MESSAGERIES
M
***BEAUVAIS"
THE CHINA MAIL, TUESDAY, FEBRUARY 13, 1951.
SAPIMARITIMES |, Britain's Wholesale S.
ARRIVALS
M
from Japana
SAILINGS
10 Marcellies via Manila to Japan
PASSENGER/FREIGHT SERVICE
*FELIX ROUSSEL”” "LA HARSEILLAISE“ "LA MARSEILLAISE"
"BEAUVAIS" *MEINARS" *GRANVILLE**
20th Feb.
1st Apr. 8th May to Marsellica vis Manila 19th May
FREIGHT SERVICE
& Europe 27th Feb. ...‹N. Africa
.N. Africa & Europe 18th Mar,- .N. Africa & Europe 27th Mar,
for
PORT SAID, TUNIS, MAKSEILLES, ALGIERS, ORAN, TANGIER, CASABLANUA, HAVRE, DUNKIRK,
ANTWERP & ROTTERDAM.
"THEOGENŇITOR "GRANVILLE”
for Japan via Manila... for Port Campha
14th Feb. 19th Feb.
CIE DES MESSAGERIES MARITIMES Queen's Building
Tel. 26651 (Three Lines)
WATERMAN
STEAMSHIP
Price Index'
- London, Feb, 18. Britain's official whole- mie price index, based on 200 toms, climbed another 234 per cent. In January, the Board of Trade annotwood today.
fu The index
been zooming since last spring and has climbed approxi- mately 20 per cent, sinoa devaluation of the Pound In September, 1949,~Asso-
clated Press,
JAPAN IN
NEW TRADE
INCREASED TAXATION
BUDGET
,q
SPECULATION IN LONDON
NECESSARY ON
By Norman Crump
Today everyone is conscious that the growing burden of `rearma- ment will involve greater hardships, including heavier taxation.
The main doubt left to us is how severe next April's Budget will be. Such figures as are available suggest that, granted a reasonable financial reform, the burden of next year's taxation need
not be so heavy as many people fear.
that
Last April Sir Stafford Cripps estimated defence expenditure of all kinds would cost 2780 million for the financial year 1950-51. It is already
| AGREEMENT clear that this figure will be exceeded, and it may
CORPORATION at ""
MOBILE. ALA USA
WATERMAN LINE EXPRESS
FREIGHT SERVICE
FROM U.S. ATLANTIC COAST VIA JAPAN ".. "ANDREW JACKSON"...Due about
d. s. "KYSKA”
D
"
DIRECT FOR
87th Feb, 1951
15th Mar. 1981
NEW YORK, BALTIMORE & PHILADELPHIA
VIA JAPAN & HONOLULU.
*. *. "ANDREW JACKSON"...8alls about
4. 1. "KYSKA"
"
TF
28th Feb. 1951 ...... 16th Mar. 1051
ALSO ACCEPTING TRANSHIPMENT CARGO FOR
GULF PORTS.
WALLEM & CO., LTD.
Agents
Hongkong & Shanghai Bank Building Telephones:-83041-5
MAERSK LINE
FAST FORTNIGHTLY SERVICE TO:
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NEXT SAILINGS
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M.S. "OLGA MAERSK”
M.S. "LAURA MAERSK”
In Port
Feb. 27
Mar. 16
TANKS OF ALL SIZES AVAILABLE FOR BULK OIL
ARRIVALS FROM U.S.A.
M.S. "HULDA MAERSK"
M.S. TREIN MAERSK"
M.S.
"PETER MAERSK❞
Feb. 26 Mar. 11 Apr. 1
For Freights and Further Particulars please apply to:
AGENTS:
JEBSEN & CO.
Pedder Building
PENINSULAR
Tel. Nos. 26661-8.
& ORIENTAL
STEAM NAVIGATION COMPANY
R.M.S. "CANTON”
SAILS:
NOTICE TO PASSENGERS
BAGGAGE:
FRIDAY the 16TH FEBRUARY at 5 p.m. for the UNITED KINGDOM via Straits, Colombo, Bombay, Aden and Port Said.
ALL passengers baggage must be sent
on
Dig
W
as
can
ba
of
U.S. Treasury Position
Washington, Feb. 12*- The position of the Treasury on February 8, compared with correspond-
ing date a year ago:
Total Debi: US$250,021,- 291, 522.04 and US$256,– 020,037,402.03.
Gold Asseis: US$22,310,- 143,772,95 and US$24,346,- 773,702.04
Associated
• Press.
our
£144
turn out to be something of the order of £900 million. Tokyo, Feb. 12. Of greater import, however, respondent. The net extra-bud- General MacArthur's head-is
expengetary expenditure the likely defence quarters today announced the diture for 1001-32. Here the divided Into two parts-irre- conclusion of a trade agreement gross figure has already been coverable and recoverable. The
Japan and Sweden forecast as between
being likely to be irrecoverable part consists providing for exchange in es high as 21,500 million. The EPT refunds, post-war income
credits
damage And war first, tax Hoods totalling $21,000,000.
communique from SCAP determining factors are
Last April it was the country's capacity pro- payments, said: "A trade plon between the duce
munitions of war with estimated to cost £124 million. nations of Sweden and Japan
use them. The remainder, amounting to was signed today in the office the man-power to
This ald as we £320 million, represents loans second, such
would go a long way of Major General
F. and
obtain from the United to local authorities and also towards covering the cost of Marquat, chief of the Economic may
States.
to various pubilè organisations, raising defence exponaturo and Selentin
the
of such Therefore,
Bgure
as the coal and colton next year from £780 to £1,500 "The olan bas negotiated
the new towns.
film million. It would, in fact, leave a trade conference conducted £1,500 million can be no more boards, in Tokyo which terminated on than indicative. It meurs, how corporation and those respon- only £144 million to be found February 1. It is estimated the ever, that total expenditure sible for colonial development. in other ways. Now the growth exchange
e trade
an open ac- within the Budget is likely to All these loans are recoverable, in the national money income, Now it is very nice to feel itself a consequence of rearma- count basis in terms of United increase by about £700 million, States dollars will total $21,000,- lesa
In- such economies
the that all these loans are belog ment reactions upon
out of current dustries 000 during 1951,
Government sees it to make provided for
and the general rise "Included in the items to be | elsewhere. Judged by the re-taxation, but this is going dar in prices, will increase tho exchanged are Swedish imports turns to Dec. 31 last, ordinary beyond the demands of sound yleld of existing taxation, and of
paper pulp, sulphite expenditure, sulphite
before counting finance, In these days of in- so and part of this rayon pulp, kraft pulp, iron and anything additional for rearma- tolerable strain upon the tax- million. It is conceivable that steel products,
ment, acems likely to work out payer, it would be much better only £100 million would have machinery
Orto cover the whole of this £320 to be found by new taxation, at about £3,200 million,
of Government lactose parts,
dinary revenue stems likely to million out
INVESTOR'S PART products. Items for export to be £3.000 million. This points (loans floated. in the market, As
Sweden from Japan will include
Budget surplus a corollary the borrowing or- It may be argued that these textiles, chemical products, a 1950-51
£700 million,
referred to loss such ganisations
above proposals would place dlsin- agricultural products, ceramics, additional cost of rearmament might have to pay slightly flation, in the background and
rates machinery and equipment and us arises during the course of higher interest
if the would also make new demands miscellaneous commodities.
the current financial year.
Government wan to come out upon the investor. The answer "Participants in the ceremony
This possible airplus of £700 even on this operation. Tht to the Arst is that disinflation included the delegation beaded
the Local Authorities have for the depends upon many factors, in- compares with by Mr Leif Chrvali, Swedish million diplomatic
external, besides representative In Budget surplus of 2443 million past three years been charged ternal
per cent on 25-year foans the Budget. On this ground foc Japan, Japanese governmental envisaged by Sir Stafford, how-3
the Government. Under; much stress has been told ta and SCAP officials."-United ever, based his fiscal policy, not from
on the Budget surplus, but on this scheme they would have the past upon the over-all Press.
the overall surplus, arrived to be charged 31 per cent for surplus. As regards the second at after taking account of loans of this duration.
point, the investor, both private extra-budgetary or "below-the- We can now reconstruct the and institutional, has sub- line" items. The cost of these Budget. There is in sight to scribed since April 1 last 350 was estimated by him at £450 day a Budget, surplus of £700 million in cash to new Govern- mullion, and this turned amullion for De current ycament loans. Therefore to ask Budget surplus of £443 million 1080-51. Reduct from this irre him to finance annually £320 into an over-all deficit of 27 coverable extra-budgetary ex-million of recoverable extra- million.
penditure, which can reason-budgetary expenditure should PROPOSED REFORM ably be assessed at last April's not be beyond his powers. estimate of £124 million. This Certainly, he would rather Icaves prospective surplus lovest this amount for this year of £676 million. It in new taxation.
and
Buyers Snap
Up Brisbane
Wool Offers
Melbourne, Feb. 12.
Buyers at Brisbane
to
of
I now come to the proposed reform, which is based upon an idea suggested to me by a, cor-
up wool offerings at a rate of E.C.A. TALKS
£13,000 (Australian) worth a minute today in one of the
mont sensational purchase AT LAHORE
orgles in Queensland history.
with
a
Washington, Feb. 12.
of
J
HONGKONG
SHARE MARKET
The volume of business trans-
and
than pay
London Tin
Market
R.I.L.
ROYAL
INTEROCEAN LINES
• SINGAPORE JAVA. PORTS and
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14th Feb.
7th Mar.
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28th Feb.
25th Feb.
23rd Feb.
In Fort
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• MANILA, EAST & SOUTH AFRICA and SOUTH AMERICA "TJIPANAƑ” "TJISADANE” “TJIBADAK”
"TJIRESAR” **
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ARRIVALS
In Fort
In Port
..18th Feb,
not proceeding to B, America,
• JAPAN "TJIBADAK" *TJIPANA8"
"TJIBESAR"
"BOISSEVAIN"
"STRAAT 8QENDA”
ARRIVALS
7th Mar.
12th Mar,
23rd Mar.
6th Apr.
23rd Mar,
SAILINGS
8th Kar.
• 7th Mar.
13th Mar,
24th Mar.
6th Apr.
SAILINGS. 17th Feb.
18th Feb.
5th Mar.
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and MALAYA
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London, Feb. 12. Prices of tin closed at the end of the afternoon socialan S follows:
UNION BLDG.
1,400 1,493
"WINGS OF THE WORLD'S GREATEST TRAVEL SYSTEM!
1,460
1,405
1.455
United Press.
A new Australian record was established when two bales of greasy merino sold at
price of 334
The State Department announ-- 334 pence a pound.
closing ced today the appointment Compared quotations last December, best United States representatives to ficeco wools were up 25 per attend a series of three meetings cent and. average descriptions under the U.N. Economic Com-acted on the Stock Exchange spot in, buyer and the Far this morning was valued at Spot un, seller of fleece and skirtings advanced mission for Asia
half East at Lahore, Pakistan, begin-| $238,755,00. The
day's Business done 25 to 80 per
cent.
Three-months tin, buyer business and noon closing prices Three-months tin, millar Frices reached such heights ning on February 14.
Burinoms done at during the tast
were as follow:-- bidding that
Settlement rogtail descriptions such 1.5 locks and crutchings sold at more than 100 pence a pound. -Associated Press.
Singapore Rubber
Futures
Singapore, Feb. 12. Prices of rubber futures closed here today as follows: Number 1 rubber, per 11.
March
April
February
212-220 209-530
Number 2 rubber.
February
201-210
Number 3 rubber.
February
104-150
Number 4 rubber,
February
164-100
2704991
Snot rubber, unbaled Black crepe... No. 1 pali crepe
103-105 223 +230 United Press.
London Market
4 @ 1285
Merrill Gay of the Depart- ment's bureau of Far Eastern BuAres Buyers SELLERS SALES affairs with the rank of Minister BANKS
HK Bank 1200 1300 will attend the seventh session
East Arda, .. 101 of the ECAFE and the third session of the Committee on INSURANCES industry and trade.
P. Sweeney, economic officer in the U.S. Consulate in Calcutta, the will be representative to third session of the sub- committee on iron and steel, They will be accompanied by seven advisers-United Press.
Dockers Change
Their Mind
Baltimore, Feb.
12. American dockers agreed to unload a cargo from China bere today after the U.S. State De- partiment said that it was vital to the American rearmament
programme, London, Feb. 12. Prices of rubber futurca closed here today as follows: Number 1 rubber, in centa
per lb. Starch
Abel Turte
July/September
· October/December
The dockers at first refused to handle the cargo-mustard 5516-0715Bcod, copperware and cotton 6814-6514 waste-for "patriotic reason!." | B914-
The cargo was carried in the 5,- 5314-041% 580-ton Norwegian freighter) -United Press. Lisholt-Reuter.
804-51
Britain To Save In
Oil Purchases
London, Feb. 12.
to the Hongkong & Kowloon Wharf ·· Britain announced on Monday the completion Col's. Godown at NO. 2 GATE of agreements with American oil companies CANTON ROAD ENTRANCE · bý NOON on THURSDAY the 15TH which by 1964 will save the country $250,000,000 FEBRUARY.
per year in oil purchases.
Cantor
240
Undon .... 657.50
Underwriters 3.10 HK re***
DOCKS, ETC.
K. Whart... 7835. N. Pt. Wharf
Dock
*****... 1295 Provident 10.60 Stal Dock 1,00 Whoolock
#888
30**
240
0.23 200 @ 1.35
1600 @ B
300 @ 21
2 0,65
1.35 8
500 @ 0.33
1000 @ 4,40
LAAND, ETC. TIC Hotel HK Land S'hai ·Land Hunplays
UTILITIES
Team__............. 13.50 Stor Ferry
11:3
Light (0) 6.30
C. Light (27)
Electric ..... 203.
B. Shann Telephone TA. (N) ... INDUSTRIALS
Coment.4. Ropa ***
STORES, FIC.
Daby
...... 1234
2014
Crawford
Watson
COTTONS
Ewo
Stock
London
Exchange
Landon, Feb. 12.
The stock exchange was main- jy steady today with quiet unding. Apart from govern ment storks. which werd fractionally lower,
domostie
Issues were firmer with ship- building helped by news of & £21,000,000 order for new oll tankers.
Japanese bonds were strong on news of a peace treaty move, Gold shares were selectively
13, 200 ₫9 22,70 | firmer,----Aðsóciated Press,
20
0.10 10% 30%
2000
កន
* 88888
1216 122 000 12%
1.80
Canada Steel Cut
Ottawa, Feb. 12 The Trade Minister, Mr C. D. Howe, today ordered new drastic curtailments in the use of sicul in Canada.
He extended previous restric- 1000 123tions on amusement construction 2000 a 12 to virtually all other types of 1000 civilian building, excluding home and hospital construction and the oll inchistry.
Ceilings Imposed
The now stool order is effec- dive March 1.-Associated Press.
$1.25 DIVIDEND
Washington, Fob, 12. The office of Price Stabilim-.
The Directors of the Vibro ion had imposed specific dollar
futuro Piling Company Limited
GX3 and centa ceilings on sales
nounce that from the balanco of green coffees, rawat credit of die Pront and Lons cocoa, beana, soy beans and soy Account at 31st December, 1950, bean oil mesi, Officials sald
they will recommand to tha that the collings: should not forthcoming annual meeting tho mean an immediate rino. În
payment of a dividend of $1.25 The latest agreements, on-, of the average gross dollar value pricco .to consumers--United SPECIAL NOTE: With the exception of hand packages couced in the Commons by the of oil produced by. British com- Press.
per share, free of tax, carried by passengers themselves, Parliamentary Secrplary to the panica, m ALL BAGGAGE must pass through Ministry of Fuel and Power, In return the Government
Mr Alfred Robens were
the Wharf Co.'s Godown for loading the Standard Oil Company of policy of
with agreed to end the coproga Exchange Rates Loipzig Spring Fair
""aubstitution,". imposed New Toracy and the Socony during the financial - orisis in Vacuum Oil Company
1949. This required American-
on board by ship's slings only.
donaisha. LỌCHÍ
Derin, Feb. 13, EMBARKATION: Will take place on FRIDAY AFTER- Zut of these agreements the dol the sterling ares to buy from Biegans invian Deen)
- Mr. Robens said that, on a re- comiabits doing business with immeial exchange market hhh...! A Chiness: trade delegation, morning, at the hilllowing: ZAKOVÁ Arrived in Esat Berlin today, the NOON the 16TH FEBRUARY between jars spent on oll distributs by British controlled companies the 95% collanti ben
Germanyude Minuity anounced. The group will 158.00. p.m. and 4.p.m.
these companies in or through latters excess – ollinstera 3 of they atelier Brees Would i be bringing, in dollarserpikir inited
Bingapore) Biralty)
APS
Lira, opana on March
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