MESSAGERIES
a
MARITIMES
Today In The World Of Business
MM Trade, The Pound
FLA MARSEILLAISE
ARRIVALS
from Marseilles
SAILINGS
PASSENGER/FREIGITĖ SERVICE
LA MARSEILLAISE” LA MARSEILLAISE” FELIX · ROUSSEL” Ma
'BRIANCON"
AURAY"
to Yokohama/Kobe'
Bit: Nov,
1th Nov. to Marscitics via Manlia 20th Nov, to Marseilles via Manita 10th Jan,
FREIGHT SERVICE
.N. Africa & Europe 15th Nov. .N. Africa & Europe 15th Deo. for PORT SAID, TUÑIS, MARSEILLES, 'ALGIERS, ORAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM, *BRIANCON”.
to Salgon
15th Nov.
CIE DES MESSAGERIES MARITIMES Tel. 26651 (Three Lines) Queen's Building
INDEPENDENT
ISBRANDTSEN
DEPENDABLE
Regular Sailings from Hongkong
Pakistan's
And The Dollar Cotton Crop
By NORMAN CRUMP, Sunday Times City Editor (Special to the China 'mal)``
The official statement on Britain's external ba lance of payments for the first half of 1950 show that while we had a trading surplus of £52 million, wo added £262 million to our gold and dollar reserves. Favourable though it is, this discrepancy clearly needs some explanation, the more so as in our: trado with the dollar area alone we had, by a strange but inverse coincidence, a deficit of £52 million.
Actually there is not one but incipient fight from the dollar. Ог wrongly, some First of Rightly several explanations,
Onancial interests all there are receipts under the American
Karachi, Oct. 31.
an
~ A revised foromaf' of the 'yield of the bof'on" Crop in Pakistan, during & the „Foar 1949-10 £lows - Increase of 28.0 percent.
The increase is in respect of American varistics of 22.7. percent.
The Field is estimated at 1,242,000 bales of : 400, pounds each against fast year's ricid of 980,000 bales-Associated Press.
HONGKONG
SHARE
MARKET
Wall St.
Takes A Beating
JARDINE MATHESON &C.LT
FREIGHT DEPARTMENT
PASSAGE DEPARTMENT:--
18 PEDDER STREET - TELEPHONE 30311
IND
INDO CHINA S.N. CO., LTD.
L. "PRONTO" 14. **WINGBANG"," 14. "ESANG"
i.. ""HINDUSTAN"
LK "NANGBANG”
6.5. "FRONTO"
*EBANG"
SAILINGS TO
Tientaln
Keelung zako Birsite Rangoon &
Caloutta...
..Japan
.Bandakan
ARRIVALS. FROM
Tiental
Japan ****
Calcutta, Straits, Bangkok
·& Balgon ***
New York, Oct. 81- Fast, sudden selling beat HINDUSTAN stock prices down again cargo accepted on through Bits of Lading. For Heavy liquidation | MADRAS FONDICHERRY vis storapere and me hit the market in the last RODAT, JESSELTON, LADUAN, TAWAU, LAHAN.
DATU a SEMPORNA VÍS. Sandakan. hour, of trading.
today.
'Losses
extended to around
$3 a share before lending issues found a bottom. Final price |were a triflo above the lows in most cases. Transfers wore |2,010,000 shares.
A total of 754 issues lectin- ed and 102. advanced.
Despite The breadth of the decline, 10 rues sold at new highs for the year or longer.
The turnover on the Hang-There, was nothing spectacular!
Stock kong
Exchange this in the news to account for the morning was $155,775. Trans-suddenness or severity of the actions and noon closing prices break. were as follows:-
ANCES
European Recovery Pro-feared the progress of inflation gramme. These brought us in at home. For this reason they a gross amount of £140 million were inclined first to move thelp Next there were money from New York to Men- in dollars.
and later to the dollar earnings of the rest treat or Toronto,
some of it to London. of the sterling area. Including move
bren a con- There has lately in these the proceeds of newly mined gold and also ERP loans siderable increase in the amount American to Eire, these brought in a net of sterling held on
account, $120 million in dollars, which the other sterling -area countries
AMERICAN ELECTIONS banked with us. This of course
derive too much Before we is a major cause of the increase
this, we of £200 million during these encouragement from six months in the sterling must remember that this money. balances held in London by the is free to return to New York at rest of the sterling area.
any time. Had it been investeri in British securities, it would Receipts from ERP and the have become blocked here in-
Dook dollars banked with us by the definitely, but as matters stand, Tsingtao, Taku rest of the sterling area add up It is "hot money" in the tradi
Kobe, to
of the term, tional Bar
million of dollars £275
stays here desert Nagoya, Yoko-received by us.
Deducting the Whether hama, San £52 million representing the partly upon the outcome of next | UTILITIES
American Francisco, Los deficit in our own trade with the month's Angeles, New dollar countries, we are left Were the Republicans York via Panama | with £223 million. The final majority in Congress, Presi
might be forced Canal, Nov. 5th
item consisted of various capl-cient Truman tal transactions, which brought tark upon a policy of economy us in a net £39 million. completes the sum which ends
O NEW YORK, BALTIMORE. AND PHILADELPHIA VIA SAN FRANCISCO OR LOS ANGELES
ידי
Duo From:
"FLYING INDEPENDENT" - New York
Transhipment cargo
nocepted
for Havana and other- Cuban
ports, also Venezuela)
Avin Manila
Nov. 3rd
Sails For:
Limited Passenger Accommodation Availablé, Above Dates Subject to Change
For Information Apply to:
A.P. Pattison & Co., Inc.
GENERAL AGENTS: CHINA, FORMOSA, KOREA, JAPAN & HONGKONG
12-14 Queen's Road Central, 4th Floor. Tel: 25846. Chinese Agents:
OVERSEA CHINESE STEAMSHIP CO., LTD. 48 Bonham Strand West, 1st Floor. Tel. 26127 & 31119
WATERMAN
STEAMSHIP
CORPORATION-
MOBILE. ALA USA
WATERMAN LINE EXPRESS
FREIGHT SERVICE
FROM U.S. ATLANTIC COAST VIA JAPAN
A "ANDREW JACKSONT
1. K. “ALAWAI”
Duo about
++
-DIRECT-FOR
12th Nov. 1950
27th Nov. 1950
NEW YORK, BALTIMORE & PHILADELPHIA
VIA JAPAN & HONOLULU.
. "ANDREW (JACKSON" Balls about
L. ■. "ALAWAI"
"
13th Nov, 1950 .... 28th Nov, 1959
ALSO ACCEPTING TRANSHIPMENT CARGO FOR
GULF PORTS.
WALLEM & COMPANY LTD.
Agents
Hongkong & Shanghai Bank Building Telephones: 88041--5.
IVARAN LINES
FAR EAST SERVICE
This
in the addition of £202 million
to our gold and dollar reserves,
MARSHALL AID
sense
und deflation. out hopes of a and so might
money to return
the same time
ALES BUYERS SELLENS, SALES | BANKS
HK Pank
1450
260
54
6 6
Canton Union ...
DOCKS ETC. K. Wharf N. P. Wharf
....... 13.
the
were
Among
gainers Curtiss-Wright, Consolidated Edlion and Arinco Steel,
24th Now.
Now..
30th Now:
8th Nov.
Now,
Nov,
USTRALIA CHINA LINE LTD.
FIY. "KAFIRLISTAN"
1.1. "EASTERN GLORY"
SAILINGS TO. :
Brisbane, Sydney, Mel..
bourne'de Adelaide .. End. Nor.
ARRIVALS FROM
-Australlag Japan ..
Ports
VIA
23rd Nov.
*Cargo Accepted on through Bill of Lading "to Tasmania, New Zealand and Pacio Island. Porta.
GLEN LINE LTD.
SCHEDULED SAILINGS TO UK. & CONTINENT MV. "VENDIGKSHINE"
Loads 2nd November, sails 8th, November, for Straits, Colombe, Adon, Buez, Port Bald, Casablanca, London, Antwerp, Rotterdam, Hamburg. Das London 15th December. 1_V. **GLENORCHY"
Loads Ith November, salle 20th November, for Gualts, Colomba, Aden, Ster, Port Bald, Alexandela, Genon, London, Antwerp; Boli terdam/Amsterdam, Hamburg. Doe London-Isa Jatisary,20 (Carriers option to proceed via other portato load/discharge cargo).
SCHEDULED ARRIVALS FROM LONDON .Py
Stumblers included Sunray Oil, Curtis Publishing, Douglas Aircraft, Santa Fe and Company.
Texas
|
LAND, ETC, HK Hotel NK Land
0
J Dow Jones averages: Stocks
B0,07
48
2004 46
20 Industriale
225.01
13.50 14.30 1000 es 14.10
13 Rulle
+4
66,28
B00 14.10
10 Utilities
14.10
-Associated Press.
200 14.10
200 * ZE
eicetions. Trom
to gain
Peak Tram
(0)
Star Ferry 195%
10
This would hold
the
order" dollar, encourage this home. If al President was forced by Congress to re- face the amount of his foreign This is satisfactory, as far as wid, this again would weaken
It gives a useful start|foreign currencies, it goes.
to Mr Gaitskell, now that heterling, and so has taken over the Exchequer. the dollar harder.
C. Light (0) 14
C. Light (N) 913 Electric Telephone including would make INDUSTRIALS
Сетель Rope
Dairy (0) Day (N)
30
.. 11:5
13
13!
JA
## 8-8B88 % (88288 288
-14.10
200 201 300 # 11% 2200GA1152
141 15.10 500 at 10
1000 13.50 500 G 13.50
Watson MISCELLANEOUS
Yangtze
Again, whatever, history may It seems more likely, how-STORES, ETC.
Copp's ever, that the elections will Sir Stafford say of
it must admit give the majority to President general policy.
If so, the flight from that during his term of affice Truman,
dollar may continue. our gold and dollar losses were the turned into gains.
Whether it will go far enough force Washington to take
action definite
in the the devalus- the dollar is of much more
open question. Personally I should doubt it,
we
not any
af direction reserves tion this
Nevertheless.
must forget the first main cause the increase in our
half of during the first
Depressing day on Change
London, Ool. 31. War news from Tibet and Korea, plus Labour Government plans for permanetit economio
controls fn Britsin, de- pressed the London Stock Exchange
were
Industrial shares mixed, with many leaders fractionally lower at the clost.
British Government bonds slumped fractions on re- porte-confirmed after the
trading of. the end session--of new offerings of Treasury accurities,
Financial Times Index 116.6.-Associated Press.
2000 13.50 500 or 2435
1500 F
Free Dollars
but I do not regard an increase For Britain
the dollar price of gold as
216
being quite the same impossible May Be Stopped
uty-25 it seemed to be, as Dalunya númenes, Vipera cently as last summer. -
New York Sugar Futures Market
New York, Oot, 31. The world sugar futures mar- ket closed today unchanged to 2 higher, with sales totalling 82 contracts.
Contract No. 8: closed today unchanged to Z Tower, with sales totalling 28 contracts,
Prices closed today as fol lows:-
Contract No. 4 (world) January
March
May July
(1931)
year, namely, our receipts under Sput Marshall Aid. Still legs must | Contract No. G wwe forget the £129 million of January dollars which we received not March
but us July account jon our own
bankers for the rest of the ster-Spot ling area. Actually this is not the end of the story. The rest of the sterling area banked with us a further £90 million which they earned from countries out- side the dollar while vari
hus
6.25 nominal 4.55 tracked 4.55 traded 4.55 traded 6.85
Washington, Oct. 31. The Marshall Plan Ad- C. ministrator, William Foster, indicated today the
Tited States may cut off
- at least temporarily
to
re-
40,02 m.r. "GLENARTNET”
NOTICE TO CONSIGNEES
TA/V "REINHOLT**
Having arrived Hongkong con. algrees of cargo are hereby notuled that all goods have been landed and placed at their risk and expense Into the godowns of the Hongkong and. Kowloon Whart and Godown Co., Ltd, where delivery may be obtained as mon as the goods aro fanded.
No claims will be admitted after the goods have left the godowns, ex failure to attend the survey.
All broken, chafed and damaged goods are to be left in the godown where they will be examined in the presence of Messra Goddard and Douglas on the 3rd November, 1030, at 10 am....
To comply with the General Bond- ed Warehouse Regulations, cod signees must have a Revenue Officer in attendance when examining damaged dutable goods. All claims against the vessel must be presented to the Undersigned within” fourteen days of the ship's, arrival, or they; will not be recognised.
...No. Bre. Lostrance will be elected.
WALLEM & CO., LTD., Agents.
Telephone 38041-5.
AMENDED
FROM PERSIAN GULF, KARACHI, BOMBAY, COLOMBO & STRAITS
Consigners, per ship
free dollar aid to Britain NOTICE. TO CONSIGNEES
the European under covery, programme. ́
However, any new economie Britain. relationship With
ma. "OZARDA” meet be flexible would
are hereby polifba that their cargo changing conditions,
He made it plain that United will be discharged into the Hongkong
& Kowloon Wharf & Godown. Co Marshall plan dollars Ltd., where it will lie at consignees States will be kept
on a "stand-by" risk and expense and subject to terms and conditions of storage of basis, ready to be given to Bri-
the Hongkong & Kowloon Wharf de tain in the event that economic Godown Co. Ltd. The cargo in ex
pected to be ready for delivery from conditions there worsen.
the Godown on and after the IR NOT, 1950,
gold reserves "While British have been mounting steadily," he said, "certain negative factors
Cargo, is considered as being a cepted in good order and condition by consignees, unless broken, chafed
5.40 nominal continue to operate, and these and damaged packages are left in
5.13 bl
3.73 bid
5.13 bid 5.70 -United Press.
NY EXCHANGES
New York, Oct. 31. Closing foreign exchange, in
·added ous capital ELS an additional £55 million to
U.S.' cents: their bankings with us.
gross amount banked was Canada
Against this £200 million. the rest of the sterling Belgium
£80 Switzerland
the
The
arca
bought from นส
FROM U.S. ATLANTIC COAST PORTS
Due about 15th Nov. 1950. million more than they sold us Venezuela
m.v. "LISHOLT”
SAILING FOR JAPAN, LOS ANGELES
‚AND. U.S. ATLANTIC COAST NATAVIA PANAMA CANAL
m.v. "LISHOLT"
95.7 34 1.90% 22,00
forritly:
ely, and
must be weighed.
into int in. any taken:
account egreement that is reached be
States tween the United
and Britain Britain has received a total of $2,711,000,000 from the
Д
the United States under
1
General
the Godown for subsequent examina tion by Memes Goddard & Douglas In the presence of consignees, at 10 am. on the 6th Nov, 1930.
comply with the Bonded Warehouse Regulations, co- signeca must have a Revenue Officer in attendance when, dutiable goods are examined.
To
All damaged cargo claims against the steamer must be presented to the undersigned on or before, the
Marshall. Plan: since, the re- covery programme began in April 1948-Associated Press, 21 Nov. 1550, or they will not be
Grain Futures
30,05
Show Strength
Associated Press.
Soybeans; displaying unex-
To cover this difference they Others unchanged.
drew £80 million from us. The
final result therefore was that they added £200
million .to
Salle about 16th Nov. 1950. their sterling balances in Lon- RUBBER ADVANCE
Also 'Accepting Transfiipmont Cargo for West
Indies and South America.......
For freight and further particulars apply:
WALLEM & CO. LTD.
Agents,
Hongkong & Shanghai Bank Building
Tola, 38041-5.
THE EAST ASIATIC CO., LTD.
metining jant dɔnogiilatat
ANNAM"
- NOW LOADING
BEFOR
-ADEN, "PORT BAID; GENOA, ANTWERK ROTTERDAM, HAMBURG, OSLO GOTHENBURG:
& COPENHAGENS
THE EAST ASIATIC CO., LTD.
doo,
THE STERLING AREA
New York, Oct. 31. Crude rubber No. 1. futures These facts bear out what I closed $.20 higher; a
salda fortnight ago, that the
centre of gravity of our exter-May nal finances might be shifting July
Chicago, Oct. 31.
recognised.:
No fire insurance wit be effected. No claims Will' be admitted after the goods have been takers Delivery of ex ship's side or alternatively, ex the Hongkong Howloon Wharf r Godown Co's premises uinlan « jolas survey has previously, boED "Krečiss. MACKINNON, YAOI A th
D.I.B.N. CO. Kak
pected strength. carried grain Hongkong. 1st Nov. 1953.
futures higher!
Corn developed Independent
strength on reports of exports NOTICE TO CONSIGNEES to Austria,
Wheat word
fra 3/4
higher... December() { $8.2577/8+£2.20 49.00 bid March
51.25 bid
FRISCO, ELUR 1975
FLURRY Da Se Oct. 31,""]
cre
Soybeans were 5-1/4 16.7-1/4 Associated Press on do
... $2.30 7/8-$2.31. having, arrived from New York, and Parts of call, Conser rode from the dollar to the sterling Spot No. 1 ribbed smoked May $2,31 1/8-83.31 are hereby notified inst their
Events since June 30 last sheets 70 nominal. Associated Corn yas 7/0 to 2-cents are being handed and placed at bris And expense into the Hongkong i domingots higher., accentuate this change in our Press to ge
& Kowloon Whart & Godown. Com- Cats were 5/6 to 7/8 higher, pans godown at Howson, where position. The rises in the prices mi you ma of "wydol, rubber and tin have
ye was 1-5/8 to 2-1/8 high-delivery may be obtained as wooTS
as the goode krw landed.
Optional cargo will "not be landed undoubtedly added to the dollar earnings of the rest of the
herniem notice has been given 16-houry: rior to vemel'»varrival, but carried wn from port to port for oterling area, but they
the, mal port of call to which, the equally have added to the sise
option extends, #TANGAZ the area's sterling balances. The
75 cent dividend increase of £119 million in our declared by United States Steel gold and dollar reserves, since after Eastern Exchanges 'closed June 30 must be largely due to today brought a hurry of trad Francisco Ex thin cause it by pathaying on it San
Steel jumped to a new Minimale direct high of 424 and clorod at: 41%
phonge. These facts, have, A
upan' the question of the up one, Associated From #13 bound's future value, Recensierarhiantara ST talk about the possibly revalüüsiv che dam tady plan tion of the lipbaai joverthad:
METALS, IN NY
intrica
bearing up
much-bash, and It fer, now did down: No onejmLECOS VARANA pound will never be fres but the time for thla la far from ripe and
TE stilt fool that
Prioco ins 200
thecrigan solapend money abrend :) Thay Grades 1 1,
COPPER LOWER
RAGAM York, Out, 31.
closed (253 to
is bid suoclated
m.. RECONSEIL * IV. "GLENEARN".
No claim? will be admitted after the Goods:hava (Jett: the, GlodowDS, arud, all goods remaining undelivered after the f. November,: £830, “Wil DO? subject to rentata DN AN 1All brokeng chafed, and damarod
doode are to be lutt in the Godowns, B where they will be examined on 712 November 1850, ME 103 m.in. by MAN qurveyers Mesra., Goddard as Dospe
"TU?, cómply with the Bonded Wirehouse Regulations, bucke beat algunes fņust-have a Elevenue Oliber
disatban mom:when editinged dysh
Exchange - Rater bio oodatamin
nod the recognized dniejs
Leave UI.K.
Dus ILE.
oth Nov, 20th Nov. 0th Doc.
Safed Salled 4th Nov.
PRINCE LINE LTD.
mr. “JAVANESE PRINCE"
. "DRITISH PRINCE" ...
...Balls NY,
Selled
17th Oct.
9.7. Sailed
10th Nov.
EAST COAST, CANADA & USA vla SUEZ
m.v. “JAVANESE PRINCE".
Duo ILK,
7th Nov.
11th Dec,
Loads 7th November, for Belson: Kohrichang, Djakarta, Singapore, Straits, Colombo, Halifax, Boston and New York.
Cargo for St. John (N, B).Montres) and Bermuda with franably- ment at Halifax or New York.
All the above subject to'à alteration without notice. All intending Passengers should register
their names as far as possible in advance. of the time at which they wish to lėtys.
"HONGKONG TRÁNSPORT" "PACIFIC TRANSPORT".
El.
PACIFIC TRANSPORT LINES
ARRIVALS - FROM SAN FRANCISCO
"19th Oct. 2012 ZTÓV.
11th Nov.
TO TAKUBAR, NAGOYA ***SEMIDZU, YOKOHAMA
U.S.A.
10th Nov. BL. "TIONGKONG, TRANSPORT
Through blils of lading issued to any Port ta North America & to South American Pofta,
JARDINE MATI
18 PEDDER STREET.""
De
1812 De
CO., LTD.
TÉLAPHONE SO0818
BEN LINE
HUT.
STENLAT
*BENMHOR" "RENATNYWN
"HENBINNES
“BENCRUACHAN”
WITH
do
galavara ett az ÇİBATLIN
"BENVORLIJK2011: (20
evilstofari bro {"HENWYVIS
burg
"TEENLOMOND” Rotterdam
“BENMAODHUETS Tubing!">Havra
{Hotterdam.
Antwerp
Port
In Pori
5th Jan
Not
Dea