CHINA MAIL, THURSDAY, BEF
R. I. L.
ROYAL
›SINGAPORE, JAVA
INTEROCEAN LINES
PORTS and
MACASSAR
"VAN HEUTOZ” •
"TAGMAN"
"TJITJALENGKA"
ARRIVALS
4th Oct. 8th Oct
21st Oct.
*only to 'pore, Panang & Bar Bell
© MANILA, EAST &
SOUTH AFRICA & SOUTH AMERICA
"STRAAT BOENDA” **TJIBADAK” *
"TJIGADANE"
ARRIVALS
BAILINGS
12th Dot.
10th Oct.. 24th Oct,
SAILINGS
9th Oct.
18th Oct.
20th Oct.
• not calling Manila and Bouth Amerion
O JAPAN
·‚"TJIBADAK"
"STRAAT SOENDA”
"TJIBADANE"
ARRIVALS BAILINGS
13th Oct.
8th Oct.
22nd Oct.
Agents: HOLLAND-EAST ASIA LINE
● EUROPE vio MANILA
and MALAYA
"MEERKERK"
Through Ba/1.
ARRIVALS
SAILINGS
"RYNKERK"
"LANGLEEBCOT"
2nd Oct. Early Nov,
4th Oct. 11th Nov. Early Dec.
Mediterranean and Northern
European porta.
• JAPAN
"MEERKERK"
"RYNKERK"
5th Oct.
10th Nov.
early Dec.
26th Oct. early, Nov.
"LANGLEESCOT"
BEZKING'S BUILDINGSAFERHOSTNEZRETOŽE
་
ISTHMIAN LINE
(Istlimlan Steamshilp Company, New York)
DIRECT MONTHLY SAILINGS TO NEW YORK
VIA LOS ANGELES AND PANAMTA "STEEL SURVEYOR"
SAILINGS TO SAIGON, BANGKOK &
DJAKARTA (BATAYIA)
"STEEL AGE"
"STEEL SEAFARER”
ARRIVALS FROM U.S.A.
*STEEL AGE"
*STEEL SEAFARER”
Sailed Salled
FINANCE
STEEL
AND
COMMERCE
SUPPLIES
FOR REARMAMENT
New York Stock Exchange
New York, September 20 Selling orders swamped the stock market just before the close today and forced prices down by a few nents to as much as $2 m ¥3 a share,
One of the most difficult calculations involved in. the rearmamant programine is to estimate how for the diversion of resources will affect the exports of European countries and how far the need for special equipment and row materials will increase imports from the dol. lar area.
This is a particularly acute problem for the UK which is more liable to serious worsening of balance of payments difficulties than most other countries because of its high overseas trade turnover. The British
Government's so precize for this purpose
enabled advisers see the problem devel- though they have
the oplag in two ways. First, if the British Iron and Steel Federa rearmament programme is to get tion to make fairly close estim- The quotation tapo ran a minute under way quickly it will balates of distribution of steel to behind floor transactions shortly necessary to import some extra British Industrien.` On the basla hefure the close as traders rushed supplies of key raw materials of 1949 production
this would to execute solling orders. Sales ostly metals of various kinds enable the Government's advisers volime was around
America, and 2,100,000 from North
in to assess accurately the amount certain machinery of steel that will be released by shares. The aciling deluge coin-particular cided with news of sensational
which can only be obtained cuts in the various civil produc- military successes in Korea. The from the US, will be needed at then programmes. Such calcula- Inas aniounted to a total of abouð
once. Secondly, rearmament will tons on the Impact of the rear- $1,250,000,000 of listed value.
consume large quantities of steel inament programme will be still which will have to be switched further assisted by the 1948 away from civilian production. census of production results
will And steel has been. the most Im- which
show consump portant single materiál in British ton of steel in different British
Industries. exports.
Rails bore the brunt of the selling drive among major groups 'despito high' Auguri gross carn- inga reports. There was evidence, of considerable profit-taklig os result of recent strong advances. Radio television issues made good advances at the cutset but the gains were cut back shorply when general selling started.
Dow Jones averages:
Stocks
20 Industrials
15 Rails
10 Utilities
80.40. 222.84. 64.08. 40.02.
Closing quotations:
Adams Express
Alaska Juneau
American Can
22
21⁄4 933
Smelting
Telephone
Tab
н
Tobacco Waterworks Anaconda Copper Aviation Corp. Baldwin Locomotive Bendix Aviation
Sails N. Y. Salla S.F. Duo ELX. Salted 9th Oct. 20th Sept. 20th Oct.
GILMAN & CO., LTD.
Tol: J1140
Chinese Freight Agents:- HIN FAT & CO., LTD. Tols: 28823, 25553 & 23493.
Du Pont
14
There is sill another consider= stion which may affect the export positiora Some of the most successful British 'exparts-cars for example, are mass produc- tion lines. Because there is no pool of reserve manpower, Brmaments work will most pro- tably draw men off these mass production lines. There is some risk that such an interruption of the mass production Bow may cause an even larger falling off in production than would be ex- pected in terms of the number of inen and amount of materials switched to armament work.
Money Market
US dollars opened yesterday at HK$6.34, dropped to $6.32%, and closed at $0.33.
to $0.37, and closed at $8.37%.
TT opened at IIK$0.38, dropped
al
Industrial gold dropped to HK $290 a teel, after opening $206.25. It closed at $291.
Sterling and Austrailan pounds were stationary at HK$15.75 and HK$12.50, respectively,
Piastres remain nominal at: HK$12,50 a 100.
Ticals at HK$20.00 a 100, and NEI Guilders at HK$3
100, were unchanged.
SUGAR CONTROL PROSPECTS
0342 149%
66
On the other hand one of the 94 favourable factors to be taken 343% into consideration is the con- 7tinued rise in the level of steel production in the UK. The rate 40% of production now exceeds 10,- 4115 800,000 tons a year and it is ex- 32 pected to go on rising to some 304 18,000,000 tons a year in 1953. 194 This is about one-third of the 494 | steel production of the whole 'of 701 Western Europe." The UK 11303 444 twice as much steel por head as Washington, September 20. 20 the average for Western Europe. The US. delegation to the re- 65% This
is the foundation of in- cent London Sugar Conferences 7844 dustrial power which enabled has reported to the Secretary of 48 the British Government in Its State, Mr. Doan Acheson, that 48% rearmament memorandum
to prospects for strict international 94% Washington to suggest that the control of sugar are still tracer- 11111⁄2
UK might be able to pass on tain. weapons free of charge to the defence forces of Western Euro- pean countries,
Bethlehem Stoel
......27th Oct.
Boeing Alteraft
Borden Co.
Canadian Pacific Case J; I. Chrysler
Colgate
10th Oct.
Commerciul Solvent
.21st Oct.
Com Products
Eastman Kodak General Electric
Motors
Goodrich
Goodyear
60
Honicalake Mining
30
International Harvester
Paper
90
44%
Johns Manville Kennecott Copper Montgomery Ward National Distillers
47
63/
81%
252
47
-New York-Contral-
-15%
Packard Motors
43%
Pan American Airways
Fennsylvanir RR
18
Findio Corp.
18
Remington Rand
134%
Republe Steel
374
Heynolds Tobacco
35
Schenley,
32
49
SWEDISH EAST ASIA CO.LTD.
ARRIVALS FROM EUROPE
Lead
Sears Roebuck
'Shell Oll
Socony Vacuum Southern Pacifie Standard Brenda
Oll of CallE.
+ Oll of N. J.
2 Carbide US: Rubber
m.v. "TONGHAI” m.v. "BALI
7th Oct.
.end Oct.
Studebaker Union Hng
BAILINGS TO EUROPE
m.v. "BENGAL".
m.v. "TONGHAI"
m.v. "BALI".
.3rd Oct. .31st Oct. ..mid Nov.
FOR
ADEN, PORT SAID, GENOA, MARSEILLES, CASABLANCA,
ANTWERP, ROTTERDAM, BREMEN, HAMBURG,
COPENHAGEN, OSLO & GOTHENBURG
Doeplanks avaliable for Bulkell
GILMAN CO., LTD.
Tol. 11148
THE EAST ASIATIC CO., LTD.
M.S. "KAMBODIA"
LOADING 10th/11th OCTOBER
ADEN, PORT BAID, GENOA, ANTWERP, BOTTERDAM,
HAMBURG, OSLO, GOTHENBURG & COPENE
THE EAST ASIATIC CO., LTD.
"Steel
Lings... Westinghouse
More expansion
A continued expansion of the British steel industry can be expected. The £50,000,000 new continuous process plantin Bouth Wales is due to start production soon. Plans for development of the industry
during the next 10 years are now being prepared.
Hong Kong Stock Exchange
Better nows from Korea crested abulilab sentiment yesterday morning. Buyers were left un- satiated at the close, and offer- ings throughout the session were small. The undertone is Arm,
HK Govi, Loene 4% Loan 1000.
#34% Loan (1934 & 1940) 94560.. #%% Loma, (1948) 98%1⁄2n. mark pri zdi Banka
HK & Shanghai Bank 1,860.
(Los, Reg.) £18. Chartered Bank £10 1/1ên, Mercantile Bank A.'à 1. ERIKA. Bank of East Asia 2015.
•Insurances
Canton Ina, SIOD, ERŐ.
Union' Ina, 4dib.
China Underwritern En. HK Fire Ing. `295a6.
Datele
130.
shipping
HKC & Macao Bremboate lin. Indo China (Prof.) 11.
(Del.) 20. Bhalla (pleazar). #5/160. Union Waterbosta: 18n.. Anh MÁY
Docks, Wharves, Godown, Eia. HK & Kowloon Wharron TEJSH, 10m. North Point Wharvas 4546, U, 4%m. Bhanghai Nongkey Wharren 3b, HK Docks 15b, 1a. China Providenta
11 hàm.
11.76b, 13.900,
Shanahal Dockyards 3.306, 9.30/1⁄46x0. Wheelocks 215. - 264.
Mining
Raub Mines 4.700.
KR' Mfmm_0116.
Lands, Hotels & Buildings HK & Shanghai Totels Th
BK Lands $16,
Bhanghai Landa' 1.406.
Humphreya 'Mab."
IK Bellies 1.05), 2.154. Obinees: Estaize" 11ậm. 1-
Publio. Utlilties HK-Tramway +11:05, 115/,600, Peak Trama (016) 15.
Star Ferrine #7b., *;**
China Albia (Old) '11.602.. 11.60mm.
(Now). 1,19%; 3.304, 1/2.3018, HK Martrics TAND, EM, TANZ%a». Macao Electrics 116,
(New) 30%.
(Bonus Sh.) 1046) Bandakan Lights #%* Telephone 11,
cam) (Min.) 30%, 10, Bhaarhaas Klip
Industriale Call Maes. (On) $10. Canton Low $31. Camente 2016, 1016/jian, HK'Ropa 1834. **
- Blores, Etc.
(Rs.) 345, 2%/link. Watsons 24, #6120K. 1. Brawfords 114 Saree Sp.
Dairy Farma. 19,305.
in.
China Emporium Bun Ca, L,. 1.7ên, ́- Кто-Вила Поле тепе Wing Op (IK) 49m. Won, Powell Ltd. an,
Miscellaneous Chias Entertainment 14. IK Constructions (Q10) th
Ynbro Phin 100
The report, which has not been made public officially, said that considerable progress was made In London talks, But, if said: "It is as yet too early to tell whether the final document will be sufi- clently in line with the United States position to warrant our acceptance. Associated Press. Shangkal Loan-7)b.
KAISER-FRAZER PRODUCTION.
Detroit, September 28. The Kaiser-Frazer Corporation, averaging a dally output of 1,200) cars, is back in the earnings Mr. Edgar F. Kaiser,
None the less there must clearly be a diversion of "steel. from Industries at present work- 511⁄2ing for the home market and for 23 export. Brunt of the rearmament 604 work can be assumed to fall on out of the firm, sald today. 2214 the engineering and motor indus
Mr. Kaiser said the daily pro- 76% triés.
These between them take duction rate would he stepped up 82 one-third of the supplies at steel to around 1,600 units in Decem 31% to British industries. Two other ber. He declined to predict what 334 industries which will be working the final showing of the company's 40% on rearmament contracts are fearnings for the year: would be, 47% | shipbuilding, taking nine per but aid demand for tho. com- 37% cent of steel deliveries, and the pany's new cars is far in excess electrical industry, taking 6.3 of supply-Associated Press. per cent. These are the indus- iries which export a very high proportion of their production
18
324%
18%
Youngstown Sheet & Tube 100 Gen. Pub. Utilities
The bond market was quiet and prices were virtually un- changed.
NY SUGAR
TRANSPORT TALKS
The
and
British Iron and Steel Federation calculates that hair the steel
IN AFRICA.. supplied the mater Industry last year was for export orders,
Johannesburg, September 20. In the curb market prices were while the proportion was nearly mixed with trading fairly setive. two-fifths for shipbuilding and Malan, is to open the Central and Prime Minister, D. F. Higher were British-American | one-third for mochanteal en-
a
Southern African Transport Con- Canadian
gineering, The pattern of conference which begins at Johan Mercont, and Mesabl Iron,
sumption of steel retained for Lower were Dominion Steel use inside the United Kingdom nasburg on October 28. and Coat, Cuban Atlantic Sue
shows that only one-tenth of this British, French, Belgian
More than 100, delegates.from and Cities Service Associated steel used at home was for motor Portuguese territories South of Press.
vehicles but more than one-quar the Sahara will attend to consider ter was for mechanical and olee-plans to develop and co-ordinato irical machinery. This points to another
dimculty facing the inter-territorial transport in Cen- Brilish Government. The policy and Southern Africa-Asso- of austerity" self-denial, in ciated Press. the home market In order to give margin for switching steel away priority to exporte-leaves Ettle from non-essential: domestic,con stamption: Most vehicles already to priority users-doctors used in large quantities for arm- for example. If stoel is to be oments work in the United King-to $1,28 a balo lower, farA | dom it is almost certain to affect | October jak "either British" exports or the re- December
equipment of British factories| March with new machinery, or both. MAY July
New York, September 26. Domestic sugar futures number six closed unchanged to lower November 5.10 nominal January hurch
832.644. May
6.31. bid. World sugar futures mumber four closed 7 to 10 lower. January
6.40 bid. March
4.0000
May
July ( Naw Bugni spos
9.95 nominal. Associated Press.
NY COTTON
~ New York, September 26. Cotton futures closed 25 cents to $1,30 ■ bale Ubwers. October
July,
Pay Statistics aid
The
go
NEW ORLEANS
COTTON
New Orleans, September 26, Cotton futures closed 10 centa
40.48-50 -40.42——44,
40,12.. 30.89...
Spot cotton closed, 75 cents, a bala lower.
M Middling
be
Intelligent diveraton British steel" resources will mada" "possibib- by the collection of statistica of & distribution sof Latdelis fois different-indiasteles, Bince the beginning ofJting pur chspers" of steel have been class
iry, "This has been done since the Send of stool rationinais (though
40.80.
Arsoglated Press.
NY RUBBER
- Marsman Invatnsents -9/-n:
Maria (HK) TR
Bhanghai Thaplon, #0). „Yangtasqo 81⁄4ni,
A. Cottons
Rubber, eta. Companies Almus Patates 135, 16- AnDatch “Anglo-Jarsa „tub, |·
·Batu Assma 14b. Date Plantation $58. Chemor: Unlled 303, Chubb (116 Consolidated Rubbers 1,583. Dominic Rubbers Job. Java-Consolidatáča, „981. Kota Jabro „Joh." Brorwork Jayes, Jft.. Langksta 106. Pading Rubbern ‹.1th.' Repal: Rubbers, 361⁄4ni Rubber, Tests 25, 8.30-
·Bampaign' Rubberą: „Tka.. Sememba Robbery' „345. Bbangbal-Malars 100. Shanghai Pahang 7,085. Shanghai Humátraş 2b. Bua Mungate.[On Banget Daris 105. „Tanah Meradog (50),***
Tubong Rubbers -ishi -- Elanghe-Robbers o
AMERICAN PRESIDENT LINES
The Global fleet
8. Chorgen Eid2.
TO HONOLULU & SAN FRANCISCO
Pres. Claveland
Geh. Gerdoń
Pres. Wilson
via JAPAN
14 Salle Oct.
Art
Oct
Art.!
Are Nay.
Dot., 10 Balle Oct. 18
Balla
Nov.
TO SAN FRANCISCO & LOS ANGELES via JAPAN
Oct. Ark: Oct.
Oct. 4. Bails 24. *Balis Oct.
28
Free, Pierce Pren. Mokinlay
TO NEW YORK, BALTIMORE & BOSTON
via PACIFIC COAST & PANAMA
Pres. Filmbre. Pris. Tylor
Arr. Bapt. 29 Balto Bept. 30
29 At Oct.
Oct. 30
ROUND THE WORLD
VIA MANILA, 'DingapÒRE, COLOMBO, COOHIN,' BOMBAY, KARACHI, BUEZ, RORT BAID, ALEXANDRIA, NAPLES, MARSEILLES, GENOA, NEW YORK BOSTOH
Prob. Jefferson...................... Pris. Puik
and
in Port
Balla
Jept. 20
Arr, Oct. 18 Balle
Oct, 10
BEN LINE
SHIP "BENGLEUON"
BENVANNOOHTM BENVORLICH"
"DENMAUDHUI
-"BEÑALDER"
"BENAVORN "BENREOCH". HGENVENUE"
"BENLAWERS”
“BERVORLICH® "BENALDER” "BENVENUE"
"BENVANNOOн"
“DENWYVIS"
"BENCLEUON"
"BENMACRHUI”.
DENAVON
ARRIVALS
FROM
-U.K. vid. Gingapore
OUR
'In Port 29th. Bapt.
on or abt. goth Oct.
29th Oct
12th Nov.
1
SAILINGS
"Can dan
Antward,
·Rotterdam, & Hambyrg
· London, Antwerp, 'Rot- terdam & Huth
Gengs, Liverpest, Rotterdam & Antwerp.
Liverpost, dispo „Dublin, ・ Antwerp - A Rotterdam.
REUS Nov.
Sed Dec.
11th., Deo.
24th Deo.
ting on or abt.
23rd Oot.
16th Nov. 15th Deo.
80th Sept.
20th Das.
80th Sept.
S1st Out.
suth Hov.
Via Dingapore, Colombo, Port Budan, Aden, a Bụtx-
For Further Particulara, Apply To-→
W. R. LOXLEY & CO. (CHINA)Į LTD. Agents
York Building.
Telephone: 34165.
Sydney wool sales
Sydney, September 28. Crossbred and combback wools continued to sell strong-
ly at the Sydney wool, sales....
today.
These
forms,
Wis
WES
RAIL CONGRESS
To
Rome, Beptember 30.
wools are used exten- Five hundred delegates from 23 sively for making Service, uni- countries today met in congress 197) | hora-to plan better, faster, miorė The market for Merino fleeces comfortable and safor railways generally unchanged but for the larger part of Europe and some irregularity in top quality The delegates to the Interna prices was noticeable.
[tional- Rşllway. Association's 35th One broker said this irregularity annual
Congress ́erepresented, caused by the absence of among others, the British Com United States and Russian sup: monwealth, Belgium,
France, port today.
Austrio, Egypt, Italy, the Nether- The main buying strength came landa, Portugal, Slam, Turkey, from continental sourets-parti-Yugoslavia, and Wesleti 1:0 Gler cularly France.' British · buyers many for the dest time, BUSINESS DONE
(gave good support and there was "High on the agenda was a dis?) Direct business)
some buying on Japanese account, cussion of colonlai railway Canton. Ins, '60 at $250, +5 $230.
Today's top price was 182 pence modernisation. A special com. MK Firm. 4 ́ns 8258. ....
for verbales of greasy 'Merino, mitted, proitdod Cover by ́ ̈- Mộ Whert Op. 160 až 1000
When the present sales began Vrielynck, of Beiglum, was set North Point Wharves $1,000 at $1%--
yesterday, competition was less up to study colonial problems, keen and Merino wools sold at up, including the eventual substitute China Provident 7,000, at $11.70, -1,000'
to five per cent below the peak tibn of electric for steam locomo- $1.30, $2,700 at
levels touched carlier this month. tive.JAT JA
Shankhaf Dock, 899 Volga
RET (at $1834); RODAS 611,20.. China 'Light (013); 600 at $11.50.
At the Melbourne males today, Another edecial commitine was of Inst season's fine] studying, adfety on railway lines, four bales of husbourne to expecially those carrying heavy Mering Chins Light (Navy) (1,400, ns, #8, 1231 | cord no Merinos sold ' Irresi"", "Passenger comfort ‘is being diɛ--
$3:$7,30, 2100 al 54.10.
HK$600 at 22635, 500 a $4%
season's gularly
200
while
Defice
a pound. This international traficzne, crossbred and cussed in a committee heided by 386-24 82416. 100 ́si 324%; 472^»l! wtronger types were firm. 7 Lord Hurcomb; Chairman "if Bri":
There was full clearance with taln's Transport Commission,
Reuter Dairy Farm 700 318.80, 1.000. as Associated Press,
- $2495, 800 at $455, "200 at 1%.
Camens 409-2, 9105%, 1,990 · at 3106. ̈ strong: Continental competition,
Watson $1,000 33 334%, * Telephones Migħtu**300 st. 10 semia.
| Dalry' Farm' Rintila 3,153 mi q$45, *1,300 at 12%, ROG at 2934, 9420 na 1856. Banget Decla}0°xt, $1916- Rubber Tracia, 809 25 19.10.
LONDON STOCKS
London
NEW YORK BANK
QUOTATIONS
TURCO-INDIAN
– TRADE PACT Bath Bombay, September, 20
[MERANÉ Turkgeldi, the Tur
| Kish-Ambszándor to India, told
Rauter here today that
negotia
**New York, September 20. Closing bank quotations Bank of America **425–34 bide tions were going on between the 29 po 27-12 naked. two countries for a newsrade. Chase National Bank 37-k bid., NETORMENT.
39-34 asked: Is Expected it to be signed National City Bank, 44 bid. Er in New!
2440 parked. Unde Associated Press.
Brav
BER
proposed agreement)
racelva· Jone::ataple
return 102: date, tom
FOR UK