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WATERMAN
THE CHINA MAIL MONDAY, FEBRUARY 12, 1951.
Desperate Food Shortage In India
علمی
New Delhi, Feb. 11.
There will bo wida. spread starvation in India unless America sends wheat before the four- month "Tean period" from July to October, it is bo. Heved here.
third of India's popu- lation of 350 million are already on' a daily food ration of Hittle more than half the scale considered necessary and although no famino conditions have been reported, large num- ber of people in Madras, Bihar and Bombay are go- Ing desperately short. Ministry of Food officials Bald.
It has been officially es- timated that at least 5,- 500,000 extra tone of grala will have to be found this year if the rationing sys- tem is not to collapse. - Reuter.
Less Steel
STEAMSHIP CORPORATION Ingots Are
MOBILE. ALA, USA
WATERMAN LINE EXPRESS
FREIGHT SERVICE
FROM US. ATLANTIC COAST VIA JAPAN
■.. "ANDREW JACKSON"...Due about
**■. "KYBKA"
+
DIRECT FOR
27th Feb. 1951 15th Mar. 1951
NEW YORK, BALTIMORE & PHILADELPHIA
VIA JAPAN & HONOLULU, · ·
·5. 8. "ANDREW JACKSON” Sails about.
-4. B. “KYSIKA"
"
28th Feb. 1051 16th Mar. 1051
ALSO ACCEPTING TRANSHIPMENT CARGO FOR
GULF PORTS.
WALLEM & CO., LTD.
Agents
Hongkong & Shanghai Bank Building Telephones:-38041-5
Steel Nationalisation Leads To Mass Buying Of Commodity Shares
(FROM OUR OWN CORRESPONDENT
London, Feb. 10.
Nothing short of a miracle can now prevent the nationalisation of the British iron and steel industry next Thursday. This has been the sternest of all nationalisation contests but the issue is now finally decided. The market hesitated on Tuesday and Wednesday, when there seemed to be a possibility of the Government being defeated on the Op- position motion to avert nationalisation at the eleventh hour.
But it reacted immédiately to the result of the vote, potivities, the Stock Exchange four and the mass movement on of steel shares into other had its busiest day for
years. No fewer than 60,000 forms of investment was resumed.
bargains were marked during the work.
aa
Gi-edged improved slightly on balance after mid-week un- certainty caused by the two crucial votes in the Commons.
The long upward trend | copper shares had a setback on
of
A
In the past few weeks this movement has added tons of millions of pounds to the market evaluation of primary producing companies operating in the Colonies. Most favoured shares are those in companies producing com- modities which will be in increasingly high demand the rearmament programme begins to, unfold.
Next Thursday all stocks and directions. A substantial part Thursday. There has been shares in companies concerned has, of course, been invested in In the nationalisation of the in- shares of those companies which great deal of speculative interest
in those shares and profit-inking. dustry will be vested in the Bri- are going to be busy on rear in these circumstances was in- tish Iron and Steel Corporation, ment work. But many former evitable. The market does not and shareholders will be com- steel shareholdere are "getting believe that Thursday's setback pensated with British
commodities" on the logical marits the end of the upward teel inte stock.
assumption that no industry The terms of the new issue of work without raw materials and trend; rather it indicates that Investors are looking to other "Nationalisation Cleveland, Feb. 11.
Stock" willi that the prosperity generated groups whare many share still American mills produced probably be in line with market by the defence programme must seem to be under prices, 100,000 fewer tons of steel ingots expectations that is, a three begin with concerns which pro- last week because of the railroad and a half percent stock with duce those raw materials.
life strike and a gas shortage caused extending almost into the by cold weather, the magazine next century but the market was surprised at the non-ap- Steel estimates.
pearance of any sign of official support for the gilt-edged mar- ket to pave
Produced
The previous week an all time record of 2,025,000 net tons were rolled out when the mills were operating at 101.5 percent of
their rated capacity.
STEEP RISE
сап
It will be difficult to compute the exact extent of this influence
- announce-
A now record price for the commodity at last tempted in- vestors into tins. They had tended to neglect this section, inrgely on political fears for the safety of the producing areas.
the way for this on the rise in commodity shares. Most other sections remained issue, which is likely to be in They would no doubt have rison firm under the influence of re-
nouncements are good and poli-investment activities. the neighbourhood of £1,350,- tical fears no longer seem to be The 28 percent dividend an- 000,000.
Steel shareholders who have a very great factor (or else aynounced by Central Line caused by inflation cheerfulness in the sisal group. Steel said mils were operat-no wish to become holders of are outweighed
fears.)
But the recent wave of Central Line went ahead 5,00 ing at 87 percent of capacity last gill-edged securities are selling fears
buying 18 undoubtedly due week because they could not get out as fast as they can and be largely to the switch from scelto 40/-. materials and because at some market has been supported by places they could not get enough large institutional investors
the Since the beginning of Insurance heating gas.
companies and the Like
who, by mopping up year, when the movement out of Cellings on scrap rolled back loose steel shares are assured of steel shares first became a fuc-
obtaining
tor in Nationalisation prices US$0 to US$10 on stand-
the market tin shares Stock
have risen by about 25 percent; ord grades and up to US$60 on at an attractive discount.
As soon as they have sold rubbers by 19 percent; copper specialties, Steel said. Finished steel
however, prices,
held steel holdings, investors are na by 12 percent; and oils by 12 steady. Associated Press.
turally anxious to reinvest the percent. proceeds in
The Washington other profitable
ment this week of the setting up of international machine, ÿ to increase the production of eloven scarce raw materials and allocate their uses is the first step towards carrying out the of Britain, America proposals and France to alleviate short- | ages. The rubber conference in London is seen as an attempt to prepare the way for some form of international control supplies but it is denied in off- elal quarters that this meeting The volume of business trans- has anything to do with the
"commodity Exchange acted on the Stock
groups" envisaged this morning was valued at by the recent three-power an- $421,579.60. The half day's businouncement
LY
the miles as you
Sleep away
You will find your berth on the
S.A.S. D.C-6 roomy and comfortable
-oven for two persons. The soft,
springy mattress induces sound sleep and you will arrivo
at your destination well rested.
Book your S.AS. sleeping
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through Thoresena or
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SOUTH to
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andr kotly, smat
HONGKONG
SHARE MARKET
Meanwhile an interesting tess and noon closing pricca "neutral" view on the raw ma- were as follow-
BANKS
£
terial shortages comes from SHARES BUYERS SELLERS SALES Swedish economist writing
the current review of "Skandi- blames Banken." Ho mavisica HK Bank .. 1275 1230 10 @ 1300 ABRAS INSURANCES
the present day shoriages on the Union
private failure of official and policy "to take note of the structural changes in the rela-
Underwritere MK Fire.... SHIPPING
Anta Nev DOCKS, ETC.
Whare
N F. Whart
Dock
· គច្ឆ ៥ ន
9.88237
650
@ 650
45 @ 635
R
129
500 @ 10c
70
200 78
5% 500
4700 800
Provident... 10.70
S'hat Dock . 2.00 3.20 800
Wheelook ...
LAND, ETC. HK Hotel HK Land S'hai Land Humphreys UTILITIES.
Tram
Star Ferry
Esectric
+
20
1.35 13%
1234
C Light (0) 0.20
C Light (1) 3,78
-
esese
tion between supply and mand" since the war.
DISASTROUS RESULTS
de-
R. I. L.
ROYAL INTEROCEAN
SINGAPORE JAVA ··
PORTS and MACASSAR
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**TASMAN” •
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"VAN HIEUTSZ” •
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ARRIVALS
In Port
In Port
.25th Feb.
.23rd Feb,
In Port
only to Bingapore, Pottang & B. Deil omitting Singapore.
• MANILA, EAST & SOUTH AFRICA and
SOUTH AMERICA **TIPANAS” "THISADANE”
"TJIBADAK"
“TJDESAR” ** "BOISSEVAIN”
LINES
SAILINGS 140 Feb. 2801 Feb. 7th Mar.
23rd Mar.
SAILINGS:
8th Mar.
7th Mar.
ARRIVALS
In Port
13th Feb.
18th Mar,
24th Mar.
"STRAAT SOENDA”
19th Feb,
not proceeding to 8. Americą,
ARRIVALS
7th Mar.
12th Mar.
2ård Mar.
6th Apr.
O JAPAN
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"TJIPANAB"
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"STRAAT BOENDA”
6th Apr.
SAILINGS 17th Fab 18th Feb.
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Ka
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12th Feb. Mild. Mar.
5 Mar.
..MIJ. Apr.
May
Mid, Apr.
ISBRANDTSEN
Understanding between nations and peoples, fostered by the bonds of industry and commerce-the necessary flow of goods that keeps the wheels turning all over the world is basic to peace.
It is our fervent hope-one which we believe is almost universally shared that the statesmen on both sides of any and all existing disputes and misunderstandings will get together and set things to rights. We still hold to the view that mutual trade does most to promote friendship and understanding between nations and peoples, and that we, as business men, should argue that point wherever and whenever we can:- fabrandtsen
INDEPENDENT
-
DEPENDABLE
Fast Direct Sailings to JAPAN and WEST COAST-U.S.A.-EAST COAST
Governments and producers with transhipment cargo accepted for Jamaica, Havana and other Cuban Porta, 0.40 alike, he says, are still thinking
in terms of inter-war surpluses. These surpluses were mainly due to the huge increases in production and the failure of domand to keep pace with this progress. Since then, govern- mental interference in the mar ket system, he avers, has had
200 37.50 prices,
*** *****9*** 4999-
also Venezuela at
COMPETITIVE RATES OF FREIGHT
results. Artincial S.S. "FLYING_ARROW'........
maintained through bulk-
purchasing agreements, producer
and
support schemes
other
1236 means, have laid the seed for
serious difculties.
13
12
the Despite high prices and existence of well-assured mar kets,, the past five years had seen the smallest net addition in the 2012 century to. the 42 world's productive capacity for anyway. Commodity prices re-
0.30
ад-
0.40 main very firm, dividend 5.30 primary commodities apart 1600 @ 030 from the early thirties.
10
(13) 5.00 0.10 400 @ 0.00 Telephone __(N) INDUSTRIALS
Cernont
Rope...
STORES, ETC.
Datry
Dairy (N)
Watson
teaded unnecessarily, 323{ 3}k+100o @ 13
1114 12 2011 Crawford 2015-
COTTONS
Ewo
*272 245
Governments and producers have been obsessed with a "sur- 9% plus
They complex."
bave ho be lleves, to keep down competi- tion between producers.
Political fears and stockpiling had merely added to a problem Ts in any esso bound to keep pade persion in demand
the industral activity
200 g 13
400 21
Governmental assistance
CX-
Rubber Futures envisaged by the Colombo Plan
In Singapore
and the United Staten Point Four proposals would go sohio way towards expanding produc- tivo
resources. But steps to in- Singapore, Feb. 10. Crease production must, no of rubber futures thinks, be linked with resford- closed here today as follows: ten of a tree and efficient mar- Number 1 rubber, per Ib.
Prices
February
Marches
Number 2 rubber,
February
Number 3 rubber,
February
Number r
February Spot rubber, umbaled Black 'crops
No 1 pale cimpé
keting system. Any stops that 214-2015 threaten to complicate these 21611-310 tong-term aims, ruch as prico
fixing and other forms of strate gic buying arrangements, should be rejected even as short-term measurkan.
913-214
100
1-101
The wetter acknowledges - the -political-character (of a large
part of the turent demand. but.)
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.. DIRECT
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From
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Feb.
“INDIAN__BIAB”
Biraits
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Strette
says. "It would be disastrous to... LUCKENBACH" | 60arch for OF GAUTHA
Solution to:
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za Shmaster COACH SERVICE at reduced rates! Exchange Rates offer, it would be better to al
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LOMETYSTYKai low-economie forces to cormot "FIILIFFINK' BEAR?.
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