.
Stavetes Dły11.
China Braporton B127.
Brun Co., Ltet. 1.70m
Kwan Sang long 74.
Whg On tk) Ex.Div, 403
Wm. Powell, Ltd, s,
Miscellaneous
China Entertainments Tin, HK Construction (018) 2.COM.
(New) 1.30h.
Vibro Plings h
Harmon Investmenta 2/-13, Marino (HK) 7. Shansebas gun an Yausterren.
Cottons
Ewer 2.40b, ziben.
Rubber, etc. Companies Alma Estates 134 m. Anglo-Dutch 30, Anghelavan Jah, Batu Anam „12an. Bute Plantations (56b.
Chemor United 50%. Cheng Bubbers 15b. Consolidated Hulbera 1.405, 1.3018. Dominion Rubbers. Th Jare-Consolidatede .0951. Koin Bahro 85b. Kroewock Javus ton. Lacskate 201 Padang Rubbers 105. Renah Rubber 1. Rubber Trusta 2.200, Samakers Rubber in. Semambu Habbers. „30b, Bhaughsi Koduha 4961. Ehanghal-Mulay 10, Bhanghal Pahatts 604- Shanghai Bumatına In. Hua Mangela 10, Bone Derle 123m, Tanah Meraha. Tebong Rubbers .168. Ziongle Rubbers „80n.
BUSINESS PONE
Direct busine)
Union, Ins. *20 at $580.
Washington July 28.
The landing programme of the World Bank, which already has played a major role in the post- war economic rovival of the Western World, is being broadoned under the dimetion of Eugone R. Block, the bank's president, Since starting operations June 25, 1946, the bank has made 20 loans to member countries total- ing $803,645,000 and ranging from $2,300,- 000 to Finland to $250,000,000 to France.
Stock Exchange
New York, July 27,
The stock market advanced briskly today and held all or most of the gains through
the elay. Flant prices were a
few tents to around $2 n shore. Steels sparked the rise with the motor Kroup a cloce seroad. Rubber shares were, niso well into the plus, as were utilities, calls, and Business was, brisk through
the day.' Turnover hit a rate of 2,300,000 shores. An optimistie comment on the Korean war General Douglas MucArthur in- by:
spirod some buying. So did the President's
Until recently, World Bank thorises the bank to guarantee radio-television. of
loans predominantly have been louna made through private in--
vestment channels, the NAC said: | in dollars aliuply because bor-
"The original expectation that rowers had to rely on U.S.
a considerable part of the bank's manufacturers-who had to be business would take the form of paid in dollars-for most of guaranties of privately floated the things they needed.
loans has not been realised in Now producers in other coun-practice, under the conditions tries are able to offer many here- prevalling in the world."
Borrowers |
HK Trn 400 at $10.20, 609. ut $30.20 Chins Light (New) 151 ab $675.
TIK Fettle ico a $19.00.
- Cement 200 at $8.
Watson 100 at $21.
Ewo $600 at #2lj.
Consolidatul" 2.000 40.
Pacific Far East Line, Inc.
SÜREUT.
Fast Regular Trans-Pacific Sorvico
RAM FRANCISCO, LOS ANGELES
OVERLAND NEW YORK-CHINAGO-NETROIT-TORONTO, MOTRBAL AND ALL, AMERICAN & CANADIAN, CITIES.
Arrivo
Bell
"CHINA BEAN”
"YLEETWOOD" →
"GEORGE LUCHENBACH?
**YLTING* DRACION"
San Francisce
Ban Franciore
Indie, Etraits
Ben Franciaco
Das Francine
Aug.
Aug.
Aur
1
Aug. 3
-Aug.
Aux,
Augi ja.
A
Bas Prisclore & Log Angylon.
Ben Francia: Loś"Allavini
Bán Fraselies à Lee Angilés
Refrigerated Acompta (Diy, Carg
LINES CO., Queen'
tofure scarce Items. often asks that loans be made In
Swiss franes, Dutch gullders or some currency other than dollars. In response to the growing de- mand, Mr. Black bag recom- mended to member countries that they authorise the bank to use loan purposes currencies, other than dollars, now deposited
for
with the bank.
Under the articles of agree
ment of the World Bank, signed at Bretton Woods, N. 1., in July, 1944, cach participating country contibuted a designated sum, of which 18 per cent was in the currency of the participant. Two per cent was In gold or US dollars. The remaling 80 per rent of each subscription is sub- lect to call by the bank only When required to meet obliga-
luna of the bank.”
Thirteen countries
now have authorised the bank to use their 18 per cent in the making of inans, subject to approval by the country whose currency is to be used.
Saving dollars
Major role
statement that he secs no necessity now for wage, price and manpower controls. Higher prices were paid for U.S. Steel, Bethlehem Steel, Repubile Steel, Jones and Laughlin, Cru- But nevertheless the bank's cible Steel, Inland Steel. Ameri loans have played a major post- can Telephone, Allied Chemical, war role, NAC asserted, because American Woolen, General Mo- they financed immediate recon-tors, Chrysler, Sinclair Oil, Boc- struction when the WAT ended ing, Dow Chemical, United Air- and are now thancing economic craft, Radio Corporation and Du development.
Font.
As an example, $28,000,000 in bank funds has been used in France, Belghum, and Luxom- bourg to rejuvenate and broaden the production of steel,
While sted stЯt must be Im- ported into Europe from the United States, nevertheless the Investment of $28,000,000 steelmaking facilities
in tias had beneficial effects on employment and national income countries.
in those
Similarly, India is using $72.- 500,000 for the development of electric power, a rail system and the improvement of her agricul ture-United Press,
Agreement on Sterling balances
London, July, 27.
Gains for steel ran to around $2 n shore.
Dow Jones averages:
Stocks 74.68; 20
15 Industrials 208.37; Rae 61.31: 10 Vinities 37.58.
Closing quotations: Adams Express Alaska Juneau American Smolting
#+
Aviation Corp. Anaconda
Baldwin Locomotive Bendix
Aviation Bethlehem Steel
J. I. COSC
These countries include the United States, which authorised the bank to use its entire sub- scription of $3,175,000,000, and the United Kingdom, Others are Belgium, Costa Rica, Conadu, Denmark, EI
Britain and Pakistan have General Motors Salvador, France. Honduras, Italy, Mexico, the reached an agreement on Sterl-f Goodrich Netherlands, and Paraguay. ing balances,releases,
Goodyear The ability of bank member
Sir Stafford Cripps, Chancellor Homestake Mining countries borrow currencies of the other than dollars and to buy the Britain and Mr. Chulans
Exchequer, signed for International Harvester
Molam-
Paper goods they need with currencies med. Pakistan's Finance Minister,
Tel & Tel other than dollars makes possible for the Dominion.
Johns Manville the saving of scarce US dollars.
Mr. Ghulam Mohammed, who Kennecott It has been the world-wide scar-led the Pakistan delegation to Montgomery Ward city of dollars in the post-war the Sterling balances releases National Distillers perind that has made it so dif- laiks deult to make the necessary economic adjustments.
hero on
$
+
The Global Pless
5.S. “GENERAL GORDON"
will sail for
HONOLULU and SAN FRANCISCO
via Okinawa and Yokohama
on SUNDAY, July 30th at 8.00 P.M.
Passengers are requested to board the vessel on Sunday. July 30, between 2.00 PM. and 4.00 P.M.
Hand baggage will be received in Godown No. 50 the Hongkong & Kowloon Wharf & Godown Co., Ltd., en- trance through Gate No. 2, Canton Road, Kowloon, on Sunday, July 30, between 2.00 P.M. and 4.00 P.M.
St. George's Bldg.
Tel: 28172/5.
BEND LINE
"DENVRACKIE"
72 480
FAR
FARM THE
ARRIVALS
FROM
DUS In Port
SHIP
U.K. vla Singapore
on or abt.
4th Aug.
9th Aug.
14th Aug.
27th KL
ㄉ
29th Aug.
12th Bopt.
19th Sept.
24th Sept.
20
23 554
100
0614
3231
634
14%
48%
41
Boeing Alterati
33%
Borden Co.
49%
"BENVENUE"
Canadian Pacific
17
"BENDORAN”
40
Chrysler
40.
"BENLAWERS"
04
"BENATTOW"
Colgate
BENALBANACH"
Commercial Solvent
17
"BENCRUACHAN"
Corn
Corn Products
"BENVANNOCH"
Du Pont
Du Font
207/
70%
"BENCLEUCH”
Eastman Kodak
40%
Electric Light & Power
45%
0144
003;
554
"DENVRACKIE"
34
34
"DENLAWERS"
22%
"BENCRUACHAN"
4-17%
1016
"BENDORAN"
3712
"BENVANNOCH"
00%
622
22%
1436
) Omits Huif.
10%
343%
3774
421⁄2
York. Building.
21%
-து1----.
0916
pH of N, J.
75%
27%
30%
42%
45
36%
31%
Copper
which began
Lead an
level on July omeist
10 New York Central quid in an interview today that Packard Moters This shortage, plus foreign the texts of the agreement would Pan American Airways *xchange restrictions In vir be simultaneously released tually every country, and the London and Karuch during the Radio Corp.
in Pennsylvania R development of the cold war next week.
has kept the World Bank from
He said that he could not dis-:
Steel
realising the actual goala set close the actual terms of the Tobacco
for it at Bretton Woods.
Big lender.
Instead of being a guarantor of loans by private agencles, such as; hanks, the bank has become It- self one of the biggest lenders in the world, since it is able and willing in a time of uncertainty to face ricks avoided by private lenders.
This change in the bank's role was elted by the National Ad- visory Council in a recent report to President Truman .and to Congress.
of
the
Naling the provision articles of agreement that au-
NOTICE TO CONSIGNEES Consignees For
2.5. "BENVEACKIE” are hereby notified that their cargo is being discharged into the Hong Kong & Kowloon Wharf & Godown Co.'s go- down, where it will be at Con- signees risk and subject to the Wharf's terms and conditions of storage, and where delivery may be obtained;
Damaged packages are to be left in the Godowns for exam- ination by Consignees, and the Company's Surveyors, Mesars, Carmichael & Clarke, at 10 a.m. on August 2, 1950.
To comply with the General Bonded Warehouse Regtdations Consignees mist have a Re+
venue Officer in attendance when damaged dutiable goods are examined.
agreement until the. text was Sears Roebuck jointly relented, but he desertbed Sheil on it as highly satisfactory.
Socony Vacuum Mr. Mohammed expressed his Southern Pacide and the Pakistan Government's Standard Brands gratitude to Sir Stafford Cripps ond the British Government for
Oil of Calif. the very understanding attitude Studebaker" adopted by them during thest Union Bag negotiations and throughout.
Carbide
The Pakistan Finance Minister will shortly leave London by air US Rubber for Karachi-Reuter.
Money Market
close.
Steel
oungsto
Sheet & Tube 01% Higher In the curb ware Barium Steel, Breeze Corpora- tion, Cities Service, Claude Neon, US dollars suffered a relapse Electric Bond and Share. yesterday after Thunday's big oil,
Fansteel
Metallurgical, Humble Standard spurt. Opening of $0.35 the Imperial Oil, price dropped to $6.30 at the Power, Translux, and Willkam
Watch were also higher.
U.S. Steel
Common recovered from the disappointment caused crease the dividend by failure of the Directors to in- mot late on Tuesday, desplie the when they
fact
that pronts for
for the scoot quarter were the highest in the Company history.
The lowest rate of the day was'; $0.29%, shortly before, the clone
TT closed at the same rate, Highest opened at HK$0.33 and and lowest rates were 60.23% and $0.32,
Industrial gold opened strong at HK$328 à tael but was down val, In the afternoon it dropped operating at top evoed most of 11 points before the lunch inter- The sicel industry has been a further four points to $213, but the year and profits statements recovered to $318 at the close. of leading companies reflect this cents to HK$15.75.
Sterling gained a further dive prosperity. There is literally, no end in sight for capnelly steel operations-Associated Press.
LONDON STOCKS
Australian pounds were un changed at HK 1150..
Flostres continued nominal at K$12 a 100.
Ticats at HK$27.50 100, and NEI Guilders at HK$2.50 a 100, were unchanged.
tin
Aircraft and other war polen
London, July 27.
shares were frm today on the London Stock Exchange but CHICAGO GRAINS the Forliament debate on defence Chicago, July 27. restricted business in other issues. Grains difted lower under sharks, as well or shipyards stocks Rolls-Royce and other aircraft teady selling pressure today. had good advances. Wheat and soybeans lost the most ground. The market eased at
nited a commodity, chárea remained i
No claims will be admitted, after the goods have left the the start dagod a mild rally wanted. Other price movements firm and gold shares.ad- steamer's godowns, and about midway in the semion and were irregular and business geh- goods romalaing undelivered then sold off to new lows for the erally was restricted. The Finan after August 4, 1950, will beading Favourable crop pro Associated Press. *.
in the last half hour
felni Times Index was 1112, off subject to 'rent.
All claims against the steam er must be presented to the undersigned on or before August 28, 1950, or they will |not be recognised.
No Fire Insuranos will be affeated.
W, LOXLEY & CO.
(CHINA), LTD.
"Kong, July 20, 1960..
spacts coupled with large sup pilag of enth strain du the mur caused some of the selling
Wheat closed 1-4 to 2-4% lower.
NY SUGAR
New York, July 27, Domestic sukar futures num ber six closed inclianged to three higher
March May Corn was! Y higher." "Bepléin
lower.
3.03 big
jesus, 247 nominali
--
World
mber
obsed:
"BENVENUE"
"DENATTOW"
"BENCLEUCH"
$7th Aug
SAILINGS
London, Antwerp, Rotterdam, Hamburg
& Hulf.
Havre,
Genos Liverpool, & Hull,
Antwerp
Loading on or abt.
30th July
4 116ih Bopi.
13th Aug
23rd Sept.
7th Aug.
Liverpool,
Dublin,
Rotterdam,
afasgow,
31st Aug.
28th Bepte
† Accepts Cargo for Japan,
Via Singapore, Colombo, Port Budan, Adon, and Busy Canal.
For Further Particulars, Apply, Thom
W. R. LOXLEY & CO. (CHINA) LTD.
Agents
Telephone: 24165.
THE EAST ASIATIC CO. LTD.
M.S. "INDIA”
LOADING ABOUT 20TH AUGUST
for
ADEN, FORT SAID, GENOA, ANTWERP, KOTTERDAM, HAMBURG, OSLO, GOTHENBURG & COPENHAGEN
THE EAST ASIATIC CO., LTD.
Queen's Bldg., Znd foer.
Zci. 24111 & 3411M
SWEDISH EAST ASIA CO.LTD
m.v. "SUMATRA
LOADING 31st. JULY SAILING 2nd AUGUST
ADEN, FORT SAID, ALEXANDRIA, EENUS, MARSEILLES, ANTWERP, ROTTERDAM, BREMAN, HAMBURG, COPENHAGEN, OSLO & KOTHENBUKO.
GILMAN
CO., LTD.