MESSAGERIES
M
"LA MARSEILLAISE”
"GRANVILLE
ARRIVALS
MARITIMES
M
from Marseilles via Salgon 28th JaIL
from Europe SAILINGS
PASSENGER/FREIGHT SERVICE
"LA MARSEILLAISE" "LA MARSEILLAISE" "FELIX ROUSSEL"
"ST NAZAIRE”
"BEAUVAIS"
"COURSEULLES"
to Japan
5th Feb.
Manlia 28th Jan, vla
9th Feb.
to Marseilles via Manka to Marnelles vla Manila
FREIGHT SERVICE
1st Apr.
N. Africa & Europe 23rd Jan, N. Airlea & Europe 18th Feb,
..N, Airlea & Europe 10th Mar.
for
PORT SAID, TUNIS, MARSEILLES, ALGIERS, ORLAN, TANGIER, CASABLANCA, HAVRE, DUNKIRK, ANTWERP & ROTTERDAM.
"ST. NAZAIRE"
to Salgon
23rd Jan.
Bankers' Prescription For Dealing With
Inflation Bogey
The
(FROM OUR OWN CORRESPONDENT)
London, Jan. 20.
Outside of the Treasury's inner circle of high officials there is probably no section of the community in a better position than the big bankers to observe the state of the country's economy in all its various aspects.
The crop of bankers' reports which have been published this week are, therefore, of more than usual interest if only because the state of the country's economic health has never before been a matter of such wide
concern.
CIE DES MESSAGERIES MARITIMES
dozen or Tel. 26651 (Threo Lines) Queen's Building
AMERICAN PRESIDENT LINES
The Global Fleet
ST. GEORGE'S BLDG.
PHONE 28172/5.
TO HONOLULU AND SAN FRANCISCO via JAPAN
PRESIDENT WILSON
PRESIDENT CLEVELAND
Arr Vob. Arr. Feb. 27
Baile Feb. 5 Balls Feb. 28
Arr. Jan 31
Sails Fab. 1
TO SAN FRANCISCO AND LOS ANGELES via JAPAN PRESIDENT TAFT
TO NEW YORK, BAL IMOBE AND BOSTON via PACIFIC COAST AND PANAMA
PRESIDENT FILLMORE
Arr. Feb. 10
Ball Yob, 11
ROUND-THE-WORLD
Via Manita, Singapore, O lombo, Cochin, Bombay, Karachi, Suez, Port Said, Alexandria. Naples, Marsellies, Genoa, New York & Boston. PRESIDENT JEFFERSON
Arr. Jan. 30
WATERMA
Balis Jan. 30
STEAMSHIP CORPORATION
it
1s
effort or fresh wage demands philosophically that "It is use- less for the ordinary investor to or both.
battle against this tide."
NOTICE TO CONSIGNEES
Consignees per
*DENKHOR"
me hereby notified that their cargo
la being discharged into the Hong- Kong Kowloon Wharf & Godown Co's godown where i will be at Consignee riak and subject to the Wharf terms and condition of storage, and where delivery may be obtained.
་
Damaged packaged are to be left In the Godowns for examination by Consignees and the Company's sur
Mcn Carmichael and Clarice, AL 10 am., 23rd January,
1931.
то comply I Use Cemeral Bonded Warehouse Regulation*. Consignees mut lave a Revenue Ofear in attendance when damaged dutiable goods are examined.
No claims will be advallied after the foods have left the steamers sodowns, and all goods remaining undelivered after the 24th JanBAFY, 1051, will be subject to rent.
the
A claims against
stcamor te the under- Inust be precated signed on or before the th February, 1931, or they will not be recognleed.
No Fire Insurance will be affected.
W. R. LOXLEY & CO.,
(CHINA) LTD.,
Aponta,
The amazing success of the NOTICE TO CONSIGNEES new Kenya loan stimulated the Colonial Market.
In the past few days half a so big bankers have dingnosed a serious case of in-
BANKERS' ARGUMENT flation. It does not perhaps need
The nearness of a large-scale a banker to point out that in-
Profits are on the up and up issue of steel stuck (Govern with us flation is
even before
and there are signs that the ment takes over the Iron and the rearmament programme gets policy of restricting dividends Steel Industry on Feb. 15) and properly under way but Interesting note their unntil-is beginning to crumble as it the possibility of a new defence
to
was bound to do when the wage loan to raise some of the money for dealing mous prescription
restriction polley was abandoned needed for rearmament kept with this financial disease.
the T.U.C. But profts are the gilt-edged market in a
Ben Line Steamers, Ltd. by First of all they are agreed
up to on what should not be done. not likely to keep pace with buoyant state. Gains of
were registered but Hongkong, 18th January, 1951, We are perllously close to the the rising production costs and one-half
are now finding the upward trend was reversed Ilmit of our "taxable capacity" many firms
dimculty In great
financing at the end of the week. and any further taxation would stocks of raw materials at their defeat its own purpose, they
present enhanced
prices. This munt,
have of course,
Any further taxation of pro- occurred to the mind of Mr Bits, if it is to contribute any
In the industrial section fur- Galtskell who is now wrestling thing worthwhile to the coun-
bill, the bankers ther signs of a general break- with the problem of raising try's arma
14. "PYKRUUS“ £4,000,000,000 argue, must reduce the rate of away from the dividend freeze something like which, it is estimated, the re- capital investment with ultimate policy caused a fresh spurt in "Rearmament" shares.
Damaged cargo ex this versed will damage to the fabric of na- prices. vised rearmament
were again in demand, Most be surveyed at Holt's programme
Wharf be- intional economy. 19 going to cost the country in
tween 10 am and Noon on January the next three years.
Exactly the same argument is shares benefitted from the new
wave of buying but Many 21 and 25, 1951, and consignees are The case against more taxa- being put forward in reply to
recorded
the 3110 | requeried to have their representa- tion is well put by, Sir Thomas the demand from certain back-10550$
end of the week.
natives present during the survey. Barlow, Chairman of the Dis-bench mombers of the Labour Rubbers and tins had a good
BUTTERFIELD & SWEE trict Bank. He says, "
"Bearing Party for a capital tax.
110 earlier probably week in mind that so much of the If he has dimeulty in deciding hopes of a peaceful settlement nation's income is already taxed
on the question of increasing with China. Gains of up to burden con direct taxation Mr Gaitskell is 5s were made in rubber shares Hongkong. January 22, 1931. heavier hardly be borne by the current hardly on safer ground when but these were not fully held income and
his attention have to may
be he turns
to the and the Market dropped under largely out of savings. possibility of increasing indirect the week-end influences. defence the Government would increase the tobacco tax, beer feature but there too lost ground
at the week-end. nation."
as these extra burdens would So far as direct taxation is have to be borne largely by and women on concerned the limit is undoub-working men
that Any fur- whom tedly close at hand.
Government for their ther large deductions from the depends
continued national war packet would prob- support, such a course would ably lead to a stackening of not find much
away,
CORPORATION Thus, by its extra spending on laxation. lit could, of course, be actively creating new in tnx or entertainment tax. Bul
MOBILE ALA. USA
WATERMAN LINE EXPRESS
FREIGHT SERVICE
FROM U.S. ATLANTIC COAST VIA JAPAN
n. a. "ANDREW JACKSON" ...Due about..... Z1th Feb. 1951 S. 8. "HYSKA"
#
+
DIRECT FOR
12th Mar. 1951
NEW YORK, BALTIMORE & PHILADELPHIA
VIA JAPAN & HONOLULU,
4. 6. "ANDREW JACKSON” ..... Salls about ..........
3. s. "KYSKA"
28th Feb, 1951 13th Mar. 1031
ALSO ACCEPTING TRANSHIPMENT CARGO FOR
GULF PORTS.
WALLEM & CO., LTD.
Agents.
Hongkong & Shanghai Bank Building Telephones:---38041-5
M.V. “LA MARSEILLAISE”
Roundtrip to JAPAN
via Manila
13 days away
his
favour In mind. Nor would he be any happier about increasing the purchase tax. In any case, as puz
Price Freeze purchase tax is charged on the
In America Being Planned
Washington, Jan. 21.
The Office of Price Stabilisa- tion (OPS) almed today at a simultaneous freeze of about 8,000,000 prices by the end of the coming week,
Oils
were
were
on
Dgain -
nt
strong
HONGKONG SHARE MARKET
a fixed percentage of the retail price of Rn article. It
automatically as risca
the price of the article increases-
The volume of business trans- which, as another banker poin- ted out this week, is a further acted on the Stock Exchange this morning was valued ot inflationary tendency.
Having told the patient that $111,103. The half day's bust- closing prices his constitution will not tolerate ness and noon a further dose of taxation the wero bankers
nkers tell him what he must to regain his economle
they He must, health.
say, "Increase productivity" and restrain his appetite for wage increases.
do
NO SOLUTION
to
They do not believe, La the Government was inclined believe in the early days of rearmament planning, greater productivity alone will
SNARES BUYERS SELLERS SALES BANKS
KK Bank
INSURANCES
Union
...... 610 0.45 DOCKS, ETC. K. Wharf N. Pt. Whart Provident
..200
++
71
94
1000 @ 4.30
1000 915
1000
1000
Shal Dock.. Wheelock ...
1000
10
400 100%
HK HK Land
4.70
S'hat Land
1.08
1000 @ 1.10
UTILITIES
11%
C. Light joi
0.10 400 5.80
400 @ 0.00
If they fail to issue the order by that time, OPS ometals think It will be largely because of formalities and mechanicol detalls, not disagreement over policy consultants have est- mated, on the basis of World solve the problem. They mere- Hotel War Two experience, that ly say 11 would help. general controls would apply to On this problem of produc about 8,000,000 different prices
that
and three or fourmi
million com-vity and wages, Mr A. Harold Bibby, Chairman of Martins panies.
Bank, is most eloquent. "Wealth created," he says,
The order will be only tem- cannot be porary, designed to put a brake "Just by taking off a ticket on on the climbing cost of living a pair of shoes valued at £2 опе marked until detailed ceiling prices cou and substituting
be worked out on about-8,000,- £3."
of
Tram
C. Light (N) 3.30
B. Shares
Electric.
Agente.
R. I. L.
ROYAL
INTEROCEAN
• SINGAPORE JAVA PORTS and
MACASSAR
"NIEUW HOLLAND" ± "TJISADANE” ***
"TASMAN" •
"TJIWANGI"
"TJITJALENGKA”
+ to Singapore & Jaya.
LINES
SAILINGS
25th Jan
*ARRIVALS
.In
In
Fort Fort
17th Janu
.In Port
2nd Fob
28th Feb.
9th Feb.
⚫ only to Sturapore, Penang & B, Dell,
not calling at Singapore,
• MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA ***TJIPANAS”
"BOISSEVAIN” "TJISADANE”
"TJIBADAK"
vis Japan.
ARRIVALS
.30th Jan. 20th Jan
1st Feb.
** not calling Manila & 8. Americs.
O JAPAN
"BOISSEVAIN”
"TJIPANAS"
"TJIBADAK”
ARRIVALS
.16th Mar.
11th Feb,
SAILINGS
15th Fob.3 17th Mar 20th Mar
SAILINGS
28th Jazz.
15th Feb.
5th Feb.
Agents: HOLLAND EAST ASIA LINE
⚫ EUROPE via MANILA
and MALAYA
"MELISKERK"
"AAGTEKENK”
"THIWANGI'
Through B9/L
issued
to
Mediterranean and Northern
European Ports.
O JAPAN
"MELISKERK" ↑ "AAGTEKERK" + + vla Manila, SINGSEMINGS
ARRIVALS
5th Feb, 3rd Feb.
ARRIVALS
SAILINGS 10th Feb.
5th Mar.
SAILINGS
Duh Feb, 3th Mar,
10th Feb.
HEIONIST 28013 10.801
The wars our generation has witnessed have brought what ware have always feeling of general insecurity that's the brought disturbances, unrest and a way of all wars. Industry and mutual trade-useful pursuits of peace--are the endeavours in the opposite direction. This concern has argued whenever it could, that free access, free intercourse and trade between peoples, contributes to peace and friendliness and security and takes the tension off where diplomata seem to fail. For, when all is said and done, people want the opportunity to work for a living. Trade and industry, free and untrammelled, not only con- tributes to that opportunity, but is a way of life. Vessels of our Line are plainly marked and can be recognized easily when they sail in and out of the principal ports of the world, and we like to feel that they are practical Isbrandtsen symbols of this philosophy:--
INDEPENDENT
DEPENDABLE
Regular Sailings from Hongkong to New York, Baltimore and Philadelphia vía San Francisco or Los Angeles
3.00 500 3.40 S.S. "FLYING CLOUD"
1000 225
100
140 @ 22
Coment... 10% 11% 1000 11
Kope 'TURES, ETC.
Dalry Wamon COTTONS
Ewo
1014
2.30
industry. Similarly in £ world 000 items industry by
It is no1 INDUSTRIALS The price freeze will exempt salaries and wages
to give those food prices which cannot possible solution
holding additional increase unless there be restrained without holding the Larmers' prices
below is a corresponding Increase in parity. Parity is a long-stand- production. This, in the may ing formula
designed to give jority of cases, he adds, can y
in done without fair income
any increase in hours
full by giving relation to the prices of things ho
The Defence play to the ever-growing mech- must buy,
anisation Production Act says no prices
of industry and by Can be
frozen below parity. greater personal effort by each. Most farm prices now are be- and every individual.
The true nature of the prob-
Sailing from Hongkong 26th January 8 p.m. the farmer
to MANILA, YOKOHAMA and KOBE.
a
Arriving from Japan 8th February, 6 p.m.ow that level.
1st Class
Tourist
ROUNDTRIP FARES
HK$810 to HK$970.
HK$580 and HK$815.
Excursions in Japan arranged on application.
CIE DES MESSAGERIES MARITIMES
Queen's Building
2
Tel. 25661 (3 Lines)
FLIGHTS
WEEKLY
Only
of Wages
rolled
10
are unlikely back. On Government labour say that it is impracticable roll back wages outside totalitarian country-Associat- ed Press:
I
The price freeze will be ac-lem now becomes apparent. companied, or followed shortly Wage-carners cannot bear the
a greater burden of direct taxa by a wage control order. required by the law. This will lion because it would be re- flected in reduced personal probably be a flat freeze, but
now wage claims. a temporary one until the effort and
Industry carmot be taxed any WSB
cut has completed a wage further because it would control formula it is working; 11;
across their capital investment mechanian- to be programme, delay this score,tion and thus put a brake on
productivity. experts
Near as we are to the limit of our laxable capacity." in-
some direction creases in Inevitable, The bankers accept this fatalistically but not with- out reservation. They are in condition full accord
on the which must be attached to any increase in taxation cuts, large cuts in public
expenditure. There is every reason to be- Heve that Government is fully aware of the need to wield a mighty axe in their own de partments. The difficult thing they have to decide is in which direction to swing the axe.
NORTH D
TAIPEH & TOKYO MONDAYS & FRIDAYS
SOUTH B
SINGAPORE via BANGKOK WEDNESDAYS & SUNDAYS.
master COACH SERVICE at reduced rates!
PACIFIC OVERSEAS AIRLINES, SIAM
in deen ding
PENINSULA HOTEL, KOWLOON. PHONE 58865.
STOCK MARKETS
views on
are
now
1000 @ 114
2035 000 20,
130 220
Exchange Rates
was, done in the local exchange market
this
unofficial morning at the following maten:
14.45 Sterling note (per 2) U.S. dollars (per $1)........... B.DEZS 3.90 Indonesia guilders (per 100) Slam Ueals (per 100)
16.63 Singapore (Straite) FIC plastres (per 100)
NOTICE TO CONSIGNEES
CONSIGNEES PER
STATES STEAMSHIP COMPANY
5.6. "CHARLES E, DANT"
are hereby nolthed, that their cargo being discharged inte Use Hong- kong. Kowloon Wharf & Godown co godown where it will be at consignees risk and subject to the Whost's LETME and condition of storage, and where delivery may be obtained.
Damaged packages are to be left in the godowns for examination by Consignees and the Company's Bur- veyors, Mesars. Carmichael & Clarke at 10a.m. on the 22nd January, 1031.
No claims will be admitted after the goods have left the termer's
To comply with the General Bonded Warehouse Begulations con- Not until the last day of the signees must have a Revenue Omeer week were the Stock Markets in attendance when damaged doti. daunted by the uncertainties of able woods are examined. the political
Prices outlook. went ahead in every acction, godown, and all goods remaining reflecting the investors firm undelivered after the zard January,
of 11, will be subject to rent. the possibility fresh ingatlan. Although the
All claims against the steamer not as strong 03 New York counterpart, ne bo presented to the Under signed on or before the 30th Jan24- web is reaching Ito higheatary, 1951, or they will not be re- level of activity for 20 years, comised. it has nevertheless managed to equal its own performance of February 1049. Most observers put this renewed activity down unreservedly to idation and Itongkong. 17th January, 1801,
commentator remarked
Market was
ono...
No Fire Insurance will be effected,
DODWELL, A 10, UTIK Agents
DUE FROM:
New York vin Minila
Feb. 1st
BAILS FOR:
Kobe, Nagoya, Yokohama, Ban, Francisco, Los Angeles, Now York, Baltimore, Philadelphia, Boston vla Panama Canal, Feb. 2nd
(Transhipment cargo accepted for Jamaica, Havana and other
Cuban Ports, also Venezuela.))
LIMITED PASSENGER ACCOMMODATION AVAILABLE
Above Dates Subject to Change
For Information Apply to:
A.P. PATTISON & CO., INC.
GENERAL AGENTS: CHINA, FORMOSA, KOREA, JAPAN AND HONGKONG.
Tel: 25946 12-14 Queen's Road Central 4th Floor.
CHINESE AGENTS:
OVERSEA CHINESE STEAMSHIP CO.,
48 Bonham Strand West, 1st Floor.
LTD.
Tels: 26127 & 81119.
Pacific For East Line, Inc.
DIRECT
BAN FRANCISCO, LOS ANGELES
Vesel
"CALIFORNIA BEAR" "PHILIPPINE HEAR”
"EAN_ANGELO.VICTORY".
*J. *. LUCKENBACH" "INDIAN DEAN"'
Fast Regular Trans-Pacific Servico
OVERLAND
NEW YORK-CHICAGO DETROIT-TORONTO MONTREAL, AND ALL, AMIRICAN & CANADIAN CITIES
For
Jan. 23 San Francisco & Los Angeles
Artives
San Francisco
は
San Francisco Jan. 20 San Francisco
Jan 24
straite
Jan 31 Feb. 10
Feb. 19-
Jan.
23.
Fot. LI
Feb. 30
Jan. 31
Singapore. Djakarta, Colombo, 1-Dombay,, Karachi '&_Dasrati San Francisco & 1/0s Angries
via” Japan).
Singapore, Diakarta, Berobayy
Karachi & Basesh,
| DAN TIEDONCS R Les noguión.
Vla. Kobe
For full pactivulaku onli Gizaterai Aponte, Unftéd Blattu Kino Os, Queen's, Building, Tot: 181