}
• THE CHINA-MAIL,'/SATURDAY, - SEPTEMBER 18, 1950,
R.I.L
ROYAL
INTEROCEAN LINES
| SINGAPORE JAVA
PORTS and
MACASSAR
#TJITJALENGKA”
"VAN, HEUTAZ” *
"TABMAN"
ARRIVALS
19th Sept
2nd Oct. Ath Oct,
'pors, Paning & Bal Delt
*only to
6 MANILA, EAST &
SOUTH AFRICA &
SOUTH AMERICA
"STRAAT MALAKKA”*
"STRAAT BOENDA"
“TJIBADAK" ►
"TJISADANE"
ARRIVALS
20th Dept.
20th Oct,
BAILINGS
24th Sept.
10th Opt,
10th Oct,
SAILINGS
23rd Sept.
0th Oct.
12th Oct.
⚫ not calling Manila and South America
JAPAN
ARRIVALS SAILINGS
"STRAAT MALAKKA"
*TJIBADAK"
"STRAAT SOENDA"
"TJISADANE”
10th Gapt.
gth Oct,
8th Oct.
21st Sept. 22nd Sept. 22nd Oct.
Agents: HOLLAND-EAST ASIA LINE
● EUROPE vio MANILA
und MALAYA
"MCERKEAK"
"RYNKERK”
Through
BI/L
intusd
ARRIVALS BAILINGS
^2nd Out.
0th Oct, early Nov.
to
Mediterranean and Northern
European porta,
JAPAN.
"MEERKERK””
"RYNKERK"
5th Oct.
early Nov.
28th Oct.
|SEEKINGS;BUILDINIBICU PHONE SERENAME
ISTHMIAN LINE
.(Isthmian · Steamship Company, New York)
DIRECT MONTHLY SAILINGS TO NEW YORK
VIA LOS ANGELES AND PANAMA "STEEL SURVEYÒR”
SAILINGS TO SAIGON, BANGKOK & DJAKARTA (BATAVIA)
"STEEL AGE"
"STEEL SEAFARER"
ARRIVALS FROM U.S.A.
"STEEL AGE"
"STEEL SEAFARER"
FINANCE AND COMMERCE
PAKISTAN'S APPEAL FOR TRADE RENEWAL
New York Stock Exchange
Now York, September 14. Benguet Consolidated Mining hended the most active list
of
Paris, September 14.
Mr. Ghulam Mohammed, Pakistan's Finance Minis- ter, today appooled to. India to allow trade to flow between the two countries "unham- pered by artificial restrictions" such as those arising from India's objection to the value of the Pakistan rupdo..
"I feel certain that once this is done, trade be- tween the two countries would begin to flow as our prices are reasonable and competitive", Mr. Ghulam Mohammed said.
The Pakistan Finance Minis-be repayable by Paltistan to Indla
the financial scille stocks today gaining a quarter atter was replying to a state- as part of 1-12 on turnover of 100,000 ment issued yesterday by Sirment," he said, share". While the Philippines Chintaman Deshmukh, India's Mr. Mohammed again requested gold producer and
others were Finance Minister, on the post- India's Finance Minister that in Buining, last minute orders to buy porement of the question of the interests of expansion of worki steel stocks flooded he market.
the par value of the Pakistan trade and in the larger. interests
countries, the Govern rupee by the authorfiles of of bot
of India allow trade to flow the International Monetary ment of
Between the two unhampered by Fund
artificial restrictions such as those
their arising from
· "unumai action" of objecting to the valuo of the Pakistan rupee,
Final prices for steels, as well as u wide variety of other issues, were tops for the day.
U.S. Steel, public,
was 118
Mr. Ghulam Mohammed said Bethlehem, Re- that Pakistan
enger Jones and Laughlin,
as ever, that in the interests
and should be resumed on basis.
Armeo, Youngstown Street" and of both countries that trade, Wheeling were outstanding between India
favourites.
The balance of, the market found a steady price footing des pite top scale. profit-taking sales Changes were In the morning. limited mainly share or less.
to
50 cents a
Gains outweighed losses.
Dow Jones averages: 20 Stocks 224.48; 16 Rails 08.87; 10 Uulitles) 19.04.
Closing quotations: Adams Expresa
Alaska Juneau
American Can
Amolling Telephone Tobacco Waterworks Anaconda Copper Aviation Corp. Baldwin Locomotive, Bendix Aviation Bethlehem Steel
Aircraft Boeing Barden Co. Canadian Pacific
Commercial Solvent
Pakistan "I feel certain that once this in
between a normal done, trade
the two countries, would begin to flow us our prices are reasonable and competitive," Mr. Mohammed concluded.Router.
He fully shared Sir Chinta- ԱՐ man's views on the need for an early expression of opinion by the International Monetary Fund on the question of the par value of the Pakistan rupee. But it was clear that the Fund would need some time to exan
examine India's
Monetary
memorandum on the mibject. fund meeting
Pakistah appreciated the rea zons kat prompted the Fund to make the postponement, especial- ly as Pakistan
WOR
awore
Paris, September 14.
how Canada was elected to the chair.
22 keen the Fund authorities were manship of the International Bank and Monetary Fund at to-
241
084
to reach early conclusions.
...
Hong Kong Stock Exchange
MÀ GOPT. LONG 45 Loma 190 alyps Loan (1954 & 1940) 18560. 25% on (1948; 03}{α.
BANKS
IIK & Khanghal Bank 11005, 1210/dem
(Lon. leg.) £iam. Chartered Bank 29 1/18n. Mercantile Bank A. & D. £%m. Bank of Eat Asia 1025.
INSURANCESA
Canton Ine. #301 Uulan Ina, 610
China Underwritern Ba,
Fire Ins. 145.
AGIPPING
Douglase 160n.
IKA MACo Blesboks 11m Indo Chinas (Perfi) lân
(Def.) 85
Shaila (Dearer) 42/45. Union Waterbosta 185. Asla Nav. 01368, 0039am,
DOCKS, WHARVER, CODOWYNO, ELL IIK & Kowloon Wherred Tin. North Point Wharves 41⁄2n. Shanghai Hoopkow Wharva th. HC Docks 345.
China Providente 10,585. #hanzhel Dockyarda 2,106. Wheelocks 205, 2016/201
Raub
MINING
ilues 4.700.
HK Mines 013
LANDS, HOTELS A“ DUILDINGS
Khanghai Hotela 1,405.
UK Landa 8415b.
Shanghai Lanila 1,600.
Humphreys 7,500,
HK Ratio 1.00p.
Chinese Ezlatar 1190.
PUBLIO UTILITIES
IFK Tramways Ex,Div. 10,5hh, 10.8010
Peak Trams (01) 151,
(New) $
Star Ferrion -60b, TIL, 2018. China Lightni
Replying to other aspects of Sir day's closing session of the Or- 024 Chintaman's statement, Mr. Chu-ganisation's annual conference. .162 | lum Mohammed - sold that he Next year's meeting will bej
04% wanted to make it clear that the held in Washington, it was decid-IK
decision of the Government of ca.
30%
Pakistan not to devalue tho France had urged at the session 75% Pakistan currency was taken after a resolution calling for the con- 14% a dispassionate and careful con- trol of inflation at its source so 502 sideration of the economie con-as to remove the need for direct 43 ditions of the country and was controls on prices and foreign 30% designed to serve the heat in exchange, officials said. 50% terests of Pakistan.
10%
CARO .27th Oct.
J. I.
40%
Chrysler
71%
150
Colgate
Corn Products
63
Du Pont
801
.....22nd Sept.
Eastman Kodak
444
21st Oct.
General Electric
Motors
Goxlrich
40 0414 110
Goodyear
034
Bails Ń, Y. Sails S.F. Day ILK. Sailed Sailed 21st Sept. Sailed 29th Sept. 20th Oct.
GILMAN & CO., LTD.
Tel: 31146
Chinese Freight. Agents:- FIN FAT & CO., LTD. Tela: 28823, 25553 & 23483.
SWEDISH EAST ASIA CO.LTD
ARRIVALS FROM EUROPE
Homestake Mining International Harvester
+
Paper-
Tel & Tel Johns Manville Kennecoll Copper Montgomery Ward National Distillers
Lead
New York Control Packard Motors...
Pan American Airways Pennsylvania: RR
Radio Corp:
Real Silk Remington Rand Republic Stoel
Reynolds Tobacco Schenley Scars Roebuck Sony Vacuum Southern Pacific Standard Brands
ᎫᎨ
D
Oil of Calif.
on of N. J.
Studebaker
Union Dig
" Corbide
m.v. "TONGHAI” m.y. "RAL!"
4th Oct.
US Rubber
Early Nov,
#
BAILINGS TO EUROPE
m.v. "BENGAL" m.v. "TONGHAI“ m.v. "BALI”
2nd Oct. 29th Oct. .end Nov.
FOR
ADEN, FORT SAID, GENOA, MARSEILLES, CASABLANCA, ANTWEEF, BOTTERDAM, ÜHEMEN, HAMBURG, COPENHAGEN, OSLO & GOTHENBURG
·Deoptanks avaliable for Bulkefl-
GILMAN
CO
Tel. 31148
LTD.
Right decision
Mr. Ghulam Mohammed sald, "The Government of Pakistan
point of view before the Fund"
But the conference, while gene- rally supporting the principle of the resolution, had been unable to reach renéral agreement on the wording.
M. Piere Mendes, French Gov-
to the "Inflationist menace", ring
"the armament effori
Are convinced thee they took ernor of the World Bank, refer- the right decision in the matter said tha! and they will, therefore, cori. Una to maintain and press this necessary to safeguard liberty and peace would become practically meaningless if I were accompani- ed by a new development of in- He could not share Sir Chinta-dation which, sa experience had 30% man's view that Pakistan's de taught us, might prove fatal for cision could, in any way have the principles of liberty and hampered the flow or volume of social justico. 12% amic between India and Pakistan. "One of the greatest dangers is 44 After this decision was taken, that which arises from the con- 65% Pakistan's trade with countries scious or unconscious, temptation 58%
other than
than India had been better to finance works of armament by an it was in the the creation of money-with the than 474 corresponding period of the pre- vain pretext that it would other- 1515 vious year. It was purposeless to wise be hard for pubile opinion 41⁄2 object to the par value of a coun- to accept the sacrifices inherent airy's currency so long as the in these programmes."-Reuter. 10% prices of itá exports were reason-
25
1934
174 able
147%
13%
30%
competitive.
and Mr. Ghulam Mohammed said,
T case of Pakistan the
necessary data on prices and trade 34% demonstrates that after
necessary 314
prices did not
not in 48 adjustments
way affect exports. This 234ly substantiated
62% that our
by
21 other than India: to
LONDON STOCKS
London, September 14, London Stock Exchange gene- rally continued its recent upward is clear trend today, despite dullness in the fact some issues. countries
have been
The Government's announce-
74% after the non-devuaiation ringement of a national board to takej
85%
។
over the slee! Industry carly next
"I therefore wish to pose the year falled to shake steel shares question whether it is not signi- unduly and most held to small gains. The announcement, come 343% ficant that of all countries in the too late in the trading day to world it is India alone which have much effect on trading. 40% should
have objected to Pakistan's market experts said. vainio...
United Steel closed up three connection I wish also pence a share while Vickers was 32% to point out that India is known unchanged.
14.
Steet Lines Westinghouse Youngstown
Sheet & Tube 100% Gen. Pub, Utilities.
Higher in the curb were Cities Petroleum, Do Service, Cosden minion Steel, Fan Steel, Metal lurgical, Glen Alden Coal, Kaiser Frazer and Technicolour.
No!
por
to have made purchases of zer- The Financial Times index was tain articles from countries other 115.4, up 0.9, a new high for 1950. than Pakistan even though prices Associated Press. in Pa
Pakistan were more favour- able.
"We are convinced that there
is no economic justification for the trade deadlock which Indin
by such pressure,'
CHICAGO GRAINS
Chicago, September, 14.
The power behind the rise of the past two days, plus the mar- has so unreasonably created be Demand Iffted wheat around Ket's ability to hang on to its tween the two countries and. that cent on the Board of Trade to- galus today, ima st
Ima sont many ex- despite professions to the contrary, day All contracts closed; at perts back to the crystal ball for India has, in fact, been enden their day's high. Other cereals A second look.
Wheat closed to-1- Fow Wall Strooters would have young to force Pakistan's hands ended with trends mixed,
higher. dared predict such action.
September $2.225. only has the general price level.
December
$2.20 4-. March as measured by the Associated
$2.32 4. Press average of 40 stocks,
May
$3.30 4 climbed to the highest point, since June, 1940, but the rail.“ group
mber $1.55 to hás zipped up to a 19-yéir. poak.
Oats, September 81 to 81%. -Associated Presi
Ilye, September $140 %. Soybeans, November $2.45 11⁄2
Associated Press.
Pacific Far East Love, Inc.
DINKOT
Fast Regular Trans-Pacific
"SAN FRANCIS100; LOS ANGELES
"FLYING"SQUE “
Service
OVERLAND NEW YORK-CRICAGO-DETROIT-TÖRÖNTO, MONTREAL" AND ALL AMERICAN & CANADIAN CITIES.
'Arrive.
Appool a
to India
Corn, September
NY COTTON
(Old) 10.806, 3144. 10.90/3} (NOW) Y106, 140/126
Eletries 226, 2214n, 2010,
Maca Electrica 11.
*
(New) 10.
(Bonus Sh.) 1960. Bundakan Lichta 84%. Telephone 10%, 10%.
(Rta.) 200, Shanghai Go 14
INDUSTRIALS Cald. Black. '(Ord) Kión. Canton Ice Bžán Cements üb.
'HK Ropes 10n.
*STORES, EL. Dairy Farms 11:206.
́(1416) 5:606, 1%.
Watsons sh
L. Crawfords. 20b,”. Sincere an.
China Piperium D.
Bin Co, Ltd. 1.70n. Kwong-Baug og 726.
Wing. On (HK) (12. Wm. Fowell, Lid, an.
MISCELLANEOUS China Entertainments 14a. Up-Constructions 2014)
(New) 1,800.
Vibro Filings 105.
Maraman Invenimenta 9. Martman" (315) „TIK. Shubehst Lorn 306. Shangha{_Explor...203.. Yangtzen 24a.
COTTONS
Ewos 2,906, 0.10%.
RUBBER, COMPANIEŃ
Alme Kylates 158, 16a, Anglo-Dutch J
Anglo-Jar [5%.
Iletu Aname 1
-
Date Plantations 550. Chemor United to
Chang Rubbers 18h, Consolidated Rubbers 1,65b. Dominion Rubbers "lje, Java-Consolidatede „Din. Kota Bahroe 505. Kroesoek Jaya 325. Langhata 1800, Padang Babkuru ‚10s.'' Henah Rubberu 216%.. Rubber Trusts' 2.28p. 1-2)
· Hamarsga Rubberi“ „in. Bemamba „Rubbers 306. Shanphal Kadaka dni Shanghai-Malays 10n.- Shanghai Pahang 300, Jan. Shanghai Sukštas: ih. Bon Mangels 300. Bungel Duria 18b;
Tanah Meraba (65), Tebang Rubberm` „13b Liangber Nubber- 30m.
BUSINESS DONE
* Piroot buil
UK Bank
at $1,180, 100 at $1,185, * at $1,170
Dalon Ina, 200 at: 1639; 10 at 2430. Whonlock: 100 # #2015, 100 at 8203%, |
# Tram Exp‡v. 200 mi 810 %, 600 ̧at
$10.80 200 at B10.86.
China Llicht, (Old).3,200 à 619.00, 7500
China Tight (Nowy 630 at #2.40, 1.000,
HK Elettria 100 kl. 129, 28:45 $21 %)
(*3;400 at 332.. 1,000' at 82. · Telephone 1,000 ́ma' $1015. -
¿¡Watuós · 50 ́et £23. g
Bar Ferries 1600 'at' £653...
Dairy Farma (iiighta)/816, aË MISS.
Aala Navy $600 at: 8% centa, Bhanghal Takauze 3,050 at. Då (penis.) „Filxzeros-400 «L'83,
Wing On 39,41-843..
AMERICAN PRESIDENT LINES
The Global Fleet
St George's Bldg.
Tel. 28172/6.
TO HONOLULU & SAN FRANCISCO -
via JAPANES
Pron.
Pros:
Gen.
Wilson Cleveland ........ Gorden
Arr Bept,
19 Sully Bapt. 20°/ 14 Baile Oct. 15 Sxila Oct. 19
Air. Ool Air.
18 Oct.
TO SAN FRANCISCO & LOS ANGELES.
PAE. Madison Pram Pierda
via JAPAN
....Are Sept. 10 Balle Gept. ... Arr.
Oct. 4 Balls Oct.
TO NEW YORK, BALTIMORE & BOSTON
via PACIFIC COAST & PANAMA
Air, Gopl. 27 Ball Bopt, 20
20 Arr Oct.
Balls Oct. 30
·ROUND THE WORLD
Prak
Fillmore Pres Tyler.
MAVİA MANILA, SINGAPORE, COLOMBO, COGHIN, DONDAY, KARACHI, SUEZ, PORT SAID, ALEXANDRIA, NAPLES, MARSEILLES, GENOA, NEW YORK and. BOSTON
Peas. Van Buren... Arr Bept. 22 Balls Bapt., 23
Pras Jefferson
Arr. Bept, 24. Balls Sept, 20 ⚫OMITS MANILA, KARACHI & ALEXANDRIA
BEN LINE
SKIP "BENCLEUGH" "DENVANNOSH" "BENVORLIGHT "BENMACOHUI” "BENALDER" "BENAVON" "BENREOCHA "BENVENUE"
"BENVORLICH" "BENALDER" "BENVENUE"
“BENVANNOCH" {
"DENWYVIS"
#BENCLEUCH"
"BENHACDHUI"
"BENAVON"
ARRIVALS
FROM
DUE
U.K. ́via Singapore on or abt. 26th Bept-
28th Bapt
19th Oct.
29th Oct.
18th Nov.
281
Nov.
SAILINGS
London Antwerp, Rotterdam, & Hamburg
London, Antwerp, Rot- terdam & Hull.
Genoa, Liverpool, Rotterdam & Antwerp:
Liverpool,
Dublin, Antwerp. Rotterdam.
3rd:0bc.
11th Dec.
Leading on or abt.
Via Singapore, Colombe, Port Sudan, Aden; & Busz,
For Further Particulars, Apply To-
23rd Oct.
16th Ndy.
15th Deo.
29th Sept.
20th De
28th Sept
31st Oct.
Both Nov.
W. R. LOXLEY & CO. (CHINA) LTD."
York Building.
Agents
Telephones, 24IGI.
THE EAST ASIATIC CO., LTD.
M.S. "KVERNAAS”
LOADING ABOUT 27th SEPTEMBER
for
ADEN, FORT SAID, GENOA, ANTWERP," ROTTERDAM,
HAMBURG, OSLO, GOTHENBURG & COPENHAGEN
THE EAST ASIATIC
Queen's Midg., 2nd Beer,
CO., LTD.
Tel. 34111 ☎ M117
Money Market "WEEKLY CHINA MAIL”
Mr. Ghutlara Mohammed added, "I may also reveal that towards the end of September of 1949 the Government of: India actually agreech to recognise the value, of the Pakistan rupes and in accor dance with the suggestion of the to Reserve.. Bank of India, an an nouncement of new selling and buying' rater was to, be made by Central Banks of the two coun- tries on October 3, 1040, but the New York, September 14. Government of India suddenly Catton futures opened fum to-
US dollars opened and closed went back on this on
October 2, day on trade buying and some at HRS 321 yesterday. In the
commnlesion house demand.
Interval fluctuations ranged from The market Inter gave up 3033) and 36.351 India to VIEW] question from the purely more than $1 a bale of the ad- also opened and closed a economic angle and to resume vance on heavy, hedge selling.TM***
20 HKF150,30lil hest, and slowpat normal trading relations, on a Futures rallied sharply on o Braten, wern #127) and 26.4812- protioal basin; pri prioca.
late covering movement which industrial gold oproed Acterrifig to the foreign tax-found oderings limited. Fulurbs 293 a sticl; and closed at change paid by Inductos chable closed on cents to 17.88 bale Fluctuations ranged Pakistan to become
the Fund: Mi Mohamber of higher, gra
dropping the
Urtan's
|--India
Casterling was stationar
Than
CONTAINING ALL THE LOCAL NEWS
OF THE WEEK FROM THE KIC "CHINA MAIL” & “SUNDAY HERALD
Price 50 Cente